Document:

Exhibit

Exhibit 4.5

THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED OR QUALIFIED FOR SALE UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR QUALIFICATION OR AN EXEMPTION THEREFROM UNDER SAID ACT AND ANY STATE SECURITIES LAWS WHICH MAY BE APPLICABLE.  THE COMPANY MAY REQUIRE AN OPINION OF COUNSEL BEFORE IT EFFECTS ANY TRANSFER ON ITS BOOKS AND RECORDS OF THIS WARRANT OR THE COMMON STOCK ISSUABLE UPON EXERCISE HEREOF.
________________________________________________________________________________________________
WARRANT TO PURCHASE
SHARES OF COMMON STOCK
OF
TECOGEN INC.
________________________________________________________________________________________________
Key Terms/Definitions:

	
		
	“Company”:
	Tecogen Inc., a Delaware corporation

	“Holder”:
	 

	“Common Stock”:
	Common Stock of the Company

	Number of shares of Common Stock initially  issuable on exercise of this Warrant (subject to adjustment):
	                    shares

	Price paid to purchase Warrant:
	 

	“Exercise Price” per share of Common Stock (subject to adjustment):
	 

	“Date of Issuance” of this Warrant:
	 

	“Expiration Date” of this Warrant
	 

THIS IS TO CERTIFY that, for value received and subject to the provisions hereinafter set forth, that the Holder, or permitted assigns, is entitled to purchase from the Company at any time on or after the date hereof and on or before the Expiration Date the number of shares of Common Stock set forth in the table above, subject to the terms, provisions and conditions hereinafter set forth, at the Exercise Price per share. 
Tender of the price paid for to purchase this Warrant shall be made by delivery of a personal or bank check payable to the Company or by wire transfer to the Company’s designated bank account, together with the original copy of this Warrant. 
SECTION 1.    EXERCISE OF WARRANT.
This Warrant may be exercised in whole or in part at any time by the surrender of this Warrant (with the subscription form at the end hereof duly completed and executed) at the principal office of the Company and upon payment to the Company of the aggregate Exercise Price for the shares being purchased.  Any such payment shall be by check payable to the order of the Company.  Notwithstanding any other provision hereof, if an exercise of any portion of this Warrant is to be made in connection with a public offering or sale of the Company, the exercise of any portion of this Warrant may, at the election of the Holder, be conditioned upon the consummation of the public offering or sale of the Company, in which case such exercise shall not be deemed to be effective concurrently with the consummation of such transaction.
If this Warrant is exercised in respect of less than all of the shares of Common Stock at the time purchasable hereunder, the Holder shall be entitled to receive a new Warrant of like tenor to this Warrant covering the number of shares in respect of which this Warrant shall not have been exercised.

Exhibit 4.5

The Common Stock issuable upon the exercise of this Warrant shall be deemed to have been issued to the Holder at the time of such exercise, and the Holder shall be deemed for all purposes to have become the record holder of the Common Stock at such time.  Certificates for shares of the Common Stock purchased upon exercise or partial exercise of this Warrant shall be delivered by the Company to Holder within five business days after the date of exercise.
This Warrant and all rights and options hereunder shall expire on the Expiration Date (as the same may be modified as provided herein), and shall be wholly null and void to the extent this Warrant is not exercised before it expires.
SECTION 2.    RESERVATION.
The Company will at all times prior to the Expiration Date reserve and keep available such number of authorized shares of its Common Stock solely for the purpose of issuance upon the exercise of the rights represented by this Warrant as herein provided for, as may at any time be issuable upon the exercise of this Warrant. 
SECTION 3.    STOCK DIVIDENDS, ETC.
The per share Exercise Price and the number of shares deliverable hereunder shall be adjusted as hereinafter set forth:
Section 3.1. Stock Dividends, Subdivisions and Combinations.  In case after the date hereof the Company shall:
(a)    take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, Common Stock, or
(b)    subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or
(c)    combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock,
then the per share Exercise Price shall be adjusted, for the purpose of preserving the economic value of this Warrant, to the price determined by multiplying the per share Exercise Price in effect immediately prior to such subdivision or combination or the taking of a record of holders in respect of such payment or distribution, as the case may be (each, a “Triggering Event”) by a fraction (i) the numerator of which shall be the total number of outstanding shares of Common Stock of the Company immediately prior to such Triggering Event, and (ii) the denominator of which shall be the total number of outstanding shares of Common Stock of the Company immediately after such Triggering Event. 
Section 3.2.    Adjustment of Number of Shares Purchasable.  Upon each adjustment of the per share Exercise Price, the number of shares of Common Stock subsequently purchasable hereunder shall be an amount equal to the quotient derived by dividing the aggregate Exercise Price in effect immediately before such adjustment by the per share Exercise Price in effect immediately following such adjustment or readjustment.
SECTION 4.    DISSOLUTION OR LIQUIDATION.
If the Company declares or pays a dividend upon the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a stock dividend payable in shares of Common Stock (a “Liquidating Dividend”), then the Company shall pay to the Holder at the time of payment thereof the Liquidating Dividend which would have been paid to such holder on the Common Stock had this Warrant been fully exercised immediately prior to the date on which a record is taken for such Liquidating Dividend, or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends are to be determined.
SECTION 5.    NOTICE OF DIVIDENDS; PAYMENTS.
If the Board of Directors of the Company shall declare any dividend or other distribution on any class of its Common Stock except by way of a stock dividend payable in Common Stock on its Common Stock, the Company shall mail notice thereof to the Holder not less than 10 days prior to the record date fixed for determining shareholders entitled to participate in such dividend or other distribution, and the Holder shall be entitled to receive, as a consent fee, cash or other property from the Company in an amount and of the same type (cash or property) equal to that which the holder would have been entitled to receive if the unexercised portion hereof had been exercised as of the record date of such dividend or distribution.

Exhibit 4.5

SECTION 6.    NO FRACTIONAL SHARES.
No fractional shares shall be issued upon the exercise of this Warrant under any circumstances.
SECTION 7.    FULLY PAID STOCK.
The Company covenants and agrees to take all such actions necessary to ensure that the shares of stock represented by each and every certificate for its Common Stock to be delivered on the exercise of the purchase rights herein provided for shall, at the time of such delivery, be validly issued and outstanding and be fully paid and nonassessable.  In addition, the Company shall take all such actions as may be necessary to ensure that all such shares of Common Stock may be so issued without violation of any applicable law or governmental regulation or any requirements of any trading market or securities exchange upon which shares of Common Stock may be listed.
SECTION 8.    CLOSING OF TRANSFER BOOKS.
The right to exercise this Warrant shall not be suspended during any period that the stock transfer books of the Company for its Common Stock may be closed.  The Company shall not be required, however, to deliver certificates of its Common Stock upon such exercise while such books are duly closed for any purpose, but the Company may postpone the delivery of the certificates for the Common Stock until the opening of such books, and they shall, in such case, be delivered forthwith upon the opening thereof, or as soon as practicable thereafter.
SECTION 9.    RESTRICTIONS ON TRANSFERABILITY OF WARRANTS AND 
SHARES; COMPLIANCE WITH LAWS.
Notwithstanding anything contained in this Warrant to the contrary, the terms and provisions of this Section 10 of this Warrant remain in full force and effect at all times and shall survive the Expiration Date.
Section 9.1.    In General.  This Warrant and the shares of Common Stock issued upon the exercise hereof shall not be transferable except upon the conditions hereinafter referred to, which conditions are intended to ensure compliance with the provisions of the Securities Act of 1933, as amended (or any similar Federal statute at the time in effect) (the “Securities Act”), and any applicable state securities laws in respect of the transfer of this Warrant or any such shares.  Any attempt to transfer such Warrant or such shares except in accordance with the terms hereof shall, to the extent legally enforceable, be void.
Section 9.2.    Restrictive Legends.  Each Warrant and each certificate for shares of Common Stock issued upon the exercise of any Warrant shall bear a customary restrictive legend relating to securities laws compliance until counsel for the Company determines that such legend is no longer legally required.  This Warrant and any shares of Common Stock issuable upon exercise hereof may be transferred only in accordance with the provisions of such legend, including the legend set forth on the first page hereof.
Section 9.3.    Accredited Investor.  The initial Holder of this Warrant represents that he is an a “accredited investor” as defined in the rules and regulations under the Securities Act.
SECTION 10.    PARTIAL EXERCISE AND PARTIAL ASSIGNMENT.
If this Warrant is exercised in part only, the holder hereof shall be entitled to receive a new Warrant covering the number of shares in respect of which this Warrant shall not have been exercised as provided in Section 1.  If this Warrant is partially assigned, this Warrant shall be surrendered at the principal office of the Company (with the partial assignment form at the end hereof duly executed), and thereupon a new Warrant shall be issued to the Holder covering the number of shares not assigned and setting forth the proportionate aggregate Exercise Price applicable to such shares not assigned.  The assignee of such partial assignment of this Warrant shall also be entitled to receive a new Warrant of like tenor to this Warrant covering the number of shares so assigned and setting forth the proportionate aggregate Exercise Price applicable to such assigned shares. If this Warrant is assigned in full, this Warrant shall be surrendered at the principal office of the Company (with the full assignment form at the end hereof duly executed), and thereupon a new Warrant of like tenor to this Warrant shall be issued to the assignee covering the number of shares of Common Stock then issuable upon exercise of this Warrant.

Exhibit 4.5

SECTION 11.     WARRANT DENOMINATIONS.
Warrants are issuable or transferable in the denomination of 1,000 shares or any integral multiple thereof (as nearly as may be practicable and subject to required adjustments hereunder), and the Warrants of each denomination are interchangeable upon surrender thereof at the office of the Company for Warrants of other denominations, but aggregating the same number of shares as the Warrants so surrendered.  All Warrants will be dated the same date as this Warrant.
SECTION 12.    LOST, STOLEN WARRANTS, ETC.
In case this Warrant shall be mutilated, lost, stolen or destroyed, the Company may issue a new Warrant of like date, tenor and denomination and deliver the same in exchange and substitution for and upon surrender and cancellation of the mutilated Warrant, or in lieu of the Warrant lost, stolen or destroyed, upon receipt of evidence satisfactory to the Company of the loss, theft or destruction of such Warrant, and upon receipt of indemnity satisfactory to the Company. All warrants hereafter issued in exchange or substitution for this Warrant shall be substantially in the form hereof.
SECTION 13.    WARRANT HOLDER RIGHTS.
This Warrant does not confer upon the holder hereof any right to vote or to consent or to receive notice as a shareholder of the Company, as such, in respect of any matters whatsoever, or any other rights or liabilities as a shareholder, prior to the exercise hereof as hereinbefore provided.
SECTION 14.    SEVERABILITY.
Should any part of this Warrant for any reason be declared invalid, such decision shall not affect the validity of any remaining portion, which remaining portion shall remain in force and effect as if this Warrant had been executed with the invalid portion thereof eliminated, and it is hereby declared the intention of the parties hereto that they would have executed and accepted the remaining portion of this Warrant without including therein any such part, parts or portion which may, for any reason, be hereafter declared invalid.
SECTION 15.    GOVERNING LAW.
This Warrant shall be governed by the laws of the State of Delaware.
IN WITNESS WHEREOF, the Company. has caused this Warrant to be signed by a duly authorized officer. 
Dated: _________________
TECOGEN INC.
By:_____________________________________
Name:
Title:
The initial Warrant Holder hereby confirms
the representations and covenants contained
in Section 10:

___________________________________
       

Exhibit 4.5

SUBSCRIPTION
TECOGEN INC.
The undersigned,____________________________, pursuant to the provisions of the within Warrant, hereby elects to exercise said Warrant for ___________ shares of Common Stock of Tecogen Inc. covered by the within Warrant.
______________________________
Signature
Address:

Dated: _____________________________

FULL ASSIGNMENT
FOR VALUE RECEIVED, ____________________________ hereby sells, assigns and transfers unto_________________________ the within Warrant and all rights evidenced thereby and does irrevocably constitute and appoint ___________________________, attorney, to transfer the said Warrant on the books of the within-named Company.

______________________________
Assignor

Dated: ______________________________

PARTIAL ASSIGNMENT
FOR VALUE RECEIVED _________________________ hereby sells, assigns and transfers unto that portion of the within Warrant and the rights evidenced thereby which will on the date hereof entitle the holder to purchase shares of Common Stock of Tecogen Inc. and irrevocably constitutes and appoints attorney, to transfer that part of the said Warrant on the books of the within-named Company.

______________________________
Assignor

Dated_____________________________Exhibit 10.02

 

 

 

 

 

 

 

AGREEMENT OF LEASE

 

between

 

OAKLAND COMMERCE CENTER, LLC

 

And

 

FLEXSHOPPER, LLC

 

 

 

 

 

 

    	 

    	 

    

OAKLAND
COMMERCE CENTER, LLC

 

Table of Contents

 

BASIC PROVISIONS

DEFINITIONS

 

	Article 1     DEMISE
    OF PREMISES AND COMMENCEMENT DATE	8
	Article 2     COMMON
    AREAS	8
	Article 3     RENT	9
	Article 4     SECURITY	10
	Article 5     ASSIGNMENT
    AND SUBLETTING	11
	Article 6     REPAIRS,
    MAINTENANCE AND UTILITIES	13
	Article 7     COMPLIANCE
    WITH LAW	15
	Article 8     ALTERATIONS	16
	Article 9     INSURANCE	16
	Article 10   DAMAGE
    AND DESTRUCTION; EMINENT DOMAIN	19
	Article 11   RENT
    ABATEMENT	20
	Article 12   QUIET
    POSSESSION	21
	Article 13   DEFAULT;
    REMEDIES AND DAMAGES	22
	Article 14   UNAVOIDABLE
    DELAYS, FORCE MAJEURE	24
	Article 15   NOTICES	25
	Article 16   ACCESS	25
	Article 17   SIGNS	26
	Article 18   END
    OF TERM	26
	Article 19   HOLDING
    OVER	26
	Article 20   INDEMNITY	27
	Article 21   SUBORDINATION	28
	Article 22   CERTIFICATES	28
	Article 23   PARKING
    SPACES; USE OF EXTERIOR AREAS	29
	Article 24   WAIVER
    PROVISIONS	30
	Article 25   MISCELLANEOUS	31

 

    Page 2 of 36

     

    

 

THIS LEASE is made
and entered into as of this ____ day of __________, 2015, by and between OAKLAND COMMERCE CENTER, LLC (“Landlord”)
a Florida limited liability company, having its principal office at 1900 Glades Rd., Suite 351 Boca Raton, FL 33431 and FLEXSHOPPER,
LLC, a Foreign limited liability company (“Tenant”).

 

NOW, THEREFORE,
in consideration of the terms, covenants and conditions herein set forth, Landlord and Tenant hereby covenant and agree as follows:

 

The following Basic
Provisions and Definitions are incorporated into and made a part of this Lease:

 

BASIC PROVISIONS

 

	(1)	Complex:	3115-3317 NW 10th Terrace & 3401-3411 NW 9th Avenue, Ft. Lauderdale, Florid
	 	 	 
	(2)	Building:	3115 NW 10th Terrace, Fort Lauderdale, Florida 33309
	 	 	 
	(3)	Premises:	Suite 110, 111 & 112, consisting of approximately 4,425 square feet
	 	 	 
	(4)	Permitted Use:	Office
	 	 	 
	(5)	Estimated Commencement
	 	Date:	September 1, 2015
	 	 	 
	(6)	Expiration Date:	Forty-eight (48) months after commencement date
	 	 	 
	(7)	Term:	Forty-eight (48) months
	 	 	 
	(8)	Security:	$5,199.38
	 	 	 

 

	(9)	Base Rent:	 	Period	 	Annual Base Rent	 	Monthly Base Rent
	 	 	 	9/1/15 – 8/31/16	 	62,392.50	 	5,199.38
	 	 	 	9/1/16 – 8/31/17	 	64,251.00	 	5,354.25
	 	 	 	9/1/17 – 8/31/18	 	66,198.00	 	5,516.50
	 	 	 	9/1/18 – 8/31/19	 	68,189.25	 	5,682.44

 

	(10)	Base Year:	Calendar year 2015
	 	 	 
	(11)	Tenant’s Percentage:	Initially 2.8% subject to adjustment per terms of the Lease
	 	 	 
	(12)	Sales Tax:	Tenant shall remain liable for the payment of sales tax applicable to the laws of the State of Florida
	 	 	 

    Page 3 of 36

     

    

 

	(13)	Tenant’s Address:	FLEXSHOPPER, LLC (Corporate)
	 	 	2700 N. Military Trail, Suite 200
	 	 	Boca Raton, FL 33431
	 	 	 
	(14)	Landlord’s Address:	Oakland Commerce Center, LLC
	 	 	c/o PIMO Capital
	 	 	1900 Glades Rd., Suite 351
	 	 	Boca Raton, FL 33431
	 	 	 
	(15)	Parking Spaces:	18 parking spaces subject to Article 23
	 	 	 
	(16)	Broker:	Nexvel Properties, LLC
	 	 	 
	(17)	Exhibits:	The following exhibits annexed hereto are hereby incorporated herein and made a part hereof:

 

	 	Exhibit A	–	Site Plan
	 	 	 	 
	 	Exhibit B	–	Floor Plan
	 	 	 	 
	 	Exhibit C	–	Rules & Regulations
	 	 	 	 
	 	Exhibit D	–	Landlord’s/Work
	 	 	 	 
	 	Exhibit E	–	Termination Option

 

    Page 4 of 36

     

    

 

DEFINITIONS

 

(1)“Additional
Rent” means any and all sums due or becoming due pursuant to the terms of this Lease for any reason with the exception
of Base Rent, including, without limitation, attorneys fees and court costs.

 

(2)“Alteration(s)”
means any and all installations, changes, additions or improvements to the Premises made by or at the request of Tenant, other
than the Landlord’s Work.

 

(3)“Base
Operating Expenses” means the Operating Expenses incurred by Landlord in the Base Year.

 

(4)“Base
Taxes” means the Taxes incurred by Landlord in the Base Year.

 

(5)“Building”
means the building designated in the Basic Provisions section of this Lease.

 

(6)“Commencement
Date” means the later of (i) the day on which possession of the Premises is delivered to Tenant ready for occupancy,
or (ii) September 1, 2015.

 

(7)“Common
Areas” means those portions of the Complex and services which are generally available to any and all of the owners, tenants
or users of the Complex and the business invitees of such owners, tenants or users.

 

(8)“Complex”
means the Building, the Common Areas and any other improvements on that certain developed parcel of real property designated as
“Complex” in the Basic Provisions section of this Lease and as shown on Exhibit A.

 

(9)“Fee
Mortgagee” means any person or entity which Landlord notifies Tenant has a mortgage against the Complex or Building.

 

(10)“Governmental
Authorities” means all federal, state, county and municipal governments and appropriate departments, commissions, boards,
subdivisions, and officers thereof.

 

(11)“Hazardous
Materials” means any substances, materials, wastes, pollutants and the like which are defined as hazardous or toxic in,
and/or regulated by (or become defined in and/or regulated by), any Legal Requirements.

 

(12)“HVAC
System” means the heating, air conditioning and ventilation systems, and all component parts of such systems, installed
by Landlord for the purpose of supplying ventilation, heat and/or cooling to the Premises, excluding any supplemental units servicing
the Premises in whole or part.

 

    Page 5 of 36

     

    

 

(13)“Interest
Rate” means the Prime Rate (hereinafter defined) plus five percent (5%).

 

(14)“Lease”
means this lease as same may be amended, modified, extended or renewed.

 

(15)“Lease
Month” means each calendar month commencing (i) on the Commencement Date if the Commencement Date falls on the first
day of a calendar month, or (ii) if the Commencement Date is not the first day of a calendar month, on the first day of the month
following the Commencement Date with the first Lease Month to include the initial partial calendar month in which the Commencement
Date falls.

 

(16)“Legal
Requirements” means any and all applicable laws and ordinances and the orders, rules, regulations and requirements of
all Governmental Authorities which may be applicable to the Lease.

 

(17)“Operating
Expense(s)” means any and all amounts incurred by Landlord in any calendar year in connection with Landlord’s responsibilities
under this Lease and/or to operate, manage, maintain and repair the Complex, including, without limitation, (i) wages, salaries
and worker’s compensation (including employee benefits and unemployment and social security taxes and insurance) of staff
performing services in connection with the Complex, and (ii) management fees (not to exceed five percent (5%) of all Rent collected
by Landlord from all tenants in the Complex).

 

(18)“Personalty”
means any and all personal property of any type (including, without limitation, inventory, fixtures, equipment, machinery and vehicles)
belonging to Tenant and located in or about the Building, the Premises and/or the Complex.

 

(19)“Premises”
means the portion of the Building designated in the Basic Provisions section of this Lease, as shown on Exhibit B.

 

(20)“Prime
Rate” means the prime interest rate for short term (90 day) unsecured loans as published from time to time by the Wall
Street Journal.

 

(21)“Repair(s)”
means any and all maintenance, repairs, replacements, alterations and additions required to maintain the Premises and/or the Complex
to the standard to which similar properties are maintained in the community in which the Complex is located.

 

(22)“Rent”
means any and all Base Rent and/or Additional Rent.

 

(23)“Rules
and Regulations” – means the Rules and Regulations set out in Exhibit C, subject to the provisions of Section 25.1.

 

(24)“Security”
means the amount specified in the Basic Provisions, subject to the provisions of Article 4.

 

    Page 6 of 36

     

    

 

(25)“Square
Feet” refers to the total number of square feet of floor area of all floors in the Building, including any mezzanine
or basement space, as measured from the exterior faces of the exterior walls and/or the center line of any common walls. The Square
Feet of the Premises shall conclusively be the number of Square Feet indicated in the Basic Provisions, which number includes a
factor which takes into account the Common Areas.

 

(26)“Taking”
means a legal transfer of ownership and/or possession, whether temporary or permanent, for any public or quasi-public use by any
lawful power or authority by exercise of the right of condemnation or eminent domain or by agreement between Landlord and those
having the authority to exercise such right.

 

(27)“Taxes”
means any and all real estate taxes and general, special and betterment assessments, incurred by Landlord as owner of the Complex
in any calendar year, including, without limitation, all water and sewer charges, and any taxes, fees and charges imposed in lieu
of or in addition to the foregoing due to a future change in the method of taxation. Nothing contained in this Lease shall require
Tenant to pay any estate, inheritance, succession, corporate franchise or income tax of Landlord, nor shall any of same be deemed
Taxes, except to the extent same are substituted in lieu of other forms of Taxes. Any Taxes for a calendar tax year only a part
of which is included within the Term, shall be adjusted between Landlord and Tenant on the basis of a 365-day year as of the Commencement
Date or the Expiration Date or sooner termination of the Term, as the case may be, for the purpose of computing Tenant’s
Tax Payment.

 

(28)“Tenant’s
Percentage” means the number of Square Feet within the Premises divided by the number of Square Feet within the Building.
Landlord shall proportionally increase or decrease Tenant’s Percentage if the number of Square Feet in the Building increases
or decreases due to additional development, subdivision, demolition, condemnation, or similar reasons.

 

(29)“Vesting
Date” means the date of vesting of title or transfer of possession, whichever is earlier, if the Complex, Building, Premises
or any portion thereof is the subject of a Taking.

 

(30)“Year
End Reconciliation” means an itemized statement of the difference, if any, between (i) the Tax Payment due and the actual
amount of Estimated Tax Payments made by Tenant for the preceding calendar year and (ii) the Operating Expense Payment due and
the actual amount of Estimated Operating Expense Payment made by Tenant for the preceding calendar year.

 

    Page 7 of 36

     

    

 

Article 1DEMISE
OF PREMISES AND COMMENCEMENT DATE

 

Section 1.1 Demise. Landlord
is the owner of the Complex and hereby leases the Premises to Tenant for the Term. Tenant hereby takes the Premises from
Landlord, subject to all liens, encumbrances, easements, restrictions, covenants, zoning laws and regulations affecting
and governing the Premises. Tenant shall use the Premises for the Permitted Use and for no other use or purpose.

 

Section 1.2Delivery
and Acceptance. Upon full and final execution and delivery of this Lease, Landlord shall deliver, and Tenant shall accept
delivery and possession of the Premises. The Premises shall be delivered in “broom clean”, but otherwise in “AS
IS, WHERE IS” condition. If the Premises are not ready for Tenant’s occupancy at the time of the Estimated Commencement
Date, Landlord shall have no liability to Tenant for any delay and this Lease shall not be affected thereby, except that the Commencement
Date shall be the actual date of delivery of possession of the Premises to Tenant. Upon entering into possession of the Premises,
Tenant shall conclusively be deemed to have accepted the Premises in its then “AS IS, WHERE IS” condition, including,
without limitation, as regards the title thereto, the nature, condition and usability thereof, and the use or uses to which the
Premises may be put, and shall be deemed to have assumed all risk, if any, resulting from any patent defects and from the failure
of the Premises to comply with all Legal Requirements applicable thereto. Except as specifically provided in Exhibit D, Landlord
shall not be required to perform any work to prepare the Premises for Tenant’s intended use.

 

Section 1.3Commencement
Date Letter. After determination of the Commencement Date, Landlord may send Tenant a commencement letter confirming the Commencement
Date, the Expiration Date and any other variable terms of the Lease. The commencement letter, which may be delivered by regular
mail, shall become a part of this Lease and shall be binding on Tenant and Landlord if Tenant does not give Landlord notice of
its disagreement with any of the provisions of such commencement letter within ten (10) days after the date of such letter.

 

Article 2COMMON
AREAS

 

Section 2.1Use
of Common Areas. Beginning on the Commencement Date, Tenant shall have the nonexclusive right to the use of the Common Areas
in common with others.

 

Section 2.2Complex
and Building. Provided Landlord makes commercially reasonable efforts to avoid interfering with Tenant’s use and occupancy
of the Premises, Landlord shall have the right (i) to add to, or subtract from, the Common Areas, the Complex and/or the Building
as Landlord may elect and Tenant shall not be entitled to any compensation as a result thereof, nor shall same be deemed an actual
or constructive eviction, (ii) to erect, use and maintain pipes, ducts, shafts and conduits in and through the Premises, and (iii)
to temporarily close any part of the Common Areas for such time as may be required to prevent a dedication thereof or an accrual
of any rights in any person or in the public generally therein, or when necessary for the maintenance or repair thereof, or for
such other reason as Landlord in its judgment may deem necessary or advisable.

 

    Page 8 of 36

     

    

 

Article 3RENT

 

Section 3.1Rent.

 

(a)All
payments of Rent shall be paid to or on behalf of Landlord in lawful money of the United States, without prior demand or notice.
All payments of Rent shall be delivered to Landlord at the address set forth in this Lease or to any other place designated by
Landlord. Tenant’s obligation to pay Rent accruing or on account of any time period during the Term shall survive the Expiration
Date.

 

(b)The
first and last full monthly installment of Base Rent and Sales Tax shall be paid to Landlord simultaneous with execution of this
Lease by Tenant. Thereafter, Base Rent shall be paid in equal monthly installments in advance on or before the first day of each
month during the Term.

 

(c)Except
as otherwise expressly and specifically provided to the contrary in this Lease, no abatement, diminution or reduction of Rent shall
be claimed by or allowed to Tenant, or any persons or entities claiming under Tenant, under any circumstances for any cause or
reason.

 

Section 3.2Tenant’s
Tax Payment and Property Insurance Payment

 

(a)Real
Estate Taxes: Lessee shall pay as additional rent starting in 2016 and continuing through the remainder Term of this Lease
Tenant’s Percentage of the increase, if any, in real estate taxes from the prior year. After each calendar year, Landlord
shall furnish tenant a statement of the actual taxes and a statement of the prior year’s taxes and Tenant shall pay to Landlord
Tenant’s Percentage of the increase if applicable, if any, no later than Ten (10) days after notice from Landlord to Tenant.

 

(b)Property
Insurance: Lessee shall pay as additional rent starting in 2016 and continuing through the remainder Term of this Lease Tenant’s
Percentage of the increase, if any, in Landlord’s Fire, All Risk, Property Damage and General Liability insurance premiums
from the prior year’s insurance premiums for same. After each calendar year, Landlord shall furnish tenant a statement of
the actual insurance premiums and a statement of the prior year’s insurance premiums and Tenant shall pay to Landlord Tenant’s
Percentage of the increase, if any, no later than Ten (10) days after notice from Landlord to Tenant.

 

Section 3.3Late
Charge. If any Rent is not paid to Landlord within ten (10) days after its due date, a late charge equal to ten percent (10%)
of the then late payment shall be automatically due from Tenant to Landlord (“Late Charge”). The Late Charge is in
compensation of Landlord’s additional costs of processing late payments.

 

    Page 9 of 36

     

    

 

Article 4SECURITY

 

(a)Tenant
has, simultaneously with the execution hereof, deposited with Landlord the Security for the faithful performance and observance
by Tenant of the terms of this Lease. Landlord may retain, use, or apply the whole or part of the Security to the extent required
for payment of any: (i) Rent; (ii) loss or damage that Landlord may suffer by reason of an Event of Default by Tenant including,
without limitation, any damages incurred by Landlord or deficiency resulting from the re-letting of the Premises, whether such
damages or deficiency accrues before or after summary proceedings or other reentry by Landlord; (iii) costs incurred by Landlord
in connection with the cleaning or repair of the Premises upon expiration or earlier termination of this Lease. Landlord shall
not be obligated to apply the Security and the Landlord’s right to bring an action or special proceeding to recover damages
or otherwise to obtain possession of the Premises before or after Landlord’s declaration of the termination of this Lease
for nonpayment of Rent or for any other reason shall not be affected by reason of the fact that Landlord holds the Security. The
Security will not be a limitation on the Landlord’s damages or other rights and remedies available under this Lease, or at
law or equity; nor shall the Security be a payment of liquidated damages or advance of the Rent or any component thereof.

 

(b)If
Landlord uses, applies, or retains all or any portion of the Security, Tenant will restore the Security to its original amount
immediately upon written demand from Landlord. Tenant’s failure to strictly comply with this requirement shall be an Event
of Default.

 

(c)Subject
to applicable Legal Requirements and requirements of Landlord’s lender(s), Landlord may commingle the Security with its own
funds. Landlord shall not be required to keep the Security in an interest bearing account. Upon expiration or earlier termination
of the Lease, Landlord will return the Security to the then current Tenant and Landlord shall be deemed released by Tenant from
all liability for the return of the Security. If any part of Landlord’s property of which the Premises forms a part is sold,
leased or otherwise legally transferred (including to a mortgagee upon foreclosure of its mortgage), Landlord shall transfer the
Security to the successor entity, and, upon such transfer, Landlord shall be deemed released by Tenant from all liability for the
return of the Security; and Tenant shall look solely to the Landlord’s successor for the return of the Security.

 

(d)The
Security shall not be mortgaged, assigned, or encumbered by Tenant, and neither Landlord nor its successors or assigns shall be
bound by any such mortgage, assignment or encumbrance.

 

(e)If
Tenant fully and faithfully complies with all of the terms, covenants, conditions and provisions of this Lease, Landlord shall,
within sixty (60) days after the later of the Expiration Date and the date of surrender of possession of the Premises to Landlord
in accordance with this Lease, return to Tenant the Security, or such portion thereof as shall then remain, less an estimated amount
due for any unpaid Operating Expense Payment and/or Tax Payment.

 

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Article 5ASSIGNMENT
AND SUBLETTING

 

Section 5.1Assignment
and Subletting.

 

(a)Except
as otherwise set out in this Article, Tenant shall not mortgage, encumber or assign its interest in this Lease or sublet all or
any part of the Premises without the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned
or delayed.

 

(b)Landlord’s
consent to any one assignment or sublease will not act as a waiver of the requirement of obtaining the Landlord’s consent
to any subsequent assignment or sublease.

 

(c)Should
Tenant wish to assign this Lease or sublet any portion of the Premises, Tenant shall submit to Landlord a written request (“Tenant’s
Request”) for Landlord’s consent to such assignment or subletting. Tenant’s Request shall include, at a minimum,
the name and address of the proposed assignee or subtenant, the proposed use of the Premises, financial statements of the proposed
assignee or sublessee in form satisfactory to Landlord, a copy of the proposed assignment or sub-lease and any other documentation
reasonably required by Landlord.

 

(d)Notwithstanding
anything contained in this Lease to the contrary, Landlord shall not be obligated to consider any request by Tenant to consent
to any proposed assignment of this Lease or sublet of all or any part of the Premises unless (i) Tenant is current in payment of
Rent, and (ii) each request by Tenant is accompanied by a nonrefundable fee payable to Landlord in the amount of Five Hundred and
00/100 Dollars ($500.00) to cover Landlord’s expenses incurred in processing each Tenant’s Request. Neither Tenant’s
payment nor Landlord’s acceptance of the said fee shall be construed to impose any obligation whatsoever upon Landlord to
consent to Tenant’s Request. Landlord shall have the right to charge Tenant an additional or higher fee in the event the
processing of the proposed assignment or subletting shall require more than two (2) hours to negotiate and/or draft the necessary
documents.

 

(e)Landlord
and Tenant agree that any one of the following factors will be reasonable grounds for declining the Tenant’s request:

 

(i)financial
strength of the proposed subtenant/assignee is not of the strength Landlord would require of any prospective tenant for similar
properties in the Complex as of the date of the request;

 

(ii)business
reputation of the proposed subtenant/assignee is not in accordance with generally acceptable commercial standards and the businesses
of other tenants in the Complex;

 

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(iii)the
proposed subtenant/assignee is an existing tenant or occupant of the Complex, or a person or entity with whom Landlord is then
dealing with regard to leasing space in the Complex, or with whom Landlord has had any dealings within the past six months with
regard to leasing space in the Complex;

 

(iv)use
of the Premises will violate the exclusive right(s) of any other tenant of the Complex, any other agreements affecting the Premises,
the Landlord or other tenants.

 

(f)If
Tenant sublets all or part of the Premises, for a net consideration (i.e. all rent and other forms of income or payment to Tenant
from the subtenant less all actual, reasonable and necessary brokerage commissions and other costs incurred by Tenant in obtaining
a subtenant) which is in excess of the Rent accruing under the Lease during the term of the sublease, then Tenant shall pay to
Landlord, as Additional Rent, fifty percent (50%) of such excess consideration.

 

Section 5.2Change
of Control. Excluding the sale of corporate shares held by the general public and traded through a nationally recognized stock
exchange, the sale, assignment, transfer or other disposition of any of the issued and outstanding capital stock of Tenant (or
of any successor or assignee of Tenant which is a corporation), or of the interest of any general partner in a partnership constituting
Tenant hereunder, or of the interest of any member of a limited liability company, joint venture, syndicate or other group which
may collectively constitute Tenant hereunder, shall result in changing the control of Tenant or such other corporation or such
partnership, limited liability company, joint venture, syndicate or other group, such sale, assignment, transfer or other disposition
shall be deemed an assignment of this Lease. For the purposes of this Section, “control” of any corporation shall
be deemed to have changed, if, in one or more transactions, any person or group of persons purchases or otherwise succeeds to
more than fifty percent (50%) in the aggregate of the voting power for the election of the Board of Directors of such corporation
and “control” of a partnership, a limited liability company, joint venture, syndicate or other group shall be deemed
to have changed if, in one or more transactions, any person or group of persons purchases or otherwise succeeds to more than fifty
percent (50%) in the aggregate of the general partners’ or other active interest in such limited liability company, joint
venture, syndicate or other group.

 

Section 5.3Continuation
of Liability. Regardless of any assignment, subletting or other transfer by Tenant of any of Tenant’s rights or obligations
under this Lease, Tenant shall continue to be and remain liable hereunder. Any violation of any provision of this Lease, whether
by act or omission, by any assignee, subtenant or similar occupant, shall be deemed a violation of such provision by Tenant, it
being the intention and meaning of the parties hereto that Tenant shall assume and be liable to the Landlord for any and all acts
and omissions of any and all assignees, subtenants and similar occupants.

 

Section 5.4Default
after Transfer. If the Premises or any part thereof is sublet or occupied by anybody other than Tenant, Landlord may, after
an Event of Default by Tenant, and without notice to Tenant collect rent from the assignee, subtenant or occupant, and apply the
net amount collected to the Rent due from Tenant, but no such collection shall be deemed an acceptance of the subtenant or occupant
as tenant, or a release of Tenant from the further performance by Tenant of the terms of this Lease.

 

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Section 5.5Recapture.
Landlord shall have the right, within forty five (45) days after Landlord’s receipt of Tenant’s Request, to terminate
this Lease on notice (a “Recapture Notice”) to Tenant. If Landlord gives a Recapture Notice, Tenant shall have five
(5) calendar days from receipt of such Recapture Notice to rescind, in writing, the Tenant’s Request and, upon such rescission,
both the Recapture Notice and Tenant’s Request shall be deemed withdrawn, null and void. If Tenant’s Request is not
so rescinded within the permitted time period, then this Lease shall terminate (in whole if Tenant’s Request is for an assignment
of the Lease or subleasing of all or substantially all of the Premises, or with respect to that part of the Premises which is
the subject of a subletting if Tenant’s Request is for a subletting of less than substantially all of the Premises) (that
portion, whether the whole or a part, of the Premises which is the subject of Tenant’s Request is hereinafter referred to
as the “Subject Portion”) on the date which is thirty (30) days after the date of the Recapture Notice (the “Surrender
Date”). Tenant shall vacate the Subject Portion on or before the Surrender Date and deliver possession of the Subject Portion
to Landlord in the condition required by this Lease. Effective as of the Surrender Date, neither Landlord nor Tenant shall have
any further obligations under this Lease with respect to the Subject Portion, except for those rights and obligations which survive
expiration or termination of the Lease. Effective as of the Surrender Date, all Rent shall be adjusted on a pro rata basis to
reflect the reduced size of the Premises, if applicable.

 

Article 6REPAIRS,
MAINTENANCE AND UTILITIES

 

Section 6.1Tenant’s
Obligations.

 

(a)Except
as otherwise provided in this Lease, Tenant shall, at no cost or expense to Landlord:

 

(i)Repair
the interior of the Premises as and when needed to preserve them in good working order and condition;

 

(ii)Provide
for janitorial services and general cleaning of the Premises;

 

(iii)Provide
interior pest control

 

(b)If
the Premises has a point of entry and exit on the exterior of the Building, Tenant shall keep the sidewalk adjoining the Premises
free from rubbish, dirt, garbage and other refuse.

 

(c)All
damage to the Premises or Building, or to their fixtures, appurtenances and equipment caused by Tenant, its servants, employees,
agents, visitors or licensees, shall be repaired promptly by Tenant at no cost or expense to Landlord and to Landlord’s reasonable
satisfaction. Tenant shall cause all Repairs to be made in a good and workmanlike manner and in accordance with the provisions
of this Lease. If after twenty (20) days’ notice Tenant has failed to proceed with due diligence to make the required Repairs
the same may be made by Landlord at Tenant’s expense, and any expense incurred by Landlord, for said Repairs shall be paid
to Landlord as Additional Rent within ten (10) calendar days after delivery of a bill or statement to Tenant.

 

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(d)Any
supplemental HVAC units, whether installed by Landlord or Tenant or left by a previous tenant, and any Tenant installed lighting
shall be Tenant’s sole responsibility to maintain and repair. Landlord shall have no obligation to repair, maintain or replace
such HVAC units or lighting.

 

(e)Tenant
is required to separate waste in accordance with Legal Requirements.

 

Section 6.2Landlord’s
Obligations and Services.

 

(a)Landlord
agrees to make all Repairs to the major electrical failures in excess of $200.00, (but not including general maintenance items,
i.e. light bulbs, light fixtures and lighting ballasts), the structural, plumbing and mechanical portions and exterior surfaces
of the Building, the roof, the roof gutters, and operate and Repair the Common Areas.

 

(b)Landlord
shall additionally provide the following services to Tenant:

 

(i)Operation
and Repair of HVAC System in a manner consistent with the standard to which similar properties are maintained in the area, the
cost of same being included in Operating Expenses. Air cooling and heat. Tenant agrees to abide by all regulations and requirements
which Landlord may reasonably prescribe for the proper functioning and protection of the HVAC System. Landlord shall have free
access to any and all components of the HVAC System; and Tenant agrees that there shall be no construction of partitions or other
obstructions which might interfere with Landlord’s full access thereto. Tenant agrees that Tenant, its agents, employees
or contractors shall not at any time enter the said enclosures or tamper with, adjust, touch or otherwise in any manner affect
the HVAC System.

 

(c)Tenant
acknowledges that Landlord shall not be providing the security which Tenant may require with respect to its Permitted Use(s).

 

(d)Landlord
reserves the right to undertake such Complex-wide Repairs and provide such Complex-wide services as it deems necessary to preserve
and promote the good physical condition of the Building and such costs shall be deemed Operating Expenses.

 

Section 6.3Utilities.

 

(a)The
following utilities will be made available at the Premises:

 

(i)electricity
for the Premises, which shall be directly metered, billed to and paid by Tenant.

 

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(ii)water
service, the cost of which shall be included in Operating Expenses.

 

(iii)sewer
service, the cost of which shall be included in Operating Expenses.

 

(b)Tenant
agrees to pay or cause to be paid all charges for utilities of any kind which are billed directly to Tenant, and agrees to indemnify,
defend and save Landlord harmless against any liability or damages for such charges.

 

(c)Tenant
covenants and agrees that its use of utility services will not exceed either the capacity or maximum load of the utility lines
serving the Premises or which may from time to time be prescribed by applicable Governmental Authorities.

 

(d)Unless
the direct and proximate result of the gross negligence or willful misconduct of Landlord, its agents, servants or employees, Landlord
shall in no event be liable or responsible to Tenant for any loss, damage or expense which Tenant may sustain or incur if either
the quantity or character of utility services is changed or is no longer available or suitable for Tenant’s purposes.

 

Article 7COMPLIANCE
WITH LAW

 

Section 7.1Legal
Requirements. Tenant shall, at its expense throughout the Term, promptly comply, or cause compliance, with all Legal Requirements
of all Governmental Authorities which may be applicable to the Premises or the use or manner of use of the Premises.

 

Section 7.2Hazardous
Materials. Tenant agrees to refrain, and to prevent its employees, invitees, agents, contractors and subtenants, from utilizing
or storing any Hazardous Materials in the Complex, except for cleaning fluids and common office supplies in de minimis quantities
for normal cleaning use within the Premises which shall be stored in proper containers and in compliance with Legal Requirements.
Tenant hereby covenants and agrees to indemnify, defend and hold Landlord harmless from and against any and all claims, actions,
administrative proceedings, judgments, damages, penalties, costs, expenses, losses and liabilities of any kind or nature that
arise (indirectly or directly) from or in connection with the presence (or suspected presence), release (or suspected release),
spill (or suspected spill) or discharge (or suspected discharge) of any Hazardous Materials in, on or about the Complex at any
time resulting from the acts or omissions of Tenant, its subtenants or their respective employees, agents or contractors. Without
limiting the generality of the foregoing, the indemnity set forth above shall specifically cover any investigation, monitoring
and remediation costs.

 

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Article 8ALTERATIONS

 

Section 8.1Permitted
Alterations. Tenant shall be permitted to make any Alteration(s) which (i) are not structural in nature and/or do not affect
the structural portions of the Building, (ii) do not exceed Ten Thousand Dollars ($10,000.00) in the aggregate during the Term
and (iii) do not require any permit or other form of legal authority (collectively, “Permitted Alterations”). Any
and all other Alterations shall require the prior written consent of Landlord, which consent shall not be unreasonably withheld.

 

Section 8.2Requirements.

 

(a)All
Alterations, including Permitted Alterations, shall be made at no cost or expense to Landlord.

 

(b)Tenant
shall submit to Landlord a copy of any plans and specifications prepared in connection with any Alteration except Permitted Alterations
(including layout, architectural, mechanical and structural drawings).

 

(c)Before
commencing any Alteration, Tenant shall provide, or shall cause its contractor to provide, any necessary and appropriate riders
for fire and extended coverage, and commercial general liability and property damage insurance, covering the risks during the course
of such Alteration and obtain and pay for all necessary permits and authorizations. Landlord agrees to join in the application
for such permits or authorizations upon request of Tenant if necessary provided Landlord is promptly reimbursed for any filing
or other costs, fees or expenses incurred and Tenant otherwise indemnifies Landlord for all losses, costs, claims and expenses
incurred by Landlord in connection therewith.

 

(d)All
Alterations shall be made with reasonable diligence, in a good and workmanlike manner, by contractor(s) approved by Landlord in
Landlord’s sole discretion and in compliance with all applicable Legal Requirements. Upon completion, Tenant shall obtain
and deliver to Landlord any necessary amendment to the certificate of occupancy.

 

Section 8.3Ownership.
All Alterations shall remain the property of Tenant and shall be removed by Tenant upon expiration or earlier termination
of the Lease. Notwithstanding the foregoing, Tenant may request Landlord’s consent to abandon any Alteration(s) provided
such request is submitted to Landlord, in the form of a Notice, prior to commencing the Alteration. Landlord may grant or withhold
its consent to such request in Landlord’s sole discretion and failure of the Landlord to respond to such request shall be
deemed a denial. Any Alteration abandoned by Tenant with Landlord’s consent shall immediately become the sole property of
Landlord.

 

Article 9INSURANCE

 

Section 9.1Tenant’s
Coverages.

 

(a)Commencing
with the Commencement Date and throughout the Term, Tenant shall, at Tenant’s cost and expense, provide and cause to be maintained:

 

(i)commercial
general liability insurance (including contractual liability coverage) issued on an occurrence basis, insuring against claims for
bodily injury, death or property damage that may arise from or be occasioned by (x) the condition, use or occupancy of the Premises,
the sidewalks adjacent thereto, and the loading docks and other appurtenances, or (y) any act, omission or negligence of Tenant,
its subtenants, or their respective contractors, licensees, agents, servants, employees, invitees or visitors; such insurance to
afford minimum protection of not less than $1,000,000.00 combined single limit per occurrence. The liability insurance requirements
hereunder may be reviewed by Landlord every two (2) years for the purpose of increasing (in consultation with their respective
insurance advisors) the minimum limits of such insurance from time to time to limits which shall be reasonable and customary for
similar facilities of like size and operation in accordance with generally accepted insurance industry standards;

 

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(ii)commercial
property insurance (including coverages against loss or damage by fire, lightning, windstorm, hail, explosion, vandalism and malicious
mischief, riot and civil commotion, smoke and all other perils now or hereafter included in extended coverage endorsements) covering
Tenant’s merchandise, inventory, trade fixtures, furnishings, equipment and leasehold improvements for the full replacement
value on an agreed amount basis, including all items of personal property of Tenant located on, in or about the Premises, in an
amount equal to one-hundred percent (100%) of the actual replacement cost thereof (with provisions for a deductible as shall be
reasonable in comparison with similar properties);

 

(iii)business
interruption insurance in such amounts as will reimburse Tenant for direct and indirect loss of earnings attributable to those
events commonly insured against by reasonably prudent tenants and/or attributable to Tenant’s inability to access or occupy
all or part of the Premises; and

 

(iv)during
performance of any Alteration, Tenant shall maintain Worker’s Compensation, public liability and builder’s risk form
of casualty insurance in amounts appropriate to the status of the construction being performed by Tenant. In addition, all contractors
working on behalf of Tenant shall provide evidence of coverage, equal to the requirements of Tenant, and in the case of the public
liability and builder’s risk form of casualty insurance policies, naming Landlord as an additional insured.

 

(b)If
Tenant fails to maintain the required insurance the same may be purchased by Landlord at Tenant’s expense, and any expense
therefor incurred by Landlord, with interest thereon at the Interest Rate, shall be paid to Landlord as Additional Rent after receipt
of a bill or statement.

 

(c)All
insurance policies required to be maintained by Tenant pursuant to this Article shall be effected under policies issued by insurers
which are permitted to do business in the State where the Complex is situated and rated “A/VIII” by A.M. Best Company,
or any successor thereto. Tenant shall provide to Landlord, and to any Fee Mortgagee, certificates of the policies required to
be maintained pursuant to this Lease. Each such policy shall contain a provision that no act or omission of the insured shall affect
or limit the obligation of the insurance company to pay the amount of any loss sustained and an agreement by the insurer that such
policy shall not be modified or canceled without at least 30 days’ prior notice to Landlord and to any Fee Mortgagee.

 

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(d)All
policies of insurance provided for under this Article, except Workers’ Compensation, shall name Tenant as the insured, and
except for Workers’ Compensation, shall name Landlord, “OAKLAND COMMERCE CENTER LLC and Landlord’s managing
agent, PIMO CAPITAL MANAGEMENT” as additional insureds, along with any Fee Mortgagee pursuant to a standard first
mortgagee clause, subject in all respects to the terms of this Lease.

 

(e)Any
insurance provided for in this Article may be effected by a blanket policy or policies of insurance, provided that the amount of
the total insurance available shall be at least the protection equivalent to separate policies in the amounts herein required,
and provided further that in other respects, any such policy or policies shall comply with the provisions of this Article. An increased
coverage or “umbrella policy” may be provided and utilized to increase the coverage provided by individual or blanket
policies in lower amounts, and the aggregate liabilities provided by all such policies shall be satisfactory provided they otherwise
comply with the provisions of this Article.

 

(f)Each
policy carried by Tenant shall be written as a primary policy not contributing with, and not in excess of, coverage carried by
Landlord and/or Landlord’s managing agent.

 

Section 9.2Landlord’s
Coverages. Commencing with the Commencement Date and throughout the Lease Term, Landlord shall maintain, or cause to be maintained:

 

(a)commercial
property insurance covering the Complex, in an amount equal to one-hundred percent (100%) of the actual replacement cost thereof
(exclusive of the cost of excavations, pavement, foundations and footings) with or without provisions for a deductible as shall
be reasonable in comparison with similar properties;

 

(b)commercial
general liability insurance (including contractual liability) covering the Common Areas, in an amount not less than $5,000,000
for personal and bodily injury to all persons in any one occurrence and for property damage;

 

(c)rent
insurance, for the benefit of Landlord, covering the risks referred to in Paragraph (a) above, in an amount equal to all Rent payable
for a period of twelve (12) months commencing on the date of loss;

 

(d)if
at any time a steam boiler or similar equipment is located in, on or about the Building, a policy insuring against loss or damage
due to explosion, rupture or other failure of any boiler, pipes, turbines, engines or other similar types of equipment; and

 

(e)other
coverage as Landlord may reasonably deem necessary and appropriate.

 

If by reason of
failure of Tenant to comply with the provisions of this Lease, including but not limited to the manner in which Tenant uses or
occupies the Premises, Landlord’s insurance rates shall on the Commencement Date or at any time thereafter be higher than
such rates otherwise would be, then Tenant shall reimburse Landlord, as Additional Rent hereunder, for that part of all insurance
premiums thereafter paid or incurred by Landlord, which shall have been charged because of such failure or use by Tenant, and Tenant
shall make such reimbursement upon the first day of the month following the billing to Tenant of such additional cost by Landlord.

 

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Section 9.3Waiver
of Subrogation. Every insurance policy carried by either party shall include provisions denying to the insurer subrogation
rights against the other party and any Fee Mortgagee to the extent such rights have been waived by the insured prior to the occurrence
of damage or loss. Each party hereby waives any rights of recovery against the other party for any direct damage or consequential
loss covered by said policies against which such party is protected, or required hereunder to be protected, by insurance or (by
the inclusion of deductible provisions therein or otherwise) has elected to be self-insured, to the extent of the proceeds paid
under such policies and the amount of any such self-insurance, whether or not such damage or loss shall have been caused by any
acts or omissions of the other party.

 

Article 10DAMAGE
AND DESTRUCTION; EMINENT DOMAIN

 

Section 10.1Termination
Due to Damage or Destruction. If the Premises, or any portion thereof, shall be damaged by fire or other casualty, Tenant
shall immediately give Notice thereof to Landlord. If the Building shall be damaged or destroyed to the extent that the estimated
cost of repair or restoration of the damage or destruction shall be in excess of twenty five percent (25%) of the replacement
cost of the Building, then Landlord shall have the right to terminate this Lease by giving notice of such election to Tenant within
sixty (60) days after such damage or destruction shall have occurred. If such notice shall be given, this Lease shall terminate
as of the date of Tenant’s receipt of such Notice. Landlord shall not be required to restore or rebuild the damaged or destroyed
Premises, or any portion thereof, and all insurance proceeds payable on account of such damage or destruction may be retained
by Landlord.

 

Section 10.2Taking.

 

(a)If
a Taking of all or substantially all of the Premises occurs, then this Lease shall terminate as of the Vesting Date. If there is
a Taking of less than substantially all of the Premises, then this Lease shall terminate on the Vesting Date with respect to the
portion so taken.

 

(b)If
there is a Taking of part of the Complex but none of or less than substantially all of the Premises, Landlord may elect to terminate
this Lease if (i) there is any Taking occurring during the last two (2) years of the Term; or (ii) in Landlord’s reasonable
judgment, it shall not be economically feasible to restore and replace the Building, the Premises, the Common Areas, the Complex
or part thereof, to tenantable condition capable of being operated as a mixed use complex in an economical manner. If Landlord
elects to terminate this Lease pursuant to this Section, Landlord shall, within one hundred twenty (120) days of the Taking, give
notice to Tenant, and the Term shall expire as of the last day of the calendar month in which such Notice is given.

 

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(c)If
there is a Taking of more than thirty-three (33%) of the Square Feet of the Premises, Tenant, subject to Landlord’s lenders’
requirements, may elect to terminate this Lease if, by reason of the Taking there is a prohibition of the use of the Premises for
Tenant’s actual permitted use thereof. If Tenant elects to terminate this Lease pursuant to this Section, Tenant shall, within
one hundred twenty (120) days of the Taking, give Notice to Landlord, and the Term shall expire and come to an end as of the last
day of the calendar month in which such Notice is given.

 

(d)If
there is a Taking, then commencing on the Vesting Date, Base Rent shall be the product of (i) Base Rent immediately preceding the
Taking, and (ii) a fraction, the numerator of which shall be the number of Square Feet within the Premises remaining after the
Taking, and the denominator of which shall be the number of Square Feet within the Premises immediately preceding the Taking.

 

(e)Tenant
shall not be entitled to and hereby waives any and all claims against Landlord for any compensation or damage for loss of use of
the Premises, the Common Areas or any portion thereof, for any interruption of services required to be provided by Landlord hereunder,
and/or for any inconvenience or annoyance resulting from any damage, destruction, repair or restoration.

 

(f)All
compensation awarded or paid in respect of a Taking shall belong to and be the property of Landlord without any participation by
Tenant. Nothing herein shall be construed to preclude Tenant from prosecuting any claim directly against the condemning authority
in such condemnation proceeding for moving expenses; any fixtures or equipment owned by Tenant; and the unamortized cost of Tenant’s
improvements, provided that no such claim shall (x) diminish or otherwise adversely affect Landlord’s award or the award
of any Fee Mortgagee, or (y) include any value for the leasehold estate created hereby or the unexpired term of this Lease.

 

Section 10.3Restoration
by Landlord. If the whole or any part of the Premises or Building shall, during the Term, be damaged or destroyed by fire
or other casualty, or any portion of the Premises be Taken, and this Lease is not terminated pursuant to the terms hereof, Landlord
shall, to the extent of insurance proceeds or award received by Landlord, repair, restore and/or rebuild the Premises and or Building
substantially to the condition and character existing as of the Commencement Date. In no event shall Landlord be required to repair
or replace any Personalty.

 

Article 11RENT
ABATEMENT

 

(a)For
purposes of this Article only, the Premises, or any portion thereof, shall be considered “Untenantable” if Tenant
is, in fact, unable to engage in its regular business practices in the Premises due to (i) damage or destruction, (ii) loss of
utilities, HVAC or elevator service, which loss is within the ability of Landlord to control, or (iii) a Taking, and (iv) the Premises
is not rendered Untenantable by reason of any negligent or willful act of Tenant, its agents, servants or employees.

 

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(b)If
all or part of the Premises are rendered Untenantable, Tenant shall, within five (5) business days after the occurrence, notify
Landlord that the Premises, or a part thereof, has been rendered Untenantable (a “Rent Abatement Notice”). The
Rent Abatement Notice shall be in writing, shall specify (i) the nature of the cause of the Untenantability, (ii) the area(s) of
the Premises Tenant claims to be Untenantable and (iii) the date the space became Untenantable. The Rent Abatement Notice shall
be delivered to Landlord in the manner required under this Lease for delivery of Notices. If a Rent Abatement Notice is not delivered
to Landlord within the time and in the manner set out herein, then Tenant shall be deemed to have waived any right to abatement
of Rent.

 

(c)If
the Premises are rendered Untenantable, in whole or in part, for a period of ten (10) or more business days, and the Lease is not
terminated pursuant to the provisions hereof then Rent shall abate proportionately to the portion of the Premises rendered Untenantable
from the date of the event causing the Untenantability and continuing until the Untenantability is remediated (the “Abatement
Period”). However, the necessity for the completion of any repair, restoration or other work to be performed by Tenant
shall not provide the basis for abatement of Rent.

 

(d)Determination
of the percentage of Rent to be abated shall be reasonably made by Landlord. If Landlord and Tenant disagree on the extent of the
Untenantability of the Premises, an appropriate third-party professional, designated by Landlord and reasonably acceptable to Tenant,
shall certify to Landlord and Tenant as to the condition of the Premises (the “Abatement Certification”), which
Abatement Certification shall be binding upon both parties. The cost of obtaining the Abatement Certification shall be borne by
Tenant and reimbursable to Landlord as Additional Rent.

 

(e)Upon
substantial completion of the remediation of the condition resulting in the Untenantability of the Premises, as reasonably determined
by Landlord, the Abatement Period shall terminate. If Landlord and Tenant disagree on the date of substantial completion or the
tenantability of any part of the Premises, an appropriate third-party professional, designated by Landlord and reasonably acceptable
to Tenant, shall certify to Landlord and Tenant as to the condition of the Premises (the “Restoration Certification”),
which Restoration Certification shall be binding upon the parties. The cost of obtaining the Restoration Certification shall be
borne by Tenant and reimbursable to Landlord as Additional Rent.

 

(f)Anything
to the contrary notwithstanding, there shall be no abatement of Rent for any portion of the Premises in which Tenant continues
to operate its business.

 

Article 12QUIET
POSSESSION

 

Provided no Event
of Default remains uncured, Tenant shall have and enjoy, possession and use of the Premises and all appurtenances thereto during
the Term, which is quiet and undisturbed by Landlord, subject to the terms of this Lease. This covenant shall be construed as running
with Landlord’s estate as owner of the Premises and is not, nor shall it operate or be construed as, a personal covenant
of Landlord, except to the extent of Landlord’s interest in the Premises and shall be binding upon successor owners. Tenant
shall not, through its acts or omissions, or the acts or omissions of Tenant’s employees, agents, servants or contractors,
disturb the quiet possession of any other tenant or occupant of the Building.

 

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Article 13DEFAULT;
REMEDIES AND DAMAGES

 

Section 13.1Events
of Default. Each of the following shall be deemed an “Event of Default”:

 

(a)any
failure by Tenant to pay Base Rent on the date it was payable under this Lease, or any failure by Tenant to pay Additional Rent
or other sum of money payable under this Lease within ten (10) days after notice from Landlord that such payment of Additional
Rent or other sum is due;

 

(b)any
interest of Tenant passes to another except as permitted under Article 5;

 

(c)if
proceedings in bankruptcy shall be instituted by or against any Tenant or guarantor of this Lease, or if any Tenant or guarantor
of this Lease shall file, or any creditor or other person shall file, any petition in bankruptcy under any law, rule or regulation
of the United States of America or of any State, or if a receiver of the business or assets of Tenant or of any guarantor of this
Lease shall be appointed, or if a general assignment is made by Tenant for the benefit of creditors, or any sheriff, marshal, constable
or other duly constituted public official takes possession of the Premises, or any part thereof, by authority of any attachment
or execution proceedings, and offers same for sale publicly, and, with respect to any of the foregoing actions which shall be involuntary
on Tenant’s part, such action is not vacated or withdrawn within thirty (30) days thereafter;

 

(d)failure
to pay Rent in a timely fashion three (3) or more times in any twelve (12) calendar month period or four (4) or more times during
the Term;

 

(e)any
other failure by Tenant to perform any of the other terms, of this Lease (for which Notice and/or cure periods are not otherwise
set forth in this Lease) for more than twenty (20) days after notice of such default shall have been given to Tenant, or if such
default is of such nature that it cannot with due diligence be completely remedied with said period of twenty (20) days such longer
period of time as may be reasonably necessary to remedy such default provided Tenant shall commence within said period of twenty
(20) days and shall thereafter diligently prosecute to completion, all steps necessary to remedy such default, but in no event
more than ninety (90) days after notice of such default shall have been given to Tenant; and

 

(f)an
Event of Default provided for under any other section of this Lease.

 

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Section 13.2Remedies.

 

(a)If
an Event of Default shall occur, Landlord shall, in addition to any other right or remedy available at law, in equity or otherwise,
have the right:

 

(i)to
bring suit for the collection of Rent and/or other amounts for which Tenant may be in default, or for the performance of any other
covenant or agreement devolving upon Tenant, all with or without entering into possession or terminating this Lease;

 

(ii)terminate
this Lease and dispossess Tenant and any other occupants thereof, remove their effects not previously removed by them and hold
the Premises free of this Lease; or

 

(iii)without
terminating this Lease, re-enter the Premises by summary proceedings and dispossess Tenant and any other occupants thereof, remove
their effects not previously removed by them and hold the Premises free of this Lease. No such re-entry or taking possession of
the Premises by Landlord shall be construed as election on its part to terminate this Lease unless a written notice of such intention
be given to Tenant or unless such termination is decreed by a court of competent jurisdiction. Landlord may remove all persons
and property from the Premises in accordance with this Section, and store such property in a public warehouse or elsewhere at the
cost of and for the account of Tenant, without service of notice or resort to legal process (all of which Tenant expressly waives)
and without being guilty of trespass or becoming liable for any loss which may be occasioned thereby;

 

(b)After
such a dispossession or removal, (i) Landlord may re-let the Premises or any part or parts thereof, for a term or terms which may,
at the option of Landlord, be less than or exceed the period which would otherwise have constituted the balance of the Term, and
(ii) Tenant shall pay to Landlord any deficiency between the Rent due hereunder plus the reasonable costs and expenses incurred
or paid by Landlord in terminating this Lease or in re-entering the Premises and in securing possession thereof, as well as the
expenses of re-letting the Premises, including, without limitation, repairing, altering and preparing the Premises for new tenants,
brokers’ commissions, legal fees, and other expenses and concessions (“Default Costs”), and the amount of rents
and other charges collected on account of the new lease or leases of the Premises which would otherwise have constituted the balance
of the Term (not including any renewal periods, the commencement of which shall not have occurred prior to such dispossession or
removal). Landlord reserves the right to bring actions or proceedings for the recovery of any deficits remaining unpaid without
being obliged to await the end of the Term for a final determination of Tenant’s account, and the commencement or maintenance
of any one or more actions or proceedings shall not bar Landlord from bringing other or subsequent actions or proceedings for further
accruals pursuant to the provisions of this Section. Any rent received by Landlord from such re-letting shall be applied first
to the payment of any indebtedness (other than Rent due hereunder) of Tenant to Landlord; second, to the payment of any Default
Costs; third, to the payment of Rent due and unpaid hereunder, and the balance, if any, shall be held by Landlord and applied in
payment of future Rent as it may come due and payable hereunder.

 

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(c)Landlord
agrees to use commercially reasonable efforts to mitigate any damages occasioned by Tenant’s default. Tenant agrees that
Landlord’s duty to mitigate (i) shall arise only after Landlord regains possession of the Premises, (ii) shall be deemed
satisfied if Landlord has used commercially reasonable efforts to relet the Premises, whether or not such efforts are successful,
and (iii) shall not require Landlord to market the Premises ahead of other space which is vacant or about to become vacant in properties
owned by Landlord or its affiliates within five (5) miles of the Premises.

 

(d)Payments
of Rent not received by Landlord when due shall accrue interest at the Interest Rate from the date on which such payment as due
until the date full payment (including accrued interest) is received by Landlord.

 

(e)In
addition to the foregoing, if an Event of Default shall occur other than as to the payment of Rent, Landlord, in addition to any
other right or remedy available at law or in equity, shall have the right, but not the obligation, to cure such failure. Notwithstanding
the above, if, in Landlord’s reasonable judgment, an emergency shall exist, Landlord may cure such Event of Default upon
such Notice to Tenant as may be reasonable under the circumstances (and may be without any prior notice if the circumstances shall
so require). If Landlord cures such failure, Tenant shall pay to Landlord on demand, as Additional Rent, the reasonable and necessary
cost or amount thereof, together with interest thereon at the Interest Rate from the date of outlay of expense until payment.

 

(f)If
there is a breach by Tenant, or any persons claiming through or under Tenant, of any term, covenant or condition of this Lease,
Landlord shall have the right to enjoin such breach and the right to invoke any other remedy allowed by law or in equity as if
re-entry, summary proceedings and other special remedies were not provided in this Lease for such breach.

 

(g)The
right to invoke the remedies set forth herein is cumulative and shall not preclude Landlord from invoking any other remedy allowed
at law, in equity or otherwise.

 

Article 14UNAVOIDABLE
DELAYS, FORCE MAJEURE

 

With the exception
of Tenant’s obligation to pay Rent, if Landlord or Tenant shall be prevented or delayed from punctually performing any obligation
or satisfying any condition under this Lease by any strike, lockout, labor dispute or other labor trouble, inability to obtain
labor, materials or reasonable substitutes therefor, act of God, weather, soil conditions, site conditions, present or future governmental
restrictions, regulation or control, governmental pre-emption or priorities or other conflicts in connection with a national or
other public emergency or shortages of fuel, supply of labor resulting therefrom, insurrection, sabotage, fire or other casualty,
or any other condition beyond the control of the party required to perform, other than unavailability of funds or financing (individually
and collectively “Unavoidable Delays”), then the time to perform such obligation or satisfy such condition shall be
extended by the delay caused by such event. If either party shall, as a result of an Unavoidable Delay, be unable to exercise any
right or options within any time limit provided therefor in this Lease, such time limit shall be deemed extended for a period equal
to the duration of such Unavoidable Delay. This Lease and the obligations of Tenant to pay Rent hereunder and perform all of the
other covenants, agreements, terms, provisions and conditions hereunder on the part of Tenant to be performed shall in no way be
affected, impaired or excused because Landlord is unable to fulfill any of its obligations under this Lease as a result of any
Unavoidable Delay.

 

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Article 15NOTICES

 

(a)Unless
specifically provided to the contrary in this Lease, any notices to be given under this Lease or pursuant to any law or governmental
regulation (individually and collectively, a “Notice”) by Landlord to Tenant or by Tenant to Landlord shall be in writing
(whether or not expressly so provided) and delivered to the recipient at the respective addresses set forth in the Basic Provisions
of this Lease, or, in the case of Notices to Tenant, to the Premises.

 

(b)Notices
shall be deemed delivered and received upon (i) personal delivery; (ii) three (3) calendar days after being deposited in the United
States mail, registered or certified mail, return receipt requested, postage prepaid; or (iii) one (1) business day after being
sent by overnight express mail or nationally recognized courier service (e.g., Federal Express) to Landlord or Tenant, at the respective
addresses set forth in the Basic Provisions of this Lease. Notices may be signed by the attorneys for the party on whose behalf
the notice is sent. Changes in addresses shall be designated by written notice as provided in this Article.

 

Article 16ACCESS

 

Landlord and any
Fee Mortgagee and any lessor under any ground or underlying lease, and their respective representatives, may enter the Premises
at all times, upon reasonable advance notice to Tenant, for the purposes of (a) responding to emergency situations, (b) inspection,
(c) making Repairs, replacements or improvements in or to the Premises or the Building or equipment, (d) performing other obligations
of Landlord or Tenant pursuant to this Lease, (e) complying with any Legal Requirements, (f) exercising any right reserved to Landlord
by this Lease (including the right during the progress of any such Repairs, replacements or improvements or while performing work
and furnishing materials in connection with the compliance with any such Legal Requirements to keep and store within the Premises
all necessary materials, tools and equipment) or (g) during the period commencing twelve (12) months prior to the end of the Term,
for the purpose of exhibiting same to prospective tenants. Nothing herein contained, however, shall be deemed to impose upon Landlord
or any Fee Mortgagee or lessor, any obligation or liability whatsoever for the care, supervision or repair of the Premises or Building
or any parts thereof other than as herein provided. If a representative of Tenant shall not be personally present to open and permit
an entry into the Premises at any time when an entry shall be reasonably necessary or permissible hereunder, Landlord or its agents
may enter by a master key or may, in case of emergency, forcibly enter without rendering Landlord or its agents liable therefor.
Without incurring any liability to Tenant, Landlord may permit access to the Premises, whether or not Tenant shall be present,
upon demand of any receiver, trustee, assignee for the benefit of creditors, sheriff, marshal or court officer entitled to, or
reasonably purporting to be entitled to, such access for the purpose of taking possession of, or removing, Tenant’s property
or for any other lawful purpose (but this provision and any action by Landlord hereunder shall not be deemed a recognition by Landlord
that the person or official making such demand has any right or interest in or to this Lease, or in or to the Premises), or upon
demand of any representative of the fire, police, building, sanitation or other department of Governmental Authorities.

 

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Article 17SIGNS

 

Tenant shall place
no signs upon the Premises, Building or Complex except as permitted by Landlord in its sole discretion. Tenant acknowledges and
agrees that Landlord may desire to have standardized signage and Tenant agrees to conform with such signage requirements.

 

Article 18END
OF TERM

 

Upon the expiration
or other termination of the Term, Tenant shall surrender the Premises to Landlord. The Premises shall be delivered in substantially
the same condition as on the Commencement Date, broom clean, in good order and condition, reasonable wear and tear excepted, and
otherwise in accordance with the terms of this Lease. Any Rent which is payable to the Expiration Date or earlier termination of
this Lease which is not then ascertainable shall be paid to Landlord when the same is determined. Any Personalty remaining in the
Premises after possession of the Premises has been returned to Landlord shall be deemed abandoned by Tenant to Landlord. Landlord
shall have the right to dispose of the Personalty in any manner Landlord deems appropriate. Tenant agrees to indemnify and hold
Landlord harmless from any and all (i) costs and expenses incurred by Landlord for the removal or disposal of the abandoned Personalty,
and (ii) claims by third parties for ownership, obligation, payment, debt, loss or damage to any item or items of Personalty so
abandoned. The provisions of this Article shall survive the Expiration Date or earlier termination of this Lease.

 

Article 19HOLDING
OVER

 

Should Tenant hold
over in possession after the Expiration Date, such holding over shall not be deemed to extend the Term or renew this Lease. Tenant
agrees to indemnify and save Landlord harmless from and against all claims, losses, damages, liabilities, costs and expenses (including,
without limitation, reasonable attorneys’ fees and disbursements) resulting from delay by Tenant in surrendering the Premises,
including, without limitation, any claims made by any succeeding tenant founded on such delay. The parties recognize and agree
that the damage to Landlord resulting from any failure by Tenant to timely surrender possession of the Premises will be extremely
substantial, will exceed the amount of the Rent and will be impossible to accurately measure. Tenant therefore agrees that if possession
of the Premises is not surrendered to Landlord on the Expiration Date, in addition to any other rights and remedies Landlord may
have hereunder or at law, and without in any manner limiting Landlord’s right to demonstrate and collect any damages suffered
by Landlord and arising from Tenant’s failure to surrender the Premises as provided herein, Tenant shall pay to Landlord
on account of use and occupancy of the Premises for each month during which Tenant holds over after the Expiration Date, a sum
equal to two hundred percent (200%) of the aggregate of that portion of the Rent which was payable under this Lease during the
last month of the Term. Nothing herein shall be deemed to permit Tenant to retain possession of the Premises after the Expiration
Date or to limit in any manner Landlord’s right to regain possession of the Premises through summary proceeding or otherwise,
and no acceptance by Landlord of payments from Tenant after the Expiration Date shall be deemed to be other than on account of
the amount to be paid by Tenant in accordance with the provisions of this Article. The provisions of this Article shall survive
the Expiration Date.

 

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Article 20INDEMNITY

 

Section 20.1Indemnity.

 

(a)Tenant
shall not do or permit any act or thing to be done in or about the Complex which may subject Landlord to any liability or responsibility
for injury, damages to persons or property or to any liability by reason of any violation of any Legal Requirement. Tenant shall
exercise such control over the Premises as to fully protect Landlord against any such liability. Tenant shall indemnify and save
the Landlord, the members comprising Landlord and its and their partners, shareholders, members, officers, directors, employees,
agents and contractors (the “Landlord’s Indemnitees”) harmless from and against (i) all claims of whatever nature
against the Landlord’s Indemnitees arising from any act, omission or negligence of Tenant, its contractors, licensees, agents,
servants, employees, invitees or visitors (including, without limitation, statutory liability and liability under worker’s
compensation laws), (ii) all claims against the Landlord’s Indemnitees arising from any accident, injury or damage whatsoever
caused to any person or to the property of any person by Tenant, its contractors, licensees, agents, servants, employees, invitees
or visitors and occurring during the Term in or about the Premises, and (ii) any breach, violation or non-performance of any covenant,
condition or agreement in this Lease which devolves upon Tenant.

 

(b)Landlord
agrees to indemnify and hold Tenant, its agents, servants and employees, harmless from any loss or damages, including reasonable
attorneys’ fees and costs, resulting from the gross negligence or willful misconduct of Landlord, its agents, servants and
employees.

 

(c)The
foregoing indemnifications shall include indemnity from and against any and all liability, fines, suits, demands, costs and expenses
of any kind or nature (including, without limitation, attorneys’ fees and disbursements) incurred in or in connection with
any such claim or proceeding brought thereon, and the defense thereof.

 

Section 20.2Defense.
If any claim, action or proceeding is made or brought against Landlord, Tenant, or any Indemnitees, which either Landlord
or Tenant shall be obligated to indemnify against pursuant to the terms of this Lease, then, upon demand by any indemnified party,
the indemnitor, at its sole cost and expense, shall defend such claim, action or proceeding in the name of such indemnified party,
if necessary, by such attorneys as such indemnified party shall approve, which approval shall not be unreasonably withheld. Attorneys
for the indemnitor’s insurer are hereby deemed approved for purposes of this Section. The provisions of this Section shall
survive the expiration or earlier termination of this Lease.

 

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Article 21SUBORDINATION

 

Section 21.1Fee
Mortgage. Landlord shall have the right at any time during the Term to subject its interest in the Premises, the Building,
the Complex and/or this Lease to any one or more mortgages on Landlord’s interest therein (“Fee Mortgage”) and
to renew, modify, consolidate, replace, extend and/or refinance any such Fee Mortgage. Landlord shall be entitled to all of the
proceeds from any such Fee Mortgage at any time effected pursuant hereto.

 

Section 21.2Subordination.
This Lease shall at all times be subordinate to any Fee Mortgage. The foregoing provisions shall be self-operative and no
further instrument of subordination shall be required. If Landlord or any holder of any Fee Mortgage desires confirmation of such
subordination, Tenant shall promptly execute, without charge therefor, any certificate that Landlord or the Fee Mortgagee may
request, provided that such certificate does not modify the terms of this Lease.

 

Section 21.3Attornment.
Notwithstanding the provisions of Section 21.2, should any Fee Mortgagee require that this Lease be prior rather than subordinate
to any such Fee Mortgage, Tenant shall, within ten (10) days after request therefor by Landlord or such Fee Mortgagee, and without
charge therefor, execute a document effecting or acknowledging such priority, which document shall contain, at the option of such
requesting party, an attornment to the Fee Mortgagee, or any person acquiring the interest of Landlord as a result of any foreclosure
or the granting of a deed in lieu of foreclosure, as landlord, upon the then executory terms and conditions of this Lease for
the remainder of the Term. If a Fee Mortgage is foreclosed or title to the Premises transferred to a Fee Mortgagee by deed in
lieu of foreclosure, Tenant shall attorn to Landlord’s successor.

 

Article 22CERTIFICATES

 

On the request of
either party, Landlord and Tenant shall execute, acknowledge and deliver to each other, within ten (10) days after request, a written
instrument, duly executed and acknowledged, (i) certifying that this Lease has not been modified and is in full force and effect
or, if there has been a modification, that this Lease is in full force and effect as modified, stating such modification, and that
this Lease is the only lease between Landlord and Tenant affecting the Premises, (ii) specifying the dates to which Rent has been
paid, (iii) stating whether or not, to the knowledge of the party executing such instrument, the other party hereto is in default
and, if so, stating the nature of such default, (iv) stating whether or not there are then existing any credits, offsets or defenses
against the enforcement of any provisions of this Lease, (v) stating the Commencement Date and the Expiration Date, (vi) stating
which of any options to extend the Term have been exercised, (vii) stating that there are no actions, whether voluntary or otherwise,
pending against Tenant under the bankruptcy laws of the United States or any state thereof, and (viii) stating such further information
with respect to the Lease or the Premises as may reasonably be requested. Any such certificate may be relied upon by any prospective
purchaser of the Complex, the Building or the Premises (or any portion of any of the foregoing) or of the interest of Landlord
in any part thereof, by any mortgagee or prospective mortgagee thereof, by a lessor or prospective lessor thereof, by any lessee
or prospective lessee thereof, or by any prospective assignee of any mortgage thereof. The failure of Tenant to execute, acknowledge
and deliver to Landlord a statement in accordance with the provisions of this Article within ten (10) days after request therefor
shall constitute an acknowledgment by Tenant, which may be relied on by any person who would be entitled to rely upon any such
statement, that such statement as submitted by Landlord is true and correct.

 

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Article 23PARKING
SPACES; USE OF EXTERIOR AREAS

 

Section 23.1Parking
Spaces.

 

(a)Tenant
shall, without additional charge, have the use of the number of Parking Spaces stated in the Basic Provisions section of this Lease.
Unless specifically stated otherwise, parking shall be on a non-designated, unassigned basis and in common with Landlord, the other
tenants of the Complex and other vehicles permitted in the Complex.

 

(b)Landlord
reserves the right to issue parking permits, install a gate system, or impose any other system Landlord deems necessary for the
use of the parking area, including requiring Tenant to affix parking stickers or other means of identification and/or furnish Landlord
with the license plate numbers of vehicles operated or controlled by Tenant or its subtenants. Tenant agrees not to permit vehicles
operated or controlled by Tenant or its subtenants to park in parking spaces allocated to others by Landlord. Landlord shall have
the right to have vehicles violating the provisions of this Lease removed from the Complex at the cost and expense of the vehicle’s
owner or operator.

 

(c)Landlord
shall not be required to keep parking spaces clear of unauthorized vehicles or to otherwise supervise the use of the parking area.
Landlord reserves the right to change any existing or future parking area, roads or driveways, and may make any Repairs or alterations
it deems necessary to the parking area, roads and driveways and to temporarily revoke or modify the parking rights granted to Tenant
hereunder, provided that no such change shall permanently reduce the number of available parking spaces nor render the parking
less accessible than at the Commencement Date (except for temporary periods when necessary repairs are being performed).

 

Section 23.2Use
of Exterior Areas.

 

(a)Tenant
shall not use the access driveway, parking areas and loading platforms so as to interfere with the use by others of the access
driveways, parking areas, other loading areas and the vehicular traffic in and out of the Complex.

 

(b)Except
as specifically permitted under this Lease, Tenant shall have no right to use any part of the roof of the Building or the exterior
Building walls.

 

(c)Tenant
may not utilize any portion of the Complex outside of the Premises for storage of any kind.

 

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Article 24WAIVER
PROVISIONS

 

Section 24.1Waivers.

 

(a)Tenant,
on its own behalf and on behalf of all persons claiming through or under Tenant, including all creditors, hereby waives any and
all rights which Tenant and all such persons might otherwise have under any present or future law to redeem the Premises, or to
re-enter or repossess the Premises, or to restore the operation of this Lease, after Tenant shall have been dispossessed by a judgment
or by warrant of any court or judge; or any re-entry by Landlord; or any expiration or termination of this Lease and the Term,
whether such dispossess, re-entry, expiration or termination shall be by operation of law or pursuant to the provisions of this
Lease.

 

(b)Landlord
and Tenant hereby waive trial by jury in any action, proceeding or counterclaim brought by either against the other upon any matters
whatsoever arising out of or in any way connected with this Lease, Tenant’s use or occupancy of the Premises, and/or any
claim of injury or damage. It is further mutually agreed that if Landlord commences any summary proceedings for non-payment of
any Rent, Tenant will not interpose any non-mandatory or non-compulsory counterclaim of whatever nature or description in any such
proceeding.

 

Section 24.2Non-Waiver.

 

(a)The
failure of Landlord to insist upon strict performance of any of the terms, of this Lease shall not be deemed a waiver of any rights
or remedies that Landlord may have and shall not be deemed a waiver of any subsequent breach or default in any of such terms, covenants
or conditions. No provision of this Lease shall be deemed waived by Landlord unless such waiver is granted in writing signed by
Landlord.

 

(b)No
payment by Tenant or receipt by Landlord of a lesser amount than the Rent due shall be deemed to be other than on account of the
earliest Rent then due and payable unless Landlord, in its sole discretion, elects to apply such payment to a later installment
of Rent. No endorsement or statement on any check, or letter accompanying any rent check or payment shall be deemed an accord and
satisfaction, and Landlord may accept the same without prejudice to Landlord’s right to recover any balance due or to pursue
any other remedy in this Lease provided.

 

(c)No
failure by Landlord to enforce any of the Rules and Regulations against Tenant and/or any other tenant or occupant of the Complex
shall be deemed a waiver thereof.

 

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(d)No
receipt of money by Landlord from Tenant with knowledge of the breach of term of this Lease, or after the termination hereof, or
after the service of any notice, or after the commencement of any suit, or after final judgment for possession of the Premises,
shall be deemed a waiver of such breach, nor shall it reinstate, continue or extend the Term, or affect any such notice, demand
or suit.

 

(e)No
action or statement by Landlord or Landlord’s agents shall constitute a cancellation, termination or modification of, or
eviction or surrender under, this Lease, or a waiver of any covenant, condition or provision hereof, nor relieve Tenant of Tenant’s
obligation to pay Rent hereunder. Any acceptance of surrender, waiver or release by Landlord and any cancellation, termination
or modification of this Lease must be in writing signed by Landlord or by Landlord’s duly authorized representative.

 

Article 25MISCELLANEOUS

 

Section 25.1Rules
and Regulations. Tenant shall comply with, and cause its employees, contractors, subtenants, licensees and business invitees
to comply with, the Rules and Regulations. Landlord reserves the right from time to time to suspend, amend or supplement the Rules
and Regulations and Tenant agrees to comply with all such Rules and Regulations upon notice of the same from Landlord. In the
case of any conflict or inconsistency between the provisions of this Lease and any of the Rules and Regulations as originally
promulgated or as changed, the provisions of this Lease shall control. Landlord agrees to make commercially reasonable efforts
to enforce the Rules and Regulations against all tenants in the Complex in a consistent and non-discriminatory manner.

 

Section 25.2Relationship
of Parties. Nothing contained in this Lease shall be construed to create the relationship of principal and agent, partnership,
joint venture or any other relationship between the parties hereto other than the relationship of Landlord and Tenant. Nothing
contained herein shall in any way impose any liability upon the members, officers, partners or directors of Landlord.

 

Section 25.3Recording.
Neither Landlord nor Tenant shall record this Lease nor any memorandum, abstract or other form of this Lease.

 

Section 25.4Captions.
The captions, section numbers, and index appearing in this Lease are inserted only as a matter of convenience and in no way
define, limit, construe, or describe the scope or intent of such sections or articles nor in any way affect this Lease.

 

Section 25.5Applicable
Law. This Lease shall be governed by, and construed in accordance with, the laws of the State in which the Complex is located.

 

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Section 25.6Mechanics’
Liens. Tenant shall not permit any notices of intention, notices of commencement or other similar pre-lien filing documents
or any liens to stand against the Complex or any part thereof, by reason of any work, labor, services or materials done for, or
supplied to, or claimed to have been done for, or supplied to, Tenant or anyone occupying the Premises or any part thereof through
or under Tenant. If any such document or lien shall at any time be filed against the Premises, Tenant shall cause the same to
be discharged of record within ten (10) days after receipt of Notice of the filing of same, by either payment, deposit or bond.
If Tenant shall fail to discharge any such document or lien within such period, then, in addition to any other right or remedy
of Landlord, Landlord may, but shall not be obligated to, procure the discharge of such lien either by paying the amount claimed
to be due, or such greater amount as is otherwise required pursuant to Legal Requirements, by deposit in court or bonding, and/or
Landlord shall be entitled, if Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by
the lienor and to pay the amount of the judgment, if any, in favor of the lienor with interest, costs and allowances. Any amount
paid or deposited by Landlord for any of the aforesaid purposes, and all legal and other expenses of Landlord, including counsel
fees, in defending any such action or in or about procuring the discharge of such lien, with all necessary disbursements in connection
therewith, together with interest thereon at the Interest Rate from the date of payment or deposit, shall become due and payable
forthwith by Tenant to Landlord, or, at the option of Landlord, shall be payable by Tenant to Landlord as Additional Rent.

 

Section 25.7Brokerage.
Landlord and Tenant each represent that it dealt with no broker or brokers or other person in connection with the negotiation,
execution and delivery of this Lease other than Nexvel Properties, LLC, representing the Landlord and Third Rock Realty
representing the Tenant. Landlord agrees to pay any commission due Broker in connection with this Lease pursuant to a separate
agreement. Each party shall defend, indemnify and hold the other harmless from and against any claims or demands for any brokerage
commissions, finder’s fees and/or other compensation resulting from a breach by it of the foregoing representation.

 

Section 25.8Limitation
of Landlord’s Liability; Authority.

 

(a)The
term “Landlord” as used in this Lease means only the owner of the Premises for the time being, so that in the
event of any sale of Landlord’s interest in the Premises or in this Lease, Landlord shall be and hereby is entirely freed
and relieved of all obligations of Landlord with respect to the Premises, and it shall be deemed without further agreement between
the parties and such purchaser(s) or assignee(s) that the purchaser or assignee has assumed and agreed to observe and perform all
obligations of Landlord hereunder relating to the Premises.

 

(b)Except
as the same may be attributable solely to the gross negligence or willful misconduct of the Landlord, its servants, agents, or
employees, (i) all Personalty shall be kept at the sole risk of Tenant and Landlord shall not be considered the voluntary or involuntary
bailee of same, (ii) Landlord shall bear no responsibility for damage or injury to Tenant or any of its officers, agents or employees
or to any other persons or to any Personalty or to the business of the Tenant, or any interruption thereof.

 

(c)It
is specifically understood and agreed that there shall be no personal liability on Landlord in respect to any of the covenants,
conditions, or provisions of this Lease. If there is a breach or default by Landlord under this Lease, Tenant shall look solely
to the equity of Landlord in the Building for the satisfaction of Tenant’s claims, and to no other property or assets of
Landlord. No constituent of Landlord including, without limitation, any agent, partner, member, shareholder, managing agent or
otherwise shall be in any manner personally liable under this Lease.

 

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Section 25.9Attorneys’
Fees. Should any party hereto institute any action or proceeding in court to enforce any provision hereof, or for damages
or for declaratory or other relief hereunder, the prevailing party shall be entitled to receive from the losing party, in addition
to court costs, reasonable attorneys’ fees as determined by the court, and said amount may be made a part of the judgment
against the losing party.

 

Section 25.10Arbitration.
In any case where this Lease provides for the settlement of a dispute by arbitration, said arbitration shall under the auspices
of the American Arbitration Association. The rules of the American Arbitration Association from time to time in effect shall apply
(to the extent appropriate). Any award shall be enforceable by proper proceedings in any court having jurisdiction. The arbitrator,
regardless of how appointed, may determine how the expenses of the arbitration, including reasonable attorney’s fees, and
disbursements of the successful party, shall be borne as between Landlord and Tenant. Nothing in this Section shall preclude Landlord
or Tenant from exercising their rights to make payments or perform any work to cure alleged defaults prior to or during the course
of arbitration, if any delay in complying with any requirements of this Lease by Landlord or Tenant might subject the other to
any fine or penalty, or to prosecution for a crime, or if it would constitute a default by Landlord under any mortgage.

 

Section 25.11Non-Binding
Until Executed. This Lease is offered for signature by Tenant and it is understood that this Lease shall not be binding upon
Landlord or Tenant unless and until Landlord and Tenant shall have executed and unconditionally delivered a fully executed copy
of this Lease to each other. The acceptance by Landlord of the Security shall not render this Lease effective unless and until
Landlord shall have executed and delivered to Tenant a fully executed copy of this Lease.

 

Section 25.12No
Claim for Damages. Tenant hereby waives any claim against Landlord which Tenant may have based upon any assertion that Landlord
has unreasonably withheld or delayed any consent or approval requested by Tenant, and Tenant agrees that its sole remedy shall
be an action or proceeding to enforce any related provision or for specific performance, injunction or declaratory judgment. If
there is a determination that such consent or approval has been withheld or delayed unreasonably, the requested consent or approval
shall be deemed to have been granted; however, Landlord shall have no liability to Tenant for its refusal or failure to give such
consent or approval.

 

Section 25.13Independent
Covenants. Tenant agrees that Tenant’s covenants and obligations under this Lease (“Tenant’s Obligations”)
shall be independent of Landlord’s covenants and obligations under this Lease (“Landlord’s Obligations”)
and that each such covenant and obligation is independent of any other covenant or obligation. Landlord’s breach or non-performance
of any of Landlord’s Obligations shall not excuse Tenant of Tenant’s Obligations, and shall not be the basis for any
defense, of any kind or nature whatsoever, to any suit by Landlord for Tenant’s breach or non-performance of any of Tenant’s
Obligations (including, without limitation, Tenant’s failure to pay Rent). It is the express agreement of Landlord and Tenant
that all payments of Base Rent and Additional Rent due under this Lease are absolutely and unconditionally due at the time set
forth herein, without any right of set-off or deduction of any kind or nature whatsoever except as expressly provided to the contrary
in this Lease.

 

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Section 25.14Interpretation.
No provision of this Lease shall be construed against or interpreted to the disadvantage of either Landlord or Tenant by any
court or other governmental or judicial authority by reason of either Landlord or Tenant having or being deemed to have drafted,
structured or dictated such provision.

 

Section 25.15Entire
Agreement. This Lease contains the entire agreement of the parties hereto and supersedes all other agreements or understandings
between them, whether oral or otherwise, and all such other agreements are merged herein. No modification, amendment, change or
addition to this Lease shall be binding upon Landlord or Tenant unless reduced to writing and signed by each party.

 

Section 25.16Binding
Effect. The covenants and conditions of this Lease shall inure to and bind the heirs, successors, executors, administrators
and assigns of the parties hereto. It is understood and agreed, however, that the Landlord’s Obligations shall not be binding
upon Landlord herein named with respect to any period subsequent to the transfer of its interest in the Building or Complex, that
in the event of such transfer said covenants and obligations shall thereafter be binding upon each transferee of such interest
of Landlord herein named, but only with respect to the period ending with a subsequent transfer of such interest, and that a lease
of the entire interest shall be deemed a transfer within the meaning of this Section.

 

Section 25.17Severability.
If any provision of this Lease or the application thereof to any person or circumstances shall, to any extent, be invalid
or unenforceable, the remainder of this Lease shall not be affected thereby and each provision of this Lease shall be valid and
enforceable to the fullest extent permitted by law.

 

Section 25.18Relocation.
Landlord hereby reserves the right, at its sole expense and on at least sixty (60) days’ prior written Notice, to require
Tenant to move from the Premises to other space within the Complex. The relocated space shall be of comparable size and decor.
If Tenant is relocated pursuant to the provisions of this Section, Landlord will pay (i) all reasonable, documented expenses of
preparing and decorating the relocated space so that it will be substantially similar to the Premises from which the Tenant is
moving, (ii) the reasonable, documented expenses of moving Tenant’s furniture and equipment to the relocated space and (iii)
any other direct costs incurred by Tenant because of Relocation.

 

Section 25.19Patriot
Act. Landlord and Tenant each represents and warrants to the other that, to their knowledge: (i) they are not acting, directly
or indirectly, for or on behalf of any person, group, entity or nation named by the United States Treasury Department as a Specially
Designated National and Blocked Person, or for or on behalf of any person, group, entity or nation designated in Presidential
Executive Order 13224 as a person who commits, threatens to commit, or supports terrorism; and (ii) they are not engaged in this
transaction directly or indirectly on behalf of, or facilitating this transaction directly or indirectly on behalf of, any such
person, group, entity or nation

 

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Section 25.20Confidentiality.
Tenant acknowledges that the terms and conditions of this Lease are to remain confidential for the Landlord’s benefit,
and may not be disclosed by Tenant to anyone, by any manner or means, directly or indirectly, without Landlord’s prior written
consent. The consent by the Landlord to any disclosures shall not be deemed to be a waiver on the part of the Landlord of any
prohibition against any future disclosure.

 

Section 25.21Radon
Disclosure. Pursuant to Florida Statutes Section 404.056[5], the following disclosure is required by law: Radon is a naturally
occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons
who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida.
Additional information regarding radon and radon testing may be obtained from the county public health unit. Landlord makes no
representation to Tenant concerning the presence or absence of radon gas in the Premises or the Building at any time or in any
quantity. By executing this Lease, Tenant expressly releases Landlord from any loss, claim, liability, or damage now or hereafter
arising from or relating to the presence at any time of such substances in the Premises or the Building.

 

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IN WITNESS WHEREOF, the parties have
this day set their hands and seals.

 

	Signed, Sealed and Delivered	 	LANDLORD:
	 	 	 
	In the presence of:	 	OAKLAND COMMERCE CENTER, LLC

a Florida limited liability
	 	 	 
	 	 	By:	            
	Landlord Witness #1	 	Rafael Hernandez
	 	 	Managing Director
		 	 	 
	Landlord Witness #2	 	 	 

 

	 	 	TENANT:
	 	 	 
	 	 	FLEXSHOPPER, LLC

a Foreign limited liability company
	 	 	 
		 	By: 	/s/
Brad Bernstein
	Tenant Witness #1	 	Brad Bernstein
	 	 	Title:  CEO
		 	 	 
	Tenant Witness #2	 	 	 

 

 

Page 36 of 36

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