Document:

Exhibit 10.21

 

OFFICE LEASE

 

BY AND BETWEEN

 

M WEST PROPCO XX, LLC,

a Delaware limited liability company

as Landlord

 

and

 

ENOVIX CORPORATION,

a Delaware corporation

as Tenant

 

For Premises located at

 

3501 W. Warren Avenue,

Fremont, California

 

MWest Lease Propco XX. LLC

[Enovix Corporation]

 

    

     

    

 

LEASE

 

This Lease is dated as of the date specified
in Section A of the Summary of Basic Lease Terms and is made by and between the party identified as Landlord in Section B
of the Summary and the party identified as Tenant in Section C of the Summary.

 

SUMMARY OF BASIC LEASE TERMS

 

	SECTION	 
	(LEASE REFERENCE)	TERMS
	 	 
	A.	Date:	December
    4, 2013
	 	 	 
	B.	Landlord:	M West
    Propco XX, LLC
	 	 	a Delaware
    limited liability company
	 	 	 
	C.	Tenant:	Enovix
    Corporation,
	 	 	a Delaware
    corporation
	 	 	 
	D.	Premises:

                                                                        (§
                                            1.1)
	That
    area consisting of approximately 37,738 rentable square feet of space in the Building and commonly known as 3501W. Warren Avenue,
    as further set forth on Exhibit A attached hereto. 
	 		
	E.	Building:

                                                                        (§
                                            1.2)
	That
    certain one (1) story office building consisting of approximately 68,658 rentable square feet and located at the intersection of
    W. Warren Avenue and Fremont Boulevard, Fremont, California.
	 		
	F.	Project:	That
    certain office project described further in Section 1.1.2 of this Lease.
	 	(§ 1.2)	
	 	 	 
	G.	Tenant’s
                                            Share:

                                                                        (§
                                            3.2.2.5)
	54.9652%
    of the Building, based on the ratio that the rentable square footage of the Premises bears to the total rentable square footage in
    the Building.
	 		
	H.	Tenant’s
                                            Allocated Parking:

                                                                                (Art.
                                            19)
	3.3
    unreserved parking passes for every 1,000 rentable square feet of the Premises (i.e., one hundred twenty-four (124) unreserved parking
    passes, based on 37,738 rentable square feet in the Premises).
	 		
	I.	Lease Term:	Eighty-four
    (84) months (plus any partial month at the beginning of the Lease Term).
	 	(§ 2.1)	
	 	 	 
	J.	Lease
                                            Commencement Date:

                                                                                (§
                                            2.1)
	The
    earlier to occur of (i) the date upon which Tenant first commences to conduct business in the Premises, and (ii) January 1, 2014,
	 		
	K.	Lease
                                            Expiration Date:

                                                                        (§ 2.1)
	The
    last day of the calendar month in which the seventh (7th) anniversary of the Lease Commencement Date occurs; provided,
    however, to the extent the Lease Commencement Date occurs on the first day of a calendar month, then the Lease Expiration Date shall
    be the day immediately preceding the seventh (7th) anniversary of the Lease Commencement Date.

  

    

     

    

 

	L.	Base Monthly Rent:	 
	 	(§ 3.1)	 

 

	 	 	 	 	 	 	 	 	Approximate Monthly	 
	Period During	 	 	 	 	 	 	 	Base Rental Rate per	 
	Lease Term	 	Annual Base Rent	 	 	Base Monthly Rent*	 	 	Rentable Square Foot	 
	Lease Months 1 – 12**	 	$	375,870.48	 	 	$	31,322.54	 	 	$	0.83	 
	Lease Months 13 – 24	 	$	389,025.95	 	 	$	32,418.83	 	 	$	0.86	 
	Lease Months 25 – 36	 	$	402,641.85	 	 	$	33,553.49	 	 	$	0.89	 
	Lease Months 37 – 48	 	$	416,734.32	 	 	$	34,727.86	 	 	$	0.92	 
	Lease Months 49 – 60	 	$	431,320.02	 	 	$	35,943.34	 	 	$	0.95	 
	Lease Months 61 – 72	 	$	446,416.22	 	 	$	37,201.35	 	 	$	0.99	 
	Lease Months 73 – 84	 	$	462,040.79	 	 	$	38,503.40	 	 	$	1.02	 

 

*The initial installment of Base Monthly Rent was calculated by multiplying
the initial Approximate Monthly Base Rental Rate per Rentable Square Foot by the number of rentable square feet of space in the Premises,
and the Annual Base Rent was calculated by multiplying the corresponding installment of Base Monthly Rent by twelve (12). In all subsequent
Base Rent payment periods during the Lease Term, the calculation of Annual Base Rent (and subsequent installment of Base Monthly Rent)
reflects an annual increase of three and one-half percent (3.5%).

 

**Subject to the terms set forth in Section 3.1 below, the monthly
installment of Base Monthly Rent for the first nine (9) Lease Months shall be abated.

 

	M.	Prepaid Rent:	$31,332.54.
	 	(§ 3.3)	 
	 	 	 
	N.	Security Deposit:	$38,503.40, subject to the terms of Section
    3.6 of the Lease.
	 	(§ 3.6)	 
	 	 	 
	O.	Permitted
                                            Use:

                                 (§
                                 4.1)
	The Premises shall be
    used solely for (i) general office use, (ii) research and development, product testing and laboratory use, (iii) light manufacturing,
    (iv) storage, and (v) uses incidental to the foregoing (collectively, the “Permitted Uses”) in connection
    with Tenant’s production of small batteries, to the extent consistent with the Project, but for no other purpose, and in all
    cases subject to the terms and conditions set forth in Article 4 of the Lease and all applicable Laws.

 

    -2-

     

    

 

	P.	Landlord’s Address:	M West Propco XX, LLC
	 	 	c/o MWest Properties
	 	 	3351 Olcott Street
	 	 	Santa Clara, CA 95054
	 	 	Attn: Property Manager
	 	 	 
	 	With copies to:	DivcoWest Real Estate Services, Inc.
	 	 	575 Market Street, 35th floor
	 	 	San Francisco, CA 94105
	 	 	Attn: Steve Novick
	 	 	 
	 	 	and:
	 	 	 
	 	 	DivcoWest Real Estate Services, Inc.
	 	 	575 Market Street, 35th Floor
	 	 	San Francisco, CA 94105
	 	 	Attn: Jackie Moore, Esq.
	 	 	 
	 	 	and:
	 	 	 
	 	 	Allen Matkins Leck Gamble Mallory & Natsis LLP
	 	 	1901 Avenue of the Stars, Suite 1800
	 	 	Los Angeles, CA 90067
	 	 	Attn: Tony N. Natsis, Esq.
	 	 	 
	Q.	Tenant’s Address:	Enovix Corporation
	 	 	3481 W. Warren Avenue
	 	 	Fremont, California 94538
	 	 	 
	R.	Brokers:	Tenant’s Broker:
	 	(§ 21.30)	CBRE, Inc.
	 	 	225 W. Santa Clara St., 10th Floor
	 	 	San Jose, CA 95113
	 	 	Attention: Tom Taylor, Chris Shepherd
	 	 	 
	 	 	Landlord’s Broker:
	 	 	CBRE, Inc.
	 	 	225 W. Santa Clara St., 10th Floor
	 	 	San Jose, CA 95113
	 	 	Attention: Sherman Chan, Joe Kelly, Matt Wersel
	 	 	 
	S.	Intentionally Omitted	 
	 	 	 
	T.	Tenant Improvement Allowance:	$320,000.00.
	 	(§ 2.1 of Exhibit B)	 

 

    -3-

     

    

 

The foregoing Summary is hereby incorporated into
and made a part of this Lease. Each reference in this Lease to any term of the Summary shall mean the respective information set forth
above and shall be construed to incorporate all of the terms provided under the particular paragraph pertaining to such information. In
the event of any conflict between the Summary and the Lease, the Summary shall control.

 

ARTICLE 1

PREMISES, BUILDING, PROJECT AND COMMON AREAS

 

1.1       Premises.
Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises set forth in Section D of the Summary for
the Lease Term and upon the terms and conditions set forth in this Lease. Landlord reserves the right to use the exterior walls, floor,
and roof in, beneath and above the Premises for the installation, repair, maintenance, use, and replacement of structural systems, utility
lines and systems, ducts, wires, conduits and pipes leading through the Premises as Landlord deems necessary. In exercising its rights
reserved herein, Landlord shall not unreasonably interfere with the operation of Tenant’s
business operations from the Premises.

 

1.2       Building
and Project. The Premises are a part of the building set forth in Section E of the Summary (the “Building”).
The Building is part of the office project set forth in Section F of the Summary. The term “Project”,
as used in this Lease, shall mean (i) the Building and the Common Areas (as defined in Section 1.3 below), (ii) the land (as improved
with any landscaping, parking improvements and other improvements) upon which the Building and the Common Areas are located, and (iii)
at Landlord’s reasonable discretion, any additional real property, areas, land, buildings
or other improvements added thereto outside of the Project.

 

1.3       Common
Areas. Tenant shall have the non-exclusive right to use in common with other tenants and occupants at the Project, and subject to
any rules and regulations promulgated by Landlord from time to time pursuant to Section 4.5 of this Lease, those portions of the
Project which are provided, from time to time, for use in common by Landlord, Tenant and any other tenants or occupants at the Project
(such areas, together with such other portions of the Project designated by Landlord, in its discretion, are collectively referred to
herein as the “Common Areas”). The manner
in which the Common Areas are maintained and operated shall be at the reasonable discretion of Landlord and the use thereof shall be subject
to any rules and regulations, as amended, promulgated by Landlord from time to time in Landlord’s
reasonable discretion. Landlord reserves the right to temporarily close, make alterations or additions to, or change the location of elements
of the Project and the Common Areas. Landlord reserves the right, without the same constituting an actual or constructive eviction and
without entitling Tenant to any abatement of Rent, to: (i) close any part of the Common Areas to whatever extent required in Landlord’s
opinion to prevent a dedication thereof or the accrual of any prescriptive rights therein; (ii) temporarily close the Common Areas to
perform repairs or maintenance, or for any other reason deemed necessary by Landlord; (iii) change the shape, size, location and extent
of the Common Areas; (iv) eliminate from or add to the Common Areas any land or improvement; (v) make changes to the Common Areas including,
without limitation, changes in the location of driveways, entrances, passageways, doors and doorways, elevators, stairs, restrooms, exits,
parking spaces, parking areas, sidewalks or the direction of the flow of traffic and the site of the Common Areas; and (vi) change the
name or address of the Building or Project. In exercising its rights with regard to the Common Area set forth above, Landlord shall use
commercially reasonable efforts to not materially interfere with Tenant’s use of, or access
to, the Premises.

 

1.4       Rentable
Square Feet of Premises. Landlord and Tenant hereby stipulate and agree that the rentable square footage of the Premises is as set
forth in Section D of the Summary.

 

    -4-

     

    

 

1.5       Expansion
Space. Landlord hereby grants to the originally named Tenant herein (“Original Tenant”)
and any “Permitted Assignee” (as that term is
defined in Section 14.9 below) the option to lease approximately 14,904 rentable square feet of space in the Building, which space
is commonly known as 3481 W. Warren Avenue (the “Warren Expansion Space”),
upon the terms and conditions set forth in this Section 1.5 and this Lease.

 

1.5.1.       Method
of Exercise. The expansion option contained in this Section 1.5 shall be exercised only by Original Tenant and any Permitted
Assignee (and not by any assignee, sublessee or other “Transferee,” as
that term is defined in Section 14.1 of this Lease, of Tenant’s interest in this Lease).
If Tenant elects to exercise its expansion option, then on or before the first (1st) anniversary of the Lease Commencement
Date (for purposes of this Section 1.5, such period between the Lease Commencement Date and the first (1st) anniversary
of such Lease Commencement Date shall be referred to as the “Expansion Period”),
Tenant shall deliver written notice to Landlord stating that Tenant has elected to exercise its expansion option with respect to the Warren
Expansion Space (“Tenant’s Expansion
Notice”).

 

1.5.2.       Delivery
of the Warren Expansion Space. Landlord shall deliver the Warren Expansion Space to Tenant, and the term of Tenant’s
lease of the Warren Expansion Space shall commence on the date that occurs five (5) business days after the parties execute the “Expansion
Space Amendment” (as that term is defined in Section 1.5.7 below) and Landlord has
received the “Expansion Space Security Deposit” (as
that term is defined in Section 1.5.6 below) from Tenant (the “Warren Expansion
Space Commencement Date”) and shall expire on the Lease Expiration Date, as the same
shall be extended pursuant to Section 1.5.3 below.

 

1.5.3.       Lease
Expiration Date. As of the Warren Expansion Space Commencement Date, the Lease Expiration Date shall be extended to the last day of
the calendar month in which the tenth (10th) anniversary of the Lease Commencement Date occurs (provided, however, to the extent
the Lease Commencement Date occurs on the first day of a calendar month, then the new Lease Expiration Date shall be the day immediately
preceding the tenth (10th) anniversary of the Lease Commencement Date).

 

1.5.4.       Base Monthly
Rent.

 

1.5.4.1       Initial
Premises. Effective as of the next installment of Base Monthly Rent due and payable by Tenant after the Warren Expansion Space Commencement
Date, the Monthly Base Rental Rate per rentable square foot of the initial Premises shall increase by Zero and 30/100 Dollars ($0.30)
per rentable square foot until the next anniversary of the Lease Commencement Date, and thereafter, on each anniversary of the Lease Commencement
Date, the Monthly Base Rental Rate for the initial Premises shall increase by three and one-half percent (3.5%), which product shall be
further increased by Zero and 30/100 Dollars ($0.30) per rentable square foot, and then that sum shall be multiplied by the total rentable
square footage for the initial Premises.

 

1.5.4.2     Warren
Expansion Space. The Monthly Base Rental Rate per rentable square foot payable by Tenant for the Warren Expansion Space shall be equal
to the Monthly Base Rental Rate per rentable square foot then due and payable by Tenant for the initial Premises pursuant to the terms
and conditions of this Lease (including, without limitation, Section 1.5.4.1 above).

 

1.5.5.       Construction
of Expansion Space. Tenant shall take the Warren Expansion Space in its then existing, “AS-IS” condition
as of the Warren Expansion Space Commencement Date. Upon the Warren Expansion Space Commencement Date, Section T of the
Summary of this Lease shall be amended to delete the figure “$320,000.00” and
replace with the figure “$2,070,000.00,” which
amount may be applied to costs relating to the design and construction of Tenant’s
improvements that are permanently affixed to the initial Premises and/or the Warren Expansion Space. The construction of
improvements in the Warren Expansion Space shall comply with the terms of Exhibit B attached to this Lease.

 

    -5-

     

    

 

1.5.6.       Security
Deposit.

 

1.5.6.1       In
General. As part of the “Expansion Space Amendment” (as
that term is defined in Section 1.5.7 below), the Security Deposit shall be increased to an amount equal to nine (9) months of
Base Monthly Rent for the entire Premises (i.e., the initial Premises and the Warren Expansion Space) for the last month of the Lease
Term (as the same may be extended pursuant to Section 1.5.3 above). Concurrently with Tenant’s
execution of the Expansion Space Amendment, Tenant shall deliver to Landlord an amount equal to the difference between (i) such amount,
and (ii) the amount of the Security Deposit then held by Landlord (such amount, the “Expansion
Space Security Deposit”) as security for the faithful performance by Tenant of the terms,
covenants and conditions of the Lease. Notwithstanding anything to the contrary set forth in this Lease, the parties hereby agree that
the “Initial Security Deposit” and any “Additional
Security Deposit” (as those terms are defined in Section 3.6 below) and the Expansion
Space Security Deposit shall collectively be treated as a single “Security Deposit”
for all purposes under the Lease.

 

1.5.6.2       Reduction
of Security Deposit. As of the Warren Expansion Space Commencement Date, subject to the terms of this Section 1.5.6.2, the
amount of the Security Deposit shall be reduced by twenty-five percent (25%) during the Lease Term on the third (3rd) anniversary
of the Lease Commencement Date, and each anniversary thereafter, through and including the seventh (7th) anniversary of the
Lease Commencement Date (each of the third (3rd), fourth (4th), fifth (5th), sixth (6th) and
seventh (7th) anniversaries of the Lease Commencement Date, a “Reduction Date”).
Notwithstanding the foregoing or any provision to the contrary in this Lease, the Security Deposit shall not reduce on any Reduction
Date to the extent that Tenant fails to tender to Landlord evidence reasonably satisfactory to Landlord that Tenant satisfies the “Reduction
Conditions” (as that term is defined below). For purposes of this Section 1.5.6.2,
the “Reduction Conditions” shall mean
(a) Tenant has timely paid all monthly installments of “Rent” (as
that term is defined in Section 3.2 below) under this Lease, (b) no monetary or material non-monetary default exists under this
Lease, and (c) Tenant’s tangible net worth, as evidenced by financial statements delivered
to Landlord and certified by an independent certified public accountant in accordance with generally accepted accounting principles that
are consistently applied (“Net Worth”),
is at least equal to Tenant’s Net Worth as of the date of this Lease.

 

1.5.7.       Amendment
to Lease. If Tenant timely exercises Tenant’s right to lease the Warren Expansion Space
as set forth herein, then, within fifteen (15) days thereafter, Landlord and Tenant shall execute an amendment (the “Expansion
Space Amendment”) adding the Warren Expansion Space to this Lease upon the same terms
and conditions as the initial Premises, except as otherwise set forth in this Section 1.5. For purposes of calculating Tenant’s
obligations under Article 3 of this Lease, Tenant’s Share shall be increased by an
amount equal to the rentable square footage of the Warren Expansion Space leased by Tenant pursuant to this Section 1.5 divided
by the total rentable square footage of the Building. Except to the extent inconsistent with the provisions of this Section 1.5,
all provisions of the Lease which vary based upon the rentable square footage of the Premises shall be adjusted to reflect the addition
of the Warren Expansion Space to the Premises. The Expansion Space Amendment, if applicable, shall be executed by Landlord and Tenant
within fifteen (15) days following Tenant’s exercise of its expansion option for the Warren
Expansion Space; provided, however, an otherwise valid exercise of Tenant’s expansion option
shall be of full force and effect irrespective of whether the Expansion Space Amendment is timely signed by Landlord and Tenant.

 

    -6-

     

    

 

1.5.8.       Termination
of Expansion Option. The rights contained in this Section 1.5 shall be personal to Original Tenant, and may only be exercised
by Original Tenant and its Permitted Assignees (and not by any assignee, sublessee, or other Transferee of Tenant’s
interest in this Lease) if the Lease then remains in full force and effect and if Original Tenant or its Permitted Assignee occupies the
entire Premises. Tenant shall not have the right to lease the Warren Expansion Space as provided in this Section 1.5 if, as of
the date of the attempted exercise of the expansion option by Tenant, or as of the scheduled Warren Expansion Space Commencement Date,
Tenant is in monetary or material non-monetary default under this Lease . If Tenant fails to exercise the expansion option set forth in
this Section 1.5 prior to the expiration of the Expansion Period, then Tenant’s expansion
option shall automatically terminate and be of no further force or effect.

 

1.6       Right
of First Refusal with respect to 46600 Fremont Boulevard. If, and only if, Tenant timely exercises its expansion option described
in Section 1.5 of this Lease with respect to the Warren Expansion Space, and subject to the terms and conditions of this Section
1.6 below, Landlord hereby grants to the Original Tenant and its Permitted Assignees a one-time right of first refusal with respect
to approximately 16,016 rentable square feet of space in the Building, which space is commonly known as 46600 Fremont Boulevard (the “Fremont
ROFR Space”).

 

1.6.1.       Procedure
for Offer. Landlord shall notify Tenant (the “Fremont ROFR Notice”)
during the twelve (12) month period following the date of Tenant’s Expansion Notice (the
“ROFR Period”) when and if Landlord has
agreed to the fundamental economic terms for lease of the Fremont ROFR Space to a third party. Pursuant to such Fremont ROFR Notice, Landlord
shall offer to lease to Tenant the Fremont ROFR Space. The Fremont ROFR Notice shall describe the Fremont ROFR Space, and the lease term,
rent and other fundamental economic terms and conditions upon which Landlord proposes to lease such Fremont ROFR Space to a third party.

 

1.6.2.       Procedure
for Acceptance. If Tenant wishes to exercise Tenant’s right of first refusal with respect
to the Fremont ROFR Space described in the Fremont ROFR Notice, then within five (5) business days of delivery of the Fremont ROFR Notice
to Tenant, Tenant shall deliver notice to Landlord of Tenant’s exercise of its right of first
refusal with respect to all of the Fremont ROFR Space described in the Fremont ROFR Notice, at the rent, for the term, and upon the other
fundamental economic terms and conditions contained in such Fremont ROFR Notice. If Tenant does not so notify Landlord within such five
(5) business day period of Tenant’s exercise of its first refusal right, then Landlord shall
be free to negotiate and enter into a lease for the Fremont ROFR Space with anyone whom it desires on any terms Landlord desires.

 

1.6.3.       Amendment
to Lease. If Tenant timely exercises Tenant’s right of first refusal to lease the Fremont
ROFR Space as set forth herein, Landlord and Tenant shall, within fifteen (15) days thereafter, execute an amendment (the “ROFR
Space Amendment”) adding the Fremont ROFR Space to this Lease upon the express terms
and conditions set forth in the Fremont ROFR Notice, but otherwise upon the terms and conditions set forth in this Lease and this Section
1.6. The ROFR Space Amendment, if applicable, shall be executed by Landlord and Tenant within fifteen (15) days following Tenant’s
exercise of its right to lease the Fremont ROFR Space; provided, however, an otherwise valid exercise of Tenant’s
right of first refusal shall be of full force and effect irrespective of whether the ROFR Space Amendment is timely signed by Landlord
and Tenant.

 

1.6.4.       Termination
of First Refusal Right. The rights contained in this Section 1.6 shall be personal to Original Tenant, and may only be exercised
by Original Tenant and its Permitted Assignees (and not by any assignee, sublessee, or other Transferee of Tenant’s
interest in this Lease) if the Lease then remains in full force and effect and if Original Tenant occupies the entire Premises (i.e.,
the initial Premises and the Warren Expansion Space). Tenant shall not have the right to lease the Fremont ROFR Space as provided in
this Section 1.6 if, as of the date of the attempted exercise of the right of first refusal by Tenant, or as of the scheduled
date of delivery of the Fremont ROFR Space, Tenant is in monetary or material non-monetary default under this Lease. If Tenant does not
exercise the right of first refusal set forth in this Section 1.6 prior to the expiration of the ROFR Period (whether or not Landlord
has delivered a Fremont ROFR Notice), then Tenant’s right of first refusal shall automatically
terminate and be of no further force or effect.

 

    -7-

     

    

 

ARTICLE 2

LEASE TERM; DELIVERY OF PREMISES

 

2.1       Lease
Term. The terms and conditions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease
Term”) shall commence on the “Lease Commencement
Date”, as that term is set forth in Section J of the Summary, and shall terminate
on the “Lease Expiration Date”, as that
term is set forth in Section K of the Summary, unless this Lease is sooner terminated as provided in this Lease. For purposes of
this Lease, the term “Lease Year” shall
mean each consecutive twelve (12)-month period during the Lease Term; provided, however, that the first Lease Year shall commence on the
Lease Commencement Date and end on the last day of the month in which the first anniversary of the Lease Commencement Date occurs (or,
if the Lease Commencement Date is the first day of a calendar month, then the first Lease Year shall commence on the Lease Commencement
Date and end on the day immediately preceding the first anniversary of the Lease Commencement Date), and the second and each succeeding
Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the
Lease Expiration Date. For purposes of this Lease, the term “Lease Month”
shall mean each succeeding calendar month during the Lease Term; provided that the first Lease Month shall
commence on the Lease Commencement Date and shall end on the last day of the calendar month in which the Lease Commencement Date occurs
and that the last Lease Month shall expire on the Lease Expiration Date. If Landlord is unable to deliver possession of the Premises to
Tenant on any specific date for any reason whatsoever, then this Lease shall not be void or voidable, and Landlord shall not be liable
to Tenant for any loss or damage resulting therefrom.

 

2.2       Delivery
of Premises. Tenant acknowledges that it has had an opportunity to conduct, and has conducted, such inspections of the Premises as
it deems necessary to evaluate its condition. Except as otherwise specifically provided herein, Tenant shall accept possession of the
Premises in its then existing “AS-IS” condition.
At the time following Landlord’s delivery of possession of the Premises to Tenant, Landlord
may deliver to Tenant a notice in the form attached to this Lease as Exhibit C as a confirmation only of the information set forth
therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, if such
notice is not factually correct, then Tenant shall make such changes as are necessary to make such notice factually correct and shall
thereafter return such notice to Landlord within said ten (10) business day period. Tenant’s
failure to timely execute and return such notice to Landlord shall be deemed Tenant’s acknowledgement
of the truth of the information set forth in such notice.

 

2.3       Delivery
Condition. Notwithstanding anything set forth in Section 2.2 above to the contrary. Landlord shall cause the “Building
Systems,” as that term is defined below, which serve the Premises to be in good working
condition and repair upon the delivery of the Premises to Tenant. In addition, promptly after the full execution and delivery of
this Lease, Landlord shall provide to Tenant a copy of Landlord’s most recent heating,
ventilation and air conditioning system report. The foregoing shall not be deemed to require Landlord to replace any of the Building
Systems, as opposed to repair any Building Systems except to the extent necessary. If, during the first ninety (90) days of the
Lease Term, there is a failure of any Building System(s) for any reason other than as a result of actions taken by Tenant or
Tenant’s agents, Landlord shall not be liable to Tenant for any damages, but as
Tenant’s sole remedy. Landlord, at no cost to Tenant (and which shall not be included
in “Operating Expenses,” as that term is
defined in Section 3.2.2.2 below), shall perform such work or take such other action as may be necessary to place the same in
good working condition and repair. As used herein the term “Building
Systems” shall mean the plumbing, sewer, drainage, electrical, fire protection,
life safety systems and equipment, existing heating, ventilation and air conditioning systems, the compressed dry air system, and
all other mechanical and electrical systems and equipment which are located in the internal core of the Building and which serve the
Building generally.

 

    -8-

     

    

 

2.4       Option
Term.

 

2.4.1.       Option
Right. Landlord hereby grants to the Original Tenant and its Permitted Assignees one (1) option to extend the Lease Term for a period
of five (5) years (the “Option Term”),
which option shall be irrevocably exercised only by written notice delivered by Tenant to Landlord not earlier than twelve (12) months
and not later than nine (9) months prior to the Lease Expiration Date (as the same may be extended pursuant to Section 1.5.3 above),
provided that the following conditions (the “Option Conditions”)
are satisfied: (i) as of the date of delivery of such notice, Tenant is not in default under this Lease; (ii) as of the end of the Lease
Term, Tenant is not in default under this Lease; (iii) Tenant has not previously been in default under this Lease (beyond any applicable
notice and cure period) more than once; and (iv) the Lease then remains in full force and effect and Original Tenant occupies the entire
Premises at the time the option to extend is exercised and as of the commencement of the Option Term. Landlord may, at Landlord’s
option, exercised in Landlord’s sole and absolute discretion, waive any of the Option Conditions
in which case the option, if otherwise properly exercised by Tenant, shall remain in full force and effect. Upon the proper exercise of
such option to extend, and provided that Tenant satisfies all of the Option Conditions (except those, if any, which are waived by Landlord),
the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years. The rights contained in this Section
2.4 shall be personal to Original Tenant and may be exercised by Original Tenant and its Permitted Assignees only (and not by any
assignee, sublessee or other Transferee of Tenant’s interest in this Lease).

 

2.4.2.       Option
Rent. The annual Rent payable by Tenant during the Option Term (the “Option
Rent”) shall be equal to the “Fair
Market Rent Rate,” as that term is defined below, for the Premises as of the
commencement date of the Option Term. The “Fair Market Rent Rate,” as
used in this Lease, shall be determined by calculating the net rent, which net rent shall then be adjusted on an effective basis,
which net effective rent shall then be present valued and reduced by all upfront concessions and, thereafter, shall be future valued
into an average annual constant rental rate figure (collectively, the “Constant Rate
Equivalent Approach”). The Fair Market Rent Rate shall take into consideration any “base
year” or “expense stop” applicable
thereto), including all escalations, at which tenants (pursuant to leases consummated within the twelve (12) month period preceding
the first day of the Option Term), are leasing non-sublease, non-encumbered, non-equity space comparable in size, location and
quality to the Premises and consisting of at least thirty-five thousand (35,000) rentable square feet or greater transactions, for a
term of five (5) years, in an arm’s length transaction, which comparable space is
located in “Comparable Buildings,” as that
term is defined in this Section 2.4.2, below (transactions satisfying the foregoing criteria shall be known as the “Comparable
Transactions”), taking into consideration the following concessions (the “Concessions”):
(a) rental abatement concessions, if any, being granted such tenants in connection with such comparable space; (b) tenant
improvements or allowances provided or to be provided for such comparable space, and taking into account the value, if any, of the
existing improvements in the subject space, such value to be based upon the age, condition, design, quality of finishes and layout
of the improvements provided that for purposes of determining the Fair Market Rent Rate, the value of the then existing improvements
in the Premises shall not exceed an amount equal to Sixty and 00/100 Dollars ($60.00) per rentable square foot of the Premises; and
(c) other reasonable monetary concessions being granted such tenants in connection with such comparable space; provided, however,
that in calculating the Fair Market Rent Rate, no consideration shall be given to (i) the fact that Landlord is or is not required
to pay a real estate brokerage commission in connection with Tenant’s exercise of its
right to extend the Lease Term, or the fact that landlords are or are not paying real estate brokerage commissions in connection
with such comparable space, and (ii) any period of rental abatement, if any, granted to tenants in Comparable Transactions in
connection with the design, permitting and construction of tenant improvements in such comparable spaces. The Fair Market Rent Rate
shall additionally include a determination as to whether, and if so to what extent, Tenant must provide Landlord with financial
security, such as a letter of credit or guaranty, for Tenant’s Rent obligations in
connection with Tenant’s lease of the Premises during the Option Term. Such
determination shall be made by reviewing the extent of financial security then generally being imposed in Comparable Transactions
from tenants of comparable financial condition and credit history to the then existing financial condition and credit history of
Tenant (with appropriate adjustments to account for differences in the then-existing financial condition of Tenant and such other
tenants). The Concessions (A) shall be reflected in the effective rental rate (which effective rental rate shall take into
consideration the total dollar value of such Concessions as amortized on a straight-line basis over the applicable term of the
Comparable Transaction (in which case such Concessions evidenced in the effective rental rate shall not be granted to Tenant))
payable by Tenant, or (B) at Landlord’s election, all such Concessions shall be granted
to Tenant in kind. For purposes of this Lease, the term “Comparable
Buildings” shall mean the Building and those certain other comparable
institutionally-owned buildings of similar size, age, location, quality of appearance and services to the Building, and located in
the Fremont, California area.

 

    -9-

     

    

 

2.4.3.       Determination
of Option Rent. In the event Tenant timely and appropriately exercises its option to extend the Lease Term pursuant to Section
2.4.1, above, Landlord shall deliver written notice (the “Landlord Response Notice”)
to Tenant on or before the date which is thirty (30) days after Landlord’s receipt of the
Exercise Notice of Landlord’s good faith determination of the Option Rent. Within ten (10)
days following its receipt of the Landlord Response Notice, Tenant shall notify Landlord in writing whether it accepts or objects to the
Option Rent set forth in Landlord’s Response Notice. In the event that Tenant in good faith
objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall meet
and attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement on or before
the date that is ninety (90) days prior to the expiration of the initial Lease Term (the “Outside
Agreement Date”), then the Option Rent shall be determined by arbitration pursuant to
the terms of this Section 2.4.3. Each party shall make a separate determination of the Option Rent, within five (5) days following
the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Section 2.4.3.1 through
Section 2.4.3.4, below. The determination of the arbitrators shall be made by taking into consideration all Comparable Transactions
as calculated under the Constant Rate Equivalent Approach.

 

2.4.3.1       Landlord
and Tenant shall each appoint one arbitrator who shall by profession be a MAI appraiser, real estate broker, or real estate lawyer who
shall have been active over the five (5) year period ending on the date of such appointment in the appraising and/or leasing of institutionally-owned
properties in the vicinity of the Building. The determination of the arbitrators shall be limited solely to the issue area of whether
Landlord’s or Tenant’s submitted Option Rent
is the closest to the actual Option Rent as determined by the arbitrators, taking into account the requirements of Section 2.4.2
of this Lease. Each such arbitrator shall be appointed within fifteen (15) days after the Outside Agreement Date. Landlord and Tenant
may consult with their selected arbitrators prior to appointment and may select an arbitrator who is favorable to their respective positions
(including an arbitrator who has previously represented Landlord and/or Tenant, as applicable). The arbitrators so selected by Landlord
and Tenant shall be deemed “Advocate Arbitrators.”

 

    -10-

     

    

 

2.4.3.2       The
two Advocate Arbitrators so appointed shall be specifically required pursuant to an engagement letter within ten (10) days of the
appointment of the last appointed Advocate Arbitrator to agree upon and appoint a third arbitrator (“Neutral
Arbitrator”) who shall be qualified under the same criteria set forth hereinabove
for qualification of the two Advocate Arbitrators except that (i) neither the Landlord or Tenant or either parties’ Advocate
Arbitrator may, directly, or indirectly, consult with the Neutral Arbitrator prior or subsequent to his or her appearance, and (ii)
the Neutral Arbitrator cannot be someone who has represented Landlord and/or Tenant during the five (5) year period prior to such
appointment. The Neutral Arbitrator shall be retained via an engagement letter jointly prepared by Landlord’s
counsel and Tenant’s counsel.

 

2.4.3.3       Within
ten (10) days following the appointment of the Arbitrator, Landlord and Tenant shall enter into an arbitration agreement (the “Arbitration
Agreement”) which shall set forth the following:

 

2.4.3.3.1     Each
of Landlord’s and Tenant’s best and final and
binding determination of the Option Rent exchanged by the parties pursuant to Section 2.4.3, above;

 

2.4.3.3.2       An
agreement to be signed by the Neutral Arbitrator, the form of which agreement shall be attached as an exhibit to the Arbitration Agreement,
whereby the Neutral Arbitrator shall agree to undertake the arbitration and render a decision in accordance with the terms of this Lease,
as modified by the Arbitration Agreement, and shall require the Neutral Arbitrator to demonstrate to the reasonable satisfaction of the
parties that the Neutral Arbitrator has no conflicts of interest with either Landlord or Tenant;

 

2.4.3.3.3       Instructions
to be followed by the Neutral Arbitrator when conducting such arbitration;

 

2.4.3.3.4       That
Landlord and Tenant shall each have the right to submit to the Neutral Arbitrator (with a copy to the other party), on or before the date
that occurs fifteen (15) days following the appointment of the Neutral Arbitrator, an advocate statement (and any other information such
party deems relevant) prepared by or on behalf of Landlord or Tenant, as the case may be, in support of Landlord’s
or Tenant’s respective determination of Option Rent (the “Briefs”);

 

2.4.3.3.5       That
within five (5) business days following the exchange of Briefs, Landlord and Tenant shall each have the right to provide the Neutral Arbitrator
(with a copy to the other party) with a written rebuttal to the other party’s Brief (the
“First Rebuttals”); provided, however,
such First Rebuttals shall be limited to the facts and arguments raised in the other party’s
Brief and shall identify clearly which argument or fact of the other party’s Brief is intended
to be rebutted;

 

2.4.3.3.6       That
within five (5) business days following the parties’ receipt of each
other’s First Rebuttal, Landlord and Tenant, as applicable, shall each have the right
to provide the Neutral Arbitrator (with a copy to the other party) with a written rebuttal to the other party’s
First Rebuttal (the “Second Rebuttals”);
provided, however, such Second Rebuttals shall be limited to the facts and arguments raised in the other party’s
First Rebuttal and shall identify clearly which argument or fact of the other party’s
First Rebuttal is intended to be rebutted;

 

    -11-

     

    

 

2.4.3.3.7       The
date, time and location of the arbitration, which shall be mutually and reasonably agreed upon by Landlord and Tenant, taking into consideration
the schedules of the Neutral Arbitrator, the Advocate Arbitrators, Landlord and Tenant, and each party’s
applicable consultants, which date shall in any event be within forty-five (45) days following the appointment of the Neutral Arbitrator;

 

2.4.3.3.8       That
no discovery shall take place in connection with the arbitration, other than to verify the factual information that is presented by Landlord
or Tenant;

 

2.4.3.3.9       That
the Neutral Arbitrator shall not be allowed to undertake an independent investigation or consider any factual information other than presented
by Landlord or Tenant, except that the Neutral Arbitrator shall be permitted to visit the Project and the buildings containing the Comparable
Transactions;

 

2.4.3.3.10     The
specific persons that shall be allowed to attend the arbitration;

 

2.4.3.3.11     Tenant
shall have the right to present oral arguments to the Neutral Arbitrator at the arbitration for a period of time not to exceed three
(3) hours (“Tenant’s Initial Statement”);

 

2.4.3.3.12     Following
Tenant’s Initial Statement, Landlord shall have the right to present oral arguments to the
Neutral Arbitrator at the arbitration for a period of time not to exceed three (3) hours (“Landlord’s
Initial Statement”);

 

2.4.3.3.13     Following
Landlord’s Initial Statement, Tenant shall have up to two (2) additional hours to present
additional arguments and/or to rebut the arguments of Landlord (“Tenant’s
Rebuttal Statement”);

 

2.4.3.3.14     Following
Tenant’s Rebuttal Statement, Landlord shall have up to two (2) additional hours to present
additional arguments and/or to rebut the arguments of Tenant;

 

2.4.3.3.15     That,
not later than ten (10) days after the date of the arbitration, the Neutral Arbitrator shall render a decision (the “Ruling”)
indicating whether Landlord’s or Tenant’s submitted
Option Rent is closer to the Option Rent;

 

2.4.3.3.16     That
following notification of the Ruling, Landlord’s or Tenant’s
submitted Option Rent determination, whichever is selected by the Neutral Arbitrator as being closer to the Option Rent shall become
the then applicable Option Rent; and

 

    -12-

     

    

 

2.4.3.3.17       That
the decision of the Neutral Arbitrator shall be binding on Landlord and Tenant.

 

2.4.3.3.18       If
a date by which an event described in Section 2.4.3.3, above, is to occur falls on a weekend or a holiday, the date shall be deemed
to be the next business day

 

2.4.3.4       In
the event that the Option Rent shall not have been determined pursuant to the terms hereof prior to the commencement of the Option Term,
Tenant shall be required to pay the Option Rent, initially provided by Landlord to Tenant, and upon the final determination of the Option
Rent, the payments made by Tenant shall be reconciled with the actual amounts due, and the appropriate party shall make any corresponding
payment to the other party.

 

ARTICLE 3

RENT

 

3.1       Base
Rent; Base Rent Abatement. Commencing on the Lease Commencement Date, and continuing throughout the Lease Term, Tenant shall pay to
Landlord the Base Monthly Rent set forth in Section L of the Summary (the “Base
Monthly Rent”), in accordance with the terms of Section 3.3, below. Provided that
Tenant is not then in default of the Lease, then during the first nine (9) Lease Months (the “Base
Rent Abatement Period”), Tenant shall not be obligated to pay any Base Rent otherwise
attributable to the Premises during such Base Rent Abatement Period (the “Base Rent Abatement”).
Notwithstanding the foregoing, or anything to the contrary set forth in this Lease, Tenant shall be required to pay Tenant’s
share of “Project Expenses” (as defined in Section
3.2.2.3) attributable to the Premises and all other Additional Rent due pursuant to the terms of this Lease during the Rent Abatement
Period. Landlord and Tenant acknowledge and agree that the aggregate amount of the Rent Abatement equals Two Hundred Eighty-One Thousand
Nine Hundred Two and 86/100 Dollars ($281,902.86); provided, however, if Tenant exercises its expansion right pursuant to Section 1.5
above during the Base Rent Abatement Period, and the Base Monthly Rent is therefore increased pursuant to Section 1.5.4.1, the
aggregate amount of the Base Rent Abatement shall be adjusted accordingly. Tenant acknowledges and agrees that the foregoing Rent Abatement
has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rental and perform the
terms and conditions otherwise required under this Lease. If at any time during the Lease Term Tenant is in default under this Lease,
and Tenant shall fail to cure such default within any applicable notice and cure periods provided in this Lease, or if this Lease is terminated
for any reason other than Landlord’s breach of this Lease, then the dollar amount of the
unapplied portion of the Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit
to be applied to the Base Rent applicable at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base
Rent for the Premises in full. Notwithstanding the foregoing or anything to the contrary set forth in this Lease, at any time during the
Rent Abatement Period, Landlord shall have the right (but not the obligation), in its sole and absolute discretion, to pay Tenant the
total amount of the then unamortized portion of the Rent Abatement amount, in which event (i) Tenant’s
obligation to pay Base Monthly Rent shall automatically be reinstated for the remainder of the Rent Abatement Period covered by Landlord’s
lump sum payment, at the then-applicable amounts and otherwise in accordance with the terms of this Lease, and (ii) Tenant shall not be
entitled to any additional rent abatement under this Lease.

 

    -13-

     

    

 

3.2       Additional
Rent.

 

3.2.1.       General
Terms; Triple Net Lease. In addition to paying the Base Monthly Rent specified in Section 3.1, above, Tenant shall pay
Tenant’s Share of Operating Expenses and Real Property Taxes, as those terms are
defined in Section 3.2.2.2 and Section 3.2.2.4, below. Such payments by Tenant, together with any and all other
amounts payable by Tenant to Landlord pursuant to the terms of this Lease, are hereinafter collectively referred to as the “Additional
Rent”, and the Base Monthly Rent and the Additional Rent are herein collectively
referred to as “Rent”. All amounts
due under this Section 3.2 as Additional Rent shall be payable for the same periods and in the same manner as the Base
Monthly Rent (provided, however, notwithstanding anything set forth in this Lease to the contrary, Tenant acknowledges and agrees
that Additional Rent shall be payable by Tenant during the Base Rent Abatement Period). Without limitation on other obligations of
Tenant which survive the expiration of the Lease Term, the obligations of Tenant to pay the Additional Rent provided for in this Section
3.2 shall survive the expiration of the Lease Term. Landlord and Tenant acknowledge that, except as otherwise provided to the
contrary in this Lease, it is their intent and agreement that this Lease be a “TRIPLE
NET” lease and that as such, the provisions contained in this Lease are intended to
pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this Lease, the Building and the
Project, and Tenant’s operation therefrom. To the extent such costs and expenses
payable by Tenant cannot be charged directly to, and paid by, Tenant, such costs and expenses shall be paid by Landlord but
reimbursed by Tenant as Additional Rent.

 

3.2.2.       Definitions.

 

3.2.2.1       “Expense
Year” shall mean each calendar year in which any portion of the Lease Term falls, through
and including the calendar year in which the Lease Term expires, provided that Landlord, upon notice to Tenant, may change the Expense
Year from time to time to any other twelve (12) consecutive month period, and, in the event of any such change, Tenant’s
Share of Project Expenses shall be equitably adjusted for any Expense Year involved in such change.

 

    -14-

     

    

 

 

3.2.2.2       “Operating
Expenses” shall mean all expenses, costs and amounts of every kind and nature which
Landlord pays or accrues during any Expense Year because of or in connection with the ownership, management, maintenance, security,
repair, replacement, restoration or operation of the Project, or any portion thereof. Without limiting the generality of the
foregoing, Operating Expenses shall specifically include any and all of the following: (i) the cost of supplying all utilities, the
cost of operating, maintaining, repairing, and managing the utility, mechanical, sanitary, storm drainage and communication systems,
and the cost of supplies, tools, equipment and maintenance and service contracts in connection therewith; (ii) the cost of licenses,
certificates, permits and inspections, and the cost of contesting any governmental enactments which may affect Operating Expenses,
and the costs incurred in connection with any transportation system management program or similar program; (iii) the cost of all
insurance carried by Landlord in connection with the Project as reasonably determined by Landlord (including, without limitation,
commercial general liability insurance, physical damage insurance covering damage or other loss caused by fire, earthquake, flood
and other water damage, explosion, vandalism and malicious mischief, theft or other casualty, rental interruption insurance, and
such insurance as may be required by any lessor under any present or future ground or underlying lease of the Building or Project or
any holder of a mortgage, trust deed or other encumbrance now or hereafter in force against the Building or Project or any portion
thereof); (iv) the cost of landscaping, directional signage, decorative lighting, and relamping, and the cost of maintaining
fountains, sculptures, bridges and all supplies, tools, equipment and materials used in the operation, repair and maintenance of the
Project, or any portion thereof; (v) the cost of parking area repair and maintenance, including, without limitation, resurfacing,
repainting, restriping and cleaning; (vi) fees, charges and other costs, including management fees (or amounts in lieu thereof),
consulting fees (including, without limitation, any consulting fees incurred in connection with the procurement of insurance), legal
fees and accounting fees, of all contractors, engineers, consultants and all other persons engaged by Landlord or otherwise incurred
by or charged by Landlord in connection with the management, operation, administration, maintenance and repair of the Building and
the Project; (vii) payments under any equipment rental agreements or management agreements (including the cost of any actual or
charged management fee and the actual or charged rental of any management office space); (viii) wages, salaries and other
compensation and benefits, including taxes levied thereon, of all persons engaged in the operation, maintenance and security of the
Project; (ix) costs under any instrument pertaining to the sharing of costs by the Project; (x) operation, repair, maintenance and
replacement of all systems and equipment and components thereof of the Project; (xi) the cost of janitorial, alarm, security and
other services, replacement of wall and floor coverings, ceiling tiles and fixtures in the Common Areas, maintenance and replacement
of curbs and walkways, repair to roofs and re-roofing; (xii) amortization (including interest on the unamortized cost at an annual
interest rate reasonably determined by Landlord) of the cost of acquiring or the rental expense of personal property used in the
maintenance, operation and repair of the Project, or any portion thereof; (xiii) the cost of capital improvements or other costs
incurred in connection with the Project (A) which are intended to effect economies in the operation, cleaning or maintenance of the
Project, or any portion thereof, (B) that are required to comply with present conservation programs or that are first enacted or
applied after the date of this Lease, (C) which are replacements or modifications of nonstructural items located in the Common Areas
required to keep the Common Areas in good order or condition, (D) that are required under any governmental law or regulation, or (E)
which are repairs, replacements or modifications to the “Building Systems” (as
defined in Section 5.1, below); provided, however, that any capital expenditure shall be amortized (including interest on the
unamortized cost) over its useful life as Landlord shall reasonably determine in accordance with sound real estate management and
accounting principles; (xiv) costs, fees, charges or assessments imposed by, or resulting from any mandate imposed on Landlord by,
any federal, state or local government for fire and police protection, trash removal, community services, or other services which do
not constitute Real Estate Taxes, as that term is defined in Section 3.2.2.4, below; (xv) advertising, marketing and
promotional expenditures incurred in connection with the Project, including, without limitation, costs of signs in, on or about the
Project identifying or promoting the Project; (xvi) payments under any easement, license, operating agreement, declaration,
restrictive covenant, or instrument pertaining to the sharing of costs by the Project or related to the use or operation of the
Project; (xvii) all costs of applying and reporting for the Project or any part thereof to seek or maintain certification under the
U.S. EPA’s Energy Star® rating system, the U.S. Green Building
Council’s Leadership in Energy and Environmental Design (LEED) rating system or a
similar system or standard; and (xviii) the cost to repair damage caused by fire or other peril not covered by the insurance
specified in Section 9.2, below, up to a maximum amount in any Expense Year equal to two percent (2%) of the replacement cost
of the damaged improvements. Notwithstanding the foregoing, for purposes of this Lease, Operating Expenses shall not, however,
include:

 

(a)       costs,
including costs, including legal fees, space planners’ fees, advertising and promotional
expenses, and brokerage fees incurred in connection with the original construction or development, or original or future leasing of the
Project, and costs, including permit, license and inspection costs, incurred with respect to the installation of tenant improvements made
for new tenants initially occupying space in the Project after the Lease Commencement Date or incurred in renovating or otherwise improving,
decorating, painting or redecorating vacant space for tenants or other occupants of the Project (excluding, however, such costs relating
to any common areas of the Project or parking facilities);

 

(b)       except
as set forth in items (xii), (xiii), and (xiv) above, depreciation, interest and principal payments on mortgages and other debt costs,
if any, penalties and interest, costs of capital repairs and alterations, and costs of capital improvements and equipment and depreciation
on the Building or Project or any Common Areas;

 

(c)       costs
for which the Landlord is reimbursed by any tenant or occupant of the Project or by insurance by its carrier or any tenant’s
carrier or by anyone else, and electric power costs for which any tenant directly contracts with the local public service company;

 

    -15-

     

    

 

(d)       any
bad debt loss, rent loss, or reserves for bad debts or rent loss, or fines or penalties due to violation of law unless directly related
to Tenant’s use of the Building or the Project;

 

(e)       costs
associated with the operation of the business of the partnership or entity which constitutes the Landlord, as the same are distinguished
from the costs of operation of the Project (which shall specifically include, but not be limited to, accounting costs associated with
the operation of the Project). Costs associated with the operation of the business of the partnership or entity which constitutes the
Landlord include costs of partnership accounting and legal matters, costs of defending any lawsuits with any mortgagee (except as the
actions of the Tenant may be in issue), costs of selling, syndicating, financing, mortgaging or hypothecating any of the Landlord’s
interest in the Project, and costs incurred in connection with any disputes or negotiations between Landlord and its employees, between
Landlord and Project management, or between Landlord and other tenants or occupants;

 

(f)        the
wages and benefits of any employee who does not devote substantially all of his or her employed time to the Project unless such wages
and benefits are prorated to reflect time spent on operating and managing the Project vis-a-vis time spent on matters unrelated to operating
and managing the Project; provided, that in no event shall Operating Expenses for purposes of this Lease include wages and/or benefits
attributable to personnel above the level of Project manager;

 

(g)       amounts
paid as ground rental for the Project by the Landlord;

 

(h)       except
for a Project management fee to the extent allowed pursuant to item (vi), above, overhead and profit increment paid to the Landlord or
to subsidiaries or affiliates of the Landlord for services in the Project to the extent the same exceeds the costs of such services rendered
by qualified, first-class unaffiliated third parties on a competitive basis;

 

(i)        any
compensation paid to clerks, attendants or other persons in commercial concessions operated by the Landlord, provided that any compensation
paid to any concierge at the Project shall be includable as an Operating Expense;

 

(j)        all
items and services for which Tenant or any other tenant in the Project reimburses Landlord or which Landlord provides selectively to one
or more tenants (other than Tenant) without reimbursement;

 

(k)       any
costs expressly excluded from Operating Expenses elsewhere in this Lease;

 

(l)        rent
for any office space occupied by Project management personnel to the extent the size or rental rate of such office space exceeds the size
or fair market rental value of office space occupied by management personnel of the comparable buildings in the vicinity of the Building,
with adjustment where appropriate for the size of the applicable project;

 

(m)      costs
arising from the gross negligence or willful misconduct of Landlord or its agents, employees, vendors, contractors, or providers of materials
or services;

 

    -16-

     

    

 

(n)       costs
incurred to comply with laws relating to the removal of hazardous material (as defined under applicable law) which was in existence
in the Building or on the Project prior to the Lease Commencement Date, and was of such a nature that a federal, State or municipal
governmental authority, if it had then had knowledge of the presence of such hazardous material, in the state, and under the
conditions that it then existed in the Building or on the Project, would have then required the removal of such hazardous material
or other remedial or containment action with respect thereto; and costs incurred to remove, remedy, contain, or treat hazardous
material, which hazardous material is brought into the Building or onto the Project after the date hereof by Landlord or any other
tenant of the Project and is of such a nature, at that time, that a federal, State or municipal governmental authority, if it had
then had knowledge of the presence of such hazardous material, in the state, and under the conditions, that it then exists in the
Building or on the Project, would have then required the removal of such hazardous material or other remedial or containment action
with respect thereto;

 

(o)       costs
incurred to correct any defects in the original construction or in the renovation of the Base Building or Common Areas;

 

(p)       repairs
or replacements covered by warranties or guaranties, to the extent of the proceeds actually received by Landlord, provided that Landlord
has diligently attempted to obtain such proceeds;

 

(q)       costs
arising from Landlord’s charitable or political contributions;

 

(r)        costs
of installing the initial landscaping (if any) and any sculpture, paintings and objects of art for the Building and Common Area; and

 

(s)       advertising
and promotional expenses of Landlord.

 

If Landlord does not carry earthquake insurance for
the Building during the Base Year but subsequently obtains earthquake insurance for the Building during the Lease Term, then from and
after the date upon which Landlord obtains such earthquake insurance and continuing throughout the period during which Landlord maintains
such insurance, Operating Expenses for the Base Year shall be deemed to be increased by the amount of the premium Landlord would have
incurred had Landlord maintained such insurance for the same period of time during the Base Year as such insurance is maintained by Landlord
during such subsequent Expense Year. If Landlord is not furnishing any particular work or service (the cost of which, if performed by
Landlord, would be included in Operating Expenses) to a tenant who has undertaken to perform such work or service in lieu of the performance
thereof by Landlord, Operating Expenses shall be deemed to be increased by an amount equal to the additional Operating Expenses which
would reasonably have been incurred during such period by Landlord if it had at its own expense furnished such work or service to such
tenant. If the Project is not at least one hundred percent (100%) occupied during all or a portion of any Expense Year, Landlord may elect
to make an appropriate adjustment to the components of Operating Expenses for such year to determine the amount of Operating Expenses
that would have been incurred had the Project been one hundred percent (100%) occupied; and the amount so determined shall be deemed to
have been the amount of Operating Expenses for such year.

 

3.2.2.3       “Project
Expenses” shall mean Operating Expenses and Real Property Taxes.

 

    -17-

     

    

 

3.2.2.4       “Real
Property Taxes” shall mean all federal, state, county, or local governmental or
municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary
(including, without limitation, real estate taxes, general and special assessments, transit taxes, business taxes, leasehold taxes
or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required
to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and
equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which
shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal
authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof Real
Property Taxes shall include, without limitation: (i) any tax on the rent, right to rent or other income from the Project, or any
portion thereof, or as against the business of leasing the Project, or any portion thereof; (ii) any assessment, tax, fee, levy or
charge in addition to, or in substitution, partially or totally, of any assessment, tax, fee, levy or charge previously included
within the definition of real property tax, it being acknowledged by Tenant and Landlord that Proposition 13 was adopted by the
voters of the State of California in the June 1978 election (“Proposition
13”) and that assessments, taxes, fees, levies and charges may be imposed by
governmental agencies for such services as fire protection, street, sidewalk and road maintenance, refuse removal and for other
governmental services formerly provided without charge to property owners or occupants, and, in further recognition of the decrease
in the level and quality of governmental services and amenities as a result of Proposition 13, Real Property Taxes shall also
include any governmental or private assessments or the Project’s contribution towards a
governmental or private cost-sharing agreement for the purpose of augmenting or improving the quality of services and amenities
normally provided by governmental agencies; (iii) any increase in taxes resulting from a reassessment resulting from a change in
ownership of the Project, new construction, or any other cause; (iv) any assessment, tax, fee, levy, or charge allocable to or
measured by the area of the Premises, the tenant improvements in the Premises, or the Rent payable hereunder, including, without
limitation, any business or gross income tax or excise tax with respect to the receipt of such rent, or upon or with respect to the
possession, leasing, operating, management, maintenance, alteration, repair, use or occupancy by Tenant of the Premises, or any
portion thereof; (v) any assessment, tax, fee, levy or charge, upon this transaction or any document to which Tenant is a party,
creating or transferring an interest or an estate in the Premises; and (vi) all of the real estate taxes and assessments imposed
upon or with respect to the Building and all of the real estate taxes and assessments imposed on the land and improvements
comprising the Project, Any costs and expenses (including, without limitation, reasonable attorneys’ and
consultants’ fees) incurred in attempting to protest, reduce or minimize Real Property
Taxes shall be included in Real Property Taxes in the Expense Year such expenses are incurred. Tax refunds shall be credited against
Real Property Taxes and refunded to Tenant regardless of when received, based on the Expense Year to which the refund is applicable,
provided that in no event shall the amount to be refunded to Tenant for any such Expense Year exceed the total amount paid by Tenant
as Additional Rent under this Section 3.2 for such Expense Year. If Real Property Taxes for any period during the Lease Term
or any extension thereof are increased after payment thereof for any reason, including, without limitation, error or reassessment by
applicable governmental or municipal authorities, Tenant shall pay Landlord upon demand Tenant’s
Share of any such increased Real Property Taxes pursuant to the terms of this Lease. Notwithstanding anything to the contrary set
forth in this Lease, only Landlord may institute proceedings to reduce Real Property Taxes and the filing of any such proceeding by
Tenant without Landlord’s consent shall constitute an event of default by Tenant under
this Lease. Notwithstanding the foregoing, Landlord shall not be obligated to file any application or institute any proceeding
seeking a reduction in Real Property Taxes. Notwithstanding anything to the contrary contained in this Section 3.2.2.4, there
shall be excluded from Real Property Taxes (i) all excess profits taxes, franchise taxes, gift taxes, capital stock taxes,
inheritance and succession taxes, estate taxes, federal and state income taxes, and other taxes to the extent applicable to
Landlord’s general or net income (as opposed to rents, receipts or income attributable
to operations at the Project), (ii) any items included as Operating Expenses, (iii) any items paid by Tenant under Section
3.2.5 (taxes for which Tenant is directly responsible) of this Lease, and (iv) any tax penalties incurred as a result of
Landlord’s failure to make payment and/or file any tax or informational returns when
due. The parcel on which the Building is located may be a separate tax parcel that may also contain other buildings. In the event
that the Building and such other buildings and improvements are included in the same tax bill, Landlord shall have the right to
equitably allocate the Real Property Taxes between the Building and such other buildings and improvements, in Landlord’s
reasonable discretion, consistent with sound real estate management and accounting principles.

 

    -18-

     

    

 

3.2.2.5       “Tenant’s
Share” shall mean the percentage set forth in Section G of the
Summary.

 

3.2.3.       Intentionally
Omitted.

 

3.2.4.       Calculation
and Payment of Project Expenses.

 

3.2.4.1       Statement
of Estimated Project Expenses. Landlord shall give Tenant a yearly expense estimate statement (the “Estimate
Statement”) which shall set forth Landlord’s
reasonable estimate (the “Estimate”)
of the total amount of Project Expenses for the then-current Expense Year and the estimated Tenant’s
Share of Project Expenses (the “Estimated Project Expenses”),
The failure of Landlord to timely furnish the Estimate Statement for any Expense Year shall not preclude Landlord from enforcing its
rights to collect any Estimated Project Expenses under this Section 3.2, nor shall Landlord be prohibited from revising any Estimate
Statement theretofore delivered to the extent necessary. Thereafter, Tenant shall pay, with its next installment of Base Monthly Rent
due, a fraction of the Estimated Project Expenses for the then-current Expense Year (reduced by any amounts paid pursuant to the last
sentence of this Section 3.2.4.1). Such fraction shall have as its numerator the number of months which have elapsed in such current
Expense Year, including the month of such payment, and twelve (12) as its denominator. Until a new Estimate Statement is furnished (which
Landlord shall have the right to deliver to Tenant at any time), Tenant shall pay monthly, with the Base Monthly Rent installments, an
amount equal to one-twelfth (1/12) of the total Estimated Project Expenses set forth in the previous Estimate Statement delivered by Landlord
to Tenant.

 

3.2.4.2       Statement
of Actual Building Direct Expenses. In addition, Landlord shall endeavor to give to Tenant within one hundred twenty (120) days following
the end of each Expense Year, a statement (the “Statement”)
which shall state the Project Expenses incurred or accrued for such preceding Expense Year, and which shall indicate the amount of Tenant’s
Share of Project Expenses. Upon receipt of the Statement for each Expense Year commencing or ending during the Lease Term, Tenant shall
pay, with its next installment of Base Monthly Rent due, or within thirty (30) days, whichever is earlier, the full amount of Tenant’s
Share of Project Expenses for such Expense Year, less the amounts, if any, paid during such Expense Year as Estimated Project Expenses,
and if Tenant paid more as Estimated Project Expenses than the actual Tenant’s Share of Project
Expenses (an “Excess”), Tenant shall
receive a credit in the amount of such Excess against Rent next due under this Lease. Even though the Lease Term has expired and Tenant
has vacated the Premises, when the final determination is made of Tenant’s Share of Project
Expenses for the Expense Year in which this Lease terminates, if Tenant’s Share of Project
Expenses is greater than the amount of Estimated Project Expenses previously paid by Tenant to Landlord, Tenant shall, within thirty (30)
days after receipt of the Statement, pay to Landlord such amount, and if Tenant paid more as Estimated Project Expenses than the actual
Tenant’s Share of Project Expenses (again, an Excess), Landlord shall, within thirty (30)
days, deliver a check payable to Tenant in the amount of such Excess. The provisions of this Section 3.2.4.2 shall survive the
expiration or earlier termination of the Lease Term.

 

 

    -19-

     

    

 

3.2.5.       Taxes
and Other Charges for Which Tenant is Directly Responsible.

 

3.2.5.1        Tenant
shall be liable for and shall pay thirty (30) days before delinquency, any and all taxes levied against Tenant’s
equipment, furniture, fixtures and any other personal property (“FF&E”)
located in or about the Premises. If any such taxes on Tenant’s FF&E are levied
against Landlord or Landlord’s property, or if the assessed value of Landlord’s property is increased by the inclusion
therein of a value placed upon such FF&E, and if Landlord pays the taxes based upon such increased assessment, which Landlord
shall have the right to do regardless of the validity thereof but only under proper protest if requested by Tenant, Tenant shall
upon demand repay to Landlord the taxes so levied against Landlord or the proportion of such taxes resulting from such increase in
the assessment, as the case may be.

 

3.2.5.2         If
the tenant improvements in the Premises, whether installed and/or paid for by Landlord or Tenant and whether or not affixed to the real
property so as to become a part thereof, are assessed for real property tax purposes at a valuation higher than the valuation at which
tenant improvements conforming to Landlord’s “building standard” in other space in the Building are assessed, then the
Real Property Taxes levied against Landlord or the property by reason of such excess assessed valuation shall be deemed to be taxes levied
against personal property of Tenant and shall be governed by the provisions of Section 3.2.5.1, above.

 

3.2.5.3         Notwithstanding
any contrary provision herein, Tenant shall pay prior to delinquency any (i) rent tax or sales tax, gross receipts tax, service tax,
transfer tax or value added tax, business tax or any other applicable tax on the rent or services herein or otherwise respecting this
Lease, (ii) taxes assessed upon or with respect to the possession, leasing, operation, management, maintenance, alteration, repair,
use or occupancy by Tenant of the Premises or any portion of the Project, including the parking facility for the Project; or (iii) taxes
assessed upon this transaction or any document to which Tenant is a party creating or transferring an interest or an estate in the Premises.

 

3.2.5.4         Landlord’s
Books and Records. Following Tenant’s receipt of the Statement, Tenant shall have the right, upon prior written notice to
Landlord (“Audit Notice”), to commence and complete an audit of Landlord’s books and records concerning the
Operating Expenses for the Landlord’s fiscal year that is the subject of such Statement (the “Records”),
within ninety (90) days following the delivery of such Statement (the “Review Period”). Following delivery of an
Audit Notice, and provided Tenant is not then in default under this Lease, Tenant shall have the right, at Tenant’s sole cost,
during Landlord’s regular business hours and on reasonable prior notice to Landlord, to audit the Records at Landlord’s
principal business office (or at any other location in northern California designated by Landlord). Such audit shall occur within
thirty (30) days following the delivery of the Audit Notice. Tenant’s audit of the Records pursuant to this Section 3.2.5.4
shall be conducted only by a reputable independent nationally or regionally recognized certified public accounting firm, subject to
Landlord’s reasonable approval, which accounting firm: (i) shall have previous experience in auditing financial operating
records of landlords of office buildings; (ii) shall not already be providing accounting and/or lease administration services
to Tenant and shall not have provided accounting and/or lease administration services to Tenant in the past three (3) years;
(iii) shall not be retained by Tenant on a contingency fee basis (i.e., Tenant must be billed based on the actual time and
materials that are incurred by the accounting firm in the performance of the audit), and a copy of the executed audit agreement
between Tenant and auditor shall be provided to Landlord prior to the commencement of the audit; and (iv) at Landlord’s
option, both Tenant and auditor shall be required to execute a commercially reasonable confidentially agreement prepared by
Landlord. Any audit report prepared by Tenant’s auditors shall be delivered concurrently to Landlord and Tenant within the
Review Period. If, after such audit of the Records, Tenant disputes the amount of Operating Expenses for the year under audit,
Landlord and Tenant shall meet and attempt in good faith to resolve the dispute. If the parties are unable to resolve the dispute
within sixty (60) days after completion of Tenant’s audit, then, at Tenant’s request, a certified public accounting firm
selected by Landlord, and reasonably approved by Tenant, shall, at Tenant’s cost, conduct an audit of the relevant Operating
Expenses (the “Neutral Audit”). Tenant shall pay all costs and expenses of the Neutral Audit unless the final
determination in such Neutral Audit is that Landlord overstated Operating Expenses in the Statement for the year being audited by
more than five percent (5%), in which case Landlord shall pay the actual and reasonable costs and expenses of the Neutral Audit, in
an amount not to exceed Five Thousand and 00/100 Dollars ($5,000.00). In any event, Landlord will promptly reimburse Tenant or
provide a credit for any overstatement of Operating Expenses, and Tenant shall promptly pay to Landlord any understatement of
Operating Expenses. To the extent Landlord and Tenant fail to otherwise reach mutual agreement regarding Operating Expenses, the
foregoing audit and Neutral Audit procedures shall be the sole methods to be used by Tenant to dispute the amount of any Operating
Expenses payable by Tenant pursuant to the terms of this Lease.

 

    -20-

     

    

 

3.3           Payment
of Rent. Concurrently with the execution of this Lease by Tenant, Tenant shall pay to Landlord the amount set forth in Section M
of the Summary as prepayment toward the first installment of Rent. All Rent required to be paid under this Lease in monthly installments
shall be paid to Landlord in advance on the first day of each calendar month during the Lease Term. All Rent shall be paid in lawful money
of the United States, without any abatement, deduction or offset whatsoever (except as specifically provided herein), and without any
prior notice or demand therefor. Rent shall be paid to Landlord at the address set forth in Section P of the Summary, or,
at Landlord’s option, to such other party or at such other place as Landlord may designate from time to time in writing, by notice
to Tenant in accordance with the provisions of Section 21.5 of this Lease. If any Rent payment date (including the Lease Commencement
Date) falls on a day of the month other than the first day of such month, or if any payment of Rent is for a period which is shorter than
one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end
of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other
payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on
the same basis.

 

3.4           Electronic
Payment. Landlord shall have the right, upon at least thirty (30) days’ prior written notice to Tenant (the “Electronic
Payment Notice”), to require Tenant to make payments of Rent due pursuant to the terms of this Lease by means of a federal funds
wire transfer or such other method of electronic funds transfer as may be required by Landlord in its sole and absolute discretion (the
 “Electronic Payment”). The Electronic Payment Notice shall set forth the bank ABA number, account number and designation
of the account to which such Electronic Payment shall be made. Tenant shall promptly notify Landlord in writing of any additional information
required to establish and maintain the Electronic Payment from Tenant’s bank or financial institution. Landlord shall have the right,
upon at least ten (10) days’ prior written notice to Tenant, to change the name of the depository for receipt of any Electronic
Payment and to discontinue payment of any sum due from Tenant to Landlord under this Lease by Electronic Payment.

 

3.5           Late
Charge, Interest and Quarterly Payments.

 

3.5.1.            Late
Charge. Tenant acknowledges that its failure to pay when due any installment of Rent, or any other sum of money required to be
paid by Tenant under this Lease, will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the
exact amount of such costs being extremely difficult and impractical to determine. If any installment of Rent is not received by
Landlord from Tenant upon the date such payment is due, then Tenant shall pay to Landlord a late charge equal to five percent (5%)
of the overdue amount plus any attorney’s fees incurred by Landlord by reason of Tenant’s failure to pay Rent and/or
other charges when due hereunder. In no event shall the terms of this Section 3.5.1 be deemed to grant to Tenant a grace
period or extension of time within which to pay any installment of Rent when due hereunder, or prevent Landlord from exercising any
right or remedy available to Landlord upon Tenant’s failure to pay any installment of Rent due under this Lease in a timely
fashion. Notwithstanding the foregoing, Tenant shall not be obligated to pay a late charge pursuant to this Section 3.5.1
for the first (1st) late payment of Rent (whether such late payment is with respect to Base Monthly Rent or Additional
Rent) in any calendar year, unless Tenant fails to make such payment within five (5) days after Tenant’s receipt of
notice from Landlord regarding such late payment.

 

    -21-

     

    

 

3.5.2.            Interest.
In addition to the late charge set forth above, if any installment of Rent remains delinquent for a period in excess of ten (10) days
after the date when due, then such amount shall bear interest at a rate equal to the lesser of (i) ten percent (10%), or (ii) the
maximum rate permitted by law in the state in which the Project is located (the “Agreed Interest Rate”) from the date
when due until paid.

 

3.5.3.            Quarterly
Payments. If during any twelve (12) month period Tenant shall be more than five (5) days delinquent in the payment of any installment
of Rent on three (3) or more occasions, then, notwithstanding anything herein to the contrary, Landlord may, by written notice to
Tenant, require Tenant to pay all Rent due from Tenant to Landlord hereunder in advance in quarterly installments. Such right shall be
in addition to and not in lieu of any other right or remedy available to Landlord hereunder or at law on account of Tenant’s default
hereunder.

 

3.6           Security
Deposit. Concurrently with the execution of this Lease by Tenant, and subject to the terms and conditions of this Lease (including,
without limitation, Section 1.5.6 above), Tenant shall deposit with Landlord a security deposit in the amount set forth in
Section N of the Summary as security for the faithful performance by Tenant of its obligations under this Lease, and not as
prepayment of rent (the “Security Deposit”). Concurrently with Tenant’s first request to Landlord for disbursement
of the Tenant Improvement Allowance, Tenant shall deposit with Landlord an amount equal to Seventy-Seven Thousand Six and 80/100 Dollars
($77,006.80) (the “Additional Security Deposit”) to be held by Landlord as part of the Security Deposit; such that
the total Security Deposit held by Landlord shall be the sum of the amount set forth in Section N of the Summary (the “Initial
Security Deposit”) and the Additional Security Deposit, and, if applicable, the Expansion Space Security Deposit). Notwithstanding
the foregoing or any provision to the contrary set forth in this Lease, the parties hereby agree that the Initial Security Deposit and
the Additional Security Deposit (if any) and the Expansion Space Security Deposit (if any) shall collectively be treated as a single “Security
Deposit” for all purposes under the Lease. If Tenant defaults with respect to any provisions of this Lease, including, but not limited
to, the provisions relating to the payment of Rent, the removal of property and the repair of resultant damage, Landlord may (but shall
not be required to), without notice to Tenant, apply all or any part of the Security Deposit for the payment of any Rent or any other
sum in default and Tenant shall, upon demand therefor, restore the Security Deposit to its original amount. Any unapplied portion of the
Security Deposit shall be returned to Tenant, or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder,
within sixty (60) days following the expiration of the Lease Term. Tenant hereby waives the provisions of California Civil Code Section 1950.7
and all other provisions of law, now or hereafter in effect, which (i) establish the time frame by which a landlord must refund a
security deposit under a lease, and/or (ii) provide that a landlord may claim from a security deposit only those sums reasonably
necessary to remedy defaults in the payment of rent, to repair damage caused by a tenant or to clean the premises, it being agreed that
Landlord may, in addition, claim those sums specified in this Section 3.6 above and/or those sums reasonably necessary to
compensate Landlord for any loss or damage caused by Tenant’s default of this Lease, including, but not limited to, all damages
or rent due upon termination of this Lease pursuant to California Civil Code Section 1951.2. Landlord shall not be deemed a trustee
of the Security Deposit, may use the Security Deposit in business, and shall not be required to segregate it from its general accounts.
Tenant shall not be entitled to any interest on the Security Deposit. If Landlord transfers its interest in the Premises, the Building
or the Project during the Lease Term, Landlord shall transfer the Security Deposit to any transferee of Landlord’s interest, in
which event Landlord will be released from all liability for the return of the Security Deposit.

 

    -22-

     

    

 

ARTICLE 4

USE OF PREMISES

 

4.1           Permitted
Uses. Tenant shall use the Premises solely for the Permitted Use specified in Section O of the Summary, and Tenant shall
not use or permit the Premises, the Building or the Project to be used for any other purpose or purposes whatsoever without the prior
written consent of Landlord, which consent may be withheld in Landlord’s sole and absolute discretion. Notwithstanding anything
to the contrary set forth in the Lease, and as more particularly set forth in this Lease. Tenant shall be responsible for operating and
maintaining the Premises pursuant to, and Tenant’s Permitted Uses shall not violate, any applicable Laws, and the Permitted Uses
shall be subject to the terms and conditions set forth in this Lease.

 

4.2           Prohibited
Uses. Tenant further covenants and agrees that Tenant shall not use, or suffer or permit any person(s) to use, the Premises in
any manner which (i)will cause structural injury or material damage to the Building; or (ii) is contrary to the provisions of any
rules and regulations as promulgated by Landlord from time to time, or is in violation of the laws of the United States of America,
the State of California, or the ordinances, regulations or requirements of the local municipal or county governing body or other lawful
authorities having jurisdiction over the Project (collectively, “Laws”), including, without limitation, any such Laws
relating to “Hazardous Materials,” as that term is defined in Section 7.1.6, below. Tenant shall not operate any
equipment within the Premises which will (A) materially damage the Building or the Common Areas; (B) overload existing electrical
systems or other mechanical equipment servicing the Building and/or the Premises; (C) impair the efficient operation of the sprinkler
system or the heating, ventilating or air conditioning (“HVAC”) system and equipment servicing the Building and/or
the Premises; or (D) damage, overload or corrode the sanitary sewer system for the Project and/or the Building. Tenant shall not
attach, hang or suspend anything from the ceiling, roof, walls or columns of the Building, set any load on the floors of the Premises
or Building in excess of the load limits for which such items are designed, or operate hard wheel forklifts within the Premises. Any dust,
fumes, or waste products generated by Tenant’s use of the Premises shall be contained and disposed of, as necessary, so that the
same do not (1) create an unreasonable fire or health hazard at the Project; (2) damage the Premises, the Building or the Project;
or (3) result in the violation of any Law. Except as approved in advance in writing by Landlord, Tenant shall not alter the exterior
of the Building in any way (except as approved by Landlord pursuant to Section 4.4 below), or install any equipment or antenna
on, or make any penetrations of, the exterior or roof of the Building. Tenant shall not commit or permit any waste in or about the Premises,
the Building or the Project, and Tenant shall keep the Premises in a neat, clean, attractive and orderly condition, free of any nuisances.
Tenant shall not do or permit anything to be done in or about the Premises which will in any way damage the reputation of the Project
or obstruct or interfere with the rights of other tenants or occupants of the Building, or injure or annoy them, or use or allow the Premises
to be used for any improper, unlawful or objectionable purpose. Tenant shall not conduct on any portion of the Premises or the Project
any sale of any kind, including any public or private auction, fire sale, going-out-of-business sale, distress sale or other liquidation
sale.

 

    -23-

     

    

 

4.3           Compliance
with Law. Tenant shall not do anything or suffer anything to be done in or about the Premises or the Project which will in any
way conflict with (i) any Laws now in force or which may hereafter be enacted or promulgated, or (ii) any recorded
covenants, conditions and restrictions, private agreements, reciprocal easement agreements, or other recorded instruments affecting
the use of the Premises, the Building or the Project (individually and collectively, “Private Restrictions”). At
its sole cost and expense, Tenant shall promptly observe and comply with all Laws and Private Restrictions. Should any standard or
regulation now or hereafter be imposed on Tenant by a state, federal or local governmental body charged with the establishment,
regulation and enforcement of occupational, health or safety standards for employers, employees, or tenants, then Tenant agrees, at
its sole cost and expense, to promptly comply with such standards or regulations and to cooperate with Landlord, including, without
limitation, by taking such actions as Landlord may reasonably require, in Landlord’s efforts to comply with such standards or
regulations. Tenant shall, at Tenant’s expense, make any alterations, improvements, additions or changes to the Premises as
are required to comply with any and all Laws, including (i) any alterations, improvements, additions or changes to any restroom
located in Tenant’s Premises; (ii) resulting from Tenant’s particular use or Landlord-approved change of use of the
Premises, (iii) resulting from Tenant’s application for any permit or government approval; or (iv) resulting from
Tenant’s construction or installation of any Alterations (as defined in Section 5.1, below) in the Premises. Any
other alterations, improvements, additions, or changes required to comply with any Laws which are not the responsibility of Tenant
pursuant to the immediately preceding sentence shall be made by Landlord, and the cost thereof shall be prorated and paid as
Operating Expenses. The judgment of any court of competent jurisdiction or the admission of Tenant in any judicial action,
regardless of whether Landlord is a party thereto, that Tenant has violated any of said governmental measures, shall be conclusive
of that fact as between Landlord and Tenant. Tenant shall promptly pay all fines, penalties and damages that may arise out of or be
imposed because of its failure to comply with the provisions of this Section 4.3. Tenant shall not use the Premises, the
Building or the Project in any manner which will cause a cancellation of any insurance policy carried by either Landlord or Tenant
pursuant to this Lease. Tenant shall not keep, use or sell, or permit to be kept, used, or sold in or about the Premises any article
which may be prohibited by a standard form of fire insurance policy. Tenant shall comply with all reasonable requirements of any
insurance company, insurance underwriter, or Board of Fire Underwriters which are necessary to maintain the insurance coverage
carried by either Landlord or Tenant pursuant to this Lease; provided, however, that if any such requirement involves the
construction of any capital improvement to the Premises, then Tenant shall only be required to comply with or pay the cost of
complying with such requirement to the extent such compliance is necessitated by Tenant’s particular use of the Premises or
any alteration or improvement made to the Premises by or on behalf of Tenant. For purposes of Section 1938 of the California
Civil Code, Landlord hereby discloses to Tenant, and Tenant hereby acknowledges, that the Premises, the Building and the Project
have not undergone inspection by a Certified Access Specialist (CASp).

 

4.4           Outside
Areas. No materials, supplies, tanks or containers, equipment, finished products or semi-finished products, raw materials, inoperable
vehicles or articles of any nature shall be stored upon or permitted to remain outside of the Premises, except in fully fenced and screened
areas outside the Building which have been designed for such purpose and approved in writing by Landlord for such use by Tenant, which
approval may be withheld in Landlord’s sole and absolute discretion.

 

4.5           Rules and
Regulations. Landlord may from time to time promulgate reasonable and nondiscriminatory rules and regulations (“Rules and
Regulations”) applicable to all occupants of the Project for the care and orderly management of the Project and the safety of
its tenants and invitees. Such Rules and Regulations shall be binding upon Tenant upon delivery of a copy thereof to Tenant, and
Tenant hereby agrees to abide by such Rules and Regulations. Landlord agrees that its rules and regulations shall not be modified
or enforced in a manner which will unreasonably interfere with the normal and customary conduct of Tenant’s business. If there is
a conflict between the Rules and Regulations and any of the provisions of this Lease, the provisions of this Lease shall prevail.
Landlord shall not be responsible for the violation by any other tenant of the Project of any such Rules and Regulations.

 

    -24-

     

    

 

ARTICLE 5

ADDITIONS AND ALTERATIONS

 

5.1           Landlord’s
Consent to Alterations. Tenant shall not make or suffer to be made any improvements, alterations, additions, changes or repairs
(pursuant to Article 6 or otherwise) to the Premises or any mechanical, pluming or HVAC facilities or systems pertaining
to the Premises (collectively, “Alterations”) without Landlord’s prior written approval of same, which
approval shall be requested by Tenant not less than fifteen (15) business days prior to the commencement thereof, and which approval
shall not be unreasonably withheld by Landlord unless such Alterations affects any area(s) outside of the Premises, the
exterior of the Building, or any structural portion of the Building, in which case Landlord may withhold its consent in its sole and
absolute discretion. Notwithstanding the foregoing, Landlord’s prior consent shall not be required for any Alteration that:
(a) is solely cosmetic in nature (such as painting); (b) does not affect the roof or any area outside of the Premises, or
require work inside the walls or above the ceiling of the Premises; and (c) does not affect (1) any structural portion of
the Building, or (2) the plumbing, sewer, drainage, electrical, fire protection, life safety and security systems and
equipment, existing heating, ventilation and air-conditioning systems, and all other mechanical, electrical and communications
systems and equipment (collectively, the “Building Systems”) (herein referred to as “Cosmetic
Alterations”); provided that Tenant shall provide Landlord with prior written notice of any Cosmetic Alteration at least
fifteen (15) business days’ prior to Tenant’s commencement of same. The construction of any initial improvements in the
Premises shall be governed by the terms of the Work Letter and not the terms of this Article 5.

 

5.2           Manner
of Construction. Landlord may impose, as a condition of its consent to any and all Alterations or repairs of the Premises or about
the Premises, such requirements as Landlord in its reasonable discretion may deem desirable, including, but not limited to, the requirement
that Tenant utilize for such purposes only contractors reasonably approved by Landlord, and the requirement that upon Landlord’s
request made at the time such consent is granted, Tenant shall, at Tenant’s expense, remove such Alterations upon the expiration
or any early termination of the Lease Term and return the affected portion of the Premises to their condition existing prior to the installation
of such Alterations. Landlord may, as a condition to its consent to any Alterations, require that any architect retained by Tenant in
connection with such Alterations be certified as a Certified Access Specialist (CASp), and that following the completion of such Alterations,
such architect shall certify the Premises as meeting all applicable construction-related accessibility standards pursuant to California
Civil Code Section 55.53. Tenant shall construct such Alterations and perform such repairs in a good and workmanlike manner, in conformance
with any and all Laws and pursuant to a valid building permit, all in conformance with Landlord’s construction rules and regulations;
provided, however, that prior to commencing to construct any Alteration, Tenant shall meet with Landlord to discuss Landlord’s design
parameters and code compliance issues. In the event Tenant performs any Alterations in the Premises which require or give rise to governmentally
required changes to the Base Building, as that term is defined below, then Landlord shall, at Tenant’s expense, make such changes
to the Base Building. The “Base Building” shall include the structural portions of the Building, and the public restrooms
located in the Common Areas, exit stairwells and the systems and equipment located in the internal core of the Building on the floor or
floors on which the Premises are located. In performing the work of any such Alterations, Tenant shall have the work performed in such
manner so as not to obstruct access to the Building or Project or any portion thereof, by any other tenant of the Building or Project,
as applicable, and so as not to obstruct the business of Landlord or other tenants in the Building or Project. Tenant shall not use (and
upon notice from Landlord shall cease using) contractors, services, workmen, labor, materials or equipment that, in Landlord’s reasonable
judgment, would disturb labor harmony with the workforce or trades engaged in performing other work, labor or services in or about the
Building or the Common Areas. Upon completion of any Alterations, Tenant agrees to cause a Notice of Completion to be recorded in the
office of the recorder of the County in which the Premises are situated in accordance with California Civil Code Section 3093 or
any successor statute, and Tenant shall deliver to the Project construction manager a reproducible copy of the “as built”
drawings of the Alterations, to the extent applicable, as well as all permits, approvals and other documents issued by any governmental
agency in connection with the Alterations.

 

    -25-

     

    

 

5.3           Payment
for Alterations. If payment is made directly to contractors, Tenant shall (i) comply with Landlord’s requirements for final
lien releases and waivers in connection with Tenant’s payment for work to contractors, and (ii) sign Landlord’s standard
contractor’s rules and regulations. If Tenant orders any work directly from Landlord, Tenant shall pay to Landlord an amount
equal to Landlord’s standard coordination fee, and all other costs incurred by Landlord in connection with the construction of the
Alterations. If Tenant docs not order any work directly from Landlord, Tenant shall reimburse Landlord for Landlord’s reasonable,
actual, out-of-pocket costs and expenses actually incurred in connection with Landlord’s review of such work.

 

5.4           Construction
Insurance. In the event that any Alterations are made pursuant to this Article 5, prior to the commencement of such Alterations,
Tenant shall provide Landlord with certificates of insurance evidencing compliance with the requirements of Section 9.1.3
of this Lease, it being understood and agreed that all of such Alterations shall be insured by Tenant pursuant to Section 9.1.3
of this Lease immediately upon completion thereof. In addition, Landlord may, in its discretion, require Tenant to obtain a lien and completion
bond or some alternate form of security satisfactory to Landlord in an amount sufficient to ensure the lien-free completion of such Alterations
and naming Landlord as a co-obligee.

 

5.5           Restoration.
All permanently-affixed Alterations, improvements, fixtures, equipment and/or appurtenances which may be installed or placed in or about
the Premises from time to time shall be at the sole cost of Tenant and shall become the property of Landlord upon the expiration or earlier
termination of this Lease; provided, however, Landlord may, by written notice to Tenant prior to the expiration or earlier termination
of the Lease Term, require Tenant, at Tenant’s expense, to remove any permanently-fixed Alterations or improvements and to repair
any damage to the Premises and Building caused by such removal and return any affected portion of the Premises to the condition existing
prior to the installation of such Alterations or improvements or, at Landlord’s election, to a building standard tenant improved
condition as reasonably determined by Landlord. Notwithstanding the foregoing, if, in connection with Tenant’s notice to Landlord
with respect to any such Alterations or improvements, (x) Tenant requests Landlord’s decision with regard to the removal of
such Alterations or improvements, and (y) Landlord thereafter agrees in writing to waive the removal requirement with regard to such
Alterations or improvements, then Tenant shall not be required to so remove such Alterations or improvements; provided, further, however,
that if Tenant requests such a determination from Landlord, and Landlord fails to address the removal requirement with regard to such
Alterations or improvements concurrently with Landlord’s approval thereof, then Landlord shall be deemed to have agreed to waive
the removal requirement with regard to such Alterations or improvements. If Tenant fails to complete the removal of any Alterations or
improvements as set forth in this Section 5.5, then Rent shall continue to accrue under this Lease in accordance with Article 16,
below, after the end of the Lease Term until such work shall be completed, and Landlord shall have the right, but not the obligation,
to perform such work and to charge the cost thereof to Tenant. Tenant shall protect, defend, indemnify and hold Landlord harmless from
any liability, cost, obligation, expense or claim of lien, including but not limited to, court costs and reasonable attorneys’ fees,
in any manner relating to the installation, placement, removal or financing of any such Alterations, improvements, fixtures and/or equipment
in, on or about the Premises, which obligations of Tenant shall survive the expiration or earlier termination of this Lease.

 

    -26-

     

    

 

5.6           Removal
of Communications and Computer Lines. Tenant may install, maintain, replace, remove or use any electrical, communications or
computer wires and cables (collectively, the “Lines”) at the Project in or serving solely the Premises, provided
that (i) Tenant shall obtain Landlord’s prior written consent, use an experienced and qualified contractor approved in
writing by Landlord, and comply with all of the other provisions of Articles 5 and 6 of this Lease, (ii) an acceptable
number of spare Lines and space for additional Lines shall be maintained for existing and future occupants of the Building, as
determined in Landlord’s reasonable opinion, (iii) all Lines (including riser cables) shall be appropriately insulated to
prevent excessive electromagnetic fields or radiation, and shall be surrounded by a protective conduit reasonably acceptable to
Landlord, (iv) any new or existing Lines servicing the Premises shall comply with all applicable Laws, (v) as a condition
to permitting the installation of new Lines, Landlord may require that Tenant remove existing Lines located in or serving the
Premises, and repair any damage in connection with such removal, and (vi) Tenant shall pay all costs in connection therewith.
Landlord reserves the right to require that Tenant remove any Lines located in or serving the Premises which are installed by or for
Tenant in violation of these provisions, or which are at any time in violation of any Laws or represent a dangerous or potentially
dangerous condition. Landlord further reserves the right to require that Tenant remove any and all Lines located in or serving the
Premises upon the expiration of the Lease Term or upon any earlier termination of this Lease. The provisions of this Section 5.6
shall survive the expiration or sooner termination of this Lease.

 

5.7           Covenant
Against Liens. Tenant shall keep the Project and Premises free from any liens or encumbrances arising out of work performed, materials
furnished, or obligations incurred by or on behalf of Tenant or any employee, contractor, agent or invitee of Tenant (collectively, “Tenant’s
Agents”), and shall protect, defend, indemnify and hold Landlord harmless from and against any claims, liabilities, judgments
or costs (including, without limitation, reasonable attorneys’ fees and costs) arising out of same or in connection therewith. Tenant
shall give Landlord notice at least twenty (20) days prior to the commencement of any work on the Premises which may give rise to a lien
on the Premises, Building or Project (or such additional time as may be necessary under applicable laws) to afford Landlord the opportunity
of posting and recording appropriate notices of non-responsibility. Tenant shall remove any such lien or encumbrance by bond or otherwise
within ten (10) days after notice by Landlord, and if Tenant shall fail to do so, Landlord may pay the amount necessary to remove
such lien or encumbrance, without being responsible for investigating the validity thereof. The amount so paid shall be deemed Additional
Rent under this Lease payable upon demand, without limitation as to other remedies available to Landlord under this Lease. Nothing contained
in this Lease shall authorize Tenant to do any act which shall subject Landlord’s title to the Building or Premises to any liens
or encumbrances whether claimed by operation of law or express or implied contract. Any claim to a lien or encumbrance upon the Building
or Premises arising in connection with any such work or respecting the Premises not performed by or at the request of Landlord shall be
null and void, or at Landlord’s option shall attach only against Tenant’s interest in the Premises and shall in all respects
be subordinate to Landlord’s title to the Project, Building and Premises.

 

ARTICLE 6

REPAIR AND MAINTENANCE

 

6.1           Tenant’s
Obligations. Tenant shall, at Tenant’s sole cost and expense, keep and maintain in good order, condition, and repair at
all times during the Lease Term the Premises and every part thereof, including, but not limited to: (i) all plumbing and sewage
facilities (including all sinks, toilets, faucets and drains) within or exclusively serving the Premises; (ii) all ducts,
pipes, vents and other parts of the HVAC system within or exclusively serving the Premises; (iii) all improvements, fixtures,
equipment, interior walls and window coverings, floors and floor coverings, and ceilings within the Premises; (iii) all
windows, doors, entrances, plate glass, showcases and skylights within the Premises (including the replacement of any damaged or
broken glass); (iv) all electrical facilities and equipment (including all electrical wiring and conduits, fans, vents, exhaust
equipment and systems) and all other equipment of any type within or exclusively serving the Premises; (v) any automatic fire
extinguisher equipment located in the Premises; and (vi) any restroom(s) located within the Premises. In addition, Tenant
shall, at Tenant’s own expense, but under the supervision and subject to the prior approval of Landlord, and within any
reasonable period of time specified by Landlord, promptly and adequately repair all damage to the Premises and replace or repair all
damaged, broken, or worn fixtures and appurtenances, except for damage caused by ordinary wear and tear or beyond the reasonable
control of Tenant. In the event that Tenant fails to conduct any maintenance, or to make any repairs required pursuant to this
Section 6.1, Landlord may, after written notice to Tenant and Tenant’s failure to cure such failure within three
(3) days thereafter, make such repairs and replacements on Tenant’s behalf, and Tenant shall pay Landlord, within fifteen
(15) days following receipt of an invoice, the cost thereof, including a percentage of the cost thereof (to be uniformly established
for the Building and/or the Project) sufficient to reimburse Landlord for all overhead, general conditions, fees and other costs or
expenses arising from Landlord’s involvement with such repairs and replacements. All repairs and replacements required of
Tenant pursuant to this Section 6.1 shall be promptly made with new materials of like kind and quality.

 

    -27-

     

    

 

6.2           Landlord’s
Obligations. Except as set forth in Section 6.1, above, and subject to the provisions of Articles 11 and 12
of this Lease, Landlord shall repair and maintain in good condition and repair the Base Building and the Common Areas, except to the
extent that such repairs are required due to the negligence or willful misconduct of Tenant; provided, however, that if such repairs
are due to the negligence or willful misconduct of Tenant, Landlord shall nevertheless make such repairs at Tenant’s expense,
or, if covered by Landlord’s insurance, Tenant shall only be obligated to pay any deductible in connection therewith. Landlord
may, but shall not be required to, enter the Premises at all reasonable times upon prior reasonable notice to Tenant (which notice,
notwithstanding anything to the contrary contained in Section 21.5 of this Lease, may be oral, and which notice shall
not be required in the case of an emergency) to make repairs, alterations, improvements or additions to the Premises, the Project or
any equipment located in the Project as Landlord shall desire or deem necessary, or as Landlord may be required to do by
governmental or quasi-governmental authority or court order or decree; provided, however, except for (i) emergencies,
(ii) repairs, alterations, improvements or additions required by governmental or quasi-governmental authorities or court order
or decree, and (iii) repairs which are the obligation of Tenant hereunder, any such entry into the Premises by Landlord shall
be performed in a manner so as not to materially interfere with Tenant’s use of, or access to, the Premises; provided further
that, with respect to items (ii) and (iii) above, Landlord shall use commercially reasonable efforts to not materially
interfere with Tenant’s use of, or access to, the Premises. Tenant hereby waives any and all rights under and benefits of
subsection 1 of Section 1932 and Sections 1941 and 1942 of the California Civil Code or under any similar law, statute, or
ordinance now or hereafter in effect.

 

ARTICLE 7

HAZARDOUS MATERIALS

 

7.1           Hazardous
Materials. Landlord and Tenant agree as follows with respect to the existence or use of Hazardous Materials (as defined in Section 7.1.6,
below) on the Project;

 

7.1.1.            Hazardous
Materials Disclosure Certificate. Upon request by Landlord from time to time, Tenant shall deliver to Landlord an executed Hazardous
Materials disclosure statement, substantially in the form reasonably required by Landlord from time to time describing Tenant’s
then-present use of Hazardous Materials on the Premises, and shall also deliver any other reasonably necessary documents as requested
by Landlord. Tenant shall concurrently file with Landlord a copy of any business response plan or inventory required to be maintained
and/or filed with any federal, state or local regulatory agency under any applicable Laws. Landlord and Tenant acknowledge and agree that,
as of the date of this Lease, (i) Tenant has fully and accurately completed Landlord’s pre-leasing environmental exposures
questionnaire (the “Environmental Questionnaire”), and (ii) Tenant has submitted to Landlord a Hazardous Materials
Business Plan (the “HMBP Plan” and, together with the Environmental Questionnaire, the “Approved Hazardous
Materials”), each as set forth on Exhibit E attached hereto (the “Approved Hazardous Materials Exhibit”).

 

    -28-

     

    

 

7.1.2.       Hazardous
Materials Usage. Neither Tenant, nor Tenant’s employees, contractors and subcontractors of any tier, entities with a contractual
relationship with Tenant (other than Landlord), or any entity acting as an agent or sub-agent of Tenant, shall be entitled to produce,
use, store, generate, transport or dispose of any Hazardous Materials on, in, or about any portion of the Premises, Building or the Project,
or cause or permit any Hazardous Materials to be brought upon, placed, stored, manufactured, generated, blended, handled, recycled, used
or released on, in, under or about the Premises (herein referred to as Hazardous Materials Usage”), without, in each instance,
obtaining Landlord’s prior written consent thereto which shall not be unreasonably withheld, except Tenant shall be entitled to
use and/or store only those Hazardous Materials, and their respective quantities, which are (i) specifically listed on the Approved
Hazardous Materials Exhibit or as otherwise permitted by this Section 7.1.2, and (ii) used and stored in full compliance
with Laws, and all judicial and administrative decisions pertaining thereto. Tenant shall not be entitled nor permitted to install any
tanks under, on or about the Premises, Building or Project for the storage of Hazardous Materials without the express written consent
of Landlord, which may be given or withheld in Landlord’s sole and absolute discretion. If any information provided to Landlord
by Tenant on the Approved Hazardous Materials Exhibit or otherwise relating to information concerning Hazardous Materials is false,
incomplete, or misleading in any material respect, the same shall be deemed a default by Tenant under this Lease. Landlord’s prior
written consent shall be required for any Hazardous Materials use on the Premises not described on the initial Approved Hazardous Materials
Exhibit, such consent not to be unreasonably withheld. Notwithstanding the foregoing requirement, Tenant is authorized to use Hazardous
Materials not described on the initial Approved Hazardous Materials Exhibit provided: (1) such use does not require any additional
licenses, certifications, permits or approvals from any external agency, (2) such Hazardous Materials do not present a significant
increase in quantity (i.e., such quantities as would required external agency notification and/or amendment of Tenant’s Hazardous
Materials Business Plan), (3) such Hazardous Materials do not present a significantly new hazard (i.e., materials with California
Fire Code Hazard Classifications different from already disclosed Hazardous Materials), and (4) any Hazardous Materials introduced
in this manner are reported to Landlord in a timely fashion not to exceed thirty (30) days from the first date of use or storage. Any
Hazardous Materials Usage by Tenant and Tenant’s Agents after the Effective Date on or about the Project shall strictly comply with
all applicable Laws, including all Hazardous Materials Laws now or hereinafter enacted. Such foregoing obligation shall include, without
limitation, maintaining, and complying with, all required necessary licenses, certifications, permits and approvals appropriate or required
for any Hazardous Materials Usage by Tenant on the Premises. Landlord shall have a continuing right, without obligation, to require Tenant
to obtain, and to review and inspect any and all such permits, licenses, certifications and approvals, together with copies of any and
all Hazardous Materials management plans and programs, any and all Hazardous Materials risk management and pollution prevention programs,
and any and all Hazardous Materials emergency response and employee training programs respecting Tenant’s Hazardous Materials Usage.
Upon request of Landlord, Tenant shall deliver to Landlord a narrative description explaining the nature and scope of Tenant’s activities
involving Hazardous Materials and demonstrating to Landlord’s satisfaction Tenant’s compliance with all Hazardous Materials
Laws and the terms of this Lease.

 

7.1.3.       Tests
and Inspections. Landlord shall have the right, but not the obligation, at all times during the Term of this Lease to
(i) enter and inspect the Premises, (ii) conduct tests and investigations periodically and from time to time to determine
whether Tenant is in compliance with the provisions of this Section 7.1 or to determine if Hazardous Materials are
present in, on or about the Project, and (iii) request lists identifying by type and amount all Hazardous Materials used,
stored or otherwise located on, under or about any portion of the Premises and/or the Common Areas. The cost of all such
inspections, tests and investigations shall be borne by Tenant, if as a result thereof Landlord reasonably determines that
contamination has occurred on the Premises and/or Common Areas and that Tenant or any of Tenant’s Agents are directly or
indirectly responsible in any manner for the contamination. The aforementioned rights granted herein to Landlord and its
representatives shall not create (a) a duty on Landlord’s part to inspect, test, investigate, monitor or otherwise
observe the Premises or the activities of Tenant and Tenant’s Agents with respect to Hazardous Materials, including without
limitation, Tenant’s operation, use and any remediation related thereto, or (b) liability on the part of Landlord and its
representatives for Tenant’s use, storage, disposal or remediation of Hazardous Materials, it being understood that Tenant
shall be solely responsible for all liability in connection therewith.

 

    -29-

     

    

 

7.1.4.       Notice;
Cleanup Obligations; Closure and Decommissioning.

 

7.1.4.1          Notice.
Tenant shall give to Landlord immediate verbal and follow-up written notice of any spills, releases, discharges, disposals, emissions,
migrations, removals or transportation of Hazardous Materials on, under or about any portion of the Premises, Common Areas or Project;
provided that Tenant has actual knowledge of such event(s). Tenant shall promptly forward to Landlord copies of all requests, orders,
notices, permits, applications, and other communications and reports received by Tenant from or submitted by Tenant to any federal, state
or local regulatory agency with jurisdiction over Tenant’s operations of the Premises in connection with the foregoing. To the extent
of any regulatory, judicial or other enforcement action or proceeding in connection with the foregoing is commenced against Tenant, Tenant
shall not enter into any settlement, consent decree or other compromise or resolution without first notifying Landlord of Tenant’s
intention to do so and affording Landlord the opportunity to join and participate, as a party if Landlord so elects, in such proceedings
and in no event shall Tenant enter into any consent decree, consent order or other agreements with terms which are binding on Landlord
or the Premises without Landlord’s prior written consent. Landlord shall have the right to appear at and participate in, any and
all judicial or other administrative proceedings concerning any such foregoing claims.

 

7.1.4.2            Cleanup
Obligations. Tenant, at its sole cost and expense, covenants and warrants to promptly investigate, clean up, remove, restore and otherwise
remediate (including, without limitation, preparation of any feasibility studies or reports and the performance of any and all closures)
any spill, release, discharge, disposal, emission, migration or transportation, incident or other consequences of its Hazardous Materials
Usage of Hazardous Materials arising from the acts or omissions of Tenant or Tenant’s Agents such that the affected portions of
the Project and any adjacent property are returned to the condition existing prior to such incident or Tenant’s commencement of
Hazardous Materials Usage. Tenant shall provide a written certification to Landlord indicating that Tenant has complied with all applicable
reporting requirements. Any such investigation, clean up, removal, restoration and other remediation shall only be performed after Tenant
has obtained Landlord’s prior written consent in its sole and absolute discretion. Further, any such investigation, clean up, removal,
restoration and other remediation shall be performed in compliance with applicable Laws, the HMBP Plan and in accordance with this Lease.
Notwithstanding the foregoing. Tenant shall be entitled to respond immediately to an emergency without first obtaining Landlord’s
prior written consent.

 

7.1.4.3          Closure
and Decommissioning. Tenant, at its sole cost and expense, shall conduct and perform, or cause to be conducted and performed, all
closures and decommissioning activity’ as required by any Hazardous Materials Laws or any federal, state or local regulatory agencies
or other governmental authorities having jurisdiction over the Premises and Tenant’s activities thereon as a result of the Hazardous
Materials Usage by Tenant or Tenant’s Agents. All such work undertaken by Tenant, as required herein, shall be performed in such
a manner so as to enable Landlord to make full economic use of the Premises and the other portions of the Project after the satisfactory
completion of such work.

 

    -30-

     

    

 

7.1.5.       Indemnity.
Tenant shall indemnify, hold harmless, and, at Landlord’s option (with such attorneys as Landlord may approve in advance and
in writing), defend Landlord and Landlord’s officers, directors, shareholders, partners, members, managers, employees,
contractors, property managers, agents and mortgagees (“Landlord Parties”) and other lien holders, from and
against any and all “Losses” (hereinafter defined) arising from or related to: (a) any violation or alleged
violation by Tenant or any of Tenant’s Agents of any of the Laws, including, without limitation, the Hazardous Materials Laws;
(b) any breach of the provisions of this Section 7.lor any subsection thereof by Tenant or any of Tenant’s
Agents; (c) any Hazardous Materials Usage by Tenant or Tenant’s Agents on, about or from the Premises, the Project or
Common Areas of any Hazardous Materials approved by Landlord under this Lease, or (d) Landlord’s exercise of the
 “Landlord Cure Right,” as that term is defined in Section 7.1.9, below. The term “Losses”
shall mean all claims, demands, expenses, actions, judgments, damages, penalties, fines, liabilities, losses of every kind and
nature (including, without limitation, property damage, diminution in value of Landlord’s interest in the Premises or the
Project, damages for the loss or restriction on use of any space or amenity within the Building or the Project, damages arising from
any adverse impact on marketing space in the Project, sums paid in settlement of claims and any costs and expenses associated with
injury, illness or death to or of any person), suits, administrative proceedings, costs and fees, including, but not limited to,
attorneys’ and consultants’ fees and expenses, and the costs of cleanup, remediation, removal and restoration. To the
actual knowledge of Landlord, except as set forth in reports delivered to Tenant before Tenant’s execution of this Lease,
Landlord has no written notices, reports, materials or other written information indicating the presence of Hazardous Materials on
the Project or the soil, surface water or groundwater thereof in violation of Hazardous Material Laws. Landlord agrees to indemnify,
defend, protect and hold harmless the Tenant from and against any liability, obligation, damage or costs, including without
limitation, claims for personal injuries, property damage or regulatory liability arising out of Hazardous Material Laws, and
including reasonable attorneys’, consultants and expert’s fees and costs, resulting from any Hazardous Materials which
were brought onto the Property or within the Buildings or the Premises by Landlord or a Landlord Party, except to the extent such
liability, obligation, damage or costs was a result of an act or omission of Tenant and/or any of Tenant’s agents, servants,
employees, and independent contractors (“Tenant Parties”), or was proportionately caused, exacerbated or
permitted by Tenant or a Tenant Party.

 

7.1.6.       Hazardous
Materials. As used herein, the term “Hazardous Materials” means any hazardous, radioactive or toxic substance,
material or waste which is or becomes regulated by any local governmental authority, the State of California or the United States Government
or under any Hazardous Material Laws. The term “Hazardous Materials,” includes, without limitation, hazardous radioactive
material, radioactive material, mixed waste, petroleum products, asbestos, PCB’s, and any material or substance which is (i) listed
under Article 9 or defined as hazardous or extremely hazardous pursuant to Article 11 of Title 22 of the California Code of
Regulations, Division 4, Chapter 20, (ii) defined as a “hazardous waste” pursuant to Section 1004 of the federal
Resource Conservation and Recovery Act, 42 U.S.C. 6901 et seq. (42 U.S.C. 6903), (iii) defined as a “hazardous substance”
pursuant to Section 101 of the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. 9601 et seq. (42 U.S.C.
9601) or (iv) regulated as a radioactive material under Title 17, Division 1, Chapter 5, Subchapter 4 of the California Code or Regulations
and Title 10, Code of Federal Regulations, part 20. As used herein, the term “Hazardous Material Laws” shall mean any
statute, law, ordinance, or regulation of any governmental body or agency (including the U.S. Environmental Protection Agency, the California
Regional Water Quality Control Board, the California Department of Public Health Radiologic Health Branch and the California Department
of Toxic Substances Control) which regulates the use, storage, release or disposal of any Hazardous Material.

 

7.1.7.       Removal.
Tenant shall cause all Hazardous Materials used in the manufacture of Tenant’s products, but which are not included in a standard
finished product which is delivered to Tenant’s customers, to be appropriately stored and/or relocated to an appropriate and permitted
disposal or management facility in accordance with all applicable Laws.

 

    -31-

     

    

 

7.1.8.       Tenant’s
Obligations upon Surrender. At the expiration or earlier termination of the Lease Term, Tenant, at Tenant’s sole cost and expense,
shall: (i) cause an environmental assessment of the Premises to be conducted in accordance with this Section 7.1.8; (ii) cause
all Hazardous Materials present as a result of the Hazardous Materials Usage by Tenant or Tenant’s Agents to be removed from the
Premises and managed or disposed of in accordance with all Hazardous Materials Laws and as necessary to allow the Premises to be used
for any purpose; and (iii) cause to be removed all containers installed or used by Tenant or Tenant’s Agents to store any Hazardous
Materials on the Premises, and cause to be repaired any damage to the Premises caused by such removal. In connection with its surrender
of the Premises, Tenant shall submit to Landlord, at least one hundred twenty (120) days prior to the expiration date of this Lease (or
in the event of an earlier termination of this Lease, as soon as reasonably possible following such termination), an environmental assessment
of the Premises by a competent and experienced environmental engineer or engineering firm reasonably satisfactory to Landlord (pursuant
to a contract approved by Landlord and providing that Landlord can rely on the environmental assessment), which (i) evidences that
the Premises are in a clean and safe condition and free and clear of any Hazardous Materials; and (ii) includes a review of the Premises
by an environmental consultant for asbestos, mold, fungus, spores, and other moisture conditions, on-site chemical use, and lead-based
paint. If such environmental assessment reveals that remediation or clean-up is required under any Hazardous Materials Laws as a result
of the Hazardous Materials Usage by Tenant or Tenant’s Agents, Tenant shall submit a remediation plan prepared by a recognized environmental
consultant and shall be responsible for all costs of remediation and clean-up, as provided in this Section 7.1.

 

7.1.9.       Landlord
Cure Right. If Tenant fails to comply with the terms of this Section 7.1, including, without limitation, if Tenant fails
to carry out any required closure or decommissioning or otherwise fails to promptly investigate, clean up, remove, restore, provide closure
or otherwise so remediate the Premises pursuant to Tenant’s removal or remediation obligation with respect to the Hazardous Materials
Usage by Tenant or Tenant’s Agents, as required by Hazardous Materials Laws, Landlord may, but without obligation to do so, take
any and all steps necessary to rectify the same and Tenant shall promptly reimburse Landlord, upon demand, for all costs and expenses
to Landlord of performing investigation, clean up, removal, restoration, closure and remediation work (the “Landlord Cure Right”).

 

7.1.10.     Pollution
Legal Liability Environmental Insurance. Tenant shall obtain and maintain Pollution Legal Liability Environmental Insurance (a) from
an insurance carrier with a rating of no less than A-X in Best’s Insurance Guide, and (b) providing commercially reasonable
coverage and deductibles (to the extent available) with respect to (i) known and unknown pre-existing conditions; (ii) unknown
and later discovered conditions; (iii) on-site and off-site third-party claims for bodily injury or property damage; and (iv) legal
defense expenses. The form of the Pollution Legal Liability Environmental Insurance policy shall be reasonably acceptable to Landlord,
and Tenant shall maintain such policy continuously for the entire Lease Term (including any Option Term) plus an additional six (6) months.
Further, notwithstanding anything to the contrary set forth in this Lease, as a condition precedent to the effectiveness of Tenant’s
exercise of its right to extend the Lease Term by the Extension Period pursuant to the terms of Exhibit D attached hereto
or otherwise, Tenant shall have obtained the policy described in this Section 7.1.10, in accordance with the terms of this
Section 7.1.10, including without limitation, that such policy shall be maintained by Tenant continuously for the entire Extension
Period plus an additional six (6) months. Landlord shall be named as an additional named insured on the Pollution Legal Liability
Environmental Insurance policy by endorsement, and an endorsement shall be issued to the Pollution Legal Liability Environmental Insurance
policy that provides the policy cannot be amended, modified, terminated or cancelled by the insured without the prior written consent
of Landlord. Any new Pollution Legal Liability Environmental Insurance policy that Tenant obtains shall provide coverage for pollution
conditions and unknown claims arising prior to the date such policy was issued (e.g., pre-existing conditions shall be covered).

 

    -32-

     

    

 

7.2           Survival.
The obligations of Tenant under this Article 7 shall survive the expiration or earlier termination of this Lease, and shall
remain effective until all of Tenant’s obligations under this Article 7 have been completely performed and satisfied.
The rights and obligations of Landlord and Tenant with respect to issues relating to Hazardous Materials are exclusively established by
this Article 7. In the event of any inconsistency between any other part of this Lease and Article 7, the terms
of this Article 7 shall control.

 

ARTICLE 8

SERVICES AND UTILITIES

 

8.1           Standard
Tenant Services. Landlord shall provide the following services on all days (unless otherwise stated below) during the Lease Term:

 

8.1.1.       As
part of Operating Expenses, Landlord shall replace lamps, starters and ballasts for Building standard lighting fixtures within the Premises.
Tenant shall bear the cost of replacement of lamps, starters and ballasts for non-Building standard lighting fixtures within the Premises.

 

8.1.2.       Landlord
shall provide city water from the regular Building outlets for drinking, lavatory and toilet purposes.

 

Tenant shall cooperate fully with Landlord at all
times and abide by all rules, regulations and requirements that Landlord may reasonably prescribe for the proper functioning and protection
of the Building HVAC, electrical, mechanical and plumbing systems.

 

8.2           Intentionally
Omitted.

 

8.3           Interruption
of Use. Tenant agrees that Landlord shall not be liable for damages, by abatement of Rent or otherwise, for failure to furnish or
delay in furnishing any service (including telephone and telecommunication services), or for any diminution in the quality or quantity
thereof, when such failure or delay or diminution is occasioned, in whole or in part, by breakage, repairs, replacements, or improvements,
by any strike, lockout or other labor trouble, by inability to secure electricity, gas, water, or other fuel at the Building or Project
after reasonable effort to do so, by any riot or other dangerous condition, emergency, accident or casualty whatsoever, by act or default
of Tenant or other parties, or by any other cause beyond Landlord’s reasonable control; and such failures or delays or diminution
shall never be deemed to constitute an eviction or disturbance of Tenant’s use and possession of the Premises or relieve Tenant
from paying Rent or performing any of its obligations under this Lease. Furthermore, Landlord shall not be liable under any circumstances
for a loss of, or injury to, property or for injury to, or interference with, Tenant’s business, including, without limitation,
loss of profits, however occurring, through or in connection with or incidental to a failure to furnish any of the services or utilities
as set forth in this Article 8.

 

ARTICLE 9

INSURANCE

 

9.1           Tenant’s
Insurance. Throughout the Lease Term, Tenant shall maintain the following coverages in the following amounts:

 

    -33-

     

    

 

9.1.1.       Commercial
general liability insurance, including property damage, against liability for personal injury, bodily injury, death and damage to
property (including loss of use thereof) based upon or arising out of Tenant’s operations, occupancy or maintenance of the
Project and all appurtenances thereto, and including contractual liability coverage insuring Tenant’s performance of its
obligations under this Lease, including the indemnity agreements set forth in Section 10.1, below, for limits of
liability not less than:

 

	Bodily Injury and	$5,000,000 each occurrence
	Property Damage Liability	$5,000,000 annual aggregate
	 	 
	Personal Injury Liability	$5,000,000 each occurrence
	 	$5,000,000 annual aggregate
	 	0% Insured’s participation

 

9.1.2.       Fire
and property damage insurance in so-called “all risk” form, insuring (i) all office furniture, business and trade fixtures,
office equipment, free-standing cabinet work, movable partitions, merchandise and all other items of Tenant’s property on the Premises
installed by, for, or at the expense of Tenant, (ii) the Tenant Improvements and any other improvements which exist in the Premises
as of the Lease Commencement Date (excluding the Base Building) (collectively, the “Original Improvements”), and (iii) all
other Alterations, improvements and additions to the Premises, for the full replacement cost thereof, without deduction for depreciation
of the covered items and in amounts that meet any co-insurance clauses of the policies of insurance and shall include coverage for damage
or other loss caused by fire or other peril including, but not limited to, vandalism and malicious mischief, theft, water damage of any
type, including sprinkler leakage, bursting or stoppage of pipes, and explosion; and

 

9.1.3.       Insurance
for: (a) Business Auto Liability covering owned, non-owned and hired vehicles with a limit of not less than $1,000,000 per accident;
(b) Workers Compensation and Employers Liability pursuant to all applicable state and local statutes and regulations; (c) Business
Interruption Insurance for a period of one (1) year, and (d) Excess Liability in the amount of $5,000,000. In addition, whenever
Tenant shall undertake any Alterations, additions or improvements in, to or about the Premises, the aforesaid insurance protection must
extend to and include injuries to persons and damage to property arising in connection with such Work, without limitation including liability
under any applicable structural work act, and such other insurance as Landlord shall require; and the policies of or certificates evidencing
such insurance must be delivered to Landlord prior to the commencement of any such Work.

 

9.1.4.       Form of
Policies. The minimum limits of policies of insurance required of Tenant under this Lease shall in no event limit the liability of
Tenant under this Lease. Each policy of insurance required to be carried by Tenant pursuant to this Section 9.1 shall: (i) name
Landlord and such other parties in interest as Landlord reasonably designates as additional insureds; (ii) be primary insurance as
to all claims thereunder and provide that the insurer shall be liable for the full amount of the loss up to and including the total amount
of liability set forth in the declarations without the right of contribution from any other insurance coverage of Landlord; (iii) be
in form and content reasonably satisfactory to Landlord; (iv) be issued by an insurance company having a rating of not less than
A-X in Best’s Insurance Guide or which is otherwise reasonably acceptable to Landlord and licensed to do business in the State of
California; (v) provide that such insurance shall not be subject to cancellation, lapse or coverage change unless thirty (30) days’
prior written notice shall have been given to Landlord and any mortgagee of Landlord; (vi) specifically cover the liability assumed
by Tenant under this Lease, including, but not limited to, Tenant’s obligations under Section 10.1 of this Lease; (vii) shall
contain a cross liability endorsement; and (viii) shall contain a “severability” clause. If Tenant has in full force
and effect a blanket policy of liability insurance with the same coverage for the Premises as described above, as well as other coverage
of other premises and properties of Tenant, or in which Tenant has some interest, such blanket insurance shall satisfy the requirements
of this Section 9.1.

 

    -34-

     

    

 

9.1.5.       Evidence
of Insurance. A copy of each policy evidencing the insurance required to be carried by Tenant pursuant to this Section 9.1 (appropriately
authenticated by the insurer), or a certificate of the insurer, certifying that such policy has been issued, providing the coverage
required by this Section 9.1, and containing the provisions specified herein, shall be delivered to Landlord prior to
the time Tenant or any of Tenant’s Agents are first provided access to the Premises, and upon the renewal of such policies.
Landlord may, at any time, and from time to time, inspect and/or copy any and all insurance policies required to be procured by
Tenant pursuant to this Section 9.1. In the event Tenant shall fail to procure such insurance, or to deliver such
policies or certificates, Landlord may, at its option, on five (5) days’ notice to Tenant, procure such policies for the
account of Tenant, and the cost thereof shall be paid to Landlord within five (5) days after delivery to Tenant of bills
therefor.

 

9.2           Landlord’s
Insurance. Landlord shall maintain a policy or policies of insurance against loss or damage to the Building on an “all risk”
type insurance form, with customary exceptions, subject to such deductibles and self-insured retentions as Landlord may determine, in
an amount equal to at least the full replacement value of the Building. Landlord may insure the Building separately, or with other property
owned by Landlord which Landlord elects to insure together under the same policy or policies. Landlord shall have the right, but not the
obligation, in its sole and absolute discretion, to obtain insurance for such additional perils as Landlord deems appropriate, including,
without limitation, coverage for damage by earthquake and/or flood. Landlord shall not be required to maintain insurance with respect
to any improvements, alterations or fixtures of Tenant located at the Premises.

 

9.3           Release
and Waiver of Subrogation. Landlord and Tenant intend that their respective property loss risks shall be borne by reasonable
insurance carriers to the extent above provided, and Landlord and Tenant hereby agree to look solely to, and seek recovery only
from, their respective insurance carriers in the event of a property loss to the extent that such coverage is agreed to be provided
hereunder. The parties each hereby waive all rights and claims against each other for such losses, and waive all rights of
subrogation of their respective insurers, provided such waiver of subrogation shall not affect the right to the insured to recover
thereunder. The parties agree that their respective insurance policies are now, or shall be, endorsed such that the waiver of
subrogation shall not affect the right of the insured to recover thereunder, so long as no material additional premium is charged
therefor.

 

9.4           Additional
Insurance Obligations. Tenant shall carry and maintain during the entire Lease Term, at Tenant’s sole cost and expense, increased
amounts of the insurance required to be carried by Tenant pursuant to this Article 9 and such other reasonable types of insurance
coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably requested by
Landlord; provided, however, that in no event shall such new or increased amounts or types of insurance exceed that required of comparable
tenants by landlords of comparable buildings in Fremont, California.

 

    -35-

     

    

 

ARTICLE 10

INDEMNIFICATION AND WAIVER

 

10.1         Indemnification
and Waiver. Except to the extent (i) otherwise expressly set forth in this Lease to the contrary, or (ii) caused by
the negligence or willful misconduct of the Landlord Parties, Tenant hereby assumes all risk of damage to property or injury to
persons in, upon or about the Premises from any cause whatsoever and agrees that the Landlord Parties shall not be liable for, and
are hereby released from any responsibility for, any damage either to person or property or resulting from the loss of use thereof,
which damage is sustained by Tenant or by other persons claiming through Tenant. Tenant shall indemnify, defend, protect, and hold
harmless the Landlord Parties from and against any and all loss, cost, damage, expense and liability (including without limitation
court costs and reasonable attorneys’ fees) incurred in connection with or arising from: (a) any causes in, on or about
the Premises; (b) the use or occupancy of the Premises by Tenant or any person claiming under Tenant; (c) any activity,
work, or thing done, or permitted or suffered by Tenant in or about the Premises; (d) any acts, omission, or negligence of
Tenant or Tenant’s Agents, in, on or about the Project; (e) any breach, violation, or non-performance by Tenant or any
person claiming under Tenant or Tenant’s Agents of any term, covenant, or provision of this Lease or any law, ordinance, or
governmental requirement of any kind; (f) any injury or damage to the person, property, or business of Tenant or Tenant’s
Agents entering upon the Premises under the express or implied invitation of Tenant; (g) the placement of any personal property
or other items within the Premises; and (h) the Premises not having been inspected by a Certified Access Specialist (CASp),
provided that the terms of the foregoing indemnity shall not apply to the extent (x) otherwise expressly set forth in this
Lease to the contrary, or (y) caused by the negligence or willful misconduct of the Landlord Parties. Should Landlord be named
as a defendant in any suit brought against Tenant in connection with or arising out of Tenant’s occupancy of the Premises, and
to the extent covered by the indemnity of Tenant set forth in this Section 10.1, Tenant shall pay to Landlord its costs
and expenses incurred in such suit, including without limitation, its actual professional fees such as appraisers’,
accountants’ and attorneys’ fees. Further, Tenant’s agreement to indemnify Landlord pursuant to this Section 10.1 is
not intended and shall not relieve any insurance carrier of its obligations under policies required to be carried by Tenant pursuant
to the provisions of this Lease, to the extent such policies cover the matters subject to Tenant’s indemnification
obligations; nor shall they supersede any inconsistent agreement of the parties set forth in any other provision of this Lease. The
provisions of this Section 10.1 shall survive the expiration or sooner termination of this Lease with respect to any
claims or liability arising in connection with any event occurring prior to such expiration or termination. Notwithstanding anything
to the contrary contained in this Lease, except in connection with any repair or maintenance performed by Tenant in the Premises, or
pursuant to Article 16 of this Lease, below, nothing in this Lease shall impose any obligations on Tenant or Landlord to
be responsible or liable for, and each hereby releases the other from all liability for, consequential damages.

 

10.2            Landlord
Exculpation. The liability of Landlord or the Landlord Parties to Tenant for any default by Landlord under this Lease or arising in
connection herewith or with Landlord’s operation, management, leasing, repair, renovation, alteration or any other matter relating
to the Project or the Premises shall be limited solely and exclusively to an amount which is equal to the equity interest of Landlord
in the Building and the rents, issues and profits therefrom. Neither Landlord, nor any of the Landlord Parties shall have any personal
liability therefor, and Tenant hereby expressly waives and releases such personal liability on behalf of itself and all persons claiming
by, through or under Tenant. The limitations of liability contained in this Section 10.2 shall inure to the benefit of Landlord’s
and the Landlord Parties’ present and future partners, beneficiaries, officers, directors, trustees, shareholders, agents and employees,
and their respective partners, heirs, successors and assigns. Under no circumstances shall any present or future partner of Landlord (if
Landlord is a partnership), or trustee or beneficiary (if Landlord or any partner of Landlord is a trust), have any liability for the
performance of Landlord’s obligations under this Lease. Notwithstanding any contrary provision herein, neither Landlord nor the
Landlord Parties shall be liable under any circumstances for any indirect or consequential damages or any injury or damage to, or interference
with, Tenant’s business, including but not limited to, loss of profits, loss of rents or other revenues, loss of business opportunity,
loss of goodwill or loss of use, in each case, however occurring.

 

    -36-

     

    

 

ARTICLE 11

DAMAGE TO PREMISES

 

11.1         Landlord’s
Duty to Restore. Subject to the provisions of Sections 11.2 and 11.3, below, if the Premises are damaged by fire or other
casualty, Landlord shall promptly and diligently restore the Base Building to substantially the same condition as existed prior to
the casualty, except for modifications required by zoning and building codes and other laws, or by the holder of a mortgage on the
Building or Project, or any other modifications to the Common Areas deemed desirable by Landlord. All insurance proceeds available
from the fire and property damage insurance carried by Landlord shall be paid to and become the property of Landlord. If this Lease
is terminated pursuant to either Section 11.2 or Section 11.3, below, then all insurance proceeds available
from the fire and property damage insurance carried by Tenant and all insurance covering the Original Improvements and any
Alterations, but excluding proceeds for trade fixtures, merchandise, signs and other personal property of Tenant, shall be disbursed
and paid to Landlord. If this Lease is not terminated pursuant to either Section 11.2 or Section 11.3,
below, then Tenant shall forthwith replace or fully repair all Original Improvements and any Alterations made in the Premises by
Tenant, and replace its furniture, fixtures and equipment in the Premises.

 

11.2         Landlord’s
Right to Terminate. Notwithstanding Section 11.1 above, Landlord shall have the right, upon written notice to Tenant within
sixty (60) days following the date of the casualty, to terminate this Lease in the event any of the following occurs:

 

11.2.1.      Damage
From Insured Peril. The Building or Project is damaged by fire or other peril, and the cost of repair is covered by insurance and
the estimated time for repair and restoration of same exceeds one hundred eighty (180) days after the date of such damage;

 

11.2.2.        Damage
From Uninsured Peril. The Building or Project is damaged, and the cost of repair is not covered by insurance (including deductible
amounts); provided, however, that any election by Landlord to terminate this Lease pursuant to this Section 11.2.2 shall be
null and void if one or more tenants of the Project agree in writing to pay the amount by which the cost to restore the Building or Project,
as applicable, exceeds such amount, and such party(ies) subsequently deposit such amount with Landlord within thirty (30) days after Landlord
has notified Tenant of its election to terminate this Lease;

 

11.2.3.        Damage
Near End of Term. The Premises are damaged by any peril during the last twelve (12) months of the Lease Term and the estimated cost
to restore the Premises equals or exceeds an amount equal to six (6) times the then-applicable Base Monthly Rent; provided, however,
that any election by Landlord to terminate this Lease pursuant to this Section 11.2.3 shall be null and void if Tenant, at
the time of such damage, has a then valid option to extend the Lease Term pursuant to this Lease, and Tenant exercises such option to
extend the Lease Term within fifteen (15) days following the date of such damage; or

 

11.2.4.         Restrictions
on Restoration. The Building or Project is damaged by any peril and, because of the Laws then in effect and applicable to the Project,
the Building or Project, as applicable (i) cannot be restored by Landlord at reasonable cost to substantially the same condition
as existed prior to such damage, or (ii) cannot be used for the same use being made thereof prior to such damage if the same is restored
as required by this Article 11.

 

11.3         Tenant’s
Right to Terminate. If the Premises are damaged by any peril and Landlord does not elect to terminate this Lease, or is not entitled
to terminate this Lease pursuant to Section 11.2, above, then as soon as reasonably practicable following the date of such
damage, Landlord shall provide Tenant with written notice stating the estimated time for repair or restoration following the issuance
of a building permit for such work. Tenant shall have the right, upon written notice to Landlord within seven (7) days following
receipt of such written notice from Landlord, to terminate this Lease in the event any of the following occurs:

 

11.3.1.        Major
Damage. The Premises are damaged by any peril and the time stated in Landlord’s notice for the repair and restoration of the
Premises exceeds two hundred-seventy (270) days following the issuance of a building permit; or

 

    -37-

     

    

 

11.3.2.        Damage
Near End of Term. The Premises are damaged by any peril during the last twelve (12) months of the Lease Term and the time stated in
Landlord’s notice for the repair and restoration of the Premises exceeds ninety (90) days following the issuance of a building permit.

 

11.4         Abatement
of Rent. In the event of damage to the Premises which does not result in the termination of this Lease, the Base Monthly Rent and
the Additional Rent payable hereunder shall be temporarily abated during the period of restoration in proportion to the degree to which
Tenant’s use of the Premises is impaired during such period of restoration. Tenant shall not be entitled to any compensation or
damages from Landlord for loss of Tenant’s business or property, or for any inconvenience or annoyance caused by such damage or
restoration.

 

11.5         Waiver
of Statutory Provisions, The provisions of this Lease, including this Article 11, constitute an express agreement between
Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, the Building or the Project,
and any statute or regulation of the State of California, including, without limitation, Sections 1932(2) and 1933(4) of the
California Civil Code, with respect to any rights or obligations concerning damage or destruction in the absence of an express agreement
between the parties, and any other statute or regulation, now or hereafter in effect, shall have no application to this Lease or any damage
or destruction to all or any part of the Premises, the Building or the Project.

 

ARTICLE 12

CONDEMNATION

 

12.1         Landlord’s
Termination Right. If the whole or any part of the Premises, Building or Project shall be taken by power of eminent domain or condemned
by any competent authority for any public or quasi-public use or purpose, or if Landlord shall grant a deed or other instrument in lieu
of such taking by eminent domain or condemnation, Landlord shall have the right to terminate this Lease effective as of the date possession
is required to be surrendered to the condemning authority.

 

12.2         Tenant’s
Termination Right. If, as a result of any taking by means of the exercise of the power of eminent domain (including any voluntary
sale or transfer by Landlord to any condemnor under threat of condemnation), (i) twenty-five percent (25%) or more of the rentable
square feet of the Premises is taken and the part of the Premises that remains cannot be restored within a reasonable period of time following
the date possession is required to be surrendered to the authority, and the continued operation of the Tenant’s business from the
Premises is thereby materially impaired, or (ii) as a result of any taking Tenant’s access to the Premises is materially impaired,
then Tenant shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to the condemning
authority.

 

12.3         Restoration
and Abatement of Rent. If any part of the Premises or the Common Areas is taken by condemnation and this Lease is not terminated,
then Landlord shall, to the extent of the condemnation proceeds, restore the remaining portion of the Premises or Common Areas necessary
for Tenant to reasonably operate Tenant’s business from the Premises. Thereafter, subject to Section 12.4 below, as
of the date possession is required to be surrendered to the authority, the Base Monthly Rent and Additional Rent payable hereunder shall
be reduced in the same proportion that the number of rentable square feet of the Premises so taken (less any addition thereto by reason
of any restoration or reconstruction by Landlord) bears to the original number of rentable square feet in the Premises.

 

12.4         Temporary
Taking. If any portion of the Premises is temporarily taken for a period of one hundred fifty (150) days or less (a
 “Temporary Taking”), this Lease shall remain in effect and the provisions of Sections 12.1 through 12.3,
above, shall not apply. If any Temporary Taking extends beyond the natural expiration of the Lease Term, and such taking materially
and adversely affects Tenant’s ability to use the Premises for the Permitted Use, then Tenant shall have the right to
terminate this Lease, effective on the date possession is required to be surrendered to the condemning authority.

 

    -38-

     

    

 

12.5         Award.
The entire award or compensation made as a result of any condemnation proceeding shall belong to and be the property of Landlord, and
Tenant hereby assigns to Landlord all of its right, title and interest in any such award; provided, however, that Tenant shall be entitled
to recover from the condemning authority such compensation as may be separately awarded by the condemning authority to Tenant or recoverable
from the condemning authority by Tenant in its own right for the taking of trade fixtures and equipment owned by Tenant and for the expense
of removing and relocating its trade fixtures and equipment, so long as the award made to Landlord is not thereby reduced. The rights
of Landlord and Tenant regarding any condemnation shall be determined as provided in this Article 12, and each party hereby
waives the provisions of California Code of Civil Procedure Section 1265.130 and the provisions of any similar law hereinafter enacted.

 

ARTICLE 13

DEFAULT AND REMEDIES

 

13.1         Events
of Default. Tenant shall be in default of this Lease if any of the following events occurs (each, an “Event of Tenant’s
Default”):

 

13.1.1.        Any
failure by Tenant to pay any installment of Rent or any other charges required to be paid under this Lease when due, and such failure
is not cured within three (3) business days after delivery of notice to Tenant from Landlord specifying such failure to pay; or

 

13.1.2.        Except
where a specific time period is otherwise set forth for Tenant’s performance in this Lease, in which event the failure to perform
by Tenant within such time period shall be an Event of Tenant’s Default under this Section 13.1, any failure by Tenant
to observe or perform any term, covenant, or condition of this Lease, where such failure continues for more than thirty (30) days after
written notice from Landlord to Tenant specifying the nature of such failure; provided that if the nature of such default is such that
the same cannot reasonably be cured within a thirty (30) day period, Tenant shall not be deemed to be in default if it diligently commences
such cure within such period and thereafter diligently proceeds to rectify and cure such default; or

 

13.1.3.        Any
Transfer (as defined below) by Tenant in violation of the provisions contained in Article 14; or

 

13.1.4.        Any
abandonment or vacation of all or substantially all of the Premises by Tenant; or

 

13.1.5.        The
occurrence of any of the following: (i) the making by Tenant of any general arrangements or assignments for the benefit of creditors;
(ii) Tenant shall become a “debtor” as defined in 11 USC §101 or any successor statute thereto (unless, in the case
of a petition filed against Tenant, the same is dismissed within sixty (60) days); (iii) the appointment of a trustee or receiver
to take possession of substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease,
where possession is not restored to Tenant within thirty (30) days; or (iv)the attachment, execution or other judicial seizure of all
or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, where such seizure
is not discharged within thirty (30) days; provided, however, in the event that any provision of this Section 13.1.5 is contrary
to any applicable law, such provision shall be of no force or effect; or

 

    -39-

     

    

 

13.1.6.     The
failure by Tenant to observe or perform according to the provisions of Articles 4, 7, 14, 17 or 18 of this Lease, or any breach
by Tenant of the representations and warranties set forth in Section 21.34 of this Lease, or the failure by Tenant to observe or
perform any other provision, covenant or condition of this Lease which failure, because of the character of such provision, covenant or
condition, would immediately jeopardize Landlord’s interest, in any case where such failure
continues for more than two (2) business days after notice from Landlord.

 

Any written notice
of an Event of Tenant’s Default sent by Landlord to Tenant shall be in lieu of, and not in
addition to, any termination notice required under applicable statutory or regulatory provisions (and no further notice shall be required
should Landlord elect to terminate this Lease as set forth below).

 

13.2         Landlord’s
Remedies. Upon the occurrence of any Event of Tenant’s
Default, Landlord shall have, in addition to any other remedies available to Landlord at law or in equity (all of which remedies shall
be distinct, separate and cumulative), the option to pursue any one or more of the following remedies, each and all of which shall be
cumulative and nonexclusive, without any notice or demand whatsoever:

 

13.2.1.     Terminate
this Lease, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without
prejudice to any other remedy which it may have for possession or arrearages in rent, enter upon and take possession of the Premises and
expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution
or any claim or damages therefor; and Landlord may recover from Tenant the following:

 

13.2.1.1       The
worth at the time of award of any unpaid rent which has been earned at the time of such termination; plus

 

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

 

13.2.1.3       The
worth at the time of award of the amount by which the unpaid rent for the balance of the Lease Term after the time of award exceeds the
amount of such rental loss that Tenant proves could have been reasonably avoided; plus

 

13.2.1.4       Any
other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s
failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, specifically
including but not limited to, brokerage commissions and advertising expenses incurred, expenses of remodeling the Premises or any portion
thereof for a new tenant, whether for the same or a different use, and any special concessions made to obtain a new tenant; and

 

13.2.1.5       At
Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may
be permitted from time to time by applicable law.

 

The term “rent” as
used in this Section 13.2 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant
to the terms of this Lease, whether to Landlord or to others. As used in Sections 13.2.1.1 and 13.2.1.2, above, the “worth
at the time of award” shall be computed by allowing interest at the Agreed Interest
Rate, but in no case greater than the maximum amount of such interest permitted by law. As used in Section 13.2.1.3 above,
the “worth at the time of award” shall be computed
by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent
(1%).

 

    -40-

     

    

 

13.2.2.      Landlord
shall have the remedy described in California Civil Code Section 1951.4 (lessor may continue lease in effect after lessee’s
breach and abandonment and recover rent as it becomes due, if lessee has the right to sublet or assign, subject only to reasonable limitations).
Accordingly, if Landlord does not elect to terminate this Lease on account of any Event of Tenant’s
Default, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies under this Lease, including
the right to recover all rent as it becomes due.

 

13.2.3.      Landlord
shall at all times have the rights and remedies (which shall be cumulative with each other and cumulative and in addition to those rights
and remedies available under Sections 13.2.1 and 13.2.2, above, or any law or other provision of this Lease), without prior demand
or notice except as required by applicable law, to seek any declaratory, injunctive or other equitable relief, and specifically enforce
this Lease, or restrain or enjoin a violation or breach of any provision hereof.

 

13.3         Subleases
of Tenant. If Landlord elects to terminate this Lease on account of any Event of Tenant’s
Default, as set forth in this Article 13, then Landlord shall have the right, at Landlord’s
option in its sole discretion (i) to terminate any and all assignments, subleases, licenses, concessions or other consensual arrangements
for possession entered into by Tenant and affecting the Premises, in which event Landlord shall have the right to repossess such affected
portions of the Premises by any lawful means, or (ii) to succeed to Tenant’s interest in
any or all such assignments, subleases, licenses, concessions or arrangements, in which event Landlord may require any assignees, sublessees,
licensees or other parties thereunder to attorn to and recognize Landlord as its assignor, sublessor, licensor, concessionaire or transferor
thereunder. In the event of Landlord’s election to succeed to Tenant’s
interest in any such assignments, subleases, licenses, concessions or arrangements, Tenant shall, as of the date of notice by Landlord
of such election, have no further right to or interest in the rent or other consideration receivable thereunder.

 

13.4         Efforts
to Relet. No re-entry or repossession, repairs, maintenance, changes, alterations and additions, reletting, appointment of a receiver
to protect Landlord’s interests hereunder, or any other action or omission by Landlord shall
be construed as an election by Landlord to terminate this Lease or Tenant’s right to possession,
or to accept a surrender of the Premises, nor shall same operate to release Tenant in whole or in part from any of Tenant’s
obligations hereunder, unless express written notice of such intention is sent by Landlord to Tenant. Tenant hereby irrevocably waives
any right otherwise available under any law to redeem or reinstate this Lease.

 

ARTICLE 14

ASSIGNMENT AND SUBLETTING

 

14.1         Transfers.
Tenant shall not do any of the following (collectively referred to herein as a “Transfer”,
and any person to whom any Transfer is made or sought to be made is hereinafter sometimes referred to as a “Transferee”),
whether voluntarily, involuntarily, by operation of law or otherwise without the prior written consent of Landlord, which consent
shall not be unreasonably withheld: (i) sublet all or any portion of the Premises; (ii) assign or permit any assignment of its
interest in this Lease; (iii) mortgage, pledge, hypothecate, encumber or permit any lien to attach to this Lease; (iv) enter into
any license or concession agreements or otherwise permit the use or occupancy of the Premises or any part thereof by any persons
other than Tenant and its employees or contractors; or (v) materially amend or modify an assignment, sublease or other transfer that
has been previously approved by Landlord. Tenant shall reimburse Landlord for all reasonable costs, including
attorneys’ fees, incurred by Landlord in connection with the evaluation, processing,
and/or documentation of any requested Transfer, whether or not Landlord’s consent to
such Transfer is granted (not to exceed $1,500.00), within thirty (30) days of receipt of demand therefor. Any Transfer approved by
Landlord pursuant to this Article 14 shall not become effective until Tenant has delivered to Landlord a fully-executed
version of the document evidencing such Transfer which document shall: (i) be in a form reasonably approved in advance by Landlord,
(ii) contain the same terms and conditions as stated in Tenant’s request for such
Transfer set forth above, and (iii) in the case of an assignment of the Lease, contain the agreement of the proposed Transferee to
assume all obligations of Tenant under this Lease arising after the effective date of such Transfer, and to remain jointly and
severally liable therefor with Tenant. Any attempted Transfer without Landlord’s prior
consent shall constitute an Event of Tenant’s Default and shall, at
Landlord’s option, be null, void and of no further force or effect.
Landlord’s consent to any one Transfer shall not constitute a waiver of the provisions
of this Section 14.1 as to any subsequent Transfer or a consent to any subsequent Transfer. No Transfer, whether made with or
without the consent of Landlord, shall relieve Tenant of its personal and primary obligation to pay the Rent due hereunder, or to
perform all of the other obligations to be performed by Tenant hereunder. The acceptance of any payment of Rent by Landlord from any
person or entity shall not be deemed to be a waiver by Landlord of any provision of this Lease or to be a consent to any
Transfer.

 

    -41-

     

    

 

14.2         Procedure.
At least thirty (30) days, but not more than one hundred eight (180) days, before a proposed Transfer is to become effective, Tenant shall
give Landlord written notice (a “Transfer Notice”)
of the proposed terms of such Transfer, which Transfer Notice shall include the following information: (i) the proposed effective date
of the Transfer; (ii) a description of the portion of the Premises to be transferred (the “Subject
Space”); (iii) the name and legal composition of the proposed Transferee; (iv) all of
the terms of the proposed Transfer and the consideration therefor, including calculation of the “Transfer
Premium”, as that term is defined in Section 14.4 below, in connection with such Transfer;
(v) current financial statements of the proposed Transferee certified by an officer, partner or owner thereof, covering the current year
and the preceding two (2) years if the same exist, all of which statements are prepared in accordance with generally accepted accounting
principles; (vi) the nature of the proposed Transferee’s business to be carried on in the
Premises; and (vii) an accurately filled out response to Landlord’s standard hazardous materials
questionnaire. In addition, Tenant shall promptly provide to Landlord such other information regarding the proposed Transfer and/or Transferee
as may be reasonably requested by Landlord. Landlord shall respond in writing to a Transfer Notice within thirty (30) days following Landlord’s
receipt of such notice and all required accompanying information and documentation. If Landlord fails to so timely respond to a Transfer
Notice, then Tenant shall provide a second (2nd) written notice to Landlord requesting Landlord’s
consent, and if Landlord fails to respond within seven (7) days after receipt of such second notice, then Landlord will be deemed to have
consented to the subject Transfer. Tenant shall immediately notify Landlord of any modification to the proposed terms of such Transfer,
which shall also be subject to Landlord’s consent in accordance with the terms and conditions
of this Article 14.

 

14.3         Landlord’s
Consent. Landlord shall not unreasonably withhold its consent to any proposed Transfer of the
Subject Space to the Transferee on the terms specified in the Transfer Notice. Without limitation as to other reasonable grounds for withholding
consent, the parties hereby agree that it shall be reasonable under this Lease and under any applicable Law for Landlord to withhold consent
to any proposed Transfer where one or more of the following apply:

 

14.3.1.      The
Transferee is of a character or reputation, or is engaged in a business, which is not consistent with the quality of the Building or the
Project, or would be a significantly less prestigious occupant of the Building than Tenant;

 

    -42-

     

    

 

14.3.2.      The
Transferee intends to use the Subject Space for purposes which are not permitted under this Lease, or for a use that is likely to be subject
to compliance with additional laws or other governmental requirements beyond those to which the Permitted Use is subject;

 

14.3.3.      The
Transferee is either a governmental agency or instrumentality thereof;

 

14.3.4.      The
Transferee is not a party of reasonable financial worth and/or financial stability in light of the responsibilities to be undertaken in
connection with the Transfer on the date consent is requested;

 

14.3.5.      The
proposed Transfer would cause a violation of another lease for space in the Project, or would give an occupant of the Project a right
to cancel its lease;

 

14.3.6.      Either
the proposed Transferee, or any person or entity which directly or indirectly, controls, is controlled by, or is under common control
with, the proposed Transferee, (i) occupies space in the Project at the time of the request for consent (provided, however, that Tenant
may assign or sublease space to an occupant of the Project to the extent Landlord cannot meet such occupant’s
space needs), or (ii) is negotiating or has negotiated with Landlord to lease space in the Project during the preceding six (6) months
(provided, however, that Tenant may assign or sublease space to a person or entity that Landlord is or has negotiated with to the extent
Landlord cannot meet such occupant’s space needs), or (iii) Landlord is currently meeting
with (or has previously met with at any time during the preceding six (6) months) the proposed Transferee. to tour space in the Project
(provided, however, that Tenant may assign or sublease space to a person or entity that Landlord is or has met with to the extent Landlord
cannot meet such occupant’s space needs);

 

14.3.7.      In
Landlord’s reasonable judgment, the use of the Premises by the proposed Transferee would
not be comparable to the types of uses by other tenants in the Project, would entail any alterations which would lessen the value of the
tenant improvements in the Premises, would result in more than a reasonable density of occupants per square foot of the Premises, would
increase the burden on elevators, telecommunications systems and equipment, or other Building Systems or equipment over the burden thereon
prior to the proposed Transfer, would require increased services by Landlord, or would increase the expenses associated with the operation,
maintenance and repair of the Building or the Project;

 

14.3.8.      The
Subject Space is irregular in shape with inadequate means of ingress or egress;

 

14.3.9.      The
proposed Transferee will use, store or dispose of Hazardous Materials in or about the Premises of a type, nature or quantity not acceptable
to Landlord in Landlord’s sole discretion; or

 

14.3.10.    Any
part of the rent payable under the proposed Transfer shall be based in whole or in part on the income or profits derived from the Subject
Space or if any proposed Transfer shall potentially have any adverse effect on the real estate investment trust qualification requirements
applicable to Landlord and its affiliates.

 

If Landlord
consents to any Transfer pursuant to the terms of this Section 14.3 (and does not exercise any recapture rights Landlord may
have under Section 14.5 of this Lease), Tenant may within six (6) months after Landlord’s
consent, but not later than the expiration of said six (6)-month period, enter into such Transfer of the Premises or portion
thereof, upon substantially the same terms and conditions as are set forth in the Transfer Notice furnished by Tenant to Landlord
pursuant to Section 14.2 of this Lease, provided that if there are any changes in the terms and conditions from those
specified in the Transfer Notice (i) such that Landlord would initially have been entitled to refuse its consent to such Transfer
under this Section 14.3, or (ii) which would cause the proposed Transfer to be more favorable to the Transferee than the
terms set forth in Tenant’s original Transfer Notice, Tenant shall again submit the
Transfer to Landlord for its approval and other action under this Article 14 (including Landlord’s
right of recapture, if any, under Section 14.5 of this Lease). Notwithstanding anything to the contrary in this Lease, if
Tenant or any proposed Transferee claims that Landlord has unreasonably withheld or delayed its consent under Section 14.3 or
otherwise has breached or acted unreasonably under this Article 14, their sole remedies shall be a declaratory judgment and
an injunction for the relief sought, and Tenant hereby waives the provisions of Section 1995.310 of the California Civil Code, or
any successor statute, and all other remedies, including, without limitation, any right at law or equity to terminate this Lease, on
its own behalf and, to the extent permitted under all applicable laws, on behalf of the proposed Transferee. Tenant shall indemnify,
defend and hold harmless Landlord from any and all liability, losses, claims, damages, costs, expenses, causes of action and
proceedings involving Tenant’s proposed subtenant or assignee who claims they were
damaged by Landlord’s wrongful withholding or conditioning of
Landlord’s consent.

 

    -43-

     

    

 

14.4       Transfer
Premium. If Landlord consents to a Transfer, as a condition thereto which the parties hereby agree is reasonable, Tenant shall pay
to Landlord fifty percent (50%) of any “Transfer Premium,” as
that term is defined in this Section 14.4, received by Tenant from such Transferee. “Transfer
Premium” shall mean all rent, additional rent or other consideration payable by such
Transferee in connection with the Transfer in excess of the Base Monthly Rent and Additional Rent payable by Tenant under this Lease during
the term of the Transfer on a per rentable square foot basis if less than all of the Premises is transferred, after deducting the reasonable
expenses incurred by Tenant for (i) any changes, alterations and improvements to the Premises in connection with the Transfer, (ii) any
free base rent reasonably provided to the Transferee in connection with the Transfer (provided that such free rent shall be deducted only
to the extent the same is included in the calculation of total consideration payable by such Transferee), and (iii) any brokerage commissions
in connection with the Transfer and (iv) legal fees reasonably incurred in connection with the Transfer (collectively, “Tenant’s
Subleasing Costs”). ‘‘Transfer Premium”
shall also include, but not be limited to, key money, bonus money or other cash consideration paid by
Transferee to Tenant in connection with such Transfer, and any payment in excess of fair market value for services rendered by Tenant
to Transferee or for assets, fixtures, inventory, equipment, or furniture transferred by Tenant to Transferee in connection with such
Transfer. Landlord shall make a determination of the amount of Landlord’s applicable share
of the Transfer Premium on a monthly basis as rent or other consideration is paid by Transferee to Tenant under the Transfer. For purposes
of calculating the Transfer Premium on a monthly basis, Tenant’s Subleasing Costs shall be
deemed to be expended by Tenant in equal monthly amounts over the entire term of the Transfer.

 

14.5       Landlord’s
Recapture of the Subject Space. Notwithstanding anything to the contrary contained in this
Article 14, Landlord shall have the right, upon written notice to Tenant within thirty (30) days following receipt of any Transfer
Notice, to (i) recapture the Subject Space, or (ii) take an assignment or sublease of the Subject Space from Tenant. Such recapture or
sublease or assignment notice, shall cancel and terminate this Lease, or create a sublease or assignment, as the case may be, with respect
to the Subject Space as of the date stated in the Transfer Notice as the effective date of the proposed Transfer. In the event of a recapture
by Landlord, if this Lease shall be canceled with respect to less than the entire Premises, then (i) the Rent reserved herein shall be
prorated on the basis of the number of rentable square feet retained by Tenant in proportion to the number of rentable square feet contained
in the Premises; (ii) this Lease as so amended shall continue thereafter in full force and effect, and upon request of either party, the
parties shall execute written confirmation of the same; and (iii) Landlord shall construct or cause to be constructed a demising wall
separating that portion of the Premises recaptured by Landlord from that portion of the Premises retained by Tenant; provided that, Tenant
hereby agrees that, notwithstanding Tenant’s
occupancy of its retained portion of the Premises during the construction of such demising wall by Landlord, Landlord shall be permitted
to construct such demising wall during normal business hours, without any obligation to pay overtime or other premiums, and the construction
of such demising wall by Landlord shall in no way constitute a constructive eviction of Tenant nor entitle Tenant to any abatement of
Rent, and Landlord shall have no responsibility or for any reason be liable to Tenant for any direct or indirect injury to or interference
with Tenant’s business arising from the construction of such demising wall, nor shall Tenant
be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of its retained portion of the Premises
or of Tenant’s personal property or improvements resulting from the construction of such
demising wall, or for any inconvenience or annoyance occasioned by the construction of such demising wall; and provided further that,
Tenant shall be responsible for, and shall pay to Landlord promptly upon being billed therefor, fifty percent (50%) of all costs related
to the construction of such demising wall, including Landlord’s standard fee for its involvement
with such demising wall. If Landlord declines, or fails to elect in a timely manner, to recapture, sublease or take an assignment of the
Subject Space under this Section 14.5, then, provided Landlord has consented to the proposed Transfer, Tenant shall be entitled
to proceed to transfer the Subject Space to the proposed Transferee, subject to provisions of this Article 14.

 

    -44-

     

    

 

14.6       Effect
of Transfer. If Landlord consents to a Transfer, then (i) the terms and conditions of this Lease shall in no way be deemed to
have been waived or modified; (ii) such consent shall not be deemed consent to any further Transfer by either Tenant or a
Transferee; (iii) Tenant shall deliver to Landlord, promptly after execution, an original executed copy of all documentation
pertaining to the Transfer in form and content reasonably acceptable to Landlord, including, without limitation, at
Landlord’s option, a “Transfer
Agreement,” as that term is defined below; (iv) Tenant shall furnish upon
Landlord’s request a complete statement, certified by an independent certified public
accountant, or Tenant’s chief financial officer, setting forth in detail the
computation of any Transfer Premium Tenant has derived and shall derive from such Transfer; and (v) no Transfer relating to this
Lease or agreement entered into with respect thereto, whether with or without Landlord’s
consent, shall relieve Tenant or any guarantor of the Lease from any liability under this Lease, including, without limitation, in
connection with the Subject Space, and, in the event of a Transfer of Tenant’s entire
interest in this Lease, the liability of Tenant and such Transferee shall be joint and several. Landlord or its authorized
representatives shall have the right at all reasonable times to audit the books, records and papers of Tenant relating to any
Transfer, and shall have the right to make copies thereof. If the Transfer Premium respecting any Transfer shall be found
understated, Tenant shall, within thirty (30) days after demand, pay the deficiency, and if understated by more than two percent
(2%), Tenant shall pay Landlord’s costs of such audit. Notwithstanding anything to the
contrary contained in this Article 14, Landlord, at its option in its sole and absolute discretion, may require, as a
condition to the validity of any Transfer, that both Tenant and such Transferee enter into a separate written agreement directly
with Landlord (a “Transfer Agreement”),
which Transfer Agreement, among other things, shall create privity of contract between Landlord and such Transferee with respect to
the provisions of this Article 14, and shall contain such terms and provisions as Landlord may reasonably require, including,
without limitation, the following: (A) such Transferee’s agreement to be bound by all
the obligations of Tenant under this Lease (including, but not limited to, Tenant’s
obligation to pay Rent), provided that, in the event of a Transfer of less than the entire Premises, the obligations to which such
Transferee shall agree to be so bound shall be prorated on a basis of the number of rentable square feet of the Subject Space in
proportion to the number of square feet in the Premises; (B) such Transferee’s
acknowledgment of, and agreement that such Transfer shall be subordinate and subject to, Landlord’s
rights under Section 13.3 of this Lease; and (C) Tenant’s and such
Transferee’s recognition of and agreement to be bound by all the terms and provisions
of this Article 14, including, but not limited to, any such terms and provisions which Landlord, at its option, requires to
be expressly set forth in such Transfer Agreement. Upon the occurrence of any default by Transferee under such Transfer, Landlord
shall have the right, at its option, but not the obligation, on behalf of Tenant, to pursue any or all of the remedies available to
Tenant under such Transfer or at law or in equity (all of which remedies shall be distinct, separate and cumulative).

 

    -45-

     

    

 

14.7       Occurrence
of Default. Any Transfer hereunder, whether or not such Transferee shall have executed a Transfer Agreement, shall be
subordinate and subject to the provisions of this Lease, and if this Lease shall be terminated during the term of any Transfer, then
Landlord shall have all of the rights set forth in Section 13.3 of this Lease with respect to such Transfer. In addition, if
Tenant shall be in default under this Lease, then Landlord is hereby irrevocably authorized, as Tenant’s
agent and attorney- in-fact, to direct any Transferee to make all payments under or in connection with a Transfer directly to
Landlord (which payments Landlord shall apply towards Tenant’s obligations under this
Lease) until such default is cured. Such Transferee shall rely on any representation by Landlord that Tenant is in default
hereunder, without any need for confirmation thereof by Tenant. Upon any assignment, the assignee shall assume in writing all
obligations and covenants of Tenant thereafter to be performed or observed under this Lease. No collection or acceptance of rent by
Landlord from any Transferee shall be deemed a waiver of any provision of this Article 14 or the approval of any Transferee
or a release of Tenant from any obligation under this Lease, whether theretofore or thereafter accruing. In no event shall
Landlord’s enforcement of any provision of this Lease against any Transferee be deemed
a waiver of Landlord’s right to enforce any term of this Lease against Tenant or any
other person. If Tenant’s obligations hereunder have been guaranteed, Landlords consent
to any Transfer shall not be effective unless the guarantor also consents to such Transfer.

 

14.8       Deemed
Transfers. For purposes of this Lease, the term “Transfer” shall
include any of the following, whether voluntary or involuntary and whether effected by death, operation of law or otherwise:

 

14.8.1.       If
Tenant is a partnership or limited liability company:

 

14.8.1.1       The
withdrawal or change, voluntarily, involuntarily, or by operation of law, of fifty percent (50%) or more of the partners, officers or
members, as applicable, or the transfer of fifty percent (50%) or more of the partnership, ownership or membership interests (as applicable),
whether in a single transaction or series of transactions within a twelve (12) month period; or

 

14.8.1.2       The
sale, mortgage, hypothecation, pledge or other encumbrance at any time of an aggregate of fifty percent (50%) or more of the value of
the unencumbered assets of Tenant within a twelve (12) month period; or

 

14.8.1.3       The
dissolution of the partnership or limited liability company without immediate reconstitution thereof.

 

14.8.2.       If
Tenant is a closely held corporation (i.e., one whose stock is not publicly held and not traded through an exchange or over the counter):

 

14.8.2.1       The
sale or other transfer of an aggregate of fifty percent (50%) or more of the voting shares of Tenant (other than to immediate family members
or by reason of gift or death) within a twelve (12) month period;

 

14.8.2.2       The
sale, mortgage, hypothecation, pledge or other encumbrance of an aggregate of fifty percent (50%) or more of the value of the unencumbered
assets of Tenant within a twelve (12) month period; or

 

    -46-

     

    

 

14.8.2.3       The
dissolution, merger, consolidation, or other reorganization of Tenant,

 

14.9       Permitted
Transfers. Notwithstanding anything contained in Section 14.1. Tenant shall have the right, without Landlord’s
prior consent, to Transfer the Lease an Affiliate, as defined below, of Tenant, so as long as the following conditions are met and Tenant
otherwise complies with the other provisions of Section 14.1 (each such Transfer shall be referred to as a “Permitted
Transfer”, and any person to whom any Permitted Transfer is made or sought to be made
is hereinafter sometimes referred to as a “Permitted Transferee”):

 

14.9.1.1       At
least ten (10) business days before the Permitted Transfer, Tenant shall deliver to Landlord written notice of the Permitted Transfer
(as well as any documents or information reasonably requested by Landlord regarding the Permitted Transfer or Permitted Transferee);

 

14.9.1.2       The
Permitted Transfer is not a subterfuge by Tenant to avoid its obligations under this Lease or this Article 14;

 

14.9.1.3       If
the Permitted Transfer is an assignment, the Permitted Transferee assumes in writing all of Tenant’s
obligations under this Lease relating to the Leased Premises; and

 

14.9.1.4       The
Permitted Transferee has a tangible net worth, as evidenced by financial statements delivered to Landlord and certified by an independent
certified public accountant in accordance with generally accepted accounting principles that are consistently applied (“Net
Worth”), at least equal to Tenant’s Net
Worth either immediately before the Transfer or as of the date of this Lease, whichever is greater.

 

For purposes hereof,
the term “Affiliate” means any entity
that controls, is controlled by, or is under common control with Tenant. An assignee of Tenant’s
entire interest in this Lease who qualifies as a Permitted Transferee may also be referred to herein as a “Permitted
Assignee.” “Control” means
the direct or indirect ownership of more than fifty percent (50%) of the voting securities of an entity or possession of the right to
vote more than fifty percent (50%) of the voting interest in the ordinary direction of the entity’s
affairs. Landlord shall not be entitled to terminate the Lease pursuant to Section 14.5 due to a Permitted Transfer or to receive
any part of any Transfer Premium resulting from a Permitted Transfer that would otherwise be due it pursuant to Section 14.4.

 

14.10       Reasonable
Restriction. The restrictions on Transfer described in this Lease are acknowledged by Tenant to be reasonable for all purposes, including,
without limitation, the provisions of California Civil Code Section 1951.4(b)(2). Tenant expressly waives any rights which it might otherwise
be deemed to possess pursuant to applicable law, including, without limitation, California Civil Code Section 1997.040, to limit any
remedy of Landlord pursuant to California Civil Code Section 1951.2 or 1951.4 by means of proof
that enforcement of a restriction on use of the Premises would be unreasonable.

 

    -47-

     

    

 

ARTICLE 15

SURRENDER OF PREMISES

 

15.1       Generally.
Upon the expiration or sooner termination of this Lease, Tenant shall vacate and surrender the Premises to Landlord in as good condition
and repair as existed upon Landlord’s delivery of the Premises to Tenant, reasonable wear
and tear and repairs which are specifically made the responsibility of Landlord hereunder excepted. Notwithstanding the foregoing, prior
to Tenant’s surrender of the Premises to Landlord, at the expiration or earlier termination
of this Lease, Tenant shall, at its sole cost and expense, cause the following to be done: (i) all interior walls shall be painted or

cleaned, as necessary; (ii) all tiled
floors shall be cleaned; (iii) all carpets shall be cleaned and shampooed; (iv) all broken, marred, stained or nonconforming acoustical
ceiling tiles shall be replaced; (v) all debris, rubbish, such items of furniture, equipment, business and trade fixtures, free-standing
cabinet work, movable partitions and other articles of personal property owned by Tenant or installed or placed by Tenant at its expense
in the Premises shall be removed; and (vi) the plumbing and electrical systems and lighting shall be placed in good order and repair (including
replacement of any burned out, discolored or broken light bulbs, ballasts, or lenses). In addition, at Landlord’s
request, Tenant shall, prior to Tenant’s surrender of the Premises to Landlord, (i) remove
any Alterations which Tenant is required to remove pursuant to Section 5.5 and repair all damage caused by such removal, and (ii)
return the Premises or any part thereof to its original configuration existing as of the time the Premises were delivered by Landlord
to Tenant.

 

15.2       Environmental
Assessment. In connection with its surrender of the Premises, Tenant shall submit to Landlord an environmental assessment pursuant
to the terms of Section 7.1.8, above. If such environmental assessment reveals that remediation or clean-up is required under any
Hazardous Materials Laws as a result of the Hazardous Materials Usage by Tenant or Tenant’s
Agents, Tenant shall submit a remediation plan prepared by a recognized environmental consultant and shall be responsible for all costs
of remediation and clean-up, as provided in Section 7.1, above.

 

ARTICLE 16

HOLDING OVER

 

If Tenant holds
over in the Premises or any part thereof after the expiration or earlier termination of this Lease, such tenancy shall not constitute
a renewal or extension of the Lease and shall be construed to be a tenancy from month to month on the same terms and conditions contained
herein, except that Base Monthly Rent shall be payable at an amount equal to (i) one hundred twenty-five percent (125%) of the Base Monthly
Rent payable during the last full calendar month of the Lease Term for the first three (3) months of such holdover, and (ii) one hundred
fifty percent (150%) thereafter. Nothing contained in this Article 16 shall be construed as consent by Landlord to any holding
over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided
in this Lease upon the expiration or other termination of this Lease. The provisions of this Article 16 shall not be deemed to
limit or constitute a waiver of any other rights or remedies of Landlord provided under this Lease or at law. If Tenant holds over without
Landlord’s express written consent, and tenders payment of rent for any period beyond the
expiration or earlier termination of the Lease Term by way of check (whether directly to Landlord, its agents, or to a lock box) or wire
transfer, Tenant acknowledges and agrees that the cashing of such check or acceptance of such wire shall be considered inadvertent and
not be construed as creating a month-to-month tenancy, provide Landlord refunds such payment to Tenant promptly upon learning that such
check has been cashed or wire transfer received. Additionally, in the event that upon the expiration or earlier termination of the Lease,
Tenant has not fulfilled its obligation with respect to repairs and cleanup of the Premises or any other Tenant obligations as set forth
in this Lease, then Landlord shall have the right to perform any such obligations as it deems necessary at Tenant’s
sole cost and expense, and any time required by Landlord to complete such obligations shall be considered a period of holding over and
the terms of this Article 16 shall apply. Tenant acknowledges that any holding over in the Premises by Tenant without Landlord’s
express written consent may compromise or otherwise affect Landlord’s ability to enter into
new leases with prospective tenants regarding the Premises. Therefore, if Tenant fails to vacate and deliver the Premises to Landlord
upon the expiration or earlier termination of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant
shall protect, defend, indemnify and hold Landlord harmless from and against any and all claims and liability resulting from such failure,
including, without limiting the generality of the foregoing, any claims made by any succeeding tenant founded upon such failure to vacate
and deliver, and any losses suffered by Landlord, including lost profits, resulting therefrom. Tenant agrees that any proceedings necessary to recover possession
of the Premises from Tenant, whether before or after the expiration or earlier termination of this Lease, shall be considered an action
to enforce the terms of this Lease for purposes of die awarding of any attorneys’ fees in
connection therewith.

 

    -48-

     

    

 

ARTICLE 17

ESTOPPEL CERTIFICATES AND FINANCIAL STATEMENTS

 

At all times during
the Lease Term, Tenant shall, within fifteen (15) days following any request by Landlord, execute and deliver to Landlord an estoppel
certificate in the form attached hereto as Exhibit E (“Estoppel Certificate”).
Tenant’s failure to timely deliver an executed Estoppel Certificate within said fifteen (15)
day period shall constitute an acknowledgement by Tenant that the statements included in the Estoppel Certificate are true and correct
without exception. At any time during the Lease Term, Landlord may require Tenant to provide Landlord with Tenant’s
current financial statement and the financial statements covering the two (2) year period prior to the date of such current financial
statement. Such statements shall be prepared in accordance with generally accepted accounting principles and, if such is the normal practice
of Tenant, shall be audited by an independent certified public accountant. Landlord agrees that such financial information is confidential
and shall only be used for purposes of a sale or financing of the Building or Project or any interest in Landlord. Tenant hereby authorizes
Landlord to obtain one or more credit reports on Tenant at any time, and shall execute such further authorizations as Landlord may reasonably
require in order to obtain a credit report.

 

ARTICLE 18

SUBORDINATION

 

18.1       Subordination.
This Lease shall be subject and subordinate to all present and future ground or underlying leases of the Building or Project and to the
lien of any mortgage, trust deed or other encumbrances now or hereafter in force against the Building or Project or any part thereof,
if any, and to all renewals, extensions, modifications, consolidations and replacements thereof, and to all advances made or hereafter
to be made upon the security of such mortgages or trust deeds (collectively, “Security
Instruments”), unless the holders of such Security Instruments require in writing that
this Lease be superior thereto. This clause shall be self operative and no further instrument of subordination need be required by any
owner or holder of any Security Instrument; provided, however, that at Landlord’s request,
Tenant shall promptly execute any appropriate certificate or instrument that Landlord may request in confirmation thereof, and Tenant
hereby constitutes and appoints Landlord as Tenant’s attorney-in-fact to execute any such
certificate or instrument for and on behalf of Tenant. In the event any proceedings are brought for the foreclosure of any such Security
Instrument, Tenant covenants and agrees to attorn, without any deductions or set-offs whatsoever, to the lienholder or purchaser or any
successors thereto upon any such foreclosure sale or deed in lieu thereof (or to the ground lessor), if so requested to do so by such
purchaser or lienholder or ground lessor, and to recognize such purchaser or lienholder or ground lessor as the lessor under this Lease,
provided such lienholder or purchaser or ground lessor shall agree to accept this Lease and not disturb Tenant’s
occupancy, so long as Tenant timely pays the rent and observes and performs the terms, covenants and conditions of this Lease to be observed
and performed by Tenant. Landlord’s interest herein may be assigned as security at any time
to any lienholder. Tenant shall, within ten (10) days of request by Landlord, execute such further instruments or assurances as Landlord
may reasonably deem necessary to evidence or confirm the subordination or superiority of this Lease to any such Security Instrument. Tenant
waives the provisions of any current or future statute, rule or law which may give or purport to give Tenant any right or election to
terminate or otherwise adversely affect this Lease and the obligations of the Tenant hereunder in the event of any foreclosure proceeding
or sale. This Lease is further subject to and subordinate to all matters of record.

 

    -49-

     

    

 

18.2       Notice
to Lienholder or Ground Lessor. Notwithstanding anything to the contrary contained in Section 18.3, below, or elsewhere in
this Lease, upon receipt by Tenant of written notice from any holder of a Security Instrument in force against the Building or the Project
or any part thereof which includes the Premises or any lessor under a ground lease or underlying lease of the Building or the Project,
or from Landlord, which notice sets forth the address of such lienholder or ground lessor, no notice from Tenant to Landlord shall be
effective unless and until a copy of the same is given to such lienholder or ground lessor at the appropriate address therefor (as specified
in the above-described notice or at such other places as may be designated from time to time in a notice to Tenant in accordance with
Section 18.3. below), and the curing of any of Landlord’s defaults by such lienholder
or ground lessor within a reasonable period of time after such notice from Tenant (including a reasonable period of time to obtain possession
of the Building or the Project, as the case may be, if such lienholder or ground lessor elects to do so) shall be treated as performance
by Landlord.

 

18.3       Assignment
of Rents. With reference to any assignment by Landlord of Landlord’s interest in this
Lease, or the Rent payable to Landlord hereunder, conditional in nature or otherwise, which assignment is made to any holder of
a Security Instrument in force against the Building or the Project or any part thereof which includes the Premises or to any lessor under
a ground lease or underlying lease of the Building or the Project, Tenant agrees as follows:

 

18.3.1.       The
execution of any such assignment by Landlord, and the acceptance thereof by such lienholder or ground lessor, shall never be treated as
an assumption by such lienholder or ground lessor of any of the obligations of Landlord under this Lease, unless such lienholder or ground
lessor shall, by notice to Tenant, specifically otherwise elect.

 

18.3.2.       Notwithstanding
delivery to Tenant of the notice required by Section 18.3.1, above, such lienholder or ground lessor, respectively, shall be treated
as having assumed Landlord’s obligations under this Lease only upon such lienholder’s
foreclosure of any such mortgage, trust deed or other encumbrance, or acceptance of a deed in lieu thereof, and taking of possession of
the Building or the Project or applicable portion thereof, or such ground lessor’s termination
of any such ground lease or underlying leases and assumption of Landlord’s position hereunder,
as the case may be. In no event shall such lienholder, ground lessor or any other successor to Landlord’s
interest in this Lease, as the case may be, be liable for any security deposit paid by Tenant to Landlord, unless and until such lienholder,
ground lessor or other such successor, respectively, actually has been credited with or has received for its own account as landlord the
amount of such security deposit or any portion thereof (in which event the liability of such lienholder, ground lessor or other such successor,
as the case may be, shall be limited to the amount actually credited or received).

 

18.3.3.       In
no event shall the acquisition of title to the Building and the land upon which the Building is located or the Project or any part thereof
which includes the Premises by a purchaser which, simultaneously therewith, leases back to the seller thereof the entire Building or the
land upon which the Building is located or the Project or the entirety of that part thereof acquired by such purchaser, as the case may
be, be treated as an assumption, by operation of law or otherwise, of Landlord’s obligations
under this Lease, but Tenant shall look solely to such seller-lessee, or to the successors to or assigns of such seller-lessee’s
estate, for performance of Landlord’s obligations under this Lease. In any such event, this
Lease shall be subject and subordinate to the lease to such seller-lessee, and Tenant covenants and agrees in the event the lease to such
seller-lessee is terminated to attorn, without any deductions or set-offs whatsoever, to such purchaser-lessor, if so requested to do
so by such purchaser-lessor, and to recognize such purchaser-lessor as the lessor under this Lease, provided such purchaser-lessor shall
agree to accept this Lease and not disturb Tenant’s occupancy, so long as Tenant timely pays
the rent and observes and performs the terms, covenants and conditions of this Lease to be observed and performed by Tenant. For all purposes,
such seller-lessee, or the successors to or assigns of such seller-lessee’s
estate, shall be the lessor under this Lease unless and until such seller-lessee’s position
shall have been assumed by such purchaser-lessor.

 

    -50-

     

    

 

ARTICLE 19

PARKING

 

During the Lease
Term, Tenant shall have the right to use the number of unreserved parking passes set forth in Section H of the Summary in the parking
facility for the Project at the then prevailing rates charged from time to time by Landlord for such parking passes. Notwithstanding anything
set forth in this Article 19 to the contrary, Tenant shall be responsible for the full amount of any taxes imposed by any governmental
authority in connection with the use of the parking facility by Tenant. Tenant shall not at any time park or permit the parking of its
vehicles in any portion of the Project not designated by Landlord for non-exclusive parking. Tenant shall not have the exclusive right
to park in any particular area of the parking facility for the Project, and if Landlord grants to any other tenant the exclusive right
to park in any particular area of the parking facility for the Project, Tenant shall not park in such area. Tenant’s
continued right to use the parking passes allocated to it pursuant to this Lease is conditioned upon Tenant abiding by all rules and regulations
which are prescribed from time to time for the orderly operation and use of the parking facility, including any sticker or other identification
system established by Landlord, Tenant’s cooperation in seeing that Tenant’s
employees and visitors also comply with such rules and regulations, and Tenant not being in default under this Lease beyond the expiration
of any applicable notice and cure periods expressly set forth in this Lease. Landlord shall have the right to have any vehicles owned
by Tenant or Tenant’s Agents which are parked at the Project in violation of any applicable
rules or regulations to be towed away at Tenant’s cost. Tenant’s
use of the Project parking facility shall be at Tenant’s sole risk and Tenant acknowledges
and agrees that Landlord shall have no liability whatsoever for damage to the vehicles of Tenant, its employees and/or visitors, or for
other personal injury or property damage or theft relating to or connected with the parking rights granted herein or any of Tenant’s,
its employees’ and/or visitors’ use of the parking
facilities. Tenant shall not use, and shall ensure that its employees, invitees and visitors shall not use, the Project parking facility
for the storage (including overnight parking) and/or repair of any automobiles. All delivery trucks and vehicles shall be (i) parked at
the rear of the Building, (ii) loaded and unloaded in a timely manner which does not interfere with the use of the Building or Project
by other tenants and occupants of the Building or Project, and (iii) permitted to remain at the Project only so long as is reasonably
necessary to complete loading and unloading. Landlord specifically reserves the right to change the size, configuration, design, layout
and all other aspects of the Project parking facility at any time and Tenant acknowledges and agrees that Landlord may, without incurring
any liability to Tenant and without any abatement of Rent under this Lease, from time to time, close-off or restrict access to the Project
parking facility for purposes of permitting or facilitating any such construction, alteration or improvements. Landlord may delegate its
responsibilities hereunder to a parking operator in which case such parking operator shall have all the rights of control attributed hereby
to the Landlord. The parking passes provided to Tenant pursuant to this Article 19 are provided to Tenant solely for use by Tenant’s
own personnel and such use may not be transferred, assigned, subleased or otherwise alienated by Tenant without Landlord’s
prior approval.

 

ARTICLE 20

SIGNS

 

20.1       Identification
Signage. Subject to Landlord’s prior written approval, in its sole discretion, and provided
all signs are in keeping with the quality, design and style of the Building and Project, Tenant, at its sole cost and expense, may install
identification signage anywhere in the Premises including in the lobby of the Premises, provided that such signs must not be visible from
the exterior of the Building.

 

    -51-

     

    

 

20.2       Intentionally
Omitted.

 

20.3       Prohibited
Signage and Other Items. Any signs, notices, logos, pictures, names or advertisements which are installed and that have not been separately
approved by Landlord may be removed without notice by Landlord at the sole expense of Tenant. Tenant may not install any signs on the
exterior or roof of the Building or in the Common Areas. Any signs, window coverings, or blinds (even if the same are located behind the
Landlord-approved window coverings for the Building), or other items visible from the exterior of the Premises or Building, shall be subject
to the prior approval of Landlord, in its sole discretion.

 

20.4       Tenant
Signage. Provided that (i) Tenant is not then in default of this Lease and has not previously been in default of this Lease, and (ii)
the Original Tenant or its Permitted Assignee then occupies the entire Premises, the Original Tenant and its Permitted Assignees shall
have the nonexclusive right, at Tenant’s sole cost and expense, to install (i) identification
signage on one (1) strip of the existing monument sign (the “Monument Sign”),
and (ii) one (1) eyebrow sign on that portion of the exterior of the Building located immediately above the main entrance to the Premises
(the “Eyebrow Sign”). The Monument
Sign shall be located on the monument at a location determined by Landlord. The exact location of the Eyebrow Sign shall be designated
by Landlord, in Landlord’s sole discretion. The Monument Sign and the Eyebrow Sign are together
referred to herein as the “Tenant Signage.” The
name set forth on the Tenant Signage shall in no event be an “Objectionable Name”
(as that term is defined below). Tenant shall be responsible for all costs incurred in connection with
the design, construction and installation of the Tenant Signage. Notwithstanding anything contained herein to the contrary, the graphics,
materials, color, design, lettering, size, quality and specifications of the Tenant Signage shall be subject to the prior written approval
of Landlord, in Landlord’s sole discretion, shall be consistent with the exterior building
signage of the other tenants of the Project (if any), and shall also comply with and be subject to all applicable laws, statutes, ordinances,
rules, regulations, permits, approvals, and all covenants, conditions or restrictions of record, including, but not limited to, all requirements
of the City of Fremont (the “City”) (or
other applicable governmental authorities); provided, however, that in no event shall the approval by the City (or other applicable governmental
authority) of either the Monument Sign or the Eyebrow Sign be deemed a condition precedent to the effectiveness of this Lease. Tenant
shall be responsible, at its sole cost and expense, for the maintenance and repair and compliance with the requirements of the Tenant
Signage. Upon the expiration or earlier termination of this Lease (or upon any earlier termination of Tenant’s
rights hereunder), Tenant shall be responsible, at Tenant’s sole cost and expense, for the
removal of all of the Tenant Signage and the repair of any damage resulting therefrom to the satisfaction of Landlord, including, without
limitation, repairing and/or replacing any landscaping harmed by such removal. The rights contained in this Section 20.4 shall
be personal to the Original Tenant and may only be exercised by the Original Tenant and its Permitted Assignees (and not any assignee,
sublessee or other transferee of Tenant’s interest in this Lease) if the Original Tenant
occupies the entire Premises. The term “Objectionable Name” shall
mean any name or logo which relates to an entity which is of a character or reputation, or is associated with a political orientation
or faction, which is inconsistent with the quality of the Building, or which would otherwise reasonably offend a landlord of comparable
buildings in the vicinity of the Building.

 

    -52-

     

    

 

ARTICLE 21

GENERAL PROVISIONS

 

21.1       Landlord’s
Right to Cure Default; Payments by Tenant. All covenants and agreements to be kept or
performed by Tenant under this Lease shall be performed by Tenant at Tenant’s sole cost
and expense and without any reduction of Rent, except to the extent, if any, otherwise expressly provided herein. If Tenant shall
fail to perform any obligation under this Lease, and such failure shall continue in excess of the time allowed under Section
13.1.2, above, unless a specific time period is otherwise stated in this Lease, Landlord may, but shall not be obligated to,
make any such payment or perform any such act on Tenant’s part without waiving its
rights based upon any default of Tenant and without releasing Tenant from any obligations hereunder. Except as may be specifically
provided to the contrary in this Lease, Tenant shall pay to Landlord the following sums (which sums shall bear interest at the
Agreed Interest Rate from the date accrued by Landlord until paid by Tenant, but in no case greater than the maximum amount of such
interest permitted by law), upon delivery by Landlord to Tenant of statements therefor: (i) sums equal to expenditures reasonably
made and obligations incurred by Landlord in connection with the remedying by Landlord of Tenant’s
defaults pursuant to the provisions of this Section 21.1; (ii) sums equal to all losses, costs, liabilities, damages and
expenses referred to in Article 10 of this Lease; and (iii) sums equal to all expenditures made and obligations incurred by
Landlord in collecting or attempting to collect the Rent or in enforcing or attempting to enforce any rights of Landlord under this
Lease or pursuant to law, including, without limitation, all legal fees and other amounts so expended. Tenant’s
obligations under this Section 21.1 shall survive the expiration or sooner termination of this Lease.

 

21.2       Landlord’s
Right to Enter. In addition to Landlord’s right
to enter the Premises pursuant to Section 6.2 of this Lease, Landlord and its agents reserve the right to enter the Premises at
all reasonable times upon prior reasonable notice to Tenant (which notice, notwithstanding anything to the contrary contained in Section
21.5 of this Lease, may be oral, and which notice shall not be required in the case of an emergency) for the purpose of: (i) inspecting
the same; (ii) posting notices of non-responsibility; (iii) supplying any service to be provided by Landlord to Tenant; (iv) showing the
Premises to prospective purchasers or tenants, or current or prospective mortgagees, ground or underlying lessors or insurers (provided
that for the purposes set forth in this subsection (iv); Landlord shall only enter the Premises upon at least twenty-four (24) hours prior
notice); (v) performing services required of Landlord, including janitorial service; (vi) performing Tenant’s
obligations when Tenant has failed to do so after written notice from Landlord; (vii) placing upon the Premises ordinary “for
lease” signs or “for sale” signs;
(viii) taking possession of the Premises due to any breach of this Lease in the manner provided herein; and (ix) responding to an emergency.
Landlord shall have the right to use any and all means Landlord may deem necessary and proper to enter the Premises in an emergency. Any
entry into the Premises obtained by Landlord in accordance with this Section 21.2 shall not be a forcible or unlawful entry into,
or a detainer of, the Premises, or an eviction, actual or constructive, of Tenant from the Premises, and Tenant hereby waives any claims
for damages or for any injuries or inconvenience to or interference with Tenant’s business,
lost profits, any loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned thereby.

 

21.3       Intentionally
Omitted.

 

21.4       Consent.
Whenever Landlord’s approval or consent is required by this Lease, such approval or consent
may be exercised in Landlord’s sole and absolute discretion, unless a different standard
has been expressly provided in this Lease for the particular matter requiring Landlord’s
consent or approval.

 

21.5       Notices.
Any notice, demand, designation, approval or other communications (collectively, “Notices”)
given or required to be given by either party to the other hereunder or by law shall be in writing and shall be (A) sent by United States
certified or registered mail, postage prepaid, return receipt requested (“Mail”),
(B) transmitted by telecopy, if such telecopy is promptly followed by a Notice sent by Mail, (C) delivered by a nationally recognized
overnight courier, or (D) delivered personally to the addresses specified in Section P or Section 0 of the Summary (as applicable).
Any Notice will be deemed given (i) three (3) days after the date it is posted if sent by Mail, (ii) the date the telecopy is transmitted,
(iii) the date the overnight courier delivery is made, or (iv) the date personal delivery is made, or, in all cases, if such date falls
on a Saturday, Sunday or bank holiday in the State of California, then the next business day. Any Notice
given by an attorney on behalf of Landlord or by Landlord’s managing agent shall be considered
as given by Landlord and shall be fully effective. Either party may change its address for Notices by giving Notice of the same in accordance
with this Section 21.5.

 

    -53-

     

    

 

21.6       Covenant
of Quiet Enjoyment. Landlord covenants that Tenant, on paying the Rent and on keeping, observing and performing all the other terms,
covenants, conditions, provisions and agreements herein contained on the part of Tenant to be kept, observed and performed, shall, during
the Lease Term, peaceably and quietly have, hold and enjoy the Premises subject to the terms, covenants, conditions, provisions and agreements
hereof without interference by any persons lawfully claiming by or through Landlord.

 

21.7       Terms;
Captions. The words “Landlord” and “Tenant”
as used herein shall include the plural as well as the singular. The necessary grammatical changes required
to make the provisions hereof apply either to corporations or partnerships or individuals, men or women, as the case may require, shall
in all cases be assumed as though in each case fully expressed. The terms “shall”,
“will” and “agree”
are mandatory. The term “may” is
permissive. The captions of Articles and Sections are for convenience only and shall not be deemed to limit, construe, affect or alter
the meaning of such Articles and Sections.

 

21.8       Binding
Effect. Subject to all other provisions of this Lease, each of the covenants, conditions and provisions of this Lease shall extend
to and shall, as the case may require, bind or inure to the benefit not only of Landlord and of Tenant, but also of their respective heirs,
personal representatives, successors or assigns, provided this clause shall not permit any assignment by Tenant contrary to the provisions
of Article 14 of this Lease.

 

21.9       No
Light, Air or View Rights. No rights to any view or to light or air over any property, whether belonging to Landlord or any other
person, are granted to Tenant by this Lease. Under no circumstances whatsoever at any time during the Lease Term shall any temporary darkening
of any windows of the Premises or any temporary obstruction of the light or view therefrom by reason of any repairs, improvements, maintenance
or cleaning in or about the Project, or any diminution, impairment or obstruction (whether partial or total) of light, air or view by
any structure which may be erected on any land comprising a part of, or located adjacent to or otherwise in the path of light, air or
view to, the Project, in any way impose any liability upon Landlord or in any way reduce or diminish Tenant’s
obligations under this Lease.

 

21.10       Modification
of Lease. Should any current or prospective mortgagee or ground lessor for the Building or Project require a modification of this
Lease, which modification will not cause an increased cost or expense to Tenant or in any other way materially and adversely change the
rights and obligations of Tenant hereunder, then and in such event, Tenant agrees that this Lease may be so modified and agrees to execute
whatever documents are reasonably required therefor and to deliver the same to Landlord within ten (10) business days following a request
therefor. At the request of Landlord or any mortgagee or ground lessor, Tenant agrees to execute a short form of Lease and deliver the
same to Landlord within ten (10) business days following the request therefor.

 

21.11       Transfer
of Landlord’s Interest. Tenant acknowledges
that Landlord has the right to transfer all or any portion of its interest in the Project or Building and in this Lease, and Tenant agrees
that in the event of any such transfer, Landlord shall automatically be released from all liability under this Lease and Tenant agrees
to look solely to such transferee for the performance of Landlord’s obligations hereunder
after the date of transfer and such transferee shall be deemed to have fully assumed and be liable for all obligations of this Lease to
be performed by Landlord, including the return of any Security Deposit, and Tenant shall attorn to such transferee.

 

    -54-

     

    

 

21.12       Prohibition
Against Recording. Except as provided in Section 21.10 of this Lease, neither this Lease, nor any memorandum, affidavit or
other writing with respect thereto, shall be recorded by Tenant or by anyone acting through, under or on behalf of Tenant.

 

21.13       Landlord’s
Title. Landlord’s title is and always shall be
paramount to the title of Tenant. Nothing herein contained shall empower Tenant to do any act which can, shall or may encumber the title
of Landlord.

 

21.14       Relationship
of Parties. Nothing contained in this Lease shall be deemed or construed by the parties hereto or by any third party to create the
relationship of principal and agent, partnership, joint venturer or any association between Landlord and Tenant.

 

21.15       Application
of Payments. Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant’s
designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion,
may elect.

 

21.16       Time
of Essence. Time is of the essence with respect to the performance of every provision of this Lease in which time of performance is
a factor, including, without limitation, the giving of any Notice required to be given under this Lease or by law, the time periods for
giving any such Notice and the taking of any action with respect to any such Notice.

 

21.17       Partial
Invalidity. If any term, provision or condition contained in this Lease shall, to any extent, be invalid or unenforceable, the remainder
of this Lease, or the application of such term, provision or condition to persons or circumstances other than those with respect to which
it is invalid or unenforceable, shall not be affected thereby, and each and every other term, provision and condition of this Lease shall
be valid and enforceable to the fullest extent possible permitted by law.

 

21.18       Right
to Lease. Landlord reserves the absolute right to effect such other tenancies in the Project as Landlord in the exercise of its sole
business judgment shall determine to best promote the interests of the Building or Project. Tenant does not rely on the fact, nor does
Landlord represent, that any specific tenant or type or number of tenants shall, during the Lease Term, occupy any space in the Building
or Project.

 

21.19       Attorneys’
Fees. In the event that either Landlord or Tenant should bring
any action or legal proceeding for an alleged breach of any provision of this Lease, to recover any sum due under this Lease, for possession
of the Premises, to terminate this Lease or otherwise to enforce, protect or establish any term or covenant of this Lease, the prevailing
party shall be entitled to recover as a part of such action or proceeding, or in a separate action brought for that purpose, all costs
and expenses incurred by such prevailing party, including, without limitation, reasonable attorneys’ fees,
court costs, and experts’ fees as may be fixed by the court.

 

21.20       Authority.
If Tenant is a corporation, limited liability company, partnership or other entity, each individual executing this Lease on behalf of
Tenant hereby represents and warrants that Tenant is a duly formed and existing entity qualified to do business in California, and that
Tenant has full right and authority to execute and deliver this Lease and that each person signing on behalf of Tenant is authorized to
do so. In such event, Tenant shall, within ten (10) days after execution of this Lease, deliver to Landlord satisfactory evidence of such
authority and, if a corporation, upon demand by Landlord, also deliver to Landlord satisfactory evidence of (i) good standing in Tenant’s
state of incorporation, and (ii) qualification to do business in California.

 

    -55-

     

    

 

21.21       Governing
Law; WAIVER OF TRIAL BY JURY. This Lease shall be construed and enforced in accordance with the laws of the State of California. IN
ANY ACTION OR PROCEEDING ARISING HEREFROM, LANDLORD AND TENANT HEREBY CONSENT TO (I) THE JURISDICTION OF ANY COMPETENT COURT WITHIN THE
STATE OF CALIFORNIA, (II) SERVICE OF PROCESS BY ANY MEANS AUTHORIZED BY CALIFORNIA LAW, AND (III)
IN THE INTEREST OF SAVING TIME AND EXPENSE, TRIAL WITHOUT A JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER OR THEIR SUCCESSORS IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION
WITH THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, TENANT’S USE OR OCCUPANCY OF THE
PREMISES, AND/OR ANY CLAIM FOR INJURY OR DAMAGE, OR ANY EMERGENCY OR STATUTORY REMEDY. IN THE EVENT LANDLORD COMMENCES ANY SUMMARY PROCEEDINGS
OR ACTION FOR NONPAYMENT OF BASE RENT OR ADDITIONAL RENT, TENANT SHALL NOT INTERPOSE ANY COUNTERCLAIM OF ANY NATURE OR DESCRIPTION (UNLESS
SUCH COUNTERCLAIM SHALL BE MANDATORY) IN ANY SUCH PROCEEDING OR ACTION, BUT SHALL BE RELEGATED TO AN INDEPENDENT ACTION AT LAW.

 

21.22       Project
or Building Name and Signage. Landlord shall have the right at any time to change the name of the Project or Building and to install,
affix and maintain any and all signs on the exterior and on the interior of the Project or Building as Landlord may, in Landlord’s
sole discretion, desire. Tenant shall not use the name of the Project or Building or use pictures or illustrations of the Project or Building
in advertising or other publicity or for any purpose other than as the address of the business to be conducted by Tenant in the Premises,
without the prior written consent of Landlord.

 

21.23       Counterparts.
This Lease may be executed in counterparts with the same effect as if both parties hereto had executed the same document. Both counterparts
shall be construed together and shall constitute a single lease.

 

21.24       Confidentiality.
Tenant acknowledges that the content of this Lease and any related documents are confidential information. Tenant shall keep such confidential
information strictly confidential and shall not disclose such confidential information to any person or entity other than Tenant’s
financial, legal, and space planning consultants.

 

21.25       Building
Renovations. It is specifically understood and agreed that Landlord has no obligation and has made no promises to alter, remodel,
improve, renovate, repair or decorate the Premises, Building, or any part thereof and that no representations respecting the condition
of the Premises or the Building have been made by Landlord to Tenant except as specifically set forth herein or in the Tenant Work Letter.
However, Tenant hereby acknowledges that Landlord is currently renovating or may during the Lease Term renovate, improve, alter, or modify
(collectively, the “Renovations”) the
Project, the Building and/or the Premises. Tenant hereby agrees that such Renovations shall in no way constitute a constructive eviction
of Tenant nor entitle Tenant to any abatement of Rent. Landlord shall have no responsibility and shall not be liable to Tenant for any
injury to or interference with Tenant’s business arising from the Renovations, nor shall
Tenant be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Premises or of Tenant’s
personal property or improvements resulting from the Renovations, or for any inconvenience or annoyance occasioned by such Renovations.

 

21.26       Development
of the Project.

 

21.26.1.Subdivision.
Landlord reserves the right to further subdivide all or a portion of the Project. Tenant agrees to execute and deliver, upon demand by
Landlord and in the form requested by Landlord, any additional documents needed to conform this Lease to
the circumstances resulting from such subdivision.

 

    -56-

     

    

 

21.26.2.The Other
Improvements. If portions of the Project or property adjacent to the Project (collectively, the “Other
Improvements”) are owned by an entity other than Landlord, Landlord, at its option, may
enter into an agreement with the owner or owners of any or all of the Other Improvements to provide (i) for reciprocal rights of access
and/or use of the Project and the Other Improvements, (ii) for the common management, operation, maintenance, improvement and/or repair
of all or any portion of the Project and the Other Improvements, (iii) for the allocation of a portion of the Direct Expenses to the Other
Improvements and the operating expenses and taxes for the Other Improvements to the Project, and (iv) for the use or improvement of the
Other Improvements and/or the Project in connection with the improvement, construction, and/or excavation of the Other Improvements and/or
the Project. Nothing contained herein shall be deemed or construed to limit or otherwise affect Landlord’s
right to convey all or any portion of the Project or any other of Landlord’s rights described
in this Lease.

 

21.26.3.Construction
of Project and Other Improvements. Tenant acknowledges that portions of the Project and/or the Other Improvements may be under construction
following Tenant’s occupancy of the Premises, and that such construction may result in levels
of noise, dust, odor, obstruction of access, etc. which are in excess of that present in a fully constructed project. Tenant hereby waives
any and all rent offsets or claims of constructive eviction which may arise in connection with such construction.

 

21.27       No
Discrimination. There shall be no discrimination against, or segregation of, any person or persons on account of sex, marital status,
race, color, religion, creed, national origin or ancestry in the Transfer of the Premises, or any portion thereof, nor shall the Tenant
itself, or any person claiming under or through it, establish or permit any such practice or practices of discrimination or segregation
with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees, or vendees of the Premises,
or any portion thereof.

 

21.28       Joint
and Several. If there is more than one Tenant, the obligations imposed upon Tenant under this Lease shall be joint and several.

 

21.29       Termination
by Exercise of Right. If this Lease is terminated pursuant to its terms by the proper exercise of a right to terminate specifically
granted to Landlord or Tenant by this Lease, then this Lease shall terminate thirty (30) days after the date the right to terminate is
properly exercised (unless another date is specified in that part of the Lease creating the right, in which event the date so specified
for termination shall prevail), the rent and all other charges due hereunder shall be prorated as of the date of termination, and neither
Landlord nor Tenant shall have any further rights or obligations under this Lease except for those that have accrued prior to the date
of termination or those obligations which this Lease specifically provides are to survive termination. This Section 21.28 does
not apply to a termination of this Lease by Landlord as a result of an Event of Tenant’s
Default.

 

21.30       Brokerage
Commissions. Landlord and Tenant each represents and warrants to the other party that it has not authorized, retained or
employed, or acted by implication to authorize, retain or employ, any real estate broker or agent to act for it or on its behalf in
connection with this Lease so as to cause the other party to be responsible for the payment of a brokerage commission, except for
the Brokers identified in Section R of the Summary to this Lease, and that they know of no other real estate broker or agent
who is entitled to a commission in connection with this Lease. Landlord and Tenant shall each indemnify, defend and hold the other
party harmless from and against any and all claims, demands, losses, liabilities, lawsuits, judgments, costs and expenses (including
without limitation reasonable attorneys’ fees)
with respect to any leasing commission or equivalent compensation alleged to be owing on account of any dealings with any real estate
broker or agent (other than the Brokers) occurring by, through or under the indemnifying party.

 

    -57-

     

    

 

21.31       Force
Majeure. Any prevention, delay or stoppage due to strikes, lock-outs, inclement weather, labor disputes, inability to obtain labor,
materials, fuels or reasonable substitutes therefor, governmental restrictions, regulations, controls, action or inaction, civil commotion,
fire or other acts of God, and other causes beyond the reasonable control of the party obligated to perform (except with respect to the
obligations imposed with regard to Rent and other charges to be paid by Tenant pursuant to this Lease) (collectively, a “Force
Majeure”), notwithstanding anything to the contrary contained in this Lease, shall excuse
the performance of such party for a period equal to any such prevention, delay or stoppage and, therefore, if this Lease specifies a time
period for performance of an obligation of either party, that time period shall be extended by the period of any delay in such party’s
performance caused by a Force Majeure.

 

21.32       Entire
Agreement. This Lease constitutes the entire agreement between the parties, and there are no binding agreements or representations
between the parties except as expressed herein. Tenant acknowledges that neither Landlord nor Landlord’s
employees or agents have made any legally binding representation or warranty as to any matter except those expressly set forth herein,
including any warranty as to (i) whether the Premises may be used for Tenant’s intended use
under existing applicable laws, (ii) the suitability of the Premises or the Project for the conduct of Tenant’s
business, (iii) the condition of any improvements, (iv) the amount of any item comprising Additional Rent or the amount of the Additional
Rent in the aggregate, or that Landlord is furnishing the same services to other tenants, at all, on the same level or on the same basis.
There are no oral agreements between Landlord and Tenant affecting this Lease, and this Lease supersedes and cancels any and all previous
negotiations, arrangements, brochures, agreements and understandings, if any, between Landlord and Tenant or displayed by Landlord to
Tenant with respect to the subject matter of this Lease. This instrument shall not be legally binding until it is executed by both Landlord
and Tenant. No subsequent change or addition to this Lease shall be binding unless in writing and signed by Landlord and Tenant.

 

21.33       Miscellaneous.
The language in all parts of this Lease shall in all cases be construed as a whole according to its fair meaning, and not strictly for
or against either Landlord or Tenant. When a party is required to do something by this Lease, it shall do so at its sole cost and expense
without right of reimbursement from the other party unless a provision of this Lease expressly requires reimbursement. Where a party hereto
is obligated not to perform any act, such party is also obligated to restrain any others within its control from performing said act.

 

21.34       Patriot
Act; OFAC Compliance. As an inducement to Landlord to enter into this Lease, Tenant hereby represents and warrants that: (i) Tenant
is not, nor is it owned or controlled directly or indirectly by, any person, group, entity or nation named on any list issued by the
Office of Foreign Assets Control of the United States Department of the Treasury (“OFAC”)
pursuant to Executive Order 13224 or any similar list or any law, order, rule or regulation or any Executive Order of the President of
the United States as a terrorist, “Specially Designated National and Blocked Person”
or other banned or blocked person (any such person, group, entity or nation being hereinafter referred
to as a “Prohibited Person”); (ii) Tenant
is not (nor is it owned or controlled, directly or indirectly, by any person, group, entity or nation which is) acting directly or indirectly
for or on behalf of any Prohibited Person; and (iii) neither Tenant (nor any person, group, entity or nation which owns or controls Tenant,
directly or indirectly) has conducted or will conduct business or has engaged or will engage in any transaction or dealing with any Prohibited
Person, including without limitation any assignment of this Lease or any subletting of all or any portion of the Premises or the making
or receiving of any contribution of funds, goods or services to or for the benefit of a Prohibited Person. In connection with the foregoing,
it is expressly understood and agreed that (x) any breach by Tenant of the foregoing representations and warranties shall be deemed
a default by Tenant under Section 13.1.6 of this Lease and shall be covered by the indemnity provisions of Section 10.1
above, and (y) the representations and warranties contained in this subsection shall be continuing in nature and shall survive the expiration
or earlier termination of this Lease.

 

[the balance of this page has been intentionally
left blank; signature page follows]

 

    -58-

     

    

 

IN WITNESS WHEREOF, Landlord and Tenant have executed
this Lease with the intent to be legally bound thereby, to be effective as of the Effective Date.

 

	LANDLORD:	 	TENANT:
	 	 	 
	M WEST PROPCO XX, LLC,	 	ENOVIX CORPORATION
	a Delaware limited liability company	 	a Delaware corporation
	 	 	 
	By:	Divco West Real Estate Services, Inc.,	 	By:	/s/ Harrold Rust
	 	a Delaware corporation	 	Name:	Harrold Rust
	 	Its Agent	 	Its:	CEO
	 	 	 	 	 
	 	By:	/s/ Steve Novick	 	Dated:	December 4, 2013
	 	Name:	Steve Novick	 	 	 
	 	Its:	Authorized Signatory	 	 	 
	 	 	 	 	 	 
	 	Dated:	 	 	 	 

 

    -59- 

     

    

 

EXHIBIT A

 

PROJECT SITE PLAN AND OUTLINE OF THE PREMISES

 

This Exhibit is intended only to show the approximate location
of the Premises in the Building, and is not meant to constitute an agreement, representation or warranty as to the construction of the
Premises, the precise area thereof or the specific location of the Common Areas, or the elements thereof, or of the acccessways to the
Premises or the Project. The depiction of any interior windows, cubicles, modules, furniture and equipment in this Exhibit, if shown,
is for illustrative purposes only, but does not mean that such items exist in the Premises or the Building, or that Landlord shall be
obligated to provide, install or construct any such items. This Exhibit shall not be scaled; any measurements or distances shown
should be taken as approximate. The inclusion of any elevators, stairways, electrical and mechanical closets, and other similar facilities
for the benefit of occupants of the Building, if any, does not mean that such items are part of the Premises or the Building.

 

[see attached]

 

     

     

    

 

EXHIBIT A

 

 

 

     

     

    

 

EXHIBIT B

 

TENANT WORK LETTER

 

This Tenant Work Letter shall set forth the terms and conditions relating
to the construction of the Premises. This Tenant Work Letter is essentially organized chronologically and addresses the issues of the
construction of the Premises, in sequence, as such issues will arise during the actual construction of the Premises. All references in
this Tenant Work Letter to Articles or Sections of “this Lease” shall mean the relevant portions of Articles 1 through
21 of the Office Lease to which this Tenant Work Letter is attached as Exhibit B, and all references in this Tenant
Work Letter to Sections of “this Tenant Work Letter” shall mean the relevant portions of Sections 1 through 5
of this Tenant Work Letter.

 

SECTION 1

 

DELIVERY OF THE PREMISES AND BASE BUILDING

 

Upon the full execution and delivery of this Lease
by Landlord and Tenant, Landlord shall deliver the Premises to Tenant, and Tenant shall accept the Premises from Landlord, in its presently
existing, “AS-IS” condition as of the date of this Lease.

 

SECTION 2

 

TENANT IMPROVEMENTS

 

2.1           Tenant
Improvement Allowance. Tenant shall be entitled to a one-time tenant improvement allowance (the “Tenant Improvement Allowance”),
in the amount set forth in Section T of the Summary of Basic Lease Terms, for the costs relating to the initial design and
construction of Tenant’s improvements which are permanently affixed to the Premises (and/or, to the extent Tenant timely exercises
its expansion option with respect to the Warren Expansion Space and the amount set forth in Section T of the Summary is amended
pursuant to Section 1.5.5 above, the Warren Expansion Space) (the “Tenant Improvements”). In no
event shall Landlord be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant
Improvement Allowance. In the event that the Tenant Improvement Allowance is not fully utilized by Tenant in the Premises within eighteen
(18) months after the Lease Commencement Date (or, if Tenant exercises its expansion option with respect to the Warren Expansion Space,
in the Premises and/or the Warren Expansion Space within eighteen (18) months after the Warren Expansion Space Commencement Date), then
such unused amounts shall revert to Landlord, and Tenant shall have no further rights with respect thereto. Any Tenant Improvements that
require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Landlord’s reasonable rules, regulations,
and restrictions, including the requirement that any cabling vender must be selected from a list provided by Landlord, and that the amount
and location of any such cabling must be approved by Landlord. All Tenant Improvements for which the Tenant Improvement Allowance has
been made available shall be deemed Landlord’s property under the terms of the Lease; provided, however, Landlord may, by written
notice to Tenant prior to the end of the Lease Term, or given following any earlier termination of this Lease, require Tenant, at Tenant’s
expense, to remove any Tenant Improvements and to repair any damage to the Premises and Building caused by such removal and return the
affected portion of the Premises to their condition existing prior to the installment of such Tenant Improvements; provided, further,
however, that notwithstanding the foregoing, upon written request by Tenant at the time of Tenant’s request for Landlord’s
approval of the “Final Working Drawings” (as that term is defined in Section 3.3 below), Landlord shall notify
Tenant whether all or any portion of the Tenant Improvements will be required to be removed pursuant to the terms of this Section 2.1.

 

     

     

    

 

2.2           Disbursement
of the Tenant Improvement Allowance.

 

2.2.1       Tenant
Improvement Allowance Items. Except as otherwise set forth in this Tenant Work Letter, the Tenant Improvement Allowance shall be disbursed
by Landlord only for the following items and costs (collectively the “Tenant Improvement Allowance Items”):

 

2.2.1.1            Payment
of the fees of the “Architect” and the “Engineers,” as those terms are defined in Section 3.1 of this
Tenant Work Letter, which fees shall, notwithstanding anything to the contrary contained in this Tenant Work Letter, not exceed an aggregate
amount equal to $1.50 per rentable square foot of the Premises, and payment of the fees incurred by, and the cost of documents and materials
supplied by, Landlord and Landlord’s consultants in connection with the preparation and review of the “Construction Drawings,”
as that term is defined in Section 3.1 of this Tenant Work Letter;

 

2.2.1.2            The
payment of plan check, permit and license fees relating to construction of the Tenant Improvements;

 

2.2.1.3            The
cost of construction of the Tenant Improvements, including, without limitation, testing and inspection costs, freight elevator usage,
hoisting and trash removal costs, and contractors’ fees and general conditions;

 

2.2.1.4            The
cost of any changes to the Base Building when such changes are required by the Construction Drawings (including if such changes are due
to the fact that such work is prepared on an unoccupied basis), such cost to include all direct architectural and/or engineering fees
and expenses incurred in connection therewith;

 

2.2.1.5            The
cost of any changes to the Construction Drawings or Tenant Improvements required by all applicable building codes (the “Code”);

 

2.2.1.6            The
cost of connection of the Premises to the Building’s energy management systems;

 

2.2.1.7            The
cost of Landlord’s Work;

 

2.2.1.8            The
cost of the “Coordination Fee,” as that term is defined in Section 4.2.2 of this Tenant Work Letter;

 

2.2.1.9            Sales
and use taxes and Title 24 fees; and

 

2.2.1.10          All
other costs to be expended by Landlord in connection with the construction of the Tenant Improvements.

 

2.2.2        Disbursement
of Tenant Improvement Allowance. During the construction of the Tenant Improvements, Landlord shall make monthly disbursements of
the Tenant Improvement Allowance for Tenant Improvement Allowance Items for the benefit of Tenant and shall authorize the release of monies
for the benefit of Tenant as follows.

 

2.2.2.1            Monthly
Disbursements. On or before the day of each calendar month, as determined by Landlord, during the construction of the Tenant
Improvements (or such other date as Landlord may designate), Tenant shall deliver to Landlord: (i)a request for payment of the
 “Contractor,” as that term is defined in Section 4.1 of this Tenant Work Letter, approved by Tenant, in a
form to be provided by Landlord, showing the schedule, by trade, of percentage of completion of the Tenant Improvements in the
Premises, detailing the portion of the work completed and the portion not completed; (ii) invoices from all of
 “Tenant’s Agents,” as that term is defined in Section 4.1.2 of this Tenant Work Letter, for labor
rendered and materials delivered to the Premises; (iii) executed mechanic’s lien releases from all of Tenant’s
Agents which shall comply with the appropriate provisions, as reasonably determined by Landlord, of California Civil Code
Section 3262(d); and (iv) all other information reasonably requested by Landlord. Tenant’s request for payment shall
be deemed Tenant’s acceptance and approval of the work furnished and/or the materials supplied as set forth in Tenant’s
payment request. Thereafter, within thirty (30) days, Landlord shall deliver a check to Tenant made jointly payable to Contractor
and Tenant in payment of the lesser of: (A) the amounts so requested by Tenant, as set forth in this Section 2.2.2.1,
above, less a ten percent (10%) retention (the aggregate amount of such retentions to be known as the “Final
Retention”), and (B) the balance of any remaining available portion of the Tenant Improvement Allowance (not
including the Final Retention), provided that Landlord does not dispute any request for payment based on non-compliance of any work
with the “Approved Working Drawings,” as that term is defined in Section 3.4 below, or due to any
substandard work, or for any other reason. Landlord’s payment of such amounts shall not be deemed Landlord’s approval or
acceptance of the work furnished or materials supplied as set forth in Tenant’s payment request.

 

    -2-

     

    

 

2.2.2.2            Final
Retention. Subject to the provisions of this Tenant Work Letter, a check for the Final Retention payable jointly to Tenant and Contractor
shall be delivered by Landlord to Tenant within thirty (30) days following the completion of construction of the Premises, provided that
(i) Tenant delivers to Landlord properly executed mechanics lien releases in compliance with both California Civil Code Section 3262(d)(2) and
either Section 3262(d)(3) or Section 3262(d)(4), (ii) Landlord has determined that no substandard work exists which
adversely affects the mechanical, electrical, plumbing, heating, ventilating and air conditioning, life-safety or other systems of the
Building, the curtain wall of the Building, the structure or exterior appearance of the Building, or any other tenant’s use of such
other tenant’s leased premises in the Building and (iii) Architect delivers to Landlord a certificate, in a form reasonably
acceptable to Landlord, certifying that the construction of the Tenant Improvements in the Premises has been substantially completed..

 

2.2.2.3            Other
Terms. Landlord shall only be obligated to make disbursements from the Tenant Improvement Allowance to the extent costs are incurred
by Tenant for Tenant Improvement Allowance Items. All Tenant Improvement Allowance Items for which the Tenant Improvement Allowance has
been made available shall be deemed Landlord’s property under the terms of this Lease.

 

2.3           Standard
Tenant Improvement Package. Landlord has established or may establish specifications (the “Specifications”) for
the Building standard components to be used in the construction of the Tenant Improvements in the Premises (collectively, the “Standard
Improvement Package”), which Specifications shall be promptly supplied to Tenant by Landlord after full execution and delivery
of this Lease. The quality of Tenant Improvements shall be equal to or of greater quality than the quality of the Specifications, provided
that the Tenant Improvements shall comply with certain Specifications as designated by Landlord. Landlord may make changes to the Specifications
for the Standard Improvement Package from time to time; provided, however, Tenant shall not be obligated to comply with any such changes
that are made after the date Landlord approves the Final Working Drawings, unless such change is required by applicable Law.

 

2.4           Test
Fit Allowance. In addition to the Tenant Improvement Allowance, Landlord shall contribute an amount not to exceed Three Thousand
Five Hundred and 00/100 Dollars ($3,500.00) (the “Test Fit Allowance”) toward the cost of one (1) test fit
plan to be prepared in connection with the construction of the Tenant Improvements. In the event that Tenant desires to use the Test
Fit Allowance, then Tenant shall submit an invoice to Landlord from the “Architect,” as that term is defined in Section 3.1
below, and such costs shall be paid by Landlord within ten (10) business days following Landlord’s receipt of such
invoice. No portion of the Test Fit Allowance, if any, remaining after the completion of the Tenant Improvements shall be available
for use by Tenant.

 

    -3-

     

    

 

SECTION 3

 

CONSTRUCTION DRAWINGS

 

3.1            Selection
of Architect/Construction Drawings. Tenant shall retain the architect/space planner designated by Tenant and approved by Landlord,
which approval shall not be unreasonably withheld (the “Architect”) to prepare the “Construction Drawings,”
as that term is defined in this Section 3.1. Tenant shall retain the engineering consultants designated by Tenant and approved
by Landlord, which approval shall not be unreasonably withheld (the “Engineers”) to prepare all plans and engineering
working drawings relating to the structural, mechanical, electrical, plumbing, HVAC, lifesafety, and sprinkler work in the Premises, which
work is not part of the Base Building. The plans and drawings to be prepared by Architect and the Engineers hereunder shall be known collectively
as the “Construction Drawings.” Tenant shall be required to include in its contracts with the Architect and the Engineers
a provision which requires ownership of all Construction Drawings to be transferred to Tenant upon the Substantial Completion of the Tenant
Improvements and Tenant hereby grants to Landlord a non-exclusive right to use such Construction Drawings, including, without limitation,
a right to make copies thereof. All Construction Drawings shall comply with the drawing format and specifications determined by Landlord,
and shall be subject to Landlord’s approval, which shall not be unreasonably withheld. Tenant and Architect shall verify, in the
field, the dimensions and conditions as shown on the relevant portions of the base building plans, and Tenant and Architect shall be solely
responsible for the same, and Landlord shall have no responsibility in connection therewith. Landlord’s review of the Construction
Drawings as set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review of the
same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding
that any Construction Drawings are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding
any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants,
Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions or errors contained
in the Construction Drawings, and Tenant’s waiver and indemnity set forth in this Lease shall specifically apply to the Construction
Drawings.

 

3.2            Final
Space Plan. Upon receipt of Tenant’s written request, Landlord shall provide to Tenant base building plans to allow Tenant’s
Architect to prepare a space plan. Tenant shall supply Landlord with four (4) copies signed by Tenant of its final space plan for
the Premises before any architectural working drawings or engineering drawings have been commenced. The final space plan (the “Final
Space Plan”) shall include a layout and designation of all offices, rooms and other partitioning, their intended use, and equipment
to be contained therein. Landlord may request clarification or more specific drawings for special use items not included in the Final
Space Plan. Landlord shall advise Tenant within five (5) business days after Landlord’s receipt of the Final Space Plan for
the Premises if the same is unsatisfactory or incomplete in any respect. If Tenant is so advised, Tenant shall promptly cause the Final
Space Plan to be revised to correct any deficiencies or other matters Landlord may reasonably require.

 

3.3            Final
Working Drawings. After the Final Space Plan has been approved by Landlord, Tenant shall supply the Engineers with a complete
listing of standard and non-standard equipment and specifications, including, without limitation, B.T.U. calculations, electrical
requirements and special electrical receptacle requirements for the Premises, to enable the Engineers and the Architect to complete
the “Final Working Drawings” (as that term is defined below) in the manner as set forth below. Upon the approval of the
Final Space Plan by Landlord and Tenant, Tenant shall promptly cause the Architect and the Engineers to complete the architectural
and engineering drawings for the Premises, and Architect shall compile a fully coordinated set of architectural, structural,
mechanical, electrical and plumbing working drawings in a form which is complete to allow subcontractors to bid on the work and to
obtain all applicable permits (collectively, the “Final Working Drawings”) and shall submit the same to Landlord
for Landlord’s approval. Tenant shall supply Landlord with four (4) copies signed by Tenant of such Final Working
Drawings. Landlord shall advise Tenant within five (5) business days after Landlord’s receipt of the Final Working
Drawings for the Premises if the same is unsatisfactory or incomplete in any respect. If Tenant is so advised, Tenant shall
immediately revise the Final Working Drawings in accordance with such review and any disapproval of Landlord in connection
therewith.

 

    -4-

     

    

 

3.4           Approved
Working Drawings. The Final Working Drawings shall be approved by Landlord (the “Approved Working Drawings”) prior
to the commencement of construction of the Premises by Tenant. After approval by Landlord of the Final Working Drawings, Tenant may submit
the same to the appropriate municipal authorities for all applicable building permits (the “Permits”). Tenant hereby agrees
that neither Landlord nor Landlord’s consultants shall be responsible for obtaining any building permit or certificate of occupancy
for the Premises and that obtaining the same shall be Tenant’s responsibility; provided, however, that Landlord shall cooperate
with Tenant in executing permit applications and performing other ministerial acts reasonably necessary to enable Tenant to obtain any
such permit or certificate of occupancy. No changes, modifications or alterations in the Approved Working Drawings may be made without
the prior written consent of Landlord, which consent may not be unreasonably withheld, conditioned or delayed.

 

3.5           Design-Build.
As set forth above, to the extent reasonable given the nature of certain of Tenant’s intended Tenant Improvements, the mechanical,
electrical, and plumbing aspects of the Tenant Improvements may be constructed on a “design-build” basis. All design-build
drawings provided by subcontractors shall be subject to Landlord’s approval (which approval shall not be unreasonably withheld,
conditioned or delayed) prior to the start of construction and prior to submittal to the applicable municipal agencies for permits.

 

SECTION 4

 

CONSTRUCTION OF THE TENANT IMPROVEMENTS

 

4.1           Tenant’s
Selection of Contractors.

 

4.1.1        The
Contractor. A general contractor shall be retained by Tenant to construct the Tenant Improvements. Such general contractor (“Contractor”)
shall be selected by Tenant and approved by Landlord, which approval shall not be unreasonably withheld. Tenant shall obtain cost estimate
bids from a minimum of two (2) general contractors to construct the Tenant Improvements.

 

4.1.2        Tenant’s
Agents. All subcontractors, laborers, materialmen, and suppliers used by Tenant (such subcontractors, laborers, materialmen, and suppliers,
and the Contractor to be known collectively as “Tenant’s Agents”) shall be from a list supplied by Landlord,

 

4.2            Construction
of Tenant Improvements by Tenant’s Agents.

 

4.2.1        Construction
Contract; Cost Budget. Prior to Tenant’s execution of the construction contract and general conditions with Contractor
(the “Contract”), Tenant shall submit the Contract to Landlord for its approval, which approval shall not be
unreasonably withheld or delayed. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has
accepted all bids for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, of the final costs
to be incurred or which have been incurred, as set forth more particularly in Sections 2.2.1.1 through 2.2.1.10,
above, in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or
the Contractor, which costs form a basis for the amount of the Contract (the “Final Costs”). Prior to the
commencement of construction of the Tenant Improvements. Tenant shall supply Landlord with cash in an amount (the
 “Over-Allowance Amount”) equal to the difference between the amount of the Final Costs and the amount of the
Tenant Improvement Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by
Landlord, on or before the commencement of construction of the Tenant Improvements). The Over-Allowance Amount shall be disbursed by
Landlord prior to the disbursement of any of the then remaining portion of the Tenant Improvement Allowance, and such disbursement
shall be pursuant to the same procedure as the Tenant Improvement Allowance. In the event that, after the Final Costs have been
delivered by Tenant to Landlord, the costs relating to the design and construction of the Tenant Improvements shall change, any
additional costs necessary to such design and construction in excess of the Final Costs, shall be paid by Tenant to Landlord
immediately as an addition to the Over-Allowance Amount or at Landlord’s option, Tenant shall make payments for such
additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in Sections
2.2.2.1 (i), (ii), (iii) and (iv) of this Tenant Work Letter, above, for Landlord’s approval, prior to Tenant
paying such costs. Notwithstanding anything set forth in this Tenant Work Letter to the contrary, construction of the Tenant
Improvements shall not commence until (a) Landlord has approved the Contract, (b) Tenant has procured and delivered to
Landlord a copy of all Permits, and (c) Tenant has delivered to Landlord the Over-Allowance Amount.

 

    -5-

     

    

 

4.2.2        Tenant’s
Agents.

 

4.2.2.1            Landlord’s
General Conditions for Tenant’s Agents and Tenant Improvement Work. Tenant’s and Tenant’s Agent’s construction
of the Tenant Improvements shall comply with the following: (i) the Tenant Improvements shall be constructed in strict accordance
with the Approved Working Drawings; (ii) Landlord’s rules and regulations for the construction of improvements in the
Building, (iii) Tenant’s Agents shall submit schedules of all work relating to the Tenant’s Improvements to Contractor
and Contractor shall, within five (5) business days of receipt thereof, inform Tenant’s Agents of any changes which are necessary
thereto, and Tenant’s Agents shall adhere to such corrected schedule; and (iv) Tenant shall abide by all rules made by
Landlord’s Building manager with respect to the use of freight, loading dock and service elevators, storage of materials, coordination
of work with the contractors of other tenants, and any other matter in connection with this Tenant Work Letter, including, without limitation,
the construction of the Tenant Improvements. Tenant shall pay a logistical coordination fee (the “Coordination Fee”)
to Landlord in an amount equal to three percent (3%) of the amount of all costs to construct the Tenant Improvements (excluding the cost
of building permits), which Coordination Fee shall be for services relating to the coordination of the construction of the Tenant Improvements.
The Coordination Fee shall be included in the costs to construct the Tenant Improvements. Landlord shall deduct the Coordination Fee from
the Tenant Improvement Allowance and pay its agent on a monthly basis. Tenant shall be responsible for payment of the Coordination Fee
to the extent that the costs to construct the Tenant Improvements exceed the Tenant Improvement Allowance. In the event of a conflict
between the Approved Working Drawings and Landlord’s construction rules and regulations, Landlord, in its sole and absolute
discretion, shall determine which shall prevail.

 

4.2.2.2            Indemnity.
Tenant’s indemnity of Landlord as set forth in this Lease shall also apply with respect to any and all costs, losses, damages,
injuries and liabilities related in any way to any act or omission of Tenant or Tenant’s Agents, or anyone directly or
indirectly employed by any of them, or in connection with Tenant’s non-payment of any amount arising out of the Tenant
Improvements and/or Tenant’s disapproval of all or any portion of any request for payment. Such indemnity by Tenant, as set
forth in this Lease, shall also apply with respect to any and all costs, losses, damages, injuries and liabilities related in any
way to Landlord’s performance of any ministerial acts reasonably necessary (i) to permit Tenant to complete the Tenant
Improvements, and (ii) to enable Tenant to obtain any building permit or certificate of occupancy for the Premises.

 

    -6-

     

    

 

4.2.2.3     Requirements
of Tenant’s Agents. Each of Tenant’s Agents shall guarantee to Tenant and for the benefit of Landlord that the portion
of the Tenant Improvements for which it is responsible shall be free from any defects in workmanship and materials for a period of not
less than one (1) year from the date of completion thereof. Each of Tenant’s Agents shall be responsible for the replacement
or repair, without additional charge, of all work done or furnished in accordance with its contract that shall become defective within
one (1) year after the later to occur of (i) completion of the work performed by such contractor or subcontractors and (ii) the
Lease Commencement Date. The correction of such work shall include, without additional charge, all additional expenses and damages incurred
in connection with such removal or replacement of all or any part of the Tenant Improvements, and/or the Building and/or common areas
that may be damaged or disturbed thereby. All such warranties or guarantees as to materials or workmanship of or with respect to the Tenant
Improvements shall be contained in the Contract or subcontract and shall be written such that such guarantees or warranties shall inure
to the benefit of both Landlord and Tenant, as their respective interests may appear, and can be directly enforced by either. Tenant covenants
to give to Landlord any assignment or other assurances which may be necessary to effect such right of direct enforcement.

 

4.2.2.4     Insurance
Requirements.

 

4.2.2.4.1            General
Coverages. All of Tenant’s Agents shall carry worker’s compensation insurance covering all of their respective employees,
and shall also carry public liability insurance, including property damage, all with limits, in form and with companies as are required
to be carried by Tenant as set forth in this Lease.

 

4.2.2.4.2            Special
Coverages. Tenant shall carry “Builder’s All Risk” insurance in an amount approved by Landlord covering the construction
of the Tenant Improvements, and such other insurance as Landlord may require, it being understood and agreed that the Tenant Improvements
shall be insured by Tenant pursuant to this Lease immediately upon completion thereof. Such insurance shall be in amounts and shall include
such extended coverage endorsements as may be reasonably required by Landlord including, but not limited to, the requirement that all
of Tenant’s Agents shall carry excess liability and Products and Completed Operation Coverage insurance, each in amounts not less
than $500,000 per incident, $1,000,000 in aggregate, and in form and with companies as are required to be carried by Tenant as set forth
in this Lease.

 

4.2.2.4.3            General
Terms. Certificates for all insurance carried pursuant to this Section 4.2.2.4 shall be delivered to Landlord before
the commencement of construction of the Tenant Improvements and before the Contractor’s equipment is moved onto the site. All
such policies of insurance must contain a provision that the company writing said policy will give Landlord thirty (30) days prior
written notice of any cancellation or lapse of the effective date or any reduction in the amounts of such insurance. In the event
that the Tenant Improvements are damaged by any cause during the course of the construction thereof, Tenant shall immediately repair
the same at Tenant’s sole cost and expense. Tenant’s Agents shall maintain all of the foregoing insurance coverage in
force until the Tenant Improvements are fully completed and accepted by Landlord, except for any Products and Completed Operation
Coverage insurance required by Landlord, which is to be maintained for ten (10) years following completion of the work and
acceptance by Landlord and Tenant. All policies carried under this Section 4.2.2.4 shall insure Landlord and Tenant, as
their interests may appear, as well as Contractor and Tenant’s Agents. All insurance, except Workers’ Compensation,
maintained by Tenant’s Agents shall preclude subrogation claims by the insurer against anyone insured thereunder. Such
insurance shall provide that it is primary insurance as respects the owner and that any other insurance maintained by owner is
excess and noncontributing with the insurance required hereunder. The requirements for the foregoing insurance shall not derogate
from the provisions for indemnification of Landlord by Tenant under Section 4.2.2.2 of this Tenant Work Letter. Landlord
may, in its discretion, require Tenant to obtain a lien and completion bond or some alternate form of security satisfactory to
Landlord in an amount sufficient to ensure the lien-free completion of the Tenant Improvements and naming Landlord as a
co-obligee.

 

    -7-

     

    

 

4.2.3        Governmental
Compliance. The Tenant Improvements shall comply in all respects with the following: (i) the Code and other state, federal, city
or quasi-governmental laws, codes, ordinances and regulations, as each may apply according to the rulings of the controlling public official,
agent or other person; (ii) applicable standards of the American Insurance Association (formerly, the National Board of Fire Underwriters)
and the National Electrical Code; and (iii) building material manufacturer’s specifications.

 

4.2.4       Inspection
by Landlord. Tenant shall provide Landlord with reasonable prior notice of any inspection to be performed by a governmental entity
in connection with the construction of the Tenant Improvements in order to allow Landlord to be present during such inspection. Landlord
shall have the right to inspect the Tenant Improvements at all times, provided however, that Landlord’s failure to inspect the Tenant
Improvements shall in no event constitute a waiver of any of Landlord’s rights hereunder nor shall Landlord’s inspection of
the Tenant Improvements constitute Landlord’s approval of the same. Should Landlord disapprove any portion of the Tenant Improvements
for not meeting the Approved Working Drawings, Landlord shall notify Tenant in writing of such disapproval and shall specify the items
disapproved. Any defects or deviations in, and/or disapproval by Landlord of, the Tenant Improvements shall be rectified by Tenant at
no expense to Landlord, provided however, that in the event Landlord determines that a defect or deviation exists or disapproves of any
matter in connection with any portion of the Tenant Improvements and such defect, deviation or matter might adversely affect the mechanical,
electrical, plumbing, heating, ventilating and air conditioning or life-safety systems of the Building, the structure or exterior appearance
of the Building or any other tenant’s use of such other tenant’s leased premises, Landlord may, take such action as Landlord
deems necessary, at Tenant’s expense and without incurring any liability on Landlord’s part, to correct any such defect, deviation
and/or matter, including, without limitation, causing the cessation of performance of the construction of the Tenant Improvements until
such time as the defect, deviation and/or matter is corrected to Landlord’s satisfaction.

 

4.2.5        Meetings.
Commencing upon the execution of this Lease, Tenant shall hold weekly meetings at a reasonable time, with the Architect and the Contractor
regarding the progress of the preparation of Construction Drawings and the construction of the Tenant Improvements, which meetings shall
be held at a location designated by Landlord, and Landlord and/or its agents shall receive prior notice of, and shall have the right to
attend, all such meetings, and, upon Landlord’s request, certain of Tenant’s Agents shall attend such meetings. In addition,
minutes shall be taken at all such meetings, a copy of which minutes shall be promptly delivered to Landlord. One such meeting each month
shall include the review of Contractor’s current request for payment.

 

4.3           Notice
of Completion; Copy of Record Set of Plans. Within ten (10) days after completion of construction of the Tenant
Improvements, Tenant shall cause a Notice of Completion to be recorded in the office of the Recorder of the county in which the
Building is located in accordance with Section 3093 of the Civil Code of the State of California or any successor statute, and
shall furnish a copy thereof to Landlord upon such recordation. If Tenant fails to do so, Landlord may execute and file the same on
behalf of Tenant as Tenant’s agent for such purpose, at Tenant’s sole cost and expense. At the conclusion of
construction, (i) Tenant shall cause the Architect and Contractor (A) to update the Approved Working Drawings as necessary
to reflect all changes made to the Approved Working Drawings during the course of construction, (B) to certify to the best of
their knowledge that the “record-set” of as-built drawings are true and correct, which certification shall survive the
expiration or termination of this Lease, and (C) to deliver to Landlord four (4) sets of copies of such record set of
drawings within ninety (90) days following issuance of a certificate of occupancy for the Premises, and (ii) Tenant shall
deliver to Landlord a copy of all warranties, guaranties, and operating manuals and information relating to the improvements,
equipment, and systems in the Premises.

 

    -8-

     

    

 

SECTION 5

 

MISCELLANEOUS

 

5.1           Tenant’s
Representative. Tenant has designated Steve Van Tassell as its sole representative with respect to the matters set forth in
this Tenant Work Letter, who shall have full authority and responsibility to act on behalf of the Tenant as required in this Tenant Work
Letter.

 

5.2           Landlord’s
Representative. Landlord has designated Steve Aberle as its sole representative for all phases of construction and with respect to
the matters set forth in this Tenant Work Letter, who, until further notice to Tenant, shall have full authority and responsibility to
act on behalf of the Landlord as required in this Tenant Work Letter.

 

5.3           Time
of the Essence in This Tenant Work Letter. Unless otherwise indicated, all references herein to a “number of days” shall
mean and refer to calendar days. If any item requiring approval is timely disapproved by Landlord, the procedure for preparation of the
document and approval thereof shall be repeated until the document is approved by Landlord.

 

5.4           Tenant’s
Lease Default. Notwithstanding any provision to the contrary contained in this Lease, if an event of default as described in the Lease
or this Tenant Work Letter has occurred at any time on or before the substantial completion of the Premises, then (i) in addition
to all other rights and remedies granted to Landlord pursuant to this Lease, Landlord shall have the right to withhold payment of all
or any portion of the Tenant Improvement Allowance and/or Landlord may cause Contractor to cease the construction of the Premises (in
which case, Tenant shall be responsible for any delay in the substantial completion of the Premises caused by such work stoppage), and
(ii) all other obligations of Landlord under the terms of this Tenant Work Letter shall be forgiven until such time as such default
is cured pursuant to the terms of this Lease (in which case, Tenant shall be responsible for any delay in the .substantial completion
of the Premises caused by such inaction by Landlord).

 

    -9-

     

    

 

EXHIBIT C

 

ACCEPTANCE AGREEMENT

 

This Acceptance
Agreement is made as of                                  ,
by and between the parties hereto with regard to that certain Lease dated                                  ,by
and between M WEST PROPCO XX, LLC, a Delaware limited liability company, as Landlord (“Landlord”),
and                                 ,
a                                  ,
as Tenant (“Tenant”), affecting those premises located
at                                 
, California. The parties hereto agree as follows:

 

		1.	Landlord delivered possession of the Premises to Tenant on                      ,
                                                          with all improvements and work, if any, required of Landlord completed in a good and workmanlike manner and otherwise in the
                                                          condition required under the Lease and Tenant accepted possession of the Premises.

 

		2.	The Lease Commencement Date of the Lease Term for the Premises is                      ,
                                            and the Expiration Date of Lease Term for the Premises is                     ,
                                            unless sooner terminated according to the terms of the Lease.

 

		3.	Each party represents and warrants to the other that it is duly authorized to enter into this document and perform its obligations
without the consent or approval of any other party and that the person signing on its behalf is duly authorized to sign on behalf of such
party.

 

	LANDLORD:	TENANT:
	 	 
	M WEST PROPCO XX, LLC,	 	 	 
	a Delaware limited liability company	 	a	 	 	 	 	 
	 	 	 	 
	By:	Divco West Real Estate Services, Inc.,	 	By:	 
	 	a Delaware corporation	 	Name:	 
	 	Its Agent	 	Its:	 
	 	 	 	 	 
	 	By:	 	 	Dated:	 
	 	Name:	 	 	 	 
	 	Its:	 	 	 	 
	 	 	 	 	 	 
	 	Dated:	 	 	 	 

 

     

     

    

 

 

EXHIBIT D

 

APPROVED HAZARDOUS MATERIALS EXHIBIT

 

[see attached]

 

    

     

    

 

ENVIRONMENTAL QUESTIONNAIRE

FOR COMMERCIAL AND INDUSTRIAL PROPERTIES

 

	Property Name:	 
	 	 
	Property Address:	 

 

Instructions: The following questionnaire is to be completed
by the Tenant representative with knowledge of the planned operations for the specified building/location. Please print clearly and attach
additional sheets as necessary.

 

1.0            PROCESS
INFORMATION

 

Describe planned use, and include brief description of manufacturing
processes employed.

 

2.0            HAZARDOUS
MATERIALS

 

Are hazardous materials used or stored? If so, continue with the next
question. If not, go to Section 3.0.

 

		2.1	Are any of the following materials handled on the Property?	Yes  ̈    No  ̈

 

(A material is handled if it is used, generated, processed,
produced, packaged, treated, stored, emitted, discharged, or disposed.) If so, complete this section. If this question is not applicable,
skip this section and go on to Section 5.0.

 

	 ̈	Explosives	 ̈	Fuels	 ̈	Oils
	 ̈	Solvents	 ̈	Oxidizers	 ̈	Organics/Inorganics
	 ̈	Acids	 ̈	Bases	 ̈	Pesticides
	 ̈	Gases	 ̈	PCBs	 ̈	Radioactive Materials
	 ̈	Other (please specify)	 	 	 	 

 

		2-2.	If any of the groups of materials checked in Section 2.1, please list the specific material(s), use(s), and quantity of
each chemical used or stored on the site in the Table below. If convenient, you may substitute a chemical inventory and list the uses
of each of the chemicals in each category separately.

 

	Material	Physical State (Solid, Liquid, or Gas)	Usage	Container Size	Number of Containers	Total Quantity
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 

 

	Material	Physical State (Solid, Liquid, or Gas)	Usage	Container Size	Number of Containers	Total Quantity
	 	 	 	 	 	 

 

    

     

    

 

		2-3.	Describe the planned storage area location(s) for these materials. Please include site maps and drawings as appropriate.

 

		3.0	HAZARDOUS WASTES

 

	Are hazardous wastes generated?	Yes  ̈  No  ̈

 

If yes, continue with the next question. If not, skip this section
and go to section 4.0.

 

3.1             Are
any of the following wastes generated, handled, or disposed of (where applicable) on the Property?

 

	 ̈	Hazardous wastes	 ̈	Industrial Wastewater
	 ̈	Waste oils	 ̈	PCBs
	 ̈	Air emissions	 ̈	Sludges
	 ̈	Regulated Wastes	 ̈	Other (please specify)

 

3-2.           List and quantify the materials
identified in Question 3-1 of this section. See attached

 

	WASTE	RCRA listed	 	APPROXIMATE MONTHLY	WASTE	 
	GENERATED	Waste?	SOURCE	QUANTITY	CHARACTERIZATION	DISPOSITION
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 

 

		3-3.	Please include name, location, and permit number (e.g. EPA ID No.) for transporter and disposal facility, if applicable). Attach,
separate pages as necessary.

 

	Transporter/Disposal
    Facility Name	Facility
    Location	Transporter
    (T) or Disposal (D) Facility	Permit
    Number
				 
				 
	 	 	 	 
	 	 	 	 

 

	3-4.	Are pollution controls or monitoring employed in
    the process to prevent or minimize the release of wastes into the environment?    Yes  ̈ No  ̈

 

    

     

    

 

		3-5.	If so, please describe.

 

4.0          USTS/ASTS

 

		4.1	Are underground storage tanks (USTs), aboveground storage tanks (ASTs), or associated pipelines used for the storage of petroleum
products, chemicals, or liquid wastes present on site (lease renewals) or required for planned operations (new tenants)? Yes  ̈  No
 ̈ See attached

 

If not, continue with section 5.0.
If yes, please describe capacity, contents, age, type of the USTs or ASTs, as well any associated leak detection/spill prevention measures.
Please attach additional pages if necessary.

 

	 	 	Year	Type (Steel,	Associated Leak Detection / Spill
	Capacity	Contents	Installed	Fiberglass, etc)	Prevention
    Measures*
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

		*Note:	The following are examples of leak detection / spill prevention measures:

	Integrity testing	Inventory reconciliation	Leak detection system
	Overfill spill protection	Secondary containment	Cathodic protection

 

		4-2.	Please provide copies of written tank integrity test results
and/or monitoring documentation, if available.

 

		4-3.	Is the UST/AST registered and permitted with the appropriate regulatory agencies? Yes  ̈
                                                            No  ̈ If so, please attach a copy of the required permits.

 

		4-4.	If this Questionnaire is being completed for a lease renewal, and if any of the USTs/ASTs have leaked,
please state the substance released, the media(s) impacted (e.g., soil, water, asphalt, etc.), the actions taken, and all remedial
responses to the incident.

 

		4-5.	If this Questionnaire is being completed for a lease renewal, have USTs/ASTs been removed from the Property?

Not applicable   Yes  ̈
No  ̈

 

If yes, please provide any official closure letters or reports
and supporting documentation (e.g., analytical test results, remediation report results, etc.).

 

		4-6.	For Lease renewals, are there any above or below ground pipelines on site used to transfer chemicals or wastes?

Not applicable   Yes  ̈
No  ̈

 

For
new tenants, are installations of this type required for the planned operations?

 

Yes  ̈
No  ̈

 

    

     

    

 

If yes to either question, please describe.

 

5.0            asbestos
containing building materials

 

Please be advised that an asbestos survey may have been performed
at the Property. If provided, please review the information that identifies the locations of known asbestos containing material or
presumed asbestos containing material. All personnel and appropriate subcontractors should be notified of the presence of these
materials, and informed not to disturb these materials. Any activity that involves the disturbance or removal of these materials
must be done by an appropriately trained individual/contractor.

 

6.0            REGULATORY

 

		6-1. 	Does the operation have or require a National Pollutant Discharge Elimination System (NPDES) or equivalent permit?                                    	Yes  ̈ No  ̈

If so, please attach a copy
of this permit.

 

		6-2.	Has a Hazardous Materials Business Plan been developed for the site ?               	                                                                                                    Yes  ̈ No  ̈

If so, please attach a copy.

 

CERTIFICATION

 

I am familiar with the real property described
in this questionnaire. By signing below, I represent and warrant that the answers to the above questions are complete and accurate
to the best of my knowledge. I also understand that Landlord will rely on the completeness and accuracy of my answers in assessing any
environmental liability risks associated with the property.

 

	 	Signature:	 
	 	Name:	 
	 	Title:	 
	 	Date:	 
	 	Telephone:	 

 

    

     

    

 

 

2.3 Hazardous Materials Storage / Usage / Handling Areas

 

 

 

    

     

    

 

EXHIBIT E

 

FORM OF TENANT ESTOPPEL

 

The undersigned, as Tenant
under that certain Office Lease (the “Lease”) made and entered into as of ____________, 20 ___by and between M WEST
PROPCO XX, as Landlord, and the undersigned, as Tenant, for Premises on the ___________floor(s) of the office building located at
____________certifies as follows:

 

1.             Attached
hereto as Schedule 1 is a true and correct copy of the Lease and all amendments and modifications thereto. The documents contained
in Schedule 1 represent the entire agreement between the parties as to the Premises.

 

2.            The
undersigned currently occupies the Premises described in the Lease, the Lease Term commenced on __________, and the Lease Term expires on
__________, and the undersigned has no option to terminate or cancel the Lease or to purchase all or any part of the Premises, the Building
and/or the Project.

 

3.            Base
Monthly Rent became payable on ___________.

 

4.            The
Lease is in full force and effect and has not been modified, supplemented or amended in any way except as provided in Schedule 1.

 

5.            Tenant
has not transferred, assigned, or sublet any portion of the Premises, nor entered into any license or concession agreements with respect
thereto except as follows:_________________.

 

6.            Tenant
shall not modify the documents contained in Schedule 1 without the prior written consent of Landlord’s mortgagee.

 

7.            All
monthly installments of Base Monthly Rent, all Additional Rent and all monthly installments of estimated Additional Rent have been paid
when due through ___________. Base Monthly Rent is currently payable at the rate of $ ___________.

 

8.            To
the best of Tenant’s knowledge, all conditions of the Lease to be performed by Landlord necessary to the enforceability of the Lease
have been satisfied and Landlord is not in default thereunder. In addition, the undersigned has not delivered any notice to Landlord regarding
a default by Landlord thereunder.

 

9.            No
rental has been paid more than thirty (30) days in advance and no security has been deposited with Landlord except the Security Deposit
in the amount of $ ___________, as provided in the Lease.

 

10.          To
the best of Tenant’s knowledge, as of the date hereof, there are no existing defenses or offsets, or, to the undersigned’s
knowledge, claims or any basis for a claim, that the undersigned has against Landlord.

 

11.           If
Tenant is a corporation, limited liability company, partnership or limited liability partnership, each individual executing this Estoppel
Certificate on behalf of Tenant hereby represents and warrants that Tenant is a duly formed and existing entity qualified to do business
in California and that Tenant has full right and authority to execute and deliver this Estoppel Certificate and that each person signing
on behalf of Tenant is authorized to do so.

 

12.          There
are no actions pending against the undersigned under the bankruptcy or similar laws of the United States or any state.

 

    

     

    

 

13.            Other
than in compliance with all applicable laws and incidental to the ordinary course of the use of the Premises, the undersigned has not
used or stored any hazardous substances in the Premises.

 

14.            All
tenant improvement work to be performed by Landlord under the Lease has been completed in accordance with the Lease and has been accepted
by the undersigned and all reimbursements and allowances due to the undersigned under the Lease in connection with any tenant improvement
work have been paid in full.

 

15.            Under
the Lease, Tenant has the right to cause an audit and/or accounting to be performed of Landlord’s operations and/or books and records
pertaining to operating expenses and taxes. Such an audit and/or accounting could result in a claim or an offset of rent paid under the
Lease. Tenant’s execution of this Estoppel Certificate notwithstanding, Tenant reserves its right to perform such an audit and/or
accounting pursuant to the terms of the Lease and to assert any claims or offsets resulting therefrom.

 

The undersigned acknowledges that this Estoppel
Certificate may be delivered to Landlord or to a prospective mortgagee or prospective purchaser, and acknowledges that said prospective
mortgagee or prospective purchaser will be relying upon the statements contained herein in making the loan or acquiring the property of
which the Premises are a part and that receipt by it of this certificate is a condition of making such loan or acquiring such property.

 

Executed at___________  on the____  day of _________, 20 __.

 

	 	“Tenant”:	 
	 			,
	 	a		 
	 			 
	 	 	 	 
	 	By:		 
	 		Its:		 
	 			 
	 	 	 	 
	 	By:		 
	 		Its:		 

 

    -2-

     

    

 

SCHEDULE 1 TO EXHIBIT E

 

LEASE DOCUMENTS

 

[to be attached]

 

    

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	ARTICLE 1	PREMISES, BUILDING, PROJECT AND COMMON AREAS	4
	ARTICLE 2	LEASE TERM; DELIVERY OF PREMISES	8
	ARTICLE 3	RENT	13
	ARTICLE 4	USE OF PREMISES	23
	ARTICLE 5	ADDITIONS AND ALTERATIONS	25
	ARTICLE 6	REPAIR AND MAINTENANCE	27
	ARTICLE 7	HAZARDOUS MATERIALS	28
	ARTICLE 8	SERVICES AND UTILITIES	33
	ARTICLE 9	INSURANCE	33
	ARTICLE 10	INDEMNIFICATION AND WAIVER	36
	ARTICLE 11	DAMAGE TO PREMISES	37
	ARTICLE 12	CONDEMNATION	38
	ARTICLE 13	DEFAULT AND REMEDIES	39
	ARTICLE 14	ASSIGNMENT AND SUBLETTING	41
	ARTICLE 15	SURRENDER OF PREMISES	48
	ARTICLE 16	HOLDING OVER	48
	ARTICLE 17	ESTOPPEL CERTIFICATES AND FINANCIAL STATEMENTS	49
	ARTICLE 18	SUBORDINATION	49
	ARTICLE 19	PARKING	51
	ARTICLE 20	SIGNS	51
	ARTICLE 21	GENERAL PROVISIONS	53

 

	EXHIBITS:	 	 
	Exhibit A – Project Site Plan and Outline of the Premises	 
	Exhibit B – Tenant Work Letter	 
	Exhibit C – Acceptance Agreement	 
	Exhibit D – Approved Hazardous Materials Exhibit	 
	Exhibit E – Form of Tenant Estoppel	 

 

    

     

    

 

INDEX

 

	 	Page(s)
	 	 
	Additional Rent	14
	Additional Security Deposit	22
	Advocate Arbitrators	10
	Affiliate	47
	Agreed Interest Rate	22
	Alterations	25
	Approved Hazardous Materials	28
	Approved Hazardous Materials Exhibit	28
	Arbitration Agreement	11
	Audit Notice	20
	Base Building	25
	Base Monthly Rent	13
	Briefs	11
	Building	4
	Building Systems	9, 25
	City	52
	Common Areas	4
	Comparable Buildings	10
	Comparable Transactions	9
	Concessions	9
	Control	47
	Cosmetic Alterations	25
	Electronic Payment	21
	Electronic Payment Notice	21
	Environmental Questionnaire	28
	Estimate 	19
	Estimate Statement 	19
	Estimated Project Expenses	19
	Estoppel Certificate 	49
	Event of Tenant’s Default	39
	Excess	19
	Expansion Period 	5
	Expansion Space Amendment 	6
	Expansion Space Security Deposit 	6
	Expense Year 	14
	Eyebrow Sign 	52
	Fair Market Rent Rate,	9
	FF&E	19
	First Rebuttals	11
	Force Majeure	58
	Fremont ROFR Notice	7
	Fremont ROFR Space	7
	Hazardous Material Laws	31
	Hazardous Materials	31
	Hazardous Materials Usage	29
	HMBP Plan	28
	HVAC	23
	Initial Security Deposit	22

 

    

     

    

 

	 	Page(s)
	Landlord Cure Right	32
	Landlord Parties	31
	Landlord's Initial Statement	12
	Laws	23
	Lease Commencement Date	8
	Lease Expiration Date	8
	Lease Term	8
	Lease Year	8
	Lines	26
	Losses	31
	Mail	53
	Monument Sign	52
	Net Worth	6, 47
	Neutral Arbitrator	11
	Neutral Audit	20
	Notices	53
	Objectionable Name	52
	OFAC	58
	Operating Expenses	14
	Option Conditions	9
	Option Rent	9
	Option Term	9
	Original Improvements	34
	Original Tenant	5
	Other Improvements	57
	Outside Agreement Date	10
	Permitted Assignee	47
	Permitted Transfer	47
	Permitted Transferee	47
	Private Restrictions	23
	Prohibited Person	58
	Project	4
	Project Expenses	17
	Proposition 13	18
	Real Property Taxes	17
	Records	20
	Reduction Conditions	6
	Reduction Date	6
	Renovations	56
	Rent	14
	Review Period	20
	ROFR Period	7
	ROFR Space Amendment	7
	Rules and Regulations	24
	Ruling	12
	Second Rebuttals	11
	Security Deposit	22
	Security Instruments	49
	Statement	19
	Subject Space	42

 

    -3-

     

    

 

	 	Page(s)
	Temporary Taking	38
	Tenant Parties	31
	Tenant Signage	52
	Tenant’s Agents	27
	Tenant’s Expansion Notice	5
	Tenant’s Initial Statement	12
	Tenant’s Rebuttal Statement	12
	Tenant’s Share	19
	Tenant’s Subleasing Costs	44
	Transfer	41
	Transfer Agreement	45
	Transfer Notice	42
	Transfer Premium	44
	Transferee	41
	Warren Expansion Space	5
	Warren Expansion Space Commencement Date	5

 

    -4-Exhibit 10.22

 

FIRST AMENDMENT TO OFFICE LEASE

 

THIS FIRST AMENDMENT TO OFFICE LEASE dated June 24, 2015 (this
 “First Amendment”) is entered into by and between M WEST PROPCO – WEST WARREN, LLC, a Delaware limited liability
company (“Landlord”), and ENOVIX CORPORATION, a Delaware corporation (“Tenant”), with reference
to the following:

 

RECITALS:

 

A.          MWEST
PROPCO XX, LLC, a Delaware limited liability company, predecessor- in-interest to Landlord, and Tenant entered into that certain Office
Lease dated December 4, 2013 (the “Lease”), pursuant to which Tenant leases from Landlord certain premises consisting
of approximately 37,738 rentable square feet (the “Existing Premises”) of that certain building (the “Building”)
with a street address of 3501 W. Warren Avenue.

 

B.           Tenant
desires to (i) expand the Existing Premises to include approximately 14,904 rentable square feet (the “Expansion Premises”)
within the Building, with a street address of 3481 W. Warren Avenue, as set forth on Exhibit A attached hereto and
made a part hereof, (ii) extend the Lease Term, and (iii) make certain other modifications to the Lease, and in connection therewith,
Landlord and Tenant desire to amend the Lease on such terms and conditions as are hereinafter provided.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing
Recitals and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties hereby agree as follows.

 

1.            Terms.
All undefined terms when used herein shall have the same respective meanings as are given such terms in the Lease unless expressly
provided otherwise in this First Amendment.

 

2.            Expansion
Premises. Effective as of the “Expansion Premises Commencement Date,” as that term is defined in Section 3
below, Tenant shall lease from Landlord and Landlord shall lease to Tenant the Expansion Premises. Consequently, effective upon the Expansion
Premises Commencement Date, the “Premises,” as that term is defined in the Lease, shall consist of the Existing Premises
and the Expansion Premises and shall consist of a total of 52,642 rentable square feet of space. Landlord and Tenant hereby acknowledge
and agree that the rentable square footage of the Expansion Premises shall be as set forth herein and shall not be subject to re-measurement
or modification.

 

3.            Term. The
parties hereby agree and acknowledge that pursuant to the terms of the Lease, the Lease Term for the Existing Premises is currently
scheduled to expire on December 31, 2020. Landlord and Tenant hereby agree to extend the Lease Term for a period of fifty-seven
(57) months, through and including September 30, 2025 (the “New Lease Expiration Date”) on the terms and
conditions set forth in the Lease, as amended hereby, unless sooner terminated as provided in the Lease, as amended hereby. The term
of Tenant’s lease of the Expansion Premises (the “Expansion Term”) shall commence upon January 1, 2016
(the “Expansion Premises Commencement Date”), and shall expire coterminously with Tenant’s lease of the
Existing Premises on the New Lease Expiration Date (i.e., on September 30, 2025), unless sooner terminated as provided in the
Lease, as amended hereby. Accordingly, all references in the Lease to the “Lease Expiration Date” shall be deemed to
refer to the New Lease Expiration Date.

 

     

     

    

 

4.             Rent.

 

4.1            Existing
Premises. Notwithstanding anything to the contrary set forth in the Lease, as amended hereby, prior to January 1, 2021, Tenant
shall continue to pay Base Monthly Rent for the Existing Premises in accordance with Article 3 of the Lease. Commencing on
January 1, 2021, and continuing throughout the Expansion Term, Tenant shall pay to Landlord monthly installments of Base Monthly
Rent for the Existing Premises as follows:

 

	 
Period
                                            During
 Expansion
                                            Term
 
	 	 
 
Annual
                                            Base Rent
 
	 	 	 
 
Base
                                            Monthly Rent
 
	 	 	Approximate 
Monthly Base Rental 
Rate per Rentable 
Square Foot	 
	January 1, 2021 – 
December 31, 2021	 	$	524,984.22	 	 	$	43,748.69	 	 	$	1.16	 
	January 1, 2022 – 
December 31, 2022	 	$	540,733.75	 	 	$	45,061.15	 	 	$	1.19	 
	January 1, 2023 – 
December 31, 2023	 	$	556,955.76	 	 	$	46,412.98	 	 	$	1.23	 
	January 1, 2024 – 
December 31, 2024	 	$	573,664.43	 	 	$	47,805.37	 	 	$	1.27	 
	January 1, 2024 – 
September 30, 2025	 	$	590,874.36	 	 	$	49,239.53	 	 	$	1.30	 

 

[remainder of page intentionally left blank]

 

    -2-

     

    

 

4.2            Expansion
Premises. Commencing on the Expansion Premises Commencement Date and continuing throughout the Expansion Term, Tenant shall pay
Base Monthly Rent in monthly installments for the Expansion Premises as follows:

 

	Period During 
Expansion Term	 	Annual Base Rent	 	 	Base Monthly Rent*	 	 	Approximate 
Monthly Base Rental 
Rate per Rentable 
Square Foot	 
	January 1, 2016 – 
December 31, 2016**	 	$	178,848.00	 	 	$	14,904.00	 	 	$	1.00	 
	January 1, 2017 – 
December 31, 2017	 	$	184,213.44	 	 	$	15,351.12	 	 	$	1.03	 
	January 1, 2018 – 
December 31, 2018	 	$	189,739.84	 	 	$	15,811.65	 	 	$	1.06	 
	January 1, 2019 – 
December 31, 2019	 	$	195,432.04	 	 	$	16,286.00	 	 	$	1.09	 
	January 1, 2020 – 
December 31, 2020	 	$	201,295.00	 	 	$	16,774.58	 	 	$	1.13	 
	January 1, 2021 – 
December 31, 2021	 	$	207,333.85	 	 	$	17,277.82	 	 	$	1.16	 
	January 1, 2022 – 
December 31, 2022	 	$	213,553.87	 	 	$	17,796.16	 	 	$	1.19	 
	January 1, 2023 – 
December 31, 2023	 	$	219,960.48	 	 	$	18,330.04	 	 	$	1.23	 
	January 1, 2024 – 
December 31, 2024	 	$	226,559.30	 	 	$	18,879.94	 	 	$	1.27	 
	January 1, 2024 – 
September 30, 2025	 	$	233,356.07	 	 	$	19,446.34	 	 	$	1.30	 

 

*Tenant’s obligations to pay Base Rent during the first six (6) full
calendar months of the Expansion Term shall be subject to the Rent Abatement, as set forth in Section 4.5, below.

 

**The initial installment of Base Monthly Rent was calculated by
multiplying the initial Approximate Monthly Base Rental Rate per Rentable Square Foot by the number of rentable square feet of space
in the Premises, and the Annual Base Rent was calculated by multiplying the corresponding installment of Base Monthly Rent by twelve
(12). In all subsequent Base Rent payment periods during the Expansion Term, the calculation of Annual Base Rent (and subsequent
installment of Base Monthly Rent) reflects an annual increase of three percent (3%).

 

    -3-

     

    

 

4.3            First
Month’s Rent. Concurrently with Tenant’s execution of this First Amendment, Tenant shall pay to Landlord the Base
Rent payable for the Expansion Premises for the first full month (following the Rent Abatement Period) of the Expansion Term (i.e., $14,904.00).

 

4.4            Common
Area Charges. Effective as of the Expansion Premises Commencement Date, Tenant’s Share with respect to the Building shall
be 76.6728%, based on the ratio that the total rentable square footage of the Existing Premises and the Expansion Premises (52,642 rentable
square feet) bears to the total rentable square footage of the Building (68,658 rentable square feet).

 

4.5            Abated
Base Rent. Provided that Tenant is not in default under the Lease, as amended hereby, then during the first six (6) full
calendar months of the Expansion Term (the “Rent Abatement Period”), Tenant shall not be obligated to pay Base Rent
otherwise attributable to the Expansion Premises during such Rent Abatement Period (the “Rent Abatement”). Landlord
and Tenant acknowledge and agree that the aggregate amount of the Rent Abatement during the Rent Abatement Period equals Eighty-Nine Thousand
Four Hundred Twenty-Four and 00/100 Dollars ($89,424.00). Tenant acknowledges and agrees that the foregoing Rent Abatement has been granted
to Tenant as additional consideration for entering into this First Amendment, and for agreeing to pay the Rent and perform the terms and
conditions otherwise required under the Lease, as amended hereby. If at any time during the Expansion Term Tenant is in default under
the Lease, as amended hereby, and Tenant shall fail to cure such default within any applicable notice and cure period, or if the Lease,
as amended hereby, is terminated for any reason other than Landlord’s breach of the Lease, as amended hereby, then the dollar amount
of the unapplied portion of the Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to
a credit to be applied to the Base Rent applicable at the end of the Expansion Term and Tenant shall immediately be obligated to begin
paying Base Rent for the Expansion Premises in full.

 

5.            Tenant’s
Entry Into the Expansion Premises Prior to Expansion Premises Commencement Date. Landlord shall allow Tenant access to the Expansion
Premises promptly following the full execution and delivery of this First Amendment, and continuing until the Expansion Premises Commencement
Date (the “Early Access Period”), for the purpose of Tenant constructing the “Expansion Premises Improvements”
(as that term is defined below) in the Expansion Premises, and for installing equipment or fixtures (including Tenant’s data and
telephone equipment) in the Expansion Premises; provided, however, that Tenant complies with all of the terms and conditions of the Lease,
as amended hereby (including without limitation Tenant’s insurance and indemnity obligations), other than any covenant to pay Base
Monthly Rent or Additional Rent with respect to the Expansion Premises, during the Early Access Period. Notwithstanding the foregoing,
Tenant shall not be entitled to early access until Tenant has delivered evidence of liability and property insurance coverage covering
the Expansion Premises in accordance with Section 9.1 of the Lease.

 

    -4-

     

    

 

6.            Improvements
in the Expansion Premises. Except as expressly set forth in this First Amendment, Landlord shall not be obligated to provide
or pay for any improvement work or services related to the improvement of the Expansion Premises, and Tenant shall accept the
Expansion Premises in its presently existing, “AS-IS” condition, and the construction of any improvements which are
permanently affixed to the Expansion Premises (the “Expansion Premises Improvements”) shall comply with the terms
of the Tenant Work Letter attached to the Lease as Exhibit B, provided, however, that: (i) in
lieu of the Tenant Improvement Allowance specified in the Tenant Work Letter in connection with the Existing Premises, Tenant shall
be entitled to a tenant improvement allowance (the “Expansion Premises Improvement Allowance”) equal to Two
Hundred Ninety-Eight Thousand Eighty and 00/100 Dollars ($298,080.00) (i.e., Twenty and 00/100 Dollars ($20.00) per each of the
14,904 rentable square feet of the Expansion Premises) for the costs relating to the initial design and construction of the
Expansion Premises Improvements; (ii) for purposes hereof, all references in the Tenant Work Letter to (A) the
 “Premises” shall be deemed to refer to the Expansion Premises, (B) the “Lease Commencement Date” shall
be deemed to refer to the Expansion Premises Commencement Date, (C) the “Tenant Improvement Allowance” shall be
deemed to refer to the Expansion Premises Improvement Allowance, and (D) the “Tenant Improvements” shall be deemed
to refer to the Expansion Premises Improvements; (iii) all references to the Warren Expansion Space shall be deleted in their
entirety; and (iv) Landlord shall have no obligation to contribute an amount toward the cost of, and Tenant shall not be
entitled to apply any portion of the Expansion Improvement Allowance to, any Test Fit Allowance with respect to the Expansion
Premises. For purposes of Section 1938 of the California Civil Code, Landlord hereby discloses to Tenant, and Tenant hereby
acknowledges, that the Projects, Buildings, Existing Premises and Expansion Premises have not undergone inspection by a Certified
Access Specialist (CASp).

 

7.            Tenant’s
Entry Into the Expansion Premises Prior to Expansion Premises Commencement Date. Landlord shall allow Tenant access to the Expansion
Premises promptly following the full execution and delivery of this First Amendment, and continuing until the Expansion Premises Commencement
Date (the “Early Access Period”), for the purpose of Tenant constructing the Expansion Premises Improvements in the
Expansion Premises, and for installing equipment or fixtures (including Tenant’s data and telephone equipment) in the Expansion
Premises; provided, however, that Tenant complies with all of the terms and conditions of the Lease, as amended by this First Amendment
(including without limitation Tenant’s insurance and indemnity obligations), other than any covenant to pay Base Monthly Rent or
Additional Rent with respect to the Expansion Premises, during the Early Access Period. Notwithstanding the foregoing, Tenant shall not
be entitled to early access until Tenant has delivered evidence of liability and property insurance coverage covering the Expansion Premises
in accordance with Section 9.1 of the Lease.

 

8.            Option
to Extend. Tenant and Landlord hereby acknowledge and agree that Tenant’s right to extend the term of the Lease pursuant
to the terms of Section 2.4 of the Lease shall be applicable to the entire Premises (i.e., the Existing Premises and the Expansion
Premises).

 

9.            Expansion
Option; Right of First Refusal with respect to the Fremont ROFR Space. Tenant and Landlord hereby acknowledge and agree that
Tenant did not timely exercise the expansion option set forth in Section 1.5 of the Lease, and as such, Tenant’s
expansion option has terminated and is of no further force or effect, and all references in the Lease to the “Warren Expansion
Space” and/or to any Tenant expansion option shall be deemed to be deleted in their entirety. Tenant and Landlord further
acknowledge and agree that as a result of Tenant’s failure to exercise the expansion option described in Section 1.5
of the Lease, Tenant’s one-time right of first refusal with respect to the “Fremont ROFR Space” (as that term is
defined in Section 1.6 of the Lease) has also terminated and is no further force or effect, and all references in the
Lease to the Fremont ROFR Space and/or to any Tenant right of first refusal shall be deemed to be deleted in their entirety.

 

    -5-

     

    

 

10.           Security
Deposit. Notwithstanding anything in the Lease to the contrary, the Security Deposit held by Landlord pursuant to the Lease, as
amended hereby, shall equal One Hundred Thirty-Four Thousand Nine Hundred Fifty-Six and 54/100 Dollars ($134,956.54). Landlord and Tenant
acknowledge that, in accordance with Section 3.6 of the Lease, Tenant has previously delivered the sum of Thirty-Eight Thousand
Five Hundred Three and 40/100 Dollars ($38,503.40) (the “Existing Security Deposit”) to Landlord as security for the
faithful performance by Tenant of the terms, covenants and conditions of the Lease. Concurrently with Tenant’s execution of this
First Amendment, Tenant shall deposit with Landlord (i) the “Additional Security Deposit” (as that term is defined in
Section 3.6 of the Lease) (i.e., an amount equal to Seventy-Seven Thousand Six and 80/100 Dollars ($77,006.80)), plus (ii) an
amount equal to Nineteen Thousand Four Hundred Forty-Six and 34/100 Dollars ($19,446.34) to be held by Landlord as part of the Security
Deposit. To the extent that the total amount held by Landlord at any time as security for the Lease, as amended hereby, is less than One
Hundred Thirty-Four Thousand Nine Hundred Fifty-Six and 54/100 Dollars ($134,956.54), Tenant shall pay the difference to Landlord within
ten (10) days following Tenant’s receipt of notice from Landlord.

 

11.          Parking.
As of the date of this First Amendment Section H of the Summary of Basic Lease Terms set forth in the Lease is hereby
deleted in its entirety and replaced with the following:

 

“3.19
unreserved parking passes for every 1,000 rentable square feet of the Premises (i.e., one hundred sixty-eight (168) unreserved parking
passes, based on 52,642 rentable square feet in the Premises).”

 

Accordingly, effective as of the date of this First Amendment, and
continuing through the Expansion Term (i.e., until the New Lease Expiration Date, or such sooner termination date as provided in the Lease,
as amended hereby), Tenant shall have the right to use one hundred sixty-eight (168) unreserved parking passes in the parking facility
for the Project, pursuant and subject to the terms of Article 19 of the Lease.

 

12.          Brokers.
Landlord and Tenant hereby warrant to each other that they have had no dealings with any real estate broker or agent in connection
with the negotiation of this First Amendment, except CBRE, Inc. (“Broker”) and that they know of no other real
estate broker or agent who is entitled to a commission in connection with this First Amendment other than Broker. Each party agrees to
indemnify and defend the other party against and hold the other party harmless from any and all claims, demands, losses, liabilities,
lawsuits, judgments, and costs and expenses (including, without limitation, reasonable attorneys’ fees) with respect to any leasing
commission or equivalent compensation alleged to be owing on account of the indemnifying party’s dealings with any real estate broker
or agent other than Broker. The terms of this Section 12 shall survive the expiration or earlier termination of this First
Amendment.

 

    -6-

     

    

 

13.          No
Further Modification. Except as specifically set forth in this First Amendment, all of the terms and provisions of the Lease shall
remain unmodified and in full force and effect. In the event of any conflict between the terms and conditions of the Lease and the terms
and conditions of this First Amendment, the terms and conditions of this First Amendment shall prevail.

 

[remainder of page intentionally left blank;
signature page follows]

 

    -7-

     

    

 

IN WITNESS WHEREOF, Landlord and Tenant have caused
this First Amendment to be executed on the day and date first above written.

 

	 	“LANDLORD”:
	 	 
	 	M WEST PROPCO – WEST WARREN, LLC,
	 	a Delaware limited liability company
	 	 	 	 
	 	By:	Divco West Real Estate Services, Inc.,
	 	 	a Delaware corporation
	 	Its:	Agent
	 	 	 	 
	 	 	By:	/s/ Steve Novick
	 	 	Name:	Steve Novick
	 	 	Its:	Authorized Signatory
	 	 	 	 
	 	“TENANT”:
	 	 	 	 
	 	ENOVIX CORPORATION,
	 	a Delaware corporation
	 	 
	 	By:	/s/ Harrold Rust
	 	Name:	Harrold Rust
	 	Its:	CEO

 

    

     

    

 

EXHIBIT A

 

OUTLINE OF EXPANSION PREMISES

 

 

EXHIBIT A

 

    -1-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]