Document:

Exhibit 10.5

 

 

 

 

 

 

LEASE
AGREEMENT

 

Between

 

H&M
Group Inc.,

 

as
Landlord,

 

-and-

 

 

 

JERRICK
MEDIA

 

as
Tenant.

 

 

 

 

	 

                                                                                                  Polygon
                                         Plaza

        2050
        Center Avenue

        Fort
        Lee, New Jersey

         

 

     

     

    

 

	Basic
    Lease Provisions.	3
	1.	Demised
    Premises	5
	2.	Term	5
	3.	Rent	6
	4.	Use
    and Occupancy	6
	5.	Alterations
    or Improvements by Tenant	7
	6.	Maintenance	7
	7.	Compliance
    with Laws and Insurance	8
	8.	Subordination
    and Estoppel	8
	9.	Destruction
    - Fire or Other Casualty	8
	10.	Mutual
    Waiver of Subrogation	9
	11.	Condemnation
    and Other Proceedings	9
	12.	Assignment
    and Subletting	10
	13.	Surrender	11
	14.	Holding
    Over	11
	15.	Landlord’s
    Right to Entry	11
	16.	Default	12
	17.	Landlord’s
    Rights Upon Tenant’s Default	12
	18.	Landlord’s
    Remedies Cumulative; Expenses	13
	19.	No
    Waiver	14
	20.	Landlord’s
    Reserved Rights	14
	21.	Landlord’s
    Liability	14
	22.	Tenant’s
    Liability	15
	23.	Tenant’s
    Insurance	15
	24.	Quiet
    Enjoyment	16
	25.	Landlord’s
    Services	16
	26.	Additional
    Rent	18
	27.	Personal
    Property Taxes	20
	28.	Security
    Deposit	20
	29.	Use
    of Security Deposit	20
	30.	Definition
    of Landlord	20
	31.	Notices	21
	32.	Signs	21
	33.	Notice
    of Defects and Accidents 	21
	34.	Rules
    and Regulations	21
	35.	Directory	21
	36.	Environmental
    Matters	21
	37.	Miscellaneous	22
	EXHIBIT
    A	 
	EXHIBIT
    B	 
	EXHIBIT
    C	 

 

    	 	Page 2

     

    

 

LEASE
AGREEMENT (the “Lease”) dated as of the 2 day of April, 2018, between H&M Group Inc. (hereinafter
referred to as “Landlord”), and JERRICK MEDIA (hereinafter referred to as “Tenant”).

 

WITNESSETH:

 

Landlord
and Tenant hereby covenant and agree as follows:

 

Basic
Lease Provisions.

 

The
following basic terms of the Lease (hereinafter referred to as the “Basic Lease Provisions”) between Landlord and
Tenant are an integral part of and are incorporated by reference into the within Lease:

 

	A.
    The “Building”:	2050
    Center Avenue, Fort Lee, New Jersey 07024 (currently known as “Polygon Plaza”) situated on a tract of land containing
    approximately .79 acres. The foregoing land and Building are sometimes referred to herein as the “Real Property”.
	 	 
	B.
    The “Premises”:	(1)
    As shown on Exhibit A attached to the Lease, and referred to as follows: Suite Number 640, 6th floor.
	 	 
	 	(2)
    Rentable square footage: 2,300 sqft.
	 	 
	C.
    The “Term”:	The
    Term of this Lease shall be 5 years and 2 month, beginning on the later of May 1, 2018 and Landlord’s substantial completion
    of Landlord’s Work (the “Commencement Date”) and ending on a date 5 years and 1 month after the Commencement
    Date (the “Expiration Date”).

 

	D. The “Basic Rent” and electricity charge:

                                                                
	 	“Basic
                                         Rent”:
  
 Lease
                                         Year
	 	 	Annual
    Amount	 	 	Monthly
    Amount	 	 
	-   3%
    Annual Rent Increases	 	 	1	 	 	$	67,344.00	 	 	$	5,612.00	 	 
	-   Amortized
    cost of Tenant	 	 	2	 	 	$	69,184.00	 	 	$	5,765.33	 	 
	Improvements
    distributed for	 	 	3	 	 	$	71,070.00	 	 	$	5,922.50	 	 
	5 year term.	 	 	4	 	 	$	73,002.00	 	 	$	6,083.50	 	 
	 	 	 	5	 	 	$	75,003.00	 	 	$	6,250.25	 	 
	 	 	 	Electricity
                                         Charge:	 	 	$	4,600.00	 	 	$	383.33	 	 

 

	E.
    Renewal Option:	Tenant
    shall have one, (1) five (5) year option to renew at fair market value, with twelve (12) months prior written notice to Landlord.
	 	 
	F.
    Rent Concession	Two(2)
    months: May and June 2018. Tenant shall pay Tenant Electric during the Rent Concession Period.
	 	 
	G.
    The “Tenant’s Proportionate Share”:	3.10%
	 	 
	H.
    The “Security Deposit”:	$16,836.00
    1/3 of which Landlord agrees to return to Tenant at the end of the first Lease Year provided the Tenant has not defaulted
    hereunder beyond applicable grace periods.
	 	 
	I.
    Broker(s):	Joseph
    Tormen, Lee & Associates and Harrison Russell, Newmark Knight Frank
	 	 
	J.
    Addresses for Notices and for payments:	(1)
                                         Landlord:

         

        H&M
        GROUP INC.

	 	Suite
    670
	 	2050
    Center Avenue
	 	Fort
    Lee, New Jersey 07024

 

    	 	Page 3

     

    

 

	 	(2) Tenant:
	 	 
	 	JERRICK
    MEDIA
	 	 
	 	(3)
                                         Make checks payable to:

                                                                                      

        H&M
        GROUP INC.

         

        Mail
        payments to:

	 	 
		H&M
    GROUP INC.
	 	Suite
    670
	 	2050
    Center Avenue
	 	Fort
    Lee, New Jersey 07024

 

	K.
    The “Base Tax Year”:	2018
	 	 
	L.
    The “Base Operating Year”:	2018
	 	 
	M.
    Tenant’s Required Insurance:	a.
    Workmen’s Compensation: statutory.
	 	 
	 	b.
    Employer’s Liability: Not less than $100,000
	 	 
	 	c. Broad
    Form Comprehensive: Not less than $1,000,000 General Liability insurance, combined single limit for both bodily injury and
    liability, including contractual, Broad Form Property Damage, Personal Injury, Completed Operations, Products Liability, Fire
    Damage.
	 	 
	N.
    The “Permitted Use”:	Executive
    and administrative office use only.
	 	 
	O.
    Number of non-exclusive permitted parking spaces:	6

 

    	 	Page 4

     

    

 

1.
Demised Premises.

 

1.1.
Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord for the Term and upon the terms, conditions, covenants
and agreements hereinafter provided, the Premises. The Premises consists of space which is bounded by the proposed or existing
demising walls therefor, the approximate locations of such demising walls and space being marked in color or crosshatched and
shown on the diagram(s) of the floor plan for each relevant floor, such diagram being attached to this Lease as Exhibit A
and made a part hereof. The Premises is to be known and called by the Suite Number or Numbers specified in Item B of the Basic
Lease Provisions. The number of rentable square feet of which the Premises shall be deemed to consist, as hereby agreed to by
the parties, is specified in Item B of the Basic Lease Provisions (the “Rentable Area”). The lease of the Premises
includes the right, together with the Landlord, other tenants of the Building, and their respective assignees, subtenants, principals,
employees, agents, contractors, guests, invitees and others claiming by, through, or under that person or entity (collectively,
“Occupants”), and members of the public, to use the common public areas of the Building for their intended purposes,
but includes no other rights not specifically set forth herein.

 

1.2. Landlord
shall finish the Premises as set forth in Exhibit B attached hereto and made a part hereof. It is understood and agreed
that Landlord will not make and is under no obligation to make, any alterations, decorations, additions or improvements in or
to the Building or Premises, structural or otherwise, except as set forth in Exhibit B. Landlord agrees to deliver possession
of the Premises to Tenant and Tenant agrees to accept the same from Landlord upon written notice from Landlord to Tenant that
Landlord’s work in the Premises as described in Exhibit B has been substantially completed. Landlord has made no
representation or promises with respect to the Premises or the Real Property except as expressly contained herein. Tenant has
inspected the Premises and agrees to take the same in a strictly “AS IS” condition, except as otherwise expressly
set forth in Exhibit B.

 

1.3. For
purposes of this Lease “substantial completion” or “substantially complete” shall mean that the work which
Landlord is expressly obligated to perform pursuant to Exhibit B shall have reached that stage of completion such that
Tenant could reasonably use and occupy the Premises without substantial interference by reason of the work required to complete
those items still remaining to be completed.

 

2.
Term.

 

2.1. The
Premises are leased for the period of years and months as specified in Item C of the Basic Lease Provisions to commence at 12:01
A.M. on the Commencement Date and to end at 11:59 P.M. on the Expiration Date unless the Term shall sooner terminate pursuant
to any of the terms, covenants or conditions of this Lease or pursuant to law. “Lease Year”, if the Commencement date
is the first day of a calendar month, shall mean a period of twelve calendar months commencing on the Commencement Date and each
consecutive 12-month period thereafter, all or any part of which period occurs during the Term.

 

2.2. Notwithstanding
anything in Paragraph 2.1 to the contrary, if, on the Commencement Date, the Premises are not substantially complete or if Landlord
otherwise cannot deliver the Premises by the Commencement Date to Tenant, this Lease shall nevertheless continue in full force
and effect and Tenant shall have no right to rescind, cancel or terminate this Lease nor shall Landlord be liable for damages,
if any, sustained by Tenant by reason of inability to obtain possession thereof on such date. In such event, Landlord shall give
to Tenant notice at least five business days in advance of the date when Landlord expects to deliver possession of the Premises
with Landlord’s work substantially complete, which date shall then become the Commencement Date, in which case the Expiration
Date shall be deemed modified to reflect the full lease term originally contemplated hereby pursuant to he Basic Lease Provisions.

 

2.3. At
any time after the occurrence of the Commencement Date, either party, at the request of the other, shall deliver to the requesting
party a certification specifying the dates which are the Commencement Date and the Expiration Date.

 

2.4. When
Tenant takes possession of the Premises, Tenant shall be deemed to have acknowledged that Landlord has properly completed the
work described on Exhibit B and to have accepted the Premises as being satisfactory and in good condition as of the date
of such possession,. subject, however, to any punch list items as to which Tenant shall notify Landlord within the first 30 days
of the Term which punch list items Landlord shall address as promptly as reasonably practicable.

 

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3.
Rent.

 

3.1. Tenant
covenants and agrees to pay to Landlord as rent for and during the Term hereof the annual sum as specified in Item D of the Basic
Lease Provisions as Basic Rent, as well as any and all other sums payable by Tenant hereunder (“Additional Rent”).

 

3.2. Basic
Rent and any Additional Rent payable pursuant to the provisions of this Lease shall be payable by Tenant to Landlord at the address
specified in Item J of the Basic Lease Provisions (or at such other place as Landlord may designate in a notice to Tenant) in
lawful money of the United States without prior demand therefor and without any offset or deduction whatsoever. Basic Rent shall
be payable in equal monthly installments as specified in Item D of the Basic Lease Provisions, in advance, on the first (1st)
day of each calendar month during the Term. The installment of Basic Rent for the first (1st) full calendar month of the Term
is due and payable by Tenant to Landlord at the time of the execution and delivery of this Lease.

 

4.
Use and Occupancy.

 

4.1. Tenant
shall use and occupy the Premises solely for the Permitted Use described in Item N of the Basic Lease Provisions, and only in
accordance with the uses permitted under applicable zoning and other municipal regulations, and for no other purpose. The Premises
shall not be used for any purpose or in any manner which is likely to constitute an unreasonable annoyance to Landlord or other
tenants of the Building. Tenant’s use of the Premises shall at all times comply with all present and future laws, ordinances,
regulations, and orders of the United States of America, the jurisdiction(s) in which the Building is located and any other public
or quasi-public authority having jurisdiction over the Premises.

 

4.2. Tenant
agrees that it will not permit the smoking of tobacco products within the Building.

 

4.3. Tenant
shall have the right to the non-exclusive use of the number of parking spaces specified in Item O of the Basic Lease Provisions
in the parking facilities on the Real Property for its Occupants. Such right does not entitle Tenant to any particular assigned
spaces in the parking facilities, but nothing contained herein shall prohibit Landlord from assigning specific parking spaces
to one or more Occupants. Tenant covenants and agrees to comply with all reasonable rules and regulations which Landlord may hereafter
from time to time make to assure exclusive use of designated parking spaces on the Real Property by permitted users. Landlord’s
remedies under such rules and regulations may include, but shall not be limited to, the right to tow away at owner’s expense
any vehicles not parked in compliance with such rules and regulations. Landlord shall not be responsible to Tenant for the noncompliance
or breach by any other tenant of said rules and regulations; provided, however, Landlord agrees to use reasonable efforts to enforce
such rules and regulations uniformly.

 

4.4. Tenant’s
and its Occupants’ right to use, and its right to permit its principals and guests to use, the Building’s parking
facilities pursuant to this Lease are subject to the following conditions: (i) Landlord has made no representations or warranties
with respect to the parking facilities except as specifically provided herein; (ii) Landlord reserves the right to reduce the
number of spaces in the parking facilities area and/or change access thereto so long as such reduction or change does not materially
alter the number of spaces or ease of access thereto; (iii) Landlord has no obligation to provide a parking garage attendant;
(iv) if and when so requested by Landlord, Tenant shall furnish Landlord with the license numbers of any vehicles of Tenant, or
its Occupants, agents and employees; and (v) Landlord shall not be liable to Tenant or to any of its Occupants, agents, employees
or invitees of Tenant for injuries to person or loss or damage to property, and Landlord shall have no liability on account of
any loss or damage to any vehicle or the contents thereof, Tenant hereby agreeing to bear the risk of loss for same, including,
without limitation, as a result of fire, theft, vandalism or collision, in connection with the use of the parking facilities area.

 

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5.
Alterations or Improvements by Tenant.

 

5.1. Tenant
shall make no alterations, changes, decorations, installations, additions or improvements (collectively hereinafter referred to
as “Alterations”) in or to the Premises of any nature without Landlord’s prior written consent. Subject to the
prior written consent of Landlord, Tenant, at Tenant’s sole cost and expense, may hire contractors approved by Landlord
to make Alterations which are nonstructural and which do not affect the plumbing, electrical, heating, air-conditioning, or mechanical
systems (collectively, “Building Systems”) in or to the Premises or the Building; provided, however, all such work
shall be performed in compliance with Landlord’s rules and regulations with respect to Alterations. The Alterations shall,
upon installation, become the property of Landlord. Nothing in this Paragraph 5 shall be construed to give Landlord title to or
to prevent Tenant’s removal of trade fixtures or moveable office furniture and equipment, but upon removal of any such items
from the Premises or upon removal of any other installation as may be permitted by Landlord, Tenant shall immediately and at its
sole cost and expense, repair and restore the Real Property to the condition existing prior to such removal. All property permitted
or required to be removed by Tenant at the Expiration Date or sooner termination of the Term which remains on the Premises after
the Expiration Date or sooner termination of the Term shall be deemed abandoned and may, at the election of Landlord, either be
retained as Landlord’s property or may be removed from the Premises by Landlord at Tenant’s expense. At Landlord’s
option, Landlord may, at the expiration of the Term, require Tenant, at Tenant’s sole cost and expense, to remove Alterations
made by or on behalf of Tenant and to repair and restore the Premises to the condition existing prior to the making of such Alterations.

 

5.2. Prior
to the commencement of any Alterations, Tenant shall, at its sole cost and expense, obtain all required permits, approvals and
certificates required by all governmental authorities having jurisdiction thereover and shall furnish Landlord with evidence of
same, and, upon completion of the Alterations, shall furnish Landlord with certificates of final approval thereof. Tenant shall
carry and will cause Tenant’s contractors and subcontractors to carry such worker’s insurance as is required by law
and as may be required by Landlord.

 

5.3. As
a condition precedent to the consent of Landlord to any Alteration, Tenant agrees to obtain and deliver to Landlord guarantees
and/or other security reasonably required by Landlord for the cost of all work, labor and services to be performed and materials
to be furnished in connection with such work. If, notwithstanding the foregoing, any mechanic’s or materialmen’s lien
is filed against the Real Property for work claimed to have been done for, or materials claimed to have been furnished to, Tenant,
such lien shall be discharged by Tenant within thirty (30) days thereafter, at Tenant’s sole cost and expense, by the payment
thereof or by filing a bond. If Tenant shall fail to timely discharge any such mechanic’s or materialmen’s lien, Landlord
may, at its option, discharge the same and treat the cost thereof as Additional Rent payable by Tenant to Landlord upon demand;
it being hereby expressly covenanted and agreed that such discharge by Landlord shall not be deemed to cure, waive or release
the Default of Tenant in not discharging the same, such that Landlord shall not be estopped from exercising any of its other remedies
due to the occurrence of such Default. It is expressly understood and agreed by Landlord and Tenant that any Alterations shall
be deemed constructed on behalf of Tenant and not Landlord, and that, if Landlord gives its written consent to Tenant’s
making any such Alterations, such written consent is not and shall not be deemed to be an agreement or consent by Landlord to
subject Landlord’s interest in the Premises, the Building or the Real Property to any mechanic’s or mate-rialmen’s
liens which may be filed in respect to any Alterations made by or on behalf of Tenant, Landlord hereby advising Tenant that it
does not consent to any lien being filed against Landlord’s interest in the Premises, the Building or the Real Property.

 

5.4. Should
Tenant make any Alteration in violation of the terms hereof Landlord shall have the right to enter the Premises and remove such
unauthorized Alteration and Tenant shall be liable for any and all expenses incurred by Landlord in said removal and subsequent
restoration of the Real Property to the condition existing prior to the making of such Alteration.

 

6.
Maintenance.

 

6.1. Tenant
shall take good care of the Premises throughout the Term, including, without limitation, the plumbing, electrical and mechanical
systems servicing the Premises, and preserve same in the condition delivered to Tenant on the Commencement Date, normal wear and
tear, casualty and condemnation excepted. Tenant shall not injure, overload, deface or commit waste of the Premises. Tenant shall
be responsible for all injury or damage of any kind or character to the Real Property, including, without limitation, the windows,
floors, walls, ceilings, lights, electrical equipment and HVAC equipment, caused by Tenant or its Occupants. Landlord shall repair
the same and Tenant shall pay the costs incurred therefor to Landlord immediately upon demand plus a ten percent (10%) management
fee.

 

6.2. Except
as set forth in Paragraph 6.1, Landlord shall be responsible for all repairs to the roof, foundation and permanent exterior walls
and support columns of the Building, and shall maintain and repair all Building Systems, the parking facilities, and the exterior
of the Building.

 

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7.
Compliance with Laws and Insurance.

 

7.1.
Tenant, at its sole cost and expense, will promptly comply with all applicable laws, guidelines, rules, regulations and requirements,
whether of federal, state or local origin, applicable to the Tenant or the Premises. Tenant shall not do, or permit anything to
be done, in or to or about the Premises, or bring or keep anything therein which will, in any way: (i) increase the cost of fire
or public liability insurance on the Real Property; or (ii) invalidate or conflict with the fire insurance or public liability
insurance policies covering the Real Property, the Building, the Building fixtures or any personal property kept therein; or (iii)
obstruct or interfere with the rights of Landlord or of other tenants; or (iii) injure or annoy Landlord or other tenants; or
(iv) subject Landlord to any liability for injury to persons or damage to property; or (v) conflict with the present or future
laws, rules or regulations of any governmental authority. Tenant agrees that it will bear the cost of purchasing, installing and
inspecting the fire extinguisher, if any, which is required by the Fort Lee Fire Department or any other proper authority to be
maintained in the Premises.

 

8.
Subordination and Estoppel.

 

8.1. Tenant
agrees that this Lease is subject and subordinate to all ground or underlying leases and to the lien of any mortgages or deeds
of trust which are now or may hereafter be made a lien upon the Real Property, and to all advances made or hereafter to be made
upon the security thereof and to all recastings, renewals, modifications, consolidations, replacements and extensions of any such
lease(s), mortgage(s) or deed(s) of trust, and to all increases and voluntary and involuntary advances made thereunder. This subordination
provision shall be self-operative and no further instrument of subordination shall be required, provided, however, that without
in any way modifying the self-operative nature of this Paragraph, Tenant, within five (5) business days of Landlord’s request,
shall execute and deliver such further instrument or instruments confirming this subordination as shall be desired by Landlord
or by any mortgagee or proposed mortgagee of the Real Property. Tenant covenants and agrees to attorn to, recognize and be bound
to, as its new Landlord, any purchaser at any foreclosure sale or any party which acquires title to the Building pursuant to the
exercise of any remedy provided for in any mortgage or by reason of the acceptance of a deed in lieu of foreclosure, and this
Lease shall continue in full force and effect as a direct Lease between Tenant and said party. Tenant agrees to execute such further
evidence of attornment to any such party as such party shall reasonably require. Tenant agrees that in no event shall any mortgagee
or any such person, whether in the capacity of holder of a mortgage secured by the Real Property or in the capacity of successor
landlord by virtue of the exercise of any remedy provided for in its mortgage or by reason of the acceptance of a deed in lieu
of foreclosure, be liable to Tenant for any act or omission of Landlord which occurred prior to the date that such mortgagee or
party acquires title to the Real Property.

 

8.2. Tenant
agrees at any time and from time to time, upon not less than five (5) days’ prior written request by Landlord, to execute,
acknowledge and deliver to Landlord a true and accurate statement in writing certifying: (i) that this Lease is unmodified and
in full force and effect (or, if there have been modifications, that the same are in full force and effect as modified and stating
the modifications); (ii) that there are no offsets, defenses, defaults, or counterclaims under this Lease or against Landlord
(or, if so, what the same are); (iii) the dates to which the Basic Rent and Additional Rent have been paid; (iv) the Commencement
Date and Expiration Date; (v) that Landlord has completed all of the work for which it is responsible pursuant to Exhibit B;
and (vi) such other information as Landlord or its designee may request; it being intended that any such statement delivered pursuant
to this Paragraph 8.2 may be relied upon by a prospective purchaser of Landlord’s interest or mortgagee of Landlord’s
interest or assignee of any mortgage upon Landlord’s interest in the Real Property, and that such statement shall, in all
respects, conclusively bind Tenant with respect to the matters set forth therein.

 

9.
Destruction - Fire or Other Casualty.

 

9.1. If
the Premises or the Building shall be damaged by fire or other casualty, then, except as otherwise provided in Paragraph 9.2 hereof,
the damage shall be repaired by and at the expense of Landlord and, until such repairs shall be made, the Basic Rent and Additional
Rent shall be equitably abated according to the part of the Premises which is usable by Tenant. Landlord, subject to Paragraph
37.3 hereof, agrees to make such repairs in a prompt and expeditious manner following the receipt by Landlord of insurance proceeds
payable to Landlord by virtue of such fire or other casualty. Landlord shall have no obligation to repair or replace Tenant’s
Alterations or furniture, furnishings and equipment, and Tenant shall repair or replace the same at Tenant’s sole cost and
expense. Landlord will not be liable for any damage to or any inconvenience or interruption of the business of Tenant or any of
Tenant’s agents, invitees or Occupants occasioned by fire or other casualty.

 

    	 	Page 8

     

    

 

9.2. If
the Building is substantially destroyed or is rendered wholly untenantable by fire or other casualty, or if the Building or the
Premises cannot reasonably be repaired within ninety (90) days of the fire or other casualty, or if Landlord shall decide to demolish
the Building or not to rebuild the Building or the Premises, or if the then governing zoning regulations do not allow for the
restoration of the Building, or if any mortgagee does not make insurance proceeds available to Landlord, then Landlord may decide
to not repair the damage caused by the casualty. Landlord shall, within ninety (90) days after such fire or other casualty, give
Tenant a notice of such decision, and thereupon the Term shall expire five (5) days after such notice is given, in which case
Tenant shall vacate the Premises and surrender the same as if such termination date were the originally specified Expiration Date.

 

10.
Mutual Waiver of Subrogation.

 

10.1.
Landlord hereby waives any and all rights of recovery against Tenant for or arising out of damage to or destruction of the Premises,
the Building, or the Real Property and any other property of Landlord from causes then insured under standard fire and extended
coverage insurance policies or endorsements to the extent that its insurance policies in effect at the time of any such damage
or destruction permit such waiver, and Tenant hereby waives any and all rights of recovery against Landlord for or arising out
of damage to or destruction of the Premises, the Building or the Real Property and any property of Tenant and each of its Occupants
from causes then insured under standard fire and extended coverage insurance policies, as well as arising out of any interruption
of Tenant’s business or any loss of Tenant’s profits, regardless of whether its insurance policies in effect at the
time of such damage or destruction permit such waiver. If, at any time during the Term, any insurance carrier which shall have
issued a policy to Landlord covering the Real Property, the Premises, the Building shall refuse to consent to the waiver of the
right of recovery with respect to any loss payable under such policy, or if such carrier shall consent to such waiver only upon
the payment of an additional premium (unless such additional premium is voluntarily paid by one of the parties hereto) or shall
cancel a consent previously given, or shall cancel or threaten to cancel any policy previously issued and then in force, the waiver
by Landlord in this Paragraph 10.1 shall thereupon be of no further force and effect as to the loss, damage or destruction covered
by such policy.

 

11.
Condemnation and Other Proceedings.

 

11.1.
If all or any portion of the Premises or the Building shall be acquired pursuant to or condemned in eminent domain proceedings
or by giving of a deed in lieu thereof, or if all or any portion of the Premises or the Building shall be ordered demolished or
declared unfit for present use by any governmental body, or if, as a result of any condemnation or order affecting all or any
portion of the Premises or the Building, substantial alteration or reconstruction of the Building or the Premises shall, in the
opinion of Landlord, be necessary or desirable, then and in any such event this Lease and the term and estate hereby granted may
be terminated by Landlord on sixty (60) days’ written notice (or such lesser period as may be necessary under the circumstances
in order for Landlord to comply with the applicable ruling or order of any governmental body).

 

11.2.
If Landlord does not exercise its option to terminate this Lease as herein above set forth in Paragraph 11.1, and if the Premises
are reduced in size due to an event described in Paragraph 11.1, the Basic Rent and Additional Rent payable by Tenant for the
remaining usable portion of the Premises shall be equitably apportioned and abated.

 

11.3.
In the event of any termination under this Paragraph 11, Tenant shall have no claim against Landlord or the condemning authority
for the value of any unexpired Term and shall have no other claim against Landlord excepting the adjustment of the Basic Rent
and Additional Rent as herein above mentioned, nor shall Tenant be entitled to, and Tenant waives any interest in, any portion
of any amount that may be awarded as compensation or damages or paid as a result of such proceedings or as the result of any agreement
made by any governmental authority with Landlord.

 

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11.4.
Tenant may, if allowed by statute, seek such awards or damages for moving expenses, loss of movable trade fixtures and other movable
equipment installed by it (if any) which do not, under the terms of this Lease, become the property of Landlord. Such awards or
damages must be made by a condemnation court or other authority and must be separate and distinct from any award to Landlord in
connection with the Real Property and shall not diminish any award of Landlord.

 

12.
Assignment and Subletting.

 

12.1.
Tenant shall not, without the prior written consent of Landlord in each instance, by operation of law or otherwise, assign this
Lease, sublet the Premises or any part thereof, mortgage or encumber this Lease, or permit the Premises to be used by others.
Any attempt to do so by Tenant shall be void. The consent by Landlord to any assignment, mortgage, encumbrance, subletting or
use of the Premises by others in any one or more instances shall not constitute a waiver of Landlord’s right to withhold
its consent to any other assignment, mortgage, encumbrance or use of the Premises by others. Neither this Lease nor the interest
of Tenant herein or any assignee of Tenant herein shall pass by operation of law or be subject to garnishment or sale in connection
with any suit or proceeding which may be brought by or against Tenant or any assignee of Tenant.

 

12.2.
Subject to the provisions of Paragraph 12.4 hereof, Landlord covenants and agrees that it will not unreasonably withhold its consent
to Tenant’s assigning or subletting all or a part of the Premises. Without limiting the general nature of the prior sentence,
it shall be reasonable for Landlord to refuse to consent to any proposed subletting or assigning if: (i) any mortgagee refuses
to consent to such subletting or assigning; or (ii) the proposed subtenant or assignee (or an affiliate thereof) is a tenant in
the Building; or (iii) if the proposed subtenant or assignee has viewed space to rent in the Building within the four months immediately
prior to Tenant’s request for consent; or (iv) there shall be a Default at the time of any request for consent under the
terms of Paragraph 12; or (v) the proposed assignee or subtenant desires to use the Premises for any use other than the Permitted
Use. Further, any consent delivered by Landlord shall be automatically and retroactively revoked, without any act by Landlord,
if a Default shall exist on the effective date of such subletting or assigning.

 

12.3.
If Tenant requests Landlord’s consent to an assignment of this Lease or a subletting of all or any part of the Premises,
Tenant shall submit to Landlord:

 

●        The
sum of three hundred dollars ($300.00) as a nonrefundable fee to process each such request;

 

●        the
name of the proposed assignee or subtenant;

 

●        the
terms of the proposed assignment or subletting;

 

●        the
nature of the proposed subtenant’s or assignee’s business; and

 

●        such
information as to the proposed subtenant’s or assignee’s identity, financial responsibility and general reputation
as Landlord may reasonably require.

 

12.4.
Upon the receipt of such request and information from Tenant, Landlord shall have the option, to be exercised in writing within
thirty (30) days after such receipt, to either (1) cancel and terminate this Lease if the request is to assign this Lease or to
sublet all or substantially of the Premises; or (2) grant or deny said request based upon the reasonableness standard set forth
in Paragraph 12.2 above. In determining whether to consent to Tenant’s proposed sublessee or assignee, Landlord may consider,
without limitation, such party’s financial standing, character and business.

 

12.5.
If Landlord shall give notice of its election to cancel this Lease pursuant to Paragraph 12.4 hereof, Tenant shall surrender possession
of the Premises or the portion of the Premises which is subject of the request, as the case may be, 30 days after the date set
forth in such notice and in accordance and compliance with the provisions of this Lease relating to surrender of the Premises.

 

    	 	Page 10

     

    

 

12.6. If Landlord
shall consent to a sublease or assignment pursuant to the request from Tenant, Tenant shall cause to be executed by its assignee
or subtenant an agreement, in such form as Landlord shall reasonably prescribe, to perform faithfully and to assume and be bound
by all of the terms, covenants, conditions, provisions and agreements of this Lease. Tenant shall also deliver an executed copy
of each sublease or assignment and assumption, in such form as Landlord shall reasonably prescribe, not less than five (5) days
prior to the commencement of occupancy set forth in such assignment or sublease. If Tenant realizes any profit from such assignment
or sublease, Tenant shall pay over to Landlord 100% of said profit as and when it is collected by Tenant. For purposes of this
subsection, “profit” shall mean any amount per square foot paid to Tenant in relation to the Premises for a specific
period of time which exceeds the amount per square foot that Tenant is obligated to pay to Landlord in relation to the Premises
for that period of time, net of actual and reasonable expenses incurred in connection with the subletting or assignment transaction
in question, amortized over the term of the transaction in question.

 

12.7.
In no event shall any assignment or subletting release or relieve Tenant from its obligations under this Lease, whether arising
prior to or after such event.

 

13.
Surrender.

 

13.1.
Upon the Expiration Date or the sooner expiration of the Term, Tenant shall peaceably and quietly quit and surrender to Landlord
the Premises, broom clean, in as good condition as they were in on the Commencement Date, ordinary wear and tear, casualty and
condemnation and Alterations permitted by Landlord to remain, excepted. Tenant’s obligation to observe or perform this covenant
shall survive the Expiration Date or prior expiration of the Term. If the Expiration Date falls on a Saturday or Sunday or a legal
holiday, this Lease shall expire at 12:00 noon on the business day first preceding said date.

 

14.
Holding Over.

 

14.1.
If Tenant holds possession of the Premises beyond the Expiration Date or sooner expiration of the term, Tenant shall be obligated
to pay DOUBLE the Basic Rent and Additional Rent payable hereunder during the last Lease Year, and shall be bound by all of the
other terms and conditions of this Lease. Nothing contained in this Lease shall be construed as a consent by Landlord to the occupancy
or possession by Tenant of the Premises beyond the Expiration Date or sooner expiration of the Term, and Landlord, upon said Expiration
Date or sooner expiration of the Term, shall be entitled to the benefit of all legal remedies that now may be in force or may
be hereafter enacted relating to the speedy repossession of the Premises and to all damages to which Landlord is entitled, including,
without limitation, any damages suffered by Landlord due to Landlord’s inability to timely deliver the Premises to a new
tenant.

 

15.
Landlord’s Right to Entry.

 

15.1.
Landlord and Landlord’s agents and representatives shall have the right to enter into or upon the Premises, or any part
thereof, to conduct, and shall have the right to perform, the following:

 

●        examinations
of the Premises;

 

●        the
making of such repairs or alterations therein as may be necessary in Landlord’s sole judgment for the safety and preservation
thereof;

 

●        the
erection, maintenance, repair or replacement of wires, cables, conduits, vents or Building Systems running in, to or through the
Premises; and

 

●        the
exhibition of the Premises to prospective new tenants, purchasers or mortgagees.

 

15.2.
Landlord, in exercising any of its rights under this Paragraph 15, shall not be deemed to have caused an eviction, partial eviction,
constructive eviction or disturbance of Tenant’s use or possession of the Premises and shall not be liable to Tenant for
same.

 

    	 	Page 11

     

    

 

15.3.
Except in the case of any event which Landlord deems to constitute an emergency, which determination shall be in Landlord’s
sole and unfettered judgment, all alterations or repairs performed by or on behalf of Landlord in or on the Premises pursuant
to this Paragraph 15 shall be performed with as little inconvenience to Tenant’s business as is reasonably practicable under
the circumstances.

 

16.
Default.

 

16.1.
Each of the following, whether occurring before or after the Commencement Date, shall be deemed a default by Tenant and a breach
of this Lease (hereinafter, a “Default”):

 

●        the
filing of a petition by or against Tenant for adjudication as a bankrupt, or for reorganization, or for arrangement under any
bankruptcy act;

 

●        the
commencement of any action or proceeding for the dissolution or liquidation of Tenant, whether instituted by or against Tenant,
or for the appointment of a receiver or trustee of the property of Tenant under any state or federal statute for relief of debtors;

 

●        the
making by Tenant of an assignment for the benefit of creditors;

 

●        the
suspension of business by Tenant or any act by Tenant amounting to a business failure;

 

●        the
filing of a tax lien or mechanics’ lien against any property of Tenant;

 

●        Tenant’s
causing or permitting the Premises to be vacant or abandonment of the Premises for a period in excess of ten (10) days;

 

●        failure
by Tenant to pay Landlord when due hereunder Basic Rent, Additional Rent or any other sum required to be paid by Tenant under
the terms of this Lease; or

 

●        failure
by Tenant to perform when required hereunder any other term, covenant, agreement or condition of this Lease required to be performed
by Tenant.

 

17.
Landlord’s Rights Upon Tenant’s Default.

 

17.1.
If, (i) in the case of a Default based upon the nonpayment of Basic Rent, Additional Rent or any other sum of money due to Landlord
hereunder, Tenant fails to cure such Default by paying such sum within five (5) days after the date Landlord gives notice that
the same is unpaid and overdue, or (ii) in the case of any other Default, Tenant fails to cure such Default within fifteen (15)
days after notice thereof is given by Landlord, Landlord may immediately or at any time thereafter, without further notice to
Tenant, (i) enter upon the Premises as agent for Tenant, by legal entry, without terminating this Lease and do any and all acts
Landlord may deem necessary, proper or convenient to cure such Default, for the account of and at the expense of Tenant, and Tenant
agrees to pay Landlord, upon demand, all damages and expenses incurred by Landlord in so doing; or (ii) terminate this Lease and
Tenant’s right to possession of the Premises and, with or without legal process, take possession of the Premises and remove
Tenant, any occupant and any property therefrom, without being guilty of trespass, without liability whatsoever to Tenant and
without relinquishing any rights of Landlord against Tenant.

 

17.2.
In the event this Lease is so terminated, Tenant shall vacate the Premises on the termination date as if such date were the originally
scheduled Expiration Date, and shall pay to Landlord as damages an amount equal to the amount herein covenanted to be paid as
Basic Rent and Additional Rent throughout the entire Term (as if same had not expired until the originally scheduled Expiration
Date), together with: (i) all expenses of any proceedings (including, but not limited to, reasonable legal expenses and attorney’s
fees) which Landlord incurs in order to recover possession of the Premises; (ii) all reasonable expenses of re-letting the Premises
including, but not limited to, commissions paid to real estate brokers, advertising expenses and the reasonable cost of such alterations,
repairs, replacements and decoration or redecoration as Landlord, in the reasonable exercise of its judgment, considers
advisable and necessary for the purposes of re-renting the Premises; and (iii) any and all other sums which are provided to be
paid by Tenant hereunder in the event of its Default; provided, however, that there shall be credited against the amount of such
damages all amounts received by Landlord from such re-renting of the Premises.

 

    	 	Page 12

     

    

 

17.3.
Landlord may maintain separate actions against Tenant each month to recover the damages incurred in such month without waiting
until the end of the Term to determine the aggregate amount of such damages, or Landlord, at its option, if the Premises have
been re-let for a term extending at least as long as the remainder of the Term hereof, may recover from Tenant in advance for
the entire deficiency to be realized during the term of the re-letting. Tenant hereby expressly waives any and all rights of redemption
granted by or under any present or future laws in the event of the eviction of Tenant, or in the event of Tenant’s being
dispossessed for any cause, or in the event of Landlord’s obtaining possession of the Premises by reason of the violation
by Tenant of any of the covenants or conditions of this Lease.

 

17.4.
Landlord may apply against the damages due in the event of Tenant’s Default any Basic Rent, Additional Rent, Security Deposit
or other moneys received from Tenant or others on behalf of Tenant or in connection with the Lease.

 

17.5.
To secure the payment of any and all sums payable by Tenant hereunder and to assure Tenant’s faithful performance of its
obligations hereunder, Tenant hereby grants to Landlord an express contractual lien on and security interest in all property,
chattels and merchandise in the Premises and in all proceeds of any insurance which may accrue to Tenant by reason of damage to
or destruction of any such property, chattels or merchandise. Landlord shall have the right, as agent for Tenant, to take possession
of any furniture or fixtures of Tenant found upon the Premises after taking possession of the same pursuant to the Paragraph 17
and may sell the same at any private or public sale and apply the proceeds to any amount due Landlord. Tenant waives any notice
of execution or levy in connection therewith.

 

18.
Landlord’s Remedies Cumulative; Expenses.

 

18.1.
No remedy provided to Landlord pursuant to this Lease shall be deemed an exclusive remedy, but rather all rights and remedies
of Landlord herein enumerated shall be cumulative, and none shall exclude any other right or remedy allowed by law or at equity.
All such remedies may be exercised from time to time in such order and in such combination as Landlord elects. For the purposes
of any suit based upon the provisions hereof, this Lease shall be construed to be a divisible contract toward the end that successive
actions may be maintained on this Lease as successive periodic sums become due hereunder.

 

18.2.
Tenant agrees to pay, upon demand, all of Landlord’s reasonable costs, charges and expenses, including Landlord’s
legal fees and legal costs, which Landlord incurs in collecting from Tenant the sums that Tenant is obligated to pay hereunder
and in enforcing Landlord’s remedies and Tenant’s obligations hereunder.

 

18.3.
If Tenant fails to pay any installment of Basic Rent, Additional Rent or any other sum due and payable to Landlord on or before
the day such installment becomes due and payable, Tenant shall pay to Landlord (i) a late charge (to cover Landlord’s administrative
and overhead expenses of processing late payments) equal to the greater of one hundred ($100.00) dollars or five percent (5%)
of the amount of such installment, and (ii) interest on such unpaid installment at a rate per annum which is two (2%) percent
greater than the “prime rate”, “base rate” or “reference rate”, as fixed from time to time
by Citibank, NA (or its successor) then in effect (or if such prime rate, base rate, or reference rate is not available, a replacement
rate reasonably designated by Landlord) from the date such installment became due and payable to the date of payment thereof by
Tenant; provided, however, that nothing herein contained shall (a) entitle Tenant to not make payment of any sum required to be
paid hereunder as and when due or (b) be construed or implemented in such a manner as to allow Landlord to charge or receive interest
in excess of the maximum legal rate then allowed by law. Should Landlord receive any payment which is judicially determined to
be in excess of the maximum legal rate allowed by law, such excess amount shall be refunded promptly to Tenant, this Lease shall
remain in full force and effect, and Landlord shall have no further liability in connection therewith.

 

18.4.
All late charges and interest payable hereunder shall constitute Additional Rent hereunder and shall be due and payable on demand.

 

    	 	Page 13

     

    

 

19.
No Waiver.

 

19.1.
Landlord shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver shall be in writing and
signed by Landlord. No waiver by Landlord of any breach by Tenant of any of the terms, covenants, agreements, or conditions of
this Lease shall be deemed to constitute a waiver of any succeeding breach thereof or of any breach of any of the other terms,
covenants, agreements and conditions herein contained.

 

19.2.
No offer of surrender of the Premises, by delivery to Landlord or its agent or employee of keys to the Premises or otherwise,
will be binding on Landlord unless accepted by Landlord, in a writing pursuant to which Landlord expressly agrees to the effective
surrender of the Premises. At the expiration or termination of the Lease Term, Tenant shall deliver to Landlord all keys, “swipe”
cards and similar items to the Premises and make known to Landlord the location and combinations of all locks, safes and similar
items.

 

19.3.
The receipt by Landlord of Basic Rent or Additional Rent payable hereunder with knowledge of the breach of any covenant of this
Lease shall not be deemed a waiver of such breach. No payment by Tenant or receipt by Landlord of a lesser amount than the Basic
Rent or Additional Rent then due shall be deemed to be other than on account of the earliest amount then due pursuant to the terms
hereof, nor shall any endorsement or statement on any check or in any letter or other instrument accompanying any check or payment
of Basic Rent or Additional Rent be deemed binding on Landlord in any manner whatsoever or an accord and satisfaction. Landlord
may accept such check or payment without prejudice to Landlord’s rights hereunder, including Landlord’s right to recover
the balance of such Basic Rent or Additional Rent or to pursue any other remedy provided in this Lease. No receipt of money by
Landlord from Tenant after the Expiration Date (or sooner termination) shall reinstate, continue or extend the Lease Term, unless
Landlord specifically agrees to same in a writing signed by Landlord at such time.

 

19.4.
The failure of Landlord to enforce any of the Rules or Regulations as may be set by Landlord from time to time against Tenant
or against any other tenant in the Building shall not be deemed a waiver of any such Rule or Regulation.

 

20.
Landlord’s Reserved Rights.

 

20.1.
If, during or prior to the last ninety (90) days of the Term, Tenant vacates the Premises, Landlord may enter the Premises immediately
to decorate, remodel, repair, alter or otherwise prepare the Premises for occupancy by a new tenant, without liability to Tenant
and without affecting Tenant’s obligation to pay the Basic Rent and Additional Rent payable hereunder which accrues through
and including the Expiration Date.

 

20.2.
Landlord has the right to make changes in and about the Building, garages and parking facilities, including, but not limited to,
signs, entrances or address. Such changes may include, but not be limited to, rehabilitation, redecoration, refurbishment and
re-fixturing of the Building, and expansion of or structural changes to the Building, and the redesign of the lobby, the Building
doorways, the hallways, the hallway doorways, or other common areas. Without limiting the general nature of the prior sentence,
Landlord may increase the leasable space of the Building by reducing the size of what is currently the lobby. Landlord has the
right to change the street address and name of the Building. The right of Tenant to quiet enjoyment and peaceful possession given
under the Lease will not be deemed breached or interfered with by reason of Landlord’s actions pursuant to this paragraph
so long as such actions do not materially deprive Tenant of its use and enjoyment of the Premises.

 

21.
Landlord’s Liability.

 

21.1.
Landlord shall not be liable for any injury, damage or loss to persons or property resulting from fire, explosion, falling plaster,
steam, gas, electricity, water, rain, snow or leaks from any source whatsoever, or any theft of the property or possessions of
Tenant or its Occupants.

 

21.2.
Anything contained in this Lease to the contrary notwithstanding, Tenant agrees that it shall look solely to the estate of Landlord
in the Real Property for the collection of any judgment (or other judicial process) requiring the payment of money by Landlord
for any Default or breach by Landlord of any of its obligations under this Lease or otherwise. No other assets of Landlord shall
be subject to levy, execution or other judicial process for the satisfaction of Tenant’s claim. This provision shall not
be deemed, construed or interpreted to be or constitute an agreement, express or implied, between Landlord and Tenant that Landlord’s
interest in the Real Property shall be subject to impressment of an equitable lien or any other similar type of lien. Tenant’s
sole right against Landlord for any failure to give any consent or approval required of Landlord hereunder shall be an action
for specific performance to compel Landlord to give the required consent or approval, and Tenant hereby specifically disclaims
any right to damages as against Landlord on account of any such failure to give consent or approval.

 

    	 	Page 14

     

    

 

22.
Tenant’s Liability.

 

22.1.
Tenant shall reimburse Landlord for all expenses, damages or fines, reasonable legal fees and costs incurred or suffered by Landlord
by reason of any breach, violation or nonperformance by Tenant of any covenant or provision of this Lease, including, without
limitation, any action commenced against Tenant or Landlord, or by reason of damage to persons or property caused by moving property
of or for Tenant in or out of the Building or by the installation or removal of furniture, fixtures or other installations or
property of or for Tenant, or by reason of or arising out of the carelessness, negligence or improper conduct of Tenant or any
of its Occupants. Any such amount so payable shall be deemed Additional Rent and shall be due and payable by Tenant upon demand.

 

22.2.
Tenant shall not do or permit or suffer any act or thing to be done upon the Premises which may subject Landlord, its partners,
members, managers, shareholders, officers, directors, employees, agents (including, without limitation, leasing and managing agents)
and contractors (together collectively, “Indemnitees”) to any liability or responsibility for injury, damages to persons
or property or to any liability by reason of any violation of law or of any Legal Requirement, but shall exercise such control
over the Premises as to fully protect In-demnitees against any such liability. Tenant shall “indemnify”, defend, protect,
save and hold harmless the Indemnitees and each of them from and against (i) all claims against In-demnitees of whatever nature
arising from any act, omission or negligence of Tenant, or any of its Occupants; (ii) all claims against Indemnitees arising from
any incident, accident, injury or damage whatsoever caused to any person or to the property of any person and occurring during
the term of this Lease in or about the Premises, and (iii) any breach, violation or nonperformance of any covenant, condition
or agreement in this Lease set forth and contained on the part of Tenant to be fulfilled, kept, observed or and performed. Throughout
this Lease, when Tenant is to “indemnify” Landlord or any other person from any “claim”, Tenant’s
obligation shall be to indemnify, defend, protect, save and hold Landlord and each such other person harmless from and against
any and all liability, obligations, damages, penalties, claims, causes of action, fines, suits, demands, costs and expenses of
any kind or nature incurred in or in connection with any event giving rise to the obligation to “indemnify” including,
without limitation, attorneys’ fees and disbursements in consultation, at trial, and on appeal. Indemnitees, from time to
time, may submit to Tenant copies of Indemnitees’ bills in connection with the foregoing, and Tenant upon receipt of such
bills shall promptly pay to Landlord, as Additional Rent, the amount shown on such bills.

 

22.3.
If any claim, action or proceeding is made or brought against any Indemnitee, which claim, action or proceeding the Tenant shall
be obligated to indemnify against pursuant to the terms of this Lease, then, upon demand by Landlord, Tenant, at its sole cost
and expense, shall resist or defend such claim, action or proceeding in the Indemnitee’s name, if necessary, by such attorneys
as such Indemnitee shall reasonably approve. Notwithstanding the foregoing, Indemnitee may retain its own attorneys to defend
or assist in defending any claim, action or proceeding (a) involving potential liability of One Million Dollars ($1,000,000) or
more, or (b) which Landlord reasonably believes is not being defended competently or in good faith, and Tenant shall pay the reasonable
fees and disbursements of such substituted attorneys. The provisions of this Paragraph shall survive the expiration or earlier
termination of this Lease.

 

23.
Tenant’s Insurance.

 

23.1.
Tenant covenants to provide on or before the Commencement Date and throughout the Term for the benefit of Landlord, Landlord’s
mortgagee, Landlord’s Managing Agent and Tenant:

 

●        A
comprehensive policy of liability insurance and/or Certificate of Insurance, with a deductible not exceeding $2,500, protecting
Landlord, Landlord’s mortgagee, Landlord’s Managing Agent and Tenant against any liability whatsoever occasioned by
accident on or about the Real Property, the Building or the Premises or any appurtenances thereto. Such policy is to be written
by insurance companies qualified to do business in the State of New Jersey and which are rated “Grade A-X” or better
in Best’s and at limits of liability in minimum amounts approved by Landlord from time to time in respect of any one person,
in respect of any one accident and in respect to property damage. The original amounts thereof are as set forth in Item M of the
Basic Lease Provisions. Such insurance may be carried under a blanket policy covering the Premises and other locations of Tenant,
if any.

 

    	 	Page 15

     

    

 

●        Fire
and Extended Coverage, Vandalism, Malicious Mischief and Special Extended Coverage Insurance in an amount adequate to cover the
cost of replacement of all personal property, decorations, trade fixtures, furnishings and equipment in the Premises and all contents
therein. Landlord shall not be liable for any damage to property of Tenant by fire or other peril, no matter how caused, it being
understood that Tenant will look solely to its insurer for reimbursement.

 

23.2.
Prior to the time such insurance is first required by this Paragraph 23 to be carried by Tenant and thereafter, at least thirty
(30) days prior to the expiration of any such policy, Tenant agrees to deliver to Landlord either a duplicate original of the
aforesaid policy or a certificate evidencing such insurance. Said certificate shall contain an endorsement that such insurance
may not be canceled except upon thirty (30) days’ notice to Landlord, together with evidence of payment for the policy.

 

23.3.
Upon failure at any time on the part of Tenant to procure and deliver to Landlord the policy or certificate of insurance, as herein
above provided, Landlord shall be at liberty, but shall not be obligated in any way whatsoever, from time to time, as often as
such failure shall occur, to procure such insurance and to pay the premium therefor, and any sums paid for insurance by Landlord
shall be and become Additional Rent and due immediately. Payment by Landlord of such premium or the carrying by Landlord of any
such policy shall not be deemed to waive or release Tenant’s Default with respect thereto.

 

23.4.
Tenant will not do or permit anything to be done upon or bring or keep or permit anything to be brought or kept upon the Premises
which will increase Landlord’s rate of insurance on the Building. If by reason of the failure of Tenant to comply with the
terms of this Lease, or by reason of Tenant’s occupancy (even though permitted or contemplated by this Lease), the insurance
rate charged to Landlord shall at any time be higher than it would otherwise be, Tenant will reimburse Landlord for that part
of all insurance premiums charged because of such violation or occupancy by Tenant. Tenant agrees to comply with any reasonable
requests or recommendation made by Landlord’s insurance underwriter.

 

24.
Quiet Enjoyment.

 

24.1.
Landlord covenants and agrees that, upon the performance by Tenant of all of the covenants, agreements and provisions hereof on
Tenant’s part to be kept and performed, Tenant shall have, hold and enjoy the Premises, subject to the rights, limitations
and terms herein described, free from any interference whatsoever by, from or through Landlord.

 

24.2.
Notwithstanding the foregoing, no diminution or abatement of Basic Rent, Additional Rent or other payment due to Landlord shall
be claimed by or allowed to Tenant for inconvenience or discomfort arising from the making of any repairs, improvements or alterations
to the Premises or the Real Property if the same are made to comply with any law, ordinance or order of any governmental authority
or which are necessary, in the judgment of Landlord, for the maintenance, repair, operation, or improvement of the Real Property.

 

25.
Landlord’s Services.

 

25.1.
Subject to Paragraph 37.3, Landlord shall furnish to Tenant the services set forth in this Lease and the Rules and Regulations
as services which are covered by the Basic Rent.

 

25.2.
Landlord shall furnish ventilation, air heating and air cooling, but only between the hours of 8:00 A.M. and 6:00 P.M., Mondays
through Fridays (hereinafter referred to as the “Business Hours”), Saturdays, Sundays and Building Holidays excluded,
and then only when weather conditions, in the opinion of Landlord, require. As used herein, the term “Building Holidays”
shall mean all State and Federal holidays including, but not limited to: Martin Luther King’s Day, President’s Day,
Memorial Day, Independence Day, Labor Day, Columbus Day, Veteran’s
Day, Thanksgiving Day, the day after Thanksgiving Day, Christmas Day and New Year’s Day.

 

    	 	Page 16

     

    

 

25.3.
If Tenant shall request the use of air cooling, ventilation and/or heat at any time other than the Business Hours in this Lease
provided for such services, Landlord shall furnish such to Tenant provided (i) that Tenant pays to Landlord, as Additional Rent,
a special overtime charge therefor which shall be initially $90.00 per hour (Landlord may adjust such figure from time to time),
and (ii) that Tenant’s request shall be received in writing by Landlord’s property manager by 12:00 noon at least
one business day before such service is required.

 

25.4.
Throughout the Term, Landlord agrees to redistribute electrical energy to the Premises (not exceeding the present electrical capacity
at the Premises), upon the following terms and conditions: (i) Tenant shall pay for such electrical energy as provided by this
Lease; (ii) Landlord shall not be liable in any way to Tenant for any loss, damage or expense which Tenant may sustain or incur
as a result of any failure, defect or change in the quantity or character of electricity furnished to the Premises or if such
quantity or character of electricity furnished to the Premises is no longer available or suitable for Tenant’s requirements
or due to any cessation, diminution or interruption of the supply thereof.

 

25.5.
The parties agree that Tenant will pay for the electric during the Term in such amounts as may be determined under one of the
provisions of “(x)” or “(y)” set forth below. The parties agree that the provisions of “(x)”
below shall initially apply, but that Landlord will be entitled to elect to change the applicable provision at any time during
the Term on notice to Tenant. The amount required to be paid hereunder shall be payable in monthly installments, as Additional
Rent, and shall be either, in Landlord’s discretion:

 

(x)
the fixed electricity charge set forth in Item D of the Basic Lease Provisions; or

 

(y)
the amount that is calculated as the Landlord’s cost of furnishing electricity to the Premises as determined by an independent
electrical engineering consultant selected by Landlord, based upon a survey and determination of the average monthly electrical
consumption of the lighting fixtures and the electrical equipment of Tenant used in the Premises and based further on the utility
rates being charged to Landlord, as such rates are set from time to time. Landlord shall have the right to survey the electrical
consumption of Tenant at any time during the Term, but no more often than quarterly. The findings of said consultant as to the
average monthly electrical consumption of Tenant shall be conclusive and binding on the parties hereto.

 

25.6.
Landlord shall replace as required, at Tenant’s sole cost and expense, all of Landlord’s light bulbs, fluorescent
and incandescent lamps, starters and ballasts used by Tenant in the Premises.

 

25.7.
Tenant covenants that its use of electricity in the Premises shall be limited to and for the operation of (i) building-standard
lighting, and (ii) personal computers, electric typewriters, calculators, copying machines and other small office machines.

 

25.8.
Tenant shall make no alteration to the existing electrical equipment or connect any fixtures, appliances or equipment in addition
to the equipment permitted in the following subparagraph without the prior written consent of Landlord in each instance. Should
Landlord grant such consent, all additional risers or other equipment (if any) required therefor, in Landlord’s judgment,
shall be provided by Landlord and the cost thereof shall be paid by Tenant upon Landlord’s demand. As a condition to granting
such consent, Landlord may require an increase in the monthly electrical charge by an amount which will reflect the cost of electricity
to operate the additional equipment and service to be furnished by Landlord. Absent agreement as to this charge between Landlord
and Tenant, this increase shall be determined by an independent electrical engineer, to be selected by Landlord and whose services
shall be paid for by Tenant.

 

25.9.
Landlord shall not be liable in the event of any interruption in the supply of electricity, and Tenant agrees that such supply
may be interrupted for inspection, repairs, replacements and in emergencies.

 

    	 	Page 17

     

    

 

25.10.
Landlord shall furnish, without cost to Tenant, cleaning services on Mondays through Fridays, Saturdays, Sundays and Building
Holidays excluded. Such services shall consist of general cleaning of all common areas of the Building and general cleaning of
the Premises, all in accordance with such standards and specifications as Landlord shall, from time to time, determine. Tenant
is responsible for cleaning of the restroom and the Kitchenette located within the Premises. Notwithstanding the foregoing, Tenant
shall pay for any and all reasonable costs incurred by Landlord in disposing of Tenant’s debris and garbage to the extent
the same exceeds normal, everyday “office wastebasket” debris.

 

25.11.
The failure of Landlord to furnish any service hereunder during such reasonable periods as necessary repairs or replacements are
underway, or the discontinuation of any service currently provided by commercial tenants of the Building located in the Building
lobby or elsewhere, shall not be construed as a constructive eviction of Tenant, shall not excuse Tenant from performing any of
its obligations hereunder and shall not give Tenant any claim against Landlord for damages for failure to furnish such service.

 

26.
Additional Rent.

 

26.1.
Tenant hereby covenants and agrees to pay as Additional Rent the amounts set forth below.

 

26.2.
For each year or part of a year occurring within the Term in which the total annual real estate taxes, assessments (including
special assessments), personal property tax, sewer rents, rates and charges (hereinafter referred to collectively as the “Real
Estate Taxes”) which shall be levied, imposed or assessed upon the Real Property shall exceed the Real Estate Taxes levied,
imposed or assessed for the Base Tax Year, Tenant shall pay Tenant’s Proportionate Share of such excess. Landlord may, from
time to time, notify Tenant of Landlord’s estimate of Tenant’s Proportionate Share of the excess Real Estate Taxes
for any calendar year and Tenant shall be obligated to pay Landlord, as Additional Rent along with each monthly installment of
Base Rent due during such calendar year, 1112th of such estimated amount. Tenant’s payments of such estimated amount shall
be treated by Landlord as a credit against the actual amount required to be paid by Tenant pursuant to this Paragraph 26.2. Any
overpayment which may have been made by virtue of such estimated payments shall be returned by Landlord to Tenant when the actual
amount payable by Tenant can be calculated.

 

26.3.
Notwithstanding the foregoing, Landlord may take the benefit of the provisions of any statute or ordinance permitting any Real
Estate Tax to be paid over a period of time.

 

26.4.
The amount payable by Tenant under Paragraph 26.2 shall be calculated based upon the amount billed by the taxing jurisdiction,
and shall be set forth in a statement prepared by Landlord and furnished to Tenant and which provides a computation of any amounts
due to Landlord.

 

26.5.
If Landlord shall receive any tax refund in respect of any tax year during the Term following the Base Tax Year, Landlord shall
deduct from such tax refund any expenses incurred in obtaining such tax refund and, out of the remaining balance of such tax refund,
Landlord shall credit to Tenant Tenant’s Proportionate Share of such balance. Any expenses incurred by Landlord in contesting
the validity or the amount of the assessed valuation of the Real Property or of any Real Estate Taxes for any year after the Base
Tax Year, to the extent not offset by a tax refund, shall be included as an item of and shall be added to Real Estate Taxes for
the tax year in which such contest shall be finally determined, for the purpose of computing the Additional Rent due Landlord
hereunder.

 

26.6.
If the tax year for Real Estate Taxes shall be changed, then an appropriate adjustment shall be made in the computation of the
amount due to Landlord or credit due to Tenant. If, because of any change in the method of taxation of real estate, one or more
other taxes or assessments are imposed upon one or more of Landlord, or the owner of the Real Property or the Building, or upon
or with respect to the Real Property or the Building or the rents or income therefrom, whether in substitution for or in lieu
of or in addition to any tax or assessment which would otherwise be a Real Estate Tax, such other tax or assessment shall be deemed
Real Estate Taxes for the purposes herein.

 

26.7.
Only Landlord shall be eligible to institute tax reduction or other proceedings to reduce the Taxes.

 

    	 	Page 18

     

    

 

26.8.
As used herein, the term “Landlord’s Operating Expenses” shall mean all costs and expenses paid or incurred
by Landlord in connection with the ownership, operation, management, maintenance and repair of the Real Property including, without
limitation, its equipment and mechanical systems, parking facilities, areas, decks, ramps and roadways, paving, walkways, landscaping
and public facilities, and including but not limited to the cost and expenses of materials and supplies, electricity, water, fuel,
cleaning, window cleaning, janitorial service, insurance, snow removal, painting, wallpapering, re-carpeting and otherwise redecorating
and renovating public areas, replacement of worn out mechanical or damaged equipment including, without limitation, heating, ventilating
and air conditioning equipment, uniforms, management fees, sundries, tools and equipment, excise taxes, gross receipt taxes, sales
taxes and other like taxes, wages and salaries of all persons engaged by Landlord for the operation, maintenance and repair of
the Real Property, costs of compliance by Landlord with and contests by Landlord of laws, regulations, ordinances and requirements
of the federal, state or municipal government, of any department, subdivision, bureau or office thereof, or of any other governmental,
public or quasi-public authorities now existing or hereafter created, legal and accounting expenses and any other costs and expenses
other than mortgage debt service, costs reimbursed by insurance, construction costs incurred in connection with preparing space
for a new tenant and real estate broker’s commissions. If a particular expenditure is for an item which, under generally
accepted accounting principles, constitutes a capital improvement, then such expenditure shall be included as one of Landlord’s
Operating Expenses for purposes hereof on a prorated basis, together with an imputed interest amount calculated on the unamortized
portion of such expenditure using an interest rate of 12% per annum, over its useful life. Such useful life shall be obtained
by dividing the amount of the expenditure in question by the useful life of the improvement to which it relates, as such useful
life is determined by Landlord in the reasonable exercise of its business judgment (but in no event to exceed 10 years).

 

26.9.
Tenant shall pay to Landlord as Additional Rent Tenant’s Proportionate Share of the amount by which Landlord’s Operating
Expenses for any calendar year during the Term exceeds Landlord’s Operating Expenses during the Base Operating Year.

 

26.10.
Approximately during the second month of each calendar year of the Term, or within a reasonable period of time thereafter, Landlord
shall submit to Tenant a statement (hereinafter referred to as “Landlord’s Statement”) showing in reasonable
detail Landlord’s Operating Expenses during the preceding calendar year and during the Base Operating Year. Within thirty
(30) days thereafter, Tenant shall pay to Landlord Tenant’s Proportionate Share of the amount by which Landlord’s
Operating Expenses for the preceding calendar year exceeded Landlord’s Operating Expenses for the Base Operating Year. Tenant
or its representative shall have the right to examine Landlord’s books and records relating to the expenses of the Real
Property only and only with respect to the items in the foregoing Landlord’s Statements, during normal business hours at
any time within ten (10) days following the delivery by Landlord to Tenant of such Landlord’s Statement. Unless Tenant shall
take written exception to any specific item contained in Landlord’s Statement within twenty (20) days after the Landlord’s
Statement is delivered, the same shall be considered as final and binding upon Tenant. Any controversy with respect to any written
exception shall be resolved by an independent certified public accountant mutually acceptable to Landlord and Tenant, and if such
accountant cannot be agreed upon, then by arbitration. Such arbitration shall be conducted upon the request of Tenant, but only
if Tenant is not in Default in respect of any of its obligations under the Lease and only if Tenant has paid in full to Landlord
the sums shown owing by Tenant to Landlord pursuant to the Landlord’s Statement in question. Arbitration shall be before
three arbitrators designated by the American Arbitration Association and in accordance with the rules and regulation of such Association.
The expenses of the arbitration proceedings shall be borne by the party who does not prevail in said proceedings. The fees of
counsel and experts and other witnesses engaged or called by the parties shall be paid by the respective party engaging or calling
the same. Tenant covenants and agrees that Tenant will not directly or indirectly employ in connection with any dispute under
this Lease relating to Operating Expenses any person or entity which is to be compensated, in whole or in part, on a contingency
fee basis.

 

26.11.
For each calendar year throughout the Term, Landlord may notify Tenant of Landlord’s best estimate of Tenant’s Proportionate
Share of Operating Expenses for such calendar year above Base Operating Year Operating Expenses and, in such case, Tenant shall
be obligated to pay Landlord, as Additional Rent along with each monthly installment of Basic Rent due during such calendar year,
one-twelfth (1/12th) of such estimated amount. Tenant’s payments of estimated amounts shall be treated by Landlord as a
credit against the actual amount required to be paid by Tenant pursuant to Paragraph 26.3. Any over-payment
which may have been made by virtue of such estimated payments shall be returned by Landlord to Tenant when the actual amount payable
by Tenant can be calculated.

 

    	 	Page 19

     

    

 

26.12.
Any increase or decrease in Additional Rent under this Paragraph 26 shall be prorated for the final year of the Term if such year
covers a period of less than twelve (12) months. In no event shall any adjustment in Tenant’s obligation to pay Additional
Rent under this Paragraph 26 result in a decrease in the Basic Rent payable hereunder. Tenant’s obligation to pay Additional
Rent and Landlord’s obligation to credit to Tenant any amount referred to in this Paragraph 26, for the final year of the
Term shall survive the Expiration Date.

 

26.13.
With respect to Tenant’s Proportionate Share of Operating Expenses in excess of the Base Operating Year, if the Building
is not at least ninety percent (90%) occupied during the Base Operating Year or of any calendar year during the Term, then those
items included within the Operating Expenses which are affected by variations in occupancy of the Building shall be increased
by Landlord for such calendar year (or partial calendar year) to the amount that would have reasonably been incurred had Landlord
provided such item to ninety percent (90%) of the rentable area of the Building.

 

27.
Personal Property Taxes.

 

27.1.
Tenant agrees to pay all taxes imposed on the personal property of Tenant, the conduct of its business and its use and occupancy
of the Premises.

 

28.
Security Deposit.

 

28.1.
Simultaneous with the execution hereof, Tenant has deposited with Landlord the sum specified in Item H of the Basic Lease Provisions.

 

29.
Use of Security Deposit.

 

29.1.
In the event of a Default by Tenant in respect of any of the terms, covenants or conditions of this Lease, Landlord may use, apply
or retain the whole or any part of the Security Deposit to the extent required for the payment of any Basic Rent, Additional Rent
or any other sum as to which Tenant is in Default or for any sum which Landlord may expend or may be required to expend by reason
of Tenant’s Default in respect of any of the terms, covenants or conditions of this Lease including, but not limited to,
any damages or deficiency accrued before or after summary proceedings or other reentry by Landlord. If Landlord should utilize
any portion of the Security Deposit, Tenant, upon demand, shall replenish such amount, so that the Security Deposit shall remain
undiminished throughout the Term. Tenant shall fully and faithfully comply with all of the terms, covenants and conditions of
this Lease, the portion of the Security Deposit not applied pursuant to the terms hereof shall be returned to Tenant after the
Expiration Date and after delivery of possession of the Premises to Landlord, but without any interest thereon whatsoever. The
application of the Security Deposit due to a Default shall not cure, waive or release the Default such that Landlord shall be
estopped from exercising any of its other remedies.

 

29.2.
Tenant shall not assign or encumber or attempt to assign or encumber the Security Deposit. Landlord shall not be bound by any
such assignment, encumbrance, attempted assignment or attempted encumbrance.

 

29.3.
In the event of a sale of the Real Property or a leasing thereof, Landlord shall have the right to transfer the Security Deposit
to the vendee or lessee, as the case may be, and Landlord shall thereupon be released by Tenant from all liability for the return
of such Security Deposit. In such case, Tenant agrees to look solely to the new landlord for the return of the Security Deposit.
The provisions hereof shall apply to every transfer or assignment made of the Security Deposit to a new landlord.

 

30.
Definition of Landlord.

 

30.1.
The term “Landlord” as used in this Lease shall be deemed to mean only the owner, for the time being, of the Real
Property and/or the Building or the owner of a lease of the Real Property. In the event of any transfer of title to or lease of
the Real Property, the term “Landlord” shall be deemed only to apply to the transferee thereof, and the transferor
and any person or entity theretofore serving as or constituting the “Landlord” hereunder shall be and hereby is entirely
freed and relieved of all covenants and obligations of the Landlord hereunder.

 

    	 	Page 20

     

    

 

31.
Notices.

 

31.1.
Any notice or other communication referenced in this Lease (collectively, “notices”) by either party to the other,
to be effective, shall be in writing, sent via registered or certified mail, return receipt requested, postage prepaid, or by
reputable overnight courier such as Federal Express or UPS, addressed to Landlord or Tenant at their respective addresses as specified
in Item J of the Basic Lease Provisions, or to such other address as either party shall hereafter designate by notice as aforesaid.
All notices properly addressed shall be deemed served three (3) business days after the date of mailing or one business day after
the date of delivery to the overnight courier. Attorneys to a party may deliver notices on behalf of that party.

 

32.
Signs.

 

32.1.
No sign, advertisement or notice shall be affixed to or placed upon any part of the Premises, the Building or the Real Property
by Tenant, except in such manner and of such size, design and color as shall be approved in advance in writing by Landlord. Tenant
will bear Landlord’s actual cost of fabricating and installing Tenant’s building-standard office entry door sign setting
forth Tenant’s name and such logo as Tenant furnishes and Landlord approves, in Landlord’s judgment, reasonably exercised.

 

33.
Notice of Defects and Accidents.

 

33.1.
Tenant shall give Landlord immediate notice (i) in case of accident or injury on or about the Building or the Real Property involving
Tenant or any of its Occupants, or (ii) of any defects in the Building or the Premises of which it becomes aware.

 

34.
Rules and Regulations.

 

34.1.
Tenant, on behalf of itself and its Occupants, agrees to comply with the Rules and Regulations attached hereto and incorporated
by reference as Exhibit C. Landlord shall have and expressly reserves the right to make amendments thereto from time to
time for the safety, care, maintenance, good operation and cleanliness of the Real Property and the Building, the preservation
of good order therein and the general convenience of all the tenants. Tenant agrees to comply with such amended Rules and Regulations,
after twenty (20) days’ written notice thereof from Landlord.

 

35.
Directory.

 

35.1.
Landlord shall furnish and maintain in the lobby of the Building a tenant directory of such style and type as Landlord shall determine.
Tenant shall receive two (2) listings in such directory, in building-standard form. Additional listings shall be subject to availability,
the existence of which shall be determined by Landlord, in its discretion. All listings shall be fabricated and installed at Tenant’s
sole cost and expense.

 

36.
Environmental Matters.

 

36.1.
Tenant agrees to comply with all applicable environmental laws, rules and regulations, as same are amended from time to time,
including but not limited to, the New Jersey Industrial Site Remediation Act (N.J.S.A. 13:1K6 et seq.) (“ISRA”).
Tenant shall not conduct any activity in the Premises which shall cause it to be considered an “industrial establishment”
under ISRA, or otherwise subject the Premises to the requirements of compliance with ISRA.

 

36.2.
Tenant hereby agrees to execute such documents as Landlord reasonably deems necessary and to make such applications as Landlord
reasonably requires to assure compliance with ISRA; and without limiting the generality of the foregoing will provide Landlord
within ten (10) business days of Landlord’s request for the same, an affidavit in support of a request for a nonapplicability
letter by Landlord in the form required under ISRA. Tenant shall bear all costs and expenses incurred by Landlord associated with
any required ISRA compliance resulting from Tenant’s use of the Premises, including, but not limited to, state agency fees,
engineering fees, cleanup costs, filing fees, and suretyship expenses. As used in this Lease, ISRA compliance shall include applications
for determinations of nonapplicabil-ity by the appropriate Governmental Authority upon the “closure, termination or transfer”
of Tenant’s operations at the Premises. The foregoing undertaking shall survive the termination or sooner expiration of
the Lease and surrender of the Premises and shall also survive sale, or lease or assignment of the Premises by Landlord. Tenant
shall immediately provide Landlord with copies of all written correspondence, reports, notices, orders, findings, declarations
and other materials pertinent to Tenant’s compliance with the New Jersey Department of Environmental Protection’s
(“DEP”) requirements under ISRA as they are issued or received by the Tenant.

 

    	 	Page 21

     

    

 

36.3.
Tenant shall not generate, store, manufacture, refine, transport, treat, dispose of, or otherwise permit or suffer to be present
on or about the Premises, Building or Real Property any “Hazardous Material”. As used herein, Hazardous Material shall
be defined as any “hazardous chemical,” “hazardous substance” or similar term as defined in the Comprehensive
Environmental Responsibility Compensation and Liability Act, as amended (42 U.S.C. 9601, et seg.), the New Jersey Industrial
Site Remediation Act, as amended, (N.J.1.Ten.S.A. 13:1K-6 et seq.), the New Jersey Spill Compensation and Control Act,
as amended, (N.J.S.A. 58:10-23.11b, et seg.), any rules or regulations promulgated thereunder, or in any other applicable
federal, state or local law, rule or regulation dealing with environmental protection.

 

36.4.
If Tenant breaches the obligations stated in this Paragraph 36, or if the presence of Hazardous Material on the Premises, the
Building or the Real Property caused or permitted by Tenant results in contamination by Hazardous Material of the Premises, the
Building, or the Real Property, Tenant shall “indemnify” Landlord from any and all “claims” arising out
of such events including, without limitation, diminution in value of the Premises, the Building, or the Real Property, damages
for the loss or restriction on use of rentable or usable space or of any amenity of the Premises, the Building, or the Real Property,
damages arising from any adverse impact on marketing of space, and sums paid in settlement of claims, attorney’s fees, consultant
fees and expert fees, which arise during or after the Term. This indemnification of Landlord by Tenant also includes, without
limitation, costs incurred in connection with any investigation of site conditions or any cleanup, remediation, removal, or restoration
work required by any federal, state or local governmental agency or political subdivision.

 

36.5.
Without limiting the foregoing, if Tenant is responsible pursuant to the terms hereof for the presence of any Hazardous Material
on the Premises, the Building, or the Real Property, then at Landlord’s election Tenant either shall promptly take all actions
at its sole cost and expense as are necessary to return the Premises, the Building and the Real Property to the condition existing
prior to the introduction of any such Hazardous Material to the Premises, the Building and/or the Real Property with contractors
approved by Landlord, or Tenant shall not take such actions, but shall be solely responsible for the cost and expense of such
actions as undertaken or directed by Landlord.

 

37.
Miscellaneous.

 

37.1.
Entire Agreement. This Lease contains the entire agreement between the parties, and any attempt hereafter made to change,
modify, discharge or effect an abandonment of it in whole or in part shall be void and ineffective unless in writing and signed
by the party against whom enforcement of the change, modification, discharge or abandonment is sought.

 

37.2.
Waiver. Landlord and Tenant do hereby waive trial by jury in any action, proceeding or counterclaim brought by either of
the parties hereto against the other on any matter arising out of or in any connection with this Lease, the relationship of Landlord
and Tenant, Tenant’s use or occupancy of the Premises, and/or any claim, injury or damage, or any emergency or statutory
remedy. In any action or proceeding by Landlord for eviction, Tenant waives the right to interpose any counterclaim in such eviction
action.

 

37.3.
Force Maleure. Landlord shall not be deemed in default with respect to its failure to perform any of the terms, covenants
and conditions of this Lease on Landlord’s part to be performed, if such failure is due in whole or in part to any strike,
lockout, labor dispute (whether legal or illegal), civil disorder, inability to procure materials, failure of power, conditions
of supply and demand, restrictive governmental laws and regulations, governmental preemption in connection with a national emergency,
riots, insurrections, war or other emergency, fuel shortages, accidents, casualties, Acts of God, acts caused directly or indirectly
by Tenant (or Tenant’s agents, employees, guests or invitees), acts of other tenants or occupants of the Building, or any
other cause beyond the reasonable control of Landlord. In such event, the time for performance by Landlord shall be extended by
an amount of time equal to the period of the delay so caused. In any such event Tenant’s obligation to pay Basic Rent and
Additional Rent and otherwise perform hereunder shall in no way be affected, impaired or excused.

 

    	Page 22

     

    

 

37.4.
Broker. Each of Landlord and Tenant represents to the other that it has not dealt with any real estate broker in connection
with this Lease, other than as specified in Item I of the Basic Lease Provisions, and each hereby indemnifies and agrees to hold
the other harmless of and from any and all claims, liabilities, costs or damages, including reasonable legal fees and costs, which
the other may sustain or incur as a result of a breach of this representation.

 

37.5.
Separability. If any term or provision of this Lease or the application thereof to any person or circumstance shall, to
any extent, be invalid or unenforceable, the remainder of this Lease, or the application of such term or provision to persons
or circumstances other than those to which it is held invalid or unenforceable, shall not be affected thereby and all other terms
and provisions of this Lease shall be valid and enforced to the fullest extent permitted by law.

 

37.6.
Interpretation.

 

37.6.1.1.Whenever
in this Lease any words of obligation or duty are used, such words shall have the same force and effect as though made in the
form of covenants.

 

37.6.1.2.Words
of any gender used in this Lease shall be held to include any other gender, and words in the singular number shall be held to
include the plural, and vice versa, when the sense requires.

 

37.6.1.3.All
pronouns and any variations thereof shall be deemed to refer to the neuter, masculine, feminine, singular or plural as the identity
of Tenant requires.

 

37.6.1.4.This
Lease shall be deemed to have been drafted by both Landlord and Tenant, each of whom has been represented by counsel or has had
the opportunity to be so represented, and shall not be construed “against” either party as the draftsman thereof.
Each provision hereof shall be deemed both a covenant and a condition and shall run with the land.

 

37.6.1.5.Tenant
agrees that all of Tenant’s covenants and agreements herein contained providing for the payment of money and Tenant’s
covenants to remove mechanics’ liens shall be deemed conditions as well as covenants, and that if default be made in any
such covenants, Landlord shall have all of the rights provided for herein.

 

37.6.1.6.The
parties mutually agree that the headings and captions contained in this Lease are inserted for convenience of reference only,
and are not to be deemed part of or to be used in construing this Lease.

 

37.6.1.7.The
covenants and agreements herein contained shall bind and inure to the benefit of Landlord and Tenant, and their respective successors
and assigns, except as otherwise expressly provided herein.

 

37.6.1.8.This
Lease shall be construed in accordance with the laws of the State of New Jersey.

 

37.7.
No Recordation.

 

37.7.1.
Tenant shall not record this Lease or a memorandum hereof.

 

37.8.
No Partnership. Nothing contained in this Lease shall be deemed or construed to create a partnership or joint venture of
or between Landlord and Tenant, or to create any other relationship between the parties hereto other than that of landlord and
tenant.

 

37.9.
Authority. Landlord and Tenant hereby covenant each for itself that each has full right, power and authority to enter into
this Lease upon the terms and conditions set forth herein. If Tenant signs as a corporation, each of the persons executing this
Lease on behalf of Tenant does hereby covenant and warrant that Tenant is a duly authorized and existing corporation, qualified
to do business in the jurisdiction in which the Building is located, that the corporation has full right and authority to enter
this Lease, and that each of the persons signing on behalf of the corporation was authorized to do so.

 

37.10.
Examination of Lease. Submission of this Lease to Tenant shall not constitute reservation of or option to lease, and the
same shall not be effective as a lease or otherwise or bind Landlord in any way whatsoever unless and until the same has been
fully executed and delivered by both Landlord and Tenant.

 

37,11.
First Right of Offer. Tenant shall have the right of First Offer on contiguous space in on the sixth floor with the exception
of Suite 660.

 

    	Page 23

     

    

 

IN
WITNESS WHEREOF, Landlord and Tenant have executed this Lease under seal on the day and year first herein above written.

 

	 	LANDLORD:    H&M
    GROUP INC.
	 	 	 
	 	By:	                         
	 	 	 
	 	TENANT:    JERRICK
    MEDIA
	 	 	 
	 	By:	 

 

    	Page 24

     

    

 

ADDENDUM
TO LEASE AGREEMENT

SUITE 640 JERRICK MEDIA

REVISED
BASIC RENT SCHEDULE

 

Jerrick
Media (Tenant) shall pay the balance of the additional construction costs as follows.

 

The
total additional cost of construction changes amount to $25,446.00

 

Tenant
will pay $8,225.00 (eight thousand two hundred twenty-five), by May 15, 2018. The next payment in the amount of $8,225.00 (eight
thousand two hundred twenty-five), shall be paid prior to the move in day.

 

The
remaining $9,000.00 (nine thousand), shalt be distributed throughout the first five years of the lease agreement as additional
rent. The new rent schedule is represented below as the addendum to the basic rent schedule of line item “D” reflecting
the new monthly rent amounts. Tenant shall also pay the balance of $150.00 (one hundred fifty), which is the increased amount
of the first months rent paid in advance.

 

	Lease
    Year	 	Annual
    Amount	 	 	Monthly
    Amount	 
	1	 	$	69,144.00	 	 	$	5,762.00	 
	2	 	$	73,018.32	 	 	$	6,084.86	 
	3	 	$	77,008.86	 	 	$	6,417.40	 
	4	 	$	81,119.13	 	 	$	6,759.92	 
	5	 	$	87,859.28	 	 	$	7,321.60	 
	Electricity Charge	 	$	4,600.00	 	 	$	383.33	 

 

Date:
May 15, 2018 

 

	 	 	 	 	 
	BY:	 	 	BY:	 
	 	LANDLORD: H&M GROUP INC.	 		TENANT: JERRICK MEDIAEXHIBIT
10.1 

 

Digital
Ally, Inc.

2018
Stock Option and Restricted Stock Plan

 

1.
Purposes.

 

(a)
Background. This 2018 Stock Option and Restricted Stock Plan was adopted on April 12, 2018 by the Board of Directors,
subject to the approval of the Company’s stockholders. Options granted under the Plan prior to the stockholders’ approval
will be effective upon approval of the stockholders as of their respective dates of grant.

 

(b)
Eligible Award Recipients. The persons eligible to receive Awards are the Employees and Directors of the Company and
its Affiliates.

 

(c)
Available Awards. The purpose of the Plan is to provide a means by which eligible recipients may be given an opportunity
to benefit from increases in value of the Common Stock through the granting of the following: (i) Incentive Stock Options, (ii)
Nonqualified Stock Options, (iii) rights to acquire restricted stock, and (iv) stock appreciation rights.

 

(d)
General Purpose. The Company, by means of the Plan, seeks to retain the services of the group of persons eligible to
receive Awards, to secure and retain the services of new members of this group and to provide incentives for such persons to exert
maximum efforts for the success of the Company and its Affiliates.

 

2.
Definitions.

 

(a)
“Affiliate” means any entity that controls, is controlled by, or is under common control with the Company.

 

(b)
“Award” means any right granted under the Plan, including an Option, a right to acquire restricted Common
Stock, and a stock appreciation right.

 

(c)
“Award Agreement” means a written agreement between the Company and a holder of an Award (other than an
Option) evidencing the terms and conditions of an individual Award grant.

 

(d)
“Board” means the board of directors of the Company.

 

(e)
“Code” means the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder.

 

(f)
“Committee” means a pre-existing or newly formed committee of members of the Board appointed by the Board
in accordance with subsection 3(c).

 

(g)
“Common Stock” means the shares of the Company’s common stock par value $0.001 and other rights with
respect to such shares.

 

(h)
“Company” means Digital Ally, Inc., a Nevada corporation.

 

(i)
“Continuous Service” means that the Participant’s service with the Company or an Affiliate, whether
as an Employee or Director is not interrupted or terminated. Unless otherwise provided in an Award Agreement or Option Agreement,
as applicable, the Participant’s Continuous Service shall not be deemed to have terminated merely because of a change in
the capacity in which the Participant renders service to the Company or an Affiliate as an Employee or Director or a change in
the entity for which the Participant renders such service, provided that there is no interruption or termination of the Participant’s
service to the Company or an Affiliate as an Employee or Director. The Board, in its sole discretion, may determine whether Continuous
Service shall be considered interrupted in the case of any leave of absence, including sick leave, military leave or any other
personal leave.

 

    	 

    	 	 	 

    

 

(j)
“Covered Employee” means the Company’s chief executive officer and the four (4) other highest compensated
officers of the Company for whom total compensation is required to be reported to stockholders under the Exchange Act, as determined
for purposes of Section 162(m) of the Code.

 

(k)
“Director” means a member of the Board of the Company.

 

(l)
“Disability” means the Participant’s inability, due to illness, accident, injury, physical or mental
incapacity or other disability, to carry out effectively the duties and obligations to the Company and its Affiliates performed
by such person immediately prior to such disability for a period of at least six (6) months, as determined in the good faith judgment
of the Board.

 

(m)
“Dollars” or “$” means United States dollars.

 

(n)
“Employee” means any person employed by the Company or an Affiliate. Service as a Director or payment of
a director’s fee by the Company or an Affiliate alone shall not be sufficient to constitute “employment” by
the Company or an Affiliate.

 

(o)
“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

(p)
“Fair Market Value” means, as of any date, the value of the Common Stock determined as follows:

 

(i)
If the Common Stock is listed on any established stock exchange, or traded on the Nasdaq Global Market, the Nasdaq Capital
Market or the Nasdaq OTC Bulletin Board, the Fair Market Value of the Common Stock shall be the closing sales price for such stock
(or the closing bid, if no sales were reported) as quoted on such exchange or market (or the exchange or market with the greatest
volume of trading in Common Stock if such stock is traded on more than one such exchange or market) on the last market trading
day prior to the day of determination, as reported by such exchange or market or such other source as the Board reasonably deems
reliable.

 

(ii)
In the absence of such markets for the Common Stock, the Fair Market Value shall be determined in good faith by the Board.

 

(q)
“Incentive Stock Option” means an option designated as an incentive stock option in an Option Agreement
and that is granted in accordance with the requirements of, and that conforms to the applicable provisions of, Section 422 of
the Code.

 

(r)
“Independent Director” means (i) a Director who satisfies the definition of Independent Director or similar
definition under the applicable stock exchange or Nasdaq rules and regulations upon which the Common Stock is traded from time
to time and (ii) a Director who either (A) is not a current employee of the Company or an “affiliated corporation”
(within the meaning of Treasury Regulations promulgated under Section 162(m) of the Code), is not a former employee of the Company
or an “affiliated corporation” receiving compensation for prior services (other than benefits under a tax qualified
pension plan), was not an officer of the Company or an “affiliated corporation” at any time and is not currently receiving
direct or indirect remuneration from the Company or an “affiliated corporation” for services in any capacity other
than as a Director or (B) is otherwise considered an “outside director” for purposes of Section 162(m) of the Code.

 

(s)
“Nonqualified Stock Option” means an option that is not designated in an Option Agreement as an Incentive
Stock Option or was not granted in accordance with the requirements of, and does not conform to the applicable provisions of,
Section 422 of the Code.

 

(t)
“Officer” means a person who is an officer of the Company within the meaning of Section 16 of the Exchange
Act and the rules and regulations promulgated thereunder.

 

(u)
“Option” means an Incentive Stock Option or a Nonqualified Stock Option granted pursuant to the Plan.

 

(v)
“Option Agreement” means a written agreement between the Company and an Optionholder evidencing the terms
and conditions of an individual Option grant.

 

    	 

    	 	 	 

    

 

(w)
“Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such
other person who holds an outstanding Option.

 

(x)
“Participant” means a person to whom an Award is granted pursuant to the Plan or, if applicable, such other
person who holds an outstanding Award.

 

(y)
“Plan” means this Digital Ally, Inc. 2015 Stock Option and Restricted Stock Plan.

 

(z)
“Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in
effect from time to time.

 

(aa)
“Securities Act” means the Securities Act of 1933, as amended.

 

(bb)
“Ten Percent Stockholder” means a person who owns (or is deemed to own pursuant to Section 424(d) of the
Code) stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or
any parent corporation or any subsidiary corporation, both as defined in Section 424 of the Code.

 

3.
Administration.

 

(a)
Administration by Board. The Board shall administer the Plan unless and until the Board delegates administration to
a Committee, as provided in subsection 3(c). The Board may, at any time and for any reason in its sole discretion, rescind some
or all of such delegation.

 

(b)
Powers of Board. The Board shall have the power, subject to, and within the limitations of, the express provisions
of the Plan:

 

(i)
To determine from time to time which of the persons eligible under the Plan shall be granted Awards; when and how each Award
shall be granted; what type or combination of types of Award shall be granted; the provisions of each Award granted (which need
not be identical), including the time or times when a person shall be permitted to receive Common Stock pursuant to an Award;
and the number of shares of Common Stock with respect to which an Award shall be granted to each such person.

 

(ii)
To construe and interpret the Plan, Awards granted under it, Option Agreements and Award Agreements, and to establish, amend
and revoke rules and regulations for their administration. The Board, in the exercise of this power, may correct any defect, omission
or inconsistency in the Plan or in any Option Agreement or Award Agreement, in a manner and to the extent it shall deem necessary
or expedient to make the Plan fully effective.

 

(iii)
To amend the Plan, an Award, an Award Agreement or an Option Agreement as provided in Section 12, provided that, the
Board shall not amend the Fair Market Value of an Award or extend the term of an Option or Award without obtaining the approval
of the stockholders if required by the rules of any stock exchange upon which the Common Stock is listed.

 

(iv)
To reprice any Options granted under the Plan by lowering the exercise price of an Option after it is granted, canceling an
Option at a time when its exercise price exceeds the Fair Market Value of the stock underlying the Option, in exchange for another
Option or Award, as well as any other action that is treated as a repricing under generally accepted accounting principles.

 

(v)
Generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best
interests of the Company which are not in conflict with the provisions of the Plan.

 

    	 

    	 	 	 

    

 

(c)
Delegation to Committee. 

 

(i)
General. The Board may delegate administration of the Plan and its powers and duties thereunder to a Committee or Committees,
and the term “Committee” shall apply to any person or persons to whom such authority has been delegated. Upon such
delegation, the Committee shall have the powers theretofore possessed by the Board, including the power to delegate to a subcommittee
any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board shall thereafter
be deemed to include the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions
of the Plan, as may be adopted from time to time by the Board. In its absolute discretion, the Board may at any time and from
time to time exercise any and all rights and duties of the Committee under this Plan, except respecting matters under Rule 16b-3
of the Exchange Act or Section 162(m) of the Code, or any rules or regulations issued thereunder, which are required to be determined
in the sole discretion of the Committee.

 

(ii)
Committee Composition. A Committee shall consist solely of two (2) or more Independent Directors. Within the scope
of its authority, the Board or the Committee may (1) delegate to a committee of one or more members of the Board who are not Independent
Directors the authority to grant Awards to eligible persons who are either (a) not then Covered Employees and are not expected
to be Covered Employees at the time of recognition of income resulting from such Award or (b) not persons with respect to whom
the Company wishes to comply with Section 162(m) of the Code, and/or (2) delegate to a committee of one or more members of the
Board who are not Independent Directors or to the Company’s Chief Executive Officer the authority to grant Awards to eligible
persons who are not then subject to Section 16 of the Exchange Act.

 

(d)
Effect of Board’s Decision; No Liability. All determinations, interpretations and constructions made by the Board
in good faith shall not be subject to review by any person and shall be final, binding and conclusive on all persons. No member
of the Board or the Committee or any person to whom duties hereunder have been delegated shall be liable for any action, interpretation
or determination made in good faith, and such persons shall be entitled to full indemnification and reimbursement consistent with
applicable law and in the manner provided in the Company’s Articles of Incorporation and Bylaws, as the same may be amended
from time to time, or as otherwise provided in any agreement between any such member and the Company.

 

4.
Stock Subject to the Plan. 

 

(a)
Stock Reserve. Subject to the provisions of Section 11 relating to adjustments upon changes in Common Stock, the shares
of Common Stock that may be issued pursuant to Awards shall not exceed in the aggregate one million (1,000,000) shares of Common
Stock.

 

(b)
Reversion of Stock to the Stock Reserve. If any Award shall for any reason expire or otherwise terminate, in whole
or in part, without having been exercised in full, the shares of Common Stock not acquired under such Award shall revert to and
again become available for issuance under the Plan.

 

(c)
Source of Stock. The Common Stock subject to the Plan may be unissued stock or reacquired stock, bought on the market
or otherwise.

 

5.
Eligibility. 

 

(a)
Eligibility for Specific Awards. Incentive Stock Options may be granted only to Employees. Awards other than Incentive
Stock Options may be granted to Employees and Directors.

 

(b)
Ten Percent Stockholders. A Ten Percent Stockholder shall not be granted an Incentive Stock Option unless the exercise
price of such Option is at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock at the date of grant
and the Option is not exercisable after the expiration of five (5) years from the date of grant.

 

6.
Option Provisions. 

 

Each
Option Agreement shall be subject to the terms and conditions of this Plan. Each Option and Option Agreement shall be in such
form and shall contain such terms and conditions as the Board shall deem appropriate. All Options shall be separately designated
Incentive Stock Options or Nonqualified Stock Options at the time of grant, and, if certificates are issued, a separate certificate
or certificates will be issued for the shares of Common Stock purchased on exercise of each type of Option. The provisions of
separate Options need not be identical.

 

    	 

    	 	 	 

    

 

(a)
Provisions Applicable to All Options. 

 

(i)
Consideration. The purchase price of the shares of Common Stock acquired pursuant to an Option shall be paid as follows:
(a) in cash or by certified or official bank check, payable to the order of the Company, in the amount (the “Purchase Price”)
equal to the exercise price of the Option multiplied by the number of shares plus payment of all taxes applicable upon such exercise;
(b) with shares owned by the Optionholder having a Fair Market Value at the time the Option is exercised equal to the Purchase
Price plus payment in cash of all taxes applicable upon such exercise, with the prior approval of the Board; (c) by surrendering
to the Company the right to acquire a number of shares having an aggregate value such that the amount by which the Fair Market
Value of such shares exceeds the aggregate exercise price is equal to the Purchase Price plus payment in cash of all taxes applicable
upon such exercise, with the prior approval of the Board; (d) any combination of the foregoing; or (e) a manner acceptable to
the Board.

 

(ii)
Vesting Generally. An Option may (A) vest, and therefore become exercisable, in periodic installments that may, but
need not, be equal, or (B) be fully vested at the time of grant. The Option may be subject to such other terms and conditions
on the time or times when it may be exercised (which may be based on performance or other criteria) as the Board may deem appropriate.
The vesting provisions, if any, of individual Options may vary. The provisions of this subsection 6(a)(ii) are subject to any
Option Agreement provisions governing the minimum number of Common Stock as to which an Option may be exercised.

 

(iii)
Termination of Continuous Service. Unless otherwise provided in the Option Agreement, in the event an Optionholder’s
Continuous Service terminates (other than upon the Optionholder’s death, Disability, retirement or as a result of a Change
of Control), all Options held by the Optionholder shall immediately terminate; provided, however, that an Option
Agreement may provide that if an Optionholder’s Continuous Service is terminated for reasons other than for cause, all vested
Options held by such person shall continue to be exercisable until the earlier of the expiration date of such Option or ninety
(90) days after the date of such termination. All such vested Options not exercised within the period described in the preceding
sentence shall terminate.

 

(iv)
Disability or Death of Optionholder. Unless otherwise provided in the Option Agreement, in the event of an Optionholder’s
Disability or death, all unvested Options shall immediately terminate, and all vested Options held by such person shall continue
to be exercisable for twelve months after the date of such Disability or death. All such vested Options not exercised within such
twelve-month period shall terminate.

 

(v)
Retirement. Unless otherwise provided in the Option Agreement, in the event of the Optionholder’s retirement,
all unvested Options shall automatically vest on the date of such retirement and all Options shall be exercisable for the earlier
of twelve (12) months after such retirement date or the expiration date of such Options. All such Options not exercised within
the period described in the preceding sentence shall terminate.

 

(b)
Provisions Applicable to Incentive Stock Options.

 

(i)
Term. Subject to the provisions of subsection 5(b) regarding Ten Percent Stockholders, no Incentive Stock Option shall
be exercisable after the expiration of ten (10) years from the date it was granted. Further, no grant of an Incentive Stock Option
shall be made under this Plan more than ten (10) years after the date the Plan is approved by the stockholders of the Company.

 

(ii)
Exercise Price of an Incentive Stock Option. Subject to the provisions of subsection 5(b) regarding Ten Percent Stockholders,
the exercise price of each Incentive Stock Option shall be not less than one hundred percent (100%) of the Fair Market Value of
the Common Stock subject to the Option on the date the Option is granted.

 

(iii)
Transferability of an Incentive Stock Option. An Incentive Stock Option shall not be transferable except by will or
by the laws of descent and distribution and shall be exercisable during the lifetime of the Optionholder only by the Optionholder.

 

(iv)
Incentive Stock Option $100,000 Limitation. Notwithstanding any other provision of the Plan or an Option Agreement,
the aggregate Fair Market Value of the Common Stock with respect to which Incentive Stock Options are exercisable for the first
time by an Optionholder in any calendar year, under the Plan or any other option plan of the Company or its Affiliates, shall
not exceed One Hundred Thousand Dollars ($100,000). For this purpose, the Fair Market Value of the Common Stock shall be determined
as of the time an Option is granted. The Options or portions thereof which exceed such limit (according to the order in which
they were granted) shall be treated as Nonqualified Stock Options.

 

    	 

    	 	 	 

    

 

(c)
Provisions Applicable to Nonqualified Stock Options.

 

(i)
Exercise Price of a Nonqualified Stock Option. The exercise price of each Nonqualified Stock Option shall be not less
than one hundred percent (100%) of the Fair Market Value of the Common Stock subject to the Option on the date the Option is granted.

 

(ii)
Transferability of a Nonqualified Stock Option. A Nonqualified Stock Option shall be transferable, if at all, to the
extent provided in the Option Agreement. If the Option Agreement does not provide for transferability, then the Nonqualified Stock
Option shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the
lifetime of the Optionholder only by the Optionholder.

 

7.
Provisions of Awards Other than Options. 

 

(a)
Restricted Stock Awards. Each restricted stock Award agreement shall be in such form and shall contain such restrictions,
terms and conditions, if any, as the Board shall deem appropriate and shall be subject to the terms and conditions of this Plan.
The terms and conditions of restricted stock Award Agreements may change from time to time, and the terms and conditions of separate
restricted stock Award Agreements need not be identical, but each restricted stock Award Agreement shall include (through incorporation
of provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions:

 

(i)
Consideration. A restricted stock Award may be awarded in consideration for past services actually rendered, or for
future services to be rendered, to the Company or an Affiliate for its benefit.

 

(ii)
Vesting. Common Stock awarded under the restricted stock Award Agreement may (A) be subject to a vesting schedule to
be determined by the Board or (B) be fully vested at the time of grant.

 

(iii)
Termination of Participant’s Continuous Service. Unless otherwise provided in the restricted stock Award Agreement,
in the event a Participant’s Continuous Service terminates prior to a vesting date set forth in the restricted stock Award
Agreement, any unvested restricted stock Award shall be forfeited and automatically transferred to and reacquired by the Company
at no cost to the Company, and neither the Participant nor his or her heirs, executors, administrators or successors shall have
any right or interest in the restricted stock Award. Notwithstanding the foregoing, unless otherwise provided in the restricted
stock Award agreement, in the event a Participant’s Continuous Service terminates as a result of (A) being terminated by
the Company for reasons other than for cause, (B) death, (C) Disability, (D) retirement, or (E) a Change of Control (subject to
the provisions of Section 11(c) hereof), then any unvested restricted stock Award shall vest immediately upon such date.

 

(iv)
Transferability. Rights to acquire Common Stock under the restricted stock Award Agreement shall be transferable by
the Participant only upon such terms and conditions as are set forth in the restricted stock Award Agreement, as the Board shall
determine in its discretion, so long as Common Stock awarded under the restricted stock Award Agreement remain subject to the
terms of the restricted stock Award Agreement.

 

(b)
Grant of Stock Appreciation Rights. Stock appreciation rights to receive in shares of Common Stock the excess of the
Fair Market Value of Common Stock on the date the rights are surrendered over the Fair Market Value of Common Stock on the date
of grant may be granted to any Employee or Director selected by the Board. A stock appreciation right may be granted (i) in connection
and simultaneously with the grant of another Award, (ii) with respect to a previously granted Award, or (iii) independent of another
Award. A stock appreciation right shall be subject to such terms and conditions not inconsistent with this Plan as the Board shall
impose and shall be evidenced by a written stock appreciation right agreement, which shall be executed by the Participant and
an authorized officer of the Company. The Board, in its discretion, may determine whether a stock appreciation right is to qualify
as performance-based compensation as described in Section 162(m)(4)(C) of the Code and stock appreciation right agreements evidencing
stock appreciation rights intended to so qualify shall contain such terms and conditions as may be necessary to meet the applicable
provisions of Section 162(m) of the Code. The Board may, in its discretion and on such terms as it deems appropriate, require
as a condition of the grant of a stock appreciation right that the Participant surrender for cancellation some or all of the Awards
previously granted to such person under this Plan or otherwise. A stock appreciation right, the grant of which is conditioned
upon such surrender, may have an exercise price lower (or higher) than the exercise price of the surrendered Award, may contain
such other terms as the Board deems appropriate, and shall be exercisable in accordance with its terms, without regard to the
number of shares, price, exercise period or any other term or condition of such surrendered Award.

 

    	 

    	 	 	 

    

 

8.
Availability of Stock.

 

Subject
to the restrictions set forth in Section 4(a), during the terms of the Awards, the Company shall keep available at all times the
number of shares of Common Stock required to satisfy such Awards.

 

9.
Use of Proceeds from Stock. 

 

Proceeds
from the sale of Common Stock pursuant to Awards shall constitute general funds of the Company.

 

10.
Miscellaneous. 

 

(a)
Exercise of Awards. Awards shall be exercisable at such times, or upon the occurrence of such event or events as the
Board shall determine at or subsequent to grant. Awards may be exercised in whole or in part. Common Stock purchased upon the
exercise of an Award shall be paid for in full at the time of such purchase.

 

(b)
Acceleration of Exercisability and Vesting. The Board shall have the power to accelerate the time at which an Award
may first be exercised or the time during which an Award or any part thereof will vest in accordance with the Plan, notwithstanding
the provisions in the Award stating the time at which it may first be exercised or the time during which it will vest.

 

(c)
Stockholder Rights. 

 

(i)
Options. Unless otherwise provided in and upon the terms and conditions in the Option Agreement, no Participant shall
be deemed to be the holder of, or to have any of the rights of a holder with respect to, any Common Stock subject to an Option
unless and until such Participant has satisfied all requirements for exercise of, and has exercised, the Option pursuant to its
terms.

 

(ii)
Restricted Stock. Unless otherwise provided in and upon the terms and conditions in the restricted stock Award Agreement,
a Participant shall have the right to receive all dividends and other distributions paid or made respecting such restricted stock,
provided, however, no unvested restricted stock shall have any voting rights of a stockholder respecting such unvested restricted
stock unless and until such unvested restricted stock become vested.

 

(d)
No Employment or other Service Rights. Nothing in the Plan or any instrument executed or Award granted pursuant thereto
shall confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the
time the Award was granted, or any other capacity, or shall affect the right of the Company or an Affiliate to terminate with
or without notice and with or without cause (i) the employment of an Employee or an Affiliate or (ii) the service of a Director
of the Company or an Affiliate.

 

(e)
Withholding Obligations. If the Company has or will have a legal obligation to withhold the taxes related to the grant,
vesting or exercise of the Award, such Award may not be granted, vested or exercised in whole or in part, unless such tax obligation
is first satisfied in a manner satisfactory to the Company. To the extent provided by the terms of an Award Agreement or Option
Agreement, the Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition
of Common Stock under an Award by any of the following means (in addition to the Company’s right to withhold from any compensation
paid to the Participant by the Company) or by a combination of such means: (i) tendering a cash payment in Dollars; (ii) authorizing
the Company to withhold Common Stock from the Common Stock otherwise issuable to the Participant as a result of the exercise or
acquisition of Common Stock under the Award, provided, however, that no shares of Common Stock are withheld with a value exceeding
the minimum amount of tax required to be withheld by law; or (iii) delivering to the Company owned and unencumbered Common Stock.

 

    	 

    	 	 	 

    

 

(f)
Listing and Qualification of Stock. This Plan and the grant and exercise of Awards hereunder, and the obligation of
the Company to sell and deliver Common Stock under such Awards, shall be subject to all applicable United States federal and state
laws, rules and regulations, and any other laws applicable to the Company, and to such approvals by any government or regulatory
agency as may be required. The Company, in its discretion, may postpone the issuance or delivery of Common Stock upon any exercise
of an Award until completion of any stock exchange listing, or the receipt of any required approval from any stock exchange or
other qualification of such Common Stock under any United States federal or state law rule or regulation as the Company may consider
appropriate, and may require any individual to whom an Award is granted, such individual’s beneficiary or legal representative,
as applicable, to make such representations and furnish such information as the Board may consider necessary, desirable or advisable
in connection with the issuance or delivery of the Common Stock in compliance with applicable laws, rules and regulations.

 

(g)
Non-Uniform Determinations. The Board’s determinations under this Plan (including, without limitation, determinations
of the persons to receive Awards, the form, term, provisions, amount and timing of the grant of such Awards and of the agreements
evidencing the same) need not be uniform and may be made by it selectively among persons who receive, or are eligible to receive,
Awards under this Plan, whether or not such persons are similarly situated.

 

11.
Adjustments Upon Changes in Stock. 

 

(a)
Capitalization Adjustments. If any change is made in the Common Stock subject to the Plan, or subject to any Award,
without the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation,
stock dividend, dividend in property other than cash, stock split, liquidating dividend, combination of stock, exchange of stock,
change in corporate structure or other transaction), the Plan will be appropriately adjusted in the class(es) and maximum number
of securities subject to the Plan pursuant to subsection 4(a) and the maximum number of securities subject to award to any person
pursuant to subsection 5(c), and the outstanding Awards will be appropriately adjusted in the class(es) and number of securities
and price per stock of Common Stock subject to such outstanding Awards. The Board shall make such adjustments, and its determination
shall be final, binding and conclusive. (The conversion of any convertible securities of the Company shall not be treated as a
transaction “without receipt of consideration” by the Company.)

 

(b)
Dissolution or Liquidation. In the event of a dissolution or liquidation of the Company, then all outstanding Awards
shall terminate immediately prior to such event.

 

(c)
Asset Sale, Merger, Consolidation or Reverse Merger. In the event of a Change of Control (as defined below), any unvested
Awards shall vest immediately prior to the closing of the Change of Control, and the Board shall have the power and discretion
to provide for the Participant’s election alternatives regarding the terms and conditions for the exercise of, or modification
of, any outstanding Awards granted hereunder, provided, however, such alternatives shall not affect the then current exercise
provisions without such Participant’s consent. The Board may provide that Awards granted hereunder must be exercised in
connection with the closing of such transaction, and that if not so exercised such Awards will expire. Any such determinations
by the Board may be made generally with respect to all Participants, or may be made on a case-by-case basis with respect to particular
Participants. For the purpose of this Plan, a “Change of Control” shall have occurred in the event one or more persons
acting individually or as a group (i) acquires sufficient additional stock to constitute more than fifty percent (50%) of (A)
the total Fair Market Value of all Common Stock issued and outstanding or (B) the total voting power of all shares of capital
stock authorized to vote for the election of directors; (ii) acquires, in a twelve (12) month period, thirty-five percent (35%)
or more of the voting power of all shares of capital stock authorized to vote for the election of directors, or alternatively
a majority of the members of the board is replaced during any twelve (12) month period by directors whose appointment was not
endorsed by a majority of the members of the board; or (iii) acquires, during a twelve (12) month period, more than forty percent
(40%) of the total gross fair market value of all of the Company’s assets. Notwithstanding the foregoing, the provisions
of this Section 11(c) shall not apply to (i) any transaction involving any stockholder that individually or as a group owns more
than fifty percent (50%) of the outstanding Common Stock on the date this Plan is approved by the Company’s stockholders,
until such time as such stockholder first owns less than forty percent (40%) of the total outstanding Common Stock, or (ii) any
transaction undertaken for the purpose of reincorporating the Company under the laws of another jurisdiction, if such transaction
does not materially affect the beneficial ownership of the Company’s capital stock.

 

    	 

    	 	 	 

    

 

12.
Amendment of the Plan and Awards.

 

(a)
Amendment of Plan. The Board at any time, and from time to time, may amend the Plan. However, except as provided in
Section 11 relating to adjustments upon changes in Common Stock, no amendment shall be effective unless approved by the stockholders
of the Company to the extent stockholder approval is necessary to satisfy the requirements of Section 422 of the Code, Rule 16b-3
or any applicable Nasdaq or securities exchange listing requirements.

 

(b)
Stockholder Approval. The Board may, in its sole discretion, submit any other amendment to the Plan for stockholder
approval, including, but not limited to, amendments to the Plan intended to satisfy the requirements of Section 162(m) of the
Code and the regulations thereunder regarding the exclusion of performance-based compensation from the limit on corporate deductibility
of compensation paid to certain executive officers.

 

(c)
Contemplated Amendments. It is expressly contemplated that the Board may amend the Plan in any respect the Board deems
necessary or advisable to provide eligible Employees with the maximum benefits provided or to be provided under the provisions
of the Code and the regulations promulgated thereunder relating to Incentive Stock Options and/or to bring the Plan and/or Incentive
Stock Options granted under it into compliance therewith.

 

(d)
No Impairment of Rights. Rights under any Award granted before amendment of the Plan shall not be impaired by any amendment
of the Plan unless the Participant consents in writing.

 

(e)
Amendment of Awards. Subject to Section 3(b)(iii), the Board at any time, and from time to time, may amend the terms
of any one or more Awards; provided, however, that the rights under any Award shall not be impaired by any such amendment unless
the applicable Participant consents in writing.

 

13.
Termination or Suspension of the Plan. 

 

(a)
Plan Term. The Board may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall terminate
on the day before the tenth (10th) anniversary of the date the Plan is adopted by the stockholders of the Company. No Awards may
be granted under the Plan while the Plan is suspended or after it is terminated.

 

(b)
No Impairment of Rights. Suspension or termination of the Plan shall not impair rights and obligations under any Award
granted while the Plan is in effect except with the written consent of the Participant.

 

(c)
Savings Clause. This Plan is intended to comply in all aspects with applicable laws and regulations. In case any one
or more of the provisions of this Plan shall be held invalid, illegal or unenforceable in any respect under applicable law or
regulation, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired
thereby and the invalid, illegal or unenforceable provision shall be deemed null and void; however, to the extent permissible
by law, any provision which could be deemed null and void shall first be construed, interpreted or revised retroactively to permit
this Plan to be construed in compliance with all applicable laws so as to foster the intent of this Plan.

 

14.
Effective Date of Plan. 

 

The
Plan shall become effective as determined by the Board, but no Award shall be exercised (or, in the case of a restricted stock
Award, shall be granted) unless and until the Plan has been approved by the stockholders of the Company, which approval shall
be within twelve (12) months before or after the date the Plan is adopted by the Board.

 

15.
Choice of Law. 

 

The
law of the state of Nevada shall govern all questions concerning the construction, validity and interpretation of this Plan, without
regard to such state’s conflict of laws rules.

 

(The
Plan was adopted by the Board of Directors on April 12, 2018).

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