Document:

EX-4.3

 Exhibit 4.3 

EXECUTION VERSION 
 THIRD
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 
 GREAT BASIN SCIENTIFIC, INC. 

 TABLE OF CONTENTS 
  

					
	 	  	Page	 
	 1. Registration Rights
	  	 	1	  
	 1.1 Definitions
	  	 	1	  
	 1.2 Request for Registration
	  	 	2	  
	 1.3 Company Registration
	  	 	4	  
	 1.4 Form S-3 Registration
	  	 	5	  
	 1.5 Obligations of the Company
	  	 	6	  
	 1.6 Information from Holder
	  	 	7	  
	 1.7 Expenses of Registration
	  	 	7	  
	 1.8 Delay of Registration
	  	 	8	  
	 1.9 Indemnification
	  	 	8	  
	 1.10 Reports Under Securities Exchange Act of 1934
	  	 	10	  
	 1.11 Assignment of Registration Rights
	  	 	10	  
	 1.12 Limitations on Subsequent Registration Rights
	  	 	11	  
	 1.13 “Market Stand-Off’ Agreement
	  	 	11	  
	 1.14 Termination or Suspension of Registration Rights
	  	 	12	  
		
	 2. Covenants of the Company
	  	 	12	  
	 2.1 Delivery of Financial Statements
	  	 	12	  
	 2.2 Inspection
	  	 	12	  
	 2.3 Right of First Offer
	  	 	13	  
	 2.4 Directors and Officers Insurance
	  	 	14	  
	 2.5 Employee Stock
	  	 	14	  
	 2.6 Termination of Covenants
	  	 	14	  
		
	 3. Miscellaneous
	  	 	14	  
	 3.1 Successors and Assigns
	  	 	14	  
	 3.2 Governing Law
	  	 	15	  
	 3.3 Counterparts
	  	 	15	  
	 3.4 Titles and Subtitles
	  	 	15	  
	 3.5 Notices
	  	 	15	  
	 3.6 Attorney’s Fees
	  	 	15	  
	 3.7 Entire Agreement; Amendments and Waivers
	  	 	15	  
	 3.8 Severability
	  	 	16	  
	 3.9 Aggregation of Stock
	  	 	16	  

 EXECUTION VERSION 

THIRD AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 

THIS THIRD AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”) is made as of the 21st day of April, 2014 (the “Effective Date”), by and among Great Basin Scientific, Inc., a Delaware corporation (the “Company”), and the investors listed on
Exhibit A hereto, each of which is herein referred to as an “Investor” 
 RECITALS 

WHEREAS, certain of the Investors hold shares of the Company’s Series A Preferred Stock (“Series A Preferred Stock), the
Company’s Series B Preferred Stock (Series B Preferred Stock), the Company’s Series C Preferred Stock (“Series C Preferred Stock”), the Company’s Series C-1 Preferred Stock (“Series C-1 Preferred Stock) and/or shares of
the Company’s Common Stock (“Common Stock”) and possess registration rights, information rights, rights of first refusal and other rights pursuant to an Amended and Restated Investors’ Rights Agreement, dated as of
November 26, 2013 (the “2013 Agreement”), between the Company and such Investors; 
 WHEREAS, the undersigned
Investors who hold Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock and Series C-1 Preferred Stock desire to amend and restate the 2013 Agreement as set forth herein; 

WHEREAS, the undersigned Investors hold at least a majority of the Registrable Securities (as defined in the 2013 Agreement) and at least a
majority of the Registrable Securities held by the Major Investors (as defined in the 2013 Agreement); 
 WHEREAS, the Company and certain
of the Investors are parties to the Series D Preferred Stock Purchase Agreement of even date herewith (the “Series D Agreement”), pursuant to which the Company will sell and such Investors will purchase the Series D Preferred Stock
(“Series D Preferred Stock”); and 
 WHEREAS, in order to induce the Company to approve the issuance of the Series D
Preferred Stock and to induce the Investors party to the Series D Agreement to invest funds in the Company pursuant to the Series D Agreement, the Investors and the Company hereby agree that this Agreement shall govern the rights of the Investors to
cause the Company to register shares of Common Stock issued or issuable to them and certain other matters as set forth herein; 
 NOW,
THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS: 
 1. Registration Rights. The Company covenants and agrees as follows: 

1.1 Definitions. For purposes of this Agreement: 

(a) The term “Act” means the Securities Act of 1933, as amended. 

 (b) The term “Form S-3” means such form under the Act as in effect on the
Effective Date or any registration form under the Act subsequently adopted by the SEC that permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the SEC. 

(c) The term “Holder” means any person owning or having the right to acquire Registrable Securities or any assignee thereof
in accordance with Section 1.11; 
 (d) The term “Initial Offering” means the Company’s first firm commitment
underwritten public offering of its Common Stock under the Act. 
 (e) The term “1934 Act” means the Securities Exchange
Act of 1934, as amended. 
 (f) The terms “register,” “registered,” and “registration”
refer to a registration effected by preparing and filing a registration statement or similar document in compliance with the Act, and the declaration or ordering of effectiveness of such registration statement or document. 

(g) The term “Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of the Series A
Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series C-1 Preferred Stock or the Series D Preferred Stock and (ii) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right or other security
that is issued as) a dividend or other distribution with respect to, or in exchange for, or in replacement of, the shares referenced in subsection (i) above, excluding in all cases, however, any Registrable Securities sold by a person in a
transaction in which such person’s rights under this Section 1 are not assigned. The number of shares of Registrable Securities outstanding shall be determined by the number of shares of Common Stock outstanding that are, and the number of
shares of Common Stock issuable pursuant to then exercisable or convertible securities that are, Registrable Securities. 
 (h) The term
“SEC” shall mean the Securities and Exchange Commission. 
 1.2 Request for Registration. 

(a) Subject to the conditions of this Section 1.2, if the Company shall receive at any time after the earlier to occur of (i) the
Initial Offering and (ii) five years after the date hereof, a written request from the Holders of a majority of the Registrable Securities then outstanding (the “Initiating Holders”) that the Company file a registration
statement under the Act covering the registration of Registrable Securities with an anticipated aggregate offering price of at least $5,000,000, then the Company shall, within 20 days of the receipt thereof, give written notice of such request to
all Holders, and subject to the limitations of this Section 1.2, shall effect, as soon as practicable, the registration under the Act of all Registrable Securities that the Holders request to be registered in a written request received by the
Company within 20 days of the mailing of the Company’s notice pursuant to this Section 1.2(a). 

  
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 (b) If the Initiating Holders intend to distribute the Registrable Securities covered by their
request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to this Section 1.2 and the Company shall include such information in the written notice referred to in Section 1.2(a). In such
event the right of any Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the
underwriting (unless otherwise mutually agreed by a majority in interest of the Initiating Holders and such Holder) to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall enter into an
underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by a majority in interest of the Initiating Holders (which underwriter or underwriters shall be reasonably acceptable to the Company).
Notwithstanding any other provision of this Section 1.2, if the underwriter advises the Company that marketing factors require a limitation of the number of securities underwritten (including Registrable Securities), then the Company shall so
advise all Holders of Registrable Securities that would otherwise be underwritten pursuant hereto, and the number of shares that may be included in the underwriting shall be allocated to the Holders of such Registrable Securities on a pro rata basis
based on the number of Registrable Securities held by all such Holders (including the Initiating Holders); provided, however, that no Registrable Securities held by the Holders shall be excluded from such underwriting unless all other securities are
first entirely excluded from such underwriting. Any Registrable Securities excluded or withdrawn from such underwriting shall be withdrawn from the registration. 

(c) The Company shall not be required to effect a registration pursuant to this Section 1.2: 

(i) in any particular jurisdiction in which the Company would be required to execute a general consent to service of process in effecting such
registration, unless the Company is already subject to service in such jurisdiction and except as may be required under the Act; or 
 (ii)
after the Company has effected two registrations pursuant to this Section 1.2, and such registrations have been declared or ordered effective; or 

(iii) during the period starting with the date 90 days prior to the Company’s good faith estimate of the date of the filing of, and
ending on a date 180 days following the effective date of, a Company-initiated registration subject to Section 1.3, provided that the Company is actively employing good faith reasonable efforts to cause such registration statement to become
effective; or 
 (iv) if the Company has effected an Initial Offering within the preceding 365 days; or 

(v) if the Initiating Holders propose to dispose of Registrable Securities that may be registered on Form S-3 pursuant to Section 1.4; or

  
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 (vi) if the Company shall furnish to Holders requesting a registration statement pursuant to
this Section 1.2, a certificate signed by the Company’s Chief Executive Officer or Chairman of the Board stating that in the good faith judgment of the Board of Directors of the Company (the “Board”), it would be seriously
detrimental to the Company and its stockholders for such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than 90 days after receipt of the request of
the Initiating Holders, provided that such right to delay a request shall be exercised by the Company not more than twice in any 12 month period. 

(d) The following registrations shall not count as registrations pursuant to this Section 1.2 for the purposes of
Section 1.2(c)(ii): any registration initiated pursuant to this Section 1.2 in which the Company includes shares to be sold by it (such registration will be considered a registration pursuant to Section 1.3 and subject to the terms
thereof). 
 1.3 Company Registration. 

(a) If (but without any obligation to do so) the Company proposes to register (including for this purpose a registration effected by the
Company for stockholders other than the Holders) any of its stock or other securities under the Act in connection with the public offering of such securities (other than a registration relating solely to the sale of securities to participants in a
Company stock plan, a registration relating to a corporate reorganization or other transaction under Rule 145 of the Act, a registration on any form that does not include substantially the same information as would be required to be included in a
registration statement covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered), the Company shall,
at such time, promptly give each Holder written notice of such registration. Upon the written request of each Holder given within 20 days after mailing of such notice by the Company in accordance with Section 3.5, the Company shall, subject to
the provisions of Section 1.3(c), cause to be registered under the Act all of the Registrable Securities that each such Holder has requested to be registered. 

(b) Right to Terminate Registration. The Company shall have the right to terminate or withdraw any registration initiated by it under
this Section 1.3 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration. The expenses of such withdrawn registration shall be borne by the Company in accordance with
Section 1.7. 
 (c) Underwriting Requirements. In connection with any offering involving an underwriting of shares of the
Company’s capital stock, the Company shall not be required under this Section 1.3 to include any of the Holders’ securities in such underwriting unless they accept the terms of the underwriting as agreed upon between the Company and
the underwriters selected by it (or by other persons entitled to select the underwriters) and enter into an underwriting agreement in customary form with an underwriter or underwriters selected by the Company, and then only in such quantity as the
underwriters determine in their sole discretion will not jeopardize the success of the offering by the Company. If the total amount of securities, including Registrable Securities, requested by stockholders to be included in such offering exceeds
the amount of securities sold other than by the Company that 

  
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the underwriters determine in their sole discretion is compatible with the success of the offering, then the Company shall be required to include in the offering only that number of such
securities, including Registrable Securities, that the underwriters determine in their sole discretion will not jeopardize the success of the offering (the securities so included to be apportioned pro rata among the selling Holders according to the
total amount of securities entitled to be included therein owned by each selling Holder or in such other proportions as shall mutually be agreed to by such selling Holders), but in no event shall (i) the amount of securities of the selling
Holders included in the offering be reduced below 25% of the total amount of the Holder’s securities requested to be included in such offering, unless such offering is the Initial Offering of the Company’s securities, in which case the
selling Holders may be excluded completely if the underwriters make the determination described above and no other stockholder’s securities are included; and (ii) notwithstanding (i) above, any securities held by any Holder be
excluded until all securities held by any selling stockholder other than a Holder have first been entirely excluded. For purposes of the preceding parenthetical concerning apportionment, for any selling stockholder that is a Holder of Registrable
Securities and that is a venture capital fund, partnership or corporation, the affiliated funds, partners, retired partners and stockholders of such Holder, or the estates and family members of any such partners and retired partners and any trusts
for the benefit of any of the foregoing persons shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such selling Holder shall be based upon the aggregate amount of Registrable Securities owned by all
such related entities and individuals. 
 1.4 Form S-3 Registration. In case the Company shall receive from the Holders of at least
50% of the Registrable Securities a written request or requests that the Company effect a registration on Form S-3 and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or
Holders, the Company shall: 
 (a) promptly give written notice of the proposed registration, and any related qualification or compliance,
to all other Holders; and 
 (b) effect, as soon as practicable, such registration and all such qualifications and compliances as may be so
requested and as would permit or facilitate the sale and distribution of all or such portion of such Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other
Holders joining in such request as are specified in a written request given within 15 days after receipt of such written notice from the Company, provided, however, that the Company shall not be obligated to effect any such registration,
qualification or compliance, pursuant to this Section 1.4: 
 (i) if Form S-3 is not available for such offering by the Holders; 

(ii) if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to
sell Registrable Securities and such other securities (if any) at an aggregate price to the public (net of any underwriters’ discounts or commissions) of less than $1,000,000; 

  
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 (iii) if the Company has, within the 12 month period preceding the date of such request, already
effected one registration on Form S-3 for the Holders pursuant to this Section 1.4; 
 (iv) if the Company has already effected two
registrations on Form S-3 for the Holders pursuant to this Section 1.4; 
 (v) during the period starting with the date 90 days prior
to the Company’s good faith estimate of the date of the filing of, and ending on a date 180 days following the effective date of, a Company initiated registration subject to Section 1.3, provided that the Company is actively employing good
faith reasonable efforts to cause such registration statement to become effective; or 
 (vi) in any particular jurisdiction in which the
Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance. 

(c) Subject to the foregoing, the Company shall file a registration statement covering the Registrable Securities and other securities so
requested to be registered as soon as practicable after receipt of the request or requests of the Holders. Registrations effected pursuant to this Section 1.4 shall not be counted as requests for registration effected pursuant to Sections 1.2.

 1.5 Obligations of the Company. Whenever required under this Section 1 to effect the registration of any Registrable
Securities, the Company shall, as expeditiously as reasonably possible: 
 (a) prepare and file with the SEC a registration statement with
respect to such Registrable Securities and use commercially reasonable efforts to cause such registration statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep
such registration statement effective for a period of up to 180 days or, if earlier, until the distribution contemplated in the Registration Statement has been completed; 

(b) prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with
such registration statement as may be necessary to comply with the provisions of the Act with respect to the disposition of all securities covered by such registration statement; 

(c) furnish to the Holders such numbers of copies of a prospectus, including a preliminary prospectus and any and all amendments thereto, in
conformity with the requirements of the Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them; 

(d) use commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other
securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general
consent to service of process in any such states or jurisdictions; 

  
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 (e) in the event of any underwritten public offering, enter into and perform its obligations
under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering; 
 (f) notify each Holder of
Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the Act or the happening of any event as a result of which the prospectus included in such registration
statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing;

 (g) cause all such Registrable Securities registered pursuant hereunder to be listed on each securities exchange on which similar
securities issued by the Company are then listed; and 
 (h) provide a transfer agent and registrar for all Registrable Securities
registered pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration. 

1.6 Information from Holder. It shall be a condition precedent to the obligations of the Company to take any action pursuant to this
Section 1 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such
securities as shall be required to effect the registration of such Holder’s Registrable Securities. 
 1.7 Expenses of
Registration. All expenses other than underwriting discounts and commissions incurred in connection with registrations, filings or qualifications pursuant to Sections 1.2, 1.3 and 1.4, including (without limitation) all registration, filing and
qualification fees, printers’ and accounting fees, fees and disbursements of counsel for the Company and the reasonable fees and disbursements of one counsel for the selling Holders not to exceed $50,000 shall be borne by the Company.
Notwithstanding the foregoing, the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Section 1.2 or Section 1.4 if the registration request is subsequently withdrawn at the request of
the Holders of a majority of the Registrable Securities to be registered (in which case all participating Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be requested in the withdrawn
registration), unless, in the case of a registration requested under Section 1.2, the Holders of a majority of the Registrable Securities agree to forfeit their right to one demand registration pursuant to Section 1.2, provided, however,
that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business, or prospects of the Company from that known to the Holders at the time of their request and have withdrawn the request with
reasonable promptness following disclosure by the Company of such material adverse change, then the Holders shall not be required to pay any of such expenses and shall retain their rights pursuant to Section 1.2 or 1.4. 

  
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 1.8 Delay of Registration. No Holder shall have any right to obtain or seek an injunction
restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 1. 

1.9 Indemnification. In the event that any Registrable Securities are included in a registration statement under this Section 1:

 (a) To the extent permitted by law, the Company will indemnify and hold harmless each Holder, the partners, members, or officers,
directors and stockholders of each Holder, legal counsel and accountants for each Holder, any underwriter (as defined in the Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Act or the
1934 Act, against any losses, claims, damages or liabilities (joint or several) to which they may become subject under the Act, the 1934 Act or any state securities laws, insofar as such losses, claims, damages, or liabilities (or actions in respect
thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a “Violation”): (i) any untrue statement or alleged untrue statement of a material fact contained in such registration
statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary
to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Act, the 1934 Act, any other federal securities laws, any state securities laws or any rule or regulation promulgated under the
Act, the 1934 Act or any federal or state securities laws; and the Company will reimburse each such Holder, underwriter or controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending
any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section l.9(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement
is effected without the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any such case for any such loss, claim, damage, liability or action to the extent that it arises out of or is based
upon a Violation that occurs in reliance upon and in conformity with written information furnished in connection with such registration by any such Holder, underwriter or controlling person. 

(b) To the extent permitted by law, each selling Holder will indemnify and hold harmless the Company, each of its directors, each of its
officers who has signed the registration statement, each person, if any, who controls the Company within the meaning of the Act, legal counsel and accountants for the Company, any underwriter, any other Holder selling securities in such registration
statement and any controlling person of any such underwriter or other Holder, against any losses, claims, damages or liabilities (joint or several) to which any of the foregoing persons may become subject, under the Act, the 1934 Act or any state
securities laws, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that such Violation occurs in reliance upon and
in conformity with written information furnished by such Holder expressly for use in connection with such registration; and each such Holder will reimburse any person intended to be indemnified pursuant to this Section l.9(b), for any legal or other
expenses reasonably incurred by such person in connection with investigating 

  
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or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section l.9(b) shall not apply to amounts paid in settlement of
any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder (which consent shall not be unreasonably withheld), provided that in no event shall any indemnity under this Section l.9(b) exceed the
net proceeds from the offering received by such Holder. 
 (c) Promptly after receipt by an indemnified party under this Section 1.9 of
notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 1.9, deliver to the indemnifying party a
written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense
thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one separate
counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between
such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if prejudicial to its ability
to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 1.9, but the omission to deliver written notice to the indemnifying party will not relieve it of any liability that it may
have to any indemnified party otherwise than under this Section 1.9. 
 (d) If the indemnification provided for in this
Section 1.9 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage or expense referred to herein, then the indemnifying party, in lieu of indemnifying such
indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the
indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions that resulted in such loss, liability, claim, damage or expense, as well as any other relevant equitable considerations. The
relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to
information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission, provided, that in no event
shall any contribution by a Holder hereunder exceed the net proceeds from the offering received by such Holder. 
 (e) Notwithstanding the
foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions
in the underwriting agreement shall control. 

  
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 (f) The obligations of the Company and Holders under this Section 1.9 shall survive the
completion of any offering of Registrable Securities in a registration statement under this Section 1, and otherwise. 
 1.10 Reports
Under Securities Exchange Act of 1934. With a view to making available to the Holders the benefits of Rule 144 promulgated under the Act and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the
Company to the public without registration or pursuant to a registration on Form S-3, the Company agrees to: 
 (a) make and keep public
information available, as those terms are understood and defined in SEC Rule 144, at all times after 90 days after the effective date of the Initial Offering; 

(b) file with the SEC in a timely manner all reports and other documents required of the Company under the Act and the 1934 Act; and 

(c) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) a written statement by the
Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after 90 days after the effective date of the first registration statement filed by the Company), the Act and the 1934 Act (at any time after it has become
subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after it so qualifies), (ii) a copy of the most recent annual or quarterly report of the Company and such
other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such securities without
registration or pursuant to such form. 
 1.11 Assignment of Registration Rights. The rights to cause the Company to register
Registrable Securities pursuant to this Section 1 may be assigned (but only with all related obligations) by a Holder to a transferee or assignee of such securities that (i) is a subsidiary, parent, partner, limited partner, retired
partner, member, retired member, affiliate (including any fund or entity managed by the same manager, managing member, general partner or managing company as the Holder or under common control with such manager, managing member, general partner or
management company) or stockholder of a Holder, (ii) is a Holder’s family member or trust for the benefit of an individual Holder, or (iii) after such assignment or transfer, holds at least 10,000,000 shares of Registrable Securities
(or, if less, than 100% of such Holder’s Registrable Securities) (subject to appropriate adjustment for stock splits, stock dividends, combinations and other recapitalizations), provided: (a) the Company is, within a reasonable time after
such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned; (b) such transferee or assignee agrees in writing to be
bound by and subject to the terms and conditions of this Agreement, including without limitation the provisions of Section 1.13; and (c) such assignment shall be effective only if immediately following such transfer the further disposition
of such securities by the transferee or assignee is restricted under the Act. 

  
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 1.12 Limitations on Subsequent Registration Rights. From and after the date hereof, the
Company shall not, without the written consent of the Holders of a majority of the Registrable Securities, enter into any agreement with any holder or prospective holder of any securities of the Company that would allow such holder or prospective
holder (a) to include such securities in any registration filed under Section 1.3, unless under the terms of such agreement, such holder or prospective holder may include such securities in any such registration only to the extent that the
inclusion of such securities will not reduce the amount of the Registrable Securities of the Holders that are included or (b) to demand registration of their securities. 

1.13 “Market Stand-Off” Agreement. Each Holder hereby agrees that it will not, without the prior written consent of the
Company and the managing underwriter, during the period commencing on the date of the final prospectus relating to the Company’s Initial Offering and ending on the date specified by the Company and the managing underwriter (such period not to
exceed l80 days, except as provided below) (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer
or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock (whether such shares or any such securities are then owned by the Holder or are thereafter
acquired), or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (i) or
(ii) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise (each a “Market Stand-Off Agreement”); provided, however that, if during the last 17 days of the restricted period the
Company issues an earnings release or material news or a material event relating to the Company occurs, or prior to the expiration of the restricted period the Company announces that it will release earnings results during the 16-day period
beginning on the last day of the restricted period, then, upon the request of the managing underwriter, to the extent required by any FINRA rules, the restrictions imposed by this Section 1.13 shall continue to apply until the end of the third
trading day following the expiration of the 15-day period beginning on the issuance of the earnings release or the occurrence of the material news or material event. In no event will the restricted period extend beyond 216 days after the effective
date of the registration statement. The foregoing provisions of this Section 1.13 shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, and shall only be applicable to the Holders if all officers and
directors and holders of more than one percent of the Company’s outstanding securities enter into similar agreements and in the event that any such person, or any Holder, is released from such obligations, all Holders shall be released from
their respective obligations on a pro-rata basis (and any underwriting agreement that the Company enters into shall provide for such release). The underwriters in connection with the Initial Offering are intended third party beneficiaries of this
Section 1.13 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in
connection with such registration that are consistent with this Section 1.13 or that are necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or
the underwriters shall apply pro rata to all Holders subject to such agreements, based on the number of shares subject to such agreements. 

  
 11 

 If the Company or the underwriter of any public offering of the Company’s securities waives
or terminates any standoff or lockup restrictions imposed on any holder of securities of the Company by a Market Stand-Off Agreement, then such waiver or termination shall be granted to all Holders subject to standoff or lockup restrictions pro rata
based on the number of shares of Registrable Securities held by such holder and the Holders. 
 In order to enforce the foregoing covenant,
the Company may impose stop-transfer instructions with respect to the Registrable Securities of each Holder (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 

1.14 Termination or Suspension of Registration Rights. No Holder shall be entitled to exercise any right provided for in this
Section 1 after five years following the consummation of the Initial Offering. In addition, a Holder’s rights under this Section 1 shall be suspended (but not terminated) during such times at which all the Registrable Securities held
by such Holder (and any affiliate of the Holder with whom such Holder must aggregate its sales under Rule 144) can be sold, during any three month period, without registration pursuant to Rule 144 of the Act. 

2. Covenants of the Company. As used in this Agreement, a “Major Investor” means a Holder that (together with its affiliates)
holds at least 10,000,000 shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series C-1 Preferred Stock or Series D Preferred Stock (as appropriately adjusted for any stock split, dividend, combination,
recapitalization and the like). 
 2.1 Delivery of Financial Statements. The Company shall deliver to each Major Investor: 

(a) as soon as practicable after the end of each fiscal year of the Company, but in any event within 90 days, an income statement for such
fiscal year, a balance sheet of the Company and statement of stockholder’s equity as of the end of such year, and a statement of cash flows for such year, such year-end financial reports to be in reasonable detail, which shall be prepared in
accordance with generally accepted accounting principles (“GAAP”), and, when determined by the Board as appropriate, audited and certified by independent public accountants selected by the Board; and 

(b) as soon as practicable after the end of each of the first three quarters of each fiscal year of the Company, but in any event within 45
days, an unaudited income statement, statement of cash flows for such fiscal quarter and an unaudited balance sheet as of the end of such fiscal quarter and for the fiscal year to date. 

2.2 Inspection. The Company shall permit each Major Investor, at such Investor’s expense, to visit and inspect the Company’s
properties, to examine its books of account and records and to discuss the Company’s affairs, finances and accounts with its officers, all at such reasonable times as may be requested by the Investor; provided, that the Investors receiving
information under this Section 2.2 that is deemed in good faith by the Company to be a trade secret or similar proprietary information will treat as confidential and not 

  
 12 

 
disclose such information, except (a) as necessary to their accountants, advisors and attorneys; (b) as otherwise compelled by law or legal process; (c) to any partner, member,
subsidiary or parent of such Investor; (d) at such time as it enters the public domain through no fault of such Investor; (e) information that is communicated to an Investor free of any obligation of confidentiality; or (f) that is
developed by Investor or its agents independently of and without reference to any confidential information communicated by the Company. 

2.3 Right of First Offer. Subject to the terms and conditions specified in this Section 2.3, the Company hereby grants to each
Major Investor a right of first offer with respect to future sales by the Company of any shares of, or securities convertible into or exchangeable or exercisable for any shares of, any class of its capital stock (“Shares”). 

(a) The Company shall deliver a notice in accordance with Section 3.5 (“Notice”) to the Major Investors stating
(i) its bona fide intention to offer such Shares, (ii) the number of such Shares to be offered, and (iii) the price and terms upon which it proposes to offer such Shares. 

(b) By written notification received by the Company, within 20 calendar days after receipt of the Notice, each Major Investor may elect to
purchase or obtain, at the price and on the terms specified in the Notice up to that portion of such Shares that would allow such Major Investor to maintain such Major Investor’s percentage ownership of the Company as of the date of the Notice
(assuming full conversion or exercise of all convertible or exercisable securities) on an as-converted to common stock basis. 
 (c) If all
Shares that Investors are entitled to obtain pursuant to Section 2.3(b) are not elected to be obtained as provided in subsection 2.3(b), the Company may, during the 180 day period following the expiration of the period provided in
Section 2.3(b) hereof, offer the remaining unsubscribed portion of such Shares to any person or persons at a price not less than, and upon terms no more favorable to the offeree than those specified in the Notice. If the Company does not enter
into an agreement for the sale of the Shares within such period, or if such agreement is not consummated within 180 days of the execution thereof, the right provided hereunder shall be deemed to be revived and such Shares shall not be offered unless
first reoffered to the Investors in accordance herewith. 
 (d) The right of first offer in this Section 2.3 shall not be applicable to
(i) the issuance of Shares pursuant to stock splits, subdivisions, dividends and the like, (ii) Common Stock or options to purchase Common Stock issuable or issued to employees, officers, directors or consultants of the Corporation or its
subsidiaries directly or pursuant to any stock option plan, stock purchase plan, stock bonus plan or similar plan or agreement approved by the Board, (iii) the issuance of Common Stock upon conversion of the Series A Preferred Stock, Series B
Preferred Stock, Series C Preferred Stock, Series C-1 Preferred Stock or Series D Preferred Stock, (iv) the issuance of Shares (A) pursuant to a bona fide, firmly underwritten public offering of shares of Common Stock, registered under the
Act or (B) upon exercise of warrants or rights granted to underwriters in connection with such public offering, (v) the issuance of securities (A) to persons or entities pursuant to corporate or strategic partnerships or transactions,
(B) in connection with a business acquisition by the Company (whether by merger consolidation, sale of assets, sale or exchange of stock or otherwise), (C) to landlords in 

  
 13 

 
connection with real estate lease transactions; or (D) to lenders or lessors in connection with a bona fide loan or lease financing, that in each such case are approved by the Board, and
primarily for purposes other than equity financing, (vi) the issuance of Shares pursuant to the conversion or exercise of convertible or exercisable securities the original issuance of which was prior to the date hereof or the original issuance
of which was excluded from the right of first offer under this Section 2.3(d), or (vii) any issuance in which the provisions of this Section 2.3 are waived by the holders of at least a majority of the Registrable Securities held by
the Major Investors. 
 2.4 Directors and Officers Insurance. Unless the Board determines otherwise, the Company shall obtain, within
90 days of the date hereof, from financially sound and reputable insurers directors’ and officers’ insurance, in an amount and on terms and conditions satisfactory to the Board, and will use commercially reasonable efforts to cause such
insurance policy to be maintained until such time as the Board determines that such insurance should be discontinued. 
 2.5 Employee
Stock. Unless otherwise approved by the Board, all future employees and consultants of the Company who purchase, receive options to purchase or receive awards of shares of the Company’s capital stock after the date hereof shall be required
to execute restricted stock or option agreements, as applicable, providing for (a) vesting of shares over a four year period, with the first 25% of such shares vesting after 12 months of continued employment or service, and the remaining shares
vesting in equal monthly installments over the following 36 months, and (b) a market stand-off provision substantially similar to that in Section 1.13. 

2.6 Termination of Covenants. The covenants set forth in this Section 2 shall terminate and be of no further force or effect
(a) upon the consummation of the Company’s sale of its Common Stock or other securities pursuant to a registration statement under the Act (other than a registration statement relating either to sale of securities to employees of the
Company pursuant to its stock option, stock purchase or similar plan or a SEC Rule 145 transaction), (b) when the Company first becomes subject to the periodic reporting requirements of Sections 12 or 15(d) of the 1934 Act, (c) upon the
consummation of a Liquidity Event (as such term is defined in the Company’s Certificate of Incorporation), or (d) with respect to any Major Investor, when such Major Investor ceases to hold at least 10,000,000 shares of the Series A
Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series C-1 Preferred Stock or Series D Preferred Stock (as appropriately adjusted for any stock split, dividend, combination, recapitalization and the like), whichever event shall
first occur. 
 3. Miscellaneous. 

3.1 Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit
of and be binding upon the respective successors and assigns of the parties (including transferees of any shares of Registrable Securities). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties
hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

  
 14 

 3.2 Governing Law. This Agreement shall be governed by and construed under the laws of the
State of Delaware as applied to agreements entered into and to be performed entirely within Delaware. 
 3.3 Counterparts. This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may be executed by facsimile or PDF signatures. 

3.4 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience of response only and are not to be
considered in construing or interpreting this Agreement. 
 3.5 Notices. All notices required or permitted hereunder shall be in
writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail, telex or facsimile if sent during normal business hours of the recipient, if not, then on
the next business day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one day after deposit with a nationally recognized overnight courier, specifying next day
delivery, with written verification of receipt. All communications shall be sent to the Company at the address as set forth on the signature page hereof and to the Investors at the address set forth on Exhibit A attached hereto or at
such other address as the Company or the Investors may designate by 10 days advance written notice to the other parties hereto. 
 3.6
Attorney’s Fees. In the event that any dispute among the parties to this Agreement should result in litigation, the prevailing party in such dispute shall be entitled to recover at the discretion of the tribunal hearing this dispute from
the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include,
without limitation, all fees, costs and expenses of appeals providing such award is included in the written decision issued at the final conclusion of such dispute. 

3.7 Entire Agreement; Amendments and Waivers. This Agreement (including the Exhibits hereto, if any) constitutes the full and entire
understanding and agreement among the parties with regard to the subjects hereof and thereof. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and
either retroactively or prospectively), only with the written consent of the Company and the holders of at least a majority of the Registrable Securities; provided that any right of the Major Investors may be amended or waived (either generally or
in a particular instance and either retroactively or prospectively) only with the written consent of the Company and the holders of at least a majority of the Registrable Securities held by the Major Investors. Any amendment or waiver effected in
accordance with this paragraph shall be binding upon each holder of any Registrable Securities, each future holder of all such Registrable Securities, and the Company. Notwithstanding the foregoing, if the Company shall issue additional shares of
its Series D Preferred Stock pursuant to the Purchase Agreement, any purchaser of such shares of Series D Preferred Stock shall become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement
and shall be deemed an “Investor” and a party hereunder. 

  
 15 

 3.8 Severability. If one or more provisions of this Agreement are held to be unenforceable
under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms. 

3.9 Aggregation of Stock. All shares of Registrable Securities held or acquired by affiliated entities or persons shall be aggregated
together for the purpose of determining the availability of any rights under this Agreement and the qualification as a Major Investor. 

[Signature Pages Follow] 

  
 16 

 IN WITNESS WHEREOF, the parties have executed this Third Amended and Restated Investors’
Rights Agreement as of the Effective Date. 
  

			
	 COMPANY:
  

GREAT BASIN SCIENTIFIC, INC.

		
	By:	 	/s/ Ryan Ashton
	Name:	 	Ryan Ashton
	Title:	 	President and Chief Executive Officer
		
	Address	 	 2441 S. 3850 W.
 Salt Lake City, UT
84120

 THIRD AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENTEX-10.1

 Exhibit 10.1 

ONSET FINANCIAL, INC. 
 10813 River
Front Parkway, Suite 450 
 South Jordan, Utah 84095 

MASTER LEASE AGREEMENT NO. OFI0545174 

 

 THIS MASTER LEASE AGREEMENT is made on October 16, 2013 between ONSET FINANCIAL, INC., with its principal
office located at 10813 S. River Front Parkway, Suite 450, South Jordan, UT 84095 (the “Lessor”) and GREAT BASIN SCIENTIFIC, INC., a corporation organized in the state of Delaware with its principal office located at 2441 S. 3850 W., Salt
Lake City, UT 84120 (the “Lessee”). 
 SECTION 1. LEASE: 

Lessor agrees to lease to Lessee, and Lessee agrees to lease from Lessor the Property described in any Schedule executed and delivered by Lessor and Lessee in
connection with this Master Lease Agreement. Each Schedule shall incorporate by reference the terms and conditions of this Master Lease Agreement, and together with the Acceptance and Delivery Certificate and Master Progress Payment Agreement, if
applicable, shall constitute a separate Lease. 
 SECTION 2. TERM OF LEASE: 

The term of any Lease, as to all Property designated on the applicable Schedule, shall commence on the Date of Acceptance for such Property, and shall continue
for a Base Period ending that number of months from the Lease Commencement Date as specified in the Schedule. Thereafter, Lessee shall have those options as provided in Section 20n of this Master Lease Agreement. 

SECTION 3. RENT AND PAYMENT: 
 Lessee shall pay as rent
for use of the Property, aggregate rentals equal to the sum of all the Monthly Rentals and other payments due under the Lease for the entire Base Period. The Monthly Rental shall begin on the Date of Acceptance and shall be due and payable by Lessee
in advance on the first day of each month throughout the Base Period. If the Date of Acceptance does not fall on the first day of a month, then the first rental payment shall be calculated by multiplying the number of days from and including the
Date of Acceptance to the Lease Commencement Date by a daily rental equal to one-thirtieth (1/30) of the Monthly Rental, and shall be due and payable on the Date of Acceptance. Lessee shall pay to Lessor, or its assigns, all rentals as due when
due, without notice or demand, to Lessor’s address set forth above, or as otherwise directed in writing by Lessor, or its assigns. LESSEE SHALL NOT ABATE, SET OFF OR DEDUCT ANY AMOUNT OR DAMAGES FROM OR REDUCE ANY MONTHLY RENTAL OR OTHER
PAYMENT DUE FOR ANY REASON. THIS LEASE IS NON-CANCELABLE FOR THE ENTIRE TERM OF THE BASE PERIOD AND ANY RENEWAL PERIODS. 
 If any rental or other payment
due under any Lease shall be unpaid ten (10) days after its due date, Lessee will pay on demand, as a late charge, but not as interest, the greater of twenty-five dollars ($25.00) or ten percent (10%) per month on any such unpaid amount
but in no event to exceed maximum lawful charges. 
 SECTION 4. TAXES AND FEES: 

Lessee shall promptly pay to Lessor, and agrees to indemnify and hold Lessor harmless from all taxes, fees, assessments and charges paid, payable or required
to be collected by Lessor (together with any penalties, fines or interest thereon), which are levied or based on the Monthly Rental or other payment due under the Lease, or on the delivery, acquisition, possession, use, operation, lease, rental,
sale, purchase, control or value of the Property, including without limitation, registration and license fees and assessments, recycling fees, state and local privilege or excise taxes, documentary stamp taxes or assessments, sales and use taxes,
personal and other property taxes, and taxes or charges based on gross revenue, but excluding taxes based on Lessor’s net income, (collectively “taxes”), whether the same be assessed to Lessor or Lessee. Lessee also agrees to pay to
Lessor all servicing and administrative costs associated with processing and paying various fees and taxes. Lessor shall file all required reports and returns with all

 
applicable governmental agencies relating to the taxes concerning the Property. 
 SECTION 5. NET
LEASE: 
 This is a fully net, non-cancelable lease contract which may not be terminated for any reason except as otherwise specifically provided herein.
Lessee has no right of prepayment unless agreed to in writing by Lessor. Lessor and Lessee agree that any Lease is a “Finance Lease” as defined by the Uniform Commercial Code Article 2A. Lessee shall be responsible for and shall indemnify
Lessor against, all costs, expenses and claims of every nature whatsoever arising out of or in connection with or related to the Lease or the Property. 

Lessee acknowledges and agrees that its obligations to pay all Monthly Rentals and other amounts due and owing and perform its obligations hereunder shall be
primary, absolute, unconditional, independent and irrevocable and shall not be subject to or affected by (i) any circumstance whatsoever, including, without limitation, any setoff, counterclaim, recoupment, abatement, suspension, reduction,
rescission, defense or other right otherwise available to Lessee; (ii) any defect in the title, merchantability, condition, design, operation or fitness for use of, or any damage to, removal, abandonment, requisition, taking condemnation or
loss or theft or destruction of, the Property, or any interference, interruption, restriction, curtailment or cessation in or prohibition of the use or possession thereof by the Lessee or any other person for any reason whatsoever; or
(iii) failure on the part of the manufacturer or the shipper of the Property to deliver the Property or any part thereof to Lessee. Lessor is not responsible to install, test, repair, service, or maintain any Property. 

SECTION 6. CONDITIONS PRECEDENT: 
 Lessor’s
obligations under each Schedule, including its obligation to purchase and lease any Property to be leased thereunder, are conditioned upon Lessor’s receipt of, in form or substance satisfactory to Lessor, and Lessor’s determination that
all of the following are satisfactory: (i) evidence as to due compliance with the insurance provisions hereof; (ii) Uniform Commercial Code financing statements and all other filings and recordings as required by Lessor; (iii) lien
searches in the jurisdiction of Lessee’s organization and in each jurisdiction in which the Property and/or Lessee’s chief executive office are located; (iv) incumbency and signature of the officers of Lessee authorized to execute
such documents; (v) resolutions of Lessee’s Board of Directors and/or Members duly authorizing the leasing, or sale and leaseback, as the case may be, of the Property hereunder and the execution, delivery and performance of the Lease;
(vi) if requested by Lessor, certificates of good standing from the jurisdiction of Lessee’s organization, and (vii) if requested by Lessor, a copy of Lessee’s organizational documents and evidence of Lessee’s organizational
number. 
 SECTION 7. MAINTENANCE AND REPAIRS; RETURN OF PROPERTY: 
  

	a.	During the continuance of each Lease, Lessee shall, at its own expense, either (i) enter into and maintain in force a contract with the manufacturer or other qualified maintenance organization reasonably
satisfactory to Lessor for maintenance of each item of Property that requires such a contract or (ii) self-maintain each item of Property in accordance with the manufacturer’s standard maintenance agreement. Such contract or
self-maintenance as to each item shall commence upon the earlier of the Certificate date, if applicable, or the Date of Acceptance. Upon request Lessee shall furnish Lessor with a copy of such contract or provide to Lessor satisfactory evidence of
self-maintenance. 

  

	b.	 During the continuance of each Lease, Lessee shall, at its own cost and expense, and in accordance with all manufacturer maintenance specifications,
(i) keep the Property in good repair, condition, operating order and appearance, (ii) make all necessary

 

  
 Page 1 of 9 

	 	
adjustments repairs and replacements, (iii) not use or permit the Property to be used for any purpose for which, in the opinion of the manufacturer, the Property is not designed or
reasonably suitable, and (iv) furnish all required parts, mechanisms, devices, maintenance and servicing, so as to keep each item of Property and any part in good repair and operating order (ordinary wear and tear excepted) in the same
condition and appearance as when delivered to the Lessee. Such parts, mechanisms and devices shall immediately become a part of the Property for all purposes hereunder and title thereto shall vest in Lessor. If the manufacturer does not provide
maintenance specifications, Lessee shall perform all maintenance in accordance with industry standards for like property. 

  

	c.	Lessee shall immediately notify Lessor in writing of all details concerning any damage or loss to the Property, including without limitation, any damage or loss arising from the alleged or apparent improper manufacture,
functioning or operation of the Property. 

  

	d.	Lessee shall pay all shipping and delivery charges and other expenses incurred in connection with the Property. Upon default, or at the expiration or earlier termination of any Lease, Lessee shall, at its own expense,
assemble, prepare for shipment and promptly return the Property to Lessor at the location within the continental United States designated by Lessor. Upon such return, the Property shall be in the same operating order, repair, condition and
appearance as on the Date of Acceptance, except for reasonable wear and tear from proper use thereof, and shall include all engineering changes theretofore prescribed by the manufacturer. 

 

	e.	With regard to Software, at the expiration or earlier termination of any Lease, or upon demand by Lessor upon the occurrence of an Event of Default (hereinafter defined) under the Lease, Lessee shall (i) destroy
all copies or duplicates of the Software which were not returned to Lessor (ii); delete from its systems all Software then installed; (iii) cease using the Software altogether or; iv) disable the computers, computer systems or other equipment
which run and/or operate and or are controlled by the Software. Upon its receipt from Lessee, Lessor shall be responsible to return the Software to the owner/vendor/licensor so that Lessee shall not be in breach of any software license.

 SECTION 8. USE: ALTERATIONS AND ATTACHMENTS: 
  

	a.	Lessee shall at all times keep the Property in its sole possession and control. The Property shall not be moved from the location stated in the Schedule without the prior written consent of Lessor, which consent shall
not be unreasonably withheld. 

  

	b.	The Property is leased solely for commercial or business purposes. 

  

	c.	After Lessee receives and inspects any Property and is satisfied that the Property is acceptable, Lessee shall execute and deliver to Lessor an Acceptance and Delivery Certificate in form provided by Lessor; provided,
however, that Lessee’s failure to execute and deliver an Acceptance and Delivery Certificate for any Property shall not affect the validity and enforceability of the Lease with respect to the Property. If Lessee has executed and delivered a
Master Progress Payment Agreement, Lessor may, in its sole discretion, at any time by written notice to Lessee, declare all prior Certificates executed in connection with the Master Progress Payment Agreement to be and constitute the Acceptance and
Delivery Certificate for all purposes under the Lease, and the Date of Acceptance of the Lease shall be the date determined by Lessor in its sole discretion which shall not be earlier than the date of the last Certificate. In addition to the
inspection rights of Lessor and its assigns under Section 9(b), if required by Lessor and/or its assigns, Lessee shall permit Lessor or Lessor’s agent (or Lessor’s assigns or an agent of Lessor’s assigns), at any reasonable time
during normal business hours, (i) to inspect the Property, and (ii) to inspect the premises where the property is or will be located, and (iii) to visit Lessee’s management at Lessee’s headquarters or elsewhere. In addition,
Lessee shall, if required by Lessor and/or its assigns, provide Lessor and/or its assigns with an inspection report satisfactory to Lessor and/or its assigns, in its or their sole discretion. Notwithstanding any other provision herein, any of the
foregoing inspections shall be performed, and any such report shall be provided, prior to the execution and delivery by Lessee of an Acceptance and Delivery Certificate. Lessee shall pay any and all

	 	
costs, including travel expenses, incurred by Lessor and/or its assigns in connection with any such inspections, reports and visits. 

 

	d.	The Property is and shall remain personal property during the term of the Lease notwithstanding that any portion thereof may in any manner become affixed, attached to or located on real property or any building or
improvement thereon. Lessee shall not affix or attach, or permit any of the Property to become affixed or attached to any real property in any manner which would change its nature from that of personal property to real property. Lessee shall not
permit the Property to become an accession to other goods or a fixture to or part of any real property. Lessee will obtain and deliver to Lessor a lien waiver in a form satisfactory to Lessor, from all persons not a party hereto who might claim an
interest, lien or other claim in the Property. 

  

	e.	Lessee shall comply with all applicable laws, regulations, requirements, rules and orders, all manufacturer’s instructions and warranty requirements, and with the conditions and requirements of all policies of
insurance with respect to the Property and the Lease. 

  

	f.	Lessee may not make alterations or attachments to the Property without first obtaining the written consent of Lessor. Any such alterations or attachments shall be made at Lessee’s expense and shall not interfere
with the normal and satisfactory operation or maintenance of the Property. The manufacturer may incorporate engineering changes or make temporary alterations to the Property upon request of Lessee. Unless Lessor shall otherwise agree in writing, all
such alterations and attachments shall be and become the property of Lessor upon their attachment to the Property or, at the option of Lessor, shall be removed by Lessee at the termination of the Lease and the Property restored at Lessee’s
expense to its original condition, reasonable wear and tear only excepted. 

  

	g.	Lessee shall ensure that the Property be installed, used, operated and, at the termination of the Lease, if applicable, removed at Lessee’s expense (i) in accordance with any applicable manufacturer’s
manuals or instructions; (ii) by competent and duly qualified personnel only; and (iii) in accordance with applicable governmental regulations. 

  

	h.	In the event the Property includes Software, the following shall apply: (i) Lessee shall possess and use the Software in accordance with the terms and conditions of any license agreement entered into with the
owner/vendor/licensor of such Software (“License”) (at Lessor’s request, Lessee shall provide a complete copy of the License to Lessor) and shall not breach the License; (ii) Lessee agrees that Lessor has an interest in the
License and Software due to its payment of the price thereof and is, subject to any limitations set forth in such License, an assignee or third-party beneficiary of the License; (iii) as due consideration for Lessor’s payment of the price
of the License and Software and for providing the Software to Lessee at a lease rate (as opposed to a debt rate), Lessee agrees that Lessor is leasing (and not financing) the Software to Lessee; (iv) except for the original price paid by
Lessor, Lessee shall, at its own expense, pay promptly when due all servicing fees, maintenance fees, update and upgrade costs, modification costs, and all other costs and expenses relating to the License and Software and maintain the License in
effect during the term of the Lease; and (v) the Software shall be deemed Property for all purposes under the Lease. 

  

	i.	Unless otherwise agreed to in writing by Lessor, the Property shall at all times be used in Lessee’s business and shall not at any time be held for sale or lease or otherwise constitute “inventory”, as
such term is defined in Utah Uniform Commercial Code (as may be amended from time to time). 

  

	j.	With respect to Lessee’s use of the property, Lessee shall comply with all present and future federal, state, regional and municipal laws, statutes, ordinances, regulations, rules, judicial and similar requirements
of all federal, state, regional and municipal governmental agencies, bodies or officials or other governmental entities with legal authority pertaining to the protection of human or wildlife health and safety or the environment, including, without
limitation, any such laws, statutes, ordinances, regulations, rules, judicial and administrative orders and decrees, permits, licenses, approvals, authorizations and similar requirements regulating or relating to Hazardous Materials (defined below)
or to the generation, 

 

 use, storage, release, presence, disposal, transport, or handling of any other substance, oil,
oil byproducts, gas element, or material which has the potential to pollute, contaminate or harm any land, subsurface area, water source or watercourse, air or other natural resource, hereinafter referred to as “Environmental Laws”. 

“Hazardous Materials” is defined as any hazardous or toxic substance, material or waste that are or become regulated under any
applicable local, state or federal law, including, but not limited to, those substances, materials, and wastes listed in the United States Department of Transportation Hazardous Materials Table (49 CFR 172.101) or defined by the Environmental
Protection Agency (“EPA”) as “any material that poses a threat to human health and/or the environment. Typical hazardous substances are toxic, corrosive, ignitable, explosive, or chemically reactive”. 

SECTION 9. OWNERSHIP AND INSPECTION: 
  

	a.	The Property shall at all times be the property of Lessor or its assigns, and Lessee shall have no right, title or interest therein except as to the quiet enjoyment and use thereof subject to the terms and conditions of
the Lease. For purposes of the foregoing, Lessee transfers to Lessor all of Lessee’s right, title and interest (including all ownership interest) in and to the Property free and clear of all liens, security interests and encumbrances. Lessor
may affix (or require Lessee to affix) tags, decals or plates to the Property indicating Lessor’s ownership, and Lessee shall not permit their removal or concealment. Lessee shall not permit the name of any person or entity other than Lessor or
its assigns to be placed on the Property as a designation that might be interpreted as a claim of ownership or security interest. 

  

	b.	Lessor, its assigns and their agents shall have free access to the Property at all reasonable times during normal business hours for the purpose of inspecting the Property and for any other purpose contemplated in the
Lease. Lessee shall pay any and all costs incurred by Lessor in connection with any inspection performed by Lessor and/or its assigns. 

  

	c.	LESSEE SHALL KEEP THE PROPERTY AND LESSEE’S INTEREST UNDER ANY LEASE FREE AND CLEAR OF ALL LIENS AND ENCUMBRANCES, EXCEPT THOSE PERMITTED IN WRITING BY LESSOR OR ITS ASSIGNS. 

SECTION 10. DISCLAIMER OF WARRANTIES: 
  

	a.	WITHOUT WAIVING ANY CLAIM THE LESSEE MAY HAVE AGAINST ANY MANUFACTURER, LESSEE ACKNOWLEDGES AND AGREES THAT i) LESSOR IS NOT A SELLER, SUPPLIER OR THE MANUFACTURER OF THE PROPERTY (AS SUCH TERMS ARE DEFINED OR USED, AS
THE CASE MAY BE, IN THE UNIFORM COMMERCIAL CODE) OR DEALER, NOR A SELLER’S OR A DEALER’S AGENT, ii) THE PROPERTY IS OF A SIZE, DESIGN, CAPACITY AND MANUFACTURE SELECTED BY AND ACCEPTABLE TO THE LESSEE, iii) THE LESSEE HAS EXAMINED AND IS
SATISFIED THAT EVERY ITEM OF PROPERTY IS SUITABLE FOR ITS PURPOSE, iv) THE LESSEE ACCEPTS THE PROPERTY AND EACH PART THEREOF “AS IS” AND “WHERE IS”, V) THE LESSOR HAS NOT MADE AND DOES NOT MAKE, AND HEREBY DISCLAIMS LIABILITY
FOR, AND LESSEE HEREBY WAIVES ALL RIGHTS AGAINST LESSOR RELATING TO, ANY AND ALL WARRANTIES, REPRESENTATIONS OR OBLIGATIONS WHATSOEVER, EXPRESS OR IMPLIED, ARISING BY APPLICABLE LAW OR OTHERWISE, RELATING TO THE PROPERTY, OR ANY PART THEREOF,
INCLUDING, WITHOUT LIMITATION, ANY AND ALL WARRANTIES, REPRESENTATIONS OR OBLIGATIONS AS TO: (1) THE DESCRIPTION, CONDITION, DESIGN, QUALITY OR PERFORMANCE OF THE PROPERTY OR QUALITY OR CAPACITY OF MATERIALS OR WORKMANSHIP IN THE PROPERTY;
(2) ITS MERCHANTABILITY OR FITNESS OR SUITABILITY FOR A PARTICULAR PURPOSE WHETHER OR NOT DISCLOSED TO LESSOR; (3) THE ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER OR NOT DISCOVERABLE (4) THE ABSENCE OF ANY INFRINGEMENT OF ANY PATENT,
TRADEMARK OR COPYRIGHT OR THE LIKE; AND (5) THE ABSENCE OF OBLIGATIONS BASED ON STRICT LIABILITY IN TORT. It is agreed that all such risks incident to the matters described in this Section 10a, as between the Lessor and the

	 	
Lessee are to be borne by the Lessee. If the Property or Software is not properly installed, does not function as represented or warranted by original owner/seller/supplier/licensor, or is
unsatisfactory for any reason, Lessee shall make any claim on account thereof solely against original owner/seller/supplier/licensor and shall nevertheless pay all sums payable under the Lease, Lessee hereby waiving the right to make any such claims
against Lessor. Lessor shall not be liable to Lessee for any loss, damage or expense of any kind or nature caused, directly or indirectly, by the Property or the use, possession or maintenance thereof, or the repair, service or adjustment thereof,
or by any delay or failure to provide any such maintenance, repair, service or adjustment, or by any interruption of service or loss of use thereof (including without limitation, Lessee’s use of or right to use any Software) or for any loss of
business howsoever caused. 

  

	b.	NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THE LEASE, LESSOR SHALL NOT, UNDER ANY CIRCUMSTANCES, BE LIABLE TO LESSEE OR ANY THIRD PARTY, FOR CONSEQUENTIAL, INCIDENTAL, SPECIAL OR EXEMPLARY DAMAGES ARISING OUT
OF OR RELATED TO THE TRANSACTION CONTEMPLATED HEREUNDER, WHETHER IN AN ACTION BASED ON CONTRACT, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY) OR ANY OTHER LEGAL THEORY, INCLUDING WITHOUT LIMITATION, LOSS OF ANTICIPATED PROFITS, OR BENEFITS OF USE
OR LOSS OF BUSINESS, EVEN IF LESSOR IS APPRISED OF THE LIKELIHOOD OF SUCH DAMAGES OCCURRING. 

 IT IS EXPRESSLY UNDERSTOOD
AND AGREED THAT EACH AND EVERY PROVISION OF ANY LEASE WHICH PROVIDES FOR A LIMITATION OF LIABILITY, DISCLAIMER OF WARRANTIES OR EXCLUSION OF DAMAGES, IS INTENDED BY THE PARTIES TO BE SEVERABLE FROM ANY OTHER PROVISION AND IS A SEPARABLE AND
INDEPENDENT ELEMENT OF RISK ALLOCATION AND IS INTENDED TO BE ENFORCED AS SUCH. 
  

	c.	Lessor assigns to Lessee all assignable warranties on the Property, including without limitation any warranties described in Lessor’s purchase contract, which assignment shall be effective only (i) during the
Base Period and any renewal period thereof; and (ii) so long as no Event of Default exists. 

 SECTION 11. ASSIGNMENT BY LESSOR:

 Lessor may assign or transfer its rights and interests in the Lease and/or the Property to another party (“Lessor’s Assignee”) either
outright or as security for loans (collectively the “Underwriting”). Upon notice of any such assignment and instructions from Lessor, Lessee shall pay its Monthly Rental and other payments and perform its other obligations under the Lease
to the Lessor’s Assignee (or to another party designated by Lessor’s Assignee). Upon any such sale or assignment, LESSEE’S OBLIGATIONS TO LESSOR’S ASSIGNEE UNDER THE ASSIGNED LEASE SHALL BE ABSOLUTE AND UNCONDITIONAL AND LESSEE
WILL NOT ASSERT AGAINST LESSOR’S ASSIGNEE ANY CLAIM, DEFENSE, OFFSET OR COUNTERCLAIM WHICH LESSEE MIGHT HAVE AGAINST LESSOR. Lessee waives and will not assert against any assignee of Lessor any claims, defenses, or set-offs which Lessee could
assert against Lessor. Lessor’s Assignee shall have all of the rights but none of the obligations of Lessor under the assigned Lease, and after such assignment Lessor shall continue to be responsible for all of Lessor’s obligations under
the Lease. 
 Upon any such assignment, Lessee agrees to promptly execute or otherwise authenticate and deliver to Lessor estoppel certificates,
acknowledgements of assignment, records and other documents requested by Lessor which acknowledge the assignment, and affirmation of provisions of the Lease which may be required to effect the Underwriting. Lessee authorizes Lessor’s assigns to
file UCC-1 financing statements or precautionary filings as Lessor or its assigns deem necessary. Lessor’s assigns are authorized to take any measures necessary to protect their interest in the Property. 

Only one executed counterpart of any Schedule shall be marked “Original”; any other executed counterparts shall be marked “Duplicate
Original” or “Counterpart”. No security interest in any Schedule may be created or perfected through the transfer or possession or control, as applicable, of any counterpart other than the document or record, as applicable, marked
“Original”. 

 

 
 SECTION 12. ASSIGNMENT BY LESSEE: 

LESSEE MAY NOT ASSIGN ANY LEASE OR ANY OF ITS RIGHTS HEREUNDER OR SUBLEASE THE PROPERTY WITHOUT THE PRIOR WRITTEN CONSENT OF LESSOR, WHICH CONSENT SHALL NOT BE
UNREASONABLY WITHHELD. NO PERMITTED ASSIGNMENT OR SUBLEASE SHALL RELIEVE LESSEE OF ANY OF ITS OBLIGATIONS HEREUNDER. 
 Lessee grants Lessor a security
interest in any existing or future sublease of the Property and the proceeds thereof, whether or not such sublease is prohibited. Subject to the terms of this Lease, this Lease and each Schedule inure to the benefit of, and are binding upon, the
successors and assigns of Lessee, and, without limiting the foregoing, shall bind all persons who become bound as a “new debtor” (as defined in the Uniform Commercial Code) to this Lease and any Schedule. 

SECTION 13. LESSEE’S REPRESENTATIONS AND WARRANTIES: 

Lessee represents and warrants as follows: 
  

	a.	If Lessee is a corporation, that it is duly organized and validly existing in good standing under the laws of the jurisdiction of its incorporation, that it is duly qualified to do business in each jurisdiction where
any Property is, or is to be located, and has full corporate power and authority to hold property under lease and to enter into and perform its obligations under any Lease; that the execution, delivery and performance by Lessee of any Lease has been
duly authorized by all necessary corporate action on the part of Lessee, and is not inconsistent with its articles of incorporation or by-laws or other governing instruments; 

 

	b.	(i) Lessee’s state of organization is the state listed in the introductory paragraph of this Lease; (ii) Lessee’s principal office is located in the state listed in the introductory paragraph of this
Lease; (iii) Lessee is the legal entity or organization indicated in the introductory paragraph of this Lease, which organization is duly organized, validly existing and in good standing under the laws of the state listed in the introductory
paragraph of this Lease; and (iv) Lessee’s full and exact legal name is the same as listed in the introductory paragraph of this Lease; 

  

	c.	The execution, delivery and performance by Lessee of any Lease does not violate any law or governmental rule, regulation, or order applicable to Lessee, does not and will not contravene any provision of, constitute a
default under, or result in the creation of any lien on or in any property or assets of the Lessee, pursuant to any indenture, mortgage, contract, or other instrument to which it is bound and, upon execution and delivery of each Lease, will
constitute a legal, valid and binding agreement of Lessee, enforceable in accordance with its terms; 

  

	d.	If Lessee is a partnership, that it is duly organized by written partnership agreement and validly existing in accordance with the laws of the jurisdiction of its organization, that it is duly qualified to do business
in each jurisdiction where the Property is, or is to be located, and has full power and authority to hold property under lease and to enter into and perform its obligations under any Lease; that the execution, delivery and performance by Lessee of
any Lease has been duly authorized by all necessary action on the part of the Lessee, and is not inconsistent with its partnership agreement or other governing instruments. Upon request, Lessee will deliver to Lessor certified copies of its
partnership agreement and other governing instruments and original certificate of partners and other instruments deemed necessary or desirable by Lessor. To the extent required by applicable law, Lessee has filed and published its fictitious
business name certificate; 

  

	e.	No action, including any permits or consents, in respect of or by any state, federal or other governmental authority or agency is required with respect to the execution, delivery and performance by Lessee of any Lease,
and; 

  

	f.	There are no actions, suits or proceedings pending or, to the knowledge of the Lessee, threatened against or affecting the Lessee in any court or before any governmental commission, board

	 	
or authority which, if adversely determined, will have a material adverse effect on the ability of the Lessee to perform its obligations under any Lease. 

SECTION 14. RISK OF LOSS ON LESSEE: 
 From the earlier of
the date the supplier ships the Property to Lessee or the date Lessor confirms Lessee’s purchase order or contract to supplier until the date the Property is returned to Lessor as provided in the Lease, Lessee hereby assumes and shall bear all
risk of loss for theft, damage, non-delivery or destruction to the Property or caused by the Property to the environment, persons or other property (hereafter, such loss, damage, non-delivery or destruction to the Property or caused by the Property
to the environment, persons or other property shall be referred to as the “Casualty”), howsoever caused. NO SUCH CASUALTY SHALL IMPAIR ANY OBLIGATION OF LESSEE UNDER THIS LEASE, WHICH OBLIGATION, INCLUDING TIMELY RENTAL PAYMENTS, SHALL
CONTINUE IN FULL FORCE AND EFFECT. 
 SECTION 15. LESSEE’S WAIVERS: 

To the extent permitted by applicable law, Lessee hereby waives any and all rights and remedies conferred upon a Lessee by §§ 70A-2A-508 through
70A-2A-522 of the Utah Uniform Commercial Code, including but not limited to Lessee’s rights to: (i) cancel the Lease; (ii) repudiate the Lease; (iii) reject the Property; (iv) revoke acceptance of the Property;
(v) recover damages from Lessor for any breaches of warranty or for any other reason; (vi) claim, grant or permit a security interest in the Property in Lessee’s possession or control for any reason; (vii) deduct all or any part
of any claimed damages resulting from Lessor’s default, if any, under the Lease; (viii) cover by making any purchase or lease of or contract to purchase or lease property in substitution for the Property due from Lessor; (ix) recover
any general, special, incidental or consequential damages, for any reason whatsoever; and (x) commence legal action against Lessor for specific performance, replevin, detinue, sequestration, claim and delivery or the like for any Property
identified in the Lease. To the extent permitted by applicable law, Lessee also hereby waives any rights now or hereafter conferred by statute or otherwise which may require Lessor to sell, lease or otherwise use any Property in mitigation of
Lessor’s Damages as set forth in Section 19 hereof or which may otherwise limit or modify any of Lessor’s rights or remedies in that section. 

SECTION 16. INDEMNIFICATION: 
 Lessee shall indemnify and
hold Lessor harmless from and against any and all claims, (including without limitation negligence, tort and strict liability), damages, judgments, suits and legal proceedings, and any and all costs and expenses in connection therewith (including
attorney fees incurred by Lessor either in enforcing this indemnity or in defending against such claims), arising out of or in any manner connected with or resulting from the Lease or the Property, including, without limitation the manufacture,
purchase, financing, ownership, rejection, non-delivery, transportation, delivery, possession, use, operation, maintenance, condition, lease, return, storage or disposition thereof; including without limitation (i) claims for injury to or death
of persons and for damage to property; (ii) claims relating to latent or other defects in the Property whether or not discoverable by Lessor; (iii) claims relating to patent, copyright, or trademark infringement; and (iv) claims for
wrongful, negligent or improper act or misuse by Lessor; and (v) claims for any damages to persons or property, any costs associated with, or any fines caused by violation of any Environmental Laws. Lessee agrees to give Lessor prompt notice of
any such claim or liability. For purposes of this paragraph and any Lease, the term “Lessor” shall include Lessor, its successors and assigns, shareholders, members, owners, partners, directors, officers, representatives and agents, and
the provisions of this paragraph shall survive expiration of any Lease with respect to events occurring prior thereto. 
 Upon request of Lessor, Lessee
shall assume the defense of all demands, claims, or actions, suits and all proceedings against Lessor for which indemnity is provided and shall allow Lessor to participate in the defense thereof. Lessor shall be subrogated to all rights of Lessee
for any matter which Lessor has assumed obligation hereunder, and may settle any such demand, claim, or action without Lessee’s prior consent, and without prejudice to Lessor’s right to indemnification hereunder.

 

 
 SECTION 17. INSURANCE: 

Lessee shall obtain and maintain for the entire time the Lease is in effect, at its own expense (as primary insurance for Lessor and Lessee), property damage
and liability insurance (including any claims caused from the breach of any Environmental Laws involving the Property) and insurance against loss or damage to the Property including without limitation loss by fire (including so-called extended
coverage), theft, collision and such other risks of loss as are customarily insured against on the type of Property leased under any lease and by businesses in which Lessee is engaged, in such amounts, in such form and with such insurers as shall be
reasonably satisfactory to Lessor; provided, however, that the amount of insurance against loss or damage to the Property shall be equal to or greater than the full replacement value or the Stipulated Loss Value (as defined herein) of such items of
Property. Stipulated Loss Value means the product of the Property cost (as designated on the related Schedule) and the applicable percentage factor set forth on the Stipulated Loss Schedule attached to the Schedule (“Stipulated Loss
Value”). Each insurance policy will name Lessee as insured and Lessor and its assignees as additional insureds and loss payees thereof, shall contain cross-liability endorsements and shall contain a clause requiring the insurer to give Lessor
and its assignees at least thirty (30) days prior written notice of any material alteration in the terms of such policy or of the cancellation thereof. Lessee shall furnish to Lessor a certificate of insurance or other evidence satisfactory to
Lessor that such insurance coverage is in effect; provided, however, that Lessor shall be under no duty either to ascertain the existence of or to examine such insurance policy or to advise Lessee in the event such insurance coverage shall not
comply with the requirements hereof. All insurance covering loss or damage to the Property shall contain a breach of warranty clause satisfactory to Lessor. 

In the event of a Casualty to the Property (or any part thereof) and irrespective of payment from any insurance coverage maintained by Lessee, but applying
full credit thereof, Lessee shall at its option (unless an Event of Default has occurred and shall be continuing, in which case, it shall be at Lessor’s option). (i) place the Property in good repair, condition and working order; or
(ii) replace the Property (or any part thereof) with like property of equal or greater value, in good repair, condition and working order and transfer clear title to such replacement property to Lessor whereupon such replacement property shall
be deemed the Property for all purposes under the Lease; or (iii) pay to Lessor the total rent due and owing at the time of such payment plus an amount calculated by Lessor which is equal to the Stipulated Loss Value (defined in the Stipulated
Loss Schedule) specified in the Stipulated Loss Schedule attached to the Schedule. 
 Lessee shall notify Lessor within ten (10) days of the actual
date of the Casualty, and in its notice include; its election of either option (i), (ii), or (iii), as set forth above, if Lessee fails to notify Lessor of its election within ten (10) days of the Casualty, Lessor shall make the election
(within five (5) days of notice from Lessee of the Casualty) and direct the Lessee to fully perform the repair, replacement or payment which performance shall occur within sixty (60) days of the date of the Casualty. Lessee’s failure
to notify Lessor within ten (10) days of the Casualty shall constitute a default as set for the in Section 18 herein, and Lessee shall waive its right to elect option (i), (ii), or (iii) as set forth above; upon discover of the
Casualty, Lessor shall direct Lessee to repair, replace, or make payment and Lessee shall fully perform within thirty (30) days of such notice. 

SECTION 18. DEFAULT: 
 An “Event of Default”
shall occur under any Lease if Lessee breaches any of the following and such breach is not cured to Lessor’s satisfaction within ten (10) days after written notice thereof is provided to Lessee; provided, however, that the ten
(10) day cure period shall not apply for Lessee’s breach of sections, 18(i), 18(h), 18(f) or 18(1), or failure to maintain insurance as required under Section 17 hereof: 

 

	a.	Lessee fails to pay any Monthly Rental or other payment required under the Lease when the same becomes due and payable; 

  

	b.	Lessee fails to promptly execute or otherwise authenticate and deliver to Lessor or its assigns any document or record, as applicable, required under the terms of this Master Lease Agreement; 

 

	c.	Lessee attempts to or does, sell, assign, transfer, encumber, sublet of any one or more items of the Property or any interest under any Lease, except as expressly permitted herein, or permits a

	 	
judgment or other claim to become a lien upon any or all of Lessee’s assets or upon the Property; 

  

	d.	Lessee permits any item of Property to become subject to any levy, seizure, attachment, assignment or execution; or Lessee abandons any item of Property; 

 

	e.	Lessee fails to immediately (within ten (10) days) notify Lessor of any loss, damage, or destruction to the Property or fails to timely repair, replace, or make payment as required in Sections 7 and 17, herein;

  

	f.	Lessee or any guarantor, shall (i) be adjudicated insolvent or bankrupt, or cease, be unable, or admit its inability, to pay its debts as they mature, or make a general assignment for the benefit of creditors or
enter into any composition or arrangement with creditors; (ii) apply for or consent to the appointment of a receiver, trustee or liquidator of it or of a substantial part of its property, or authorize such application or consent, or proceedings
seeking such appointment shall be instituted against it without such authorization, consent or application and shall continue undismissed for a period of sixty (60) days; (iii) authorize or file a voluntary petition in bankruptcy or apply
for or consent to the application of any bankruptcy, reorganization in bankruptcy, arrangement, readjustment of debt, insolvency, dissolution, moratorium or other similar law of any jurisdiction, or authorize such application or consent; or
proceedings to such end shall be instituted against it without such authorization, application or consent and such proceeding instituted against it shall continue undismissed for a period of sixty (60) days; 

 

	g.	Lessee is in default under any Lease or agreement executed with Lessor; or Lessee fails to sign or otherwise authenticate and deliver to Lessor any document or record reasonably requested by Lessor in connection with
any Lease executed with Lessor; or Lessee fails to do anything whatsoever reasonably determined by Lessor to be necessary or desirable to effectuate the transaction contemplated by any Lease executed with Lessor; or Lessee fails to protect
Lessor’s rights and interests in any Lease and the Property; or Lessee fails to provide financial statements to Lessor as provided in Section 20k hereof; or Lessee is in default of any obligation or any material agreement with any person
or entity other than Lessor which obligation or agreement arises independently of any Lease; 

  

	h.	Lessee or any guarantor, breaches any of its representations and warranties made under any Lease, or if any such representations or warranties shall be false or misleading in any material respect; 

 

	i.	Lessee or any guarantor, fails to observe or perform any of its covenants and obligations required to be observed or performed under the Lease and such failure continues uncured for ten (10) days after occurrence
thereof, except that the ten (10) day cure period shall not apply and an Event of Default shall occur immediately upon Lessee’s failure to maintain insurance; 

 

	j.	Lessee or any guarantor, shall suffer a material adverse change in its financial condition after the date hereof as determined by Lessor in its reasonable discretion, or there shall occur a substantial change in control
of its board of directors and/or members, resulting in an adverse change in Lessee’s financial condition or creditworthiness as determined by Lessor in its reasonable discretion; 

 

	k.	Lessor in good faith believes that the prospect of payment or performance has become materially impaired, or if Lessee takes any action, makes any representation, or fails to do any thing reasonably requested by Lessor,
at any time before or after the execution of this Master Lease Agreement, the result of which causes Lessor, in good faith, to believe that the prospect of Lessee’s payment or performance under the Lease is materially impaired, or otherwise
causes Lessor to feel materially insecure in funding or continuing to fund the Lease or any Schedule; 

  

	l.	 Lessee shall have terminated or changed its corporate existence, consolidated with, merged into, or conveyed or leased substantially all of its assets
to any person or entity, unless: (i) such person or entity executes and delivers to Lessor an agreement reasonably satisfactory in form and substance to Lessor, containing such person’s or entity’s effective assumption, and its
agreement to pay, 

 

	 	
perform, comply with and otherwise be liable for, in a due and punctual manner, all of Lessee’s obligations having previously arisen, or then or thereafter arising, under the Lease, together
with any and all documents, agreements, instruments, certificates, opinions and filings requested by Lessor; (ii) Lessor is reasonably satisfied as to the creditworthiness of such person’s or entity’s conformance to other standard
criteria then used by Lessor for such purposes; and (iii) Lessee has provided no less than thirty (30) days prior written notice of such occurrence to Lessor or its assigns; 

 

	m.	Lessee breaches any material License, maintenance or other agreement for Software or fails to pay when due all servicing fees, maintenance fees, update and upgrade costs, modification costs, and all other costs and
expenses relating to the License and Software and fails to maintain the License in effect during the term of the Lease. 

 SECTION 19.
REMEDIES: 
 Upon the occurrence of any Event of Default and at any time thereafter, Lessor may with or without giving notice to Lessee and with or
without canceling the Lease, do any one or more of the following 
  

	a.	enforce this Master Lease Agreement according to its terms; 

  

	b.	require additional collateral to secure the Lease; 

  

	c.	upon notice to Lessee, cancel this Master Lease Agreement and any or all Schedules executed pursuant thereto; 

  

	d.	advance funds on Lessee’s behalf to cure the Event of Default, whereupon Lessee shall immediately reimburse Lessor therefore, together with late charges accrued thereon; 

 

	e.	upon notice to Lessee, refuse to fund any Schedule(s) pursuant to the Lease; 

  

	f.	declare any Lease or Leases immediately due and payable; 

  

	g.	refuse to deliver the Property to Lessee; 

  

	h.	declare immediately due and payable all amounts due or to become due hereunder for the full term of the Lease (including any renewal period or purchase options which Lessee has contracted to pay); 

 

	i.	in its sole discretion, sell, re-lease or otherwise dispose of any or all of the Property covered under any Schedule, whether or not in Lessor’s possession, in a commercially reasonable manner at public or private
sale with notice to Lessee (the parties agreeing that ten (10) days’ prior written notice shall constitute adequate notice of such sale), and apply the net proceeds of any such disposition, after deducting all costs incurred by Lessor in
connection with such default, to the obligations of Lessee hereunder and under such Schedule, or retain any or all of the Property in full or partial satisfaction, as the case may be, with Lessee remaining liable for any deficiency. The sale,
re-lease, or other disposition may, at Lessor’s sole option, be conducted at Lessee’s premises. Lessor may at its sole discretion recover from Lessee liquidated damages for the loss of a bargain and not as a penalty an amount equal to
Lessor’s Damages; 

  

	j.	without notice to Lessee, repossess, disable or demand Lessee to disable the Property wherever found, with or without legal process, and for this purpose Lessor and/or its agents or assigns may enter upon any premises
of or under the control or jurisdiction of Lessee or any agent of Lessee, without liability for suit, action or other proceeding by Lessee (any damages occasioned by such repossession or disablement being hereby expressly waived by Lessee) and
remove or disable the Property therefrom; Lessee further agrees on demand, to assemble the Property and make it available to Lessor at a place to be designated by Lessor; 

 

	k.	exercise any other right or remedy which may be available to it under the Uniform Commercial Code or any other applicable law; 

  

	l.	if Lessor determines, in its sole discretion, not to take possession of the Property, Lessor shall continue to be the owner of the Property and may, but is not obligated to, dispose of the Property by sale or

	 	
otherwise, all of which determinations may be made by Lessor in its sole discretion and for its own account; 

 

	m.	a cancellation hereunder shall occur only upon notice by Lessor and only as to such items of Property as Lessor specifically elects to cancel and this Lease shall continue in full force and effect as to the remaining
items, if any; 

  

	n.	Recover the Stipulated Loss Value of the Property together with all accrued but unpaid late charges, interest, taxes, penalties, and any and all other sums due and owing under the Schedule as of the rent payment date
immediately preceding the date of default whereupon after Lessor’s receipt of such amounts and provided the Event of Default occurred after 18 Base Period Monthly Rental payments have been made, Lessor shall convey title to the Property to
Lessee; 

  

	o.	With respect to any exercise by Lessor of its right to recover and/or dispose of any Property securing Lessee’s obligations under any Schedule, Lessee acknowledges and agrees as follows: (i) Lessor shall have
no obligation, subject to the requirements of commercial reasonableness, to clean-up or otherwise prepare the Property for disposition; (ii) Lessor may comply with any applicable State or Federal law requirements in connection with any
disposition of the Property, and any actions taken in connection therewith shall not be deemed to have adversely affected the commercial reasonableness of any disposition of such Property; (iii) Lessor may specifically disclaim any warranties
of title or the like with respect to the disposition of the Property; (iv) if Lessor purchases any of the Property, Lessor may pay for the same by crediting some or all of Lessee’s obligations hereunder or under any Schedule; and
(v) no right or remedy referred to in this Section is intended to be exclusive, but each shall be cumulative and shall be in addition to any other remedy referred to above or otherwise available at law or in equity, and may be exercised
concurrently or separately from time to time; 

  

	p.	(i) by notice to Lessee, declare any license agreement with respect to Software terminated, in which event the right and license of Lessee to use the Software shall immediately terminate, and Lessee shall thereupon
cease all use of the Software and return all copies thereof to Lessor or original licensor; (ii) have access to and disable, or demand Lessee to disable the Software by any means deemed necessary by Lessor, including but not limited to
disabling the computers, computer systems or other equipment which run and/or operate and/or are controlled by the Software, for which purposes Lessee hereby expressly consents to such access and disablement, promises to take no action that would
prevent or interfere with Lessor’s ability to perform such access and disablement, and waives and releases any and all claims that it has or might otherwise have for any and all losses, damages, expenses, or other detriment that it might suffer
as a result of such access and disablement; and (iii) Lessee agrees that the detriment which Lessor will suffer as a result of a breach by Lessee of the obligations contained in the Lease cannot be adequately compensated by monetary damages,
and therefore Lessor shall be entitled to injunctive and other equitable relief to enforce the provisions of this Section 19q. LESSEE AGREES THAT LESSOR SHALL HAVE NO DUTY TO MITIGATE LESSOR’S DAMAGES UNDER ANY LEASE BY TAKING LEGAL ACTION
TO RECOVER THE SOFTWARE FROM LESSEE OR ANY THIRD PARTY, OR TO DISPOSE OF THE SOFTWARE BY SALE, RE-LEASE OR OTHERWISE. 

 Lessor may exercise
any and all rights and remedies available at law or in equity, including those available under the Uniform Commercial Code. The rights and remedies afforded Lessor hereunder shall not be deemed to be exclusive, but shall be in addition to any rights
or remedies provided by law. Lessor’s failure promptly to enforce any right or remedy hereunder shall not operate as a waiver of such right or remedy, and Lessor’s waiver of any default shall not constitute a waiver of any subsequent or
other default. Lessor may accept late payments or partial payments of amounts due under the Lease and may delay enforcing any of Lessor’s rights or remedies hereunder without losing or waiving any of Lessor’s rights or remedies under the
Lease. 
 In connection with Lessor’s exercise of any or all of the above-listed remedies, Lessor shall be entitled to recover all costs and expenses
incurred by Lessor in the repossession, recovery, storage, repair, sale, 

 

 
re-lease or other disposition of the Property, or the termination or disabling of Software, including without limitation, reasonable attorney fees and costs incurred in connection therewith or
otherwise resulting or arising from Lessee’s default, and any indemnity if then determinable, plus interest on all of the above until paid (before and after judgment) at the lesser of the rate of eighteen percent (18%) per annum or the
highest rate permitted by law. In the event of involuntary repossession by Lessor through judicial proceedings, or through a sheriff’s levy and sale, Lessee hereby waives any requirement that Lessor post a bond. 

SECTION 20. ADDITIONAL PROVISIONS: 
  

	a.	Security Interest. The parties acknowledge and agree that this is a “true lease” and title to the leased Property (or Lessee’s interest in the Property if the Property is Software) is vested in the
Lessor. In the event a court of competent jurisdiction or other governing authority shall determine that the Lease is not a “true lease” or is a lease intended as security or that Lessor (or its assigns) does not hold legal title to or is
not the owner of the Property, the following shall apply: 

  

	 	i	Effective the execution date of the Lease, Lessee, as debtor, grants a security interest to Lessor, as secured party, in the Property (or Lessee’s interest in the Property if the Property is Software), including
but not limited to equipment and other personal property, general intangibles, Software and Lessee’s license rights and other rights to use the Software, and accessions thereto, and any refunds, rebates, remittances, and all rights and services
related thereto, and proceeds of any of the foregoing, to secure all duties and obligations of Lessee under any Lease or other agreement with Lessor. The Lease shall be deemed to be a security agreement with Lessee having granted to Lessor a
security interest in the Property, and the Property shall secure all duties and obligations of Lessee under any Lease or other agreement with Lessor. With regard to any security interest created hereunder in any of the Property, Lessee consents and
agrees that Lessor shall have all of the rights, privileges and remedies of a secured party under the Utah Uniform Commercial Code. 

  

	 	ii	Lessee authorizes Lessor to file financing statements and any records describing the Property and to take any and all actions necessary to perfect Lessor’s interest in the Property. Lessee agrees to execute any
further documents, and to take any further actions, reasonably requested by Lessor to evidence or perfect the security interest granted under this subpart of the Lease, to maintain the first priority of the security interests, or to effectuate the
rights granted to Lessor under this subpart of the Lease. 

  

	b.	Entire Agreement. Each Schedule shall incorporate the terms and conditions of this Master Lease Agreement and, together with the Acceptance and Delivery Certificate and Master Progress Payment Agreement (and
Certificates thereunder), if applicable, and any amendments to any of the foregoing documents, shall supersede all prior communications, representations, agreements, and understandings, including but not limited to offer letters, proposal letters,
comfort letters, commitment letters and the like, and constitute the entire understanding and agreement between the Lessor and Lessee with regard to the subject matter hereof and thereof, and there is no understanding or agreement, oral or written,
which is not set forth herein or therein. In the event of conflict between the provisions of this Master Lease Agreement and any Schedule, the provisions of the Schedule shall govern. 

 

	c.	Time Is of the Essence. Time is of the essence with respect to any Lease. 

  

	d.	Captions. Captions and section headings are inserted for reference and convenience only and in no way define, limit or describe the scope of this agreement or intent of any provision. 

 

	e.	Governing Law. THIS LEASE (AS DEFINED IN SECTION 22 HEREIN) SHALL IN ALL RESPECTS BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF UTAH, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND
PERFORMANCE. THE PARTIES AGREE TO SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE OF UTAH; ANY SUIT OR OTHER

	 	
PROCEEDING BROUGHT BY EITHER PARTY TO ENFORCE OR CONSTRUE THIS LEASE (AS DEFINED IN SECTION 22 HEREIN), OR TO DETERMINE MATTERS RELATING TO THE PROPERTY OR THE RELATIONSHIP BETWEEN THE PARTIES
HERETO SHALL BE BROUGHT ONLY IN THE STATE OR FEDERAL COURTS IN THE STATE OF UTAH. THIS LEASE WAS EXECUTED IN THE STATE OF UTAH (BY THE LESSOR HAVING COUNTERSIGNED IT IN UTAH) AND IS TO BE PERFORMED IN THE STATE OF UTAH (BY REASON OF ONE OR MORE
PAYMENTS REQUIRED TO BE MADE TO LESSOR IN UTAH). 

  

	f.	Waiver of Trial by Jury. Lessor and Lessee hereby waive the right to trial by jury of any matters arising out of the Lease or Property or the conduct of the relationship between Lessor and Lessee.

  

	g.	Severability. Should any term or provision of this Agreement be declared invalid, illegal, void or unenforceable, all remaining terms and provisions hereof will remain in full force and effect and will in no way
be invalidated or affected thereby. 

  

	h.	Binding Effect: Survivability. The provisions of each Lease shall inure to the benefit of and shall bind Lessor and Lessee and their respective permitted successors and assigns. All representations, warranties,
covenants and indemnities of Lessee made or agreed to in the Lease or in any certificates delivered in connection therewith shall survive the expiration, termination or cancellation of the Lease for any reason. 

 

	i.	Waiver. A waiver by either Party of any term or condition of this agreement in any instance shall not be deemed or construed to be a waiver of such term or condition for the future, or any subsequent breach
thereof. 

  

	j.	Limitations. No paragraph, clause or phrase of this agreement shall limit, infringe, deny, negate, refuse or render void any other paragraph, clause or phrase of this agreement. 

 

	k.	Financial Statements. Lessee, and any guarantor, shall provide to Lessor a copy of its annual unaudited financial statements and tax returns within ninety (90) days after its fiscal year end, and a copy of
its quarterly unaudited financial statements within forty-five (45) days after the end of each fiscal quarter. 

  

	l.	Acceptance and Delivery Certificate. If Lessee fails to sign and deliver an Acceptance and Delivery Certificate, then except as otherwise provided in Section 8c hereof, the Date of Acceptance shall be a date
determined by Lessor which shall be no sooner than the date Lessee receives substantially all of the Property. 

  

	m.	Covenant of Quiet Possession. Lessor agrees that so long as no Event of Default has occurred and is continuing, Lessee shall be entitled to quietly possess the Property subject to and in accordance with the terms
and conditions of this Master Lease Agreement. 

  

	n.	 Lessee’s Options at Maturity of Base Period. At the end of the Base Period of any Schedule, unless otherwise provided herein, the Schedule
shall automatically renew for twelve (12) additional months at the rate specified on the respective Schedule. Provided that Lessee gives written notice to Lessor, by certified mail, received by Lessor at least one hundred fifty (150) days
prior to the end of the Base Period of any Schedule, Lessee shall be granted the opportunity to negotiate with Lessor concerning one of the following options: (1) purchase the Property for a price to be determined by Lessor and Lessee, or (2),
or terminate the Schedule and return the Property to Lessor at Lessee’s expense to a destination within the continental United States specified by Lessor; provided, however, that for option (2) to apply, all accrued but unpaid late
charges, interest, taxes, penalties, and any and all other sums due and owing under the Schedule must first be paid in full, the provisions of Sections 8f, 8g and 7d hereof must be specifically complied with, and Lessee must enter into a new
Schedule with Lessor to lease Property which replaces the Property listed on the old Schedule. With respect to options (1) and (2), each party shall have the right in its absolute and sole discretion to accept or reject any terms of purchase or
of any new Schedule, as applicable. In the event Lessor and Lessee have not agreed to either option (1) or (2) prior to the maturity of the Base Period, or if Lessee fails to give written notice via certified mail at least one hundred
fifty (150) days prior to the maturity of the Base Period of its intent to negotiate, or if an

 

 
Event of Default has occurred under any Schedule, then options (1) and (2) shall expire and the Schedule shall automatically renew as provided herein. At the maturity of the initial
twelve (12) month renewal period provided above, the Schedule shall continue in effect at the rate specified in the respective Schedule for successive periods of six (6) months, each subject to termination at the maturity of any such
successive six-month renewal period by either Lessor or Lessee giving to the other party at least thirty (30) days prior written notice of termination. Lessee acknowledges that Lessor has no obligation to enter into any agreement as a result of
the initiation of discussions concerning options (1) or (2). LESSEE ACKNOWLEDGES AND AGREES THAT IT HAS READ AND UNDERSTANDS THE FOREGOING PROVISIONS AND HAS HAD THE OPPORTUNITY TO DISCUSS THEM WITH LESSOR AND/OR ITS COUNSEL, SHOULD IT SO
DESIRE. In the event of a disagreement between the parties in the interpretation of any provision of this Section 20(n), the parties agree that the ambiguity shall not be interpreted for or against either party upon grounds of authorship. This
Section 20(n) shall supersede all prior communications, representations, agreements and understandings, including but not limited to offer letters, proposal letters, comfort letters, commitment letters, emails and the like and constitutes the
entire understanding and agreement between Lessor and Lessee with regard to the subject matter of this Section 20(n), and THERE IS NO UNDERSTANDING OR AGREEMENT, ORAL OR WRITTEN, WHICH IS NOT SET FORTH HEREIN; provided, however, that in the
event of a conflict between the provisions of this Section 20(n) and any Schedule, the provisions of the Schedule shall govern. 
  

	o.	Notices. Notices or demands required to be given herein shall be in writing and addressed to the other party at the address herein or such other address provided by written notice hereunder and shall be effective
(i) upon the next business day if sent by guaranteed overnight express service; (ii) on the same day if personally delivered; or (iii) three days after mailing if sent by certified or registered U.S. mail, postage prepaid.

  

	p.	Further Assurances; Financing Statements. Lessee will cooperate with Lessor in protecting Lessor’s interests in the Property, the Lease and the amounts due under the Lease, including, without limitation, the
execution (or other authentication), and delivery of Uniform Commercial Code statements, records and filings, patent and copyright registration documents with respect to proprietary Software (if applicable), and other documents requested by Lessor.
Lessee will promptly execute, or otherwise authenticate, and deliver to Lessor such further documents, instruments, assurances and other records, and take such further action as Lessor may reasonably request in order to carry out the intent and
purpose of this Lease and to establish and protect the rights and remedies created or intended to be created in favor of Lessor under this Lease. Lessee hereby authorizes Lessor to file UCC-1 financing statements, fixture filings, real property
waivers, and all other filings and recordings, as may be deemed necessary by Lessor. Lessee hereby authorizes and/or ratifies the filing of any UCC-1 financing statements by Lessor before or after the execution of this Lease. Lessee shall pay all
costs of filing any financing amendment, continuation and termination statements with respect to the Property and Lease, including without limitation, any intangibles tax, documentary stamp tax or other similar taxes or charges relating thereto and
all costs of UCC or other lien searches and of obtaining and filing any full or partial third-party releases deemed necessary or advisable by Lessor. Lessee will do whatever may be necessary or advisable to have a statement of the interest of Lessor
in the Property noted on any certificate of title relating to the Property and will deposit said certificate with Lessor. Lessee will execute, or otherwise authenticate, and deliver to Lessor such other documents, records and written assurances and
take such further action as Lessor may request to more fully carry out the implementation, effectuation, confirmation and perfection of the Lease and any rights of Lessor thereunder. Lessee grants to Lessor a security interest in all deposits and
other property transferred or pledged to Lessor to secure the payment and performance of all of Lessee’s obligations under the Lease. Lessor is authorized to take any measures necessary to protect its interest in the Property.

 In the event the Property is in the possession of a third party, Lessee will join with Lessor
in notifying the third party of Lessor’s interest in the Property and obtaining an acknowledgment from the third party that the third party is holding the Property for the benefit of Lessor. 

 

	q.	Lessor’s Right to Perform for Lessee. If Lessee fails to perform or comply with any of its agreements contained herein, Lessor may perform or comply with such agreements and the amount of any payments and
expenses of Lessor incurred in connection with such performance or compliance (including reasonable attorney fees), together with interest thereon at the lesser of the rate of eighteen percent (18%) per annum, or the highest rate permitted by
law shall be deemed additional rent payable by Lessee upon demand. 

  

	r.	Counterparts; Chattel Paper. This Lease may be executed in any number of counterparts and by different parties hereto or thereto on separate counterparts, each of which, when so executed or otherwise
authenticated and delivered, shall be an original, but all such counterparts shall together consist of but one and the same instrument; provided, however, that to the extent that this Lease and/or the Schedule(s) would constitute chattel paper, as
such term is defined in the Uniform Commercial Code as in effect in any applicable jurisdiction, no security interest herein or therein may be created or perfected through the transfer or possession of this Lease in and of itself without the
transfer or possession or control, as applicable, of the original counterpart of such Schedule(s) identified as the document or record (as applicable) marked “Original”, and all other counterparts shall be marked “Duplicate
Original” or “Counterpart”. 

  

	s.	Joint and Several Liability. In the event two or more parties execute this Master Lease Agreement as Lessee, each party shall be jointly and severally liable for all Lessee representations, warranties, and
obligations (including without limitation, payment obligations) under this Master Lease Agreement or under any Schedule or other document executed in connection herewith. Any and all representations, agreements, or actions by one Lessee shall be
binding on all other Lessees. 

  

	t.	Legal Fees and Other Costs. Lessee shall reimburse Lessor for all reasonable legal fees and additional charges, costs and expenses incurred by Lessor: (i) in review or preparation of this Lease Agreement,
any Schedule and any other document or agreement in connection with this Lease Agreement; (ii) in review or preparation of any changes or amendments required by Lessee to Lessor’s standard Lease documentation; (iii) in periodic legal
reviews of the Lease Agreement, Schedules and other Lease documentation; (iv) in defending or protecting its interest in the Property; (v) in the execution, delivery, administration, amendment and enforcement of the Lease or the collection
of any rent or other payments due under the Lease, or the preparation of any amendments or settlement agreements prepared in connection with the Lease; and (vi) in any lavwsuit or other legal or arbitration/mediation proceeding to which the
Lease gives rise, including without limitation; actions in tort. Lessee shall pay applicable legal fees at the rate of no more than $350.00 per hour. Lessee shall pay a documentation fee calculated at .15% of the total cost of property with a
minimum of $750.00 and a maximum of $7,500.00 for each Schedule. 

  

	u.	Amendment and Modification. The Lease may not be amended or modified except by a written amendment executed by a duly authorized representative of each party, but no such amendment or modification needs further
consideration to be binding. Notwithstanding the foregoing, Lessee authorizes Lessor to amend any Schedule to identify more accurately the Property (including, without limitation, supplying serial numbers or other identifying data), and such
amendment shall be binding on Lessor and Lessee unless Lessee objects thereto in writing within ten (10) days after receiving notice of the amendment from Lessor. 

 

	v.	Unauthorized Distribution of Lease Documents Prohibited. Lessee agrees that it will not, through any of its actions or omissions, cause any document or any portion of any document, associated with any Lease to be
delivered, distributed, or otherwise fall into the possession of anyone not employed by Lessee on a full time basis (other than its attorneys, and other advisors), without the written consent of Lessor. Lessee further acknowledges that any such
unauthorized delivery or distribution could cause Lessor to suffer irreparable economic harm. 

 

	w.	Change in Lessee’s Name. Address and Jurisdiction. Lessee shall not change its name, chief executive office address, or jurisdiction of organization from that set forth above, unless it shall have given
Lessor or its assigns no less than thirty (30) days prior written notice. 

  

	SECTION	21. POWER OF ATTORNEY: 

 LESSEE HEREBY AUTHORIZES AND APPOINTS LESSOR AND LESSOR’S AGENTS AND
ASSIGNS AS LESSEE’S ATTORNEY-IN-FACT TO EXECUTE ACKNOWLEDGEMENT LETTERS AND OTHER DOCUMENTS REQUIRED TO BE EXECUTED BY LESSEE TO EFFECT ANY UNDERWRITING OR PERFECT ANY SECURITY INTEREST WITH REGARD TO A SCHEDULE. 

 

	SECTION	22. DEFINITIONS 

 All capitalized terms not defined herein are defined in the Schedule. 

 

	a.	“Acceptance and Delivery Certificate” means, any acceptance and delivery certificate, executed by the Lessee in connection with a Schedule, a Master Progress Payment Agreement, if any, and this Master Lease
Agreement whereby the Lessee acknowledges that the items of Property to be leased have been delivered, received, installed, examined and tested and determined by Lessee to be satisfactory. 

 

	b.	“Base Period” means, the period of any Lease referred to as such on the related Schedule under this Master Lease Agreement. 

 

	c.	“Certificate” means, an Acceptance and Delivery and Approval for Progress Payment Certificate executed by the Lessee in connection with a Schedule, a Master Progress Payment Agreement and this Master Lease
Agreement. 

  

	d.	“Date of Acceptance” means, except as otherwise provided in Section 8c of this Master Lease Agreement, the date Lessee accepts the Property designated on any Schedule, as set forth in any Acceptance and
Delivery Certificate executed by the Lessee in form provided by Lessor. 

  

	e.	“Lease Commencement Date” means, as to the Property designated on any Schedule, where the Date of Acceptance for such Schedule falls on the first day of a calendar quarter, that date,

	 	
and in any other case, the first day of the calendar quarter following the calendar quarter in which such Date of Acceptance falls. 

 

	f.	“Lease” means, a Schedule incorporating the terms of this Master Lease Agreement, together with the related Master Progress Payment Agreement, if any, Stipulated Loss Schedule, Acceptance and Delivery
Certificate, UCC financing statements and all other supporting documentation related thereto. 

  

	g.	“Lessor’s Damages” means, the Stipulated Loss Value together with costs, expenses, attorney’s fees, interest, and any determinable indemnity owed by Lessee to Lessor. 

 

	h.	“Master Progress Payment Agreement” means, an agreement under which (i) Lessee accepts items of Property by signing a Certificate, (ii) Lessor agrees to purchase said items or Property, and
(iii) Lessee agrees to pay service charges, all prior to the Date of Acceptance of all Property under the Schedule. 

  

	i.	“Monthly Rental” means, the monthly rental, together with sales tax and other amounts, if applicable, referred to as such on the related Schedule under this Master Lease Agreement. 

 

	j.	“Property” means, equipment and other property, together with all related software whether embedded therein or otherwise, with all attachments, replacements, parts, substitutions, additions, repairs,
accessions and accessories, incorporated therein and/or affixed thereto described in any Lease Schedule to be executed and delivered by Lessor and Lessee in connection with this Master Lease Agreement. 

 

	k.	“Schedule” means, any Lease Schedule to be executed and delivered by Lessor and Lessee under this Master Lease Agreement, which Schedule states the terms and other information associated with the Schedule and
describes the leased Property. 

  

	l.	“Software” means, any computer program and supporting data, including all documentation, later versions, updates, upgrades and modifications, provided and/or described in any Lease Schedule to be executed and
delivered by Lessor and Lessee in connection with this Master Lease Agreement. 

  

	m.	“Stipulated Loss Schedule” means, Schedule of Stipulated Loss Values relating to a specific Schedule under this Master Lease Agreement.

 

  
 IN WITNESS WHEREOF, Lessor and Lessee have
executed this Master Lease Agreement on the month, day and year first above written. 
  

									
	LESSOR:	 		 	LESSEE:
			
	ONSET FINANCIAL, INC.	 		 	GREAT BASIN SCIENTIFIC, INC.
					
	BY:	 	/s/ Nancy Eggan	 		 	BY:	 	/s/ Ryan Ashton
	  
	 	Nancy Eggan	 		 	  
	 	Ryan Ashton
	TITLE:	 	Sr. Vice President	 		 	TITLE:	 	President

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