Document:

Lease dated June 21, 2000, as amended

 Exhibit 10.25 
 INDUSTRIAL LEASE 
 BETWEEN 
 THE GREAT-WEST LIFE ASSURANCE COMPANY 
 and 
 801611 ONTARIO LIMITED 
 - AND - 
 PRIMERICA LIFE INSURANCE COMPANY OF CANADA 
 DATE: June 21st, 2000 
 MASTERS/INDUST.MLS/07/21/94 

 TABLE OF CONTENTS 
  

					
	 	    	 	  	Page
	 ARTICLE I - DEFINITIONS
	  	1
		
	 ARTICLE II - INTENT AND INTERPRETATION
	  	
			
	 Section 2.01
	    	 Net Lease
	  	4
	 Section 2.02
	    	 Extended Meanings
	  	4
	 Section 2.03
	    	 Entire Agreement
	  	5
	 Section 2.04
	    	 Governing Law
	  	5
	 Section 2.05
	    	 Time of the Essence
	  	5
	 Section 2.06
	    	 Construction of the Leased Premises
	  	5
		
	 ARTICLE III - GRANT AND TERM
	  	
			
	 Section 3.01
	    	 Leased Premises
	  	5
	 Section 3.02
	    	 Commencement and Ending Date of Term
	  	5
		
	 ARTICLE IV - RENT
	  	
			
	 Section 4.01
	    	 Covenant to Pay
	  	5
	 Section 4.02
	    	 Minimum Rent
	  	5
	 Section 4.03
	    	 Pro Rata Rent
	  	6
	 Section 4.04
	    	 Post Dated Cheques
	  	6
	 Section 4.05
	    	 First and Last Months’ Rent
	  	6
	 Section 4.06
	    	 Vacant Possession
	  	6
	 Section 4.07
	    	 Default of Rent Payments
	  	6
		
	 ARTICLE V - USE OF THE LEASED PREMISES
	  	
			
	 Section 5.01
	    	 Use of the Leased Premises
	  	7
	 Section 5.02
	    	 Nuisance and Waste
	  	7
	 Section 5.03
	    	 Observance of Law
	  	7
	 Section 5.04
	    	 Environmental Matters
	  	7
		
	 ARTICLE VI - TENANT’S COVENANTS
	  	
			
	 Section 6.01
	    	 Taxes Payable by the Tenant
	  	7
	 Section 6.02
	    	 Operating Costs
	  	8
	 Section 6.03
	    	 Utilities
	  	8
	 Section 6.04
	    	 Payment of Additional Rent
	  	8
	 Section 6.05
	    	 Tenant’s Insurance
	  	9
		
	 ARTICLE VII - MAINTENANCE, REPAIRS AND ALTERATIONS
	  	
			
	 Section 7.01
	    	 Maintenance and Repairs by the Tenant
	  	10
	 Section 7.02
	    	 Landlord’s Approval of the Tenant’s Work
	  	11
	 Section 7.03
	    	 Repair where Tenant at Fault
	  	11
	 Section 7.04
	    	 Tenant Not to Overload Floors or Other Facilities
	  	11
	 Section 7.05
	    	 Removal and Restoration by the Tenant
	  	12

  

 3 

 TABLE OF CONTENTS, continued... 
  

					
	 	    	 	  	Page
	 Section 7.06
	    	 Liens
	  	12
	 Section 7.07
	    	 Signs and Advertising
	  	12
	 Section 7.08
	    	 Heating, Ventilating and Air-Conditioning
	  	12
	 Section 7.09
	    	 Window Covering
	  	13
		
	 ARTICLE VIII - LANDLORD’S COVENANTS
	  	
			
	 Section 8.01
	    	 Taxes Payable by the Landlord
	  	13
	 Section 8.02
	    	 Control of the Project by the Landlord
	  	13
	 Section 8.03
	    	 Landlord’s Insurance
	  	13
	 Section 8.04
	    	 Maintenance and Repairs by the Landlord
	  	14
	 Section 8.05
	    	 Notices for Sale or to Let
	  	14
		
	 ARTICLE IX - DAMAGE AND DESTRUCTION AND EXPROPRIATION
	  	
			
	 Section 9.01
	    	 Interpretation of Article IX
	  	14
	 Section 9.02
	    	 Damage to the Leased Premises
	  	14
	 Section 9.03
	    	 Damage to or Expropriation of the Project
	  	15
	 Section 9.04
	    	 Landlord’s Architect’s Certificate
	  	15
		
	 ARTICLE X - ASSIGNMENT, SUBLETTING, PARTING WITH POSSESSION AND CORPORATE CONTROL
	  	
			
	 Section 10.01
	    	 Assignments, Subleases and Transfers
	  	15
	 Section 10.02
	    	 Landlord’s Right to Terminate
	  	16
	 Section 10.03
	    	 Conditions of Transfer
	  	16
	 Section 10.04
	    	 Change of Control
	  	17
	 Section 10.05
	    	 No Advertising
	  	17
	 Section 10.06
	    	 Assignment by the Landlord
	  	17
		
	 ARTICLE XI - ACCESS AND ALTERATIONS
	  	
			
	 Section 11.01
	    	 Right of Entry
	  	17
		
	 ARTICLE XII - STATUS STATEMENT, ATTORNMENT AND SUBORDINATION
	  	
			
	 Section 12.01
	    	 Status Statement
	  	17
	 Section 12.02
	    	 Subordination and Attornment
	  	18
		
	 ARTICLE XIII - DEFAULT
	  	
			
	 Section 13.01
	    	 Right to Re-enter
	  	18
	 Section 13.02
	    	 Right to Terminate or Relet
	  	19
	 Section 13.03
	    	 Expenses
	  	19
	 Section 13.04
	    	 Waiver of Exemption from Distress
	  	19
	 Section 13.05
	    	 The Landlord’s Right to Cure the Tenant’s
	  	
		    	 Default or Perform the Tenant’s Covenants
	  	19
	 Section 13.06
	    	 Application of Money
	  	19
	 Section 13.07
	    	 Remedies Generally
	  	19

  

 4 

 TABLE OF CONTENTS, continued... 
  

					
	 	    	 	  	Page
	 ARTICLE XIV - MISCELLANEOUS
	  	
			
	 Section 14.01
	    	 Rules and Regulations
	  	20
	 Section 14.02
	    	 Overholding
	  	20
	 Section 14.03
	    	 Successors
	  	20
	 Section 14.04
	    	 Tenant Partnership
	  	20
	 Section 14.05
	    	 Waiver
	  	20
	 Section 14.06
	    	 Accord and Satisfaction
	  	20
	 Section 14.07
	    	 Force Majeure
	  	21
	 Section 14.08
	    	 Notices
	  	21
	 Section 14.09
	    	 Registration
	  	21
	 Section 14.10
	    	 Quiet Enjoyment
	  	21
		
	 SCHEDULE “A” - LEGAL DESCRIPTION OF THE PROJECT
	  	
		
	 SCHEDULE “B” - LAYOUT OF THE LEASED PREMISES
	  	
		
	 SCHEDULE “C” - RULES AND REGULATIONS FORMING PART OF THE WITHIN LEASE
	  	
		
	 SCHEDULE “D” - CHARGES FOR HEATING AND AIR-CONDITIONING
	  	
		
	 SCHEDULE “E” - ADDITIONAL PROVISIONS
	  	

  

 5 

 THIS LEASE is dated the 21st day of June, 2000 
 BETWEEN: 
 The Great-West Life Assurance Company 
 and 801611 Ontario Limited 
 (collectively “Landlord”) 
 THE PARTY OF THE FIRST PART 
 - and - 
 Primerica Life Insurance Company of Canada 
 (“Tenant”) 
 THE PARTY OF THE SECOND PART 
 ARTICLE I 
 DEFINITIONS 
 Definitions 
  

	1.01	In this Lease and the schedules forming part of it, the following definitions apply: 

  

	(i)	‘Additional Rent’ means the money or charges which the Tenant is required to pay under this Lease (except Minimum Rent) whether or not they are
designated “Additional Rent” and whether they are payable to the Landlord or to third parties. 

  

	(ii)	‘Architect’ means the architect which the Landlord names from time to time. 

  

	(iii)	‘Common Areas and Facilities’ means those areas, facilities, utilities, improvements, equipment and installations which are in the Project and from
time to time are not designated or intended by the Landlord to be leased to tenants of the Project, or are provided or designated from time to time by the Landlord for the use or benefit of the tenants in common with others entitled to their use or
benefit, in the manner and for the purposes permitted by this Lease. The Common Areas and Facilities includes but is not limited to parking areas, the entrances and exits, landscaping, the structural elements, roof, driveways, common loading dock,
sidewalks, landscaped areas, equipment, stairways, common interior areas, common washrooms, fire prevention, security and communications systems, columns, pipes, electrical, plumbing, drainage, mechanical, telephone, meter, mail, storage, janitor
rooms, and the other installations including the HVAC System supplied by the Landlord, equipment or services located in the Project or related to it as well as the structures housing them. 

  

	(iv)	‘Capital Tax’ means the amount of capital tax payable by the Landlord or the owners of the Project under the Corporations Tax Act of Ontario as amended
or replaced from time to time or any other legislation imposing taxes on account of capital, calculated as if the Project were the only property of the Landlord or the owners of the Project. 

  

	(ivA)	‘Change of Control’ means, in the case of any corporation or partnership, the transfer or issue by sale, assignment, subscription, transmission on
death, mortgage, charge, security interest, operation of law or otherwise, of any shares, voting rights or interest which would result in any change in the effective control of such corporation or partnership unless such change occurs as a result of
trading in the shares of a corporation listed on a recognized stock exchange in Canada or the United States and then only so long as the Landlord receives assurances reasonably satisfactory to it that there will be a continuity of management and of
the business practices of such corporation notwithstanding such Change of Control. 

  

	(v)	 ‘HVAC System’ means the heating, ventilating and air-conditioning system of the Project which is composed of all heating, ventilating
and air-conditioning equipment and facilities provided or operated and maintained by the Landlord and includes from time to time, but is not limited to, any roof-top, ceiling or wall-mounted, or window heating, ventilating or air-conditioning units
installed or maintained by the Landlord; the fuel and power facilities of the systems, and distribution piping, air-handling units and common fan coil and ventilation units which form part of the system; and monitoring, energy saving and control
systems including the thermostat in each of the individual units supplied by the HVAC System and those ventilation systems which serve more than one tenant;

  

 6 

	 	 
but does not include: (i) the individual, self-contained heating, ventilating and air-conditioning system in any premises the tenant or occupant of which installs and maintains the system;
(ii) the distribution system within each tenant’s premises, installed by or for the tenant; and (iii) the tenant maintained ventilation ducts, make-up air facilities, or booster units which are installed by or for individual tenants
or a group of tenants, to satisfy requirements which are in excess of the standard maximum sensible cooling load established by the Landlord, or which result from the production of air which is not suitable for recirculation.

  

	(vi)	‘Indemnifier’ means the Person who has executed or agreed to execute the Indemnity Agreement which is attached to this Lease as Appendix “A”.

  

	(vii)	‘Landlord’ means the party of the First Part, and for the purpose of Section 6.05.4 includes the officers, servants, contractors and agents
of the Landlord. 

  

	(viii)	‘Leasable Premises’ means those premises within the Project from time to time which are leased to tenants or which are designated by the
Landlord for that purpose. 

  

	(viiiA)	 ‘Lease Proposal’ means the written proposal to lease between Great-West Life Assurance Company as agent for the Landlord and
the Tenant dated the 13th day of June,
2000. 

  

	(ix)	‘Leased Premises’ means the premises leased to the Tenant, the boundaries of which extend, (i) (1) to the exterior face of all
exterior walls, doors, and windows, (2) to the centre line of all interior walls separating the Leased Premises from adjoining Leasable Premises, with no deduction for space occupied by projections, structures, or columns, structural or
non-structural and (ii) from the top surface of the structural subfloor to the bottom surface of the structural ceiling. 

  

	(ixA)	‘Leasehold Improvements’ means leasehold improvements in the Leased Premises determined according to common law, and shall include,
without limitation, all fixtures, improvements, installations, alterations and additions from time to time made, erected or installed in the Leased Premises by or on behalf of the Tenant or any previous occupant of the Leased Premises, including
signs and lettering, partitions, doors and hardware however affixed and whether or not movable, all mechanical, electrical and utility installations and all carpeting and drapes with the exception only of furniture and equipment not in the nature of
fixtures. 

  

	(x)	‘Minimum Rent’ means the annual rent payable by the Tenant under Section 4.02. 

  

	(xi)	‘Mortgagee’ means any mortgagee or hypothecary creditor (including any trustee for bondholders) of the Project or any part of it.

  

	(xii)	‘Operating Costs’ means the total amounts incurred, paid or payable by the Landlord or by others on behalf of the Landlord in maintaining
and operating the Project, including without limitation and without duplication, the aggregate of: 

  

	 	(a)	the total annual costs and expenses of the insurance carried by the Landlord (after deducting recoveries from tenants under clauses similar to Section 6.05.2) for
the lands, buildings, improvements, equipment and other property in the Project owned or operated by the Landlord or for which the Landlord is liable; 

  

	 	(b)	cleaning, snow removal, garbage and waste collection and disposal, and landscaping; 

  

	 	(c)	lighting, electricity, and public utilities serving the Common Areas and Facilities and electricity for signs that are a part of the Common Areas and Facilities;

  

	 	(d)	policing, security, and supervision; 

  

	 	(e)	salaries of personnel, including management and other supervisory personnel, employed to operate the Project, including contributions and premiums for fringe benefits,
unemployment insurance, and workers’ compensation insurance, pension plan contribution, and similar premiums and contributions; 

  

	 	(f)	the cost of equipment and signs including Project directory board and identification and the repair and maintenance thereof; 

  

 7 

	 	(g)	the cost of building supplies used by the Landlord in the maintenance and repair of the Common Areas and Facilities; 

  

	 	(h)	repairs (including major repairs) and replacements to and maintenance and operation of the Common Areas and Facilities), including the HVAC System, except for repairs
or replacements of inherent structural defects or weakness; 

  

	 	(i)	depreciation or amortization of the costs, including repair and replacement, of the maintenance, cleaning and operating equipment and facilities, roof, HVAC System,
master utility meters and all other fixtures, equipment and facilities that are part of Common Areas and Facilities unless they are charged fully in the Rental Year in which they are incurred, all in accordance with generally accepted accounting
principles; 

  

	 	(j)	interest calculated at 2% points above the prime rate upon the undepreciated or unamortized part of the cost referred to in (i) above; 

  

	 	(k)	the cost of heating, ventilating and air conditioning the Common Areas and Facilities; 

  

	 	(l)	the Taxes, (including school taxes and local improvement rates) if any, payable by the Landlord which are levied or assessed or allocated by the Landlord pursuant to
section 6.01.1 hereof with respect to the Common Areas and Facilities and Capital Tax; 

  

	 	(m)	an administrative fee of 20% of the cost referred to above but excluding those referred to in (i), (j) and (l) hereof. 

 From the total of the Operating Costs there is deducted: 
  

	 	(aa)	net recoveries that reduce the expenses incurred by the Landlord in operating and maintaining the Project and the Common Areas and Facilities, received by the Landlord
from tenants as a result of any act, omission, default or negligence of tenants or as the result of breaches by tenants of the provisions in their lease; 

  

	 	(bb)	net proceeds from insurance policies taken out by the Landlord, to the extent that the proceeds relate to the costs and expenses incurred in the maintenance and
operation of the Project and the Common Areas and Facilities; (if the Landlord defaults under Section 8.03, it will deduct an amount equal to the net proceeds that the Landlord would have been entitled to had it not defaulted under that
section). 

  

	(xiii)	‘Person’ if the context allows, includes any person, firm, partnership or corporation, or any group of persons, firms, partnerships, or corporations or
any combination of them. 

  

	(xiv)	‘Project’ means the lands described in Schedule “A” as those lands are altered, expanded, or reduced from time to time and any buildings,
improvements, equipment and facilities erected on them or situated on or in them from time to time. 

  

	(xv)	‘Proportionate Share’ means a fraction which has as its numerator the floor area of the Leased Premises and as its denominator, the floor area of all
Leasable Premises. 

  

	(xvi)	‘Rent’ means the Minimum Rent and Additional Rent payable under this Lease. 

  

	(xvii)	‘Rentable Area’ means in any lease in respect of any portion of Leasable Premises the total area expressed in square feet determined by aggregating:
(a) the floor area of the Leased Premises; and (b) a Proportionate Share of the Common Area and Facilities. 

  

	(xviii)	‘Rental Year’ means successive periods of 12 calendar months except for the first Rental Year of the Term which commences on the first day of the Term
and ends on the last day of December next following and the last Rental Year of the Term whether it is 12 calendar months or not, terminates on the expiration or earlier termination of this Lease. 

  

	(xix)	 ‘Taxes’ means all real property taxes, rates, duties and assessments (including local improvement taxes), impost charges or levies,
whether general or special, that are levied, rated, charged or assessed against the Project or any part of it from time to time, (including, but not limited to, the Common

  

 8 

	 	 
Areas and Facilities) by any lawful taxing authority, whether federal, provincial, municipal, school or otherwise and any taxes or other amounts which are imposed in lieu of, or in addition to,
any such real property taxes whether of the foregoing character or not and whether in existence at the Commencement Date or not, and any such real property taxes levied or assessed against the Landlord on account of its ownership of the Project or
its interest in it. 

  

	(xx)	‘Tenant’ means the party of the Second Part and every Person mentioned as Tenant in this Lease and for purposes of Section 8.03 includes the
servants, employees, agents, invitees and licensees of the Tenant and those over whom the Tenant may reasonably be expected to exercise control. 

  

	(xxi)	‘Trade Fixtures’ means trade fixtures as determined at common law, but for greater certainty, shall not include: (a) heating, ventilating or air
conditioning systems, facilities and equipment in or serving the Leased Premises; (b) floor coverings affixed to the floor of the Leased Premises; (c) light fixtures; (d) internal stairways and doors; and (e) any fixtures,
facilities, equipment or installations installed by or at the expense of the Landlord pursuant to the Lease Proposal or otherwise. 

  

	(xxii)	‘Transfer’ means an assignment of this lease in whole or in part, a sublease of all or any part of the Leased Premises, any transaction whereby the
rights of the Tenant under this Lease or to the Leased Premises are transferred to another, any transaction by which any right of use or occupancy of all or any part of the Leased Premises is conferred upon anyone, any mortgage, charge or
encumbrance of this Lease or the Leased Premises or any part thereof or other arrangement under which either this Lease or the Leased Premises become security for any indebtedness or other obligations and includes any transaction or occurrence
whatsoever (including, but not limited to, expropriation, receivership proceedings, seizure by legal process and transfer by operation of law), which has changed or might change the identity of the Person having lawful use or occupancy of any part
of the Leased Premises. 

  

	(xxiii)	‘Transferee’ means the Person or Persons to whom a Transfer is or is to be made. 

 ARTICLE II - INTENT AND INTERPRETATION 
 Net Lease

 2.01 Except as otherwise stated herein, this Lease is a completely carefree net lease to the Landlord. The Tenant will pay all
charges, impositions, costs and expenses of every nature relating to the Leased Premises and the Landlord is not responsible for any costs, charges, expenses or any outlays of any nature whatsoever arising from or relating to the Leased Premises, or
the use and occupancy of them. 
 Extended Meanings 
 2.02 Words importing the singular number only shall include the plural and vice versa and words importing the masculine gender shall include the feminine gender and words importing Persons shall include
firms, corporations and vice versa. The captions or marginal notes are descriptive only and do not form part of this Lease. 
 Entire
Agreement 
 2.03 This Lease, as well as schedules and riders, if any, constitutes the entire agreement between the parties hereto with
respect to the Leased Premises and may be amended only by an agreement in writing signed by the Landlord and the Tenant and no party hereto is bound by any representations, warranties, promises or agreements or inducements not embodied herein and in
particular, no warranties of the Landlord not expressed herein are to be implied. 
 Governing Law 
 2.04 This Lease will be construed in accordance with and governed by the laws of the Province of Ontario. 
 Time of the Essence 
 2.05 Time is of
the essence in this Lease and each part of it. 
  

 9 

 Construction of the Leased Premises 
 2.06 The provisions (if any) of the Lease Proposal relating to construction of the Premises and delay in the availability of the Leased Premises for
occupancy by the Tenant shall remain in effect and shall not merge upon the execution of this lease. The Tenant shall abide by the provisions of the tenant leasehold improvement manual supplied by the Landlord for any construction it proposes to do
prior to or upon occupancy of the Leased Premises, and any renovations to the Leased Premises after it takes occupancy. 
 ARTICLE III 
 GRANT AND TERM 
 Leased Premises 
 3.01 The Landlord leases to the Tenant, and the Tenant leases from
the Landlord, the Leased Premises, designated as Unit No. 3 at 6715 Millcreek Drive, Mississauga, Ontario. The Rentable Area of the Leased Premises consists of approximately 13,125 square feet in
accordance with Certificate of Measurement dated August 3, 2000. The approximate location of the Leased Premises is shown outlined on the plan attached as
Schedule “B”. If there is a discrepancy between the Landlord and the Tenant as to the Rentable Area of the Leased Premises the Rentable Area of the Leased Premises shall be the area as certified by the Landlord’s architect in
accordance with Section 1.01(xvii) hereof in the Definition portion of the Lease, whose decision shall be final and binding. The Minimum Rent shall be subject to adjustments based on the actual square foot area of the Rentable Area of the
Leased Premises. 
 Commencement and Ending Date of Term 
 3.02 To have and to hold the Leased Premises, for and during the term (“Term”) which will be, unless sooner terminated as
hereinafter provided, for and during the period of Seven (7) Years and Four (4) Months from the 1st day of January, 2001 (“Commencement
Date”) to the 30th day of April,
2008 (“Expiry Date”). 
 ARTICLE IV 

 RENT 
 Covenant to Pay 
 4.01 The Tenant will pay Minimum Rent and Additional Rent as provided in this Lease. All payments and
charges payable by the Tenant pursuant to this Lease, shall for all purposes hereunder be deemed to be rent. 
 Minimum Rent

 4.02 The Tenant shall, from January lst, 2001 to April 30th, 2008, pay Minimum Rent to the Landlord in the sum of Seventy-Eight Thousand, Seven Hundred and Fifty
Dollars & 00/100 ($78,750.00) per annum payable in equal consecutive monthly installments of Six Thousand, Five Hundred and Sixty-Two Dollars & 50/100 ($6,562.50) each in advance, on the first day of each
calendar month of the Term. The Minimum Rent is based on an annual rate of Six Dollars & 00/100 ($6.00) per square foot of the Rentable Area of the Leased Premises, pursuant to a Certificate of Measurement dated August 3,
2000 verifying the Rentable Area being 13,125 square feet. 
 4.03 If the Term commences on any day other than the first,
or ends on any day other than the last day of a month, the Minimum Rent and Additional Rent for the fractions of a month at the commencement and at the expiration or termination of the Term shall be adjusted on a per diem adjustment of 365 days.

 4.04 The Tenant will deliver to the Landlord at the beginning of each Rental Year a series of monthly post-dated cheques for the Rental Year
for the aggregate of the monthly payments of Minimum Rent and any payments of Additional Rent estimated by the Landlord in advance as well as any payments required by this Lease to be paid monthly in advance. 
  

 10 

 4.06 If construction of the Leased Premises or the Project is not completed by the Commencement Date or if
on that date, a previous tenant or occupant is overholding, and the Landlord is therefore unable to deliver vacant possession of the Leased Premises, the Landlord will exercise all its rights diligently in order to obtain completion of the
construction and vacant possession, and the Rent payable under this Lease will abate until the Leased Premises are available for occupancy by the Tenant. The Landlord will not be liable to the Tenant for damages and this Lease will, subject to the
abatement of Rent provided for in this Section 4.06, be in full force with no change to the Commencement Date or the Expiry Date. 
 4.07
If the Tenant defaults in the payment of rent, the Tenant shall pay interest on the unpaid rent from the due date to the date of payment at the rate per annum that is 6% points above the prime rate charged by a Canadian bank designated by the
Landlord. 
 ARTICLE V 
 USE OF THE LEASED PREMISES 
 Use of the Leased Premises 
 5.01 The Tenant shall not use or occupy the Leased Premises for any purpose other than for offices, warehousing, print shop and related uses
and will not use or permit the use of the Leased Premises or any part of them, for any other purpose. The Tenant will, throughout the Term, occupy the Leased Premises and operate its business in a diligent, active and continuous manner in the whole
of the Leased Premises. 
 Nuisance and Waste 
 5.02 The Tenant will not do or omit to do or permit to be done or omit to be done upon or in respect of the Leased Premises anything the doing or omission of which is forbidden by law or would be or
result in a nuisance, or use or operate any apparatus or appliance which may cause annoyance to the Landlord or any other occupant of the Project. The Tenant covenants that it will not use or permit to be used all or any part of the Leased Premises
for any dangerous, noxious or offensive trade or business, or cause or permit the Leased Premises or any part thereof to be used for the purpose of any bankruptcy, liquidation or auction sale. 
 Observance of Law 
 5.03 The Tenant
will at its expense, and subject to Sections 6.05.1 and 6.05.2, promptly, (a) comply with the requirements of all governmental authorities, including, federal, provincial and municipal legislative enactments, by-laws and other regulations now
or subsequently in force which pertain to the Leased Premises, the Tenant’s use of the Leased Premises, or the conduct of any business in the Leased Premises, or the making of any repairs, replacements, alterations or changes to the Leased
Premises, including energy conservation and (b) comply with the police, fire and sanitary regulations imposed by any governmental authorities or made by fire insurance underwriters, and (c) carry out all modifications or changes to the
Leased Premises and the Tenant’s conduct of business in or use of the Leased Premises which are required by any of those authorities, provided that in the event of default by the Tenant under this paragraph the Landlord may itself comply and
collect the cost thereof plus a twenty percent (20%) administration charge from the Tenant as rent in arrears. 
 Environmental
Matters 
 5.04 The Tenant covenants with the Landlord that it will not bring upon, permit or use any substance, defined or designated as
a hazardous or toxic waste, hazardous or toxic material, a hazardous, toxic or radioactive substance or other similar term, by any applicable federal, provincial, municipal or local statute, regulation, by-law or ordinance now or hereafter in
effect, or any substance or materials, the use or disposition of which is regulated by any such statute, regulation, by-law or ordinance (hereinafter called “Toxic Materials”) in, on or under the Premises and the Tenant will promptly
comply with all statutes,

  

 11 

 
regulations, by-laws, and ordinances, and with all orders, decrees or judgments of governmental authorities of courts having jurisdiction, relating to the use, collection, storage, treatment,
control, removal or clean up of Toxic Materials in, on or under the Premises if the Premised become contaminated with Toxic Materials as a result of operations or activities on the Premises, or incorporated in any Tenant’s improvements thereon.
The Landlord may, but shall not be obliged to, enter upon the Premises and take such actions and incur such costs and expenses to effect such compliance as it deems advisable and the Tenant shall reimburse the Landlord on demand for the full amount
of all costs and expenses incurred by the Landlord in connection with such compliance activities. The Tenant will indemnify and hold the Landlord harmless against any losses, damages, costs, expenses and liabilities suffered or incurred by the
Landlord by reason of a breach of any of the covenants aforesaid which indemnity shall survive any surrender or termination of the Lease. 
 ARTICLE VI 
 TENANT’S COVENANTS 
 Taxes Payable by the Tenant 
 6.01.1
The Tenant shall pay, in each and every year during the Term, as Additional Rent, and discharge within 20 days after same shall become due and payable, all Taxes charged or assessed against or in respect of all improvements, equipment and facilities
of the Tenant on or in the Leased Premises (whether installed by the Tenant or by the Landlord on behalf of the Tenant) and every tax and license fee in respect of any and every business carried on, thereon or therein in respect of the use or
occupancy thereof by the Tenant (and every subtenant or licensee). The Tenant further covenants and agrees that upon written request of the Landlord, the Tenant will promptly deliver to it for inspection receipt for payment of all Taxes in respect
of all improvements, equipment and facilities of the Tenant on or in the Leased Premises which were due and payable up to 1 month prior to such request, and in any event will furnish to the Landlord, if requested by the Landlord, evidence of payment
satisfactory to the Landlord before the 21st day of January in each year covering payments for the preceding year. 
 6.01.2 In the event that
there shall not be a separate real property tax bill and separate real property assessment notice for the Leased Premises and the Common Areas and Facilities, the Tenant shall pay a share of the Taxes against the Project (including the Common Areas
and Facilities) within 10 days after demand therefor by the Landlord as allocated to the Leased Premises by the Landlord. The Landlord shall allocate all such Taxes firstly as between all Leasable Premises and the Common Areas and Facilities, and
secondly with respect to the Taxes so allocated to the Leasable Premises, the Landlord shall make a further allocation of all such real property taxes as between each of the Leasable Premises on such basis as the Landlord acting reasonably shall in
its sole opinion deem equitable. 
 6.01.3 The Tenant shall have the right to contest at its own expense so long as the Landlord is not involved
in any cost, loss or penalty whatsoever, by appropriate legal proceedings, the validity of any tax, rate, including local improvement rates, assessments or other charges referred to in this Section 6.01 provided that the Tenant forthwith pays
the same under protest or furnishes to the Landlord sufficient security by bond or otherwise to ensure the payment of same (together with the Landlord’s reasonable expenses and costs, on a solicitor and client basis) in the event such appeal or
application is unsuccessful. 
 Operating Costs 
 6.02 In each Rental Year, the Tenant will pay to the Landlord, as Additional Rent its Proportionate Share of the Operating Costs. 
 Utilities 
 6.03(a) The Tenant shall pay as the same becomes due respectively, all
taxes and charges for public and private utilities, including water, gas, electrical power or energy, steam or hot water used upon or in respect of the Leased Premises. In this regard, the Tenant shall enter into such contracts or other arrangements
in connection with the utilities which the Landlord requests it to and will pay whatever deposits or other amounts which are payable under those contracts or other arrangements. No administration fee is payable for amounts billed directly to the
Tenant by a supplier of utilities and paid by the Tenant directly to the supplier. 
 (b) If the Leased Premises are not separately metered the
Landlord shall allocate to the Leased Premises an equitable amount as reasonably determined by the Landlord having regard among other things without limitation to the Tenant’s connected load and the then current applicable commercial rates for
the municipality in which the Leased Premises is located, together with the Landlord’s costs of determining the amount including, but not limited to, professional, engineering and consulting fees, and an administration fee of 20% of the total
referred to above. 
  

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 (c) Provided, without in any way limiting the provisions of this Section 6.03, if at any time during
the Term, the Landlord shall determine, in its sole discretion, that the Tenant’s use of any utility or service, including, without limitation, water, used or consumed on the Leased Premises is in any way unusual or of an excessive nature, the
Landlord may, at its option and at the sole cost and expense of the Tenant, install in the Leased Premises a separate meter or sub meter with respect to any such utility or service, including, without limitation, a separate meter for the measurement
of hot and cold water, whereupon the Tenant’s cost in connection with any such utility or service shall he determined in accordance with such separate meter or sub meter. 
 (d) The Landlord is not liable for interruption or cessation of, or failure in the supply of utilities, services or systems in, to or serving the Project or the Leased Premises, whether they are supplied
by the Landlord or others, and whether the interruption or cessation is caused by the negligence or not. 
 Payment of Additional Rent

 6.04 Any Additional Rent or other amount payable by the Tenant to the Landlord pursuant to this Lease shall be paid as follows:

 (a) The Landlord may reasonably estimate the amount of such Additional Rent at the commencement of each Rental Year and the Tenant shall pay
to the Landlord monthly as Additional Rent, 1/12th of such estimated amount. If the amount of Additional Rent payments by the Tenant should be less than the actual amount due for such Rental Year, then in that event, the Tenant shall pay to the
Landlord forthwith upon demand the amount of such deficiency. 
 (b) If the aggregate amount of Additional Rent payment made by the Tenant
should be greater than the actual amount due for such Rental Year then, in that event, should the Tenant not be otherwise in default hereunder, the amount of such excess will be applied by the Landlord to the next succeeding instalment of Additional
Rent due hereunder; and if there be any such excess for the last Rental Year of the Term, the amount thereof will be refunded by the Landlord to the Tenant within 30 days after the expiration of the Term provided the Tenant is not otherwise in
default under the terms of this Lease. 
 (c) If this Lease commences on a date other than the first day of a calendar year or expires on a date
other than the last day of a calendar year, the estimated Additional Rent for such periods of this Lease less than a full calendar year shall be adjusted on a pro rata basis. 
 (d) Within 180 days after the end of the period for which estimated payments have been made, provided all required information has been made available to
the Landlord, the Landlord will deliver to the Tenant, a statement of Operating Costs, Taxes and Utilities together with a statement of the Tenant’s Proportionate Share of those amounts and costs. 
 Tenant’s Insurance 
 6.05.1(a)
The Tenant shall maintain the following insurance throughout the Term at its sole cost: (i) “All Risks” (including flood and earthquake) property insurance with deductibles not exceeding 3% of the amount insured, naming the Tenant, the
Landlord, the owners of the Project and the Mortgagee as insured parties, containing a waiver of any subrogation rights which the Tenant’s insurers may have against the Landlord and against those for whom the Landlord is in law responsible, and
(except with respect to the Tenant’s chattels) incorporating the Mortgagee’s standard mortgage clause. Such insurance shall insure: (1) property of every kind owned by the Tenant or for which the Tenant is legally liable located on or in
the Project including, without limitation, Leasehold Improvements, in an amount equal to not less than 90% of the full replacement cost thereof, subject to a stated amount co-insurance clause; and (2) extra expense insurance in such amount as will
reimburse the Tenant for loss attributable to all perils referred to in this paragraph 6.05.1(a)(i) or resulting from prevention of access to the Leased Premises; (ii) comprehensive general liability insurance which includes the following coverage:
owners protective; personal injury; occurrence property damage; and employers and blanket contractual liability. Such policies shall: contain inclusive limits of not less than $5,000,000; provide for cross liability; and name the Landlord as an
insured; (iii) Tenant’s “all risks” legal liability insurance for the replacement cost value of the Leased Premises; (iv) automobile liability insurance on a non-owned form including contractual liability, and on an owner’s
form covering all licensed vehicles operated by or on behalf of the Tenant, which insurance shall have inclusive limits of not less than $2,000,000; and (v) any other form of insurance which the Tenant or the Landlord, acting reasonably, or the
Mortgagee requires from time to time in form, in amounts and for risks against which a prudent tenant would insure. 
  

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 (b) All policies referred to in this Section 6.05.1 shall: (i) be taken out with insurers
reasonably acceptable to the Landlord; (ii) be in a form reasonably satisfactory to the Landlord; (iii) be non-contributing with, and shall apply only as primary and not as excess to, any other insurance available to the Landlord;
(iv) not be invalidated as respects the interests of the Landlord or the Mortgagee by reason of any breach of or violation of any warranty, representation, declaration or condition; and (v) contain an undertaking by the insurers to notify
the Landlord by registered mail not less than 30 days prior to any material change, cancellation or termination. Certificates of insurance on the Landlord’s standard form or, if required by the Landlord, certified copies of such insurance
policies, shall be delivered to the Landlord forthwith upon request. If the Tenant fails to take out or to keep in force any insurance referred to in this Section 6.05.1 or should any such insurance not be approved by either the Landlord or the
Mortgagee and should the Tenant not commence to diligently rectify (and thereafter proceed to diligently rectify) the situation within 48 hours after written notice by the Landlord to the Tenant (stating, if the Landlord or the Mortgagee, from time
to time, does not approve of such insurance, the reasons therefor) the Landlord has the right without assuming any obligation in connection therewith, to effect such insurance at the sole cost of the Tenant and all outlays by the Landlord shall be
paid by the Tenant to the Landlord without prejudice to any other rights or remedies of the Landlord under this lease. 
 Increase in
Insurance Premiums 
 6.05.2 The Tenant shall not keep or use in the Leased Premises any article which may be prohibited by any fire
insurance policy in force from time to time covering the Leased Premises or the Project. If: (a) the conduct of business in, or use or manner of use of, the Leased Premises; or (b) any acts or omissions of the Tenant in the Project or any
part thereof, cause or result in any increase in premiums for any insurance carried by the Landlord with respect to the Project, the Tenant shall pay any such increase in premiums. In determining whether increased premiums are caused by or result
from the use or occupancy of the Leased Premises, a schedule issued by the organization computing the insurance rate on the Project showing the various components of such rate, shall be conclusive evidence of the items and charges which make up such
rate. 
 Cancellation of Insurance 
 6.05.3 If any insurer under any insurance policy covering any part of the Project or any occupant thereof cancels or threatens to cancel its insurance policy or reduces or threatens to reduce coverage
under such policy by reason of the use of the Leased Premises by the Tenant or by any Transferee, or by anyone permitted by the Tenant to be upon the Leased Premises, the Tenant shall remedy such condition within 48 hours after notice thereof by the
Landlord. 
 Loss or Damage 
 6.05.4 The Landlord shall not be liable for any death or injury arising from or out of any occurrence in, upon, at or relating to the Project or damage to property of the Tenant or of others located on the Leased Premises or elsewhere in
the Project, nor shall it be responsible for any loss of or damage to any property of the Tenant or others from any cause, whether or not any such death, injury, loss or damage results from the negligence of the Landlord, its agents, employees,
contractors, or others for whom it may, in law, be responsible. Without limiting the generality of the foregoing, the Landlord shall not be liable for any injury or damage to Person or property resulting from fire, explosion, falling plaster,
falling ceiling tile, falling fixtures, steam, gas, electricity, water, rain, flood, snow or leaks from any part of the Leased Premises or from the pipes, sprinklers, appliances, plumbing works, roof, windows or subsurface of any floor or ceiling of
the Project or from the street or any other place or by dampness or by any other cause whatsoever. The Landlord shall not be liable for any such damage caused by other tenants or Person on or in the Project or by occupants of adjacent property
thereto, or the public, or caused by construction or by any private, public or quasi-public work. All property of the Tenant kept or stored on the Leased Premises shall be so kept or stored at the risk of the Tenant only and the Tenant releases and
agrees to indemnify the Landlord and save it harmless from any claims arising out of any damage to the same including, without limitation, any subrogation claims by the Tenant’s insurers. 
  

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 Indemnification of the Landlord 
 6.05.5 Notwithstanding any other provision of this lease, the Tenant shall indemnify the Landlord and save it harmless from all loss (including loss of Minimum Rent and Additional Rent) claims, actions,
damages, liability and expense in connection with loss of life, personal injury, damage to property or any other loss or injury whatsoever arising out of this lease, or any occurrence in, upon or at the Leased Premises, or the occupancy or use by
the Tenant of the Leased Premises or any part thereof, or occasioned wholly or in part by any act or omission of the Tenant or by anyone permitted to be on the Leased Premises by the Tenant. If the Landlord shall, without fault on its part, be made
a party to any litigation commenced by or against the Tenant, then the Tenant shall protect, indemnify and hold the Landlord harmless in connection with such litigation. The Landlord may at its option participate in, or assume carriage of, any
litigation or settlement discussions relating to the foregoing, or any other matter for which the Tenant is required to indemnify the Landlord under this lease. Alternatively, the Landlord may require the Tenant to assume carriage of and
responsibility for all or any part of such litigation or discussions. 
 ARTICLE VII 
 MAINTENANCE, REPAIRS AND ALTERATIONS 
 Maintenance and Repairs by the Tenant 
 7.01 Subject to Article IX, the Tenant will keep the Leased Premises and all
improvements in or on them in a first-class condition. This obligation includes, but is not limited to, re-painting and re-decorating at reasonable intervals, making repairs and replacements to plate glass, mouldings, doors, hardware, partitions,
walls, fixtures, lighting and plumbing fixtures, wiring, piping, ceilings and floors in the Leased Premises and maintaining, repairing and replacing all operating equipment in the Leased Premises unless it forms part of the Common Areas and
Facilities. At the expiry or termination of this Lease, the Tenant will: (a) leave the Leased Premises in the same conditions as it was required to keep them in during the Term; (b) deliver all keys for the Leased Premises to the Landlord
at the place then fixed for the payment of Rent; (c) give to the Landlord the combinations of any locks, safe, and vaults in the Leased Premises. 
 Landlord’s Approval of the Tenant’s Work 
 7.02(a) The Tenant will not make any repairs, alterations,
replacements, decorations or improvements (collectively called the “Work”) to the Leased Premises without first obtaining the Landlord’s written approval. The Tenant will submit to the Landlord: (i) details of the proposed work
including drawings and specifications; (ii) whatever indemnification against liens, costs, damages and expenses the Landlord requires; and (iii) evidence that the Tenant has obtained the necessary consents, permits, licenses and inspections
from the governmental authorities having jurisdiction. The Work will be performed: (i) at the Tenant’s sole cost; (ii) by competent workmen whose labour union affiliates are compatible with others employed by the Landlord and its contractors;
(iii) in a good and workmanlike manner; (iv) in accordance with the drawings and specifications approved by the Landlord; and (v) subject to the reasonable restrictions imposed by the Landlord. 
 (b) Notwithstanding anything in this Lease to the contrary, if maintenance or Work on the Leased Premises or any improvements installed by or on behalf of
the Tenant for the benefit of the Leased Premises; (i) affect the structure of the Leased Premises; (ii) is to be done outside the Leased Premises; or (iii) is to be done within the Leased Premises but on part of the Common Areas and
Facilities, the maintenance or Work will be performed by the Landlord but at the Tenant’s expense. Upon completion of the maintenance or Work, the Tenant will pay to the Landlord, upon demand, the Landlord’s costs relating to the
maintenance or Work including fees of any architectural or other consultants plus a sum equal to 20% of the total cost representing the Landlord’s overhead and the payment will be made as Additional Rent on demand. 
 Repair Where Tenant at Fault 
 7.03
If the Project or any part of it requires repair, replacement or alteration: (a) because of the Tenant’s negligence or misconduct; (b) due to the requirements of governmental authorities relating to the Tenant’s conduct of
business; or (c) as a result of the Tenant stopping up or damaging the heating apparatus, water pipes, drainage pipes or other equipment or facilities or parts of the Project, the cost of the repairs, replacements or alterations plus a sum
equal to 20% of the cost for the Landlord’s overhead will be paid by the Tenant to the Landlord on demand. 
  

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 Tenant Not to Overload Floors or Other Facilities 
 7.04 The Tenant will not bring upon the Leased Premises or any part thereof any machinery, equipment, article or thing that by reason of its weight, size or
use might damage the floors of the Leased Premises and that if any damage is caused to the Leased Premises by any machinery, equipment, article or thing or by overloading or by any act, neglect or misuse on the part of the Tenant or any of its
servants, agents or employees or any Person having business with the Tenant will forthwith repair the same or pay to the Landlord the cost of making good the same. 
 Removal and Restoration by the Tenant 
 7.05 All Leasehold Improvements (other than
Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Leased Premises
by the Tenant either during or at the expiry or sooner termination of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under
this Lease; (b) the Tenant shall, at the expiration or earlier termination of the Term, at its sole cost, remove its Trade Fixtures from the Leased Premises, failing which, at the option of the Landlord, the Trade Fixtures shall become the
property of the Landlord and may be removed from the Leased Premises and sold or disposed of by the Landlord in such manner as it deems advisable; and (c) the Tenant shall, at the expiration or earlier termination of the Term, at its sole cost,
either remove such of the Leasehold Improvements in the Leased Premises as the Landlord shall require to be removed, and restore the Leased Premises to the Landlord’s then current base building standard to the extent required by the Landlord,
or at the Landlord’s option, pay to the Landlord the estimated cost of such removal and restoration as determined by the Architect, acting reasonably. If the Landlord requires the Tenant to perform such work, then: (i) the Tenant shall
submit detailed demolition drawings to the Landlord for its prior approval, and such work shall be completed under the supervision of the Landlord; (ii) the Tenant shall, at its expense, repair any damage caused to the Project by such removal;
and (iii) if the Tenant fails to complete such work within 30 days following the expiry or earlier termination of the Term, the Tenant shall pay compensation to the Landlord for each day following such 30th day until completion of such work, at
a rate equal to the per diem Rent payable during the last month preceding the expiry or earlier termination of the Term, which sum is agreed by the parties to be a reasonable estimate of the damages suffered by the Landlord for the loss of use of
the Leased Premises. 
 Liens 
 7.06 The Tenant will ensure that no lien is registered on the Project or any part of it, or against the Landlord’s interest in the Project, or against the Tenant’s interest in the Leased Premises by any person claiming by,
through, under, or against the Tenant or its employees, agents, invitees, licensees, contractors or subcontractors. If the Tenant defaults under this Section, the Landlord may discharge the lien by paying the amount claimed to be due into court or
directly to the lien claimant in the amount paid, as well as the costs and expenses (including solicitor fees on a solicitor and client basis) incurred as the result of the registration of the lien, including the discharge of the lien, will be paid
by the Tenant to the Landlord on demand. 
 Signs and Advertising 
 7.07 The Tenant will not display any sign, picture, notice, lettering or decoration on the exterior of the Leased Premises without the prior written approval of the Landlord, which approval will not be
unreasonably withheld. If the Landlord, acting reasonably, objects to a sign, picture, advertisement, notice, lettering or decoration in the interior of the Leased Premises that is visible from the exterior, the Tenant will immediately remove it.
The Landlord will, at its expense, provide the Tenant with a sign for the purpose of corporate identification at the entrance to the Leased Premises. The Tenant shall provide lettering on such sign at its expense in accordance with the
Landlord’s sign policy for the Project. 
 Heating, Ventilating and Air-Conditioning 
 7.08 (a) The Tenant will operate and regulate the heating, ventilating and air-conditioning and equipment installed by the Landlord in accordance with
building standards, serving the Leased Premises in order to maintain reasonable conditions of temperature and humidity within the Leased Premises. The Tenant will comply with the stipulations and with the Rules and Regulations of the Landlord
pertaining to the operation and regulation of that equipment. 
  

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 (b) The Tenant will pay to the Landlord, as Additional Rent, the charges described in Schedule “D”
of this Lease. 
 Window Covering 
 7.09 Landlord shall, at its option place upon the interior of the windows of the Leased Premises all such window coverings necessary to cover the windows of the Leased Premises of uniform material and
style so adopted by the Landlord for the entire Project. The window coverings installed shall remain the property of the Landlord. 
 ARTICLE VIII 
 LANDLORD’S COVENANTS 
 Taxes Payable by the Landlord 
 8.01 The Landlord will pay all Taxes which are
levied, rated, charged or assessed against the Project or any part of it subject to Sections 6.01.1, 6.01.2 and 6.01.3 of this Lease. However, the Landlord may defer payment of any such Taxes or defer compliance with any statute, law, by-law,
regulation or ordinance in connection with the levying of such Taxes, in each case to the fullest extent permitted by law, if it diligently prosecutes any contest or appeal of those Taxes. 
 Control of the Project by the Landlord 
 8.02 The Landlord will control the management and operation of the Project. In its control, management and operation of the Project the Landlord will have, among its other rights, the right to: (i) close all or any part of the Project
to the extent which the Landlord’s counsel advises is legally sufficient to prevent a dedication of or the accrual of any rights or any person or the public in the Project; (ii) grant, modify and terminate easements and other agreements
pertaining to the use and maintenance of all or any part of the Project; (iii) alter, add to, subtract from, construct improvements to, rearrange; build additional stories on and construct additional facilities adjoining or near the Project;
(iv) relocate the facilities and improvements comprising the Project or erected on the Project, or relocate, alter or rearrange the Leased Premises, provided that the premises as relocated, altered or rearranged shall be in all material aspects
comparable to the original Leased Premises as herein defined; (v) do such things on, or in the Project as are required to comply with any laws, by-laws, regulations, orders or directives affecting the Project; and (vi) do such other things
on or in the Project as the Landlord, in the use of good business judgment determines to be advisable; provided that notwithstanding anything contained in this Section, access to the Leased Premises shall at all times be available. The Landlord
shall not be in breach of its covenant for quiet enjoyment or liable for any loss, costs or damages, whether direct or indirect, incurred by the Tenant due to any of the foregoing. 
 Landlord’s Insurance 
 8.03 The Landlord shall throughout the Term carry:
(a) insurance on the Project (excluding the foundations and excavations) and the machinery, boilers and equipment in or servicing the Project and owned by the Landlord or the owners of the Project (excluding any property which the Tenant and
other tenants are obliged to insure under Section 6.05.1 or similar sections of their respective leases) against damage by fire and extended perils coverage; (b) public liability and property damage insurance with respect to the
Landlord’s operations in the Project; and (c) such other form or forms of insurance as the Landlord or the Mortgagee reasonably considers advisable. Such insurance shall be in such reasonable amounts and with such reasonable deductibles as
would be carried by a prudent owner of a reasonably similar building, having regard to size, age and location. Notwithstanding the Landlord’s covenant in this Section and notwithstanding any contribution by the Tenant to the cost of the
Landlord’s insurance premiums, the Tenant acknowledges and agrees that: (a) the Tenant is not relieved of any liability arising from or contributed to by its negligence or its wilful act or omissions; (b) no insurable interest is
conferred upon the Tenant under any insurance policies carried by the Landlord; and (c) the Tenant has no right to receive any proceeds of any insurance policies carried by the Landlord. 
 Maintenance and Repairs by the Landlord 
 8.04 Subject to Article IX, the Landlord will maintain and repair the Common Areas and Facilities as would a prudent owner of a similar project, having regard to size, age and location but the cost (except for the cost of repairing or
replacing inherent structural defects or weakness’) will be included under Operating Costs. 
  

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 Notices for Sale or to Let 
 8.05 The Landlord shall have the right during the Term of this Lease to place upon the Leased Premises a notice stating that the Project is for sale and shall, within 6 months prior to the expiration of
the Term, have the right to place upon the Leased Premises a notice stating that the Leased Premises are for rent and, the Tenant shall not remove such notice or permit the same to be removed. 
 ARTICLE IX 
 DAMAGE AND DESTRUCTION AND EXPROPRIATION

 Interpretation of Article IX 
 9.01 In this Article: (a) “Damage” means damage (including but not limited to, smoke and water damage and damage that amounts to destruction) that: (i) for the purpose of
Section 9.02 results from a peril against which the Landlord is required to insure under Section 8.03 or against which the Landlord otherwise insures; and (ii) for the purpose of Section 9.03 results from any cause, and
“Damage” has a corresponding meaning; (b) “Usable” means usable by the Tenant for the purposes contemplated by this Lease; (c) “Landlord’s Work” and “Tenant’s Work” means the work described
as Landlord’s Work and Tenant’s Work respectively. 
 Landlord’s Work: 
  

	 	1)	Exterior walls of building 

  

	 	2)	All exterior doors 

  

	 	3)	Roof 

  

	 	4)	Floor - finished concrete 

  

	 	5)	Plumbing - water and sewage services to Landlord’s designated point for Tenant’s connection 

  

	 	6)	Electrical - Main electrical services at 600 volts, 3 phase, 3 wire for standard occupancy, distribution by the Tenant 

  

	 	7)	Sprinkler Main - for standard occupancy 

  

	 	8)	H.V.A.C. - Heating and air-conditioning equipment, the location of which is to be determined by the Landlord for a maximum general lighting and miscellaneous electrical
load of 6.0 watts per square foot of the Premises. Power wiring from roof top unit to a location adjacent to service entrance. Distribution by Tenant. 

 Tenant’s Work: 
  

	 	1)	All other improvements are to be the Tenant’s responsibility. 

 Damage to the Leased Premises 
 9.02 Subject to Section 9.03, if the Leased
Premises are Damaged, the Landlord will repair or reconstruct the Leased Premises promptly, to the extent of the Landlord’s Work. If part or all of the Leased Premises is not Usable because of the Damage, Minimum Rent (but not Additional Rent)
will abate proportionately to the part of the Leased Premises that is not Usable, to the whole of the Leased Premises, from the date of the damage until the earlier of: (i) the date when the whole of the Leased Premises is Usable again; or
(ii) 30 days after substantial completion of the Landlord’s Work. When the Landlord notifies the Tenant that it has completed enough of the Landlord’s Work to enable the tenant to start the Tenant’s Work, the Tenant will complete
the Tenant’s Work and re-open the whole of the Leased Premises for business as soon as possible but in any case within 30 days after the Landlord’s notice. 
 Notwithstanding the foregoing, if the Damage which has occurred in the Leased Premises is such that in the reasonable opinion of the Landlord the Leased Premises cannot be rebuilt or made fit for the
purposes of the Tenant within 90 days of the happening of the Damage, the Landlord may, at its option, terminate this lease on notice to the Tenant given within 30 days after Such Damage. If such notice of termination is given, Rent shall be
apportioned and paid to the date of such Damage and the Tenant shall immediately deliver vacant possession of the Leased Premises in accordance with the terms of this lease. 
 Damage to or Expropriation of the Project 
 9.03(a) Despite anything else in this
Lease, if: (i) more than 50% of the Leasable Premises are Damaged or expropriated, whether or not the Leased Premises are Damaged or expropriated; or (ii) more than 50% of the Common Areas and Facilities is Damaged or expropriated, whether
or not the Leased Premises are Damaged or expropriated, the Landlord may, by written notice to the Tenant within 90 days after the Damage or expropriation, terminate this Lease, effective 30 days after the notice and all Rent will abate as of the
effective date of the termination. 
  

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 (b) If the Project is Damaged or expropriated to the extent described in Section 9.03(a) and the
Landlord does not terminate this Lease, the Landlord will promptly rebuild or repair the Project to the extent of its obligations under its leases for leased premises, but the Landlord may use plans and specifications and working drawings that are
different in content from those used in the original construction of the Project or any part of it and the rebuilt or repaired Project may be different in configuration or design from the Project before the Damage or expropriation. 
 (c) The Landlord and the Tenant will cooperate with each other if there is an expropriation of all or part of the Leased Premises or the Project, so that
each may receive the maximum award that it is entitled to at law. To the extent, however, that a part of the Project, other than the Leased Premises, is expropriated, the full proceeds that are paid or awarded as a result, will belong solely to the
Landlord, and the Tenant will assign to the Landlord any rights that it may have or require in respect of the proceeds or awards and will execute the documents that the Landlord reasonably requires in order to give effect to this intention.

 Landlord’s Architect’s Certificate 
 9.04 A certificate issued by the Landlord’s Architect will bind the parties concerning any of the matters that need to be determined under this Article. 
 ARTICLE X 
 ASSIGNMENT, SUBLETTING, PARTING WITH 
 POSSESSION AND CORPORATE CONTROL 
 Assignments, Subleases and Transfers 
 10.01 The Tenant shall not enter into, consent to or permit any Transfer without the prior written consent of the Landlord in each instance, which consent shall not be unreasonably withheld but shall be
subject to the Landlord’s rights under Section 10.02. Notwithstanding any statutory provision to the contrary, it shall not be considered unreasonable for the Landlord to take into account the following factors in deciding whether to grant
or withhold its consent: (a) whether such Transfer is in violation or in breach of any covenants or restrictions made or granted by the Landlord to other tenants or occupants or prospective tenants or occupants of the Project; (b) whether
in the Landlord’s opinion, the financial background, business history and capability of the proposed Transferee is satisfactory; and (c) if the Transfer is to an existing tenant of the Landlord. Consent by the Landlord to any Transfer if
granted shall not constitute a waiver of the necessity for such consent to any subsequent Transfer. This prohibition against Transfer shall include a prohibition against any Transfer by operation of law and no Transfer shall take place by reason of
the failure of the Landlord to give notice to the Tenant within 30 days as required by Section 10.02. 
 Landlord’s Right to
Terminate 
 10.02 If the Tenant intends to effect a Transfer, the Tenant shall give prior notice to the Landlord of such intent
specifying the identity of the Transferee, the type of Transfer contemplated, the portion of the Leased Premises affected thereby, and the financial and other terms of the Transfer, and shall provide such financial, business or other information
relating to the proposed Transferee and its principals as the Landlord or any Mortgagee requires, together with copies of any documents which record the particulars of the proposed Transfer. The Landlord shall, within 30 days after having received
such notice and all requested information, notify the Tenant either that: (a) it consents or does not consent to the Transfer in accordance with the provisions and qualifications of this Article X; or (b) it elects to cancel this Lease as
to the whole or part, as the case may be, of the Leased Premises affected by the proposed Transfer, in preference to giving such consent. If the Landlord elects to terminate this lease it shall stipulate in its notice the termination date of this
Lease, which date shall be no less than 30 days nor more than 90 days following the giving of such notice of termination. If the Landlord elects to terminate this Lease, the Tenant shall notify the Landlord within 10 days thereafter of the
Tenant’s intention either to refrain from such Transfer or to accept termination of this Lease or the portion thereof in respect of which the Landlord has exercised its rights. If the Tenant fails to deliver such notice within such 10 days or
notifies the Landlord that it accepts the Landlord’s termination, this Lease will as to the whole or affected part of the Leased Premises, as the case may be, be terminated on the date of termination stipulated by the Landlord in its notice of
termination. If the Tenant notifies the Landlord within such 10 days that it intends to refrain from such Transfer, then the Landlord’s election to terminate this Lease shall become void. 
  

 19 

 Conditions of Transfer 
 10.03 A. If there is a permitted Transfer, the Landlord may collect rent from the Transferee and apply the net amount collected to the Rent payable under this lease but no acceptance by the Landlord of
any payments by a Transferee shall be deemed a waiver of the Tenant’s covenants or any acceptance of the Transferee as tenant or a release from the Tenant from the further performance by the Tenant of its obligations under this Lease. Any
consent by the Landlord shall be subject to the Tenant and Transferee executing an agreement with the Landlord agreeing: (i) that the Transferee will be bound by all of the terms of this Lease and, except in the case of a sublease, that the
Transferee will be so bound as if it had originally executed this Lease as tenant; and (ii) to amend the Lease to incorporate such terms, covenants and conditions as are necessary so that the Lease will be in accordance with the Landlord’s
standard form of industrial lease in use for the Project at the time of the Transfer, and so as to incorporate any conditions imposed by the Landlord in its consent or required by this Section 10.03. 
 B. Notwithstanding any Transfer permitted or consented to by the Landlord, the Tenant shall remain liable under this Lease and shall not be released from
performing any of the terms of this Lease. 
 C. The Landlord’s consent to any Transfer shall be subject to the condition that:
(i) the minimum rent and additional rent payable by the Transferee shall not be less than the Minimum Rent and Additional Rent payable by the Tenant under this Lease as at the effective date of the Transfer, (including any increases provided
for in this Lease); and (ii) if the minimum rent and additional rent to be paid by the Transferee under such Transfer exceeds the Minimum Rent and Additional Rent payable under this Lease, the amount of such excess shall be paid by the Tenant
to the Landlord. If the Tenant receives from any Transferee, either directly or indirectly, any consideration other than net rent or additional rent for such Transfer, either in the form of cash, goods or services (other than the proceeds of any
financing as the result of a Transfer involving a mortgage, charge or similar security interest in this lease) the Tenant shall forthwith pay to the Landlord an amount equivalent to such consideration. The Tenant and the Transferee shall execute any
agreement required by the Landlord to give effect to the foregoing terms. 
 D. Notwithstanding the effective date of any permitted Transfer as
between the Tenant and the Transferee, all Minimum Rent and Additional Rent for the month in which such effective date occurs shall be paid in advance by the Tenant so that the Landlord will not be required to accept partial payments of Minimum Rent
and Additional Rent for such month from either the Tenant or Transferee. 
 E. Any document evidencing any Transfer permitted by the Landlord,
or setting out any terms applicable to such Transfer or the rights and obligations of the Tenant or Transferee thereunder, shall be prepared by the Landlord or its solicitors and all associated legal costs shall be paid by the Tenant. 
 Change of Control 
 10.04 If the
Tenant is at any time a corporation or partnership, any actual or proposed Change of Control in such corporation or partnership shall be deemed to be a Transfer and subject to all of the provisions of this Article X. The Tenant shall make available
to the Landlord or its representatives all of its corporate or partnership records, as the case may be, for inspection at all reasonable times, in order to ascertain whether any Change of Control has occurred. 
 No Advertising 
 10.05 The Tenant
shall not advertise that the whole or any part of the Leased Premises are available for a Transfer and shall not permit any broker or other Person to do so unless the text and format of such advertisement is approved in writing by the Landlord. No
such advertisement shall contain any reference to the rental rate of the Leased Premises. 
 Assignment by the Landlord

 10.06 The Landlord shall have the unrestricted right to sell, lease, convey or otherwise dispose of all or any part of the Project and
this Lease or any interest of the Landlord in this lease. To the extent that the purchaser or assignee from the Landlord assumes the obligations of the Landlord under this Lease, the Landlord shall thereupon and without further agreement be released
from all liability under this Lease. 
  

 20 

 ARTICLE XI 
 ACCESS AND ALTERATIONS 
 Right of Entry 
 11.01 It shall be lawful for the Landlord and its agents, at all reasonable times during normal business hours during the Term, to enter the Leased Premises
to inspect the condition thereof. Where an inspection reveals repairs are necessary, whether resulting from act of trespassers, Persons committing unlawful acts or otherwise the Landlord shall give the Tenant notice in writing that such repairs are
to be commenced and thereupon the Tenant will make the necessary repairs in a good and workmanlike manner and the Landlord may enter and view the state of repair. Upon the Tenant’s failure to repair upon notice as herein provided, the Landlord
may repair the same and may charge the cost of repairs as Additional Rent payable within 15 days of demand plus a 20% administration charge. 
 ARTICLE XII 
 STATUS STATEMENT, ATTORNMENT AND SUBORDINATION

 Status Statement 
 12.01 Within 10 days after the Landlord requests it from the Tenant, the Tenant will deliver to the Landlord, on a form supplied by the Landlord, a status statement or certificate to any proposed Mortgagee, purchaser, or other disposee of
part or all of the Project and to the Landlord, stating that this Lease is in full force and effect, except only for any modifications that are set out in the statement or certificate; the commencement and expiry dates of the Lease; the date to
which Rent has been paid under this Lease and the amount of any prepaid Rent or any deposits held by the Landlord; that there is not any uncured default on the part of the Landlord or if there is a default, the certificate will state the
particulars; any other information or statement that a proposed Mortgagee, purchaser, or disposee may reasonably require. 
 Subordination
and Attornment 
 12.02 This Lease is subject and subordinate to all mortgages and deeds of trust and all renewals, modifications,
consolidations, replacements and extensions thereof which may now or at any time hereafter affect the Leased Premises in whole or in part and whether or not such mortgages and deeds of trust shall affect only the Leased Premises or shall be blanket
mortgages and deeds of trust affecting other property as well. The Tenant shall at any time and from time to time on notice from the Landlord attorn to and become a tenant of a mortgagee or trustee under any such mortgage or deed of trust upon the
same terms and conditions as set forth in this Lease and will promptly at any time and from time to time as required by the Landlord during the Term hereof execute all documents and give all further assurances to this proviso as may be reasonably
required to effectuate the postponement of its rights and privileges hereunder to the holder or holders of such mortgages. 
 ARTICLE XIII 
 DEFAULT 
 Right to Re-Enter 
 13.01(a) If the Tenant: 
  

	(i)	defaults in the payment of Rent and fails to remedy the default within 5 days after written notice; 

  

	(ii)	commits a breach of this Lease that is capable of remedy, other than a default in the payment of Rent, and fails to remedy the breach within 10 days after written
notice that: 

  

	 	(1)	specifies particulars of the breach; and 

  

	 	(2)	requires the Tenant to remedy the breach (or if the breach would reasonably take more than 10 days to remedy, fails to start remedying the breach within the ten day
period, or fails to continue diligently and expeditiously to complete the remedy); or 

  

	(iii)	commits a breach of this Lease that is not capable of remedy and receives written notice specifying particulars of the breach 

  

 21 

 then, at the Landlord’s option, the full amount of the current month’s and the next three
(3) months’ instalments of Minimum Rent (calculated according to Section 13.02(b)) and Additional Rent will become due and payable and the Landlord may immediately re-enter the Leased Premises, repossess them and expel all Persons
from the Leased Premises, and may remove all property from the Leased Premises, sell or dispose of it as the Landlord considers appropriate, or store it in a public warehouse or elsewhere at the cost of the Tenant, all without, service of notice,
without legal proceedings, and without liability for loss or damage. 
 (b) In addition to anything else that is a breach of this Lease: if
(i) the Tenant, or a Person carrying on business in a part of the Leased Premises, becomes bankrupt or insolvent; (ii) a receiver or a receiver and manager is appointed for all or a part of the property of the Tenant, or of another Person
carrying on business in the Leased Premises; (iii) steps are taken or proceedings are instituted for the dissolution, winding up or liquidation of the Tenant or its assets; (iv) the Tenant makes or attempts to make a bulk sale of any of
its assets regardless of where they are situated (except for a bulk sale made to a Transferee when the Transfer has been consented to by the Landlord); (v) the Tenant abandons or attempts to abandon the Leased Premises, or sells or disposes of
property of the Tenant or removes it from the Leased Premises so that there does not remain sufficient property of the Tenant on the Leased Premises subject to distress to satisfy the Rent due or accruing for at least twelve (12) months;
(vi) the Leased Premises are vacant or unoccupied for 5 consecutive days; (vii) the Tenant effects or attempts to effect a Transfer that is not permitted by this Lease; or (viii) this Lease or any of the Tenant’s assets on the
Premises are taken or seized under a writ of execution, a chattel mortgage, charge, debenture, or other security instrument; the Tenant will be considered to have breached this Lease, and the Landlord will have all rights and remedies available to
it under this Lease and at law. 
 Right to Terminate or Relet 
 13.02 If the Landlord re-enters the Leased Premises under Section 13.01 or if it takes possession under legal proceedings, it may, without limiting its right to recover damages, either terminate this
Lease, or relet the Leased Premises or a part of them for whatever term or terms (which may be for a term extending beyond the Term) and at whatever Rent and upon whatever other terms, covenants and conditions the Landlord considers advisable. On
each such re-letting, the Rent received by the Landlord from the re-letting will be applied, first to the payment of amounts owed to the Landlord that are not Rent, second to the payment of any costs and expenses of the re-letting including
brokerage fees and solicitors fees, (on a solicitor and his client’s basis), and the costs of any alterations or repairs needed to facilitate the re-letting; third to the payment of Rent; and the residue, if any, will be held by the Landlord
and applied in payment as it becomes due and payable. If Rent received from the reletting during a month is less than that to be paid during that month by the Tenant, the Tenant will pay the deficiency, to be calculated and paid monthly in advance
on or before the first day of every month. No re-entry or taking of the Leased Premises by the Landlord will be construed as an election on its part to terminate this Lease unless a written notice of termination is given to the Tenant. If the
Landlord re-lets without terminating it may afterwards elect to terminate this Lease for the previous default. If the Landlord terminates this Lease for a default, it may recover from the Tenant damages it incurs by reason of the default, including
the cost of recovering the Leased Premises, solicitors’ fees (on a solicitor and his client’s basis) and including the worth at the time of the termination, of the excess, if any, of the amount of Rent required to be paid under this Lease
for the remainder of the Term over the rental value, at the time, of the Leased Premises for the remainder of the Term, all of which amounts will be due immediately and payable by the Tenant to the Landlord. 
 Expenses 
 13.03 If legal proceedings
are brought for recovery of possession of the Leased Premises, for the recovery of Rent, or because of a default by the Tenant, the Tenant will pay to the Landlord its expenses, including its solicitors’ fees (on a solicitor and his
client’s basis). 
 Waiver of Exemption from Distress 
 13.04 Despite the Landlord and Tenant Act, none of the inventory, furniture, equipment or other property that is, or was at any time, owned by the Tenant is exempt from levy by distress for Rent.

  

 22 

 The Landlord’s Right to Cure the Tenant’s Default or Perform the Tenant’s Covenants

 13.05 If the Tenant defaults in the payment of money that is required under this Lease to pay to a third party, the Landlord after
giving 5 days notice in writing to the Tenant, may pay all or part of the amount payable. If the Tenant defaults under this Lease (except for a default in the payment of Rent) the Landlord may, after giving reasonable notice (it being agreed that 48
hours is reasonable notice of a default of Section 6.05), or, without notice in the case of an emergency, perform or cause to be performed all or part of what the Tenant failed to perform and may enter upon the Leased Premises and do those
things that it considers necessary for that purpose. The Tenant will pay to the Landlord on demand, the Landlord’s expenses incurred under this Section plus an amount equal to 20% of those expenses for the Landlord’s overhead. The Landlord
will have no liability to the Tenant for loss or damages resulting from its action or entry upon the Leased Premises. 
 Application of
Money 
 13.06 The Landlord may apply money received from or due to the Tenant against money due and payable under this Lease.

 Remedies Generally 
 13.07 Mention in this Lease of any particular remedy of the Landlord for a default by the Tenant does not preclude the Landlord from any other remedy in respect of it. No remedy will be exclusive or dependent upon any other remedy but the
Landlord may from time to time exercise one or more of its remedies generally or in combination, those remedies being cumulative and not alternative. Whenever the Tenant seeks a remedy in order to enforce the observance or performance of one or more
of the obligations of the Landlord under this Lease, the Tenant’s only remedy will be for damages. The Tenant will not apply for injunctive relief and this provision may be pleaded as an estoppel in any proceedings taken by the Tenant to obtain
injunctive relief. 
 ARTICLE XIV 
 MISCELLANEOUS 
 Rules and Regulations 
 14.01 The Landlord may adopt rules and regulations acting reasonably and they may differentiate between different types of businesses. Each rule and
regulation, as revised from time to time, forms part of this Lease as soon as the rule, regulation or revision is made known to the Tenant. The Tenant will comply with each rule and regulation and each revision to it. No rule or regulation, however,
will contradict the terms, covenants and conditions of this Lease. The Landlord is not responsible to the Tenant for the non-observance of a rule or regulation or of the terms, covenants or conditions of any other lease of Leasable Premises.

 Overholding 
 14.02 If
the Tenant shall continue to occupy the Leased Premises after the expiration of this Lease, with or without the consent of the Landlord and without any further written agreement, the Tenant shall be a monthly tenant at a monthly rental equal to one
and one half times the monthly Minimum Rent and Additional Rent which it was responsible for paying during the last year of the Term and otherwise on the terms and conditions herein set forth, except as to the length of tenancy. 
 Successors 
 14.03 The rights and
liabilities granted to or imposed upon the respective parties to this Lease, extend to and bind the successors and assigns of the Landlord and the heirs, executors, administrators and permitted successors and assigns of the Tenant. No rights,
however, enure to the benefit of any assignee of the Tenant unless the assignment to the assignee has been approved by the Landlord in writing in accordance with Section 10.01. If there is more than one Tenant, they are all bound jointly and
severally by the terms, covenants and conditions in this Lease. 
 Tenant Partnership 
 14.04 If the Tenant is a partnership (“Tenant Partnership”) each Person who is presently a member of the Tenant Partnership, and each Person who
becomes a member of any successor Tenant Partnership, will be and will continue to be liable jointly and severally for the full and complete performance of, and will be and continue to be subject to the terms, covenants and conditions of this Lease,
whether or not that Person ceases to be a member of the Tenant Partnership or successor Tenant Partnership. 
  

 23 

 Waiver 
 14.05 The waiver by the Landlord or the Tenant of a default under this Lease is not a waiver of any subsequent default. The Landlord’s acceptance of Rent after a default is not a waiver of any
preceding default under this Lease even if the Landlord knows of the preceding default at the time of acceptance of the Rent. No term, covenant or condition of this Lease will be considered to have been waived by the Landlord or the Tenant unless
the waiver is in writing. The Tenant waives any statutory or other rights in respect-of abatement, set-off or compensation in its favour that may exist or come to exist in connection with Rent. 
 Accord and Satisfaction 
 14.06
Payment by the Tenant or receipt by the Landlord of less than the required monthly payment of Minimum Rent is on account of the earliest stipulated Minimum Rent. An endorsement or statement on a cheque or letter accompanying a cheque or payment as
Rent is not an acknowledgment of full payment or an accord and satisfaction, and the Landlord may accept and cash the cheque or payment without prejudice to its right to recover the balance of the Rent or pursue its other remedies. 
 Force Majeure 
 14.07 Despite the
rest of this Lease, if the Landlord or the Tenant is, in good faith, delayed or prevented from doing anything required by this Lease, because of a strike; labour trouble; inability to get materials or services; power failure; restrictive
governmental laws or regulations; riots; insurrection; sabotage; rebellion; war; act of God; or any other similar reason, that is not the fault of the party delayed, the doing of the thing is excused for the period of the delay and the party delayed
will do what was delayed or prevented within the appropriate period after the delay. The preceding sentence does not excuse the Tenant from payment of Rent or the Landlord from payment of amounts that it is required to pay, in the amounts and at the
times specified in this Lease. 
 If, due to Unavoidable Delay, the Landlord is delayed in the substantial completion of the
Landlord’s Work, as set out herein, the parties agree to extend the Commencement Date hereunder by the number of days of such delay; provided, however, that if such delay continues for more than 30 days, either party shall have the option of
terminating this Lease on no less than 5 days written notice to the other party. The Tenant understands and agrees that there shall be no extension of the Commencement Date hereunder due to any delays caused by the Tenant or those for whom the
Tenant is responsible for. 
 For the purposes of the foregoing paragraph, “Unavoidable Delay” means any delay by the
Landlord in the performance of the Landlord’s Work as set out herein caused in whole or in part by any acts of God, strikes, lockouts or other industrial disturbances, acts of public enemies, sabotage, war, blockades, insurrections, riots,
epidemics, washouts, nuclear and radiation activity or fallout, arrests, civil disturbances, explosions, breakage of or accident to machinery, any legislative, administrative or judicial action which has been resisted in good faith by all reasonable
legal means, any act, omission or event, whether of the kind herein enumerated or otherwise, not within the control of the Landlord, and which, by the exercise of control of the Landlord, could not have been prevented, but lack of funds on the part
of the Landlord shall not constitute an Unavoidable Delay. 
 Notices 
 14.08 Any notice, request or demand herein provided for or given hereunder if given by the Tenant to the Landlord shall be sufficiently given if hand
delivered or mailed by registered mail, postage prepaid, return receipt requested, addressed to the Landlord at: c/o GWL Realty Advisors, 90 Burnhamthorpe Rd. West, Suite #206, Mississauga, Ontario, L5B
3C3. Any notice herein provided for or given hereunder if given by the Landlord to the Tenant shall be sufficiently given if mailed as aforesaid addressed to the Tenant at the Leased
Premises. A notice, demand, request or consent will be considered to have been given or made on the date that it is delivered, or, if mailed, 72 hours after the date of mailing. Either party may notify the other in writing of a change of address and
the address specified in the notice will be considered the address of the party for the giving of notices under this Lease. If the postal service is interrupted or substantially delayed, any notice, demand, or request or other instrument will only
be delivered in person. A notice given by or to one Tenant is a notice by or to all of the Persons who are the Tenant under this Lease. 
  

 24 

 Registration 
 14.09 The Tenant shall not register this Lease. However, the Tenant may register a Notice of Lease for the purposes of registration, provided such Notice of Lease shall describe the parties, the Leased
Premises, the Term of this Lease and any renewals. Such Notice of Lease shall be prepared by the Tenant’s solicitors, and shall be-subject to the prior written approval of the Landlord and its solicitors, at the Tenant’s expense, and shall
be registered at the Tenant’s expense. 
 Quiet Enjoyment 
 14.10 The Landlord covenants with the Tenant for quiet enjoyment. 
  

			
	SIGNED, SEALED AND DELIVERED
	in the presence of:
	
	THE GREAT-WEST LIFE ASSURANCE COMPANY
	(Landlord)
		
	Per:	 	 /s/ J.A. STEVENSON 

		 	J.A. STEVENSON
		 	DIRECTOR LEASING
		
	Per:	 	 /s/ A.D. TAYLOR 

		 	A.D. TAYLOR
		 	DIRECTOR, ASSET MANAGEMENT
		
	Per:	 	  

		
	and	 	
	
	801611 ONTARIO LTD.
	(Landlord)
		
	Per:	 	 /s/ J.A. STEVENSON 

		 	J.A. STEVENSON
		 	DIRECTOR LEASING
		
	Per:	 	 /s/ A.D. TAYLOR 

		 	A.D. TAYLOR
		 	DIRECTOR, ASSET MANAGEMENT
		
	 Per:
	 	  

	
	PRIMERICA LIFE INSURANCE COMPANY OF CANADA
	(Tenant)
		
	Per:	 	 /s/ ILLEGIBLE

		
	Per:	 	 /s/ ILLEGIBLE

  

 25 

 SCHEDULE “D” 
 CHARGES FOR HEATING AND AIR-CONDITIONING 
  

	A.	THE HVAC SYSTEM 

 The
heating, ventilating and air-conditioning system (“HVAC System”) of the Project is composed of all heating, ventilating and air-conditioning equipment and facilities provided or operated and maintained by the Landlord and includes from
time to time, but is not limited to, any roof-top, ceiling or wall-mounted, or window heating, ventilating or air-conditioning units installed or maintained by the Landlord; the fuel and power facilities of the systems, and distribution piping,
air-handling units and common fan coil and ventilation units which form part of the system; and monitoring, energy saving air control systems including the thermostat in each of the individual units supplied by the HVAC System and those ventilation
systems which serve more than one tenant; but does not include: (i) the individual, self-contained heating, ventilating and air-conditioning system in any premises the tenant or occupant of which installs and maintains the system; (ii) the
distribution system within each tenant’s premises, installed by or for the tenant; and (iii) the tenant maintained ventilation ducts, make-up air facilities, or booster units which are installed by or for individual tenants or a group of
tenants, to satisfy requirements which are in excess of the standard maximum sensible cooling load established by the Landlord, for which result from the production of air which is not suitable for recirculation. 
  

	B.	THE HVAC CHARGE 

  

	 	(a)	In each Rental Year, the total costs (“HVAC Costs”) of the following services (“Services”): operating, maintaining, repairing and replacing the HVAC
System, will be allocated by the Landlord as between the Interior Common Areas (if any) and the Leasable Premises, based where appropriate on the advise of the Landlord’s engineer. 

 The HVAC costs include, but are not limited to, costs for labour including fringe benefits, domestic water, chemicals, lubricants,
maintenance contracts, if any, and depreciation, and all costs incurred by the Landlord and in obtaining engineers’ advice concerning Supplementary Charges (defined in Section “C” of this Schedule “D”) and a fee of 20% of
the total of the HVAC Costs allocated to the Leasable Premises and representing the Landlord’s overhead. 
  

	 	(b)	That part (if any) of the HVAC Costs which is allocated to the Interior Common Areas will be included in the costs described in Section 1.01(xii)(k) of this
Lease. 

  

	 	(c)	The Tenant will pay during each Rental Year, monthly in advance, as Additional Rent a charge (“HVAC Charge”) being its share of the HVAC Costs determined by
deducting from the HVAC Costs allocated to Leasable Premises, the total of the Supplementary Charges, if any, and multiplying the amount so obtained by a fraction, the numerator of which is the Rentable Area of the Leased Premises and the
denominator of which is the total Rentable Area of those Leasable Premises or parts of them occupied throughout the period in respect of which the calculation is made and served by the HVAC System of the Project. 

  

	 	(d)	Should Leasable Premises be occupied by tenants who are solely responsible for providing any of the Services, the Tenant’s HVAC Charge as applied to that Service
or those Services will be adjusted by excluding from the denominator referred to above in this Section B(c), the Rentable Area of those Leasable Premises. 

  

	 	(e)	The Tenant’s HVAC Charge may be estimated by the Landlord for whatever period the Landlord determines from time to time and the Tenant will pay as Additional Rent,
to the Landlord, the Tenant’s HVAC Charge as so determined, in monthly instalments in advance during that period. 

  

 30 

	C.	SUPPLEMENTARY CHARGE 

 If
the Landlord, on the advice of its engineer, determines that the Tenant’s use of the HVAC System imposes abnormal demands on the system, the Tenant agrees to pay an amount determined by the Landlord, acting on the advice of its engineer, as a
Supplementary Charge which Supplementary Charge will be payable on demand at times, and in the manner determined by the Landlord. 
  

	D.	LANDLORD AND TENANT RESPONSIBILITIES 

  

	 	(a)	The Landlord will operate, maintain, repair and replace the HVAC System, but the Tenant will be responsible for repairing and replacing equipment damaged because of
misuse, or the failure of the Tenant to comply with Section 7.08(a) of this Lease. 

  

	 	(b)	The Tenant will not nor will it permit anyone else to enter on the roof of any buildings in the Project for any purpose unless accompanied by a representative
designated by the Landlord for that purpose. Damage caused to the Project or the HVAC System which occurs during any period of time when the Tenant is in default of this subparagraph (b), will be deemed to have been caused by the Tenant.

  

 31 

 SCHEDULE “E” 
 Additional Provisions 
 Parking 
 Notwithstanding anything contained herein to the contrary, it is understood and agreed that the Tenant, at no expense, shall be entitled to three
(3) reserved surface parking spaces in the parking lot area in front of the Building, in a location to be determined by the Landlord, but not policed. The Landlord, at its sole expense, shall provide the Tenant with signage bearing the
Tenant’s name Guest Parking in front of each parking space. 
 “As Is” Basis 
 The Tenant will take possession of the Leased Premises in their current condition, except for the existing washrooms, which may be demolished, but not
without the Tenant’s prior consent, and with the exception of the Landlord’s work set out herein. 
 Landlord’s Work

 Provided this Lease Agreement is executed by all parties, the Landlord shall, by September 30th, 2000 and at its sole expense, construct ten percent
(10%) air-conditioned office space to the Landlord’s Building Standard finishes, excluding washrooms, in accordance with a space plan to be mutually agreed upon by both parties, which shall be agreed on or before July 11th, 2000. 
 The Landlord shall also, at its own expense, construct two (2) washrooms (Male and female) to the Landlord’s Building Standard finishes.

 Space Planning 
 It is understood and agreed that the Landlord shall, at its expense, provide a mutually acceptable space plan and one revision for the Tenant’s layout in the Premises on or before
July 11th, 2000. Should the Tenant require more than
one revision, the cost shall be at the Tenant’s expense. 
 Early Access 
 Notwithstanding the foregoing providing the Lease Agreement has been executed by all parties, the Tenant shall be granted access to the Premises on the date
the Landlord’s Work is substantially completed to the Commencement Date, for the purpose of preparing the Premises for occupancy (the “Early Access Period”). During this Early Access Period the Tenant shall not be obliged to pay Net
Rent or Additional Rent. However, during this Early Access Period the Tenant shall be responsible to pay for utilities and garbage removal services. All other terms and conditions of the Lease shall be in full force and effect. 
 Option to Extend 
 Provided the
Tenant is not in default under the Lease, the Tenant shall have one time Option to Extend this Lease under the following terms and conditions: 
 The Tenant shall have a one time Option to Extend the Lease, upon providing the Landlord with written notice of same no earlier than nine (9) months and no later than six (6) months prior to the expiration of the Lease Term, for a
further period of five (5) years under the same terms and conditions except for Right of Extension, Early Access Period, Landlord’s Work and the Rental Rate, which shall be at the then current Rental Rate for comparable space in the area
in a building of similar size and condition. 
 Transfer of Lease - Default 
 Notwithstanding any provision specified herein to the contrary, provided the Tenant in occupancy of the whole of the Leased Premises is Primerica Life
Insurance Company of Canada and is not in default under the terms of the Lease, the consent of the Landlord shall not be required with respect to a transfer of the Lease resulting from a bona fide corporate reorganization of the Tenant including a
merger, amalgamation, or other such bona fide corporate restructuring of the Tenant (the “Permitted Transfer”) provided that (a) the Tenant shall give at least thirty (30) days prior written notice of such Permitted Transfer and (b) the
parties shall enter into an agreement whereby such transferee under the Permitted Transfer covenants directly with the Landlord to perform all of the terms, covenants and obligations of the Tenant under the Lease and (c) the Landlord is satisfied
that the transferee under the Permitted Transfer has a financial worth at least equal to or greater than the financial worth of the Tenant as at the Commencement Date. 
  

 32 

 LEASE EXTENSION AND AMENDING AGREEMENT 
 This Agreement made August 19, 2008. 
 BETWEEN: 
 THE GREAT-WEST LIFE ASSURANCE COMPANY 
 AND 
 801611 ONTARIO LIMITED 
 (hereinafter collectively, called the “Landlord”) 
 OF THE FIRST PART 
 - and - 
 PRIMERICA LIFE INSURANCE COMPANY OF CANADA 
 (hereinafter called the “Tenant”) 
 OF THE SECOND PART 
 RECITALS: 
  

	A.	By a lease dated June 21, 2000 (the “Lease”), the Landlord leased to the Tenant certain premises comprised of 13,125 square feet of certified
Rentable Area on the ground floor designated as Unit 3, (the “Leased Premises”) in the building municipally known as 6715 Millcreek Drive, Mississauga, Ontario (the “Project”) for a term of 7 years and 4 months,
expiring April 30, 2008; 

  

	B.	The Landlord and the Tenant have agreed to extend the Term of the Lease for a further period of 10 years and to further amend the Lease upon the terms and conditions
hereinafter set forth; 

  

	C.	Except as otherwise expressly provided herein to the contrary, all capitalized terms used in this Agreement shall have the same meaning given to such terms in the
Lease. 

 NOW THEREFORE in consideration of the sum of ten dollars ($10.00) now paid by each party to the
other, and other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged by both parties) the parties agree as follows: 
  

	1.	Recitals The parties hereby acknowledge, confirm and agree that the foregoing recitals are true in substance and in fact. 

  

	2.	Extended Term The Term of the Lease is hereby extended for a further period of 10 years (the “Extended Term”), commencing on May 1,
2008 (the “Effective Date”), and expiring on April 30, 2018 (the “Extended Term Expiry Date”). 

  

	3.	Terms and Conditions The Extended Term shall be upon the same terms and conditions as are contained in the Lease save and except that:

  

	 	(a)	there shall be no further right of renewal or extension beyond the Extended Term and the Tenant hereby waives any renewal or extension rights it may have under the
Lease save and except for the option to extend contemplated in Section 4(k) hereof; 

  

	 	(b)	there shall be no allowance or inducement payable by the Landlord to the Tenant and no fixturing or rent free period provided. Any clauses in the Lease, relating to the
Landlord’s Work, leasehold improvement allowances, Minimum Rent free or Additional Rent free periods, Landlord’s warranties, early occupancy, early access, additional rent estimates and any other such tenant inducements are not applicable
to this Extended Term unless otherwise expressly stated in Section 4 hereof. For greater clarity, but without limiting the generality of the foregoing, the sections titled “As Is” Basis”, “Landlord’s Work”,
“Space Planning” and “Early Access” under Schedule “E” of the Lease are of no further force or effect and shall not apply to the Extended Term and any renewal or extension thereof; 

  

	 	(c)	the Landlord has no responsibility or liability for making any renovations, alterations or improvements in or to the Leased Premises (save and except as set out in
Section 4 hereof) and the Tenant shall accept the Leased Premises in an “as is where is” condition. All further renovations, alterations or improvements in or to the Leased Premises are the sole responsibility of the Tenant and shall
be undertaken and completed, at the Tenant’s expense, and strictly in accordance with the Lease; 

  

	 	(d)	during the period from May 1, 2008 to and including April 30, 2011, annual Minimum Rent for the Leased Premises shall be $82,031.25 payable in equal monthly
instalments of $6,835.94 on the first day of each and every month during such period of the Extended Term without setoff, deduction or abatement whatsoever. The aforementioned Minimum Rent is based on an annual rental rate of $6.25 per square foot
of the Rentable Area of the Leased Premises. 

  

			
	 Primerica Life Insurance Company of Canada
 6715 Millcreek Dr., Mississauga, ON
	 	Page 1

 During the period from May 1, 2011 to and including April 30, 2014, annual Minimum
Rent for the Leased Premises shall be $88,593.75 payable in equal monthly instalments of $7,382.81 on the first day of each and every month during such period of the Extended Term without setoff, deduction or abatement whatsoever. The aforementioned
Minimum Rent is based on an annual rental rate of $6.75 per square foot of the Rentable Area of the Leased Premises. 
 During
the period from May 1, 2014 to and including April 30, 2018, annual Minimum Rent for the Leased Premises shall be $91,875.00 payable in equal monthly instalments of $7,656.25 on the first day of each and every month during such period of
the Extended Term without setoff, deduction or abatement whatsoever. The aforementioned Minimum Rent is based on an annual rental rate of $7.00 per square foot of the Rentable Area of the Leased Premises. 
 Unless otherwise required by the Landlord, the Tenant will pay to the Landlord all monthly instalments of Minimum Rent and Additional Rent,
plus applicable taxes, required to be paid by the Tenant under the Lease, in advance, by way of monthly cheque on the first day of each month of the Extended Term in accordance with the terms set out in the Lease. 
  

	 	(e)	the Lease shall be further amended in accordance with Section 4 of this Agreement. 

  

	4.	Amendments As of the Effective Date, the Lease shall be further amended as follows: 

  

	 	(a)	Operating Costs: 

  

	 	(i)	The following shall be added to the end of Section 1.01 (xii): 

  

	 	  	“For greater clarity, all Operating Costs that are of a capital nature in accordance with generally accepted accounting principles in the real estate industry for
buildings similar to the Project (having regard to age, size and location) shall be amortized on a straight-line basis and taken as Operating Costs over the useful life of the item in question.” 

  

	 	(ii)	Capital Tax shall be added as an item of deduction or exclusion from Operating Costs and shall be added to the end of Section 1.01 (xii) as Section 1.01
(xii)(cc). 

  

	 	(b)	Payment of Additional Rent: The following shall be added to the end of Section 6.04: 

  

	 	“6.04(e)	Notwithstanding anything contained in this Lease to the contrary, upon written request made by the Tenant to the Landlord, the Landlord will provide the Tenant with
reasonable additional supporting documentation as requested by the Tenant in respect of the Landlord’s calculation of Operating Costs, Taxes and utilities.” 

  

	 	(c)	Insurance: The following shall be added to the end of Section 6.05.1: 

  

	 	“6.05.1(c)	The Tenant shall have the option, either alone or in conjunction with Citigroup Inc., the Tenant’s ultimate parent corporation, or any subsidiaries or affiliates
of Citigroup Inc., to maintain self insurance and/or provide or maintain any insurance required by this Lease under blanket insurance policies maintained by the Tenant or Citigroup Inc., or provide or maintain insurance through such alternative risk
management programs as Citigroup Inc. may provide or participate in from time to time (such types of insurance programs being herein collectively and severally referred to as “self insurance”), provided the same does not thereby decrease
the insurance coverage or limits sets forth in this Lease. Upon request, the Tenant shall provide the Landlord with certificates of insurance. If the Tenant does not elect to self-insure, then the Tenant’s insurers will endeavour to provide the
Landlord with not less than 30 days notice in the event the Tenant’s policies are to be cancelled or materially changed. If the Tenant does self-insure, then it will be deemed to be the insurer in accordance with the terms of this Lease. In the
event that the Tenant elects to self-insure for liability insurance, the Tenant will undertake the defense of any claim (including the defense of the Landlord as if it had been an additional insured on the Tenant’s policy) at its sole cost and
expense. 

 Notwithstanding anything to the contrary, the Tenant and those for whom it is responsible at law shall
be released with respect to all claims required to be insured by the Landlord under this Lease or which are otherwise insured.” 
  

	 	(d)	Restoration: The following shall be added to the end of Section 7.05: 

 “Notwithstanding anything contained in this Lease to the contrary, the Tenant shall not be responsible for removing its leasehold
improvements or restoring the Leased Premises to a 
  

			
	 Primerica Life Insurance Company of Canada
 6715 Millcreek Dr., Mississauga, ON
	 	Page 2

 
base building condition at the expiration or earlier termination of this Lease provided, however, the Tenant shall, at its expense: (i) restore the Print Shop (as shown hatched on Schedule
“A” hereof) to base building condition; (ii) remove its furniture, equipment and trade fixtures; (iii) remove any alterations or Leasehold Improvements constructed or installed without Landlord’s prior written consent; and
(iv) repair any damage caused to the Leased Premises as a result of the Tenant’s removal of any of its chattels and equipment from the Leased Premises, and provided further that this shall not absolve the Tenant of its obligations to
repair damage and maintain the Leased Premises as set out in this Lease.” 
  

	 	(e)	Non-Disturbance Agreement: The following shall be added to the end of Section 12.02: 

 “Upon written request of the Tenant, the Landlord shall assist the Tenant in obtaining written assurances from any mortgagee with an
interest in the Project prior to that of the Tenant to the effect that so long as the Tenant is not in default under the terms of this Lease and attorns to such mortgagee, then the mortgagee will not disturb the Tenant’s occupancy of the Leased
Premises. All costs associated with obtaining such written assurances shall be borne by the Tenant and shall be paid by the Tenant to the Landlord within 15 days of request therefor.” 
  

	 	(f)	Overholding: Section 14.02 of the Lease is deleted in its entirety and the following is substituted in its place: 

 “14.02 If the Tenant shall continue to occupy the Leased Premises after the expiration of this Lease, with or without the consent of the
Landlord and without any further written agreement, the Tenant shall be a monthly tenant at a monthly rental equal to one hundred twenty-five percent (125%) of the monthly Minimum Rent and Additional Rent which it was responsible for paying
during the last year of the Term and otherwise on the terms and conditions herein set forth, except as to the length of tenancy.” 
  

	 	(g)	Notice: The Landlord’s address for Notice pursuant to Section 14.08 of the Lease shall be c/o GWL Realty Advisors Inc., Sussex Centre, 50 Burnhamthorpe
Road West, Suite 1500, Mississauga, ON L5B 3C2, Attention: Leasing Department. 

  

	 	(h)	Parking: The section titled “Parking” under Schedule “E” of the Lease is deleted in its entirety and the following is substituted in its
place: 

  

	 	“1.	Parking 

  

	 	  	Throughout the Term including any extensions or renewals thereof, the Tenant shall be entitled to have the use of 4 unreserved parking spaces for every 1,000 square
feet of office Rentable Area leased within the Leased Premises (the “Tenant’s Parking Allotment”) in the surface parking facilities in front of the Leased Premises, on a first come, first served basis, free of
charge, and otherwise in accordance with the terms and conditions contained in this Lease. Within the Tenant’s Parking Allotment, the Tenant shall be entitled to designate, free of charge, up to 3 reserved stalls to be located at the front of
the Leased Premises as reserved solely for the Tenant’s clients and/or employees. All parking stalls shall be assignable to any permitted assignee or subtenant.” 

  

	 	(i)	The following clauses shall be added to Schedule “E” of the Lease: 

  

	 	“3.	Landlord’s Work 

  

	 	  	Prior to the Effective Date, the Landlord will, at its expense on a “once only” basis and utilizing its choice of materials and contractors, complete the
following (the “Landlord’s Work”): 

  

	 	(i)	paint and re-carpet the office area of the Leased Premises in colours and materials to be selected by the tenant from the Landlord’s base building standard; and

  

	 	(ii)	repair or replace the rear entrance door to the Leased Premises and replace the existing hot water tank with a larger water tank sufficient in size to satisfy the
Tenant’s requirements. 

  

	 	  	Any costs to the Landlord (other than costs resulting from the above-described Landlord’s Work) resulting from the Tenant’s use or layout of, or alterations
or changes to, the Leased Premises shall be at the Tenant’s sole cost. 

  

	 	  	All further renovations, alterations or improvements in or to the Leased Premises are the sole responsibility of the Tenant and shall be undertaken and completed at the
Tenant’s expense and strictly in accordance with the provisions of this Lease. 

  

			
	 Primerica Life Insurance Company of Canada
 6715 Millcreek Dr., Mississauga, ON
	 	Page 3

	 	4.	Relocation and Continuous Occupancy 

  

	 	  	Notwithstanding anything contained in this Lease to the contrary, the Landlord shall not be permitted to relocate the Leased Premises and there shall be no obligation
on the part of the Tenant to continuously operate from the Leased Premises provided that the Tenant shall not be relieved of its obligation to pay Rent and perform and observe the other provisions of this Lease. 

  

	 	5.	Option to Extend 

  

	 	  	Provided the Required Conditions (as defined below) have been met, the Tenant will have a non-transferable right (save and except to an affiliate corporation of the
Tenant, as that term is defined under the Business Corporations Act (Canada)) to extend the Term for 2 periods of 5 years each, upon written notice given to the Landlord at least 6 months but not more than 12 months prior to the expiry of the
then-current Term. Minimum Rent payable during the extension terms shall be based upon the then-prevailing fair market net rental for similar premises similarly located. Should the Tenant not exercise any extension right, then that extension right
and all subsequent extension rights shall be lost and deemed null and void. If the parties cannot agree on the Minimum Rent payable during the extension term within 45 days following the date on which the Tenant has provided its notice to exercise,
then the Minimum Rent will be determined by a single arbitrator jointly selected by the parties within 20 days after expiration of the 45 day period referred to above. 

  

	 	  	If the parties are unable to agree upon a single arbitrator within such 20 day period, then both parties will, within 7 days after the expiration of that 20 day period,
advise the other party of their appointment of a single arbitrator and both arbitrators so appointed will jointly appoint a third arbitrator within 7 days after their own appointment. If any of the parties fails to appoint their own arbitrator
within the 7 day period, then the arbitrator appointed by the other party will be deemed to have authority to determine the matter alone. If both parties fail to each appoint their own arbitrator, then the within option shall be null and void and of
no effect. 

  

	 	  	The decision of the arbitrator as to the Minimum Rent or, where there is a panel of 3 arbitrators, the decision of a majority of such arbitrators, must be reached
before the start of the extension term and all costs of the arbitration will be shared equally between the parties. If the arbitration decision has not been given prior to the start of the extension term, then from and after the first day of the
extension term, the Tenant will pay the minimum rent which the Landlord sets forth as reflecting the fair market net rental and any necessary adjustments following the arbitration decision will be made retroactive to the first day of the extension
term. 

  

	 	  	At the Landlord’s option, the Tenant will execute an extension agreement, as prepared by the Landlord, to give effect to the extension term. Reference in this
Lease to any rights to early occupancy or rent free periods, indemnities of the Landlord in favour of the Tenant or requirements on the Landlord’s part to perform any work or to pay to the Tenant any construction allowance, inducement, loan or
other amount in connection with this Lease or improvements installed in the Leased Premises, shall not apply to the extension term, such rights, indemnities and requirements being deemed to have expired with the expiry of the then-current Term of
this Lease. Without limiting the generality of the foregoing, the Landlord’s right to terminate as set out in Article X of this Lease shall apply during such extensions of term as set out herein. 

  

	 	  	“Required Conditions” means: (i) the Tenant has paid all Rent as and when due and punctually observed and performed the covenants and obligations
of the Tenant under the Lease, as amended by a Lease Extension and Amending Agreement dated August 19, 2008; and (ii) no Transfer of the Lease (save and except to an affiliate corporation of the Tenant, as that term is defined under the
Business Corporations Act (Canada)), as amended by a Lease Extension and Amending Agreement dated August 19, 2008, has occurred and Primerica Life Insurance Company of Canada (or an affiliate corporation thereof, as that term is defined under
the Business Corporations Act (Canada)) is in occupation of and conducting business in the whole of the Leased Premises. 

  

	 	(j)	Deletions: The sections titled “As Is” Basis”, “Landlord’s Work”, “Space Planning”, “Early Access” and
“Option to Extend” under Schedule “E” of the Lease are deleted in their entirety as they are of no further force or effect. 

  

	5.	Authority The Landlord and Tenant represent and warrant that they have the right, full power and authority to agree to extend the Term and amend the Lease
as provided in this Agreement. 

  

	6.	Confidential The Tenant shall not disclose to any person the financial or any other terms of this Agreement, except to its professional advisors,
consultants and auditors, in their capacity as such and except as otherwise required by law. 

  

			
	 Primerica Life Insurance Company of Canada
 6715 Millcreek Dr., Mississauga, ON
	 	Page 4

	7.	No Representations No agreement, representations, warranties or conditions relating to the Leased Premises or the contents of this Agreement or the Lease
have been made except as are expressly set out herein. The Tenant acknowledges that no indemnities of the Landlord in favour of the Tenant have been given under this Agreement and any indemnities of the Landlord in favour of the Tenant given under
the Lease will not apply during the Extended Term or be restated under this Agreement, such indemnities being deemed to have expired with the expiry of the initial Term of the Lease. 

  

	8.	Confirmation Save as otherwise provided herein, whenever the term “Lease” or “lease” is used in this Agreement (except
in the recitals), it is understood and agreed to mean the Lease as amended by this Agreement. Save as otherwise provided herein, whenever the term “Term” is used in this Agreement (except in the recitals), it is understood and
agreed to mean the Term as extended by this Agreement. The parties confirm that except as modified by this Agreement, the terms, covenants and conditions of the Lease remain unchanged and in full force and effect. All capitalized terms and
expressions when used in this Agreement, unless a contrary intention is expressed herein, have the same meaning as they have in the Lease. 

  

	9.	Binding This Agreement shall enure to the benefit of and be binding upon the parties hereto, the successors and assigns of the Landlord and the successors
and permitted assigns of the Tenant. 

 IN WITNESS WHEREOF the parties hereto have executed this Agreement.

  

			
	LANDLORD:
	THE GREAT-WEST LIFE ASSURANCE COMPANY
		
	 By:
	 	 /s/ Michael S. Bombardier

	 Name:
	 	Michael S. Bombardier
	 Title:
	 	Director, Asset Management
		
	 By:
	 	 /s/ GLENN WAY

	 Name:
	 	GLENN WAY
	 Title:
	 	VICE PRESIDENT, ASSET MANAGEMENT
	
	We have authority to bind the Corporation
	
	LANDLORD:
	801611 ONTARIO LIMITED
		
	 By:
	 	 /s/ Michael S. Bombardier

	 Name:
	 	Michael S. Bombardier
	 Title:
	 	Director, Asset Management
		
	 By:
	 	 /s/ GLENN WAY

	 Name:
	 	GLENN WAY
	 Title:
	 	VICE PRESIDENT, ASSET MANAGEMENT
	
	We have authority to bind the Corporation
	
	 TENANT:
 PRIMERICA LIFE INSURANCE COMPANY OF CANADA

		
	 By:
	 	 /s/ John P. Adams

	 Name:
	 	John P. Adams
	 Title:
	 	CEO
		
	 By:
	 	 /s/ D. Shannon

	 Name:
	 	D. Shannon
	 Title:
	 	General Counsel
	
	 We/I have authority to bind the Corporation.

  

			
	 Primerica Life Insurance Company of Canada
 6715 Millcreek Dr., Mississauga, ON
	 	Page 5Mutual Fund Dealer Agreement

 Exhibit 10.26 
 Confidential materials omitted and filed 
 separately with the
Securities and Exchange 
 Commission. Asterisks denote omissions. 
 PFS INVESTMENTS INC. 
 MUTUAL FUND DEALER AGREEMENT

 Ladies and Gentlemen: 
 We understand that you are principal underwriter of shares (the “Shares”) of certain mutual funds listed on Schedule A attached hereto (the “Funds”) registered with the Securities and Exchange Commission under the
Investment Company Act of 1940, as amended (“1940 Act”). Legg Mason Investor Services, LLC (“LMIS” or “You”) desires that PFS Investments Inc. (“Dealer” or “PFSI”) act as a dealer with respect to the
sale of Shares to its customers. In consideration of the mutual covenants stated below, you and Dealer agree as follows: 
  

	1.	Purchase of Shares at Public Offering Price. You authorize Dealer, among other things, to receive purchase orders for Shares on your behalf. Dealer will use such
efforts to sell Shares as it in its sole discretion determines in accordance with applicable federal and state laws and rules and regulations, including rules and regulations of relevant self-regulatory organizations (collectively, “Applicable
Law”). Sales of Shares through Dealer will be at the public offering price of such Shares (the net asset value of Shares plus any applicable sales charge), as determined in accordance with the then effective prospectus(es) and statement(s) of
additional information, as such may be amended and supplemented from time-to-time, used in connection with the offer and sale of the Shares (collectively, the “Prospectus”). The public offering price will reflect scheduled variations in or
the elimination of sales charges on sales of Shares either generally to the public or in connection with special purchase plans, as described in the Prospectus. Dealer agrees to apply any scheduled variation in or waivers of sales charges uniformly
to all customers meeting the qualifications therefor as specified in the Prospectus. Purchases of Shares by PFSI will be effected in the manner and upon the terms described in the Prospectus (including restrictions on frequent trading, imposition of
redemption fees and restrictions on small account balances.) All orders are subject to acceptance or rejection by the applicable Fund or you in the sole discretion of either for any reason. The minimum initial purchase and the minimum subsequent
purchase of any Shares shall be as set forth in the applicable Prospectus. Dealer agrees to comply with provisions of Rule 22c-2 under the 1940 Act as applicable to each Fund (including reporting procedures adopted to comply with the Rule).

  

	2.	Rights of Accumulation and Letters of Intent. With respect to Funds sold with an initial sales charge, Dealer’s customers will be entitled to reduce sales
charges on purchases made under any letter of intent or right of accumulation as described in the Prospectus. In such case, the concession from the public offering price retained by Dealer will be based upon such reduced sales charge; however, if a
Dealer customer fails to fulfill a letter of intent, thereafter you will pay Dealer the amount required to reflect the appropriate concession based on the actual purchases made by the customer. When placing wire trades, Dealer agrees to advise you
of any letter of intent executed by its customer or any available right of accumulation. 

  

 1 

	3.	Exchanges and Redemptions. You further authorize Dealer to receive exchange or redemption orders for Shares on your behalf. Exchanges of Shares between Funds and
redemptions of Shares by a Fund or repurchases of Shares by Dealer will be effected in the manner and subject to or consistent with the terms described in the Prospectus and in accordance with Applicable Law. Exchanges will be subject to such
restrictions and charges as are provided for in the Prospectus. Redemptions and repurchases will be subject to any applicable contingent deferred sales charges, redemption fees or other charges as are provided for in the Prospectus. Any order placed
by Dealer for the repurchase or redemption of Shares is subject to the timely receipt by you or the pertinent Fund’s transfer agent of all required documents in good order. 

  

	4.	Handling and Receipt of Orders. The handling and settlement of purchase, exchange and redemption orders will be subject to the provisions of the Prospectus and
such further procedures as you and Dealer may determine to be appropriate from time-to-time, consistent with this Agreement. You acknowledge and understand that Dealer operates as an introducing broker-dealer that does not hold customer funds or
securities and that Dealer will transmit orders direct to your transfer agent via check and application. You will provide such assistance to Dealer in processing orders as Dealer reasonably requests. You shall notify Dealer of the states or
jurisdictions in which each Fund’s shares are currently available for sale to the public. You shall have no obligation to register or make available Fund shares in any state or jurisdiction. With each order, Dealer will notify you of the state
of residence of the customer to whom the order pertains. Dealer will be responsible for the accuracy, timeliness and completeness of purchase, redemption or exchange orders it transmits to you by wire or telephone. All orders shall be subject to
your confirmation. 

  

	5.	Settlement and Delivery. 

  

	 	A.	Certificates evidencing Shares will not be available. Upon payment for Shares, the Transfer Agent will issue and transmit to Dealer or its customer a confirmation
statement evidencing the purchase of such Shares. Any transaction in uncertificated Shares, including purchases, transfers, redemptions and repurchases, shall be effected and evidenced by book-entry on the records of the Transfer Agent.

  

	 	B.	Dealer will transmit orders (new account applications) direct to your Transfer Agent on a fully disclosed basis, and shares of Funds owned by customers of Dealer will
be held at your Transfer Agent. 

  

	6.	 Shareholder Servicing. For the compensation described in Paragraph 7, on an ongoing basis Dealer will provide shareholder servicing to its
customers who maintain investments in Shares. In so doing, Dealer and its employees and representatives may provide the following services, among others: (a) answer customer inquiries regarding the Funds and customer investments therein;
(b) assist customers in changing dividend options; (c) answer questions about special investment and

  

 2 

	 	 
withdrawal plans, and assist customers in enrolling in such plans; (d) distribute reports and materials relating to the Funds to customers; (e) assist in the establishment and maintenance of
accurate customer accounts and records, including assisting in processing changes in addresses and other customer information; and (f) assist in processing purchase, exchange and redemption orders. 

  

	7.	Compensation and Expenses. 

  

	 	A.	With respect to Class A Shares that are sold with an initial sales charge, LMIS shall pay to Dealer the sales charge imposed on the purchases of such shares less
any concession from the public offering price as specified in the applicable fund prospectus (the “dealer reallowance”). LMIS shall pay to Dealer the shareholder services fee beginning in the first month after purchase. LMIS shall cause
the dealer reallowance and shareholder service fees due Dealer to be paid in accordance with current payment practices that exist between Dealer and Transfer Agent. 

  

	 	B.	With respect to purchases of Class A shares that are sold without an initial sales charge at the net asset value breakpoint level (other than money market funds),
LMIS will pay a commission to Dealer of up to 1.00% of the purchase price of the shares and LMIS will retain the amount of any contingent deferred sales charge paid on redemption of such shares. LMIS will pay to Dealer the shareholder services fee
on such shares beginning in the thirteenth month after purchase. With respect to purchases of Class A shares of money market funds, LMIS shall pay to Dealer the shareholder services fee beginning in the first month after purchase. LMIS shall
cause the foregoing payments due Dealer to be made in accordance with current payment practices that exist between Dealer and Transfer Agent. LMIS shall pay to Dealer any contingent deferred sales charge received on redemption of Class A shares
that were sold by Dealer prior to December 1, 2007, and such payments shall be made by LMIS on a monthly basis, by wire transfer within ten (10) business days of the end of each month. 

  

	 	C.	With respect to Class B shares, Dealer will pay a commission to its representatives of up to 4.00% of the purchase price of the shares and LMIS shall pay to Dealer the
following: (i) any contingent deferred sales charges received upon redemption of Class B shares held in accounts on which Dealer is the broker-dealer of record, and (ii) the service and distribution fee, as disclosed in the then current
prospectus, received on all shares held in accounts on which Dealer is the broker-dealer of record. LMIS shall cause Transfer Agent to pay amounts due Dealer under this subparagraph in accordance with current payment practices that exist between
Dealer and Transfer Agent. 

  

	 	D.	The shareholder services fees paid to Dealer under Subparagraphs 7.A. B. and C. above shall survive any termination of this Agreement, and shall continue so long as
(i) Dealer provides shareholder services described in Paragraph 6 of this agreement to its customers who hold Shares and (ii) you or a Legg Mason, Inc. affiliate or one of your or their respective successors or assigns is the principal
underwriter for the Funds, unless the continued receipt of each payment would violate Applicable Law. 

  

 3 

	 	E.	You will pay Dealer ongoing trail commission compensation with respect to holdings by customers of Dealer of Shares of Funds with respect to which you pay such
compensation generally to dealers as described in the Prospectus and at such rates as you and Dealer may determine from time to time. Payments under this Subparagraph 7.E. may be in addition to the payment of service fees as described in
Subparagraph 7.D. of this Agreement, and are subject to Applicable Law and this Agreement. Your obligation to make payments to Dealer under this Subparagraph 7.E. shall survive any termination of this Agreement, and shall continue so long as
(i) Dealer’s customers maintain their investments in Shares and (ii) you or a Legg Mason, Inc. affiliate or one of your or their respective successors or assigns is the principal underwriter for the Funds, unless the continued receipt
of each payment would violate Applicable Law. 

  

	 	F.	With respect to expenses not specifically addressed elsewhere in this Agreement, each party hereto will be responsible for the expenses it incurs in acting hereunder.
Consistent with the Prospectus and Applicable Law, from time to time you and Dealer may determine that you will pay or reimburse Dealer for expenses it incurs in connection with selling Shares. 

  

	 	G.	If your payments to Dealer under Subparagraphs 7.E and/or 7.D hereunder in whole or in part are financed by a Fund in accordance with a Fund’s plan of distribution
adopted pursuant to Rule 12b-1 under the 1940 Act, then in the event of the termination, cancellation or modification of such 12b-1 plan by a Fund’s board of directors or trustees or shareholders, Dealer agrees upon notification to waive its
right to receive Rule 12b-1 compensation pursuant to Subparagraphs 7.B. and/or 7.C. until such time, if ever, as you receive payment. 

  

	 	H.	With respect to shares subject to a contingent deferred sales load where Dealer has paid a commission to its representatives from its own resources, the parties agree
to cooperate in the transfer of shares held by customers of PFSI. The remaining contingent deferred sales charge on any such transferred shares will be tracked by PFPC, and, on a monthly basis, LMIS and PFSI shall net settle transferred contingent
deferred sales charges. Such payment shall be paid by wire transfer within ten (10) business days following month end. 

  

	 	I.	Mutual Fund Support Fee. LMIS hereby agrees to pay PFSI, in consideration of the Funds’ participation in PFSI’s retail distribution channel and related
mutual fund sales infrastructure, a Mutual Fund Support Fee (“Fee”) at the rates set forth in the attached Schedule B. LMIS understands and agrees that “participation” as used in the preceding sentence does not in any way mean
exclusive or preferential offering, access or participation, inclusion on any “recommended” list, or preferential consideration in investment recommendations to customers. LMIS shall pay the fee within 30 days of its receipt from PFSI of a
monthly invoice, beginning with the month ending December 31, 2007. LMIS confirms that it will pay the Fee from its own revenues, profits, or retained earnings and not from the assets of the Funds. Both parties will disclose the Fee as may be
required by applicable law and otherwise will comply with all applicable law with respect to the payment or receipt of the Fee 

  

 4 

	8.	Broker-Dealer Regulation. Each party to this Agreement represents that it is a broker-dealer registered with the Securities and Exchange Commission
(“SEC”) and a member of Financial Industry Regulatory Authority (“FINRA”) and each party agrees to notify the other should it cease to be such a member through expulsion or otherwise or if its membership is suspended.

 With respect to the sale of Shares hereunder, you and Dealer agree to abide by the Conduct Rules of FINRA,
including but not limited to the following: 
  

	 	A.	Dealer shall not withhold placing customers’ orders for Shares so as to profit itself as a result of such withholding. Dealer shall not purchase any Shares from
you other than for its own investment or to cover purchase orders already received by it from its customers. 

  

	 	B.	If any Shares purchased by Dealer are repurchased by the Fund which issued such Shares or by you for the account of that Fund, or are tendered for redemption, within
seven (7) business days after confirmation by you of the original purchase order for such Shares, no compensation as set forth in paragraph 7 above will be payable to Dealer with respect to such Shares, and with respect to Shares which are not
sold with an initial sales charge, Dealer will refund to you the full amount of any such compensation paid or allowed to it on the original sale. You agree to notify Dealer in writing of any such repurchase or redemption within fifteen
(15) business days of the date on which the redemption is requested or Share certificates are tendered to you, the pertinent Fund or its Transfer Agent. Termination or cancellation of this Agreement will not relieve the parties from the
requirements of this Subparagraph 8.B. 

  

	 	C.	Neither party to this Agreement will, as principal, purchase any Shares from a customer at a price lower than the net asset value next determined by or for the Fund
that issued such Shares. Nothing in this subparagraph shall prevent Dealer from selling Shares for a customer to you or to the Fund which issued such Shares at the net asset value then quoted by or for such Fund (less any applicable contingent
deferred sales charge or other charges) and charging a fair commission or service fee for handling the transaction. 

  

	9.	Provision of Materials and Fund Information. 

  

	 	A.	You will furnish Dealer with each Fund’s current Prospectuses, periodic reports to Fund shareholders, marketing and other materials you have prepared relating to
the Funds, in such quantities as Dealer reasonably requests 

  

	 	B.	You shall use reasonable efforts to notify Dealer of any departure by a Fund portfolio manager promptly upon your receipt of such notice of an intended departure.

  

	 	C.	You shall make reasonable efforts to provide access to the portfolio manager(s) (or their representatives) of each Fund to the employees and representatives of Dealer,
as designated by Dealer from time-to-time, which access shall be for the limited purpose of conducting due diligence and discussing other significant issues. 

  

 5 

	 	D.	Subject to all Applicable Law, you will promptly notify Dealer (upon your receipt of notice) of all material changes regarding: 

 (a) Proposed or actual mergers, name changes and liquidations 
 (b) Investment objective/strategy changes 
 (c) Proxy statements 
 (d) Changes to Fund’s Prospectus or statement of additional information, and 
 (e) Proposed or actual pricing changes 
  

	10.	Representations by Dealer Concerning the Funds. Dealer and its agents and employees are not authorized to make any representations concerning the Funds or their
Shares except those contained in or consistent with the Prospectus and such other written materials you may provide to Dealer regarding the Funds. 

  

	11.	Prospectus and Materials Delivery to Clients. Dealer will provide each of its customers purchasing Shares with the pertinent prospectus(es) prior to or at the
time of initial purchase. Dealer will provide any customer who so requests with the pertinent statement(s) of additional information. You are responsible for providing to shareholders, at your expense, all shareholder proxy materials, all annual or
interim reports, all prospectuses and prospectus amendments (other than that provided at the time of initial purchase by Dealer), and any other materials required by law, rule or regulation. 

  

	12.	Liability and Indemnification. 

  

	 	A.	You agree to be liable for, to hold Dealer, its officers, directors and employees harmless from and to indemnify each of them for any losses and costs arising from:
(i) any breach by you, your affiliates or their respective officers, directors, employees or agents of any material provision of this Agreement; (ii) any material misstatement in or omission of a material fact from a Fund’s Prospectus
necessary to make the statements in the Prospectus thereof not misleading, or any other sales material you have provided or any other written statements or representations, you or your affiliates and each of your and their respective officers,
directors, employees or agents have made to Dealer relating to the Funds; and (iii) any of your actions, or the actions of your affiliates, relating to the processing of purchase, exchange and redemption orders and the servicing of shareholder
accounts. This indemnity shall not apply to any claims, demands, liabilities, or expenses that arise out of or are based upon any such untrue statement or omission made in reliance upon and in conformity with information furnished by or on behalf of
Dealer to you, any Fund or the Funds’ counsel; and further provided, that in no event shall anything contained herein be so construed as to protect Dealer against any liability to you, any Fund or the shareholders of any Fund to which Dealer
would otherwise be subject by reason of willful misfeasance, recklessness, or gross negligence in the performance of its duties under this Agreement. You shall not be liable for any consequential or punitive damages. 

  

 6 

	 	B.	Dealer agrees to be liable for, to hold you, your officers, directors and employees harmless from and to indemnify them from any losses and costs arising from:
(i) any breach by Dealer, its affiliates or their respective officers, directors, employees or agents of any material provision of this Agreement; (ii) any statements or representations that Dealer or its officers, directors, agents or
employees make concerning the Funds that are inconsistent with either the pertinent Funds’ then-current Prospectus or any other material you have provided or any other written statements or written representations you, your employees and your
affiliates have made to Dealer relating to the Funds; and (iii) any of Dealer’s actions, or the actions of Dealer’s affiliates, relating to the processing of purchase, exchange and redemption orders and the servicing of shareholder
accounts. This indemnity shall not apply to any claims, demands, liabilities, or expenses that arise out of or are based upon any untrue statement or omission made in reliance upon and in conformity with information furnished by or on behalf of you,
any Fund or the Funds’ counsel to Dealer, and further provided, that in no event shall anything contained herein be so construed as to protect you against any liability to Dealer, any Fund or the shareholders of any Fund to which you would
otherwise be subject by reason of willful misfeasance, recklessness, or gross negligence in the performance of your duties under this Agreement. Dealer shall not be liable for any consequential or punitive damages. 

  

	 	C.	The provisions of this Paragraph 12 shall survive the termination of this Agreement. 

  

	13.	Arbitration. If a dispute arises between you and Dealer with respect to this Agreement which the parties are unable to resolve themselves, it shall be settled by
arbitration in accordance with the then-existing FINRA Code of Arbitration Procedure (“FINRA Code”). The parties agree, that to the extent permitted by the FINRA Code, the arbitrator(s) shall be selected from the securities industry.

  

	14.	Anti-Money Laundering. Dealer represents and warrants that it has anti-money laundering policies in place reasonably designed to comply with the applicable
provisions of the Bank Secrecy Act and the USA PATRIOT Act and the regulations thereunder, including, without limitation, Section 352 of the USA Patriot Act, FINRA Rule 3011, and NYSE Rule 445 which include: Anti-Money Laundering/ “Know
Your Customer” policies and procedures; a Customer Identification Program in accordance with Section 326 of the USA Patriot Act; reporting of suspicious activity to government authorities in accordance with applicable law, including
Section 356 of the USA Patriot Act; anti-money laundering training; and an independent testing for compliance. You agree to determine, within a reasonable time after a customer of Dealer opens an account in any of the Funds, whether such
customer appears on any lists of known or suspected terrorists or terrorist organizations (“OFAC list”). Upon discovering that any such customer is identified on an OFAC list, you will, within a reasonable time after making such discovery
and as permitted by applicable law, notify Dealer. Also, you agree to establish (or cause your Transfer Agent to establish) reasonable procedures to monitor the accounts for suspicious activity, and, as permitted by Law, to (i) advise Dealer
when any customer activity is identified for heightened review and upon the filing of a suspicious activity report and (ii) to share information with Dealer about any such account. 

  

 7 

	15.	Confidentiality and Privacy. The parties represent and warrant that they have adopted and implemented procedures to safeguard customer information and records
that are reasonably designed to ensure the security and confidentiality of customer records and information and to ensure compliance with the SEC’s Regulation S-P or other applicable privacy law. Both of us agree on behalf of ourselves, our
affiliates and employees, that the terms of the Agreement, information exchanged thereunder and information about our respective customers and potential customers is confidential and as such shall not be disclosed, sold or used in any way except to
carry out the terms of the Agreement. Notwithstanding the foregoing, such confidential information may be disclosed on a “need to know” basis as set forth in applicable privacy rules and regulations. The obligations regarding
confidentiality hereunder shall not apply to any information which is (i) otherwise publicly available, (ii) already possessed by the entity to whom the information was disclosed prior to disclosure hereunder, (iii) independently
developed by the entity, or (iv) disclosed pursuant to law, rule, regulation or court or administrative order. The provisions of this paragraph shall survive termination of the Agreement. The parties further represent and warrant that the
security of their respective computer system is commercially reasonable and reasonably designed to prevent any illegal or injurious activities of persons (including persons outside of the parties) attempting to access a computer system maintained or
operated by or on behalf of one party through the other party’s computer system. 

  

	16.	Duration and Termination. 

  

	 	A.	This Agreement is effective on June 1, 2008. 

  

	 	B.	This Agreement will terminate automatically in the event of its assignment unless both parties consent to such assignment. Notwithstanding anything to contrary in this
Agreement, both parties hereby consent to the assignment of your rights, obligations and responsibilities under this Agreement to Legg Mason Investor Services, LLC. 

  

	 	C.	This Agreement may be terminated at any time in its entirety or with respect to any Fund, without payment of any penalty, by either party, upon giving 30 days written
notice to the other party. 

  

	17.	Miscellaneous. 

  

	 	A.	This Agreement shall be governed by the laws of the State of New York. This Agreement may be amended only upon the written agreement of both parties hereto.

  

	 	B.	 This Agreement and the Amended and Restated Global Distribution Agreement (“GDA”) by and among Legg Mason, Inc. and Citigroup, Inc., dated as
of October 3, 2005 (collectively, the “Covered Agreements”) constitute the entire agreement between you and Dealer in relation to this Agreement and supersede all

  

 8 

	 	 
prior oral or written agreements between you and Dealer and its predecessors relating to the sale of Shares with respect to the subject matter of this Agreement. Each of you and Dealer
acknowledges and agrees that (i) nothing contained in this agreement is intended to amend or otherwise modify the terms of the GDA applicable to you and Dealer and (ii) in the event that the terms of this Agreement conflict with the terms
of the GDA, the terms of the GDA will control for purposes of this Agreement. 

  

	 	C.	The headings and captions in the Agreement are included for convenience of reference only and in no way define or delimit any of the provisions hereof or otherwise
affect their construction or effect. 

  

	 	D.	If any provision of the Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of the Agreement shall not be affected
thereby. 

  

	 	E.	The Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors. 

  

	 	F.	As used in the Agreement, the terms “majority of the outstanding voting securities,” “interested person” and “assignment” shall have the
same meaning as such terms have in the 1940 Act. Any terms defined in the Agreement shall have the meaning provided in the Agreement. 

  

	 	G.	Scheduled A attached to this agreement may be amended from time to time by mutual agreement of the parties pursuant to letter agreement or such other means as mutually
agreed to by the parties. 

  

	18.	Use of Names. Neither party shall use the name of the other party in any manner without the other party’s written consent, except as required by any
applicable federal or state law, rule or regulation, and except pursuant to any mutually agreed upon promotional programs. 

  

	19.	Notice. Notice under this Agreement shall be deemed to have been given on the date it is received in writing by the other party. 

  

	20.	Parties Not Partners. This Agreement shall not be construed to constitute a partnership, joint venture, or agency between you and Dealer and you or any Fund, nor
to create an employer-employee relationship between you and Dealer. Dealer acknowledges that it is an independent contractor, that its business is its own and entirely separate from that of you and the Funds, and that it will not deal with or
represent itself to the public in any other way. 

  

	21.	Services Not Exclusive. Except as otherwise agreed to by the parties or as provided in a Covered Agreement, the services furnished by Dealer hereunder are not to
be deemed exclusive, and Dealer shall be free to furnish similar services to others so long as its services under this Agreement are not impaired thereby. Except as otherwise provided for in a Covered Agreement, this Agreement also does not preclude
any other sales of Share by or through you or any other party. 

  

 9 

	22.	Advertising. You agree to make available sales and advertising materials relating to the Shares as you in your discretion determine appropriate. You represent
and warrant that all such materials comply with Applicable Law. You agree not to distribute sales and advertising materials relating to the Shares at Dealer unless and until they have been reviewed and approved by Dealer’s Marketing Advisory
Unit. Dealer shall have the right to prepare its own marketing memorandums, bulletins, and/or information or related materials (“Marketing Pieces”) relating to any of the Funds or Fund Shares represented by this Agreement; provided,
however, that any information or descriptions regarding the Funds complies with the Fund’s Prospectus and Dealer is responsible for complying with all applicable requirements of law and regulation including, without limitation, any requirements
of filing with the SEC, FINRA, or other entity. Dealer agrees to submit Marketing Pieces intended for public distribution to you prior to distribution or publication. Dealer agrees not to publish or distribute Marketing Pieces without first
receiving any regulatory approval that may be required. 

  

	23.	Records. Each party agrees to maintain all records required of such party by Applicable Law related to the offer and sale of Shares. Upon reasonable request by
one party, the other party will provide access to or make copies of such records the requesting party does not possess in order to: (a) comply with a request from a government body or self-regulatory organization; (b) verify compliance by
the other party of the terms of this Agreement; or (c) make required regulatory reports. 

  

			
	Sincerely,
	
	PFS INVESTMENTS INC
		
	By:	 	 /s/ William A. Kelly

		
	Name:	 	William A. Kelly
		
	Title:	 	President and CEO
		
	Dated:	 	  

	
	AGREED AND ACCEPTED
	
	LEGG MASON INVESTOR SERVICES, LLC
		
	By:	 	 /s/ Joel Sauber

		
	Name:	 	 Joel Sauber

		
	Title:	 	 Managing Director

		
	Dated:	 	 6/4/08

  

 10 

 Schedule A 
 LEGG MASON PARTNERS FUNDS 
  

								
	 Investment Category
	  	A Shares	  	 B Shares

	 	  	 Fund # / NASDAQ
	  	 Fund # / NASDAQ
	  	Max $
	 Money Market Funds
	  		  		  		
	 Western Asset Money Market Fund1
	  	 01740 / SBCXX
	  	 944/52470R870/SBOXX
	  	 	N/A
				
	Investment Category	  	A Shares	  	B Shares	  	 
	 Non-Money Market Funds2
	  	 Fund # / NASDAQ
	  	 Fund # / NASDAQ
	  	Max $
	 Taxable Bond / Income Funds
	  		  		  		
	 LMP Diversified Strategic Income Fund
	  	 01830 / SDSAX
	  	 01831 / SLDSX
	  	$	99,999
	 LMP Global High Yield Bond Fund
	  	 SAHYX
	  		  	$	99,999
	 LMP Government Securities Fund
	  	 01635 / SGVAX
	  	 01636 / HGVSX
	  	$	99,999
	 LMP High Income Fund
	  	 SHIAX
	  		  	$	99,999
	 LMP Inflation Management Fund
	  	 SBGLX
	  		  	$	99,999
	 LMP Investment Grade Bond Fund
	  	 01730 / SIGAX
	  	 01731 / HBDIX
	  	$	99,999
	 LMP Lifestyle Allocation 30%
	  	 01760 / SBCPX
	  	 01761 / SBCBX
	  	$	99,999
	 LMP Lifestyle Income Fund
	  	 01750 / SCAAX
	  	 01751 / SCIAX
	  	$	99,999
	 LMP Core Bond Fund
	  	 598 / TRBAX
	  	 599 / TRBBX
	  	$	99,999
	 LMP Core Plus Bond Fund
	  	 016 / SHMGX
	  	 184 / MGVBX
	  	$	99,999
	 Tax Exempt Bond Funds*
	  		  		  		
	 LMP California Municipals Fund
	  	 01840 / SHRCX
	  	 01841 / SCABX
	  	$	99,999
	 LMP Managed Municipals Fund
	  	 01655 / SHMMX
	  	 01656 / SMMBX
	  	$	99,999
	 LMP Massachusetts Municipals Fund
	  	 SLMMX
	  		  	$	99,999
	 LMP New Jersey Municipals Fund
	  	 SHNJX
	  		  	$	99,999
	 LMP New York Municipals Fund
	  	 01850 / SBNYX
	  	 01851 / SMNBX
	  	$	99,999
	 LMP Pennsylvania Municipals Fund
	  	 SBPAX
	  		  	$	99,999
	 Balanced Funds
	  		  		  		
	 LMP Lifestyle Allocation 50%
	  	 01720 / SBBAX
	  	 01721 / SCBBX
	  	$	99,999
	 LMP Lifestyle Allocation 70%
	  	 01790 / SCGRX
	  	 01791 / SGRBX
	  	$	99,999
	 Large Cap Equity / Fund of Funds
	  		  		  		
	 LMP Aggressive Growth Fund
	  	 01800 / SHRAX
	  	 01801 / SAGBX
	  	$	99,999
	 LMP Appreciation Fund
	  	 01710 / SHAPX
	  	 01711 / SAPBX
	  	$	99,999
	 LMP Capital Fund
	  	 SCCAX
	  		  	$	99,999
	 LMP Capital & Income Fund
	  	 01178 / SOPAX
	  	 01017 / SOPTX
	  	$	99,999
	 LMP Convertible Bond Fund
	  	 SCRAX
	  		  	$	99,999
	 LMP Dividend Strategy Fund
	  	 01610 / GROAX
	  	 01611 / GROBX
	  	$	99,999
	 LMP Fundamental Value Fund
	  	 01820 / SHFVX
	  	 01821 / SFVBX
	  	$	99,999
	 LMP Investors Value Fund
	  	 SINAX
	  		  	$	99,999
	 LMP Large Cap Growth Fund
	  	 01860 / SBLGX
	  	 01861 / SBLBX
	  	$	99,999
	 LMP Lifestyle Allocation 85%
	  	 01780 / SCHAX
	  	 01781 / SCHBX
	  	$	99,999
	 LMP Lifestyle Allocation 100%
	  	 01927 / LMLAX
	  	 01928 / LMLBX
	  	$	99,999

  

 11 

								
	 LMP All Cap Fund
	  	 01550 / SPAAX
	  	 01551 / SPBBX
	  	$	99,999
	 LMP Social Awareness Fund
	  	 01770 / SSIAX
	  	 01771 / SESIX
	  	$	99,999
	 Aggressive Bond Funds
	  		  		  		
	 None Approved / Offered
	  	 N/A
	  	 N/A
	  	 	N/A
	 Aggressive Equity Funds
	  		  		  		
	 LMP 130/30 US Large Cap Equity Fund
	  	 LMUAX
	  		  	$	99,999
	 LMP Global Equity Fund
	  	 01408 / CFIPX
	  	 01410 / SILCX
	  	$	99,999
	 LMP Mid Cap Core Fund
	  	 01675 / SBMAX
	  	 01676 / SBMDX
	  	$	99,999
	 LMP Small Cap Growth Fund
	  	 01117 / SASMX
	  	 01217 / SBSMX
	  	$	99,999
	 LMP Small Cap Value Fund
	  	 01647 / SBVAX
	  	 01648 / SBVBX
	  	$	99,999
	 Sector Funds
	  		  		  		
	 LMP Financial Services Fund
	  	 01520 / SBFAX
	  	 01521 / SBFBX
	  	$	99,999
	 International Equity Funds
	  		  		  		
	 LMP Emerging Markets Equity Fund
	  	 SMKAX
	  		  	$	99,999
	 LMP International All Cap Opportunity Fund
	  	 01320 / SBIEX
	  	 01321 / SBIBX
	  	$	99,999

  

	*	Municipal Bond Funds are not an allowable choice for Retirement Plan accounts. 

  

 12 

 Schedule B 
 MUTUAL FUND SUPPORT FEE SCHEDULE 
 The Fee shall be determined
based on purchases by PFSI customers of the Funds offered pursuant to the Agreement, and/or assets of such Funds held by PFSI customers, as more specifically described below. 
  

	A.	Non- Money Market Funds 

 The fee
shall be an annual amount equal to [**] basis points ([**]%) on sales and [**] basis points ([**]%) on the average daily assets held by PFSI customers in the Funds (excluding assets held in tuition savings programs qualifying under Section 529
of the I.R.C.) 
  

	B.	Money Market Funds 

 For the
Western Asset Money Market Fund the fee shall be an annual amount equal to a percentage of the average daily assets held by PFSI customers in the fund. The percentage shall be equal to [**]% of the following sum: (x) the fund’s current net
management fee, minus (y) [**] basis points. An example of the calculation is as follows: net management fee (currently 37 basis points) less [**] basis points, multiplied by [**]% equals a percentage of .135% or 13.5 basis points. 

 
  

	**	Confidential materials omitted and filed separately with the Securities and Exchange Commission. Asterisks denote omissions. 

  

 13 

 FIRST AMENDMENT TO 
 MUTUAL FUND DEALER AGREEMENT 
 This First
Amendment to Mutual Fund Dealer Agreement (“Amendment”) is entered into by and among Legg Mason Investor Services, LLC, (“LMIS”) and PFS Investments Inc., (“PFSI”). 
 WHEREAS, the parties entered into a Mutual Fund Dealer Agreement effective as of June 1, 2008, (the “Agreement”).

 WHEREAS, the parties desire to amend the Agreement; 
 NOW, THEREFORE, in consideration of these premises and the terms and conditions set forth herein, the parties agree as follows:

 1. New Schedules. Schedule A and Schedule B of this Amendment, attached hereto, supersede and replace in their
entirety the Schedule A and Schedule B of the Mutual Fund Dealer Agreement dated June 1, 2008. 
 2. Other
Terms. Other than the foregoing, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect and are ratified and confirmed in all respects by the parties to this Amendment. Capitalized terms used
herein and not otherwise defined herein shall have the meanings assigned to such terms in the Agreement. 
 IN WITNESS
WHEREOF, LMIS and PFSI have entered into this First Amendment to Mutual Fund Dealer Agreement on this 1st day of December, 2008. 
  

									
		 	Legg Mason Investor Services, LLC	 		 		 	PFS Investment Inc.
					
	By:	 	 /s/ Mark E. Freemyer
	 		 	By:	 	 /s/ William A. Kelly

	Name:	 	 Mark E. Freemyer
	 		 	Name:	 	William A. Kelly
	Title:	 	 Managing Director
	 		 	Title:	 	President and CEO
	Date:	 	 12/1/08
	 		 	Date:	 	 11/19/08

  

 Page 1 of 4 

 Schedule A 
 LEGG MASON PARTNERS FUNDS 
  

								
	 Investment Category
	  	A Shares	  	 B Shares

	 	  	 Fund # / NASDAQ
	  	 Fund # / NASDAQ
	  	Max $
	 Money Market Funds
	  		  		  		
	 Western Asset Money Market Fund ~
	  	 01740 / LMTXX
	  	 944/52470R870/SBOXX
	  	 	N/A
	 Western Asset Municipal Money Market Fund Exchange A*
	  	 LMUXX
	  		  		
				
	Investment Category	  	A Shares	  	B Shares	  	 
	 Non-Money Market Funds
	  	 Fund # / NASDAQ
	  	 Fund # / NASDAQ
	  	Max $
	 Taxable Bond / Income Funds
	  		  		  		
	 LMP Strategic Income Fund
	  	 01830 / SDSAX
	  	 01831 / SLDSX
	  	$	99,999
	 LMP Government Securities Fund
	  	 01635 / SGVAX
	  	 01636 / HGVSX
	  	$	99,999
	 LMP Corporate Bond Fund
	  	 01730 / SIGAX
	  	 01731 / HBDIX
	  	$	99,999
	 LMP Lifestyle Allocation 30%
	  	 01760 / SBCPX
	  	 01761 / SBCBX
	  	$	99,999
	 LMP Lifestyle Income Fund
	  	 01750 / SCAAX
	  	 01751 / SCIAX
	  	$	99,999
	 LMP Core Bond Fund
	  	 598 / TRBAX
	  	 599 / TRBBX
	  	$	99,999
	 LMP Core Plus Bond Fund
	  	 016 / SHMGX
	  	 184 / MGVBX
	  	$	99,999
	 Tax Exempt Bond Funds*
	  		  		  		
	 LMP California Municipals Fund
	  	 01840 / SHRCX
	  	 01841 / SCABX
	  	$	99,999
	 LMP Managed Municipals Fund
	  	 01655 / SHMMX
	  	 01656 / SMMBX
	  	$	99,999
	 LMP Massachusetts Municipals Fund
	  	 SLMMX
	  		  	$	99,999
	 LMP New Jersey Municipals Fund
	  	 SHNJX
	  		  	$	99,999
	 LMP New York Municipals Fund
	  	 01850 / SBNYX
	  	 01851 / SMNBX
	  	$	99,999
	 LMP Pennsylvania Municipals Fund
	  	 SBPAX
	  		  	$	99,999
	 LMP Intermediate Maturity California Municipals Fund
	  	 ITCAX
	  		  		
	 LMP Intermediate Maturity New York Municipals Fund
	  	 IMNYX
	  		  		
	 LMP Intermediate – Term Municipals
	  	 SBLTX
	  		  		
	 Balanced Funds
	  		  		  		
	 LMP Lifestyle Allocation 50%
	  	 01720 / SBBAX
	  	 01721 / SCBBX
	  	$	99,999
	 LMP Lifestyle Allocation 70%
	  	 01790 / SCGRX
	  	 01791 / SGRBX
	  	$	99,999
	 LMP Convertible Bond Fund
	  	 SCRAX
	  		  	$	99,999
	 Large Cap Equity / Fund of Funds
	  		  		  		
	 LMP Aggressive Growth Fund
	  	 01800 / SHRAX
	  	 01801 / SAGBX
	  	$	99,999
	 LMP Appreciation Fund
	  	 01710 / SHAPX
	  	 01711 / SAPBX
	  	$	99,999
	 LMP Capital Fund
	  	 SCCAX
	  		  	$	99,999
	 LMP Capital & Income Fund
	  	 01178 / SOPAX
	  	 01017 / SOPTX
	  	$	99,999
	 LMP Dividend Strategy Fund
	  	 01610 / GROAX
	  	 01611 / GROBX
	  	$	99,999
	 LMP Equity Income Builder Fund
	  	 LMOAX
	  		  		
	 LMP Fundamental Value Fund
	  	 01820 / SHFVX
	  	 01821 / SFVBX
	  	$	99,999
	 LMP Investors Value Fund
	  	 SINAX
	  		  	$	99,999
	 LMP Large Cap Growth Fund
	  	 01860 / SBLGX
	  	 01861 / SBLBX
	  	$	99,999
	 LMP Lifestyle Allocation 85%
	  	 01780 / SCHAX
	  	 01781 / SCHBX
	  	$	99,999
	 LMP Lifestyle Allocation 100%
	  	 01927 / LMLAX
	  	 01928 / LMLBX
	  	$	99,999
	 LMP All Cap Fund
	  	 01550 / SPAAX
	  	 01551 / SPBBX
	  	$	99,999

  

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	 LMP Social Awareness Fund
	  	 01770 / SSIAX
	  	 01771 / SESIX
	  	$	99,999
	 Aggressive Bond Funds
	  		  		  		
	 LMP Global High Yield Bond Fund
	  	 SAHYX
	  		  	$	99,999
	 LMP High Income Fund
	  	 SHIAX
	  		  	$	99,999
	 LMP Municipal High Income Fund*
	  	 01187 / STXAX
	  	 01287 / AXMTX
	  	$	99,999
	 Aggressive Equity Funds
	  		  		  		
	 LMP 130/30 US Large Cap Equity Fund
	  	 LMUAX
	  		  	$	99,999
	 LMP Global Equity Fund
	  	 01408 / CFIPX
	  	 01410 / SILCX
	  	$	99,999
	 LMP Mid Cap Core Fund
	  	 01675 / SBMAX
	  	 01676 / SBMDX
	  	$	99,999
	 LMP Small Cap Growth Fund
	  	 01117 / SASMX
	  	 01217 / SBSMX
	  	$	99,999
	 LMP Small Cap Value Fund
	  	 01647 / SBVAX
	  	 01648 / SBVBX
	  	$	99,999
	 Sector Funds
	  		  		  		
	 LMP Financial Services Fund
	  	 01520 / SBFAX
	  	 01521 / SBFBX
	  	$	99,999
	 International Equity Funds
	  		  		  		
	 LMP Emerging Markets Equity Fund
	  	 SMKAX
	  		  	$	99,999
	 LMP International All Cap Opportunity Fund
	  	 01320 / SBIEX
	  	 01321 / SBIBX
	  	$	99,999

  

	*	Municipal Bond Funds are not an allowable choice for Retirement Plan accounts 

	~	B Shares are available for exchanges only 

  

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 Schedule B 
 MUTUAL FUND SUPPORT FEE SCHEDULE 
 The Fee shall be determined
based on purchases by PFSI customers of the Funds offered pursuant to the Agreement, and/or assets of such Funds held by PFSI customers, as more specifically described below. 
  

	A.	Non- Money Market Funds 

 The fee
shall be an annual amount equal to [**] basis points ([**]%) on sales and [**] basis points ([**]%) on the average daily assets held by PFSI customers in the Funds (excluding assets held in tuition savings programs qualifying under Section 529
of the I.R.C.) 
  

	B.	Money Market Funds 

 The fee
shall be an annual amount equal to a percentage of the average daily assets held by PFSI customers in the Funds. The percentage shall be equal to [**]% of the following sum: (x) the Fund’s current net management fee, minus (y) [**]
basis points. An example of the calculation is as follows: net management fee (currently 37 basis points) less [**] basis points, multiplied by [**]% equals a percentage of .135% or 13.5 basis points. 
  
  

	**	Confidential materials omitted and filed separately with the Securities and Exchange Commission. Asterisks denote omissions. 

  

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