Document:

Exhibit 10.2

 

THIS WARRANT AND THE SHARES OF COMMON
STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE
SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR NAVIDEA BIOPHARMACEUTICALS, INC. SHALL HAVE RECEIVED AN OPINION OF
COUNSEL THAT REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS
IS NOT REQUIRED.

 

WARRANT TO PURCHASE

 

SHARES OF COMMON STOCK

 

OF

 

Navidea
Biopharmaceuticals, Inc.

 

Expires _______, 2035

 

	No.: [   ]	Number of Shares: [   ]
	Date of Issuance: [   ]	 
	 	 

 

FOR VALUE RECEIVED,
subject to the provisions hereinafter set forth, the undersigned, Navidea Biopharmaceuticals, Inc., a Delaware corporation (together
with its successors and assigns, the “Issuer”), hereby certifies that [ ] or its registered assigns is entitled
to subscribe for and purchase, during the period specified in this Warrant, up to [ ] ([ ]) shares (subject to adjustment as hereinafter
provided) of the duly authorized, validly issued, fully paid and non-assessable Common Stock of the Issuer, at an exercise price
per share equal to the Warrant Price then in effect, subject, however, to the provisions and upon the terms and conditions hereinafter
set forth. Capitalized terms used in this Warrant and not otherwise defined herein shall have the respective meanings specified
in Section 8 hereof.

 

1.     Term.
The right to subscribe for and purchase shares of Warrant Stock represented hereby shall commence on the date hereof and shall
expire at 5:00 p.m., Eastern Time, on ______, 2035 (such period being the “Term”).

 

2.     Method of
Exercise Payment; Issuance of New Warrant; Transfer and Exchange.

 

(a)     Time
of Exercise. The purchase rights represented by this Warrant may be exercised in whole or in part at any time and from time
to time during the Term.

 

(b)     Method
of Exercise. The Holder hereof may exercise this Warrant, in whole or in part, by the surrender of this Warrant (with the exercise
form attached hereto duly executed) at the principal office of the Issuer, and by the payment to the Issuer of an amount of consideration
therefor equal to the Warrant Price in effect on the date of such exercise multiplied by the number of shares of Warrant Stock
with respect to which this Warrant is then being exercised, payable at such Holder’s election (i) by certified or official
bank check or by wire transfer to an account designated by the Issuer, (ii) by “cashless exercise” in accordance with
the provisions of subsection (c) of this Section 2, or (iii) by a combination of the foregoing methods of payment selected by the
Holder of this Warrant.

 

(c)     Cashless
Exercise. Notwithstanding any provisions herein to the contrary, if the Per Share Market Value of one share of Common Stock
is greater than the Warrant Price (at the date of calculation as set forth below) in lieu of exercising this Warrant by payment
of cash, the Holder may exercise this Warrant by a cashless exercise and shall receive the number of shares of Common Stock equal
to an amount (as determined below) by surrender of this Warrant at the principal office of the Issuer together with the properly
endorsed Notice of Exercise in which event the Issuer shall issue to the Holder a number of shares of Common Stock computed using
the following formula:

 

    	 	 	 

     

    

 

	
         

         
	X = Y - (A)(Y)
	            B
	 	 	 
	Where	X =	the number of shares of Common Stock to be issued to the Holder.
	 	 	 
	 	Y =	the number of shares of Common Stock purchasable upon exercise of all of the Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being exercised.
	 	 	 
	 	A =	the Warrant Price.
	 	 	 
	 	B =	the Per Share Market Value of one share of Common Stock.

 

(d)     Deemed Exercise on
Certain Events.

 

(i)     This
Warrant shall be deemed to have been exercised in full upon the earlier to occur of either of the following (each, an “Automatic
Exercise Event”): (i) the closing of a firm commitment underwritten public offering of Common Stock of the Issuer pursuant
to an effective registration statement under Section 5 of the Securities Act in which the gross cash proceeds to the Issuer (before
underwriting discounts, commissions and fees) from such public offering are at least $10,000,000, or (ii) one hundred eighty (180)
days following the first Trading Date upon which the Trigger Price per share of the Common Stock equals or exceeds $7.00 per share,
but excluding from such 180 day period any Trading Day on which the Trigger Price is less than $5.00 per share. The number of shares
of Common Stock which the Holder shall receive upon an Automatic Exercise Event shall be determined by applying the cashless exercise
formula contained in Section 2(c), assuming the exercise in full of this Warrant.

 

(ii)     Upon
the occurrence of an Automatic Exercise Event, the Warrant shall be deemed to have been exercised automatically by the holder without
any further action by the holder and whether or not the Warrant is surrendered to the Company; provided, however, that the Company
shall not be obligated to issue certificates evidencing the Warrant Stock issuable upon such exercise unless the Warrant are either
delivered to the Company as provided in Section 2(b), or the holder certifies to the Company that the Warrant has been lost, stolen
or destroyed and executes an agreement satisfactory to the Company to indemnify the Company from any loss incurred by it in connection
with the Warrant. Upon surrender by the holder of the Warrant to the Company or the transfer agent, there shall be issued and delivered
to such holder promptly in its name as shown on such surrendered Warrant, a certificate or certificates for the number of shares
of Warrant Stock into which the Warrant surrendered were exercised on the date on which such automatic exercise occurred, and the
Company shall promptly pay in cash (at the fair market value per share of Common Stock determined by the Board of Directors as
of the date of exercise) the value of any fractional share of Warrant Stock otherwise issuable to the holder the Warrant being
exercised. Until surrendered as provided above, the Warrant shall be deemed for all corporate purposes to represent the number
of shares of Common Stock resulting from such automatic exercise.

 

(iii)     Notwithstanding
the provisions of Section 2(d)(i) if, upon the occurrence of an Automatic Exercise Event, the Issuer cannot issue shares of Common
Stock to fully effect the deemed exercise for any reason, including, without limitation, because the Issuer (i) does not have a
sufficient number of shares of Common Stock authorized and available, (ii) is otherwise prohibited by applicable law or by the
rules or regulations of any stock exchange, interdealer quotation system or other self-regulatory organization with jurisdiction
over the Issuer or its securities from issuing all of the Common Stock which is to be issued to a holder of this Warrant, or (iii)
the exercise would be prohibited by the provisions of Section 7 hereof and such prohibition has not been waived by the Holder,
then the Issuer shall issue as many shares of Common Stock as it is able to issue, and with respect to the unexercised Warrant
(the “Unexercised Warrant Stock”), deliver to the Holder an amended and restated Warrant in substantially the
form hereof. In the event that the Issuer is thereafter able to effect the exercise of the Unexercised Warrant Stock, it shall
so notify the holder in writing, and such notice shall be deemed to be an Automatic Conversion Event for purposes of this Section
2(d).

 

    	 	2	 

     

    

 

(e)     Issuance
of Stock Certificates. In the event of any exercise or deemed exercise of the rights represented by this Warrant in accordance
with and subject to the terms and conditions hereof, (i) certificates for the shares of Warrant Stock so purchased shall be dated
the date of such exercise and delivered to the Holder hereof within a reasonable time, not exceeding three (3) Trading Days after
such exercise (the “Delivery Date”) or, at the request of the Holder, issued and delivered to the Depository
Trust Company (“DTC”) account on the Holder’s behalf via the Deposit Withdrawal Agent Commission System
(“DWAC”) within a reasonable time, not exceeding three (3) Trading Days after such exercise, and the Holder
hereof shall be deemed for all purposes to be the Holder of the shares of Warrant Stock so purchased as of the date of such exercise,
and (ii) unless this Warrant has expired, a new Warrant representing the number of shares of Warrant Stock, if any, with respect
to which this Warrant shall not then have been exercised (less any amount thereof which shall have been canceled in payment or
partial payment of the Warrant Price as hereinabove provided) shall also be issued to the Holder hereof at the Issuer’s expense
within such time. Notwithstanding the foregoing to the contrary, the Issuer or its transfer agent shall only be obligated to issue
and deliver the shares to the DTC on the Holder’s behalf via DWAC (or certificates free of restrictive legends) if such exercise
is in connection with a sale by the Holder and the Holder has complied with the applicable prospectus delivery requirements or
an exemption from such registration requirements (each as evidenced by documentation furnished to and reasonably satisfactory to
the Issuer).

 

(f)     Transferability
of Warrant. Subject to Section 2(h), this Warrant may be transferred by a Holder without the consent of the Issuer. If transferred
pursuant to this paragraph, this Warrant may be transferred on the books of the Issuer by the Holder hereof in person or by the
Holder’s duly authorized attorney, upon surrender of this Warrant at the principal office of the Issuer, properly endorsed
(by the Holder executing an assignment in the form attached hereto) and upon payment of any necessary transfer tax or other governmental
charge imposed upon such transfer. This Warrant is exchangeable at the principal office of the Issuer for Warrants for the purchase
of the same aggregate number of shares of Warrant Stock, each new Warrant to represent the right to purchase such number of shares
of Warrant Stock as the Holder hereof shall designate at the time of such exchange. All Warrants issued on transfers or exchanges
shall be dated the Original Issue Date and shall be identical with this Warrant except as to the number of shares of Warrant Stock
issuable pursuant hereto.

 

(g)     Continuing
Rights of Holder. The Issuer will, at the time of or at any time after each exercise of this Warrant, upon the request of the
Holder hereof, acknowledge in writing the extent, if any, of its continuing obligation to afford to such Holder all rights to which
such Holder shall continue to be entitled after such exercise in accordance with the terms of this Warrant, provided, however,
that if any such Holder shall fail to make any such request, the failure shall not affect the continuing obligation of the Issuer
to afford such rights to such Holder.

 

(h)     Compliance
with Securities Laws.

 

(i)     The
Holder of this Warrant, by acceptance hereof, acknowledges that this Warrant and the shares of Warrant Stock to be issued upon
exercise hereof are being acquired solely for the Holder’s own account and not as a nominee for any other party, and for
investment, and that the Holder will not offer, sell or otherwise dispose of this Warrant or any shares of Warrant Stock to be
issued upon exercise hereof except pursuant to an effective registration statement, or an exemption from registration, under the
Securities Act and any applicable state securities laws.

 

(ii)     Except
as provided in paragraph (iii) below, this Warrant and all certificates representing shares of Warrant Stock issued upon exercise
hereof shall be stamped or imprinted with a legend in substantially the following form:

 

THIS WARRANT AND THE SHARES OF
COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE
SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR NAVIDEA BIOPHARMACEUTICALS, INC. SHALL HAVE RECEIVED AN OPINION OF
COUNSEL THAT REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS
IS NOT REQUIRED.

 

(iii)     The
restrictions imposed by this subsection (h) upon the transfer of this Warrant or the shares of Warrant Stock to be purchased upon
exercise hereof shall terminate (A) when such securities shall have been resold pursuant to an effective registration statement
under the Securities Act, (B) upon the Issuer’s receipt of an opinion of counsel, in form and substance reasonably satisfactory
to the Issuer, addressed to the Issuer to the effect that such restrictions are no longer required to ensure compliance with the
Securities Act and state securities laws or (C) upon the Issuer’s receipt of other evidence reasonably satisfactory to the
Issuer that such registration and qualification under the Securities Act and state securities laws are not required. Whenever such
restrictions shall cease and terminate as to any such securities, the Holder thereof shall be entitled to receive from the Issuer
(or its transfer agent and registrar), without expense (other than applicable transfer taxes, if any), new Warrants (or, in the
case of shares of Warrant Stock, new stock certificates) of like tenor not bearing the applicable legend required by paragraph
(ii) above relating to the Securities Act and state securities laws.

 

    	 	3	 

     

    

 

(i) Buy In.
In addition to any other rights available to the Holder, if the Issuer fails to cause its transfer agent to transmit to the Holder
a certificate or certificates representing the Warrant Stock pursuant to an exercise or deemed exercise on or before the Delivery
Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) shares
of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Stock which the Holder anticipated receiving
upon such exercise (a “Buy-In”), then the Issuer shall (1) pay in cash to the Holder the amount by which (x)
the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds
(y) the amount obtained by multiplying (A) the number of shares of Warrant Stock that the Issuer was required to deliver to the
Holder in connection with the exercise at issue times, (B) the price at which the sell order giving rise to such purchase obligation
was executed, and (2) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of shares
of Warrant Stock for which such exercise was not honored or deliver to the Holder the number of shares of Common Stock that would
have been issued had the Issuer timely complied with its exercise and delivery obligations hereunder. For example, if the Holder
purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares
of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (1) of the immediately
preceding sentence the Issuer shall be required to pay the Holder $1,000. The Holder shall provide the Issuer written notice indicating
the amounts payable to the Holder in respect of the Buy-In, together with applicable confirmations and other evidence reasonably
requested by the Issuer. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder,
at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the
Issuer’s failure to timely deliver certificates representing shares of Common Stock upon exercise of this Warrant as required
pursuant to the terms hereof.

 

3.     Stock Fully
Paid; Reservation and Listing of Shares; Covenants.

 

(a)     Stock
Fully Paid. The Issuer represents, warrants, covenants and agrees that all shares of Warrant Stock which may be issued upon
the exercise of this Warrant or otherwise hereunder will, upon issuance, be duly authorized, validly issued, fully paid and non-assessable
and free from all taxes, liens and charges created by or through Issuer. The Issuer further covenants and agrees that during the
period within which this Warrant may be exercised, the Issuer will at all times have authorized and reserved for the purpose of
the issue upon exercise of this Warrant a number of shares of Common Stock equal to the aggregate number of shares of Common Stock
exercisable hereunder to provide for the exercise of this Warrant (without regard to limitations on exercisability set forth in
Section 7).

 

(b)     Reservation.
If any shares of Common Stock required to be reserved for issuance upon exercise of this Warrant or as otherwise provided hereunder
require registration or qualification with any governmental authority under any federal or state law before such shares may be
so issued, the Issuer will in good faith use its best efforts as expeditiously as possible at its expense to cause such shares
to be duly registered or qualified. If the Issuer shall list any shares of Common Stock on any securities exchange or market it
will, at its expense, list thereon, maintain and increase when necessary such listing, of, all shares of Warrant Stock from time
to time issued upon exercise of this Warrant or as otherwise provided hereunder, and, to the extent permissible under the applicable
securities exchange’s rules, all unissued shares of Warrant Stock which are at any time issuable hereunder, so long as any
shares of Common Stock shall be so listed. The Issuer will also so list on each securities exchange or market, and will maintain
such listing of, any other securities which the Holder of this Warrant shall be entitled to receive upon the exercise of this Warrant
if at the time any securities of the same class shall be listed on such securities exchange or market by the Issuer.

 

(c)     Covenants.
Until the sooner to occur of the full exercise of this Warrant or the end of the Term, except and to the extent as waived or consented
to by the Holder, the Issuer shall not by any action, including, without limitation, amending its Certificate of Incorporation
or By-Laws or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or
any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will
at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary
or appropriate to protect the rights of Holder as set forth in this Warrant against impairment or dilution. Without limiting the
generality of the foregoing, the Issuer will (a) not increase the par value of any Warrant Stock above the amount payable therefor
upon such exercise immediately prior to such increase in par value, (b) take all such action as may be necessary or appropriate
in order that the Issuer may validly and legally issue fully paid and nonassessable Warrant Stock upon the exercise of this Warrant,
and (c) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof as may be necessary to enable the Issuer to perform its obligations under this Warrant.

 

    	 	4	 

     

    

 

(d)     Loss,
Theft, Destruction of Warrants. Upon receipt of evidence satisfactory to the Issuer of the ownership of and the loss, theft,
destruction or mutilation of any Warrant and, in the case of any such loss, theft or destruction, upon receipt of indemnity or
security satisfactory to the Issuer or, in the case of any such mutilation, upon surrender and cancellation of such Warrant, the
Issuer will make and deliver, in lieu of such lost, stolen, destroyed or mutilated Warrant, a new Warrant of like tenor and representing
the right to purchase the same number of shares of Common Stock.

 

4.     Adjustment
of Warrant Price and Warrant Share Number. The number of shares of Common Stock for which this Warrant is exercisable, and
the price at which such shares may be purchased upon exercise of this Warrant, shall be subject to adjustment from time to time
as set forth in this Section 4. The Issuer shall give the Holder notice of any event described below which requires an adjustment
pursuant to this Section 4 in accordance with Section 5. Notwithstanding any adjustment hereunder,
at no time shall the Warrant Price be greater than $0.01 per share, except if it is adjusted pursuant to Section 4(b)(iii). 

 

(a)     Recapitalization,
Reorganization, Reclassification, Consolidation, Merger or Sale.

 

(i)     In
case the Issuer after the Original Issue Date shall do any of the following (each, a “Triggering Event”): (a)
consolidate with or merge into any other Person and the Issuer shall not be the continuing or surviving corporation of such consolidation
or merger, or (b) permit any other Person to consolidate with or merge into the Issuer and the Issuer shall be the continuing or
surviving Person but, in connection with such consolidation or merger, any Capital Stock of the Issuer shall be changed into or
exchanged for Securities of any other Person or cash or any other property, or (c) transfer all or substantially all of its properties
or assets to any other Person, or (d) effect a capital reorganization or reclassification of its Capital Stock, then, and in the
case of each such Triggering Event, proper provision shall be made so that, upon the basis and the terms and in the manner provided
in this Warrant, the Holder of this Warrant shall be entitled upon the exercise hereof at any time after the consummation of such
Triggering Event, to the extent this Warrant is not exercised prior to such Triggering Event, to receive at the Warrant Price in
effect at the time immediately prior to the consummation of such Triggering Event in lieu of the Common Stock issuable upon such
exercise of this Warrant prior to such Triggering Event, the Securities, cash and property to which such Holder would have been
entitled upon the consummation of such Triggering Event if such Holder had exercised the rights represented by this Warrant (without
giving effect to the limitations on exercise set forth in Section 7 hereof) immediately prior thereto (including the right to elect
the type of consideration, if applicable), subject to adjustments (subsequent to such corporate action) as nearly equivalent as
possible to the adjustments provided for elsewhere in this Section 4. 

 

(ii)     Notwithstanding
anything contained in this Warrant to the contrary and so long as the surviving entity is a Qualifying Entity, the Issuer will
not be deemed to have effected any Triggering Event if, prior to the consummation thereof, each Person (other than the Issuer)
which may be required to deliver any Securities, cash or property upon the exercise of this Warrant as provided herein shall assume,
by written instrument delivered to the Holder of this Warrant and reasonably satisfactory to the Holder, (A) the obligations of
the Issuer under this Warrant (and if the Issuer shall survive the consummation of such Triggering Event, such assumption shall
be in addition to, and shall not release the Issuer from, any continuing obligations of the Issuer under this Warrant) and (B)
the obligation to deliver to such Holder such shares of Securities, cash or property as, in accordance with the foregoing provisions
of this subsection (a), such Holder shall be entitled to receive, and such Person shall have similarly delivered to such Holder,
an opinion of counsel for such Person, which shall be reasonably satisfactory to the Holder, stating that this Warrant shall thereafter
continue in full force and effect and the terms hereof (including, without limitation, all of the provisions of this subsection
(a)) shall be applicable to the Securities, cash or property which such Person may be required to deliver upon any exercise of
this Warrant or the exercise of any rights pursuant hereto.

 

    	 	5	 

     

    

 

(b)     Stock
Dividends, Subdivisions and Combinations. If at any time the Issuer shall:

 

(i)     set
a record date or 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, shares of Common Stock,

 

(ii)     subdivide
its outstanding shares of Common Stock into a larger number of shares of Common Stock, or

 

(iii)     combine
its outstanding shares of Common Stock into a smaller number of shares of Common Stock,

 

then (1) the number of shares
of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal
the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant
is exercisable immediately prior to the occurrence of such event (without giving effect to the limitations on exercise set forth
in Section 7 hereof) would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect
shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this
Warrant is exercisable immediately prior to the adjustment (without giving effect to the limitations on exercise set forth in Section
7 hereof) divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment
(without giving effect to the limitations on exercise set forth in Section 7 hereof).

 

(c)     Certain
Other Distributions. If at any time the Issuer shall set a record date or take a record of the holders of its Common Stock
for the purpose of entitling them to receive any dividend or other distribution of:

 

(i)     cash
(other than a cash dividend payable out of earnings or earned surplus legally available for the payment of dividends under the
laws of the jurisdiction of incorporation of the Issuer),

 

(ii)     any
evidences of its indebtedness, any shares of stock of any class or any other securities or property of any nature whatsoever, or

 

(iii)     any
warrants or other rights to subscribe for or purchase any evidences of its indebtedness, any shares of stock of any class or any
other securities or property of any nature whatsoever,

 

then (1) the number of shares
of Common Stock for which this Warrant is exercisable shall be adjusted to equal the product of the number of shares of Common
Stock for which this Warrant is exercisable immediately prior to such adjustment (without giving effect to the limitations on exercise
set forth in Section 7 hereof) multiplied by a fraction (A) the numerator of which shall be the Per Share Market Value of Common
Stock at the date of taking such record and (B) the denominator of which shall be such Per Share Market Value minus the amount
allocable to one share of Common Stock of any such cash so distributable and of the fair value (as determined in good faith by
the Board of Directors of the Issuer and supported by an opinion from an investment banking firm reasonably acceptable to the Holder)
of any and all such evidences of indebtedness, shares of stock, other securities or property or warrants or other subscription
or purchase rights so distributable, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price
then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the
adjustment (without giving effect to the limitations on exercise set forth in Section 7 hereof) divided by (B) the number of shares
of Common Stock for which this Warrant is exercisable immediately after such adjustment (without giving effect to the limitations
on exercise set forth in Section 7 hereof). A reclassification of the Common Stock (other than a change in par value, or from par
value to no par value or from no par value to par value) into shares of Common Stock and shares of any other class of stock shall
be deemed a distribution by the Issuer to the holders of its Common Stock of such shares of such other class of stock within the
meaning of this Section 4(c) and, if the outstanding shares of Common Stock shall be changed into a larger or smaller number of
shares of Common Stock as a part of such reclassification, such change shall be deemed a subdivision or combination, as the case
may be, of the outstanding shares of Common Stock within the meaning of Section 4(b).

 

(d)     [reserved]

 

(e)     [reserved]

 

(f)     [reserved]

 

(g)     [reserved]

 

(h)     [reserved]

 

    	 	6	 

     

    

 

(i)     Other
Provisions Applicable to Adjustments under this Section. The following provisions shall be applicable to the making of adjustments
of the number of shares of Common Stock for which this Warrant is exercisable and the Warrant Price then in effect provided for
in this Section 4:

 

(i)     [Reserved]

 

(ii)     [Reserved]

 

(iii)     Fractional
Interests. In computing adjustments under this Section 4, fractional interests in Common Stock shall be taken into account
to the nearest one one-hundredth (1/100 th ) of a share.

 

(iv)     When
Adjustment Not Required. If the Issuer shall take a record of the holders of its Common Stock for the purpose of entitling
them to receive a dividend or distribution or subscription or purchase rights and shall, thereafter and before the distribution
to stockholders thereof, legally abandon its plan to pay or deliver such dividend, distribution, subscription or purchase rights,
then thereafter no adjustment shall be required by reason of the taking of such record and any such adjustment previously made
in respect thereof shall be rescinded and annulled.

 

(j)     Form
of Warrant after Adjustments. The form of this Warrant need not be changed because of any adjustments in the Warrant Price
or the number and kind of securities purchasable upon exercise of this Warrant.

 

(k)     Escrow
of Property. If after any property becomes distributable pursuant to this Section 4 by reason of the taking of any record of
the holders of Common Stock, but prior to the occurrence of the event for which such record is taken, and the Holder exercises
this Warrant, such property shall be held in escrow for the Holder by the Issuer to be distributed to the Holder upon and to the
extent that the event actually takes place, upon payment of the then current Warrant Price. Notwithstanding any other provision
to the contrary herein, if the event for which such record was taken fails to occur or is rescinded, then such escrowed property
shall be returned to the Issuer.

 

5.     Notice of
Adjustments. Whenever the Warrant Price or Warrant Share Number shall be adjusted pursuant to Section 4 hereof (for purposes
of this Section 5, each an “adjustment”), the Issuer shall cause its Chief Financial Officer to prepare and execute
a certificate setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method
by which such adjustment was calculated (including a description of the basis on which the Board made any determination hereunder),
and the Warrant Price and Warrant Share Number after giving effect to such adjustment, and shall cause copies of such certificate
to be delivered to the Holder of this Warrant promptly after each adjustment. Any dispute between the Issuer and the Holder of
this Warrant with respect to the matters set forth in such certificate may at the option of the Holder of this Warrant be submitted
to one of the national accounting firms currently known as the “big four” selected by the Holder, provided, however,
that the Issuer shall have ten (10) days after receipt of notice from such Holder of its selection of such firm to object thereto,
in which case such Holder shall select another such firm and the Issuer shall have no such right of objection. The firm selected
by the Holder of this Warrant as provided in the preceding sentence shall be instructed to deliver a written opinion as to such
matters to the Issuer and such Holder within thirty (30) days after submission to it of such dispute. Such opinion shall be final
and binding on the parties hereto.

 

6.     Fractional
Shares. No fractional shares of Warrant Stock will be issued in connection with any exercise hereof, but in lieu of such fractional
shares, the Issuer shall at its option either (a) make a cash payment therefor equal in amount to the product of the applicable
fraction multiplied by the Per Share Market Value then in effect or (b) issue one whole share in lieu of such fractional share.

 

7.     Certain Exercise
Restrictions. 

 

(a)     Notwithstanding
anything to the contrary set forth in this Warrant, at no time may a holder of this Warrant exercise this Warrant if the number
of shares of Common Stock to be issued pursuant to such exercise would exceed, when aggregated with all other shares of Common
Stock owned by such holder at such time, the number of shares of Common Stock which would result in such holder beneficially owning
(as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules thereunder)
in excess of 4.99% of all of the Common Stock outstanding at such time; provided, however, that upon a holder of this Warrant
providing the Issuer with sixty-one (61) days notice (pursuant to Section 13 hereof) (the “Waiver Notice”) that
such holder would like to waive this Section 7(a) with regard to any or all shares of Common Stock issuable upon exercise
of this Warrant, this Section 7(a) will be of no force or effect with regard to all or a portion of the Warrant referenced in the
Waiver Notice; provided, further, that this Section 7(a) shall be of no further force or effect during the sixty-one (61) days
immediately preceding the expiration of the term of this Warrant.

 

    	 	7	 

     

    

 

(b)     Notwithstanding
anything to the contrary set forth in this Warrant, at no time may a holder of this Warrant exercise this Warrant if the number
of shares of Common Stock to be issued pursuant to such exercise would exceed, when aggregated with all other shares of Common
Stock owned by such holder at such time, the number of shares of Common Stock which would result in such holder beneficially owning
(as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules thereunder)
in excess of 9.99% of all of the Common Stock outstanding at such time; provided, however, that upon a holder of this Warrant providing
the Issuer with sixty-one (61) days notice (pursuant to Section 13 hereof) (the “Waiver Notice”) that such holder
would like to waive this Section 7 with regard to any or all shares of Common Stock issuable upon exercise of this Warrant, this
Section 7 will be of no force or effect with regard to all or a portion of the Warrant referenced in the Waiver Notice; provided,
further, that this Section 7(b) shall be of no further force or effect during the sixty-one (61) days immediately preceding the
expiration of the term of this Warrant.

 

8.     Definitions.
For the purposes of this Warrant, the following terms have the following meanings:

 

“Board”
shall mean the Board of Directors of the Issuer.

 

“Capital
Stock” means and includes (i) any and all shares, interests, participations or other equivalents of or interests in (however
designated) corporate stock, including, without limitation, shares of preferred or preference stock, (ii) all partnership interests
(whether general or limited) in any Person which is a partnership, (iii) all membership interests or limited liability company
interests in any limited liability company, and (iv) all equity or ownership interests in any Person of any other type.

 

“Certificate
of Incorporation” means the Certificate of Incorporation of the Issuer as in effect on the Original Issue Date, and as
hereafter from time to time amended, modified, supplemented or restated in accordance with the terms hereof and thereof and pursuant
to applicable law.

 

“Closing
Price” shall mean (i) the last trading price per share of the Common Stock on such date on the NYSE MKT or other registered
national stock exchange on which the Common Stock is then listed, or if there is no such price on such date, then the last trading
price on such exchange or quotation system on the date nearest preceding such date, or (ii) if the price of the Common Stock is
not then reported on a national securities exchange, the last trading price per share of the Common Stock as reported by the OTC
Bulletin Board, or (iii) if the Common Stock is not listed on a national securities exchange or quoted on the OTC Bulletin Board,
then the average of the “Pink Sheet” quotes for the relevant date, as reported by the National Quotation Bureau, Inc.,
or (iv) if the Common Stock is not then publicly traded the fair market value of a share of Common Stock as mutually determined
by the Issuer and the Majority Holders.

 

“Common Stock”
means the Common Stock, par value $.001 per share, of the Issuer and any other Capital Stock into which such stock may hereafter
be changed.

 

“Common Stock
Equivalent” means any Convertible Security or warrant, option or other right to subscribe for or purchase any Additional
Shares of Common Stock or any Convertible Security.

 

“Exchange
Agreement” means the Securities Exchange Agreement dated as of __, 2015 between the Issuer and the Holder.

 

“Governmental
Authority” means any governmental, regulatory or self-regulatory entity, department, body, official, authority, commission,
board, agency or instrumentality, whether federal, state or local, and whether domestic or foreign.

 

“Holders”
mean the Persons who shall from time to time own any Warrant. The term “Holder” means one of the Holders.

 

“Independent
Appraiser” means a nationally recognized or major regional investment banking firm or firm of independent certified public
accountants of recognized standing (which may be the firm that regularly examines the financial statements of the Issuer) that
is regularly engaged in the business of appraising the Capital Stock or assets of corporations or other entities as going concerns,
and which is not affiliated with either the Issuer or the Holder of any Warrant.

 

    	 	8	 

     

    

 

“Issuer”
means Navidea Biopharmaceuticals, Inc., a Delaware corporation, and its successors.

 

“Majority
Holders” means at any time the Holders of Warrants, substantially in the form of this Warrant, exercisable for a majority
of the shares of Warrant Stock issuable under the Warrants at the time outstanding.

 

“Original
Issue Date” means the date hereof.

 

“OTC Bulletin
Board” means the over-the-counter electronic bulletin board.

 

“Person”
means an individual, corporation, limited liability company, partnership, joint stock company, trust, unincorporated organization,
joint venture, Governmental Authority or other entity of whatever nature.

 

“Per Share
Market Value” means on any particular date (a) the last trading price on any national securities exchange on which the
Common Stock is listed, or, if there is no such price, the closing bid price for a share of Common Stock in the over-the-counter
market, as reported by the OTC Bulletin Board or in the National Quotation Bureau Incorporated or similar organization or agency
succeeding to its functions of reporting prices) at the close of business on such date, or (b) if the Common Stock is not then
reported by the OTC Bulletin Board or the National Quotation Bureau Incorporated (or similar organization or agency succeeding
to its functions of reporting prices), then the average of the “Pink Sheet” quotes for the Common Stock on such date,
or (c) if the Common Stock is not then publicly traded the fair market value of a share of Common Stock on such date as determined
by the Board in good faith; provided, however, that the Majority Holders, after receipt of the determination by the
Board, shall have the right to select, jointly with the Issuer, an Independent Appraiser, in which case, the fair market value
shall be the determination by such Independent Appraiser; and provided , further that all determinations of the Per
Share Market Value shall be appropriately adjusted for any stock dividends, stock splits or other similar transactions during the
period between the date as of which such market value was required to be determined and the date it is finally determined. The
determination of fair market value shall be based upon the fair market value of the Issuer determined on a going concern basis
as between a willing buyer and a willing seller and taking into account all relevant factors determinative of value, and shall
be final and binding on all parties. In determining the fair market value of any shares of Common Stock, no consideration shall
be given to any restrictions on transfer of the Common Stock imposed by agreement or by federal or state securities laws, or to
the existence or absence of, or any limitations on, voting rights.

 

“Qualifying
Entity” means an entity which has its common equity securities traded or quoted on a national securities exchange or
the OTC Bulletin Board.

 

“Securities”
means any debt or equity securities of the Issuer, whether now or hereafter authorized, any instrument convertible into or exchangeable
for Securities or a Security, and any option, warrant or other right to purchase or acquire any Security. “Security”
means one of the Securities.

 

“Securities
Act” means the Securities Act of 1933, as amended, or any similar federal statute then in effect.

 

“Subsidiary”
means any corporation at least 50% of whose outstanding Voting Stock, and a limited liability company at least 50% of whose membership
interests, shall at the time be owned directly or indirectly by the Issuer or by one or more of its Subsidiaries.

 

“Term”
has the meaning specified in Section 1 hereof.

 

“Trading
Day” means (a) a day on which the Common Stock is traded on the OTC Bulletin Board, or (b) if the Common Stock is not
traded on the OTC Bulletin Board, a day on which the Common Stock is quoted in the over-the-counter market as reported by the National
Quotation Bureau Incorporated (or any similar organization or agency succeeding its functions of reporting prices); provided,
however, that in the event that the Common Stock is not listed or quoted as set forth in (a) or (b) hereof, then Trading
Day shall mean any day except Saturday, Sunday and any day which shall be a legal holiday or a day on which banking institutions
in the State of New York are authorized or required by law or other government action to close.

 

“Trigger
Price” means the average VWAP for any thirty (30) consecutive Trading Days.

 

“Voting Stock”
means, as applied to the Capital Stock of any corporation, Capital Stock of any class or classes (however designated) having ordinary
voting power for the election of a majority of the members of the Board of Directors (or other governing body) of such corporation,
other than Capital Stock having such power only by reason of the happening of a contingency.

 

    	 	9	 

     

    

 

“VWAP”
means, for any date, (i) the daily volume weighted average price of the Common Stock for such date on the NYSE MKT (or other national
securities exchange, if applicable) as reported by Bloomberg Financial L.P. (based on a Trading Day from 9:30 a.m. Eastern Time
to 4:02 p.m. Eastern Time); or (ii) if the Common Stock is not then listed or quoted on a national securities exchange, and if
prices for the Common Stock are then reported on the OTC Bulletin Board (or a similar organization or agency succeeding to its
functions of reporting prices), the most recent bid price per share of the Common Stock so reported.

 

“Warrants”
means the Series W Warrants issued and sold pursuant to the Exchange Agreement, including, without limitation, this Warrant, and
any other warrants of like tenor issued in substitution or exchange for any thereof pursuant to the provisions hereof or of any
of such other Warrants.

 

“Warrant
Price” initially means U.S. $0.01, as such price may be adjusted from time to time as shall result from the adjustments
specified in this Warrant, including Section 4 hereto.

 

“Warrant
Share Number” means at any time the aggregate number of shares of Warrant Stock which may at such time be purchased upon
exercise of this Warrant, after giving effect to all prior adjustments and increases to such number made or required to be made
under the terms hereof.

 

“Warrant
Stock” means Common Stock issuable upon exercise of any Warrant or Warrants or otherwise issuable pursuant to any Warrant
or Warrants.

 

9.     Other Notices.
In case at any time:

 

(a)     the Issuer shall make
any distributions to the holders of Common Stock; or

 

(b)     the Issuer shall authorize
the granting to all holders of its Common Stock of rights to subscribe for or purchase any shares of Capital Stock of any class
or of any Common Stock Equivalents or other rights; or

 

(c)      there shall be any
reclassification of the Capital Stock of the Issuer; or

 

(d)      there shall be any
capital reorganization by the Issuer; or

 

(e)      there shall be any
(i) consolidation or merger involving the Issuer or (ii) sale, transfer or other disposition of all or substantially all of the
Issuer’s property, assets or business (except a merger or other reorganization in which the Issuer shall be the surviving
corporation and its shares of Capital Stock shall continue to be outstanding and unchanged and except a consolidation, merger,
sale, transfer or other disposition involving a wholly-owned Subsidiary); or

 

(f)     there shall be a voluntary
or involuntary dissolution, liquidation or winding-up of the Issuer or any partial liquidation of the Issuer or distribution to
holders of Common Stock;

 

then, in each of such cases, the Issuer
shall give written notice to the Holder of the date on which (i) the books of the Issuer shall close or a record shall be taken
for such dividend, distribution or subscription rights or (ii) such reorganization, reclassification, consolidation, merger, disposition,
dissolution, liquidation or winding-up, as the case may be, shall take place. Such notice also shall specify the date as of which
the holders of Common Stock of record shall participate in such dividend, distribution or subscription rights, or shall be entitled
to exchange their certificates for Common Stock for securities or other property deliverable upon such reorganization, reclassification,
consolidation, merger, disposition, dissolution, liquidation or winding-up, as the case may be. Such notice shall be given at least
twenty (20) days prior to the action in question and not less than twenty (20) days prior to the record date or the date on which
the Issuer’s transfer books are closed in respect thereto. The Holder shall have the right to send two (2) representatives
selected by it to each meeting, who shall be permitted to attend, but not vote at, such meeting and any adjournments thereof. This
Warrant entitles the Holder to receive copies of all financial and other information distributed or required to be distributed
to the holders of the Common Stock.

 

    	 	10	 

     

    

 

10.     Amendment
and Waiver. Any term, covenant, agreement or condition in this Warrant may be amended, or compliance therewith may be waived
(either generally or in a particular instance and either retroactively or prospectively), by a written instrument or written instruments
executed by the Issuer and the Majority Holders; provided, however, that no such amendment or waiver shall reduce the Warrant
Share Number, increase the Warrant Price, shorten the period during which this Warrant may be exercised or modify any provision
of this Section 11 without the consent of the Holder of this Warrant.

 

11.     Governing
Law. THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING
EFFECT TO PRINCIPLES OF CONFLICTS OF LAW, EXCEPT TO THE EXTENT THE GENERAL CORPORATION LAW OF DELAWARE SHALL APPLY.

 

12.     Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earlier of (i) the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile telephone number specified for notice prior to 5:00 p.m., eastern time, on a Trading Day, (ii) the
Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile telephone
number specified for notice later than 5:00 p.m., eastern time, on any date and earlier than 11:59 p.m., eastern time, on such
date, (iii) the Trading Day following the date of mailing, if sent by nationally recognized overnight courier service or (iv) actual
receipt by the party to whom such notice is required to be given. The addresses for such communications shall be with respect to
the Holder of this Warrant or of Warrant Stock issued pursuant hereto, addressed to such Holder at its last known address or facsimile
number appearing on the books of the Issuer maintained for such purposes, or with respect to the Issuer, addressed to:

  

Navidea Biopharmaceuticals, Inc.

5600 Blazer Parkway, Suite 200

Dublin, OH 43017

Tel. No.: (614) 793-7500

Fax No.: (614) 793-7520

 

with a copy to: 

 

Dickinson Wright
PLLC

150 East Gay
Street, Suite 2400

Columbus, OH
43215

Attn: William
J. Kelly, Jr.

Fax: (248)
433-7274

 

Copies of notices to the Holder shall be
sent to Burak Anderson & Melloni, PLC, 30 Main Street, Burlington, Vermont 05402, Tel No.: (802) 862-0500, Fax No.: (802) 862-8176.
Any party hereto may from time to time change its address for notices by giving at least ten (10) days written notice of such changed
address to the other party hereto.

 

13.     Warrant Agent.
The Issuer may, by written notice to each Holder of this Warrant, appoint an agent having an office in New York, New York for the
purpose of issuing shares of Warrant Stock on the exercise of this Warrant pursuant to subsection (b) of Section 2 hereof, exchanging
this Warrant pursuant to subsection (d) of Section 2 hereof or replacing this Warrant pursuant to subsection (d) of Section 3 hereof,
or any of the foregoing, and thereafter any such issuance, exchange or replacement, as the case may be, shall be made at such office
by such agent.

 

14.     Remedies.
The Issuer stipulates that the remedies at law of the Holder of this Warrant in the event of any default or threatened default
by the Issuer in the performance of or compliance with any of the terms of this Warrant are not and will not be adequate and that,
to the fullest extent permitted by law, such terms may be specifically enforced by a decree for the specific performance of any
agreement contained herein or by an injunction against a violation of any of the terms hereof or otherwise.

 

15.     Successors
and Assigns. This Warrant and the rights evidenced hereby shall inure to the benefit of and be binding upon the successors
and assigns of the Issuer, the Holder hereof and (to the extent provided herein) the Holders of Warrant Stock issued pursuant hereto,
and shall be enforceable by any such Holder or Holder of Warrant Stock.

 

    	 	11	 

     

    

 

16.     Modification
and Severability. If, in any action before any court or agency legally empowered to enforce any provision contained herein,
any provision hereof is found to be unenforceable, then such provision shall be deemed modified to the extent necessary to make
it enforceable by such court or agency. If any such provision is not enforceable as set forth in the preceding sentence, the unenforceability
of such provision shall not affect the other provisions of this Warrant, but this Warrant shall be construed as if such unenforceable
provision had never been contained herein.

 

17.     Headings.
The headings of the Sections of this Warrant are for convenience of reference only and shall not, for any purpose, be deemed a
part of this Warrant.

 

18.     Voting.
This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the Issuer prior to the exercise
hereof as set forth in Section 2.

 

 

 

 

[Signature page follows]

 

    	 	12	 

     

    

 

IN WITNESS WHEREOF,
the Issuer has executed this Warrant as of _________, 2015.

 

	 	 	 
	 	NAVIDEA BIOPHARMACEUTICALS, INC.
	
         

         
	
         

         
	
         

         

	 	By:	            	 
	 	Name:
	 	Title:

 

 

 

 

    	 	13	 

     

    

 

NAVIDEA BIOPHARMACEUTICALS, INC.

 

WARRANT

EXERCISE FORM

 

 

The undersigned                                                    ,
pursuant to the provisions of the within Warrant, hereby elects to purchase _____ shares of Common Stock of Navidea Biopharmaceuticals,
Inc. covered by the within Warrant.

 

	Dated:	 	 	Signature	 
	 	 	 	 	 
	 	 	 	Address	 
	 	 	 	 	 

 

Number of shares of Common Stock beneficially
owned or deemed beneficially owned by the Holder on the date of Exercise: _________________________

 

The undersigned is an “accredited investor” as defined
in Regulation D under the Securities Act of 1933, as amended.

 

The undersigned intends that payment
of the Warrant Price shall be made as (check one):

 

Cash Exercise _______

 

Cashless Exercise _______

 

If the Holder has elected a Cash Exercise,
the Holder shall pay the sum of $________ by certified or official bank check (or via wire transfer) to the Issuer in accordance
with the terms of the Warrant.

 

If the Holder has elected a Cashless Exercise,
a certificate shall be issued to the Holder for the number of shares equal to the whole number portion of the product of the calculation
set forth below, which is ___________.

 

X = Y - (A)(Y)

                 B

 

Where: 

 

The number
of shares of Common Stock to be issued to the Holder __________________(“X”).

 

The number of shares of Common Stock purchasable
upon exercise of all of the Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being exercised
___________________________ (“Y”).

 

The Warrant
Price ______________ (“A”).

 

The Per Share Market Value of one share
of Common Stock _______________________ (“B”).

 

    	 	14	 

     

    

 

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 corporation.

 

	Dated:	 	 	Signature	 
	 	 	 	 	 
	 	 	 	Address	 
	 	 	 	 	 

 

 

 

PARTIAL ASSIGNMENT

 

FOR VALUE RECEIVED, _________________ hereby
sells, assigns and transfers unto __________________ the right to purchase _________ shares of Warrant Stock evidenced by the within
Warrant together with all rights therein, and does irrevocably constitute and appoint ___________________, attorney, to transfer
that part of the said Warrant on the books of the within named corporation.

 

	Dated:	 	 	Signature	 
	 	 	 	 	 
	 	 	 	Address	 
	 	 	 	 	 

 

FOR USE BY THE ISSUER ONLY:

 

This Warrant No. ___ canceled (or transferred
or exchanged) this _____ day of ___________, _____, shares of Common Stock issued therefor in the name of _______________, Warrant
No. _____ issued for ____ shares of Common Stock in the name of _______________.

 

    	 	15Exhibit 10.1

 

LEASE AGREEMENT

 

This Lease Agreement
(this “Lease”), effective as of July 1, 2015, is made between Walton Empire Center V, L.L.C., a Delaware
limited liability company (“Landlord”), and Point.360, a California corporation (“Tenant”).

 

RECITALS

 

A.Landlord and
Modern VideoFilm, Inc., a Delaware corporation (“MVF”) are parties to a Lease dated as of December 6, 2010,
as amended by an undated agreement concerning excess power usage (as amended, the “MVF Lease”), for certain
premises more particularly described therein (the “MVF Premises”) within the building having a street address
of 2300 Empire Avenue, Burbank, California.

 

B.MVF and/or its
creditors sold certain of its assets to Tenant and it is contemplated that MVF and Landlord will terminate the MVF Lease effective
as of June 30, 2015 (the “Effective Termination Date”).

 

C.Subject to the
terms and conditions of this Lease and conditioned upon the termination of the MVF Lease, Tenant will, among other matters, lease
a portion of the MVF Premises known as Suite 100, have the right to use certain signage previously installed by MVF, and obtain
a short-term license to occupy a portion of the MVF Premises known as Suite 200.

 

NOW THEREFORE, in consideration
of the mutual terms and conditions herein contained, the parties hereby agree as follows:

 

ARTICLE 1

LEASE OF PREMISES; TERM

 

1.1Lease.
Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord the Premises, for the Term. “Premises”
means Suite 100 in the Building, which is shown on the floor plan attached as Exhibit A. “Building”
means the seven-story office building located at 2300 Empire Avenue, Burbank, California. “Term” means the period
commencing on the Commencement Date and ending twenty-four (24) months after the Commencement Date. “Commencement
Date” means July 1, 2015, subject to extension as provided herein. “Termination Date” means the
date on which this Lease terminates for any reason, including expiration of the Term. Notwithstanding anything contained in this
Lease to the contrary, Landlord shall have no obligation to give Tenant possession of the Premises until Landlord receives the
Security Deposit of $113,790.00 (37,930 RSF x $3.00/RSF), the first month’s installment of Base Rent in the amount of $113,790.00
(37,930 RSF x $3.00/RSF) as required by Section 2.1 below, the first months reserved ($625 or 5 x $125) and unreserved parking
payment ($9,250.00 or 185 x $50.00) as required by Section 8.5.1 below and a one-time payment of $300,000.00. These payments
aggregate to an initial payment in the amount of $537,455.00. Tenant shall have the non-exclusive right to use the common areas
of the Project as they exist from time to time. Subject to casualty, condemnation and compliance with reasonable security procedures,
Tenant shall have access to the Premises, Building and Parking Facilities twenty-four (24) hours per day, seven (7) days
per week. “Project” means the Building, the common areas, the Parking Facilities, and the land, collectively,
as shown on the site plan attached as Exhibit B. “Parking Facilities” means, collectively, the six-story
parking structure and the surface parking lots shown on such site plan. Landlord may temporarily close, make alterations or additions
to, or change the location of, elements of the Project as long as such changes do not materially adversely affect either Tenant’s
use of the Premises for the Permitted Use or Tenant’s ingress or egress from the Premises. Landlord shall have the right
to change the name, number or designation by which the Project or Building, or both, are commonly known.

 

    	 	1	Empire Center
Point.360

     

    

 

1.2As Is; No
Representations. Except as specifically provided in this Lease, Tenant’s lease of the Premises and use of the common
areas of the Project is on an “AS IS” basis. Landlord has not made any representation or warranty to Tenant regarding
(a) the condition or suitability of the Premises, or any other portion of the Project, for the conduct of Tenant’s business,
or (b) any Laws, liens, encumbrances, mortgages, easements, covenants, conditions, restrictions, agreements, or other instruments
or matters (collectively, the “Restrictions”) that may affect the conduct of Tenant’s business in, or
Tenant’s use of, the Premises, or any other rights or benefits under this Lease. As of the date of this Lease, Landlord has
not had the Project or the Premises inspected by a Certified Access Specialist (as that term is defined in California Civil Code
Section 55.52), and Landlord makes no representations or warranties regarding whether or not such an inspection has been performed
by any other party. Tenant (for itself and all others claiming through Tenant) irrevocably waives and releases Tenant’s rights
and claims under or in connection with Section 1938 of the California Civil Code, or any similar or successor Law.

 

1.3Extension
Options. Landlord hereby grants to Tenant four (4) consecutive options to extend the Term of this Lease for not less than all
of the Premises then being leased by Tenant, other than the Temporary Suites (as defined in Section 1 of the Addendum) and the
Second Floor Space (as defined in Section 3 of the Addendum) (each, an “Extension Option”), each for a period
of six (6) months (each, an “Option Term”). Except as otherwise provided herein, each such extension shall be
on the same terms, conditions and provisions as contained in this Lease (including escalation of the Base Rent by 3% per annum).
Except as provided in this Section 1.3, Tenant shall have no other rights to extend the Term. If Tenant wishes to exercise an Extension
Option, Tenant shall, on or before the date occurring 12 months prior to the expiration of the Term or the applicable Option Term,
as applicable, irrevocably exercise the Extension Option by delivering Notice (each, an “Exercise Notice”) thereof
to Landlord. If Tenant fails to timely deliver an Exercise Notice, the Extension Option (and any remaining Extension Options) shall
thereupon expire automatically. Tenant’s right to exercise the Extension Options is personal to, and may be exercised only
by Point.360, a California corporation (the “Original Tenant”) or any Transferee to whom Original Tenant’s
entire interest in this Lease or the Premises has been transferred in a Permitted Transfer. Notwithstanding anything in this Section
1.3 to the contrary, if an Event of Default has occurred at the time the Exercise Notice is received by Landlord or at any time
thereafter until the commencement date of the applicable Option Term, then Landlord shall have the right, in addition to all of
its other rights and remedies under this Lease, to unilaterally revoke Tenant’s exercise of the Extension Option, in which
case Tenant shall have no further rights under this Lease to renew or extend the Term and this Lease shall expire on the Termination
Date.

 

1.4Holdover.
If Tenant has provided Notice to Landlord at least 90 days prior to the expiration of this Lease, such Notice to include a
time period (up to three (3) months) (the “Permitted Hold-Over Period”) in which Tenant intends to remain in
the Premises, Tenant shall have the right to holdover possession for the Permitted Hold-Over Period under the same terms and conditions
as the previous Term including escalation of the Base Rent by 3% per annum. In the event such holdover possession exceeds the Permitted
Hold-Over Period or in the event of any other holdover, such possession shall be a tenancy at sufferance only at a rate of 125%
of Base Rent in effect upon the commencement of the Permitted Hold-Over Period. During any holdover possession, Tenant shall be
liable to perform all of the other obligations of Tenant set forth in this Lease. In addition, if Tenant has not vacated the Premises
within three (3) months after the expiration of the Permitted Hold-Over Period, Tenant shall be liable to Landlord for all losses
Landlord suffers as a result of such additional holdover possession, including any lost revenues and any amounts Landlord is required
to pay any new tenant (whether in the form of rent abatement, monetary damages or otherwise).

 

    	 	2	Empire Center
Point.360

     

    

 

ARTICLE 2

RENT

 

2.1Base Rent.

 

2.1.1Generally.
Tenant shall pay to Landlord the monthly Base Rent in effect from time to time on or before the first day of each full calendar
month during the Term; provided, that Tenant shall pay to Landlord the monthly Base Rent for the first full calendar month of the
Term prior to or concurrently with Tenant’s execution of this Lease. The Base Rent due for any partial calendar month at
the end of the Term shall also be prorated. Tenant shall pay to Landlord all items of Rent without deduction or offset and without
notice or demand (except as specifically provided in this Lease in respect of Additional Rent) to the payment address set forth
on the signature page of this Lease, or to such other person, at such other place, or in such other manner as Landlord may designate
by giving to Tenant Notice thereof. Except as otherwise provided in this Lease, all Rent shall be due 30 days after Landlord
gives to Tenant demand therefor.

 

2.1.2Defined Terms.

 

(a)“Base
Rent” means:

 

	Period	Annual Base Rent	Monthly Base Rent
	7/1/15 – 6/30/16	$1,365,480.00	$113,790.00
	7/1/16 – 6/30/17	$1,406,444.40	$117,203.70

 

(b)“Additional
Rent” means all amounts payable by Tenant to Landlord in accordance with this Lease, other than Base Rent.

 

(c)“Rent”
means all amounts payable by Tenant to Landlord in accordance with this Lease.

 

2.2Expenses
and Taxes.

 

2.2.1Generally.
For each Expense Year during the Term, Tenant shall pay to Landlord (a) Tenant’s Share of the Expenses in excess of the Expenses
for the Base Year (“Tenant’s Expense Payment”) and (b) Tenant’s Share of the Taxes in excess of
the Taxes for the Base Year (“Tenant’s Tax Payment”); provided that no decrease in the Expenses or the
Taxes for any Expense Year from the Expenses or the Taxes for the Base Year shall entitle Tenant to any credit against Rent.

 

2.2.2Defined Terms.

 

(a)“Expense
Year” means each calendar year after the Base Year occurring in whole or in part during the Term.

 

(b)“Base
Year” means calendar year 2015.

 

(c)“Tenant’s
Share” means 10.797%.

 

(d)“Expenses”
means all expenses, costs, and amounts of any kind or nature that Landlord pays or incurs because of, or in connection with, the
ownership, operation, maintenance, security, repair, replacement, restoration, or management of any portion of the Project, and,
if less than 95% of the rentable area of the Building is leased during the Expense Year in question, then together with the additional
Expenses that Landlord would have paid or incurred if 95% of the rentable area of the Building had been leased during the Expense
Year in question. Expenses shall not include (i) depreciation and amortization of the Project and equipment in the Project
except amortization of (A) the cost of personal property, over the useful life of such personal property, together with interest
on the unamortized portion of such cost at the Applicable Rate, (B) the cost of capital improvement items that Landlord reasonably
expects to reduce the Expenses, but only to the extent of the reduction actually achieved, over the expected period of reduction
of the Expenses, together with interest on the unamortized portion of such cost at the Applicable Rate, and (C) the cost of any
other capital improvement items required by the Restrictions first enforceable after the date of this Lease, over the useful life
of such capital improvement items, together with interest on the unamortized portion of such cost at the Applicable Rate, (ii)
loan principal payments, (iii) costs of altering premises leased to tenants, (iv) leasing commissions, (v) interest expenses
on long-term borrowings, or (vi) advertising costs. Further, from and after January 1, 2016, Tenant shall not be responsible
for payment of any increases in the Capped Expenses that exceeds the Maximum Permitted Increase. Uncapped Expenses shall be calculated
without any cap or limit on annual increases.

 

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(e)“Applicable
Rate” means the greater of (i) the prime lending rate announced by the Wall Street Journal on the date the calculation
in question is made, plus 200 basis points, or (ii) the rate actually paid by Landlord to borrow funds to pay for the amount in
question.

 

(f)“Law(s)”
means all present and future federal, state, county, and local governmental and municipal laws, statutes, ordinances, rules, regulations,
codes, decrees, orders, and other requirements, equitable remedies and decisions by courts in cases where such decisions are considered
binding precedents in California, and decisions of federal courts applying the law of California.

 

(g)“Taxes”
means all real estate taxes, fees, assessments and other charges of any kind or nature, whether general, special, ordinary, or
extraordinary, that Landlord shall pay or accrue during any Expense Year (without regard to any different fiscal year used by such
governmental authority) that are levied in respect of the Project, or in respect of any improvement, fixture, equipment, or other
property of Landlord, real or personal, located in the Project, and used in connection with the operation of the Project, and all
fees, expenses, and costs incurred by Landlord in investigating, protesting, contesting, or in any way seeking to reduce or avoid
increases in any assessments, levies, or the tax rate pertaining to the Taxes, and, if less than 95% of the rentable area of the
Building is leased during the calendar year in question, then together with the additional Taxes that would have been levied if
95% of the rentable area of the Building had been leased during the calendar year in question. Taxes shall not include corporate
franchise taxes, estate taxes, inheritance taxes, net income taxes, or any taxes to be paid or reimbursed by Tenant in accordance
with Article 2.2.5.

 

(h)“Capped
Expenses”: Shall mean the Expenses exclusive of the Uncapped Expenses.

 

(i)“Maximum
Permitted Increase”: Shall mean five percent (5%) of the Capped Expenses with respect to the preceding twelve month period
on a cumulative, compounded basis. In other words, if the percentage increase in the Capped Expenses is (a) less than the Maximum
Permitted Increase, then the Capped Expenses shall be increased by their actual percentage increase plus that portion of the percentage
increase, if any, not employed in connection with a prior increase in the Capped Expenses due to the fact that in such prior period(s)
the percentage increase exceeded the Maximum Permitted Increase or (b) more than the Maximum Permitted Increase, then the Capped
Expenses shall be increased by the Maximum Permitted Increase plus that portion of the percentage increase, if any, not employed
in connection with a prior increase in the Capped Expenses due to the fact that in such prior period(s) the percentage increase
was less than the Maximum Permitted Increase.

 

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(j)“Uncapped
Expenses”: Shall mean the third party utilities, insurance, security and capital expenditures. For the avoidance of doubt,
Taxes, which are payable pursuant to Section 2.2.1(b), are not Capped Expenses (or Expenses) and are not subject to the Maximum
Permitted Increase.

 

(k)“Qualified
Person” means an accountant or other person selected by Tenant experienced in accounting for income and expenses of office
projects engaged solely by Tenant on terms that do not entail any compensation based or measured in any way upon any savings in
Additional Rent or reduction in Expenses achieved through the review process.

 

2.2.3Estimated
Statement. Before the first day of each Expense Year, or as soon thereafter as is reasonably practicable, Landlord may give
to Tenant Landlord’s estimate of Tenant’s Expense Payment and Tenant’s Tax Payment for such Expense Year (each,
an “Estimated Statement”); provided that if Landlord fails to timely give Tenant any Estimated Statement, such
failure shall not constitute waiver of Tenant’s obligation to pay Tenant’s Expense Payment or Tenant’s Tax Payment.
On or before the first day of each calendar month during an Expense Year, Tenant shall pay to Landlord, in advance, 1/12 of Tenant’s
Expense Payment and Tenant’s Tax Payment set forth on the applicable Estimated Statement (each, a “Monthly Expense
and Tax Installment”); provided that if Landlord fails to give to Tenant an Estimated Statement before the first day
of an Expense Year, then Tenant shall continue to pay to Landlord on or before the first day of each calendar month the amount
of the Monthly Expense and Tax Installment applicable to the last month of the immediately preceding Expense Year until Landlord
gives to Tenant the applicable Estimated Statement, and then Tenant shall pay to Landlord, or Landlord shall credit to Tenant (as
applicable), any underpayment or overpayment of such Monthly Expense and Tax Installments indicated by the Estimated Statement
with the next Monthly Expense and Tax Installment coming due.

 

2.2.4Annual Statement.
Within 120 days after the last day of the Base Year and of each Expense Year, Landlord shall give to Tenant a statement of the
Expenses and the Taxes for the Base Year or the applicable Expense Year (each, an “Annual Statement”). Landlord’s
failure to timely give to Tenant any Annual Statement shall not impair or constitute waiver of Tenant’s obligation to pay
Tenant’s Expense Payment or Tenant’s Tax Payment. Within 30 days after Landlord gives to Tenant an Annual Statement,
(a) if the total of the Monthly Expense and Tax Installment actually paid by Tennant for the Expense Year is less than the total
of Tenant’s Expense Payment and Tenant’s Tax Payment, then Tenant shall pay to Landlord such deficiency, or (b) if
the total of the Monthly Expense and Tax Installments actually paid by Tenant for the Expense Year is more than the total of Tenant’s
Expense Payment and Tenant’s Tax Payment, then Landlord shall credit to Tenant against Rent next due (or, if the Term has
ended, refund in cash) such overpayment.

 

2.2.5Other Taxes.
Tenant shall pay prior to delinquency, or, if payable by Landlord, reimburse to Landlord, any and all taxes, fees, assessments,
and other charges (other than Landlord’s net income taxes), whether or not customary or within the contemplation of the parties
to this Lease as of the date of this Lease levied or imposed by any governmental body having authority: (a) upon, allocable to,
or measured by the Rent, (b) upon, or with respect to, the possession, leasing, operation, management, maintenance, alteration,
repair, use, or occupancy of the Premises, or (c) upon, or measured by, Tenant’s gross receipts or payroll, or the value
of Tenant’s Personalty or the Tenant Alterations.

 

2.2.6Tenant’s
Review Rights. Provided that Tenant is not then in default beyond the expiration of any applicable cure periods, Tenant shall
have the right, once each Expense Year, to cause a Qualified Person to reasonably review supporting data for any portion of an
Annual Statement delivered to Tenant by Landlord, including real estate tax statements, and information on utilities, repairs,
maintenance and insurance and any other costs related to Expenses charged to Tenant, in accordance with the following procedure:

 

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(a)Tenant shall,
within 180 days after any Annual Statement is delivered, deliver a Notice to Landlord specifying Tenant’s election to
review such Annual Statement and Tenant shall simultaneously pay to Landlord all amounts due from Tenant to Landlord as specified
in the Annual Statement for the Expense Year. In no event shall Tenant be entitled to withhold, deduct, or offset any monetary
obligation of Tenant to Landlord under this Lease (including, without limitation, Tenant’s obligation to make all payments
of Base Rent and Tenant’s Share of Expenses and Taxes) pending the completion of, and regardless of the results of, any review
of records under this Section 2.2.6. The right of Tenant under this Section 2.2.6 may only be exercised once for any
Annual Statement (and only once for the Base Year), and if Tenant fails to meet any of the above conditions as a prerequisite to
the exercise of such right, the right of Tenant under this Section 2.2.6 for a particular Annual Statement shall be deemed
waived.

 

(b)Tenant acknowledges
that Landlord maintains its records for the Project at the office of Landlord’s property manager located at the Project,
and Tenant agrees that any review of records under this Section 2.2.6 shall be at the sole expense of Tenant (except as otherwise
specifically set forth in Section 2.2.6(c) below) and shall be conducted by a Qualified Person at such location.

 

(c)If the results
of Tenant’s review show that Landlord has overcharged Tenant, then Tenant may so notify Landlord in writing and if Landlord
does not object in writing to such results within 45 days following its receipt of such notice, Landlord shall, at Landlord’s
election, either give Tenant a credit against Rent next due or reimburse Tenant in the amount equal to the amount of such overcharge.
If Landlord does timely object to such results, then either party may submit such dispute to arbitration in accordance with the
Commercial Rules of the American Arbitration Association, and Tenant shall not be entitled to reimbursement or a credit unless
and until such time as the dispute is resolved in Tenant’s favor. Tenant agrees to pay the cost of Tenant’s review,
provided that if any legal proceeding or the review (if Landlord fails to object) shows that Landlord’s determination of
the contested sums set forth in the Annual Statement was overstated by more than 5%, Landlord shall pay the reasonable out of pocket
cost of such review.

 

2.2.7Confidentiality.
Subject to court order or applicable Laws, Tenant shall keep strictly confidential and shall cause any Qualified Person reviewing
Landlord’s records on behalf of Tenant to keep strictly confidential, the information in Landlord’s records, any compilations,
comparisons, summaries or other work product prepared by Tenant or such Qualified Person based upon any review of Landlord’s
records, any adjustments to Expenses or Tenant’s Share of Expenses made by Landlord based upon any such review, and any discussions
or negotiations between Landlord and Tenant regarding the same. The information in Landlord’s records and any compilations,
comparisons, summaries or other work product prepared by or for Tenant based thereon shall be used solely for the purpose of evaluating
the accuracy of the Annual Statement. Tenant acknowledges and agrees that any records reviewed under Section 2.2.6 constitute
confidential information of Landlord, which shall not be disclosed to anyone other than the Qualified Person performing the review,
Tenant’s attorneys, the principals of Tenant who receive the results of the review, and Tenant’s accounting employees,
and as required to be disclosed by court order or applicable Law. The disclosure of such information to any other person, including
any other tenant at the Project, by Tenant, the Qualified Person engaged by Tenant to review Landlord’s records, or any of
Tenant’s employees, consultants, attorneys, accountants or agents shall constitute a material breach of this Lease.

 

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2.3Late Payments.
Together with each payment of Rent that Tenant pays to Landlord after such payment is due, Tenant shall pay to Landlord the Late
Charge and interest calculated on the amount of such payment (plus the Late Charge) over the period commencing on the day immediately
following the day on which such payment was due and ending on the day on which Tenant pays to Landlord such payment at the rate
of 12%. “Late Charge” means, in respect of any such payment, the greater of (a) $200.00 or (b) 5% of such payment,
plus, in respect of any such payment that Tenant fails to pay to Landlord for more than 30 days after such payment is due, the
amount calculated by adding the Late Charge to such payment and applying the Late Charge to the increased amount of such payment
(which calculation shall be repeated for each additional increment of 30 days after which Tenant fails to pay to Landlord such
payment).

 

2.4Security
Deposit. Concurrently with Tenant’s execution of this Lease, Tenant shall deposit with Landlord the Security Deposit.
“Security Deposit” means cash in the amount of $113,790.00. Landlord shall hold the Security Deposit as security
for Tenant’s full and faithful performance of all of the provisions of this Lease, and not as an advance rental deposit or
as a measure of Landlord’s damages in case of Tenant’s default. If Tenant defaults under this Lease, then Landlord
may use or retain all or any portion of the Security Deposit for the payment of any Rent in default, or for the payment of any
amount that Landlord may spend or become obligated to spend by reason of Tenant’s default, or to compensate Landlord for
any other loss or damage that Landlord may suffer by reason of Tenant’s default, whether foreseen, unforeseen, or unforeseeable.
If Landlord so uses or retains any portion of the Security Deposit, then Tenant shall, within 30 days after Landlord’s demand
therefor, deposit cash with Landlord an amount sufficient to restore the Security Deposit to its original amount. Landlord shall
not be required to keep the Security Deposit separate from Landlord’s general funds, and Tenant shall not be entitled to
interest on the Security Deposit. Tenant (for itself and all others claiming under Tenant) hereby irrevocably waives and releases
its rights under Section 1950.7 of the California Civil Code, as the same may be amended from time to time, and any similar or
successor Law and agrees that (a) Landlord may also claim and apply such sums reasonably necessary to compensate Landlord
for any other loss or damage, foreseeable or unforeseeable, caused by any act or omission of Tenant or by any Tenant Parties and
(b) if Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the Security Deposit,
or any balance thereof after the aforementioned agreed-upon deductions have been made, shall be returned to Tenant within 60 days
after the Termination Date.

 

ARTICLE 3

USE; HAZARDOUS MATERIALS

 

3.1Use.
Tenant shall use the Premises solely for the Permitted Use and shall comply with all applicable Restrictions and the rules and
regulations for the Project as established and modified from time to time. “Permitted Use” means for general
office purposes (including, general business, post-production form work and purposes incidental thereto) and for any other lawful
purpose consistent with uses permitted by comparable landlords of comparable space in comparable first-class projects in the vicinity
of the Project and for no other purpose whatsoever. Tenant shall not do, or permit Tenant Parties to do, anything in or about the
Premises that in any way obstructs or interferes with the rights of other tenants or occupants of the Project, or injures, annoys,
or disturbs such tenants or occupants. Tenant shall not use, or allow Tenant Parties to use, the Premises for any improper, immoral,
unlawful, or objectionable purpose. Tenant shall not commit, or allow Tenant Parties to commit, any waste of the Premises. Tenant
shall not do, or permit Tenant Parties to do, anything on or about the Premises that in any way increases the rate, or invalidates
or prevents the procuring, of any insurance protecting against loss or damage to any portion of the Project or its contents, or
against liability for damage to property or injury to persons in or about any portion of the Project. “Tenant Parties”
means Tenant’s agents, contractors, employees, customers, licensees, invitees, assignees, and subtenants.

 

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3.2Hazardous
Materials. Tenant shall not, and shall not permit Tenant Parties to, at any time, handle, use, manufacture, store, or dispose
of Hazardous Materials in or about any portion of the Project. Notwithstanding the foregoing, Tenant may handle, use, store, and
dispose of products containing small quantities of Hazardous Materials (e.g., aerosol cans containing insecticides, toner
for copiers, paints, paint remover) to the extent customary and necessary for the Permitted Use; provided that Tenant shall always
handle, use, store, and dispose of such products in a safe manner and in compliance with Restrictions and shall never allow such
products to contaminate any portion of the Project. “Hazardous Materials” means flammables, explosives, corrosive
materials, radioactive materials, materials capable of emitting toxic fumes, hazardous wastes, toxic wastes or materials, and other
similar substances, petroleum products and derivatives, and any substance subject to regulation by or under any Laws relating to
the protection of the environment or the keeping, use, transportation, or disposition of environmentally hazardous materials, substances,
or wastes, all amendments to any of them.

 

ARTICLE 4

ALTERATIONS

 

4.1Alterations.

 

4.1.1General Prohibition.
Except as otherwise provided in this Lease, Tenant shall not make or allow to be made any Alterations without the prior written
consent of Landlord, which may be given, conditioned, delayed or withheld in Landlord’s sole discretion. “Alterations”
means any alterations, additions, or improvements to the Premises, including the attachment of any fixtures or equipment in, on,
or to any part of the Premises. If Tenant requests Landlord’s consent to any Alterations, then, if requested by Landlord,
Tenant shall give to Landlord complete plans and specifications for such Alterations. Landlord’s approval of any Alterations
(and the plans and specifications for such Alterations) shall not constitute Landlord’s express or implicit covenant or warranty
that such Alterations or such plans and specifications are safe or that the same comply with all Restrictions.

 

4.1.2Requirements.
If Landlord consents to any Alterations, then in addition to any other conditions Landlord may impose (a) Tenant shall contract
for the performance of such Alterations with a contractor approved by Landlord, (b) Tenant shall cause all Alterations to
be constructed free of all liens, in accordance with all Restrictions and with the provisions of Landlord’s current version
of the “Tenant Improvement Building Standards” (a copy of which Landlord shall give to Tenant upon Tenant’s request
therefor), (c) Tenant provide assurance that it will pay the costs of the Alterations and that Landlord and the Project will
be protected against any loss from any mechanic’s, materialmen’s, or other liens, which assurances Landlord may require
to be in the form of surety company performance bonds or funded construction escrows, and (d) prior to the commencement of
the construction of any Alterations, Tenant shall give to Landlord evidence of the insurance required by Section  7.2.4.

 

4.1.3Fees &
Costs. Landlord shall charge Tenant a construction management fee equal to 5% of the cost of any Alterations to cover Landlord’s
overhead as it relates to such Alterations. Tenant shall reimburse Landlord for all third-party costs actually incurred by Landlord
in connection with any Alterations.

 

4.1.4Completion.
Upon the completion of any Alterations, (a) Tenant shall timely cause to be recorded a Notice of Completion in respect of such
Alterations in the office of the Recorder of the County of Los Angeles in accordance with Section 3093 of the California Civil
Code, and Tenant shall give to Landlord a conformed copy of such Notice of Completion and (b) Tenant shall give to Landlord a reproducible
copy of “as-built” drawings of such Alterations.

 

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4.1.5Ownership
of Alterations. Any Alterations that are paid for by Landlord (“Landlord Alterations”) shall belong to Landlord,
subject to Landlord’s right to require removal thereof in accordance with Section 5.2.2. Any Alterations that are paid for
by Tenant (“Tenant Alterations”) shall belong to Tenant until the Termination Date, at which time Tenant’s
Alterations shall belong to Landlord, subject to Landlord’s right to require removal thereof in accordance with Section 5.2.3.

 

4.2Tenant Security
System. Tenant shall have the right, at its sole cost and expense, to install its own access card system or other security
system approved by Landlord in its reasonable discretion at the entry to the Premises; provided that Landlord shall have the right
to retain and use all access cards, keys or other access codes or devices to all locks within and into the Premises.

 

4.3Directory
Board. Landlord shall list Tenant’s name (and if Tenant requests, the names of up to 50 of Tenant’s employees or
departments (or a combination of both) in the electronic tenant directory in the main lobby of the Building.

 

4.4Existing
Exterior Signage. Subject to the terms and conditions set forth below, Tenant shall have the right (but not the obligation)
to allow the following signage previously installed by MVF to remain in place or to replace such signage: (a) the rooftop
sign (“Tenant’s Rooftop Sign”), (b) the panels on the Building’s monument (“Tenant’s
Panels”) and (c) the eyebrow signage (“Tenant’s Eyebrow Signage”) (the Tenant’s Rooftop
Sign, Tenant’s Eyebrow Signage and Tenant’s Panels are collectively be referred to as “Tenant’s Exterior
Signage”). Tenant’s right to use Tenant’s Exterior Signage is subject to Tenant’s compliance with all
Laws in effect from time to time. Tenant shall be responsible for all costs and expenses associated with the operation, maintenance,
insurance, repairs and replacement of Tenant’s Exterior Signage. Without limiting the foregoing, Tenant shall reimburse Landlord
as Additional Rent within 30 days of demand by Landlord for any utility charges, and hook-up allocable to Tenant’s Exterior
Signage. Notwithstanding the foregoing, (i) Tenant shall have the right to use Tenant Panels and the Tenant’s Eyebrow
Signage as provided above only for so long as Tenant has a lease agreement for, and occupies, at least 37,930 rentable square feet
of space at the Project, exclusive of the Temporary Suites, and (ii) Landlord shall have the right to terminate and remove
Tenant’s Roof Top Signage at any time during the Term on not less than 15 days prior Notice to Tenant. Landlord shall be
responsible for the costs of removing Tenant’s Roof Top Signage and any damage caused by such removal. Upon the termination
of this Lease or earlier termination of Tenant’s right to use Tenant’s Panels and Eyebrow Signage, Tenant shall remove
Tenant’s Panels and Tenant’s Eyebrow Signage, shall repair any damage caused by such removal and by the initial installation
thereof. In no event shall Tenant’s Exterior Signage rights be separated in any way from this Lease.

 

ARTICLE 5

REPAIR AND MAINTENANCE

 

5.1Landlord’s
Obligations. Landlord shall repair and maintain the common areas and the structural portions of the Building, including the
Base Building Systems, to keep same in good condition. “Base Building Systems” means the base plumbing, fire
life-safety, mechanical, and electrical systems of the Building. Landlord shall not be liable for any failure to perform any repair
or maintenance unless such failure persists for an unreasonable time after Tenant gives to Landlord Notice of the need for such
repair or maintenance. Landlord shall not be liable for any damages caused to Tenant by performance of Landlord’s repair
and maintenance obligations, and Tenant shall not be entitled to any abatement of Rent in connection therewith. Tenant (for itself
and all others claiming through Tenant) hereby irrevocably waives and releases its rights to perform repairs or maintenance at
Landlord’s expense under Sections 1941 and 1942 of the California Civil Code or any similar or successor Law, as the
same may be amended.

 

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5.2Tenant’s
Obligations.

 

5.2.1Repair and
Maintenance. Tenant shall repair and maintain the Premises to keep same in good condition and consistent with the appearance
of other similar facilities of comparable age and size in the vicinity. Tenant shall contract for the performance of repairs and
maintenance in the Premises with licensed and reputable contractors of Tenant’s choosing if approved in writing by Landlord.
If Tenant fails to so repair and maintain the Premises, then, upon 10 days’ Notice, Landlord may do so on Tenant’s
behalf, and Tenant shall reimburse Landlord for the cost thereof, plus an administrative fee of 5% of such costs.

 

5.2.2Janitorial
Service. Each Expense Year during the Term Tenant shall have the right to elect to provide its own Building standard janitorial
service for the Premises, including for the Temporary Suites (if applicable). If Tenant so elects, Landlord shall credit Tenant
on a monthly basis against Expenses an amount equal to 1/12th of the Janitorial Credit for such Expense Year. Before
the first day of each Expense Year after the Base Year, Landlord shall give Tenant Landlord’s determination of the Janitorial
Credit Tenant would be entitled to receive from Landlord if it were to elect to provide its own janitorial services for the Premises
during such Expense Year. Tenant shall have 15 days after receipt of such determination to elect by Notice to Landlord whether
or not to provide its own Building standard janitorial service for the Premises during such Expense Year. The amount of the Janitorial
Credit for each Expense Year shall be determined by Landlord in Landlord’s discretion based upon the cost of the janitorial
services that would otherwise be provided by Landlord during such Expense Year. Tenant has elected to provide its own janitorial
services for the Premises and the Second Floor Space during the Base Year and will be entitled to a Janitorial Credit of $3,815
per month for the remaining portion of the Base Year.

 

5.2.3Condition
of Premises on Surrender. Except as otherwise provided in this Section 5.2, upon the Termination Date, all Alterations,
whether Landlord Alterations or Tenant Alterations, shall belong to Landlord without compensation, and title shall pass to Landlord
under this Lease. On the Termination Date, Tenant shall give Landlord possession of the Premises, together with all such Alterations,
in the same condition as when received or first installed, broom clean and free of all debris, excepting only ordinary wear and
tear and damage that Tenant is not required to repair or restore under this Lease. Notwithstanding the foregoing, if Landlord so
elects by Notice given to Tenant prior to the Termination Date, then on or prior to the Termination Date Tenant shall remove any
Alterations designated in such Notice and repair any damage caused by such removal. On or prior to the Termination Date Tenant
shall also remove all of Tenant’s furniture, furnishings, electronic data processing equipment, and other equipment, and
movable partitions of less than full height from floor to ceiling and other personal property (collectively, the “Personalty”)
and trade fixtures, including all communications or computer wires, cables, fibers and connections, whether inside walls, under
any raised floor or above any ceiling. All of Tenant’s Personalty and trade fixtures not so removed by Tenant, may be removed
from the Premises by Landlord and stored, at Tenant’s sole risk and expense and in any event, Landlord shall not be responsible
for the value, preservation, or safekeeping thereof. Tenant shall pay to Landlord, upon demand, all expenses so incurred by Landlord,
including the cost of repairing any damage caused by removal and storing such Personalty and/or trade fixtures. Any such Personalty
and trade fixtures not claimed by Tenant within 30 days after Tenant’s surrender of the Premises shall, at Landlord’s
option, be deemed either abandoned or conveyed by Tenant to Landlord under this Lease without further payment or credit by Landlord
to Tenant.

 

5.2.4Generation
and Supplemental Cooling.

 

(a)Tenant represents
and warrants that it is the owner of the above-ground emergency diesel generator (together with any equipment, wiring, cabling
and conduit required in connection therewith, the “Generator”) and the supplemental heating, ventilation and
air conditioning system (the “Supplemental HVAC”) previously installed at the Project by MVF, which Generator
and Supplemental HVAC (collectively, the “Supplemental Equipment”) exclusively serve the first and second
floors of the Building. Upon Tenant’s execution of this Lease, Tenant shall provide to Landlord with reasonable evidence
showing that Tenant is the current owner of the Supplemental Equipment and that all applicable permits for the operation of the
same have transferred from MVF to Tenant.

 

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(b)Landlord and
Tenant shall work together in good faith to establish an equitable manner in which to allocate the costs and expenses associated
with the operation, maintenance, insurance, repair and replacement of the Supplemental Equipment. Notwithstanding the foregoing,
after Tenant vacates the Second Floor Space, as described in Section 3 of the Addendum, to the extent the Supplemental Equipment
continues to serve the second floor of the Building, Landlord shall be responsible for that portion of the costs and expenses associated
with the operation and maintenance of the Supplemental Equipment that are attributable to the second floor of the Building, as
determined by Landlord in its sole but good faith discretion.

 

(c)Not less than
12 months prior to the expiration of the Term Landlord shall provide Notice to Tenant (the “Supplemental Equipment Notice”)
advising Tenant whether upon the expiration of the Term Tenant will be required to leave the Supplemental Equipment in place or
remove it and to restore the Building and Project to the condition that existed prior to the installation of the Supplemental Equipment,
normal wear and tear excepted. If Tenant does not receive the Supplemental Equipment Notice Tenant shall provide Notice to Landlord
requesting that Landlord provide it and Landlord shall have 30 days after receipt of such Notice to do so. If Landlord does not
require Tenant to remove the Supplemental Equipment pursuant to the provisions hereof, then upon expiration of the Term the Supplemental
Equipment shall, without payment by Landlord, become the property of Landlord and Tenant shall cause all applicable permits for
the operation of the same to be transferred to Landlord. If Landlord requires the Supplemental Equipment to be removed and Tenant
fails to do so prior to the expiration of the Term, then Landlord may, after 30 days’ Notice to Tenant, remove the Supplemental
Equipment at Tenant’s expense (without limiting Landlord’s other remedies available under this Lease or applicable
Laws).

 

5.3Tenant's
Right to Make Repairs. If Tenant provides Notice to Landlord of an event or circumstance which (i) requires the action of Landlord
with respect to repairs and/or maintenance to the Premises which Landlord is expressly required under this Lease to provide, maintain
or repair and (ii) poses a material danger to people or property located in the Premises, and Landlord fails to provide such
action as required by the terms of this Lease within thirty (30) days after receipt of such Notice (or such longer period of time
if the nature of such action is such that the same cannot reasonably be completed within a thirty (30) day period, provided Landlord
has diligently and continuously commenced such action within such period and thereafter diligently proceeds to complete said action
as soon as possible), then Tenant may proceed to take the required action upon delivery of an additional three (3) business day
Notice to Landlord specifying that Tenant is taking such required action, unless Landlord commences such required action within
such three (3) business day period. In connection with the foregoing, Tenant shall be entitled to reimbursement by Landlord within
thirty (30) days after request by Tenant for Tenant's reasonable costs and expenses actually incurred by Tenant in taking such
action plus ten percent (10%) interest during the period from the date such costs and expenses are due until such time as payment
is made by Landlord. Notwithstanding the foregoing, in the event of a bona fide emergency (i.e., imminent peril to persons or significant
property), the thirty (30)-day period set forth above shall be reduced to 24 hours (or such longer period of time as is reasonable
under the circumstances), and no second Notice shall be required; provided, however, in no event shall such emergency repairs or
other action exceed what is reasonably required to end the pending emergency. Further, if Landlord fails to reimburse Tenant as
required above, then within ten (10) days after receipt of Notice by Tenant, unless Landlord is in good faith contesting the necessity
of such repairs or the amounts contained in Tenant's invoice and has given Tenant Notice of such good faith contest, Tenant shall
be entitled to deduct from Rent payable by Tenant under this Lease, until the amount set forth in such invoice (together with the
ten percent (10%) interest) has been fully paid.

 

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ARTICLE 6

ASSIGNMENT AND SUBLETTING

 

6.1General Prohibition
on Transfers.

 

6.1.1Transfers
Generally. Tenant shall not, directly or indirectly, make a Transfer, except in accordance with this Article 6, without
the prior written consent of Landlord, such consent not to be unreasonably withheld, and any purported Transfer that does not comply
with the provisions of this Article 6 shall be void.

 

6.1.2Defined Terms.

 

(a)“Transfer”
means any assignment, pledge, mortgage, hypothecation, encumbrance, lien attaching to, or other transfer of this Lease, or any
sublet or other transfer of any portion of the Premises, or any Interest Transfer, in any case whether voluntarily, by operation
of Law, or otherwise, or permitting the Premises to be used or occupied by anyone other than Tenant.

 

(b)“Transferee”
means the party to which a Transfer is made.

 

(c)“Interest
Transfer” means if Tenant is a corporation, trust, partnership, limited liability company or other entity, (a) the
transfer of a Controlling Interest in the voting stock, beneficial interest, partnership interests, membership interests or other
ownership interests therein (whether at one time or in the aggregate) or (b) the sale, mortgage, hypothecation, or pledge
of more than 25% of Tenant’s net assets. Notwithstanding the foregoing, if Tenant is a publicly traded company, no change
of stock ownership of Tenant shall constitute an Interest Transfer. A “Controlling Interest” means the effective
control over the management of such entity.

 

6.1.3Consent Requests.
If Tenant desires to assign this Lease, sublease all or any part of the Premises, or effect an Interest Transfer, then Tenant shall
give to Landlord Notice thereof at least 30 days, but not more than 60 days, prior to the proposed effective date of
the Transfer, which Notice shall include (a) the name and address of the proposed Transferee, (b) the relevant terms
of the Transfer, (c) copies of financial reports and other relevant financial information for the proposed Transferee, (d) information
regarding the nature of the business the proposed Transferee intends to operate in the Premises and how long the proposed Transferee
has operated such business, (e) a draft of the document to be used to effect the Transfer (the “Transfer Document”),
and (f) payment to Landlord of $1,000 as a transfer review fee. In addition to such review fee, Tenant shall reimburse Landlord
for all of Landlord’s costs, including reasonable attorneys’ fees, incurred in investigating, considering, reviewing,
processing, and documenting any proposed Transfer, regardless of whether Landlord shall consent or refuse consent thereto. Landlord
may give, condition, delay or withhold its consent to a Transfer in Landlord’s sole and absolute discretion.

 

6.1.4Recapture.
Landlord shall have the option, in its sole discretion, (a) in the event of any proposed assignment of this Lease or Transfer
of the entire Premises or, (b) in the case of a proposed Transfer of less than the entire Premises, to terminate this Lease
[in the case of a Transfer described in clause (a)] to recapture the portion of the Premises proposed to be Transferred [in the
case of a Transfer described in clause (b)], as of the date the Transfer is to be effective. The option shall be exercised by Landlord
giving Tenant written notice of its election to terminate this Lease or recapture the portion of the Premises to be Transferred,
as applicable, within 30 days following Landlord’s receipt of Tenant’s notice requesting consent to the Transfer
as required above. If this Lease shall be terminated pursuant to this Section 6.1.4, the Term shall end on the date stated
in Tenant’s notice as the effective date of the Transfer as if that date had been originally fixed in this Lease for the
expiration of the Term. If Landlord recaptures only a portion of the Premises, the Base Rent and Expenses and Taxes payable pursuant
to Section 2.2 shall abate proportionately based on the proportion by which the approximate rentable square feet of the remaining
portion of the Premises shall be less than that of the Premises as of the date immediately prior to such recapture. Tenant shall,
at Tenant’s own cost and expense, discharge in full any outstanding commission obligation that may be due and owing as a
result of any proposed Transfer, whether or not the Premises are recaptured pursuant to this Section 6.1.4 and rented by Landlord
to the proposed Transferee or any other tenant.

 

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6.1.5Transfer
Premium. In the event of a Transfer, at Landlord’s option, Tenant shall pay to Landlord as Additional Rent an amount
equal to 50% of any Increased Rent, less the Costs Component (the “Transfer Premium”), when and as such Increased
Rent is received by Tenant. As used in this Section, “Increased Rent” shall mean the excess of (a) all
rental and other consideration that Tenant is entitled to receive by reason of any Transfer, over (b) the Rent otherwise payable
by Tenant under this Lease at such time. For purposes of the foregoing, any consideration received by Tenant in form other than
cash shall be valued at its fair market value as determined by Landlord in good faith. The “Costs Component”
is that amount which, if paid monthly, would fully amortize on a straight line basis, over the entire period for which Tenant is
to receive Increased Rent, the reasonable costs incurred by Tenant for third party market rate leasing commissions and tenant improvements
in connection with such Transfer.

 

6.1.6Reasonableness
Standard. Notwithstanding any other provision hereof, it shall be considered reasonable for Landlord to withhold its consent
to any Transfer if (a) the proposed Transferee is a person or an entity (i) with which Landlord is already in negotiation;
(ii) that is already an occupant of the Building, unless Landlord is unable to provide the amount of space required by such
occupant; (iii) that is a governmental subdivision or agency or who enjoys diplomatic or sovereign immunity; (iv) that
is of a character, has a reputation or is engaged in a business that is incompatible with the standards of Landlord in the Building;
or (v) that is not of reasonable financial strength in light of the responsibilities to be undertaken in connection with the
Transfer; (b) payment for the Transfer is determined in whole or in part based upon the Transferee’s net income or profits;
(c) the Transfer would subject the Premises to a use which would: (i) involve increased personnel or wear upon the Building,
such as a call center or trade school; (ii) violate any exclusive right granted to another tenant of the Building or give
a tenant of the Building a right to cancel its lease; (iii) require any addition to or modification of the Premises or any
other portion of the Project in order to comply with applicable Law or other governmental requirements; or (iv) involve a
violation of Article 3 of this Lease. Notwithstanding any contrary provision of Law, including, without limitation, California
Civil Code Section 1995.310, the provisions of which Tenant hereby waives, Tenant shall have no right to terminate this Lease,
in the event Landlord is determined to have unreasonably withheld or delayed its consent to a proposed Transfer.

 

6.1.7Permitted
Transfers. Notwithstanding anything to the contrary contained in this Article 6, Tenant may assign its entire interest under
this Lease or sublease all or any portion of the Premises to: (i) a successor to Tenant by purchase, merger, consolidation
or reorganization or (ii) a transferee of substantially all of the assets of Tenant or (iii) an Affiliate of Tenant, without
the consent of Landlord (each, a “Permitted Transfer”). For purposes of this Lease, an “Affiliate”
shall mean an entity that is controlled by, controls, or is under common control with, Tenant. Tenant shall remain primarily liable
(jointly and severally with the Transferee) under the Lease following a Permitted Transfer. Sections 6.1.4 and 6.1.5 shall
not apply to a Permitted Transfer.

 

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6.2Conditions
to Effectiveness. As conditions precedent to any Transfer becoming effective and binding on Landlord:

 

(a)prior to the proposed
effective date of the Transfer, Tenant shall give to Landlord a copy of the fully executed Transfer Document, which shall (i) be
in form and substance reasonably acceptable to Landlord, and (ii) for an assignment of this Lease, contain Transferee’s express
assumption of Tenant’s obligations under this Lease and waivers by Tenant, for the benefit of Landlord, of all applicable
suretyship defenses, including those contained in Sections 2787 to 2855, inclusive, of the California Civil Code;

 

(b)as of the proposed
effective date of the Transfer, there shall exist no Event of Default and Landlord shall not have given to Tenant any Notice of
a default that Tenant has not cured; and

 

(c)between the date
on which Landlord gave to Tenant Landlord’s consent to the proposed Transfer and the proposed effective date of the Transfer,
there shall have been no material adverse change in circumstances that would have allowed Landlord to reasonably withhold Landlord’s
consent to the proposed Transfer had such change occurred prior to Landlord giving such consent.

 

6.3Miscellaneous.

 

6.3.1Notwithstanding
any Transfer, permitted or otherwise, Tenant shall at all times remain directly, primarily, and fully responsible and liable for
the payment of the Rent and for compliance with all of the other obligations to be performed by Tenant under the terms, provisions,
and covenants of this Lease. If any Transferee defaults under this Lease, then Landlord may proceed directly against Tenant without
the necessity of exhausting remedies against such Transferee.

 

6.3.2Landlord may
consent to subsequent Transfers, or amendments or modifications to this Lease with Transferees, without notifying Tenant and without
obtaining Tenant’s consent, and no such consent by Landlord shall relieve Tenant of liability under this Lease.

 

6.3.3Upon the occurrence
of an Event of Default, if all or any portion of the Premises is then subject to one or more subleases, then Landlord, in addition
to any other remedies provided in this Lease or by Law, may collect directly from the subtenants under such subleases all rents
due and becoming due to Tenant under such subleases and apply such rent against any sums due to Landlord from Tenant under this
Lease, and no such collection shall be construed to constitute a novation or release of Tenant from the further performance of
Tenant’s obligations under this Lease.

 

ARTICLE 7

INDEMNIFICATION; INSURANCE

 

7.1Indemnification.
To the extent permitted by Laws, Tenant shall protect, indemnify, and hold Landlord harmless from and against any and all Claims
incurred by reason of:

 

(a)any damage to
any property (including the property of Landlord), or any injury (including death) to any person, occurring in, on, or about any
portion of the Project, to the extent that such injury or damage shall be caused by, or arise from, any actual or alleged act,
neglect, fault, or omission by or of Tenant or any Tenant Parties to meet any standards imposed by any duty with respect to the
injury or damage;

 

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(b)any Alterations,
work, or other thing done by Tenant or any Tenant Parties in or about any portion of the Project, or from transactions of Tenant
concerning any portion of the Project;

 

(c)Landlord’s
withholding of consent to any Transfer;

 

(d)Tenant’s
failure to comply with any Restrictions;

 

(e)any breach or
default by Tenant of any representation, covenant or other term of this Lease; or

 

(f)the failure of
Tenant or any other occupant of the Premises to surrender to Landlord possession of the Premises on the Termination Date in accordance
with this Lease; provided that Tenant shall not be obligated to so indemnify Landlord to the extent any such matter arises from,
or is caused by, the willful misconduct or gross negligence of Landlord. “Claims” mean claims, demands, losses,
penalties, fines, liabilities, actions (including informal proceedings), settlements, judgments, damages, costs, and expenses (including
attorneys’ fees and consultants’ fees, court costs, and other litigation expenses) of whatever kind or nature, known
or unknown, contingent or otherwise, incurred or suffered by, or asserted against, the party in question.

 

7.2Tenant Insurance.

 

7.2.1Required
Policies. Tenant shall obtain and keep in force throughout the Term the following coverages in the following amounts:

 

(a)commercial general
liability insurance on an “occurrence” basis on the current ISO CG 00 01 occurrence form with a deductible
reasonably acceptable to Landlord, and with a combined single limit for bodily injury, death, property damage for products and
completed operations, contractual liability, personal injury and advertising injury, in an amount reasonably satisfactory to Landlord,
but in no event less than $2,000,000.00;

 

(b)comprehensive
automobile insurance on ISO form CA 00 01 covering owned, non-owned and hired vehicles with a combined single limit of
not less than $1,000,000.00;

 

(c)worker’s
compensation insurance with limits as required by Laws, and employer’s liability insurance coverage with limits of $1,000,000.00
each accident, $1,000,000.00 disease – each employee, and $1,000,000.00 – policy limit;

 

(d)“Special
Form” property insurance with no co-insurance, including vandalism and malicious mischief, boiler and machinery comprehensive
form, if applicable, and endorsements for earthquake sprinkler damage, covering damage to or loss of Tenant’s Personalty,
and all Tenant’s Alterations in an amount equal to the full replacement value thereof (without deduction for depreciation);

 

(e)business income
insurance with extra expense insurance (ISO form CP 00 30) in an amount not less than 12 months of income on an Actual
Loss Sustained basis;

 

(f)any such other
insurance as Landlord’s lender may require or Landlord may reasonably require.

 

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7.2.2Requirements
for Policies. The policies required under Section 7.2.1 shall:

 

(a)(i) with respect
to the commercial general liability policy, name Landlord; Walton WH Investors V, L.P.; Walton WH Holdings V, L.L.C.; Walton Street
Real Estate Investors V, L.P.; Walton Street Real Estate Fund V, L.P.; Walton Street Real Estate Partners V, L.P.; Walton Street
Managers V, L.P.; WSC Managers V, Inc.; Walton Street Capital, L.L.C.; Landlord’s lender; Landlord’s property manager;
and/or any other persons or entities reasonably designated by Landlord, as additional insureds using additional insurance endorsements
CG 20 10 10 01 and 20 37 07 04, and (ii) with respect to the property insurance policy, name Landlord and Landlord’s lender
as loss payee;

 

(b)be issued by
reputable, financially sound insurance companies admitted to do business in the State of California with a Best’s Rating
Guide rating of A-:VIII or better at all times during which one or more policies issued by such companies are being used to satisfy
any of the requirements of Section 7.2.1;

 

(c)provide that
such policies shall not be canceled unless 30 days’ notice shall have been given to Landlord (except that 10 days’
notice of cancellation for non-payment of premiums may be given);

 

(d)include coverage
for liability assumed under an insured contract (including the tort liability of another assumed in a business contract) with defense
provided in addition to policy limits and insure performance of Tenant’s indemnity obligations set forth in this Lease, including
the indemnity obligations set forth in Section 7.1;

 

(e)provide that
no act or omissions of Tenant shall affect or limit the obligations of the insurer with respect to other insureds, including Landlord;

 

(f)provide that
the proceeds of such insurance applicable to casualties occurring during the Term shall be used to repair or replace Tenant’s
Personalty and Tenant Alterations, and to pay the Rent; and

 

(g)with respect
to the commercial general liability policy, provide that (i) coverage shall be primary and shall not include an endorsement or
modification that makes the commercial general liability policy excess over other available insurance, (ii) Landlord, although
an additional insured, shall nevertheless be entitled to recovery under such policy for any damage to Landlord by reason of acts
or omissions of Tenant, and (iii) the coverage carried by Landlord shall be noncontributory with respect to policies carried by
Tenant.

 

7.2.3Evidence
of Insurance. Prior to taking possession of the Premises, Tenant shall give to Landlord either a copy of each insurance policy
required to be obtained and maintained by Tenant in accordance with Section 7.2.1, or certificate thereof issued by the insurance
company on ACORD Form 25 as to liability insurance, or on ACORD Form 28 as to property insurance showing such policies in force,
and a copy of the additional insured endorsements, and thereafter Tenant shall give to Landlord renewal policies or certificates
meeting the requirements of this Section 7.2 at least 30 days prior to the expiration date of each policy. Tenant shall, within
a reasonable period of time after Landlord’s request therefor, give to Landlord a certified copy of any and all insurance
policies required by this Lease.

 

7.2.4Alterations.
During the performance of any Alterations by Tenant, (a) the insurance required under this Section 7.2 shall extend to all
of Tenant’s contractors (and subcontractors of any tier) and shall include injuries to persons and damage to property arising
in connection with such Alterations and (b) Tenant shall also maintain such other insurance as Landlord may require, including
all-risk builder’s insurance. Tenant shall give to Landlord copies of the policies of, or certificates evidencing, such insurance
prior to commencing construction of such Alterations.

 

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7.3Waivers.

 

7.3.1Tenant hereby
waives all rights against Landlord for recovery of damages to the extent that those damages are covered under Tenant’s insurance
required to be maintained under Sections 7.2.1(a), (b), (c) and (f) above, or which would ordinarily have been covered by such
insurance if Tenant had maintained such insurance. Tenant shall obtain any special endorsements required by Tenant’s insurers
to effect compliance with this Section 7.3.1.

 

7.3.2Each of Landlord
and Tenant hereby waive all rights against the other for recovery of damages to the extent that such damages are covered by any
property insurance related to the Premises, the Property or the Project, or which would ordinarily have been covered by such insurance
if the waiving party had maintained the property insurance required to be maintained by it under this Lease. If any property insurance
policy implicated by this waiver does not allow the insured to waive rights of recovery against others prior to a loss, the insured
shall cause such policy to be endorsed to provide this waiver.

 

7.3.3Landlord shall
not be liable to Tenant, and Tenant hereby waives all Claims against Landlord for any damage to or loss of property in or about
any portion of the Project by or from any cause whatsoever, except to the extent caused by or arising from the gross negligence
or willful misconduct of Landlord.

 

ARTICLE 8

SERVICES AND UTILITIES

 

8.1Basic Services.

 

8.1.1Basic Services.
Landlord shall furnish to the Premises during Business Hours on Business Days the following services and utilities:

 

(a)water suitable
for normal office use;

 

(b)heat, ventilation,
and air-conditioning as required in Landlord’s reasonable judgment for the use and occupancy of the Premises;

 

(c)Intentionally
omitted;

 

(d)elevator service;
and

 

(e)electricity
for normal office use.

 

8.1.2Defined Terms.

 

(a)“Business
Hours” means 8:00 a.m. until 6:00 p.m. on weekdays and 9:00 a.m. until 1:00 p.m. on Saturdays.

 

(b)“Business
Days” means all days other than Sundays and all federal and State of California holidays.

 

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8.2Additional
Services. If Tenant requires any services or utilities in addition to those provided in accordance with Section 8.1, then Landlord
shall have the exclusive right to furnish such additional services or utilities, and Tenant shall pay to Landlord the Building
standard charge therefor. Tenant shall not contract with any utility provider to service the Premises, that is not then providing
such service to other tenants in the Building.

 

8.3Excess Use.

 

8.3.1If Tenant installs
equipment in the Premises that affects the temperature otherwise maintained by the air-conditioning system, or if Tenant allows
occupancy of the Premises by more persons than the air-conditioning system is designed to accommodate, then, in either case, Landlord
may install, operate, and maintain supplemental air-conditioning units in, or for the benefit of, the Premises, and Tenant shall
pay to Landlord the cost thereof.

 

8.3.2Tenant shall
not use any unit of equipment in the Premises that would use electric current in excess of 2000 watts and/or 20 amps
or 120 volts, or that would increase the amount of electricity or water usually furnished or supplied for use in the Premises
for normal office use. Tenant shall not connect any equipment with electric current except through electrical outlets in the Premises
existing as of the Commencement Date.

 

8.3.3Landlord may
charge Tenant for any quantity of utilities consumed by Tenant beyond amounts customarily consumed in the Premises for normal office
use and for costs of sanitary sewer or trash removal arising from Tenant’s excessive consumption of such services. The parties
acknowledge that Tenant’s anticipated electrical consumption will exceed amounts of electricity customarily consumed in the
Premises for normal office use. Without limiting the first sentence of this paragraph, Tenant and Landlord shall establish a monthly
charge for Tenant’s disproportionate electrical consumption at the Premises (the “Monthly Additional Power Charge”).
Once established, Tenant will be billed for such consumption on a monthly basis and upon establishment of the Monthly Additional
Power Charge, Tenant shall remit payment for its excess power consumption applicable to the period between the Commencement Date
and the establishment of the Monthly Additional Power Charge. The Monthly Additional Power Charge shall be adjusted periodically
to take into account changes in rates charged by the local utility company for power consumption. Additionally, either Tenant or
Landlord may on one occasion per each 12-month period during the Term request an updated estimate of Tenant’s disproportionate
electrical consumption based on a change in circumstances applicable to Tenant’s power consumption. The parties will thereafter
work together in good faith to determine if any adjustments to the Monthly Additional Power Charge are warranted. There shall be
no mark-up over rates charged by the utility provider on after-hours HVAC or with respect to excess power consumption charges.
All revenue collected for after-hours HVAC shall be used to reduce Expenses. With respect to the foregoing, Landlord and Tenant
desire to minimize costs and wasted resources. Accordingly, the parties will act together in an environmentally sensitive manner
to minimize costs and wasted resources.

 

8.4Liability
for Interruption. In the absence of Landlord’s gross negligence or willful misconduct, Landlord shall not be liable for,
and Tenant shall not be entitled to, any abatement or reduction of Rent by reason of Landlord’s failure to furnish any service
or utility; provided that Landlord shall not be liable for such failure to the extent such failure is caused by Force Majeure.
“Force Majeure” means fire, earthquake, explosion, flood, hurricane, inclement weather, acts of God or public
enemy, national or state emergency, war, invasion, insurrection, rebellion, riots, labor strikes or lockouts, inability to obtain
labor or materials or reasonable substitutes, governmental acts, restrictions (including energy usage restrictions), regulations
or controls, or by any other cause, whether similar or dissimilar, beyond the reasonable control of Landlord. Landlord shall use
commercially reasonable efforts to remedy any interruption in the furnishing of services or utilities.

 

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8.5Parking.

 

8.5.1Tenant’s
Rights. During the Term, Tenant shall have the right to purchase, on a monthly basis, up to 250 parking passes for the
Parking Facilities on the terms, and subject to the conditions, set forth in the parking agreement attached hereto as Exhibit D
between Tenant and the operator of the Parking Facilities. Tenant shall pay to Landlord the monthly parking charges for the first
full calendar month of the Term prior to or concurrently with Tenant’s execution of this Lease.

 

8.5.2Liability.
To the fullest extent permitted by Laws, Landlord shall have no liability for any loss or damage to property or other items located
in the Parking Facilities (including any loss or damage to the automobiles of Tenant or any Tenant Parties, or the contents thereof
due to theft, vandalism, or accident) or for any personal injuries or death arising out of the use of the Parking Facilities, whether
or not such loss, damage, injury, or death results from Landlord’s active negligence or negligent omission. The limitation
on Landlord’s liability under the preceding sentence shall not apply, however, to loss or damage, injury, or death arising
directly from Landlord’s willful misconduct. Landlord shall not be liable for Claims arising through acts or omissions of
any operator of the Parking Facilities. Tenant, on its own behalf and on behalf of all others claiming through Tenant, hereby voluntarily
releases, discharges, waives, and relinquishes any and all actions or causes of action for personal injury, death, or property
damage occurring to Tenant or any Tenant Parties arising as a result of parking in the Parking Facilities, or any activities incidental
thereto, wherever or however the same may occur. Tenant agrees to look first to Tenant’s insurance carrier and to require
that all Tenant Parties look first to their respective insurance carriers for payment of any losses or damages sustained, or personal
injuries or death, in connection with any use of the Parking Facilities.

 

ARTICLE 9

THIRD PARTIES

 

9.1Subordination.
This Lease shall be automatically subject and subordinate at all times to the lien of any mortgages or deeds of trust on, against,
or affecting any portion of the Project, or Landlord’s interest or estate in any portion of the Project, whether this Lease
was executed before or after said instrument, and to all renewals, modifications, consolidations, replacements, and extensions
thereof (each, a “Mortgage”); provided that if the holder or trustee of any Mortgage (each, a “Mortgagee”)
elects to have this Lease be superior to such Mortgage, then, by Notice given to Tenant, this Lease shall be deemed superior. Tenant
shall execute and deliver to Landlord, within 10 days after Landlord’s request therefor, such further commercially reasonable
instruments evidencing such subordination or superiority as may be required by Landlord.

 

9.2Attornment.
In the event of the foreclosure of, or exercise of the power of sale under, any Mortgage, or in the event of a deed given in lieu
of foreclosure, then (a) upon the request of the purchaser in such foreclosure or sale, or the grantee under such deed in
lieu (any such party, the “New Owner”), Tenant shall attorn, without any deductions or setoffs whatsoever, to
the New Owner and recognize the New Owner as the Landlord under this Lease; (b) upon the request of the New Owner, Tenant shall
enter into a new lease, containing all of the terms and provisions of this Lease, with the New Owner for the remaining Term, or
at the election of the New Owner, this Lease shall automatically become a new lease between Tenant and the New Owner upon the terms
and provisions of this Lease for the remaining Term, and Tenant shall confirm such attornment and new lease in writing within 10
days after the New Owner’s request therefor; (c) the New Owner shall not be liable for any act or omission of Landlord
under this Lease occurring prior to the New Owner stepping into the shoes of Landlord, nor for the return of the Security Deposit
(except to the extent that the Security Deposit has actually been transferred to the New Owner); and (d) the New Owner shall not
be bound by any modification of this Lease or any previous payment of more than one month of Base Rent that was not consented to
by the New Owner. Tenant waives the provisions of any Laws that may give or purport to give to Tenant any right to terminate or
otherwise adversely affect this Lease or the obligations of Tenant under this Lease in the event of any foreclosure, sale or deed
in lieu of foreclosure.

 

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9.3Mortgagee’s
Right to Cure. Notwithstanding anything to the contrary in this Lease, before exercising any right (a) of offset, counterclaim,
reduction, deduction, or abatement against Tenant’s payment of Rent under this Lease or (b) to terminate the Lease or
to claim a partial or total eviction, in each case arising from Landlord’s default under this Lease, (i) Tenant shall
provide to each Mortgagee whose name and address has been furnished in writing to Tenant with notice of the default by Landlord
giving rise to same, and (ii) after such Mortgagee receives such notice, such Mortgagee shall have a period of thirty (30)
days beyond the period of time available to Landlord under the Lease in which to cure the default. Such Mortgagee shall have no
obligation to cure (and shall have no liability or obligation for not curing) any default by Landlord. In addition, as to any default
by Landlord the cure of which requires possession and control of the Project, provided that such Mortgagee undertakes by written
notice to Tenant to exercise reasonable efforts to cure or cause to be cured by a receiver such default within the period permitted
by this Section 9.3, such Mortgagee’s cure period shall continue for such additional time as such Mortgagee may reasonably
require to either: (A) obtain possession and control of the Project with due diligence and thereafter cure the default with
reasonable diligence and continuity; or (B) obtain the appointment of a receiver and give such receiver a reasonable period
of time in which to cure the default.

 

9.4Sale of the
Project. If Landlord sells or conveys the Project, such sale or conveyance shall release Landlord from any liability from and
after such sale or conveyance upon any of the covenants or conditions, expressed or implied, contained in this Lease in favor of
Tenant, and in such event, Tenant agrees to look solely to the successor-in-interest of Landlord in and to this Lease. Except as
set forth in this Section 9.4, this Lease shall not be affected by any such sale or conveyance and Tenant agrees to attorn
to the purchaser or assignee. Landlord shall transfer or deliver the Security Deposit to Landlord’s successor-in-interest
and thereupon Landlord shall be discharged from any further liability with regard thereto.

 

9.5Estoppel
Certificates. Within 10 days after Landlord’s request, Tenant shall execute and deliver to Landlord and any of Landlord’s
then existing or prospective lenders, investors, or purchasers of any portion of the Project, a certificate substantially in the
form attached as Exhibit C, or in such other form and containing such other information as Landlord or any such lenders, investors,
or purchasers, may reasonably require. Any certificate delivered in accordance with this Section 9.5 may be relied upon by
any such lender, investor, or purchaser.

 

9.6Liens.
Tenant shall immediately discharge (either by payment or by filing of the necessary bond or otherwise) any mechanic’s, materialman’s
or other lien or encumbrance against any portion of the Project that arises out of any payment due for, or purported to be due
for, any labor, services, materials, supplies or equipment alleged to have been furnished to or for Tenant. If Tenant shall fail
to so discharge such lien or encumbrance then, in addition to any other right or remedy of Landlord, Landlord may discharge the
same (either by payment or by filing of the necessary bond or otherwise), and any payment, costs and expenses incurred by Landlord
in connection therewith, including reasonable attorneys’ fees, shall be repaid together with interest thereon at the rate
set forth in Section 2.3 from the date of payment.

 

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ARTICLE 10

EVENTS OF DEFAULT & REMEDIES

 

10.1Events of
Default.

 

10.1.1Events of
Default. “Event of Default” means any of the following:

 

(a)Tenant fails
to pay when due any Rent, and such failure continues for 5 days after Landlord gives to Tenant Notice thereof (but if Landlord
gives to Tenant any such Notice twice in the 12-calendar-month period commencing with the calendar month in which the date of such
first Notice occurs, then Tenant’s failure thereafter to pay when due any Rent during such period shall be an Event of Default
without Notice);

 

(b)except as otherwise
provided in this Lease, Tenant fails to comply with any term, provision, or covenant of this Lease and such failure continues for
30 days after Landlord gives to Tenant Notice thereof (but if such failure is curable but cannot reasonably be cured during such
30-day period, and if Tenant has commenced such cure promptly and in any case within such 30-day period and thereafter has diligently
pursued such cure to completion, then such 30-day period shall be extended to 90 days);

 

(c)Tenant fails
to obtain and keep in force at all times any insurance required under this Lease, and such failure continues for 5 days after Landlord
gives to Tenant Notice thereof;

 

(d)Tenant fails
to deliver to Landlord timely any instrument or assurance required under this Lease;

 

(e)breach of any
of the representations or warranties of Tenant set forth in this Lease; or

 

(f)Tenant’s
failure to restore the Security Deposit within the 5-day period set forth in Section 2.4 above.

 

10.1.2Waivers.
Tenant waives the notice requirements of California Code of Civil Procedure Section 1162 that would otherwise govern notices
required under Section 1161, and agrees that any Notice that Landlord gives to Tenant in accordance with this Lease shall
replace and satisfy any such requirements of Section 1162 and any similar or successor Law, as the same may be amended.

 

10.2Remedies.

 

10.2.1Upon Event
of Default. Upon the occurrence of any Event of Default, Landlord shall have the option to pursue any one or more of the following
remedies without any Notice or demand whatsoever, concurrently or consecutively and not alternatively (in addition to any other
remedies available to Landlord at law or in equity), all of which remedies shall be distinct, separate and cumulative:

 

(a)Termination.
Landlord may terminate this Lease, in which event Tenant shall vacate the Premises immediately and deliver possession of the Premises
to Landlord, and if Tenant fails to do so, then Landlord may, after due process of law, enter upon and take possession of the Premises,
and expel or remove Tenant and any other person who may be occupying the Premises or any portion thereof, without being liable
for prosecution or any claim or damages therefor, and Landlord may recover from Tenant all of the following:

 

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(i)the worth at the
time of award of the unpaid Rent that has been earned at the time of termination; plus

 

(ii)the worth at
the time of award of the amount by which the unpaid Rent that would have been earned after the termination until the time of the
award exceeds the amount of lost Rent that Tenant proves could have been reasonably avoided; plus

 

(iii)the worth at
the time of award by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such lost
Rent Tenant provides could be reasonably avoided; plus

 

(iv)such other amounts
in addition to or in lieu of the foregoing as may be permitted from time to time by Laws; plus

 

(v)any other amount
necessary to compensate Landlord for all of the detriment proximately caused by Tenant’s failure to perform Tenant’s
obligations under this Lease, or that in the ordinary course would be likely to result therefrom.

 

“Worth at the time of award”
of the amounts set forth in Sections 10.2.1(a)(i) and (ii) shall be computed by allowing interest at a rate per annum equal
to the lesser of (1) the annual “Bank Prime Loan” rate cited in the Federal Reserve Statistical Release Publication H.15(519),
published weekly plus 200 basis points, or (2) the highest rate permitted by Law. “Worth at the time of award”
of the amount set forth in Section 10.2.1(a)(iii) shall be computed by discounting such amount at the discount rate of the
Federal Reserve Bank of San Francisco, California at the time of award plus 100 basis points.

 

(b)Subleases
of Tenant. Whether or not Landlord elects to terminate this Lease, Landlord may terminate any and all subleases or other consensual
arrangements for possession or occupancy of the Premises entered into by Tenant or any subtenant of Tenant, or may succeed to Tenant’s
or Tenant’s subtenant’s interest in such subleases or other arrangements. If Landlord elects to succeed to Tenant’s
or Tenant’s subtenant’s interest in any such subleases or other arrangements, then as of the date of Notice by Landlord
of such election (i) Tenant shall have no further right to, or interest in, the rent or other consideration receivable thereunder,
and (ii) any sublessee or other occupant of the Premises shall attorn to and recognize Landlord as its landlord.

 

10.2.2Form of
Payment Following Event of Default. Following the occurrence of an Event of Default, Landlord shall have the right to require
that any or all subsequent amounts paid by Tenant to Landlord under this Lease, whether relating to the Event of Default in question
or otherwise, be paid in the form of money orders, cashier’s checks, or certified checks drawn on institutions acceptable
to Landlord, or by other means approved by Landlord, notwithstanding any prior acceptance by Landlord of payments from Tenant in
any different form.

 

10.2.3Landlord’s
Cure Rights. If Tenant defaults under this Lease, then Landlord may, without being under any obligation to do so, and without
thereby waiving such default, remedy such default for the account of Tenant. Tenant shall reimburse Landlord for all costs, expenses,
and disbursements that Landlord incurs in so remedying such default, plus interest from the date of expenditure by Landlord at
the rate set forth in Section 2.3.

 

10.2.4Mitigation
of Damages. Except as required by Laws, Landlord shall have no obligation to mitigate its damages. If Landlord is required
by Laws to mitigate its damages under this Lease, then (a) Landlord shall be required only to use reasonable efforts to so
mitigate, which shall not exceed such efforts as Landlord generally uses to lease other space in the Building; (b) Landlord shall
not be deemed to have failed to so mitigate if Landlord leases any other portions of the Building before reletting the Premises;
and (c) Landlord’s failure to so mitigate shall only reduce the Rent to which Landlord is entitled. Tenant acknowledges that
Landlord’s rejection of a prospective replacement tenant based on an offer of rentals below Landlord’s published rates
for new leases of comparable space at the Building at the time in question, or containing terms less favorable than those contained
herein, shall not give rise to a claim by Tenant that Landlord failed to so mitigate.

 

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10.2.5Waiver of
Right of Redemption. Tenant (for itself and all others claiming through Tenant) irrevocably waives and releases any rights
under any Laws now or hereafter existing (including Sections 473, 1174(e), and 1179 of the California Code of Civil Procedure and
Section 3275 of the California Civil Code) to redeem or reinstate this Lease or Tenant’s right of occupancy of the Premises
after termination of this Lease under any Laws.

 

ARTICLE 11

CASUALTY & CONDEMNATION

 

11.1Casualty.

 

11.1.1Obligations
to Rebuild. If the Premises and/or any other portion of the Project is damaged or destroyed, then (a) this Lease shall
continue in full force and effect, (b) unless Landlord elects to terminate this Lease in accordance with Section 11.1.2 Landlord
shall promptly and diligently repair or restore the Premises (but only to the extent of the shell of the Premises and any Landlord
Alterations) and (c) Tenant, at its sole cost and expense, shall replace or fully repair all Tenant’s Personalty and
all Tenant Alterations.

 

11.1.2Right to
Terminate. Landlord may terminate this Lease if any portion of the Project is destroyed or damaged, regardless of whether the
casualty is insured, if Landlord reasonably determines that (a) there are insufficient insurance proceeds available to Landlord
to pay all of the costs of the repair or restoration of the Project, (b) the repair or restoration of the Project cannot be completed
within 180 days after the date of the casualty, (c) Landlord is not permitted by any Restriction to rebuild the Project
in substantially the same form as existed prior to the damage or destruction, or (d) the damage is substantial or the Premises
or any other portion of the Project is destroyed and there are fewer than 12 full calendar months remaining in the Term. If Landlord
desires to so terminate this Lease, then Landlord shall give to Tenant Notice of such termination within 45 days after the
date of the casualty, in which event the Termination Date shall be the date that is 15 days after the date of the Notice.

 

11.1.3Abatement
of Rent. In the event of any damage or destruction to the Premises, the Base Rent shall be temporarily abated proportionately
to the degree the Premises is rendered untenantable for the operation of Tenant’s business as a result of the damage or destruction,
but only to the extent of any proceeds received therefor by Landlord from rental abatement insurance. Such abatement shall commence
on the date of the damage or destruction and shall end on the date on which Landlord substantially completes the repair or restoration
of the Premises to the extent required by Section 11.1.3. Except for such Base Rent abatement, Tenant shall not be entitled to
any compensation or damages from Landlord for loss of the use of the Premises, damage to Tenant’s Personalty or to the Tenant
Alterations, or any inconvenience occasioned by any damage, repair, or restoration.

 

11.1.4Insurance
Proceeds. If Landlord terminates this Lease, then Landlord shall be entitled to any and all of the insurance proceeds payable
for the damage to Landlord’s property. Tenant shall promptly deliver to Landlord, and Tenant hereby assigns to Landlord,
all insurance proceeds payable to Tenant under its insurance in respect of any Tenant Alterations.

 

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11.1.5Waiver.
Tenant (for itself and all others claiming through Tenant) irrevocably waives and releases its rights to make repairs at Landlord’s
expense under Sections 1932(2), 1933(4), 1941, 1941.1, and 1942 of the California Civil Code and any similar or successor
Laws, as the same may be amended. With respect to any damage or destruction that Landlord is obligated to repair or elects to repair
under this Section 11.1, Tenant also waives all of its rights to terminate this Lease pursuant to rights presently or hereafter
accorded by Law to tenants, including the provisions of Sections 1932(2) and 1933(4) of the California Civil Code. The provisions
of this Lease, including this Section 11.1, constitute an express agreement between Landlord and Tenant with respect to any damage
to, or destruction of, any portion of the Project. Any Law, including Sections 1932(2) and 1933(4) of the California Civil
Code, in respect of any rights or obligations concerning any such damage or destruction in the absence of an express agreement
between the parties, and any other Law relating to damage or destruction of leased premises, whether in effect on the date of this
Lease or thereafter, shall have no application to this Lease or any damage or destruction of any part of the Premises or any other
portion of the Project.

 

11.2Condemnation.
If all or any substantial part of the Premises shall be taken by any public or quasi-public authority under the power of eminent
domain, or conveyance in lieu thereof, then either party to this Lease shall have the right to give the other a Notice terminating
this Lease at any time within 30 days after such taking. If neither party to this Lease shall so elect to terminate this Lease,
then the Rent thereafter to be paid shall be adjusted on a fair and equitable basis under the circumstances. If any substantial
part of the Project shall be taken by any public or quasi-public authority under the power of eminent domain or conveyance in lieu
thereof, regardless of whether the Premises or any part of the Premises are so taken, then Landlord shall have the right to terminate
this Lease. Landlord shall be entitled to any and all income, Rent, award, and any interest whatsoever upon any such sum, which
may be paid or made in connection with any such public or quasi-public taking or conveyance in lieu thereof, and Tenant hereby
assigns to Landlord any interest Tenant may have in, or claim to, all or any part of such sums, other than any separate award that
may be made with respect to Tenant’s trade fixtures and moving expenses. Tenant shall make no claim for the value of any
unexpired portion of the Term. Tenant (for itself and all others claiming through Tenant) hereby irrevocably waives and releases
its rights under Section 1265.130 of the California Code of Civil Procedure and any similar or successor Law, as the same
may be amended.

 

ARTICLE 12

MISCELLANEOUS

 

12.1Notices.
Any notice, consent, demand, or other communication or document required or permitted to be given under this Lease or pursuant
to any Laws (“Notice(s)”), shall be (a) in writing (except as otherwise provided in this Lease), (b) addressed
to the intended recipient at its address set forth on the signature pages of this Lease (provided that each of Landlord and Tenant
may change its addresses for the giving of notices by giving notice thereof to the other party), (c) sent by fully prepaid registered
or certified United States Mail return receipt requested, or by reputable independent contract delivery service furnishing a written
record of attempted or actual delivery, and (d) deemed to have been delivered when tendered for delivery to the addressee, whether
or not actually accepted or received by the addressee. The provisions of Section 1013(a) of the California Code of Civil Procedure,
extending the time within which a right may be exercised or an act may be done, shall not apply to a Notice. Any Notice may be
given by an attorney on behalf of Landlord or by Landlord’s property management company.

 

12.2OFAC/FCPA.
Neither Tenant nor any of its affiliates, nor to its knowledge any of their respective brokers or other agents acting in any capacity
in connection with the transactions contemplated by this Lease is or will be (a) conducting any business or engaging in any transaction
or dealing with any person appearing on the U.S. Treasury Department’s OFAC list of prohibited countries, territories, “specifically
designated nationals” (“SDNs”) or “blocked person” (each a “Prohibited Person”)
(which lists can be accessed at the following web address: http://www.ustreas.gov/offices/enforcement/ofac/), including the making
or receiving of any contribution of funds, goods or services to or for the benefit of any such Prohibited Person; (b) engaging
in certain dealings with countries and organizations designated under Section 311 of the USA PATRIOT Act as warranting special
measures due to money laundering concerns; (c) dealing in, or otherwise engaging in any transaction relating to, any property
or interests in property blocked pursuant to Executive Order No. 13224 dated September 24, 2001, relating to “Blocking Property
and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism”; (d) a foreign shell bank
or any person that a financial institution would be prohibited from transacting with under the USA PATRIOT Act; or (e) engaging
in or conspiring to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempting to
violate, any of the prohibitions set forth in (i) any U.S. anti-money laundering law, (ii) the Foreign Corrupt Practices Act, (iii)
the U.S. mail and wire fraud statutes, (iv) the Travel Act, (v) any similar or successor statutes or (vi) any regulations promulgated
under the foregoing statutes. If at any time this representation becomes false, then it shall be considered an event of default
under this Lease as to which there shall be no right to Notice or any opportunity to cure, notwithstanding anything contained in
this Lease to the contrary, and Landlord shall have the right to immediately exercise all of the remedies set forth in this Lease,
including immediate termination of this Lease.

 

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12.3Financial
Statements. At Landlord’s request, Tenant shall give to Landlord a copy of Tenant’s most recent financial statements,
either audited or unaudited, but if unaudited, certified by Tenant’s chief financial officer as being true, complete, and
correct in all material respects; provided, however, that if and so long as Tenant is a public company, Tenant may satisfy its
obligation to provide financial statements to Landlord by providing Landlord Tenant’s most recent annual and quarterly reports
filed with the Securities and Exchange Commission.

 

12.4Brokers.
Each of Landlord and Tenant represents and warrants to the other that such party has not dealt with any broker or finder in connection
with this Lease.

 

12.5Limitation
of Landlord’s Liability. Landlord’s liability under this Lease shall be limited to and enforceable only against
and to the extent of Landlord’s interest in the Project. Landlord’s obligations under this Lease shall not be personally
binding on Landlord’s present or future investment manager, property manager, or any of the trustees, directors, officers,
partners, beneficiaries, principals, members, managers, investors, stockholders, employees, affiliates, agents, representatives,
successors or assigns of Landlord, Landlord’s investment manager, or Landlord’s property manager. Landlord shall not
be liable to Tenant under this Lease for any lost profits or damage to business. The limitation of liability provided in this Section
12.5 is in addition to, and not in limitation of, any limitation or liability applicable to Landlord provided by Law or by any
other contract, agreement, or instrument.

 

12.6No Waivers.
No provision of this Lease shall be deemed waived by either party unless expressly waived in a writing signed by the waiving party
(and then only to the extent so expressly waived). No waiver shall be implied by delay or any other act or omission of either party.
No waiver by either party of any provision of this Lease shall be deemed a waiver of such provision with respect to any subsequent
matter relating to such provision, and Landlord’s consent or approval respecting any action by Tenant shall not constitute
a waiver of the requirement for obtaining Landlord’s consent or approval respecting any subsequent action. No act or thing
done by Landlord or its agents during the Term shall be deemed a termination of this Lease, an acceleration of the Termination
Date, or an acceptance of the surrender of the Premises, and no agreement to terminate this Lease, accelerate the Termination Date,
or accept a surrender of the Premises shall be valid, unless expressly provided in a writing signed by Landlord. Acceptance of
the full or any partial payment of Rent shall not be deemed Landlord’s waiver of any breach by Tenant of any provision of
this Lease and Landlord’s acceptance of a lesser amount than the Rent due under this Lease shall not be deemed Landlord’s
waiver of Landlord’s right to receive the full amount of Rent due, nor shall any endorsement or statement on any check or
payment or any letter accompanying such check or payment be deemed an accord and satisfaction, and Landlord may accept such partial
payment without prejudice to Landlord’s right to recover the full amount of Rent due. Tenant acknowledges that this Section 12.6
imparts actual notice to Tenant, pursuant to California Code of Civil Procedure Section 1161.1(c), that Landlord’s acceptance
of partial payment of Rent does not constitute a waiver of any of Landlord’s rights, including any right Landlord may have
to recover possession of the Premises. Forbearance by Landlord in enforcing one or more of the remedies provided in this Lease
upon an Event of Default shall not be deemed a waiver of such Event of Default or of Landlord’s right to enforce any such
remedies with respect to such Event of Default or any subsequent Event of Default. Landlord’s acceptance of any Rent or of
the performance of any other provision of this Lease from any person other than Tenant, including any Transferee, shall not be
deemed a waiver of Landlord’s right to approve any Transfer in accordance with Article 6.

 

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12.7Entry into
Premises. Landlord reserves and shall at all times have the right to enter the Premises to inspect the same, to supply any
service to be provided by Landlord under this Lease, to remedy any Tenant default, to show the Premises to prospective purchasers,
investors, Mortgagees, and tenants, and to alter, improve, and repair the Premises or any other portion of the Project, in any
case without abatement of Rent, and may for such purposes erect, use, and maintain scaffolding, pipes, conduits, and other necessary
structures and open any wall, ceiling, or floor in or through the Building or Premises where reasonably required by the character
of the work to be performed; provided that Tenant’s entrance to the Premises shall not be blocked and the conduct of Tenant’s
business at the Premises shall not be interfered with unreasonably. If Landlord damages any portion of any wall or wall-covering,
ceiling, or floor or floor-covering within the Premises, then Landlord shall repair or replace the damaged portion to match the
original as nearly as commercially reasonable, but shall not be required to repair or replace more than the portion actually damaged.
Except as otherwise expressly provided in this Section 12.7, Tenant hereby waives any claim for damages for any injury or
inconvenience to or interference with Tenant’s business, any loss of occupancy or quiet enjoyment of the Premises, and any
other loss occasioned by any action of Landlord authorized by this Section 12.7.

 

12.8Other Provisions.

 

12.8.1Covenant
of Quiet Enjoyment. Landlord covenants that Tenant, while paying the Rent and performing Tenant’s other covenants and
agreements under this Lease, shall peaceably and quietly have, hold, and enjoy the Premises for the Term without hindrance from
Landlord, but not otherwise, subject to all matters of record and to the terms and provisions of this Lease.

 

12.8.2Survival.
All obligations of Tenant under this Lease not fully performed as of the Termination Date shall survive the Termination Date.

 

12.8.3Entire Agreement.
This Lease, together with the Addendum and the Exhibits, contains all of the agreements of Landlord and Tenant in respect of this
Lease and supersedes any previous negotiations. There have been no representations made by Landlord or any of Landlord’s
representatives, or understandings made between Landlord and Tenant, other than those set forth in this Lease, the Addendum and
the Exhibits. This Lease may not be modified except by a written instrument duly executed by the party to be bound.

 

12.8.4Execution
in Counterparts. This Lease may be executed in counterparts, each of which shall be deemed an original and all of which together
shall constitute one and the same instrument.

 

12.8.5Recording.
Tenant shall not record this Lease or a short form memorandum of this Lease.

 

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12.8.6No Light,
Air, or View Easement. Any diminution or shutting off of light, air or view by any structure that may be erected on lands adjacent
to or in the vicinity of the Project or any portion thereof shall not affect this Lease, entitle Tenant to any reduction in Rent,
or impose any liability on Landlord.

 

12.8.7Non-Discrimination.
Tenant shall not (and Tenant shall not permit any person claiming through or under Tenant to) discriminate against or segregate
any person or group of persons on account of race, color, creed, sex, religion, marital status, ancestry, or national origin, whether
in the use, occupancy, subleasing, transferring, or enjoyment of the Premises, or otherwise.

 

12.8.8Attorneys’
Fees. In any action or proceeding that Landlord or Tenant initiates against the other party declaratory or otherwise, arising
out of this Lease, the unsuccessful party in such action or proceeding shall reimburse the prevailing party for its costs, including
reasonable attorneys’ fees.

 

12.8.9Waiver of
Consequential Damages. Neither Landlord nor Tenant shall be liable to the other for any form of special, indirect, consequential,
or punitive damages.

 

12.8.10Security.
With respect to Tenant’s property and interests, Tenant assumes the risk that any safety or security device, service, or
program provided by Landlord may not be effective, or may malfunction, or may be circumvented by a criminal.

 

12.8.11Antenna;
Satellite Dishes. Subject to Landlord’s approval of the plans and specifications related thereto, which shall not be
unreasonably withheld, conditioned, or delayed, during the Term Landlord shall permit Tenant to install and maintain at Tenant’s
sole expense telecommunications antennas, microwave dishes and other communications equipment (“Antenna”) on
the roof of the Building in a location designated by Landlord and subject to strict compliance with all applicable Restrictions.
The size of the space and the size and visibility of the Antenna shall be mutually acceptable to Landlord and Tenant. Landlord
makes no warranties or representations to Tenant as to the permissibility of an Antenna on the Building under applicable Restrictions.
Tenant shall be required to obtain all governmental permits, consents or authorizations necessary for the erection and operation
of the Antenna and the Antenna shall not interfere with the Building systems or equipment or with equipment previously installed
by any other occupant of the Building. If installation of the Antenna requires any roof penetrations, Tenant shall use a contractor
approved by Landlord and shall cause such work to be done in a manner that will preserve any roof warranty held by Landlord. Upon
the termination of this Lease, Tenant shall reimburse Landlord for the cost to remove the Antenna and restore the roof to its prior
condition. Tenant’s right to use the roof shall be non-exclusive.

 

12.9Interpretation.

 

12.9.1Captions.
The captions in this Lease are for convenience of reference and shall not define, increase, limit, or describe the scope or intent
of any provision of this Lease.

 

12.9.2Landlord
and Tenant. The terms “Tenant” and “Landlord”, and any pronoun used in place thereof, shall indicate
and include each of the parties’ and respective successors, executors, administrators, and permitted assigns, according to
the context, provided that, for the purposes of any provisions indemnifying or waiving claims against, Landlord, the term “Landlord”
shall also include Landlord’s present and future investment manager, and property management company, and all of their trustees,
directors, officers, partners, beneficiaries, principals, members, managers, investors, stockholders, employees, affiliates, agents,
representatives, contractors (and subcontractors of any tier), successors and assigns.

 

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12.9.3Non-Exclusivity.
Whenever the words “including”, “include”, or “includes” are used in this Lease, they shall
be interpreted in a non-exclusive manner as though the words “without limitation” immediately followed the same. Any
reference to “any part” or “any portion of” the Premises, the Building or the Project or any other property
shall be construed to refer to all or any part of the same.

 

12.9.4Covenants
Independent. This Lease shall be construed as though the covenants herein between Landlord and Tenant are independent.

 

12.9.5Joint and
Several Liability. In any case where either Landlord or Tenant consists of more than one person, the obligations of such party
under this Lease shall be joint and several.

 

12.9.6Time of
the Essence. Time is of the essence of this Lease and all of its provisions.

 

12.9.7Governing
Law. This Lease shall in all respects be governed by the laws of the State of California.

 

12.9.8Successors
and Assigns. Subject to the provisions of Article 6, the provisions of this Lease shall be binding upon and inure to the benefit
of the heirs, successors, executors, administrators, and assigns of Landlord and Tenant.

 

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[Signature Page to Lease Agreement
between Walton Empire Center V, L.L.C., as Landlord, and Point.360, as Tenant]

  

 

	LANDLORD:	 
	 	 
	WALTON EMPIRE CENTER V, L.L.C.,	 
	a Delaware limited liability company	 
	 	 	 
	By:	Walton WH Investors V, L.P.,	 
	 	a Delaware limited partnership,	 
	 	its Sole Member	 

 

	 	By:	Walton WH Holdings V, L.L.C.,	 
	 	 	a Delaware limited liability company,	 
	 	 	its General Partner	 

 

	 	 	By:	Walton Street Real Estate Fund V, L.P.,	 
	 	 	 	a Delaware limited partnership,	 
	 	 	 	its Managing Member	 

 

	 	 	 	By:	Walton Street Managers V, L.P.,	 
	 	 	 	 	a Delaware limited partnership,	 
	 	 	 	 	its General Partner	 

 

	 	 	 	 	By:	WSC Managers V, Inc.,	 
	 	 	 	 	 	a Delaware corporation,	 
	 	 	 	 	 	its General Partner	 

 

	 	 	 	 	 	By:	  	 
	 	 	 	 	 	Name:	  	 
	 	 	 	 	 	Its:	  	 

 

	Landlord’s Notice Address:	Landlord’s Payment Address:
	 	 
	Walton Empire Center V, L.L.C.	If by check:
	c/o Walton Street Capital, L.L.C.	 
	900 North Michigan Avenue, Suite 1900	Walton Empire Center V, L.L.C.
	Chicago, Illinois 60611	c/o Tiarna Real Estate Services, Inc.
	Attention:	Mr. James Holmes	2603 Main Street, Suite 210
	 	Angela Lang, Esq.	Irvine, California 92614
	 	 	 	 
	 	 	If by wire transfer:
	 	 	 	 
	 	 	Bank:	Bank of the West
	 	 	 	300 South Grand Ave., 13th Floor
	 	 	 	Los Angeles, CA 90071
	 	 	ABA:	121100782
	 	 	Swift Number:	BWSTUS66
	 	 	Acct. Name:	Walton Empire Center V, L.L.C.
	 	 	
        Acct. No.:

        
	023-690503
	 	 	 	 
	 	 	 	 

 

    	 	29	Empire Center
Point.360

     

    

 

 

[Continuation of Signature Page to
Lease Agreement between Walton Empire Center V, L.L.C., as Landlord, and Point.360, as Tenant]

   

	TENANT:	 
	 	 	 	 
	 	Point.360,	 
	 	a California Corporation	 
	 	 	 	 
	 	By:	  	 
	 	Name:	  	 
	 	Title:	  	 
	 	 	 	 
	 	By:	  	 
	 	Name:	  	 
	 	Title:	  	 

 

 

Tenant’s Notice Address:

 

Point.360

2701 Media Center Drive,

Los Angeles, CA 90065

Attn: Executive Vice President, Finance and Administration and Chief Financial Officer

 

 

    	 	30	Empire Center
Point.360

     

    

 

ADDENDUM

 

This Addendum is annexed
to and made a part of that certain Lease Agreement, effective as of July 1, 2015, by and between Walton Empire Center V,
L.L.C., a Delaware limited liability company (“Landlord”), and Point.360, a California corporation (“Tenant”).

 

1.Temporary Expansion Space.
Approximately 7,489 rentable square feet on the first floor of the Building that is not part of the Premises, consists of 4 suites
known as Suite 101 (collectively, the “Temporary Suites”), all of which are vacant as of the full execution
of the Lease. Subject to the provisions of this Section 1, and provided that an Event of Default is not in existence, then
to the extent that during the Term any of the Temporary Suites are vacant and “available for lease” (“Temporary
Expansion Space”), Tenant shall have a right to expand the Premises on a suite-by-suite basis to include the Temporary
Expansion Space upon Notice to Landlord, which notice shall identify the Temporary Suite(s) Tenant desires to lease (“Temporary
Space Expansion Notice”). The Temporary Expansion Space shall be leased to Tenant on a month-to-month basis in
its then current “As Is” condition on economic terms consistent with the terms and conditions applicable to the initial
Premises (after factoring in Tenant’s Share with respect to the common area portion of the Project where the applicable Temporary
Expansion Space is located), including monthly Base Rent charged per rentable square foot escalated at a rate of 3% per annum and
Additional Rent pursuant to Article 2 of the Lease. The parties acknowledge that the rentable square footage of the Temporary
Expansion Space was determined by Ware Malcomb. If Tenant gives Landlord a Temporary Space Expansion Notice, Landlord and Tenant
shall then promptly amend the Lease to add the Temporary Expansion Space specified in the Temporary Space Expansion Notice to the
Premises on the terms and conditions described above and to adjust Tenant’s Share. The expansion right described in this
Section 1 is personal to Original Tenant, may not be assigned, transferred or conveyed to any party, and may be exercised only
if Original Tenant is in possession of, and occupies, at least 37,930 rentable square feet on the first floor of the Building without
sublease or assignment to any other person or entity. Original Tenant’s right to lease the Temporary Expansion Space shall
be subordinate to the rights granted to other tenants prior to the full execution of the Lease. For purposes of this Section 1
and Section 2 of this Addendum, Temporary Expansion Space shall be “available for lease” only if it is not leased,
subject to a lease or other occupancy agreement, as such lease or occupancy agreement may be renewed or extended from time to time,
whether or not pursuant to the exercise of renewal or extension provisions contained therein, or the subject of a lease negotiation
with a prospective tenant.

 

2.Expansion Option. Subject
to the provisions of this Section 2, and provided an Event of Default is not in existence, Tenant shall have an option to expand
the Premises to include Available Expansion Space (the “Expansion Option”). If Tenant desires to so expand the
Premises, Tenant shall give Landlord a Notice (the “Expansion Notice”), which Expansion Notice shall set forth
the number of usable square feet Tenant desires to add to the Premises. Within 30 days after Landlord’s receipt of the Expansion
Notice, Landlord shall determine if there is Available Space for lease located on (i) the first floor of the Building (including
any Tenant occupied Temporary Expansion Space), (ii) multi-tenant floors of the Building, or (iii) the second floor of
the Building ((i), (ii) and (iii) are collectively referred to as the “Available Expansion Space”) and
deliver Notice (“Available Expansion Space Notice”) to Tenant describing the Available Expansion Space,
if any. Tenant acknowledges and agrees that (i) in connection with Landlord’s determination of Available Expansion Space,
priority will be given to, and Tenant shall be required to lease the Available Expansion Space, if at all, in the following sequence:
(a) Available Expansion Space located on the first floor of the Building (including any Tenant-occupied Temporary Expansion
Space), (b) Available Expansion Space located on multi-tenant floors of the Building, and (c) Available Expansion Space
located on the second floor of the Building, (ii) Tenant will be required to convert any Temporary Expansion Space it is then
leasing to Available Expansion Space before leasing any other Available Expansion Space, and (iii) Landlord shall have the right,
in its sole discretion, to remove the space on the second floor of the Building from the Available Expansion Space. If Tenant wishes
to exercise its Expansion Option with respect to the Available Expansion Space described in the Available Expansion Space Notice,
then within 10 business days after Landlord’s delivery of the Available Expansion Space Notice to Tenant, Tenant shall deliver
Notice (the “Exercise Notice”) to Landlord of Tenant’s exercise of Expansion Option. Available Expansion
Space shall be leased to Tenant in its then-current “As-Is” condition and upon economic terms and conditions
that are consistent with the economic terms and conditions applicable to the initial Premises, including monthly Base Rent charged
per rentable square foot escalated at a rate of 3% per annum, and Additional Rent pursuant to Article 2 of the Lease. If Tenant
does not give the Exercise Notice to Landlord within 10 business days after Landlord’s delivery of the Available Expansion
Space Notice to Tenant, then Landlord shall be free to negotiate and enter into a lease for the Available Expansion Space or applicable
portion thereof to anyone to whom Landlord desires and Tenant shall have no further right hereunder with respect to the subject
Available Expansion Space. If Tenant gives Landlord an Exercise Notice, Landlord and Tenant shall then promptly amend the Lease
to add such Available Expansion Space to the Premises on the terms and conditions described above and to adjust Tenant’s
Share. The Expansion Option hereunder is personal to Original Tenant, and may not be Transferred and may be exercised only if Original
Tenant is in possession of, and occupies, at least 37,930 rentable square feet on the first floor of the Building without sublease
or assignment to any other person or entity. The Expansion Option shall be subordinate to the rights granted to other tenants prior
to the full execution of the Lease.

 

    	 	Addendum

	Empire Center
Point.360

     

    

 

3.License Space. For the period
commencing on July 1, 2015 and ending on September 30, 2015 (the “Second Floor Space Initial License Term”),
Tenant shall have a limited license to use and occupy Suite 200 located on the second floor of the Building (the “Second
Floor Space”) for the purpose of transitioning its operations from the Second Floor Space to the Premises. So long as
Tenant’s continued limited occupancy on the Second Floor Space does not negatively impair Landlord’s desired activities
at the Building (as determined by Landlord in its sole discretion) upon Notice from Tenant, the Second Floor Space Initial License
Term shall be extended for up to an additional three (3) months, through December 31, 2015 (the “Second Floor Space
Extended License Term”). The Second Floor Space Initial License Term and Second Floor Space Extended License Term are
hereinafter collectively referred to as the “Second Floor Space License Term”. Landlord shall have the right
to terminate Tenant’s license to use the Second Floor at any time during the Second Floor Space Extended License Term upon
15 days’ prior Notice to Tenant. During the Second Floor Space License Term Tenant shall comply with all of the terms and
provisions of the Lease except for those provisions requiring the payment of Base Rent and Additional Rent. In consideration of
the limited license to use the Second Floor Space, Tenant shall be charged an amount equal to Landlord’s estimate of actual
variable costs incurred by Landlord in connection with Tenant’s occupancy and use of the Second Floor Space, as determined
by Landlord in its reasonable discretion and after consultation with Tenant. Tenant shall remit payment for such variable costs
to Landlord within 30 days after Landlord’s delivery of an invoice to Tenant. In addition to the foregoing charge, on or
before the first day of each full calendar month during the Second Floor Space License Term, Tenant shall pay to Landlord a monthly
license fee of $5,000 per month for Tenant’s use of the Second Floor Space. The license set forth in this Section 3
is personal to the Original Tenant and shall not be Transferred. If Original Tenant shall Transfer its interest in the Lease, then
notwithstanding anything contained in this Section 3 to the contrary, simultaneously with such Transfer Tenant’s right
to use and occupy the Second Floor Space shall terminate and be of no further force or effect and Tenant shall immediately surrender
the Second Floor Space in the condition required hereby. Use of the Second Floor Space by Tenant shall be on an “As-Is”
basis, and Landlord shall have no obligation to repair or to make any improvements or alterations to the Second Floor Space or
to provide any construction or refurbishing allowance whatsoever. Notwithstanding anything contained in this Lease to the contrary,
Tenant shall not perform any Alterations to the Second Floor Space. Tenant shall vacate and surrender the Second Floor Space to
Landlord on or prior to the end of the Second Floor Space License Term in a similar condition to that upon delivery and broom clean.
Tenant acknowledges that Tenant’s failure to vacate and surrender the Second Floor Space may compromise or otherwise affect
Landlord’s ability to enter into new leases with prospective tenants regarding the Second Floor Space. Therefore, if Tenant
fails to vacate and deliver the Second Floor Space upon the termination or expiration of this Second Floor Space Term, in addition
to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from
and against all claims made by any succeeding tenant founded upon such failure to vacate and deliver, and any losses suffered by
Landlord, including lost profits, resulting from such failure to vacate and deliver. Tenant agrees that any proceedings necessary
to recover possession of the Second Floor Space, whether before or after expiration of the Term of the Lease, shall be considered
an action to enforce the terms of this Lease for purposes of the awarding of any attorney’s fees in connection therewith.

 

    	 	Addendum

	Empire Center
Point.360

     

    

 

EXHIBIT A

FLOOR PLAN DEPICTING THE PREMISES

 

 

 

    	 	A-1	Empire Center
Point.360

     

    

 

EXHIBIT B

SITE PLAN

 

 

 

    	 	B-1	Empire Center
Point.360

     

    

 

EXHIBIT C

FORM OF TENANT ESTOPPEL CERTIFICATE

 

The undersigned as
Tenant under that certain Office Lease (the “Lease”) made and entered into as of _________, ____ with Walton
Empire Center V, L.L.C., a Delaware limited liability company, as Landlord, for Premises described as Suite ____ in the
office building commonly known as Empire Center and located at 2300 Empire Avenue, Burbank, California 91504-3350, certifies
as follows:

 

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

 

2.The undersigned
has commenced occupancy of the Premises described in the Lease, currently occupies the Premises, and the Term commenced on ____________________.

 

3.The Lease is
in full force and effect and has not been modified, supplemented or amended in any way except as provided in Exhibit A.
Tenant is not entitled to receive any concession or benefit (rental or otherwise) or other similar compensation in connection with
leasing the Premises other than as set forth in the Lease.

 

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

 

5.Base Rent became
payable on ____________________.

 

6.The Term expires
on _______________________.

 

7.All conditions
of the Lease to be performed by Landlord necessary to the enforceability of the Lease have been satisfied and neither Landlord
nor Tenant is in default thereunder. Without limiting the foregoing, (i) all construction and installation of tenant improvements
required to be performed by or paid by Landlord under the Lease have been completed and paid and (ii) there are no unpaid
allowances or rental concessions payable or creditable to Tenant which have not been paid or credited in full.

 

8.No rental has
been paid in advance and no security has been deposited with Landlord except as provided in the Lease.

 

9.As of the date
hereof, there are no existing defenses or offsets that the undersigned has, which preclude enforcement of the Lease by Landlord.

 

10.All monthly
installments of Base Rent and all Monthly Expense and Tax Installments (as those terms in quotation marks are defined in the Lease)
have been paid when due through ______________. The current monthly installment of Base Rent is $________________.

 

11.Tenant does
not have any option to purchase or right of first refusal or first offer to purchase the Empire Center, or any portion thereof,
or any interest therein and the only interest of Tenant in such property is as the Tenant under the Lease.

 

    	 	C-1	Empire Center
Point.360

     

    

 

12.The amount of
the security deposit held by Landlord to secure Tenant’s performance under the Lease is __________________ Dollars ($____________).
No portion of the security deposit has been utilized or applied by Landlord.

 

13.Tenant is not
the subject of any bankruptcy, insolvency, debtor’s relief, reorganization, receivership or other similar proceeding.

 

The undersigned acknowledges
that this Estoppel Certificate may be delivered to Landlord’s prospective mortgagee, trust deed holder or a prospective purchaser
or investor, and acknowledges that it recognizes that if same is done, in addition to Landlord, said mortgagee, prospective mortgagee,
trust deed holder or prospective purchaser or investor will be relying upon the statements contained herein in making the loan
or acquiring the property of which the Premises are a part, and in accepting an assignment of the Lease as collateral security,
and that receipt by it of this Estoppel Certificate is a condition of making the loan or acquisition of such property.

 

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

 

Executed at __________________
on the _____ day of ______________, 20___.

 

	 	“Tenant”
	 	 
	 	Point.360, a California corporation
	 	 
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

	 	Date Signed:	 
	 	 	 

 

 

    	 	C-2	Empire Center
Point.360

     

    

EXHIBIT D

 

PARKING AGREEMENT

 

This Parking Agreement
(this “Agreement”) made as of July 1, 2015, between Walton Empire Center V, L.L.C., a Delaware limited liability
company (the “Parking Operator”), and Point.360, a California corporation (“Tenant”).

 

Recitals

 

A.Concurrently
with the execution of this Agreement, Tenant is entering into a space lease (the “Lease”) with the Parking Operator,
as the landlord (and in such capacity is referred to herein as the “Landlord”) for certain premises (the “Premises”)
in the office building located at 2300 Empire Avenue, Burbank, California (the “Building”), which Building is
located in an office project currently known as “Empire Center” (the “Project”). Capitalized terms
used in this Agreement and not separately defined in this Agreement have the meanings set forth in the Lease.

 

B.Included within
the Project is a six (6) story parking structure, a surface parking lot adjacent to the Building, and a surface parking lot behind
the parking structure (collectively, the “Parking Facilities”), which Landlord currently operates, but which
Landlord (in Landlord’s sole and absolute discretion) may at any time in the future master lease to another operator.

 

C.Pursuant to the
terms of Section 8.5 of the Lease, during the Term Tenant is entitled to lease parking passes from the Parking Operator on
the terms, and subject to the conditions set forth in a separate agreement between Tenant and the Parking Operator to be entered
into concurrently with the Lease.

 

D.This Agreement
constitutes the separate agreement between Tenant and the Parking Operator referred to in Section 8.5 of the Lease.

 

Agreement

 

1.Parking Passes.

 

1.1General.
The term of this Agreement (the “Term”) shall commence on the Commencement Date and shall continue until the
earlier to occur of the Termination Date (as the same may be extended) or the earlier termination of the Lease. Tenant shall have
the right to lease the number of parking passes for the Parking Facilities as is set forth in Section 8.5 of the Lease (the
“Maximum Number of Parking Passes”), subject to the terms and conditions set forth in this Agreement. Each parking
pass shall entitle Tenant to park one (1) passenger size vehicle in the Parking Facilities on an unreserved, non-exclusive, first
come, first serve basis (the “Unreserved Passes”); provided, however, that at Tenant’s election, up to
the Maximum Number of Reserved Parking Passes may be converted from Unreserved Passes to reserved parking passes for the exclusive
use of specified parking spaces in the Parking Facilities (the “Reserved Passes”). As used herein, the “Maximum
Number of Reserved Parking Passes” means 50. Further, at Tenant’s election up to the Maximum Number of Reserved
Surface Lot Parking Spaces may be converted from Reserved Passes to reserved parking passes for the exclusive use of parking spaces
in the surface lot within the Parking Facilities located in an area near the Building’s main lobby entry (the “Surface
Lot Reserved Passes”). As used herein, the “Maximum Number of Reserved Surface Lot Parking Passes”
means 5. As of the date hereof, Tenant has elected to lease (i) the Maximum Number of Reserved Surface Lot Parking Passes,
and (ii) 180 Unreserved Passes. Tenant shall have a one-time right, exercisable within 120 days after the Commencement Date,
to revise its election as to the number and/or type of parking passes [not to exceed the Maximum Number of Parking Passes
or the Maximum Number of Reserved Parking Passes (including the Maximum Number of Reserved Surface Lot Parking Passes)]
by providing the Parking Operator at least 30 days prior Notice, at which point commencing on the later of (i) the first day of
the calendar month following the Parking Operator’s receipt of such Notice, and (ii) the date that is 30 days after the Parking
Operator’s receipt of such Notice any such additional requested parking passes shall be provided by the Parking Operator
and purchased by Tenant on the terms and subject to the conditions set forth in this Agreement and any excess parking passes shall
be cancelled and returned to the Parking Operator. Thereafter, subject to availability as determined by Parking Operator in its
sole, but good faith, discretion, Tenant may, from time to time, increase the number of Unreserved Parking Passes (not to exceed
the Maximum Number of Parking Passes), or convert its Unreserved Passes to Reserved Passes (not to exceed the Maximum Number of
Reserved Parking Passes) or decrease the number of parking passes of any type by providing the Parking Operator with at least 30
days’ prior Notice, at which point commencing on the later of (i) the first day of the calendar month following the Parking
Operator’s receipt of such Notice from Tenant, and (ii) the date that is 30 days following the Parking Operator’s receipt
of such Notice from Tenant any such additional parking passes shall be provided by the Parking Operator and purchased by Tenant
on the terms and subject to the conditions set forth in this Agreement and any excess parking passes shall be cancelled and returned
to the Parking Operator. For the avoidance of doubt, while the number of Reserved Passes (including the number of Surface Lot Reserved
Passes) and the number of Unreserved Passes may be increased or decreased from time to time on 30 days’ prior Notice as set
forth in this paragraph, Tenant shall have no right to lease more than the Maximum Number of Parking Passes (i.e., Tenant’s
Reserved Passes (including the number of Surface Lot Reserved Passes) and Unreserved Passes shall not exceed 250 parking passes).

 

    	 	D-1	Empire Center
Point.360

     

    

 

1.2Visitor Parking.
Additionally, Tenant may allocate a portion of Tenant’s Unreserved Passes to be used for temporary visitor parking in the
designated short-term parking area of the surface parking lot adjacent to the Building and/or in the parking structure. Such visitor
parking shall be available for Tenant’s visitors in lieu of the substituted Unreserved Passes for the subject month. If Tenant
should desire to convert Unreserved Passes to visitor parking passes, Tenant shall provide Parking Operator at least 30 days prior
Notice of the number of Tenant’s Unreserved Passes that Tenant will allocate for Tenant’s visitor parking (the “Visitor
Parking Passes”). Tenant shall continue to pay Parking Operator the normal monthly parking fee for such Visitor Parking
Passes at the then current rate for Unreserved Passes for the subject month and Tenant shall relinquish the designated number of
Unreserved Passes to Parking Operator before being provided with the corresponding Visitor Parking Passes. The Unreserved Parking
Passes shall be converted to Visitor Parking Passes on the first day of the month which is at least 30 days after Parking Operator’s
receipt of the Notice. The Visitor Parking Passes shall consist of one (1) chaser parking pass per Business Day per each Tenant
requested Visitor Parking Pass for the subject month. For example, if Tenant requests 10 Visitor Parking Passes for a month which
contains 18 Business Days, Tenant shall be provided with 180 chaser passes for visitor parking for said month, the number of Tenant’s
Unreserved Passes for such month shall be reduced by 10, and Tenant shall deliver 10 Unreserved Passes to Parking Operator. Except
as set forth above with respect to Visitor Parking Passes, visitor parking shall be charged at the then current visitor rate per
vehicle. Visitors parking in the parking structure are currently charged $1.00 per twenty (20) minute interval ($10.00/day maximum).
This rate is subject to change from time to time as determined by Parking Operator.

 

1.3Shared Parking
Passes. Certain of Tenant’s employees work non-concurrent shifts and Tenant has requested the right for these employees
to share Unreserved Passes. To accommodate Tenant’s request, Parking Operator has agreed to provide Tenant with up to an
additional 75 parking access cards for use with Tenant’s Unreserved Passes. Tenant will be charged for these additional parking
access cards only to the extent that Tenant’s use of unreserved parking spaces in the parking structure exceeds the number
of Unreserved Passes leased by Tenant in accordance with Section 1.1 above.

 

    	 	D-2	Empire Center
Point.360

     

    

 

2.Parking Charges.
Tenant shall pay to the Parking Operator, or if directed by the Parking Owner, to the Parking Operator’s parking garage manager,
if any, the monthly parking charges, if any, set forth below for the number and type of parking passes purchased by Tenant, without
deduction or offset (except as provided in Section 3, below), on the first day of each month during the Term. Except as expressly
set forth in Section 3 below, no deduction from monthly parking charges shall be made for days on which Tenant’s parking
passes are not fully utilized. The initial monthly parking charges for Unreserved Passes is $50.00 and for Reserved Passes is $125.00.
Notwithstanding the foregoing, in the event any surcharge, tax or regulatory fee is at any time imposed by any governmental authority
or subdivision thereof with reference to parking, Tenant shall, upon not less than 15 days’ prior notice, pay such surcharge,
tax or regulatory fee to the Parking Operator in advance on the first day of each calendar month. The Parking Operator will enforce
any surcharge, tax or regulatory fee in an equitable manner among the tenants of the Project utilizing the Parking Facilities.

 

3.Use of the
Parking Facilities. Tenant shall, and shall cause each of its agents, contractors, employees, customers, licensees, invitees
and subtenants (collectively “Tenant Parties”) at all times to, (i) comply with all applicable Federal, state,
and local laws, statutes, ordinances, rules, regulations, codes, decrees, orders and other requirements, (collectively “Laws”)
and (ii) abide by any rules and regulations for use of the Parking Facilities (the “Parking Rules”) that the
Parking Operator or the Parking Operator’s parking garage manager, if any, establishes from time to time, and in all events
agrees to use the Parking Facilities in a safe manner. The Parking Rules currently in effect are attached to this Agreement as
Schedule D-1. By execution of this Agreement, Tenant agrees to acquaint all persons to whom it provides parking passes with
the Parking Rules. The Parking Operator reserves the right to assign specific spaces, and to reserve spaces for visitors, compact
vehicles, alternative fuel vehicles, disabled persons or for other tenants or guests of the Project, and Tenant shall not park,
and shall not allow any Tenant Parties to park, in any such assigned or reserved spaces. Tenant acknowledges that the Parking Facilities
may be temporarily closed entirely or in part in order to make repairs or perform maintenance services, or to alter, modify, restripe
or renovate the Parking Facilities or if required by casualty, strike, condemnation, act of God, Law or any other reason beyond
the Parking Operator’s reasonable control. In such event, the Parking Operator shall refund any prepaid monthly parking charges
paid hereunder, prorated on a per diem basis, to the extent Tenant cannot use the Parking Facilities.

 

4.Assignment
Rights. Tenant’s right to purchase parking passes for the Parking Facilities is exclusive to Tenant and any approved
or permitted assignee of Tenant’s interests in this Lease and shall not be separated in any manner from the leasehold estate
of Tenant. The Parking Operator shall be entitled to 50% of any profits made by Tenant in connection therewith after deducting
the Costs Component (as defined in Section 6.1.5 of the Lease) and Tenant’s calculation of any Transfer Premium (as
provided in Section 6.1.5 of the Lease) for any such assignment or sublease; provided that the foregoing profit split shall
not apply to any Permitted Transfer under Section 6.1.7 of the Lease. The Parking Operator, on the other hand, may (in the
Parking Operator's sole and absolute discretion) at any time in the future master lease to another operator, and freely assign
this Agreement to such operator without any requirement to obtain Tenant's consent. In event of an assignment by the Parking Operator
of this Agreement, the same shall operate to release the Parking Operator from any future liability (incurred after the effective
date of said release) upon any of the covenants or conditions, expressed or implied, contained in this Agreement in favor of Tenant
upon such successor’s assumption of such obligations under this Agreement, and in such event, Tenant agrees to look solely
to the successor in interest of the Parking Operator in and to this Agreement for performance of all of the obligations of the
Parking Operator hereunder. Except as set forth in this Section 4, this Agreement shall not be affected by any such assignment
and Tenant agrees to attorn to the assignee of the Parking Operator. If any security has been given by Tenant to secure the faithful
performance of any of the covenants of this Agreement, the Parking Operator may transfer or deliver said security, as such, to
the Parking Operator’s successor in interest and thereupon the Parking Operator shall be discharged from any further liability
with regard to said security.

 

    	 	D-3	Empire Center
Point.360

     

    

 

5.Limitation
on Liability. Tenant agrees that to the fullest extent permitted by applicable Laws, the Parking Operator shall have no liability
for any loss or damage to property or other items located in the Parking Facilities (including any loss or damage to the vehicles
of Tenant or any Tenant Party or the contents thereof due to theft, vandalism or accident), or for any personal injury or death
arising out of the use of the Parking Facilities by Tenant or any Tenant Parties, whether or not such loss, damage, injury or death
results from the Parking Operator’s active negligence or negligent omission. The limitation on the Parking Operator’s
liability under the preceding sentence shall not apply, however, to loss, or damage, injury or death arising directly from the
Parking Operator’s willful misconduct. Tenant acknowledges that the Parking Operator may (in the Parking Operator's sole
and absolute discretion) from time to time in the future arrange for the Parking Facilities to be managed by another operator.
Without limiting the foregoing, Tenant acknowledges that to the fullest extent permitted by applicable Laws, the Parking Operator
shall have no liability for claims arising through acts or omissions of any such other operator. Tenant on its behalf and on behalf
of all others claiming through Tenant hereby voluntarily releases, discharges, waives and relinquishes any and all actions or causes
of action for personal injury, death, or property damage occurring to Tenant or any Tenant Parties arising as a result of parking
in the Parking Facilities or any activities incidental thereto, wherever or however the same occur, and further agrees that Tenant
will not prosecute any claim for personal injury, death or property damage against the Parking Operator or any manager of the Parking
Facilities or any of their respective trustees, partners, directors, officers, members, shareholders, agents, servants, employees
or contractors, for any of said causes of action and in all events, Tenant agrees to look first to its insurance carrier and to
require the Tenant Parties look first to their respective insurance carriers for payment of any losses sustained in connection
with any use of the Parking Facilities. Tenant hereby waives on behalf of its insurance carriers all rights of subrogation against
the Parking Operator or any of the Parking Operator’s trustees, partners, directors, officers, members, stockholders, agents,
servants, employees and contractors. If, for any other reason, Tenant or any Tenant Party properly designated by Tenant shall be
denied access to the Parking Facilities, and Tenant or such Tenant Party shall have complied with this Agreement and this Agreement
shall be in effect, the Parking Operator’s liability shall be limited to such parking charges (excluding tickets for parking
violations) incurred by Tenant or such Tenant Party in utilizing alternative parking, which amount the Parking Operator shall pay
upon presentation of documentation supporting Tenant’s claims in connection therewith.

 

6.Remedies for
Violation. If Tenant violates any of the terms and conditions of this Agreement, the Parking Operator or the manager of the
Parking Facilities, if any, shall have the right to remove from the Parking Facilities any vehicles that shall have been involved
or shall have been owned or driven by parties involved in causing such violation, without liability therefore whatsoever. In addition,
the Parking Operator shall have the right to cancel Tenant’s right to use the Parking Facilities pursuant to this Agreement
upon 10 days’ Notice, unless within such 10 day period, Tenant cures such violation. Such cancellation right shall be cumulative
and in addition to any other rights or remedies available to the Parking Operator at law or equity, or provided under this Agreement,
for violation of the provisions of this Agreement. If Tenant defaults with respect to the same term or condition under this Agreement
more than 3 times during any 12-month period, and the Parking Operator notifies Tenant thereof after each such default, the next
default of such term or condition during the succeeding twelve month period, shall, at the Parking Operator’s election, constitute
an incurable default. Any default by Tenant under the Lease shall be a default under this Agreement, and any default under this
Agreement shall be a default under the Lease.

 

    	 	D-4	Empire Center
Point.360

     

    

 

7.Miscellaneous.
By execution of this Agreement, each of Tenant and Landlord hereby represents and warrants that the person signing on behalf of
each such party is fully authorized to act on behalf of such party with respect to this Agreement and to execute and deliver this
Agreement on behalf of such party. In the event of any dispute hereunder, the prevailing party shall be entitled to recover all
costs, attorneys’ fees and expert witness fees from the non-prevailing party. If any provisions of this Agreement are not
enforceable, the remaining provisions of this Agreement shall be enforced in accordance with their terms. This Agreement may be
executed by counterpart and delivered by facsimile or as a PDF or similar attachment to an email. This Agreement shall be governed
by the Laws of the State of California (without regard to conflicts of law). This Agreement may be amended only by a written amendment,
fully executed and delivered by all the parties hereto.

 

[Remainder of this Page Intentionally
Left Blank; Signature Page Follows.]

 

    	 	D-5	Empire Center
Point.360

     

    

 

[Signature Page to Parking Agreement
between Walton Empire Center V, L.L.C., as the Parking Operator, and Point.360, as Tenant]

 

 

 

	Parking Operator:	 
	 	 
	WALTON EMPIRE CENTER V, L.L.C.,	 
	a Delaware limited liability company	 
	 	 
	 	 	 
	By:	Walton WH Investors V, L.P.,	 
	 	a Delaware limited partnership,	 
	 	its Sole Member	 

 

	 	By:	Walton WH Holdings V, L.L.C.,	 
	 	 	a Delaware limited liability company,	 
	 	 	its General Partner	 

 

	 	 	By:	Walton Street Real Estate Fund V, L.P.,	 
	 	 	 	a Delaware limited partnership,	 
	 	 	 	its Managing Member	 

 

	 	 	 	By:	Walton Street Managers V, L.P.,	 
	 	 	 	 	a Delaware limited partnership,	 
	 	 	 	 	its General Partner	 

 

	 	 	 	 	By:	WSC Managers V, Inc.,	 
	 	 	 	 	 	a Delaware corporation,	 
	 	 	 	 	 	its General Partner	 

 

	 	 	 	 	 	By:	  	 
	 	 	 	 	 	Name:	  	 
	 	 	 	 	 	Its:	   	 

 

 

    	 	D-6	Empire Center
Point.360

     

    

 

[Continuation of Signature Page to
Parking Agreement between Walton Empire Center V, L.L.C., as the Parking Operator, and Point.360, as Tenant]

 

 

	TENANT:	 
	 	 
	Point.360,	 
	a California corporation	 
	 	 	 
	By:	  	 
	Name:	  	 
	Title:	  	 
	 	 	 
	By:	  	 
	Name:	  	 
	Title:	  	 

 

 

 

    	 	D-7	Empire Center
Point.360

     

    

 

EXHIBIT D-1

 

TRAFFIC AND PARKING RULES AND REGULATIONS

 

The following rules
and regulations shall govern the use of the Parking Facilities: All capitalized terms used in these rules and regulations shall
have the same respective meanings as in the Parking Agreement to which they are attached.

 

1.Neither the Parking
Operator nor any parking garage manager assumes responsibility for any damage to any vehicle parked in the Parking Facilities or
for any goods left in any such vehicle. All such liability is specifically assumed by the operator of any such vehicle as a condition
of parking.

 

2.Tenant shall
not (a) park or permit any Tenant Parties to park in any parking areas designated by the Parking Operator or any parking garage
manager as areas for parking by visitors to the Project, (b) park or permit any Tenant Parties to park in spaces reserved for the
handicapped or for alternative fuel vehicles unless the vehicle is properly designated, (c) leave vehicles in the Parking Facilities
overnight or for extended terms except that Tenant shall be permitted to leave up to 10 vehicles (including any delivery trucks)
in the Parking Facilities overnight at all times and for extended terms or (d) park any vehicles in the parking areas other than
automobiles, motorcycles, motor driven or non-motor driven bicycles or four wheeled trucks or delivery trucks.

 

3.Parking cards,
stickers, or any other devices or forms of identification supplied by the Parking Operator as a condition of use of the Parking
Facilities shall remain the property of the Parking Operator. If requested, such parking identification device must be displayed
as requested and may not be mutilated in any manner. The serial number of the parking identification device may not be obliterated.
Devices are not transferable (other than in connection with an assignment of the Lease or sublease of the Premises) and any device
in the possession of an unauthorized holder will be void.

 

4.Only small vehicles
may be parked in areas designated for compact vehicles.

 

5.Vehicles must
be parked nose in only (backing into parking spaces is prohibited) and entirely within painted stall lines of a single parking
stall.

 

6.All directional
signs and arrows must be observed.

 

7.The speed limit
within all parking areas shall be 5 miles per hour.

 

8.Parking is prohibited
in any area other than those specifically designated for parking, including areas not striped for parking, aisles, ramps and loading
zones.

 

9.The Parking Operator
or the manager of the Parking Facilities, if any, may restrict or prohibit full size vans or large vehicles which cannot clear
the entry of the parking structure from entering the Parking structure.

 

10.Delivery trucks
and vehicles shall use only those areas designated therefor.

 

11.All parkers
are required to park and lock their own vehicles. All responsibility for damage to vehicles is assumed by the parker.

 

12.Loss or theft
of parking identification or access devices must be reported to the Parking Operator or the Parking Facilities manager, if any,
immediately, and a lost or stolen report must be filed by Tenant or user of such parking identification or access device at the
time. The Parking Operator and the manager of the Parking Facilities, if any, has the right to exclude any vehicle from the Parking
Facilities that does not have an identification device.

 

    	 	D-8	Empire Center
Point.360

     

    

 

13.Any parking
identification or access devices reported lost or stolen found on any unauthorized vehicle will be confiscated.

 

14.Washing, waxing,
cleaning or servicing of any vehicle in any area not specifically reserved for such purpose is prohibited.

 

15.Neither the
manager of the Parking Facilities, if any, nor any attendant is authorized to make or allow any exceptions to these rules and regulations.

 

16.Tenant shall
abide by these rules and regulations and the terms of this Agreement.

 

17.The Parking
Operator reserves the right to modify these rules and regulations or adopt such other reasonable and nondiscriminatory rules and
regulations for the Parking Facilities as it deems necessary for the operation of the Parking Facilities. The Parking Operator
may refuse to permit any person who violates these rules and regulations to park in the Parking Facilities, and any violation of
these rules and regulations shall subject the vehicle to removal at such vehicle owner’s expense. If there are any conflicts
between the rules and regulations set forth in this Schedule E-2 and the terms and conditions of the Parking Agreement set forth
in Exhibit E, then the terms of the Parking Agreement shall control.

 

 

 

    	 	D-9	Empire Center
Point.360

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