Document:

Exhibit 10.1

 

OFFICE LEASE

 

This Office Lease (this
“Lease”), dated as of the date set forth in Section 1.1, is made by and between HUDSON SKYWAY
LANDING, LLC, a Delaware limited liability company (“Landlord”), and IOVANCE BIOTHERAPEUTICS, INC., a
Delaware corporation (“Tenant”). The following exhibits are incorporated herein and made a part hereof:
Exhibit A (Outline of Premises); Exhibit B (Landlord Work Letter); Exhibit B-1
(Work Letter); Exhibit B-2 (Suite 100 & 125 Demising Pricing Plan); Exhibit B-3 (Equipment
Removal Plan); Exhibit B-4 (Potential Space Plan); Exhibit C (Form of Confirmation Letter);
Exhibit D (Rules and Regulations); Exhibit E (Judicial Reference); Exhibit F
(Additional Provisions); and Exhibit G (Outline of Potential Offering Spaces).

 

		1	BASIC LEASE INFORMATION.

 

	1.1	Date:	 	October 19, 2018
	 	 	 	 
	1.2	Premises.	 	 
	 	 	 	 
	 	1.2.1	“Building”:	999 Skyway Road, San Carlos, California, commonly known as Skyway Landing II.
	 	 	 	 
	 	1.2.2	“Premises”:	12,322 rentable square feet of space located on the first floor of the Building and commonly known as Suite 125, the outline and location of which is set forth in Exhibit A.
	 	 	 	 
	 	1.2.3	“Property”:	The Building, the parcel(s) of land upon which it is located, and any parking facilities and other improvements serving the Building and the parcel(s) of land upon which such parking facilities and other improvements are located.
	 	 	 	 
	 	1.2.4	“Project”:	The Property and, at Landlord’s discretion, any other land, buildings or other improvements located at 959 Skyway Road, San Carlos, California.
	 	 	 	 
	1.3	Term	 	 
	 	 	 	 
	 	1.3.1	Term:	The term of this Lease (the “Term”) shall begin on the Commencement Date and expire on the Expiration Date (or any earlier date on which this Lease is terminated as provided herein).
	 	 	 	 
	 	1.3.2	“Commencement Date”:	The earlier of (i) the first date on which Tenant conducts business in the Premises pursuant to this Lease, or (ii) November 1, 2018; provided, however, that if Landlord fails to deliver the Premises to Tenant pursuant to this Lease on or before the date described in the preceding clause (ii) as a result of any holdover or unlawful possession by another party, the Commencement Date shall be the date on which Landlord delivers possession of the Premises to Tenant pursuant to this Lease free from occupancy by any party.
	 	 	 	 
	 	 	 	Notwithstanding any contrary provision hereof, if the Commencement Date does not occur on or before the Outside Commencement Date (defined below), Tenant, as its sole remedy, shall be entitled to an abatement of Base Rent, beginning on the date that Base Rent otherwise first becomes payable hereunder, in the amount of $1,955.09 for each day in the period beginning on the Outside Commencement Date and ending on the date immediately preceding the Commencement Date. As used herein, “Outside Commencement Date” means February 1, 2019.

 

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	 	1.3.3	“Expiration Date”:	The last day of the 30th full calendar month beginning on the Commencement Date; provided, however, that if the Commencement Date is not the first day of a month, then the Expiration Date shall be the last day of the 30th full calendar month beginning immediately after the Commencement Date.

 

	1.4	“Base Rent”:

 

	Period During
 Term	 	Annual Base Rent
 Per Rentable
 Square Foot
 (rounded to the
 nearest 100th of a
 dollar)	 	 	Monthly Base
 Rent Per Rentable
 Square Foot
 (rounded to the
 nearest 100th of a
 dollar)	 	 	Monthly
 Installment
 of Base Rent	 
	Commencement Date through last day of 12th full calendar month of Term	 	$	57.12	 	 	$	4.76	 	 	$	58,652.72	 
	13th through 24th full calendar months of Term	 	$	58.83	 	 	$	4.90	 	 	$	60,412.30	 
	25th full calendar month of Term through Expiration Date	 	$	60.60	 	 	$	5.05	 	 	$	62,224.67	 

 

Notwithstanding the foregoing,
Base Rent shall be abated, in the amount of $58,652.72 per month, for the first two (2) full calendar months of the Term; provided,
however, that if a Default (defined in Section 19.1) exists when any such abatement would otherwise apply, such
abatement shall be deferred until the date, if any, on which such Default is cured.

 

	1.5	“Base Year” for Expenses:	Calendar year 2019.
	 	 	 
	 	“Base Year” for Taxes:	Calendar year 2019.
	 	 	 
	1.6	“Tenant’s Share”:	10.3987% (based upon a total of 118,496 rentable square feet in the Building).
	 	 	 
	1.7	“Permitted Use”:	General office use consistent with a first-class office building.
	 	 	 
	1.8.	“Security Deposit”:	$99,298.24, as more particularly described in Section 21.
	 	 	 
	 	Prepaid Base Rent:	$58,652.72, as more particularly described in Section 3.
	 	 	 
	1.9	Parking:	40 unreserved parking spaces, at the rate of $00.00 per space per month throughout the Term.
	 	 	 
	1.10	Address of Tenant:	Before the Commencement Date:
	 	 	 
	 	 	Iovance Biotherapeutics, Inc.
	 	 	999 Skyway Road, Suite 150
	 	 	San Carlos, California
	 	 	 
	 	 	From and after the Commencement Date:
	 	 	 
	 	 	Iovance Biotherapeutics, Inc.
	 	 	999 Skyway Road, Suite 150
	 	 	San Carlos, California

 

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	1.11	Address of Landlord:	
        Hudson Skyway Landing, LLC

        c/o Hudson Pacific Properties

	 	 	950 Tower Lane, Suite 1800
	 	 	Foster City, California 94404
	 	 	Attn: Building manager
	 	 	 
	 	 	with copies to:
	 	 	 
	 	 	
        Hudson Skyway Landing, LLC

        c/o Hudson Pacific Properties

	 	 	950 Tower Lane, Suite 1800
	 	 	Foster City, California 94404
	 	 	Attn: Managing Counsel
	 	 	 
	 	 	and
	 	 	 
	 	 	
        Hudson Skyway Landing, LLC

        c/o Hudson Pacific Properties

	 	 	11601 Wilshire Boulevard, Suite 900
	 	 	Los Angeles, California 90025
	 	 	Attn: Lease Administration
	 	 	 
	1.12	Broker(s):	Cushman & Wakefield (“Tenant’s Broker”), representing Tenant, and N/A (“Landlord’s Broker”), representing Landlord.
	 	 	 
	1.13	Building HVAC Hours and Holidays:	“Building HVAC Hours” means 8:00 a.m. to 6:00 p.m., Monday through Friday, excluding the day of observation of New Year’s Day, Presidents Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Christmas Day, and, at Landlord’s discretion, any other locally or nationally recognized holiday that is observed by other Comparable Buildings (defined in Section 25.10) (collectively, “Holidays”).
	 	 	 
	1.14	“Tenant Improvements”:	Defined in Exhibit B and/or Exhibit B-1, as applicable.
	 	 	 
	1.15	“Guarantor”:	None.

 

		2	PREMISES AND COMMON AREAS.

 

 2.1   The Premises.

 

2.1.1       Subject
to the terms hereof, Landlord hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. Landlord
and Tenant acknowledge that the rentable square footage of the Premises is as set forth in Section 1.2.2 and the rentable
square footage of the Building is as set forth in Section 1.6. Within a reasonable time after the Commencement Date,
Landlord may deliver to Tenant a notice in the form of Exhibit C, as a confirmation
of the information set forth therein. Tenant shall execute and return (or, by notice to Landlord, reasonably object to) such notice
within 10 business days after receiving it.

 

2.1.2       Except
as expressly provided herein (including, without limitation, Exhibit B and Exhibit
B-1 hereto), the Premises are accepted by Tenant in their configuration and condition existing
on the date hereof (or in such other configuration and condition as any existing tenant of the Premises may cause to exist in accordance
with its lease), without any obligation of Landlord to perform or pay for any alterations to the Premises, and without any representation
or warranty regarding the configuration or condition of the Premises, the Building or the Project or their suitability for Tenant’s
business. Landlord shall deliver the Premises to Tenant with the floors cleared of trash and swept. Nothing in this Section
2.1.2 shall limit Landlord’s obligations under Sections 5 and 7.1.

 

2.2         Common
Areas. Tenant may use, in common with Landlord and other parties and subject to the Rules
and Regulations (defined in Exhibit D), any portions of the Property (such
as loading docks, walkways, sidewalks, driveways, parking facilities, lobbies, atriums, landscaped areas, public corridors, public
restrooms, stairs, elevators and drinking fountains) that are designated from time to time by Landlord for such use (the “Common
Areas”).

 

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3      RENT.
Tenant shall pay all Base Rent and Additional Rent (defined below) (collectively, “Rent”)
to Landlord or Landlord’s agent, without prior notice or demand or any setoff or deduction, at the place Landlord may designate
from time to time, in money of the United States of America that, at the time of payment, is legal tender for the payment of all
obligations. As used herein, “Additional Rent” means all amounts, other than
Base Rent, that Tenant is required to pay Landlord hereunder. Monthly payments of Base Rent and monthly payments of Additional
Rent for Expenses (defined in Section 4.2.2), Taxes (defined in Section 4.2.3) and parking (collectively,
“Monthly Rent”) shall be paid in advance on or before the first day of each
calendar month during the Term; provided, however, that the installment of Base Rent for the first full calendar month for which
Base Rent is payable hereunder shall be paid upon Tenant’s execution and delivery hereof. Except as otherwise provided herein,
all other items of Additional Rent shall be paid within 30 days after Tenant’s receipt of Landlord’s written request
for payment. Rent for any partial calendar month shall be prorated based on the actual number of days in such month. Without limiting
Landlord’s other rights or remedies, (a) if any installment of Rent is not received by Landlord or its designee within
five (5) business days after its due date, Tenant shall pay Landlord a late charge equal to 5% of the overdue amount
(provided, however, that such late charge shall not apply to any such delinquency unless either (i) such delinquency is not cured
within five (5) business days after notice from Landlord, or (ii) Tenant previously received notice from Landlord of a delinquency
that occurred earlier in the same calendar year); and (b) any Rent that is not paid within 10 days after its due date
shall bear interest, from its due date until paid, at the lesser of 12% per annum or the highest rate permitted by Law (defined
in Section 5). Tenant’s covenant to pay Rent is independent of every other covenant herein. 

 

		4	EXPENSES AND TAXES.

 

4.1   General
Terms. In addition to Base Rent, Tenant shall pay, in accordance with Section 4.4,
for each Expense Year (defined in Section 4.2.1), an amount equal to the sum of (a) Tenant’s Share of any
amount (the “Expense Excess”) by which Expenses for such Expense Year exceed
Expenses for the Base Year, plus (b) Tenant’s Share of any amount (the “Tax Excess”)
by which Taxes for such Expense Year exceed Taxes for the Base Year. No decrease in Expenses or Taxes for any Expense Year below
the corresponding amount for the Base Year shall entitle Tenant to any decrease in Base Rent or any credit against amounts due
hereunder. Tenant’s Share of the Expense Excess and Tenant’s Share of the Tax Excess for any partial Expense Year shall
be prorated based on the number of days in such Expense Year.

 

4.2   Definitions.
As used herein, the following terms have the following meanings:

 

4.2.1       “Expense
Year” means each calendar year (other than the Base Year and any preceding calendar year)
in which any portion of the Term occurs.

 

4.2.2       “Expenses”
means all expenses, costs and amounts that Landlord pays or accrues during the Base Year or any Expense Year because of or in connection
with the ownership, management, maintenance, security, repair, replacement, restoration or operation of the Property. Landlord
shall act in a reasonable manner in incurring Expenses. Expenses shall include (i) the cost of supplying all utilities, the
cost of operating, repairing, maintaining and renovating the utility, telephone, mechanical, sanitary, storm-drainage, and elevator
systems, and the cost of maintenance and service contracts in connection therewith; (ii) the cost of licenses, certificates,
permits and inspections, the cost of contesting any Laws that may affect Expenses, and the costs of complying with any governmentally-mandated
transportation-management or similar program; (iii) the cost of all insurance premiums and deductibles; (iv) the cost
of landscaping and relamping; (v) the cost of parking-area operation, repair, restoration, and maintenance; (vi) a management
fee in the amount (which fee may be imputed if Landlord has internalized management or otherwise acts as its own property manager
and which fee is hereby acknowledged to be reasonable) of 3% of gross annual receipts from the Property (excluding the management
fee), together with other fees and costs, including consulting fees, legal fees and accounting fees, of all contractors and consultants
in connection with the management, operation, maintenance and repair of the Property; (vii) the fair rental value of any management
office space; (viii) wages, salaries and other compensation, expenses and benefits, including taxes levied thereon, of all
persons engaged in the operation, maintenance and security of the Property; (ix) the costs of operation, repair, maintenance
and replacement of all systems and equipment (and components thereof) of the Property; (x) the cost of janitorial, alarm,
security and other services, replacement of wall and floor coverings, ceiling tiles and fixtures in Common Areas, maintenance and
replacement of curbs and walkways, repair to roofs and re-roofing; (xi) rental or acquisition costs of supplies, tools, equipment,
materials and personal property used in the maintenance, operation and repair of the Property; (xii) the cost of capital improvements
or any other items that are (A) intended to reduce current or future Expenses (but only to the extent of the savings that
Landlord reasonably projects will be achieved during the applicable period) or enhance the safety or security of the Property or
its occupants, (B) replacements or modifications of the nonstructural portions of the Base Building (defined in Section 5)
or Common Areas that are required to keep the Base Building or Common Areas in good condition, or (C) required under any Law
(except to the extent that such Law was in effect and required the installation of such capital improvements or other items before
the Commencement Date hereof); (xiii) intentionally omitted; and (xiv) payments under any existing or future reciprocal
easement agreement, transportation management agreement, cost-sharing agreement or other covenant, condition, restriction or similar
instrument affecting the Property.

 

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Notwithstanding the
foregoing, Expenses shall not include: (a) capital expenditures not described in clauses (xi) or (xii) above (in addition,
any capital expenditure shall be included in Expenses only if paid or accrued after the Base Year and shall be amortized (including
actual or imputed interest on the amortized cost) over the lesser of (i) the useful life of the item purchased through such capital
expenditure, as reasonably determined by Landlord, or (ii) the period of time that Landlord reasonably estimates will be required
for any Expense savings resulting from such capital expenditure to equal such capital expenditure; provided, however, that any
capital expenditure that is included in Expenses solely on the grounds that it is intended to reduce current or future Expenses
shall be so amortized over the period of time described in the preceding clause (ii)); (b) depreciation; (c) principal
and interest payments of mortgage or other non-operating debts of Landlord; (d) costs of repairs to the extent Landlord is
reimbursed by insurance or condemnation proceeds; (e) costs of leasing space in the Building, including brokerage commissions,
lease concessions, rental abatements and construction allowances granted to specific tenants; (f) costs of selling, financing
or refinancing the Building; (g) fines, penalties or interest resulting from late payment of Taxes or Expenses; (h) organizational
expenses of creating or operating the entity that constitutes Landlord; (i) damages paid to Tenant hereunder or to other tenants
of the Building under their respective leases; (j) amounts (other than management fees) paid to Landlord’s affiliates for
services, but only to the extent such amounts exceed the prices charged for such services by parties having similar skill and experience;
(k) fines or penalties resulting from any violations of Law, negligence or willful misconduct of Landlord or its employees, agents
or contractors; (l) advertising and promotional expenses; (m) Landlord’s charitable and political contributions; (n) ground
lease rental; (o) attorney’s fees and other expenses incurred in connection with negotiations or disputes with tenants or
other occupants of the Building; (p) costs of services or benefits made available to other tenants of the Building but not to Tenant;
(q) costs of purchasing or leasing major sculptures, paintings or other artwork (as opposed to decorations purchased or leased
by Landlord for display in the Common Areas of the Building); (r) any expense for which Landlord has received actual reimbursement
from a third party (other than from a tenant of the Building pursuant to its lease); (s) costs of curing defects in design or original
construction of the Property; (t) costs that Landlord is entitled to recover under a warranty, except to the extent it would not
be fiscally prudent to pursue legal action to recover such costs; (u) expenses (other than Parking Expenses (defined below)) of
operating any commercial concession at the Project; (v) Parking Expenses (defined below), except to the extent Parking Expenses
exceed parking revenues on an annual basis (as used herein, “Parking Expenses” means costs of operating, maintaining
and repairing the Parking Facility, including costs of parking equipment, tickets, supplies, signs, cleaning, resurfacing, restriping,
parking-garage management fees, and the wages, salaries, employee benefits and taxes for individuals working exclusively in the
Parking Facility; provided, however, that Parking Expenses shall exclude (i) capital expenses, and (ii) costs of electricity, janitorial
service, elevator maintenance and insurance); (w) reserves; (x) bad debt expenses; (y) costs of cleaning up Hazardous Materials,
except for routine cleanup performed as part of the ordinary operation and maintenance of the Property (as used herein, “Hazardous
Materials” means any material now or hereafter defined or regulated by any Law or governmental authority as radioactive,
toxic, hazardous, or waste, or a chemical known to the state of California to cause cancer or reproductive toxicity, including
(1) petroleum and any of its constituents or byproducts, (2) radioactive materials, (3) asbestos in any form or condition, and
(4) materials regulated by any of the following, as amended from time to time, and any rules promulgated thereunder: the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. §§9601 et seq.; the Resource Conservation and
Recovery Act, 42 U.S.C. §§6901, et seq.; the Toxic Substances Control Act, 15 U.S.C. §§2601, et seq.; the Clean
Water Act, 33 U.S.C. §§1251 et seq; the Clean Air Act, 42 U.S.C. §§7401 et seq.; The California Health and
Safety Code; The California Water Code; The California Labor Code; The California Public Resources Code; and The California Fish
and Game Code.); or (z) wages, salaries, fees or fringe benefits (“Labor Costs”) paid to executive personnel
or officers or partners of Landlord (provided, however, that if such individuals provide services directly related to the operation,
maintenance or ownership of the Property that, if provided directly by a general manager or property manager or his or her general
support staff, would normally be chargeable as an operating expense of a comparable office building, then the Labor Costs of such
individuals may be included in Expenses to the extent of the percentage of their time that is spent providing such services to
the Property).

 

If, during any portion
of the Base Year or any Expense Year, the Building is not 100% occupied (or a service provided by Landlord to Tenant is not provided
by Landlord to a tenant that provides such service itself, or any tenant of the Building is entitled to free rent, rent abatement
or the like), Expenses for such year shall be determined as if the Building had been 100% occupied (and all services provided by
Landlord to Tenant had been provided by Landlord to all tenants, and no tenant of the Building had been entitled to free rent,
rent abatement or the like) during such portion of such year. Notwithstanding any contrary provision hereof, Expenses for the Base
Year shall exclude (a) any market-wide cost increases resulting from extraordinary circumstances, including Force Majeure
(defined in Section 25.2), boycotts, strikes, conservation surcharges, embargoes or shortages, and (b) at Landlord’s
option, the cost of any repair or replacement that Landlord reasonably expects will not recur on an annual or more frequent basis.
Landlord shall keep its books and records relating to Expenses in accordance with generally accepted accounting principles, consistently
applied.

 

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4.2.3       “Taxes”
means all federal, state, county or local governmental or municipal taxes, fees, charges, assessments, levies, licenses or other
impositions, whether general, special, ordinary or extraordinary, that are paid or accrued during the Base Year or any Expense
Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection
with the ownership, leasing or operation of the Property. Taxes shall include (a) real estate taxes; (b) general and
special assessments; (c) transit taxes; (d) leasehold taxes; (e) personal property taxes imposed upon the fixtures,
machinery, equipment, apparatus, systems, appurtenances, furniture and other personal property used in connection with the Property;
(f) any tax on the rent, right to rent or other receipts from any portion of the Property or as against the business of leasing
any portion of the Property; (g) any assessment, tax, fee, levy or charge imposed by any governmental agency, or by any non-governmental
entity pursuant to any private cost-sharing agreement, in order to fund the provision or enhancement of any fire-protection, street-,
sidewalk- or road-maintenance, refuse-removal or other service that is (or, before the enactment of Proposition 13, was) normally
provided by governmental agencies to property owners or occupants without charge (other than through real property taxes); and
(h) payments in lieu of taxes under any tax increment financing agreement, abatement agreement, agreement to construct improvements,
or other agreement with any governmental body or agency or taxing authority. Any costs and expenses (including reasonable attorneys’
and consultants’ fees) incurred in attempting to protest, reduce or minimize Taxes shall be included in Taxes for the year
in which they are incurred. Notwithstanding any contrary provision hereof, Taxes shall be determined without regard to any “green
building” credit and shall exclude (i) all excess profits taxes, franchise taxes, gift taxes, capital stock taxes, inheritance
and succession taxes, transfer taxes, estate taxes, federal and state income taxes, and other taxes to the extent (x) applicable
to Landlord’s general or net income (as opposed to rents or receipts attributable to operations at the Property), or (y) measured
solely by the square footage, rent, fees, services, tenant allowances or similar amounts, rights or obligations described or provided
in or under any particular lease, license or similar agreement or transaction at the Building; (ii) any Expenses, and (iii) any
items required to be paid or reimbursed by Tenant under Section 4.5.

 

4.3   Allocation.
Landlord, in its reasonable discretion, shall equitably allocate Expenses among office, retail
or other portions or occupants of the Property. If Landlord incurs Expenses or Taxes for the Property together with another property,
Landlord, in its reasonable discretion, shall equitably allocate such shared amounts between the Property and such other property.

 

4.4   Calculation
and Payment of Expense Excess and Tax Excess.

 

4.4.1       Statement
of Actual Expenses and Taxes; Payment by Tenant. Landlord shall give to Tenant, after the end
of each Expense Year, a statement (the “Statement”) setting forth the actual
Expenses, Taxes, Expense Excess and Tax Excess for such Expense Year. If the amount paid by Tenant for such Expense Year pursuant
to Section 4.4.2 is less or more than the sum of Tenant’s Share of the actual Expense Excess plus Tenant’s
Share of the actual Tax Excess (as such amounts are set forth in such Statement), Tenant shall pay Landlord the amount of such
underpayment, or receive a credit in the amount of such overpayment, with or against the Rent then or next due hereunder; provided,
however, that if this Lease has expired or terminated and Tenant has vacated the Premises, Tenant shall pay Landlord the amount
of such underpayment, or Landlord shall pay Tenant the amount of such overpayment (less any Rent due), within 30 days after
delivery of such Statement. Landlord shall use reasonable efforts to deliver the Statement on or before June 1 of the calendar
year immediately following the Expense Year to which it applies. Any failure of Landlord to timely deliver the Statement for any
Expense Year shall not diminish either party’s rights under this Section 4. Notwithstanding the foregoing, if Landlord
fails to furnish a Statement by April 30 of the second (2nd) calendar year following the Expense Year to which such Statement applies,
Tenant shall not be required to pay Landlord any underpayment for such Expense Year, except as provided in Section 4.4.3.

 

4.4.2       Statement
of Estimated Expenses and Taxes. Landlord shall give to Tenant, for each Expense Year, a statement
(the “Estimate Statement”) setting forth Landlord’s reasonable estimates
of the Expenses, Taxes, Expense Excess (the “Estimated Expense Excess”) and
Tax Excess (the “Estimated Tax Excess”) for such Expense Year. Upon receiving
an Estimate Statement, Tenant shall pay, with its next installment of Base Rent coming due at least 30 days after such receipt,
an amount equal to the excess of (a) the amount obtained by multiplying (i) the sum of Tenant’s Share of the Estimated
Expense Excess plus Tenant’s Share of the Estimated Tax Excess (as such amounts are set forth in such Estimate Statement),
by (ii) a fraction, the numerator of which is the number of months that have elapsed in the applicable Expense Year (including
the month of such payment) and the denominator of which is 12, over (b) any amount previously paid by Tenant for such Expense
Year pursuant to this Section 4.4.2. Until Landlord delivers a new Estimate Statement (which Landlord may do at any
time), Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of the sum of Tenant’s
Share of the Estimated Expense Excess plus Tenant’s Share of the Estimated Tax Excess, as such amounts are set forth in the
previous Estimate Statement. Any failure of Landlord to timely deliver any Estimate Statement shall not diminish Landlord’s
rights to receive payments and revise any previous Estimate Statement under this Section 4.

 

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4.4.3       Retroactive
Adjustment of Taxes. Notwithstanding any contrary provision hereof, if, after Landlord’s
delivery of any Statement, an increase or decrease in Taxes occurs for the applicable Expense Year or for the Base Year (whether
by reason of reassessment, error, or otherwise), Taxes for such Expense Year or the Base Year, as the case may be, and the Tax
Excess for such Expense Year shall be retroactively adjusted. If, as a result of such adjustment, it is determined that Tenant
has under- or overpaid Tenant’s Share of such Tax Excess, Tenant shall pay Landlord the amount of such underpayment, or receive
a credit in the amount of such overpayment, with or against the Rent next coming due hereunder at least 30 days after Tenant’s
receipt of notice of such adjustment; provided, however, that if this Lease has expired or terminated and Tenant has vacated the
Premises, Tenant shall pay Landlord the amount of such underpayment, or Landlord shall pay Tenant the amount of such overpayment
(less any Rent due), within 30 days after such adjustment is made.

 

4.5   Charges
for Which Tenant Is Directly Responsible. Notwithstanding any contrary provision hereof,
Tenant, promptly upon demand, shall pay (or if paid by Landlord, reimburse Landlord for) each of the following to the extent levied
against Landlord or Landlord’s property: (a) any tax based upon or measured by (i) the cost or value of Tenant’s
trade fixtures, equipment, furniture or other personal property, or (ii) the cost or value of the Leasehold Improvements (defined
in Section 7.1) to the extent such cost or value exceeds that of a Building-standard build-out, as determined by Landlord;
(b) any rent tax, sales tax, service tax, transfer tax, value added tax, use tax, business tax, gross income tax, gross receipts
tax, or other tax, assessment, fee, levy or charge measured solely by the square footage, Rent, services, tenant allowances or
similar amounts, rights or obligations described or provided in or under this Lease; (c) any tax assessed upon the possession,
leasing, operation, management, maintenance, alteration, repair, use or occupancy by Tenant of any portion of the Property; and
(d) any tax assessed on this transaction or on any document to which Tenant is a party that creates an interest or estate
in the Premises.

 

4.6   Books
and Records. Within 90 days after receiving any Statement (the “Review
Notice Period”), Tenant may give Landlord notice (“Review Notice”)
stating that Tenant elects to review Landlord’s calculation of the Expense Excess and/or Tax Excess for the Expense Year
to which such Statement applies and identifying with reasonable specificity the records of Landlord reasonably relating to such
matters that Tenant desires to review. Within 60 days after receiving a timely Review Notice (and, at Landlord’s option,
an executed confidentiality agreement as described below), Landlord shall deliver to Tenant, or make available for inspection at
a location reasonably designated by Landlord, copies of such records. Within 90 days after such records are made available to Tenant
(the “Objection Period”), Tenant may deliver to Landlord notice (an “Objection
Notice”) stating with reasonable specificity any objections to the Statement, in which
event Landlord and Tenant shall work together in good faith to resolve Tenant’s objections. Tenant may not deliver more than
one Review Notice or more than one Objection Notice with respect to any Statement. If Tenant fails to give Landlord a Review Notice
before the expiration of the Review Notice Period or fails to give Landlord an Objection Notice before the expiration of the Objection
Period, Tenant shall be deemed to have approved the Statement. Notwithstanding any contrary provision hereof, Landlord shall not
be required to deliver or make available to Tenant records relating to the Base Year, and Tenant may not object to Expenses or
Taxes for the Base Year, other than in connection with the first review for an Expense Year performed by Tenant pursuant to this
Section 4.6. If Tenant retains an agent to review Landlord’s records, the agent must be with a CPA firm licensed
to do business in the State of California with experience reviewing books and records kept for Comparable Buildings and its fees
shall not be contingent, in whole or in part, upon the outcome of the review. Tenant shall be responsible for all costs of such
review; provided, however, that if Landlord and Tenant determine that the sum of Expenses and Taxes for the Expense Year in question
was overstated by more than 5%, Landlord, within 30 days after receiving paid invoices therefor from Tenant, shall reimburse
Tenant for the reasonable amounts paid by Tenant to third parties in connection with such review (not to exceed $5,000.00). The
records and any related information obtained from Landlord shall be treated as confidential, and as applicable only to the Premises,
by Tenant, its auditors, consultants, and any other parties reviewing the same on behalf of Tenant (collectively, “Tenant’s
Auditors”). Before making any records available for review, Landlord may require Tenant
and Tenant’s Auditors to execute a reasonable confidentiality agreement, in which event Tenant shall cause the same to be
executed and delivered to Landlord within 30 days after receiving it from Landlord, and if Tenant fails to do so, the Objection
Period shall be reduced by one day for each day by which such execution and delivery follows the expiration of such 30-day period.
Notwithstanding any contrary provision hereof, Tenant may not examine Landlord’s records or dispute any Statement if any
Rent remains unpaid past its due date. If, for any Expense Year, Landlord and Tenant determine that the sum of Tenant’s Share
of the actual Expense Excess plus Tenant’s Share of the actual Tax Excess is less or more than the amount reported, Tenant
shall receive a credit in the amount of its overpayment, or pay Landlord the amount of its underpayment, against or with the Rent
next due hereunder; provided, however, that if this Lease has expired or terminated and Tenant has vacated the Premises, Landlord
shall pay Tenant the amount of its overpayment (less any Rent due), or Tenant shall pay Landlord the amount of its underpayment,
within 30 days after such determination.

 

    	 	7	 

     

    

 

		5	USE; COMPLIANCE WITH LAWS.

 

5.1   Tenant
shall not (a) use the Premises for any purpose other than the Permitted Use, or (b) do anything in or about the Premises
that violates any of the Rules and Regulations, damages the reputation of the Project, interferes with, injures or annoys other
occupants of the Project, or constitutes a nuisance. Tenant, at its expense, shall comply with all Laws relating to (i) the
operation of its business at the Project, (ii) the use, occupancy and, other than with respect to elements of the Base Building,
the condition and configuration of the Premises, or (iii) any Supplemental Systems (defined below) serving the Premises, whether
located inside or outside of the Premises. If, in order to comply with any such Law, Tenant must obtain or deliver any permit,
certificate or other document evidencing such compliance, Tenant shall provide a copy of such document to Landlord promptly after
obtaining or delivering it. If a change to any Common Area or the Base Building becomes required under Law (or if any such requirement
is enforced) as a result of any Tenant-Insured Improvement (defined in Section 10.2.2) that is not of a type customarily
required for general office use, any trade fixture that is not of a type customarily required for general office use or because
any use of the Premises that is not general office use, then Tenant, upon demand, shall (x) at Landlord’s option, either
make such change at Tenant’s cost or pay Landlord the cost of making such change, and (y) pay Landlord a coordination
fee equal to 5% of the cost of such change. As used herein, “Law” means any
existing or future law, ordinance, regulation or requirement of any governmental authority having jurisdiction over the Project
or the parties. As used herein, “Supplemental System” means any Unit (defined
in Section 25.5), supplemental fire-suppression system, kitchen (including any hot water heater, dishwasher, garbage
disposal, insta-hot dispenser, or plumbing), shower or similar facility, or any other system that would not customarily be considered
part of the base building of a first-class multi-tenant office building. As used herein, “Base Building System”
means any mechanical (including HVAC), electrical, plumbing or fire/life-safety system serving the Building, other than a Supplemental
System. As used herein, “Base Building” means the structural portions of the
Building, together with the Base Building Systems.

 

5.2   Landlord,
at its expense (subject to Section 4), shall cause the Base Building and the Common Areas to comply with all Laws (including
the Americans with Disabilities Act (“ADA”)) to the extent that (a) such
compliance is necessary for Tenant to use the Premises for general office use in a normal and customary manner and for Tenant’s
employees and visitors to have reasonably safe access to and from the Premises, or (b) Landlord’s failure to cause such
compliance would impose liability upon Tenant under Law; provided, however, that Landlord shall not be required to cause or pay
for such compliance to the extent that (x) Tenant is required to cause or pay for such compliance under Section 5.1
or 7.3 or any other provision hereof, or (y) non-compliance arises under any provision of the ADA other than Title III
thereof. Notwithstanding the foregoing, Landlord may contest any alleged violation in good faith, including by applying for and
obtaining a waiver or deferment of compliance, asserting any defense allowed by Law, and appealing any order or judgment to the
extent permitted by Law; provided, however, that (i) no cost or liability shall be imposed upon Tenant as a result of such
contest, and (ii) after exhausting any rights to contest or appeal, Landlord shall perform any work necessary to comply with any
final order or judgment.

 

		6	SERVICES.

 

6.1   Standard
Services. Landlord shall provide the following services on all days (unless otherwise stated
below): (a) subject to limitations imposed by Law, customary heating, ventilation and air conditioning (“HVAC”)
in season during Building HVAC Hours, stubbed to the Premises; (b) electricity supplied by the applicable public utility,
stubbed to the Premises; (c) water supplied by the applicable public utility (i) for use in lavatories and any drinking
facilities located in Common Areas within the Building, and (ii) stubbed to the Building core for use in any plumbing fixtures
located in the Premises; (d) janitorial services to the Premises, except on weekends and Holidays; and (e) elevator service
(subject to scheduling by Landlord, and payment of Landlord’s standard usage fee, for any freight service).

 

6.2   Above-Standard
Use. Landlord shall provide HVAC service outside Building HVAC Hours if Tenant gives Landlord
such prior notice and pays Landlord such hourly cost per zone as Landlord may require. Tenant shall not, without Landlord’s
prior consent, use equipment that may affect the temperature maintained by the air conditioning system or consume above-Building-standard
amounts of any water furnished for the Premises by Landlord pursuant to Section 6.1. If Tenant’s consumption
of electricity or water exceeds the rate Landlord reasonably deems to be standard for the Building, Tenant shall pay Landlord,
upon billing, the cost of such excess consumption, including any costs of installing, operating and maintaining any equipment that
is installed in order to supply or measure such excess electricity or water. For purposes of the preceding sentence, any consumption
of electricity in a computer server room shall be deemed to exceed the standard rate for the Building. The connected electrical
load of Tenant’s incidental-use equipment shall not exceed the Building-standard electrical design load, and Tenant’s
electrical usage shall not exceed the capacity of the feeders to the Project or the risers or wiring installation. 

 

    	 	8	 

     

    

 

6.3    Interruption.
Subject to Section 11, any failure to furnish, delay in furnishing, or diminution
in the quality or quantity of any service resulting from any application of Law, failure of equipment, performance of maintenance,
repairs, improvements or alterations, utility interruption, or event of Force Majeure (each, a “Service Interruption”)
shall not render Landlord liable to Tenant, constitute a constructive eviction, or excuse Tenant from any obligation hereunder.
Notwithstanding the foregoing, if all or a material portion of the Premises is made untenantable or inaccessible for more than
three (3) consecutive business days after notice from Tenant to Landlord by a Service Interruption that (a) does not
result from a Casualty (defined in Section 11), a Taking (defined in Section 13) or an Act of Tenant (defined
in Section 10.1), and (b) can be corrected through Landlord’s reasonable efforts, then, as Tenant’s
sole remedy, Monthly Rent shall abate for the period beginning on the day immediately following such 3-business-day period and
ending on the day such Service Interruption ends, but only in proportion to the percentage of the rentable square footage of the
Premises made untenantable or inaccessible and not occupied by Tenant.

 

		7	REPAIRS AND ALTERATIONS.

 

7.1   Repairs.
Subject to Section 11, Tenant, at its expense, shall perform all maintenance and
repairs (including replacements) to the Premises, and keep the Premises (excluding any structural components not installed by Tenant)
in as good condition and repair as existed when Tenant took possession and as thereafter improved, except for reasonable wear and
tear and repairs that are Landlord’s express responsibility hereunder. Tenant’s maintenance and repair obligations
shall include (a) all leasehold improvements in the Premises, including any Tenant Improvements, any Alterations (defined
in Section 7.2), and any leasehold improvements installed pursuant to any prior lease (the “Leasehold
Improvements”), but excluding the Base Building; (b) any Supplemental Systems serving
the Premises, whether located inside or outside of the Premises; and (c) all Lines (defined in Section 23) and
trade fixtures. Notwithstanding the foregoing, if a Default (defined in Section 19.1) or an emergency exists, Landlord
may, at its option, perform such maintenance and repairs on Tenant’s behalf, in which case Tenant shall pay Landlord, upon
demand, the cost of such work plus a coordination fee equal to 5% of such cost. Landlord shall perform all maintenance and repairs
(including replacements) to, and keep in good condition and repair, (i) the roof and exterior walls and windows of the Building
(so that such components of the Building remain water-tight), (ii) the Base Building, and (iii) the Common Areas.

 

7.2   Alterations.
Tenant may not make any improvement, alteration, addition or change to the Premises or to any
mechanical, plumbing or HVAC facility or other system serving the Premises (an “Alteration”)
without Landlord’s prior consent, which consent shall be requested by Tenant not less than 10 days before commencement
of work and shall not be unreasonably withheld by Landlord. Notwithstanding the foregoing, provided that Landlord receives 10 days’
prior notice, Landlord’s prior consent shall not be required for any Alteration that (i) is reasonably estimated (together
with any other Alterations performed without Landlord’s consent pursuant to this sentence during the 12-month period ending
on the date of such notice) to cost less than $25,000.00; (ii) is not visible from outside the Premises; (iii) does not affect
any system or structural component of the Building; and (iv) does not require work to be performed inside the walls or above the
ceiling of the Premises. For any Alteration, (a) Tenant, before beginning work, shall deliver to Landlord, and obtain Landlord’s
approval of, plans and specifications; (b) Landlord, in its discretion, may require Tenant to obtain security for performance
satisfactory to Landlord; (c) Tenant shall deliver to Landlord “as built” drawings (in CAD format, if requested
by Landlord), completion affidavits, full and final lien waivers, and all governmental approvals; and (d) Tenant shall pay
Landlord upon demand (i) Landlord’s reasonable out-of-pocket expenses incurred in reviewing the work, and (ii) a
coordination fee equal to 5% of the cost of the work; provided, however, that this clause (d) shall not apply to any Tenant
Improvements.

 

7.3   Tenant
Work. Before beginning any repair or Alteration or any work affecting Lines (collectively,
“Tenant Work”), Tenant shall deliver to Landlord, and obtain Landlord’s
approval of, (a) names of contractors, subcontractors, mechanics, laborers and materialmen; (b) evidence of contractors’
and subcontractors’ insurance in amounts and coverages as Landlord may reasonably require; and (c) any required governmental
permits. Tenant shall perform all Tenant Work (i) in a good and workmanlike manner using materials of a quality reasonably
approved by Landlord; (ii) in compliance with any approved plans and specifications, all Laws, the National Electric Code,
and Landlord’s construction rules and regulations; and (iii) in a manner that does not impair the Base Building. If,
as a result of any Tenant Work, Landlord becomes required under Law to perform any inspection, give any notice, or cause such Tenant
Work to be performed in any particular manner, Tenant shall comply with such requirement and promptly provide Landlord with reasonable
documentation of such compliance. Landlord’s approval of Tenant’s plans and specifications shall not relieve Tenant
from any obligation under this Section 7.3. In performing any Tenant Work, Tenant shall not use contractors, services,
labor, materials or equipment that, in Landlord’s reasonable judgment, would disturb labor harmony with any workforce or
trades engaged in performing other work or services at the Project.

 

    	 	9	 

     

    

 

8      LANDLORD’S
PROPERTY. All Leasehold Improvements shall become Landlord’s property upon installation
and without compensation to Tenant. Notwithstanding the foregoing, if any Tenant-Insured Improvements (other than any Unit, which
shall be governed by Section 25.5) are not, in Landlord’s reasonable judgment, Building-standard, then before
the expiration or earlier termination hereof, Tenant shall, at Landlord’s election, either (a) at Tenant’s expense,
and except as otherwise notified by Landlord, remove such Tenant-Insured Improvements (other than the Excluded Items, defined below),
repair any resulting damage to the Premises or Building, and restore the affected portion of the Premises to its configuration
and condition existing before the installation of such Tenant-Insured Improvements (or, at Landlord’s election, to a Building-standard
tenant-improved configuration and condition as determined by Landlord), or (b) pay Landlord an amount equal to the estimated
cost of such work, as reasonably determined by Landlord. If Tenant fails to timely perform any work required under clause (a)
of the preceding sentence, Landlord may perform such work at Tenant’s expense. As used herein, “Excluded Items”
means any Leasehold Improvements either (1) existing in the Premises as of the date hereof, (2) shown with reasonable specificity
on the Work List (as initially defined in Section 2.1 of Exhibit B hereto)
and/or (3) those potential Alterations (if built by Tenant pursuant to Exhibit B-1 hereto)
shown with reasonable specificity on Exhibit B-4 hereto.

 

9      LIENS.
Tenant shall keep the Project free from any lien arising out of any work performed, material
furnished or obligation incurred by or on behalf of Tenant. Tenant shall remove any such lien within 10 business days after
notice from Landlord, and if Tenant fails to do so, Landlord, without limiting its remedies, may pay the amount necessary to cause
such removal, whether or not such lien is valid. The amount so paid, together with reasonable attorneys’ fees and expenses,
shall be reimbursed by Tenant upon demand.

 

		10	INDEMNIFICATION; INSURANCE.

 

10.1 Waiver
and Indemnification. Tenant waives all claims against Landlord, its Security Holders (defined
in Section 17), Landlord’s managing agent(s), their (direct or indirect) owners, and the beneficiaries, trustees,
officers, directors, employees and agents of each of the foregoing (including Landlord, the “Landlord Parties”)
for (i) any damage to person or property (or resulting from the loss of use thereof), except to the extent such damage is
caused by any negligence, willful misconduct or breach of this Lease of or by any Landlord Party, or (ii) any failure to prevent
or control any criminal or otherwise wrongful conduct by any third party not acting as Landlord’s agent or to apprehend any
such third party who has engaged in such conduct. Tenant shall indemnify, defend, protect, and hold the Landlord Parties harmless
from any obligation, loss, claim, action, liability, penalty, damage, cost or expense (including reasonable attorneys’ and
consultants’ fees and expenses) (each, a “Claim”) that is imposed or
asserted by any third party and arises from (a) any cause in, on or about the Premises, or (b) any negligence, willful
misconduct or breach of this Lease of or by Tenant, any party claiming by, through or under Tenant, their (direct or indirect)
owners, or any of their respective beneficiaries, trustees, officers, directors, employees, agents, contractors, licensees or invitees
(each, an “Act of Tenant”), except to the extent such Claim arises from any
negligence, willful misconduct or breach of this Lease of or by any Landlord Party. Landlord shall indemnify, defend, protect,
and hold Tenant, its (direct or indirect) owners, and their respective beneficiaries, trustees, officers, directors, employees
and agents (including Tenant, the “Tenant Parties”) harmless from any Claim
that is imposed or asserted by any third party and arises from any negligence, willful misconduct or breach of this Lease of or
by any Landlord Party, except to the extent such Claim arises from any negligence, willful misconduct or breach of this Lease of
or by any Tenant Party.

 

10.2  Tenant’s
Insurance. Tenant shall maintain the following coverages in the following amounts:

 

10.2.1     Commercial
General Liability Insurance covering claims of bodily injury, personal injury and property damage arising out of Tenant’s
operations and contractual liabilities, including coverage formerly known as broad form, on an occurrence basis, with combined
primary and excess/umbrella limits of at least $3,000,000 each occurrence and $4,000,000 annual aggregate.

 

10.2.2       Property
Insurance covering (i) all office furniture, trade fixtures, office equipment, free-standing cabinet work, movable partitions,
merchandise and all other items of Tenant’s property in the Premises installed by, for, or at the expense of Tenant, and
(ii) any Leasehold Improvements installed by or for the benefit of Tenant, whether pursuant to this Lease or pursuant to
any prior lease or other agreement to which Tenant was a party (“Tenant-Insured Improvements”).
Such insurance shall be written on a special cause of loss or all risk form for physical loss or damage, for the full replacement
cost value (subject to reasonable deductible amounts) new without deduction for depreciation of the covered items and in amounts
that meet any co-insurance clauses of the policies of insurance, and shall include coverage for damage or other loss caused by
fire or other peril, including vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage,
bursting or stoppage of pipes, and explosion, and providing business interruption coverage for a period of one year.

 

10.2.3       Workers’
Compensation statutory limits and Employers’ Liability limits of $1,000,000.

 

    	 	10	 

     

    

 

10.3 Form
of Policies. The minimum limits of insurance required to be carried by Tenant shall not limit
Tenant’s liability. Such insurance shall be issued by an insurance company that has an A.M. Best rating of not less
than A-VIII. Tenant’s Commercial General Liability Insurance shall (a) name the Landlord Parties and any other party
designated by Landlord (“Additional Insured Parties”) as additional insureds;
and (b) be primary insurance as to all claims thereunder and provide that any insurance carried by Landlord is excess and
non-contributing with Tenant’s insurance. Landlord shall be designated as a loss payee with respect to Tenant’s Property
Insurance on any Tenant-Insured Improvements. Tenant shall deliver to Landlord, on or before the Commencement Date and at least
15 days before the expiration dates thereof, certificates from Tenant’s insurance company on the forms currently designated
“ACORD 25” (Certificate of Liability Insurance) and “ACORD 28” (Evidence of Commercial Property Insurance)
or the equivalent. Attached to the ACORD 25 (or equivalent) there shall be an endorsement (or an excerpt from the policy)
naming the Additional Insured Parties as additional insureds, and attached to the ACORD 28 (or equivalent) there shall be
an endorsement (or an excerpt from the policy) designating Landlord as a loss payee with respect to Tenant’s Property Insurance
on any Tenant-Insured Improvements, and each such endorsement (or policy excerpt) shall be binding on Tenant’s insurance
company.

 

10.4 Subrogation.
Notwithstanding any provision in this Lease to the contrary (but subject to the provisions set
forth in Section 11 below as well as the provisions set forth in Sections 4 and 8 of Exhibit D
hereto) each party waives, and shall cause its insurance carrier to waive, any right of recovery
against the other party, any of its (direct or indirect) owners, or any of their respective beneficiaries, trustees, officers,
directors, employees or agents for any loss of or damage to property which loss or damage is (or, if the insurance required hereunder
had been carried, would have been) covered by the waiving party’s property insurance. For purposes of this Section 10.4
only, (a) any deductible with respect to a party’s insurance shall be deemed covered by, and recoverable by such party
under, valid and collectable policies of insurance, and (b) any contractor retained by Landlord to install, maintain or monitor
a fire or security alarm for the Building shall be deemed an agent of Landlord.

 

10.5 Additional
Insurance Obligations. Tenant shall maintain such increased amounts of the insurance required
to be carried by Tenant under this Section 10, and such other types and amounts of insurance covering the Premises
and Tenant’s operations therein, as may be reasonably requested by Landlord, but not in excess of the amounts and types of
insurance then being required by landlords of Comparable Buildings.

 

11    CASUALTY
DAMAGE. With reasonable promptness after discovering any damage to the Premises (other than trade
fixtures), or to any Common Area or portion of the Base Building necessary for access to or tenantability of the Premises, resulting
from any fire or other casualty (a “Casualty”), Landlord shall notify Tenant
of Landlord’s reasonable estimate of the time required to substantially complete repair of such damage (the “Landlord
Repairs”). If, according to such estimate, the Landlord Repairs cannot be substantially
completed within 210 days after the date of the Casualty, either party may terminate this Lease upon 60 days’ notice
to the other party delivered within 10 days after Landlord’s delivery of such estimate. Within 90 days after discovering
any damage to the Project resulting from any Casualty, Landlord may, whether or not the Premises are affected, terminate this Lease
by notifying Tenant if (i) any Security Holder terminates any ground lease or requires that any insurance proceeds be used
to pay any mortgage debt; (ii) any damage to Landlord’s property is not fully covered by Landlord’s insurance
policies; (iii) Landlord decides to rebuild the Building or Common Areas so that it or they will be substantially different
structurally or architecturally; (iv) the damage occurs during the last 12 months of the Term; or (v) any owner,
other than Landlord, of any damaged portion of the Project does not intend to repair such damage; provided, however, that Landlord
may not terminate this Lease pursuant to this sentence unless the Premises have been materially damaged or Landlord also exercises
all rights it may have acquired as a result of the Casualty to terminate any other similarly situated leases of space in the Building.
Tenant shall have the right to terminate this Lease if: (a) there is less than one (1) year of the Term remaining on the date of
the Casualty; (b) the Casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors;
and (c) Tenant provides Landlord with written notice of its intent to terminate within 30 days after the date of Tenant’s
receipt of the estimate of the time required to substantially complete the Landlord Repairs. If this Lease is not terminated pursuant
to this Section 11, Landlord shall promptly and diligently perform the Landlord Repairs, subject to reasonable delays
for insurance adjustment and other events of Force Majeure. The Landlord Repairs shall restore the Premises (other than trade fixtures)
and any Common Area or portion of the Base Building necessary for access to or tenantability of the Premises to substantially the
same condition that existed when the Casualty occurred, except for (a) any modifications required by Law or any Security Holder,
and (b) any modifications to the Common Areas that are deemed desirable by Landlord, are consistent with the character of
the Project, and do not materially impair access to or tenantability of the Premises. Notwithstanding Section 10.4,
Tenant shall assign to Landlord (or its designee) all insurance proceeds payable to Tenant under Tenant’s insurance required
under Section 10.2 with respect to any Tenant-Insured Improvements, and if the estimated or actual cost of restoring
any Tenant-Insured Improvements exceeds the insurance proceeds received by Landlord from Tenant’s insurance carrier, Tenant
shall pay such excess to Landlord within 30 days after Landlord’s demand. No Casualty and no restoration performed as
required hereunder shall render Landlord liable to Tenant, constitute a constructive eviction, or excuse Tenant from any obligation
hereunder; provided, however, that if the Premises (other than trade fixtures) or any Common Area or portion of the Base Building
necessary for access to or tenantability of the Premises is damaged by a Casualty, then, during any time that, as a result of such
damage, any portion of the Premises is inaccessible or untenantable and is not occupied by Tenant, Monthly Rent shall be abated
in proportion to the rentable square footage of such portion of the Premises.

 

    	 	11	 

     

    

 

12    NONWAIVER.
No provision hereof shall be deemed waived by either party unless it is waived by such party
expressly and in writing, and no waiver of any breach of any provision hereof shall be deemed a waiver of any subsequent breach
of such provision or any other provision hereof. Landlord’s acceptance of Rent shall not be deemed a waiver of any preceding
breach of any provision hereof, other than Tenant’s failure to pay the particular Rent so accepted, regardless of Landlord’s
knowledge of such preceding breach at the time of such acceptance. No acceptance of payment of an amount less than the Rent due
hereunder shall be deemed a waiver of Landlord’s right to receive the full amount of Rent due, whether or not any endorsement
or statement accompanying such payment purports to effect an accord and satisfaction. No receipt of monies by Landlord from Tenant
after the giving of any notice, the commencement of any suit, the issuance of any final judgment, or the termination hereof shall
affect such notice, suit or judgment, or reinstate or extend the Term or Tenant’s right of possession hereunder.

 

13    CONDEMNATION.
If any part of the Premises, Building or Project is taken for any public or quasi-public use
by power of eminent domain or by private purchase in lieu thereof (a “Taking”)
for more than 180 consecutive days, Landlord may terminate this Lease; provided, however, that Landlord may not terminate
this Lease pursuant to this sentence unless a material portion of the Premises has been Taken or Landlord also exercises all rights
it may have acquired as a result of the Taking to terminate any other similarly situated leases of space in the Building. If more
than 25% of the rentable square footage of the Premises, or any Common Area or portion of the Base Building necessary for access
to or tenantability of the Premises, is Taken for more than 180 consecutive days, Tenant may terminate this Lease. Any such
termination shall be effective as of the date possession must be surrendered to the authority, and the terminating party shall
provide termination notice to the other party within 45 days after receiving written notice of such surrender date. Except
as provided above in this Section 13, neither party may terminate this Lease as a result of a Taking. Tenant shall
not assert, and hereby assigns to Landlord, any claim it may have for compensation because of any Taking; provided, however, that
Tenant may file a separate claim for any Taking of Tenant’s personal property or any trade fixtures that Tenant is entitled
to remove upon the expiration hereof, and for moving expenses, so long as such claim does not diminish the award available to Landlord
or any Security Holder and is payable separately to Tenant. If this Lease is terminated pursuant to this Section 13,
all Rent shall be apportioned as of the date of such termination. If a Taking occurs and this Lease is not so terminated, Monthly
Rent shall be abated for the period of such Taking in proportion to the percentage of the rentable square footage of the Premises,
if any, that is subject to, or rendered inaccessible or untenantable by, such Taking and not occupied by Tenant.

 

		14	ASSIGNMENT AND SUBLETTING.

 

14.1 Transfers.
Tenant shall not, without Landlord’s prior consent (subject to the terms of this Section
14), assign, mortgage, pledge, hypothecate, encumber, permit any lien to attach to, or otherwise transfer this Lease or any
interest hereunder, permit any assignment or other transfer hereof or any interest hereunder by operation of law, enter into any
sublease or license agreement, otherwise permit the occupancy or use of any part of the Premises by any persons other than Tenant
and its employees and contractors, or permit a Change of Control (defined in Section 14.6) to occur (each, a “Transfer”).
If Tenant desires Landlord’s consent to any Transfer, Tenant shall provide Landlord with (i) notice of the terms of
the proposed Transfer, including its proposed effective date (the “Contemplated Effective Date”),
a description of the portion of the Premises to be transferred (the “Contemplated Transfer Space”),
a calculation of the Transfer Premium (defined in Section 14.3), and a copy of all existing executed and/or proposed
documentation pertaining to the proposed Transfer, and (ii) current financial statements of the proposed transferee (or, in
the case of a Change of Control, of the proposed new controlling party(ies)) certified by an officer or owner thereof and any other
information reasonably required by Landlord in order to evaluate the proposed Transfer (collectively, the “Transfer
Notice”). Within 30 days after receiving the Transfer Notice, Landlord shall notify
Tenant of (a) its consent to the proposed Transfer, (b) its refusal to consent to the proposed Transfer, or (c) its
exercise of its rights under Section 14.4. Any Transfer made without Landlord’s prior consent shall, at Landlord’s
option, be void and shall, at Landlord’s option, constitute a Default. Concurrently with Tenant’s delivery of the Transfer
Notice, Tenant shall pay Landlord a fee of $1,500.00 for Landlord’s review of any proposed Transfer, whether or not Landlord
consents to it.

 

14.2 Landlord’s
Consent. Subject to Section 14.4, Landlord shall not unreasonably withhold its
consent to any proposed Transfer. Without limiting other reasonable grounds for withholding consent, it shall be deemed reasonable
for Landlord to withhold its consent to a proposed Transfer if:

 

14.2.1     The
proposed transferee is not a party of reasonable financial strength in light of the responsibilities to be undertaken in connection
with the Transfer on the date the Transfer Notice is received; or

 

    	 	12	 

     

    

 

14.2.2     The
proposed transferee has a character or reputation or is engaged in a business that is not consistent with the quality of the Building
or the Project; or

 

14.2.3    The
proposed transferee is a governmental entity or a nonprofit organization; or

 

14.2.4     Intentionally
omitted; or

 

14.2.5    The
proposed transferee or any of its Affiliates, on the date the Transfer Notice is received, leases or occupies (or, at any time
during the 6-month period ending on the date the Transfer Notice is received, has negotiated with Landlord to lease) space in the
Building.

 

Notwithstanding any
contrary provision hereof, (a) if Landlord consents to any Transfer pursuant to this Section 14.2 but Tenant does not
enter into such Transfer within six (6) months thereafter, such consent shall no longer apply and such Transfer shall not
be permitted unless Tenant again obtains Landlord’s consent thereto pursuant and subject to the terms of this Section 14;
and (b) if Landlord withholds its consent in breach of this Section 14.2, Tenant’s sole remedies shall be
contract damages (subject to Section 20) or specific performance, and Tenant waives all other remedies, including any
right to terminate this Lease.

 

14.3 Transfer
Premium. If Landlord consents to a Transfer (other than a Change of Control or a Permitted
Transfer), Tenant shall pay Landlord an amount equal to 50% of any Transfer Premium (defined below). As used herein, “Transfer
Premium” means (a) in the case of an assignment, any consideration (including payment
for Leasehold Improvements) paid by the assignee for such assignment, less any reasonable and customary expenses directly incurred
by Tenant on account of such assignment, including brokerage fees, legal fees, and Landlord’s review fee, and (b) in
the case of a sublease, license or other occupancy agreement, for each month of the term of such agreement, the amount by which
all rent and other consideration paid by the transferee to Tenant pursuant to such agreement (less all reasonable and customary
expenses directly incurred by Tenant on account of such agreement, including brokerage fees, legal fees, construction costs and
Landlord’s review fee, as amortized on a monthly, straight-line basis over the term of such agreement) exceeds the Monthly
Rent payable by Tenant hereunder with respect to the Contemplated Transfer Space. Payment of Landlord’s share of the Transfer
Premium shall be made (x) in the case of an assignment, within 30 days after Tenant receives the consideration described
above, and (y) in the case of a sublease, license or other occupancy agreement, for each month of the term of such agreement,
within five (5) business days after Tenant receives the rent and other consideration described above.

 

14.4 Landlord’s
Right to Recapture. Notwithstanding any contrary provision hereof, except in the case of
a Change of Control (defined below), a Permitted Transfer (defined in Section 14.8), or a sublease (including any expansion
rights) of less than 50% of the rentable square footage of the then existing Premises for a term (including any extension options)
of less than 100% of the balance of the Term remaining on the Contemplated Effective Date (excluding any unexercised extension
options), Landlord, by notifying Tenant within 30 days after receiving the Transfer Notice, may terminate this Lease with respect
to the Contemplated Transfer Space as of the Contemplated Effective Date; provided, however, that such termination shall not be
effective if Tenant, by notifying Landlord within five (5) days after receiving Landlord’s notice of termination, withdraws
the Transfer Notice. If Tenant does not timely withdraw the Transfer Notice, and if the Contemplated Transfer Space is less than
the entire Premises, then Base Rent, Tenant’s Share, and the number of parking spaces to which Tenant is entitled under Section
1.9 shall be deemed adjusted on the basis of the percentage of the rentable square footage of the portion of the Premises retained
by Tenant. Upon request of either party, the parties shall execute a written agreement prepared by Landlord memorializing such
termination.

 

14.5 Effect
of Consent. If Landlord consents to a Transfer, (i) such consent shall not be deemed
a consent to any further Transfer, (ii) Tenant shall deliver to Landlord, promptly after execution, an executed copy of all
documentation pertaining to the Transfer in form reasonably acceptable to Landlord, and (iii) Tenant shall deliver to Landlord,
upon Landlord’s request, a complete statement, certified by an independent CPA or Tenant’s chief financial officer,
setting forth in detail the computation of any Transfer Premium. In the case of an assignment, the assignee shall assume in writing,
for Landlord’s benefit, all of Tenant’s obligations hereunder. No Transfer, with or without Landlord’s consent,
shall relieve Tenant or any guarantor hereof from any liability hereunder. Notwithstanding any contrary provision hereof, Tenant,
with or without Landlord’s consent, shall not enter into, or permit any party claiming by, through or under Tenant to enter
into, any sublease, license or other occupancy agreement that provides for payment based in whole or in part on the net income
or profit of the subtenant, licensee or other occupant thereunder.

 

    	 	13	 

     

    

 

14.6 Change
of Control. As used herein, “Change of Control”
means (a) if Tenant is a closely held professional service firm, the withdrawal or change (whether voluntary, involuntary
or by operation of law) of more than 50% of its equity owners within a 12-month period; and (b) in all other cases, any
transaction(s) resulting in the acquisition of a Controlling Interest (defined below) in Tenant by one or more parties that neither
owned, nor are Affiliates (defined below) of one or more parties that owned, a Controlling Interest in Tenant immediately before
such transaction(s). As used herein, “Controlling Interest” means control
over an entity, other than control arising from the ownership of voting securities listed on a recognized securities exchange.
As used herein, “control” means the direct or indirect power to direct the
ordinary management and policies of an entity, whether through the ownership of voting securities, by contract or otherwise. As
used herein, “Affiliate” means, with respect to any party, a person or entity
that controls, is under common control with, or is controlled by such party.

 

14.7 Effect
of Default. If Tenant is in Default, Landlord is irrevocably authorized, as Tenant’s
agent and attorney-in-fact, to direct any transferee under any sublease, license or other occupancy agreement to make all payments
under such agreement directly to Landlord (which Landlord shall apply towards Tenant’s obligations hereunder) until such
Default is cured. Such transferee shall rely upon any representation by Landlord that Tenant is in Default, whether or not confirmed
by Tenant.

 

14.8 Permitted
Transfers. Notwithstanding any contrary provision hereof, if Tenant is not in Default, Tenant
may, without Landlord’s consent pursuant to Section 14.1, 

 

permit
a Change of Control to occur, 

 

sublease
any portion of the Premises to an Affiliate of Tenant, or 

 

assign
this Lease to (a) an Affiliate of Tenant (other than pursuant to a merger or consolidation), (b) a successor to Tenant
by merger or consolidation, or (c) a successor to Tenant by purchase of all or substantially all of Tenant’s assets

 

(in
each case, a “Permitted Transfer”), provided that 

 

		(i)	at least 10 business days before the Transfer (provided
that if such pre-Transfer notice and delivery are prohibited by a confidentiality agreement or by Law, then within 10 business
days after the Transfer), Tenant notifies Landlord of the Transfer and delivers to Landlord any documents or information reasonably
requested by Landlord relating thereto, including reasonable documentation that the Transfer satisfies the requirements of this
Section 14.8; 

 

		(ii)	in the case of a sublease, the subtenant executes and delivers
to Landlord, at least 10 business days before taking occupancy, an agreement reasonably acceptable to Landlord which (A) requires
the subtenant to assume all of Tenant’s release, waiver, indemnity and insurance obligations hereunder with respect to the
Contemplated Transfer Space and to be bound by each provision hereof that limits the liability of any Landlord Party, and (B) provides
that if either a Landlord Party or the subtenant institutes a suit against the other for violation of or to enforce such agreement,
or in connection with any matter relating to the sublease or the subtenant’s occupancy of the Contemplated Transfer Space,
the prevailing party shall be entitled to all of its costs and expenses, including reasonable attorneys’ fees;

 

		(iii)	in the case of an assignment pursuant to clause (a) or (c)
above, the assignee executes and delivers to Landlord, at least 10 business days before the assignment (provided that if such
pre-assignment execution and delivery are prohibited by a confidentiality agreement or by Law, then within 10 business days after
the assignment), a commercially reasonable instrument pursuant to which the assignee assumes, for Landlord’s benefit, all
of Tenant’s obligations hereunder;

 

		(iv)	in the case of an assignment pursuant to clause (b) above,
(A) the successor entity has a net worth (as determined in accordance with GAAP, but excluding intellectual property and any
other intangible assets (“Net Worth”)) immediately after the Transfer that
is not less than Tenant’s Net Worth immediately before the Transfer, and (B) if Tenant is a closely held professional
service firm, at least 50% of its equity owners existing 12 months before the Transfer are also equity owners of the
successor entity; 

 

		(v)	except in the case of a Change of Control, the transferee is
qualified to conduct business in the State of California; 

 

		(vi)	in the case of a Change of Control, (A) Tenant is not a closely
held professional service firm and (B) Tenant’s Net Worth immediately after the Change of Control is not less than its Net
Worth immediately before the Change of Control; and 

 

		(vii)	the Transfer is made for a good faith operating business purpose
and not in order to evade the requirements of this Section 14.

 

    	 	14	 

     

    

 

15    SURRENDER.
Upon the expiration or earlier termination hereof, and subject to Sections 8 and
11 and this Section 15, Tenant shall surrender possession of the Premises to Landlord in as good condition and
repair as existed when Tenant took possession and as thereafter improved, except for reasonable wear and tear and repairs that
are Landlord’s express responsibility hereunder. Before such expiration or termination, Tenant, without expense to Landlord,
shall (a) remove from the Premises all debris and rubbish and all furniture, equipment, trade fixtures, Lines, free-standing
cabinet work, movable partitions and other articles of personal property that are owned or placed in the Premises by Tenant or
any party claiming by, through or under Tenant (except for any Lines not required to be removed under Section 23),
and (b) repair all damage to the Premises and Building resulting from such removal. If Tenant fails to timely perform such
removal and repair, Landlord may do so at Tenant’s expense (including storage costs). If Tenant fails to remove such property
from the Premises, or from storage, within 30 days after notice from Landlord, any part of such property shall be deemed,
at Landlord’s option, either (x) conveyed to Landlord without compensation, or (y) abandoned.

 

16    HOLDOVER.
If Tenant fails to surrender the Premises upon the expiration or earlier termination hereof,
Tenant’s tenancy shall be subject to the terms and conditions hereof; provided, however, that such tenancy shall be a tenancy
at sufferance only, for the entire Premises, and Tenant shall pay Monthly Rent (on a per-month basis without reduction for any
partial month) at a rate equal to 150% of the Monthly Rent applicable during the last calendar month of the Term. Nothing in this
Section 16 shall limit Landlord’s rights or remedies or be deemed a consent to any holdover. If Landlord is unable
to deliver possession of the Premises to, or perform improvements for, a new tenant as a result of Tenant’s holdover, Tenant
shall be liable for all resulting damages, including lost profits, incurred by Landlord.

 

17    SUBORDINATION;
ESTOPPEL CERTIFICATES; FINANCIALS. This Lease shall be subject and subordinate to all existing
and future ground or underlying leases, mortgages, trust deeds and other encumbrances against the Building or Project, all renewals,
extensions, modifications, consolidations and replacements thereof (each, a “Security Agreement”),
and all advances made upon the security of such mortgages or trust deeds, unless in each case the holder of such Security Agreement
(each, a “Security Holder”) requires in writing that this Lease be superior
thereto. Upon any termination or foreclosure (or any delivery of a deed in lieu of foreclosure) of any Security Agreement, Tenant,
upon request, shall attorn, without deduction or set-off, to the Security Holder or purchaser or any successor thereto and shall
recognize such party as the lessor hereunder provided that such party agrees not to disturb Tenant’s occupancy so long as
Tenant timely pays the Rent and otherwise performs its obligations hereunder. Within 30 business days after Landlord’s
request, Tenant shall execute such further instruments as Landlord may reasonably deem necessary to evidence the subordination
or superiority of this Lease to any Security Agreement. Tenant waives any right it may have under Law to terminate or otherwise
adversely affect this Lease or Tenant’s obligations hereunder upon a foreclosure. Notwithstanding the foregoing, Tenant’s
agreement to subordinate this Lease to a future Security Agreement shall not be effective unless Landlord has provided Tenant with
a commercially reasonable non-disturbance agreement from the Security Holder. Within 30 business days after Landlord’s request,
Tenant shall execute and deliver to Landlord a commercially reasonable estoppel certificate in favor of such parties as Landlord
may reasonably designate, including current and prospective Security Holders and prospective purchasers. Within 30 days after Tenant's
receipt of Landlord's written request (but no more than once each calendar year), Tenant shall provide Landlord with its current
financial statement and its financial statements for the prior two (2) calendar or fiscal years (if Tenant's fiscal year is other
than a calendar year). Any such statements shall be prepared in accordance with generally accepted accounting principles and, if
the normal practice of Tenant, shall be audited by an independent certified public accountant.

 

		18	ENTRY BY LANDLORD.

 

18.1 At
all reasonable times and upon 24 hours prior notice to Tenant, (provided that no such notice shall be required in cases of an emergency),
Landlord may enter the Premises to (i) inspect the Premises; (ii) show the Premises to prospective purchasers, current
or prospective Security Holders or insurers, or, during the last 12 months of the Term (or while an uncured Default exists),
prospective tenants; (iii) post notices of non-responsibility; or (iv) perform maintenance, repairs or alterations. At
any time and without notice to Tenant, Landlord may enter the Premises to perform required services, provided, however, that except
in an emergency, Landlord shall provide Tenant with reasonable prior notice (which notice, notwithstanding Section 25.1,
may be delivered by e-mail, fax, telephone or orally and in person) of any entry to perform a service that is not performed on
a monthly or more frequent basis. If reasonably necessary, Landlord may temporarily close any portion of the Premises to perform
maintenance, repairs or alterations. In an emergency, Landlord may use any means it deems proper to open doors to and in the Premises.
Except in an emergency, Landlord shall use reasonable efforts to minimize interference with Tenant’s use of the Premises.
Except in an emergency, Tenant may have one of its employees accompany Landlord if Tenant makes such employee available when Landlord
enters the Premises. No entry into or closure of any portion of the Premises pursuant to this Section 18 shall render
Landlord liable to Tenant, constitute a constructive eviction, or excuse Tenant from any obligation hereunder.

 

    	 	15	 

     

    

 

18.2       Tenant,
at its expense, may provide its own locks to an area within the Premises (“Secured Area”)
containing not more than 10% of the total rentable square feet. Upon the expiration or earlier termination of this Lease or Tenant’s
right to possession, Tenant shall surrender to Landlord all keys to the Secured Area. Other than in an emergency, Landlord shall
not enter the Secured Area without Tenant’s consent, which shall not be unreasonably withheld. Landlord shall comply with
all reasonable security measures pertaining to the Secured Area. If Landlord determines, in its sole discretion, that an emergency
requires that Landlord enter the Secured Area, then (a) Landlord may forcibly enter the Secured Area; (b) Landlord shall
have no liability to Tenant with respect to such entry; and (c) Tenant shall pay all reasonable expenses incurred by Landlord
in repairing any damage to the Premises resulting from such entry. Notwithstanding any contrary provision hereof, Landlord shall
have no obligation to provide janitorial service in the Secured Area.

 

		19	DEFAULTS; REMEDIES.

 

19.1 Events
of Default. The occurrence of any of the following shall constitute a
“Default”:

 

19.1.1       Any
failure by Tenant to pay any Rent (or deliver any credit enhancement required hereunder) when due unless such failure is cured
within five (5) business days after Tenant’s receipt of notice from Landlord that the same was not paid when due; or

 

19.1.2       Except
where a specific time period is otherwise set forth for Tenant’s cure herein (in which event Tenant’s failure to cure
within such time period shall be a Default), and except as otherwise provided in this Section 19.1, any breach by Tenant
of any other provision hereof where such breach continues for 30 days after notice from Landlord; provided that if such breach
cannot reasonably be cured within such 30-day period, Tenant shall not be in Default as a result of such breach if Tenant diligently
commences such cure within such period, thereafter diligently pursues such cure, and completes such cure within 60 days after
Landlord’s notice (or within such longer period as may be reasonably required provided that such failure can be cured and
Tenant diligently pursues such cure); or

 

19.1.3       Intentionally
omitted; or

 

19.1.4       Any
breach by Tenant of Section 17 or 18 where such breach continues for more than two (2) business days
after notice from Landlord; or

 

19.1.5       Tenant
becomes in breach of Section 25.3(c) or (d).

 

If Tenant, by repeating
substantially the same act or omission, breaches a particular provision hereof (other than a provision requiring payment of Rent),
and Landlord notifies Tenant of such breach, on three (3) separate occasions during any 12-month period, and if such breaches are
collectively material, then Tenant’s subsequent breach of such provision by commission of substantially the same act or omission
shall be, at Landlord’s option, an incurable Default. The notice periods provided herein are in lieu of, and not in addition
to, any notice periods provided by Law, and Landlord shall not be required to give any additional notice in order to be entitled
to commence an unlawful detainer proceeding.

 

19.2 Remedies
Upon Default. Upon any Default, Landlord shall have, in addition to any other remedies
available to Landlord at law or in equity (which shall be cumulative and nonexclusive), the option to pursue any one or more of
the following remedies (which shall be cumulative and nonexclusive) without any additional notice or demand:

 

19.2.1     Landlord
may terminate this Lease, in which event Landlord may recover from Tenant the following:

 

(a)       The
worth at the time of award of the unpaid Rent which had been earned at the time of such termination; plus

 

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

 

(c)       The
worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the
amount of such Rent loss that Tenant proves could be reasonably avoided; plus

 

(d)       Any
other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its
obligations hereunder or which in the ordinary course of things would be likely to result therefrom, including brokerage commissions,
advertising expenses, expenses of remodeling any portion of the Premises for a new tenant (whether for the same or a different
use), and any special concessions made to obtain a new tenant; plus

 

(e)       At
Landlord’s option, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by
Law.

 

    	 	16	 

     

    

 

As used in Sections 19.2.1(a)
and (b), the “worth at the time of award” shall be computed by allowing interest at the rate specified
in Section 3(b) above. As used in Section 19.2.1(c), the “worth at the time of award” shall
be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus
1%.

 

19.2.2      Landlord
shall have the remedy described in California Civil Code § 1951.4 (lessor may continue lease in effect after lessee’s
breach and abandonment and recover Rent as it becomes due, if lessee has the right to sublet or assign, subject only to reasonable
limitations). Accordingly, if Landlord does not elect to terminate this Lease on account of any default by Tenant, Landlord may,
from time to time, without terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover
all Rent as it becomes due.

 

19.2.3     Landlord
shall at all times have the rights and remedies (which shall be cumulative with each other and cumulative and in addition to those
rights and remedies available under Sections 19.2.1 and 19.2.2, or any Law or other provision hereof), without
prior demand or notice except as required by Law, to seek any declaratory, injunctive or other equitable relief, and specifically
enforce this Lease, or restrain or enjoin a violation or breach of any provision hereof.

 

19.3 Efforts
to Relet. Unless Landlord provides Tenant with express notice to the contrary, no re-entry,
repair, maintenance, change, alteration, addition, reletting, appointment of a receiver or other action or omission by Landlord
shall (a) be construed as an election by Landlord to terminate this Lease or Tenant’s right to possession, or to accept
a surrender of the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Tenant waives, for Tenant
and for all those claiming by, through or under Tenant, California Civil Code § 3275, California Code of Civil
Procedure §§ 1174(c) and 1179, and any existing or future rights to redeem or reinstate, by order or judgment of
any court or by any legal process or writ, this Lease or Tenant’s right of occupancy of the Premises after any termination
hereof.

 

19.4 Landlord
Default. Landlord shall not be in default hereunder unless it breaches a provision hereof
and such breach continues for 30 days after notice from Tenant; provided that if such breach cannot reasonably be cured within
such 30-day period, Landlord shall not be in default as a result of such breach if Landlord diligently commences such cure within
such period, thereafter diligently pursues such cure, and completes such cure within 60 days after Tenant’s notice (or within
such longer period as may be reasonably required provided that such failure can be cured and Landlord diligently pursues such
cure). Before exercising any remedies for a default by Landlord, Tenant shall give notice and a reasonable time to cure to any
Security Holder of which Tenant has been notified.

 

		20	EXCULPATION.

 

20.1 Landlord’s
Exculpation. Notwithstanding any contrary provision hereof, (a) the liability of the
Landlord Parties to Tenant shall be limited to an amount equal to the Landlord’s interest in the Building; (b) Tenant
shall look solely to Landlord’s interest in the Building for the recovery of any judgment or award against any Landlord
Party; (c) no Landlord Party shall have any liability for any judgment or deficiency, and Tenant waives and releases such
liability on behalf of itself and all parties claiming by, through or under Tenant; and (d) no Landlord Party shall be liable
for any injury or damage to, or interference with, Tenant’s business, including loss of profits, loss of rents or other
revenues, loss of business opportunity, loss of goodwill or loss of use, or for any form of special or consequential damage. For
purposes of this Section 20, “Landlord’s interest in the Building”
shall include rents paid by tenants, insurance proceeds, condemnation proceeds, and proceeds from the sale of the Building (collectively,
“Owner Proceeds”); provided, however, that Tenant shall not be entitled to
recover Owner Proceeds from any Landlord Party (other than Landlord) or any other third party after they have been distributed
or paid to such party; provided further, however, that nothing in this sentence shall diminish any right Tenant may have under
Law, as a creditor of Landlord, to initiate or participate in an action to recover Owner Proceeds from a third party on the grounds
that such third party obtained such Owner Proceeds when Landlord was, or could reasonably be expected to become, insolvent or
in a transfer that was preferential or fraudulent as to Landlord’s creditors.

 

20.2. Tenant
Exculpation. Notwithstanding any contrary provision hereof, no Tenant Party shall be liable
for any form of special or consequential damage, except as provided in Section 16.

 

21    SECURITY
DEPOSIT. Concurrently with its execution and delivery hereof, Tenant shall deposit with Landlord
the Security Deposit, if any, as security for Tenant’s performance of its obligations hereunder. If Tenant breaches any provision
hereof, Landlord may, at its option, without limiting its remedies and without notice to Tenant, apply all or part of the Security
Deposit to cure such breach and compensate Landlord for any loss or damage caused by such breach, including any damage for which
recovery may be made under California Civil Code § 1951.2. If Landlord so applies any portion of the Security Deposit,
Tenant, within 10 business days after demand therefor, shall restore the Security Deposit to its original amount. The Security
Deposit is not an advance payment of Rent or measure of damages. Any unapplied portion of the Security Deposit shall be returned
to Tenant within 45 days after the latest to occur of (a) the expiration of the Term, (b) Tenant’s surrender
of the Premises as required hereunder, or (c) Landlord’s cure of any breach by Tenant of any provision hereof; provided,
however, that if Landlord estimates in good faith that Tenant may be required to make a payment to Landlord under Section 4.4.1,
Landlord may retain such unapplied portion of the Security Deposit, to the extent of the estimated amount of such payment, until
the date occurring 60 days after determination of the final Rent due from Tenant. Landlord shall not be required to keep the Security
Deposit separate from its other accounts.

 

    	 	17	 

     

    

 

		22	INTENTIONALLY OMITTED.

 

23    COMMUNICATIONS
AND COMPUTER LINES. All Lines installed pursuant to this Lease shall be (a) installed in
accordance with Section 7; and (b) clearly marked with adhesive plastic labels (or plastic tags attached to such
Lines with wire) to show Tenant’s name, suite number, and the purpose of such Lines (i) every six (6) feet outside
the Premises (including the electrical room risers and any Common Areas), and (ii) at their termination points. Landlord may
designate specific contractors for work relating to vertical Lines. Sufficient spare cables and space for additional cables shall
be maintained for other occupants, as reasonably determined by Landlord. Unless otherwise notified by Landlord, Tenant, at its
expense and before the expiration or earlier termination hereof, shall remove all Lines and repair any resulting damage. As used
herein, “Lines” means all communications or computer wires and cables (and
associated conduit) serving the Premises that were installed by or at the request of Tenant (whether pursuant to this Lease or
any prior lease).

 

24    PARKING.
Tenant may park in the Building’s parking facilities (the “Parking Facility”),
in common with other tenants of the Building, upon the following terms and conditions. Tenant shall not use more than the number
of unreserved and/or reserved parking spaces set forth in Section 1.9. Tenant shall pay Landlord, in accordance with
Section 3, any fees for the parking spaces described in Section 1.9. Tenant shall pay Landlord any fees,
taxes or other charges imposed by any governmental or quasi-governmental agency in connection with the Parking Facility, to the
extent such amounts are allocated to Tenant by Landlord based on the number and type of parking spaces Tenant is entitled to use.
Tenant shall comply with all rules and regulations established by Landlord from time to time for the orderly operation and use
of the Parking Facility, including any sticker or other identification system and the prohibition of vehicle repair and maintenance
activities in the Parking Facility. Landlord may, in its discretion, allocate and assign parking passes among Tenant and the other
tenants in the Building. Tenant’s use of the Parking Facility shall be at Tenant’s sole risk, and Landlord shall have
no liability for any personal injury or damage to or theft of any vehicles or other property occurring in the Parking Facility
or otherwise in connection with any use of the Parking Facility by Tenant or its employees or invitees. Landlord may alter the
size, configuration, design, layout or any other aspect of the Parking Facility, and, in connection therewith, temporarily deny
or restrict access to the Parking Facility, in each case without abatement of Rent or liability to Tenant. Landlord may delegate
its responsibilities hereunder to a parking operator, in which case (i) such parking operator shall have all the rights of
control reserved herein by Landlord, (ii) Tenant shall enter into a parking agreement with such parking operator, and (iii) Landlord
shall have no liability for claims arising through acts or omissions of such parking operator except to the extent caused by Landlord’s
gross negligence or willful misconduct. Tenant’s parking rights under this Section 24 are solely for the benefit
of Tenant’s employees and invitees and such rights may not be transferred without Landlord’s prior consent, except
pursuant to a Transfer permitted under Section 14.

 

		25	MISCELLANEOUS.

 

25.1 Notices.
Except as provided in Section 18, no notice, demand, statement, designation, request,
consent, approval, election or other communication given hereunder (“Notice”)
shall be binding upon either party unless (a) it is in writing; (b) it is (i) sent by certified or registered mail,
postage prepaid, return receipt requested, (ii) delivered by a nationally recognized courier service, or (iii) delivered
personally; and (c) it is sent or delivered to the address set forth in Section 1.10 or 1.11, as applicable,
or to such other place (other than a P.O. box) as the recipient may from time to time designate in a Notice to the other
party. Any Notice shall be deemed received on the earlier of the date of actual delivery or the date on which delivery is refused,
or, if Tenant is the recipient and has vacated its notice address without providing a new notice address, three (3) days
after the date the Notice is deposited in the U.S. mail or with a courier service as described above. No provision of this Lease
requiring a particular Notice to be in writing shall limit the generality of clause (a) of the first sentence of this Section 25.1.

 

25.2 Force
Majeure. If either party is prevented from performing any obligation hereunder by any strike,
act of God, fire, war, terrorist act, shortage of labor or materials, governmental action (including, without limitation, governmentally
required evacuations), civil commotion or other cause beyond such party’s reasonable control (“Force Majeure”),
such obligation shall be excused during (and any time period for the performance of such obligation shall be extended by) the
period of such prevention; provided, however, that this Section 25.2 shall not (a) permit Tenant to hold over in the Premises
after the expiration or earlier termination hereof, (b) excuse (i) any obligation to pay, disburse, reimburse or remit money,
(ii) any obligation to indemnify, defend or hold harmless any party, or (iii) any obligation under Section 25.3, or (c)
except as may be expressly provided herein, extend any period of time whose expiration results, under the express terms hereof,
in an abatement of Rent or a right to terminate this Lease.

 

    	 	18	 

     

    

 

25.3 Representations
and Covenants. Each party (“Representing Party”)
represents, warrants and covenants to the other party that (a) Representing Party is, and at all times during the Term will remain,
duly organized, validly existing and in good standing under the Laws of the state of its formation and qualified to do business
in the state of California; (b) neither Representing Party’s execution of nor its performance under this Lease will cause
Representing Party to be in violation of any agreement or Law; (c) Representing Party (and if Representing Party is Tenant, any
guarantor hereof) has not, and at no time during the Term will have, (i) made a general assignment for the benefit of creditors,
(ii) filed a voluntary petition in bankruptcy, (iii) suffered (A) the filing by creditors of an involuntary petition in bankruptcy
that is not dismissed within 30 days, (B) the appointment of a receiver to take possession of all or substantially all of its
assets, or (C) the attachment or other judicial seizure of all or substantially all of its assets, (iv) admitted in writing its
inability to pay its debts as they come due, or (v) made an offer of settlement, extension or composition to its creditors generally;
and (d) no party that (other than through the passive ownership of interests traded on a recognized securities exchange) constitutes,
owns, controls, or is owned or controlled by Representing Party (or if Representing Party is Tenant, by any guarantor hereof or
any subtenant of Tenant) is, or at any time during the Term will be, (i) in violation of any Laws relating to terrorism or money
laundering, or (ii) among the parties identified on any list compiled pursuant to Executive Order 13224 for the purpose of identifying
suspected terrorists or on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control at
its official website, http://www.treas.gov/ofac/tllsdn.pdf or any replacement website or other replacement official publication
of such list.

 

25.4 Signs.
Landlord shall include Tenant’s name in any tenant directory located in the lobby on the
first floor of the Building. If any part of the Premises is located on a multi-tenant floor, Landlord, at Tenant’s cost,
shall provide identifying suite signage for Tenant comparable to that provided by Landlord on similar floors in the Building.
Tenant may not install (a) any signs outside the Premises, or (b) without Landlord’s prior consent in its sole
and absolute discretion, any signs, window coverings, blinds or similar items that are visible from outside the Premises.

 

25.5 Supplemental
HVAC. If the Premises are served by any supplemental HVAC unit (a “Unit”),
then (a) Tenant shall pay the costs of all electricity consumed in the Unit’s operation, together with the cost of
installing a meter to measure such consumption; (b) Tenant, at its expense, shall (i) operate and maintain the Unit
in compliance with all applicable Laws and such reasonable rules and procedures as Landlord may impose; (ii) keep the Unit
in as good working order and condition as existed upon installation (or, if later, when Tenant took possession of the Premises),
subject to normal wear and tear and damage resulting from Casualty; (iii) maintain in effect, with a contractor reasonably
approved by Landlord, a contract for the maintenance and repair of the Unit, which contract shall require the contractor, at least
once every three (3) months, to inspect the Unit and provide to Tenant a report of any defective conditions, together with
any recommendations for maintenance, repair or parts-replacement; (iv) follow all reasonable recommendations of such contractor;
and (v) promptly provide to Landlord a copy of such contract and each report issued thereunder; (c) the Unit shall become
Landlord’s property upon installation and without compensation to Tenant; provided, however, that upon Landlord’s
request at the expiration or earlier termination hereof, Tenant, at its expense, shall remove the Unit and repair any resulting
damage (and if Tenant fails to timely perform such work, Landlord may do so at Tenant’s expense); (d) the Unit shall
be deemed (i) a Leasehold Improvement (except for purposes of Section 8), and (ii) for purposes of Section 11,
part of the Premises; (e) if the Unit exists on the date of mutual execution and delivery hereof, Tenant accepts the Unit
in its “as is” condition, without representation or warranty as to quality, condition, fitness for use or any other
matter; (f) if the Unit connects to the Building’s condenser water loop (if any), then Tenant shall pay to Landlord,
as Additional Rent, Landlord’s standard one-time fee for such connection and Landlord’s standard monthly per-ton usage
fee; and (g) if any portion of the Unit is located on the roof, then (i) Tenant’s access to the roof shall be
subject to such reasonable rules and procedures as Landlord may impose; (ii) Tenant shall maintain the affected portion of
the roof in a clean and orderly condition and shall not interfere with use of the roof by Landlord or any other tenants or licensees;
and (iii) Landlord may relocate the Unit and/or temporarily interrupt its operation, without liability to Tenant, as reasonably
necessary to maintain and repair the roof or otherwise operate the Building.

 

25.6 Attorneys’
Fees. In any action or proceeding between the parties, including any appellate or
alternative dispute resolution proceeding, the prevailing party may recover from the other party all of its costs and
expenses in connection therewith, including reasonable attorneys’ fees and costs. Tenant shall pay all reasonable
attorneys’ fees and other fees and costs that Landlord incurs in interpreting or enforcing this Lease or otherwise
protecting its rights hereunder (a) where Tenant has failed to pay Rent when due, or (b) in any bankruptcy case,
assignment for the benefit of creditors, or other insolvency, liquidation or reorganization proceeding involving Tenant or
this Lease.

 

    	 	19	 

     

    

 

25.7 Brokers.
Tenant represents to Landlord that it has dealt only with Tenant’s Broker as its broker
in connection with this Lease. Tenant shall indemnify, defend, and hold Landlord harmless from all claims of any brokers, other
than Tenant’s Broker, claiming to have represented Tenant in connection with this Lease. Landlord shall indemnify, defend
and hold Tenant harmless from all claims of any brokers, including Landlord’s Broker, claiming to have represented Landlord
in connection with this Lease. Landlord shall pay a brokerage commission to Tenant’s Broker subject to the terms of a separate
written agreement to be entered into between Landlord and Tenant’s Broker.

 

25.8 Governing
Law; WAIVER OF TRIAL BY JURY. This Lease shall be construed and enforced in accordance with
the Laws of the State of California. THE PARTIES WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN
ANY LITIGATION ARISING OUT OF OR RELATING TO THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, TENANT’S USE OR OCCUPANCY
OF THE PREMISES, AND/OR ANY CLAIM FOR INJURY OR DAMAGE OR ANY EMERGENCY OR STATUTORY REMEDY.

 

25.9 Waiver
of Statutory Provisions. Each party waives California Civil Code §§ 1932(2),
1933(4) and 1945. Tenant waives (a) any rights under (i) California Civil Code §§ 1932(1), 1941,
1942, 1950.7 or any similar or replacement section or Law, or (ii) California Code of Civil Procedure §§ 1263.260
or 1265.130 or any similar or replacement section or Law; and (b) any right to terminate this Lease under California Civil
Code § 1995.310 or any similar or replacement section or Law.

 

25.10 Interpretation.
As used herein, the capitalized term “Section” refers to a section hereof unless
otherwise specifically provided herein. As used in this Lease, the terms “herein,” “hereof,” “hereto”
and “hereunder” refer to this Lease and the term “include” and its derivatives are not limiting. Any reference
herein to “any part” or “any portion” of the Premises, the Property or any other property shall be construed
to refer to all or any part of such property. As used herein in connection with insurance, the term “deductible” includes
self-insured retention. Wherever this Lease prohibits either party from engaging in any particular conduct, this Lease shall be
deemed also to require such party to cause each of its employees and agents (and, in the case of Tenant, each of its licensees,
invitees and subtenants, and any other party claiming by, through or under Tenant) to refrain from engaging in such conduct. Wherever
this Lease requires Landlord to provide a customary service or to act in a reasonable manner (whether in incurring an expense,
establishing a rule or regulation, providing an approval or consent, or performing any other act), this Lease shall be deemed also
to provide that whether such service is customary or such conduct is reasonable shall be determined by reference to the practices
of owners of buildings (“Comparable Buildings”) that (i) are comparable
to the Building in size, age, class, quality and in the area commonly known as the Redwood Shores submarket, and (ii) at Landlord’s
option, have been, or are being prepared to be, certified under the U.S. Green Building Council’s Leadership in Energy
and Environmental Design (LEED) rating system or a similar rating system. Tenant waives the benefit of any rule that a written
agreement shall be construed against the drafting party.

 

25.11 Entire
Agreement. This Lease sets forth the entire agreement between the parties relating to the
subject matter hereof and supersedes any previous agreements (none of which shall be used to interpret this Lease). Tenant acknowledges
that in entering into this Lease it has not relied upon any representation, warranty or statement, whether oral or written, not
expressly set forth herein. This Lease can be modified only by a written agreement signed by both parties.

 

25.12 Other.
Landlord, at its option, may cure any Default, without waiving any right or remedy or releasing
Tenant from any obligation, in which event Tenant shall pay Landlord, upon demand, the cost of such cure. If any provision hereof
is void or unenforceable, no other provision shall be affected. Submission of this instrument for examination or signature by
Tenant does not constitute an option or offer to lease, and this instrument is not binding until it has been executed and delivered
by both parties. The voluntary or other surrender of this Lease by Tenant, whether accepted by Landlord or not, or a mutual termination
thereof, shall not work a merger, and at the option of Landlord shall operate as an assignment to Landlord of all subleases or
subtenancies affecting the Premises or terminate any or all such sublessees or subtenancies. If Tenant is comprised of two or
more parties, their obligations shall be joint and several. Time is of the essence with respect to the performance of every provision
hereof in which time of performance is a factor. So long as Tenant performs its obligations hereunder, Tenant shall have peaceful
and quiet possession of the Premises against any party claiming by, through or under Landlord, subject to the terms hereof. Landlord
may transfer its interest herein, in which event (a) to the extent the transferee assumes in writing Landlord’s obligations
arising hereunder after the date of such transfer (including the return of any Security Deposit), Landlord shall be released from,
and Tenant shall look solely to the transferee for the performance of, such obligations, and provided that Landlord and its successors,
as the case may be, shall remain liable after their respective periods of ownership with respect to any sums due in connection
with a breach or default by such party that arose during such period of ownership by such party; and (b) Tenant shall attorn
to the transferee. If Tenant (or any party claiming by, through or under Tenant) pays directly to the provider for any energy
consumed at the Property, Tenant, promptly upon request, shall deliver to Landlord (or, at Landlord’s option, execute and
deliver to Landlord an instrument enabling Landlord to obtain from such provider) any data about such consumption that Landlord,
in its reasonable judgment, is required for benchmarking purposes or to disclose to a prospective buyer, tenant or mortgage lender
under any applicable Law. Landlord reserves all rights not expressly granted to Tenant hereunder, including the right to make
alterations to the Project provided that such alterations do not materially prevent Tenant from accessing the Premises or using
the Premises for the Permitted Use. No rights to any view or to light or air over any property are granted to Tenant hereunder.
The expiration or earlier termination hereof shall not relieve either party of any obligation that accrued before, or continues
to accrue after, such expiration or termination. This Lease may be executed in counterparts and shall constitute an agreement
binding on all parties notwithstanding that all parties are not signatories to the original or the same counterpart provided that
all parties are furnished a copy or copies thereof reflecting the signature of all parties.

 

    	 	20	 

     

    

 

25.13 Disclosure.
Landlord acknowledges that Tenant shall file with the Securities and Exchange Commission (the “SEC”) a Current
Report on Form 8-K describing the material terms of the transactions contemplated hereby and including a copy of the Lease as
an exhibit thereto. In addition, Landlord acknowledges and agrees that Tenant may, from time to time, make additional disclosures
relating to or concerning the Lease to the SEC or other governmental agencies, as may be required by securities Law or other applicable
Law, and that nothing in this Lease shall be construed so as to prevent any such disclosures.

 

[SIGNATURES ARE ON THE FOLLOWING
PAGE]

 

    	 	21	 

     

    

 

IN WITNESS WHEREOF,
Landlord and Tenant have caused this Lease to be executed the day and date first above written.

 

	 	LANDLORD:
	 	 
	 	HUDSON SKYWAY LANDING, LLC,
	 	a Delaware limited liability company

 

	 	By:	Hudson Pacific Properties, L.P.,
	 	 	a Maryland limited partnership,
	 	 	its sole member

 

	 	By:	Hudson Pacific Properties, Inc.,
	 	 	a Maryland corporation,
	 	 	its general partner

 

	 	By:	/s/ Arthur X. Suazo
	 	Name:	Arthur X. Suazo
	 	
        Title:
	Executive Vice President

 

	 	TENANT:
	 	 
	 	IOVANCE BIOTHERAPEUTICS, INC., a

Delaware corporation

 

	 	By:	/s/ Maria Fardis
	 	Name:	Maria Fardis
	 	Title:	President and Chief Executive Officer

 

    	 	22	 

     

    

 

EXHIBIT A

 

SKYWAY LANDING II

 

OUTLINE OF PREMISES

 

 

 

    	 	1	 

     

    

 

EXHIBIT B

 

SKYWAY LANDING II

 

LANDLORD WORK LETTER

 

As used in this Exhibit B
(the “Landlord Work Letter”), the following terms shall have the following meanings:

 

		(i)	“Tenant Improvements” means all improvements to be constructed in the Premises
pursuant to this Landlord Work Letter;

 

		(ii)	“Tenant Improvement Work” means the construction of the Tenant Improvements,
together with any related work (including demolition) that is necessary to construct the Tenant Improvements;

 

		(iii)	“law” means Law; and

 

		(iv)	“Agreement” means the lease of which this Landlord Work Letter is a part.

 

	1	COST OF TENANT IMPROVEMENT WORK. Except as provided
in Section 2.7 below, the Tenant Improvement Work shall be performed at Landlord’s expense.

 

	2	WORK LIST.

 

2.1       Work
List. Landlord shall perform improvements to the Premises in accordance with the following work list (as used in this Exhibit
B, “Work List”) using Building-standard methods, materials and finishes.

 

WORK LIST

 

	ITEM
	1.        Those certain improvements shown on the Suite 100 & 125 Demising Pricing Plan prepared by ID/Architecture dated June 27, 2018, attached hereto as Exhibit B-2.
	2.        Those certain improvements shown on the Equipment Removal Plan prepared by ID/Architecture dated June 7, 2018, attached hereto as Exhibit B-3.

 

2.2       [Intentionally
Omitted]

 

2.3       [Intentionally
Omitted]

 

2.4       [Intentionally
Omitted]

 

2.5       [Intentionally
Omitted]

 

2.6       [Intentionally
Omitted]

 

2.7       Revisions
to Work List. The Work List shall not be revised without Landlord’s agreement, which agreement may be withheld or
conditioned in Landlord’s sole and absolute discretion. If Tenant requests any revision to the Work List, Landlord shall
provide Tenant with notice approving or disapproving such revision, and, if Landlord approves such revision, Landlord shall have
such revision made and delivered to Tenant, together with notice of any resulting change in the cost of the Tenant Improvement
Work, within 10 business days after the later of Landlord’s receipt of such request or the mutual execution and delivery
of this Agreement if such revision is not material, and within such longer period of time as may be reasonably necessary (but not
more than 15 business days after the later of such receipt or such execution and delivery) if such revision is material, whereupon
Tenant, within one (1) business day, shall notify Landlord whether it desires to proceed with such revision. If Landlord has
begun performing the Tenant Improvement Work, then, in the absence of such authorization, Landlord shall have the option to continue
such performance disregarding such revision. Landlord shall not revise the Work List without Tenant’s consent, which shall
not be unreasonably withheld or conditioned. Tenant shall approve, or reasonably disapprove (and state, with reasonable specificity,
its reasons for disapproving), any revision to the Work List within two (2) business days after receiving Landlord’s
request for approval thereof. Any change order affecting the Work List shall be deemed a revision to the Work List. Tenant shall
reimburse Landlord, immediately upon demand, for any increase in the total cost associated with the Tenant Improvement Work that
results from any revision to the Work List requested by Tenant, including the cost of preparing such revision.

 

    	 	2	 

     

    

 

2.8       [Intentionally
Omitted]

 

	3	CONSTRUCTION.

 

3.1       Contractor.
Landlord shall retain a contractor of its choice (as used in this Exhibit B, the “Contractor”)
to perform the Tenant Improvement Work. In addition, Landlord may select and/or approve of any subcontractors, mechanics and materialmen
used in connection with the performance of the Tenant Improvement Work.

 

3.2       [Intentionally
Omitted]

 

3.3       Permits.
Landlord shall cause the Contractor to apply to the appropriate municipal authorities for, and obtain from such authorities, all
permits necessary for the Contractor to complete the Tenant Improvement Work (as used in this Exhibit B, the “Permits”).

 

3.4       Construction

 

3.4.1       Performance
of Tenant Improvement Work. Landlord shall cause the Contractor to perform the Tenant Improvement Work in accordance with the
Work List.

 

3.4.2       Contractor’s
Warranties. Tenant waives all claims against Landlord relating to any defects in the Tenant Improvements; provided, however,
that if, within 30 days after substantial completion of the Tenant Improvement Work, Tenant provides notice to Landlord of
any non-latent defect in the Tenant Improvements, or if, within 11 months after substantial completion of the Tenant Improvement
Work, Tenant provides notice to Landlord of any latent defect in the Tenant Improvements, then Landlord shall promptly cause such
defect to be corrected.

 

4             COMPLIANCE
WITH LAW; SUITABILITY FOR TENANT’S USE. Landlord shall cause the Work List to comply with law. Except as provided in
the preceding sentence, Tenant shall be responsible for ensuring that the Work List is suitable for Tenant’s use of the Premises,
and neither the preparation nor the approval of the Work List by Landlord or its consultants shall relieve Tenant from such responsibility.
Landlord may contest any alleged violation of law in good faith, including by seeking a waiver or deferment of compliance, asserting
any defense allowed by law, and exercising any right of appeal (provided that, after completing such contest, Landlord makes any
modification to the Work List or any alteration to the Premises that is necessary to comply with any final order or judgment).

 

5            COMPLETION.
Tenant acknowledges and agrees that the Tenant Improvement Work shall be performed during normal business hours after the Commencement
Date. Landlord and Tenant shall cooperate with each other in order to enable the Tenant Improvement Work to be performed in a timely
manner and with as little inconvenience to the operation of Tenant’s business as is reasonably possible. Notwithstanding
any contrary provision of this Agreement, any delay in the completion of the Tenant Improvement Work or inconvenience suffered
by Tenant during the performance of the Tenant Improvement Work shall not delay the Commencement Date, nor shall it subject Landlord
to any liability for any loss or damage resulting therefrom or entitle Tenant to any credit, abatement or adjustment of rent or
other sums payable under the Lease.

 

6.            MISCELLANEOUS.
Notwithstanding any contrary provision of this Agreement, if Tenant defaults under this Agreement before the Tenant Improvement
Work is completed, Landlord’s obligations under this Landlord Work Letter shall be excused until such default is cured and
Tenant shall be responsible for any resulting delay in the completion of the Tenant Improvement Work. This Landlord Work Letter
shall not apply to any space other than the Premises.

 

    	 	3	 

     

    

 

EXHIBIT B-1

 

SKYWAY LANDING II

 

WORK LETTER

 

As used in this Exhibit B-1
(for purposes of this Exhibit B-1, the “Work Letter”), the following terms shall have the following
meanings:

 

		(v)	“Tenant Improvements” means all improvements to be constructed in the Premises
pursuant to this Work Letter;

 

		(vi)	“Tenant Improvement Work” means the construction of the Tenant Improvements,
together with any related work (including demolition) that is necessary to construct the Tenant Improvements;

 

		(vii)	“law” means Law; and

 

		(viii)	“Agreement” means the lease of which this Work Letter is a part.

 

		1.	ALLOWANCE.

 

1.1         Allowance.
Tenant shall be entitled to a one-time tenant improvement allowance (for purposes of this Exhibit B-1, the “Allowance”)
in the amount of $147,864.00 to be applied toward the Allowance Items (defined in Section 1.2 below) applicable to
the Premises, as defined above. Tenant shall be responsible for all costs associated with the Tenant Improvement Work, including
the costs of the Allowance Items, to the extent such costs exceed the lesser of (a) the Allowance, or (b) the aggregate
amount that Landlord is required to disburse for such purpose pursuant to this Work Letter. Notwithstanding any contrary provision
of this Agreement, if Tenant fails to use the entire Allowance by November 30, 2020, the unused amount shall revert to Landlord
and Tenant shall have no further rights with respect thereto.

 

1.2         Disbursement
of Allowance.

 

1.2.1        Allowance
Items. Except as otherwise provided in this Work Letter, the Allowance shall be disbursed by Landlord only for the following
items (for purposes of this Exhibit B-1, the “Allowance Items”): (a) the fees of Tenant’s
architect and engineers, if any, and any Review Fees (defined in Section 2.3 below); (b) [Intentionally Omitted];
(c) plan-check, permit and license fees relating to performance of the Tenant Improvement Work; (d) the cost of performing
the Tenant Improvement Work (including, without limitation, the installation of new Lines, the modification of existing Lines,
upgrades to electrical and/or mechanical systems), including after-hours charges, testing and inspection costs, freight elevator
usage, hoisting and trash removal costs, and contractors’ fees and general conditions; (e) the cost of any change to
the base, shell or core of the Premises or Building required by Tenant’s plans and specifications (for purposes of this Exhibit
B-1, the “Plans”) (including if such change is due to the fact that such work is prepared on an unoccupied
basis), including all direct architectural and/or engineering fees and expenses incurred in connection therewith; (f) the
cost of any change to the Plans or the Tenant Improvement Work required by law; (g) the Coordination Fee (defined in Section 2.3
below); (h) sales and use taxes; and (i) all other costs expended by Landlord in connection with the performance of the
Tenant Improvement Work.

 

1.2.2        Disbursement.
Subject to the terms hereof, Landlord shall make monthly disbursements of the Allowance for Allowance Items as follows:

 

1.2.2.1       Monthly
Disbursements. Not more frequently than once per calendar month, Tenant may deliver to Landlord: (i) a request for payment
of Tenant’s contractor, approved by Tenant, in AIA G-702/G-703 format or another format reasonably requested by Landlord,
showing the schedule of values, by trade, of percentage of completion of the Tenant Improvement Work, detailing the portion of
the work completed and the portion not completed (which approved request shall be deemed Tenant’s approval and acceptance
of the work and materials described therein); (ii) copies of all third-party contracts (including change orders) pursuant
to which Allowance Items have been incurred (collectively, for purposes of this Exhibit B-1, the “Tenant
Improvement Contracts”); (iii) copies of invoices for all labor and materials provided to the Premises and covered
by such request for payment; (iv) executed conditional mechanic’s lien releases from all parties who have provided such
labor or materials to the Premises (along with executed unconditional mechanic’s lien releases for any prior payments made
pursuant to this paragraph) satisfying California Civil Code §§ 8132 and/or 8134, as applicable; and (v) all
other information reasonably requested by Landlord. Subject to the terms hereof, within 30 days after receiving such materials,
Landlord shall deliver a check to Tenant, payable jointly to Tenant and its contractor, in the amount of the lesser of (a) Landlord’s
Share (defined below) of the amount requested by Tenant pursuant to the preceding sentence, less a 10% retention (the aggregate
amount of such retentions shall be referred to in this Work Letter as the “Final Retention”), or (b) the
amount of any remaining portion of the Allowance (not including the Final Retention). Landlord’s payment of such amounts
shall not be deemed Landlord’s approval or acceptance of the work or materials described in Tenant’s payment request.
As used in this Section 1.2.2.1, “Landlord’s Share” means the lesser of (i) 100%, or
(ii) the percentage obtained by dividing the Allowance by the estimated sum of all Allowance Items, as determined based on
the Tenant Improvement Contracts.

 

    	 	1	 

     

    

 

1.2.2.2       Final
Retention. Subject to the terms hereof, Landlord shall deliver to Tenant a check for the Final Retention, together with any
other undisbursed portion of the Allowance required to pay for the Allowance Items, within 30 days after the latest of (a) the
completion of the Tenant Improvement Work in accordance with the approved plans and specifications; (b) Landlord’s receipt
of (i) copies of all Tenant Improvement Contracts; (ii) copies of invoices for all labor and materials provided to the
Premises; (iii) executed unconditional mechanic’s lien releases satisfying California Civil Code § 8134 for
all prior payments made pursuant to Section 1.2.2.1 above (to the extent not previously provided to Landlord), together
with executed unconditional final mechanic’s lien releases satisfying California Civil Code § 8138 for all labor
and materials provided to the Premises subject to the Final Retention; (iv) a certificate from Tenant’s architect, in
a form reasonably acceptable to Landlord, certifying that the Tenant Improvement Work has been substantially completed; (v) evidence
that all governmental approvals required for Tenant to legally occupy the Premises have been obtained; and (vi) any other
information reasonably requested by Landlord; (c) Tenant’s delivery to Landlord of “as built” drawings (in
CAD format, if requested by Landlord); or (d) Tenant’s compliance with Landlord’s standard “close-out”
requirements regarding city approvals, closeout tasks, Tenant’s contractor, financial close-out matters, and Tenant’s
vendors. Landlord’s payment of the Final Retention shall not be deemed Landlord’s approval or acceptance of the work
or materials described in Tenant’s payment requests.]

 

		2.	MISCELLANEOUS.

 

2.1        Applicable
Lease Provisions. Without limitation, the Tenant Improvement Work shall be subject to Sections 7.2, 7.3
and 8 of this Agreement.

 

2.2        Plans
and Specifications. Landlord shall provide Tenant with notice approving or disapproving any proposed plans and specifications
for the Tenant Improvement Work within the Required Period (defined below) after the later of Landlord’s receipt thereof
from Tenant or the mutual execution and delivery of this Agreement. As used in this Exhibit B-1, “Required
Period” means (a) 15 business days in the case of construction drawings, and (b) 10 business days in the case
of any other plans and specifications (including a space plan). Any such notice of disapproval shall describe with reasonable specificity
the basis for Landlord’s disapproval and the changes that would be necessary to resolve Landlord’s objections.

 

2.3        Review
Fees; Coordination Fee. Tenant shall reimburse Landlord, upon demand, for any fees reasonably incurred by Landlord for
review of the Plans by Landlord’s third party consultants (for purposes of this Exhibit B-1, the “Review
Fees”). In consideration of Landlord’s coordination of the Tenant Improvement Work, Tenant shall pay Landlord a
fee (for purposes of this Exhibit B-1, the “Coordination Fee”) in an amount equal to 2.00% of
the cost of the Tenant Improvement Work.

 

2.4        Tenant
Default. Notwithstanding any contrary provision of this Agreement, if Tenant defaults under this Agreement before the Tenant
Improvement Work is completed, then (a) Landlord’s obligations under this Work Letter shall be excused, and Landlord
may cause Tenant’s contractor to cease performance of the Tenant Improvement Work, until such default is cured, and (b) Tenant
shall be responsible for any resulting delay in the completion of the Tenant Improvement Work.

 

2.5        Other.
This Work Letter shall not apply to any space other than the Premises.

 

    	 	2	 

     

    

 

EXHIBIT B-2

 

SKYWAY LANDING II

 

SUITE 100 &
125 DEMISING PRICING PLAN

 

 

 

    	 	3	 

     

    

 

EXHIBIT B-3

 

SKYWAY LANDING II

 

EQUIPMENT REMOVAL
PLAN

 

 

    	 	4	 

     

    

 

EXHIBIT B-4

 

SKYWAY LANDING II

 

POTENTIAL SPACE PLAN

 

 

 

    	 	5	 

     

    

 

EXHIBIT C

 

SKYWAY LANDING II

 

CONFIRMATION LETTER

 

_____________________,
20__

 

	To:	 	 
	 	 	 
	 	 	 
	 	 	 

 

Re:Office Lease
(the “Lease”) dated __________ ____, 2018, between HUDSON SKYWAY LANDING, LLC, a Delaware limited liability
company (“Landlord”), and IOVANCE BIOTHERAPEUTICS, INC., a Delaware corporation (“Tenant”),
concerning Suite 125 on the first floor of the building located at 999 Skyway Road, San Carlos, California, commonly known as Skyway
Landing II.

 

Dear _________________:

 

In accordance with
the Lease, Tenant accepts possession of the Premises and confirms the following:

 

		1.	The Commencement Date is _____________ and the Expiration Date is _______________.

 

		2.	The exact number of rentable square feet within the Premises is 12,322 square feet.

 

		3.	Tenant’s Share, based upon the exact number of rentable square feet within the Premises,
is 10.3987%.

 

Please acknowledge
the foregoing by signing all three (3) counterparts of this letter in the space provided below and returning two (2)
fully executed counterparts to my attention.

 

 

	 	“Landlord”:
	 	 
	 	HUDSON SKYWAY LANDING, LLC,
	 	a Delaware limited liability company

 

	 	By:	Hudson Pacific Properties, L.P.,
	 	 	a Maryland limited partnership,
	 	 	its sole member

 

	 	By:	Hudson Pacific Properties, Inc.,
	 	 	a Maryland corporation,
	 	 	its general partner

 

	 	By: 	 
	 	Name:	 
	 	Title:	 

 

	Agreed and Accepted as of  , 20  .	 
	“Tenant”:	 
	 	 
	IOVANCE BIOTHERAPEUTICS, INC., a

Delaware corporation 	 

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

    	 	1	 

     

    

 

EXHIBIT D

 

SKYWAY LANDING II

 

RULES AND REGULATIONS

 

Tenant shall comply
with the following rules and regulations (as modified or supplemented from time to time, the “Rules and Regulations”).
Landlord shall not be responsible to Tenant for the nonperformance of any of the Rules and Regulations by any other tenants or
occupants of the Project. In the event of any conflict between the Rules and Regulations and the other provisions of this Lease,
the latter shall control.

 

1.       Tenant
shall not alter any lock or install any new or additional locks or bolts on any doors or windows of the Premises without obtaining
Landlord’s prior consent. Tenant shall bear the cost of any lock changes or repairs required by Tenant. Two (2) keys
will be furnished by Landlord for the Premises, and any additional keys required by Tenant must be obtained from Landlord at a
reasonable cost to be established by Landlord. Upon the termination of this Lease, Tenant shall restore to Landlord all keys of
stores, offices and toilet rooms furnished to or otherwise procured by Tenant, and if any such keys are lost, Tenant shall pay
Landlord the cost of replacing them or of changing the applicable locks if Landlord deems such changes necessary.

 

2.       All
doors opening to public corridors shall be kept closed at all times except for normal ingress and egress to the Premises.

 

3.        Landlord
may close and keep locked all entrance and exit doors of the Building during such hours as are customary for Comparable Buildings.
Tenant shall cause its employees, agents, contractors, invitees and licensees who use Building doors during such hours to securely
close and lock them after such use. Any person entering or leaving the Building during such hours, or when the Building doors are
otherwise locked, may be required to sign the Building register (if applicable), and access to the Building may be refused unless
such person has proper identification or has a previously arranged access pass. Landlord will furnish passes to persons for whom
Tenant requests them. Tenant shall be responsible for all persons for whom Tenant requests passes and shall be liable to Landlord
for all acts of such persons. Landlord and its agents shall not be liable for damages for any error with regard to the admission
or exclusion of any person to or from the Building. In case of invasion, mob, riot, evacuation, public excitement or other commotion,
Landlord may prevent access to the Building or the Project during the continuance thereof by any means it deems appropriate for
the safety and protection of life and property.

 

4.       No
furniture, freight or equipment shall be brought into the Building without prior notice to Landlord. All moving activity into or
out of the Building shall be scheduled with Landlord and done only at such time and in such manner as Landlord designates. Landlord
may prescribe the weight, size and position of all safes and other heavy property brought into the Building and also the times
and manner of moving the same in and out of the Building. Safes and other heavy objects shall, if considered necessary by Landlord,
stand on supports of such thickness as is necessary to properly distribute the weight. Landlord will not be responsible for loss
of or damage to any such safe or property. Any damage to the Building, its contents, occupants or invitees resulting from Tenant’s
moving or maintaining any such safe or other heavy property shall be the sole responsibility and expense of Tenant (notwithstanding
Sections 7 and 10.4 of this Lease).

 

5.       No
furniture, packages, supplies, equipment or merchandise will be received in the Building or carried up or down in the elevators,
except between such hours, in such specific elevator and by such personnel as shall be designated by Landlord.

 

6.       Employees
of Landlord shall not perform any work or do anything outside their regular duties unless under special instructions from Landlord.

 

7.       No
sign, advertisement, notice or handbill shall be exhibited, distributed, painted or affixed by Tenant on any part of the Premises
or the Building without Landlord’s prior consent. Tenant shall not disturb, solicit, peddle or canvass any occupant of the
Project.

 

8.       The
toilet rooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than that for which they were constructed,
and no foreign substance shall be thrown therein. Notwithstanding Sections 7 and 10.4 of this Lease, Tenant
shall bear the expense of any breakage, stoppage or damage resulting from any violation of this rule by Tenant or any of its employees,
agents, contractors, invitees or licensees.

 

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9.       Tenant
shall not overload the floor of the Premises, or mark, drive nails or screws or drill into the partitions, woodwork or drywall
of the Premises, or otherwise deface the Premises, without Landlord’s prior consent. Tenant shall not purchase bottled water,
ice, towel, linen, maintenance or other like services from any person not approved by Landlord.

 

10.      Except
for snack and soft drink vending machines at locations within the Premises reasonably approved by Landlord and intended for the
sole use of Tenant’s employees and invitees, no vending machine shall be installed, maintained or operated in the Premises
without Landlord’s prior consent.

 

11.     Tenant
shall not, without Landlord’s prior consent, use, store, install, disturb, spill, remove, release or dispose of, within or
about the Premises or any other portion of the Project, any asbestos-containing materials, any solid, liquid or gaseous material
now or subsequently considered toxic or hazardous under the provisions of 42 U.S.C. Section 9601 et seq. or any other applicable
environmental Law, or any inflammable, explosive or dangerous fluid or substance; provided, however, that Tenant may use, store
and dispose of such substances in such amounts as are typically found in similar premises used for general office purposes provided
that such use, storage and disposal does not damage any part of the Premises, Building or Project and is performed in a safe manner
and in accordance with all Laws. Tenant shall comply with all Laws pertaining to and governing the use of such materials by Tenant
and shall remain solely liable for the costs of abatement and removal. No burning candle or other open flame shall be ignited or
kept by Tenant in or about the Premises, Building or Project.

 

12.      Tenant
shall not, without Landlord’s prior consent, use any method of heating or air conditioning other than that supplied by Landlord.

 

13.     Tenant
shall not use or keep any foul or noxious gas or substance in or on the Premises, or occupy or use the Premises in a manner offensive
or objectionable to Landlord or other occupants of the Project by reason of noise, odors or vibrations, or interfere with other
occupants or those having business therein, whether by the use of any musical instrument, radio, CD player or otherwise. Tenant
shall not throw anything out of doors, windows or skylights or down passageways.

 

14.     Tenant
shall not bring into or keep within the Project, the Building or the Premises any animals (other than service animals legally required
to be admitted), birds, aquariums, or, except in areas designated by Landlord, bicycles or other vehicles.

 

15.      No
cooking shall be done in the Premises, nor shall the Premises be used for lodging, for living quarters or sleeping apartments,
or for any improper, objectionable or immoral purposes. Notwithstanding the foregoing, Underwriters’ laboratory-approved
equipment and microwave ovens may be used in the Premises for heating food and brewing coffee, tea, hot chocolate and similar beverages
for employees and invitees, provided that such use complies with all Laws.

 

16.     The
Premises shall not be used for manufacturing or for the storage of merchandise except to the extent such storage may be incidental
to the Permitted Use. Tenant shall not occupy the Premises as an office for a messenger-type operation or dispatch office, or for
the manufacture or sale of liquor, narcotics or tobacco, or as a medical office, a barber or manicure shop, or an employment bureau.

 

17.      Landlord
may exclude from the Project any person who, in Landlord’s judgment, is intoxicated or under the influence of liquor or drugs,
or who violates any of these Rules and Regulations.

 

18.     Tenant
shall not loiter in or on the entrances, corridors, sidewalks, lobbies, courts, halls, stairways, elevators, vestibules or any
Common Areas for the purpose of smoking tobacco products or for any other purpose, nor in any way obstruct such areas, and shall
use them only as a means of ingress and egress for the Premises.

 

19.     Tenant
shall not waste electricity, water or air conditioning, shall cooperate with Landlord to ensure the most effective operation of
the Building’s heating and air conditioning system, and shall not attempt to adjust any controls. Tenant shall install and
use in the Premises only ENERGY STAR rated equipment, where available. Tenant shall use recycled paper in the Premises to the extent
consistent with its business requirements.

 

20.     Tenant
shall store all its trash and garbage inside the Premises. No material shall be placed in the trash or garbage receptacles if,
under Law, it may not be disposed of in the ordinary and customary manner of disposing of trash and garbage in the vicinity of
the Building. All trash, garbage and refuse disposal shall be made only through entryways and elevators provided for such purposes
at such times as Landlord shall designate. Tenant shall comply with Landlord’s recycling program, if any.

 

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21.     Tenant
shall comply with all safety, fire protection and evacuation procedures and regulations established by Landlord or any governmental
agency. Tenant shall not, without Landlord's prior written consent (which consent may be granted or withheld in Landlord's sole
and absolute discretion), allow any employee, contractor or agent to carry any type of gun or other firearm in or about the Premises,
the Building or the Project.

 

22.     Any
persons employed by Tenant to do janitorial work (a) shall be subject to Landlord’s prior consent; (b) shall not,
in Landlord’s reasonable judgment, disturb labor harmony with any workforce or trades engaged in performing other work or
services at the Project; and (c) while in the Building and outside of the Premises, shall be subject to the control
and direction of the Building manager (but not as an agent or employee of such manager or Landlord), and Tenant shall be responsible
for all acts of such persons.

 

23.      No
awning or other projection shall be attached to the outside walls of the Building. Other than Landlord’s Building-standard
window coverings, no curtains, blinds, shades or screens shall be attached to or hung in, or used in connection with, any window
or door of the Premises. All electrical ceiling fixtures hung in the Premises or spaces along the perimeter of the Building must
be fluorescent and/or of a quality, type, design and a warm white bulb color approved in advance by Landlord. Neither the interior
nor exterior of any windows shall be coated or otherwise sunscreened. Tenant shall abide by Landlord’s regulations concerning
the opening and closing of window coverings.

 

24.     Tenant
shall not obstruct any sashes, sash doors, skylights, windows or doors that reflect or admit light or air into the halls, passageways
or other public places in the Building, nor shall Tenant place any bottles, parcels or other articles on the windowsills.

 

25.     Tenant
must comply with requests by Landlord concerning the informing of their employees of items of importance to the Landlord.

 

26.     Tenant
must comply with the State of California “No-Smoking” law set forth in California Labor Code Section 6404.5 (as
may be amended or replaced) and with any local “No-Smoking” ordinance that is not superseded by such law.

 

27.     Tenant
shall cooperate in any safety or security program developed by Landlord or required by Law.

 

28.     All
office equipment of an electrical or mechanical nature shall be placed by Tenant in the Premises in settings approved by Landlord,
to absorb or prevent any vibration, noise or annoyance.

 

29.     Tenant
shall not use any hand trucks except those equipped with rubber tires and rubber side guards.

 

30.     No
auction, liquidation, fire sale, going-out-of-business or bankruptcy sale shall be conducted in the Premises without Landlord’s
prior consent.

 

31.     Without
Landlord’s prior consent, Tenant shall not use the name of the Project or Building or use pictures or illustrations of the
Project or Building in advertising or other publicity or for any purpose other than as the address of the business to be conducted
by Tenant in the Premises.

 

Landlord may from time
to time modify or supplement these Rules and Regulations in a manner that, in Landlord’s reasonable judgment, is appropriate
for the management, safety, care and cleanliness of the Premises, the Building, the Common Areas and the Project, for the preservation
of good order therein, and for the convenience of other occupants and tenants thereof, provided that no such modification or supplement
shall materially reduce Tenant’s rights or materially increase Tenant’s obligations hereunder. Landlord may waive any
of these Rules and Regulations for the benefit of any tenant, but no such waiver shall be construed as a waiver of such Rule and
Regulation in favor of any other tenant nor prevent Landlord from thereafter enforcing such Rule and Regulation against any tenant.
Notwithstanding the foregoing, no rule that is added to the initial Rules and Regulations shall be enforced against Tenant in a
manner that unreasonably discriminates in favor of any other similarly situated tenant.

 

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EXHIBIT E

 

SKYWAY LANDING II

 

JUDICIAL REFERENCE

 

IF
THE JURY-WAIVER PROVISIONS OF SECTION 25.8 OF THIS LEASE ARE NOT ENFORCEABLE UNDER CALIFORNIA LAW, THE PROVISIONS SET
FORTH BELOW SHALL APPLY.

 

(a)      It
is the desire and intention of the parties to agree upon a mechanism and procedure under which controversies and disputes arising
out of this Lease or related to the Premises will be resolved in a prompt and expeditious manner. Accordingly, subject to the exclusions
set forth in (b) below, any and every action, proceeding or cross-claim brought by either party hereto against the other (and/or
against its officers, directors, employees, agents or subsidiaries or affiliated entities) on any matters arising out of or in
any way connected with this Lease, Tenant’s use or occupancy of the Premises and/or any claim of injury or damage, whether
sounding in contract, tort, or otherwise, shall be heard and resolved by a referee under the provisions of the California Code
of Civil Procedure, Sections 638 — 645.1, inclusive (as same may be amended, or any successor statute(s) thereto) (the “Referee
Sections”).

 

(b)      Excluded
from the requirement of judicial reference set forth above are (i) actions to seek emergency injunctive relief, preliminary injunctive
relief, unlawful or forcible detainer, or a prejudgment writ of attachment and (ii) any dispute for which an alternative dispute
resolution procedure is otherwise expressly provided in the Lease (including any exhibits thereto). The actions described in (i)
above may be brought in the trial court in the county in which the Premises are located; provided, however, that as soon as practicable
after the trial court rules on one or more of the above issues, the parties shall refer the lawsuit, and any remaining issues,
controversies, or disputes to a referee, as provided in this section and the Referee Sections.

 

(c)      Any
fee to initiate the judicial reference proceedings and all fees charged and costs incurred by the referee shall be paid by the
party initiating such procedure (except that if a reporter is requested by either party, then a reporter shall be present at all
proceedings where requested and the fees of such reporter – except for copies ordered by the other parties – shall
be borne by the party requesting the reporter); provided however, that allocation of the costs and fees, including any initiation
fee, of such proceeding shall be ultimately determined in accordance with Section 25.6 of this Lease.

 

(d)     The
exclusive venue of the proceedings shall be in the county in which the Premises are located.

 

(e)      Within
10 days of receipt by any party of a request to resolve any dispute or controversy pursuant to this Exhibit E,
the parties shall agree upon a single referee who shall try all issues, whether of fact or law, and report a finding and judgment
on such issues as required by the Referee Sections. If the parties are unable to agree upon a referee within such 10-day period,
then any party may thereafter file a lawsuit in the county in which the Premises are located for the purpose of appointment of
a referee under the Referee Sections. If the referee is appointed by the court, the referee shall be a neutral and impartial retired
judge with substantial experience in the relevant matters to be determined, from the panels offered by JAMS or ADR Services, Inc.
The proposed referee may be challenged by any party for any of the grounds listed in the Referee Sections. The referee shall have
the power to decide all issues of fact and law and report his or her decision on such issues, and to issue all recognized remedies
available at law or in equity for any cause of action that is before the referee, including an award of attorneys’ fees and
costs in accordance with this Lease. The referee shall not, however, have the power to award punitive damages, nor shall the referee
have the power to award any other damages that are not permitted by the express provisions of this Lease, and the parties waive
any right to recover such damages.

 

(f)       The
parties may conduct all discovery as provided in the California Code of Civil Procedure, and the referee shall oversee discovery
and may enforce all discovery orders in the same manner as any trial court judge, with rights to regulate discovery and to issue
and enforce subpoenas, protective orders and other limitations on discovery available under California Law.

 

(g)      The
reference proceeding shall be conducted in accordance with California Law (including the rules of evidence), and in all regards,
the referee shall follow California Law applicable at the time of the reference proceeding. The parties shall promptly and diligently
cooperate with one another and the referee, and shall perform such acts as may be necessary to obtain a prompt and expeditious
resolution of the dispute or controversy in accordance with the terms of this Exhibit E.
In this regard, the parties agree that the parties and the referee shall use best efforts to ensure that (a) discovery, including
all expert discovery (but excluding motions regarding discovery) be concluded within six (6) months of the date of the appointment
of the referee, and (b) a trial date be set so that the trial proceeding is held no more than nine (9) months after the date of
the appointment of the referee.

 

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(h)      In
accordance with Section 644 of the California Code of Civil Procedure, the decision of the referee upon the whole issue must stand
as the decision of the court, and upon the filing of the statement of decision with the clerk of the court, or with the judge if
there is no clerk, judgment may be entered thereon in the same manner as if the action had been tried by the court. Any decision
of the referee and/or judgment or other order entered thereon shall be appealable to the same extent and in the same manner that
such decision, judgment, or order would be appealable if rendered by a judge of the superior court in which venue is proper hereunder.
The referee shall in his/her statement of decision set forth his/her findings of fact and conclusions of law. The parties intend
this general reference agreement to be specifically enforceable in accordance with the Code of Civil Procedure. Nothing in this
Exhibit E shall prejudice the right of any party to obtain provisional relief or
other equitable remedies from a court of competent jurisdiction as shall otherwise be available under the Code of Civil Procedure
and/or applicable court rules.

 

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EXHIBIT F

 

SKYWAY LANDING II

 

ADDITIONAL PROVISIONS

 

		1.	California Civil Code Section 1938.
Pursuant to California Civil Code § 1938, Landlord hereby states that the Premises have not undergone inspection by
a Certified Access Specialist (CASp) (defined in California Civil Code § 55.52).

 

Accordingly, pursuant to California
Civil Code § 1938(e), Landlord hereby further states as follows: “A Certified Access Specialist (CASp) can inspect the
subject premises and determine whether the subject premises comply with all of the applicable construction-related accessibility
standards under state law. Although state law does not require a CASp inspection of the subject premises, the commercial property
owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy
or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties shall mutually agree on the arrangements
for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs
necessary to correct violations of construction-related accessibility standards within the premises”.

 

In accordance with the foregoing,
Landlord and Tenant agree that if Tenant requests a CASp inspection of the Premises, then Tenant shall pay (i) the fee for such
inspection, and (ii) to the extent expressly provided in this Lease, the cost of making any repairs necessary to correct violations
of construction-related accessibility standards within the Premises.

 

		2.	Environmental Indemnity.  Landlord will indemnify, defend, hold harmless and
reimburse Tenant and Tenant Parties from and against any and all fines and reasonable direct remedial costs and expenses (including
reasonable legal expenses and consultants’ fees) (collectively, for purposes of this Section 2, “Costs”)
that Tenant may incur due to a clean-up, abatement, removal, or other remedial response required of Tenant by an appropriate governmental
authority resulting from or caused by the introduction, production, use, generation, storage, treatment, disposal, discharge, release
or other handling or disposition of any Hazardous Materials in or about the Premises, Building, Property and/or Project. 
However, this indemnity provision will not apply to any Costs (a) caused by the negligence or intentional misconduct of Tenant
or any other Tenant Parties or the contractors or invitees of Tenant or the Tenant Parties, or (b) to the extent costs result from
(i) any Hazardous Materials introduced to, produced, used, stored, treated, handled or generated at (or disposed, discharged or
released at or from) the Premises, Building, Property and/or Project by, or disturbed, distributed or exacerbated by, Tenant, any
other Tenant Parties or the contractors or the invitees thereof, (ii) any default by Tenant of the terms of the Lease and/or (iii)
any act of (or to be taken by) Tenant, any other Tenant Parties or the contractors or the invitees thereof.  In addition,
the foregoing indemnity obligation shall not bind any party that acquires Landlord’s interest in the Property by foreclosure
or deed in lieu of foreclosure, except to the extent of any Costs incurred as a result of any clean-up, abatement, removal, or
other remedial response that such party was required under applicable law to perform, but failed to perform, after such acquisition. 
Nothing in this Section 2 shall be interpreted as imposing any liability on Landlord for any other costs or expenses
incurred by Tenant or any of the Tenant Parties (including, without limitation, lost sales or profits of such parties) relating
to the presence of Hazardous Materials at the Premises, Building, Property and/or Project.

 

		3.	Right of First Offer.

 

		3.1.	Grant of Option; Conditions.

 

		A.	Subject to the terms of this Section 3, Tenant shall have a right of first offer (“Right
of First Offer”) with respect to each of the following suites (and with respect to each portion of such suites) (each
such suite or portion thereof, a “Potential Offering Space”): (1) the 8,820 rentable square feet known as Suite
No. 145 on the first floor of the Building and (2) the 8,110 rentable square feet known as Suite No. 100 on the first floor of
the Building, each of which is shown on the demising plan attached to the Lease as Exhibit G. Tenant’s
Right of First Offer shall be exercised as follows: At any time after Landlord has determined that a Potential Offering Space has
become Available (defined below), but before leasing such Potential Offering Space to a third party, Landlord, subject to the terms
of this Section 3, shall provide Tenant with a written notice (for purposes of this Section 3, an “Advice”)
advising Tenant of the material terms on which Landlord is prepared to lease such Potential Offering Space (sometimes referred
to herein as an “Offering Space”) to Tenant, which terms shall be consistent with Section 3.2 below.
For purposes hereof, a Potential Offering Space shall be deemed to become “Available” as follows: (i) if
such Potential Offering Space is not leased to a third party as of the date of mutual execution and delivery of this Lease, such
Potential Offering Space shall be deemed to become Available when Landlord has located a prospective tenant that may be interested
in leasing such Potential Offering Space; and (ii) if such Potential Offering Space is leased to a third party as of the date
of mutual execution and delivery of this Lease, such Potential Offering Space shall be deemed to become Available when Landlord
has determined that such third-party tenant, and any occupant of such Potential Offering Space claiming under such third-party
tenant, will not extend or renew the term of its lease, or enter into a new lease, for such Potential Offering Space. Upon receiving
an Advice, Tenant may lease the Offering Space, in its entirety only, under the terms set forth in the Advice, by delivering to
Landlord a written notice of exercise (for purposes of this Section 3, a “Notice of Exercise”) within
five (5) days after receiving the Advice.

 

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		B.	If Tenant receives an Advice but does not deliver a Notice of Exercise within the period of time
required under Section 3.1.A above, Landlord may lease the Offering Space to any party on any terms determined by Landlord
in its sole and absolute discretion.

 

		C.	Notwithstanding any contrary provision hereof, (i) Landlord shall not be required to provide
Tenant with an Advice if any of the following conditions exists when Landlord would otherwise deliver the Advice; and (ii) if
Tenant receives an Advice from Landlord, Tenant shall not be entitled to lease the Offering Space based on such Advice if any of
the following conditions exists:

 

		(1)	a Default exists;

 

		(2)	all or any portion of the Premises is sublet, other than to an Affiliate of Tenant;

 

		(3)	the Lease has been assigned, other than pursuant to a Permitted Transfer; or

 

		(4)	Tenant is not occupying the Premises.

 

If, by operation of the preceding
sentence, Landlord is not required to provide Tenant with an Advice, or Tenant, after receiving an Advice, is not entitled to lease
the Offering Space based on such Advice, then Landlord may lease the Offering Space to any party on any terms determined by Landlord
in its sole and absolute discretion.

 

		3.2.	Terms for Offering Space.

 

		A.	The term for the Offering Space shall be coterminous with the term for the balance of the Premises.

 

		B.	The term for the Offering Space shall commence on the commencement date stated in the Advice and
thereupon the Offering Space shall be considered a part of the Premises subject to the provisions of the Lease; provided, however,
that the provisions of the Advice shall prevail to the extent they conflict with the provisions of the Lease.

 

		C.	Tenant shall pay Monthly Rent for the Offering Space in accordance with the provisions of the Advice.
The Advice shall reflect the Prevailing Market (defined in Section 3.5 below) rate for the Offering Space as determined
in Landlord’s reasonable judgment.

 

		D.	Except as may be otherwise provided in the Advice, (i) the Offering Space (including improvements
and personalty, if any) shall be accepted by Tenant in its configuration and condition existing on the earlier of the date Tenant
takes possession of the Offering Space or the commencement date for the Offering Space; and (ii) if Landlord is delayed in
delivering possession of the Offering Space by any holdover or unlawful possession of the Offering Space by any party, Landlord
shall use reasonable efforts to obtain possession of the Offering Space and any obligation of Landlord to tender possession of,
permit entry to, or perform alterations to the Offering Space shall be deferred until after Landlord has obtained possession of
the Offering Space.

 

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		3.3.	Termination of Right of First Offer; One-Time Right.

 

		A.	Notwithstanding any contrary provision hereof, Landlord shall not be required to provide Tenant
with an Advice, and Tenant shall not be entitled to exercise its Right of First Offer, after April 30, 2020.

 

		B.	Notwithstanding any contrary provision hereof, Landlord shall not be required to provide Tenant
with an Advice, and Tenant shall not be entitled to exercise its Right of First Offer, with respect to any Potential Offering Space
after the date, if any, on which Landlord becomes entitled to lease such Potential Offering Space to a third party under Section 3.1.B
or 3.1.C above.

 

		3.4.	Offering Amendment. If Tenant validly exercises its Right of First Offer, Landlord, within
a reasonable period of time thereafter, shall prepare and deliver to Tenant an amendment (the “Offering Amendment”)
adding the Offering Space to the Premises on the terms set forth in the Advice and reflecting the changes in the Base Rent, the
rentable square footage of the Premises, Tenant’s Share, and other appropriate terms in accordance with this Section 3.
Tenant shall execute and return the Offering Amendment to Landlord within 15 days after receiving it, but an otherwise valid
exercise of the Right of First Offer shall be fully effective whether or not the Offering Amendment is executed.

 

		3.5.	Definition of Prevailing Market. For purposes of this Section 3, “Prevailing
Market” means the arms-length, fair-market, annual rental rate per rentable square foot, under renewal and expansion
leases and amendments entered into on or about the date on which the Prevailing Market is being determined hereunder, for space
comparable to the Offering Space in the Building and office buildings comparable to the Building in the San Carlos, California
area. The determination of Prevailing Market shall take into account (i) any material economic differences between the terms
of the Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions, and the
manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes; and (ii) any material
differences in configuration or condition between the Offering Space and any comparison space.

 

		3.6.	Subordination. Notwithstanding any contrary provision hereof, Tenant’s Right of First
Offer shall be subject and subordinate to the expansion rights (whether such rights are designated as a right of first offer, right
of first refusal, expansion option or otherwise) of any tenant of the Project existing on the date hereof. In addition, if Landlord,
as permitted under Section 3.1.B or 3.1.C above, leases any Potential Offering Space to a third party on terms
including a right of first offer, right of first refusal, expansion option or other expansion right with respect to any other Potential
Offering Space (and if, in the case of any such lease permitted under Section 3.1.B above, such expansion right was
disclosed in the Advice received by Tenant), then Tenant’s Right of First Offer with respect to such other Potential Offering
Space shall be subject and subordinate to such expansion right in favor of such third party.

 

		4.	Extension Option.

 

		4.1.	Grant of Option; Conditions. Tenant shall have the right (the “Extension Option”)
to extend the Term for one (1) additional period of 30 months beginning on the day immediately following the Expiration Date
of the Lease and ending 30 months thereafter (the “Extension Term”), if:

 

		(a)	not less than 9 and not more than 12 full calendar months before the Expiration Date of the Lease,
Tenant delivers written notice to Landlord (the “Extension Notice”) electing to exercise the Extension Option
and stating Tenant’s estimate of the Prevailing Market (defined in Section 4.5 below) rate for the Extension
Term;

 

		(b)	no Default exists when Tenant delivers the Extension Notice;

 

		(c)	no part of the Premises is sublet (other than pursuant to a Permitted Transfer) when Tenant delivers
the Extension Notice; and

 

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		(d)	the Lease has not been assigned (other than pursuant to a Permitted Transfer) before Tenant delivers
the Extension Notice.

 

		4.2.	Terms Applicable to Extension Term.

 

		A.	During the Extension Term, (a) the Base Rent rate per rentable square foot shall be equal
to the Prevailing Market rate per rentable square foot; (b) Base Rent shall increase, if at all, in accordance with the increases
assumed in the determination of Prevailing Market rate; and (c) Base Rent shall be payable in monthly installments in accordance
with the terms and conditions of the Lease.

 

		B.	During the Extension Term Tenant shall pay Tenant’s Share of Expenses and Taxes for the Premises
in accordance with the Lease.

 

		4.3.	Procedure for Determining Prevailing Market.

 

		A.	Initial Procedure. Within 30 days after receiving the Extension Notice, Landlord shall
give Tenant either (i) written notice (“Landlord’s Binding Notice”) accepting Tenant’s estimate
of the Prevailing Market rate for the Extension Term stated in the Extension Notice, or (ii) written notice (“Landlord’s
Rejection Notice”) rejecting such estimate and stating Landlord’s estimate of the Prevailing Market rate for the
Extension Term. If Landlord gives Tenant a Landlord’s Rejection Notice, Tenant, within 15 days thereafter, shall give
Landlord either (i) written notice (“Tenant’s Binding Notice”) accepting Landlord’s estimate
of the Prevailing Market rate for the Extension Term stated in such Landlord’s Rejection Notice, or (ii) written notice
(“Tenant’s Rejection Notice”) rejecting such estimate. If Tenant gives Landlord a Tenant’s Rejection
Notice, Landlord and Tenant shall work together in good faith to agree in writing upon the Prevailing Market rate for the Extension
Term. If, within 30 days after delivery of a Tenant’s Rejection Notice, the parties fail to agree in writing upon the
Prevailing Market rate, the provisions of Section 4.3.B below shall apply.

 

		B.	Dispute Resolution Procedure.

 

		1.	If, within 30 days after delivery of a Tenant’s Rejection Notice, the parties fail to
agree in writing upon the Prevailing Market rate, Landlord and Tenant, within five (5) days thereafter, shall each simultaneously
submit to the other, in a sealed envelope, its good faith estimate of the Prevailing Market rate for the Extension Term (collectively,
the “Estimates”). Within seven (7) days after the exchange of Estimates, Landlord and Tenant shall each
select a broker or agent (an “Agent”) to determine which of the two Estimates most closely reflects the Prevailing
Market rate for the Extension Term. Each Agent so selected shall be licensed as a real estate broker or agent and in good standing
with the California Department of Real Estate, and shall have had at least five (5) years’ experience within the previous
10 years as a commercial real estate broker or agent working in San Carlos, California, with working knowledge of current rental
rates and leasing practices relating to buildings similar to the Building.

 

		2.	If each party selects an Agent in accordance with Section 4.3.B.1 above, the parties
shall cause their respective Agents to work together in good faith to agree upon which of the two Estimates most closely reflects
the Prevailing Market rate for the Extension Term. The Estimate, if any, so agreed upon by such Agents shall be final and binding
on both parties as the Prevailing Market rate for the Extension Term and may be entered in a court of competent jurisdiction. If
the Agents fail to reach such agreement within 20 days after their selection, then, within 10 days after the expiration
of such 20-day period, the parties shall instruct the Agents to select a third Agent meeting the above criteria (and if the Agents
fail to agree upon such third Agent within 10 days after being so instructed, either party may cause a court of competent
jurisdiction to select such third Agent). Promptly upon selection of such third Agent, the parties shall instruct such Agent (or,
if only one of the parties has selected an Agent within the 7-day period described above, then promptly after the expiration of
such 7-day period the parties shall instruct such Agent) to determine, as soon as practicable but in any case within 14 days
after his selection, which of the two Estimates most closely reflects the Prevailing Market rate. Such determination by such Agent
(the “Final Agent”) shall be final and binding on both parties as the Prevailing Market rate for the Extension
Term and may be entered in a court of competent jurisdiction. If the Final Agent believes that expert advice would materially assist
him, he may retain one or more qualified persons to provide such expert advice. The parties shall share equally in the costs of
the Final Agent and of any experts retained by the Final Agent. Any fees of any other broker, agent, counsel or expert engaged
by Landlord or Tenant shall be borne by the party retaining such broker, agent, counsel or expert.

 

    	 	4	 

     

    

 

		C.	Adjustment. If the Prevailing Market rate has not been determined by the commencement date
of the Extension Term, Tenant shall pay Base Rent for the Extension Term upon the terms and conditions in effect during the last
month ending on or before the expiration date of the Lease until such time as the Prevailing Market rate has been determined. Upon
such determination, the Base Rent for the Extension Term shall be retroactively adjusted. If such adjustment results in an under-
or overpayment of Base Rent by Tenant, Tenant shall pay Landlord the amount of such underpayment, or receive a credit in the amount
of such overpayment, with or against the next Base Rent due under the Lease.

 

		4.4.	Extension Amendment. If Tenant is entitled to and properly exercises its Extension Option,
and if the Prevailing Market rate for the Extension Term is determined in accordance with Section 4.3 above, Landlord,
within a reasonable time thereafter, shall prepare and deliver to Tenant an amendment (the “Extension Amendment”)
reflecting changes in the Base Rent, the Term, the expiration date of the Lease, and other appropriate terms in accordance with
this Section 4, and Tenant shall execute and return (or provide Landlord with reasonable objections to) the Extension
Amendment within 15 days after receiving it. Notwithstanding the foregoing, upon determination of the Prevailing Market rate
for the Extension Term in accordance with Section 4.3 above, an otherwise valid exercise of the Extension Option shall
be fully effective whether or not the Extension Amendment is executed.

 

		4.5.	Definition of Prevailing Market. For purposes of this Extension Option, “Prevailing
Market” shall mean the arms-length, fair-market, annual rental rate per rentable square foot under extension and renewal
leases and amendments entered into on or about the date on which the Prevailing Market is being determined hereunder for space
comparable to the Premises in the Building and office buildings comparable to the Building in the San Carlos, California area.
The determination of Prevailing Market shall take into account (i) any material economic differences between the terms of
the Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions, and the manner,
if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes; (ii) any material differences
in configuration or condition between the Premises and any comparison space, including any cost that would have to be incurred
in order to make the configuration or condition of the comparison space similar to that of the Premises; and (iii) any reasonably
anticipated changes in the Prevailing Market rate from the time such Prevailing Market rate is being determined and the time such
Prevailing Market rate will become effective under the Lease.

 

		4.6.	Intentionally Omitted.

 

		5.	Intentionally Omitted.

 

		6.	Monument Signage.

 

		6.1.	Tenant’s Right to Monument Signage. Subject to the terms of this Section 6,
from and after Commencement Date, Tenant shall have the right to have signage (“Tenant’s Monument Signage”)
bearing Tenant’s Name (defined below) installed on one of the panels of the monument sign located immediately in front of
the Building (the “Monument Sign”). As used herein, “Tenant’s Name” means, at any time,
at Tenant’s discretion, (i) the name of Tenant set forth in the first paragraph of this Lease (“Tenant’s
Existing Name”), or (ii) if Tenant’s name is not then Tenant’s Existing Name, then Tenant’s name,
provided that such name is compatible with a first-class office building, as determined by Landlord in its reasonable discretion,
and/or (iii) Tenant’s logo, provided that such logo is then being used by Tenant on a substantially nationwide basis
and is compatible with a first-class office building, as determined by Landlord in its reasonable discretion. Notwithstanding any
contrary provision hereof, Tenant’s rights under this Section 6 shall be personal to the party named as Tenant
in the first paragraph of this Lease (“Original Tenant”) and to any successor to Original Tenant’s interest
in the Lease that acquires its interest in the Lease solely by means of one or more Permitted Transfers originating with Original
Tenant, and may not be transferred to any other party.

 

    	 	5	 

     

    

 

		6.2.	Landlord’s Approval. Any proposed Tenant’s Monument Signage shall comply with
all applicable Laws and shall be subject to Landlord’s prior written consent. Without limitation, Landlord may withhold consent
to any Tenant’s Monument Signage that, in Landlord’s sole judgment, is not harmonious with the design standards of
the Building and Monument Sign, and Landlord may require that Tenant’s Monument Signage be of the same size and style as
the other signage on the Monument Sign. To obtain Landlord’s consent, Tenant shall submit design drawings to Landlord showing
the type and sizes of all lettering; the colors, finishes and types of materials used in Tenant’s Monument Signage; and (if
applicable and Landlord consents thereto) any arrangements for illumination.

 

		6.3.	Fabrication; Installation; Maintenance; Removal; Costs. Landlord shall (a) fabricate
(substantially in accordance with Tenant’s design approved by Landlord), install and, at the expiration or earlier termination
of Tenant’s rights under this Section 6, remove Tenant’s Monument Signage; and (b) maintain, repair,
and (if applicable) illuminate the Monument Sign. Tenant shall reimburse Landlord, promptly upon demand, for (x) all costs
incurred by Landlord in fabricating, installing or removing Tenant’s Monument Signage, and (y) Tenant’s pro rata
share (as determined taking into account any other parties using the Monument Sign) of all costs incurred by Landlord in maintaining,
repairing and (if applicable) illuminating the Monument Sign.

 

    	 	6	 

     

    

 

EXHIBIT G

 

SKYWAY LANDING II OUTLINE OF POTENTIAL
OFFERING SPACES

 

 

    	 	7SECURITIES
PURCHASE AGREEMENT

 

This
Securities Purchase Agreement (this “Agreement”) is dated as of October 19, 2018, between nFüsz, Inc.,
a Nevada corporation (the “Company”), and each purchaser identified on the signature pages hereto (each, including
its successors and assigns, a “Purchaser” and, collectively, the “Purchasers”).

 

WHEREAS,
subject to the terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933,
as amended (the “Securities Act”), and Rule 506 promulgated thereunder, the Company desires to issue and sell
to each Purchaser, and each Purchaser, severally and not jointly, desires to purchase from the Company, securities of the Company
as more fully described in this Agreement.

 

NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE
I.

DEFINITIONS

 

1.1
Definitions. In addition to the terms defined elsewhere in this Agreement: (a) capitalized terms that are not otherwise
defined herein have the meanings given to such terms in the Notes (as defined herein), and (b) the following terms have the meanings
set forth in this Section 1.1:

 

“Acquiring
Person” shall have the meaning ascribed to such term in Section 4.7.

 

“Action”
shall have the meaning ascribed to such term in Section 3.1(j).

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Board
of Directors” means the board of directors of the Company.

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
any day on which the Federal Reserve Bank of New York is closed.

 

“Closing”
means the closing of the purchase and sale of the Securities pursuant to Section 2.1.

 

“Closing
Date” means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable
parties thereto, and all conditions precedent to (i) the Purchasers’ obligations to pay the Subscription Amount and (ii)
the Company’s obligations to deliver the Securities, in each case, have been satisfied or waived.

 

    	 	 	 

    	 

    

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Commitment
Shares” means the shares of Common Stock to be issued by the Company to the Purchaser pursuant to Section 2.1.

 

“Common
Stock” means the common stock of the Company, par value $0.0001 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive,
Common Stock.

 

“Company
Counsel” means Baker & Hostetler LLP, with offices located at 600 Anton Boulevard, Suite 900, Costa Mesa, California
92626.

 

“Conversion
Shares” shall have the meaning ascribed to such term in the Notes.

 

“Disclosure
Schedules” shall have the meaning ascribed to such term in Section 3.1.

 

“Disclosure
Time” means, (i) if this Agreement is signed prior to midnight on any Trading Day, 8:00 a.m. (New York City time) on
the Trading Day immediately following the date hereof, and (ii) if this Agreement is signed after midnight on any Trading Day,
8:00 a.m. (New York City time).

 

“Evaluation
Date” shall have the meaning ascribed to such term in Section 3.1(s).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exempt
Issuance” means the issuance of (a) shares of Common Stock or options to employees, officers, directors, advisors or
independent contractors of the Company pursuant to any stock or option plan duly adopted for such purpose, (b) shares of Common
Stock, warrants or options to advisors or independent contractors of the Company for compensatory purposes, (c) securities upon
the exercise or exchange of or conversion of any Securities issued under the Purchase Agreement and/or other securities exercisable
or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date hereof, provided that such securities
have not been amended since the date hereof to increase the number of such securities or to decrease the exercise price, exchange
price or conversion price of such securities, (d) securities issuable pursuant to any contractual anti-dilution obligations of
the Company in effect as of the date hereof, provided that such obligations have not been materially amended since the date of
hereof, and (e) securities issued pursuant to acquisitions or any other strategic transactions approved by the Board of Directors,
provided that any such issuance shall not include a transaction in which the Company is issuing securities primarily for the purpose
of raising capital or to an entity whose primary business is investing in securities.

 

    	 	2	 

    	 

    

 

“FCPA”
means the Foreign Corrupt Practices Act of 1977, as amended.

 

“GAAP”
shall have the meaning ascribed to such term in Section 3.1(h).

 

“Indebtedness”
shall have the meaning ascribed to such term in Section 3.1(bb).

 

“Intellectual
Property Rights” shall have the meaning ascribed to such term in Section 3.1(p).

 

“Legend
Removal Date” shall have the meaning ascribed to such term in Section 4.1(c).

 

“Liens”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Material
Adverse Effect” shall have the meaning assigned to such term in Section 3.1(b).

 

“Material
Permits” shall have the meaning ascribed to such term in Section 3.1(n).

 

“Maximum
Rate” shall have the meaning ascribed to such term in Section 5.17.

 

“Notes”
means the 10% Original Issue Discount Promissory Notes due, subject to the terms therein, six (6) months from their date of issuance,
issued by the Company to the Purchasers hereunder, in the form of Exhibit A attached hereto.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial
proceeding, such as a deposition), whether commenced or threatened.

 

“Public
Information Failure” shall have the meaning ascribed to such term in Section 4.3(b).

 

“Public
Information Failure Payments” shall have the meaning ascribed to such term in Section 4.3(b).

 

“Purchaser
Party” shall have the meaning ascribed to such term in Section 4.10.

 

“Robinson
Brog” means Robinson Brog Leinwand Greene Genovese & Gluck PC, with offices located at 875 Third Avenue, New York,
New York 10022.

 

    	 	3	 

    	 

    

 

“Required
Approvals” shall have the meaning ascribed to such term in Section 3.1(e).

 

“Required
Minimum” means, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially issuable
in the future pursuant to the Transaction Documents, including any Conversion Shares issuable upon conversion in full of all Notes,
ignoring any conversion limitations set forth therein, and assuming that the conversion price is at all times on and after the
date of determination 100% of the then conversion price on the Trading Day immediately prior to the date of determination.

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“Rule
424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

“SEC
Reports” shall have the meaning ascribed to such term in Section 3.1(h).

 

“Securities”
means the Notes, the Commitment Shares and the Conversion Shares.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Short
Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall
not be deemed to include locating and/or borrowing shares of Common Stock).

 

“Subscription
Amount” means, as to each Purchaser, the aggregate amount to be paid for the Notes and the Commitment Shares purchased
hereunder as specified below such Purchaser’s name on the signature page of this Agreement and next to the heading “Subscription
Amount,” in United States dollars and in immediately available funds.

 

“Subsidiary”
means any subsidiary of the Company as set forth on Schedule 3.1(a) and shall, where applicable, also include any direct
or indirect subsidiary of the Company formed or acquired after the date hereof.

 

“Trading
Day” means a day on which the principal Trading Market is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the NYSE American,
the New York Stock Exchange or any level of the OTC Markets operated by OTC Markets Group Inc. (or any successors to any of the
foregoing).

 

    	 	4	 

    	 

    

 

“Transaction
Documents” means this Agreement, the Notes, all exhibits and schedules thereto and hereto and any other documents or
agreements executed in connection with the transactions contemplated hereunder.

 

“Transfer
Agent” means VStock Transfer, LLC, the current transfer agent of the Company, with a mailing address of 18 Lafayette
Place, Woodmere, New York 11598, and any successor transfer agent of the Company.

 

“Variable
Rate Transaction” shall have the meaning ascribed to such term in Section 4.13(a).

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then
listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based
on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading
Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX,
as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common
Stock are then reported in the “Pink Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency
succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d)
in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good
faith by the Purchasers of a majority in interest of the Securities then outstanding and reasonably acceptable to the Company,
the fees and expenses of which shall be paid by the Company.

 

ARTICLE
II.

PURCHASE
AND SALE

 

2.1
Closing. On the Closing Date, upon the terms and subject to the conditions set forth herein, substantially concurrent with
the execution and delivery of this Agreement by the parties hereto, the Company agrees to sell, and each Purchaser, severally
and not jointly, agrees to purchase, one or more Notes in the aggregate principal amount of $1,500,000 for an aggregate purchase
price of $1,350,000, which includes a 10% original issue discount. In addition, in consideration for the Purchaser’s execution
and delivery of this Agreement, the Company shall issue to the Purchasers an aggregate of 1,450,000 shares of Common Stock (collectively,
the “Commitment Shares”) on the Closing Date. Each Purchaser shall deliver to the Company, via wire transfer,
immediately available funds equal to such Purchaser’s Subscription Amount as set forth on the signature page hereto executed
by such Purchaser, and the Company shall deliver to each Purchaser its respective Note and Commitment Shares, and the Company
and each Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the Closing. Upon satisfaction of the
covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices of Robinson Brog or such other
location as the parties shall mutually agree.

 

    	 	5	 

    	 

    

 

2.2
Deliveries.

 

(a)
On or prior to the Closing Date, the Company shall deliver or cause to be delivered to each Purchaser the following:

 

(i)
this Agreement duly executed by the Company;

 

(ii)
a Note with a principal amount equal to such Purchaser’s Subscription Amount, registered in the name of such Purchaser;

 

(iii)
the relevant number of Commitment Shares;

 

(iv)
a certificate evidencing the formation and good standing of the Company and each of its Subsidiaries in each such entity’s
jurisdiction of formation issued by the Secretary of State (or comparable office) of such jurisdiction of formation as of a date
within ten (10) days of the Closing Date;

 

(v)
a certificate evidencing the Company’s and each Subsidiary’s qualification as a foreign corporation and good standing
issued by the Secretary of State (or comparable office) of each jurisdiction, if any, in which the Company and its Subsidiaries
conduct business and are required to so qualify, as of a date within ten (10) days of the Closing Date;

 

(vi)
a certificate executed by the Secretary of the Company and dated as of the Closing Date, certifying as to (i) the resolutions,
as adopted by the Board of Directors in a form reasonably acceptable to the Purchasers, approving (A) the entering into and performance
of this Agreement and the other Transaction Documents and the issuance, offering and sale of the Securities and (B) the performance
by the Company of its obligations under the Transaction Documents contemplated therein, (ii) the Company’s articles of incorporation
and (iii) the Company’s bylaws, each as in effect at the Closing; and

 

(vii)
such other documents, instruments or certificates relating to the transactions contemplated by this Agreement as the Purchasers
may reasonably request.

 

(b)
On or prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company the following:

 

(i)
this Agreement duly executed by such Purchaser; and

 

(ii)
such Purchaser’s Subscription Amount by wire transfer to the account specified in writing by the Company.

 

    	 	6	 

    	 

    

 

2.3
Closing Conditions.

 

(a)
The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 

(i)
the accuracy in all material respects on (or, to the extent representations or warranties are qualified by materiality or Material
Adverse Effect, in all respects) the Closing Date of the representations and warranties of the Purchasers contained herein (unless
as of a specific date therein in which case they shall be accurate as of such date);

 

(ii)
all obligations, covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have
been performed; and

 

(iii)
the delivery by each Purchaser of the items set forth in Section 2.2(b) of this Agreement.

 

(b)
The respective obligations of the Purchasers hereunder in connection with the Closing are subject to the following conditions
being met:

 

(i)
the accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material
Adverse Effect, in all respects) when made and on the Closing Date of the representations and warranties of the Company contained
herein (unless as of a specific date therein in which case they shall be accurate as of such date);

 

(ii)
all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been
performed;

 

(iii)
the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement;

 

(iv)
there shall have been no Material Adverse Effect with respect to the Company since the date hereof; and

 

(v)
from the date hereof to the Closing Date, trading in the Common Stock shall not have been suspended by the Commission or the Company’s
principal Trading Market and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg
L.P. shall not have been suspended or limited, or minimum prices shall not have been established on securities whose trades are
reported by such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United States
or New York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national
or international calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in
each case, in the reasonable judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Securities at the
Closing.

 

    	 	7	 

    	 

    

 

ARTICLE
III.

REPRESENTATIONS
AND WARRANTIES

 

3.1
Representations and Warranties of the Company. Except as set forth in the Disclosure Schedules, which Disclosure Schedules
shall be deemed a part hereof and shall qualify any representation or otherwise made herein to the extent of the disclosure contained
in the corresponding section of the Disclosure Schedules, the Company hereby makes the following representations and warranties
to each Purchaser:

 

(a)
Subsidiaries. All of the direct and indirect subsidiaries of the Company are set forth on Schedule 3.1(a). The Company
owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens,
and all of the issued and outstanding shares of capital stock of each Subsidiary are validly issued and are fully paid, non-assessable
and free of preemptive and similar rights to subscribe for or purchase securities. If the Company has no subsidiaries, all other
references to the Subsidiaries or any of them in the Transaction Documents shall be disregarded.

 

(b)
Organization and Qualification. Each of the Company and each of the Subsidiaries is an entity duly incorporated or otherwise
organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with
the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted.
Neither the Company nor any Subsidiary is in violation nor default of any of the provisions of its respective certificate or articles
of incorporation, bylaws or other organizational or charter documents. Each of the Company and each of the Subsidiaries is duly
qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the
nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so
qualified or in good standing, as the case may be, could not have or reasonably be expected to result in: (i) a material adverse
effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect on the results
of operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries, taken as
a whole, or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis
its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”) and
no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail
such power and authority or qualification.

 

    	 	8	 

    	 

    

 

(c)
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate
the transactions contemplated by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations
hereunder and thereunder. The execution and delivery of this Agreement and each of the other Transaction Documents by the Company
and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action
on the part of the Company and no further action is required by the Company, the Board of Directors or the Company’s stockholders
in connection herewith or therewith other than in connection with the Required Approvals. This Agreement and each other Transaction
Document to which it is a party has been (or upon delivery will have been) duly executed by the Company and, when delivered in
accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against
the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii)
as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii)
insofar as indemnification and contribution provisions may be limited by applicable law.

 

(d)
No Conflicts. The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents
to which it is a party, the issuance and sale of the Securities and the consummation by it of the transactions contemplated hereby
and thereby do not and will not: (i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate
or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon
any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, acceleration
or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing
a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which
any property or asset of the Company or any Subsidiary is bound or affected, or (iii) subject to the Required Approvals, conflict
with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court
or governmental authority to which the Company or a Subsidiary is subject (including federal and state securities laws and regulations),
or by which any property or asset of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii)
and (iii), such as could not have or reasonably be expected to result in a Material Adverse Effect.

 

(e)
Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of,
give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority
or other Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other
than: (i) the filings required pursuant to Section 4.6 of this Agreement, (ii) the notice and/or application(s) to each applicable
Trading Market for the issuance and sale of the Securities and the listing of the Conversion Shares and the Commitment Shares
for trading thereon in the time and manner required thereby, and (iii) the filing of Form D with the Commission and such filings
as are required to be made under applicable state securities laws (collectively, the “Required Approvals”).

 

(f)
Issuance of the Securities. The Securities are duly authorized and, when issued and paid for in accordance with the applicable
Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the
Company other than restrictions on transfer provided for in the Transaction Documents.

 

    	 	9	 

    	 

    

 

(g)
Capitalization. The capitalization of the Company as of the date hereof is as set forth on Schedule 3.1(g), which
Schedule 3.1(g) shall also include (A) the number of shares of Common Stock owned beneficially, and of record, by Affiliates
of the Company as of the date hereof and (B) the number of authorized and reserved shares of capital stock of the Company. The
Company has not issued any capital stock since its most recently filed periodic report under the Exchange Act, other than pursuant
to the exercise of employee stock options under the Company’s stock option plans, the issuance of shares of Common Stock
to employees pursuant to the Company’s employee stock purchase plans and pursuant to the conversion and/or exercise of Common
Stock Equivalents outstanding as of the date of the most recently filed periodic report under the Exchange Act. No Person has
any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions
contemplated by the Transaction Documents. Except as a result of the purchase and sale of the Securities, there are no outstanding
options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities,
rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or
acquire any shares of Common Stock or the capital stock of any Subsidiary, or contracts, commitments, understandings or arrangements
by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock or Common Stock Equivalents
or capital stock of any Subsidiary. The issuance and sale of the Securities will not obligate the Company or any Subsidiary to
issue shares of Common Stock or other securities to any Person (other than the Purchasers) and will not result in a right of any
holder of Company securities to adjust the exercise, conversion, exchange or reset price under any of such securities. There are
no outstanding securities or instruments of the Company or any Subsidiary that contain any redemption or similar provisions, and
there are no contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound
to redeem a security of the Company or such Subsidiary. The Company does not have any stock appreciation rights or “phantom
stock” plans or agreements or any similar plan or agreement. All of the outstanding shares of capital stock of the Company
are duly authorized, validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities
laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for
or purchase securities. No further approval or authorization of any stockholder, the Board of Directors or others is required
for the issuance and sale of the Securities. There are no stockholders agreements, voting agreements or other similar agreements
with respect to the Company’s capital stock to which the Company is a party or, to the knowledge of the Company, between
or among any of the Company’s stockholders.

 

    	 	10	 

    	 

    

 

(h)
SEC Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents
required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d)
thereof, for the two (2) years preceding the date hereof (or such shorter period as the Company was required by law or regulation
to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein,
being collectively referred to herein as the “SEC Reports”) on a timely basis or has received a valid extension
of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective
dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act, as
applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material
fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading. The financial statements of the Company included in the SEC Reports comply in all material
respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect
at the time of filing. Such financial statements have been prepared in accordance with United States generally accepted accounting
principles applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified
in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes
required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries
as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case
of unaudited statements, to normal, immaterial, year-end audit adjustments. The Company is not currently an issuer under Rule
144(i)(1)(i). The Company was previously an issuer under Rule 144(i)(1)(i) and has filed current Form 10 information (as defined
in Rule 144(i)(3)) with the SEC, as required pursuant to Rule 144(i)(2), at least one (1) year prior to the date hereof.

 

(i)
Material Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest audited financial statements
included within the SEC Reports, except as set forth on Schedule 3.1(i), (i) there has been no event, occurrence or development
that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any
liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business
consistent with past practice and (B) liabilities not required to be reflected in the Company’s financial statements pursuant
to GAAP or disclosed in filings made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the
Company has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed
or made any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities
to any officer, director or Affiliate, except pursuant to existing Company stock option plans. The Company does not have pending
before the Commission any request for confidential treatment of information. Except for the issuance of the Securities contemplated
by this Agreement or as set forth on Schedule 3.1(i), no event, liability, fact, circumstance, occurrence or development
has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its Subsidiaries or their respective
businesses, prospects, properties, operations, assets or financial condition, that would be required to be disclosed by the Company
under applicable securities laws at the time this representation is made or deemed made that has not been publicly disclosed at
least one (1) Trading Day prior to the date that this representation is made.

 

    	 	11	 

    	 

    

 

(j)
Litigation. There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge
of the Company, threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by
any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign)
(collectively, an “Action”) which (i) adversely affects or challenges the legality, validity or enforceability
of any of the Transaction Documents or the Securities or (ii) could, if there were an unfavorable decision, have or reasonably
be expected to result in a Material Adverse Effect. Neither the Company nor any Subsidiary, nor any director or officer thereof,
is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws
or a claim of breach of fiduciary duty. There has not been, and to the knowledge of the Company, there is not pending or contemplated,
any investigation by the Commission involving the Company or any current or former director or officer of the Company. The Commission
has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or
any Subsidiary under the Exchange Act or the Securities Act.

 

(k)
Labor Relations. No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees
of the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company’s or its
Subsidiaries’ employees is a member of a union that relates to such employee’s relationship with the Company or such
Subsidiary, and neither the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company
and its Subsidiaries believe that their relationships with their employees are good. To the knowledge of the Company, no executive
officer of the Company or any Subsidiary, is, or is now expected to be, in violation of any material term of any employment contract,
confidentiality, disclosure or proprietary information agreement or non-competition agreement, or any other contract or agreement
or any restrictive covenant in favor of any third party, and the continued employment of each such executive officer does not
subject the Company or any of its Subsidiaries to any liability with respect to any of the foregoing matters. The Company and
its Subsidiaries are in compliance with all U.S. federal, state, local and foreign laws and regulations relating to employment
and employment practices, terms and conditions of employment and wages and hours, except where the failure to be in compliance
could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

(l)
Compliance. Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred
that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary
under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation
of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any
of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree
or order of any court, arbitrator or other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance
or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws relating
to taxes, environmental protection, occupational health and safety, product quality and safety and employment and labor matters,
except in each case as could not have or reasonably be expected to result in a Material Adverse Effect.

 

    	 	12	 

    	 

    

 

(m)
Environmental Laws. Each of the Company and each of its Subsidiaries (i) is in compliance with all federal, state, local
and foreign laws relating to pollution or protection of human health or the environment (including ambient air, surface water,
groundwater, land surface or subsurface strata), including laws relating to emissions, discharges, releases or threatened releases
of chemicals, pollutants, contaminants, or toxic or hazardous substances or wastes (collectively, “Hazardous Materials”)
into the environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport
or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands, or demand letters, injunctions, judgments,
licenses, notices or notice letters, orders, permits, plans or regulations, issued, entered, promulgated or approved thereunder
(“Environmental Laws”); (ii) has received all permits licenses or other approvals required of them under applicable
Environmental Laws to conduct their respective businesses; and (iii) is in compliance with all terms and conditions of any such
permit, license or approval where in each clause (i), (ii) and (iii), the failure to so comply could be reasonably expected to
have, individually or in the aggregate, a Material Adverse Effect.

 

(n)
Regulatory Permits. Each of the Company and each of its Subsidiaries possesses all certificates, authorizations and permits
issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses
as described in the SEC Reports, except where the failure to possess such permits could not reasonably be expected to result in
a Material Adverse Effect (“Material Permits”), and neither the Company nor any Subsidiary has received any
notice of Proceedings relating to the revocation or modification of any Material Permit.

 

(o)
Title to Assets. Each of the Company and each of its Subsidiaries has good and marketable title in fee simple to all real
property owned by each of them and good and marketable title in all personal property owned by each of them that is material to
the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens as do not materially
affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by
the Company and the Subsidiaries and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves
have been made therefor in accordance with GAAP and, the payment of which is neither delinquent nor subject to penalties. Any
real property and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and
enforceable leases with which the Company and the Subsidiaries are in compliance.

 

    	 	13	 

    	 

    

 

(p)
Intellectual Property. Each of the Company and each of its Subsidiaries has, or has rights to use, all patents, patent
applications, trademarks, trademark applications, service marks, trade names, trade secrets, inventions, copyrights, licenses
and other intellectual property rights and similar rights necessary or required for use in connection with their respective businesses
as described in the SEC Reports and which the failure to so have could have a Material Adverse Effect (collectively, the “Intellectual
Property Rights”). None of, and neither the Company nor any Subsidiary has received a notice (written or otherwise)
that any of, the Intellectual Property Rights has expired, terminated or been abandoned, or is expected to expire or terminate
or be abandoned, within two (2) years from the date of this Agreement. Neither the Company nor any Subsidiary has received, since
the date of the latest audited financial statements included within the SEC Reports, a written notice of a claim or otherwise
has any knowledge that the Intellectual Property Rights violate or infringe upon the rights of any Person, except as could not
have or reasonably be expected to not have a Material Adverse Effect. To the knowledge of the Company, all such Intellectual Property
Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights. Each
of the Company and each of its Subsidiaries has taken reasonable security measures to protect the secrecy, confidentiality and
value of all of its respective intellectual properties, except where failure to do so could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.

 

(q)
Insurance. Each of the Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility
against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the
Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage at least equal to the aggregate
Subscription Amount. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing
insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to
continue its business without a significant increase in cost.

 

(r)
Transactions with Affiliates and Employees. Except as set forth on Schedule 3.1(r), none of the officers or directors
of the Company or any Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any Subsidiary
is presently a party to any transaction with the Company or any Subsidiary (other than for services as employees, officers and
directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing
for rental of real or personal property to or from providing for the borrowing of money from or lending of money to, or otherwise
requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which
any officer, director, or any such employee has a substantial interest or is an officer, director, trustee, stockholder, member
or partner, in each case in excess of $120,000 other than for (i) payment of salary or consulting fees for services rendered,
(ii) reimbursement for expenses incurred on behalf of the Company and (iii) other employee benefits, including stock option agreements
under any stock option plan of the Company.

 

    	 	14	 

    	 

    

 

(s)
Sarbanes-Oxley; Internal Accounting Controls. The Company is in compliance with any and all applicable requirements of
the Sarbanes-Oxley Act of 2002 that are effective as of the date hereof, and any and all applicable rules and regulations promulgated
by the Commission thereunder that are effective as of the date hereof and as of the Closing Date. Each of the Company and each
of its Subsidiaries maintains a system of internal accounting controls sufficient to provide reasonable assurance that: (i) transactions
are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary
to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets
is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded accountability
for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
Each of the Company and each of its Subsidiaries has established disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15(e) and 15d-15(e)) for the Company and the Subsidiaries and designed such disclosure controls and procedures to ensure
that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded,
processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. The Company’s
certifying officers have evaluated the effectiveness of the disclosure controls and procedures of the Company and the Subsidiaries
as of the end of the period covered by the most recently filed periodic report under the Exchange Act (such date, the “Evaluation
Date”). The Company presented in its most recently filed periodic report under the Exchange Act the conclusions of the
certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation
Date. Since the Evaluation Date, there have been no changes in the internal control over financial reporting (as such term is
defined in the Exchange Act) that have materially affected, or is reasonably likely to materially affect, the internal control
over financial reporting of the Company and its Subsidiaries.

 

(t)
Certain Fees. Other than as set forth on Schedule 3.1(t), no brokerage or finder’s fees or commissions are
or will be payable by the Company or any Subsidiaries to any broker, financial advisor or consultant, finder, placement agent,
investment banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents. Except as
set forth on Schedule 3.1(t), the Purchasers shall have no obligation with respect to any fees or with respect to any claims
made by or on behalf of other Persons for fees of a type contemplated in this Section that may be due in connection with the transactions
contemplated by the Transaction Documents.

 

(u)
Private Placement. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2,
no registration under the Securities Act is required for the offer and sale of the Securities by the Company to the Purchasers
as contemplated hereby. The issuance and sale of the Securities hereunder does not contravene the rules and regulations of the
Trading Market.

 

(v)
Investment Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities,
will not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940,
as amended. The Company shall conduct its business in a manner so that it will not become an “investment company”
subject to registration under the Investment Company Act of 1940, as amended.

 

(w)
Registration Rights. No Person has any right to cause the Company or any Subsidiary to effect the registration under the
Securities Act of any securities of the Company or any Subsidiaries.

 

    	 	15	 

    	 

    

 

(x)
Listing and Maintenance Requirements. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange
Act, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the
registration of the Common Stock under the Exchange Act nor has the Company received any notification that the Commission is contemplating
terminating such registration. The Company has not, in the twelve (12) months preceding the date hereof, received notice from
any Trading Market on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance
with the listing or maintenance requirements of such Trading Market. The Company is, and has no reason to believe that it will
not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements. The Common Stock
is currently eligible for electronic transfer through the Depository Trust Company or another established clearing corporation
and the Company is current in payment of the fees to the Depository Trust Company (or such other established clearing corporation)
in connection with such electronic transfer.

 

(y)
Application of Takeover Protections. The Company and the Board of Directors have taken all necessary action, if any, in
order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under
a rights agreement) or other similar anti-takeover provision under the Company’s certificate of incorporation (or similar
charter documents) or the laws of its state of incorporation that is or could become applicable to the Purchasers as a result
of the Purchasers and the Company fulfilling their obligations or exercising their rights under the Transaction Documents, including
without limitation as a result of the Company’s issuance of the Securities and the Purchasers’ ownership of the Securities.

 

(z)
Disclosure. Except with respect to the material terms and conditions of the transactions contemplated by the Transaction
Documents, the Company confirms that neither it nor any other Person acting on its behalf has provided any of the Purchasers or
their agents or counsel with any information that it believes constitutes or might constitute material, non-public information.
The Company understands and confirms that the Purchasers will rely on the foregoing representation in effecting transactions in
securities of the Company. All of the disclosure furnished by or on behalf of the Company to the Purchasers regarding the Company
and its Subsidiaries, their respective businesses and the transactions contemplated hereby, including the Disclosure Schedules
to this Agreement, is true and correct and does not contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not
misleading. The press releases disseminated by the Company during the twelve (12) months preceding the date of this Agreement
taken as a whole do not contain any untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made and
when made, not misleading. The Company acknowledges and agrees that no Purchaser makes or has made any representations or warranties
with respect to the transactions contemplated hereby other than those specifically set forth in Section 3.2 hereof.

 

    	 	16	 

    	 

    

 

(aa)
No Integrated Offering. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section
3.2, neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly,
made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause this
offering of the Securities to be integrated with prior offerings by the Company for purposes of (i) the Securities Act which would
require the registration of any such securities under the Securities Act, or (ii) any applicable stockholder approval provisions
of any Trading Market on which any of the securities of the Company are listed or quoted.

 

(bb)
Solvency. The Company does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account
the timing and amounts of cash to be payable on or in respect of its debt). The Company has no knowledge of any facts or circumstances
which lead it to believe that it will file for reorganization or liquidation under the bankruptcy or reorganization laws of any
jurisdiction within one (1) year from the Closing Date. Schedule 3.1(bb) sets forth as of the date hereof all outstanding
secured and unsecured Indebtedness of the Company or any Subsidiary, or for which the Company or any Subsidiary has commitments.
For the purposes of this Agreement, “Indebtedness” means (x) any liabilities for borrowed money or amounts
owed in excess of $50,000 (other than trade accounts payable incurred in the ordinary course of business), (y) all guaranties,
endorsements and other contingent obligations in respect of indebtedness of others, whether or not the same are or should be reflected
in the Company’s consolidated balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments
for deposit or collection or similar transactions in the ordinary course of business, and (z) the present value of any lease payments
in excess of $50,000 due under leases required to be capitalized in accordance with GAAP. Neither the Company nor any Subsidiary
is in default with respect to any Indebtedness.

 

(cc)
Tax Status. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result
in a Material Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all United States federal, state and
local income and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which
it is subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined
to be due on such returns, reports and declarations and (iii) has set aside on its books provision reasonably adequate for the
payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There
are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and neither the officers
of the Company nor of any Subsidiary know of any basis for any such claim.

 

(dd)
No General Solicitation. Neither the Company nor any Person acting on behalf of the Company has offered or sold any of
the Securities by any form of general solicitation or general advertising. The Company has offered the Securities for sale only
to the Purchasers and certain other “accredited investors” within the meaning of Rule 501 under the Securities Act.

 

    	 	17	 

    	 

    

 

(ee)
Foreign Corrupt Practices. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary,
any agent or other person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for
unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii)
made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties
or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made
by any person acting on its behalf of which the Company is aware) which is in violation of law or (iv) violated in any material
respect any provision of FCPA.

 

(ff)
Accountants. The Company’s accounting firm is set forth on Schedule 3.1(ff) of the Disclosure Schedules. To
the knowledge and belief of the Company, such accounting firm (i) is a registered public accounting firm as required by the Exchange
Act and (ii) shall express its opinion with respect to the financial statements to be included in the Company’s Annual Report
for the fiscal year ending December 31, 2018.

 

(gg)
[Reserved].

 

(hh)
No Disagreements with Accountants and Lawyers. There are no disagreements of any kind presently existing, or reasonably
anticipated by the Company to arise, between the Company and the accountants and lawyers formerly or presently employed by the
Company and the Company is current with respect to any fees owed to its accountants and lawyers which could affect the Company’s
ability to perform any of its obligations under any of the Transaction Documents.

 

(ii)
Acknowledgment Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of the
Purchasers is acting solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the
transactions contemplated thereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary
of the Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby
and any advice given by any Purchaser or any of their respective representatives or agents in connection with the Transaction
Documents and the transactions contemplated thereby is merely incidental to the Purchasers’ purchase of the Securities.
The Company further represents to each Purchaser that the Company’s decision to enter into this Agreement and the other
Transaction Documents has been based solely on the independent evaluation of the transactions contemplated hereby by the Company
and its representatives.

 

(jj)
[Reserved].

 

(kk)
Regulation M Compliance. The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly
or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of
the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or paid any compensation
for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting
another to purchase any other securities of the Company, other than, in the case of clauses (ii) and (iii), compensation paid
to the Company’s placement agent in connection with the placement of the Securities.

 

    	 	18	 

    	 

    

 

(ll)
[Reserved].

 

(mm)
Stock Option Plans. Each stock option granted by the Company under the Company’s stock option plan was granted (i)
in accordance with the terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair
market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock
option granted under the Company’s stock option plan has been backdated. The Company has not knowingly granted, and there
is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate
the grant of stock options with, the release or other public announcement of material information regarding the Company or its
Subsidiaries or their financial results or prospects.

 

(nn)
Office of Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director,
officer, agent, employee or Affiliate of the Company or any Subsidiary is currently subject to any U.S. sanctions administered
by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”).

 

(oo)
U.S. Real Property Holding Corporation. The Company is not and has never been a U.S. real property holding corporation
within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon the
Purchaser’s request.

 

(pp)
Bank Holding Company Act. Neither the Company nor any of its Subsidiaries or Affiliates is subject to the Bank Holding
Company Act of 1956, as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve
System (the “Federal Reserve”). Neither the Company nor any of its Subsidiaries or Affiliates owns or controls,
directly or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent
(25%) or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.
Neither the Company nor any of its Subsidiaries or Affiliates exercises a controlling influence over the management or policies
of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.

 

(qq)
Money Laundering. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance
with applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of
1970, as amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money
Laundering Laws”), and no Action or Proceeding by or before any court or governmental agency, authority or body or any
arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of
the Company or any Subsidiary, threatened.

 

    	 	19	 

    	 

    

 

(rr)
No Disqualification Events. With respect to the Securities to be offered and sold hereunder in reliance on Rule 506 under
the Securities Act, none of the Company, any of its predecessors, any affiliated issuer, any director, executive officer, other
officer of the Company participating in the offering hereunder, any beneficial owner of 20% or more of the Company’s outstanding
voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under
the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person”
and, together, “Issuer Covered Persons”) is subject to any of the “Bad Actor” disqualifications
described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for
a Disqualification Event covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any
Issuer Covered Person is subject to a Disqualification Event. The Company has complied, to the extent applicable, with its disclosure
obligations under Rule 506(e), and has furnished to the Purchasers a copy of any disclosures provided thereunder.

 

(ss)
Other Covered Persons. The Company is not aware of any Person (other than any Issuer Covered Person) that has been or will
be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with the sale of any Securities.

 

(tt)
Notice of Disqualification Events. The Company will notify the Purchasers in writing, prior to the Closing Date of (i)
any Disqualification Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, become
a Disqualification Event relating to any Issuer Covered Person.

 

(uu)
Promotional Stock Activities. Neither the Company, its officers, its directors, nor any Affiliates or agents of the Company
have engaged in any stock promotional activity that could give rise to a complaint, inquiry, or trading suspension by the Commission
alleging (i) a violation of the anti-fraud provisions of the federal securities laws, (ii) violations of the anti-touting provisions,
(iii) improper “gun-jumping, or (iv) promotion without proper disclosure of compensation.

 

(vv)
Payments of Cash. Except as disclosed on Schedule 3.1(vv), neither the Company, its officers nor any Affiliates
or agents of the Company have withdrawn or paid cash (not including a check or other similar negotiable instrument) to any vendor
in an aggregate amount that exceeds Five Thousand Dollars ($5,000) for any purpose.

 

    	 	20	 

    	 

    

 

3.2
Representations and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents
and warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein,
in which case they shall be accurate as of such date):

 

(a)
Organization; Authority. Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing
and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership,
limited liability company or similar power and authority to enter into and to consummate the transactions contemplated by the
Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction
Documents and performance by such Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized
by all necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of such Purchaser.
Each Transaction Document to which it is a party has been duly executed by such Purchaser, and when delivered by such Purchaser
in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against
it in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii)
as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii)
insofar as indemnification and contribution provisions may be limited by applicable law.

 

(b)
Own Account. Such Purchaser understands that the Securities are “restricted securities” and have not been registered
under the Securities Act or any applicable state securities law and is acquiring the Securities as principal for its own account
and not with a view to or for distributing or reselling such Securities or any part thereof in violation of the Securities Act
or any applicable state securities law, has no present intention of distributing any of such Securities in violation of the Securities
Act or any applicable state securities law and has no direct or indirect arrangement or understandings with any other persons
to distribute or regarding the distribution of such Securities in violation of the Securities Act or any applicable state securities
law (this representation and warranty not limiting such Purchaser’s right to sell the Securities in compliance with applicable
federal and state securities laws). Such Purchaser is acquiring the Securities hereunder in the ordinary course of its business.

 

(c)
Purchaser Status. At the time such Purchaser was offered the Securities, it was, and as of the date hereof it is, and on
each date on which it converts the Notes it will be an “accredited investor” as defined in Rule 501(a)(1), (a)(2),
(a)(3), (a)(7) or (a)(8) under the Securities Act.

 

(d)
Experience of Such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Securities, and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk
of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

 

(e)
General Solicitation. Such Purchaser is not, to such Purchaser’s knowledge, purchasing the Securities as a result
of any advertisement, article, notice or other communication regarding the Securities published in any newspaper, magazine or
similar media or broadcast over television or radio or presented at any seminar or, to the knowledge of such Purchaser, any other
general solicitation or general advertisement.

 

    	 	21	 

    	 

    

 

(f)
Certain Transactions. Other than consummating the transactions contemplated hereunder, such Purchaser has not, nor has
any Person acting on behalf of or pursuant to any understanding with such Purchaser, directly or indirectly executed any purchases
or sales, including Short Sales, of the securities of the Company during the period commencing as of the time that such Purchaser
first received a term sheet (written or oral) from the Company or any other Person representing the Company setting forth the
material terms of the transactions contemplated hereunder and ending immediately prior to the execution hereof.

 

ARTICLE
IV.

OTHER
AGREEMENTS OF THE PARTIES

 

4.1
Transfer Restrictions.

 

(a)
The Securities may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of
Securities other than pursuant to an effective registration statement or Rule 144, to the Company or to an Affiliate of a Purchaser
or in connection with a pledge as contemplated in Section 4.1(b), the Company may require the transferor thereof to provide to
the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance
of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration
of such transferred Securities under the Securities Act. As a condition of transfer, any such transferee shall agree in writing
to be bound by the terms of this Agreement and shall have the rights and obligations of a Purchaser under this Agreement.

 

(b)
The Purchasers agree to the imprinting, so long as is required by this Section 4.1, of a legend on any of the Securities in the
following form:

 

[NEITHER]
THIS SECURITY [NOR THE SECURITIES INTO WHICH THIS SECURITY IS [CONVERTIBLE]] HAS [NOT] BEEN REGISTERED WITH THE SECURITIES AND
EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT
SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS
SECURITY [AND THE SECURITIES ISSUABLE UPON [CONVERSION] OF THIS SECURITY] MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY SUCH SECURITIES.

 

    	 	22	 

    	 

    

 

The
Company acknowledges and agrees that a Purchaser may from time to time pledge pursuant to a bona fide margin agreement with a
registered broker-dealer or grant a security interest in some or all of the Securities to a financial institution that is an “accredited
investor” as defined in Rule 501(a) under the Securities Act and, if required under the terms of such arrangement, such
Purchaser may transfer pledged or secured Securities to the pledgees or secured parties. Such a pledge or transfer would not be
subject to approval of the Company and no legal opinion of legal counsel of the pledgee, secured party or pledgor shall be required
in connection therewith. Further, no notice shall be required of such pledge. At the Company’s expense, the Company will
execute and deliver such reasonable documentation as a pledgee or secured party of Securities may reasonably request in connection
with a pledge or transfer of the Securities.

 

(c)
Certificates evidencing the Conversion Shares shall not contain any legend (including the legend set forth in Section 4.1(b) hereof):
(i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following
any sale of such Conversion Shares pursuant to Rule 144, (iii) if such Conversion Shares are eligible for sale under Rule 144
or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations
and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the
Transfer Agent or the Purchaser promptly if required by the Transfer Agent to effect the removal of the legend hereunder or if
requested by a Purchaser. If all or any portion of a Note is converted at a time when there is an effective registration statement
to cover the resale of the Conversion Shares, or if such Conversion Shares may be sold under Rule 144 without the requirement
for the Company to be in compliance with the current public information required under Rule 144 as to such Conversion Shares and
without volume or manner-of-sale restrictions or if such legend is not otherwise required under applicable requirements of the
Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Conversion
Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under
this Section 4.1(c), it will, no later than the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising
the Standard Settlement Period (as defined below) following the delivery by a Purchaser to the Company or the Transfer Agent of
a certificate representing Conversion Shares issued with a restrictive legend (such date, the “Legend Removal Date”),
deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and
other legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the
restrictions on transfer set forth in this Section 4. Certificates for Conversion Shares subject to legend removal hereunder shall
be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the
Depository Trust Company System as directed by such Purchaser. As used herein, “Standard Settlement Period”
means the standard settlement period, expressed in a number of Trading Days, on the Company’s principal Trading Market with
respect to the Common Stock as in effect on the date of delivery of a certificate representing Conversion Shares issued with a
restrictive legend.

 

    	 	23	 

    	 

    

 

(d)
In addition to such Purchaser’s other available remedies, (i) the Company shall pay to a Purchaser, in cash, as partial
liquidated damages and not as a penalty, for each $1,000 of Conversion Shares (based on the VWAP of the Common Stock on the date
such Conversion Shares are submitted to the Transfer Agent for removal of the restrictive legend) delivered for removal of the
restrictive legend and subject to Section 4.1(c), $10 per Trading Day (increasing to $20 per Trading Day five (5) Trading Days
after such damages have begun to accrue) for each Trading Day after the Legend Removal Date until such certificate is delivered
without a legend and (ii) if the Company fails to (A) issue and deliver (or cause to be delivered) to a Purchaser by the Legend
Removal Date a certificate representing the Conversion Shares so delivered to the Company by such Purchaser that is free from
all restrictive and other legends and (B) if after the Legend Removal Date such Purchaser purchases (in an open market transaction
or otherwise) shares of Common Stock to deliver in satisfaction of a sale by such Purchaser of all or any portion of the number
of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or any portion of the number of shares
of Common Stock that such Purchaser anticipated receiving from the Company without any restrictive legend, then, an amount equal
to the excess of such Purchaser’s total purchase price (including brokerage commissions and other out-of-pocket expenses,
if any) for the shares of Common Stock so purchased (including brokerage commissions and other out-of-pocket expenses, if any)
(the “Buy-In Price”) over the product of (x) such number of Conversion
Shares that the Company was required to deliver to such Purchaser by the Legend Removal Date multiplied by (y) the lowest closing
sale price of the Common Stock on any Trading Day during the period commencing on the date of the delivery by such Purchaser to
the Company of the applicable Conversion Shares and ending on the date of such delivery and payment under this clause (ii).

 

4.2
Acknowledgment of Dilution. The Company acknowledges that the issuance of the Securities may result in dilution of the
outstanding shares of Common Stock, which dilution may be substantial under certain market conditions. The Company further acknowledges
that its obligations under the Transaction Documents, including, without limitation, its obligation to issue the Conversion Shares
pursuant to the Transaction Documents, are unconditional and absolute and not subject to any right of set off, counterclaim, delay
or reduction, regardless of the effect of any such dilution or any claim the Company may have against any Purchaser and regardless
of the dilutive effect that such issuance may have on the ownership of the other stockholders of the Company.

 

4.3
Furnishing of Information; Public Information.

 

(a)
Until the time that no Purchaser owns Securities, the Company covenants to maintain the registration of the Common Stock under
Section 12(b) or 12(g) of the Exchange Act and to timely file (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act even if the Company
is not then subject to the reporting requirements of the Exchange Act.

 

    	 	24	 

    	 

    

 

(b)
At any time during the period commencing from the six (6)-month anniversary of the date hereof and ending at such time that all
of the Securities may be sold without the requirement for the Company to be in compliance with Rule 144(c)(1) and otherwise without
restriction or limitation pursuant to Rule 144, if the Company (i) shall fail for any reason to satisfy the current public information
requirement under Rule 144(c) or (ii) has ever been an issuer described in Rule 144 (i)(1)(i) or becomes an issuer in the future,
and the Company shall fail to satisfy any condition set forth in Rule 144(i)(2) (a “Public Information Failure”)
then, in addition to such Purchaser’s other available remedies, the Company shall pay to a Purchaser, in cash, as partial
liquidated damages and not as a penalty, by reason of any such delay in or reduction of its ability to sell the Securities, an
amount in cash equal to two percent (2.0%) of the aggregate Subscription Amount of such Purchaser’s Securities on the day
of a Public Information Failure and on every thirtieth (30th) day (pro rated for periods totaling less than thirty (30) days)
thereafter until the earlier of (a) the date such Public Information Failure is cured and (b) such time that such public information
is no longer required for the Purchasers to transfer the Conversion Shares pursuant to Rule 144. The payments to which a Purchaser
shall be entitled pursuant to this Section 4.3(b) are referred to herein as “Public Information Failure Payments.”
Public Information Failure Payments shall be paid on the earlier of (i) the last day of the calendar month during which such Public
Information Failure Payments are incurred and (ii) the third (3rd) Business Day after the event or failure giving rise to the
Public Information Failure Payments is cured. In the event the Company fails to make Public Information Failure Payments in a
timely manner, such Public Information Failure Payments shall bear interest at the rate of 1.5% per month (prorated for partial
months) until paid in full. Nothing herein shall limit such Purchaser’s right to pursue actual damages for the Public Information
Failure, and such Purchaser shall have the right to pursue all remedies available to it at law or in equity including, without
limitation, a decree of specific performance and/or injunctive relief.

 

4.4
Integration. The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any
security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Securities in
a manner that would require the registration under the Securities Act of the sale of the Securities or that would be integrated
with the offer or sale of the Securities for purposes of the rules and regulations of any Trading Market such that it would require
stockholder approval prior to the closing of such other transaction unless stockholder approval is obtained before the closing
of such subsequent transaction.

 

4.5
Conversion Procedures. The form of Notice of Conversion included in the Notes sets forth the totality of the procedures
required of the Purchasers in order to convert the Notes. Without limiting the preceding sentences, no ink-original Notice of
Conversion shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of
Conversion form be required in order to convert the Notes. No additional legal opinion, other information or instructions shall
be required of the Purchasers to convert their Notes. The Company shall honor conversions of the Notes and shall deliver Conversion
Shares in accordance with the terms, conditions and time periods set forth in the Transaction Documents.

 

    	 	25	 

    	 

    

 

4.6
Securities Laws Disclosure; Publicity. The Company shall (a) by the Disclosure Time, issue a press release disclosing the
material terms of the transactions contemplated hereby, and (b) file a Current Report on Form 8-K, including the Transaction Documents
as exhibits thereto, with the Commission within the time required by the Exchange Act. From and after the issuance of such press
release, the Company represents to the Purchasers that it shall have publicly disclosed all material, non-public information delivered
to any of the Purchasers by the Company or any of its Subsidiaries, or any of their respective officers, directors, employees
or agents in connection with the transactions contemplated by the Transaction Documents. In addition, effective upon the issuance
of such press release, the Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement,
whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, agents,
employees or Affiliates on the one hand, and any of the Purchasers or any of their Affiliates on the other hand, shall terminate.
The Company and each Purchaser shall consult with each other in issuing any other press releases with respect to the transactions
contemplated hereby, and neither the Company nor any Purchaser shall issue any such press release nor otherwise make any such
public statement without the prior consent of the Company, with respect to any press release of any Purchaser, or without the
prior consent of each Purchaser, with respect to any press release of the Company, which consent shall not unreasonably be withheld
or delayed, except if such disclosure is required by law, in which case the disclosing party shall promptly provide the other
party with prior notice of such public statement or communication. Notwithstanding the foregoing, the Company shall not publicly
disclose the name of any Purchaser, or include the name of any Purchaser in any filing with the Commission or any regulatory agency
or Trading Market, without the prior written consent of such Purchaser, except (x) as required by federal securities law in connection
with the filing of final Transaction Documents with the Commission and (y) to the extent such disclosure is required by law or
Trading Market regulations, in which case the Company shall provide the Purchasers with prior notice of such disclosure permitted
under this clause (y).

 

4.7
Stockholder Rights Plan. No claim will be made or enforced by the Company or, with the consent of the Company, any other
Person, that any Purchaser is an “Acquiring Person” under any control share acquisition, business combination,
poison pill (including any distribution under a rights agreement) or similar anti-takeover plan or arrangement in effect or hereafter
adopted by the Company, or that any Purchaser could be deemed to trigger the provisions of any such plan or arrangement, by virtue
of receiving Securities under the Transaction Documents or under any other agreement between the Company and the Purchasers.

 

4.8
Non-Public Information. Except with respect to the material terms and conditions of the transactions contemplated by the
Transaction Documents, which shall be disclosed pursuant to Section 4.6, the Company covenants and agrees that neither it, nor
any other Person acting on its behalf will provide any Purchaser or its agents or counsel with any information that constitutes,
or the Company reasonably believes constitutes, material non-public information, unless prior thereto such Purchaser shall have
consented to the receipt of such information and agreed with the Company to keep such information confidential. The Company understands
and confirms that each Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company.
To the extent that the Company delivers any material, non-public information to a Purchaser without such Purchaser’s consent,
the Company hereby covenants and agrees that such Purchaser shall not have any duty of confidentiality to the Company, any of
its Subsidiaries, or any of their respective officers, directors, agents, employees or Affiliates, or a duty to the Company, any
of its Subsidiaries or any of their respective officers, directors, agents, employees or Affiliates not to trade on the basis
of, such material, non-public information, provided that the Purchaser shall remain subject to applicable law. To the extent that
any notice provided pursuant to any Transaction Document constitutes, or contains, material, non-public information regarding
the Company or any Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report
on Form 8-K. The Company understands and confirms that each Purchaser shall be relying on the foregoing covenant in effecting
transactions in securities of the Company.

 

    	 	26	 

    	 

    

 

4.9
Use of Proceeds. The Company shall use the net proceeds from the sale of the Securities hereunder for working capital purposes
and shall not use such proceeds: (a) for the satisfaction of any portion of the Company’s debt (other than payment of trade
payables in the ordinary course of the Company’s business and prior practices), (b) for the redemption of any Common Stock
or Common Stock Equivalents, (c) for the settlement of any outstanding litigation or (d) in violation of FCPA or OFAC regulations.

 

4.10
Indemnification of Purchasers. Subject to the provisions of this Section 4.10, the Company will indemnify and hold each
Purchaser and its directors, officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally
equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title), each Person who controls
such Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors,
officers, shareholders, agents, members, partners or employees (and any other Persons with a functionally equivalent role of a
Person holding such titles notwithstanding a lack of such title or any other title) of such controlling persons (each, a “Purchaser
Party”) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses,
including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation
that any such Purchaser Party may suffer or incur as a result of or relating to (a) any breach of any of the representations,
warranties, covenants or agreements made by the Company in this Agreement or in the other Transaction Documents or (b) any action
instituted against the Purchaser Parties in any capacity, or any of them or their respective Affiliates, by any stockholder of
the Company who is not an Affiliate of such Purchaser Party, with respect to any of the transactions contemplated by the Transaction
Documents (unless such action is solely based upon a material breach of such Purchaser Party’s representations, warranties
or covenants under the Transaction Documents or any agreements or understandings such Purchaser Party may have with any such stockholder
or any violations by such Purchaser Party of state or federal securities laws or any conduct by such Purchaser Party which is
finally judicially determined to constitute fraud, gross negligence or willful misconduct). If any action shall be brought against
any Purchaser Party in respect of which indemnity may be sought pursuant to this Agreement, such Purchaser Party shall promptly
notify the Company in writing, and the Company shall have the right to assume the defense thereof with counsel of its own choosing
reasonably acceptable to the Purchaser Party. Any Purchaser Party shall have the right to employ separate counsel in any such
action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Purchaser
Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the
Company has failed after a reasonable period of time to assume such defense and to employ counsel or (iii) in such action there
is, in the reasonable opinion of counsel, a material conflict on any material issue between the position of the Company and the
position of such Purchaser Party, in which case the Company shall be responsible for the reasonable fees and expenses of no more
than one such separate counsel. The Company will not be liable to any Purchaser Party under this Agreement (x) for any settlement
by a Purchaser Party effected without the Company’s prior written consent, which shall not be unreasonably withheld or delayed;
or (y) to the extent, but only to the extent that a loss, claim, damage or liability is attributable to any Purchaser Party’s
breach of any of the representations, warranties, covenants or agreements made by such Purchaser Party in this Agreement or in
the other Transaction Documents. The indemnification required by this Section 4.10 shall be made by periodic payments of the amount
thereof during the course of the investigation or defense, as and when bills are received or are incurred. The indemnity agreements
contained herein shall be in addition to any cause of action or similar right of any Purchaser Party against the Company or others
and any liabilities the Company may be subject to pursuant to law.

 

    	 	27	 

    	 

    

 

4.11
Reservation and Listing of Securities.

 

(a)
Upon the occurrence of an Event of Default (as defined in the Notes), the Company shall maintain a reserve equal to 200% of the
Required Minimum from its duly authorized shares of Common Stock for issuance pursuant to the Transaction Documents.

 

(b)
If, on or after the occurrence of an Event of Default, the number of authorized but unissued (and otherwise unreserved) shares
of Common Stock is less than 200% of the Required Minimum on such date, then the Board of Directors shall use commercially reasonable
efforts to amend the Company’s certificate or articles of incorporation to increase the number of authorized but unissued
shares of Common Stock to at least 200% of the Required Minimum at such time, as soon as possible and in any event not later than
the 75th day after such date.

 

(c)
The Company shall, if applicable: (i) in the time and manner required by the principal Trading
Market, prepare and file with such Trading Market an additional shares listing application covering a number of shares of Common
Stock at least equal to 200% of the Required Minimum on the date of such application; (ii) take all steps necessary to cause such
shares of Common Stock to be approved for listing or quotation on such Trading Market as soon as possible thereafter; (iii) provide
to the Purchasers evidence of such listing or quotation; and (iv) maintain the listing or quotation of such Common Stock on any
date at least equal to 200% of the Required Minimum on such date on such Trading Market or another Trading Market. The Company
agrees to maintain the eligibility of the Common Stock for electronic transfer through the Depository Trust Company or another
established clearing corporation, including, without limitation, by timely payment of fees to the Depository Trust Company or
such other established clearing corporation in connection with such electronic transfer.

 

4.12
[Reserved].

 

    	 	28	 

    	 

    

 

4.13
Subsequent Equity Sales.

 

(a)
From the date hereof until the six (6)-month anniversary of the date hereof, the Company shall be prohibited from effecting or
entering into an agreement to effect any issuance by the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents
(or a combination of units thereof) involving a Variable Rate Transaction. “Variable Rate Transaction” means
a transaction in which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or
exercisable for, or include the right to receive, additional shares of Common Stock either (A) at a conversion price, exercise
price or exchange rate or other price that is based upon, and/or varies with, the trading prices of or quotations for the shares
of Common Stock at any time after the initial issuance of such debt or equity securities or (B) with a conversion, exercise or
exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity security or
upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market
for the Common Stock or (ii) enters into, or effects a transaction under, any agreement, including, but not limited to, an equity
line of credit, whereby the Company may issue securities at a future determined price. Any Purchaser shall be entitled to obtain
injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition to any right to collect
damages.

 

(b)
Notwithstanding the foregoing, this Section 4.13 shall not apply in respect of an Exempt Issuance, except that no Variable Rate
Transaction shall be an Exempt Issuance.

 

4.14
[Reserved].

 

4.15
Certain Transactions and Confidentiality. Each Purchaser, severally and not jointly with the other Purchasers, covenants
that neither it, nor any Affiliate acting on its behalf or pursuant to any understanding with it will execute any purchases or
sales, including Short Sales, of any of the Company’s securities during the period commencing with the execution of this
Agreement and ending at such time that the transactions contemplated by this Agreement are first publicly announced pursuant to
the initial press release as described in Section 4.6. Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed
investment vehicle whereby separate portfolio managers manage separate portions of such Purchaser’s assets and the portfolio
managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser’s
assets, the covenant set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that
made the investment decision to purchase the Securities covered by this Agreement. Each Purchaser, severally and not jointly with
the other Purchasers, covenants that until such time as the transactions contemplated by this Agreement are publicly disclosed
by the Company pursuant to the initial press release as described in Section 4.6, such Purchaser will maintain the confidentiality
of the existence and terms of this transaction and the information included in the Disclosure Schedules.

 

4.16
[Reserved].

 

    	 	29	 

    	 

    

 

4.17
Exchange Transactions. During the period commencing on the date hereof and for so long as any of the Securities remain
outstanding, neither the Company nor any of its Affiliates or Subsidiaries, nor any of its or their respective officers, employees,
directors, agents or other representatives, will, without the prior written consent of the Purchaser (which consent may be withheld,
delayed or conditioned in the Purchaser’s sole discretion), directly or indirectly: (a) solicit, initiate, encourage or
accept any other inquiries, proposals or offers from any Person (other than the Purchaser) relating to any exchange (i) of any
security of the Company or any of its Subsidiaries for any other security of the Company or any of its Subsidiaries; or (ii) of
any indebtedness or other securities of, or claim against, the Company or any of its Subsidiaries relying on the exemption provided
by Section 3(a)(10) of the Securities Act (any such transaction described in clauses (i) or (ii), an “Exchange Transaction”);
(b) enter into, effect, alter, amend, announce or recommend to its stockholders any Exchange Transaction with any Person (other
than the Purchaser); or (c) participate in any discussions, conversations, negotiations or other communications with any Person
(other than the Purchaser) regarding any Exchange Transaction, or furnish to any Person (other than the Purchaser) any information
with respect to any Exchange Transaction, or otherwise cooperate in any way, assist or participate in, facilitate or encourage
any effort or attempt by any Person (other than the Purchaser) to seek an Exchange Transaction involving the Company or any of
its Subsidiaries. In addition, for so long as any of the Securities remain outstanding, neither the Company nor any of its Affiliates
or Subsidiaries, nor any of its or their respective officers, employees, directors, agents or other representatives, will, without
the prior written consent of the Purchaser (which consent may be withheld, delayed or conditioned in the Purchaser’s sole
discretion), directly or indirectly, cooperate in any way, assist or participate in, facilitate or encourage any effort or attempt
by any Person (other than the Purchaser) to effect any acquisition of securities or indebtedness of, or claim against, the Company
by such Person from an existing Purchaser of such securities, indebtedness or claim in connection with a proposed exchange of
such securities or indebtedness of, or claim against, the Company (whether pursuant to Section 3(a)(9) or 3(a)(10) of the Securities
Act or otherwise) (a “Third Party Exchange Transfer”). The Company, its Affiliates and Subsidiaries, and each
of its and their respective officers, employees, directors, agents or other representatives shall immediately cease and cause
to be terminated all existing discussions, conversations, negotiations and other communications with any Persons (other than the
Purchaser) with respect to any of the foregoing. The Company shall promptly (and in no event later than 24 hours after receipt)
notify (which notice shall be provided orally and in writing and shall identify the Person making the inquiry, request, proposal
or offer and set forth the material terms thereof) the Purchaser after receipt of any inquiry, request, proposal or offer relating
to any Exchange Transaction or Third Party Exchange Transfer, and shall promptly (and in no event later than 24 hours after receipt)
provide copies to the Purchaser of any written inquiries, requests, proposals or offers relating thereto. The Company agrees that
it and its Affiliates and Subsidiaries, and each of its and their respective officers, employees, directors, agents or other representatives
Subsidiaries will not enter into any agreement with any Person subsequent to the date hereof which prohibits the Company from
providing any information to the Purchaser in accordance with this provision. For all purposes of this Agreement, violations of
the restrictions set forth in this Section 4.17 by any Subsidiary or Affiliate of the Company, or any officer, employee, director,
agent or other representative of the Company or any of its Subsidiaries or Affiliates shall be deemed a direct breach of this
Section 4.17 by the Company.

 

4.18
Form D; Blue Sky Filings. The Company agrees to timely file a Form D with respect to the Securities as required under Regulation
D and to provide a copy thereof, promptly upon request of any Purchaser. The Company shall take such action as the Company shall
reasonably determine is necessary in order to obtain an exemption for, or to qualify the Securities for, sale to the Purchasers
at the Closing under applicable securities or “Blue Sky” laws of the states of the United States, and shall provide
evidence of such actions promptly upon request of any Purchaser.

 

    	 	30	 

    	 

    

 

ARTICLE
V.

MISCELLANEOUS

 

5.1
Termination. This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only
and without any effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other
parties, if the Closing has not been consummated on or before the fifth (5th) Trading Day following the date hereof, provided,
however, that no such termination will affect the right of any party to sue for any breach by any other party (or parties).

 

5.2
Fees and Expenses. At the Closing, the Company has agreed to reimburse the Purchasers for their reasonable out-of-pocket
expenses, including legal fees and disbursements of Robinson Brog in connection with the purchase and sale of the Securities contemplated
hereby; provided that such reimbursement obligation shall not exceed $14,000. Except as expressly set forth in the Transaction
Documents to the contrary, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts,
if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance
of this Agreement and the other Transaction Documents. The Company shall pay all Transfer Agent fees (including, without limitation,
any fees required for same-day processing of any instruction letter delivered by the Company and any conversion notice delivered
by a Purchaser), stamp taxes and other taxes and duties levied in connection with the delivery of any Securities to the Purchasers.

 

5.3
Entire Agreement. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding
of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral
or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

5.4
Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall
be in writing and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number or email attachment at the email address as set forth on the signature pages
attached hereto at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission,
if such notice or communication is delivered via facsimile at the facsimile number or email attachment as set forth on the signature
pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c)
the second (2nd) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or
(d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications
shall be as set forth on the signature pages attached hereto. To the extent that any notice provided pursuant to any Transaction
Document constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company
shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.

 

    	 	31	 

    	 

    

 

5.5
Amendments; Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written
instrument signed, in the case of an amendment, by the Company and the Purchasers which purchased at least a majority in interest
of the Notes based on the initial Subscription Amounts hereunder or, in the case of a waiver, by the party against whom enforcement
of any such waived provision is sought, provided that if any amendment, modification or waiver disproportionately and adversely
impacts a Purchaser (or group of Purchasers), the consent of such disproportionately impacted Purchaser (or group of Purchasers)
shall also be required. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall
be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition
or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise
of any such right. Any proposed amendment or waiver that disproportionately, materially and adversely affects the rights and obligations
of any Purchaser relative to the comparable rights and obligations of the other Purchasers shall require the prior written consent
of such adversely affected Purchaser. Any amendment effected in accordance with this Section 5.5 shall be binding upon each Purchaser
and holder of Securities and the Company.

 

5.6
Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed
to limit or affect any of the provisions hereof.

 

5.7
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written
consent of each Purchaser (other than by merger). Any Purchaser may assign any or all of its rights under this Agreement to any
Person to whom such Purchaser assigns or transfers any Securities, provided that such transferee agrees in writing to be bound,
with respect to the transferred Securities, by the provisions of the Transaction Documents that apply to the “Purchasers.”

 

5.8
No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as
otherwise set forth in Section 4.10.

 

5.9
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents
shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard
to the principles of conflicts of law thereof. Each party agrees that all legal Proceedings concerning the interpretations, enforcement
and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a
party hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be
commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to
the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including
with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert
in any Action or Proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such Action
or Proceeding is improper or is an inconvenient venue for such Proceeding. Each party hereby irrevocably waives personal service
of process and consents to process being served in any such Action or Proceeding by mailing a copy thereof via registered or certified
mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If any party shall commence
an Action or Proceeding to enforce any provisions of the Transaction Documents, then, in addition to the obligations of the Company
under Section 4.10, the prevailing party in such Action or Proceeding shall be reimbursed by the non-prevailing party for its
reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of
such Action or Proceeding.

 

    	 	32	 

    	 

    

 

5.10
Survival. The representations and warranties contained herein shall survive the Closing and the delivery of the Securities.

 

5.11
Execution. This Agreement may be executed in two (2) or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other
party, it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered by
facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if
such facsimile or “.pdf” signature page were an original thereof.

 

5.12
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use
their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result
as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention
of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any
of such that may be hereafter declared invalid, illegal, void or unenforceable.

 

5.13
Rescission and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar
provisions of) any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under
a Transaction Document and the Company does not timely perform its related obligations within the periods therein provided, then
such Purchaser may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant
notice, demand or election in whole or in part without prejudice to its future actions and rights; provided, however,
that, in the case of a rescission of a conversion of a Note, the applicable Purchaser shall be required to return any shares of
Common Stock subject to any such rescinded conversion notice.

 

    	 	33	 

    	 

    

 

5.14
Replacement of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed,
the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation),
or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory
to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances
shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement
Securities.

 

5.15
Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of
damages, each of the Purchasers and the Company will be entitled to specific performance under the Transaction Documents. The
parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations
contained in the Transaction Documents and hereby agree to waive and not to assert in any Action for specific performance of any
such obligation the defense that a remedy at law would be adequate.

 

5.16
Payment Set Aside. To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction
Document or a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement
or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered
from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other
Person under any law (including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of
action), then, to the extent of any such restoration, the obligation or part thereof originally intended to be satisfied shall
be revived and continued in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred.

 

5.17
Usury. To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever
claim, and will resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now
or at any time hereafter in force, in connection with any Action or Proceeding that may be brought by any Purchaser in order to
enforce any right or remedy under any Transaction Document. Notwithstanding any provision to the contrary contained in any Transaction
Document, it is expressly agreed and provided that the total liability of the Company under the Transaction Documents for payments
in the nature of interest shall not exceed the maximum lawful rate authorized under applicable law (the “Maximum Rate”),
and, without limiting the foregoing, in no event shall any rate of interest or default interest, or both of them, when aggregated
with any other sums in the nature of interest that the Company may be obligated to pay under the Transaction Documents exceed
such Maximum Rate. It is agreed that if the maximum contract rate of interest allowed by law and applicable to the Transaction
Documents is increased or decreased by statute or any official governmental action subsequent to the date hereof, the new maximum
contract rate of interest allowed by law will be the Maximum Rate applicable to the Transaction Documents from the effective date
thereof forward, unless such application is precluded by applicable law. If under any circumstances whatsoever, interest in excess
of the Maximum Rate is paid by the Company to any Purchaser with respect to indebtedness evidenced by the Transaction Documents,
such excess shall be applied by such Purchaser to the unpaid principal balance of any such indebtedness or be refunded to the
Company, the manner of handling such excess to be at such Purchaser’s election.

 

    	 	34	 

    	 

    

 

5.18
[Reserved].

 

5.19
Liquidated Damages. The Company’s obligations to pay any partial liquidated damages or other amounts owing under
the Transaction Documents is a continuing obligation of the Company and shall not terminate until all unpaid partial liquidated
damages and other amounts have been paid notwithstanding the fact that the instrument or security pursuant to which such partial
liquidated damages or other amounts are due and payable shall have been canceled.

 

5.20
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right
required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next
succeeding Business Day.

 

5.21
Construction. The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity
to revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to
be resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents or any amendments
thereto. In addition, each and every reference to share prices and shares of Common Stock in any Transaction Document shall be
subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions
of the Common Stock that occur after the date of this Agreement.

 

5.22
WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER
PARTY, EACH OF THE PARTIES KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY,
UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

 

(Signature
Pages Follow)

 

    	 	35	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.

 

	NFÜSZ, Inc.	 	Address
    for Notice:
	 	 	 	 
	By:	                           	 	Email:
	Name: 	 	 	Fax:
	Title:	 	 	 

 

With a copy to (which shall not constitute notice): 

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE
PAGE FOR PURCHASERS FOLLOWS]

 

    	 	36	 

    	 

    

 

[PURCHASER
SIGNATURE PAGE TO nFUSZ SECURITIES PURCHASE AGREEMENT]

 

IN
WITNESS WHEREOF, the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.

 

Name
of Purchaser: ________________________________________________________

 

Signature
of Authorized Signatory of Purchaser: _________________________________

 

Name
of Authorized Signatory: _______________________________________________

 

Title
of Authorized Signatory: ________________________________________________

 

Email
Address of Authorized Signatory: ________________________________________

 

Facsimile
Number of Authorized Signatory: _____________________________________

 

Address
for Notice to Purchaser:

 

 

 

Address
for Delivery of Securities to Purchaser (if not same as address for notice):

 

 

 

Subscription
Amount: $_____________

 

EIN
Number: _______________________

 

    	 	37	 

    	 

    

 

Exhibit
A

 

Form
of 10% Original Issue Discount Promissory Note

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