Document:

Exhibit

 
 
 
 
___________________________  
 
 
 
 
 
RBC INVESTOR SERVICES TRUST SINGAPORE LIMITED (in its capacity as trustee of Cambridge Industrial Trust) 
 
 
 
 
 
CYBEROPTICS (SINGAPORE) PRIVATE LIMITED 
 
 
 
 
 

 
 
TENANCY AGREEMENT 
 
 

 
 
 
 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 1 

   
CONTENTS 
 
 
	
		
	CLAUSE
	PAGE

	 
	 

	1.  TERMS AND INTERPRETATION
	3

	 
	 

	2.  LETTING
	3

	 
	 

	3.  THE TENANT'S COVENANTS
	3

	 
	 

	4.  THE LANDLORD'S COVENANTS
	14

	 
	 

	5.  RIGHTS RESERVED BY THE LANDLORD
	16

	 
	 

	SCHEDULE 1 - INTERPRETATION
	25

	 
	 

	SCHEDULE 2 - TERMS AND PARTICULARS OF RENT
	29

	 
	 

	SCHEDULE 3 - SCOPE FOR PROPERTY MANAGEMENT AND MAINTENANCE
	32

	 
	 

	SCHEDULE 4 - PROHIBITED MATERIAL / ITEMS/ ACTIVITIES ON THE
	 

	PREMISES, BUILDING OR PROPERTY (FOR THE PURPOSE OF SHARIAH 
	 

	COMPLIANCE)
	34

	 
	 

	SCHEDULE - LIST OF LICENCES
	35

	 
	 

	ANNEXURE A - PLAN OF PREMISES
	 

	 
	 

 

 
 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 2 

THIS TENANCY AGREEMENT is made on January 27, 2016.
BETWEEN: 
		
	(1)
	The Landlord: As defined in Item 2 of Schedule 2. 

		
	(2)
	The Tenant:  As defined in Item 3 of Schedule 2.  

THIS TENANCY AGREEMENT WITNESSETH as follows: 
		
	1.
	TERMS AND INTERPRETATION 

		
	1.1 
	Unless otherwise defined, words and expressions used in this Tenancy Agreement shall have the meanings set out in Schedule 1 unless the context requires otherwise. 

1.2     The Schedules form part of this Tenancy Agreement. 
		
	2.
	LETTING  

		
	2.1 
	Letting:  The Landlord lets the Premises to the Tenant for the Term on the Tenant agreeing to pay to the Landlord, the Rent and Service Charge in accordance with the provisions of Schedule 2. 

		
	2.2 
	Possession:  The Landlord shall give and the Tenant shall take possession of the Premises on the date of this Tenancy Agreement or such other date as the parties hereto may agree (Possession Date).   

		
	3.
	THE TENANT'S COVENANTS 

The Tenant hereby covenants with the Landlord as follows:  
3.1     Payment of Rent, Service Charge and other Payments: 
		
	(a)
	The Tenant shall pay the (i) Rent and Service Charge calculated at the Rent Rate and Service Charge rate specified in Items 11(a) and (c) of Schedule 2 respectively on the Floor Area specified in Item 6 of Schedule 2; and (ii) reimbursements and other payments, at the times and in the manner specified in this Tenancy Agreement without any deduction or demand whatsoever and there shall be no abatement of Rent, reimbursements and other payments hereby reserved by reason of any claim by the Landlord against the Tenant whether for non-performance or breach of the Landlord's obligations hereunder or otherwise. For the avoidance of doubt, the Tenant must not exercise any right or claim to withhold the Rent, reimbursements and other payments hereby reserved, or any right or claim to legal or equitable set off. 

		
	(b)
	The Tenant shall pay the Rent, Service Charge, reimbursement and other payments hereby reserved to the Landlord by way of GIRO payments through a bank account notified by the Landlord to the Tenant for this purpose.  All bank charges levied in respect of any unsuccessful GIRO deductions together with an administrative charge (subject to applicable GST) of Singapore Dollars Twenty (S$20), shall be borne by the Tenant. 

		
	(c)
	The first payment of the Rent after  the execution of this Tenancy Agreement is payable on or before the Term Commencement Date and shall be paid via GIRO payment through a bank account notified by the Landlord to the Tenant for this purpose and is for the period of one (1) month from the commencement date of the Term. In the event that the Term Commencement Date falls on a day other than the first day of a month, 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 3 

the Tenant shall pay to the Landlord pro-rated Rent calculated from the Term Commencement Date up to the day immediately before the first day of the following month, together with the Rent in advance for the following month, and thereafter all payments shall be made on the first day of each month via GIRO. 
		
	(d)
	Any sums received by the Landlord from the Tenant towards payment or part payment of the Outstanding Debt may be applied at the Landlord's sole and absolute discretion, in or towards payment of any part of the Outstanding Debt and such application by the Landlord shall override any directions given by the Tenant that such sums be specifically applied in or towards satisfaction of any particular portion or specific items or part thereof of the Outstanding Debt. 

3.2     Payment of the Security Deposit: 
		
	(a)
	On or before the Term Commencement Date, the Tenant shall pay and maintain to the Landlord the amount stated in Item 8 of Schedule 2 by way of Security Deposit which said sum shall be paid by way of cash on or before the Term Commencement Date and maintained throughout the Term as security for the due observance and performance by the Tenant of all and singular the several covenants, conditions, stipulations and agreements on the part of the Tenant herein contained. 

		
	(b)
	In the event that the Landlord shall exercise its right of set off against the Security Deposit or any part of the Security Deposit remains outstanding for any reason whatsoever, the Tenant shall immediately pay to the Landlord an amount sufficient to restore the Security Deposit to the amount stated in Item 8 of Schedule 2 or such other amount as may be specified by the Landlord.  

		
	(c)
	Further the Landlord reserves the right, at its absolute discretion, to credit any payment made by the Tenant to its account as the Security Deposit until the Security Deposit has been received in full. 

		
	(d)
	In addition to and without prejudice to the rights of the Landlord at law, in equity and herein, if the Tenant shall at any time fail to observe or perform any of the terms covenants, conditions and obligations herein contained, the Landlord may, at its option, appropriate and apply all or any part of the Security Deposit held by the Landlord to set off all and any outstanding Rent or to compensate the Landlord for its loss or damage or provide for any contingent liabilities incurred by the Landlord due to any breach of any of the terms covenants, conditions and obligations on the part of the Tenant to be performed and or observed under this Tenancy Agreement.  Any appropriation by the Landlord of the Security Deposit shall not be deemed to be a waiver by the Landlord of any non-payment or nonperformance on the part of the Tenant and shall not preclude the Landlord from exercising any of its other rights and obligations hereunder.  In the event the Landlord appropriates or applies the Security Deposit in accordance with this Clause 3.2, the Tenant shall immediately on demand pay to the Landlord a sufficient amount to restore the Security Deposit to the amount stated in Item 8 of Schedule 2 or such other amount as may be specified by the Landlord.  

		
	(e)
	The Security Deposit shall be refunded to the Tenant free of interest after the expiry of the Term provided that the Tenant has duly performed and observed all of its covenants, conditions and obligations and is not in breach of any of the terms contained herein. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 4 

		
	3.3
	Payment for Utilities:  The Tenant shall pay all charges including any taxes now or in the future imposed, in respect of water, gas, electricity and any other services supplied and metered to the Premises which shall be consumed or supplied on or to the Premises and shall pay all necessary hire charges for any equipment or appliances supplied to the Tenant by SP Services Ltd or other appropriate authority or company appointed by the Landlord.  Any costs in connection with the opening of account and/or upgrading of the water, gas, electrical, power and/or other supply of services to the Premises, as may be required by the Tenant shall be borne by the Tenant. 

		
	3.4
	Insurance: 

		
	(a)
	The Tenant shall keep current at all times during the Term and during any period of holding over an adequate insurance policy for industrial all risks, and in respect of all goods (including machinery and all contents and internal partitions) belonging to or held in trust by the Tenant within the Premises, against all loss and damage including against loss or damage by fire or water. 

		
	(b)
	The Tenant shall keep current at all times during the Term in respect of the Premises an adequate public liability insurance policy (including products liability). 

		
	(c)
	The Tenant expressly agrees at its own cost, to take out such other insurance policies in such amounts as the Landlord may specify from time to time, having regard to the market practice and after consultation with the Tenant. 

		
	(d)
	All insurance policies referred to in this Clause 3.4 shall be taken out with such insurer as shall be approved in advance by the Landlord.  

		
	(e)
	Tenant shall furnish to the Landlord on demand all policies taken up and the receipts for payment of premium in respect thereof. 

		
	(f)
	The Tenant shall not do or permit or suffer to be done anything whereby any policies of insurance taken up on the Premises for the time being subsisting may be vitiated or rendered void or voidable or whereby the rate of premium on any insurance policy shall be liable to be increased and shall make good all damage suffered by the Landlord and repay to the Landlord all sums paid by the Landlord by way of increased premium and all expenses incurred by the Landlord in or about any renewal of such policy or policies rendered necessary by a breach or non-observance of this covenant. 

3.5     Administrative Fees, Legal Costs and Expenses:  
		
	(a)
	The Tenant agrees to pay the Landlord (on a full indemnity basis): 

		
	(i)
	all stamp duties in respect of this Tenancy Agreement; 

		
	(ii)
	all the Landlord's legal costs and expenses incurred in enforcing any provision of this Tenancy Agreement in the event of a breach by the Tenant; and 

		
	(iii)
	all the Landlord's costs and expenses (including solicitors' costs and costs of the Landlord's architect, engineer or surveyor where applicable, and including any and all subletting and other fees, taxes, or charges by whatever name called in respect or in connection with subletting) incurred in connection with every application made by the Tenant for any consent or approval required under this Tenancy Agreement whether or not such consent or approval shall be granted or given. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 5 

		
	(b)
	Each party shall bear their own solicitors' costs incurred in the preparation of this Tenancy Agreement.  

		
	3.6
	Permitted Use:  Unless otherwise permitted by the Landlord, Head Lessor and the Authorities, the Tenant shall at all times use the Premises strictly and only for the use specified in Item 9 of Schedule 2, subject to the Tenant obtaining all necessary approvals and licences (if any) from the Authorities at the Tenant's own cost and absolute responsibility. Provided always that the Tenant shall under no circumstances use the Premises or Property or any part thereof for activities listed under Schedule 4.   

		
	3.7
	Keep in Tenantable Repair: 

		
	(a)
	The Tenant shall at all times keep clean and in a good and tenantable repair and condition (fair wear and tear excepted), the Premises (including the structures within), the interior, the flooring, the interior plaster or other surface material or rendering on walls and ceilings, the fixtures, all doors, windows, glass, locks, fastenings, installations and fittings for light and power, the Conducting Media within the Property and serving the Premises, sanitary, water, gas and electrical apparatus and fire detection and fire fighting installations comprised in the Premises. The Tenant's obligations in this Clause 3.7 shall extend to all improvements and additions to the Premises and to all of the Landlord's fixtures, fittings and appurtenances of whatever nature affixed or fastened to the Premises. 

		
	(b)
	In addition to and without prejudice to the other provisions of this Tenancy Agreement, the Tenant shall at all times, at the Tenant's cost and expense, comply with the  provisions set out in Schedule 3. 

		
	(c)
	The Tenant shall be wholly responsible if any damage or injury is caused to the Landlord or to any person whomsoever directly or indirectly on account of the condition of any part of the interior of the Premises (including flooring, walls, ceiling, doors, windows, curtain wall and its related parts including fluoro-carbon coating thereon (if any) and other fixtures) and the Premises and shall fully indemnify the Landlord against all claims, demands, actions and legal proceedings whatsoever made against the Landlord by any person in respect thereof.  In the interpretation and application of the provisions of this sub-clause, the decision of the surveyor or architect of the Landlord shall be final and binding upon the Tenant. 

		
	3.8
	To Make Good Damage to Premises:  The Tenant shall make good any breakage, defect or damage to the Premises or any part thereof or to any facility or appurtenances thereof or to any glass window, glass door, glass wall or glass panel of the Premises and all damaged or broken lighting, electrical equipment (including light bulbs and fluorescent tubes) and plumbing installed in or about the Premises thereof occasioned by want of care, misuse or abuse on the part of the Tenant or the Tenant's servants, agents, independent contractors, sub-contractors or licensees. 

		
	3.9
	The Landlord's Right of Inspection and Right Of Repair: 

		
	(a)
	The Tenant shall permit the Landlord and its servants or agents at all reasonable times to enter into, inspect and view the Premises and examine the condition, to ensure that the provisions of this Tenancy Agreement has been observed and also to take a schedule of fixtures in the Premises. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 6 

		
	(b)
	Upon notice being given by the Landlord to the Tenant of any breach of covenant, defect, want of repair, removal of fixture or unauthorised alteration or addition or painting work for which the Tenant shall be responsible under the terms, conditions, stipulations, obligations and agreements herein, the Tenant shall execute and complete all repairs, works, replacements or removals set out in the said notice within fourteen (14) days after the service of such notice (or within such timeframe as may be reasonably required by the Landlord), to the satisfaction of the Landlord or its surveyor.  If the Tenant shall not execute or complete all repairs, works, replacements or removals set out in the said notice within fourteen (14) days after the service of such notice, it shall be lawful for the Landlord's agents or workmen to enter into the Premises and execute such repairs, works, replacements or removals.  The Tenant shall pay to the Landlord immediately on demand all costs and expenses so incurred by the Landlord with penalty  from the date of expenditure until the date they are paid by the Tenant to the Landlord, such costs and expenses and interest to be recoverable as if they were rent in arrears. 

		
	(c)
	The Tenant shall permit the Landlord or the Head Lessor and its agents and workmen and all others employed by the Landlord or the Head Lessor at all reasonable times, upon giving to the Tenant prior notice (except in any case which the Landlord or Head Lessor considers an emergency in which case no notice is required) to enter upon the Premises to effect or carry out any maintenance, repairs, alterations or additions or other works which the Landlord or Head Lessor may consider necessary or desirable to any part of the Premises or the water, electrical and other facilities and services of the Premises; without payment of compensation for any nuisance, annoyance, inconvenience or damage caused to the Tenant subject to the Landlord (or other person so entering) exercising such right in a reasonable manner. 

		
	3.10
	Notice of Damage:  The Tenant shall give notice in writing forthwith to the Landlord of any damage that may occur to the Premises or of any damage to or want of repair or defects in the water pipes, electrical wiring, fittings, fixtures or other facilities provided by the Landlord or of any circumstances likely to cause the Premises or any person therein to be in danger, at risk or subject to any hazard. 

		
	3.11
	Alterations and Additions: 

		
	(a)
	The Tenant shall not, without the prior written consent of the Landlord, Head Lessor and/or relevant Authorities, make or permit to be made any alterations or additions to or affecting the structure or exterior of the Premises or the appearance of the Premises as seen from the exterior. 

		
	(b)
	The Tenant shall not and shall not permit any person to paint or make any additions or alterations or exert any force or load on the curtain wall, its frame structure and all its related parts or to place or affix any structures or articles or materials thereon which would otherwise render the warranty granted in favour of the Landlord in respect of such wall and structure null and void. 

Alterations and additions for such purpose of this Clause shall include but shall not be limited to the following works relating to: 
		
	(i)
	internal partitions, floors and ceilings within the Premises; 

		
	(ii)
	electrical wiring, conduits, light fittings and fixtures; 

		
	(iii)
	air conditioning installations, ducts and vents; 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 7 

		
	(iv)
	fire protection devices; 

		
	(v)
	all plumbing and gas installations, pipes, apparatus, fittings and fixtures; 

		
	(vi)
	all mechanical and electrical engineering works; and 

		
	(vii)
	painting of the Premises. 

		
	(c)
	The Tenant shall, in connection with the alterations and additions: 

		
	(i)
	remove all waste material and debris from the Property in a manner satisfactory to the Landlord; and 

		
	(ii)
	make good to the satisfaction of the Landlord all damage to the Property resulting from the execution of the alterations and additions. 

		
	(d)
	The Tenant undertakes to ensure that any such proposed alterations and additions shall be in compliance with all applicable laws and regulations and shall, furnish to the Landlord copies of all necessary permits, consents, licences, certificates and other approvals for the proposed alterations and additions. All planning and other consents necessary or required pursuant to the provisions of any statute, rule, order, regulation or by-law for any alteration or addition to the Premises or any part thereof, shall be applied for and obtained by the Tenant at the Tenant's own cost and expense, such expenses to be paid immediately by the Tenant when they fall due. 

		
	(e)
	The Tenant shall carry out and complete all alterations and additions to the Premises in accordance with plans, layouts, designs, drawings, specifications and using materials approved by the Landlord in a good and workmanlike manner and in accordance with all planning and other consents referred to in Clause 3.11(d), and in compliance with the reasonable requirements of the Landlord's consultants. 

		
	(f)
	The Tenant shall submit to the Landlord as-built drawings relating to all such alterations, additions or other works.  If the Tenant fails to do so, the Landlord shall be entitled to take all action necessary (including engaging consultants to make necessary inspections and to prepare the relevant as-built drawings and making payments to the Tenant's consultants).  All costs and expenses so incurred by the Landlord together with interest from the date of expenditure until the date they are paid by the Tenant to the Landlord shall be recoverable from the Tenant as if they were rent in arrears. 

		
	(g)
	The Tenant shall effect and maintain at the Tenant's cost and expense, comprehensive risk insurance policies and public liability policies, from the period of the commencement of the additions and alterations, with an insurance company in Singapore approved by the Landlord. Copies of such policies shall be furnished to the Landlord by the Tenant without demand, prior to the commencement of the additions and alterations. 

		
	(h)
	The Tenant shall indemnify the Landlord against (i) any breach, non-observance or non-performance in obtaining any of the consents mentioned in Clause 3.11(a) herein and (ii) any claims, losses, damages, demands or actions brought by any person arising out of or incidental to the execution of the additions and alterations. 

		
	3.12 
	Yield Up in Repair at End of Term and Reinstatement:  At the expiration or earlier determination of the Term: 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 8 

		
	(a)
	The Tenant shall surrender to the Landlord all keys giving access to all parts of the Premises irrespective of whether or not the same have been supplied by the Landlord. 

		
	(b)
	The Tenant shall reinstate (as set out in Clause 3.12(d)) within the Reinstatement Period and quietly yield up the Premises in the bare condition (fair wear and tear excepted) to the satisfaction of the Landlord after removal of all additions and improvements made by the Tenant to the Premises and all fixtures which may be fixed or fastened to or upon the Premises by the Tenant save for those which the Landlord has expressly agreed at its absolute discretion need not be reinstated. 

		
	(c)
	Prior to yielding up of the Premises, the Landlord and the Tenant shall conduct one or more joint- inspections of the Premises, including but not limited to the fixtures and fittings thereon and on the mechanical and electrical equipment systems (where applicable) and any defects, damage or items requiring rectification (which shall include replacing) by the Landlord shall be rectified by the Tenant (at its own cost) to the satisfaction of the Landlord before yielding up of the Premises. 

		
	(d)
	If the Tenant fails to reinstate the Premises by the end of the Reinstatement Period or fails to effect the rectification before yielding up of the Premises in accordance with the provisions of this Clause 3.12, the Landlord may effect the same at the Tenant's cost and expense.  All costs and expenses incurred by the Landlord together with double the amount of Rent in accordance with Clause 3.13 which the Landlord shall be entitled to receive had the period within which such works effected by the Landlord been added to the Term, shall be paid by the Tenant within seven (7) days of the Landlord notifying the Tenant of the amount thereof, and in this connection, a certificate from the Landlord as to the amount of costs and expenses incurred by the Landlord shall be conclusive and binding on the Tenant.  The Tenant shall pay to the Landlord on demand all costs and expenses so incurred by the Landlord with penalty from the date of expenditure until the date they are paid by the Tenant to the Landlord, such costs and expenses and penalty to be recoverable as if they were rent in arrears. 

		
	(e)
	For the purpose hereof, the term "reinstate" shall include, but not limited to, the washing of the whole of the interior of the Premises (including the cleaning of all glass, doors and windows) and the painting with two coats of oil paint or emulsion paint or other appropriate treatment of all of the internal parts of the premises previously so treated. 

		
	3.13 
	Holding Over:  If the Tenant continues to occupy the Premises beyond the expiration or earlier determination of the Term or fails to deliver vacant possession of the Premises to the Landlord and/or fails to reinstate the Premises in accordance with Clause 3.12 after the expiration or earlier determination of the Term, the Tenant shall pay to the Landlord for every month or part thereof of such holding over double the amount of Rent or, at the Landlord's discretion, the prevailing market rent for the Premises and such service charges as may be determined and such holding over shall not constitute a renewal of this Tenancy Agreement.  During such holding over all provisions of this Tenancy Agreement with necessary changes shall apply.  The inclusion of this Clause shall not be construed as the Landlord's consent for the Tenant to hold over. 

		
	3.14
	Approvals, Licences and Permits:  The Tenant shall obtain, effect and keep effective all approvals, licences and permits which may be required by the Landlord, Head Lessor and relevant Authorities in connection with the use and/or occupation of the Premises by the Tenant, including but not limited to those set out in Schedule 5. All costs, expenses (including appointment of consultants) and fees incurred for the obtaining/maintaining of such approvals, licences and permits shall be borne by the Tenant. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 9 

Copies of all necessary approvals, licences and permits shall be given to the Landlord forthwith upon receipt/renewal thereof.  
		
	3.15
	To Inform the Landlord of Notices:  The Tenant shall immediately give to the Landlord a copy of any notice or letter received by the Tenant from any governmental, statutory, public or other authority in respect of the Premises. 

		
	3.16
	To Comply with All Notices:  The Tenant shall promptly at the Tenant's own expense comply and cause its sub-Tenants, servants or employees to comply with all notices, order, requisition or direction made or issued by the Authorities in respect of the Premises as may be imposed on the occupier of the Premises. 

		
	3.17
	To Comply with Head Lease: 

		
	(a)
	The Tenant shall observe and promptly at the Tenant's own expense comply with and cause its servants, employees, agents, invitees, licensees and visitors to observe and comply with all such requirements as may be imposed on the occupier of the Premises by any statute, ordinance or Act now or hereafter in force and with all terms and conditions of the Head Lease. 

		
	(b)
	The Tenant shall indemnify the Landlord for and against all costs, losses and damages suffered by the Landlord as a result of the Tenant's breach of this Clause 3.17. 

		
	3.18 
	To Indemnify the Landlord:  The Tenant shall indemnify, keep indemnified and hold the Landlord harmless from and against: 

		
	(a)
	all claims, demands, writs, summons, actions, suits, proceedings, judgments, orders, decrees, damages, costs, losses and expenses of any nature whatsoever which the Landlord may suffer or incur in connection with loss of life, personal injury and/or damage or loss to property arising from or out of any occurrence in, upon or at the Premises or the use of the Premises or any part thereof or the breach of any of the obligations herein by the Tenant or by any of the Tenant's employees, independent contractors, agents, invitees or licensees; and 

		
	(b)
	all loss and damage to the Premises, the Building and to all property and goods therein caused directly or indirectly by the Tenant or the Tenant's employees, independent contractors, agents, invitees or licensees and in particular but without limiting the generality of the foregoing caused directly or indirectly by the use or misuse, waste or abuse of water, electricity or gas or by faulty fittings or fixtures of the Tenant or the failure of the Tenant to maintain the Premises and/or the Building or observe the covenants in accordance with its obligations herein. 

		
	3.19
	Dangerous Goods:  The Tenant shall not store or bring upon the Premises or any part thereof any goods or things which are unlawful or which in the opinion of the Landlord are of an obnoxious, dangerous or hazardous nature or any explosive, combustible or inflammable substance provided always that if such explosive, combustible or inflammable materials are stored in the Premises or any part thereof with the consent in writing of the Landlord. Any increase in the premium of fire or other insurance as may have been taken out by the Landlord shall be borne by the Tenant. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 10 

		
	3.20
	Discharge of Dangerous Substances:  The Tenant must not permit any noxious or any deleterious, objectionable, dangerous, poisonous or explosive matter or substance to be discharged into any of the Conducting Media, and must take all measures to ensure that any effluent discharged into the Conducting Media does not harm the environment, or corrode or otherwise harm the Conducting Media or cause obstruction or deposit in the Conducting Media and that the Tenant shall take all precautions to ensure that no noxious substances are spilled or deposited on the Property and that contamination does not occur. 

		
	3.21
	Safety Measures and Fire Safety: 

		
	(a)
	The Tenant shall keep the Premises and all fixtures, fittings, installations and appliances therein in a safe condition by adopting all necessary measures to prevent any outbreak or occurrence of fire in the Premises, to comply with the requirements of the Singapore Civil Defence Force's Fire Safety Bureau and the Fire Safety Act (Chapter 109A) and upon written notice from the Landlord to comply with such reasonable requirements as the Landlord may in its discretion stipulate as to fire precautions relating to the Premises. 

		
	(b)
	The Tenant shall comply with insurance, sprinkler and fire alarm regulations in respect of any partitions or other works which may be effected by the Tenant upon the Premises and to pay the costs, fees and expenses of the mechanical and engineering consultants appointed by the Landlord to ensure that the Tenant complies with such insurance, sprinkler and fire alarm regulations and to pay the costs of any alterations to the said partitions or other works or of repairing or replacing any damaged sprinklers and/or fire alarm installations incurred by reason of the non-compliance by the Tenant with such regulations. 

		
	3.22
	No Cooking or Sleeping:  The Tenant shall not without the written consent of the Landlord, Relevant Authorities or Head Lessor use the Premises or any part thereof or permit the same to be used for the cooking or the preparation of food nor to permit or suffer any one to sleep or reside therein but shall keep the Premises securely fastened and locked at all times when it is unattended. 

		
	3.23
	The Tenant's Manager and Authorised Personnel:  The Tenant shall inform the Landlord of the name and contact number of the Tenant's manager who is responsible for the daily management of the Tenant's business at the Premises including the name and contact number of the authorised personnel to contact in the case of emergency and to promptly notify the Landlord of any changes in the appointment of and particulars of such manager and/or authorised personnel. 

		
	3.24
	No Parking:  The Tenant shall not permit or cause to be permitted the placing or parking of bicycles, motor-cycles or scooters, trolleys and other wheeled vehicles except in places approved by the Authorities. 

		
	3.25
	To Attend to Complaints:  The Tenant undertakes to attend to any complaints by any members of the public against the Tenant which come to the attention of the Landlord to the satisfaction of the Landlord. 

		
	3.26
	Use of Lifts:  

		
	(a)
	The Tenant shall ensure that the use of the lifts does not exceed the permissible load limits prescribed for such lifts. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 11 

		
	(b)
	Where service and/or cargo lifts are available, the Tenant shall not permit or allow the contractors, workmen or cleaners (with or without equipment tools) engaged by the Tenant to use the passenger lifts of the Property and shall ensure that they use only the service and/or cargo lifts. 

		
	3.27 
	No Auction or Prohibited Trade: 

		
	(a)
	The Tenant shall not use or permit or suffer the Premises or any part thereof to be used for an auction sale or to conduct any sale described as a bankruptcy sale or closing down sale or any sale carrying a description which in the opinion of the Landlord has a negative connotation. 

		
	(b)
	The Tenant shall not use the Premises or any part thereof for any gambling or any unlawful or immoral or improper purpose nor carry out or permit to be carried out any noxious, immoral, noisome, offensive or illegal act, trade, business, occupation or calling in or upon the Premises and shall not do or permit to be done any act or thing which may become a nuisance to or cause annoyance, grievance, damage or disturbance to or give cause for reasonable complaint from the tenants or occupants of neighbouring premises or of other buildings adjoining the Premises. 

		
	3.28
	No Overloading:  The Tenant shall not without the prior written consent of the Landlord at any time load or permit or suffer to be loaded any part of the floors of the Premises to a weight greater than the permissible load limits prescribed in the relevant building plans or approved by the Authorities for the respective floors (or such other weight as may be prescribed by the Landlord) and shall when required by the Landlord distribute any load on any part of the floor of the Premises in accordance with the directions and requirements of the Landlord, and in the interpretation and application of the provisions of this Clause relating to loading requirements the decision of the surveyor or engineer or architect of the Landlord shall be final and binding upon the Tenant.  The fees of any architect, engineer or other consultant employed by the Landlord for the purpose of considering, approving and supervising any load under this Clause and all costs and expenses incurred by the Landlord in connection therewith shall be borne by the Tenant and paid forthwith upon notice being given by the Landlord to the Tenant.  All costs and expenses so incurred by the Landlord together with interest from the date of expenditure until the date they are paid by the Tenant to the Landlord shall be recoverable from the Tenant as if they were rent in arrears. 

		
	3.29
	Not to Interfere with Mechanical and Electrical and other Systems:  The Tenant shall not use or permit to be used any heating or cooking devices or any other devices, equipment or machines which may interfere with the efficient running of the lift system, lighting, or power system or any other mechanical or electrical system or apparatus in the Premises. 

		
	3.30
	Cleaning, Servicing and Landscaping: 

		
	(a)
	The Tenant shall undertake at the Tenant's own cost and expense the regular cleaning, servicing and maintenance of all fixtures, fittings, installations and appliances in or serving the Premises including but not limited to ventilation system, gas valves, sanitary and waste pipes and domestic waste water pipes (if applicable).   

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 12 

		
	(b)
	The Tenant shall pay on demand to the Landlord the costs and expenses incurred by the Landlord in cleaning any drains and pipes choked or blocked up in the Premises due to the fault or default of the Tenant or its employees, customers, invitees or licensees. 

		
	(c)
	The Tenant shall keep the Premises clean and free from dirt and rubbish and throw all trade waste, debris, dirt and rubbish (and in particular wet waste) in proper receptacles and shall arrange for the regular removal thereof from the Premises.  The Tenant shall on demand pay to the Landlord the costs and expenses of making good any damage resulting from breach of this Clause by the Tenant or by any of the Tenant's sub-Tenants, employees or visitors and shall indemnify the Landlord for any costs incurred in the removal and clearance of any rubbish or trade waste in the event the Tenant is in breach of this provision. 

		
	(d)
	Any cleaners employed by the Tenant for the purposes of cleaning the Premises shall be at the sole expense and responsibility of the Tenant.  The Landlord shall not be liable for any misconduct or negligent acts or defaults of the said cleaning contractor or contractors. 

		
	3.31
	No Disturbing Noises:  The Tenant shall not do or produce, or suffer or permit to be done or produced any music, sound or noise which is/are or may be a nuisance or annoyance to the Landlord or to tenants or occupiers of adjacent or neighbouring premises. 

		
	3.32
	Not to Cause any Odours and Fumes:  The Tenant shall not burn or cause or permit any odours or smells to be produced or to permeate or emanate from the Premises which are in the Landlord's opinion offensive or unusual.  The Tenant shall take necessary measures to ensure proper ventilation and to prevent smoke fumes or unpleasant odours and/or leakage of any substances or materials from and into the Premises and in the event that the Tenant fails to do so the Landlord may without prior notice to the Tenant take all such measures as it deems necessary to remedy this breach and all costs and expenses incurred by the Landlord shall be solely borne by the Tenant and paid forthwith.  All such costs and expenses so incurred by the Landlord together with interest from the date of expenditure until the date they are paid by the Tenant to the Landlord shall be recoverable from the Tenant as if they were rent in arrears.  

		
	3.33
	No Animals:  The Tenant shall not keep, permit or suffer to be kept any animals, fishes, reptiles, birds, insects, pests, vermin or other livestock whatsoever in or about the Premises and shall take all reasonable precautions to keep the Premises free of rodents, insects and other pests. 

		
	3.34
	Signs and Advertisements: 

		
	(a)
	The Tenant shall not affix, paint, attach or otherwise exhibit or permit or suffer so to be upon any part of the Premises any new sign, device, furnishing, ornament, announcement, placard, poster, light, display, advertisement, nameplate, flag, flag pole, or any other object unless approved in writing by the Landlord and at such location as shall be approved by the Landlord. The Tenant shall obtain at its own cost and expense all approvals, permits and licences from the Authorities for the display of any nameplate or signboard approved by the Landlord.  In this respect, the Landlord shall assist the Tenant in the submission and application by endorsing on such plans previously 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 13 

approved by the Landlord and all costs and expenses, if any, shall be borne by the Tenant.  All installation costs and the electricity costs in respect of any nameplate or signboard shall be borne solely by the Tenant. Provided Always that any approval given by the Landlord pursuant to this Clause 3.34 may at the sole discretion of the Landlord be subsequently withdrawn, modified or varied. 
		
	(b)
	The Tenant shall not erect or install any sign, device, furnishing, ornament or object which is visible from the street or from any other building and which, in the opinion of the Landlord is incongruous or unsightly or may detract from the appearance of the Premises. 

		
	(c)
	Upon written request of the Landlord, the Tenant shall immediately remove anything it may have done in contravention of this Clause 3.34. 

		
	(d)
	If the Tenant shall fail to comply with the Landlord's written request under Clause 3.34(c), the Landlord may in addition to any other remedy available to it enter upon the Premises and do such acts and things as may be required to remedy such breach at the Tenant's expense without being liable to the Tenant for loss. 

		
	3.35
	No Adverse Publicity:  The Tenant shall not advertise the Tenant's business or participate in any form of publicity or promotion which the Landlord in its absolute discretion considers detrimental to the Property and/or the reputation of the Landlord. 

		
	3.36
	Not to Assign: The Tenant will not at any time during the continuance of this Tenancy Agreement assign, sublet, underlet, licence or otherwise share or part with possession or use of the Premises or otherwise deal with or dispose of the Premises or any part thereof unless the Landlord has given its prior written approval thereto. In the event of a breach of this Clause 3.36, the Landlord may at its absolute discretion terminate this Tenancy Agreement whereupon the Tenant shall forthwith surrender the Premises with vacant possession without prejudice to the rights of the Landlord in respect of any antecedent breach. 

		
	3.37
	Change of Address:  The Tenant shall advise the Landlord in writing of any change in the address or registered office of the Tenant within seven (7) days of such change.  

		
	3.38
	GST:  The Tenant shall pay any tax levied on the supply of goods and services or such taxes, or impositions by whatever name called, levied or imposed by the appropriate government authority on the Rent, Service Charge and such other monies as are required to be paid under this Tenancy Agreement or under any statutory law during the Term. 

		
	3.39
	Sanitary and Plumbing Facilities:  All costs and expenses incurred by the Landlord in connection with or in respect of plumbing works done in the Premises shall be borne by the Tenant and paid forthwith upon notice from the Landlord to the Tenant.  All cost and expenses so incurred by the Landlord together with interest from the date of expenditure until the date they are paid by the Tenant shall be recoverable from the Tenant as if they were rent in arrears. 

		
	3.40
	Compliance with Immigration Act:  The Tenant shall not use the Premises as a place in which any person is employed or occupies in contravention of Section 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 14 

57(1)(e) of the Immigration Act (Chapter 133, Singapore) and shall indemnify the Landlord against all costs, claims, liabilities, fines or expenses whatsoever which may fall upon the Landlord by reason of any non-compliance thereof. 
		
	3.41
	Financial Statements: The Tenant shall arrange at the Tenant's expense and submit to the Landlord copies of its audited annual Financial Statements and the report of its auditors as soon as available and in any event within one hundred and twenty (120) days after the close of every financial year of the Tenant (beginning with the current one). 

		
	4.
	THE LANDLORD'S COVENANTS 

The Landlord hereby covenants with the Tenant as follows: 
		
	4.1 
	Quiet Enjoyment:  That the Tenant, duly paying the Rent and any other charges hereby reserved and observing and performing the several covenants and stipulations herein contained on the Tenants' part to be observed and performed, shall peaceably hold and have quiet possession and enjoyment of the Premises during the Term without any disturbance by the Landlord or any person lawfully claiming under or in trust for the Landlord except as provided in this Tenancy Agreement. 

		
	4.2 
	Insurance of the Property:  The Landlord shall at all times have the sole discretion as to whether to take out and maintain additional insurance in respect of the Property at the Landlord's own cost and expense. 

		
	4.3 
	Rates, Taxes And Outgoings:  The Landlord shall pay all present and future rates, taxes, assessments, impositions and outgoings (including land rental) throughout the Term imposed upon or in respect of the Property or any part thereof save, except such as are herein agreed to be paid by the Tenant. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 15 

		
	5.
	RIGHTS RESERVED BY THE LANDLORD 

PROVIDED ALWAYS AND IT IS HEREBY AGREED AND DECLARED as follows: 
		
	5.1 
	Right of Re-Entry:  If: 

		
	(a)
	the Rent hereby reserved or any part thereof or any Interest payable thereon or any other monies payable under this Tenancy Agreement shall at any time be unpaid for fourteen (14) days after the same shall have become due (whether formally demanded or not); or 

		
	(b)
	any covenant on the Tenant's part herein contained shall not be performed or observed; or 

		
	(c)
	the Tenant being a company shall go into liquidation whether voluntarily (save for the purpose of amalgamation or reconstruction) or compulsorily or a receiver shall be appointed of its undertaking, property or assets; or 

		
	(d)
	the Tenant shall make any arrangement with creditors for liquidation of its debts by composition or otherwise or if a judicial manager is appointed over the Tenant; or 

		
	(e)
	any execution or attachment shall be levied upon or issued against any of the property or assets of the Tenant, then in any one of the said events it shall be lawful for the Landlord at any time thereafter to re-enter upon the Premises or any part thereof in the name of the whole and thereupon the Term shall forthwith and absolutely cease and determine but without prejudice to the right of action of the Landlord in respect of any arrears of the Rent or of any antecedent breach of the Tenant's covenants herein contained and without prejudice to any other rights or remedies of the Landlord, the Tenant shall also pay to the Landlord compensation and damages for the loss of Rent suffered by the Landlord consequential upon the Landlord exercising its rights of re-entry. 

		
	5.2
	Penalty for Non-Payment:  In addition and without prejudice to any other right, power or remedy of the Landlord if the Rent and Service Charge hereby reserved or any part thereof or any monies payable by the Tenant to the Landlord in connection with the tenancy herein shall at any time remain unpaid for fourteen (14) days after the same shall have become due (whether any formal demand therefor shall have been made or not) then the Tenant shall pay to the Landlord penalty  at the interest rate of twelve per cent (12%) commencing on the date on which such monies fall due for payment up to the date on which such monies are actually paid to the Landlord.  The Landlord shall be entitled to recover any monies payable by the Tenant to the Landlord in connection with this Tenancy Agreement and such penalty on the Rent and/or such monies payable as aforesaid as if such monies payable and such penalty were rent in arrears. 

		
	5.3
	Rights Against the Tenant's Goods: 

		
	(a)
	Notwithstanding anything herein contained if this Tenancy Agreement shall come to an end whether by effluxion of time or otherwise and the Tenant shall within seven (7) days thereafter fail to remove all its goods whether 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 16 

belonging to the Tenant or otherwise (which expression shall include personal property of every description save for property and goods belonging to the Landlord) from the Premises or if the Tenant shall abandon the Premises (and the Tenant shall be deemed to have abandoned the Premises and terminated this Tenancy Agreement unilaterally if the Tenant without the consent in writing of the Landlord fails to open the Premises for a continuous period of seven (7) days) then and in any of the said events it shall be lawful for the Landlord to repossess the Premises for the purpose of mitigating damages and to sell or otherwise dispose of the said goods in the Premises at such time and at such price as the Landlord shall in its absolute discretion think fit without prejudice to all other rights and remedies of the Landlord.  The Landlord shall after payment out of the proceeds of sale of the costs and expenses connected with the said sale apply the net proceeds of sale towards payment of all arrears of Rent and the interest thereon and all other sums of monies due and payable by the Tenant to the Landlord under this Tenancy Agreement and the balance (if any) thereof shall be retained by the Landlord.  For the purpose of this Clause, goods shall include all fixtures and fittings of the Tenant. 
		
	(b)
	The Tenant hereby unconditionally and irrevocably agrees to indemnify the Landlord against any liability incurred by the Landlord to any third party whose property is dealt with or disposed of by the Landlord in the mistaken belief (which will be presumed unless the contrary is proved) that such property belonged to the Tenant. 

		
	5.4 
	Option to Renew: 

		
	(a)
	If: 

		
	(i)
	the Tenant gives a written request to the Landlord, not later than six (6) months before the expiry date of the Term (time being of the essence), that it requires an extension of the tenancy hereby created for a further term; and 

		
	(ii)
	at and if there shall not at the time of such request or at the time of renewal be any existing breach or non-observance of any of the covenants on the part of the Tenant herein contained, the Landlord shall at the Tenant's expense grant to the Tenant the Renewal Term, conditional upon and subject to (A) consent of the Head Lessor under the Head Lease for the renewal of the Tenancy Agreement of the Property, and (B) the revised rent and such other terms and conditions as may be prescribed by the Landlord at its absolute discretion in respect of the Tenancy Agreement for the Renewal Term. 

		
	(b)
	If after the new document for the Renewal Term has been signed but before commencement of the Renewal Term, the Tenant is in default of the provisions of this Tenancy Agreement, the Landlord is entitled to terminate the agreement for the Renewal Term by giving notice to the Tenant.  Upon receipt of the notice, the Renewal Term will be terminated without affecting the other rights of the Landlord against the Tenant in respect of the default.  The Landlord will not be liable for any loss, damage, cost, expense or compensation in connection with the termination. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 17 

		
	(c)
	The Tenant shall pay for (i) all fees payable to the Head Lessor in connection with the application for and grant of consent of the Head Lessor to the renewal of the Tenancy Agreement of the Premises; and (ii) stamp duty on the Tenancy Agreement (in duplicate) for the Renewal Term. 

		
	5.5 
	Power of The Landlord to Deal with Adjoining Property and the Premises: 

		
	(a)
	The Landlord may deal as it may think fit with other property belonging to the 

Landlord adjoining or nearby and may erect or suffer to be erected on such property any buildings whatsoever whether or not such buildings shall affect or diminish the light or air which may now or at any time be enjoyed by the Tenant in respect of the Premises. 
		
	(b)
	The Landlord shall have the right at all times without obtaining any consent from the Tenant to develop the vacant land on the Property (if any) and to alter, reconstruct or modify in any way whatsoever any parts of the Building, so long as means of access to and egress from the Premises are possible and such development does not unreasonably interfere with the Tenant's operations. 

		
	(c)
	For the avoidance of doubt, any such development or addition or alteration shall not reduce the Rent payable under this Tenancy Agreement. The Landlord shall have the absolute right to tenant out any new space created. 

		
	5.6
	Rights To Alter Building:  The Landlord shall have the right to deal with the Property or any part thereof if it is so required by the Authorities notwithstanding that the same may interfere with, disturb, interrupt or affect the Tenant's peaceful and quiet enjoyment of the Premises or diminish the access of light and air enjoyed by the Premises or impede the ingress to and egress from the Premises and the Tenant shall not have any claim against the Landlord and the Landlord shall not be liable to the Tenant in any manner whatsoever for any damages or expenses whatsoever incurred by the Tenant as a result thereof. 

		
	5.7
	No Representations:  This Tenancy Agreement shall in no way be modified by any oral discussions which may have preceded the signing of this Tenancy Agreement.  The Landlord shall not be bound by any oral representations or oral promises with respect to the Property or in respect of the Premises, except as expressly set forth in this Tenancy Agreement with the object and intention that the whole of the agreement between the Landlord and the Tenant shall be set forth herein, subject however to any variations or modifications to the terms of this Tenancy Agreement which are expressly agreed in writing by the parties hereto on or after the date of this Tenancy Agreement, as supplements to this Tenancy Agreement.  The Landlord does not expressly or impliedly warrant that the Property will remain suitable or adequate for all or any of the purposes of the Tenant notwithstanding that permitted use of the Property is set out in this Tenancy Agreement and all warranties (if any) as to suitability and adequacy of the Property implied by law are hereby expressly negatived. 

		
	5.8
	Damage To Building:  In the event that the Building or any part thereof shall be damaged or destroyed by fire, flood, tempest, explosion, storm, lightning, act of God or other cause beyond the control of the Landlord so as to render the Premises or any part thereof substantially unfit for occupation and use then the Landlord may in its absolute discretion decide that it will rebuild or reinstate or 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 18 

make fit for occupation the Premises and in such event the Landlord shall within ninety (90) days after such damage has been sustained give notice in writing to the Tenant of its decision and may in its discretion terminate this Tenancy Agreement and thereupon the Tenant shall if still in occupation vacate the Premises without compensation from the Landlord.  In the case of damage caused aforesaid the Tenant shall have no claim against the Landlord for delay howsoever caused in the repairing and/or rebuilding of the Premises or the Building or any part thereof and nothing herein contained or implied shall be deemed to impose any obligations upon the Landlord to rebuild or reinstate or make fit for occupation the Building, provided that in the event that such damage or destruction has been caused by the act or default of the Tenant, its servants, independent contractors, agents, visitors, invitees or licensees, the Tenant shall be liable to the Landlord for any loss, damage, cost and expense suffered by the Landlord as a result thereof. 
		
	5.9
	Costs of Improvements:  If the Landlord shall at any time during the Term effect any structural alterations or any alterations or additions to the water, gas, electrical, plumbing or fire equipment or other services or appurtenances to the Premises which may be required by reason of any future statute, regulation, ordinance or by-law of the Authorities arising from or relating to the Tenant's use or requirements, then the cost of such improvements with interest to be calculated at the time payments are due shall be paid by the Tenant to the Landlord, Provided that the Tenant is duly informed of the aforesaid works and the costs in respect thereof before the Landlord commences any such works. 

		
	5.10
	Use of Premises at Risk of the Tenant:  The use and occupation and possession of the Premises is at the risk of the Tenant and the Tenant hereby releases to the full extent permitted by the law the Landlord, its agents, servants, contractors, licensees and invitees from all claims and demands of every kind in respect of or resulting from any accident, damage or injury occurring in the Premises and the Landlord shall have no responsibility or liability for any loss, damage or injury suffered by the Tenant whether to or in respect of the Tenant's person or property or the business conducted by the Tenant as a result of any breakage, leakage, accident, happening, occurrence or event in the Premises. 

		
	5.11
	The Landlord Not Liable: Notwithstanding anything herein contained the Landlord shall not be liable to the Tenant, nor shall the Tenant have any claim against the Landlord and/or the Landlord's agents, servants, employees or contractors in respect of: 

		
	(a)
	any failure or inability of or delay by the Landlord and/or the Landlord's agents, servants, employees or contractors in fulfilling any of its obligations under this Tenancy Agreement or any interruption in any of the services provided by the Landlord and/or the Landlord's agents, servants, employees or contractors by reason of necessary repair or maintenance of any installations or apparatus or damage thereto or destruction thereof or by reason of mechanical or other defect or breakdown or by reason of any events or circumstances beyond the control of the Landlord and/or the Landlord's agents, servants, employees or contractors (including but not limited to fire, flood, act of God, force majeure, escape of water, riot, civil commotion, curfew, emergency, labour disputes, shortage of manpower, fuel, materials, electricity or water and/or any acts, restrictions, regulations, bylaws, prohibitions or measures of any kind on the part of any government 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 19 

authorities); or 
		
	(b)
	any act, omission, default, misconduct or negligence of any porter, attendant or other servant or employee, independent contractor or agent of the Landlord in or about the performance or purported performance of any duty relating to the provision of the services or any of them as provided by the Landlord; or 

		
	(c)
	any act, omission, default, misconduct or negligence of any contractor nominated or approved by the Landlord and any such contractor appointed by the Tenant shall not be deemed to be an agent or employee of the Landlord; or 

		
	(d)
	any damage, injury or loss arising out of the leakage or defect of the piping, wiring and sprinkler system in the Premises and/or the structure of the Premises; or 

		
	(e)
	any damage, injury or loss caused by other tenants or persons in the Premises; or 

Sub-paragraphs (a), (b) and (e) of this Clause 5.11 shall apply for a case of negligence as well as to any other cause(s) howsoever arising. 
		
	5.12
	The Landlord's Right to Exhibit Notice and Prospective Tenants to Inspect:  Except where the Tenant is granted an option to renew for the Renewal Term and the Tenant exercises such option pursuant to Clause 5.4, the Landlord have the unqualified and irrevocable right six (6) months preceding the expiration of the Term to exhibit where the Landlord shall think fit a notice indicating that the Premises will be vacant and will be available for letting which notice the Tenant shall not remove or conceal and to allow the Landlord or a representative of the Landlord at all reasonable times during the aforesaid six (6) months to view the Premises with prospective tenants or occupiers. 

		
	5.13
	Signs and Advertisements:  The Landlord shall have the right to erect any signs, placards, posters, lights, displays or advertisements at such location and in such manner and for such length of time as the Landlord shall in its sole discretion deem appropriate. 

		
	5.14
	Government Acquisition:  If: 

		
	(a)
	the Property is acquired by any relevant authority; or 

		
	(b)
	a notice, order or gazette notification is issued, made or published in respect of the intended or actual acquisition of the Property by any relevant authority, the Landlord may terminate this Tenancy Agreement by giving written notice to the Tenant.  On the said expiry date of such notice, this Tenancy Agreement will end without affecting the rights of the Landlord against the Tenant for any previous default by the Tenant arising out of or in connection with this Tenancy Agreement, and without the Landlord being liable for any inconvenience, loss, damage, cost, expense or compensation in connection with the termination of this Tenancy Agreement pursuant to this Clause 5.14. 

		
	5.15 
	Termination of Head Lease Term by Head Lessor: 

		
	(a)
	If the Head Lessor, at any time before the expiry of the Head Lease Term: 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 20 

		
	(i)
	terminates the lease granted to the Landlord under the Head Lease, and in connection therewith, gives notice in writing thereof to the Landlord (Head Lease Termination Notice); 

		
	(ii)
	notifies the Landlord of the revocation of its consent to the Tenancy Agreement (Revocation Notice); or 

		
	(iii)
	becomes entitled to and re-enters the Property or any part thereof in the name of the whole, or 

		
	(b)
	if upon the expiration of the initial leasehold term of 30 years under the Head Lease, the Head Lessor does not grant the further term of 30 years from the expiry of the said initial leasehold term, the Landlord shall, upon the Landlord's receipt of the Head Lease Termination Notice or the Revocation Notice or upon the Landlord becoming aware of Head Lessor's intention to re-enter the Property or upon the Landlord becoming aware of Head Lessor's intention not to grant the further term of 30 years from the expiry of the initial leasehold term of 30 years under the Head Lease, give written notice thereof to the Tenant.  On (i) the expiry date of the Head Lease Termination Notice or (ii) the expiry date of the Revocation Notice or (iii) the date of Head Lessor's re-entry into the Property or (iv) the expiry of the initial leasehold term of 30 years under the Head Lease, whichever date is the earliest, the Term and this Tenancy Agreement will end without affecting the rights of the Landlord against the Tenant for any previous default by the Tenant arising out of or in connection with this Tenancy Agreement, and without the Head Lessor or the Landlord being liable for any inconvenience, loss, damage, cost, expense or compensation in connection with the termination of this Tenancy Agreement pursuant to this Clause 5.15. 

		
	5.16 
	Landlord May Assign: 

		
	(a)
	The Landlord may assign or charge all of its rights and benefits under this Tenancy Agreement to any lender of the Landlord or any mortgagee of the Property. 

		
	(b)
	The Tenant acknowledges that the Landlord's rights and benefits under this Tenancy Agreement must accrue to the owner for the time being of the Property and that: 

		
	(i)
	the Landlord shall be entitled to assign or transfer its rights and benefits under this Tenancy Agreement to any trustee for the time being of REIT; and 

		
	(ii)
	on any disposal of the Property by any owner of the Property (including, without limitation, the Landlord or any trustee for the time being of REIT, such owner shall be entitled to, assign or transfer its rights and benefits under this Tenancy Agreement to any subsequent purchaser(s) of the Property. 

		
	(c)
	Upon such assignment or transfer, the Tenant: 

		
	(i)
	is treated to have consented to such assignment or transfer; 

		
	(ii)
	must accept any transferee of the Landlord as its new Landlord; 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 21 

		
	(iii)
	must release the Landlord from all its obligations in this Tenancy Agreement, particularly, the Landlord's obligation to refund the Security Deposit and other sums under this Tenancy Agreement upon transfer (less any authorized deductions) of such Security Deposit to the transferee; and  

		
	(iv)
	must become a party to and sign any agreement with the Landlord and its transferee relating to the said assignment or transfer, if required by the Landlord.  Such agreement will be prepared by the Landlord at its own cost and expense. 

		
	5.17
	The Landlord Not a Partner:  The Landlord shall not in any way or for any purpose be construed as a partner or being in joint venture with the Tenant and the provisions herein relating to additional rent (if any) are solely to provide a method of computing rent and shall not create any relationship between the parties other than that of Landlord and Tenant. 

		
	5.18
	Waivers and Extension of Time:  Any indulgence or extension of time granted by the Landlord to the Tenant and/or any oversight by the Landlord shall not operate as a waiver of the Landlord's rights hereunder in respect of any continuing or subsequent default, breach or non-observance or non-performance of the Tenant's covenants and conditions herein contained or so as to defeat or affect in any way the rights of the Landlord herein in respect of any such continuing or subsequent default, breach or nonobservance or non-performance.  Any consent given by the Landlord shall operate as a consent only for the particular matter to which it relates and shall in no way operate as a waiver or release of any of the provisions hereof, nor shall it be construed as dispensing with the necessity of obtaining the specific written consent of the Landlord in future, unless expressly so extended.  The acceptance of rent or any other monthly charges or fees (if any) or any other sums payable by the Tenant to the Landlord shall not be deemed to operate as a waiver by the Landlord of any right to proceed against the Tenant in respect of a breach by the Tenant of any of the Tenant's obligations contained herein. 

		
	5.19
	Performance at the Tenant's Own Cost and Expense:  The Tenant shall perform and observe all the Tenant's covenants, conditions, terms, obligations and stipulations in connection with this Tenancy Agreement at its own cost and expense. 

		
	5.20
	Pre-Termination of Tenancy Agreement:  Without prejudice to the rights of the Landlord at law and in equity, in the event the Tenant purports to terminate this Tenancy Agreement for any reason prior to expiry of the Term, the Landlord shall be entitled to receive from the Tenant forthwith in one lump sum the amount equivalent to the aggregate Rent for the whole Term less any Rent actually received by the Landlord at the time of the purported termination of the Tenancy Agreement by the Tenant, Provided nothing herein shall be construed to impose or imply any obligation on the Landlord to accept the Tenant's purported termination of this Tenancy Agreement. 

		
	5.21
	Severability:  If any one or more of the provisions contained in this Tenancy Agreement or part thereof shall be deemed invalid, unlawful or unenforceable in any respect under any applicable law, the validity, legality and enforceability of the remaining provisions (or part thereof as the case may be) contained herein shall not in any way be affected or impaired. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 22 

		
	5.22
	Registration of Tenancy Agreement and Subdivision:  The Tenant shall not at any time, register the Tenancy Agreement hereby created under this Tenancy Agreement at the Singapore Land Authority or at any other Registry in Singapore, or require the Landlord to subdivide the Property or any part thereof or to do any act or thing which could result in the Landlord being required to subdivide the Property or any part thereof. 

		
	5.23
	Tenancy Agreement to Prevail:  Where the covenants, conditions, terms, obligations, stipulations and powers contained in or subsisting in connection with this Tenancy Agreement are inconsistent with or contradictory to those contained in or subsisting under any other document where applicable, the covenants, conditions, terms, obligations, stipulations and powers contained in or subsisting in connection with this Tenancy Agreement shall prevail and have full force and effect. 

		
	5.24
	Representations & Warranties: The Tenant hereby represents and warrants for the benefit of the Landlord that: 

		
	(a)
	it has full power and authority to enter into, exercise its rights and perform and comply with its obligations (where applicable) under this Tenancy Agreement, and all transactions arising from and in connection to the same and this Tenancy Agreement constitutes legal valid binding and enforceable obligation on its part; 

		
	(b)
	all actions, conditions and things required to be taken, fulfilled and done (including without limitation the obtaining of any necessary consents or licences or the making of any filing or registration) in order to (i) enable it lawfully to enter into, exercise its rights and perform and comply with its obligations (where applicable) under this Tenancy Agreement, and all transactions relating to the same; and (ii) ensure that those obligations which are legally binding and enforceable have been taken, fulfilled and done; and 

		
	(c)
	its entry into, exercise of its rights and/or performance of or compliance with its obligations (where applicable) under this Tenancy Agreement, and all transactions relating to the same do not and will not violate, or exceed any power or restriction granted or imposed by: 

		
	(i)
	any law, regulation, authorisation, directive or order (whether or not having the force of law) to which it is subject; or 

		
	(ii)
	the memorandum and articles and constitutive documents of it; or 

		
	(iii)
	any agreement to which it is a party or which is binding on it; or 

		
	(iv)
	any order, judgement or decree of any court or any governmental department or the Authorities. 

		
	5.25
	Third Party Rights:  This Tenancy Agreement shall not create any right under the Contracts (Rights of Third Parties) Act (Chapter 53B), which is enforceable by any party who is not a party to this Tenancy Agreement. 

		
	5.26
	Notices:  All notices, demands or other communications required or permitted to be given or made hereunder shall be in writing and delivered personally or sent by prepaid post (by air-mail if to or from an address outside Singapore) with recorded delivery or facsimile address to the intended recipient thereof at its 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 23 

address set out in Schedule 2 or at its last known address or at its facsimile number set out in Schedule 2 (or to such other address or facsimile number as any party may from time to time duly notify in writing to the other).  Any such notice, demand or communication shall be deemed to have been duly served (if given or made by facsimile) immediately or (if given or made by letter) 24 hours after posting or (if made or given to or from an address outside Singapore) 72 hours after posting and in proving the same it shall be sufficient to show that the envelope containing the same was duly addressed, stamped and posted.  The initial addresses and facsimile numbers of the parties for the purposes of this Tenancy Agreement are specified in Schedule 2. 
		
	5.27
	Governing Law:  The validity, construction, interpretation and enforcement of this Tenancy Agreement and any document or agreement contemplated herein and all rights, remedies, powers, obligations and liabilities hereunder shall be governed by the Laws of the Republic of Singapore.  The parties herein agree to submit to the jurisdiction of the courts of the Republic of Singapore. 

		
	5.28
	Limitation of Liability:  Notwithstanding any contrary provision in this Tenancy Agreement, the parties herein agree and acknowledge that the Landlord is entering into this Tenancy Agreement in its capacity as trustee of REIT and not in its personal capacity.  As such, any liability of or indemnity given or to be given by the Landlord shall be limited to the assets of REIT over which the Landlord in its capacity as trustee has recourse. 

		
	5.29
	Counterparts: This Tenancy Agreement may be executed in one or more counterparts, and by the parties on separate counterparts, but shall not be effective until each party has executed at least one counterpart and each such counterpart shall constitute an original of this Tenancy Agreement but all the counterparts shall together constitute one and the same instrument. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 24 

SCHEDULE 1 INTERPRETATION 
 
1.1 Interpretation:  In this Tenancy Agreement the following expressions shall have the following meanings assigned to them unless the contrary intention appears: 
Act means the Land Titles (Strata) Act (Chapter 158); 
Authorities means all relevant government authorities or statutory boards; 
Car Park means that part of the Property designated from time to time by the Landlord to be used for the parking of motor vehicles; 
Common Property means: 
		
	(i)
	(if the Building is subdivided and registered under the Act) the parts of the Building which are within the definition of common property under the Act; or 

		
	(ii)
	(if the Building is not subdivided and registered under the Act) the parts of the Building which would reasonably be treated as common parts of the Building for common use or benefit if the Building had been subdivided and registered under the Act; 

Conducting Media means drains, sewers, conduits, flues, gutters, gullies, channels, ducts, shafts, watercourses, pipes, cables, wires and mains or any of them; 
Financial Statements means the audited financial statements of the Tenant for the each of their financial year, which have been prepared, audited, examined, reported on and approved in accordance with accounting principles and practices generally accepted and consistently applied in Singapore and in accordance with the laws of Singapore and the Memorandum and Articles of Association of the Tenant; 
Floor Area means the estimated floor area of the Premises specified in Item 6, which is measured to include: 
		
	(i)
	half the thickness of the walls/partitions/glass (as may be the case) which form the external boundaries of the Premises; and 

		
	(ii)
	the area occupied by all pillars, columns, mullions and projections within the Premises. 

GST means the goods and services tax (which includes any imposition, duty or levy) chargeable under the Goods and Services Tax Act (Chapter 117A) or any statutory modification or re-enactment thereof; 
HDB means Housing Development Board; 
Head Lease means the Lease Agreement No. 23095 granted by the President of the Republic of Singapore and Lease Agreement No. IA/338968L granted by HDB and any reference in this Tenancy Agreement to the Head Lease includes that document as from time to time amended, modified or supplemented and any document which amends, modifies or supplements that document.; 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 25 

Head Lease Term means the initial leasehold term of 30 years commencing from 1 February 1997 with a covenant by HDB to grant a further term of 30 years from the expiry of the initial leasehold term, subject to the fulfilment of the terms and conditions of the Head Lease; 

Head Lease Termination Notice has the meaning ascribed to it under Clause 5.15(a)(i); 
Head Lessor means the President of the Republic of Singapore and/or the HDB (as the case may be); 
Interest means interest at the rate of twelve per cent (12%) per annum calculated on a daily basis of a 365-day year (as well before as after judgment);  
Item means an item in Schedule 2; 
Landlord includes the Landlord's successors in title and assigns; 
Original Condition means the bare state and original condition of the Premises as at the Possession Date (as hereinafter defined) without any fixtures, fittings, renovations, additions, alterations, improvements made or installed in the Premises by the Tenant or taken over by the Tenant, and includes the concrete topping, sprinklers and all fixtures and fittings originally provided by the Landlord; 
Outstanding Debt means all sums which are or at any time may be or become due from or owing by the Tenant to the Landlord, whether as Security Deposit, Rent, Service Charge, GST, interest, penalty or otherwise, whether actually or contingently, which the 
Tenant has covenanted or is liable to pay or discharge, under or in connection with this Tenancy Agreement; 
Possession Date means the date referred to in Clause 2.2; 
Premises means the premises in the Building, described in Item 5 of Schedule 2, excluding the exterior faces of exterior walls, external faces of boundary walls and the roof; 
Property means the property stated in Item 4 of Schedule 2; 
Property Tax means the property tax payable by the Tenant in accordance with Schedule 5; 
Reinstatement Period means the period of 1 month before the expiration or earlier determine of the term or such other period as the Landlord may in its absolute discretion agree; 
REIT means the real estate investment trust known as Cambridge Industrial Trust, established in Singapore; 
Renewal Term means the further term specified in Item 10 of Schedule 2; 
Rent comprises the rent (exclusive of service charge) payable by the Tenant in accordance with Clause 3.1, and the applicable GST;  
Rent Rate means the rent rate stated in Item 11(a) of Schedule 2; 
Revocation Notice has the meaning ascribed to it under Clause 5.15(a)(ii); 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 26 

S$ means the lawful currency of Singapore;  
Security Deposit means the amount stated in Item 8 of Schedule 2 payable by the Tenant to the Landlord as security deposit; 
Service Charge means the service charge payable by the Tenant as stated in Item 11(c) of Schedule 2, and the applicable GST; 
Tenancy Agreement means this Tenancy Agreement including the Schedules and Annexure hereto and any agreements supplemental to it; 
Tenant includes, if the Tenant is an individual, his personal representatives and permitted assigns, or if the Tenant is a company, its successors in title and permitted assigns; 
Term means the term of this Tenancy Agreement stated in Item 7 of Schedule 2;  
Term Commencement Date means the commencement date of the Term, as stated in Item 7 of Schedule 2; and  
Utilities means electricity, water, sewerage and telecommunications.  
1.2     General: 
		
	(a)
	Interpretation of restrictions on the Tenant:  In any case where the Tenant is placed under a restriction by reason of the covenants and conditions contained in this Tenancy Agreement, the restriction shall be deemed to include the obligation on the Tenant not to permit or allow the infringement of the restriction by any person claiming rights to use, enjoy or visit the Property through, under or in trust for the Tenant. 

		
	(b)
	Schedules and Annexures:  The Schedules and Annexures hereto shall be taken, read and construed as parts of this Tenancy Agreement and the provisions thereof shall have the same force and effect as if expressly set out in the body of this Tenancy Agreement. 

		
	(c)
	Clause and paragraph headings:  The clause and paragraph headings in this Tenancy Agreement are inserted for ease of reference only and shall not be taken into account in the construction or interpretation of any covenant, condition or proviso to which they refer. 

References in this Tenancy Agreement to a clause or Schedule or Annexure are references where the context so admits to a clause or Schedule or Annexure in this Tenancy Agreement.  References in a clause to a paragraph are (unless the context otherwise requires) references to a paragraph of that clause, and references in a Schedule or Annexure to a paragraph are (unless the context otherwise requires) references to a paragraph of that Schedule or Annexure. 
		
	(d)
	Singular and plural meanings:  Words in this Tenancy Agreement importing the singular meaning shall where the context so admits include the plural meaning and vice versa. 

		
	(e)
	Statutes and statutory instruments:  References in this Tenancy Agreement to any statutes or statutory instruments shall include and refer to 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 27 

any statute or statutory instrument amending, consolidating or replacing them respectively from time to time and for the time being in force. 
		
	(f)
	Gender:  Words in this Tenancy Agreement for the masculine gender shall include the feminine and neuter genders and vice versa and words denoting 

natural persons shall include corporations and firms and all such words shall be construed interchangeably in that manner. 
		
	(g)
	Joint and several obligations:  Where two or more persons are included in the term Tenant, all covenants, agreements, terms, conditions and restrictions shall be binding on and applicable to them jointly and each of them severally, and shall be binding on and applicable to their personal representatives and permitted assigns respectively jointly and severally. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 28 

SCHEDULE 2 TERMS AND PARTICULARS OF RENT 
	
				
	1.
	Date
	 
	 

	 
	 
	 
	 

	2.
	Landlord
	 
	 

	 
	 
	 
	 

	 
	Name:
	 
	RBC INVESTOR SERVICES TRUST

	 
	 
	 
	SINGAPORE LIMITED in its capacity as trustee

	 
	 
	 
	of Cambridge Industrial Trust

	 
	 
	 
	 

	 
	Company Registration No.:
	 
	199504677Z

	 
	 
	 
	 

	 
	Country of Incorporation:
	 
	Singapore

	 
	 
	 
	 

	 
	Registered Office Address:
	 
	77 Robinson Road

	 
	 
	 
	#18-00 Robinson 77

	 
	 
	 
	Singapore 068896

	 
	 
	 
	 

	 
	Telephone No:
	 
	62301988

	 
	 
	 
	 

	3.
	Tenant
	 
	 

	 
	 
	 
	 

	 
	Name:
	 
	Cyberoptics (Singapore) Private Limited

	 
	 
	 
	 

	 
	Company Registration No.:
	 
	200103162D

	 
	 
	 
	 

	 
	Country of Incorporation:
	 
	Singapore

	 
	 
	 
	 

	 
	Registered Office Address
	 
	21 Ubi Road 1 #02-01

	 
	 
	 
	Singapore 408724

	 
	 
	 
	 

	 
	Telephone No:
	 
	68445331

	 
	 
	 
	 

	4.
	Property
	 
	 

	 
	 
	 
	 

	 
	Address:
	 
	21 Ubi Road 1

	 
	 
	 
	Singapore 408724

	 
	 
	 
	 

	 
	Name:
	 
	such name as may be decided by the Landlord

	 
	 
	 
	and approved by the relevant authorities

	 
	 
	 
	 

	5.
	Premises
	 
	 

	 
	 
	 
	 

	 
	Building Level:
	 
	Level 2

	 
	 
	 
	 

	 
	Unit No(s).:
	 
	#02-01

	 
	 
	 
	 

	 
	Demarcation:
	 
	(for purpose of identification only) edged in red

	 
	 
	 
	on the attached plan marked Annexure A

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 29 

	
				
	6.
	Floor Area
	 
	 

	 
	 
	 
	 

	 
	Unit No
	Area (sft)

	 
	#02-01
	19,805.58 square feet

	 
	 
	 
	 

	7.
	Term
	 
	 

	 
	 
	 
	 

	 
	1 year from 25 July 2016 to 24 July 2017

	 
	 
	 
	 

	8.
	Security Deposit Amount
	 
	 

	 
	 
	 
	 

	 
	S$184,000.00
	 
	 

	 
	 
	 
	 

	9.
	Permitted Use
	 
	 

	 
	 
	 
	 

	 
	Assembly of electronics inspection machines, storage of high-tech automated optical 

	 
	equipment with office
	 
	 

	 
	 
	 
	 

	10.
	Renewal Term
	 
	 

	 
	 
	 
	 

	 
	3 years from 25 July 2017 to 24 July 2020 at prevailing market rental rates

	 
	 
	 
	 

	11.
	Rent and Service Charge (Subject to GST: (With air-conditioning)

	 
	 
	 
	 

	(a)
	Rent Rate:
	 
	S$1.80 per square foot per month

	 
	 
	 
	 

	(b)
	Monthly Rent:
	 
	S$35,650.04 per month

	 
	 
	 
	 

	(c)
	Service Charge Rate:
	 
	S$0.60 per square foot per month

	 
	 
	 
	 

	(d)
	Monthly Service Charge:
	 
	S$11,883.35 per month

	 
	 
	 
	 

	(e)
	Total Monthly Rent & Service Charge:
	 
	S$47,533.39 per month

	 
	 
	 
	 

	12.
	Floor Loading
	 
	 

	 
	 
	 
	 

	 
	12.5kN/m2
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

 

 

 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 30 

 
		
	13.
	Any Other Terms and Conditions 

       
		
	(a)
	HDB sublet fees for the lease period 

 The amount of sublet fees shall be determined by HDB and subject to revision at each  application. The HDB sublet fee shall be borne by Tenant. 
      
		
	(b)
	Mode of Rental Payment 

      Tenant to pay monthly rent via GIRO. 
      
		
	(c)
	Allocation of Carpark Lots  

 Landlord will allocate 4 complimentary carpark lots to the Tenant. As Landlord has appointed a third party carpark operator during the lease term, Tenant shall liaise with the appointed carpark operator directly on additional allotment of carpark lots and the  carpark fees chargeable. 
		
	(d)
	Installation of Signage 

 Tenant is allowed to install their company’s signage on the parapet wall at their own cost  and subject to Landlord’s consent. Tenant is required to make good to the parapet wall  as part of their reinstatement works at the expiry of their tenancy period. Prior to  installation, Tenant shall provide the artwork and proposed location for the Landlord’s  endorsement. Tenant shall pay S$150.00 per month (subject to GST) and is required to  make one-time payment of S$1,926.00 (includes GST) for the signage during the Term. 
      
		
	(e)
	Reinstatement 

 The Tenant shall reinstate the Premises in the original condition upon the expiry of their  tenancy period. 
      
		
	(f)
	Air-Conditioning Hours 

 Air-conditioning will only be supplied from 0800 to 1800 (Mondays to Fridays, excluding  Public Holidays).  
      
 Tenant is required to submit their request to the Landlord in advance should they require   air-conditioning beyond the stipulated time, on weekend or public holiday. Additional  request for air-conditioning beyond the stipulated time will be chargeable at S$100.00 per  hour (minimum 2 hours). 
      
      
      
      
 
 
 
 
 
 
 
 
 
 
 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 31 

SCHEDULE 3 
SCOPE FOR PROPERTY MANAGEMENT AND MAINTENANCE SERVICE 
 
		
	1.
	To keep the Premises and the Landlord's fixtures and fittings therein including without limiting the generality of the foregoing, all doors, locks, window frames, window glass, window fittings, floors, interior plaster and other finishing materials and rendering to walls and ceiling, drainage, water and other pipes and sanitary water, gas and electrical apparatus and wiring, air-conditioning and other installations from the points where the supplies enter into meters that may serve the Premises in good clean tenantable substantial and proper repair and condition (fair wear and tear alone excepted) and to so maintain the same at the expense of the Tenant and not to substitute or replace any external window of the Building but upon any window becoming damaged, broken or defective to give notice to the Landlord. 

 
		
	2.
	The Tenant particularly agrees: 

 
		
	(a)
	to reimburse the Landlord the cost of replacing all windows broken or damaged by the negligence of the Tenant or its employees, customers, invitees or licensees; 

 
		
	(b)
	to preserve and protect the fire detection and fire fighting installations provided by the Landlord within the Premises against possible damage or unauthorised interference and to indemnify the Landlord against all costs claims and damages arising from all damage thereto; 

 
		
	(c)
	to be wholly responsible for any damage or injury caused to any other person whomsoever directly or indirectly through the defective or damaged condition of any part of the Premises and to make good the same by payment or otherwise and to indemnify the Landlord against all costs, claims, demands, actions, liabilities and legal proceedings whatsoever made upon the Landlord by any person in respect thereof; 

 
		
	(d)
	to make good to the satisfaction of the Landlord any damage or breakage caused to any part of the Premises and/or the Building and/or to the Landlord's fixtures and fittings by the transportation of the Tenant's goods or effects or as a consequence of any neglect or malicious act or default of the Tenant its employees or invitees. 

 
		
	3.
	Waste collection service:  All waste disposals from the property, be it the Tenant's or the sub-Tenants' refuse, shall strictly follow the guidelines set by the Environment Public Health Act. 

 
		
	4.
	Pest control service:  The Tenant shall regularly examine and exterminate all pests including and not limited to rodents, cockroaches, ants and termites in the Property at least once a month. 

 
		
	5.
	Other periodic property maintenance programs:   

 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 32 

		
	(a)
	Ensure good up keeping of signage(s) and renewal of the relevant certificate(s). 

		
	(b)
	The windows and doors are regularly painted and kept in a good state of repair. 

		
	(c)
	The Premises is kept clean and free from scribbling or drawings on walls, floors or ceilings. 

		
	(d)
	Adequate ventilation and lighting are provided in all common and circulation areas and lifts, and any blown fuses, bulbs or defective wires and switches are immediately replaced. 

		
	(e)
	Roofing and gutters, when damaged, are to be repaired as soon as possible. 

		
	(f)
	All drawings are to be kept at the maintenance department at all times.  This is to ensure proper control of the building services records. 

 
 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 33 

SCHEDULE 4 
PROHIBITED MATERIAL / ITEMS / ACTIVITIES ON THE PREMISES, BUILDING OR PROPERTY (FOR THE PURPOSE OF SHARIAH COMPLIANCE) 
 
The manufacturing (including without limitation printing and publication), assembly and storage of following:  
 
		
	•
	Conventional banking, conventional retail finance, conventional insurance and conventional stockbrokerage business; 

 
		
	•
	Alcoholic beverages; 

 
		
	•
	Beverages containing alcohol, regardless of % content; 

 
		
	•
	Food containing alcohol, regardless of % content; 

 
		
	•
	Pornography, lewd and sexually suggestive materials; 

 
		
	•
	Food containing pork, lard and any produce derived from pigs, regardless of % content; 

 
		
	•
	Consumable food related by-product and food related ingredients or enhancer containing produce derived from pigs, regardless of content; 

 
		
	•
	Cosmetics, perfumery and other forms of beauty enhancer applied externally or otherwise, which contain alcohol, regardless of % content; 

 
		
	•
	Any gadget, device or mechanism of any description, the primary purpose of which is to enable user to engage in any game of wager or gambling, regardless of motive behind such engagement;  

 
		
	•
	Weaponry, ammunition or other device, gadget or mechanism of any description, the primary purpose of utilisation is capable of inflicting bodily harm to humans and may depending on severity of application, result in death to humans; and 

 
		
	•
	Cigarette, cigar and any other device or gadget, the net of effect of usage thereof is to, seek relaxation through exhalation of smoke after inhalation of substance deemed harmful to bodily health of humans. 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 34 

SCHEDULE 5 
 LIST OF LICENCES 
(where applicable) 
 
		
	1.
	Advertisement Licence; 

		
	2.
	Vehicle Parking Certificate Parking Place Licence; 

		
	3.
	Foodshop Licence; 

		
	4.
	Dangerous Goods Licence; 

		
	5.
	Flammable Materials Licence; and 

		
	6.
	Any other requirements by Authorities, where such requirements are imposed due to the Tenant's or Sub-Tenants' use or requirements. 

 
 
 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 35 

 
IN WITNESS WHEREOF, the parties herein have caused this Tenancy Agreement to be executed on the day and year first abovewritten: 

	
			
	SIGNED by
	 
	 

	for and on behalf of
	 
	 

	RBC INVESTOR SERVICES TRUST
	 
	 

	SINGAPORE LIMITED
	 
	 

	(in its capacity as trustee of
	 
	 

	Cambridge Industrial Trust)
	 
	 

	in the presence of:
	 
	 

	 
	 
	/s/ Andrew Charles Allen

	 
	 
	Name: Andrew Charles Allen

	 
	 
	Designation: Authorised Signatory

	 
	 
	 

	 
	 
	/s/ Quek Jo Feng

	 
	 
	Name: Quek Jo Feng

	 
	 
	Designation: Authorised Signatory

	 
	 
	 

	/s/ Vanessa Low
	 
	 

	Witness' signature
	 
	 

	Name: Vanessa Low
	 
	 

	Identity Card / Passport No:
	 
	 

	 
	 
	 

	 
	 
	 

	Signed by Jeffrey Bertelsen
	 
	 

	for and on behalf of
	 
	 

	CYBEROPTICS (SINGAPORE) PRIVATE
	 
	 

	LIMITED
	 
	 

	In the presence of: David Hatteberg
	 
	 

	 
	 
	 

	 
	 
	/s/ Jeffrey Bertelsen

	 
	 
	Name: Jeffrey Bertelsen

	 
	 
	Designation: Executive Vice President

	 
	 
	   CFO/COO and Director

	 
	 
	 

	/s/ David Hatteberg
	 
	 

	Witness' signature
	 
	 

	Name: David Hatteberg
	 
	 

	Identity Card / Passport No: 439903670
	 
	 

	 
	 
	 

	 
	 
	 

 

     Tenancy Agreement – Cyberoptics (Singapore) Private Limited - Page 36 

 
ANNEXURE A 
PLAN OF PREMISESExhibit

Exhibit 10.3

WEST MARINE, INC.
ASSOCIATES STOCK BUYING PLAN

(Amended and Restated September 23, 2015) 

SECTION 1
PURPOSE
West Marine, Inc. established the West Marine, Inc. Associates Stock Buying Plan (the "Plan"), effective as of November 1, 1994, as amended and restated on November 1, 2009, in order to provide Eligible Employees of the Company and its participating Subsidiaries with the opportunity to purchase Common Stock through payroll deductions.  West Marine, Inc. hereby amends and restates the Plan, effective as of September 23, 2015.  Except as otherwise provided by the Committee, the terms and provisions of the Plan as set forth herein shall apply to enrollment and/or purchases made after such date. For the terms of any purchases made prior to such date, please see the version of the Plan document in effect for such period.

The Plan is intended to qualify as an employee stock purchase plan under Section 423 of the Code.  The provisions of the Plan, accordingly, shall be construed so as to extend and limit participation in a manner consistent with the requirements of that Section of the Code. The Plan is not intended to be an employee benefit plan under the Employee Retirement Income Security Act of 1974, and therefore is not required to comply with that Act.
 

SECTION 2
DEFINITIONS 
2.1"1934 Act" means the Securities Exchange Act of 1934, as amended.  Reference to a specific Section of the 1934 Act or regulation thereunder shall include such Section or regulation, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.
2.2 “Account” means the account established for each Participant into which the amount of each Participant’s payroll deductions shall be credited for the purchase of Common Stock pursuant to the Plan. No interest will be paid or allowed on amounts credited to a Participant’s Account. All payroll deductions received by the Company under the Plan are general corporate assets of the Company and may be used by the Company for any corporate purpose. The Company is not obligated to segregate such payroll deductions.
2.3"Board" means the Board of Directors of the Company.
2.4“Change in Control” means, and shall be deemed to have occurred upon the occurrence of, any one of the following events:  (a) the acquisition in one or more transactions, other than from the Company, by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act), other than the Company, a Subsidiary or any employee benefit plan (or related trust) sponsored or maintained by the Company or a Subsidiary, of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the 1934 Act) of a number of shares of the Company’s Common Stock in excess of 50% of the Company’s outstanding Common Stock unless such acquisition has been approved in advance by the Board; (b) any election has occurred of persons to the Board that causes two-thirds of the Board to consist of persons other than (i) persons who were members of the Board on the 

commencement date of the Plan under Section 12.2 and (ii) persons who were nominated for election as members of the Board at a time when two-thirds of the Board consisted of persons who were members of the Board on the commencement date of the Plan under Section 12.2, provided, however, that any person nominated for election by (x) a Board at least two-thirds of whom constituted persons described in clauses (i) and/or (ii) of this Section 2.3(b) or (y) by persons who were themselves nominated by such Board, shall for this purpose be deemed to have been nominated by a Board composed of persons described in clause (i) of this Section 2.3(b); (c) the consummation (i.e. closing) of a reorganization, merger or consolidation involving the Company, unless, following such reorganization, merger or consolidation, all or substantially all of the persons who were the respective beneficial owners of the Company’s outstanding Common Stock immediately prior to such reorganization, merger or consolidation, following such reorganization, merger or consolidation beneficially own, directly or indirectly, more than 75% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors of the entity resulting from such reorganization, merger or consolidation in substantially the same proportion as their ownership of the outstanding Common Stock of the Company immediately prior to such reorganization, merger or consolidation, as the case may be; and (d) the consummation (i.e. closing) of a sale or other disposition of all or substantially all the assets of the Company, unless, following such sale or disposition, all or substantially all of the persons who were the respective beneficial owners of the Company’s outstanding Common Stock immediately prior to such sale or disposition, following such sale or disposition beneficially own, directly or indirectly, more than 75% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors or trustees, as the case may be, of the entity acquiring such assets in substantially the same proportion as their ownership of the outstanding Common Stock of the Company’ immediately prior to such sale or disposition, as the case may be; or(e) a complete liquidation or dissolution of the Company.
2.5"Code" means the Internal Revenue Code of 1986, as amended.  Reference to a specific Section of the Code or regulation thereunder shall include such Section or regulation, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.
2.6"Committee" shall mean the committee appointed by the Company's Chief Executive Officer to administer the Plan.  The members of the Committee shall serve at the pleasure of the Chief Executive Officer.  Any member of the Committee may resign at any time by notice in writing mailed or delivered to the Secretary of the Company.
2.7"Common Stock" means the common stock of the Company.
2.8"Company" means West Marine, Inc., a Delaware corporation.
2.9"Compensation" means a Participant's base compensation, plus pay for overtime, holiday, and time off (such as sick and vacation pay), but excluding incentive pay (such as bonuses, commissions or stock compensation), fringe benefits, deferred compensation payments or payments connected with or after the termination of employment, calculated before reduction for  elective deferrals and deductions.
2.10"Disability" means a physical or mental condition whereby the Participant: (i) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under (A) an accident and health plan covering employees of the Company, (B) federal Social Security, or (C) a State disability income fund.  The Participant shall be responsible for submitting sufficient information (including doctor’s certifications) to establish the Disability.

2.11"Eligible Employee" means every Employee of an Employer who has been employed for such period as the Committee may determine (up to two years), except any Employee who, immediately after the grant of an option under the Plan, would own stock and/or hold outstanding options to purchase stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any Subsidiary of the Company (including stock attributed to such Employee pursuant to Section 424(d) of the Code).
2.12"Employee" means an individual who is a common-law employee of any Employer, whether such employee is so employed at the time the Plan is adopted or becomes so employed subsequent to the adoption of the Plan.
2.13"Employer" or "Employers" means any one or all of the Company and those Subsidiaries which, with the consent of the Board, have adopted this Plan.
2.14"Enrollment Date" means each May 1 and November 1, and/or such other dates determined by the Committee from time to time.
2.15“Enrollment Form” means a paper or electronic form provided by an Employer pursuant to which an Eligible Participant elects to enroll in the Plan.
2.16"Grant Date" means any date on which a Participant is granted an option under the Plan.
2.17“Hardship” means the Committee’s determination that a Participant has suffered or will suffer a severe financial hardship as a result of any of the following:
2.17.1Expenses for medical care described in Section 213(d) of the Internal Revenue Code previously incurred by Participant or Participant’s spouse or dependent, or necessary for Participant or Participant’s spouse or dependent to obtain medical care;
2.17.2Costs directly related to the purchase of Participant’s principal residence (excluding mortgage payments);
2.17.3Tuition, related educational fees, and room and board expenses for the next twelve (12) months of post-secondary education for Participant or Participant’s spouse or dependent; or
2.17.4Amounts necessary to prevent Participant’s eviction from Participant’s principal residence or foreclosure on the mortgage of Participant’s principal residence.
2.17.5Payments for burial or funeral expenses for the Participant’s deceased parent, spouse, children or dependents (as defined in Code Section 152 without regard to Code Section 152(d)(1)(B));
2.17.6Expenses for the repair of damage to the Participant’s principal residence that would qualify for the casualty deduction under Code Section 165 (determined without regard to whether the loss exceeds 10% of adjusted gross income); or
2.17.7Any other event as the Committee determines, by written resolution, will give rise to an immediate and heavy financial need.
2.18"Holding Period" shall mean that period of time beginning on the Purchase Date on which Shares are purchased by Participants under the Plan and ending twelve (12) calendar months thereafter.
2.19“Participant" means an Eligible Employee who (a) has become a Participant in the Plan pursuant to Section 4.1 and (b) has not ceased to be a Participant pursuant to Section 8 or Section 9.
2.20"Plan" means the Amended and Restated West Marine, Inc. Associates Stock Buying Plan, as set forth in this instrument and as hereafter amended or restated from time to time.
2.21"Purchase Date" means the last business day of April and October, or such other specific business days as may be established by the Committee from time to time prior to an Enrollment Date for all options to be granted on such Enrollment Date.
2.22"Subsidiary" means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if, at the time of granting options under the Plan, each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.

SECTION 3
SHARES SUBJECT TO THE PLAN
3.1.Number Available. As of September 23, 2015, a total of 355,022 shares of Common Stock are available for issuance pursuant to the Plan, which includes 2,050,000 shares of Common Stock that were previously reserved for issuance hereunder.  Shares sold under the Plan may be newly issued shares or treasury shares.
3.2.Adjustments.  In the event of any reorganization, recapitalization, stock split, reverse stock split, stock dividend, combination of shares, merger, consolidation, offering of rights or other similar change in the capital structure of the Company, the Board shall make such adjustment, if any, as it deems appropriate in the number, kind and purchase price of the shares available for purchase under the Plan and in the maximum number of shares subject to any option under the Plan.

SECTION 4
ENROLLMENT 
4.1.Participation.  Each Eligible Employee may elect to become a Participant by enrolling or re-enrolling in the Plan effective as of any Enrollment Date.  In order to enroll, an eligible employee must complete, sign (which includes electronic signature or acknowledgement) and submit to the Company an Enrollment Form in such form and format as may be specified by the Committee from time to time.  Any Enrollment Form received by the Company no later than fourteen (14) calendar days before an Enrollment Date shall be effective on that Enrollment Date, provided that the Committee, in its discretion, may (on a uniform and nondiscriminatory basis) specify an earlier or later deadline for the submission of Enrollment Forms.  Any Participant whose option expires and who has not withdrawn from the Plan automatically will be re-enrolled in the Plan on the Enrollment Date immediately following the Purchase Date on which his or her option expired.
4.2.Payroll Withholding.  On his or her Enrollment Form, each Participant must elect to make Plan contributions via payroll withholding from his or her Compensation at a rate equal to any whole percentage from 1% to such maximum percentage (not to exceed 10%) that the Committee may establish from time to time for all options to be granted on any Enrollment Date.  A Participant may elect to increase or decrease his or her rate of payroll withholding (effective as of the next Enrollment Date) by submitting a new Enrollment Form in accordance with such procedures as may be established by the Committee from time to time.  In order to be effective, the Enrollment Form must be received by the Company no later than fourteen (14) calendar days before the Enrollment Date elected for the change, provided that the Committee, in its discretion, may (on a uniform and nondiscriminatory basis) specify an earlier or later deadline for the submission of enrollment forms.  Any Participant who is automatically re-enrolled in the Plan will be deemed to have elected to continue his or her contributions at the percentage last elected by the Participant.

SECTION 5
OPTIONS TO PURCHASE COMMON STOCK
5.1.Grant of Option.  On each Enrollment Date on which the Participant enrolls or re-enrolls in the Plan, he or she shall be granted an option to purchase, at the price determined under Section 6.1, that number of whole shares of Common Stock that can be purchased or issued by the Company based upon that price with the amount held in the Participant’s Account.
5.2.Duration of Option.  Each option granted under the Plan shall expire on the earliest to occur of (a) the date which is 27 months from the Grant Date, or the expiration of any shorter option period established by the Committee prior to an Enrollment Date, (b) the completion of the purchase of 

shares on the applicable Purchase Date, or (c) the date on which the Participant ceases to be such for any reason.
5.3.Number of Shares Subject to Option.  The number of shares available for purchase by each Participant under the option will be established by the Committee from time to time prior to an Enrollment Date for all options to be granted on such Enrollment Date.  Notwithstanding the preceding, an option (taken together with all other options then outstanding under this Plan and under all other similar employee stock purchase plans of the Employers) shall not give the Participant the right to purchase shares at a rate which accrues in excess of $25,000 of fair market value at the applicable Grant Dates of such shares (less the fair market value at the applicable Grant Dates of any shares previously purchased during such year under options which have expired or terminated) in any calendar year during which such Participant is enrolled in the Plan at any time.
5.4.Other Terms and Conditions.  Each option shall be subject to the following additional terms and conditions: (a) payment for shares purchased under the option shall be made only through payroll withholding under Section 4.2 held in Participant’s Account; (b) purchase of shares upon exercise of the option will be accomplished only in installments in accordance with Section 6.1; (c) the price per share under the option will be determined as provided in Section 6.1; (d) the option in all respects shall be subject to such terms and conditions (applied on a uniform and nondiscriminatory basis), as the Committee shall determine from time to time in its discretion.

SECTION 6
PURCHASE OF SHARES 
6.1.Exercise of Option.  On each Purchase Date, the funds then credited to each Participant's Account shall be used to purchase shares of Common Stock.  The price of the shares purchased under any option shall be 85% of the lower of: (a) the closing price of Common Stock on the Grant Date for such option on the National Association of Securities Dealers National Market System; or (b) the closing price of Common Stock on that Purchase Date on the National Association of Securities Dealers National Market System.
6.2.Crediting of Shares.  Shares purchased on any Purchase Date shall be delivered to a broker designated by the Committee for the benefit of the Participant.  As determined by the Committee from time to time, such shares shall be delivered as physical certificates or by means of a book entry system.  Although the Participant may direct the broker to sell such shares at any time (subject to applicable securities laws and Section 7), the shares may not be transferred to another broker or to any other person (including the Participant) until 24 months after the Grant Date of the option with which the shares were purchased.  Upon expiration of the 24-month period a Participant may transfer such shares to an account at another brokerage firm of the Participant's choosing or request that a certificate that represents the shares be issued and delivered to the Participant.
6.3.Exhaustion of Shares.  If at any time the shares available under the Plan are over-enrolled, enrollments shall be reduced proportionately to eliminate the over-enrollment.  Any funds that cannot be applied to the purchase of shares due to over-enrollment shall be refunded to the Participants.

SECTION 7
HOLDING PERIOD
7.1.Dispositions Subject to Holding Period.  Subject to Section 7.2 below, a Participant may undertake a disposition, as that term is defined in Section 424(c) of the Code (which generally includes any sale, exchange, gift, or transfer of legal title), of shares in the Participant's brokerage account (as contemplated by Section 6.2) which were acquired on or after April 30, 2010, only after the expiration of the Holding Period.
7.2.Distributions Exempted from the Holding Period. Notwithstanding the foregoing, a Participant (or his or her beneficiary, if applicable) may undertake a disposition of any shares in the 

brokerage account prior to the expiration of the Holding Period upon the occurrence of any of the following events, in which case such disposition shall be made as soon as administratively practical following the effective date thereof:
7.2.1Death; 
7.2.2Disability;
7.2.3The cessation of Participant’s status as an Eligible Employee (for example, because of his or her termination of employment from all Employers for any reason); or
7.2.4Hardship -- provided that Participant certifies and agrees that: (i) the number of shares or other amounts subject to such disposition shall be limited to the amount reasonably necessary to meet the Participant's needs resulting from the Hardship plus amounts necessary to pay taxes or penalties reasonably anticipated as a result of the disposition; and (ii) Participant has first obtained all distributions (other than hardship distributions from the Company’s 401(k) plan) and nontaxable loans currently available to Participant under the Company’s other employee benefit plans or programs.

SECTION 8
WITHDRAWAL
8.1.Withdrawal.  A Participant may withdraw from the Plan by submitting a completed written notice of withdrawal in the form and manner provided for by the Company.  A withdrawal will be effective only if it is received by the Company at least fourteen (14) calendar days before the proposed date of withdrawal, provided that the Committee, in its discretion, may specify (on a uniform and nondiscriminatory basis) an earlier or later deadline for the submission of such written notice of withdrawal.  When a withdrawal becomes effective, the Participant's payroll contributions shall cease and all amounts then credited to the Participant's Account shall be distributed to him or her (without interest) as soon as reasonably practicable. Notwithstanding any contrary provision of the Plan, a Participant who has withdrawn from the Plan pursuant to this Section 8 may not re-enroll in the Plan until the next Enrollment Date after the date of his or her withdrawal.  A Participant’s withdrawal from the Plan shall not affect any shares held in the brokerage account for the benefit of the Participant, which shares shall remain subject to the Holding Period in Section 7.

SECTION 9
CESSATION OF PARTICIPATION
9.1.Termination of Status as Eligible Employee.  A Participant shall cease to be a Participant immediately upon the cessation of his or her status as an Eligible Employee (for example, because of his or her termination of employment from all Employers for any reason).  As soon as practicable after such cessation, the Participant's payroll contributions shall cease and all amounts then credited to the Participant's account shall be distributed to him or her (without interest).
9.2.Leave of Absence.  Unless a Participant voluntarily withdraws from the Plan, shares will be purchased for that Participant's Account on the Purchase Date next following commencement of a leave of absence by such Participant.  However, the Participant will cease to be a Participant immediately after such purchase of shares, provided that if and when he or she returns from the leave, he or she may re-enroll under Section 4.1, if then eligible.

SECTION 10
DESIGNATION OF BENEFICIARY
10.1Designation.  If permitted by the Committee, each Participant may, pursuant to such procedures as the Committee may specify, designate one or more beneficiaries to receive shares of Common Stock purchased under the Plan or any amounts credited to the Participant's Account in the event of his or her death subsequent to a Purchase Date but prior to delivery of such shares or cash.

10.2Changes.  A Participant may designate different beneficiaries (or may revoke a prior beneficiary designation) at any time by delivering a new designation (or revocation of a prior designation) in like manner.  Any designation or revocation shall be effective only if it is received by the Committee.  However, when so received, the designation or revocation shall be effective as of the date the notice is executed (whether or not the Participant still is living), but without prejudice to the Committee on account of any payment made before the change is recorded.  The last effective designation received by the Committee shall supersede all prior designations and the Committee may rely upon the most recent beneficiary designation it has on file as being the appropriate beneficiary(ies).
10.3Failed Designations.  If a Participant dies without having effectively designated a beneficiary, or if no beneficiary (primary or secondary) survives the Participant, any cash in the Participant's Account or shares of Common Stock shall be delivered to the executor or administrator of the  Participant’s estate, or if no such executor or administrator has been appointed to the knowledge of the Committee, in its sole discretion, may deliver such shares of Company Stock or cash to the spouse or any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Committee, then to such other person as the Committee may designate.

SECTION 11
ADMINSTRATION
11.1    Plan Administrator.  The Plan shall be administered by the Committee.  The Committee shall have the authority to control and manage the operation and administration of the Plan.
11.2    Actions by Committee.  Each decision of a majority of the members of the Committee then in office shall constitute the final and binding act of the Committee.  The Committee may act with or without a meeting being called or held and shall keep minutes of all meetings held and a record of all actions taken by written consent.
11.3    Powers of Committee.  The Committee shall have all powers and discretion necessary or appropriate to supervise the administration of the Plan and to control its operation in accordance with its terms, including, but not by way of limitation, the powers and authority conferred on the Committee elsewhere in this Plan in addition to the following discretionary powers:
11.3.1To interpret and determine the meaning and validity of the provisions of the Plan and the options and to determine any question arising under, or in connection with, the administration, operation or validity of the Plan and the options;
11.3.2To determine any and all considerations affecting the eligibility of any Employee to become a Participant or remain a Participant in the Plan; 
11.3.3To cause an Account or Accounts to be maintained for each Participant;
11.3.4To determine the time or times when, and the number of shares for which, options shall be granted; 
11.3.5To establish and revise an accounting method or formula for the Plan;
11.3.6To determine the manner and form in which shares are to be delivered to the designated broker;
11.3.7To determine the status and rights of Participants and their beneficiaries or estates;
11.3.8To employ such brokers, counsel, agents and advisers, and to obtain such broker, legal, clerical and other services, as it may deem necessary or appropriate in carrying out the provisions of the Plan; 
11.3.9To establish, from time to time, rules for the performance of its powers and duties and for the administration of the Plan;
11.3.10To adopt such procedures and subplans as are necessary or appropriate to permit participation in the Plan by Employees who are foreign nationals or employed outside of the United States; 

11.3.11To delegate to any one or more of its members or to any other person, severally or jointly, the authority to perform for and on behalf of the Committee one or more of the functions of the Committee under the Plan;
11.3.12To determine a waiver of the Holding Period due to a Participant’s Hardship;
11.3.13To determine whether a Participant has a Disability; and/or
11.3.14To perform or cause to be performed such further acts as it may deem necessary, appropriate, or convenient for the administration and/or operation of the Plan.
11.4    Decisions of Committee.  All actions taken and/or interpretations and decisions made, by the Committee in good faith in the exercise of authority conferred upon it by this Plan shall be conclusive and binding on all persons, including all Participants and their beneficiaries, and shall be given the maximum possible deference allowed by law.
11.5    Administrative Expenses.  All expenses incurred in the operation and administration of the Plan by the Committee, or otherwise, including legal fees and expenses, shall be paid and borne by the Employers, except any stamp duties or transfer taxes applicable to the purchase of shares may be charged to the Account of each Participant.  Any brokerage fees for the purchase of shares by a Participant shall be paid by the Company, but brokerage fees for the resale of shares by a Participant shall be borne by the Participant.
11.6    Eligibility to Participate.  No member of the Committee who is also an Employee of an Employer shall be excluded from participating in the Plan if otherwise eligible, but he or she shall not be entitled, as a member of the Committee, to act or pass upon any matters pertaining specifically to his or her own account under the Plan.
11.7    Limitation of Liability. No Employee of the Employers nor any member of the Committee or the Board shall be subject to any liability with respect to her or his duties under the Plan unless the person acts fraudulently or in bad faith.
11.8    Indemnification.  To the extent permitted by applicable law, each of the Employers shall, and hereby does, indemnify and hold harmless the members of the Committee, the Board, and any other Employee of the Employers with duties under the Plan who was or is a party, or is threatened to be made a party, to any threatened, pending or completed proceeding, wither civil, criminal, administrative, or investigative, from and against any and all losses, claims, damages or liabilities (including attorneys' fees and amounts paid, with the approval of the Board, in settlement of any claim) arising out of or resulting from the implementation of a duty, act or decision with respect to the Plan, so long as such duty, act or decision does not involve gross negligence or willful misconduct on the part of any such individual.
11.9    Reliance on Experts.  In making any determination or in taking or not taking any action under the Plan, the Committee or the Board, as the case may be, may obtain and may rely upon the advice of experts, including professional advisors to the Company. No director, officer or agent of the Employers shall be liable for any such action or determination taken or made or omitted in good faith.

SECTION 12
AMENDMENT, TERMINATION, DURATION AND CHANGE IN CONTROL
12.1    Amendment, Suspension, or Termination.  The Board, in its sole discretion, may amend, suspend or terminate the Plan, or any part thereof, at any time and for any reason.  If the Plan is terminated, the Board may elect to terminate all outstanding options either immediately or upon completion of the purchase of shares on the next Purchase Date, or may elect to permit options to expire in accordance with their terms (and participation to continue through such expiration dates).  If the options are terminated prior to expiration, all amounts then credited to Participants' accounts that have not been used to purchase shares shall be returned to the Participants (without interest) as soon as administratively practicable. Notwithstanding the foregoing, no such amendment or termination shall affect rights previously granted without the Participant’s consent. In addition, no amendment may be made without the 

prior approval of the Company’s stockholders unless required by applicable law or regulation and if such amendment would:
12.1.1    Increase the number of shares of the Company Common Stock that may be issued under the Plan;
12.1.2    Materially modify the requirements as to eligibility for participation in the Plan; or
12.1.3    Materially increase the benefits which accrue to Participants under the Plan.
12.2    Duration of the Plan.  The Plan, as amended and restated, shall commence on September 23, 2015, and subject to Section 12.1 (regarding the Board's right to amend or terminate the Plan), shall remain in effect thereafter.
12.3    In the event of a Change in Control, the Board may, in its sole discretion and without limiting or otherwise modifying the Board’s powers under Section 12.1, (a) permit outstanding options under the Plan to remain outstanding to the next Purchase Date or to permit options to expire in accordance with their terms, (b) approve conversion of options under the Plan into options to purchase securities of the successor or surviving entity in connection with a Change in Control event, (c) establish a new Purchase Date for outstanding options under the Plan that is prior to a Change in Control event, or (d) terminate outstanding options under the Plan and return amounts then credited to Participants’ accounts to Participants.

SECTION 13
GENERAL PROVISIONS 
13.1    Participation by Subsidiaries.  One or more Subsidiaries of the Company may become participating Employers by adopting the Plan and obtaining approval for such adoption from the Board.  By adopting the Plan, a Subsidiary shall be deemed to agree to all of its terms, including (but not limited to) the provisions granting exclusive authority (a) to the Board of Directors to amend the Plan, and (b) to the Committee to administer and interpret the Plan.  Any Subsidiary may terminate its participation in the Plan at any time.  The liabilities incurred under the Plan to the Participants employed by each Employer shall be solely the liabilities of that Employer, and no other Employer shall be liable for benefits accrued by a Participant during any period when he or she was not employed by such Employer.
13.2    Inalienability.  In no event may either a Participant, a former Participant or his or her beneficiary, spouse or estate, whether voluntarily or involuntarily, sell, transfer, anticipate, assign, hypothecate, pledge, or otherwise dispose of any right or interest under the Plan; and such rights and interests shall not at any time be subject to the claims of creditors nor be liable to attachment, execution or other legal process.  Any attempt at assignment, transfer, pledge or other disposition shall be without effect. Accordingly, for example, a Participant's interest in the Plan is not transferable pursuant to a domestic relations order.  The preceding shall not affect the Participant's right to direct the sale or transfer of shares that have been allocated to the Participant's account at the broker designated by the Participant (subject to the provisions of the Plan).
13.3    Severability.  In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included.
13.4    Requirements of Law.  The granting of options and the issuance of shares shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as the Committee may determine are necessary or appropriate.
13.5    No Enlargement of Employment Rights.  Neither the establishment or maintenance of the Plan, the granting of any options, the purchase or any shares, nor any action of any Employer or the Committee, shall be held or construed as a contract or confer upon any individual any right to be continued as an employee of the Employer nor, upon dismissal, any right or interest in any specific assets of the Employers other than as provided in the Plan.  Each Employer expressly reserves the right to discharge any employee at any time, with or without cause.

13.6    Apportionment of Costs and Duties.  All acts required of the Employers under the Plan may be performed by the Company for itself and its Subsidiary, and the costs of the Plan may be equitably apportioned by the Committee among the Company and the other Employers.  Whenever an Employer is permitted or required under the terms of the Plan to do or perform any act, matter or thing, it shall be done and performed by any officer or employee of the Employer who is thereunto duly authorized by the board of directors of the Employer.
13.7    Construction and Applicable Law.  The Plan is intended to qualify as an "employee stock purchase plan" within the meaning of Section 423 of the Code.  Any provision of the Plan which is inconsistent with Section 423 of the Code shall without further act or amendment by the Company or the Board be reformed to comply with the requirements of Section 423.  The provisions of the Plan shall be construed, administered and enforced in accordance with such Section and with the laws of the State of California (excluding California's conflict of laws provisions).
13.8    Captions.  The captions contained in the Plan are inserted only as a matter of convenience and for reference and in no way define, limit, enlarge or describe the scope or intent of the Plan nor in any way shall affect the construction of any provision of the Plan.
13.9    Non-Business Days.  When any act under the Plan is required to be performed on a day that falls on a Saturday, Sunday or U.S. federal holiday, that act shall be performed on the next succeeding day which is not a Saturday, Sunday or U.S. federal holiday.
13.10    Compliance with Securities Laws.  The Plan, the granting of options under the Plan and the offer, issuance and delivery of Common Stock, are subject to compliance with all applicable federal and state laws, rules and regulations (including, but not limited to, state and federal securities laws) and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith.  The person acquiring any securities under the Plan will, if requested by the Company and as a condition precedent to the exercise of her or his option, provide such assurances and representations to the Company as the Committee may deem necessary or desirable to assure compliance with all applicable legal requirements.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00255-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00255-of-00352.parquet"}]]