Document:

EX-10.17

 Exhibit 10.17 

LEASE 
 BY 

AND 
 BETWEEN 

TN REALTY, LLC AS LANDLORD 
 d/b/a
IN RHODE ISLAND AS TRUE NORTH REALTY, LLC 
 AND 

COMPOSITE SOLUTIONS, INC., AS TENANT 

373 Market Street 

Warren, Rhode Island 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	PAGE	 
		
	 ARTICLE 1 BASIC DATA, DEFINITIONS
	  	 	1	  
			
	 1.1
	 	 Basic Data
	  	 	1	  
			
	 1.2
	 	 Enumeration of Exhibits
	  	 	3	  
		
	 ARTICLE 2 PREMISES AND APPURTENANT RIGHTS
	  	 	4	  
			
	 2.1
	 	 Lease of Premises
	  	 	4	  
			
	 2.2
	 	 Appurtenant Rights and Reservations
	  	 	4	  
		
	 ARTICLE 3 BASIC RENT; SECURITY DEPOSIT ON BUILDING SALE
	  	 	4	  
			
	 3.1
	 	 Payment
	  	 	4	  
			
	 3.2
	 	 Security Deposit Upon Building Sale
	  	 	5	  
		
	 ARTICLE 4 TERM COMMENCEMENT DATE/EXTENSION TERM
	  	 	5	  
			
	 4.1
	 	 Term Commencement Date
	  	 	5	  
			
	 4.2
	 	 Extension Option
	  	 	5	  
		
	 ARTICLE 5 CONDITION/PREPARATION OF PREMISES
	  	 	6	  
			
	 5.1
	 	 Condition of Premises
	  	 	6	  
			
	 5.2
	 	 Improvements
	  	 	6	  
		
	 ARTICLE 6 USE OF PREMISES
	  	 	6	  
			
	 6.1
	 	 Permitted Use
	  	 	6	  
			
	 6.2
	 	 Installations and Alterations by Tenant
	  	 	7	  
			
	 6.3
	 	 Hazardous Materials
	  	 	8	  
		
	 ARTICLE 7 ASSIGNMENT AND SUBLETTING
	  	 	9	  
			
	 7.1
	 	 Prohibition
	  	 	9	  
			
	 7.2
	 	 Acceptance of Rent
	  	 	10	  
			
	 7.3
	 	 Reasonableness
	  	 	11	  
		
	 ARTICLE 8 RESPONSIBILITY FOR REPAIRS AND CONDITION
	  	 	11	  
			
	 8.1
	 	 Landlord Repairs
	  	 	11	  
			
	 8.2
	 	 Tenant Repairs
	  	 	11	  
			
	 8.3
	 	 Tenant’s Rights Regarding Deprivation of Critical Services
	  	 	12	  
			
	 8.4
	 	 Utilities
	  	 	12	  

  
 i 

							
	 8.5
	 	 Access
	  	 	13	  
		
	 ARTICLE 9 REAL ESTATE TAXES
	  	 	13	  
			
	 9.1
	 	 Payments on Account of Real Estate Taxes
	  	 	13	  
			
	 9.2
	 	 Abatement
	  	 	14	  
		
	 ARTICLE 10 OPERATING AND UTILITY EXPENSES
	  	 	14	  
			
	 10.1
	 	 Definitions
	  	 	14	  
			
	 10.2
	 	 Tenant’s Payment of Operating Expenses
	  	 	15	  
			
	 10.3
	 	 Triple Net Lease
	  	 	15	  
			
	 10.4
	 	 Tenant’s Audit Right
	  	 	15	  
		
	 ARTICLE 11 INDEMNITY AND PUBLIC LIABILITY INSURANCE
	  	 	16	  
			
	 11.1
	 	 Tenant’s Indemnity
	  	 	16	  
			
	 11.2
	 	 Landlord’s Indemnity
	  	 	16	  
			
	 11.3
	 	 Tenant Public Liability Insurance
	  	 	17	  
			
	 11.4
	 	 Tenant Casualty Insurance
	  	 	17	  
			
	 11.5
	 	 General Insurance Requirements
	  	 	17	  
			
	 11.6
	 	 Tenant’s Risk
	  	 	18	  
			
	 11.7
	 	 Waiver of Subrogation
	  	 	18	  
		
	 ARTICLE 12 FIRE, EMINENT DOMAIN, ETC
	  	 	18	  
			
	 12.1
	 	 Landlord’s Right of Termination
	  	 	18	  
			
	 12.2
	 	 Restoration; Tenant’s Right of Termination
	  	 	19	  
			
	 12.3
	 	 Landlord’s Insurance
	  	 	19	  
			
	 12.4
	 	 Abatement of Rent
	  	 	19	  
			
	 12.5
	 	 Condemnation Award
	  	 	20	  
		
	 ARTICLE 13 HOLDING OVER, SURRENDER
	  	 	20	  
			
	 13.1
	 	 Holding Over
	  	 	20	  
			
	 13.2
	 	 Surrender of Premises
	  	 	20	  
		
	 ARTICLE 14 RIGHTS OF MORTGAGEES, TRANSFER OF TITLE
	  	 	20	  
			
	 14.1
	 	 Rights of Mortgagees
	  	 	20	  
			
	 14.2
	 	 Notice to Mortgagee
	  	 	21	  
			
	 14.3
	 	 Assignment of Rents and Transfer of Title
	  	 	21	  
		
	 ARTICLE 15 DEFAULT, REMEDIES
	  	 	22	  

  
 ii 

							
	 15.1
	 	 Tenant’s Default
	  	 	22	  
			
	 15.2
	 	 Landlord’s Remedies
	  	 	23	  
			
	 15.3
	 	 Additional Rent
	  	 	24	  
			
	 15.4
	 	 Remedying Defaults
	  	 	24	  
			
	 15.5
	 	 Remedies Cumulative
	  	 	24	  
			
	 15.6
	 	 Attorneys’ Fees
	  	 	25	  
			
	 15.7
	 	 Waiver
	  	 	25	  
			
	 15.8
	 	 Landlord’s Default
	  	 	25	  
		
	 ARTICLE 16 MISCELLANEOUS PROVISIONS
	  	 	25	  
			
	 16.1
	 	 Rights of Access
	  	 	25	  
			
	 16.2
	 	 Covenant of Quiet Enjoyment
	  	 	25	  
			
	 16.3
	 	 Landlord’s Liability
	  	 	26	  
			
	 16.4
	 	 Estoppel Certificate
	  	 	26	  
			
	 16.5
	 	 Brokerage
	  	 	26	  
			
	 16.6
	 	 Rules and Regulations
	  	 	26	  
			
	 16.7
	 	 Invalidity of Particular Provisions
	  	 	27	  
			
	 16.8
	 	 Provisions Binding, Etc.
	  	 	27	  
			
	 16.9
	 	 Recording
	  	 	27	  
			
	 16.10
	 	 Notice
	  	 	27	  
			
	 16.11
	 	 When Lease Becomes Binding; Entire Agreement; Modification
	  	 	27	  
			
	 16.12
	 	 Headings and Interpretation of Sections
	  	 	28	  
			
	 16.13
	 	 Dispute Resolution
	  	 	28	  
			
	 16.14
	 	 Time Is of the Essence
	  	 	28	  
			
	 16.15
	 	 Multiple Counterparts
	  	 	28	  
			
	 16.16
	 	 Governing Law
	  	 	28	  

  
 iii 

 EXHIBITS 
  

			
	Exhibit A		Plan of Premises
	Exhibit B		Site Plan of Building
	Exhibit C		Operating Expenses
	Exhibit D		Rules and Regulations of Building
	Exhibit E		Form of Notice of Lease
	Exhibit F		Appraisers’ Determination of Fair Market Rent
	Exhibit G		Form of Subordination, Non-Disturbance and Attornment Agreement

  
 iv 

 L E A S E 

THIS LEASE is dated as of September 30, 2004 by and between the Landlord and the Tenant named below, and is for the Building
described below. 
 ARTICLE 1 

BASIC DATA; DEFINITIONS 

1.1 Basic Data. Each reference in this Lease to any of the following terms shall be construed to incorporate the data for that
term set forth in this Section: 
 Additional Rent: All charges and sums which Tenant is obligated to pay to Landlord pursuant to the
provisions of this Lease, other than and in addition to Basic Rent. 
 Agent: Officers, directors, members, managers, partners,
employees, agents and representatives. 
 Basic Rent: The Basic Rent is $2.75 per square feet of Premises Rentable Area increased
three percent (3%) annually on each of the first four (4) anniversary dates of the Term Commencement Date. The Basic Rent is as follows: 
  

									
	 Year
	  	Annual Basic Rent	 	  	Monthly Installment	 
	 1
	  	$	165,247.50	  	  	$	13,770.62	  
	 2
	  	$	170,204.92	  	  	$	14,183.74	  
	 3
	  	$	175,311.06	  	  	$	14,609.25	  
	 4
	  	$	180,570.39	  	  	$	15,047.53	  
	 5
	  	$	185,987.50	  	  	$	15,498.96	  

 If Tenant exercises the Extension Option as provided herein, then the Basic Rent for the Extension Term shall
be the greater of (i) the Annual Basic Rent for year five (5) of the Lease or (ii) the Fair Market Rent at the time the Extension Option is exercised in accordance with Section 4.2. As used herein, the term “Fair Market
Rent” means the Basic Rent as determined: (i) by agreement between Landlord and Tenant, negotiating in good faith, no later than thirty (30) days after Tenant’s timely exercise of the Extension Option (and Landlord shall not
be required to so negotiate prior to such date), or (ii) if Landlord and Tenant shall not have agreed upon the Fair Market Rent by said date as aforesaid (an “Impasse”), then Fair Market Rent for the Extension Term shall be
fixed by means of an Appraisers’ Determination as more particularly described in Exhibit F hereto. 
 Broker: None.

 Building: The building commonly known and numbered as 373 Market Street, Warren, Rhode
Island, 02885-0367 as shown on the site plan attached hereto as Exhibit B. 
 Building Rentable Area: 237,708 square
feet. 
 Business Days: All days except Saturdays, Sundays, and other days when federal or state banks in the state in which the
Property is located are not open for business. 
 Extension Option: Tenant’s right to extend the Term hereof in accordance with
Section 4.2. 
 Extension Term: The extended portion of the Term resulting from Tenant’s exercise of its Extension
Option in accordance with Section 4.2. 
 Force Majeure: Collectively and individually, strikes, lockouts or other labor
troubles, fire or other casualty, accidents, acts of God, governmental preemption of priorities or other controls in connection with a national or other public emergency, shortages of fuel, supplies or labor resulting from any of the foregoing, or
any other cause, whether similar or dissimilar, beyond the reasonable control of the party required to perform an obligation, excluding financial constraints of such party. 

Initial General Liability Insurance: $5,000,000.00 per occurrence/$5,000,000.00 aggregate (combined single limit) for property damage,
bodily injury or death. 
 Land: The parcel of land upon which the Building is situated. 

Landlord: TN Realty LLC, a Delaware limited liability company, d/b/a in Rhode Island as True North Realty, LLC. 

Landlord’s Address: c/o True North Partners, LLC, 6263 N. Scottsdale Road, Scottsdale, AZ 85250. 

Lease Year: Any 365-day period of time during the Term commencing on the Term Commencement Date, or any anniversary thereof, provided
that if the Term Commencement Date falls on a date other than the first day of the month, the first Lease Year shall conclude on the anniversary of the last day of such month. 

Outside Storage Space: The storage space located on the Land outside the Building as shown on Exhibit A. 

Permitted Uses: Office, manufacturing, assembly distribution and storage in connection with the design and manufacturing of composites
products and related accessories consistent with Tenant’s business as of the Term Commencement Date. 
 Premises: The portion of
the Building and Land shown on the plan attached hereto as Exhibit A and designated as Tenant’s area. 

  
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 Premises Rentable Area: 60,090 square feet (which includes the Premises and Tenant’s
Proportionate Share of the Shared Building Area). 
 Property: The Land together with the Building and other improvements thereon.

 Rent Commencement Date: Term Commencement Date. 

Security Deposit: A letter of credit in an amount equal to one year of the then current Annual Basic Rent at the time such Security
Deposit is required in accordance with Section 3.2 or such lesser amount that the purchaser of the Building may require. 
 Shared
Building Area: The portion of the Premises identified as such on Exhibit A. 
 Tenant: Composite Solutions, Inc., a Delaware
corporation. 
 Tenant’s Address: P.O. Box 367, Warren, Rhode Island 02885-0367. 

Tenant’s Proportionate Share: 25.3% (which is based on the ratio of the agreed upon (a) Premises Rentable Area to
(b) Building Rentable Area). 
 Term: Five (5) years, commencing on the Term Commencement Date and expiring at the close of
the day immediately preceding the 5th anniversary of the Term Commencement Date, except that if the Term Commencement Date is other than the first day of a calendar month, the expiration of the
Term shall be at the close of the last day of the calendar month in which such anniversary falls. The Term shall include any extension thereof that is expressly provided for by this Lease and that is effected strictly in accordance with this Lease.

 Term Commencement Date: The date hereof. 

1.2 Enumeration of Exhibits. 

The following Exhibits are attached hereto, are made a part of this Lease, are incorporated herein by reference, and are to be treated as a
part of this Lease for all purposes. Undertakings contained in such Exhibits are agreements on the part of Landlord and/or Tenant, as the case may be, to perform the obligations stated therein. 

 

			
	Exhibit A -	    	Plan of Premises
	Exhibit B -	    	Site Plan of Building
	Exhibit C -	    	Operating Expenses
	Exhibit D -	    	Rules and Regulations of Building
	Exhibit E -	    	Form of Notice of Lease
	Exhibit F -	    	Appraiser Determination of Fair Market Value
	Exhibit G -	    	Form of Subordination, Non-Disturbance and Attornment Agreement

  
 - 3 - 

 ARTICLE 2 

PREMISES AND APPURTENANT RIGHTS 

2.1 Lease of Premises. 

Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises for the Term and upon the terms and conditions
hereinafter set forth, subject to the rights of such other tenants of the Building as may be necessary for ingress and egress to such other tenants’ leased premises. 

2.2 Appurtenant Rights and Reservations. 

(a) Tenant shall have, as appurtenant to the Premises, the nonexclusive right to use Tenant’s Proportionate Share of the Shared Building
Area. 
 (b) Tenant shall have, as appurtenant to the Premises, the nonexclusive right to use, and permit its invitees to use (i) any
common walkways necessary for access to the Building; (ii) any walkways, stairs or other space necessary for access to the Premises or the Shared Building Area; or (iii) the access roads, driveways, parking areas (as the same may be
designated or modified by Landlord from time to time), loading areas, storage areas (which are not otherwise designated as Premises), pedestrian sidewalks, landscaped areas, trash enclosures and other areas or facilities, if any, which are located
in or on the Property and designated by Landlord from time to time for the non-exclusive use of tenants and other occupants of the Building; but such rights shall always be subject to such rules and regulations from time to time established by
Landlord pursuant to Section 16.6 (the “Rules and Regulations”), which Rules and Regulations shall be enforced in a manner which is consistent among all tenants of the Building; and such rights shall also be=subject to the right of Landlord to designate and change from time to time areas and facilities so to be used and to Landlord’s right to grant, modify and terminate easements and other
encumbrances so long as the same do not materially and adversely interfere with the use of the Premises by Tenant and do not materially and adversely impact vehicular access, parking and/or Storage areas on the Property. 

(b) Landlord shall cause Tenant’s name to be listed on the monument directory, if any, located in front of the Building. 

(c) Tenant shall be entitled to use the Building’s parking area(s) and storage areas (which are not otherwise designated as Premises)
shown on the plan attached hereto as Exhibit A, subject to the provisions hereof and the Rules and Regulations. Tenant acknowledges that its use of the parking spaces shall be on an unreserved, non-exclusive basis and that such spaces shall be used
solely for Tenant’s employees and visitors. 
 ARTICLE 3 

BASIC RENT; SECURITY DEPOSIT UPON BUILDING SALE 

3.1 Payment. 

  
 - 4 - 

 (a) Tenant agrees to pay the Basic Rent and Additional Rent to Landlord, or as directed by
Landlord in writing, commencing on the Rent Commencement Date, without offset, abatement, deduction or demand (except as provided herein). Basic Rent shall be payable in lawful money of the United States in equal monthly installments, in advance, on
the first day of each and every calendar month during the Term of this Lease, to Landlord at 8426 E. Shea Blvd. #4, Scottsdale, AZ 85260 c/o True North Partners, LLC or at such other place as Landlord shall from time to time designate by written
notice. In the event that any installment of Basic Rent or Additional Rent is not paid five (5) days after written Notice to Tenant when due, Tenant shall pay, in addition to any charges under Section 15.4, at Landlord’s
request an administrative fee equal to 5% of the overdue payment. In no event shall Landlord be required to provide Notice to Tenant for non-payment of Basic Rent or Additional Rent more than twice (2) in any calendar year. 

(b) Basic Rent for any partial month shall be pro-rated on a daily basis, and if the first day on which Tenant must pay Basic Rent shall be
other than the first day of a calendar month, the first payment which Tenant shall make to Landlord shall be equal to a proportionate part of the monthly installment of Basic Rent for the partial month from the first day on which Tenant must pay
Basic Rent to the last day of the month in which such day occurs, plus the installment of Basic Rent for the succeeding calendar month. 

3.2 Security Deposit Upon Building Sale. 

In the event that Landlord sells the Building at any time following the end of the 30th
calendar month from the month in which the Term Commencement Date falls, and the terms of sale require tenants of the Building to provide a security deposit, Tenant agrees to provide to such purchaser the Security Deposit upon 60 days notice from
Landlord. 
 ARTICLE 4 

TERM COMMENCEMENT DATE/EXTENSION TERM 

4.1 Term Commencement Date. The “Term Commencement Date” shall be the date hereof. 

4.2 Extension Option. Provided Tenant is not in default under any of the terms herein, Tenant shall have the option (the
“Extension Option”) to extend the Term of this Lease for one (1) five (5) year period (the “Extension Term”), with such Extension Option to be exercised by Tenant delivering to Landlord written notice thereof (the
“Tenant Extension Notice”) no later than the end of the 30th calendar month from the month in which Term Commencement Date falls. The Extension Term shall be upon all the same
terms, covenants and conditions as the Initial Term, except as to Basic Rent, which shall be determined as set forth in Section 1.1. 

  
 - 5 - 

 ARTICLE 5 

CONDITION/PREPARATION OF PREMISES 

5.1 Condition of Premises. Except as provided in Section 5.2 below, the Premises are being leased by Tenant in their
present condition, “As Is,” without representation or warranty by Landlord. Tenant acknowledges that it currently occupies the Premises and Common Facilities (as hereinafter defined) of the Building and, has found the same satisfactory.

 5.2 Improvements. (a) Subject to any building or fire code rules or regulations, Landlord agrees to install, at
Landlord’s expense, within 60 days from the Term Commencement Date, two (2) dividing fences situate in accordance with Exhibit A. Tenant agrees that to extent that the area separated by such dividing fence includes any Common Facility or
Shared Area, Tenant will provide reasonable access to such Common Facility or Shared Area to such any other tenant requiring access thereto. In the event that Landlord fails to install the dividing fences within the 60 day time period and such
failure is not the result of a building or fire code prohibition, Tenant shall have the right to install such dividing fences, subject to all building and fire code rules and regulations, and upon receipt by Landlord of reasonable evidence of
Tenant’s out-of-pocket expenses for such installation, Landlord shall either reimburse Tenant for such out-of-pocket expenses or credit the amount of such out-of-pocket expenses towards Tenant’s Basic Rent. 

(b) Landlord shall, at is expense, make any such improvements to the Property which are required by law; provided, that such improvements are
not necessitated by any tenant of the Property or the business conducted by any tenant of the Property. 
 ARTICLE 6 

USE OF PREMISES 

6.1 Permitted Use. 

(a) Tenant agrees that the Premises shall be used and occupied by Tenant only for Permitted Uses and for no other use without Landlord’s
prior express written consent, which consent shall not be unreasonably withheld or delayed. 
 (b) Tenant agrees to conform to the following
provisions during the Term of this Lease: 
 (i) Tenant shall cause all freight to be delivered to or removed from the
Building and the Premises in accordance with the Rules and Regulations established by Landlord so long as such Rules and Regulations do not unreasonably interfere with the operation of Tenant’s business; and 

(ii) Subject to Landlord’s prior consent and applicable zoning laws, Tenant may, at its sole cost and expense, maintain a
sign on both sides at the front of the Property (which may be lighted) and the unlit sign on the side of the Building. Other than as provided in the immediately preceding sentence, Tenant will not place on the exterior of the Premises (including
both interior and exterior surfaces of doors and 

  
 - 6 - 

 
interior surfaces of windows) or on any part of the Building outside the Premises, any sign, symbol, advertisement or the like visible to public view outside of the Premises. Landlord will not
withhold consent for any signs and lettering provided that such signs or lettering comply with law and are similar or better in quality to those used as of the Commencement Date, and provided that Tenant has submitted to Landlord a plan or sketch in
reasonable detail (showing, without limitation, size, color, location, materials and method of affixation) of such signs. 
 6.2
Installations and Alterations by Tenant. 
 (a) Tenant shall make no alterations, additions (including, for the purposes hereof,
building cranes), or improvements (collectively, “Alterations”) in or to the Premises without Landlord’s prior written consent. Notwithstanding the foregoing, Tenant shall have the right to make Alterations without
Landlord’s approval so long as the same (x) (1) do not affect the Structure as defined in Section 8.1 herein or the roof, window frames, outside walls, or the HVAC or other building systems of the Building and (2) do
not have an aggregate cost of more than $15,000 in any one year or (y) are internal reconfigurations, carpet, paint or other decorations. All Alterations made by Tenant shall (i) be performed in a good and workmanlike manner and in
compliance with all applicable laws, ordinances and regulations; (ii) be made at Tenant’s sole cost and expense; become part of the Premises and the property of Landlord, (unless otherwise approved in writing by Landlord or Landlord elects
in writing to require Tenant to remove the same upon Tenant’s surrender of the Premises); and (iii) be coordinated with any work being performed by Landlord in such a manner as not to damage the Building or interfere with the construction
or operation of the Building. At Landlord’s request, Tenant shall, before its work is started, secure assurances satisfactory to Landlord in its reasonable discretion protecting Landlord against claims arising out of the furnishing of labor and
materials for the Alterations. 
 (b) All articles of personal property and all business fixtures (except building cranes), machinery and
equipment, including resin tanks, and furniture owned or installed by Tenant solely at its expense in the Premises (“Tenant’s Removable Property”) shall remain the property of Tenant and may be removed by Tenant at any time
prior to the expiration or earlier termination of the Term, provided that Tenant, at its expense, shall repair any damage to the Building caused by such removal. 

(c) If any Alterations shall involve the removal of fixtures, equipment or other property in the Premises which are not Tenant’s
Removable Property, such fixtures, equipment or property shall be promptly replaced by Tenant at its expense with new fixtures, equipment or property of like utility and of at least equal quality. 

(d) Notice is hereby given, and Landlord and Tenant hereby agree, that Landlord shall not be liable for any labor or materials furnished or to
be furnished to Tenant upon credit, and that no mechanic’s or other lien for any such labor or materials shall attach to or affect the reversion or other estate or interest of Landlord in and to the Premises, the Building or the Property. To
the maximum extent permitted by law, before such time as any contractor commences to perform work on behalf of Tenant, Tenant shall obtain from such contractor (and any subcontractors), and shall furnish to Landlord, a written statement
acknowledging the 

  
 - 7 - 

 
provisions set forth in the immediately preceding sentence. Tenant agrees to pay promptly when due the entire cost of any work done on behalf of Tenant, Tenant’s Agents or independent
contractors, and not to cause or permit any liens for labor or materials performed or furnished in connection therewith to attach to all or any part of the Land and to immediately to discharge any such liens which may so attach. If, notwithstanding
the foregoing, any lien is filed against all or any part of the Land for work claimed to have been done for, or materials claimed to have been furnished to, Tenant or Tenant’s Agents or independent contractors, Tenant, at its sole cost and
expense, shall immediately cause such lien to be dissolved within thirty (30) days) after receipt of notice that such lien has been filed, by the payment thereof or by the filing of a bond sufficient to accomplish the foregoing and shall
deliver to Landlord evidence thereof within three (3) days of such dissolution. If Tenant shall fail to discharge any such lien, Landlord may, at its option, discharge such lien and treat the cost thereof (including attorneys’ fees
incurred in connection therewith) as Additional Rent payable upon demand, it being expressly agreed that such discharge by Landlord shall not be deemed to waive or release the default of Tenant in not discharging such lien. Tenant shall indemnify
and hold Landlord harmless from and against any and all expenses, liens, claims, liabilities and damages based on or arising, directly or indirectly, by reason of the making of any Alterations by or on behalf of Tenant to the Premises under this
Section, which obligation shall survive the expiration or earlier termination of this Lease. 
 6.3 Hazardous Materials. 

(a) As used herein the term “Hazardous Materials” shall mean each and every element, compound, chemical, mixture,
contaminant, pollutant, material, waste or other substance which is defined, determined or identified as hazardous or toxic under any Environmental Law, including, without limitation, an “oil,” “hazardous waste,” “hazardous
substance,” or “chemical substance or mixture,” as the foregoing terms (in quotations) are defined in Environmental Laws. 

(b) As used herein the term “Environmental Law” shall mean any federal, state and/or local statute, ordinance, bylaw, code,
rule and/or regulation now or hereafter enacted, pertaining to any aspect of the environment or human health, including, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. §9601 et
seq., the Resource Conservation and Recovery Act of 1976, 42 U.S.C. §6901 et seq., the Toxic Substances Control Act, 15 U.S.C. §2061 et seq., the Federal Clean Water Act, 33 U.S.C. §1251, and the Federal Clean Air Act, 42 U.S.C.
§7401 et seq., and all environmental laws of the state in which the Property is located and the regulations promulgated thereunder. Any handling, treatment, transportation, storage, disposal or use of Hazardous Materials by Tenant in or about
the Premises or the Property and Tenant’s use of the Premises shall comply with all applicable Environmental Laws. 
 (c) As used
herein the term “Environmental Condition” shall mean any disposal, release or threat of release of Hazardous Materials on, from or about the Premises, the Building or the Property or storage of Hazardous Materials on, from or about
the Premises, the Building or the Property in violation of or that requires any reporting to governmental authorities or other response action under any applicable Environmental Law. 

  
 - 8 - 

 (d) Tenant shall indemnify, defend upon demand with counsel reasonably acceptable to Landlord,
and hold Landlord harmless from and against, any liabilities, losses claims, damages, interest, penalties, fines, attorneys’ fees, experts’ fees, court costs, remediation costs, and other expenses which result from the use, storage,
handling, treatment, transportation, release, threat of release or disposal of Hazardous Materials in or about the Premises or the Property by Tenant or Tenant’s Agents or invitees either during or after the Term of this Lease. The provisions
of this Section 6.3 shall survive the expiration or earlier termination of this Lease, regardless of the cause of such expiration or termination. 

(e) Landlord shall indemnify, defend upon demand with counsel reasonably acceptable to Tenant, and hold Tenant harmless from and against, any
liabilities, losses claims, damages, interest, penalties, fines, attorneys’ fees, experts’ fees, court costs, remediation costs, and other expenses which result from the use, storage, handling, treatment, transportation, release, threat of
release or disposal of Hazardous Materials in or about the Premises or the Property by Landlord or Landlord’s Agents or invitees either prior to, during or after the Term of this Lease. The provisions of this Section 6.3 shall
survive the expiration or earlier termination of this Lease, regardless of the cause of such expiration or termination. 
 (f) Tenant shall
give written notice to Landlord as soon as reasonably practicable of (i) any communication received by Tenant from any governmental authority concerning Hazardous Materials which relates to the Premises, the Building or the Property, and
(ii) any Environmental Condition of which Tenant is aware. Landlord hereby acknowledges the storage of True North Composites foam processing equipment and resin tank on the Property. 

(g) Landlord specifically acknowledges and agrees that Tenant currently uses and stores Hazardous Materials on the Premises. Landlord hereby
consents to such continued use and storage of Hazardous Materials. Nothing herein shall be deemed a waiver or modification of Tenant’s obligations hereunder, including, without limitation, the provisions of paragraph (c) above. 

ARTICLE 7 
 ASSIGNMENT
AND SUBLETTING 
 7.1 Prohibition. 

(a) Except as expressly provided in this Section 7.1, Tenant covenants and agrees that neither this Lease nor the Term and estate
hereby granted, nor any interest herein or therein, will be assigned (collaterally, conditionally or otherwise), mortgaged, pledged, encumbered or otherwise transferred, whether voluntarily, involuntarily, by operation of law or otherwise, and that
neither the Premises, nor any part thereof, will be encumbered in any manner by reason of any act or omission on the part of Tenant, or used or occupied, or permitted to be used or occupied, by anyone other than Tenant, or for any use or purpose
other than the Permitted Use, or be sublet (which term, without limitation, shall include granting of concessions, licenses, use and occupancy agreements and the like) in whole or in part, or be offered or advertised for assignment or sublease by
Tenant or any person acting on behalf of Tenant, without in each case, the prior written consent of Landlord. Without limiting the 

  
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foregoing, any agreement: (x) which purports to relieve Tenant from the obligation to pay, or pursuant to which a third party agrees to pay on Tenant’s behalf, all or any portion of the
Rent under this Lease; and/or (y) pursuant to which a third party undertakes or is granted by or on behalf of Tenant the right to assign or attempt to assign this Lease or to sublet or attempt to sublet all or any portion of the Premises, shall
for all purposes hereof be deemed to be an assignment of this Lease and subject to the provisions of this ARTICLE 7. The provisions of this paragraph (a) shall apply to a transfer (by one or more transfers) of a controlling
portion of or interest in the stock, or partnership or membership interests or other evidences of equity interests of Tenant as if such transfer were an assignment of this Lease for which the consent of Landlord is required as herein provided. 

(b) Notwithstanding anything in this ARTICLE 7 to the contrary, the issuance, sale or transfer of all the stock in Tenant (whether or
not a change in control results) and merger or the transfer of stock pursuant to tender offers to shareholders, whether or not solicited, or the sale of all or substantially all the assets of Tenant or any other similar transaction which results in
a sale of all or substantially all of the Tenant, shall not be deemed an assignment subject to the terms of this ARTICLE 7. 
 (c)
Tenant shall have the right to assign or encumber its interest in this Lease under a leasehold mortgage; provided, however, Tenant shall not be relieved from its obligations hereunder and shall remain fully and primarily liable therefor unless
otherwise agreed to in writing by Landlord. 
 (d) Unless otherwise agreed to in writing by Landlord and Tenant, no assignment or subletting
hereunder shall relieve Tenant from its obligations hereunder, and Tenant shall remain fully and primarily liable therefor. Without limiting Landlord’s unequivocal right to withhold consent, Landlord may withhold or revoke any consent by
Landlord to a particular assignment, sublease or occupancy, if the assignment, sublease or occupancy agreement does not provide that the assignee, sublessee or other occupant agrees to be independently bound by and upon all of the covenants,
agreements, terms, provisions and conditions set forth in this Lease on the part of Tenant to be kept and performed (other than terms which customarily are altered by virtue of the sublease or assignment, such as the amount of rent and other
obligations of subtenant or assignee and any obligations retained by Tenant pursuant to a sublease, such as maintenance, and not assumed by subtenant) and otherwise comply with this ARTICLE 7. 

7.2 Acceptance of Rent. If this Lease is assigned, or if the Premises or any part thereof be sublet or occupied by anyone other
than Tenant, whether or not in violation of the terms and conditions of this Lease, Landlord may, at any time and from time to time, collect rent and other charges from the assignee, sublessee or occupant, and apply the net amount collected to the
Rent and other charges herein reserved, but no such assignment, sublease, occupancy, collection or modification of any provisions of this Lease shall be deemed a waiver of this covenant, or the acceptance of the assignee, sublessee or occupant as a
tenant or a release of Tenant from the payment and further performance of obligations on the part of Tenant to be performed hereunder. Any consent by Landlord to a particular assignment, sublease or occupancy or other act for which Landlord’s
consent is required under paragraph (a) of Section 7.1 shall not in any way diminish the prohibition stated in paragraph (a) of Section 7.1 as to 

  
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any further such assignment, sublease or occupancy or other act or the continuing liability of the original named Tenant. 

7.3 Reasonableness. Notwithstanding any other provision of this Lease to the contrary, Landlord may not unreasonably withhold,
condition or delay its consent to any assignment or sublease if (a) such assignee or subtenant agrees directly with Landlord, by written instrument in form satisfactory to Landlord in its reasonable discretion, to be bound by all obligations of
Tenant under the Lease (with respect only to the subleased premises in the case of a sublease), including, without limitation, the covenant against further assignment and subletting, and (b) one of the following applies: (1) the assignee,
at the time of such assignment, has a net worth, computed in accordance with generally accepted accounting principles consistently applied, at least equal to the greater of (i) the net worth of Tenant on the date hereof and (ii) the net
worth of Tenant on the date of the proposed assignment, and proof of such net worth satisfactory to Landlord shall have been delivered to Landlord at least ten (10) days prior to the effective date of any such assignment, or (2) a sublease
or subleases total less than twenty-five percent (25%) of the Premises (in the aggregate at any time during the Term). 
 ARTICLE 8

 RESPONSIBILITY FOR REPAIRS AND CONDITION 

OF PREMISES; SERVICES TO BE FURNISHED BY LANDLORD 

8.1 Landlord Repairs. Except as otherwise provided in this Lease, Landlord agrees to keep in good order, condition and repair
the Structure of the Building and to maintain the Property in compliance with laws to extent not related to any tenant’s use. As used herein the term “Structure” means the load bearing portions of the walls, columns, beams,
footings, and the roof, in each case necessary to preserve the load bearing capacity thereof, and including all life safety, fire sprinkler, HVAC, plumbing, mechanical and electrical systems in the Building (including any dust collection equipment
and vacuum systems and any other equipment or systems located within the Premises, or located elsewhere on the Property to the extent such HVAC equipment or systems serve the Premises and is not specific to Tenant’s business). Notwithstanding
any provision herein to the contrary, Landlord shall in no event be responsible to Tenant for any (i) resin tank, building crane or any equipment or system specific to the Tenant’s business, (ii) condition in the Premises, the
Building or the Property caused by any act or neglect of Tenant or any of Tenant’s Agents, invitees or independent contractors; or (iii) any maintenance or repairs required by reason of any Alterations, performed by or on behalf of Tenant.

 Landlord shall also, to the extent practicable (i) keep all Common Facilities reasonably free of snow, and (ii) keep and
maintain all landscaped areas on the Property in a neat and orderly condition. As used herein, the term “Common Facilities” means the Land and the Structure, collectively. 

8.2 Tenant Repairs. 

(a) Tenant will keep the Premises and any building crane used by Tenant and every part thereof neat and clean, and will maintain the same in
good order, condition and repair, 

  
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excepting only those repairs for which Landlord is responsible under the terms of this Lease, reasonable wear and tear of the Premises and building cranes used by Tenant, and damage by fire or
other casualty or as a consequence of the exercise of the power of eminent domain; and Tenant shall surrender the Premises to Landlord, upon the expiration or earlier termination of the Term, in such condition. Without limitation, Tenant shall, at
Tenant’s expense, comply with, and cause the Premises to comply with, all laws, codes and ordinances from time to time in effect and all directions, rules and regulations of governmental agencies having jurisdiction, and the standards
recommended by the local Board of Fire Underwriters applicable to Tenant’s use and occupancy of the Premises, and shall, at Tenant’s expense, timely obtain all permits, licenses and the like required thereby. Subject to
Section 11.6 regarding waiver of subrogation, Tenant shall be responsible for the cost of repairs and replacements which may be made necessary by reason of damage to the Building caused by any act or neglect of Tenant, or its Agents,
invitees or independent contractors (including any damage by fire or other casualty arising therefrom). 
 (b) If Tenant is required to
repair, replace or maintain any portion of the Building pursuant to the provisions of this Lease, and Tenant fails to commence to perform such act, upon not less than ten (10) days’ prior written notice, or fails to complete such act so
commenced within thirty (30) days (except that no notice shall be required in the event of an emergency), Landlord may perform such act (but shall not be required to do so), and the provisions of Section 15.4 (“Remedying
Defaults”) shall be applicable to the reasonable costs thereof. Landlord shall not be responsible to Tenant for any loss or damage whatsoever that may accrue to Tenant’s stock or business by reason of Landlord’s performing such
acts. 
 8.3 Tenant’s Rights Regarding Deprivation of Critical Services. 

(a) If by reason of the failure of Landlord to furnish life safety system, electrical plumbing, HVAC, water or to maintain the integrity of
the Building (“Critical Services”) required to be provided by Landlord, whether such failure is excused by reason of Force Majeure or constitutes an unexcused default, Tenant’s ability to conduct business at the Premises is
materially and adversely affected for ten (10) consecutive days or more and notice thereof has been given to Landlord (and whether or not Tenant elects to exercise its rights of self-help) Tenant shall have the right to a full abatement of
Basic Rent and other charges payable by Tenant hereunder retroactively from the date Critical Services (or any of them) have ceased until such time as such Critical Service(s) have been restored. If Critical Service(s) can not be restored and
Tenant’s ability to conduct business at the Premises has been materially and adversely affected for a period of sixty (60) days after notice thereof to Landlord, Tenant may terminate this Lease upon no less than fifteen (15) days
notice to Landlord. 
 (b) If necessary by reason of an emergency or to prevent the interruption of further interruption of the conduct of
business in the Premises or the providing of Critical Services, or to prevent injury to persons or damage to property, Tenant may cure a default by Landlord at the expense and for the account of Landlord, but only after oral or written notice and
such opportunity as is reasonable under the circumstances to cause the cure thereof by Landlord. 
 8.4 Utilities. Electrical
service, natural gas service, water and sewer to the Premises are not separately metered and Tenant shall pay all charges therefor as a Common Area Expense. However, at Tenant’s option and its sole cost and expense, Tenant shall have the right
to install separate meters for any utility, in which case the costs for such utility shall be paid directly to the 

  
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provider by Tenant. Landlord shall permit Landlord’s existing wires, risers, conduits and other electrical equipment of Landlord to be used to supply electricity to Tenant at the Premises.

 8.5 Access. Tenant shall have access to the Premises at all times, subject to security precautions from time to time in
effect (but Landlord shall not be obligated to provide security for the Building or the Property) and subject always to restrictions based on emergency conditions. If and to the extent that Tenant desires to provide security for the Premises or for
such persons or their property, Tenant shall be responsible at its own expense for so doing, after having first consulted with Landlord and after obtaining Landlord’s consent, which shall not be unreasonably withheld. Landlord expressly
disclaims any and all responsibility and/or liability for the physical safety of Tenant’s property, and for that of Tenant’s Agents, invitees and independent contractors, and, without in any way limiting the operation of ARTICLE 11
hereof, Tenant, for itself and its Agents, hereby expressly waives any claim, action, cause of action or other right which may accrue or arise as a result of any damage or injury to the person or property of Tenant or any such Agent. Tenant agrees
that, as between Landlord and Tenant, it is Tenant’s responsibility to advise Tenant’s Agents, invitees and independent contractors as to necessary and appropriate safety precautions. 

ARTICLE 9 
 REAL
ESTATE TAXES 
 9.1 Payments on Account of Real Estate Taxes. 

(a) “Tax Year” shall mean a twelve (12) month period commencing on July 1 and falling wholly or partially within
the Term, and “Taxes” shall mean (i) all taxes, assessments (special or otherwise), levies, fees and all other government levies, exactions and charges of every kind and nature, general and special, ordinary and extraordinary,
foreseen and unforeseen, which are, at any time prior to or during the Term, imposed or levied upon or assessed against the Property or any portion thereof, or against any Basic Rent, Additional Rent or other rent of any kind or nature payable to
Landlord by anyone on account of the ownership, leasing or operation of the Property and any portion thereof, or which arise on account of or in respect of the ownership, development, leasing, operation or use of the Property or any portion thereof;
(ii) all gross receipts taxes or similar taxes imposed or levied upon, assessed against or measured by any Basic Rent, Additional Rent or other rent of any kind or nature or other sum payable to Landlord by anyone on account of the ownership,
development, leasing, operation, or use of the Property or any portion thereof; (iii) all value added, use and similar taxes at any time levied, assessed or payable on account of the ownership, development, leasing, operation, or use of the
Property or any portion thereof; and (iv) reasonable expenses of any proceeding for abatement of any of the foregoing items included in Taxes; but the amount of special taxes or special assessments included in Taxes shall be limited to the
amount of the installment (plus any interest, other than penalty interest, payable thereon) of such special tax or special assessment required to be paid during the year in respect of which such Taxes are being determined. There shall be excluded
from Taxes all income, estate, succession, franchise, inheritance and transfer taxes of Landlord; provided, however, that if at any time during the Term the present system of ad valorem taxation of real property shall be changed so that a capital
levy, franchise, income, profits, sales, rental, use and occupancy, excise or other tax or charge shall in whole or in part be 

  
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substituted for, or added to, such ad valorem tax and levied against, or be payable by, Landlord with respect to the Property or any portion thereof, such tax or charge shall be included in the
term “Taxes” for the purposes of this Article. 
 (b) Tenant shall pay to Landlord, as Additional Rent, Tenant’s
Proportionate Share of Taxes, such amount to be apportioned for any portion of a Tax Year in which the Term Commencement Date falls or the Term expires. 

(c) Estimated payments by Tenant on account of Taxes shall be made on the first day of each and every calendar month during the Term of this
Lease, in the fashion herein provided for the payment of Basic Rent. The monthly amount so to be paid to Landlord shall be sufficient to provide Landlord by the time real estate tax payments are due with a sum equal to Tenant’s required
payment, as reasonably estimated by Landlord from time to time, on account of Taxes for the then current Tax Year. Once annually, Landlord shall advise Tenant of the amount of the tax bills for the prior Tax Year and the computation of Tenant’s
payment on account thereof. If estimated payments theretofore made by Tenant for the Tax Year covered by such bills exceed the required payment on account thereof for such Tax Year, Landlord shall credit the amount of overpayment against subsequent
obligations of Tenant on account of Taxes (or promptly refund such overpayment if requested by Tenant or if the Term of this Lease has ended and Tenant has no further obligation to Landlord); but if the required payments on account thereof for such
Tax Year are greater than estimated payments theretofore made on account thereof for such Tax Year, Tenant shall pay the difference to Landlord as Additional Rent within thirty (30) days after being so advised by Landlord in writing, and the
obligation to make such payment for any period within the Term shall survive expiration or earlier termination of the Term. 
 9.2
Abatement. If Landlord shall receive any tax refund or reimbursement of Taxes or sum in lieu thereof with respect to any Tax Year all or any portion of which falls within the Term, then out of any balance remaining thereof after deducting
Landlord’s expenses in obtaining such refund, Landlord shall pay to Tenant, provided there does not then exist a Default of Tenant, an amount equal to such refund or reimbursement or sum in lieu thereof (exclusive of any interest, and
apportioned if such refund is for a Tax Year a portion of which falls outside the Term,) multiplied by Tenant’s Proportionate Share; provided, that in no event shall Tenant be entitled to receive more than the payments made by Tenant on account
of Taxes for such Tax Year pursuant to paragraph (b) of Section 9.1. 
 ARTICLE 10 

OPERATING AND UTILITY EXPENSES 

10.1 Definitions. 

(a) “Operating Year” shall mean each calendar year all or any part of which falls within the Term; 

(b) “Operating Expenses” shall mean the aggregate costs and expenses incurred by Landlord with respect to the operation,
administration, cleaning, repair, replacement, maintenance and management of the Property, all as set forth in Exhibit C attached hereto. 

  
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 10.2 Tenant’s Payment of Operating Expenses. 

(a) Tenant shall pay to Landlord, as Additional Rent, an amount equal to (i) Operating Expenses multiplied by (ii) Tenant’s
Proportionate Share, such amount to be apportioned for any portion of an Operating Year in which the Term Commencement Date falls or the Term of this Lease ends. 

(b) Estimated payments by Tenant on account of Operating Expenses shall be made on the first day of each and every calendar month during the
Term of this Lease, in the fashion herein provided for the payment of Basic Rent. The monthly amount so to be paid to Landlord shall be sufficient to provide Landlord by the end of each Operating Year a sum equal to Tenant’s required payment,
as reasonably estimated by Landlord from time to time during each Operating Year, on account of Operating Expenses for such Operating Year. After the end of each year, Landlord shall submit to Tenant a reasonably detailed accounting of Operating
Expenses for the prior Operating Year, and Landlord shall certify to the accuracy thereof. If estimated payments theretofore made for such Operating Year by Tenant exceed Tenant’s required payment on account thereof for such Operating Year
according to such statement, Landlord shall credit the amount of overpayment against subsequent obligations of Tenant with respect to Operating Expenses (or promptly refund such overpayment if requested by Tenant or if the Term of this Lease has
ended and Tenant has no further obligation to Landlord); but if the required payments on account thereof for such Operating Year are greater than the estimated payments (if any) theretofore made on account thereof for such Operating Year, Tenant
shall pay to Landlord, as Additional Rent, within thirty (30) days after being so advised by Landlord in writing, and the obligation to make such payment for any period within the Term shall survive the expiration or earlier termination of the
Term. 
 (c) Utility Payments. Unless charged as a Common Area Expense, Tenant shall pay, directly to the proper authorities charged
with collection thereof, all charges for utilities used and consumed in the Premises, including without limitation, charges for gas, electricity and telephone service; provided, however, that Landlord shall pay water and sewer charges for the
Premises directly to the service provider and include such charges in Operating Expenses. 
 10.3 Triple Net Lease. This Lease
is a triple net lease and it is intended that, except where specifically provided herein, Tenant shall reimburse Landlord Tenant’s Proportionate Share of all costs incurred in connection with the operation and maintenance of the Premises. 

10.4 Tenant’s Audit Right. Tenant shall have the right to examine, copy and audit Landlord’s books and records
establishing Operating Expenses for any Operating Year for a period of one (1) year following the date that Tenant receives the statement of Operating Expenses for such Operating Year from Landlord. Tenant shall give Landlord not less than
thirty (30) days’ prior notice of its intention to examine and audit such books and records, and such examination and audit shall take place at such place within the continental United States as Landlord routinely maintains such books and
records, unless Landlord elects to have such examination and audit take place in another location designated by Landlord in the city and state in which the Property is located. All costs of the examination and audit shall be borne by Tenant;
provided, however, that if such examination and audit establishes that the actual 

  
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Operating Expenses for the Operating Year in question are less than the amount set forth as the annual Operating Expenses on the annual statement delivered to Tenant by at least five percent
(5%), then Landlord shall pay the reasonable costs of such examination and audit. If, pursuant to the audit, the payments made for such Operating Year by Tenant exceed Tenant’s required payment on account thereof for such Operating Year,
Landlord shall credit the amount of overpayment against subsequent obligations of Tenant with respect to Operating Expenses (or promptly refund such overpayment if the Term of this Lease has ended and Tenant has no further obligation to Landlord);
but, if the payments made by Tenant for such Operating Year are less than Tenant’s required payment as established by the examination and audit, Tenant shall pay the deficiency to Landlord within thirty (30) days after conclusion of the
examination and audit, and the obligation to make such payment for any period within the Term shall survive expiration of the Term. Tenant shall be required to deliver to Landlord a copy of its contract with its auditor and a copy of all reports
produced by its auditor, and Tenant shall not be permitted to engage an auditor which is paid on a contingency or percentage basis. If Tenant does not elect to exercise its right to examine and audit Landlord’s books and records for any
Operating Year within the time period provided for by this paragraph, Tenant shall have no further right to challenge Landlord’s statement of Operating Expenses. 

ARTICLE 11 
 INDEMNITY
AND PUBLIC LIABILITY INSURANCE 
 11.1 Tenant’s Indemnity. Except to the extent arising from the gross negligence
or willful misconduct of Landlord or Landlord’s Agents, Tenant agrees to indemnify and save harmless Landlord and Landlord’s Agents from and against all claims, losses, cost, damages, liabilities or expenses of whatever nature arising:
(i) from any accident, injury or damage whatsoever to any person, or to the property of any person, occurring in or about the Premises; (ii) from any accident, injury or damage whatsoever to any person, or to property of any person, occurring
outside of the Premises but on or about the Property, where such accident, damage or injury results or is claimed to have resulted from any act or omission on the part of Tenant or Tenant’s Agents, invitees or independent contractors;
(iii) from the use or occupancy of the Premises or of any business conducted therein, and, in any case, occurring after the Term Commencement Date until the expiration or earlier termination of the Term of this Lease and thereafter so long as
Tenant is in occupancy of all or any part of the Premises; or (iv) from any default or breach by Tenant or Tenant’s Agents under the terms or covenants of this Lease. This indemnity and hold harmless agreement shall include indemnity
against all losses, costs, damages, expenses and liabilities incurred in or in connection with any such claim or any proceeding brought thereon, and the defense thereof, including, without limitation, reasonable attorneys’ fees and costs at
both the trial and appellate levels. The provisions of this Section shall survive the expiration or earlier termination of the Lease, regardless of the cause of such expiration or earlier termination. 

11.2 Landlord’s Indemnity. Except to the extent arising from the gross negligence or willful misconduct of Tenant or
Tenant’s Agents, Landlord agrees to indemnify and save harmless Tenant and Tenant’s Agents from and against all claims, losses, cost, damages, liabilities or expenses of whatever nature arising: (i) from any accident, injury or damage
whatsoever to any person, or to the property of any person, occurring in or about the Premises 

  
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where such accident, damage or injury results or is claimed to have resulted from any gross negligence or willful misconduct on the part of Landlord or Landlord’s Agents, invitees or
independent contractors; (ii) from any accident, injury or damage whatsoever to any person or to property of any person, occurring outside of the Premises but on or about the Property, where such accident, damage or injury results or is claimed
to have resulted from the gross negligence or willful misconduct on the part of Landlord or Landlord’s Agents, invitees or independent contractors; or (iii) from any default or breach by Landlord or Landlord’s Agents under the terms
or covenants of this Lease. This indemnity and hold harmless agreement shall include indemnity against all losses, costs, damages, expenses and liabilities incurred in or in connection with any such claim or any proceeding brought thereon, and the
defense thereof, including, without limitation, reasonable attorneys’ fees and costs at both the trial and appellate levels. The provisions of this Section shall survive the expiration or earlier termination of the Lease, regardless of the
cause of such expiration or earlier termination. 
 11.3 Tenant Public Liability Insurance. (a) Tenant agrees to maintain
in full force from the date upon which Tenant first enters the Premises for any reason, throughout the Term of this Lease, and thereafter so long as Tenant is in occupancy of all or any part of the Premises, a policy of commercial general liability
and property damage insurance (including broad form contractual liability, independent contractor’s hazard and completed operations coverage) under which Tenant is named as an insured and Landlord, Landlord’s Managing Agent, other tenants
of the Property requiring access to the Premises or the Shared Building Area and such other persons as are in privity of estate with Landlord as may be set out in a notice to Tenant from time to time, are named as additional insureds, and under
which the insurer agrees to indemnify and hold Landlord, Landlord’s Managing Agent, and those in privity of estate with Landlord, harmless from and against all cost, expense and/or liability arising out of or based upon any and all claims,
accidents, injuries and damages set forth in Section 11.1. Tenant may satisfy such insurance requirements by including the Premises in a so-called “blanket” and/or “umbrella” insurance policy, provided that the amount
of coverage allocated to the Premises shall fulfill the requirements set forth herein. Tenant’s commercial general liability insurance policy shall be written on an “occurrence” basis, and shall be in at least the amounts of the
Initial General Liability Insurance specified in Section 1.1 or such greater amounts as Landlord in its reasonable discretion shall from time to time request. 

(b) Landlord agrees to include in any lease with respect to the Property, entered into by Landlord on or after the Term Commencement Date, a
public liability insurance provision substantially the same as Section 11.3(a). 
 11.4 Tenant Casualty Insurance. Tenant
agrees to maintain in full force from the date upon which Tenant first enters the Premises for any reason, throughout the Term of this Lease, and thereafter so long as Tenant is in occupancy of all or any part of the Premises, “all-risk”
property insurance on a “replacement cost” basis, insuring Tenant’s Removable Property and any Alterations made by Tenant pursuant to Section 6.2, to the extent that the same have not become the property of Landlord. 

11.5 General Insurance Requirements. Each policy required hereunder shall be non-cancelable and non-amendable with respect to
Landlord, Landlord’s Managing Agent and Landlord’s said designees without thirty (30) days’ prior written notice to Landlord. With 

  
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respect to all insurance which Tenant is required to carry hereunder, Tenant shall, prior to entering the Premises for any reason, deliver to Landlord a duplicate original policy or a certificate
of insurance satisfactory to Landlord, together with a photocopy of the entire policy, with respect thereto. 
 11.6 Tenant’s
Risk. Tenant agrees to use and occupy the Premises, and to use such other portions of the Property as Tenant is herein given the right to use, at Tenant’s own risk. Landlord shall not be liable to Tenant, or Tenant’s Agents,
contractors or invitees for any damage, injury, loss, compensation, or claim (including, but not limited to, claims for the interruption of or loss to Tenant’s business) based on, arising out of or resulting from any cause whatsoever,
including, but not limited to, repairs to any portion of the Premises or the Property, any fire, robbery, theft, mysterious disappearance and/or any other crime or casualty, the actions of any other tenants of the Building or of any other person or
persons, or any leakage in any part or portion of the Premises or the Building, or from water, rain or snow that may leak into, or flow from any part of the Premises or the Building, or from drains, pipes or plumbing fixtures in the Building, unless
due to the gross negligence or willful misconduct of Landlord or Landlord’s Agents. Any goods, property or personal effects stored or placed in or about the Premises shall be at the sole risk of Tenant, and neither Landlord nor Landlord’s
insurers shall in any manner be held responsible therefor. Notwithstanding the foregoing, Landlord shall not be released from liability for any injury, loss, damages or liability to the extent arising from any gross negligence or willful misconduct
of Landlord or Landlord’s Agents; provided, however, that in no event shall Landlord or Landlord’s Agents have any liability to Tenant based on any loss with respect to or as a result of interruption in the operation of Tenant’s
business. 
 11.7 Waiver of Subrogation. The parties hereto shall each procure an appropriate clause in, or endorsement to,
any property insurance policy on the Premises or any personal property, fixtures or equipment located thereon or therein, pursuant to which the insurer waives subrogation or consents to a waiver of right of recovery in favor of either party and its
respective Agents. Having obtained such clauses and/or endorsements, each party hereby agrees that it will not make any claim against or seek to recover from the other or its Agents for any loss or damage to its property or the property of others
resulting from fire or other perils covered by such property insurance. 
 ARTICLE 12 

FIRE, EMINENT DOMAIN, ETC. 

12.1 Landlord’s Right of Termination. If (a) the Premises or the Building are substantially damaged by fire or
casualty in such a way that directly impacts the Tenant (the term “substantially damaged” meaning damage of such a character that the same cannot, in the ordinary course, reasonably be expected to be repaired within sixty (60) days
from the time that repair work would commence), or (b) part of the Building or the Property is taken by any exercise of the right of eminent domain, then Landlord or Tenant at their mutual independent option shall have the right to terminate
this Lease (even if Landlord’s entire interest in the Premises may have been divested) by giving notice to the other Party of the Party’s election so to do within sixty (60) days after the occurrence of such casualty or the effective
date of such taking, whereupon this Lease shall terminate on the earlier of (a) forty-five (45) days after the 

  
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date of such notice or (b) the effective date of such taking with the same force and effect as if such date were the date originally established as the expiration date hereof. 

12.2 Restoration; Tenant’s Right of Termination. If (a) the Premises or the Building are damaged by fire or other
casualty, or (b) all or part of the Building is taken by right of eminent domain; and this Lease is not terminated pursuant to Section 12.1, Landlord shall thereafter use diligent best efforts to restore the Building and the
Premises to proper condition for Tenant’s use and occupation. If, for any reason, such restoration shall not be substantially completed within six (6) months after the expiration of the sixty (60) day period referred to in
Section 12.1 (which six (6) month period may be extended for such periods of time as Landlord is prevented from proceeding with or completing such restoration due to Force Majeure, but in no event for more than an additional three
(3) months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within thirty (30) days after the expiration of such period (as so extended) provided that such restoration is not completed within such
period. This Lease shall cease and come to an end without further liability or obligation on the part of either party thirty (30) days after such giving of notice by Tenant unless, within such thirty (30) day period, Landlord substantially
completes such restoration to Tenant’s reasonable satisfaction. Such right of termination shall be Tenant’s sole and exclusive remedy at law or in equity for Landlord’s failure so to complete such restoration, and time shall be of the
essence with respect thereto. 
 12.3 Landlord’s Insurance. Landlord agrees to maintain in full force and effect, during
the Term of this Lease, property damage insurance with such deductibles and in such amounts as may from time to time be carried by reasonably prudent owners of similar buildings in the area in which the Property is located, provided that in no event
shall Landlord be required to carry other than fire and extended coverage insurance or insurance in amounts greater than 90% of the actual insurable cash value of the Building (excluding footings and foundations). Landlord may satisfy such insurance
requirements by including the Property in a so-called “blanket” insurance policy, provided that the amount of coverage allocated to the Property shall fulfill the foregoing requirements. 

12.4 Abatement of Rent. If the Premises or the Building are damaged by fire or other casualty, Basic Rent and Additional Rent
payable by Tenant shall abate proportionately for the period during which, by reason of such damage, Tenant’s use of the Premises (excluding the Test Pits) is prevented, having regard for the extent to which Tenant may be required to
discontinue Tenant’s use of all or an undamaged portion of the Premises due to such damage, but such abatement or reduction shall end if and when either (a) Landlord shall have substantially completed sufficient restoration that Tenant is
able to use the Premises and the Premises are in substantially the condition it was in prior to such damage (excluding any Alterations made by Tenant pursuant to Section 6.2 and Tenant’s Removable Property), or (b) Tenant shall
have commenced occupancy and use of the Building. If the Premises shall be affected by any exercise of the power of eminent domain, Basic Rent and Operating Expenses payable by Tenant shall be justly and equitably abated and reduced according to the
nature and extent of the loss of use thereof suffered by Tenant. In no event shall Landlord have any liability for damages to Tenant for inconvenience, annoyance, or interruption of business arising from any fire or other casualty or eminent domain.

  
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 12.5 Condemnation Award. Landlord shall have and hereby reserves and excepts, and
Tenant hereby grants and assigns to Landlord, all rights to recover for damages to the Property and the leasehold interest hereby created, and to compensation accrued or hereafter to accrue by reason of any taking, by exercise of the right of
eminent domain, and by way of confirming the foregoing, Tenant hereby grants and assigns, and covenants with Landlord to grant and assign to Landlord, all rights to such damages or compensation, and covenants to deliver such further assignments and
assurances thereof as Landlord may from time to time request. Nothing contained herein shall be construed to prevent Tenant from prosecuting in a separate condemnation proceeding a claim for the value of any of Tenant’s Removable Property
installed in the Premises by Tenant at Tenant’s expense and for relocation expenses, provided that such action shall not affect the amount of compensation otherwise recoverable by Landlord from the taking authority. 

ARTICLE 13 
 HOLDING
OVER; SURRENDER 
 13.1 Holding Over. Any holding over by Tenant after the expiration of the Term of this Lease shall
be treated as a daily tenancy at sufferance at a rent equal to one and a half (1 1/2) times the Basic Rent in effect immediately prior to such expiration plus the Additional Rent herein provided (prorated on a daily basis). Tenant shall also pay to
Landlord all damages, direct and/or indirect, sustained by reason of any such holding over. In all other respects, such holding over shall be on the terms and conditions set forth in this Lease as far as applicable. 

13.2 Surrender of Premises. Upon the expiration or earlier termination of the Term of this Lease, Tenant shall peaceably quit
and surrender to Landlord the Premises in neat and clean condition and in good order, condition and repair, together with all alterations, additions and improvements which may have been made or installed in, on or to the Premises prior to or during
the Term of this Lease (except as hereinafter provided), excepting only ordinary wear and use and damage by fire or other casualty for which, under other provisions of this Lease, Tenant has no responsibility to repair or restore. Upon such
expiration or earlier termination of the Term, Tenant shall remove from the Premises all of Tenant’s Removable Property and, to the extent specified by Landlord, all Alterations made by Tenant and all partitions wholly within the Premises
unless installed initially by Landlord in preparing the Premises for Tenant’s occupancy; and shall repair any damages to the Premises or the Building caused by such removal. Any Tenant’s Removable Property which shall remain in the
Building or on the Premises after the expiration or earlier termination of the Term of this Lease shall be deemed conclusively to have been abandoned, and either may be retained by Landlord as its property or may be disposed of in such manner as
Landlord may see fit, at Tenant’s sole cost and expense. 
 ARTICLE 14 

RIGHTS OF MORTGAGEES; TRANSFER OF TITLE 

14.1 Rights of Mortgagees. This Lease shall not be subject and subordinate to the lien and terms of any mortgage, deed of trust
or ground lease or similar encumbrance (collectively, a “Mortgage”, and the holder thereof from time to time the “Holder”) from time 

  
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to time encumbering the Premises, whether executed and delivered prior to or subsequent to the date of this Lease, unless the Holder shall elect otherwise provided that the Holder thereof enters
into an agreement with Tenant in recordable form by the terms of which the Holder will agree, unless a Default of Tenant has occurred and remains uncured by Tenant beyond applicable grace periods, (1) not to disturb the rights of Tenant under
this Lease and (2) to accept Tenant as tenant of the Premises under the terms and conditions of this Lease in the event of acquisition of the Premises by such Holder through foreclosure proceedings or otherwise, which agreement shall also
contain subordination and attornment provisions consistent with the provisions of this ARTICLE 14, it being agreed that such agreement shall be at the election of the Holder either (i) in a form with terms consistent with this
ARTICLE 14 as reasonably agreed to by Tenant and such Holder or (ii) in the form attached hereto as Exhibit F. If this Lease is subordinate to any Mortgage and the Holder or any other party shall succeed to the interest of Landlord
pursuant to the Mortgage (such Holder or other party, a “Successor”), at the election of the Holder or Successor, Tenant shall attorn to the Holder or Successor and this Lease shall continue in full force and effect between the
Holder or Successor and Tenant. Tenant agrees to execute such instruments of subordination or attornment in confirmation of the foregoing agreement as the Holder or Successor reasonably may request. 

14.2 Notice to Mortgagee. After receiving notice from Landlord of any Holder of a Mortgage which includes the Premises, no
notice from Tenant to Landlord alleging any default by Landlord shall be effective unless and until a copy of the same is given to such Holder (provided Tenant shall have been furnished with the name and address of such Holder), and the curing of
any of Landlord’s defaults by such Holder shall be treated as performance by Landlord. 
 14.3 Assignment of Rents and Transfer
of Title. 
 (a) With reference to any assignment by Landlord of Landlord’s interest in this Lease, or the rents payable
hereunder, conditional in nature or otherwise, which assignment is made to the Holder of a Mortgage on property which includes the Premises, Tenant agrees that the execution thereof by Landlord, and the acceptance thereof by the Holder of such
Mortgage shall never be treated as an assumption by such Holder of any of the obligations of Landlord hereunder unless such Holder shall, by notice sent to Tenant, specifically otherwise elect and, except as aforesaid, such Holder shall be treated
as having assumed Landlord’s obligations hereunder only upon foreclosure of such Holder’s Mortgage and the taking of possession of the Premises. 

(b) In the event of the acquisition of Landlord’s interest in the Property by a purchaser which, simultaneously therewith, leases
Landlord’s entire interest in the Property back to the seller, the Tenant shall look solely to such seller-lessee, and its successors from time to time in title, for performance of Landlord’s obligations hereunder. In any such event, this
Lease shall be subject and subordinate to the lease to such purchaser. Tenant shall execute any and all documents necessary to memorialize such subordination. For all purposes, such seller-lessee, and its successors in title, shall be the Landlord
hereunder unless and until Landlord’s position shall have been assumed by such purchaser-lessor. 
 (c) Except as provided in
paragraph (b) of this Section, in the event of any transfer of title to the Property by Landlord, Landlord shall thereafter be entirely freed and 

  
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relieved from the performance and observance of all covenants and obligations hereunder from the date of transfer. 

ARTICLE 15 
 DEFAULT;
REMEDIES 
 15.1 Tenant’s Default. 

(a) If at any time subsequent to the date of this Lease any one or more of the following events (each a “Default”) shall
happen: 
 (i) Tenant shall fail to pay the Basic Rent or Additional Rent hereunder when due and such failure shall continue
for ten (10) days after written notice to Tenant from Landlord provided, however, Tenant shall not be entitled to notice more than twice (2) in any calendar year; or 

(ii) Tenant shall neglect or fail to perform or observe any other material covenant herein contained on Tenant’s part to
be performed or observed and Tenant shall fail to remedy the same within thirty (30) days after notice to Tenant specifying such neglect or failure, or if such failure is of such a nature that Tenant cannot reasonably remedy the same within
such thirty (30) day period, Tenant shall fail to commence promptly (and in any event within such thirty (30) day period) to remedy the same and to prosecute such remedy to completion with diligence and continuity (and in any event, within
ninety (90) days after the notice described in this subparagraph (ii)); or 
 (iii) Tenant’s leasehold
interest in the Premises shall be taken on execution or by other process of law directed against Tenant; or 
 (iv) Tenant
shall make a general assignment for the benefit of creditors or shall be adjudicated insolvent, or shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for
itself under any present or future Federal, State or other statute, law or regulation for the relief of debtors (other than the Bankruptcy Code, as hereinafter defined), or shall seek or consent to or acquiesce in the appointment of any trustee,
receiver or liquidator of Tenant or of all or any substantial part of its properties, or shall admit in writing its inability to pay its debts generally as they become due; or 

(v) The filing of a voluntary petition by Tenant, or the entry of an order for relief against Tenant under Chapter 7, 11, or 13
of the Bankruptcy Code, U.S.C. §101, et. seq., shall occur with respect to Tenant; or 
 (vi) A petition
shall be filed against Tenant under any law (other than the Bankruptcy Code) seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future Federal, State or other statute,
law or regulation and shall remain undismissed or unstayed for an aggregate of sixty (60) days (whether or not consecutive), or if any 

  
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trustee, conservator, receiver or liquidator of Tenant or of all or any substantial part of its properties shall be appointed without the consent or acquiescence of Tenant and such appointment
shall remain unvacated or unstayed for an aggregate of sixty (60) days (whether or not consecutive); or 
 (vii) If:
(x) Tenant shall fail to pay the Basic Rent or Additional Rent hereunder when due or shall fail to perform or observe any other covenant herein contained on Tenant’s part to be performed or observed and Tenant shall cure any such
failure within the applicable grace period set forth in clauses (i) or (ii) above; or (y) a Default of Tenant of the kind set forth in clauses (i) or (ii) above shall occur and Landlord shall, in its sole discretion,
permit Tenant to cure such Default of Tenant after the applicable grace period has expired; and the same or a similar failure shall occur more than once within the next 365 days (whether or not such similar failure is cured within the
applicable grace period); 
 then in any such case Landlord may terminate this Lease as hereinafter provided. 

15.2 Landlord’s Remedies. 

(a) Upon the occurrence of a Default of Tenant, Landlord may terminate this Lease by notice to Tenant, specifying a date not less than five
(5) days after the giving of such notice on which this Lease shall terminate and this Lease shall come to an end on the date specified therein as fully and completely as if such date were the date herein originally fixed for the expiration of
the Term of this Lease, and Tenant will then quit and surrender the Premises to Landlord in the condition required herein, but Tenant shall remain liable as hereinafter provided. 

(b) If this Lease shall have been terminated as provided in this Article, then Landlord may re-enter the Premises, either by summary
proceedings, ejectment or otherwise, and remove and dispossess Tenant and all other persons and any and all property from the same. 
 (c)
If this Lease shall have been terminated as provided in this Article, Tenant shall pay Rent hereunder up to the time of such termination, and thereafter Tenant, until the end of what would have been the Term of this Lease in the absence of such
termination, when the Premises shall have been relet and Landlord shall use best efforts to relet the Premises. Tenant shall be liable to Landlord for, and shall pay to Landlord, as liquidated current damages: (x) the Rent hereunder if
such termination had not occurred, less the net proceeds, if any, of any reletting of the Premises, after deducting all reasonable expenses in connection with such reletting, including, without limitation, all repossession costs, brokerage
commissions, legal expenses, attorneys’ fees, advertising, expenses of employees, alteration costs and expenses of preparation for such reletting. Tenant shall pay the portion of such current damages referred to in clause (x) above
to Landlord monthly on the days which the Basic Rent would have been payable hereunder if this Lease had not been terminated, and Tenant shall pay the portion of such current damages referred to in clause (x) above to Landlord upon such
termination. 
 (d) At any time after termination of this Lease as provided in this Article, whether or not Landlord shall have collected
any such current damages, as liquidated final damages and in lieu of all such current damages beyond the date of such demand, at Landlord’s 

  
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election Tenant shall pay to Landlord an amount equal to the excess, if any, of the Rent (including Taxes, Operating Expenses and other charges payable under this Lease) which would be payable
hereunder from the date of such demand assuming that, for the purposes of this paragraph, annual payments by Tenant on account of Taxes and Operating Expenses would be the same as the payments required for the immediately preceding Operating Year or
Tax Year for what would be the then unexpired Term of this Lease if the same remained in effect, over the then fair net rental value of the Premises for the same period. 

(e) In case of any Default of Tenant, re-entry, expiration and dispossession by summary proceedings or otherwise, Landlord shall (i) use
best efforts to relet the Premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms which may at Landlord’s option be equal to, less than, or in excess of the period which would otherwise have
constituted the balance of the Term of this Lease and may grant concessions or free rent to the extent that Landlord considers necessary or advisable to relet the same, and (ii) may make such alterations, repairs and decorations in the Premises
as Landlord considers necessary or advisable for the purpose of reletting the Premises; and the making of such alterations, repairs and decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Tenant
hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed, or in the event of Landlord obtaining possession of the Premises, by reason of the
violation by Tenant of any of the covenants and conditions of this Lease. 
 15.3 Additional Rent. As referred to in
Section 15.1 and notwithstanding any other provision of this Lease to the contrary, if Tenant shall fail to pay when due Additional Rent, Landlord shall have the same rights and remedies as Landlord has hereunder for Tenant’s
failure to pay Basic Rent. 
 15.4 Remedying Defaults. Landlord shall have the right, but shall not be required, to pay such
sums or do any act which requires the expenditure of monies which may be necessary or appropriate by reason of the failure or neglect of Tenant to perform any of the provisions of this Lease, and in the event of the exercise of such right by
Landlord, Tenant agrees to pay to Landlord forthwith upon demand all such sums, together with interest thereon per annum at a rate equal to 3% over the prime rate in effect from time to time at Fleet National Bank (but in no event greater than the
maximum lawful rate), as Additional Rent. Any payment of Basic Rent and Additional Rent payable hereunder not paid when due shall, at the option of Landlord, bear interest per annum at a rate equal to 3% over the prime rate in effect from time to
time at Fleet National Bank (but in no event greater than the maximum lawful rate) from the due date thereof and shall be payable forthwith on demand by Landlord, as Additional Rent. 

15.5 Remedies Cumulative. The specified remedies to which Landlord and Tenant may resort hereunder are not intended to be
exclusive of any remedies or means of redress to which Landlord or Tenant may at any time be entitled lawfully, and Landlord or Tenant may invoke any remedy (including the remedy of specific performance) allowed at law or in equity as if specific
remedies were not herein provided for. 

  
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 15.6 Attorneys’ Fees. Reasonable attorneys’ fees and expenses incurred in
enforcing any rights hereunder or occasioned by any default hereunder shall be paid by the prevailing party. 
 15.7 Waiver.

 (a) Failure on the part of Landlord or Tenant to complain of any action or non-action on the part of the other, no matter how long the
same may continue, shall never be a waiver by Tenant or Landlord, respectively, of any of their respective rights hereunder. Further, no waiver at any time of any of the provisions hereof by Landlord or Tenant shall be construed as a waiver of any
of the other provisions hereof, and a waiver at any time of any of the provisions hereof shall not be construed as a waiver at any subsequent time of the same provisions. The consent or approval of Landlord or Tenant to or of any action by the other
requiring such consent or approval shall not be construed to waive or render unnecessary Landlord’s or Tenant’s consent or approval to or of any subsequent similar act by the other. 

(b) No payment by Tenant, or acceptance by Landlord, of a lesser amount than shall be due from Tenant to Landlord hereunder shall be treated
otherwise than as a payment on account of the earliest installment of any payment due from Tenant hereunder. The acceptance by Landlord of a check for a lesser amount with an endorsement or statement thereon, or upon any letter accompanying such
check, that such lesser amount is payment in full, shall be given no effect, and Landlord may accept such check without prejudice to any other rights or remedies which Landlord may have against Tenant. 

15.8 Landlord’s Default. Landlord shall in no event be in default under this Lease unless Landlord shall neglect or fail to
perform any of its obligations hereunder and shall fail to remedy the same within thirty (30) days after notice to Landlord specifying such neglect or failure, or if such failure is of such a nature that Landlord cannot reasonably remedy the
same within such thirty (30) day period, Landlord shall fail to commence promptly (and in any event within such thirty (30) day period) to remedy the same and to prosecute such remedy to completion with diligence and continuity. 

ARTICLE 16 

MISCELLANEOUS PROVISIONS 

16.1 Rights of Access. Landlord shall have the right to enter the Premises at all reasonable hours upon at least twenty-four
(24) hour’s notice to Tenant, except in case of emergency when no notice shall be required, for the purpose of inspecting the Premises, doing maintenance or making repairs or otherwise exercising its rights or fulfilling its obligations
under this Lease, and Landlord also shall have the right to make access available at all reasonable hours to prospective or existing (i) mortgagees, (ii) purchasers, (iii) inspections by governmental officials, or (iv) during the
last nine (9) months of the Term, tenants of any part of the Property. During any such entry into the Premises, Landlord shall take reasonable steps to minimize interference with the conduct of Tenant’s business. 

16.2 Covenant of Quiet Enjoyment. Subject to the terms and conditions of this Lease, on payment of the Rent and observing,
keeping and performing all of the other terms and 

  
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conditions of this Lease on Tenant’s part to be observed, kept and performed, Tenant shall lawfully, peaceably and quietly enjoy the Premises and all Common Facilities during the Term
hereof, without hindrance or ejection by any persons lawfully claiming under Landlord to have title to the Premises superior to Tenant. The foregoing covenant of quiet enjoyment is in lieu of any other covenant, express or implied. 

16.3 Landlord’s Liability. 

(a) Tenant agrees to look solely to Landlord’s equity interest in the Property at the time of recovery for recovery of any judgment
against Landlord, and agrees that neither Landlord nor any successor of Landlord shall be personally liable for any such judgment, or for the payment of any monetary obligation to Tenant. The provision contained in the foregoing sentence is not
intended to, and shall not, limit any right that Tenant might otherwise have to obtain injunctive relief against Landlord or any successor of Landlord, or to take any action not involving the personal liability of Landlord or any successor of
Landlord to respond in monetary damages from Landlord’s assets other than Landlord’s equity interest in the Property. 
 (b) In no
event shall Landlord ever be liable to Tenant for any loss of business or any other indirect or consequential damages suffered by Tenant from whatever cause. 

(c) Where provision is made in this Lease for Landlord’s consent, and Tenant shall request such consent, and Landlord shall fail or
refuse to give such consent, Tenant shall not be entitled to any damages for any withholding by Landlord of its consent, it being intended that Tenant’s sole remedy shall be an action for specific performance or injunction, and that such remedy
shall be available only in those cases where Landlord has expressly agreed in writing not to unreasonably withhold its consent. Furthermore, whenever Tenant requests Landlord’s consent or approval (whether or not provided for herein), Tenant
shall pay to Landlord, on demand, as Additional Rent, any reasonable expenses incurred by Landlord (including without limitation reasonable attorneys’ fees and costs, if any) in connection therewith. 

(d) Any maintenance, repairs or restoration required or permitted to be made by Landlord under this Lease may be made during normal business
hours, and Landlord shall have no liability for damages to Tenant for inconvenience, annoyance or interruption of business arising therefrom, but Landlord shall take reasonable steps to minimize interference with Tenant’s business in connection
therewith. 
 16.4 Estoppel Certificate. Each party shall, at any time and from time to time, upon not less than fifteen
(15) Business Days prior written notice by Landlord the other, execute, acknowledge and deliver to Landlord an estoppel certificate containing such statements of fact as Landlord such other party reasonably requests. 

16.5 Brokerage. Landlord and Tenant warrants and represents to each other that neither Party has dealt with no broker in
connection with the consummation of this Lease. 
 16.6 Rules and Regulations. Tenant shall abide by the Rules and Regulations
from time to time established by Landlord, it being agreed that such Rules and Regulations will be established and applied by Landlord in a non-discriminatory fashion, such that all Rules and Regulations shall be generally applicable to other
tenants of the Building of similar nature to the 

  
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Tenant named herein. Landlord agrees to use reasonable efforts to insure that any such Rules and Regulations are uniformly enforced, but Landlord shall not be liable to Tenant for violation of
the same by any other tenant or occupant of the Building, or persons having business with them. In the event that there shall be a conflict between such Rules and Regulations and the provisions of this Lease, the provisions of this Lease shall
control. The Rules and Regulations currently in effect are set forth in Exhibit D. 
 16.7 Invalidity of Particular
Provisions. If any term or provision of this Lease, or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the remainder of this Lease, or the application of such term or provision to
persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of this Lease shall be valid and be enforced to the fullest extent permitted by law. 

16.8 Provisions Binding, Etc. Except as herein otherwise provided, the terms hereof shall be binding upon and shall inure to the
benefit of the successors and assigns, respectively, of Landlord and Tenant (except in the case of Tenant, only such successors and assigns as may be permitted hereunder) and, if Tenant shall be an individual, upon and to his heirs, executors,
administrators, successors and permitted assigns. Each term and each provision of this Lease to be performed by Tenant shall be construed to be both a covenant and a condition. Any reference in this Lease to successors and assigns of Tenant shall
not be construed to constitute a consent by Landlord to such assignment by Tenant. 
 16.9 Recording. Each party hereto
agrees, on the request of the other, to execute a notice of lease in substantially the form attached hereto as Exhibit E, or such other form as may be mandated by the state and/or county in which the Property is located. 

16.10 Notice. All notices or other communications required hereunder shall be in writing and shall be deemed duly given
if delivered in person (with receipt therefor), if sent by reputable overnight delivery or courier service (e.g., Federal Express) providing for receipted delivery, or if sent by certified or registered mail, return receipt requested, postage
prepaid, to the following address: 
 (a) if to Landlord at Landlord’s Address, to the attention of Michael L. Pierce. 

(b) if to Tenant, at Tenant’s Address, to the attention of Steven Lockard, 373 Market Street, Warren, RI 02885. 

Receipt of notice or other communication shall be conclusively established by either (i) return of a return receipt indicating that the
notice has been delivered; or (ii) return of the letter containing the notice with an indication from the courier or postal service that the addressee has refused to accept delivery of the notice. Either party may change its address for the
giving of notices by notice to the other party given in accordance with this Section. 
 16.11 When Lease Becomes Binding; Entire
Agreement; Modification. The submission of this document for examination and negotiation does not constitute an offer to lease, or a reservation of, or option for, the Premises, and this document shall become effective and binding only upon
the execution and delivery hereof by both Landlord and Tenant. This 

  
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Lease may be modified or altered only by written agreement between Landlord and Tenant, and no act or omission of any Agent of Landlord shall alter, change or modify any of the provisions hereof.

 16.12 Headings and Interpretation of Sections. The article, section and paragraph headings throughout this instrument are
for convenience and reference only, and the words contained therein shall in no way be held to explain, modify, amplify or aid in the interpretation, construction or meaning of the provisions of this Lease. The provisions of this Lease shall be
construed as a whole, according to their common meaning (except where a precise legal interpretation is clearly evidenced), and not for or against either party. Use in this Lease of the words “including,” “such as,” or words of
similar import, when followed by any general term, statement or matter, shall not be construed to limit such term, statement or matter to the specified item(s), whether or not language of non-limitation, such as “without limitation” or
“including, but not limited to,” or words of similar import, are used with reference thereto, but rather shall be deemed to refer to all other terms or matters that could fall within a reasonably broad scope of such term, statement or
matter. 
 16.13 Dispute Resolution. In the event of a dispute between Landlord and Tenant pursuant to this Lease (other than
a dispute relating to the payment of Rent) the parties agree that prior to pursuing other available remedies (excluding giving notices of default), they will attempt to directly negotiate resolution of their dispute. If negotiation is unsuccessful,
then they agree to participate in at least three (3) hours of mediation to be facilitated by a mediator mutually acceptable to them under the mediation procedures set by the mediator. The mediation session shall be conducted within thirty
(30) days of the date on which the mediator receives the request to mediate. The costs of such mediation shall be shared equally by the parties. 

16.14 Time Is of the Essence. Time is of the essence of each provision of this Lease. 

16.15 Multiple Counterparts. This Lease may be executed in multiple counterparts, each of which shall be deemed an original and
all of which together shall constitute one and the same document. 
 16.16 Governing Law. This Lease shall be governed by the
laws of the state in which the Property is located. 
 [Remainder of page intentionally left blank] 

  
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 IN WITNESS WHEREOF, Landlord and Tenant have caused this Lease to be duly executed, under
seal, by persons hereunto duly authorized, as of the date first set forth above. 
  

			
	LANDLORD:
	
	 TN REALTY, LLC
 d/b/a IN RHODE
ISLAND AS

	TRUE NORTH REALTY, LLC
		
	By:	 	 /s/ Michael L. Pierce

	Name:	 	Michael L. Pierce
	Title:	 	Manager
	
	TENANT:
	
	COMPOSITE SOLUTIONS, INC.
		
	By:	 	 /s/ Steven Lockard

	Name:	 	Steven Lockard
	Title:	 	President

  
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 LEASE MODIFICATION AND EXTENSION AGREEMENT 

THIS LEASE MODIFICATION AND EXTENSION
AGREEMENT (“AGREEMENT”) is made this 16 day of June, 2010 by and between TN REALTY, LLC (“Landlord”) and COMPOSITE
SOLUTIONS, INC. (“Tenant”). 
 RECITALS 

WHEREAS, Landlord and Tenant entered into a Lease Agreement dated October 1, 2004 (the
“Lease”) wherein Landlord leased to Tenant a portion of the building located at 373 Market Street, Warren, Rhode Island (the “Building”), consisting of 60,090 square feet (“Premises”); 

WHEREAS, Tenant desires to lease an additional 31,297 square feet of space in the Building,
(“Additional Space”) commencing July 1, 2010. 
 WHEREAS, pursuant to
Section 4.2 of the Lease, by written notice dated March 30, 2007, Tenant exercised its option to extend the Lease for an additional five (5) year term commencing October 1, 2009 and expiring on September 30, 2014
(“Renewal Term”); 
 WHEREAS, the Tenant has requested that in consideration of
the Tenant leasing Additional Space, that the Landlord grant to the Tenant one (1) additional five (5) year option to extend the term of the Lease; and 

WHEREAS, the Landlord and the Tenant desire to modify the Lease on the terms and conditions
set forth herein. 
 NOW, THEREFORE, for good and valuable consideration, the adequacy
and sufficiency of which is hereby acknowledged, the Landlord and the Tenant agree as follows: 
 1. Lease of Additional Space: Commencing
on July 1, 2010, the Landlord will lease to the Tenant and the Tenant will lease from the Landlord, the Additional Space. From and after June 1, 2010, Premises shall mean and include the space identified on Exhibit A, attached hereto as
both the “TPI Original Lease” and the “New TPI Space” on the first and second floors, consisting of 91,387 square feet (the “Tenant’s Space”). The Tenant’s Space means and includes both the Premises and the
Additional Space. The parties agree that from and after July 1, 2010 any reference in the Lease to Premises shall mean and include Tenant’s Space as delineated on Exhibit A attached hereto. 

2. Demising Wall: The Landlord agrees to erect, at Landlord’s expense, a floor to ceiling wall barrier as a “Demising Wall” in
the location designated on Exhibit A between the areas marked “Bay 2” and “Bay 3.” The construction of the Demising Wall shall be performed in accordance with all applicable laws, rules, codes and regulations and shall consist of
a solid wall with access doors between the bays capable of being locked. Tenant reserves the right in its sole discretion to lock any of the doors that allow access to Tenant’s Space, including the doors

  
 1 

 
that allow access to Tenant’s Space from the office area on the second floor currently occupied by Pearson Composites, LLC. 

Landlord must complete construction of the Demising Wall either by December 31, 2010 or before any new tenant begins to occupy space in
the Premises, whichever occurs first. In the event that Landlord fails to install the Demising Wall by either December 31, 2010 or before any new tenant occupies the Premises, and provided that any such failure is not the result of a building
or fire code prohibition, Tenant shall have the right to install such Demising Wall, subject to all building and fire code rules and regulations, and upon receipt by Landlord of reasonable evidence of Tenant’s out-of-pocket expenses for such
installation, Landlord shall either reimburse Tenant for such out-of-pocket expenses or credit the amount of such out-of-pocket expenses toward Tenant’s Basic Rent, as amended below in Section 4. 

3. Improvement Costs and Other Expenses to the New Carpentry Shop and Existing Machine Shop Locations: In addition to the Demising Wall
improvements set forth in Section 2 above, Landlord agrees to cover the following improvement costs and other expenses to the new Carpentry Shop and existing Machine Shop locations that are designated on Exhibit A: 

 

	 	a.	Landlord shall cover the cost and expense of removing and transferring the Tenant’s machine shop equipment from the current Machine Shop location designated on Exhibit A and installing such equipment in a mutually
agreed upon space located underneath the office area in Bay 3 reflected on Exhibit A. 

  

	 	b.	Landlord shall also cover the cost and expense of moving the stairwell currently located in the Carpenter Shop area designated on Exhibit A. 

 

	 	c.	In the event Tenant elects, or is required by ordinance, law or regulation, to install any new exhaust equipment in the Machine Shop location designated on Exhibit A, Tenant agrees to cover the costs and expenses for
such installation. 

  

	 	d.	If, however, Landlord or any new tenant in the Premises elects to install any new exhaust equipment in the Machine Shop, or requires Tenant to do so as part of this Lease, Landlord shall pay for any and all costs or
expenses associated with such installation. 

 For Items 3a., 3b, and 3d described in this Section 3, Tenant shall
undertake and perform such work required at its expense and shall deduct all such expenses from the Basic Rent it is required to pay, as described below in Section 4, in equal installments over a three (3) month period following completion
of the work. All such work shall be performed in accordance with applicable laws, rules, codes and regulations. Upon reasonable notice, Landlord shall have the right to inspect all of the documentation and support for the improvement costs it is
required to cover, as described herein. 
 4. Basic Rent For Renewal Term: The Basic Rent for the Tenant’s Space for the

  
 2 

 
Renewal Term shall be as follows: 
  

													
	 Year
	  	Rent/sq. ft.	 	  	Annual Basic Rent	 	  	Monthly Installment	 
	 1 (07/01/2010-05/31/2011)
	  	$	3.19	  	  	$	291,525	  	  	$	24,294	  
	 2 (06/01/11-05/31/2012)
	  	$	3.28	  	  	$	299,749	  	  	$	24,979	  
	 3 (06/01/2012-05/31/2013)
	  	$	3.38	  	  	$	308,888	  	  	$	25,741	  
	 4 (06/01/2013-05/31/2014)
	  	$	3.48	  	  	$	318,027	  	  	$	26,502	  
	 5 (06/01/2014-05/31/2015)
	  	$	3.59	  	  	$	328,079	  	  	$	27,340	  

 The Basic Rent shall be monthly, in advance, on the first day of each month, in the amount set forth above in accordance with
the applicable provisions of the Lease 
 5. Definition Amendments: The following definitions set forth in Section 1.1 shall be amended
as hereinafter set forth: 
 (a) The definition of Building Rental Area is hereby amended to read 236,622 square feet. 

(b) The definition of Premises Rentable Area is hereby amended to read 91,387 

(c) The definition of Tenant’s Proportionate Share is hereby amended to read 38.62%. The Tenant’s Proportionate Share is subject to
adjustment if the numerator (Tenant’s Space) or the denominator (Building Rental Area) shall change during the Term, including but not limited to the expansion of the Building. 

(d) The definition of Outside Storage Space is hereby amended to read that certain portion of the property on which the Building is located
designated as “Tenant’s Outdoor Storage Space” on Exhibit B, attached hereto and incorporated herein. At Tenant’s expense, tenant’s Outdoor Storage Space shall be physically partitioned by wall, fence or other suitable means
from the Outdoor Storage Space used by other tenants of the Building. 
 (e) The definition of Term is hereby amended to include the Renewal
Term. 
 (f) The definition of Shared Building Area is hereby deleted. The Tenant acknowledges that with the inclusion of the Additional
Space, the tenant does not share any portion of the Building with other tenants located in the Building. 
 (g) The following definition
shall be added to Section 1.1 of the Lease: 
 “Tenant’s Parking Area” shall mean that certain area located on the
northerly side of the Building designated as tenant’s Parking Area on Exhibit B. 
 6. Option to Extend the Term: Provided Tenant is
not in default under any of the terms of the Lease, as amended, the Tenant shall have one (1) five (5) year option to extend the 

  
 3 

 
Term of this Lease (“Extension Option”) commencing on June 1, 2015 and expiring on May 31, 2020 (“Extension Term”). If the Tenant desires to exercise its right to
extend the Term of this Lease for the Extension Term, then it must notify the Landlord, in writing, of its election not earlier than April 1, 2013 nor later than June 1, 2014. In the event the Tenant does not provide the Landlord with
written notice of its election to exercise its right to extend the Term of this Lease by June 1, 2014, then this Extension Option shall be null and void. In the event that the Tenant does exercise its right to extend the Term of this Lease by
providing written notice thereof to the Landlord no later than June 1, 2014, then this Lease, as amended, shall be upon all the same terms, covenants and conditions as the original Term, except as to Basic Rent for the Extension Term, which
shall be determined as follows: 
 The Basic Rent for the Extension Term shall be the greater of (i) the Annual Basic Rent charged for
the last year of the Term ($3.59/sq. ft.), or (ii) the Fair Market Rent (as defined below) at the time of the commencement of the Extension Term. The Annual Basic Rent shall increase annually by a percentage equal to customary fair market
increases for rentable commercial space in the area on each anniversary date during the Extension Term. 
 As used herein, the term
“Fair Market Rent” means the Basic Rent as determined: (i) by agreement between Landlord and Tenant, negotiating in good faith, no later than thirty (30) days after Tenant’s timely exercise of the Extension Option (and
Landlord shall not be required to so negotiate prior to such date), or (ii) if Landlord and Tenant shall not have agreed upon the Fair Market Rent within thirty (30) days thereafter (an “Impasse”), the Fair Market Rent for the
Extension Term shall be fixed by means of an Appraisers’ Determination as more particularly described in Exhibit F to the original Lease. 

7. Section 2.2 (c) of the Lease is hereby deleted in its entirety and replaced with the following: 

“Tenant shall use for its employees, guests and invitees parking the Tenant Parking Area designated on Exhibit B. Tenant shall be
entitled to use for outside storage only, subject to the provisions of the Lease, as amended, and the Rules and Regulations, the area designated on Exhibit B, as the Outdoor Storage Space. Tenant shall be responsible to insure, in accordance with
Section 11.3 and 11.4 of the Lease, the Outdoor Storage Space and shall pay any Operating Expenses incurred as a result of Tenant’s use of said Outdoor Storage Space.” 

8. Section 8.1 of the Lease is hereby modified by deleting the second sentence of said section and inserting the following language in
lieu thereof: “As used herein, the term “Structure” means load bearing portions of the walls, columns, beams, footings and the roof, in each case necessary to preserve the load bearing capacity thereof, and including all life safety,
fire sprinkler, HVAC, plumbing, mechanical and electrical systems located in the Building (including any dust collection equipment and vacuum systems and any other equipment or systems located within the Premises, or located elsewhere on the
Property to the extent such HVAC equipment or systems serve the Premises and is not specific to Tenant’s business). Landlord shall be responsible for maintaining and repairing the HVAC that services the Building

  
 4 

 
(subject to Tenant’s reimbursement through Operating Expenses) and not for any HVAC that is specific to Tenant’s Premises.” 

The last paragraph of Section 8.1 shall also be amended, as follows: 

“Landlord shall also, to the extent practicable (i) keep all Common Facilities reasonably free of snow, and (ii) keep and
maintain the parking lot and all landscaped areas on the Property in a neat and orderly condition. As used herein, the term “Common Facilities” means the Land and the structure, collectively.” 

9. Section 8.2 (a) of the Lease is hereby modified by adding the following language at the end of Section 8.2 (a): “In
addition, Tenant, at its sole cost and expense, shall be responsible for the Premises’ windows, doors and related hardware and plate glass, normal wear and tear excluded.” 

10. Section 8.3 (b) of the Lease is hereby modified and the following language is inserted at the end of the paragraph “and
further provided that Landlord shall in no event be in default in the performance of any of Landlord’s obligations hereunder unless and until Landlord shall have failed to perform such obligations within thirty (30) days or such additional
time as is reasonably required to correct any such default after notice by Tenant to Landlord properly specifying wherein Landlord has failed to perform any such obligation.” 

11. Section 8.4 of the Lease is hereby modified by inserting the following language at the end of the paragraph “Landlord has the
right to sub meter any of the above referenced connections to the Tenant’s Space and any and all costs of separating these utilities, including an connection or tap fees, shall be allocated between the Tenant and the other tenants in the
Building.” 
 12. Section 10.2(b) of the Lease is hereby modified by deleting the third sentence thereof and inserting the
following language in lieu thereof: “Within one hundred twenty (120) days after the end of each calendar year, Landlord shall submit to Tenant a reasonably detailed accounting of Operating Expenses for the prior Operating Year, and
Landlord shall certify to the accuracy thereof.” 
 13. Section 11.1 of the Lease is hereby modified by inserting the following
language after the words “outside of the” on the fifth line down: “Tenant’s Space or Outside Storage Space (whether inside or outside of the Building),” 

14. Section 15.4 of the Lease is hereby amended by deleting any references to “Fleet National Bank” and inserting the term
“The Wall Street Journal” in lieu thereof. 
 15. Section 15.6 of the Lease is hereby deleted in its entirety and the
following 

  
 5 

 
language is inserted in lieu thereof: 
 “Attorney’s Fees. Reasonable
attorneys’ fees and expenses incurred in enforcing any rights hereunder or occasioned by any default hereunder shall be paid to the prevailing party.” 

16. Except as modified by this Agreement, the parties do hereby ratify and affirm the Lease in all respects. 

[signatures appear on the next page] 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have
set their hands on the day and year set forth above. 
  

									
	LANDLORD:	 		 	TENANT:
			
	TN REALTY, LLC	 		 	COMPOSITE SOLUTIONS, INC.
					
	By:	 	 /s/ Pat Burke
	 		 	By:	 	 /s/ Ed da Silva

	By:	 	  
	 		 	By:	 	  

	Its duly authorized CEO	 		 		 	 Its duly authorized officer

VP/GENERAL MANAGER

  
 7EX-10.18

 Exhibit 10.18 

This LEASE AGREEMENT is entered into on this 15 day of April of the year 2013, between: 

 

	 	(1)	Deutsche Bank Mexico. S.A., Institucion de Banca Multiple, Division Fiduciaria, as Trustee of Trust F/1638 (hereinafter referred to as the “Lessor”) hereby represented by its attorney-in-fact Macquarie
Mexico Real Estate Management, S.A. de C.V. acting through its attorneys-in-fact; and 

  

	 	(2)	TPI-Composites, S. de R.L. de C.V. (hereinafter referred to as “Lessee”). 

Pursuant to the following Recitals and Clauses: 

R E C I T A L S 
  

	I.-	Lessor represents that: 

 (a) It is a multiple purpose banking institution, duly organized and
existing under the laws of Mexico. 
 (b) That its attorney-in-fact has all necessary powers and authorities to execute this agreement, and
that the attorneys-in-fact acting on behalf of its attorney-in-fact, have all necessary powers and authorities to act on such attorney-in-fact’s behalf in executing this agreement, which powers and authorities have not been revoked, limited, or
restricted in any manner whatsoever as of this date. 
 (c) It is the legitimate owner of the Leased Property (as such term is defined
herein below). 
 (d) It is willing to grant the Leased Property under lease to Lessee, subject to the terms and conditions of this
Agreement. 
  

	II.-	Lessee represents as follows: 

 (a) That it is a limited liability company of variable capital,
duly organized and existing under the laws of Mexico. 
 (b) Its legal representative has sufficient authority to execute this Agreement,
such authority not having been limited nor revoked in any manner whatsoever as of this date, and has the full legal capacity to bind Lessee under the terms of this Agreement. 

(c) Lessee’s execution, delivery and performance hereof are included within its corporate purpose, and have been duly authorized by means
of all necessary corporate acts and are not contrary to (i) its by-laws currently in force, or (ii) any regulatory or contractual provision binding or affecting it. 

 (d) It is aware of the current state and condition of the Leased Property and is willing to lease
the Leased Property from Lessor on an “as is” conditions and under the terms of this Agreement. 
 NOW THEREFORE, in
consideration of the foregoing Recitals and in agreement with the execution hereof, the Parties hereto agree as follows: 
 C L A U S E
S 
 CLAUSE FIRST 

DEFINITIONS 

Section 1.01. Definitions. The terms defined below shall have under this Contract, the meanings assigned to them under this
Section, and said meanings shall be applicable to both the singular and plural form of such terms: 
 (1) “Lessor” means
Deutsche Bank Mexico, S.A., Institucion de Banca Multiple, Division Fiduciaria, as Trustee of Trust F/1638. 
 (2) “Lessee”
means TPI-Composites, S. de R.L. de C.V.. 
 (3) “Change of Control” means any event by which (i) one or more
individuals or entities, acting jointly, directly or indirectly acquire title to the shares or equity quotas or any other securities representing more than 50% of the voting shares or equity quotas of Lessee or of any of its controlling companies;
or (ii) one or more individuals or entities, that acting jointly, execute an agreement or are parties to an agreement or contract which purpose is, or which results in the assumption of control of Lessee or any of its parent companies, allowing
them to exert control on Lessee or on any of its controlling companies’ management. 
 (4) “Contamination Condition”
means (i) activities in progress, actions or omissions in the Leased Property in breach of the Environmental Laws; (ii) Releases in or from the Leased Property; or (iii) any other condition or situation in the Leased Property that
pursuant to the Environmental Laws is considered as environmental contamination. 
 (5) “CPI” means the U.S. Bureau of
Labor Statistics Consumer Price Index for All Urban Consumers (CPI-U) U.S. City Average 1967=100, issued by the U.S. Bureau of Labor Statistics). 

(6) “Security Deposit” means (i) for the Space A an amount of $13,096.74 Dollars; and (ii) for Space B, in the
event Lessee exercises its Right of First Offer or Option to Lease, the amount of $38,350.48 Dollars. 
 (7) “Business Day”
means any day of the year, except for Saturdays and Sundays, on which national banks located in the City of Mexico, Federal District, Mexico, are required or authorized by law to carry out banking transactions. 

  
 2 

 (8) “Dollars” means the legal currency of the United States of America. 

(9) “Lessee’s Address” means Av. Ramon Rayon No. 9988, Ciudad Juarez, Chihuahua. 

(10) “Lessor’s Address” means Paseo de la Reforma 115, Piso 6, Col. Lomas de Chapultepec, 11000, Distrito Federal,
Mexico, with copy to Ave. Calzada del Valle Alberto Santos No. 205 Ote. Colonia del Valle, San Pedro Garza Garcia, Nuevo Leon 66220. 

(11) “Building” means the Industrial Facility and any other constructions located on the Land. 

(12) “Space A” means the surface of 34,839.76 square feet that is part of the Industrial Facility and is described in
Exhibit “A” of this Agreement. 
 (13) “Space B” means the surface of 98,327.79 square feet
that is part of the Industrial Facility and is described in Exhibit “A” of this Agreement. 
 (14)
“Commencement Date” means April 15, 2013. 
 (15) “Expiration Date” means April 14, 2014. 

(16) “Macquarie Mexican REIT” has the meaning assigned to such term in Section 2.04 hereof. 

(17) “Guarantor” means TPI Composites, Inc.. 

(18) “Guaranty” means the guaranty of Lessee’s obligations granted by the Guarantor in favor of Lessor. 

(19) “VAT” means the value added tax applicable in Mexico or any other tax or fiscal assessment substituting said value added
tax. 
 (20) “KVA” means Kilo Volt-Ampere. 

(21) “Environmental Laws” means all Mexican Laws, either federal, state or local, currently or subsequently in force,
governing or related to (i) health, safety, Environment and natural resources; (ii) air, water, soil and subsoil pollution control and prevention; (iii) discharges, releases or possible releases of noise, odors or any other Hazardous
Material to the Environment; (iv) the manufacturing, processing, generation, distribution, use, treatment, storage, disposal, cleaning, transportation or handling of pollutants and/or Hazardous Materials. 

  
 3 

 (22) “Laws” means (i) all laws, regulations, rules, norms, decrees,
recommendations, agreements, orders, resolutions, requirements, criteria, restrictions and codes, whether federal, state or local, applicable in Mexico and issued by any governmental, judicial or administrative authority; (ii) all international
treaties and agreements to which Mexico is a party of and which are applicable in Mexico; and (ii) the Environmental Laws. 
 (23)
“Release” means the release, spill, discharge, leak, emission, filtration, pumping, deposit, disposal, dispersion, stain or migration or release in any manner whatsoever, whether intentional or not, of any Hazardous Material,
through or in the air, soil, subsoil, surface water, underground water or property (including structures, buildings and constructions). 

(24) “Hazardous Materials” means any contaminating, hazardous, industrial, oil based, radioactive, corrosive, reactive,
explosive, flammable or infectious substance, material or toxic waste, either liquid, solid or gaseous, or any other component or derivative from said substances, material or waste, or any other substance, material or waste regulated, defined,
characterized or referred to in the Environmental Laws or which may adversely affect human health or the Environment, and shall also include the following substances: (i) Trichloroethylene (TCE); (ii) Perchloroethylene (PCE or PERC);
(iii) 1,1,1 Trichloroethane (TCA); (iv) Polychlorinated biphenyls (PCBs); (v) Pentachlorophenol; (vi) Perchlorate; and (vii) Hexavalent chromium and/or dichromates. 

(25) “Prohibited Hazardous Materials” shall have the meaning assigned to such term in Section 5.03 of Clause Fifth
hereof. 
 (26) “Environment” means the internal and external environment, including, but not limited to, air, surface
water, underground water (and in general all type of water and water bodies defined as such by the Environmental Laws and the Laws), as well as any land, wet land, living organisms (including plants, animals and human beings), sediments, soil,
surface layers and in general natural resources and environment and living environment. 
 (27) “Mexico” means the United
Mexican States. 
 (28) “Industrial Facility” means the building constructed on the Land and identified as CJS-JZ-08, which
has a total construction area of 133,167.55 square feet and which is described in Exhibit “A” of this Agreement. 

(29) “Pesos” means the legal currency of Mexico. 

(30) “Leased Property” means, collectively, the Land, the Fire Protection System and the Space A. In case Lessee exercise its
Right of First Offer or Option to Lease in terms of this Agreement, then, it shall mean jointly the entire Land (Lot B), the Fire Protection System and the Building. 

  
 4 

 (31) “Remediation” means all necessary actions or group of measures in
compliance with the Environmental Laws in order to: (i) clean, remove, remediate, treat, restore, contain, abate, cover or otherwise adjust pollutants and/or Hazardous Material to the internal or external environment; (ii) prevent or
control the Release of pollutants and/or Hazardous Material so that it does not escape, endanger or threaten public health or Environmental welfare; or (iii) carry out remediation studies, research, restorations and post-remediation studies (or
post-cleaning care), assessments, analysis, tests, and monitoring of in or on the Leased Property. 
 (32) “Rent” has the
meaning assigned to such term in Section 2.04 of Clause Second hereof. 
 (33) “Fire Protection System” has the
meaning assigned to such term in Section 10.01 of Clause Tenth hereof. 
 (34) “Term” shall mean, collectively, the
Initial Term and any renewal. 
 (35) “Initial Term” shall have the meaning assigned to such term in Section 2.03 of
Clause Second hereof. 
 (36) “Land” shall mean the land with a total surface area of approximately 33,898.51 square meters
over which the Building is constructed, identified as Lot B, located in Ciudad Juarez, Chihuahua, Mexico. 
 (37) “Permitted
Uses” shall mean those of manufacturing, assembling processes, storage of products and offices; provided that (i) they are permitted under the Laws, permits, licenses and regulations applicable to the Leased Property; and
(ii) they are referred to light and medium non-contaminating industrial operations. 
 CLAUSE SECOND 

LEASE 

Section 2.01. Lease and Lessor. Lessor hereby undertakes to grant Lessee on the Commencement Date, the temporary possession
and use of the Leased Property under lease, and Lessee hereby undertakes to use and enjoy the Leased Property under lease as of the Commencement Date pursuant to the provisions of this Agreement and the Laws. 

Section 2.02. Use. Lessee shall use the Leased Property only and exclusively for the Permitted Uses and in compliance with
the Laws. 
 Section 2.03. Term. The parties establish as mandatory term of lease of the Leased Property for Lessor and
Lessee, a term which shall commence on the Commencement Date and shall end on the Expiration Date (the “Initial Term”). 

Section 2.04. Rent. Lessee shall pay Lessor, for the lease of the Leased Property, a monthly rent of $0.3525 Dollars per
square feet of the Space A, that is, a monthly amount of $12,281.02 Dollars (the “Rent”), or its equivalent in Pesos at the exchange rate 

  
 5 

 
published by the Banco de Mexico in the Federal Official Gazette (to satisfy obligations denominated in foreign currency in Mexico) in effect on the payment date or on the immediately preceding
Business Day (in the event that the payment date is not a Business Day), plus VAT. 
 The Rent shall be paid in advance to Lessor or to
whomever Lessor designates in writing, within the first five (5) Business Days of each month at Lessor’s Domicile or at any other place that Lessor previously instructs Lessee in writing. 

In the event that Lessee defaults in the timely payment of the Rent pursuant to this Agreement, then Lessee shall pay to Lessor a penalty
interest charge equal to 1% (one percent) over the total amount of the monthly Rent per each day of default in the payment of the Rent. 

The parties expressly agree that Lessee shall neither deduct nor set off any amount from the payments of the Rent for any reason whatsoever.

 Lessor is currently a transparent trust for tax purposes, and the ultimate beneficiary of the payment obligations of Lessee under this
agreement is Deutsche Bank Mexico, S.A., Institution de Banca Multiple, as trustee of F/1622 FIBRA Macquarie Mexico (hereinafter referred to as “Macquarie Mexican REIT”), and, therefore, for so long as Lessor is a transparent trust
for tax purposes and the ultimate beneficiary of the payment obligations of Lessee under this agreement is Macquarie Mexican REIT, Lessor shall procure that Macquarie Mexican REIT issues to Lessee invoices for each payment to be received by Lessor
from Lessee hereunder, complying with all tax and legal requirements. 
 Section 2.05. Rent Increase. Having elapsed one
year from the Commencement Date and annually thereafter during the Term of this Agreement, the Rent shall be increased in 2.5%, without any further notice or communication between Lessor and Lessee. 

Section 2.06. Compliance with Laws. During the time Lessee occupies the Leased Property, Lessee shall be liable, at its own
cost and expense, for obtaining and maintaining effective and in full compliance each and ail authorizations, licenses, concessions and governmental permits that are required by the Laws to establish and to carry out Lessee’s business
operations in the Leased Property; in the understanding that, Lessee shall deliver a copy of said authorizations, licenses, concessions and permits to Lessor, upon written request by the latter made within five (5) Business Days after said
request. 
 CLAUSE THIRD 

LEASED PROPERTY 

Section 3.01. Property Tax. The parties agree that Lessor shall pay the property lax (Impuesto Predial) for the
Leased Property (entire Land and Building) and Lessee shall reimburse Lessor said payment, within fifteen (15) calendar days following the date 

  
 6 

 
of delivery of the corresponding payment receipt to Lessee; in the understanding that, upon reimbursement of the property tax by Lessee, Lessor shall procure that Macquarie Mexican REIT issues
and delivers to Lessee the corresponding invoice, which shall include the VAT to be paid by Lessee due to the issuance of said invoice. 

In the event Lessee fails to comply with the timely reimbursement of the property tax pursuant to this Agreement, Lessee shall pay to Lessor a
penalty interest charge equal to 0.5% of the total amount of the property tax, per each day of delay in reimbursing the same; in the understanding that, Lessee shall not pay interests or penalties to be payable by Lessor for not paying said property
tax in a timely manner. 
 Section 3.02. Utilities. Lessor represents that the infrastructure for electricity, telephone,
water and sewer utilities is available at the Leased Property; in the understanding that, Lessee shall be solely liable for the payment and for covering in full the contracting and consumption fees of said services, as well as for any other utility
which it may require for its operations at the Leased Property, including, but not limited to, deposits, contribution fees (“cuotas de aportacion”) and connection costs. 

Lessor states that the Leased Property has 700 KVAs owned by Lessor, which may be used by Lessee at the Leased Property during the Term; in
the understanding that, (i) all expenses and costs inherent to its use shall be borne by Lessee; and (ii) in the event that, if in order to use the KVAs, an assignment, a bailment agreement, or any other form of transfer of the KVAs to the
Lessee is required, Lessor shall carry out said transfer; in the understanding that, if this Agreement ends for any reason, Lessee hereby agrees to assign or transfer said KVAs back to Lessor (or its successors or assignees), without any condition,
restriction or limitation whatsoever, and at no additional cost to Lessor. 
 The parties agree that the assignment or transfer back to
Lessor, stated in subsection (ii) of the previous paragraph, shall occur before the Leased Property is vacated by Lessee and under the terms acceptable to Lessor. 

Lessee’s obligations herein shall be guaranteed by the Security Deposit and the Guaranty. 

Section 3.03. Maintenance. The parties agree that maintenance of the Leased Property shall be carried out as follows: 

1. Lessor shall perform at its own cost and expense the maintenance and structural repairs related to the foundations, floor structure,
exterior walls structure and the roof structure of the Space A, provided that such repairs are necessary due to the Space A normal wear and tear, and the same are not imputable to the negligence or willful misconduct of Lessee. 

Lessor shall be responsible for structural repairs and equipment replacement of the Leased Property if it such equipment is beyond its useful
life, assuming Lessee has properly maintained the equipment during the Term in accordance with Exhibit “B” 

  
 7 

 
attached hereto. The parties agree that Lessor shall not be responsible for any maintenance, repair or replacement of any of the cranes located at the Leased Property. 

Lessee shall grant Lessor, its employees and contractors access to the Leased Property during Business Days and hours, in order to carry out
the necessary repair works pursuant to this Section; in the understanding that, Lessor, its employees and contractors shall comply with Lessee’s internal safety regulations and policies, and they shall not interfere with Lessee’s
operations. 
 2. Lessee shall carry out at its own cost and expense the maintenance and non-structural repairs that do not require access
to the roof, required in the Leased Property, including, but not limited to, painting of the interior and exterior areas of the Space A, all the electric and hydraulic, and any other system of the Space A and the fumigation of the Leased Property or
any other cost or expense incurred by reason of plague extermination; provided, however, that said repairs are not caused due to Lessor’s fault or negligence. 

Lessor shall carry out, through its contractors, at Lessee’s cost and expense, all non-structural repairs and maintenance to the Space A
and the equipment or systems installed at the Space A, that requires access to the roof, including without limiting, the maintenance and repairs related to insulation, water tightness, cleaning and painting of the roof, rain drainage gutters and
pipelines, air conditioning systems, waterproofing and roof systems of the Space A. 
 Lessor shall request three quotations from three
different contractors, and will carry out the maintenance and repair to the Space A and the equipment or systems installed at the Space A that requires access to the roof, with the contractor that provides the best quotation. 

All amounts paid by Lessor in connection with non-structural maintenance and repairs to the Space A and the equipment or systems installed at
the Space A that requires access to the roof, shall be reimbursed to Lessor within the following fifteen (15) calendar days after providing a written request made to that effect, with the documents that evidence and justify said reimbursement.
In the event that Lessee fails to timely reimburse the above mentioned amounts, then, Lessee shall pay to Lessor a penalty interest charge equivalent to 0.5% of the total amount to be reimbursed, per each day of delay of the reimbursement of the
same. 
 Lessee shall grant Lessor, its employees and contractors access to the Leased Property during Business Days and hours, in order to
carry out the necessary maintenance and repair works pursuant to this Section; in the understanding that, Lessor, its employees and contractors shall comply with Lessee’s internal safety regulations and policies, and they shall not interfere
with Lessee’s operations. 
 Furthermore, Lessor and Lessee agree that Lessee shall not have access to the roof nor be allowed to
access the roof of the Building. 

  
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 3. Lessee further agrees that it shall continue and comply with the preventive maintenance
program set forth in Exhibit “B” attached hereto, and to provide such maintenance with personnel qualified by the equipment and installations manufacturer that so requires, in order to maintain in force the warranties granted
by said manufacturers. 
 4. In the event that any of the parties fails to comply with any of the obligations set forth under this Section,
the other party, after thirty (30) calendar days following written notice provided to the breaching party, and without waiving or releasing said breaching party from any of its obligations set forth herein, may, but shall be under no obligation
to, perform the acts which said breaching party is required to perform and, if the breaching party is Lessee, Lessor shall be entitled to enter to the Leased Property for said purposes and to perform such actions as may be necessary, as the case may
be. 
 All amounts reasonably paid by any of the parties in connection with the performance of the obligations of the breaching party, shall
be reimbursed to such party by said breaching party, within the following fifteen (15) calendar days after providing a written request made to that effect, with the documents that evidence and justify said reimbursement. In the event that the
breaching party fails to timely reimburse the above mentioned amounts, then, said breaching party shall pay to the other party a penalty interest charge equivalent to 0.5% of the total amount to be reimbursed, per each day of delay of the
reimbursement of the same. 
 Section 3.04. Regulations and Maintenance Fee. Lessee agrees to be subject to any operation
and maintenance regulations applicable to the common areas of the place where the Leased Property is located. 
 Lessee agrees to pay
directly to the industrial park manager, in case it is incorporated or applicable, the maintenance fee and any other maintenance expenses that are applicable to the Leased Property related to the operation and maintenance of the Industrial Park
common areas where the Leased Property is located. In the event Lessee does not pay said maintenance fee and/or any other maintenance expense, then, Lessor may, but shall be under no obligation to, pay the corresponding maintenance fee and/or
expense not paid by Lessee; in the understanding that, the latter shall reimburse Lessor any fee and/or expense in which it may has incurred, within the following fifteen (15) calendar days after written request. In the event that Lessee fails
to timely reimburse the above mentioned amounts, then, Lessee shall pay Lessor a penalty interest charge equivalent to 0.5% of the total amount to be reimbursed, per each day of delay until reimbursement of the same. 

Section 3.05. Inspections. Lessor shall be entitled to perform periodical inspections for the purposes of verifying the
compliance of Lessee with its obligations under this Agreement. The inspections shall be conducted during Business Days and hours, with 24-hour (twenty four hour) prior written notice; in the understanding that, said inspections shall comply with
Lessee’s internal safety regulations and policies and shall not interfere with Lessee’s operations. 

  
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 Section 3.06. Modifications to the Leased Property. Lessee shall not modify
the basic structure, exterior appearance or basic public utilities installed in the Leased Property, nor make any major change without Lessor’s prior written authorization. 

Notwithstanding the above, Lessee may perform any minor modifications or alterations to the Leased Property, at its own cost, expense and
risk, with prior written notice to the Lessor, in which said modifications or alterations are described; always that said modifications or alterations do not affect, impact or damage the Leased Property structure or its safety. 

Section 3.07. Insurance. The parties agree as follows: 

1. During the Term of this Lease, Lessor will obtain and maintain in force and effect insurance policies covering the Leased Property with the
coverage and characteristics referred to hereinafter: 
 (a) Extended coverage (all risks) for losses or damages to the Leased Property
caused by fire, lightening, explosions, hurricanes, hail, airplanes, vehicles, smoke, earthquakes, volcanic eruptions, strikes, riots, vandalism and terrorism, including, but not limited to. damage to the foundations, rubbish removal and any other
risks now or hereafter embraced by an extended coverage policy in Mexico, for an amount equal to the replacement cost of the Building, which, as of this date, is $4,330,157.00 Dollars; provided that said amount shall be annually adjusted in such
form to represent at all times the total replacement cost of the Building. 
 (b) Civil liability coverage for an amount equal to
$5,000,000.00 Dollars. 
 (c) If applicable to Lessee’s operations, coverage for damages or losses caused by the defective operation of
a boiler (or compressor) and/or the internal explosion of a high pressure boiler (compressor). 
 (d) Coverage for rental interruption for a
period of 12-months. 
 (e) Maximum co-insurance of 10%. 

(f) Deductible to be equal to or less than $25,000.00 Dollars 

2. Lessee shall reimburse Lessor any amount paid by reason of the premiums corresponding to the policies covering the Leased Property and/or
any other related expense (including, but not limited to, applicable deductibles and co-insurance), within fifteen (15) calendar days upon receipt from Lessor of the documentation evidencing said payments. In the event that Lessee fails to
timely reimburse the above mentioned amounts, then, Lessee shall pay Lessor a penalty interest charge equivalent to 0.5% of the total amount to be reimbursed, per each day of delay until reimbursement of the same. 

  
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 3. In case of any casualty in the Leased Property causing damage or destruction to the same,
Lessee shall immediately notify Lessor in writing and shall assist Lessor to conduct any action immediately or to provide any notice in connection with said casualty and application of the insurance of the Leased Property with the insurance
companies and/or competent authorities. 
 4. The sum of the insurance amounts paid as a result of said damage or destruction, shall be paid
to Lessor for the purpose of restoring, replacing, rebuilding or repairing the Leased Property as nearly as possible to its former condition prior to said damage or destruction. Any insurance proceeds received by Lessee shall be immediately
delivered to Lessor, and at all times, within fifteen (15) calendar days following the receipt of said proceeds. 
 5. During
Lessee’s occupation of the Leased Property, Lessee shall be responsible to obtain and maintain at all times sufficient insurance coverage for any and all Lessee’s and/or third parties’ personal property located in the Leased Property.
Additionally. Lessee shall obtain, at its own cost and expense, a civil liability insurance to cover Lessee’s activities and operations in the Leased Property against injury or death claims and/or damage to third parties’ property in an
amount equal to $1,000,000.00 Dollars. Lessee shall deliver to Lessor, within five (5) calendar days following execution hereof (and five (5) calendar days prior to the expiration of said insurance policies), the documents evidencing that
said insurance policies have been contracted (or renewed, if applicable). 
 6. Lessee shall reimburse Lessor any amount paid by Lessor in
connection with the Leased Property insurance, including, but not limited to, applicable deductibles and co-insurance. 
 CLAUSE FOURTH

 GUARANTIES 

Section 4.01. Guaranty. Lessee shall deliver to Lessor on the date of execution of this Agreement the original Guaranty
duly issued and in a form and contents that are acceptable to Lessor. If Lessee fails to deliver the Guaranty to Lessor, or to maintain the same in full force and effect during Lessee’s occupancy of the Leased Properly, pursuant to the terms of
this Agreement, then, Lessee shall pay to Lessor as liquidated damages, an amount equal to 1% of the total monthly Rent, per each day of default. 

Section 4.02. Security Deposit. Lessee shall deliver to Lessor the Security Deposit on the date of execution hereof. Lessee
represents and warrants that the Security Deposit shall guarantee each and all of its obligations hereunder and, therefore, Lessor may apply the Security Deposit to the payment of any of Lessee’s obligations in default under this Contract. 

In the event that Lessor applies the Security Deposit, totally or partially, pursuant to the terms set forth under this Section, Lessee shall,
within thirty (30) calendar days following Lessee’s receipt of Lessor’s written notice to that effect, deliver to Lessor the 

  
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amount so applied, in order to reinstate and maintain at all times the Security Deposit in full. 

If Lessee fails to deliver or reinstate the Security Deposit in favor of Lessor as set forth in this Section, then, Lessee shall pay Lessor as
liquidated damages, an amount equal to 0.5% of the total monthly Rent, per each day of default. 
 The parties agree that the Security
Deposit shall not bear interest or return for the benefit of Lessee, neither shall invoices be issued in favor of Lessee due to the delivery, reinstatement or update of the Security Deposit. 

CLAUSE FIFTH 

ENVIRONMENTAL MATTERS 

Section 5.01. Environmental Compliance. Lessee shall use the Leased Property in compliance with each and every applicable
Environmental Laws. 
 Section 5.02. Water Discharge. Lessee shall be solely liable for compliance with each and every
applicable Laws related to water discharge in connection with Lessee’s operations in the Leased Property. If so required by Lessor in writing, Lessee agrees to provide Lessor any report or information which, pursuant to the applicable Laws,
should be prepared and/or provided to the competent governmental authorities concerning water discharge. 
 Section 5.03.
Hazardous Materials. Lessee shall not use Hazardous Materials in the Leased Property, unless such Hazardous Materials are necessary for its operations and that comply with the Permitted Uses and Environmental Laws. Lessee hereby acknowledges
that the use of the following substances, is prohibited at the Leased Property (collectively, “Prohibited Hazardous Materials”): (i) Trichloroethylene (TCE); (ii) Perchloroethylene (PCE or PERC), (iii) 1,1,1
Trichloroethane (TCA), (iv) Polychlorinated biphenals (PCBs). (v) Pentachlorophenol, (vi) Perchlorate, and (vii) Hexavalent chromium and/or dichromates. Lessee shall be solely and fully liable for the use of Hazardous Materials
and/or Prohibited Hazardous Materials in the Leased Property; in the understanding that, Lessee hereby undertakes to indemnify and hold Lessor harmless against any action, claim, proceeding, fine or penalty related to the use or presence of
Hazardous Materials and/or Prohibited Hazardous Materials in the Leased Property. 
 Upon Lessor’s written request at any time, Lessee
shall deliver to Lessor, within the following thirty (30) calendar days, a list including a detailed description of the Hazardous Materials used by Lessee in the Leased Properly, as well as a copy of such certificates, permits, licenses and/or
authorizations that are required to use Hazardous Materials in the Leased Property. 
 Lessee shall, at its own cost and expense, remove
such unauthorized Hazardous Materials and/or Prohibited Hazardous Materials pursuant to this Agreement and to the Environmental Laws, that have been stored, disposes or otherwise Released by Lessee or

  
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by any of its employees, agents, suppliers, contractors, subcontractors or visitors, to Lessor’s entire satisfaction, but under no circumstances at a lower level or in a lower manner than
such necessary to comply with the Environmental Laws, and that does not limit any future use of the Leased Property, or cause a restriction on the title to the Leased Property or notice in relation therewith to be recorded. Lessee shall immediately
carry out said works at any time during the Term of the Agreement, as well as upon Lessor’s written request or, in the absence of a specific request made by Lessor, before Lessee surrenders possession of the Leased Property to Lessor, pursuant
to this Agreement. If Lessee fails to carry out said works during the Term of this Agreement, Lessor shall, at its own discretion, and without waiving the exercise of any legal remedy available hereunder or under the Environmental Laws (including,
but not limited to, any action to oblige Lessee to perform said work), perform the above mentioned works, at Lessee’s expense; in the understanding that, Lessee shall be solely liable for the use, handling, disposal and transportation of the
Hazardous Materials and/or Prohibited Hazardous Materials, as well as for the damages the same may now or hereafter cause. Lessee shall pay all expenses incurred by Lessor on the execution of said works, within ten (10) calendar days following
the date of Lessor’s request of the corresponding reimbursement, along with the documents evidencing said expenses incurred. 

Section 5.04. Notice of Environmental Matters. Lessee shall immediately inform Lessor in writing of any of the following
circumstances, within five (5) Business Days following the date of Lessee’s knowledge of the same: 
 (a) Breach of the
Environmental Laws related to or affecting the Leased Property, Lessee and/or Lessee’s operations in the Leased Property. 
 (b) Any
judicial or administrative proceeding in connection with Environment, health or safety matters, either federal, state or local, including, but not limited to, any lawsuit, action or claim related to a Contamination Condition, Releases, Hazardous
Materials, Prohibited Hazardous Materials and/or water discharge. 
 (c) Releases affecting the Leased Property in any manner whatsoever or
any Release known by Lessee to come from a property adjacent to the Leased Property. 
 Section 5.05. Contamination
Condition. Lessor shall be entitled to carry out inspections, studies and/or verifications (including, but not limited to, conducting perforations and taking soil, subsoil, underground water and waste water discharge samples) in the Leased
Property in order to verify that the Leased Property is free from unauthorized Contamination Conditions, Prohibited Hazardous Materials and/or Hazardous Materials hereunder, and that is in compliance with the applicable Environmental Laws. Said
inspections, studies and/or verifications shall be carried out on Business Days and hours, upon 24-hour prior written notice; in the understanding that, said inspections shall comply with Lessee’s internal safety regulations and policies. 

All costs derived from said inspections, studies and/or verifications shall be borne by Lessor, except if the existence of an unauthorized
Contamination Condition, 

  
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Prohibited Hazardous Materials or Hazardous Material hereunder is discovered in the Leased Property and is attributable to Lessee, its employees, agents, suppliers, contractors, subcontractors
and/or visitors, in which case, Lessee shall reimburse Lessor any expense incurred by Lessor pursuant to this Section, within the five (5) Business Days following the Lessor’s written request of the corresponding reimbursement, along with
the studies evidencing the Contamination Condition, Prohibited Hazardous Materials and/or Hazardous Material discovered. 
 Lessee shall
immediately implement, and in all circumstances within three (3) calendar days following the date on which a Condition of Contamination affecting the Leased Property is detected, at its own cost and expense, such Remediation actions as may be
necessary to eliminate any Contamination Condition caused by Lessee, its employees, agents, suppliers, contractors, subcontractors and/or visitors, pursuant to and in compliance with the rules and regulations set forth in the Environmental Laws.

 Section 5.06. Environmental Indemnity. Lessee hereby undertakes to defend and hold Lessor, its affiliates,
subsidiaries, shareholders, partners, directors, officers and employees harmless from and against any loss, claim, legal action, fine or sanction, whether administrative, civil or criminal imposed by any federal, state or local authority, arising
from the default to the Environmental Laws on the part of Lessee, its employees, agents, suppliers, contractors, subcontractors and visitors. 

The indemnity contained in this Section shall be mandatory for Lessee during the Term hereof and shall be effective for an additional 5-year
period after the Term. 
 Section 5.07. Clean Industry Certification. Lessor hereby calls Lessee to form part of the
voluntary environmental self-regulatory and environmental auditing program managed by the Federal Environmental Protection Agency (Procuraduria Federal de Protection al Ambiente), also known as “clean industry”, in order to generate
an active interaction between Lessee and the environmental authorities to the benefit of the Environment; in the understanding that, adherence to said program is strictly voluntary. 

CLAUSE SIXTH 

LIABILITY 

Section 6.01. Indemnification. Lessee and Lessor shall be respectively liable for damages to the Leased Property caused by
their own negligence, willful misconduct or fault or that of their respective employees, agents, contractors, subcontractors and/or visitors. 

Unless otherwise expressly provided herein, Lessor agrees to defend, indemnify and hold Lessee harmless from any claims, losses, damages,
expenses or liability, including penalties or interest, for which Lessee is required to pay, due to acts or omissions of Lessor, or any of its employees, agents, contractors, subcontractors and/or visitors, that cause, directly or indirectly, such
liability, penalty and/or interest. 

  
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 Unless otherwise expressly provided herein, Lessee agrees to defend, indemnify and hold Lessor
harmless from any claims, losses, damages, expenses or liability, including penalties or interest, for which Lessee is required to pay, due to acts or omissions by Lessee, or any of its employees, agents, contractors, subcontractors and/or visitors,
that cause, directly or indirectly, such liability, penalty or interest. 
 Section 6.02. Labor Liability. Lessee
represents that since it shall use the Leased Property to establish a company, any labor liability arising out of the same shall be solely and exclusively borne by Lessee, including but not limited to, indemnifications paid to all the employees
working for said company, whether they form part of a union or not, whether they are non-union, temporary or other employees, as well as the fees paid to the Mexican Social Security Institute, payments of federal, state or local taxes, union fees
and other costs or charges which may be derived from its labor relationship. 
 Likewise, labor liability derived from the maintenance of
the Leased Property applicable to Lessor, shall be solely and exclusively borne by Lessor, including, but not limited to, indemnifications paid to all the personnel working for Lessor, whether they form part of a union or not, whether they are
non-union, temporary or other employees, as well as the fees paid to the Mexican Social Security Institute, payments of federal, state or local taxes, union fees and other costs or charges which may be derived from its labor relationship. 

CLAUSE SEVENTH 

SURRENDER OF THE LEASED PROPERTY 

Section 7.01. Surrender of the Leased Property. Upon expiration of the Term, or early termination date pursuant to the
provisions of this Clause, Lessee shall return and deliver possession and use of the Leased Property to Lessor, without any delay or the need of any notice or resolution, and in the same state and condition in which Lessee received it at the
commencement of this Agreement, except for normal wear and tear. 
 Section 7.02. Environmental Studies and Remedial
Actions. Lessee shall, at its own cost and expense, one hundred and eighty (180) calendar days before the expiration of the Term, carry out and deliver to Lessor an environmental study of the Leased Property known as “Phase I”,
performed by a prestigious environmental consultant firm, authorized to that effect by the Mexican environmental authorities, and if it were necessary or required by said Phase I study, a Phase II site environmental study. In the event said
environmental studies state that the Leased Property has a Contamination Condition which affects the Leased Property and which has been caused by Lessee, its employees, agents, suppliers, contractors, subcontractors and/or visitors, Lessee shall, at
its own cost and expense, immediately carry out Remediation actions in the Leased Property, and in any case no later than three (3) calendar days following the date on which said Contamination Condition was detected, pursuant to the provisions
and rules set forth in the Environmental Laws. 
 Section 7.03. Repairs to the Leased Property. Lessee expressly and
irrevocably agrees that, prior to the vacancy of the Leased Property by Lessee, it shall carry out (at its 

  
 15 

 
own cost and expense) each and every necessary repair in order to surrender the Leased Property to Lessor in the same state and condition in which it was delivered to Lessee at the commencement
of this Agreement, except for normal wear and tear. 
 Section 7.04. Goods, Improvements and Accessories owned by Lessee.
All furniture, machinery, accessories and/or equipment of any kind which were installed by Lessee in the Leased Property (which are not property of Lessor), which have been permanently affixed or not; shall remain property of Lessee and shall be
removed by Lessee before the Leased Property is surrendered to Lessor, unless Lessee and Lessor agree otherwise in writing; in the understanding, however, that Lessee shall repair any damage caused by the installation or removal of said furniture,
machinery, accessories or equipment, as well as sealing, cutting and duly covering any cables, pipes or ducts related to any improvement property of Lessee which Lessee removes or which Lessor orders to be removed. In the event any cables, pipes or
ducts have been incorporated to the walls or roofs, Lessee shall provide Lessor the plans which specify the location of said cables, pipes or ducts in the Leased Property. 

Furthermore, all signs, inscriptions, lattices and similar installations made by Lessee shall be removed on or before the date on which Lessee
vacates the Leased Property. 
 Section 7.05. Certificates of Departure. Additionally, Lessee shall deliver to Lessor on
the date on which Lessee vacates the Leased Property (i) original certificates or payment receipts issued by the utility companies, which certify that all public utilities used at the Leased Property have been duly and fully paid up to that
date; and (ii) if applicable pursuant to the Environmental Laws, a site abandonment certificate or a similar certificate which states that the Leased Property is free from any contamination, Hazardous Materials and any Contamination Condition
and/or, if applicable, that all Remediation actions have been fulfilled pursuant to the remediation parameters set forth by the Environmental Laws and the environmental authorities. 

Section 7.06. Penalty for Delay in Surrender the Leased Property. In the event Lessee does not vacate and surrender to
Lessor the Leased Property on the date on which it should deliver it pursuant to this Agreement and the terms set forth herein for the delivery of the Leased Property, then Lessee shall immediately start to pay a rent equal to the amount resulting
from multiplying the latest effective Rent by two (2), until Lessee vacates and delivers the Leased Property to Lessor pursuant to the terms set forth herein for the delivery of the Leased Property; in the understanding that, Lessee hereby expressly
and irrevocably waives all rights derived from Articles 2387 and 2388 of the Civil Code for the State of Chihuahua, Mexico. 

Notwithstanding the foregoing (i) acceptance by Lessor of said payment shall not imply under any circumstances consent by Lessor for
Lessee to continue the use, enjoyment and possession of the Leased Property, neither shall it imply a waiver by Lessor to its rights to recover the Leased Property pursuant to the terms of this Agreement; and (ii) the Guaranty shall continue to
be effective until Lessee vacates and 

  
 16 

 
deliver the Leased Property to Lessor pursuant to the terms and conditions set forth in this Agreement and complies with each and all of its obligations herein. 

Section 7.07. Right to Commercialize the Leased Property. Lessor shall be entitled to enter the Leased Property and Lessee
shall allow Lessor’s access, at any time during Business Days and hours, within one hundred and eighty (180) days prior to the expiration date of the Term of the lease, in order to show the Leased Property to prospective Lessees; in the
understanding that, said visits shall comply with Lessee’s internal safety regulations and policies and shall not interfere with Lessee’s operations. 

Section 7.08. Return of Security Deposit. After Lessee’s compliance with each and all of its obligations under this
Agreement, the Security Deposit shall be returned to Lessee, within thirty (30) calendar days following the date of surrender of the Leased Property to Lessor pursuant to the terms and conditions provided in this Agreement. 

CLAUSE EIGHTH 

EARLY TERMINATION 

Section 8.01. Causes for Early Termination If at any time (i) Lessee fails to comply with payment of two or more
payments of Rents; (ii) Lessee and/or Guarantor are declared in a state of insolvency, bankruptcy, default, concurso mercantil, commercial reorganization, dissolution and/or liquidation, unless said Guarantor is replaced by another
guarantor acceptable to Lessor; (iii) Lessee is subject to strike and such strike causes damage to or materially disrupts the quiet enjoyment of other tenants of the Leased Property; (iv) Lessee fails to comply with any of its
environmental obligations pursuant to the Environmental Laws or this Agreement (including, but not limited to, the obligations included in Clause Fifth hereof and/or in Sections 7.02 and 7.05 of Clause Seventh), and such obligations have not been
remedied within thirty (30) calendar days following the breach of the same; or (v) a material default hereunder occurs on behalf of Lessee (which default remains uncured for more than thirty (30) days after receipt of notice thereof
from Lessor), then, Lessor may: 
 (a) Early terminate this Agreement, by written notice sent to Lessee, without any subsequent obligation
for Lessor and without the need of prior judicial resolution to that effect; 
 (b) Claim to Lessee and/or Guarantor the payment of any
amount owed to Lessor pursuant to this Agreement, including, but not limited to. Rents, interest and penalties; 
 (c) Collect from Lessee
and/or Guarantor each and all of the future amounts payable to Lessor pursuant to the terms and conditions hereof, including, but not limited to, outstanding Rents for the Term; and 

(d) Request Lessee the reimbursement of the reasonable attorneys’ fees in connection with the implementation and enforcement of all
rights granted under this Clause in favor of Lessor. 

  
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 CLAUSE NINTH 

RIGHT OF FIRST OFFER TO LEASE AND OPTION TO LEASE 

Section 9.01 Right of First Offer to Lease. Provided Lessor has the real and legal possession of Space B, Lessor, hereby
grants in favor of Lessee, a right of first offer to lease the Space B as of the Commencement Date, in the understanding that Lessee shall have the right to be preferred before a third party (the “Third Party”) to lease the Space B
(the “Right of First Offer”) only in one occasion, under the terms of this Section. 
 For all effects of the above: 

1.- Lessor shall notify in writing to Lessee its intention to offer for lease the Space B to a Third Party, in the understanding that
the intention to offer for lease does not include the promotion of Space B, but shall be considered as an intent to offer for lease when Lessor has a formal offer from a Third Party. 

2.- Lessee’s Right of First Offer shall only apply in one occasion during the Term of this Agreement. 

3.- If Lessee desires to exercise its Right of First Offer, Lessee shall notify its intention to Lessor within the next 15 calendar
days after the receipt by Lessee of Lessor’s above referred notice (the “Answer Period”). 
 4.- In the event
that the Lessee exercises its Right of First Offer, and only once the Space B had been delivered to the Lessee, the term “Leased Property” established in the First Clause of this Agreement, shall also include and mean the term “Space
B”, likewise, the references included in this Agreement regarding the “Space A” will be understood as made regarding the “Building”, including the surface of both the Space A and the Space B and the reference to the Land
shall be understood regarding the entire Lot B. 
 5.- The parties agree hereby that, during the Term of this Lease, Lessee shall
lose its Right of First Offer and Lessor shall be entitled to lease the Space B to any Third Party without any responsibility, in case that: (i) Lessee does not notify Lessor of its intention to exercise its Right of First Offer within
the Answer Period; or (ii) Lessee notifies Lessor in writing that has no intention to lease the Space B or to exercise its Right of First Offer; or (iii) Lessee is in default of any of its obligations under the Lease
Agreement at the moment of exercise its Right of First Offer. 
 6.- In the event Lessee exercises its Right of First Offer and as of
the date on which the Space B is delivered to Lessee in terms of this Section, the Expiration Date shall be automatically extended for a mandatory period of 3 years counted from the date on which the Space B is delivered to Lessee. 

7.- In case Lessee does not exercise its Right of First Offer in terms of this Section, Lessee shall vacate the Leased Property and
surrender the Leased Property to Lessor within the 30 calendar days following: (i) the date on which Lessee notifies Lessor its desire to not exercise its Right of First Offer or (ii) the expiration date of the Answer

  
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Period in case Lessor does not receive any notice from Lessee regarding its intention of exercise or not of its Right of First Offer in terms of this Lease Agreement. 

In connection with the foregoing, Lessee shall carry out its process to vacate the Lease Property and surrender of the Lease Property to
Lessor in terms of this Agreement, including without limiting, complying with all its environmental and maintenance obligations. 

Section 9.02 Option to Lease. Provided that Lessor has the real and legal possession of Space B, Lessee will have a right
to lease the Space B, at any time during the Initial Term of the Lease, in the same terms and conditions as the Space A (the “Right of Lease”), 

In the event Lessee exercises its Right of Lease and as of the date on which the Space B is delivered to Lessee in terms of this Section, the
Expiration Date shall be automatically extended for a mandatory period of 3 years counted from the date on which the Space B is delivered to Lessee. 

In the event that the Lessee exercises its Right of Lease, and only once the Space B had been delivered to the Lessee, the term “Leased
Property” established in the First Clause of this Agreement, shall also include and mean the term “Space B”, likewise, the references included in this Agreement regarding the “Space A” will be understood as made regarding
the “Building”, including the surface of both the Space A and the Space B. 
 Regardless of the foregoing, the parties agree that,
in the event Lessor receives an offer from a Third Party to lease the Space B and Lessor notifies Lessee in terms of Section 9.01 of such offer before Lessee exercises its Right of Lease, then, Lessee will not be able to exercise its Right of
Lease as provided herein and shall only be able to exercise its Right of First Offer in the terms provided in Section 9.01. 

CLAUSE TENTH 

FIRE PROTECTION SYSTEM 

Section 10.01. Fire Protection System. The parties acknowledge that the Leased Property has installed a Fire Protection
System which shall be considered as part of the Leased Property (hereinafter referred to as the “Fire Protection System”). 
 The
parties agree and acknowledge that the Fire Protection System may be shared between two or more of the buildings owned by the Lessor, with the understanding that, in this case, the tenants of such buildings, the Lessee and the Lessor will execute an
agreement to share the Fire Protection System. Furthermore, Lessee shall comply with the maintenance activities recommended by the Fire Protection System manufacturer. 

Additionally, during the Term of this Lease, and except as otherwise provided herein, the responsibility for the management, maintenance,
monitoring and repair of the Fire Protection System will be in charge of Lessee, according with the following terms: 

  
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 1.- Lessee will perform at its own cost and expense the management, maintenance, monitoring and
repair that may be necessary to the Fire Protection System. 
 2.- Lessee agrees to cover each and every one of the expenses related to the
maintenance and operation of the Fire Protection System, including the preventive maintenances as well as the annual maintenance that has to be performed to the Fire Protection System, according with the established in Exhibit “C” attached
hereto. 
 3.- If the Fire Protection System is shared between Lessee and other tenants, the cost of the management, maintenance, monitoring
and repair of the Fire Protection System shall be proportionally shared by Lessee with any other tenants of adjacent buildings that share the use of the Fire Protection System, in accordance to the percentage allocated for use by each party,
provided that in the case of Lessee it will be considered for the allocation, the surface of the Industrial Facility (including Space A and Space B), and in accordance to the agreement to be executed by and between Lessor, Lessee and all its users.
All other obligations regarding the Fire Protection System will be at Lessee’s sole responsibility. 
 In the event that the Fire
Protection System is only being used by Lessee, then, all obligations regarding its management, maintenance, monitoring and repair, shall be exclusively borne by Lessee. 

Additionally, the parties agree that the Lessor shall have the right to perform at its sole discretion risk and expense, inspections for the
purposes of verifying the compliance of Lessee with the terms of this Agreement. The inspection shall be conducted during business hours, with 24-hour (twenty four-hour) prior written notice tendered to Lessee by Lessor and in such manner that does
not interfere with Lessee’s operation. 
 CLAUSE ELEVENTH 

MISCELLANEOUS 

Section 11.01. Assignment and Sublease. Lessee shall not assign any of its rights or obligations under this Agreement, nor
sublease, in whole or in part, the Leased Property, without Lessor’s prior written authorization; in the understanding that, Lessee hereby expressly and irrevocably waives to all rights deriving from Article 2392 of the Civil Code for the State
of Chihuahua, Mexico. 
 Lessor shall be entitled to assign, encumber, or otherwise pledge or assign its rights and/obligations under this
Agreement. 
 Likewise, Lessor and Lessee agree that pursuant to the provisions set forth in the Laws, this Agreement shall survive any
conveyance of title to the Leased Property or any Lessor’s encumbrance or mortgage on the same, and that any default in payment of said encumbrances or mortgages shall under no circumstances affect the terms and conditions of this Agreement.

  
 20 

 Section 11.02. Waiver of Preemptive Right and Right of First Refusal. Except
as provided herein at Section 9.01, Lessee hereby expressly and irrevocably waives any right of first refusal to renew this Agreement, as well as any preemptive right to purchase the Leased Property, including, but not limited to, the right of
first refusal and preemptive right set forth in Articles 2346 and 2384 of the Civil Code for the State of Chihuahua, Mexico. 

Section 11.03. Amendments to this Agreement. Unless otherwise expressly stated herein, no modification, discharge or
release from the obligations hereunder, or waiver of any of the provisions hereof, shall be valid or binding, unless the same are made through a written amendment to this Agreement, duly executed by the parties hereto. 

Section 11.04. Entire Agreement. The parties agree that this Agreement includes all the obligations, rights and covenants
between them and, therefore, this Agreement shall constitute the entire agreement existing, in full force and effect and executed between the parties in connection with the lease of the Leased Property, and shall replace any other document, lease,
contract, covenant or agreement executed by said parties, either orally or in writing. 
 Section 11.05. Governing Law and
Jurisdiction. This Agreement shall be governed and construed in accordance with the applicable Mexican laws and specifically with the Civil Code of the State of Chihuahua, Mexico. 

The parties hereof irrevocably agree to submit to the jurisdiction of the competent courts in (i) the Ciudad Juarez, Mexico; and
(ii) the Federal District, Mexico; at plaintiff’s option, and expressly and irrevocably waive any other jurisdiction to which they might be entitled to by reason of their present or future domiciles, or by any other reason. 

Section 11.06. Notices. Unless any provision to the contrary is expressly set forth in this Agreement, any notices or
communications provided herein shall be made in writing and shall be delivered to Lessor’s or Lessee’s Domicile, as the case may be, or to any other domicile as the parties may notify in writing to all other parties hereto. All notices and
communications delivered to the pertinent party’s domicile shall be deemed effective as of the date of delivery of the same. 

Section 11.07. Estoppel Certificate-Financial Statements. Lessee shall deliver, within ten (10) days after
Lessor’s written request therefor, a certificate to the party designated in such request, in the form supplied, certifying, among others, that this Lease is unmodified and in full force and effect (or stating any modifications then in effect),
that there are no defenses or offsets thereto (or stating those claimed by Lessee), the dates to which Rent has been paid, and as to any other information reasonably requested. Subject to mutually agreed upon terms of confidentiality as evidenced by
a duly executed non-disclosure agreement, Lessee and Guarantor further agrees that, within ten (10) days after Lessor’s request therefor, they shall deliver to Lessor accurate audited annual financial statements then available for
Lessee’s and Guarantor’s most recent fiscal year. 

  
 21 

 Section 11.08. Translation. This Agreement shall be executed both in English
and Spanish, and both texts shall be binding and constitute one single document; in the understanding, however, that (i) in the event of differences between both versions, the Spanish version shall prevail; and (ii) in the event of
any controversy, dispute, judicial proceeding and/or litigation related to this Agreement and/or the Leased Property, the parties agree that they shall use the Spanish version for any such events. 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date stated above. 

 

									
		 		 	“LESSOR”:	 		 	“LESSEE”:
			
	Macquarie México Real Estate Management, S.A. de C.V., as attorney-in-fact of Deutsche Bank México, S.A., Institución de Banca Múltiple, División Fiduciaria, as Trustee of Trust
F/1638	 		 	TPI-Composites, S. de R.L. de C.V.
				
		 	 /s/ Peter M. Gaul
	 		 	 /s/ Paul Herbert Hahnenberger Jr.

		 	By:	 		 		 	By: Paul Herbert Hahnenberger Jr.
		 		 		 		 	Position: Legal Representative
				
		 	 /s/ Jaime Lora Medellin
	 		 	
		 	By:	 	Jaime Lora Medellin	 		 	

  
 22 

 E X H I B I T S 

 

	“A”	INDUSTRIAL BUILDING PLAN 

  

	“B”	PREVENTIVE MAINTENANCE PROGRAM 

  

	“C”	FIRE PROTECTION SYSTEM SPECIFICATIONS 

  
 23 

 

 

 Exhibit “B” 

PREVENTIVE MAINTENANCE PROGRAM 

EXTERIOR PAINT (GENERAL) 
  

	•	 	All walls and facade paint, as well as the plant finish shall be respected and maintained in excellent conditions. 

  

	•	 	All exterior paint, including the guardhouse, warehouses, compressor rooms and storage tanks, shall be repainted every five years or when its appearance and surface shows damage such as: stains, spots, scraping or
deterioration of the same. 

 INTERIOR PAINT 
  

	•	 	Cleaning and/or washing should be undertaken where and when needed; the interior paint should be repainted when its appearance and surface shows damage such as: stains, spots, scraping or deterioration of the same.

 GREEN AREAS 
  

	•	 	Cleaning and maintenance consists of mowing the lawn, cutting the ornamental plants, fertilizing and implementing a replanting program. As well as for the maintenance and repair of the sprinkler system, if applicable.

 FINISH AND OPERATION OF BATHROOMS 

(Applicable if there exists a usage or not of the building bathrooms). 
  

	•	 	Repairs or replacements shall be made to the tile, ceramic, bathroom stalls, and sanitary devices that may suffer damage due to its use. 

 

	•	 	The fluxometer valves, mixing valves, filling valves and tank valves shall be maintained without leakages in good working order. 

  

	•	 	The following shall be kept in good condition or replaced if necessary: hinges, ironwork, bathroom screens, paper baskets, soap dishes, paper dispensers, paper supporters, mirrors and electric hand dryers.

  

	•	 	Special care must be observed in the water and sewage pipelines which users can expose to misuse or damage. 

 WATER STORAGE TANKS 
  

	•	 	Preventive maintenance and constant reviews shall be given to the hydroneumatic equipments for its optimal functionality at least once a year and/or when needed. 

PARKING LOTS 
  

	•	 	Parking lots, edging, crossing areas and security zones of the industrial area shall be kept clean, well defined and shall be repainted at least once every five (5) years and/or when needed. 

 

	•	 	Maintenance and cleaning shall be provided to asphalt where holes or oil residues spilled by machinery or vehicles may be located. 

  

	•	 	It is prohibited to store materials that due to their nature or design may damage the parking lot surface. 

METALLIC COVERS AND RAIN WATER SPOUTS/GUTTERS [roof access necessary] 
  

	•	 	Consists in the cleaning of sheets, covers and rainwater spouts/gutters, as well as the replacement, when needed. Includes the removal of dust, mud, organic material and sealing compounds. Additional cleaning must be
undertaken in connection with the covers, extractors, chimneys or domes when needed. 

  

	•	 	Regular inspection and cleaning of metallic sheets, roof cover and water spouts/gutters shall be undertaken every three months. 

  

	•	 	Technical systems approved by Lessor should be utilized in order to safeguard against water leaks. Leak Detection and repair as needed. 

 

	•	 	All personnel going up to the roof cover shall do so with soft sole shoes, avoiding where possible the use of materials and tools which damage the roof cover. 

 

	•	 	Upon conclusion of any work all surplus materials of such repairs or installations must be removed. 

 TPO
ROOF STRUCTURE 
  

	•	 	No modifications or additions shall be made without the prior authorization from Lessor, nor shall the structure be used as a support for any material or tools. 

 

	•	 	TPO structures shall be kept clean, and all dust, spider webs, birds nests or other wildlife shall be safely removed and. if possible, relocated. 

  
 2 

	•	 	All TPO/roof structures shall be maintained and painted and any damage caused by welding, corrosion, forklift accidents or the like must be repaired and/or replaced. 

ALUMINUM SCREENS 
  

	•	 	It shall be kept adjusted and lubricated on their belts, hinges and locks. 

  

	•	 	All of the glass or acrylic that was broken, shattered or damaged shall be replaced immediately in accordance with the original specifications. 

 

	•	 	The seal of the frame of windows must be replaced when it is necessary. 

  

	•	 	A product suitable for the cleaning of the aluminum screens must be utilized. 

  

	•	 	Painting and finish work related to the aluminum screens must be undertaken at least once a year. 

 DOORS,
ROLL-UP DOORS AND RAMPS 
  

	•	 	Doors, curtains and ramps must be kept painted, lubricated and adjusted including: all ironwork, locks, and panic bars for the optimum operation of the doors. 

 

	•	 	Any structural damage caused by Lessee’s negligence to a curtain requires replacement of the same. 

  

	•	 	Seal covers, and sealed flashing of the doors must be well maintained. 

  

	•	 	The functioning of the ramp motors must be periodically checked and cleaning of the motor and receptor channels undertaken periodically. The ramp curtains shall be kept painted, in their guide channels and in main gear.

  

	•	 	The dock suction pit must be kept clean of stagnant water. Also the water pump must be replaced, when it is necessary 

PLUVIAL SYSTEM 
  

	•	 	It shall be cleaned at a minimum of once per month and will include the removal of any obstructions or plants, when needed. 

  

	•	 	Connection, either partially or totally of the pluvial system to the sanitary sewage system is not permitted under any circumstances (this will invite serious fines by the Federal Authorities). 

GENERAL CLEANING 

  
 3 

	•	 	As much as practically possible of the residues or by-products generated in the industrial process, services or maintenance of the industrial operation of the plant shall be removed; in accordance with the environmental
legislation in force. 

 FUMIGATION 
  

	•	 	If necessary, Lessee shall be responsible at its sole cost and expense, of the fumigation of the Leased Property, and/or any cost or expense derived from the intention of eliminating any plague. 

FINISH OF THE OFFICES 
  

	•	 	The finish of the offices shall be maintained clean and painted when needed. The carpets shall be kept clean, free of dust, oil and odors and free of spots during any painting. 

 

	•	 	The air vents, electrical outlets, jack, installation of telephone lines or lamps, shall be maintained clean and/or replaced when damaged. 

 

	•	 	The supports shall always be kept level. 

  

	•	 	Maintenance shall be undertaken on doors and offices, supports, frames, cafeteria equipment and furniture and kitchen space with special oils for the wood and finish, such items being restored as necessary.

 EXTERIOR FINISH 
  

	•	 	The exterior paint and grading shall be replaced in accordance with the initial design, the moldings, brick facades, false facades, tiles/floors and columns shall be cleaned with products effective for such purpose and
damaged pieces must be substituted with others of equal quality when it is needed. 

 FIRE SYSTEMS (In case the Building has this
equipment). 
  

	•	 	Starting tests shall be carried out on electric pumps and diesel motors. 

  

	•	 	The good function of the following must be checked: sidewalk hydrants, hose extensions, wall hydrants, smoke detectors and temperature/heat sensors in accordance with the specifications of the manufacturer.

  

	•	 	In the interior distribution lines of the fire system, rusted areas shall be located, repainted and noted with respect to the fire system, when needed. 

  
 4 

 LIGHTING MAINTENANCE 
  

	•	 	The lamp acrylic must be changed when needed. 

  

	•	 	The fluorescent lamps must be changed in a period of 15,000-20,000 use hours, depending on the type of bulb. 

  

	•	 	The ballasts should be checked in order to verify that they are in good working order. 

 OUTSIDE LIGHTING

  

	•	 	The function of the floor and wall lamps should be checked. 

  

	•	 	Lamps and other lighting sources shall be checked as well as the repair and painting of the out lockers when warranted. 

PREVENTIVE MAINTENANCE PROGRAM 

FOR THE AIR CONDITIONER EQUIPMENT 

[Roof access necessary] 
 OEM
means the Original Equipment Manufacturer. 

  
 5 

 MONTHLY PROGRAM (or according to OEM’s recommendations) 

 

	1.	Check line voltage and electric feed. 

  

	2.	Check fuses. 

  

	3.	Lubricate motors and/or equipment. 

  

	4.	Check condition and tension of belts and bands. 

  

	5.	Check pulleys and alignment. 

  

	6.	Clean and replace filters. 

  

	7.	Clean condensation trays and air clean drain tubes. 

  

	8.	Clean exterior of equipment. 

  

	9.	Check for refrigerant leaks and check pressure. 

 QUARTERLY PROGRAM (or according to OEM’s
recommendations) 
  

	10.	Check and clean points and contacts (if necessary). 

  

	11.	Check cable feed connections and control. 

  

	12.	Check thermostat operation. 

  

	13.	Clean expansion valve, bulb and tube contact surface. 

  

	14.	Check motor and compressor amperage. 

  

	15.	Check interrupters and switches for operation. 

  

	16.	Check ball bearings. 

  

	17.	Clean injection and return air grills. 

 SEMIANNUAL PROGRAM (or according OEM’s recommendations)

  

	1.	Clean cooling coils and turbine with cleaning solution and high-pressure water. 

  

	2.	Check and eliminate air leaks in equipment, duct and joints. 

  

	3.	Check and repair duct covers and equipment covers. 

  

	4.	Perform general cleaning with electric solvent to the main control panel. 

  

	5.	Check service valves and solenoids. 

  

	6.	Check heating banks. 

  
 6 

 PREVENTIVE MAINTENANCE PROGRAM 

FOR THE ELECTRIC SYSTEMS 
 Annual
Maintenance or according to OEM’s recommendations. 
 SUBSTATION 

 

	1.	Check the adjustment resistance and connection points to the principal feeder. 

  

	2.	Clean with proper solvent all porcelain body components like insulators, cut off switches and terminals, covering them with high-tension silicone paste. 

 

	3.	Check the oil levels. 

  

	4.	Check the oil to determine the level of moisture. 

 Monthly Maintenance or according to OEM’s
recommendations. 
 SUBSTATION 
  

	1.	Check voltage from incoming feeder. 

  

	2.	Clean insulation and high-tension terminal areas. 

  

	3.	Check voltage of service line. 

  

	4.	Check voltage on secondary feeder. 

 MAIN PANEL BOARD 

 

	1.	Check mechanical operation of circuit breaker and adjust or fix if required. 

  

	2.	Check adjustment to distribution circuit wires. 

 LIGHTINGS IN PRODUCTION 

 

	1.	Test operation of the emergency exit light fixtures. 

  

	2.	Check the operation of the floodlights including their photocell controls. 

 DRY TRANSFORMERS 

 

	1.	Test the feeder circuits and main breaker. 

  

	2.	Check or test the 240-volt secondary feeder to the control panel. 

  

	3.	Test the mechanical operation of the 240-volt principal feeder to the lighting control panel. 

 AIR
CONDITIONING 
  

	1.	Check main circuit breakers feeding air conditioning circuits. 

 GROUNDING 

  
 7 

	1.	Check resistance level to grounding system. 

 In order to evidence the maintenance program
referred to on this Exhibit “B”, Lessee must keep: (i) a log; and (ii) evidence of the same (agreements, maintenance policies, invoices, etc.) 

In order to preserve the equipment guaranties, companies authorized by the equipment manufacturers must carry out the preventive maintenance.
If Lessee fails to carry out such preventive maintenance, Lessee shall assume the responsibility of such maintenance and, as consequence, shall lose any right to claim any guaranty indemnity in terms of the manufactures. 

  
 8 

													
	 CONVENIO MODIFICATORIO de fecha 25 de septiembre de 2013 celebrado entre:

 
	 		 	AMENDMENT AGREEMENT dated as of September 25, 2013, executed by and between:
		 	(1)	 	 DEUTSCHE BANK MÉXICO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, DIVISIÓN FIDUCIARIA, COMO FIDUCIARIO DEL
FIDEICOMISO F/1638 (en lo sucesivo el “Arrendador”); y
  
	 		 		 	(1)	  	 DEUTSCHE BANK MÉXICO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, DIVISIÓN FIDUCIARIA, AS TRUSTEE OF TRUST F/1638
(hereinafter referred to as the “Lessor”); and
  

		 	(2)	 	 TPI-COMPOSITES, S. DE R.L. DE C.V.,

(en lo sucesivo la “Arrendataria”)
  
	 		 		 	(2)	  	TPI-COMPOSITES, S. DE R.L. DE C.V., (hereinafter referred to as the “Lessee”)
	 De conformidad con los siguientes Antecedentes, Declaraciones y Cláusulas; en el entendido de que a
menos que se definan en forma distinta en este Convenio, los términos definidos en el Contrato de Arrendamiento a que se refieren los Antecedentes de este Convenio, se usan en el presente Convenio en la misma forma en que fueron definidos
conforme a dicho Contrato de Arrendamiento:
  
	 		 	 In accordance with the following Preliminary Statements, Recitals and Clauses; in the understanding that, unless otherwise defined hereto, the
terms defined in the Lease Agreement referred in the Preliminary Statements hereto, are utilized in this Agreement in the same manner as they were defined in accordance with said Lease Agreement:

	 A N T E C E D E N T E S

 
	 		 	P R E L I M I N A R Y  S T A T E M E N T S
	 El Arrendador y la Arrendataria celebraron un contrato de arrendamiento de fecha 15 de abril de 2013 (en lo
sucesivo, según haya sido modificado de tiempo en tiempo el “Contrato de Arrendamiento”), respecto del edificio identificado como CJS-JZ-08 que se encuentra construido sobre (i) la fracción de terreno de
aproximadamente 32,726.53 metros cuadrados y que forma parte de un terreno de mayor superficie identificado como Lote B y (ii) la fracción de terreno de aproximadamente 2,716.85 metros cuadrados que forma parte de un terreno de
mayor superficie identificado como Lote A, localizados en Av. Ramón Rayón No. 9988, en Ciudad Juárez, Chihuahua, México (conjuntamente el edificio y los lotes de terreno se denominarán la “Propiedad
Arrendada”).
  
	 		 	 Lessor and Lessee executed a lease agreement dated on April 15, 2013 (hereinafter, as amended from time to time, the “Lease
Agreement”) with respect to certain building identified as CJS-JZ-08, built over (i) the portion of land of 32,726.53 square meters which is part of a property in greater extension identified as Lot B and (ii) the portion of land of
2,716.85 square meters which is part of a property in greater extension identified as Lot A, located on Av. Ramon Rayon No. 9988, in Ciudad Juarez, Mexico (jointly the building and the plots of land hereinafter will be referred to as the
“Leased Property”).

	 D E C L A R A C I O N E S

 
	 		 	 R E C I T A L S

 

	 Cada una de las partes declaran, a través de sus representantes legales, que:

 
	 		 	Each of the parties state through their legal representatives that:
		 	(a)	 	La persona que suscribe este Convenio en su representación, cuenta con las capacidades legales y las facultades suficientes para celebrar el mismo en su nombre y su representación, mismas que no le han sido	 		 		 	(a)	  	Its legal representative has the necessary authority to enter into this Agreement on its behalf, and such authority has neither been limited nor revoked in any manner whatsoever as of the date hereof. As for

													
		 		 	modificadas, restringidas o revocadas a la fecha del presente Convenio. Por lo que hace al Arrendador, su apoderado cuenta con los poderes y facultades necesarias y suficientes para la celebración del presente Convenio, y que
los apoderados que actúan en representación de su apoderado, cuenta con los poderes y facultades necesarias y suficientes para actuar en representación de dicho apoderado en este Convenio, los cuales no le han sido revocados,
limitados, ni restringidos en forma alguna a la firma del mismo.	 		 		 		 	Lessor, its attorney-in-fact has all necessary powers and authorities to execute this Agreement, and that the attorneys-in-fact acting on behalf of its attorney-in-fact, have all necessary powers and authorities to act on such
attorneys in fact’s behalf in executing this Agreement, which powers and authorities have not been revoked, limited, or restricted in any manner whatsoever as of this date.
							
		 	(b)	 	La celebración, entrega y cumplimiento por las partes del presente Convenio, han sido debidamente autorizados por cualesquiera de los órganos corporativos competentes que se requiera y no violan cualquier ley o
restricción contractual alguna que la obligue o afecte.	 		 		 	(b)	 	This Agreement’s execution, delivery and compliance by the parties have been duly authorized by any required corporate bodies and do not violate any law or contractual restriction that obligates or affects to.
							
		 	(c)	 	Este Convenio constituye para las partes una obligación legal y válida, exigible en su contra de conformidad con sus respectivos términos.	 		 		 	(c)	 	This Agreement constitutes for both parties a legal and binding obligation, enforceable against them in accordance with its respective terms.
							
		 	(d)	 	El Arrendador y la Arrendataria declaran, conjuntamente, que desean celebrar el presente Convenio con el fin de modificar el Contrato de Arrendamiento.	 		 		 	(d)	 	Lessor and Lessee jointly represent that they wish to enter into this Agreement in order to modify the Lease Agreement.
	  
 EN VIRTUD DE LO ANTES EXPUESTO,
las partes convienen en sujetarse a lo dispuesto en las siguientes:
  
	 		 	  
 AS CONSEQUENCE OF THE EXPRESSED
ABOVE, the parties agree to comply with the following:

		 		 	C L Á U S U L A S	 		 	C L A U S E S
	  
 PRIMERA. Por este medio,
el Arrendador y la Arrendataria convienen en modificar únicamente los subincisos 6, 15 y 36 del Inciso 1.01 de la Cláusula Primera del Contrato de Arrendamiento y por consiguiente el Anexo “A” del Contrato de Arrendamiento,
adjunto al presente como Anexo “A”, y en insertar únicamente un subinciso 38 al Inciso 1.01 de la Cláusula Primera del Contrato de Arrendamiento, en el entendido de que, salvo dichos
subincisos y anexo, el resto del Inciso 1.01 de la Cláusula Primera permanece en los mismos términos que en el Contrato de Arrendamiento, para que con efectos a la fecha del presente Convenio, dichos
	 		 	  
 FIRST. By these means,
Lessor and Lessee agree to only modify subsections 6, 15 and 36 of Section 1.01 of Clause First of the Lease Agreement and therefore, the Exhibit “A” of the Lease Agreement, attached herein as Exhibit “A”, and to
insert only a subsection 38 to Section 1.01 of Clause First of the Lease Agreement, provided that, except for such subsections and exhibit, the rest of Section 1.01 of Clause First shall remain in the same terms as provided in the Lease Agreement,
effective as of this Agreement’s date, in order to these subsections and exhibit to be written as follows:

  
 2 

			
	 subincisos y dicho anexo queden redactados como se establece a continuación:

 
	  	
	 “Inciso 1.01. Definiciones. ...

 
	  	 “Section 1.01. Definitions. ...

	 ...
  
	  	 ...

	 (6) “Depósito de Garantía” significa la cantidad de $56,995.89 Dólares.

 
	  	 (6) “Security Deposit” means the amount of $56,995.89 Dollars.

	 ...
  
	  	 ...

	 (15) “Fecha de Vencimiento” significa el 24 de enero de 2019.

 
	  	 (15) “Expiration Date” means January 24, 2019.

	 ...
  
	  	 ...

	 (36) “Terreno” significa (i) el lote de terreno de 33,898.51 metros
cuadrados sobre el cual el Edificio se encuentra construido, identificado como Lote B, ubicado en Ciudad Juárez, Chihuahua, México; y (ii) la fracción de terreno de aproximadamente 6,905.97 metros
cuadrados que forma parte de un terreno mayor con una extensión total aproximada de 90,399.09 metros cuadrados, identificada como Lote A, ubicado en Ciudad Juárez, Chihuahua, México.

 
	  	 (36) “Land” shall mean (i) the plot of land of 33,898.51 square meters over which the Building is constructed,
identified as Lot B located in Ciudad Juárez, Chihuahua, Mexico; and (ii) the portion of 6,905.97 square meters which is part of a property in greater extension with a total surface of 90,399.09 square meters, identified
as Lot A located in Ciudad Juárez, Chihuahua, México.

	 ...
  
	  	 ...

	 (38) “Prórroga” tiene el significado atribuido a dicho término en el Inciso 2.07 de la
Cláusula Segunda de este Contrato.”
  
	  	 (38) “Renewal” shall have the meaning assigned to such term in Section 2.07 of Clause Second
hereof.”

	 SEGUNDA. Por este medio, el Arrendador y la Arrendataria convienen en insertar únicamente un sexto, séptimo, octavo, noveno,
décimo, décimo primero, décimo segundo, décimo tercero, décimo cuarto, décimo quinto, décimo sexto y décimo séptimo párrafo al Inciso 2.04 de la Cláusula Segunda del
Contrato de Arrendamiento, en el entendido de que, salvo dichos párrafos, el resto del Inciso 2.04 de la Cláusula Segunda permanece en los mismos términos
	  	 SECOND. By these means, Lessor and Lessee agree to only insert a sixth, seventh, eighth, ninth, tenth, eleventh, twelfth, thirteenth,
fourteenth, fifteenth, sixteenth and seventeenth paragraph to Section 2.04 of Clause Second of the Lease Agreement, provided that, except for such paragraphs, the rest of Section 2.04 of Clause Second shall remain in the same terms as provided in
the Lease Agreement, effective as of this Agreement’s date, in

  
 3 

			
	 que en el Contrato de Arrendamiento, para que con efectos a la fecha del presente Convenio, dichos párrafos queden redactados como se
establece a continuación:
  
	  	order to these paragraphs to be written as follows:
	 “Inciso 2.04. Renta. ...

 
	  	 “Section 2.04. Rent. ...

	 ...
  
	  	 ...

	 ...
  
	  	 ...

	 ...
  
	  	 ...

	 ...
  
	  	 ...

	 A partir del 25 de enero de 2014, la Arrendataria pagará al Arrendador por el arrendamiento
de la Propiedad Arrendada, una renta mensual de $0.3626 Dólares por pie cuadrado de la Nave Industrial, es decir, la cantidad mensual de $48,209.44 Dólares (la “Renta II”), o su equivalente en Pesos al tipo de cambio
publicado por el Banco de México en el Diario Oficial de la Federación (para solventar obligaciones denominadas en moneda extranjera pagaderas en México) en la fecha de pago o en el Día Hábil inmediato anterior (en
caso de que la fecha de pago no sea un Día Hábil), más IVA.
  
	  	 As of January 25, 2014, Lessee shall pay Lessor, for the lease of the Leased Property, a monthly rent of $0.3626 Dollars per square
feet of the Industrial Facility, that is, the monthly amount of $48,280.95 Dollars (the “Rent II”), or its equivalent in Pesos at the exchange rate published by the Banco de México in the Federal Official Gazette (to satisfy
obligations denominated in foreign currency in Mexico) in effect on the payment date or on the immediately preceding Business Day (in the event that the payment date is not a Business Day), plus VAT.

	 A partir del 25 de enero de 2014 y hasta el 24 de enero de 2019, la Arrendataria pagará al Arrendador, además de la
Renta II, por el arrendamiento de la Propiedad Arrendada, una renta mensual de $0.0316 Dólares por pie cuadrado de la Nave Industrial, es decir, la cantidad mensual de $4,209.44 Dólares (la “Renta III”). o su
equivalente en Pesos al tipo de cambio publicado por el Banco de México en el Diario Oficial de la Federación (para solventar obligaciones denominadas en moneda
	  	 As of January 25, 2014 and until January 24, 2019, Lessee shall pay Lessor in addition to Rent II, for the lease of the Leased
Property, a monthly rent of $0.0316 Dollars per square feet of the Industrial Facility, that is, the monthly amount of $4,209.44 Dollars (the “Rent III”), or its equivalent in Pesos at the exchange rate published by the Banco de
México in the Federal Official Gazette (to satisfy obligations denominated in foreign currency in Mexico) in effect on the payment date or on

  
 4 

			
	 extranjera pagaderas en México) en la fecha de pago o en el Día Hábil inmediato anterior (en caso
de que la fecha de pago no sea un Día Hábil), más IVA.
  
	  	 the immediately preceding Business Day (in the event that the payment date is not a Business Day), plus VAT.

	 La Renta, la Renta II y la Renta III serán indistintamente o conjuntamente identificadas
como la “Renta”, según sea aplicable.
  
	  	 The Rent, the Rent II and the Rent III shall indistinctively or collectively identified as the “Rent”, as
applicable.

	 Las partes acuerdan que, en caso de que la Arrendataria decida ejercer su Prórroga de
conformidad con lo establecido en el presente Contrato, la Renta que corresponderá al periodo de la Prórroga será determinada por el Arrendador y la Arrendataria a partir de los 180 días naturales de anticipación a
la Fecha de Vencimiento, en el entendido de que, en ningún caso y bajo ninguna circunstancia, la Renta podrá ser inferior al 95% (noventa y cinco por ciento) del valor anual de mercado de una renta para edificios industriales similares
en Ciudad Juárez, Chihuahua multiplicado por los pies cuadrados de la Nave Industrial.
  
	  	 The parties agree that, in the event the Lessee exercises its Renewal in terms of this Lease Agreement, the Rent that will be
applicable for the Renewal shall be determined by Lessor and Lessee as of the 180 calendar days prior to the Expiration Date, provided that, in all cases the Rent shall not be less than 95% (ninety five percent) of the annual market rental rate for
comparable industrial buildings in Ciudad Juarez, Chihuahua multiplied by the square feet of the Industrial Facility.

	 Para efecto de lo establecido en el párrafo anterior, el “precio anual de renta a
valor mercado para edificios industriales similares” deberá ser determinada en base a las condiciones de los edificios industriales en Ciudad Juárez considerando: (i) la edad de los edificios; (ii) el tamaño de
los edificios; y (iii) las mejoras que los edificios tengan.
  
	  	 For purposes of the abovementioned paragraph, the “market rental rate for comparable industrial buildings” shall be
determined based on the conditions of the industrial buildings in Ciudad Juarez considering: (i) the age of the buildings; (ii) the size of the buildings; and (iii) the improvements that the buildings have.

	 Las partes acuerdan que el proceso para determinar el precio final de renta a valor mercado para la Prórroga será el
siguiente:
	  	 The parties agree that the process for determining a final market rental rate for the Renewal will be as follows:

  
 5 

			
	 1.- Dentro de los 15 días naturales siguientes a la fecha en que se cumplan los 180
días naturales de anticipación a la Fecha de Vencimiento, el Arrendador deberá proponer a la Arrendataria el precio de renta a valor mercado para ser aplicado durante dicha Prórroga, en el entendido de que, la
Arrendataria, dentro de los 15 días naturales siguientes a la recepción de la propuesta del precio de renta por parte del Arrendador (el “Término de Respuesta de la Arrendataria”), deberá va sea (a)
aceptar la propuesta del Arrendador mediante aviso por escrito entregado al Arrendador; o (b) notificar por escrito al Arrendador una contrapropuesta del precio de renta a valor mercado a ser aplicado durante la Prórroga. En caso de que la
Arrendataria no notifique al Arrendador por escrito ya sea, su aceptación a la propuesta del precio de renta a valor mercado o su contrapropuesta al precio de renta a valor mercado dentro del Término de Respuesta de la Arrendataria,
entonces, la propuesta del Arrendador deberá ser considerada como aceptada por la Arrendataria.
  

2.- En caso de que la Arrendataria entregue al Arrendador una contrapropuesta del precio de renta a ser aplicado
durante la Prórroga, el Arrendador dentro de los 15 días naturales siguientes a la recepción de la propuesta de la Arrendataria (el “Término de Respuesta del Arrendador”), deberá ya sea (y) aceptar
la propuesta de la Arrendataria mediante aviso por escrito entregado a la Arrendataria o (z) notificar a la Arrendataria por
	 	 1.- Within 15 calendar days to the date on which the 180 calendar days prior to the Expiration
Date commence, Lessor will propose to Lessee the market rental rate to be applied during such Renewal, provided that, Lessee shall within the following 15 calendar days after receiving Lessor’s rental rate proposal (“Lessee’s
Response Term”), either (a) accept Lessor’s proposal through written notice delivered to Lessor or (b) notify Lessor in writing a counterproposal of the rental rate to be applied during the Renewal. In the event Lessee does not notify
Lessor in writing either its acceptance of the rental rate or its new proposal for the rental rate within the Lessee’s Response Term, then Lessor’s proposal shall be deemed as accepted by Lessee.

 
 2.- In the event Lessee provides Lessor a
counterproposal of the rental rate to be applied during the Renewal, Lessor shall within the following 15 calendar days after receiving Lessee’s proposal (“Lessor’s Response Term”), either (y) accept Lessee’s proposal
through written notice delivered to Lessee or (z) notify Lessee in writing its rejection of Lessee’s proposal. In the event Lessor does not notify Lessee in writing either its acceptance or rejection of the proposed rental rate within
Lessor’s Response Term, then, Lessee’s proposal shall be deemed as accepted by Lessor.
  

3.- If Lessor rejects Lessee’s rental rate proposal in terms of

  
 6 

			
	 escrito su rechazo a la contrapropuesta de la Arrendataria. En caso de que el Arrendador no notifique a la
Arrendataria por escrito ya sea, su aceptación o rechazo de la contrapropuesta del precio de renta a valor mercado dentro del Término de Respuesta del Arrendador, entonces, la propuesta de la Arrendataria deberá ser considerada
como aceptada por el Arrendador.
  
 3.- Si
el Arrendador rechaza la contrapropuesta de la Arrendataria al precio de renta en términos del presente Inciso, cada una de las partes estará obligada a designar, a su solo costo y gasto, un despacho de valuadores de buena
reputación autorizado para realizar avalúos en México y específicamente con por lo menos 5 años de experiencia en arrendamientos industriales y de almacén en Ciudad Juárez, Chihuahua. Cada uno de los
despachos de valuadores deberá enviar su propuesta de precio de renta a valor mercado dentro de los siguientes 15 días naturales a la notificación del Arrendador a la Arrendataria en términos del párrafo 2
anterior.
  
 4.- En caso de que los
despachos de valuadores del Arrendador y la Arrendataria no proporcionen un precio de renta aceptable tanto para el Arrendador como para la Arrendataria, entonces, los despachos de valuadores del Arrendador y la Arrendataria deberán nombrar a
un tercer despacho de valuadores quien dentro de los 15 días naturales siguientes a la fecha de su designación, deberá proporcionar un precio de renta, mismo que
	 	 this Section, each party shall be obligated to appoint, at its own cost and expense, a reputable appraiser firm
authorized to perform appraisals in Mexico and specifically with at least 5 years of experience in industrial and warehouse leasing in the vicinity of Ciudad Juárez, Chihuahua. Each appraiser firm shall provide its rental rate recommendation
within the following 15 calendar days after Lessor’s notice to Lessee in terms of subsection 2 above.
  

4.- In the event that, Lessor’s and Lessee’s appraiser firms does not provide an agreeable rental rate for
both, Lessor and Lessee, then, Lessor’s and Lessee’s appraiser firms shall appoint a third appraiser firm, who within the following 15 calendar days after its appointment, shall provide a rental rate which shall be the final rate (the
“Final Rental Rate”).
  

5.- The Final Rental Rate will be determined by the third appraiser firm and shall be a rental rate comprised within
Lessor’s and Lessee’s rental rate proposal provided by their respective appraiser firms in terms of subsection 3 above, including either the proposal made by Lessor’s or Lessee’s appraiser firms or a rate between such
proposed rental rates. The determination by the third appraiser firm of the Final Rental Rate to be applied for the Renewal shall be binding, final and conclusive on the parties.

 
 6.- All costs and expenses

  
 7 

			
	 deberá ser el precio de renta final (el “Precio de Renta Final”).

 
	 	 resulting for the appointment of a third appraiser firm shall be shared equally by Lessor and Lessee.”

	 5.- El Precio de Renta Final será determinado por el tercer despacho de valuadores y deberá ser una renta comprendida
dentro de la propuesta de precio de renta realizada por el despacho de valuadores del Arrendador y la propuesta de precio de renta realizada por el despacho de valuadores de la Arrendataria en términos del párrafo 3 anterior,
incluyendo cualquiera de dichas propuestas realizadas por los despachos de valuadores del Arrendador y de la Arrendataria o un precio de renta que se encuentre dentro del rango de dichas propuestas realizadas por los despachos de valuadores del
Arrendador y la Arrendataria. La determinación del tercer despacho de valuadores del Precio de Renta Final a ser aplicada durante la Prórroga será obligatoria, final y concluyente para las partes.
	 	 (intentionally blank)

	  
 6.- Todos los costos y gastos
que deriven de la designación del tercer despacho de valuadores deberán ser compartidos en partes iguales por el Arrendador y la Arrendataria.”
	 	 (intentionally blank)

	  
 TERCERA. Por este medio, el
Arrendador y la Arrendataria convienen en insertar un Inciso 2.07 a la Cláusula Segunda del Contrato de Arrendamiento, en el entendido de que, salvo dicho inciso, el resto de la Cláusula Segunda permanece en los mismos términos
que en el Contrato de Arrendamiento, para que con efectos a la fecha del presente Convenio, dicho inciso quede redactado como se establece a continuación: 
  

“Inciso 2.07. Prórrogas. El Término Inicial se prorrogará por 2
períodos adicionales consecutivos de 5 años forzosos cada uno, previa notificación por
	 	  
 THIRD. By these means, Lessor and
Lessee agree to insert a Section 2.07 to Clause Second of the Lease Agreement, provided that, except for such section, the rest of Clause Second shall remain in the same terms as provided in the Lease Agreement, effective as of this Agreement’s
date, in order to this section to be written as follows: 
  

“Section 2.07. Renewals. The Initial Term shall be extended for 2 additional consecutive
mandatory periods of 5 years each with prior written notice provided

  
 8 

			
	 escrito entregada por la Arrendataria con por lo menos 180 días naturales de anticipación a la Fecha de
Vencimiento o a la fecha de vencimiento del periodo de prórroga vigente en ese momento, según sea el caso; en el entendido de que, el Arrendador podrá cancelar cualquier prórroga en cualquier momento antes de su inicio,
si la Arrendataria se encuentre en incumplimiento con cualquiera de sus obligaciones conforme al presente Contrato.
  

El primer período de prórroga iniciará el día calendario inmediato siguiente a la Fecha
de Vencimiento y terminará 5 años después. El segundo periodo de prórroga iniciará el día calendario inmediato siguiente a la fecha de vencimiento del primer periodo de prórroga y terminará 5
años después.
  
 En lo
sucesivo, a los períodos de prórroga conforme a este Inciso se les denominará, conjuntamente o individualmente a cada uno de ellos, como “Prorroga”.”
	 	 by Lessee with at least 180 calendar days prior to the Expiration Date or to the expiration date of the renewal period
effective at that moment, as the case may be; in the understanding that, Lessor may cancel any renewal at any time prior to its commencement, in the event that Lessee is in breach of any of its obligations hereunder.

 
 The first renewal period shall commence on the
calendar day immediately following the Expiration Date and shall end 5 years thereafter. The second renewal period shall commence on the calendar day immediately following the expiration date of the first renewal period and shall end 5 years
thereafter.
  
 Hereinafter, all renewal
periods under this Section shall be, jointly or individually, referred to as “Renewal”.”

	  
 CUARTA. Por este medio, el Arrendador
y la Arrendataria convienen en insertar un Inciso 2.08 a la Cláusula Segunda del Contrato de Arrendamiento, en el entendido de que, salvo dicho inciso, el resto de la Cláusula Segunda permanece en los mismos términos que en el
Contrato de Arrendamiento, para que con efectos a la fecha del presente Convenio, dicho inciso quede redactado como se establece a continuación:
  

“Inciso 2.08. Edificio. Las partes acuerdan que la Arrendataria podrá ocupar el Espacio B
a partir del 25 de septiembre de 2013, en los mismos términos y condiciones que el Espacio A, en
	 	  
 FOURTH. By these means, Lessor and
Lessee agree to insert a Section 2.08 to Clause Second of the Lease Agreement, provided that, except for such section, the rest of Clause Second shall remain in the same terms as provided in the Lease Agreement, effective as of this Agreement’s
date, in order to this section to be written as follows:
  

“Section 2.08. Building. The parties agree that Lessee may occupy the Space B as of
September 25, 2013, in the same terms and conditions as the Space \ A provided that, in the event that

  
 9 

			
	 el entendido de que, en caso de que el Espacio B sea dañado o sufra algún percance derivado del acceso
de la Arrendataria, sus empleados, agentes, contratistas, subcontratistas y/o visitantes, de las operaciones de la Arrendataria o de la negligencia o uso incorrecto de la Propiedad Arrendada o del Espacio B por parte de la Arrendataria, sus
empleados, agentes, contratistas, subcontratistas y/o visitantes, la Arrendataria será responsable a su costo, riesgo y gasto, de las acciones o reparaciones que sean necesarias llevar a cabo en o al Espacio B y/o al Edificio para regresar el
Espacio B y/o el Edificio al estado inmediato anterior a dicho daño.
  

Adicionalmente, las partes acuerdan que, a partir del 25 de septiembre de 2013, la definición de
“Propiedad Arrendada” también incluirá y significará el Terreno y la totalidad del Edificio, incluyendo el Espacio A y el Espacio B, así mismo, cualquier referencia al Espacio A, deberá entenderse como
realizada respecto del Edificio, es decir, incluyendo al Espacio A y al Espacio B.”
	 	 the Space B is damaged or suffers any mishap as a result that the Lessee, its employees, agents, contractors,
subcontractors and/or visitors access the Space B, or as a result of Lessee’s operations or as a result of the negligence or misuse of the Leased Property or the Space B by the Lessee, its employees, agents, contractors, subcontractors and/or
visitors, the Lessee will be responsible at its own cost, risk and expense, of the actions or repairs needed to carry out in or to the Space B and/or the Building in order to return the Space B and/or the Building to its condition immediately
prior to such damage or mishap.
  

Furthermore, the parties agree that, as of September 25, 2013, the definition of “Leased Property” shall
also include and mean the Land and the Building, including Space A and Space B, likewise, any reference to the Space A shall be understood as made regarding the Building, meaning, the Space A and the Space B
collectively.”

	  
 QUINTA. Por este medio, el Arrendador
y la Arrendataria convienen en insertar un Inciso 8.02 a la Cláusula Octava del Contrato de Arrendamiento, en el entendido de que, salvo dicho inciso, el resto de la Cláusula Octava permanece en los mismos términos que en el
Contrato de Arrendamiento, para que con efectos a la fecha del presente Convenio, dicho inciso quede redactado como se establece a continuación:
  

“Inciso 8.02. Opción de Terminación Anticipada. Las partes acuerdan por este medio
que, en caso de que el contrato de arrendamiento que la Arrendataria mantiene respecto
	 	  
 FIFTH. By these means, Lessor and
Lessee agree to insert a Section 8.02 to Clause Eighth of the Lease Agreement, provided that, except for such section, the rest of Clause Eighth shall remain in the same terms as provided in the Lease Agreement, effective as of this Agreement’s
date, in order to this section to be written as follows:
  

“Section 8.02. Early Termination Option. The parties agree that, in the event the lease
agreement that Lessee maintains regarding the adjacent building to the Leased Property identified as CJS-JZ-11

  
 10 

			
	 del edificio adyacente a la Propiedad Arrendada e identificado como CJS-JZ-11 sea terminado por cualquier razón o circunstancia, entonces, el
Arrendador tendrá la opción, sin estar obligado a ello, de dar por terminado anticipadamente el presente Contrato de Arrendamiento, mediante simple aviso por escrito entregado a la Arrendataria, sin ninguna obligación posterior
por parte del Arrendador y sin necesidad de una resolución judicial (la “Opción de Terminación Anticipada”).
	 	 is terminated by any reason or circumstance, then, Lessor shall have the option, without being obligated
to, early terminate this Lease Agreement, by written notice sent to Lessee, without any subsequent obligation for Lessor and without the need of prior judicial resolution to that effect (the “Early Termination Option”).

 
 In the event that Lessor decides to exercise
its Early Termination Option, Lessor will send a written notice to Lessee regarding its intention to early terminate this Lease, indicating the date from which Lessor’s intend to terminate it, provided that, once such notice is sent by Lessor
to Lessee, Lessee shall immediately commence its exit process and surrender of the Leased Property back to Lessor in the terms and conditions of this Lease Agreement, provided that, the surrender date for the possession of the Leased
Property back to Lessor shall not be extended beyond 45 calendar days after the date on which the notice was sent by Lessor exercising its Early Termination Option.
  

In connection with the foregoing, the parties agree that, unless for the terms and conditions established in this
Section, all terms and conditions established in this Lease Agreement for the delivery and surrender of the Leased Property shall be applicable to Lessee in the event Lessor exercises its Early Termination Option, including without limiting, the
established in Clause Seventh of this Lease Agreement.”

	  
 En caso de que el Arrendador
decida ejercer su Opción de Terminación Anticipada, el Arrendador dará aviso por escrito a la Arrendataria su deseo de dar por terminado el presente Contrato, indicando la fecha a partir de la cual desea darlo por terminado, en
el entendido de que, una vez enviado dicho aviso por escrito del Arrendador a la Arrendataria, la Arrendataria deberá inmediatamente comenzar su proceso de salida y entrega de la posesión de la Propiedad Arrendada al Arrendador de
conformidad con los términos y condiciones del presente Contrato, en el entendido de que, la fecha de entrega de la posesión de la Propiedad Arrendada al Arrendador no deberá extenderse más allá de los 45
días naturales siguientes al envío del aviso por parte del Arrendador ejerciendo su Opción de Terminación Anticipada.
	 
	  
 En relación con lo
anterior, las partes hacen constar que, salvo por las tiempos y condiciones estipuladas en el
	 

  
 11 

			
	 presente Inciso, todos los términos y condiciones estipulados en el presente Contrato en relación con la entrega o retraso en la entrega de
la Propiedad Arrendada serán aplicables a la Arrendataria en caso de que el Arrendador ejerza su Opción de Terminación Anticipada, incluyendo sin limitar, lo establecido en la Cláusula Séptima del presente
Contrato.”
	 	(intentionally blank)
		
	 SEXTA. Por este medio, el Arrendador y la Arrendataria convienen en modificar la Cláusula Novena y el Inciso 9.01 de la Cláusula
Novena del Contrato de Arrendamiento y por consiguiente incluir un Anexo “E” al Contrato de Arrendamiento, adjunto al presente como Anexo “C”, para que con efectos a la fecha del presente Convenio, dicha
Cláusula, dicho inciso y anexo queden redactados como se establece a continuación:
	 	 SIXTH. By these means, Lessor and Lessee agree to modify Clause Ninth and Section 9.01 of Clause Ninth of the Lease Agreement and therefore to
include an Exhibit “E” to the Lease Agreement, attached herein as Exhibit “C”, effective as of this Agreement’s date, in order to such Clause, Section and exhibit to be written as follows:

		
	 “CLAUSULA NOVENA

MEJORAS
	 	 “CLAUSE NINTH

IMPROVEMENTS

		
	 Inciso 9.01. Mejoras. Las partes acuerdan por este medio que el Arrendador llevará a cabo ciertas mejoras en la Propiedad Arrendada,
mismas que se encuentran especificadas en el Anexo “E” adjunto al presente (las “Mejoras”).
	 	 Section 9.01. Improvements. The parties agree by these means, that Lessor will carry out certain improvements to the Leased Property, which
are specified in Exhibit “E” attached hereto (the “Improvements”).

		
	 Asimismo, las partes acuerdan que las Mejoras, una vez realizadas, formarán parte de la Propiedad Arrendada,
permanecerán en favor de la misma y serán propiedad del Arrendador. La Arrendataria no podrá modificar dichas Mejoras sin previa autorización por escrito del Arrendador.
	 	 Likewise, the parties agree that the Improvements, once completed, will be part of the Leased Property, shall remain in favor of the
Leased Property and will be property of Lessor. Lessee shall not modify such Improvements without previous written approval from Lessor.

		
	 En relación con lo anterior, las partes acuerdan que la Renta deberá ser cubierta en su totalidad en todo momento y la
Arrendataria no podrá retener o realizar deducción alguna a la
	 	 In connection with the foregoing, the parties agree that the Rent shall be paid in full at all times and Lessee is not allowed to
abate or withhold the Rent as a result of the Improvements

  
 12 

			
	 Renta en virtud de estas Mejoras.”
	 	 referred in this Clause.”

		
	 SEPTIMA. Por este medio, el Arrendador y la Arrendataria convienen en insertar únicamente un noveno párrafo al Inciso 10.01 de
la Cláusula Décima del Contrato de Arrendamiento, en el entendido de que, salvo dicho párrafo, el resto de la Cláusula Décima permanece en los mismos términos que en el Contrato de Arrendamiento, para que
con efectos a la fecha del presente Convenio, dicho párrafo quede redactado como se establece a continuación:
	 	 SEVENTH. By these means. Lessor and Lessee agree to only insert a ninth paragraph to Section 10.01 of Clause Tenth of the Lease Agreement,
provided that, except for such paragraph, the rest of Clause Tenth shall remain in the same terms as provided in the Lease Agreement, effective as of this Agreement’s date, in order to such paragraph to be written as follows:

		
	 “Inciso 10.01. ...
	 	 “Section 10.0. ...

		
	 ...
	 	 ...

		
	 ...
	 	 ...

		
	 ...
	 	 ...

		
	 ...
	 	 ...

		
	 ...
	 	 ...

		
	 ...
	 	 ...

		
	 ...
	 	 ...

		
	 Las partes acuerdan que la Arrendataria estará facultada para compartir el tanque y la bomba del Sistema Contra Incendios de
la Propiedad Arrendada con el edificio adyacente a la Propiedad Arrendada identificado como CJS-JZ-11 durante el Término del presente Contrato y en tanto el contrato de arrendamiento que mantiene la Arrendataria respecto de dicho edificio
CJS-JZ-11 se encuentre en pleno vigor y efecto, en el entendido de que la Arrendataria será la única responsable respecto de cualquier daño, mantenimiento, reparación o remplazo que sea necesario a dicho tanque, bomba o
Sistema Contra Incendio derivado de su uso por la propiedad identificada como CJS-JZ-11.”
	 	 The parties agree that Lessee shall be able to share the tank and pump of the Fire Protection System of the Leased Property with the
adjacent building to the Leased Property identified as CJS-JZ-11 during the Term of this Lease Agreement and as long as the lease agreement that Lessee maintains regarding such building CJS-JZ-11 is in full force and effect, provided that, Lessee
shall be the sole responsible regarding any damage, maintenance, repair or replacement necessary to such tank, pump or Fire Protection System derived from its use by the property identified as CJS-JZ-11.”

  
 13 

			
	 OCTAVA. Por este medio, el Arrendador y la Arrendataria convienen en modificar la Cláusula Décima Segunda y el Inciso 12.01 del
Contrato de Arrendamiento y por consiguiente el Anexo “D” y Anexo “D-1” del Contrato de Arrendamiento, adjuntos al presente como Anexo “B” y Anexo “B-1”. para que con efectos a
la fecha del presente Convenio, dicha Cláusula, Inciso y anexos queden redactados como se establece a continuación:
	 	 EIGHTH. By these means, Lessor and Lessee agree to modify Clause Twelfth and Section 12.01 of the Lease Agreement and therefore the Exhibit
“D” and Exhibit “D-1” of the Lease Agreement, attached herein as Exhibit “B” and Exhibit “B-1”, effective as of this Agreement’s date, in order to such Clause, Section and
exhibits to be written as follows:

		
	 “CLAUSULA DECIMA SEGUNDA

ACCESO A LA PROPIEDAD ARRENDADA
	 	 “CLAUSE TWELFTH

ACCESS TO THE LEASED PROPERTY

		
	 Inciso 12.01. Acceso a la Propiedad Arrendada. Las partes reconocen que el acceso a la Propiedad Arrendada previo al 25 de septiembre de
2013, era según se describe en el Anexo “D” del presente Contrato, sin embargo, a partir de del 25 de septiembre de 2013, dicho acceso será modificado según se describe en el
Anexo “D-1” del presente Contrato.
	 	 Section 12.01. Access to the Leased Property. The parties acknowledge that the access to the
Leased Property before September 25, 2013 was as described in Exhibit “D” hereof, however, as of September 25, 2013, such access shall be modified as described in Exhibit
“D-1” hereof.
  

In the event the lease agreement that Lessee maintains regarding the adjacent building to the Leased Property
identified as CJS-JZ-11 is terminated for any reason, the parties agree that the access to the Leased Property shall be modified to its original form prior to September 25, 2013, as established in Exhibit “D”
hereof, provided such access shall be documented through an amendment agreement to this Lease Agreement.”

	  
 En caso de que el contrato de
arrendamiento que la Arrendataria mantiene respecto del edificio adyacente a la Propiedad Arrendada e identificado como CJS-JZ-11 sea terminado por cualesquiera razones, las partes acuerdan que el acceso a la Propiedad Arrendada será
modificado a su estado original previo al 25 de septiembre de 2013, de conformidad con el Anexo “D” del presente Contrato, en el entendido de que, dicho acceso deberá ser documentado a través de un
convenio modificatorio al presente Contrato de Arrendamiento.”
	 

  
 14 

			
	 NOVENA. Por este medio, las partes acuerdan que a partir de la fecha del presente Convenio, cualquier referencia incluida en el Contrato de
Arrendamiento en relación con el Derecho de Primera Oferta o la Opción para Arrendar dejarán de ser aplicables y cualesquiera referencias realizadas respecto de la Propiedad Arrendada también incluirá y
significará el Terreno y la totalidad del Edificio, incluyendo el Espacio A y el Espacio B, así mismo, cualquier referencia al Espacio A, deberá entenderse como realizada respecto del Edificio, es decir, incluyendo al Espacio A
y al Espacio B.
	 	 NINTH. By these means, the parties agree that as of this Agreement’s date, any reference in the Lease Agreement in connection with the
Right of First Offer or the Right of Lease shall cease to be applicable and any reference made regarding the Leased Property shall also include and mean the Land and the entire Building, including Space A and Space B, likewise, any reference to the
Space A shall be understood as made regarding the Building, meaning, the Space A and the Space B collectively.

		
	 DECIMA. NO NOVACION El Arrendador y la Arrendataria expresamente convienen en que en ningún caso deberá entenderse
o interpretarse este Convenio, como novación o cumplimiento de las obligaciones de la Arrendataria conforme al Contrato de Arrendamiento, las que permanecerán en pleno vigor y efecto sin ninguna otra obligación o
modificación que las modificaciones contenidas en este Convenio. Las partes por este medio confirman y ratifican en todos sus aspectos las disposiciones del Contrato de Arrendamiento que no sean expresamente modificadas en este
Convenio.
	 	 TENTH. NON-NOVATION. The Lessor and the Lessee expressly agree that in no event this Agreement shall be deemed as novation nor
as compliance of the Lessee’s obligations regarding the Lease Agreement, that shall stay in fully valid and in force with no other obligation or amendment than the ones contained herewith. The parties, by this mean confirm and ratify in every
aspect the provisions of the Lease Agreement that are not expressly amended hereto.

		
	 DECIMA PRIMERA. LEY Y JURISDICCION APLICABLE. Para la interpretación y cumplimiento del Contrato de Arrendamiento y del
presente Convenio, las partes se someten expresamente a las leyes del Estado de Chihuahua, México. Las partes en este acto expresamente someten cualquier disputa, controversia o demanda que surja de o se relacione con el Contrato de
Arrendamiento y con este Convenio o su incumplimiento, rescisión o invalidez, a la jurisdicción de los tribunales competentes de Ciudad Juárez, Chihuahua, México o del Distrito Federal, México, a elección de
la parte actora. Las partes por este medio renuncian a cualquier otra jurisdicción que les pudiera corresponder en el futuro por razón de sus domicilios presentes o futuros.
	 	 ELEVENTH. APPLICABLE LAW AND JURISDICTION. For the interpretation and compliance of the Lease Agreement and this Agreement, the parties
expressly submit themselves to the laws of the State of Chihuahua, Mexico. The parties hereby expressly submit any dispute, controversy or lawsuit arising from or in connection with the Lease Agreement and with this Agreement or their default,
rescission or invalidity to the jurisdiction of the competent courts of Ciudad Juárez, Chihuahua, Mexico or the Federal District, Mexico, at the plaintiff option. The parties hereby waive to any other jurisdiction that could correspond to
them in the future as consequence of their respective domiciles either current or futures.

		
	 DECIMA SEGUNDA. INTEGRACION. Queda expresamente convenido que el presente Convenio es parte integrante del Contrato de
Arrendamiento y, por consiguiente, todas las referencias que se hagan en o con respecto al Contrato de Arrendamiento, se entenderán que incluyen al presente Convenio.
	 	 TWELFTH. INTEGRATION. It is expressly agreed that this Agreement is an integral part of the Lease Agreement and, consequently, all the
references thereto or therewith shall be deemed as including this Agreement.

  
 15 

			
	 DECIMA TERCERA. TRADUCCIÓN. Este Convenio se suscribe tanto en español como en inglés, y ambos textos
serán obligatorios y constituirán uno y el mismo documento; en el entendido, sin embargo, que en caso de discrepancia entre ambos textos, la versión en español prevalecerá.
	 	 THIRTEENTH. TRANSLATION. This Agreement is executed both in Spanish and English, and both versions shall be binding and
constitute on and the same document; in the understanding that, in the event of a difference between both texts, the Spanish version shall prevail.

	  
 EN TESTIMONIO DE LO ANTERIOR, las partes del
presente Convenio lo suscriben por conducto de sus representantes legales debidamente autorizados para ello, con efectos en la fecha indicada al principio de este Convenio.
	 	  
 IN WITNESS WHEREOF, this Agreement’s
parties execute it through their representatives, duly authorized for such effect and to be effective as of the date mentioned at the beginning of this Agreement.

	  
 EL ARRENDADOR/LESSOR

 
	 	  
 LA ARRENDATARIA/LESSEE

 

	MACQUARIE MEXICO REAL ESTATE MANAGEMENT, S.A. DE C.V. COMO APODERADO DE DEUTSCHE BANK MÉXICO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, DIVISIÓN FIDUCIARIA, COMO FIDUCIARIO DEL FIDEICOMISO
F/1638	 	 TPI-COMPOSITES,

S. DE R.L. DE C.V.

		
		 	 /s/ Paul Herbert Hahnenberger Jr.

	 /s/ Peter M. Gaul
	 	Por/By: Paul Herbert Hahnenberger Jr.
	Por/By: Peter Gaul	 	Cargo/Title: Apoderado / Attorney-in-fact
		
	 /s/ Jaime Lora Medellin
	 	
	Por/By: Jaime Lora Medellin	 	

  
 16 

  
 

 

 Exhibit “B” / Anexo “B” 

Exhibit “D” / Anexo “D” 
  

 

 Exhibit “B-1” / Anexo “B-1” 

 
 

 

 Anexo “C” 

Anexo “E” 

DESCRIPCION DEL ALCANCE Y ESPECIFICACION DE LOS PROYECTOS A REALIZAR EN EL EDIFICIO TPI PARA CADA UNA DE LAS PARTIDAS A REALIZAR 

1.0 – ENTRADA DE TRAILERS Y CASETA DE VIGILANCIA: 

1.10 ENTRADA PARA TRAILERS: 
 En esta partida se pretende
elaborar un acceso desde la calle Percherón al interior de la propiedad que incluye rampa y puerta corrediza cuyos trabajos a realizar para lograr este propósito son : todas las demoliciones necesarias en la barda colindante con calle
Percherón, para permitir el acceso por este lado poniente del Edificio tales cómo, remoción de malla ciclónica; banqueta de concreto exterior, guarniciones de concreto y elaborar un rampa de acceso de 12 ml de ancho en la
entrada y desde la calle hasta la vialidad interna de la propiedad del edificio cuyo trabajo comprende las terracerías necesarias y con pendiente apropiada al tráfico de trailers específicos, plancha de concreto de f’c de
20 cm espesor f’c = 250 kg/cm2 y reforzada con acero del # 3 @ 30 cm en ambos sentidos, muros laterales de contención de 20 cm de espesor rellenos con concreto y reforzados con acero de 13 mm de diámetro, postes fantasmas de acero
de 8” diámetro x 75 cm de altura sobre el nivel de la plancha de concreto de la rampa por el lado donde se construirá la caseta de guardias; también se incluye en esta partida una puerta elaborada con perfiles tubulares, y
accionada por motor eléctrico de 1 Hp con control remoto coordinado por los oficiales de guardias de seguridad; escalera peatonal para accesar de la calle a la caseta de guardias. 

1.20 CASETA DE VIGILANCIA DE 3 ML X 4 ML X 2.75 ML INTERIOR: 

Para coordinar los accesos y salidas de trailers del edificio se contempla la construcción de una caseta de guardias de 3 ml de ancho x 4 ml de largo x
2.75 ml de altura, construida con su respectiva cimentación, muros de block de concreto de 20 cm espesor, losa de techo de concreto reforzado; acabado de yeso en interior, piso de concreto acabado en loseta vinílica de 3 mm de espesor;
zoclo vinílico rígido en el interior; instalaciones eléctricas necesarias cómo alumbrado tomas eléctricas, disparos de voz datos y disparo telefónico; clima con mini Split de enfriamiento y
calefacción; aplanado de mezcla en muros exteriores; pintura interior y exterior impermeabilización con pintura elastomérica; ventanas fijas de cancelería de aluminio en los 4 lados de la caseta de 91 cm de alto, puerta
de acceso de cancelería de aluminio; lote de controles de operación de la puerta tubular de acceso de trailers. 
 2.00 SANITARIO DE
HOMBRES: 
 Para permitir el servicio sanitario a la población de producción de la planta se contempla construir un área de
servicios sanitarios para hombres, con capacidad de 7 sanitarios regulares, 1 sanitario para minusválidos, 8 mingitorios y 9 lavabos, con un pasillo de servicio y otro de acceso, cuyos trabajos a realizar para lograr este propósito
son, demoliciones necesarias tales como, apertura de hueco en muro 

 
de tilt-up para accesar a los nuevos baños, plataforma de cimentación elaborada con caliche compactado, techumbre de estructura metálica, cubierta de lámina
galvanizada, plancha de concreto para ovalines, muro de block de concreto de 20 cm espesor, reforzado vertical y horizontalmente, piso de concreto de 10 cm espesor f’c = 200 Kg/cm2, piso de cerámica de 30 x 30 cm ó similar,
aplanado de mezcla en muros exteriores, recubrimiento con loseta de cerámica en muros de 15 x 25 en muros y plancha de ovalines, plafón acústico, impermeabilización y aislamiento de 1 1/2” espesor acabado en pintura
elastomérica de 10 años de garantía, instalaciones hidráulicas y sanitarias en su totalidad, 1 tarja de piso, puerta metálica con cerradura y cierrapuertas, mamparas de sanitarios estándar, para
minusválidos y mingitorios de acero inoxidable 304, sanitario taza tanque marca Kohler alagado equipado con asiento rígido sin tapa, mingitorio Kohler trampa integrada operado por llave de resorte, ovalín Kohler blanco equipado
con llave mezcladora de yugo de 4” marca delta ó similar de una sola manivela, jaboneras de acero inoxidable necesarias para jabón líquido, 2 despachadores de toallas de papel secador, un juego de barras de
minusválidos de 36”, una tarja de piso de 24” x 24”, de plástico, pintura vinílica en muros interiores de pasillos y exteriores de muro, instalaciones eléctricas necesarias donde se contempla alumbrado con
lámparas fluorescentes de 4 x 32 W en T – 8, interruptores, alimentación extractor y enfriador evaporativo, clima que comprende un sistema de extracción de 2,685 pcm, y un sistema de ventilación 6,800 pcm. 

3.00 CUARTO DE QUIMICOS DE 16.0 ML DE ANCHO X 22 ML DE LARGO: 

Para complementar los requerimientos de proceso y producción se contempla la construcción de un cuarto de almacenamiento de químicos de 16
ml de ancho x 22 ml de largo x 5 ml de altura cuyo alcance del trabajo contempla la elaboración de la plataforma de cimentación con caliche compactado; cimentación de estructura metálica de soporte de techo del cuarto a
base de zapatas aisladas y dados de concreto; techumbre elaborada con estructura metálica y cubierta de lámina acanalada rectangular, con molduras perimetrales y canalón, bajadas de agua pluvial propias; piso de concreto de 13
cm espesor; Sello de piso epóxico; muro perimetral de malla ciclónica de 5.0 ml de altura, puerta corrediza de 3.00 ml de ancho x 2.80 ml de altura; fosa captación; trinchera de conducción perimetral; instalaciones
eléctricas a prueba de explosión ya sea lámparas canalizaciones, interruptores, sistema de pararrayos, anillo de tierra para operar con los contenedores de químicos. 

 Exhibit “C” 

“Exhibit E” 

SPECIFICATIONS AND DESCRIPTION OF THE DEVELOPMENT TO BE DONE AT TPI’S BUILDING 

1.0 – TRUCK ENTRANCE AND GUARDHOUSE 
 1.10 TRUCK
ENTRANCE: 
 This lot will elaborate an access to the building through Percheron St. which encompasses a truck ramp and a sliding door whose labors to be
performed in order to complete this lot are: all the demolitions needed on the wall colliding with Percheron St., which will enable the access through the west side of the building, such as, discharge of chain link fence; concrete sidewalk on the
exterior, concrete fittings and the elaboration of an access ramp 12 m wide on the entrance and extending from the street to the internal road whose labors encompass the earthwork needed and the appropriate slope for heavy truck traffic, concrete
slab of f’c = 250 kg/cm2 by 20 cm thick and reinforced with steel of 13 mm in diameter, steel guardrail posts 8” in diameter x 75 cm above concrete slab to protect the guardhouse; this lot also includes a rolled steel shape door operated
with an electrical motor of 1 hp, controlled by the guards with a wireless remote; stairway to access the guardhouse from the street. 
 1.20 GUARDHOUSE
(3m X 4m X 2.75m inside) 
 In order to coordinate the truck flow into and out of the building a guardhouse of 3m wide by 4m long and 2.75 m high will be
built. It will be constructed with its appropriate foundation, concrete block wall 20 cm thick, reinforced steel concrete slab; gypsum plaster on the inside; the necessary electrical installations such as lighting, outlets, voice data shooting and
phone shooting; air conditioning system with a Mini-Split unit for cooling and heating; mortar plaster on the outside walls; interior paint and waterproofing paint in the exteriors with elastomeric roofing; aluminum frame screen fixed windows on all
four sides of the guardhouse 91 cm tall, aluminum frame screen door; operation control lot for the rolled steel shape door on the truck’s access point. 

2.00 – MEN’S RESTROOM 

 In order to provide the sanitary service for the production population of the building a sanitary services area
will be build with a capacity of 7 toilets, 1 handicap stall, 8 urinals and 9 sinks including a service hallway and an access hallway whose labors encompass : necessary demolitions such as: opening of a cavity through the tilt-up wall to access the
new restrooms; foundation platform elaborated with compacted caliche; steel structured ceiling galvanized sheet metal roof covering; concrete slab for washbasins; concrete block wall 20 cm thick steel reinforced vertically and horizontally; concrete
slab floor 10 cm thick f’c = 200 kg/cm2; 30 cm by 30 cm ceramic tile for floor or similar; mortar plaster on the outside walls; small slab covering on walls with 15 cm by 25 cm ceramic tile and in concrete slab for washbasins; 2’ x 4’
suspended ceiling roof cover; waterproofing and insulation of 1 1⁄2” thick and finishes in elastomeric paint with a 10 year warranty; all of the hydraulic
and sanitary installations, one floor tally; metallic door with lock and door check; standard sanitary partitions, in the handicap accessible stall an urinals 304 stainless steel partitions will be used; Kohler brand elongated flush toilet equipped
with a topless rigid seat; Kohler brand urinal with integrated trap operated with a manual handle; white washbasin Kohler brand equipped with single handle faucet mixer with a 4” yoke or similar; stainless steel soap dispensers necessary for
liquid soap; two paper towels dispensers; handicap 36” restroom grab bars; one 24” x 24” plastic floor tally; vinyl paint on indoor hallways and exterior walls; electrical installations encompassing lighting with T-8 4 x 32 W
fluorescent lamps; switches, electrical feeding to extractor fan and evaporative cooler; air conditioning system consists of an extraction system of 2,685 cfm, and a ventilation system of 6,800 cfm. 

3.00 – CHEMICAL ROOM (16.0m wide X 22.0m long) 
 In
order to complement the production process and requirements a chemical storage room will be built 16 m wide by 22 m long and 5 m tall whose labors encompass the elaboration of the foundation subgrade with compacted caliche; metal structure
foundation to support the ceiling based on isolated footing and concrete blocks; metal structured roofing with rectangular corrugated sheet metal covering containing perimetral molding, gutter and the appropriate downspouts; concrete slab floor 13
cm thick; epoxy sealed floor; perimetral chain link fence wall 5 m tall, sliding door 3.00 m wide by 2.80 m tall; drain pit; perimetral conduction ditch; explosion proof electrical installations whether it be flume lamps, interrupters, lighting
protection system and an earth ring to operate with the chemical containers.

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