Document:

Exhibit 10.17

 

THIS INDENTURE made this 26th
day of May, 2015.

 

IN PURSUANCE OF THE SHORT FORMS OF LEASES
ACT

 

BETWEEN:

 

PENWEST REVENUE CORP.

 

herein called the “Landlord”

 

OF THE FIRST PART;

 

- and -

 

TRILLIUM THERAPEUTICS INC.

 

herein called the “Tenant”

 

OF THE SECOND PART;

 

W I T N E S S E T H T H A T:

 

Article I

DEFINITIONS

 

1.01                      Definitions

 

In this lease:

 

		i.	“Additional Rent” means all and any monies required to be paid by the Tenant to the
Landlord under or pursuant to the terms of this Lease, save only for Minimum Rent.

 

		ii.	“Architect” shall mean the architect from time to time named by the Landlord or at
the option of the Landlord, the Landlord’s engineer or surveyor or certified BOMA contractor. Any certificate provided by
the Architect and called for by the terms of this Lease shall be final and binding on the parties hereto save in the case of demonstrable
error.

 

		iii.	“Building” means the lands and premises described in Schedule “A” attached
hereto as such lands and premises may be altered, expanded, reduced from time to time and the building(s), improvements, equipment
and facilities erected thereon or situate from time to time therein, the municipal address of which is 2480-2482-2484-2486- 2488
Dunwin Drive, Mississauga, Ontario.

 

		iv.	“Common Areas” means those areas, facilities, utilities, improvements, equipment and
installations in the Building which from time to time are not designated or intended by the Landlord to be leased to tenants of
the Building and those areas, facilities, utilities, improvements, equipment and installations which serve or are for the benefit
of the Building and which are designated from time to time by the Landlord as part of the Common Areas. Without limiting the generality
of the foregoing, Common Areas includes all parking areas and parking garages, if any, all entrances and exits thereto and all
structural elements thereof, employee parking areas, access roads, driveways, truckways, delivery passages, the roof, exterior
weather walls, exterior and interior structural elements and bearing walls in the improvements comprising the Building, loading
and related areas, pedestrian sidewalks, landscaped areas, service areas, corridors, equipment, storage facilities, stairways,
ramps, electrical, telephone, meter, valve, mechanical, storage and service rooms, general signs, columns, pipes, electrical, plumbing,
drainage, mechanical, heating, ventilating and air conditioning systems and equipment and all other installations, equipment and
services located therein or related thereto as well as the structures housing the same.

 

     

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		v.	“Landlord” includes the Landlord and its successors and assigns and its authorized
representatives.

 

		vi.	“Lease” means this Indenture of Lease and includes any riders and schedules hereto
and shall also include any written agreements entered into which have the effect of amending this Indenture from time to time.

 

		vii.	“Lease Commencement Date” means the first date set forth in Section 2.03 of this
Lease.

 

		viii.	“Leased Premises” means the premises demised to the Tenant and shown on Schedule “B”
attached hereto and more particularly described in Section 2.01 hereof. The boundaries of the Leased Premises shall extend
from the top surface of the structural subfloor to the bottom surface of the structural ceiling. The Leased Premises includes all
water, gas, sewage, mechanical, telephone or other communication facilities for the exclusive use of the Leased Premises.

 

		ix.	“Lease Year” shall mean a period of time, the first Lease Year commencing on the Lease
Commencement Date and ending on the 31st day of December in the calendar year of the Lease Commencement Date. Thereafter Lease
Years shall consist of consecutive periods of twelve calendar months ending in each case on December 31st, save for the last
Lease Year of the Term which shall terminate upon the expiration or earlier termination of this Lease, as the case may be.

 

		x.	“Minimum Rent” means the annual minimum rent payable by the Tenant pursuant to Section 3.01
hereof.

 

		xi.	“Mortgagee” means any mortgagee or hypothecary creditor (including any trustee for
bondholders) of the Building or any part thereof.

 

     

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		xii.	“Operating Costs” means the total cost and expense incurred in owning, operating, repairing,
replacing, maintaining, managing and administering the Building and the Common Areas, excluding only the original acquisition costs
and financing and mortgage charges, but specifically including without limiting the generality of the foregoing, all Taxes, landscaping
charges, the total annual cost and expenses of insuring lands, buildings, improvements, equipment and other property in the Building
and Common Areas and from time to time owned or operated by the Landlord or for which the Landlord is legally liable in such manner
and form with such companies and such coverage and in such amounts as the Landlord or the Mortgagee from time to time determines;
cleaning, snow removal; garbage and waste collection and disposal (if any); lighting, electricity, public utilities; the cost of
electricity for any signs designated by the Landlord as part of the Building and the Common Areas; salaries, of all personnel including
supervisory personnel employed to carry out the maintenance and operation of the Building and the Common Areas, including contributions
and premiums towards fringe benefits, unemployment and Workers’ Compensation Insurance, pension plan contributions and similar
premiums and contributions; the cost of the rental of any equipment and signs and the cost of building supplies used by the Landlord
in the maintenance of the Building and the Common Areas; accounting and audit fees incurred in the preparation of the statements
required to be prepared and supplied by the Landlord under the terms of this Lease; legal fees as reasonably attributable to the
daily operations of the Building, but excluding legal fees otherwise recoverable and legal fees for lease enforcement; all repairs
and replacements to and maintenance and operation of the Building and the Common Areas and the systems, facilities and equipment
serving the Building and the Common Areas; depreciation or amortization of the costs, including repair and replacement, of all
maintenance and cleaning equipment and master utility meters and the costs incurred for repairing or replacing all other fixtures,
equipment and facilities serving or comprising the Building and the Common Areas which by their nature require periodic or substantial
repair and replacement and which are not charged fully in the Lease Year in which they are incurred over a period equal to the
useful life of a particular repair or replacement, all in accordance with generally accepted accounting principles; interest calculated
at two (2) percentage points above the average prime bank commercial lending rate charged during such Lease Year by any Canadian
chartered bank designated from time to time by the Landlord upon the undepreciated or unamortized portion of the original cost
of all maintenance and cleaning equipment and master utility meters and upon the undepreciated or unamortized portion of the cost
of such repairs and replacements referred to above.

 

Notwithstanding anything
to the contrary contained herein, Operating Costs shall not include, and the Tenant shall not be required to pay, any part of any
of the following:

 

		(i)	Landlord’s income tax, capital tax, business tax or any other tax personal to the Landlord;

 

		(ii)	costs and expenses properly chargeable to capital account, including, without limitation, the cost
of repairs or replacements to the structure of the Building, including without limitation, the foundations, exterior weather walls,
subfloor, roof, bearing walls and structural columns and beams of the Building and the cost of major repairs or replacements to
the heating, ventilating and air conditioning system and equipment serving the Building;

 

     

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		(iii)	the amount of any Sales Taxes (as such term is defined in Section 5.02xi below) paid or payable
by the Landlord on the purchase of goods and services included in Operating Costs which may be available to the Landlord as a credit
in determining the Landlord’s net tax liability or refund on account of such Sales Taxes;

 

		(iv)	all costs and expenses for which any other tenant of the Building is entirely responsible under
the provisions of its lease;

 

		(v)	all costs and expenses recoverable by guarantees and/or warranties given to the Landlord with respect
to the Building;

 

		(vi)	all costs and expenses incurred by the Landlord in leasing space in the Building;

 

		(vii)	all costs and expenses incurred as a result of the negligence of the Landlord or those for whom
it is at law responsible; and

 

		(viii)	all fines or penalties incurred by the Landlord for late payment of Taxes or other payments for
which the Landlord is responsible under this Lease.

 

		xiii.	“Proportionate Share” means a fraction, the numerator of which is the Rentable Area
of the Leased Premises (24,000 square feet) and the denominator of which is the Rentable Area of the Building (47,000 square feet),
being 51.06%.

 

		xiv.	“Rent” means all Minimum Rent and Additional Rent payable pursuant to the terms of
this Lease.

 

		xv.	“Rentable Area of the Leased Premises” means the area expressed in square feet of all
floors of the Leased Premises measured from:

 

		(i)	the exterior face of all exterior walls, doors and windows;

 

		(ii)	the exterior face of all interior walls, doors and windows separating the Leased Premises from
Common Areas, if any; and

 

		(iii)	the centre line of all interior walls separating the Leased Premises from adjoining leasable premises.

 

The Rentable Area
of the Leased Premises includes all interior space whether or not occupied by projections, structures or columns, structural or
non-structural. For the purposes of this Lease, the Rentable Area of the Leased Premises is 24,000 square feet.

 

		xvi.	“Rentable Area of the Building” means the area in square feet of all premises in the
Building set aside for leasing by the Landlord from time to time, but excluding all Common Areas. For the purposes of this Lease,
the Rentable Area of the Building is 47,000 square feet.

 

     

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		xvii.	“Rules and Regulations” means the rules and regulations adopted and promulgated
by the Landlord from time to time, in accordance with Section 10.04 below, acting reasonably and in such manner as would a
prudent landlord of a reasonably similar building and of which the Tenant receives written notice.

 

		xviii.	“Taxes” means all duties, real property taxes, levies (including, without limitation,
commercial concentration levies or any other tax or levy imposed on the Building or the Landlord based on total gross area or floor
area), assessments and payments, extraordinary as well as ordinary, whether foreseen or unforeseen, as shall during the Term hereby
demised be laid, levied, assessed or imposed upon or become liens upon the Leased Premises or the Building or any part thereof
or any appurtenances thereto or the leasehold estate hereby created or as may be levied, assessed or imposed upon the Landlord
by reason of its ownership of the Leased Premises and/or the Building, all by virtue of any present or future law, order or ordinance
of Canada or of the provincial, city, county or local government or of any department, office or bureau thereof of any other governmental
authority. Taxes shall also include any and all penalties, late payment or interest charges imposed by any municipality or other
taxing authority as a result of the Tenant’s late payments of any Taxes or instalments thereof. Taxes shall not include the
Landlord’s capital tax, income tax or any other tax personal to the Landlord. The Landlord’s calculation of Taxes shall
include Taxes that would have resulted from the Building being fully completed, fully assessed and fully occupied by tenants during
the Term and any renewals with no special exemptions or reductions and without taking into account any actual or potential reduction
of Taxes or change of assessment category or class for occupiable premises in the Building which are vacant from time to time,
it being the intent that the Landlord shall receive all credits or reductions of Taxes related to such occupiable but vacant space
in the Building.

 

		xix.	“Tenant” shall be deemed and taken to mean each and every person or party mentioned
as a Tenant herein, be the same one or more and his, its, her, or their respective heirs, administrators, successors and assigns,
as the case may be. If there is more than one Tenant, any notice required or permitted by this Lease may be given by or to any
one of them and has the same force and effect as if given by or to all of them. Any reference to Tenant includes, where the context
allows, the servants, employees, agents, invitees and licensees of the Tenant and all others over whom the Tenant may reasonably
be expected to exercise control.

 

		xx.	“Term” means the period of time referred to in Section 2.03 hereof.

 

		xxi.	“Hazardous Substances” means any contaminant, pollutant, dangerous substance, potentially
dangerous substance, noxious substance, toxic substance, hazardous waste, flammable, explosive or radioactive material, urea formaldehyde
foam insulation, asbestos, polychlorinated biphenyls and any other substance or material now or hereinafter declared, defined or
deemed to be hazardous, toxic, contaminants or pollutants in or pursuant to any applicable federal, provincial or municipal statutes,
regulations, orders and by-laws.

 

     

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Article II

GRANT AND TERM

 

2.01                      Leased
Premises

 

In consideration of the
rents, covenants and agreements hereinafter reserved and contained on the part of the Tenant to be paid, observed and performed,
the Landlord demises and leases to the Tenant and the Tenants rents from the Landlord, the Leased Premises. The Landlord and the
Tenant acknowledge and agree that the Leased Premises are shown on Schedule “B” attached hereto and that the Rentable
Area of the Leased Premises as defined herein is 24,000 square feet.

 

2.02                       Use
of Common Areas

 

The use and occupation
by the Tenant of the Leased Premises shall entitle the Tenant to the use in common with all others entitled thereto of the Common
Areas, subject however, to the terms and conditions of this Lease and to the Rules and Regulations for the use thereof as
prescribed from time to time by the Landlord.

 

2.03                      Term
of Lease

 

TO HAVE AND TO HOLD the
Leased Premises for and during the Term of ten (10) years, to be computed from the 1st day of November, 2015, and
fully to be completed and ended on the 31st day of October, 2025, save as hereinafter provided for earlier termination.

 

2.04                      Excuse
of Performance

 

Anything in this Lease
to the contrary notwithstanding, neither the Landlord nor the Tenant shall be deemed in default with respect to the performance
of any of the terms, covenants and conditions of this Lease if same shall be due to any strike, lockout, civil commotion, war-like
operation, invasion, rebellion, hostilities, military or usurped power, sabotage, governmental regulations or controls, inability
to obtain any material or service, through act of God or other cause beyond the control of the Landlord or the Tenant, as the case
may be, (providing such cause is not due to the wilful act or neglect of the Landlord or the Tenant, as the case may be). However,
the provisions of this Section do not operate to excuse the Tenant from the prompt payment of Minimum Rent, Additional Rent
or any other payments required by this Lease.

 

     

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Article III

RENT

 

3.01                      Minimum
Rent

 

The Tenant covenants
and agrees to pay unto the Landlord from and after the Lease Commencement Date a Minimum Rent for the Leased Premises (plus applicable
Sales Taxes) payable in equal consecutive monthly instalments in advance on or before the first day of each month, without any
prior demand therefor and without any deduction, abatement or set-off whatsoever, as follows:

 

		i.	From November 1, 2015 to December 31,2015
- Minimum Rent Free Period.

 

		ii.	From January 1, 2016 to October 31, 2017 - $228,000 per annum ($19,000.00 per month)
calculated at $9.50 per square foot Rentable Area of the Leased Premises.

 

		iii.	From November 1, 2017 to October 31, 2019 - $264,000
per annum ($22,000.00 per month) calculated at $11.00 per square foot Rentable Area of the Leased Premises.

 

		iv.	From November 1, 2019 to October 31, 2021 - $276,000
per annum ($23,000.00 per month) calculated at $11.50 per square foot Rentable Area of the Leased Premises.

 

		v.	From November 1, 2021 to October 31, 2023 - $288,000 per annum ($24,000.00 per month)
calculated at $12.00 per square foot Rentable Area of the Leased Premises.

 

		vi.	From November 1, 2023 to October 31,
2025 - $300,000 per annum ($25,000.00 per month), calculated at $12.50 per square foot
Rentable Area of the Leased Premises.

 

The Landlord acknowledges
receipt (by the agent Avison Young Commercial Real Estate (Ontario) Inc.) of One Hundred and
Seventy Six Thousand, Two Hundred and Eighty Dollars ($176,280.00) to be applied towards payment
of the first month’s Minimum Rent, Additional Rent and Sales ‘faxes calculated thereon coming due under the terms of
this Lease, the 60th month’s Minimum Rent, Additional Rent and Sales Taxes calculated thereon coming due under
the terms of this Lease, and the remaining portion to be applied to a security deposit to be held by the Landlord without interest
payable to the Tenant, pending discharge of all of the Tenant’s obligations due under the Lease, and any remaining portion
applied against the last two (2) months’ Minimum Rent, Additional Rent and Sales Taxes calculated thereon coming due
under the terms of this Lease.

 

3.02                      Additional
Rent

 

		i.	The parties hereto agree that any money required to be paid as Additional Rent shall be deemed
to be and be collectible as Rent and the Landlord shall have the same remedies in respect of
arrears of Additional Rent as it
has in respect of arrears of Minimum Rent. If such amounts or charges are not paid at
the time provided in this Lease, they shall nevertheless, if
not paid when due, be collectible as Additional Rent with the next instalment of Minimum Rent
thereafter falling due hereunder, but nothing herein contained shall be deemed to suspend or delay the payment of any amount of
money or charge at the time the same becomes due and payable hereunder or limit any other remedy of the Landlord.

 

		ii.	The Landlord estimates that Additional Rent
(including Operating Costs, Taxes, Landlord’s insurance and utilities) for the
year 2015 shall be $8.00 per square foot.

 

     

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3.03                      Rent
and Additional Rent Past Due

 

If the Tenant fails to
pay, when the same is due and payable, any Minimum Rent, Additional Rent or other amount payable by the Tenant under this Lease,
such unpaid amounts shall bear interest from the due date thereof to the date of payment
at an annual rate which is three (3) percentage points above the Prime Rate, subject to monthly compounding. For the
purposes hereof, “Prime Rate” means the commercial lending rate of interest, expressed as an annual rate, which TD
Canada Trust from time to time in Toronto as the reference rate of interest and commonly known as its “Prime Rate”
and which serves as the basis upon which effective rates of interest are calculated for Canadian dollar loans made in Canada to
its best commercial customers with interest payable as a function of its Prime Rate.

 

Article IV

NET LEASE

 

4.01                      Intent

 

The
Tenant acknowledges and agrees that it is intended that this
Lease is a completely carefree net lease to the Landlord,
except as expressly herein set out, that the Landlord is not responsible during the
Term for any costs, charges, expenses and outlays of any nature whatsoever arising from or relating to the Leased Premises, or
the use and occupancy thereof, or the business carried on therein, and the Tenant shall pay all charges, impositions, costs and
expenses of every nature and kind relating to the Leased Premises except as expressly herein set out.

 

Article V

TAXES

 

5.01                      Taxes
Payable by Landlord

 

The Landlord shall pay
all Taxes which are levied, rated, charged or assessed against the Building or any part
thereof subject always to the provisions of this Lease
regarding payment of Taxes by the Tenant. However, the Landlord may defer payment of any such Taxes or defer compliance
with any statute, law, by-law, regulation or ordinance in connection with the levying of any such Taxes in each case to the fullest
extent permitted by law, so long as it diligently prosecutes any contest or appeal of any such taxes,
and absorbs directly any additional fine or penalty arising as a result of any such
deferral, contest or appeal.

 

5.02                      Taxes
Payable by Tenant

 

		i.	The Tenant shall and will during the Term hereby demised pay and discharge, as Additional Rent,
all Taxes levied, laid or assessed on or against the Leased Premises.

 

		ii.	In the event that a separate
tax bill is issued by any lawful taxing authority, then
the Tenant shall pay its Taxes on the basis
of such separate tax bill. If there is no such separate
tax bill, then the Tenant’s Taxes shall, at the option of the Landlord, be calculated by the Landlord on the basis of the
assessed value of the Leased Premises. In the event that there is not a separate tax bill for the Leased Premises available, and
the Landlord elects or is not able to charge on the basis of assessed value, then the Tenant shall pay in lieu thereof its Proportionate
Share of all such Taxes levied, rated, charged or assessed from time to time against the Building. In any event, in addition to
the Taxes levied or assessed against the Leased Premises, the Tenant shall also pay a Proportionate Share of all such Taxes levied,
rated, charged or assessed from time to time against the Common Areas to the extent only that such Taxes on the Common Areas have
not been included in the Taxes otherwise charged to the Tenant hereunder.

 

     

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		iii.	All Taxes shall be paid by the Tenant to the Landlord upon receipt of an invoice for the ‘faxes
from the Landlord or the taxing authority having jurisdiction.

 

		iv.	In the case of assessments for local improvements or betterments which are assessed or imposed
during the Term and which may by law be payable in instalments, the Tenant shall only be obligated to pay such instalments as same
fall due during the Term, together with interest on deferred payments, on condition that the Tenant shall take such steps as may
be prescribed by law to convert the payment of the assessment into instalment payments. Such payments of instalments and any interest
thereon shall be made before any fine, penalty, interest or cost may be added thereto for nonpayment of any instalment or interest
thereon.

 

		v.	In any suit or proceeding of any kind or nature arising or growing out of the failure of the Tenant
to keep any covenant contained in this Article, the certificate or receipt of the department, officer or bureau charged with collection
of the Taxes, showing that the tax, assessment or other charge affecting the Leased Premises is due and payable or has been paid,
shall be prima facie evidence that such tax, assessment or other charge was due and payable as a lien or charge against the Leased
Premises or that it has been paid as such by the Landlord.

 

		vi.	The Tenant shall have the right to contest or review by legal proceedings or in such manner as
the Tenant in its opinion shall deem advisable (which proceedings or other steps taken by the Tenant shall be conducted diligently
at its own expense and free of expense to the Landlord) any and all Taxes levied, assessed or imposed upon or against the Leased
Premises or taxes in lieu thereof required to be paid by the Tenant hereunder. No such contest shall defer or suspend the Tenant’s
obligations to pay the Taxes as herein provided pending the contest, but if by law it is necessary that such payment be suspended
to preserve or perfect the Tenant’s contest, then the contest shall not be undertaken without there being first deposited
with the Landlord a sum of money equal to twice the amount of the Taxes that are the subject of the contest, to be held by the
Landlord as an indemnity to pay such Taxes upon conclusion of the contest and all costs thereof that may be imposed upon the Landlord
or the Leased Premises.

 

		vii.	The Tenant upon request of the Landlord will promptly exhibit to the Landlord copies of all paid
bills for Taxes.

 

     

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		viii.	Any Tax relating to a fiscal period of the taxing authority, a part of which is within the Term
and a part of which is prior to the commencement of the Term or subsequent to the expiration or earlier termination of the Term,
shall, whether or not such Taxes shall be assessed, levied, imposed or become a lien upon the Leased Premises, or shall become
payable during the demised term, be apportioned and adjusted between the Landlord and the Tenant as of the stated date of commencement
or expiration of the Term, as the case may be.

 

		ix.	If the Tenant designates that Taxes go to support separate schools, the Tenant shall pay the difference,
if any, between the rate for separate and public schools to the Landlord, together with any other payment pursuant to this Section 5.02.

 

		x.	Notwithstanding any other provisions of this Section 5.02, the Landlord may, at its option,
estimate the amount of Taxes payable by the Tenant during a particular Lease Year and the Tenant shall, at the request of the Landlord,
pay one-twelfth of such estimate to the Landlord together with the monthly payment of Minimum Rent, with appropriate adjustments
to be made between the Landlord and the Tenant within ninety (90) days after the end of each Lease Year. The Landlord covenants
to remit Taxes collected from the Tenant to the appropriate taxing authority having jurisdiction as and when due.

 

		xi.	Despite any other provisions of this Lease, the Tenant shall pay to the Landlord an amount equal
to any and all goods and services taxes, sales taxes, value added taxes, business transfer taxes, or any other taxes imposed on
the Landlord or the Tenant with respect to the Rent payable by the Tenant to the Landlord under this Lease, or in respect of the
rental of space under this Lease, whether characterized as a goods and services tax, sales tax, value added tax, business transfer
tax, or otherwise (hereinafter individually and collectively called “Sales Taxes”). The amount of the Sales Taxes so
payable by the Tenant shall be calculated by the Landlord in accordance with the applicable legislation and shall be paid to the
Landlord at the same time as the amounts to which such Sales Taxes apply are payable to the Landlord under the terms of this Lease
or upon demand or at such other time or times as the Landlord from time to time determines. Despite any other provisions of this
Lease, the amount payable by the Tenant under this paragraph shall be deemed not to be Rent, but the Landlord shall have all of
the same remedies for and rights of recovery of such amount as it has for recovery of Rent under this Lease.

 

5.03                      Business
Taxes and Other Taxes of Tenant

 

In addition to the Taxes
payable by the Tenant pursuant to Section 5.02, the Tenant shall pay as Additional Rent to the lawful taxing authorities or
to the Landlord, as it may direct, and shall discharge in each Lease Year, when the same becomes due and payable:

 

		i.	All taxes, rates, duties, assessments and other charges that are levied, rated, charged or assessed
against or in respect of all improvements, equipment and facilities of the Tenant on or in the Leased Premises or the Building
or any part or parts thereof or the Landlord on account of its ownership thereof or interest therein; and

 

     

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		ii.	Every tax and license fee which is levied, rated, charged or assessed against or in respect of
any and every business carried on in the Leased Premises or in respect of the use or occupancy thereof or any other part of the
Building by the Tenant and every sub-tenant or licensee of the Tenant or against the Landlord on account of its ownership thereof
or interest therein, all of the foregoing being collectively referred to as “business taxes” and whether in any case
any such taxes, rates, duties, assessments or license fees are rated, charged or assessed by any federal, provincial, municipal
or other body during the Term. If there are not separate tax bills provided for business taxes, the Landlord is entitled to allocate
business taxes to the Tenant using the methods referred to in subsection 5.02ii hereof.

 

Article VI

CONSTRUCTION OF LEASED PREMISES

 

6.01                      Landlord’s
Obligation

 

Subject only to Landlord’s
obligations under Section 10.02 and 11.02, and in Schedule D, Section 7, the Landlord covenants and agrees to deliver
the Leased Premises in their “as is” condition (“as is” as of April 13, 2015) and Tenant accepts the
Leased Premises in “as is” condition (“as is” as of April 13, 2015).

 

6.02                      Tenant’s
Obligation

 

(a)            The
Tenant shall be responsible for installing its own Leasehold Improvements in the Leased Premises to a high standard befitting the
quality of the Building, including but not limited to internal partitions and fixtures, together with the cost of any modifications
to the Leased Premises required by its occupancy (“Leasehold Improvements”). The Leasehold Improvements to be installed
by the Tenant shall be subject to (1) Tenant’s obtaining Landlord approval of Tenant’s plans and specifications,
said approval not to be unreasonably withheld or delayed; (2) Tenant complying with all requirements of applicable municipal
by-laws, building codes and fire, health and other regulations and all other relevant provincial and federal legislation and regulations
thereunder. All Leasehold Improvements shall be effected by contractors selected and engaged by the Tenant. Landlord shall not
be entitled to any management, supervisory, administrative or other fees with respect to the Tenant’s Leasehold Improvements.

 

(b)            All
work performed by the Tenant and/or its contractors with respect to the Leased Premises shall:

 

		ii.	be done as expeditiously as possible, in a good and workmanlike manner and with first class new
materials;

 

		iii.	be done in compliance with applicable municipal by-laws, building codes and fire, health and other
regulation, and such reasonable rules and regulations as the Landlord may make; and

 

		iv.	be done at the cost and risk of the Tenant.

 

     

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Article VII

CONDUCT OF BUSINESS BY TENANT

 

7.01                      Use
of Premises

 

(a)            The
Tenant shall, throughout the Term, use the Leased Premises solely as laboratory facilities, production and testing facilities,
research and development, and general business and administrative offices (including a staff kitchen) in keeping with the current
standards of the Building, and in accordance with all municipal and governmental laws, bylaws and regulations. The Tenant will
not use or permit or suffer the use of the Leased Premises or any part thereof for any other business or purpose.

 

(b)            During
the Term, Tenant shall not be obliged to physically occupy the Leased Premises provided that
it complies with all the terms and conditions hereof. Tenant shall be entitled to have access to the Leased Premises 24 hours per
day, 7 days per week, 365 days per year.

 

7.02                      Conduct
and Operation of Business

 

In the conduct of the
Tenant’s business pursuant to this Lease, the Tenant shall:

 

		i.	abide by all Rules and Regulations formulated by the Landlord from time to time,
including relating to the delivery of goods and merchandise to the Leased Premises;

 

		ii.	not commit or suffer or permit to be committed any waste upon or damage to the Leased Premises
or any nuisance or other act or thing which disturbs the quiet enjoyment of any other tenant of the Building and not perform nor
carry on any practices which may damage the Building;

 

		iii.	not do nor suffer nor permit to be done any act in or about the Common Areas or the Building which
in the Landlord’s reasonable opinion hinders or interrupts the flow of traffic to, in and from the Building and not do nor
suffer nor permit anything to be done which in the Landlord’s opinion in anyway obstructs
the free movement of parties doing business in the Building;

 

		iv.	not use any travelling or flashing lights or signs or any loudspeakers,
television, phonograph, radio or other audio, visual or mechanical devices in manner so that they can be heard or seen outside
the Leased Premises without the prior written consent of the Landlord, which consent may be unreasonably withheld.

 

7.03                      Observance
of Law

 

The Tenant shall, at
its sole cost and expense and subject to the other provisions of this Lease, promptly:

 

		i.	observe and comply with all provisions of law including, without limiting the generality of the
foregoing, all requirements of all governmental authorities, including federal, provincial, and municipal legislative enactments,
by-laws and other regulations now or hereafter in force which pertain to or affect the Leased Premises, the Tenant’s use
of the Leased Premises or the conduct of any business in the Leased Premises, or the making of any repairs, replacements, alterations,
additions, changes, substitutions or improvements of or to the Leased Premises;

 

     

    	 	13	 

    

 

		ii.	observe and comply with all police, fire, environmental and sanitary regulations imposed by any
governmental authorities (whether federal, provincial or municipal) or made by fire insurance underwriters;

 

		iii.	carry out all modifications, alterations or changes of or to the Leased Premises and the Tenant’s
conduct of business in or use of the Leased Premises which are required by any such authorities.

 

Article VIII

BUILDING AND COMMON AREAS – CONTROL AND PAYMENT

 

8.01                     The
Landlord shall operate and maintain the Building in such manner as the Landlord determines from time to time, and in a first class
and reputable manner as would a prudent landlord of a similar building having regard to size, age and location.

 

The Building and the
Common Areas are at all times subject to the exclusive control and management of the Landlord. Without limiting the generality
of the foregoing, the Landlord has the right in its control, management and operation of the Building and by the establishment
of Rules and Regulations with respect to the operation of the Building or any part thereof at all times throughout the Term
to close all or any portion of the Building to such extent as may in the opinion of the Landlord’s counsel be legally sufficient
to prevent a dedication thereof or the accrual of any rights to any third party or the public; grant, modify and terminate easements
or other agreements pertaining to the use and maintenance of all or any part of the Building; obstruct or close off all or any
part of the Building for the purpose of maintenance, repair or construction; employ all personnel, including supervisory personnel
and managers necessary for the operation, maintenance and control of the Building, provided that in so doing, the Landlord shall
not materially interfere with, or impair or interrupt, the reasonable conduct of the Tenant’s business from the Leased Premises.

 

8.02                      Tenant
to Bear Proportionate Share of Operating Costs

 

In each Lease Year, the
Tenant shall pay to the Landlord, as Additional Rent its Proportionate Share of the Operating Costs incurred by the Landlord during
such Lease Year.

 

The Additional Rent provided
to be paid herein shall be paid by monthly instalments in advance on the first day of each and every month throughout the Term
in an amount to be reasonably fixed from time to time by the Landlord as an estimate of actual expenses. The Landlord shall within
ninety (90) days of the end of each Lease Year within the Term hereof or so soon thereafter as is possible submit to the Tenant
a statement setting out the Operating Costs and the Tenant’s Proportionate Share thereof, together with copies of such supporting
documentation as is reasonably necessary to enable the Tenant to verify such statement or calculations. To the extent that the
Tenant’s Proportionate Share is greater than the amount actually paid by it, the Tenant shall forthwith upon receipt of the
said statement pay such difference to the Landlord. In the event that the Tenant’s Proportionate Share is less than the amount
actually paid, such excess payment shall be refunded by the Landlord to the Tenant.

 

     

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8.03                      Examination
of Landlord’s Records

 

Provided the Tenant is
not then in default under this Lease, the Tenant shall have the right, no more often than once per year during normal business
hours and upon giving reasonable notice within 90 days of delivery of the statement of Tenant’s occupancy costs (or Additional
Rent) for any Fiscal Year, to attend at the Landlord’s office at which its records for the Building are kept, at the Tenant’s
sole expense, to examine a sample population of invoices and receipts supporting such statement using standard audit practices
(the “Examination”). If the Tenant retains the services of an audit consultant for the Examination, such audit consultant
shall be an independent chartered accountant and such audit consultant shall not be one which charges its fees on a contingency
fee basis. The Tenant shall reimburse the Landlord for all reasonable costs incurred by the Landlord with respect to the Examination,
including, without limiting the generality of the foregoing, time spent by the Landlord’s staff in connection with the Examination.
Upon completion of the Examination, the Tenant shall provide the Landlord with copies of all reports, summaries and any other materials
prepared by the person carrying out the Examination.

 

If the audit discloses
that statement of Tenant’s occupancy costs (or Additional Rent) for any Fiscal Year is overstated by three percent (3%) or
more, the Landlord will pay to the Tenant, on demand, the cost of the audit in addition to the excess overpaid by the Tenant, together
with interest on the latter calculated from the first day of such period at the Landlord’s rate of interest as set out in
the Lease.

 

The Tenant acknowledges
and agrees that any records reviewed under this provision constitute confidential information of the Landlord, which shall not
be disclosed to anyone other than the audit consultant performing the Examination and the principals of the Tenant who receive
the results of the Examination. The Tenant further acknowledges and agrees that the disclosure of such information to any other
person, whether by the Tenant or anyone acting on behalf of the Tenant, shall constitute an Event of Default under this Lease.
Accordingly, the Tenant and its audit consultant shall execute and deliver to the Landlord a confidentiality agreement prepared
by the Landlord, in favour of the Landlord, prior to the Examination.

 

Article IX

SIGNS, AWNINGS, CANOPIES, FIXTURES AND ALTERATIONS

 

9.01                      Installation
by the Tenant

 

(a)            All
fixtures installed by the Tenant shall be new or completely reconditioned. The Tenant shall not make or cause to be made any alterations,
additions or improvements or install or cause to be installed any trade fixtures, exterior signs, floor covering, interior or exterior
lighting, plumbing fixtures, shades or awnings or make any changes to the Leased Premises without first obtaining the Landlord’s
written approval and consent not to be unreasonably withheld or delayed. The Tenant shall present to the Landlord plans and specifications
in form, content and such detail as the Landlord may reasonably require for such work at the time approval is sought. The Tenant
covenants that any work that may be done in respect of the Leased Premises by or on behalf of the Tenant shall be done in such
a manner as not to conflict or interfere with any work being done or about to be done by the Landlord in or about the Building,
whether such conflict or interference shall arise in relation to labour unions or otherwise and the Tenant shall obtain all requisite
permits, licences and inspections in respect of any such work done by or on the Tenant’s behalf.

 

     

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(b)            Notwithstanding
the foregoing, the Tenant shall not require the Landlord’s consent for any alterations and installations performed in the
Leased Premises provided that such alterations and/or installations do not (i) affect the structural components of the Building;
(ii) affect base Building systems; (iii) require a building permit; (iv) affect parking availability, zoning or
the appearance of the Building; and (v) cost in excess of $50,000.00.

 

(c)            Notwithstanding
anything herein contained, the Tenant shall make no alterations, additions or improvements that would lessen the value or Rentable
Area of the Leased Premises or the Building, or would interfere with the usage of the Common Areas.

 

9.02                      Removal
and Restoration

 

(a)            All
alterations, decorations, additions and improvements made by the Tenant or made by the Landlord on the Tenant’s behalf by
agreement under this Lease shall remain the property of the Tenant for the Term hereof. Such alterations, decorations, additions
and improvements shall not be removed from the Leased Premises without prior consent in writing from the Landlord.

 

(b)            Upon
expiration of this Lease, the Tenant shall not be required to remove such alterations, decorations, additions and improvements
or restore the Leased Premises to its original condition. Upon the expiration of this Lease, and upon the Tenant’s removal
from the Leased Premises, all such alterations, decoration, additions and improvements shall at the option of the Landlord become
the property of the Landlord or be removed by the Landlord at the expense of the Landlord.

 

9.03                      The
Tenant Shall Discharge all Liens

 

The Tenant shall not
suffer or permit any construction or other liens to be filed or placed or exist against the title of the lands on which the Leased
Premises are situate nor against the Tenant’s leasehold interest in the Leased Premises by reason of work, labour, services
or materials supplied or claimed to have been supplied to the Tenant or anyone holding the Leased Premises or any part thereof
through or under the Tenant, and nothing in this Lease contained shall be deemed or construed in any way as constituting the consent
or request of the Landlord, expressed or implied, by inference or otherwise, to any contractor, subcontractor, labourer or materialman
for the performance of any labour or the furnishing of any materials for any specific improvement, alteration or repair of or to
the Leased Premises or any part thereof, nor as giving the Tenant any right, power or authority to contract for or permit the rendering
of any services or the furnishing of any materials that would give rise to the filing of any construction or other liens against
the title of the lands on which the Leased Premises are situate. If any such construction lien shall at any time be filed against
the Leased Premises, the Tenant shall cause the same to be discharged of record within ten (10) days after the later of the
date of filing the same and the date on which the Tenant receives notice in writing of same. If the Tenant shall fail to discharge
such construction lien within such period, then, in addition to any other right or remedy of the Landlord, the Landlord may, but
shall not be obligated to, procure the discharge of such construction lien by deposit in court or bonding, and in such event the
Landlord shall be entitled, if the Landlord so elects, to compel the prosecution of any action for such construction lien by the
lien claimants and to pay the amount of the judgment, if any, in favour of the lien claimant with interest, costs and allowances.
Any amount paid by the Landlord for any of the aforesaid purposes or for the satisfaction of any other lien, not caused or claimed
to be caused by the Landlord, and all reasonable legal and other expenses of the Landlord, including reasonable counsel fees, in
defending any such action or in or about procuring the discharge of such lien, with all necessary disbursements in connection therewith,
with interest thereon at the rate determined pursuant to section 3.03, from the date of payment shall be repaid by the Tenant to
the Landlord on demand, and if unpaid may be treated as Additional Rent as provided in this Lease.

 

     

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9.04                      Signs,
Awnings, Canopies and Advertising

 

		i.	The Tenant will not place or suffer to be placed or maintained on any exterior door, wall or window
of the Leased Premises any sign, awning or canopy or advertising matter or other thing of any kind, and will not place or maintain
any decoration, lettering or advertising matter on the glass of any window or door of the Leased Premises that do not comply with
municipal approvals and by-laws and without first obtaining the Landlord’s written approval and consent, such approval and
consent not to be unreasonably withheld or delayed.

 

		ii.	The Tenant shall have the right to install, at Tenant’s own cost, building signage in a size
and style befitting the quality of the Building, subject to municipal approval and city bylaws. The Tenant further agrees to maintain
such sign, awning, canopy, decoration, lettering, advertising matter or other thing as may be approved in good condition and repair
at all times.

 

Article X

MAINTENANCE AND REPAIR OF LEASED PREMISES

 

10.01                    Maintenance
and Repair by the Tenant

 

The Tenant covenants,
subject to Section 11.02, to repair the Leased Premises, reasonable wear and tear not inconsistent with the operation of the
Building and the Leased Premises and damage by fire, lightning and tempest and other perils against which the Landlord is insured
only excepted. Without limiting the generality of the foregoing, the Tenant agrees that it will at all times keep the Leased Premises
(including exterior entrances and all glass and show windows) and all partitions, doors, fixtures,
equipment and appurtenances thereof (including lighting, heating and plumbing fixtures and the electrical, mechanical, heating
and air conditioning systems serving the Leased Premises) in good order, condition and repair (including periodic painting
or redecorating and preventative maintenance as determined
by the Landlord and including such repairs or replacements as are required to keep the Leased
Premises in good repair and condition), reasonable wear and
tear not inconsistent with the operation of the
Building and the Leased Premises, damage by fire, lightning and tempest
and other perils against which the Landlord is insured only excepted. All aforesaid
repairs, restorations and replacements shall be in quality
and class equal to the original work or installations.

 

     

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10.02                    Maintenance
and Repair By The Landlord

 

Notwithstanding the provisions
of Section 10.01 hereof, the Landlord shall at all times throughout the Term, maintain and repair or cause to be maintained
and repaired at its sole cost and expense, the structure of the Building, including without limitation, the foundations, exterior
weather walls, subfloor, roof, bearing walls and structural columns and beams of the Building. If, however, the Landlord is required
to maintain or repair the structure of the Building and/or any other part of the Building by reason of any act, omission or negligence
of the Tenant, or those for whom in law it is responsible, the Tenant shall pay the Landlord’s costs for making such maintenance
or repairs, plus fifteen (15%) percent for overhead, upon presentation of a bill therefor, as Additional Rent. Said bill shall
include interest at the rate determined pursuant to Section 3.04 on said cost commencing to accrue thirty (30) days after
the date the said bill has been provided by the Landlord to the Tenant to the date of payment in full by the Tenant.

 

If the Tenant refuses
or neglects to repair properly as required hereunder and to the reasonable satisfaction of the Landlord as soon as reasonably possible
after written demand, the Landlord may make such repairs without liability to the Tenant for any loss or damage that may accrue
to the Tenant’s merchandise, fixtures or other property or to the Tenant’s business by reason thereof, and upon completion
thereof the Tenant shall pay the Landlord’s costs for making such repairs, plus fifteen (15%) percent for overhead, upon
presentation of a bill therefor, as Additional Rent. Said bill shall include interest at the rate of ten percent (10%) per annum
on said cost commencing to accrue thirty (30) days after the date the said bill has been provided by the Landlord to the Tenant
to the date of payment in full by the Tenant.

 

10.03                    Surrender
of Premises

 

The Tenant covenants
subject to Article IX that it will leave the Leased
Premises in good repair, reasonable wear and tear not inconsistent with the operation of the Building and the
Leased Premises and damage by fire, lightning and tempest and other perils against which
the Landlord is insured excepted. Without limiting the generality of the foregoing, but subject to
the provisions of Section 9.02(b) hereof, it is agreed that at the expiration or earlier termination of the Term, the
Tenant shall surrender the Leased Premises in the same condition as the Leased Premises were in upon delivery of possession
thereto under this Lease, reasonable wear and tear not inconsistent with the
operation of the Building and the Leased Premises and damage
by fire, lightning and tempest only excepted, and shall surrender all keys for the Leased Premises to the Landlord at the
place then fixed for the payment of Rent and shall inform the Landlord of all combinations on locks, safes and vaults, if any,
in the Leased Premises. The Tenant’s obligations to observe or perform this covenant shall survive
the expiration or other termination of the Term of this Lease.

 

10.04                    Rules and
Regulations

 

The Rules and Regulations
adopted and promulgated by the Landlord from time to time and listed on Schedule “C” attached hereto are hereby made
a part of this Lease, and the Tenant agrees to comply with and observe the same. Tenant’s
failure to keep and observe said Rules and Regulations shall constitute a breach of this Lease in
a manner as if the same were contained herein as
covenants. Landlord reserves the right from time to time
to amend or supplement said Rules and Regulations and
to adopt and promulgate additional Rules and Regulations
applicable to the Leased Premises and the Building. Notice in writing of such Rules and
Regulations and amendments and supplements, if any, shall be given
to the Tenant, and the Tenant agrees thereupon to comply with and observe all such
Rules and Regulations, and amendments thereto and supplements thereof, provided that no rule or regulation shall contradict
any provision of this Lease. The Landlord shall not be responsible to the Tenant for non- observance or violation of
the any of the provisions of such Rules and Regulations
or of the terms of any other lease of premises in the Building
and the Landlord shall be under no obligation to enforce any such provisions. Provided that such Rules and Regulations are
non- discriminatory against the Tenant and are enforced
equally against all other tenants of the Building,
where applicable.

 

     

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10.05                    Tenant
Not to Overload Facilities

 

The Tenant shall not
install any equipment which will exceed or overload the capacity of any utility, electrical or mechanical facilities in the Leased
Premises and the Tenant will not bring into the Leased Premises or install any utility, electrical or mechanical facility or service
which the Landlord does not approve. The Tenant agrees that if any equipment installed by the Tenant requires additional utility,
electrical of mechanical facilities, the Landlord may in its sole discretion if they are available elect to install them at the
Tenant’s expense and in accordance with plans and specifications to be approved in advance in writing by the Landlord.

 

10.06                    Tenant
Not to Overload Floors

 

The Tenant shall not
bring upon the Leased Premises or any part thereof, any machinery, equipment, article or thing that by reason of its weight, size
or use, might in the opinion of the Landlord damage the Leased Premises and shall not at any time overload the floors of the Leased
Premises. If any damage is caused to the Leased Premises by any machinery, equipment, object or thing or by overloading, or by
any act, neglect or misuse on the part of the Tenant, or any of its servants, agents or employees, or any person having business
with the Tenant, the Tenant will forthwith repair the same, or at the option of the Landlord, pay the Landlord forthwith on demand
the cost of making good the same.

 

Article XI

UTILITIES AND HEATING, VENTILATING AND AIR CONDITIONING

 

11.01                    Utility
Charges

 

The Tenant shall be solely
responsible for and promptly pay as Additional Rent, all charges for heat, water, gas, electricity or any other utility used or
consumed in the Leased Premises, or allocated to the Leased Premises by the Landlord. Should the Landlord elect to supply the water,
gas, heat, electricity or any other utility used or consumed in the Leased Premises, the Tenant agrees to purchase and pay for
the same as Additional Rent at the applicable rates charged to the Landlord by the proper regulatory authority. In the event that
the charge for any utility is allocated by the Landlord to the Leased Premises, such charge shall be equitably determined by the
Landlord upon the advice of a qualified engineer or technician and such charge and any cost or expense incurred by the Landlord
in determining such allocation shall be the sole responsibility of the Tenant. In no event shall the Landlord be liable to any
injury to the Tenant, its servants, agents, employees, customers and invitees or for any injury or damage to the Leased Premises
or to any property of the Tenant, or to any property of any other person, firm or corporation on or about the Leased Premises caused
by an interruption or failure in the supply of any such utilities to the Leased Premises. If so required by the Landlord or by
the utility company or requested by the Tenant, separate meters shall be installed in the Leased Premises at the Tenant’s
expense.

 

     

    	 	19	 

    

 

11.02                     Heating,
Ventilating and Air Conditioning

 

		i.	The Tenant shall have the right, at its option, to manage the day to day operations of the Leased
Premises such as making repairs to the HVAC system, lighting, plumbing, security and other matters relating to the use and occupation
of the Leased Premises by the Tenant. Should the Tenant exercise this right, it shall operate, maintain and keep in good repair
(including, without limitation, maintenance and repairs occasioned by every day wear and tear) and regulate the heating, ventilating
and air conditioning system and equipment serving the Leased Premises in such a manner as to maintain reasonable conditions of
temperature and humidity within the Leased Premises. Items that are the responsibility of the Landlord shall be at (he Landlord’s
cost and items that are the responsibility of the Tenant shall be at the cost of the Tenant. For greater certainty, the Tenant’s
obligation to maintain and repair shall not extend to the replacement of such system and equipment or any major components thereof,
and shall be subject to the Landlord’s obligation as set out in Section 11.02ii below.

 

Should the Tenant decline
to exercise the option provided for in Section 11.02i above, then the Tenant shall pay monthly in advance, together with but
not as part of monthly instalments of Minimum Rent, the Landlord’s costs and expenses of all repairs to and maintenance and
operation of the heating, ventilating and air conditioning system and equipment which serve the Leased Premises. If the Leased
Premises are served by a heating, ventilating and air conditioning system and equipment which serves more than one premises in
the Building, the Tenant shall be obligated to pay a share only of the foregoing costs and expenses. The Tenant’s share of
all such costs and expenses shall be equitably determined by the Landlord upon the advice of a qualified engineer or technician
and such costs or expenses shall be allocated amongst the tenants served by the said heating, ventilating and air conditioning
system and equipment. The foregoing costs and expenses shall exclude the cost of fuel and electricity consumed by the use of such
equipment to the extent only that such costs and expenses are charged separately to and paid by the Tenant pursuant to other provisions
of this Lease;

 

		ii.	The Landlord shall, at its sole cost and expense, replace the heating, ventilating and air conditioning
system and equipment or any major components thereof if at any time during the Term any of such system, equipment and/or components
are incapable of being repaired. If, however, the Landlord is required to repair or replace such system and equipment or any major
components thereof as a result of any act, omission or negligence of the Tenant or those for whom it is in law responsible, the
Tenant shall pay the Landlord’s cost for making such repairs or replacements, plus fifteen (15%) percent for overhead, upon
presentation of a bill therefor, as Additional Rent. Said bill shall include interest at the rate determined pursuant to Section 3.03
on the said cost from the date of completion of such repairs by the Landlord to the date of payment in full by the Tenant.

 

     

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Article XII

INSURANCE AND INDEMNITY

 

12.01                    Tenant’s
Insurance

 

		i.	The Tenant shall throughout the Term, at its own cost and expense, take out and keep in full force
and effect and in the names of the Tenant (and the Landlord and the Mortgagee as additional insureds as their respective interests
may appear), the following insurance:

 

		(i)	Insurance upon property of every description and kind owned by the Tenant or for which the Tenant
is legally liable and which is located within the Building in an amount of not less than ninety percent (90%) of the full replacement
value thereof and with coverage against at least the perils of fire and standard extended coverage including sprinkler leakages
(where applicable);

 

		(ii)	Broad form boiler and machinery insurance on a blanket repair and replacement basis with limits
for each accident in the amount of not less than the replacement cost of all leasehold improvements and of all boilers, pressure
vessels, air conditioning equipment and miscellaneous electrical apparatus owned or operated by the Tenant or by others (other
than the Landlord) on behalf of the Tenant in the Leased Premises;

 

		(iii)	) Public liability and property damage insurance including personal injury liability, contractual
liability and owners’ protective insurance coverage with respect to the Leased Premises and the Tenant’s use of the
Common Areas. Such policies shall be written on a comprehensive basis within inclusive limits of not less than Five Million Dollars
($5,000,000.00) for bodily injury or property damage or such higher limits as the Landlord or the Mortgagee may reasonably require
from time to time;

 

		(iv)	Any other form of insurance as the Tenant or the Landlord or the Mortgagee may reasonably require
from time to time, but only with respect to the Leased Premises, in form, in amounts and for insurance risks against which a prudent
tenant would insure.

 

		ii.	All policies required to be written on behalf of the Tenant pursuant to this Section 12.01
shall contain the Mortgagee’s standard mortgage clause, if required by the Mortgagee, and shall contain a waiver of any subrogation
rights which the Tenant’s insurers may have against the Landlord and against those for whom the Landlord is in law responsible,
whether any such damage is caused by the act, omission or negligence of the Landlord or those for whom the Landlord is in law responsible.

 

     

    	 	21	 

    

 

		iii.	All policies shall be taken out with insurers acceptable to the Landlord and shall be in a form
satisfactory from time to time to the Landlord at all times acting reasonably. The Tenant agrees that certificates of insurance
on the Landlord’s standard form or if required by the Landlord or the Mortgagee certified copies or certificates of each
such insurance policy will be delivered to the Landlord as soon as practicable after the placing of the required insurance. All
policies shall contain an undertaking by the insurers to notify the Landlord and the Mortgagee in writing not less than thirty
(30) days prior to any material change, cancellation or termination thereof.

 

		iv.	The Tenant agrees that if the Tenant fails to take out or keep in force any such insurance referred
to in this Section 12.01, or should any such insurance not be approved by either the Landlord or the Mortgagee, each acting
reasonably, and should the Tenant not rectify the situation immediately after written notice by the Landlord to the Tenant, the
Landlord has the right without assuming any obligation in connection therewith to affect such insurance at the sole cost of the
Tenant and all outlays by the Landlord shall be immediately paid by the Tenant to the Landlord as Additional Rent without prejudice
to any other rights and remedies of the Landlord under this Lease.

 

12.02                     Increase
in Fire Insurance Premium

 

The Tenant covenants
with the Landlord that, except for the use of the Leased Premises in accordance with Section 7.01 hereof, the Tenant will
not do or omit or permit to be done or omitted upon the Leased Premises anything which shall be or result in a nuisance or which
shall cause any increase of premium for the fire, boiler and/or casualty rates on the Leased Premises or the Building or any part
thereof above the rate for the least hazardous type of occupancy legally permitted in the Leased Premises and the Tenant shall
pay such additional premium on the fire, boiler and/or casualty insurance policies. The Tenant also shall pay in such event any
additional premium on the rent insurance policy that may be carried by the Landlord for its protection against rent loss through
fire. If notice of cancellation shall be given respecting any insurance policy or if any insurance policy upon the Leased Premises
or the Building or any part thereof shall be cancelled or refused to be renewed by an insurer by reason of the use or occupation
of the Leased Premises or any part thereof or the acts or omissions of the Tenant, the Tenant shall forthwith remedy or rectify
such use or occupation upon request to do so in writing by the Landlord, and if the Tenant shall fail to do so within twenty-four
(24) hours of such written request, the Landlord shall have the right to enter the Leased Premises and rectify the situation, without
liability to the Tenant for any loss or damage occasioned by such entry and rectification, or shall be entitled to hold the Tenant
liable for any damage or loss resulting from such cancellation or refusal. In determining whether increased premiums are the result
of the Tenant’s use of the Leased Premises, a schedule, issued by the organization making the insurance rate on the Leased
Premises, showing the various components of such rate, shall be conclusive evidence of the several items and charges which make
the fire insurance rate of the Leased Premises. Bills for such additional premiums shall be rendered by the Landlord to the Tenant
at such times as the Landlord may elect, and shall be due from and payable by the Tenant when rendered, and the amount thereof
shall be deemed to be and be paid as Additional Rent.

 

     

    	 	22	 

    

 

12.03                    Landlord’s
Insurance

 

The Landlord shall at
all times throughout the Term carry insurance on the Building (excluding the footings and foundations) and the machinery, boilers
and equipment contained therein and owned by the Landlord or for which the Landlord has assumed responsibility against damage caused
by fire and extended perils, including the perils of flood, earthquake and the standard commercial building form, All Risks Perils,
or their equivalent, in such reasonable amounts and with such reasonable deductions as would be carried by a prudent owner of a
reasonably similar building, having regard to size, age and location. The Landlord shall also carry throughout the Term public
liability and property damage insurance with respect to the Landlord’s operations in the Building in such reasonable amounts
and with such reasonable deductions as determined from time to time by the Landlord, but in any event not less than $5,000,000.00
per occurrence, and shall also carry such other form or forms of insurance as the Landlord or the Mortgagee reasonably considers
advisable including from time to time rental income insurance, sound and television equipment insurance and war risk insurance
(when war insurance is available and a state or war exists or is threatened). The Tenant shall throughout the Term pay its Proportionate
Share of the total costs incurred by the Landlord in respect of the purchasing of all such insurance coverages as part of Operating
Costs.

 

Notwithstanding the Landlord’s
covenant herein and the Tenant’s contribution to the cost of the Landlord’s insurance premiums; (i) the Tenant
is not relieved of any liability arising from or contributed to by its negligence or its wilful acts or omissions; (ii) no
insurable interest or other benefit (including an implied waiver of subrogation from the Landlord’s insurers) is conferred
upon the Tenant under the Landlord’s insurance policies; and (iii) the Tenant has no right to receive proceeds from
the Landlord’s insurance policies.

 

12.04                    Plate
Glass

 

The Tenant shall replace
in accordance with the Landlord’s specifications, at the expense of the Tenant, any and all plate and other glass damaged
or broken from any cause whatsoever in and about the Leased Premises, save and except the negligence of the Landlord or those for
whom it is at law responsible, The Tenant shall insure and keep insured, at its expense, all plate and other glass in the Leased
Premises for and in its name and in the name of the Landlord, with interest of the Mortgagee of the Leased Premises noted in the
insurance policy, if so required.

 

12.05                    Sign
Insurance

 

The Tenant shall insure
and keep insured, at its expense, all signs relating to the Tenant’s business placed or erected on the exterior of the Leased
Premises or the Building for and in its name and in the name of the Landlord, with the interest of the Mortgagee of the Leased
Premises noted in the insurance policy, if so required by the Landlord.

 

12.06                    Loss
or Damage

 

The Landlord shall not
be liable for any death or injury arising from or out of any occurrence in, upon, at or relating to the Building or damage to property
of the Tenant or of others located on the Leased Premises, nor shall it be responsible for any loss of or damage to any property
of the Tenant or others from any cause whatsoever, unless such death, injury, loss or damage results from the negligence of the
Landlord, its agents, servants or employees or other persons for whom it may in law be responsible. Without limiting the generality
of the foregoing, the Landlord shall not be liable for any injury or damage to persons or property resulting from fire, explosion,
falling plaster, steam, gas, electricity, water, rain, flood, snow or leaks from any part of the Leased Premises or from the pipes,
appliances, plumbing works, roof or subsurface of any floor or ceiling or from the street or any other place or by dampness or
by any other cause whatsoever. The Landlord shall not be liable for any such damage caused by other tenants or persons in the Building
or by occupants of adjacent property thereto, or the public, or caused by construction or by any private, public of quasi-public
work. All property of the Tenant kept or stored on the Leased Premises shall be so kept or stored at the risk of the Tenant only
and the Tenant shall indemnify the Landlord and save it harmless from any claims arising out of any damages to the same, including,
without limitation, any subrogation claims by the Tenant’s insurers.

 

     

    	 	23	 

    

 

12.07                    Indemnification
of the Landlord

 

The Tenant shall indemnify
the Landlord and save it harmless from and against any and all claims, actions, damages, liability and expense in connection with
loss of life, personal injury and/or damage to property arising from or out of any occurrence in, upon or at the Leased Premises,
the occupancy or use by the Tenant of the Leased Premises or any part thereof, or occasioned wholly or in part by any act or omission
of the Tenant, its agents, contractors, employees, servants, licensees, or concessionaires or invitees. In case the Landlord shall,
without fault on its part, be made a party to any litigation commenced by or against the Tenant, then the Tenant shall protect
and hold the Landlord harmless and shall pay all reasonable costs, expenses and solicitors’ and counsel fees on a solicitor
and his client basis incurred or paid by the Landlord in connection with such litigation.

 

Article XIII

DESTRUCTION OF LEASED PREMISES

 

13.01                    Total
or Partial

 

Destruction of Leased
Premises Provided and it is hereby expressly agreed that if, during the Term, the Leased Premises are totally or partially destroyed
or damaged by fire or the elements, explosion, riot, impact by aircraft or vehicles, smoke damage, sprinkler leakage, malicious
damage, acts of God or the Queen’s enemies or other perils in respect of which the Landlord is insured, the following provisions
shall have effect:

 

		i.	If the Leased Premises are rendered partially unfit for occupancy by the Tenant, the Rent hereby
reserved shall abate in part only in the proportion that the part of the Leased Premises rendered unfit for occupancy by the Tenant
bears to the whole of the Leased Premises or if the Leased Premises are rendered wholly unfit for occupancy by the Tenant the Rent
hereby reserved shall be suspended in each case until the Leased Premises have been rebuilt and/or repaired or restored;

 

		ii.	Notwithstanding the provisions of subparagraph (a) immediately preceding, if the Leased Premises
in the opinion of the Architect to be given within ten (10) days of such destruction or damage shall be incapable of being
rebuilt and/or repaired or restored with reasonable diligence within 180 days of the happening of such destruction or damage, then
either the Landlord or the Tenant may at its option terminate this Lease by notice in writing to the other within thirty (30) days
of the date of such destruction or damage and in the event of such notice being so given this Lease shall cease and become null
and void from the date of such destruction or damage and the Tenant shall immediately surrender the Leased Premises and all interest
therein to the Landlord and the Rent shall be apportioned and shall be payable by the Tenant only to the date of such destruction
or damage and the Landlord may re-enter and repossess the Leased Premises discharged of this Lease but if within the said period
of thirty (30) days neither the Landlord nor the Tenant shall have given notice terminating this Lease as aforesaid, then upon
the expiration of the said period of thirty (30) days the Landlord shall with reasonable promptitude proceed to repair or restore
the Leased Premises;

 

     

    	 	24	 

    

 

		iii.	If the Leased Premises shall be capable with reasonable diligence of being rebuilt and/or restored
within 180 days of the happening of such destruction or damage in the written opinion of the Architect given within ten (10) days
of such destruction or damage, then the Landlord shall rebuild and/or restore or repair the Leased Premises with all speed within
the aforesaid 180 days.

 

		iv.	The certificates of the Architect shall bind the parties as to the due completion of repairs.

 

13.02                    Total
or Partial Destruction of Building

 

In the event that fifty
percent (50%) or more of the gross floor area of the Building shall be damaged or destroyed by fire or other cause, notwithstanding
that the Leased Premises may be unaffected by such fire or other cause, the Landlord shall have the right, to be exercised by notice
in writing delivered to the Tenant within sixty (60) days from and after said occurrence, to elect to cancel and terminate this
Lease. Upon the giving of such notice to the Tenant, the Term of this Lease shall expire by lapse of time upon the third (3rd)
day after such notice is given, and the Tenant shall vacate the Leased Premises and surrender the same to the Landlord.

 

Article XIV

ACKNOWLEDGEMENT OF TENANCY,

ATTORNMENT AND SUBORDINATION

 

14.01                    Acknowledgement
of Tenancy

 

Within five (5) business
days after request therefor by the Landlord, or in the event that upon any sale, assignment, mortgage, charge or hypothecation
of the Leased Premises and/ or the land thereunder by the Landlord, an acknowledgement of tenancy shall be required from the Tenant,
the Tenant agrees to deliver in recordable form a certificate to any proposed Mortgagee or purchaser, or to the Landlord, certifying
(if such be the case) that this Lease is in full force and effect; that Rent is paid currently without any defences or offsets
thereto; that the Tenant is in possession; that there are no prepaid Rent or security deposits other than those set out in this
Lease; that there are no uncured defaults by the Landlord or stating those claimed by the Tenant, and such other matters as the
Landlord may reasonably require.

 

     

    	 	25	 

    

 

14.02                    Attornment

 

The Tenant shall, if
possession is taken under, or any proceedings are brought for the foreclosure of, or in the event of the exercise of the power
of sale under any mortgage, charge, ground or underlying lease, or sale and leaseback transaction, deed of trust, or the lien resulting
from any other method of financing, refinancing or collateral financing made by the Landlord, or otherwise in existence against
the Leased Premises or the Building, attorn to the ground or underlying lessor, Mortgagee, chargee, lessee, trustee, other encumbrancer
or the purchaser upon any such foreclosure, sale or other proceeding and recognize such ground or underlying lessor, Mortgagee,
chargee, lessee, trustee, other encumbrancer or the purchaser as the Landlord under this Lease.

 

14.03                    Subordination

 

It is a condition of
this Lease and the Tenant’s right granted hereunder, that this Lease and all of the rights of the Tenant hereunder are, and
shall at all times be, subject and subordinate to any and all ground or underlying leases, mortgages, trust deeds, or the charge
or lien resulting from, or any instruments of, any financing, refinancing or collateral financing or any renewals or extensions
thereof from time to time in existence against the lands, buildings and improvements forming the Leased Premises and/or the Building,
provided the Tenant shall not be required to deliver to the Landlord a postponement by which the interest of the Tenant shall be
subject to the rights of any such ground or underlying lessor, Mortgagee, trustee, chargee or other encumbrancer until the Landlord
obtains from such party a non-disturbance agreement in a form satisfactory to the Tenant, acting reasonably. Such non-disturbance
agreement shall be on the Tenant’s standard form and shall include, without limitation, provisions that so long as the Tenant
is not in default under this Lease, such ground or underlying lessor, Mortgagee, trustee, chargee or other encumbrancer will not
do anything which will result in the termination of this Lease; that such ground or underlying lessor, Mortgagee, trustee, chargee
or other encumbrancer will not disturb the Tenant’s possession of the Leased Premises; and that such ground or underlying
lessor, Mortgagee, trustee, chargee or other encumbrancer will comply with all obligations of the Landlord under this Lease.

 

Article XV

ASSIGNMENT AND SUBLETTING

 

15.01                    Consent
Required

 

The Tenant covenants
not to assign, mortgage or encumber this Lease nor sublet the Leased Premises in whole or in part or permit the occupation of all
or any part thereof by others without the prior written consent of the Landlord, which consent shall not be unreasonably withheld
or delayed. The consent of the Landlord to any assignment, mortgage, encumbrance or subletting shall not constitute a waiver of
necessity for such consent to any subsequent assignment, mortgage, encumbrance or subletting. Subject to Section 15.07, this
prohibition against assigning or subletting shall be construed to include a prohibition against any assignment or subletting by
operation of law. If this Lease is assigned or any part of the Leased Premises is occupied by anybody other than the Tenant, the
Landlord may collect rent from the assignee, subtenant or occupant and apply the net rent collected to the Rent and other amounts
payable hereunder. No such assignment, subletting, occupancy or collection or the acceptance of the assignee, subtenant or occupant
as Tenant shall be deemed a waiver of this covenant. Notwithstanding any assignment, mortgage, encumbrance or sublease, the Tenant
shall remain fully liable on this Lease and shall not be released from performing any of its terms, covenants and conditions. The
preparation and cost of preparing an assignment of this Lease or a sublease of the Leased Premises shall be borne by the Tenant
and the Tenant shall pay all reasonable costs, both legal and administrative, incurred by the Landlord in reviewing and consenting
to such assignment or subletting. Any assignee, sublessee, trustee, mortgagee or occupant shall execute an indenture, prepared
by the Landlord, and covenant directly with the Landlord agreeing to be bound by all of the terms of this Lease as if such assignee,
sublessee, trustee, mortgagee or occupant had originally executed this Lease as Tenant.

 

     

    	 	26	 

    

 

15.02                    Conditions
of Consent

 

Prior to any consent
being given, the Landlord shall be entitled to be satisfied, acting reasonably, as to the financial ability and business standing
of the proposed assignee, sublessee, trustee, mortgagee or occupant is satisfactory to the Landlord and that the nature of the
business to be carried on in the Leased Premises shall not conflict with any other businesses then being carried on by any tenants
or occupants of the Building, or possibly put the Landlord in breach of any restrictive covenants which it may have granted.

 

15.03                    Mechanics
of Consent

 

Request by the Tenant
to assign, mortgage or encumber this Lease or to sublet, transfer or part with possession of all or any part of the Leased Premises
shall be in writing to the Landlord with such information as the Landlord may reasonably require and shall include an original
copy of the proposed assignment, sublease, mortgage, transfer or document evidencing the parting with or sharing possession and
the Landlord shall within fifteen (15) days thereafter notify the Tenant in writing either (a) that it consents to or does
not consent to the assignment, subletting, mortgaging, transferring, parting with or sharing possession, as the case may be.

 

15.04                    No
Advertising of Leased Premises

 

The Tenant shall not
print, publish, post, display or broadcast any notice or advertisement to the effect that the Leased Premises are for lease or
for sale or otherwise advertise the proposed sale or lease of the whole or any part of the Leased Premises and shall not permit
any broker or other party to do any of the foregoing, unless the complete text and format of any such notice, advertisement or
offer is first approved in writing by the Landlord, such approval not to be unreasonably withheld or delayed. Without in any way
restricting or limiting the Landlord’s right to refuse any text or format on other grounds, any text or format proposed by
the Tenant shall not contain any reference to the rental rate of the Leased Premises.

 

     

    	 	27	 

    

 

15.05                    Assignment
by Landlord

 

In the event of the sale
or lease by the Landlord of the Building or any part thereof or the assignment by the Landlord of this Lease or any interest of
the Landlord hereunder, and only to the extent that such purchaser or assignee assumes the covenants and obligations of the Landlord
hereunder, the Landlord shall, thereupon and without further agreement, be freed and relieved of all liability with respect to
such covenants and obligation.

 

 

15.06                    Corporate
Ownership

 

If the Tenant is a corporation
or if the Landlord has consented to an assignment of this Lease or a subletting of the Leased Premises to a corporation, any transfer
or issue by sale, assignment, operation of law or other disposition, or by subscription, from time to time, of all or any part
of the corporate shares of the Tenant or of any parent or subsidiary corporation of the Tenant or any corporation which is an associate
or affiliate of the Tenant (as those terms are defined pursuant to the Business Corporations Act of Ontario and amendments thereto)
which results in any change in the present effective voting control of the Tenant as at the date of execution of this Lease (or
at the date an assignment of this Lease or subletting of the Leased Premises to a corporation is permitted) shall require the prior
written consent of the Landlord and all of the terms and provisions of this Article XV shall apply to same as if same were
a request for assignment or subletting pursuant to the provisions of Section 15.01 hereof. The Landlord acknowledges that
this Section 15.06 shall not apply to the Tenant so long as the Tenant is or becomes a public corporation, meaning that the
shares of the Tenant or of the parent corporation of the Tenant, if any, are listed on a recognized stock exchange.

 

15.07                    Particular
Assignment by Trillium

 

Notwithstanding anything
to the contrary contained in the Lease, so long as the Tenant is Trillium Therapeutics Inc. and is not then in default under this
Lease, the Tenant shall be entitled to assign this Lease or sublet the whole or any part of the Leased Premises, without the Landlord’s
consent, but upon written notice to the Landlord at least 10 days prior to the effective date thereof, to:

 

(a)            a
subsidiary, parent or affiliated corporation of the Tenant (within the meaning of the Canada Business Corporations Jet);
provided, in the event that the assignee or subtenant ceases to be a subsidiary, parent or affiliate of the Tenant, a Transfer
in respect of which the Landlord’s consent is required as provided for herein shall be deemed to have occurred;

 

(b)            a
corporation formed as a result of a merger or amalgamation of the Tenant (within the meaning of the Canada Business Corporations
Act) with another corporation; or

 

(c)            the
purchaser of the Tenant’s business operations in Canada or a substantial portion thereof (other than as a result of a sale
pursuant to bankruptcy, insolvency or similar creditor proceedings), provided that said purchaser is a publicly traded corporation
on a major stock exchange in Canada or the United States of America or has a net worth at least equal to that of the Tenant as
of the Commencement Date; or If the Tenant (or any permitted assignee thereof) is a corporation whose shares are traded publicly
on a recognized exchange, and if such number of shares of such corporation or of any parent or affiliate of such corporation are
issued or transferred, whether by operation of law or otherwise, so as to result in a change in the effective control of such corporation
then, and so often as such a change of control shall occur, such change shall not be deemed to be an assignment of this Lease,
and the Tenant shall notify the Landlord in writing in accordance with this section.

 

     

    28

    

 

Notwithstanding the foregoing, it is understood
and agreed that, upon any such Transfer, the Tenant will not be released nor relieved from its obligations under this Lease including,
without limitation, the obligation to pay Rent and, if the Lease is assigned, the Transferee shall covenant directly with the Landlord
to be bound by the terms of the Lease.

 

Article XVI

DEFAULT OF TENANT

 

16.01                    Right
to Re-Enter

 

When

 

		i.	the Tenant shall be in default in the payment of any Rent and such default shall continue for a
period of five (5) consecutive days; or

 

		ii.	the Tenant shall be in default of any of its covenants, obligations or agreements under this Lease
or of any term or condition of this Lease (other than its covenant to pay Rent) and such default shall continue for a period of
fifteen (15) consecutive days after written notice by the Landlord to the Tenant specifying with reasonable particularity the nature
of such default and requiring the same to be remedied (or, where such default is not capable of remedy within fifteen (15) consecutive
days, then if the Tenant shall fail within such period to commence and proceed diligently to remedy such default within such longer
period as is reasonably required to effect such remedy);

 

then and in any of such cases the then
current month’s Rent, together with the Rent for the three (3) months next ensuing shall immediately become due and
payable, and at the option of the Landlord, the Term shall become forfeited and void, and the Landlord may without notice or any
form of legal process whatsoever forthwith re-enter upon the Leased Premises or any part thereof in the name of the whole and repossess
and enjoy the same as of its former estate, anything contained in any statute or law to the contrary notwithstanding, provided,
however, that such forfeiture shall be wholly without prejudice to the right of the Landlord to recover arrears of Rent or damages
for any antecedent default by the Tenant of its covenants, obligations or agreements under this Lease or any term or condition
of this Lease and provided further that notwithstanding any such forfeiture the Landlord may subsequently recover from the Tenant
damages for loss of Rent suffered by reason of this Lease having been prematurely determined.

 

     

    29

    

 

16.02                    Right
to Relet

 

Should the Landlord elect
to re-enter, as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided
for by law, it may either terminate this Lease or it may from time to time without terminating this Lease, make such alterations
and repairs as may be necessary in order to relet the Leased Premises, and relet the Leased Premises or any part thereof as agent
for the Tenant for such term or terms (which may be for a term extending beyond the Term of this Lease) and at such rental or rentals
and upon such other terms and conditions as the Landlord in its sole discretion may deem advisable; upon each reletting all rentals
received by the Landlord from such reletting shall be applied; first, to the payment of any indebtedness other than Rent due hereunder
from the Tenant to the Landlord; second, to the repayment of any costs and expenses of such reletting, including brokerage fees
and solicitors’ fees and of costs of such alterations and repairs; third, to the payment of Rent due and unpaid hereunder,
and the residue, if any, shall be held by the Landlord and applied in payment of future Rent as the same may become due and payable
hereunder. If such Rent received from such reletting during any month be less than that to be paid during that month by the Tenant
hereunder, the Tenant shall pay any such deficiency to the Landlord. Such deficiency shall be calculated and paid monthly. No such
re-entry or taking possession of the Leased Premises by the Landlord shall be construed as an election on its part to terminate
this Lease unless a written notice of such intention be given to the Tenant or unless the termination thereof be decreed by a court
of competent jurisdiction. Notwithstanding any such reletting without termination, the Landlord may at any time thereafter elect
to terminate this Lease for such previous breach. Should the Landlord at any time terminate this Lease for any breach, in addition
to any other remedies it may have, it may recover from the Tenant all damages it may incur by reason of such breach, including
the cost of recovering the Leased Premises, and including the worth at the time of such termination of the excess, if any, of the
amount of Rent and charges equivalent to Rent reserved in this Lease for the remainder of the Term hereof over the then reasonable
rental value of the Leased Premises for the remainder of the Term hereof, all of which amounts shall be immediately due and payable
from the Tenant to the Landlord. In determining the Rent which would be payable by the Tenant hereunder, subsequent to default,
the annual Rent for each year of the unexpired Term shall be equal to the then annual Minimum Rent payable by the Tenant at the
time of default, together with all Additional Rent which would have been payable during the calendar year in which this Lease was
terminated, pro-rated over a full calendar year, if required.

 

16.03                    Legal
Expenses

 

In case suit shall be
brought for recovery of possession of the Leased Premises, for the recovery of Rent or any other amount due under the provisions
of this Lease, or because of the breach of any other covenant herein contained on the part of the Tenant to be kept or performed
and a breach shall be established, Tenant shall pay to Landlord all expenses incurred therefore, including reasonable solicitor’s
and counsel fees on a solicitor and his client basis.

 

16.04                    Bankruptcy

 

The Tenant covenants
and agrees that if the Term or any of the goods and chattels of the Tenant on the Leased Premises shall be at any time during the
Term seized or taken in execution or attachment by any creditor of the Tenant or if the Tenant shall make any assignment for the
benefit of creditors or any bulk sale or, becoming bankrupt or insolvent, shall take the benefit of any Act now or hereafter in
force for bankrupt or insolvent debtors or if any order shall be made for the winding up of the Tenant, or if the Leased Premises
shall without the written consent of the Landlord become and remain vacant for a period of fifteen (15) days, or be used by any
other persons than such as are entitled to use them under the terms of this Lease, or if the Tenant shall without the written consent
of the Landlord abandon or attempt to abandon the Leased Premises or to sell or dispose of goods or chattels of the Tenant or to
remove them or any of them from the Leased Premises, other than in the ordinary course of its business, so that there would not
in the event of such abandonment, sale or disposal be sufficient goods on the Leased Premises subject to distress to satisfy the
Rent above due or accruing due, then and in every such case the then current month’s Rent and the next ensuing three (3) months’
Rent shall immediately become due and be paid and the Landlord may re-enter and take possession of the Leased Premises as though
the Tenant or the servants of the Tenant or any other occupant of the Leased Premises were holding over after the expiration of
the Term and the Term shall, at the option of the Landlord, forthwith become forfeited and determined, and in every one of the
cases above such accelerated Rent shall be recoverable by the Landlord in the same manner as the Rent hereby reserved and as if
Rent were in arrears and the said option shall be deemed to have been exercised if the Landlord or its agents given notice to the
Tenant as provided for herein.

 

     

    30

    

 

16.05                    The
Landlord May Perform Covenants

 

If the Tenant shall fail
to perform any of its covenants or obligations under or in respect of this Lease, the Landlord may from time to time at its discretion,
perform or cause to be performed any of such covenants or obligations, or any part thereof, and for such purpose may do such things
upon or in respect of the Leased Premises or any part thereof as the Landlord may consider requisite or necessary.

 

All expenses incurred
and expenditures made by or on behalf of the Landlord under this Section shall be forthwith paid by the Tenant and if the
Tenant fails to pay the same, the Landlord may add the same to the Rent and recover the same by all remedies available to the Landlord
for the recovery of Rent in arrears.

 

16.06                    Landlord
May Follow Chattels

 

Provided that in case
of removal by the Tenant of the goods and chattels of the Tenant from the Leased Premises, other than in the ordinary course of
its business, the Landlord may follow the same for thirty (30) days in the same manner as is provided for in the Commercial Tenancies
Act (Ontario).

 

16.07                    Waiver
of Exemptions

 

The Tenant hereby covenants
and agrees with the Landlord in consideration of the premises and of the leasing and letting by the Landlord to the Tenant of the
Leased Premises for the Term hereby created (and it is upon that express understanding that these presents are entered into) that
notwithstanding anything contained in the Commercial Tenancies Act (Ontario), or in any other Statute which may hereafter be passed
to take the place of the said Act or to amend the same, none of the goods or chattels owned by the Tenant at any time during the
continuance of the Term hereby created on the Leased Premises shall be exempt from levy by distress for Rent in arrears by the
Tenant as provided for by any Section or Sections of the said Act, or any amendment or amendments thereto, and that upon any
claim being made for such exemption by the Tenant or on distress being made by the Landlord this covenant and agreement may be
pleaded as an estoppel against the Tenant in any action brought to test the right to the levying upon any such goods as are named
as exempted in said Section or Sections or amendment or amendments thereto, the Tenant waiving as the Tenant hereby does,
all and every benefit that could or might have accrued to the Tenant under and by virtue of the said Section or Sections of
the said Act or any amendment or amendments thereto but for this covenant. For clarification purposes it is understood and agreed
that the Landlord shall have no claims under this Section 16.07 against goods or chattels leased by the Tenant from arm’s
length third parties.

 

     

    31

    

 

Article XVII

ACCESS BY THE LANDLORD

 

17.01                    Right
of Entry

 

		i.	The Landlord and any person authorized by the Landlord shall on reasonable notice to the Tenant
have the right to use, install, maintain and/or repair pipes, wires, ducts or other installations in, under or through the Leased
Premises for or in connection with the supply of any services to the Leased Premises or any other premises in the Building. Such
services shall include (without limiting the generality of the foregoing) gas, electricity, water, sanitation, heat, ventilation
and air-conditioning.

 

		ii.	When necessary by reason of accident or other cause or in order to make any repairs, alterations,
improvements or additions in or relating to the Leased Premises or to other portions of the Building, the Landlord may, at mutually
agreeable times, cause such reasonable and temporary obstruction of Common Areas as may be necessary and may interrupt or suspend
the supply to the Leased Premises of electricity, water and other services where necessary and until said repairs, alterations,
improvements or additions shall have been completed. There shall be no abatement in Rent because of any such obstruction, interruption
or suspension provided that such repairs, alterations, improvements or additions are made as expeditiously as is reasonably possible
and in a manner designed to minimize interference with the conduct of the Tenant’s business.

 

		iii.	The Landlord or its agents shall have the right to enter upon the Leased Premises at all reasonable
times and on reasonable notice to the Tenant to view the state of repair, condition and use thereof and to make such repairs, alterations,
improvements or additions as it may deem advisable and the Landlord or its agents shall be allowed to take all material into and
upon the Leased Premises that may be required therefor without the same constituting an eviction of the Tenant in whole or in part.
The Rent shall in no way abate while such decorations, repairs, alterations, improvements or additions are being made by reason
of loss or interruption of the business of the Tenant because of the prosecution of any such work, provided that the same are made
as expeditiously as is reasonably possible and in a manner designed to minimize interference with the Tenant’s business.

 

		iv.	The Landlord shall not be liable to the Tenant for any interference or inconvenience caused by
any additional construction or repairs permitted hereunder, provided such additional construction or repairs are carried out as
expeditiously as is reasonably possible and in a manner designed to minimize interference with the Tenant’s business.

 

     

    32

    

 

		v.	During the six (6) months prior to the expiration of the term of this Lease, the Landlord
may at all reasonable times and on reasonable notice to the Tenant exhibit the Leased Premises to prospective tenants or purchasers
and place upon the Leased Premises the usual notices “To Let” or “For Sale” which notices the Tenant shall
permit to remain where placed without molestation.

 

		vi.	If the Tenant shall not be personally present to open and permit an entry into the Leased Premises,
at any time, when for any reason an entry therein shall be necessary as a result of an emergency (for example, fire, flood, Act
of God and the like), the Landlord or the Landlord’s agents may enter the same by a master key, or may forcibly enter the
same, without rendering the Landlord or such agents liable therefor, and without in any manner affecting the obligations and covenants
of this Lease.

 

		vii.	Nothing in this Section contained, however, shall be deemed or construed to impose upon the
Landlord any obligation, responsibility or liability whatsoever for the care, maintenance or repair of the building or any part
thereof, except as otherwise in this Lease specifically provided.

 

Article XVIII

HOLDING OVER, SUCCESSORS

 

18.01                    Holding
Over

 

In the event the Tenant
remains in possession of the Leased Premises after the end of the Term or Renewal Term, as applicable, and without the execution
and delivery of a new lease, there shall be no tacit renewal of this Lease and the Term hereby granted, and the Tenant shall be
deemed to be occupying the Leased Premises as a Tenant from month to month at a monthly rent payable in advance on the first day
of each month equal to the sum of one-hundred and twenty five percent (125%) of the Minimum Rent payable during the last full month
of the Term or Renewal Term, as applicable, and as additional rent, one-twelfth of the Additional Rent payable by the Tenant during
the last Lease Year of the Term or Renewal Term, as applicable, and otherwise upon the same terms and conditions as are set forth
in this Lease, so far as applicable.

 

18.02                    Successors

 

All rights and liabilities
herein given to, or imposed upon, the respective parties hereto shall extend to and bind the several respective heirs, executors,
administrators, successors and assigns of the said parties, and if there shall be more than one tenant, they shall all be bound
jointly and severally by the terms, covenants and agreements herein. No rights, however, shall enure to the benefit of any assignee
of the Tenant unless the assignment to such assignee has been approved by the Landlord in writing as provided in Section 15.01
hereof.

 

     

    33

    

 

Article XIX

QUIET ENJOYMENT

 

19.01                    The
Landlord’s Covenant

 

The Landlord covenants
with the Tenant for quiet enjoyment.

 

Article XX

MISCELLANEOUS

 

20.01                    Waiver

 

Failure by the Landlord
or the Tenant to require performance of any term, covenant or condition herein contained shall not be deemed to be a waiver of
such term, covenant or condition or of any subsequent breach of the same or of any other term, covenant or condition herein contained.
The subsequent acceptance of Rent hereunder by the Landlord shall not be deemed to be a waiver of any preceding breach by the Tenant
of any term, covenant or condition of this Lease, other than the failure of the Tenant to pay the particular rent so accepted,
regardless of the Landlord’s knowledge of such preceding breach at the time of acceptance of such Rent. No covenant, term
or condition of this Lease shall be deemed to have been waived by the Landlord or the Tenant, unless such waiver be in writing
by the Landlord or the Tenant, respectively.

 

20.02                    Accord
and Satisfaction

 

No payment by the Tenant
or receipt by the Landlord of a lesser amount than the monthly rent herein stipulated shall be deemed to be other than on account
of the earliest stipulated rent, nor shall any endorsement or statement or any cheque or any letter accompanying any cheque or
payment as Rent be deemed an accord and satisfaction, and the Landlord may accept such cheque or payment without prejudice to the
Landlord’s right to recover the balance of such Rent or pursue any other remedy in this Lease provided.

 

20.03                    Entire
Agreement

 

This Lease and the schedules
and rider, if any, attached hereto and forming a part hereof, set forth all the covenants, promises, agreements, conditions and
understandings between the Landlord and the Tenant concerning the Leased Premises and there are no covenants, promises, agreements,
conditions or representations, either oral or written, between them other than are herein and in the said schedules and rider,
if any, set forth. Except as herein otherwise provided, no subsequent alteration, amendment, change or addition to this Lease shall
be binding upon the Landlord or the Tenant unless reduced to writing and signed by them.

 

20.04                    No
Partnership

 

The Landlord does not,
in any way or for any purpose, become a partner of the Tenant in the conduct of its business, or otherwise, or joint venturer or
a member of a joint enterprise with the Tenant.

 

20.05                    Force
Majeure

 

In the event that either
party hereto shall be delayed or hindered in or prevented from the performance of any act required hereunder by reason of strikes,
lock-outs, labour troubles, inability to procure materials, failure of power, restrictive governmental laws or regulations, riots,
insurrection, war or other reason of a like nature not the fault of the party delayed in performing work or doing acts required
under the terms of this Lease, then performance of such act shall be excused for the period of the delay and the period for the
performance of any such act shall be extended for a period equivalent to the period of such delay. Notwithstanding anything herein
contained, the provisions of this Section 20.05 shall not operate to excuse the Tenant from the prompt payment of Minimum
Rent, Additional Rent or any other payments required by the terms of this Lease, nor entitle the Tenant to compensation for any
inconvenience, nuisance or discomfort thereby occasioned.

 

     

    34

    

  

20.06                    Notices

 

Any notice herein provided
or permitted to be given by the Tenant to the Landlord shall be sufficiently given if delivered, or if mailed in Canada, registered
and postage prepaid, addressed to the Landlord at 161 Frederick Street, Suite 201, Toronto, Ontario, M5A 4P3, and any notice
herein provided or permitted to be given by the Landlord to the Tenant shall be sufficiently given if delivered, or if mailed in
Canada, registered and postage prepaid, addressed to the Tenant at 2488 Dunwin Drive, Mississauga, Ontario L5L 1J9. Any such notice
given as aforesaid shall be conclusively deemed to have been given on the day on which such notice is delivered or on the third
day that there is postal delivery following the day on which such notice is mailed, as the case may be. Either party may at any
time give notice in writing to the other of any change of address of the party giving such
notice and from and after the giving of such notice the address therein specified
shall be deemed to be the address of such party
for the giving of notices hereunder. The word “notice” in this paragraph shall
be deemed to include any request, statement or other writing in this Lease provided or permitted to be given by the Landlord to
the Tenant or by the Tenant to the Landlord.

 

20.07                    Place
for Payment of Rent

 

The Tenant shall pay
the Rent, including all Additional Rent, at the office of the Landlord specified in Section 20.06 hereof, or at such place
or places as the Landlord may designate from time to time by notice in writing.

 

20.08                    Approval
in Writing

 

Wherever the Landlord’s
consent is required to be given hereunder or wherever the Landlord must approve any act or performance by the Tenant, such consent
or approval, as the case may be, shall be given in writing by the Landlord before same shall be deemed to be effective.

 

20.09                    Registration

 

The Tenant shall not
register this Lease without the written consent of the Landlord. However, upon the request of either party hereto the other party
shall join in the execution of a memorandum or so called “short form” of this Lease for the purpose of registration.
Said memorandum or short form of this Lease shall describe the parties, the Leased Premises
and the Term and shall be prepared and registered at the expense of the Tenant.

 

20.10                    Governing
Law

 

The Lease is to be governed
by and construed according to the laws of the Province of Ontario.

 

     

    35

    

 

20.11                    Captions
and Section Numbers

 

The
captions, section numbers and article numbers appearing
in this Lease are inserted only as
a matter of convenience and in no way
define, limit, construe or describe the scope or intent of such sections or articles
or of this Lease, nor in any way affect this Lease.

 

20.12                    Partial
Invalidity

 

If any term, covenant
or condition 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 and/or the application of such term, covenant or condition to persons or circumstances other than those
as to which it is held invalid or unenforceable, shall not be affected thereby and each term, covenant or condition of this Lease
shall be separately valid and enforceable to the fullest extent permitted by law.

         

20.13                    No
Option

 

The submission of this
Lease for examination does not constitute a reservation of or option for the Leased Premises and this Lease becomes effective as
a Lease only upon execution and delivery thereof by the Landlord and the Tenant.

 

20.14                    Compliance
with The Planning Act

 

It is an expressed condition
of the within Lease and the Landlord and the Tenant so agree and declare that the provisions of Section 50 of the Planning
Act, 1991 and amendments thereto, be complied with if applicable in law. Until any necessary consent to the Lease is obtained,
the Term (including any extensions thereof) and the Tenant’s rights and entitlement granted by this Lease are deemed to extend
for a period only of twenty-one (21) years less one (1) day from the Lease Commencement Date. The Tenant shall apply diligently
to prosecute such application for such consent forthwith upon the execution of the Lease by both the Landlord and the Tenant and
the Tenant shall be responsible for all costs, expenses, taxes and levies imposed, charged
or levied as a result of such application and in order to obtain such consent. The Tenant shall keep the Landlord informed, from
time to time, of its progress in obtaining such consent and the Landlord shall cooperate with the Tenant in regard to such application.
Notwithstanding the foregoing provisions of this Section 20.14, the Landlord reserves the right at any time to apply for such
consent in lieu of the Tenant (at the Tenant’s expense) and the Tenant’s application is hereby expressly made subject
to any application with the Landlord intends to make.

 

20.15                    Compliance
With Environmental Law

 

The Tenant hereby covenants
and agrees to indemnify and save harmless the Landlord and all those for whom the Landlord is at law responsible from any and all
loss, costs, claims, damages, liabilities, expenses or
injuries caused or contributed to by any hazardous substances which are at any time located, stored or incorporated in any part
of the Building or Leased Premises resulting from the actions of the Tenant during the term of this Lease or any renewal thereof.

 

     

    36

    

 

20.16                    Time
To Be of the Essence

 

Time shall be of the
essence of this Indenture of Lease.

 

20.17                    Schedules

 

The following schedules
form part of this Lease:

 

Schedule A
- Legal Description of Building;

Schedule B -
Sketch Floor Plan of Leased Premises;

Schedule B-l -
Sketch Floor Plan showing Landlord’s Work;

Schedule C -
Rules and Regulations;

Schedule D - Special Provisions;

Schedule E - Tenant Leasehold Improvements
- Feasibility Plan.

 

     

    37

    

 

IN WITNESS WHEREOF the
Landlord and Tenant have executed this Lease as of the day and year first above written.

  

	 	LANDLORD:
	 	 
	 	PENWEST REVENUE CORP.
	 	 
	 	 
	 	Per:	/s/
    Benjamin Rubin
	 	 	Name: Benjamin Rubin
Title:
    President
	 	 	 
	 	I/We have authority to bind the
    Corporation
	 	 
	 	 
	 	TENANT:
	 	 
	 	TRILLIUM THERAPEUTICS INC.
	 	 
	 	 
	 	Per:	/s/
    James Parsons
	 	 	Name: James Parsons
	 	 	Title: CFO
	 	 	 
	 	I/We
have authority to bind the Corporation

 

    

    

    

 

SCHEDULE “A”

LEGAL DESCRIPTION OF BUILDING

 

PIN 13421-0282 (LT) (No. 43)

 

Lot 348, 349, 350, Plan 915 Mississauga
and Part Lot 351, Plan 915 Mississauga, designated as Part 1 on Plan 43R-921; Mississauga

 

    

    

    

 

 

SCHEDULE “B” - SKETCH FLOOR
PLAN OF LEASED PREMISES

 

[Excluded from Leased Premises]

 

 

 

    

    

    

 

Schedule “B-l”

Landlord’s Work

 

 

    

    

    

 

 

SCHEDULE
 “C”

RULES AND REGULATIONS

 

1.            All
loading and unloading of goods shall be done only in the areas, and through the entrances, designated for such purposes by the
Landlord.

 

2.            Intentionally
deleted.

 

3.            All
garbage and refuse shall be kept in the kind of containers specified by the Landlord and shall not be burned in or about the Leased
Premises.

 

4.           The
plumbing facilities shall not be used for any other purpose than that for which they are intended, and no foreign substance of
any kind shall be thrown therein, and the expense of any breakage, stoppage or damage resulting from a violation of this provision
shall be borne by the Tenant.

 

5.           The
Tenant shall use at the cost of the Tenant such pest extermination contractor as the Landlord may reasonably direct and at such
intervals as the Landlord may reasonably require.

 

6.           The
Tenant, its employees or agents, shall not mark, paint, drill or in any way deface any walls, ceilings, partitions, floors, wood,
stone or iron without the written consent of the Landlord, other than as required for normal decoration provided that upon the
expiration or earlier termination of this Lease, the Tenant shall repair all damage caused thereby in a good and workmanlike manner.

 

7.           The
Tenant shall not permit any cooking in the Leased Premises without the written consent of the Landlord, except in the kitchen and
cafeteria premises designated by the Tenant for use by its staff.

 

8.            No
sidewalk, entry, passageway or staircase shall be obstructed or used by the Tenant, its officers, agents, servants, employees,
contractors, customers, invitees or licensees for any purpose other than ingress to and egress from the Leased Premises.

 

9.            Intentionally
deleted.

 

10.          Intentionally
deleted.

 

11.          No
one shall use the Leased Premises for sleeping apartments or residential purposes, or for the storage of personal effects or articles
other than those required for the purposes permitted by the lease to which these rules and regulations are annexed.

 

12.          Any
hand trucks, carryalls or similar appliances used in the Building shall be equipped with rubber tires, side guards and such other
safeguards as the Landlord shall require.

 

13.          No
animals or birds shall be brought into the Leased Premises except as permitted by the Lease to which these rules and regulations
are annexed.

 

14.          Intentionally
deleted.

 

    

    2

    

 

15.         The
Tenant shall not solicit business in the Common Areas or distribute any handbills or other advertising matter in the Common Areas
or in automobiles parked in the parking areas.

 

16.          The
Tenant shall keep the Leased Premises at a temperature sufficiently high to prevent freezing of water in pipes and fixtures.

 

17.         The
Tenant shall comply with all applicable requirements of the governmental and other such authorities having jurisdiction regulating
noise, vibration and odours.

 

    

    

    

 

SCHEDULE “D”

SPECIAL PROVISIONS

 

1.            SPACE
MEASUREMENT:

 

Prior
to the Commencement Date, the Landlord shall, at its cost, deliver to the Tenant a certificate
from a third party architect or certified BOMA contractor confirming the actual measurement of the Leased Premises in accordance
with BOMA (ANSI/BOMA Z65.1 - 1996) standards.

 

2.            NO
RELOCATION:

 

The Landlord shall not be permitted to
alter or relocate the Leased Premises during the Term or any extensions thereof

 

3.            OPTION
TO TERMINATE:

 

Tenant shall have the option to terminate
the Lease effective any time after the end of the Sixtieth (60th) month of the Term, being October 31,
2020. Tenant shall give written notice of its intention to
exercise the Termination Option not later than nine (9) months prior to the effective date. In the event the Termination Option
is exercised, Tenant shall pay the Landlord the unamortized balance (based on an 8% rate) of
the Tenant Improvement Allowance plus Four (4) months Minimum Net and Additional Rent if terminated
from the 61st month to the 84th month, or Two
(2) months Minimum Net and Additional Rent if terminated after the 84th
month (the “Termination Option Fee”). Tenant shall pay the Termination Option Fee
no later than thirty (30) days prior to the effective date of such termination.

 

4.            FIXTURING
PERIOD:

 

Provided
the Lease has been fully executed and proof
of the required insurance has been provided, the
Tenant shall be granted access to the Leased Premises as of August 1,2015, (or earlier,
as close as possible to July 1, 2015, based on the
moving out schedule of the departing occupant of the Leased Premises) until one day before
the Commencement Date (the “Fixturing Period”). During the
Fixturing Period, access to the Leased Premises shall be
granted to the Tenant, and all terms of the Lease shall remain in full force and effect,
save and except for Minimum Rent and Additional Rent which shall not be due and payable until the Commencement Date. The Tenant
shall be permitted to occupy the Leased Premises during the Fixturing Period for the purpose
of conducting business.

 

5.            PARKING:

 

The Tenant shall be entitled to fifty (50)
free parking spaces on-site throughout the Term. Of these, thirty-six (36) shall be available on a first-come, first-serve basis,
and the balance shall be Reserved Parking - fourteen (14) reserved spaces.

 

6.            OPTION(S) TO
EXTEND:

 

Provided the Tenant is not currently in
material default, the Tenant shall have the option to extend the Lease (the “Option(s) to
Extend”) for up to Two (2) further term(s) of Five (5) years
each (the “Extended Term(s)”) upon giving the Landlord at least six (6) months’ written notice of
the exercise of such right subject to the same provisions as are contained in the Lease except that (a) there shall be no
improvement allowance, rent free period, etc.; (b) there shall be no further right to extend; and (c) the rent for
the extended term shall be the then market rent for the Premises as determined by agreement between the Landlord and Tenant.

 

    

    2

    

 

In the event Tenant
exercises its option(s) to extend, but the Landlord and Tenant are unable to reach agreement with respect to the financial
terms during the Extended Term(s) within sixty (60) days of delivery of the written notice by the Tenant to the Landlord exercising
the Tenant’s Option to Extend, then the matter shall be referred to arbitration in accordance the Arbitration Act
(Ontario) and the decision of the arbitrator(s) shall be final and binding on the parties named hereto. Landlord and Tenant
agree that the cost of the arbitration shall be borne equally by Landlord and Tenant.

 

7.            LANDLORD’S
WORK:

 

Provided the Lease has been fully executed,
the Landlord will complete all below Landlord’s Work at the Landlord’s sole cost and shall use best efforts to substantially
complete the Landlord’s Work no later than July 1st, 2015 (“Work Completion Date”):

 

a)            Ensure
that all existing plumbing, electrical, mechanical, HVAC and lighting within the office areas are in proper working order, all
existing bathroom facilities are in proper working order, and that the HVAC servicing the other areas are in proper working order;

 

b)            Remove
storage vault as indicated on Schedule “B-l”;

 

c)            Remove
 “Down Flow Booth” as indicated on Schedule “B-l”;

 

d)            Insure
that the existing UPS system and generator remain with the Leased Premises for Tenant use and is in proper working order as of
the Fixturing Period Date (the cost of acquisition of UPS and generator, up to a cap of $48,000, to be deducted from the total
Leasehold Improvement Allowance); and

 

e)            Remove
the safe and cage in the hormone lab as indicated on Schedule “B-l”.

 

In the event Landlord’s Work is not
completed by the Work Completion Date, and it is not as a result of the Tenant’s actions, the Fixturing Period and Commencement
Date shall be delayed one day for each day beyond the Work Completion Date that the work is not complete.

 

The Landlord will complete all Landlord’s
Work in a good and workmanlike manner and ensure that the entire unit will be in accordance with all building and fire codes, prior
to occupancy.

 

The Tenant shall, within thirty (30) days
following the completion of the Landlord’s Work, notify the Landlord of any defects and the Landlord shall correct such defects
within fifteen (15) days following notice to the Landlord. In the event that the Landlord fails to correct any of the deficiencies
in the Landlord’s Work, then the Tenant may, at its option, correct such deficiencies and the Landlord shall reimburse the
Tenant for such costs within thirty (30) days from the date Tenant remitted payment.

 

    

    3

    

 

For greater clarity, the attached Schedules
 “B” and “B-l” floor plan do not accurately reflect the current as-built plan and the Landlord will not
be making any alterations thereto.

 

8.            TENANT’S
WORK AND TENANT INDUCEMENT:

 

The Leased Premises shall be accepted by
the Tenant on an “as is” basis and the Landlord shall not be required to do any work in respect thereof prior to delivering
possession of the Leased Premises to the Tenant except for the Landlord’s Work itemized above. Any installations, removals,
alterations, additions, partitions, repairs or improvements which are necessary to enable the Tenant to carry on its business in
the Leased Premises (the “Tenant’s Work”) shall be made, erected or installed at the sole cost of the
Tenant.

 

As an inducement to the Tenant to enter
into this Lease, the Landlord shall provide the Tenant with an allowance in the amount of Fifteen Dollars ($15.00) per square foot
of Rentable Area of the Premises, plus HST, (the “Leasehold Improvement Allowance”) for the purpose of constructing
leasehold improvements in the Premises, including professional fees (the “Leasehold Improvements”), and acquisition
of the UPS and generator, payable as follows:

 

a)            A
portion (up to two dollars ($2.00) per square foot of
Rentable Area, plus applicable taxes) to be used by Landlord for the acquisition of the UPS
and generator;

 

b)            Ten
Dollars ($10.00) per square foot of Rentable Area, plus applicable taxes, payable by Landlord to Tenant, within ten (10) business
days from the Lease being executed by the Tenant in a form acceptable to the Landlord.

 

c)            The
balance of the Leasehold Improvement Allowance shall be paid by Landlord to Tenant upon substantial completion of the construction
of the Leasehold Improvements and delivery of all paid invoices to the Landlord. The Leasehold Improvements shall be completed
by the Tenant, at its sole expense and in a good and workmanlike manner, and shall be approximately as described on the “Feasibility
Plan” drawing attached as Schedule “E”, subject to reasonable modifications by the Tenant and
subject to the Landlord’s prior approval of all plans, which approval shall not be unreasonably withheld or delayed. The
Tenant shall be permitted to select its own contractors, consultants, trades, etc., subject to the Landlord’s prior
reasonable approval. Tenant shall coordinate the construction of the Leasehold Improvements. All work shall conform to relevant
bylaws and regulations. Landlord shall not be entitled to any management, supervisory, administrative or
other fees with respect to the Tenant’s
Leasehold Improvements.

 

d)            The
Tenant shall be responsible for any costs in excess of the Leasehold Improvement Allowance.

 

9.            MINIMUM
RENT FREE PERIOD:

 

The Tenant will not
be required to pay Minimum Rent for the first two (2) months of
the Term namely, November 1, 2015 to December 31,
2015 (the “Minimum Rent Free Period”). The Tenant shall be required
to pay the Tenant’s Proportionate Share of Operating Costs, Taxes and utilities during the Minimum Rent Free Period.

 

    

    4

    

 

10.         SPACE
PLANNING CONSULTANT:

 

Upon the execution of this Lease agreement,
the Landlord will reimburse the Tenant with respect to the services of a space planning consultant
or architect to determine the “Feasibility Plan” layout for the Tenant and the costs related thereto, to a maximum
cost of $0.10 plus applicable taxes per square foot of the Rentable Area of the Leased Premises.

 

    

    

    

 

SCHEDULE
 “E”

TENANT LEASEHOLD IMPROVEMENTS - FEASIBILITY PLANExhibit 10.18

 

 

 

 

January 3,
2019

 

PPF
OFF 100 Cambridge Park Drive, LLC

c/o
Morgan Stanley Real Estate Advisor, Inc.

1585
Broadway, 37th Floor

New
York, New York 10036

Attention:
Jennie Pries Friend

 

VIA
Courier

 

Re:
Trillium Therapeutics USA Inc. and PPF PFF 100 Cambridge Park Drive, LLC Lease Agreement

 

Dear
Ms. Friend,

 

Please
see attached two original copies of the lease agreement. Please sign and return one copy for our records.

 

Thank
you and we look forward to opening our office in Cambridge.

 

Please
call or email me if you have any questions.

 

Yours
sincerely,

 

 

James
Parsons

Chief
Financial Officer

 

     

     

    

 

100 CAMBRIDGEPARK
DRIVE

 

CAMBRIDGE, MASSACHUSETTS

 

LEASE

 

Between

 

PPF OFF 100 CAMBRIDGE
PARK DRIVE, LLC,

a Delaware limited
liability company

 

("LANDLORD")

 

AND

 

TRILLIUM THERAPEUTICS
USA INC.,

a Delaware corporation

 

("TENANT")

 

dated as of

December 10,
2018

 

     

     

    

 

TABLE OF CONTENTS

 

	 	Page
	 	 
	ARTICLE  I Basic Lease Information	I
	ARTICLE 2 Lease Grant	5
	ARTICLE 3 Condition of the Premises	5
	ARTICLE 4 Rent	6
	ARTICLE 5 Compliance with Laws; Use	10
	ARTICLE 6 Services to be Furnished by Landlord	12
	ARTICLE 7 Repairs and Alterations	15
	ARTICLE 8 Entry by Landlord	19
	ARTICLE 9 Assignment and Subletting	20
	ARTICLE 10 Indemnity and Waiver of Claims	26
	ARTICLE 11 Insurance	26
	ARTICLE 12 Subrogation	27
	ARTICLE 13 Casualty Damage	27
	ARTICLE 14 Condemnation	28
	ARTICLE 15 Events of Default	29
	ARTICLE 16 Remedies	30
	ARTICLE 17 Limitation of Liability	32
	ARTICLE 18 End of Lease Term; Holding Over.	32
	ARTICLE 19 Subordination to Mortgages;
    Estoppel Certificates	33
	ARTICLE 20 Notices	35
	ARTICLE 21 No Waiver	35
	ARTICLE 22 Quiet Enjoyment	35
	ARTICLE 23 Excepted and Reserved Rights	36
	ARTICLE 24 Patriot Act	37
	ARTICLE 25 Letter of Credit.	37
	ARTICLE 26 Relocation	40
	ARTICLE 27 Intentionally Omitted	40
	ARTICLE 28 Miscellaneous	40

 

    	 	(i)	 

     

    

 

EXHIBITS

 

	Exhibit A -	Floor Plan of Premises
	Exhibit B -	Form of Commencement Date Agreement 
	Exhibit C - 	Work Letter
	Exhibit D - 	Rules and Regulations 
	Exhibit E - 	Form of Letter of Credit

 

    	 	(ii)	 

     

    

 

LEASE AGREEMENT

 

This Lease Agreement (this "Lease")
is made and entered into as of the 10th day of December, 2018 (the "Effective
Date"), by and between PPF OFF 100 CAMBRIDGE PARK DRIVE, LLC, a Delaware
limited liability company ("Landlord") and TRILLIUM THERAPEUTICS USA INC., a
Delaware corporation ("Tenant").

 

NOW, THEREFORE, in consideration
of the mutual covenants herein contained and $10.00 and other good and valuable consideration, the receipt, sufficiency and delivery
of which is hereby acknowledged, Landlord and Tenant hereby covenant and agree as follows:

 

ARTICLE 1

 

Basic Lease Information

 

Section 1.1     "Building"
shall mean the building and improvements commonly known as 100 CambridgePark Drive in Cambridge, Massachusetts.

 

Section 1.2     "Property'"
shall mean the Building, together with the land on which the Building is located, together with, at the discretion
of Landlord, the parking garages, parking lots, facilities and other improvements, if any, serving the Building and the land on
which the Building is located.

 

Section 1.3     "Other
Buildings": Individually or collectively, the buildings and improvements in Cambridge, Massachusetts commonly
known as 125 CambridgePark Drive, 150 CambridgePark Drive and 200 CambridgePark Drive, respectively.

 

Section 1.4     "Premises"
shall mean the area containing 3,161 rentable square feet located on the fifth (5th)
floor of the Building and shown on the floor plan attached to this Lease as Exhibit A.

 

Section 1.5     "Rentable
Square Footage of the Property" is deemed to be 135,572 rentable square feet.

 

Section 1.6     "Rentable
Square Footage of the Premises" is deemed to be 3,161 rentable square feet.

 

Section 1.7     "Base
Rent":

 

	Period of Time	 	Annual Base
    Rent	 	 	Monthly Base
    Rent	 
	Commencement Date - First (1st) anniversary of Commencement Date	 	$	164,372.00	 	 	$	13,697.67	 
	First (1st) anniversary of Commencement Date -	 	$	169,303.16	 	 	$	14,108.60	 

 

 

    	 	-1-	 

     

    

 

	Period of Time	 	Annual Base
    Rent	 	 	Monthly Base
    Rent	 
	Second (2nd)
    anniversary of Commencement Date	 	 	 	 	 	 	 	 
	Second (2nd)
    anniversary of Commencement Date - Third (3nl) anniversary of Commencement Date	 	$	174,382.25	 	 	$	14,531.85	 
	Third (3rd)
    anniversary of Commencement Date - Fourth (4th) anniversary of Commencement
    Date	 	$	179,613.72	 	 	$	14,967.81	 
	Fourth (4th) anniversary of Commencement Date - Fifth (5th)
    anniversary of Commencement Date	 	$	
                                         I85,002.13	 	 	$	15,416.84	 

 

Section 1.8     "Tenant's
Pro Rata Share": 2.33%.

 

Section 1.9     "Expense
Base Year": Calendar Year 2019.

 

Section 1.10
"Tax Base Year": Fiscal Year 2019, commencing on July I, 2018 and expiring on June 30, 2019.

 

Section 1.11
"Term": The period of time commencing on the Commencement Date and expiring on the Expiration Date.

 

Section 1.12
"Commencement Date": The date on which Landlord tenders possession of the Premises to Tenant with
the Landlord Work Substantially Completed.

 

Section 1.13
"Scheduled Commencement Date": April I, 2019.

 

Section 1.14
"Expiration Date": The date which is the last day of the calendar month in which the day immediately
preceding the fifth (5th) anniversary of the Commencement Date occurs, unless
sooner terminated or extended in accordance with the terms and conditions of this Lease.

 

Section 1.15
"Lease Year": The first Lease Year shall commence on the Commencement Date and shall end on the last
day of the calendar month preceding the month in which the first anniversary of the Commencement Date occurs. Each succeeding
Lease Year shall commence on the day following the end of the preceding Lease Year and shall extend for twelve (12) consecutive
months; provided, however, the last Lease Year shall expire on the Expiration Date.

 

    	 	-2-	 

     

    

 

Section 1.16 "Landlord
Work": The alterations and improvements described as the "Landlord Work" in the Work Letter (the
"Work Letter") attached to this Lease as Exhibit C and incorporated herein by this reference.

 

Section 1.17 "Brokers":
Newmark Knight Frank and Avison Young.

 

Section 1.18 "Permitted
Use": General office purposes, consistent with a first-class office building, and no other purpose or purposes.

 

Section 1.19 "Notice Addresses":

 

All notices to Tenant shall be sent to the following
addresses:

 

Tenant:

 

Prior to the Commencement Date:

 

Trillium Therapeutics Inc.

2488 Dunwin Drive

Mississauga, Ontario, Canada,
L5L I J9

Attention: Dr. Niclas
Stiernholm, CEO

 

Following the Commencement Date:

 

Trillium Therapeutics USA Inc., 

I00 CambridgePark Drive

Cambridge, Massachusetts 02140

Attention: Dr. Yaping
Shou

 

With copies:

 

Trillium Therapeutics Inc.

2488 Dunwin Drive

Mississauga, Ontario, Canada,
L5L IJ9

Attention: Dr. Niclas
Stiernholm, CEO

 

Landlord:

 

All notices to Landlord shall be sent to the following
addresses:

 

PPF OFF 100 Cambridge Park Drive, LLC

c/o Morgan Stanley Real Estate Advisor, Inc.

1585 Broadway, 37th Floor

New York, New York 10036

Attention: Jennie Pries Friend, Managing Director

 

    	 	-3-	 

     

    

 

With copies to:

 

PPF OFF 100 Cambridge Park
Drive, LLC

c/o Longfellow Real Estate
Partners, LLC

260 Franklin Street, Suite 1920

Boston, Massachusetts 02110

Attention: Jamison N. Peschel

 

and

 

Goulston & Storrs
PC

400 Atlantic Avenue

Boston, MA 02110-3333

Attention: Frank E. Litwin, Esq.

 

Section 1.20 "Business
Day(s)": Monday through Friday of each week, exclusive of New Year's Day, Presidents Day, Memorial Day, Independence
Day, Labor Day, Thanksgiving Day, Christmas Day and such other days as may be designated by Landlord from time-to-time as holidays
with respect to the Building. Notwithstanding any contrary language in this Lease, as it relates to computing the time to respond
to any notice, request for approval/disapproval or other submission made under the Lease, such time period shall begin to run
on the Business Day following the date on which such notice is effective under this Lease or, as to requests not in the nature
of notice for approval/disapproval or other submission on the Business Day following the date on which such request or other submission
is received.

 

Section 1.21 "Law(s)":
All applicable laws, statutes, codes, ordinances, orders, rules, regulations, conditions of approval and requirements
of all federal, state, county, municipal and governmental authorities and all administrative or judicial orders or decrees and
all permits, licenses, approvals and other entitlements issued by governmental entities, and rules of common law, relating
to or affecting the Property or the use or operation thereof, whether now existing or hereafter enacted, including, without limitation,
the Americans with Disabilities Act (42 U.S.C. § 12101 et
seq.) and the regulations and guidelines promulgated thereunder, and, the rules and regulations of the Massachusetts Architectural
Access Board (M.G.L. c. 22, § 13A, et seq.; 521 C.M.R. 1.00 et seq.), as the same may be amended, modified, and supplemented
from time-to-time.

 

Section 1.22 "Normal Business Hours":
8:00 A.M. to 6:00 P.M. on Business Days.

 

Section 1.23 "Letter
of Credit Amount": $82,186.02, subject to the provisions of Article 25.

 

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ARTICLE 2

Lease Grant

 

Section 2.1     Lease
Grant.

 

For and with respect to the
Term, Landlord hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. In addition, Tenant
shall have the non-exclusive right in common with others to use such other portions of the Property and the Other Buildings,
that are designated by Landlord from time to time for the common use of tenants and other occupants of the Property,
including, but not limited to, sidewalks, common corridors, elevator foyers, common restrooms, conference facilities, fitness
center/game room, and lobby areas (collectively, the "Common Areas"). Such
use of the Common Areas by Tenant shall be subject to and in accordance with the provisions of this Lease, as well as the
Rules and Regulations (as hereinafter defined). Subject to casualties, to Force Majeure, and to the terms and conditions
of this Lease, throughout the Term of this Lease Landlord shall provide Tenant with access to and use of the Premises, and
the Common Areas, on a 24 hour per day, 7 day per week basis.

 

ARTICLE 3

Condition of the Premises

 

Section 3.1     Condition;
Delivery. Tenant has inspected the Premises and agrees (i) to accept possession of the Premises in the condition
existing on the Commencement Date, with the Landlord Work Substantially Completed (as defined in the Work Letter), in vacant,
broom-clean condition and in all other respects in its "as is," "where is" condition, and (ii) except
for the performance of the Landlord Work, Landlord has no obligation to perform any work, supply any materials, incur any expense
or make any alterations or improvements to prepare the Premises for Tenant's occupancy. All work to be performed by Tenant in
connection with Tenant's initial occupancy of the Premises (collectively, the "Initial Installations")
shall be considered to be "Alterations" and shall be performed in
accordance with the terms and conditions of this Lease, including, without limitation, the provisions of Section 7.3.
Landlord shall be deemed to have tendered possession of the Premises to Tenant upon the delivery of notice by Landlord to Tenant
stating that the Premises are vacant, broom-clean, and in the condition required by this Lease. No failure to tender possession
of the Premises to Tenant on or before any particular date shall affect any other obligations of Tenant hereunder. There shall
be no postponement of the Commencement Date for any delay in the tender of possession to Tenant which results from any Tenant
Delay (as defined in the Work Letter). Tenant's commencement of the Initial Installations shall be conclusive evidence, as against
Tenant, that Landlord has completed all work to be performed by Landlord under this Lease, Tenant has accepted possession of the
Premises in its then current condition and at the time such possession
was taken, the Premises, the Building, and the Property were in a good and satisfactory condition as required by this Lease.

 

Section 3.2     Early
Access. From and after March 8, 2019, or such later time as Landlord determines that the Landlord Work has
sufficiently progressed to the point where permitting Tenant to
enter the Premises will not adversely affect the timely completion of the remaining elements of the Landlord Work, in accordance
with and subject to the terms and conditions of Section 5.1 of the Work Letter, Landlord shall permit Tenant to enter the
Premises for the limited purpose of installing Tenant's telecommunication, electronic, phone and data cabling and related equipment
installed by or for the exclusive benefit of Tenant and located in the Premises or in the walls or above the finished ceiling
of the Premises ("Cabling Work"). Any such early entry shall
be at Tenant's sole risk and expense, and Landlord shall have no liabilities or obligations to Tenant in connection
therewith, including any liability for damage or injury to persons or property in connection therewith. Upon such entry,
notwithstanding that the Commencement Date may not yet have occurred, Tenant shall be bound by and shall comply with all
provisions of this Lease, including, without limitation, the provisions of this Lease regarding the performance of
alterations, improvements and installations in the Premises; provided, however, Tenant will not be obligated to pay Base
Rent, Tenant's Pro Rata Share of the Tax Excess, or Tenant's Pro Rata Share of the Expense Excess prior to the Commencement
Date. Without limitation, all of such work performed by Tenant in the Premises shall be coordinated with any work being
performed by Landlord and in such manner as to maintain harmonious labor relations. In no
event shall any such work by Tenant damage the Building or the Premises or interfere with the timely performance and
completion of the Landlord Work. Such early access shall be on all the terms and conditions of this Lease.

 

    	 	-5-	 

     

    

 

 

ARTICLE 4

Rent

 

Section 4.1     Payments. (a) Tenant
shall pay to Landlord, without any setoff or deduction, except as may be specifically set forth in this Lease, the total
amount of Base Rent and Additional Rent (collectively, the "Rent") due for the Term. "Additional
Rent" shall mean all sums (exclusive of Base Rent) that Tenant is required to pay to Landlord under this Lease.
Tenant shall pay all payments of Base Rent, Tenant's Pro Rata Share of the Tax Excess (as hereinafter defined), and Tenant's
Pro Rata Share of the Expense Excess (as hereinafter defined) in advance on the first (1st) day of each calendar month during
the Term, without notice or demand. All other items of Rent shall be due and payable by Tenant not later than thirty (30)
days after delivery of bills or invoices by Landlord. All payments of Rent shall be by good and sufficient check or by other
means (such as automatic debit or electronic transfer) acceptable to Landlord, in accordance with payment instructions
provided by Landlord to Tenant from time-to-time, and to addresses as may be designated by Landlord from time-to-time.

 

(b)            If Tenant
fails to pay any item or installment of Rent when due, in addition to and without limitation of all other rights and remedies
of Landlord as a result thereof, Tenant shall pay to Landlord, as Additional Rent, (i) a late charge of five percent
(5%) of such past due amount, provided, however, that for the first such occurrence in any twelve-month period Tenant shall
pay such late charge only if the past due amount remains unpaid within five (5) days of the date when due, and
(ii) interest on all delinquent amounts which shall accrue from the date due until paid at the lesser of (x) a per
annum rate of twelve percent (12%) per annum from the date such payment is due until paid, or (y) the highest rate
permitted by applicable Law. If the Term commences on a day
other than the first (1st) day of a calendar month
or terminates on a day other than the last day of a calendar month, the monthly Base Rent, Tenant's Pro Rata Share of the Tax
Excess and Tenant's Pro Rata Share of the Expense Excess for such month shall be prorated based on the number of days in such
calendar month. Landlord's acceptance of less than the amount of Rent then due shall be considered a payment on account of
the earliest Rent then due. No endorsement or statement on a check or letter accompanying a check or payment shall be
considered an accord and satisfaction. Landlord may accept any check or payment without prejudice to the right of Landlord to
recover the balance due or to pursue other available remedies. Tenant's covenant to pay Rent is independent of every other
covenant in this Lease.

 

    	 	-6-	 

     

    

 

(c)            Concurrent
with the execution of this Lease, Tenant has paid one month's Base Rent ("Advance Rent") to Landlord. If
the Commencement Date is on the first day of a month, then the Advance Rent shall be credited towards the first month's
Base Rent payment. If the Commencement Date is not the first day of a month, then on the Commencement
Date Tenant shall pay Base Rent for the period from the Commencement Date through the last day of such month, and the Advance Rent
shall be credited towards Base Rent payable for the next succeeding calendar month.

 

Section 4.2     Expense
Excess and Tax Excess. For and with respect to each calendar year (or portion thereof) during the Term, from and
after the Commencement Date, Tenant shall pay Tenant's Pro Rata Share of the amount (the "Expense Excess"), if
any, by which Expenses (as hereinafter defined) for such calendar year (or portion thereof) exceed Expenses for the Expense
Base Year. For and with respect to each tax fiscal year, which commences on July I and expires on the following
June 30 (each, a "Fiscal Year") during the Term, from and after the Commencement Date, Tenant shall pay
Tenant's Pro Rata Share of the amount, if any, by which Taxes (as hereinafter defined) for each Fiscal Year during the Term
exceed Taxes for the Tax Base Year ("Tax Excess"). Landlord will provide Tenant with its good faith estimate
of the Expense Excess and the Tax Excess prior to the commencement of each calendar year. On or before the first (1st) day of
each month of each calendar year during the Term, Tenant shall pay to Landlord monthly installments equal to one-twelfth
(1/12) of Tenant's Pro Rata Share of Landlord's good faith estimate of the Expense Excess for the respective calendar year
and one-twelfth (1/12) of Tenant's Pro Rata Share of Landlord's good faith estimate of the Tax Excess for the respective
Fiscal Year. If Landlord determines at any time or from time
to time that its good faith estimate of the Expense Excess and/or the Tax Excess was incorrect, then Landlord shall provide
Tenant with a revised estimate thereof. After its receipt of the revised estimate, Tenant's remaining monthly payments for
such calendar year or Fiscal Year shall be based upon the revised estimate provided by Landlord. If Landlord
does not provide Tenant with an estimate of the Expense Excess or of the Tax Excess prior to January I of a calendar
year, Tenant shall continue to pay monthly installments based on the previous year's estimate(s) until Landlord provides
Tenant with the new estimate. Upon delivery of the new estimate, an adjustment shall be made for any month for which Tenant
paid monthly installments based on the previous year's estimate(s). Such adjustment shall be effected by Tenant paying
Landlord the amount of any underpayment within thirty (30) days after receipt of the new estimate, or by Landlord refunding
to Tenant any overpayment within thirty (30) days or, if Landlord so elects, by crediting the overpayment against the next
due future installment( s) of Additional Rent, as applicable. If the
Tax Base Year is more than or less than twelve (12) months, the Tax Base Year shall be adjusted pro-rata so that the Tax Base
Year is determined on a twelve (12) month basis. If any
Fiscal Year after the Tax Base Year is more than or less than twelve (12) months, then such Fiscal Year shall be adjusted
pro-rata so that such Fiscal Year is determined on a twelve (12) month basis for the purposes of calculating the Tax Excess
for such Fiscal Year. Within one hundred fifty (150) days following the end of each calendar year or Fiscal Year, as
applicable, Landlord shall furnish Tenant with a reconciliation statement (each, a "Statement") of the
actual Expenses and Expense Excess and/or the actual Taxes and Tax Excess for the prior calendar year or Fiscal Year, as
applicable. If the amount paid on account of estimated
Expense Excess and/or estimated Tax Excess for the prior calendar year or Fiscal Year, as applicable, is more than the actual
Expense Excess and/or actual Tax Excess, as the case may be, for the prior calendar year or Fiscal Year, as applicable, then
Landlord shall apply any overpayment by Tenant against the installment payment(s) next becoming due on account of the
estimated Expense Excess or Tax Excess, as applicable. If the
amount paid on account of the estimated Expense Excess and/or estimated Tax Excess for the prior calendar year or Fiscal
Year, as applicable, is less than the actual Expense Excess and/or actual Tax Excess, as the case may be, for such prior
year, then Tenant shall pay Landlord, within thirty (30) days after its receipt of the Statement of Expenses and/or Taxes,
the amount of such underpayment.

 

    	 	-7-	 

     

    

 

Section 4.3     Expenses.
 "Expenses" shall mean all costs and expenses incurred in each calendar year in connection with operating,
maintaining, repairing, and managing the Building and/or the Property, including, but not limited to, the following: (a) labor
and labor related costs, including wages, salaries, bonuses, taxes, insurance, uniforms, training, retirement plans, pension plans
and other employee benefits; (b) management fees (whether paid to Landlord or paid to affiliated or unaffiliated property
management companies); (c) the cost of equipping, staffing and operating an on-site and/or off-site management office for
the Building, provided if the management office services one or more other buildings or properties, the shared costs and expenses
of equipping, staffing and operating such management office(s) shall be equitably prorated and apportioned between the Building
and the other buildings or properties; (d) accounting costs; (e) the cost of services; (f) rental and purchase cost
of parts, supplies, tools and equipment; (g) insurance premiums and deductibles; (h) electricity, gas and other utility
costs; (i) the costs and expenses of operating, maintaining, repairing and managing parking facilities serving the Building,
including, without limitation, valet services; (j) the costs
and expenses of transportation services and shuttle bus services provided to tenants and occupants of the Building; and (k) the
amortized cost of capital improvements made to the Building and/or the Property, or capital assets acquired for the Building and/or
the Property which are (a) intended to reduce over the useful life thereof operating expense costs or otherwise improve the
operating efficiency of the Building and/or the Property; or (b) are reasonably necessary for the health and safety for the
occupants of the Building and/or the Property; or (c) are required to comply with any applicable Laws. The cost of such capital
improvements or capital assets shall be amortized by Landlord over the their useful life (as reasonably determined by Landlord
in accordance with customary practice in the real estate industry), and shall include, at Landlord's option, actual or imputed
interest at the Prime Rate plus three percent (3%); provided, however, the actual costs savings resulting from a capital improvement
or capital asset may be included in Expenses to the extent of savings realized in a particular calendar year without regard to
the foregoing amortization requirement. Landlord, by itself or through an affiliate, shall have the right to directly perform,
provide and be compensated for any services provided by Landlord in connection with the Building and/or the Property. If
Landlord incurs Expenses for the Building and/or the Property together with one or more other buildings or properties, whether
pursuant to a reciprocal easement agreement, common area agreement or otherwise, the shared costs and expenses shall be equitably
prorated and apportioned between the Building and/or the Property and such other buildings or properties.

 

    	 	-8-	 

     

    

 

Expenses shall not include
the following: (1) the cost of capital improvements (except for the amortized costs thereof as expressly set forth
above); (2) capital reserves; (3) depreciation; (4) principal or interest payments of mortgage and other
non-operating debts of Landlord; (5) the cost of repairs or other work to the extent Landlord is reimbursed therefor by
insurance or condemnation proceeds; (6) costs in connection with leasing space in the Building, including brokerage
commissions and the costs of improving rentable areas in the Building for other tenants; (7) advertising and promotional
expenditures and costs to prepare tenant space in the Building or to relocate any tenant in the Building; (8) costs
incurred in connection with the sale, financing or refinancing of the Building; (9) fines, interest and penalties
incurred due to the late payment of Taxes or Expenses; (10) organizational expenses associated with the creation and
operation of the entity which constitutes Landlord; (11) legal fees or other expenses incurred in connection with enforcing
leases with tenants in the Building; (12) charges for electricity, water, or other utilities, services or goods for which
another tenant, is obligated to reimburse Landlord; (13) charitable or political contributions; and (14) any costs or
expenses for services or amenities that are provided specifically for the benefit of a particular tenant, are of a nature not
generally provided to multiple tenants in the Building, and for which Landlord is reimbursed by such tenant. If at
any time during a calendar year less than 95% of the rentable area of the Building is occupied, then those Expenses that vary
based upon occupancy (such as cleaning costs) shall be calculated as if 95% of the rentable area of the Building had been
occupied and Landlord had been supplying such services to 95% of the rentable area of the Building.

 

Section 4.4     Taxes.
"'Taxes" shall mean the following: (i) all ad valorem real estate taxes, assessments, sewer and
water rents, and other governmental levies, impositions or charges, whether general, special, ordinary, extraordinary, foreseen
or unforeseen, which may from time to time be assessed, levied or imposed upon all or any part of the Property, (ii) all
business improvement district impositions, charges and fees assessed, imposed or payable with respect to all or any part of the
Property, and (iii) all expenses (including reasonable attorneys' fees and disbursements and experts' and other witnesses'
fees) incurred in seeking abatement of or contesting any of the foregoing (but such expenses will not be included in Base Taxes
if incurred during the Base Tax Year). If Landlord elects to pay
any assessment in annual installments, then (i) such assessment shall be deemed to have been so divided and to be payable
in the maximum number of installments permitted by Law, and (ii) there shall be deemed included in Taxes for each Fiscal
Year the installments of such assessment becoming payable during such Fiscal Year, together with interest payable during such
Fiscal Year on such installments and on all installments thereafter becoming due as provided by law, all as if such assessment
had been so divided. If at any time the methods of taxation prevailing
on the Effective Date shall be altered so that in lieu of or as an addition to the whole or any part of Taxes, there shall be
assessed, levied or imposed (1) a tax, assessment, levy, imposition or charge based on the income or rents received from
the Real Property whether or not wholly or partially as a capital levy or otherwise, (2) a tax, assessment, levy, imposition
or charge measured by or based in whole or in part upon all or any part of the Real Property and imposed upon Landlord, (3) a
license fee measured by the rents, or (4) any other tax, assessment, levy, imposition, charge or fee however described or
imposed, including business improvement district impositions, fees, and charges, then all such taxes, assessments, levies, impositions,
charges or fees or the part thereof so measured or based shall be deemed to be included within Taxes. Taxes shall not include
any income, capital levy, franchise, capital stock, gift, estate or inheritance tax. If
an abatement or reduction in Taxes is obtained for any year of the Term during which Tenant has previously paid Tenant's
Pro Rata Share of any Tax Excess, then Taxes for that year will be retroactively adjusted and Landlord shall provide Tenant with
a credit, if any, based on Tenant's Pro Rata Share of the adjustment or Tenant shall pay Landlord the amount of Tenant's Pro Rata
Share of any such increase in the Tax Excess within thirty (30) days after Tenant's receipt of a statement from Landlord.

 

    	 	-9-	 

     

    

 

Section 4.5     Audit.
Each Statement sent to Tenant shall constitute an account stated between Landlord and Tenant and shall be conclusively
binding upon Tenant unless Tenant (i) pays to Landlord when due the amount set forth in such Statement, without prejudice
to Tenant's right to audit such Statement, and (ii) within sixty (60) days after such Statement is delivered, sends a written
notice to Landlord objecting to such Statement, specifying the reasons for such objection and stating that Tenant will audit the
records concerning the items objected to by Tenant. Tenant and all auditors, representatives, contractors, agents, and other third
parties involved on behalf of Tenant in any review, audit or dispute concerning Expenses or Taxes shall execute and deliver to
Landlord a confidentiality agreement, in form and substance reasonably satisfactory to Landlord, whereby such parties agree not
to disclose to any third party any of the information obtained in connection with such review. Tenant agrees that Tenant will
not employ, in connection with any review, audit or dispute under this Lease, any person or entity who is to be compensated in
whole or in part, on a contingency fee basis. If Tenant satisfies
the foregoing conditions precedent, then Tenant may review or audit the Expenses or Taxes (as applicable) for the subject calendar
year or Fiscal Year, as applicable. If the parties are unable
to resolve any dispute as to the correctness of such Statement within thirty (30) days following the review or audit performed
by Tenant, then either party may refer the issues raised by such review or audit to a nationally recognized public accounting
firm selected by Landlord and reasonably acceptable to Tenant, and the decision of such accountants shall be conclusively binding
upon Landlord and Tenant. If said accountants shall determine
that Tenant shall have made any payment in excess of the amount properly due hereunder, such excess amount shall be refunded to
Tenant by Landlord within thirty (30) days after said accountants shall have rendered their decision and if such accountants shall
determine that Tenant shall have underpaid the amount properly due hereunder such under-payment shall be paid by Tenant to Landlord
within thirty (30) days after said accountants shall have rendered their decision. Tenant shall pay the fees and expenses relating
to such procedure, unless such accountants determine that Landlord overstated Expenses or Taxes by more than five percent (5%)
for such calendar year or Fiscal Year, as applicable, in which case Landlord shall pay the reasonable out-of-pocket fees and expenses
incurred by Tenant. Except as provided in this Section 4.5, Tenant shall have no right whatsoever to dispute by judicial
proceeding or otherwise the accuracy of any Statement.

 

ARTICLE 5

Compliance with Laws; Use

 

Section 5.1     Permitted
Use. The Premises shall be used only for the Permitted Use and for no other use, of any kind, whatsoever. Without
limitation, Tenant shall not use or permit the use of the Premises for any purpose which is illegal, dangerous to persons or property
or which, in Landlord's reasonable opinion, unreasonably disturbs any other tenants of the Building or interferes with the operation
of the Building. From and after the delivery of the Premises to Tenant, Tenant shall cause the Premises to comply with all applicable
Laws. In addition, Tenant shall, at its sole cost and expense, comply with all applicable
Laws regarding the operation of Tenant's business in the Premises and the use, condition, configuration and occupancy of the Premises,
to the extent such obligations arise out of or result from (i) the specific manner and nature of Tenant's use or occupancy
of the Premises, as distinct from general office use, (ii) Alterations made by Tenant, or (iii) a breach by Tenant of
any provisions of this Lease. Without limitation of the foregoing, Tenant shall be solely responsible for procuring and complying
at all times with any and all necessary permits and approvals directly or indirectly relating or incident to the conduct of its
business operations in the Premises. Promptly upon receipt, Tenant shall provide Landlord with copies of any notices it receives
regarding a violation or alleged violation by Tenant of any Laws. Without limitation, Landlord may elect, at any time and from
time to time, to undertake greenhouse gas production monitoring and testing, including, without limitation, testing within the
Premises, provided that forty eight (48) hours' prior written notice thereof is delivered to Tenant. Tenant shall exercise good
faith reasonable efforts to cooperate with all such testing activities.

 

    	 	-10-	 

     

    

 

Section 5.2     Rules and
Regulations. Tenant shall comply with the rules and regulations of the Building attached to this Lease as Exhibit D
as the same may be amended, modified or supplemented by Landlord from time to time, together with such other reasonable
rules and regulations of general applicability adopted by Landlord from time to time (collectively, the "Rules and
Regulations"). Nothing contained in this Lease shall impose upon Landlord any obligation to enforce the Rules and
Regulations or terms, covenants or conditions in any other lease against any other tenant of the Building, and Landlord shall not
be liable to Tenant for violation of the same by any other tenant, its employees, agents, visitors or licensees, provided that
Landlord shall enforce the Rules and Regulations against Tenant in a non-discriminatory fashion, except where differing circumstances
justify different treatments.

 

Section 5.3     Hazardous
Materials. (a) "Hazardous Materials" shall mean any substance
which is or may hereafter be classified as a hazardous material, waste or substance under federal, state or local laws, rules and
regulations, including, without limitation, 42 U.S.C. Section 6901 et seq., 42 U.S.C. Section 9601 et seq., 42 U.S.C.
Section 2601 et seq., 49 U.S.C. Section 1802 et seq. and Massachusetts General Laws, Chapters 21C, 21D and 21E and the
rules and regulations promulgated under any of the foregoing, as such laws, rules and regulations may be amended from
time to time (collectively "Hazardous Materials Laws"). Reference is hereby
made to that certain Notice of Activity and Use Limitation (the "AUL"),
dated as of April 23, 2013, recorded in the Middlesex South District Registry of Deeds on April 25, 2013 in
Book 61671, Page 149. The AUL is incorporated into this Lease by this reference, as if fully and completely set forth herein,
and Tenant shall comply with all of the terms and conditions of the AUL. Landlord represents to Tenant that, as of the Effective
Date, to its actual knowledge, there are no Hazardous Materials on the Property (including the Premises), excepting only such materials
and substances as (i) are stored or used in accordance with all applicable Laws, and (ii) are ordinarily and customarily
used or located in comparable first-class Buildings.

 

(b)            Tenant
shall not, without the prior written consent of Landlord, bring or permit to be brought to or kept at, in or on the Premises any
Hazardous Materials, excepting only in accordance with all applicable Hazardous Materials Laws. Tenant shall provide such further
information concerning any Tenant's Hazardous Materials and/or their use, storage and/or disposal within thirty (30) days of Landlord's
reasonable request concerning the same. With respect to any Hazardous Material brought or permitted to be brought or kept in or
on the Premises in accordance with the foregoing, Tenant shall not permit any such Hazardous Materials to be discharged, to escape,
be released or be disposed in or about the Premises; provided, however, Tenant may use cleaning supplies and materials containing
ordinary and customary Hazardous Materials, as long as (i) such supplies and materials are customarily used in the ordinary
course of usual and customary business office operations in comparable buildings, and (ii) the storage, transportation, usage,
and disposal of all such Hazardous Materials is in compliance with all applicable Laws.

 

    	 	-11-	 

     

    

 

(c)            Tenant
hereby covenants and agrees to indemnify, defend and hold the Landlord and each of the Landlord Related Parties harmless from and
against any and all claims against any of the Landlord or the Landlord Related Parties arising out of contamination of any part
of the Property or other adjacent property, which contamination arises as a result of: (i) the presence of Hazardous Materials
in the Premises, the presence of which is caused by any act or omission of any of the Tenant Parties, or (ii) from any breach
by Tenant of its obligations under this Section 5.3. This indemnification of the Landlord and the Landlord Related Parties
by Tenant includes, without limitation, reasonable costs incurred in connection with any investigation of site conditions or any
cleanup, remedial, removal or restoration work or any other response action required by any federal, state or local governmental
agency or political subdivision because of Hazardous Material present in the soil, soil vapor, or ground water at, on or under,
or any indoor air in, the Building to the extent caused by (i) the acts or omissions of Tenant or the Tenant Parties, or (ii) from
any breach by Tenant, or any Tenant Parties, of Tenant's obligations under this Section 5.3. The obligations and liabilities
of Tenant under this Section 5.3 shall survive the expiration or any earlier termination of this Lease.

 

Section 5.4     Landlord's
Compliance. Landlord shall cause the Common Areas of the Building to comply with all applicable Laws to the extent
that non-compliance (i) would materially impair Tenant's use and occupancy of the Premises for the Permitted Uses; or (ii) would
adversely restrict Tenant's access to the Premises. Notwithstanding the foregoing, Landlord shall have the right to contest in
good faith any alleged violation of applicable Laws, including the right to apply for and obtain a waiver or deferment of compliance,
the right to assert any and all defenses allowed at law or in equity, and the right to appeal any decisions, judgments or rulings
to the fullest extent permitted by law.

 

ARTICLE 6

Services to be Furnished by Landlord

 

Section 6.1     Services.
Landlord shall furnish Tenant with the following services: (a) cold and hot water for use in the base building
bathrooms and cold or tepid water for use in any kitchenette areas in the Premises which have been approved by Landlord; (b) customary
heat and air conditioning in season in Cambridge, Massachusetts during Normal Business Hours; (c) building standard janitorial
service on Business Days, substantially in accordance with the cleaning standards established by Landlord in its reasonable discretion
with respect to the Building from time to time; (d) passenger elevator service; (e) electricity, in accordance with
the terms and conditions set forth in Section 6.2; (f) chilled water for supplemental HVAC equipment installed from
time-to-time in the Premises; (g) building security services consistent with the security services customarily provided by
landlords of first-class buildings in Cambridge, Massachusetts; and (h) such other services as Landlord reasonably determines
from time to time are necessary or appropriate for the Property. Tenant may elect to receive overtime HVAC service during hours
other than during the Normal Business Hours, subject to the payment by Tenant, as Additional Rent, of Landlord's then current
charge for overtime HVAC service and to providing such prior notice requesting overtime HVAC service as may be required by Landlord.
As of the Effective Date, the charge for overtime HVAC is $95.00 per hour (subject to Landlord's right, from time to time, to
increase such charge upon reasonable prior written notice to Tenant). Tenant shall pay, as Additional Rent, the then-applicable
charges for the chilled water provided to the Premises, based on the meter (or meters) previously installed by Landlord to measure
the consumption of chilled water on each floor of the Premises. Tenant shall pay, as Additional Rent, for all utilities furnished
to or used within the Premises, including, without limitation, electricity, water, gas, steam and any other utility usage. Said
charges may be based on Tenant's Pro Rata Share of the costs and expenses of providing such utilities. In addition and without
limitation, Landlord may, at any time, install separate metering for the Premises or for any specific use within the Premises
(including, without limitation, Tenant's information technology equipment) for electricity, water, gas, steam, or any other utility
usage. Said separate metering may be a direct meter, a submeter, or a check meter. Any meter so installed may, at Landlord's option,
be a "smart meter." Tenant shall pay for the consumption shown on the meter plus any fee applicable for reading, maintaining
and/or replacing said meter, either directly to the third-party utility provider in the case of a direct meter or to Landlord
in the case of a submeter or check meter. Upon reasonable request by Landlord, Tenant shall report to Landlord Tenant's usage
as measured by said meter.

 

    	 	-12-	 

     

    

 

Section 6.2     Electricity.
Landlord shall redistribute or furnish electrical service to or for the use of Tenant in the Premises. From and after the Commencement
Date, Tenant shall pay to Landlord, as Additional Rent, an annual charge for electricity consumption in the Premises (the "Tenant
Electricity Charge") at the rate of $2.00 per rentable square foot of the Premises, payable in equal monthly installments,
in advance, on the first day of each calendar month during the Term. The Tenant Electricity Charge shall be subject to adjustment
and change by Landlord from time to time, upon reasonable prior written notice to Tenant, based on changes in the costs and expenses
incurred by Landlord to obtain and provide electricity. The rate to be paid by Tenant for electricity shall include the costs incurred
by Landlord in maintaining or replacing electrical meters or submeters, and any taxes or other charges imposed on the Landlord
in connection with the sale, furnishing or redistribution of electricity. Tenant's use of electrical service shall not exceed,
either in voltage, rated capacity or overall load, the capacity which Landlord reasonably deems to be standard for office tenants
of the Building in similarly sized space. Landlord shall have the right to measure electrical usage by commonly accepted methods,
including the installation of measuring devices such as submeters and check meters. If Landlord determines that the value of the
electrical service supplied to Tenant exceeds the electrical charges as calculated in accordance with this Section 6.2, then
Tenant shall pay to Landlord, as Additional Rent, for the cost of such excess electrical usage and, if applicable, for the cost
of purchasing and installing a separate meter, submeter or check meter to measure Tenant's consumption of electricity.

 

Section 6.3     Service
Interruptions. Landlord reserves the right to suspend or interrupt any service when necessary, by reason of
Force Majeure, accidents or emergencies, or for alterations or improvements to the Property which, in Landlord's reasonable
judgment, is necessary or appropriate until such Force Majeure event, accident or emergency shall cease or such alterations
or improvements are completed, and Landlord shall not be liable for any such suspension or interruption of services. Landlord
shall use reasonable efforts to minimize interference with Tenant's use and occupancy of the Premises as a result of any such
suspension or interruption of service. The exercise of any such right or the occurrence of any such failure by Landlord shall
not constitute an actual or constructive eviction, in whole or in part, or, except as expressly set forth in Section 6.4
below, entitle Tenant to any compensation, abatement or diminution of Rent, relieve Tenant from any of its obligations under
this Lease, or impose any liability upon Landlord or Landlord's Agent by reason of inconvenience to Tenant, or interruption
of Tenant's business, or otherwise. Landlord shall not be liable in any way to Tenant for any failure, defect or interruption
of, or change in the supply, character and/or quantity of electric service furnished to the Premises for any reason except
only to the extent caused by the gross negligence or willful misconduct of Landlord.

 

    	 	-13-	 

     

    

 

Section 6.4     Essential
Service Interruptions. If Tenant is unable despite its good faith commercially
diligent efforts to use the Premises for the ordinary conduct of Tenant's business due solely to an interruption of an Essential
Service (as hereinafter defined) which Landlord is required to provide hereunder, other than as a result of casualty or condemnation
and/or Force Majeure, and such condition continues for a period of longer than seven (7) consecutive Business Days after Tenant
furnishes a notice to Landlord (the "Abatement Notice") identifying the condition
and Essential Service which has been interrupted and stating that Tenant's inability to use the Premises is solely due to such
condition, provided that (i) Tenant does not actually use or occupy the Premises during such seven (7) consecutive Business
Day period, and (ii) such condition has not resulted from the negligence or misconduct of Tenant or any subtenants or occupants
of the Premises, and/or their respective agents, contractors, subcontractors, employees, invitees or licensees, then Rent shall
be abated on a per diem basis for the period (the "Abatement Period") commencing
on the eighth (8th) Business Day after Tenant delivers the Abatement Notice to
Landlord and ending on the earlier of(x) the date Tenant reoccupies the Premises, or (y) the date on which such condition
is substantially remedied. "Essential Service" shall mean the following services,
but only to the extent that Landlord is required to provide such services to Tenant pursuant to the terms of this Lease and if
not provided the absence of such service shall materially and adversely affect the use of the Premises for the ordinary conduct
of Tenant's business: HVAC service; electrical service; passenger elevator service; and water and sewer service. The foregoing
rent abatement shall be the sole and exclusive remedy of Tenant on account of such interruption or lack of service and Landlord
shall have no further liabilities or obligations to Tenant on account thereof.

 

Section 6.5     No
Other Services. Except as otherwise expressly provided in this Article 6, Landlord shall not be required to
furnish any other services to the Premises. The obligations of Landlord which are set forth in this Article 6 shall be subject
to Force Majeure and to the terms and conditions of this Lease, including Articles 13 and 14.

 

Section 6.6     Conservation
Requirements. (a) Notwithstanding the foregoing, the services and utilities to be provided by Landlord under
this Lease, and the obligations and responsibilities of Landlord in connection therewith, shall be subject to such energy, water
or other conservation controls, limitations, or requirements (whether mandatory or voluntary) of general applicability to comparable
office buildings imposed or issued by applicable governmental agencies or authorities, or public utilities or insurance carriers,
including, without limitation, controls, limitations or requirements concerning the permitted range of temperature settings or
imposing limitations or restrictions on the volume of energy consumption. If and to the extent
required to comply with such energy, water or other conservation controls, limitations, or requirements (whether mandatory or
voluntary) of general applicability to comparable office buildings issued by applicable governmental agencies or authorities,
or public utilities or insurance carriers, Landlord shall not be deemed in violation of the terms and conditions of this Lease
for the duration of such controls or requirements and the compliance by Landlord with such controls, limitations, or requirements
shall not be considered an eviction, actual or constructive, of Tenant from the Premises and shall not entitle Tenant to terminate
this Lease or to an abatement or reduction of any rent payable hereunder. Notwithstanding the foregoing, as to any such controls,
limitations, or requirements that are voluntary rather than mandatory, the exculpation afforded by the foregoing clauses shall
not be applicable unless comparable first-class office buildings in Cambridge, Massachusetts have generally instituted similar
controls, limitations, or requirements.

 

    	 	-14-	 

     

    

 

(b)            Landlord
shall provide and install bulbs and tubes for Building standard lighting fixtures within the Premises and replacement tubes for
such lighting, and the cost of such bulbs and tubes, together with the costs for replacement bulbs and tubes in the premises of
other tenants of the Building, shall be included in Expenses; provided, however, (x) the cost of replacement of any specialty
bulbs or tubes installed by Landlord at Tenant's request and the costs of ballasts replaced by Landlord in the Premises shall be
paid by Tenant as Additional Rent, and (y) the cost of replacement of specialty bulbs or tubes of other tenants or ballasts
replaced in other premises shall not be included in Expenses. Notwithstanding the foregoing, Landlord may elect to cease generally
providing replacement of standard bulbs and tubes for tenants of the Building, in which event Tenant shall pay Landlord for such
replacements as it requests as Additional Rent and the cost of replacements for Tenant and other tenants of the Building shall
cease to be included in Expenses.

 

ARTICLE 7

Repairs and Alterations

 

Section 7.1     Tenant's
Repair Obligations. Tenant shall, at its sole cost and expense, promptly perform all maintenance and repairs in and to
the Premises (excepting only such repairs and maintenance that are the obligation of Landlord pursuant to the express provisions
of this Lease), in order to keep the Premises in good condition and repair, reasonable wear and tear and damage by reason of casualty
excepted. Tenant's repair and maintenance obligations shall include, without limitation, maintaining and repairing the following:
(1) floor coverings; (2) interior partitions; (3) doors; (4) the interior side of demising walls; (5) Cabling
Work; (6) any heating, ventilation and air conditioning systems that are located within and/or exclusively serving the Premises,
including, without limitation, supplemental air conditioning units, private showers, kitchens, hot water heaters, plumbing, and
similar facilities serving the Premises exclusively; and (7) Alterations made by or on behalf of Tenant. If
Tenant fails to maintain or repair the Premises and such failure continues for more than fifteen (15) days after notice
from Landlord, then Landlord may elect to perform such maintenance and repairs. In such event,
Tenant shall reimburse Landlord, as Additional Rent, for all reasonable costs and expenses incurred by Landlord within thirty (30)
days after receipt of an invoice therefore.

 

    	 	-15-	 

     

    

 

Section 7.2     Landlord's
Repair Obligations. Landlord shall keep and maintain in good repair and working order the following: (1) the
structural elements and foundation of the Building; (2) the mechanical, electrical, plumbing, sanitary, sprinkler, heating,
ventilation and air conditioning, security, life-safety, elevator and other service systems or facilities of the Building up to
the point of connection of localized distribution to the Premises (collectively, the "Building
Systems"); (3) the Common Areas; (4) the roof of the Building; (5) the exterior windows of the Building;
and (6) the elevators serving the Building.

 

Section 7.3     Alterations.

 

(a)            Tenant
shall not make or perform any alterations, additions or improvements (collectively, "Alterations")
in or to the Premises without first obtaining the prior written consent of Landlord in each instance, which consent
shall not be unreasonably withheld or delayed; provided, however, Landlord's prior consent shall not be required for any Alteration
that satisfies all of the following criteria (a "Cosmetic Alteration"): (1) is
of a cosmetic nature such as painting, wallpapering, hanging pictures, and installing carpeting; (2) is not visible from
the exterior of the Premises or Building; and (3) will not adversely affect the Building Systems, Common Areas or structure
of the Building. Tenant shall give Landlord not less than five (5) Business Days' notice prior to performing any Cosmetic
Alteration, which notice shall contain a description of such Cosmetic Alteration along with such plans and specifications, if
any, prepared in connection therewith. Without limiting the foregoing, all such Cosmetic Alterations shall be subject to all of
the terms and conditions of this Section 7.3. Prior to making any Alterations, Tenant, at its expense, shall (i) excepting
only for Cosmetic Alterations, submit to Landlord for its approval, detailed plans and specifications ("Plans")
for such proposed Alteration, and with respect to any Alteration affecting any Building System, evidence that the proposed
Alteration has been designed by, or reviewed and approved by, Landlord's designated engineer for the affected Building System,
(ii) obtain all permits, approvals and certificates required by any Governmental Authorities for the proposed Alteration,
and furnish copies thereof to Landlord, (iii) furnish to Landlord duplicate original policies or certificates of worker's
compensation insurance (covering all persons to be employed by Tenant, and Tenant's contractors and subcontractors in connection
with such Alteration) and commercial general liability (including property damage coverage) insurance and Builder's Risk coverage,
all in such form, with such companies, for such periods and in such amounts as Landlord may reasonably require, naming Landlord,
Landlord's Agent, any Lessor and any Mortgagee as additional insureds, and (iv) furnish to Landlord reasonably satisfactory
evidence of Tenant's ability to complete and to fully pay for such Alterations.

 

(b)            Tenant
shall obtain all building permits and other approvals required by applicable Laws for all Alterations. In
addition, Tenant shall, as and when required, promptly obtain certificates of approval of such Alterations as and to the
extent required by any governmental authority. Not later than thirty (30) days after issuance of such permits or approvals, Tenant
shall deliver copies thereof to Landlord. In addition,
not later than thirty (30) days after completion of the respective Alteration, Tenant shall deliver "as-built" Plans
for such Alterations prepared on an AutoCAD Computer Assisted Drafting and Design System (or such other system or medium as Landlord
may reasonably require), using such naming conventions as Landlord may reasonably require, and computer media of such record drawings
and specifications in a format acceptable to Landlord.

 

    	 	-16-	 

     

    

 

(c)            All
Alterations shall be performed (a) in a good and workmanlike manner and free from defects, (b) excepting only with regard
to Cosmetic Alterations, substantially in accordance with the Plans approved by Landlord, (c) by contractors, subcontractors,
engineers and vendors approved by Landlord, and (d) in compliance with all Laws, the terms of this Lease and all construction
rules, procedures and regulations adopted from time-to-time by Landlord. All materials and equipment shall be of first quality
and at least equal to the then-applicable standards for the Building adopted from time-to-time by Landlord, and no such materials
or equipment (other than Tenant's Property) shall be subject to any lien or other encumbrance. Upon request, Landlord will provide
Tenant with a list of pre-approved contractors.

 

(d)            Tenant
(at its cost) shall (a) install and maintain occupancy sensors on all overhead light fixtures so that they automatically switch
off when an area is unoccupied, and (b) install and maintain occupancy sensors on all built-in or fixed task lighting fixtures
so that they automatically switch off when an area is unoccupied. Such sensors may be installed with manual overrides for areas
that are customarily occupied, such as individual offices and conference rooms.

 

(e)            Tenant,
at its expense, shall discharge and release any lien, encumbrance, or charge recorded or filed against the Building and/or the
Property in connection with any work performed or claimed to have been performed by or on behalf of Tenant, or materials or services
furnished or claimed to have been furnished to, Tenant, within ten (10) days after Tenant's receipt of notice thereof. Such
discharge shall be affected by discharge whether by payment or filing of a bond in accordance with applicable Laws. If
Tenant fails to do so, Landlord may bond, insure over or otherwise discharge the lien. In such event, Tenant shall reimburse
Landlord, as Additional Rent, on demand, for all costs and expenses incurred by Landlord, including, without limitation, bonding
costs and reasonable attorneys' fees.

 

(f)            Tenant
shall not employ, or permit the employment of, any contractor, mechanic or laborer, or permit any materials to be delivered to
or used in the Premises and/or the Building, if, in Landlord's sole judgment, such employment, delivery or use will interfere or
cause any conflict with other contractors, mechanics or laborers engaged in the construction, maintenance or operation of the Building
and/or the Building by Landlord, Tenant or others. If such interference or conflict occurs,
upon Landlord's request, Tenant shall cause all contractors, mechanics or laborers causing such interference or conflict to leave
the Building immediately.

 

(g)            Tenant
shall reimburse Landlord, within thirty (30) days after delivery of an invoice therefor, for all reasonable third party out-of-pocket
costs actually incurred by Landlord in connection with Alterations performed by or on behalf of Tenant from time-to-time during
the Term of this Lease, including costs incurred in connection with (a) Landlord's review of Plans (including review of requests
for approval thereof) and/or supervision of performance of the Alteration, and (b) the provision of Building personnel during
the performance of any Alteration other than during Normal Business Hours, to operate elevators or otherwise to facilitate Tenant's
Alterations. In addition, if the cost of any Alterations proposed by Tenant exceed $25,000.00, then Tenant shall pay to Landlord
or Landlord's managing agent, a construction supervision fee equal to three percent (3%) of the total project cost in connection
therewith. At Landlord's request, Tenant shall deliver to Landlord reasonable supporting documentation evidencing the hard and
soft costs incurred by Tenant in designing and constructing any Alterations.

 

    	 	-17-	 

     

    

 

(h)            Tenant
shall provide notice to Landlord prior to moving any heavy machinery, heavy equipment, freight, bulky matter or fixtures into or
out of the Building and shall pay to Landlord any reasonable costs actually incurred by Landlord in connection therewith. If
such equipment requires special handling, Tenant agrees (a) to employ only persons holding all necessary licenses to
perform such work, (b) all work performed in connection therewith shall comply with all applicable Laws, and (c) such
work shall be done only during hours designated by Landlord.

 

(i)            The
approval of Plans, or consent by Landlord to the making of any Alterations, shall not constitute Landlord's representation that
such Plans or Alterations comply with any Laws. Landlord shall not be liable to Tenant or any other party in connection with Landlord's
approval of any Plans, or Landlord's consent to Tenant's performing any Alterations. If and
to the extent arising out of or resulting from any Alterations made by or on behalf of Tenant, Landlord is required by an order
or directive of a governmental authority to make any alterations or improvements to any part of the Building and/or the Building
in order to comply with an applicable Requirement, Tenant shall pay, as Additional Rent, all costs and expenses incurred by Landlord
in connection with such alterations or improvements.

 

G)            In
connection with the performance of any Alterations, Tenant (or Tenant's contractor) shall develop and implement an indoor air
quality management plan for the construction and preoccupancy phases of the Building and the Premises (the "Construction
Indoor Air Quality Management Plan"). All Alterations performed by or on behalf of Tenant shall meet or exceed the
requirements set forth in the Construction Indoor Air Quality Management Plan. During any construction, Tenant shall cause
all of its contractors and subcontractors to, at a minimum, satisfy the following requirements: (a) satisfy the
then-applicable standards and requirements outlined by the Sheet Metal and Air Conditioning National Contractors' National
Association (SMACNA) "Indoor Air Quality Guidelines for Occupied Buildings under Construction, 2nd Edition 2007,
ANSI/SMACNA 008-2008" (Chapter 3); (b) in the event air handlers are used during construction, use MERV 8
filtration media at each return air grill as determined by  ASHRAE 52.2-1999; (c) replace all filtration
media prior to occupancy; and (d) protect stored on-site and installed absorptive materials from moisture damage.

 

(k)            In
connection with the performance of any Alterations, Tenant (or Tenant's contractor) shall develop and implement a construction
waste management plan that identifies materials to be diverted from disposal and whether the materials will be sorted on-site or
commingled. Such construction waste management plan must require, at a minimum, that Tenant or Tenant's contractor recycle and/or
salvage at least 75% of construction, demolition and packing debris by volume.

 

(I)            In
connection with the performance of any Alterations, Tenant (or Tenant's contractor) shall use products meeting the following criteria:
(a) adhesives, sealants and sealant primers that do not exceed VOC content limits of South Coast Air Quality Management District
Rule #1168 and aerosol adhesives that do not exceed VOC content limits of Green Seal Standard GC-36; (b) interior paints
and coatings that meet "Topcoat Paints: Green Seal Standard GS-11, Paints," "Anti-Corrosive and Anti-Rust Paints:
Green Seal Standard GS-03, Anti-Corrosive Paints" and "All Other Architectural Coatings, Primers and Undercoats: South
Coast Air Quality Management District Rule 1113, Architectural Coatings;" (c) non-carpet finished flooring that
is FloorScore-certified; (d) carpet that meets the CRl Green Label Plus testing program, is 100% recyclable and contains
at least 50% recycled content; (e) carpet padding that meets the CRI Green Label testing and product requirements, is 100%
recyclable and contains at least 50% recycled content; and (f) carpet adhesive that has less than 50g/L VOC.

 

    	 	-18-	 

     

    

 

Section 7.4     Floor
Load. Tenant shall not place a load upon any floor of the Premises that exceeds the maximum designated floor load. Landlord
reserves the right to reasonably designate the position of all equipment which Tenant wishes to place within the Premises, and
to place limitations on the weight thereof.

 

Section 7.5     Specialty
Alterations; Tenant's Property. "Specialty Alterations" shall mean Alterations which are not standard office
installations such as kitchens (excepting kitchenette and pantry areas), executive bathrooms, raised computer floors, computer
room installations, supplemental HVAC equipment, safe deposit boxes, vaults, libraries or file rooms requiring reinforcement of
floors, internal staircases, slab penetrations, conveyors, dumbwaiters, print rooms and model shops, and other Alterations of a
similar character. Upon the expiration or earlier termination of the Term of this Lease, Tenant shall remove all Specialty Alterations
installed by or on behalf of Tenant. In addition, Tenant shall repair all damage caused by
the installation or removal of any Alterations. If Tenant fails to remove any Specialty Alterations
or to perform such repairs in a timely manner, then Landlord, at Tenant's expense, may remove and dispose of the Specialty Alterations
and/or perform the required repairs. In such event, within thirty (30) days after receipt of an invoice, Tenant shall reimburse
Landlord, as Additional Rent, for the reasonable out-of-pocket costs incurred by Landlord in connection therewith. Without limitation,
Tenant shall remove all trade fixtures, furniture, equipment and other personal property of Tenant ("Tenant's Property")
upon the expiration or earlier termination of the Term of this Lease.

 

ARTICLE S

Entry by
Landlord

 

Section 8.1     Entry.

 

(a)            Landlord
may enter the Premises at any time and from time to time to inspect or show the Premises, to clean and make repairs to the Premises,
and to conduct or facilitate repairs, alterations or additions to the Premises and/or the Building. Except in emergencies or to
provide janitorial and other customary services, Landlord shall provide Tenant with reasonable prior notice of entry into the
Premises, which may be given orally and which Landlord shall endeavor to deliver at least forty eight (48) hours prior to such
entry. Landlord, Landlord's agents and contractors may erect, use and maintain concealed ducts, pipes, and conduits in and through
the Premises provided such use does not cause the usable area of the Premises to be reduced beyond a de minimis amount. Landlord
shall promptly repair any damage to the Premises caused by any work performed pursuant to this Article 8. Landlord, Landlord's
agents and any other party designated by Landlord and their respective agents shall have the right to enter the Premises at all
reasonable times, upon reasonable notice (which notice may be oral and which Landlord shall endeavor to deliver at least forty
eight (48) hours prior to such entry) except in the case of emergency, to examine the Premises, to show the Premises to prospective
purchasers, mortgagees, investors, and/or tenants, and their respective agents and representatives or others, and to perform repairs
or Alterations in or to the Premises or the Building. Tenant shall have the right to have a Tenant representative present during
any such entry by Landlord, provided, however, that the absence of, or Tenant's failure to produce, any such Tenant representative
shall not limit Landlord's rights herein.

 

    	 	-19-	 

     

    

 

(b)            Any
such entry by Landlord shall not constitute constructive eviction or entitle Tenant to an abatement or reduction of Rent or any
other remedy. All parts (except surfaces facing the interior of the Premises) of all walls, windows and exterior doors bounding
the Premises, all balconies, terraces and roofs adjacent to the Premises, all space in or adjacent to the Premises used for shafts,
stacks, stairways, conduits and other mechanical facilities are not part of the Premises, and Landlord shall have the use thereof
and access thereto through the Premises for the purposes of operation, maintenance, alteration and repair of the Building.

 

(c)            Landlord
reserves the right at any time and from time to time to change the name(s), number(s) or designation(s) by which the
Building and/or the Property is (or are) commonly known.

 

ARTICLE 9

Assignment and Subletting

 

Section 9.1     No
Assignment, Sublease. Tenant shall not assign, mortgage, pledge, encumber, or otherwise transfer this Lease, whether
by operation of law or otherwise, and shall not sublet, or permit, or suffer the Premises or any part thereof to be used or occupied
by others (whether for desk space, mailing privileges or otherwise) (collectively or individually, a "Transfer")
without the prior written consent of Landlord in each instance. If, without Landlord's consent, a Transfer of this Lease
occurs, or any part of the Premises is sublet or occupied by anyone other than Tenant, or this Lease is encumbered (by operation
of law or otherwise), then Landlord may collect rent from the assignee, subtenant or occupant, and apply the net amount collected
to the Rent herein reserved. No such collection shall be deemed a waiver of the provisions of this Article 9, an acceptance
of the assignee, subtenant or occupant as tenant, or a release of Tenant from the performance of Tenant's covenants hereunder,
and in all cases Tenant shall remain fully liable for its obligations under this Lease. Landlord's consent to any Transfer shall
not relieve Tenant from the obligation to obtain Landlord's consent to any further Transfer. In
no event shall any permitted subtenant assign or encumber its sublease or further sublet any portion of its sublet space,
or otherwise suffer or permit any portion of the sublet space to be used or occupied by others, without the express prior written
consent of Landlord in each instance. Any attempted Transfer in violation of this Section may be voidable by Landlord. In
no event shall any Transfer, including a Permitted Transfer, release or relieve Tenant from any obligation under this Lease.

 

    	 	-20-	 

     

    

 

Section 9.2     Recapture
Notice. If Tenant desires to assign this Lease or sublet all or any portion
of the Premises, then prior to offering the Premises for rent, or listing the Premises (or any part thereof) with a broker, or
showing the Premises to a prospective assignee or subtenant, Tenant shall give notice ("Tenant's
Assignment/Sublease Notice") thereof to Landlord, which shall be accompanied by (a)  with respect to an assignment
of this Lease, the date Tenant desires the assignment to be effective, and (b) with respect to a sublet of all or a part
of the Premises, a description of the portion of the Premises to be sublet, the proposed commencement date and expiration date
of such sublease and the rent per rentable square foot Tenant will ask for the Premises or such portion of the Premises ("Tenant's
Asking Rate"). Such Tenant's Assignment/Sublease Notice shall be deemed an offer from Tenant to Landlord of the right,
at Landlord's option, (1) to
terminate this Lease with respect to such space as Tenant proposes to sublease (the "Partial Space"), upon the
terms and conditions hereinafter set forth, or (2) if the proposed transaction is an assignment of this Lease or a subletting
of 50% or more of the rentable square footage of the Premises, to terminate this Lease with respect to the entire Premises. Such
option may be exercised by notice (a "Recapture Notice") from Landlord to Tenant within forty-five (45) days
after delivery of Tenant's Assignment/Sublease Notice. If Landlord exercises its option to terminate all or a portion of this
Lease pursuant to the provisions of this Section 9.2, (a) this Lease shall end and expire with respect to all or a portion
of the Premises, as the case may be, on the date that such assignment or sublease was to commence, provided that such date is
in no event earlier than ninety (90) days after the date of the Tenant's Assignment/Sublease Notice unless Landlord agrees to
such earlier date, (b) Rent shall be apportioned, paid or refunded as of such date, (c) upon Landlord's request, Tenant
shall enter into an amendment of this Lease ratifying and confirming such total or partial termination, and setting forth any
appropriate modifications to the terms and conditions of this Lease as a result thereof, and (d) Landlord may elect, in its
discretion, to lease the Premises (or any part thereof) to Tenant's prospective assignee or subtenant. Tenant shall pay all costs
to make the Partial Space a self-contained rental unit and to install any required Building corridors. Without limiting the foregoing,
if Landlord delivers a Recapture Notice, then Tenant may elect, within seven (7) days after delivery of the Recapture Notice,
to withdraw and rescind the proposed sublease or assignment by delivering notice (a "Rescission Notice") thereof
to Landlord, in which event (i) Tenant shall not proceed with the proposed sublease or assignment and this Lease shall remain
in full force and effect, and (ii) the Recapture Notice and the termination or recapture effected thereby shall be null and
void, and of no further force or effect. Time is of the essence of the delivery of the Rescission Notice, and if Tenant does not
timely deliver the Rescission Notice, then the Recapture Notice and the termination or recapture effected thereby shall be and
remain in full force and effect in accordance with its terms.

 

    	 	-21-	 

     

    

 

Section 9.3     Consent
to Assignment/Subletting.

 

(a)            If
Landlord does not exercise Landlord's termination option provided under Section 9.2, then Landlord shall respond to
a request for consent to a proposed sublease or assignment not more than thirty (30) days after delivery to Landlord of the following:
(i) a copy of the proposed assignment agreement or sublease agreement (as applicable), (ii) a complete statement reasonably
detailing the identity of the proposed assignee or subtenant (a "Transferee"), the nature of its business and
its proposed use of the Premises, (iii) current financial information with respect to the Transferee, including its most recent
financial statements, and (iv) such other information Landlord as may reasonably request. Provided that no Event of Default
then exists, Landlord's consent to the proposed assignment or subletting shall not be unreasonably withheld if the following conditions
are satisfied:

 

(i)            in
Landlord's reasonable judgment, the proposed Transferee is engaged in a business or activity, and the Premises will be used in
a manner, which (1) is in keeping with the then standards of the Building, (2) is
for the Permitted Uses, and (3) does not violate any restrictions set forth in this Lease, any mortgage or superior lease
or any negative covenant as to use of the Premises required by any other lease in the Building;

 

(ii)            the
Transferee is reputable with sufficient financial means to perform all of its obligations under this Lease or the sublease, as
the case may be;

 

(iii)            if
Landlord has, or reasonably expects to have within six (6) months thereafter, comparable space available in the Building or
either of the Other Buildings, neither the Transferee nor any person or entity which, directly or indirectly, controls, is controlled
by, or is under common control with, the Transferee is then an occupant of the Building or either of the Other Buildings;

 

(iv)            the
Transferee is not a person or entity (or affiliate of a person or entity) with whom Landlord is then or has been within the prior
six (6) months negotiating in connection with the rental of space in the Building;

 

 (v)             there shall be not more than two (2) subtenants in the Premises;

 

(vi)            the
aggregate consideration to be paid by the Transferee under the terms of the proposed sublease shall not be less than ninety percent
(90%) of the fixed rent at which Landlord is then offering to lease other space in the Building (the "Market Sub-rent");

 

(vii)           Tenant
shall not list the Premises to be sublet or assigned with a broker, agent or other entity or otherwise offer the Premises for subletting
at a rental rate less than the Market Sub-rent;

 

(viii)         the
Transferee shall not be entitled, directly or indirectly, to diplomatic or sovereign immunity, regardless of whether the Transferee
agrees to waive such diplomatic or sovereign immunity, and shall be subject to the service of process in, and the jurisdiction
of the courts of, the Commonwealth of Massachusetts; and

 

 (ix)          the Transferee is not a Prohibited Person (as hereinafter defined).

 

		(b)	With respect to each sublease or assignment proposed by Tenant:

 

(i)             the
form of the proposed assignment or sublease shall be reasonably satisfactory to Landlord;

 

(ii)             no
sublease shall be for a term ending later than one day prior to the Expiration Date; and

 

(iii)            no
Transferee shall take possession of any part of the Premises, until an executed counterpart of such sublease or assignment has
been delivered to Landlord and approved by Landlord as provided in Section 9.3(c).

 

    	 	-22-	 

     

    

 

If
an Event of Default occurs prior to the effective date of such assignment or subletting, then Landlord's consent thereto,
if previously granted, shall be immediately deemed revoked without further notice to Tenant, and if such assignment or subletting
would have been permitted without Landlord's consent pursuant to Section 9.5, such permission shall be void and without force
and effect;

 

(c)            each
sublease shall be subject and subordinate to this Lease and to the matters to which this Lease is or shall be subordinate. Tenant
and each Transferee shall be deemed to have agreed that upon the occurrence and during the continuation of an Event of Default
hereunder, Tenant has hereby assigned to Landlord, and Landlord may, at its option, accept such assignment of, all right, title
and interest of Tenant as sublandlord under such sublease. If this
Lease terminates prior to the Expiration Date, then such sublease shall terminate and expire concurrent therewith; provided, however,
if Landlord elects, in its sole and unfettered discretion, by express written notice to such Transferee, to recognize said sublease,
then notwithstanding the termination of this Lease, the sublease shall remain in effect as a direct lease between Landlord and
the Transferee, and such Transferee shall attorn to Landlord pursuant to the then executory provisions of such sublease, except
that Landlord shall not be (A) liable for any previous act or omission of Tenant under such sublease, (B) subject to
any counterclaim, offset or defense which theretofore accrued to such Transferee against Tenant, (C) bound by any previous
modification of such sublease not consented to by Landlord or by any prepayment of more than one month's rent, (D) bound to
return such Transferee's security deposit, if any, except to the extent Landlord shall receive actual possession of such deposit
and such Transferee shall be entitled to the return of all or any portion of such deposit under the terms of its sublease, or (E) obligated
to make any payment to or on behalf of such Transferee, or to perform any alterations or improvements in the sublet space or the
Building, or in any way to prepare the subleased space for occupancy, beyond Landlord's obligations under this Lease. The provisions
of this Section 9.3(c) shall be self-operative, and no further instrument shall be required to give effect to this provision,
provided that the Transferee shall execute and deliver to Landlord any instruments Landlord may reasonably request to evidence
and confirm such subordination and attornment; and

 

(d)            Tenant
shall, upon demand, reimburse Landlord for all reasonable out-of- pocket expenses incurred by Landlord in connection with each
proposed assignment or sublease, including any investigations as to the acceptability of the proposed assignee or subtenant, reviewing
any plans and specifications for Alterations proposed to be made in connection therewith, the negotiation of any consent documents
for such sublease or assignment, and all legal fees and costs incurred by Landlord in connection therewith.

 

Section 9.4     Profits.
If Tenant enters into any assignment or sublease permitted hereunder or consented
to by Landlord (excepting only assignments or subleases pursuant to Section 9.5), Tenant shall, within sixty (60) days of
Landlord's consent to such assignment or sublease, deliver to Landlord a list of Tenant's reasonable third-party brokerage fees,
legal fees and architectural fees paid or to be paid in connection with such transaction and, in the case of any sublease, any
actual costs incurred by Tenant in separately demising the sublet space (collectively, "Transaction
Costs"), together with a list of all of Tenant's Property to be transferred to such Transferee. The Transaction
Costs shall be amortized, on a straight-line basis, over the term of any sublease. Tenant shall deliver to Landlord evidence of
the payment of such Transaction Costs promptly after the same are paid. In consideration of such assignment or subletting, Tenant
shall pay to Landlord: (a) In the case of an assignment, on the effective date of the assignment, all sums and other consideration
paid to Tenant by the Transferee for or by reason of such assignment (including sums paid for the sale or rental of Tenant's Property,
less the then fair market or rental value thereof, as reasonably determined by Landlord) after first deducting the Transaction
Costs; or (b) In the case of a sublease, fifty percent (50%) of any consideration payable under the sublease to Tenant by
the Transferee which exceeds on a per square foot basis the Base Rent and Additional Rent accruing during the term of the sublease
in respect of the sublet space (together with any sums paid for the sale or rental of Tenant's Property, less the then fair market
or rental value thereof, as reasonably determined by Landlord) after first deducting the monthly amortized amount of Transaction
Costs. The sums payable under this clause shall be paid by Tenant to Landlord monthly as and when paid by the subtenant to Tenant.

 

    	 	-23-	 

     

    

 

Section 9.5     Transfers
of Ownership Interests. (a) If Tenant is a legal entity, the transfer (by one or more transfers), directly
or indirectly, by operation of law or otherwise, of a majority of the membership interests, or the stock or other beneficial ownership
interests in Tenant, or of all or substantially all of the assets of Tenant (collectively "Ownership
Interests") shall be deemed a voluntary assignment of this Lease; provided, however, the provisions of this Article 9
shall not apply to (i) the transfer of Ownership Interests in Tenant if and so long as Tenant is publicly traded on a nationally
recognized stock exchange, or (ii) the transfer of Ownership Interests among the members of Tenant existing as of the Effective
Date. For purposes of this Article 9, the term "Transfers" shall be deemed to include (x) the issuance of new
Ownership Interests which results in a majority of the Ownership Interests in Tenant being held by a person or entity which does
not hold a majority of the Ownership Interests in Tenant on the Effective Date; and (y) except as provided below, the sale
or transfer of all or substantially all of the assets of Tenant in one or more transactions and the merger or consolidation of
Tenant into or with another business entity.

 

(b)            Notwithstanding
the foregoing, the prior consent of Landlord shall not be required with respect to an assignment of this Lease or a sublease to
a business entity (x) into or with which Tenant is merged or consolidated, (y) which succeeds to all or substantially
all of Tenant's assets or interests (partnership, stock, or other), or (z) in connection with a Tenant acquisition, reorganization,
stock-sale, divestiture, spin-off, or other separation of Tenant's business, so long as (i) such merger, consolidation, or
transfer was made for a legitimate independent business purpose and not for the purpose of transferring this Lease, (ii) the
successor to Tenant has either a credit rating or a Net Worth computed in accordance with generally accepted accounting principles
at least equal to the Net Worth of Tenant as of the Effective Date of this Lease, and (iii) proof satisfactory to Landlord
of such Net Worth is delivered to Landlord at least ten (10) days prior to the effective date of any such transaction. Notwithstanding
the foregoing, Tenant shall have no right to assign this Lease or sublease all or any portion of the Premises without Landlord's
consent pursuant to this Section 9.5 if Tenant is not the initial Tenant herein named or a person or entity who acquired
Tenant's interest in this Lease in a transaction approved by Landlord. For purposes of this Lease, the term "Net
Worth" shall mean the excess of all assets over all liabilities, as shown on the balance sheet of Tenant and determined
in accordance with generally accepted accounting principles consistently applied.

 

    	 	-24-	 

     

    

 

 

Section 9.6     Binding
on Tenant; Indemnification of Landlord. Notwithstanding any assignment or subletting or any acceptance of rent by
Landlord from any Transferee, Tenant shall remain fully liable for the payment of all Rent due and for the performance of all the
covenants, terms and conditions contained in this Lease on Tenant's part to be observed and performed, and any default under any
term, covenant or condition of this Lease by any Transferee or anyone claiming under or through any Transferee shall be deemed
to be a default under this Lease by Tenant. Tenant shall indemnify, defend, protect and hold harmless Landlord from and against
any and all Losses resulting from any claims that may be made against Landlord by the Transferee or anyone claiming under or through
any Transferee or by any brokers or other persons or entities claiming a commission or similar compensation in connection with
the proposed assignment or sublease, irrespective of whether Landlord shall give or decline to give its consent to any proposed
assignment or sublease, or if Landlord shall exercise any of its options under this Article 9.

 

Section 9.7     Assumption
of Obligations. No assignment or transfer shall be effective unless and until the Transferee executes, acknowledges
and delivers to Landlord an agreement in form and substance reasonably satisfactory to Landlord whereby the assignee (a) assumes
Tenant's obligations under this Lease and (b) agrees that, notwithstanding such assignment or transfer, the provisions of
Section 9.1 hereof shall be binding upon it in respect of all future assignments and transfers.

 

Section 9.8     Tenant's
Liability. The joint and several liability of Tenant and any successors-in-interest of Tenant and the due performance
of Tenant's obligations under this Lease shall not be discharged, released or impaired by any agreement or stipulation made by
Landlord, or any grantee or assignee of Landlord, extending the time, or modifying any of the terms and provisions of this Lease,
or by any waiver or failure of Landlord, or any grantee or assignee of Landlord, to enforce any of the terms and provisions of
this Lease.

 

Section 9.9     Listings
in Building Directory. The listing of any name other than that of Tenant on the doors of the Premises, the Building
directory or elsewhere shall not vest any right or interest in this Lease or in the Premises, nor be deemed to constitute Landlord's
consent to any assignment or transfer of this Lease or to any sublease of the Premises or to the use or occupancy thereof by others.
Any such listing shall constitute a privilege revocable in Landlord's discretion by notice to Tenant.

 

Section 9.10     Lease
Disaffirmance or Rejection. If at any time this Lease is assigned and thereafter
this Lease is not affirmed or is rejected in any bankruptcy proceeding or any similar proceeding, or upon a termination of this
Lease in connection with any such proceeding, Tenant named herein, upon request of Landlord shall (a) pay to Landlord all
Rent and other charges due and owing by the assignee to Landlord under this Lease to and including the date of such disaffirmance,
rejection or termination, and (b) as "tenant," enter into a new lease of the Premises with Landlord for a term
commencing on the effective date of such disaffirmance, rejection or termination and ending on the Expiration Date, at the same
Rent and upon the then executory terms, covenants and conditions contained in this Lease, except that (i) the rights of Tenant
named herein under the new lease shall be subject to the possessory rights of the assignee under this Lease and the possessory
rights of any persons or entities claiming through or under such assignee or by virtue of any statute or of any order of any court,
(ii) such new lease shall require all defaults existing under this Lease to be cured by Tenant named herein with due diligence,
and (iii) such new lease shall require Tenant named herein to pay all Rent which, had this Lease not been so disaffirmed,
rejected or terminated, would have become due under the provisions of this Lease after the date of such disaffirmance, rejection
or termination with respect to any period prior thereto. If Tenant named herein defaults
in its obligations to enter into such new lease for a period often (10) days after Landlord's request, then, in addition
to all other rights and remedies by reason of default, either at law or in equity, Landlord shall have the same rights and remedies
against Tenant named herein as if it had entered into such new lease and such new lease had thereafter been terminated as of the
commencement date thereof by reason of Tenant's default thereunder.

 

    	 	-25-	 

     

    

 

ARTICLE 10

Indemnity and Waiver of Claims

 

Section 10.1     Waiver
and Release. Tenant hereby waives and releases any and all claims against Landlord and its managers, members,
principals, beneficiaries, partners, officers, directors, employees, Mortgagees (as hereinafter defined), representatives,
and agents (collectively, the "Landlord Related Parties") from any and all liabilities, obligations,
damages, penalties, claims, actions, costs, charges and expenses (collectively, "Claims"), including,
without limitation, all Claims for any injury to or death of persons, damage to property or business loss, in any manner
related to or arising out of or resulting from (a) Force Majeure, (b) acts of third parties, (c) the bursting
or leaking of any tank, water closet, drain or other pipe, (d) the inadequacy or failure of any security services, personnel
or equipment, or (e) any matter not within the reasonable control of Landlord; provided, however, the foregoing waiver
and release shall not include any Claims against Landlord to the extent otherwise provided in M.G.L. Chapter 186,
Section 15.

 

Section 10.2     Indemnification.
Except to the extent otherwise provided in M.G.L. Chapter 186, Section 15, Tenant shall indemnify, defend and hold Landlord
and each of the Landlord Related Parties harmless against and from all liabilities, obligations, damages, penalties, claims, actions,
costs, charges and expenses, including, without limitation, reasonable attorneys' fees and other professional fees (collectively
referred to as "Losses"), which may be imposed upon, incurred by or asserted against Landlord or any of the Landlord
Related Parties by any third party and arising out of or in connection with (i) any damage or injury occurring in the Premises
during the Term, or (ii) any negligent acts or willful misconduct (including violations of Law) of Tenant or any of Tenant's
employees, agents, representatives, officers, contractors or licensees (collectively, the "Tenant Parties").

 

ARTICLE 11

Insurance.

 

Section 11.1     Tenant's
Insurance. Tenant shall obtain and maintain, at its sole cost and expense throughout the Term of this Lease, the
following insurance ("Tenant's Insurance"): (1) Commercial General Liability Insurance applicable to the
Premises and its appurtenances providing coverage, on an occurrence basis, a minimum of $5,000,000 per occurrence and in the
aggregate; (2) All Risk Property Insurance (and business interruption insurance for Rent for a period of not less than
twelve (12) months) including flood and earthquake coverage, written at 100% of replacement cost value and with a replacement
cost endorsement covering all of Tenant's Property and Tenant's improvements to the Premises; (3) Workers' Compensation
Insurance as required by the state in which the Premises is located and in amounts as may be required by applicable statute;
(4) Employers Liability Coverage (including, without limitation, coverage for accidents and disease) of at least
$1,000,000.00 per occurrence and in the aggregate; and (5) umbrella liability coverage for comprehensive general
liability insurance and Employer's Liability Insurance of not less than $5,000,000.00 per occurrence and in the aggregate.
Any company writing any of Tenant's Insurance shall have an A.M. Best rating of not less than A IX. All Commercial
General Liability Insurance policies shall be primary and non-contributory and name Tenant as a named insured and Landlord
(or any successor), Landlord's property manager, and their respective members, principals, beneficiaries, partners, officers,
directors, employees, and agents, and other designees of Landlord as the interest of such designees shall appear, as
additional insureds. All policies of Tenant's Insurance shall contain endorsements that the insurer(s) shall endeavor to
give Landlord and its designees at least thirty (30) days' advance written notice of any change, cancellation, termination or
lapse of insurance. Tenant shall provide Landlord with a certificate of insurance evidencing Tenant's Insurance prior to the
earlier to occur of the Commencement Date or the date Tenant is provided with possession of the Premises for any reason, and
upon renewals at least fifteen (15) days prior to the expiration of the insurance coverage. Except as may be specifically
provided to the contrary, the limits of either party's insurance shall not limit such party's liability under this Lease.

 

    	 	-26-	 

     

    

 

ARTICLE 12

Subrogation

 

Section 12.1     Waiver
of Subrogation. Notwithstanding anything in this Lease to the contrary, Landlord and Tenant shall waive and shall
cause their respective insurance carriers to waive any and all rights of recovery, claim, action or causes of action against the
other and their respective trustees, principals, beneficiaries, partners, officers, directors, agents, and employees, for any loss
or damage that may occur to Landlord or Tenant or any party claiming by, through or under Landlord or Tenant, as the case may be,
with respect to Tenant's Property, the Building, the Premises, any additions or improvements to the Building or Premises, or any
contents thereof, including all rights of recovery, claims, actions or causes of action arising out of the negligence of Landlord
or any Landlord Related Parties or the negligence of Tenant or any Tenant Related Parties, which loss or damage is (or would have
been, had the insurance required by this Lease been carried) covered by insurance.

 

ARTICLE 13

Casualty Damage

 

Section 13.1     Fire
or Casualty. If all or any part of the Premises is damaged by fire or other
casualty, Tenant shall promptly notify Landlord in writing. Notwithstanding the fact that all or a material portion of the Premises
is rendered untenantable as a result of a fire or other casualty, the Rent shall not abate and Tenant shall rely on the proceeds
of its business interruption insurance. In the event of a fire or other casualty, Landlord shall have the right to terminate this
Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction
of the Building shall be required (whether or not the Premises has been damaged) and leases for 80% of the other tenants of the
Building also are terminated; (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form
as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than two (2) years
of the Term remaining as of the date of the fire or other casualty; (4) a Mortgagee requires that the insurance proceeds
be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise
its right to terminate this Lease by notifying Tenant in writing within ninety (90) days after the date of the fire or other casualty.
If Landlord does not terminate this Lease, then
Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Premises (excluding any
Alterations performed by Tenant). However, in no event shall Landlord be required to spend more than the insurance proceeds actually
received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting
in any way from any such fire or other casualty, or from the repair and restoration of the damage. Landlord and Tenant hereby
waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for
damage to or destruction of the Premises shall be those specifically provided in this Lease.

 

    	 	-27-	 

     

    

 

Section 13.2     Repair
and Restoration. If all or any portion
of the Premises shall be made untenantable by fire or other casualty, Landlord shall, with reasonable promptness, cause an architect
or general contractor selected by Landlord to provide Landlord and Tenant with a written estimate of the amount of time required
to substantially complete the repair and restoration of the Premises and make the Premises tenantable again, using customary and
reasonable working methods ("Completion Estimate"). If the Completion Estimate
indicates that the Premises cannot be made tenantable within eighteen (18) months from the date of damage, then regardless of
any other provision contained in this Lease to the contrary, either party shall have the right to terminate this Lease, with such
termination to be effective as of the date on which such damage occurs, by giving written notice to the other of such election
within ten (10) days after receipt of the Completion Estimate. If the Completion Estimate
indicates that the Premises can be made tenantable within eighteen (18) months from the date of damage, but the Premises have
not been made tenantable by the end of such eighteen (18) month period, then Tenant shall have the right to terminate this Lease,
with such termination to be effective as of the date on which such damage occurs, by giving written notice to Landlord of such
election within ten (10) days after the end of such eighteen (18) month period and the Lease shall terminate thirty (30) days
following the end of such eighteen (18) month period, unless within such thirty (30) day period, Landlord makes the Premises tenantable--in
which event Tenant's notice shall be null and void and of no force or effect. Time is of the essence of this Section 13.2.

 

ARTICLE 14

Condemnation

 

If any
material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or
purchase in lieu thereof (a "Taking"), then either party may terminate this Lease. Landlord shall also have
the right to terminate this Lease if there is a Taking of any portion of the Building and/or the Property which would render
the remainder of the Building and/or the Property unsuitable for use as an office building in the reasonable determination of
Landlord, provided that, concurrent therewith, the leases of the tenants (including Tenant) occupying in the aggregate not
less than fifty percent (50%) of the rentable area of the office space in the Building are terminated. Upon any termination
of this Lease pursuant to the provisions of this Article 14, Rent shall be apportioned as of, and shall be paid or
refunded up to and including, the date of such termination. If a
part of the Property shall be so Taken and this Lease is not terminated in accordance with this Article 14, then
Landlord, without being required to spend more than the net amount it receives as a condemnation award and subject to the
requirements of any Mortgage, shall restore that part of the Property not so Taken to a substantially equivalent condition
(with respect to character, quality, appearance and services) to that which existed immediately prior to such Taking, Upon
any Taking, Landlord shall receive the entire award for any such Taking, and Tenant shall have no claim against Landlord or
the condemning authority for the value of any unexpired portion of the Term or Tenant's Alterations; and Tenant hereby
assigns to Landlord all of its right in and to such award. Nothing contained in this Article 14 shall be deemed to
prevent Tenant from making a separate claim against the condemning authority in a separate proceeding for the then value of
any Tenant's included in such Taking and for any moving expenses, provided any such award is in addition to, and does not
result in a reduction of, the award made to Landlord.

 

    	 	-28-	 

     

    

 

If
a temporary Taking of all or any part of the Premises occurs during the Term, then Tenant shall give prompt notice to Landlord
and the Term shall not be reduced or affected in any way and Tenant shall continue to pay all Rent payable by Tenant without reduction
or abatement and to perform all of its other obligations under this Lease, except to the extent prevented from doing so by the
condemning authority, and Tenant shall be entitled to receive any award or payment from the condemning authority for such use,
which shall be received, held and applied by Tenant as a trust fund for payment of the Rent falling due.

 

ARTICLE 15

Events of Default

 

Section 15.1     Events
of Default. Tenant shall be considered to be in default of this Lease upon the occurrence of any of the following (each,
an "Event of Default"):

 

(a)            If
Tenant fails to pay when due any payment of Rent within five (5) days following delivery to Tenant of written notice
that such payment was not received when due; provided however, that Landlord shall not be obligated to deliver such written notice
more than twice in any twelve-month period and upon the third such occurrence in any twelve-month period Tenant shall be in default
if it fails to pay when due any payment of Rent;

 

(b)            If
Tenant shall be in default in performing any of the terms or provisions of this Lease other than the provisions requiring
the payment of Rent, and fails to cure such non-monetary default within thirty (30) days after written notice of such default is
given to Tenant by Landlord, provided however that if such non-monetary default is of such a nature that it cannot through
the exercise of diligent and reasonable efforts be cured within thirty (30) days, then Tenant shall not be in default in such instance
if Tenant promptly commences and diligently pursues the cure of such non-monetary default to completion as soon as possible and
in all events within ninety (90) days after such initial notice; or

 

(c)            If
Tenant files a voluntary petition in bankruptcy or insolvency, or is the subject of an involuntary petition in bankruptcy
which is not dismissed within sixty (60) days after filing thereof, or is adjudicated a bankrupt; or if a permanent receiver is
appointed for Tenant's property and such receiver is not removed within sixty (60) days after appointment thereof, or if, whether
voluntarily or involuntarily, Tenant takes advantage of any debtor relief proceedings under any present or future laws, whereby
the Rent or any part thereof, is, or is proposed to be, reduced or payment thereof deferred; or

 

    	 	-29-	 

     

    

 

(d)            If
Tenant's personal property or effects should be levied upon or attached and such levy or attachment is not satisfied or
dissolved within thirty (30) days after such levy or attachment; or

 

 (e)            If the leasehold estate of Tenant is taken by process or operation of Law.

 

ARTICLE 16

Remedies

 

Section 16.1     Remedies.
Upon the occurrence of any Event of Default, Landlord shall have the right to exercise any or all of its rights and remedies at
Law or in equity, including, without limitation, the following remedies:

 

(a)            Terminate
this Lease by providing notice thereof to Tenant, in which case Tenant shall immediately surrender the Premises to Landlord. If
Tenant fails to surrender the Premises, Landlord, in compliance with applicable Laws, may enter upon and take possession
of the Premises and remove Tenant, Tenant's Property and any party occupying the Premises. Notwithstanding any such termination,
Tenant shall remain liable for all Rent accrued through the date of termination of this Lease or Tenant's right to possession not
theretofore paid. In addition, notwithstanding any such termination, (i) Tenant shall remain liable for all obligations under
this Lease notwithstanding any such termination, including without limitation, the monthly Rent payable hereunder from and after
the date of such termination on the date the same would have been due but for such termination, less any amounts Landlord actually
receives, if any, if the Premises are re-let, net of all Costs of Reletting (as hereinafter defined), and (ii) Tenant shall
pay Landlord, on demand, all past due Rent and other losses and damages Landlord suffers as a result of Tenant's Default and amounts
for which Tenant is liable as indemnitor hereunder, including, without limitation, all Costs of Reletting (defined below) and any
deficiency that may arise from reletting or the failure to relet the Premises. "Costs of
Reletting" shall include all reasonable costs and expenses incurred by Landlord in reletting or attempting to relet
the Premises, including, without limitation, legal fees, brokerage commissions, the cost of alterations and the value of other
concessions or allowances granted to a new tenant. All Rent and other amounts due to Landlord for the period of time after such
termination shall survive any such termination of the Lease. In connection with the foregoing, Landlord may (but shall not be obligated
to) re-let all or any part of the Premises, without notice to Tenant, for a term that may be greater or less than the balance of
what would have been the remaining balance of the Term (but for such termination) and on such conditions (which may include concessions,
free rent and alterations of the Premises) and for such uses as Landlord in its absolute discretion shall determine. Landlord may
collect and receive all rents and other income from the reletting. Landlord shall not be responsible or liable for the failure
to relet all or any part of the Premises or for the failure to collect any Rent from the party to whom the Premises are relet or
any guarantor of the obligations of such party.

 

    	 	-30-	 

     

    

 

(b)            At
any time, in lieu of payment of the monthly Rent after the date of such termination pursuant to the foregoing clause (i), upon
demand Tenant shall pay to Landlord as damages a lump-sum amount equal to the total Rent that Tenant would have been required to
pay for what would have been the remaining balance of the Term (but for such termination), discounted to present value assuming
an annual interest rate at the Federal Reserve Discount Rate for Secondary Credit in effect at the date of calculation, minus the
then present fair rental value of the Premises for the remainder of the Term, similarly discounted, after deducting all anticipated
Costs of Reletting.

 

(c)            The
repossession or re-entering of all or any part of the Premises shall not relieve Tenant of its liabilities and obligations under
the Lease. No right or remedy of Landlord shall be exclusive of any other right or remedy. Each right and remedy shall be cumulative
and in addition to any other right and remedy now or subsequently available to Landlord at Law or in equity. Landlord shall be
entitled to receive interest on any unpaid item of Rent calculated at an annual rate equal to the Prime Rate plus 4%, based on
a three hundred sixty-five (365) day year. For purposes hereof, the "Prime Rate" shall
be the per annum interest rate published in the Wall Street Journal (or any other authoritative business journal selected by Landlord
if the Wall Street Journal ceases to publish such index) publicly announced as its prime or base rate for federally insured banks
in New York, NY. Forbearance by Landlord to enforce one or more remedies shall not constitute a waiver of any default.

 

Section 16.2     Reletting.
After such termination of this Lease and the surrender and yield-up of the Premises by Tenant pursuant to the foregoing provisions,
Landlord will exercise commercially reasonable efforts to relet the Premises after Tenant vacates the Premises; however, the marketing
of the Premises in a manner similar to the manner in which Landlord markets other premises within Landlord's control in the Building
shall be deemed to have satisfied Landlord's obligation to use "reasonable efforts." In
no event shall Landlord be required to (i) solicit or entertain negotiations with any other prospective tenants for
the Premises unless and until Landlord obtains full and complete possession of the Premises, including the final and unappealable
legal right to relet the Premises free of any claim of Tenant, (ii) lease the Premises to a tenant whose proposed use, in
Landlord's reasonable judgment, will be unacceptable, (iii) relet the Premises prior to leasing any other vacant space in
the Building, suitable for the use of the prospective tenant, (iv) lease the Premises for a rental rate less than the current
fair market rent then prevailing for similar space in the Building, or (v) enter into a lease with any proposed tenant that
does not have, in Landlord's reasonable opinion, sufficient financial wherewithal and resources to satisfy its financial obligations
under the prospective lease. Landlord shall be entitled to take into account in connection with any such reletting of the Premises
all relevant factors which would be taken into account by a sophisticated landlord in securing a replacement tenant for the Premises
including the first class quality of the Building, matters of tenant mix, and the financial responsibility of any such replacement
tenant. Landlord, at Landlord's option, may make such alterations, decorations and other physical changes in and to the Premises
as Landlord, in its sole discretion, considers advisable or necessary in connection with such reletting or proposed reletting.
No action or inaction by Landlord in connection with such reletting shall relieve Tenant of any liability under this Lease or otherwise
affecting any such liability. Landlord shall have no other obligation to mitigate the damages for which Tenant is responsible under
this Lease.

 

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ARTICLE 17

Limitation of Liability

 

NOTWITHSTANDING ANYTHING TO THE
CONTRARY CONTAINED IN THIS LEASE, THE LIABILITY OF LANDLORD (AND OF ANY SUCCESSOR LANDLORD) TO TENANT SHALL BE LIMITED TO THE EQUITY
INTEREST OF LANDLORD IN THE PROPERTY. TENANT SHALL LOOK SOLELY TO LANDLORD'S INTEREST IN THE PROPERTY FOR THE RECOVERY OF ANY JUDGMENT
OR AWARD AGAINST LANDLORD. NEITHER LANDLORD NOR ANY LANDLORD RELATED PARTY SHALL BE PERSONALLY LIABLE FOR ANY JUDGMENT OR DEFICIENCY.
WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, IN NO EVENT SHALL LANDLORD OR ANY LANDLORD RELATED PARTIES EVER BE LIABLE
FOR ANY CONSEQUENTIAL OR INCIDENTAL DAMAGES OR ANY LOST PROFITS OF TENANT.

 

ARTICLE 18

End of Lease Term; Holding Over

 

Upon the expiration or other
termination of the Term of this Lease, Tenant shall quit and surrender the Premises to Landlord vacant, broom clean and in good
order and condition, ordinary wear and tear and damage for which Tenant is not responsible under the terms of this Lease excepted,
and Tenant shall remove from the Premises all of Tenant's Property, all Cabling Work, and all Specialty Alterations, and shall
repair any damage to the Premises or the Building arising out of or resulting from such removal. If
Tenant fails to surrender all or any part of the Premises at the expiration or earlier termination of this Lease, any occupancy
of the Premises after such expiration or earlier termination shall be that of a tenancy at sufferance. Tenant's occupancy during
any such holdover period shall be subject to all of the terms and provisions of this Lease; provided, however, Tenant shall pay
to Landlord a holdover charge calculated as follows: (i) for each day during which Tenant holds over in the Premises after
the Expiration Date or earlier termination of this Lease, through and including the day which is thirty (30) days thereafter,
a per diem holdover charge calculated at a rate equal to 150% of the daily Base Rent, Expense Excess, and Tax Excess payable under
this Lease for the last full calendar month of the Term, and (ii) if Tenant holds over in the Premises more than thirty (30)
days after the Expiration Date or earlier termination of this Lease, a per diem holdover charge calculated at a rate equal to
200% of the daily Base Rent, Expense Excess, and Tax Excess payable under this Lease for the last full calendar month of the Term.
No holdover by Tenant or payment by Tenant after the termination of this Lease shall be construed to extend the Term or prevent
Landlord from immediate recovery of possession of the Premises by summary process proceedings or otherwise. In
addition, Tenant shall indemnify, defend and hold harmless Landlord from and against all losses, liabilities, obligations,
damages, costs, and expenses incurred by Landlord arising out of or resulting from Tenant's holdover. No holding-over by Tenant,
nor the payment to Landlord of the amounts specified above, shall operate to extend the Term hereof. Nothing herein contained
shall be deemed to permit Tenant to retain possession of the Premises after the Expiration Date or sooner termination of this
Lease, and no acceptance by Landlord of payments from Tenant after the Expiration Date or sooner termination of this Lease shall
be deemed to be other than on account of the amount to be paid by Tenant in accordance with the provisions of this Article 18.

 

    	 	-32-	 

     

    

 

ARTICLE 19

Subordination to Mortgages; Estoppel
Certificates

 

Section 19.1     Non-Disturbance
Agreement. A "Mortgage" shall mean a mortgage, deed of trust, trust indenture or other financing document which
may now or hereafter encumber or otherwise affect the Property, and/or the Building or any part thereof, and all renewals, extensions,
supplements, amendments, modifications, consolidations and replacements thereof or thereto, substitutions therefor, and advances
made thereunder. A "Mortgagee" shall mean any mortgagee, trustee or other holder of a Mortgage. Landlord hereby
represents that there are no currently existing Mortgages encumbering the Building or the Property. This Lease shall be subject
and subordinate to all Mortgages now or hereafter encumbering the Property and/or the Building and, at the request of any Mortgagee
Tenant shall attorn to such Mortgagee, its successors in interest or any purchaser in a foreclosure sale.

 

Section 19.2     Subordination.
If a Mortgagee, any of its successors in interest, or any purchaser at a foreclosure sale
shall succeed to the rights of Landlord under this Lease, whether through possession or foreclosure action or the delivery of a
new lease or deed, then at the request of the successor landlord and upon such successor landlord's written agreement to accept
Tenant's attornment and to recognize Tenant's interest under this Lease, Tenant shall attorn to and recognize such successor landlord
as Landlord under this Lease. The provisions of this Section 19.2 are and shall be self-operative and require no further instruments
to give effect hereto; provided, however, Tenant shall promptly execute and deliver any instrument that such successor landlord
may reasonably request (i) evidencing such subordination and attornment, (ii) setting forth the terms and conditions
of Tenant's tenancy, and (iii) containing such other terms and conditions as may be required by such Mortgagee, provided such
instrument does not increase the Rent, materially increase Tenant's other obligations or materially and adversely affect Tenant's
rights under this Lease. Upon such attornment this Lease shall continue in full force and effect as a direct lease between such
successor landlord and Tenant upon all of the terms, conditions and covenants set forth in this Lease except that such successor
landlord shall not be:

 

1)            liable
for any act or omission of Landlord (except to the extent such act or omission continues beyond the date when such successor landlord
succeeds to Landlord's interest and Tenant gives notice of such act or omission);

 

2)            subject
to any defense, claim, counterclaim, set-off or offset which Tenant may have against Landlord;

 

3)            bound by any prepayment of
more than one month's Rent to any prior landlord;

 

4)            bound
by any obligation to make any payment to Tenant which was required to be made prior to the time such successor landlord succeeded
to Landlord's interest;

 

5)            bound
by any obligation to perform any work or to make improvements to the Premises except for (x) repairs and maintenance required
to be made by Landlord under this Lease, and (y) repairs to the Premises as a result of damage by fire or other casualty
or a partial condemnation pursuant to the provisions of this Lease, but only to the extent that such repairs can reasonably be
made from the net proceeds of any insurance or condemnation awards, respectively, actually made available to such successor landlord;

 

    	 	-33-	 

     

    

 

6)            bound
by any modification, amendment or renewal of this Lease made without successor landlord's consent;

 

7)            liable
for the repayment of any security deposit or surrender of any letter of credit, unless and until such security deposit actually
is paid or such letter of credit is actually delivered to such successor landlord; or

 

8)            liable
for the payment of any unfunded tenant improvement allowance, refurbishment allowance or similar obligation.

 

Tenant shall,
from time to time and within ten (10) days of request from Landlord, execute and deliver any documents or instruments that
may be reasonably required by any Mortgagee to confirm any subordination.

 

Section 19.3
Mortgage or Superior Lease Defaults. Any Mortgagee may elect that this Lease shall have priority over the Mortgage
and to subordinate its Mortgage to this Lease. Upon notification to Tenant by such Mortgagee, this Lease shall be deemed to have
priority over such Mortgage, regardless of the date of this Lease

 

Section 19.4
Tenant's Termination Right. As long as any Mortgage exists, Tenant shall not seek to terminate this Lease by
reason of any act or omission of Landlord until (a) Tenant shall have given notice of such act or omission to all Mortgagees,
and (b) a reasonable period of time shall have elapsed following the giving of notice of such default and the expiration of
any applicable notice or grace periods (unless such act or omission is not capable of being remedied within a reasonable period
of time), during which period such Mortgagees shall have the right, but not the obligation, to remedy such act or omission and
thereafter diligently proceed to so remedy such act or omission. If any Mortgagee elects to
remedy such act or omission of Landlord, Tenant shall not seek to terminate this Lease so long as such Mortgagee is proceeding
with reasonable diligence to effect such remedy.

 

Section 19.5     Provisions.
The provisions of this Article 19 shall (a) inure to the benefit of Landlord, any future owner of the Building or the
Real Property, Mortgagee and any sublessor thereof, and (b) apply notwithstanding that, as a matter of law, this Lease may
terminate upon the foreclosure of any such Mortgage.

 

Section 19.6     Estoppel
Certificates. Within fifteen (15) days following request from Landlord or any Mortgagee Tenant shall deliver to
Landlord a statement executed and acknowledged by Tenant, in form reasonably satisfactory to Landlord, (a) stating the Commencement
Date and the Expiration Date, and that this Lease is then in full force and effect and has not been modified (or if modified,
setting forth all modifications), (b) setting forth the date to which the Base Rent and any Additional Rent have been paid,
together with the amount of monthly Base Rent and Additional, Rent then payable, (c) stating whether or not, to the best
of Tenant's knowledge, either Tenant and/or Landlord is in default under this Lease, and setting forth the specific nature of
all such defaults, if any, (d) stating the amount of the security deposit, if any, under this Lease, (e) stating whether
there are any subleases or assignments affecting the Premises, (f) stating the address of Tenant to which all notices and
communications under the Lease shall be sent, and (g) responding to any other matters reasonably requested by Landlord or
such Mortgagee. Tenant acknowledges that any statement delivered pursuant to this Section 19.6 may be relied upon by any purchaser
or owner of the Real Property or the Building, or all or any portion of Landlord's interest in the Real Property or the Building,
or by any Mortgagee, or assignee thereof or by any Lessor, or assignee thereof.

 

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ARTICLE 20

Notices

 

All demands, approvals, consents
or notices (each, a "notice") shall be in writing and delivered by hand, or sent by registered or certified mail
with return receipt requested, or sent by overnight or same day courier service, to the party's respective Notice Address(es)
set forth in Article 1. Each notice shall be deemed to have been received on the earlier to occur of actual delivery or the
date on which delivery is refused, or, if Tenant has vacated the Premises or any other Notice Address of Tenant without providing
a new Notice Address, three (3) days after notice is deposited in the U.S. mail or with a courier service in the manner described
above. Either party may, at any time, change its Notice Address (other than to a post office box address) by giving the other
party written notice of the new address.

 

ARTICLE 21

No Waiver

 

The failure of either party to
seek redress for violation of, or to insist upon the strict performance of, any covenant or condition of this Lease, or any of
the Rules and Regulations, shall not be construed as a waiver or relinquishment for the future performance of such obligations
of this Lease or the Rules and Regulations, or of the right to exercise such election but the same shall continue and remain
in full force and effect with respect to any subsequent breach, act or omission. The receipt by Landlord of any Rent payable pursuant
to this Lease or any other sums 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 monthly Rent herein stipulated shall be deemed
to be other than a payment on account of the earliest stipulated Rent, or as Landlord may elect to apply such payment, nor shall
any endorsement or statement on any check or any letter accompanying any check or payment as Rent be deemed an accord and satisfaction,
and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of such Rent or pursue
any other remedy provided in this Lease.

 

ARTICLE 22

Quiet Enjoyment

 

Tenant
shall, and may peacefully have, hold and enjoy the Premises for and with respect to the Term, subject to the terms of this Lease,
provided Tenant timely pays the Rent and timely and fully performs all of its covenants and agreements under this Lease. This
covenant and all other covenants of Landlord shall be binding upon Landlord and its successors only during its or their respective
periods of ownership of the Building, and shall not be a personal covenant of Landlord or the Landlord Related Parties. This covenant
of quiet enjoyment is in lieu of any other covenant of quiet enjoyment, express or implied.

 

    	 	-35-	 

     

    

 

ARTICLE 23

Excepted and Reserved Rights

 

This Lease does not grant any
rights to light or air over or about the Building. Landlord excepts and reserves, and the Premises demised hereby do not include,
the following: (1) roofs, (2) telephone, electrical and janitorial closets, (3) equipment rooms, Building risers
or similar areas that are used by Landlord for the provision of Building services, (4) rights to the land and improvements
below the floor of the Premises, (5) the improvements and air rights above the Premises, (6) the improvements and air
rights outside the demising walls of the Premises, and (7) the areas within the walls or floors or above the dropped ceilings
of the Premises used for the installation of utility lines and other installations. Landlord has the right to change the Building's
name. Landlord also has the right to make such modifications, alterations, additions, expansions, and other changes to the Property
and/or the Building as Landlord from time-to-time deems appropriate, including, including, without limitation, changing the arrangement
or location of entrances or passageways, doors and doorways, corridors, elevators, stairs, toilets or other Common Areas (collectively,
"Restorative Work"), as Landlord deems necessary or desirable, and to take all materials into the Premises (upon
reasonable prior written notice to Tenant, which Landlord shall endeavor to deliver to Tenant at least forty eight (48) hours
prior to such entry) required for the performance of such Restorative Work provided that (a) the level of any Building service
shall not decrease in any material respect from the level required of Landlord in this Lease as a result thereof (other than temporary
changes in the level of such services during the performance of any such Restorative Work), and (b) Tenant's access to the
Premises is not materially impaired. Landlord shall use reasonable efforts to minimize interference with Tenant's use and occupancy
of the Premises during the performance of such Restorative Work. There shall be no Rent abatement or allowance to Tenant for a
diminution of rental value, no actual or constructive eviction of Tenant, in whole or in part, no relief from any of Tenant's
other obligations under this Lease, and no liability on the part of Landlord by reason of inconvenience, annoyance or injury to
business arising from Landlord, Tenant or others performing, or failing to perform, any Restorative Work. In
addition, without limitation, Landlord may, from time to time, elect to construct, maintain and/or operate the Property
and/or the Building or any part thereof in accordance with third-party accreditations, ratings and/or certifications that relate
to sustainability issues, energy efficiency or other comparable goals. Tenant shall cooperate with Landlord's efforts in that
regard at no material cost or expense to Tenant. Without limitation, upon request Tenant shall provide such reasonable, non-proprietary,
non-confidential information as may be reasonably required by Landlord in connection with obtaining or maintaining such accreditations,
ratings and/or certifications. The foregoing provisions shall apply whether Landlord affirmatively seeks an accreditation, rating
or certification and following the issuance of such rating, to the extent necessary to assist Landlord in maintaining such accreditation,
or to operate voluntarily in accordance with such accreditation, rating or certification.

 

    	 	-36-	 

     

    

 

ARTICLE 24

Patriot Act

 

As an inducement to Landlord
to enter into this lease, Tenant hereby represents and warrants that: (i) Tenant is not, nor is it owned or Controlled directly
or indirectly by, any person, group, entity or nation named on any list issued by the Office of Foreign Assets Control of the
United States Department of the Treasury pursuant to Executive Order 13224 or any similar list or any law, order, rule or
regulation or any Executive Order of the President of the United States as a terrorist, "Specially Designated National and
Blocked Person" or other banned or blocked person (any such person, group, entity or nation being hereinafter referred to
as a "Prohibited Person"); (ii) Tenant is not (nor is it owned, Controlled, directly or indirectly, by any
person, group, entity or nation which is) acting directly or indirectly for or on behalf of any Prohibited Person; and (iii) neither
Tenant (nor any person, group, entity or nation which owns or Controls Tenant, directly or indirectly) has conducted or will conduct
business or has engaged or will engage in any transaction or dealing with any Prohibited Person, including without limitation
any assignment of this lease or any subletting or all or any portion of the Premises or the making or receiving of any contribution
or funds, goods or services to or for the benefit of a Prohibited Person. In connection with the foregoing, it is expressly understood
and agreed that (x) any breach by Tenant of the foregoing representations and warranties shall be an Event of Default, and (y) the
representations, warranties and covenants contained in this Article 24 shall be continuing in nature and shall survive the
expiration or earlier termination of this Lease.

 

ARTICLE 25

Letter of Credit

 

Section 25.1     Letter
of Credit. Concurrent with the execution of this Lease, Tenant has delivered to Landlord a Letter of Credit (as hereinafter
defined) in the amount of the Letter of Credit Amount specified in the Basic Lease Information, as security for the faithful performance
and observance by Tenant of the terms, covenants and conditions of this Lease. Tenant covenants and agrees to maintain the Letter
of Credit in the Letter of Credit Amount throughout the Term of this Lease. The Letter of Credit shall be in the form of a clean,
irrevocable, non-documentary and unconditional letter of credit (the "Letter of Credit") issued by and drawable
upon a commercial bank (the "Issuing Bank"), which is satisfactory to Landlord and which satisfies both the Minimum
Rating Agency Threshold (as hereinafter defined) and the Minimum Capital Threshold (as hereinafter defined). The "Minimum
Rating Agency Threshold" shall mean that the Issuing Bank has outstanding unsecured, uninsured and unguaranteed senior
long-term indebtedness that is then rated (without regard to qualification of such rating by symbols such as"+" or"-"
or numerical notation) "Baa" or better by Moody's Investors Service, Inc. and/or "BBB" or better by Standard &
Poor's Rating Services, or a comparable rating by a comparable national rating agency designated by Landlord in its discretion.
The "Minimum Capital Threshold" shall mean that the Issuing Bank has combined capital, surplus and undivided
profits of not less than $2,000,000,000. The Letter of Credit shall (a) name Landlord as beneficiary, (b) have a term
of not less than one year, (c) permit multiple drawings, (d) be fully transferable by Landlord without the payment of
any fees or charges by Landlord, and (e) otherwise be in form and content satisfactory to Landlord. If
upon any transfer of the Letter of Credit, any fees or charges shall be so imposed, then such fees or charges shall be
payable solely by Tenant and the Letter of Credit shall so specify. The Letter of Credit shall provide that it shall be deemed
automatically renewed, without amendment, for consecutive periods of one (1) year each thereafter during the Term. The Letter
of Credit (as extended) shall not expire prior to the date which is sixty (60) days after the last day of the calendar year in
which the Expiration Date (as extended) occurs. If the Issuing Bank does not renew the Letter
of Credit upon the expiration thereof, then the Issuing Bank shall send duplicate notices (the "Non-Renewal
Notices") to Landlord by certified mail, return receipt requested (one of which shall be addressed "Attention,
Chief Legal Officer" and the other of which shall be addressed "Attention, Chief Financial Officer") not less than
sixty (60) days next preceding the then expiration date of the Letter of Credit stating that the Issuing Bank has elected not
to renew the Letter of Credit. The Issuing Bank shall agree with all drawers, endorsers and bona fide holders that drafts drawn
under and in compliance with the terms of the Letter of Credit will be duly honored upon presentation to the Issuing Bank at an
office location in Boston, Massachusetts. The Letter of Credit shall be issued pursuant to, and shall be subject in all respects
to, the Uniform Customs and Practice for Documentary Credits ISP 98, International Chamber of Commerce Practices Publication
No. 590 (1998 Revision).

 

    	 	-37-	 

     

    

 

Section 25.2     Application
of Security. If (a) an Event of Default by
Tenant occurs under this Lease, or (b) Tenant fails to make any installment of Rent as and when due, or (c) Landlord
receives a Non-Renewal Notice, or (d) Tenant files a voluntary petition under any Federal or state bankruptcy or insolvency
code, law or proceeding, then Landlord shall have the right by sight draft to draw, at its election, all or a portion of the proceeds
of the Letter of Credit and thereafter hold, use, apply, or retain the whole or any part of such proceeds, as the case may be,
(x) to the extent required for the payment of any Rent or any other sum as to which Tenant is in default including (i) any
sum which Landlord may expend or may be required to expend by reason of such Event of Default, and/or (ii) any damages to
which Landlord is entitled pursuant to this Lease, whether such damages accrue before or after summary proceedings or other reentry
by Landlord, and/or (y) as a cash security deposit, unless and until, in the case of clause (c) above, Tenant delivers
to Landlord a substitute Letter of Credit which meets the requirements of this Article 25. If
Landlord applies or retains any part of the proceeds of the Letter of Credit, or cash security, then Tenant, upon demand,
shall amend the Letter of Credit or deliver an additional Letter of Credit which satisfies the requirements of this Article 25
in the amount so applied or retained such that Landlord shall have a Letter of Credit (or Letters of Credit) in the Letter of Credit
Amount on hand at all times during the Term. If Tenant shall comply
with all of the terms, covenants and conditions of this Lease, then the Letter of Credit or then remaining balance of the cash
security, as the case may be, shall be returned to Tenant promptly after (x) the Expiration Date, (y) the surrender and
yield-up of possession of the Premises to Landlord in the manner required by this Lease, and (z) the curing of any outstanding
Events of Default under this Lease.

 

Section 25.3
Transfer. The Letter of Credit shall also provide that Landlord, its successors and assigns, may, at any time
and without notice to Tenant and without first obtaining Tenant's consent thereto, transfer (one or more times) all or any portion
of its interest in and to the Letter of Credit to the holder of any mortgage upon the Building or the successor landlord in connection
with a transfer of the Building, from or as a part of the assignment by Landlord of its rights and interests in and to this Lease.
In the event of a transfer of Landlord's interest in the Building, Landlord shall transfer the Letter of Credit, in whole or in
part, to the transferee and thereupon Landlord shall without any further agreement between the parties, be released by Tenant
from all liability therefor. The provisions of this Section 25.3 shall apply to every transfer or assignment of the whole
or any portion of said Letter of Credit to a new landlord. In connection with any such transfer of the Letter of Credit by Landlord,
Tenant shall, at Tenant's sole cost and expense, execute and submit to the Issuing Bank such applications, documents and instruments
as may be necessary to effectuate such transfer, and Tenant shall be responsible for paying the Bank's transfer and processing
fees in connection therewith.

 

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Section 25.4     Maintenance
of Letter of Credit by Tenant. If,
as a result of any drawing by Landlord on the Letter of Credit, the amount of the Letter of Credit shall be less
than the Letter of Credit Amount, Tenant shall, within five (5) days thereafter, provide Landlord with additional letter(s) of
credit in an amount equal to the deficiency, and any such additional letter(s) of credit shall comply with all of the provisions
of this Article 25. Tenant further covenants and warrants that it will neither assign nor encumber the Letter of Credit or
any part thereof and that neither Landlord nor its successors or assigns will be bound by any such assignment, encumbrance, attempted
assignment or attempted encumbrance.

 

Section 25.5     Landlord's
Right to Draw Upon Letter of Credit. The use, application or retention of the Letter of Credit, or any portion thereof,
by Landlord shall not prevent Landlord from exercising any other right or remedy provided by this Lease or by any applicable law,
it being intended that Landlord shall not first be required to proceed against the Letter of Credit, and shall not operate as a
limitation on any recovery to which Landlord may otherwise be entitled. Tenant agrees not to interfere in any way with payment
to Landlord of the proceeds of the Letter of Credit, either prior to or following a "draw" by Landlord of any portion
of the Letter of Credit, regardless of whether any dispute exists between Tenant and Landlord as to Landlord's right to draw upon
the Letter of Credit. No condition or term of this Lease shall be deemed to render the Letter of Credit conditional to justify
the issuer of the Letter of Credit in failing to honor a drawing upon such Letter of Credit in a timely manner. Tenant agrees and
acknowledges that (a) the Letter of Credit constitutes a separate and independent contract between Landlord and the Issuing
Bank, (b) Tenant is not a third party beneficiary of such contract, (c) Tenant has no property interest whatsoever in
the Letter of Credit or the proceeds thereof, and (d) in the event Tenant becomes a debtor under any chapter of the Bankruptcy
Code, neither Tenant, any trustee, nor Tenant's bankruptcy estate shall have any right to restrict or limit Landlord's claim and/or
rights to the Letter of Credit and/or the proceeds thereof by application of Section 502(b)(6) of the U.S. Bankruptcy
Code or otherwise.

 

Section 25.6     Issuing
Bank. If, at
any time or from time to time, Landlord determines that an Issuing Bank (i) no longer satisfies the Minimum Rating Agency
Threshold, (ii) no longer satisfies the Minimum Capital Threshold, (iii) has been seized or closed by the Federal Reserve
Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, or another governmental or regulatory
agency or authority, (iv) has become insolvent, or (v) is unwilling or unable to honor the Letter of Credit or to perform
its obligations to honor a draw upon the Letter of Credit, then within five (5) days after demand, Tenant shall deliver to
Landlord a replacement Letter of Credit, issued by a replacement Issuing Bank which satisfies the Minimum Rating Agency Threshold
and the Minimum Capital Threshold and otherwise satisfies the requirement of this Article 25.

 

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ARTICLE 26

Relocation

 

Landlord shall have the right,
at any time and from time-to-time prior to the date which is twelve (12) months prior to the Expiration Date, upon not less than
one hundred twenty (120) days' prior notice to Tenant (a "Relocation Notice"), to provide and furnish Tenant with
replacement premises elsewhere in the Building or in either of 125 CambridgePark Drive or 150 CambridgePark Drive, with such replacement
premises to be substantially the same size, buildout, and visibility, as determined by Landlord in its reasonable discretion (the
"Substitute Premises"), and to relocate Tenant from the Premises to the Substitute Premises. If
Landlord relocates Tenant to the Substitute Premises, then, notwithstanding the size of the Substitute Premises, the Base
Rent payable with respect to the Substitute Premises shall not exceed the Base Rent payable with respect to the Premises. If
Landlord relocates Tenant to the Substitute Premises, then Landlord shall, at its sole cost and expense, improve the Substitute
Premises in a manner substantially comparable to the Premises immediately preceding such relocation, and on the date specified
on the Relocation Notice Landlord shall, at its sole cost and expense, move the equipment, personal property and personnel of Tenant
to the Substitute Premises and reinstall and reconstruct such improvements, equipment and personal property in the Substitute Premises
in a manner and fashion reasonably comparable to the Premises. Upon the exercise by Landlord of the foregoing relocation right,
this Lease and each of the terms, covenants and conditions hereof shall remain in full force and effect and be applicable to the
Substitute Premises. In such event, effective as of the date specified in the Relocation Notice, Tenant shall vacate and surrender
the original Premises in accordance with the terms and conditions of this Lease, and the Substitute Premises shall thereafter be
deemed to be substituted for the original Premises and Tenant shall have no further rights or interests in or to the original Premises.
After delivery of a Relocation Notice, the provisions of this Article 26 shall be self-operative; however, at either party's
request, Landlord and Tenant shall enter into an amendment of this Lease confirming the relocation of the Premises.

 

ARTICLE 27

Intentionally Omitted

 

ARTICLE 28

Miscellaneous

 

Section 28.1 Choice
of Law. This Lease and the rights and obligations of the parties shall be interpreted, construed and enforced in accordance
with the Laws of the Commonwealth of Massachusetts, without regard to "conflicts of laws" principles. Landlord and Tenant
hereby irrevocably consent to the jurisdiction and proper venue of the state courts of the Commonwealth of Massachusetts. If
any term or provision of this Lease shall to any extent be invalid or unenforceable, the remainder of this Lease shall not
be affected, and each provision of this Lease shall be valid and enforced to the fullest extent permitted by Law. The headings
and titles to the Articles and Sections of this Lease are for convenience only and shall have no effect on the interpretation of
any part of the Lease. All of the Schedules and Exhibits attached hereto are incorporated in and made a part of this Lease.

 

    	 	-40-	 

     

    

 

Section 28.2     Notice
of Lease. This Lease shall not be recorded; provided, however, at request of either party, Landlord and Tenant shall
execute, acknowledge and deliver a notice of lease in recordable form and complying with applicable Massachusetts laws, and reasonably
satisfactory to both Landlord and Tenant. In no event shall such document set forth the rental
or other charges payable by Tenant under this Lease; and any such document shall expressly state that it is executed pursuant to
the provisions contained in this Lease, and is not intended to vary the terms and conditions of this Lease. Within thirty (30)
days after the expiration or earlier termination of the Term, Tenant shall enter into such documentation as is reasonably required
by Landlord to remove the notice of lease of record.

 

Section 28.3     Waiver
of Jury Trial. Landlord and Tenant hereby waive any right to trial by jury in any proceeding, lawsuit, or other
legal action in connection with this Lease.

 

Section 28.4     Force
Majeure. Whenever this Lease requires the taking of an action by Landlord or Tenant, the period of time for the
performance of such action shall be extended by (or, if no time period is specified, the performance of such action shall be forgiven
for) the number of days that the performance is actually delayed due to strikes, acts of God, shortages of labor or materials or
fuel, insurrections, war, civil disturbances and other causes beyond the reasonable control of the performing party ("Force
Majeure"). However, events of Force Majeure shall not extend any period of time for the payment of Rent or other
sums payable by either party, or any period of time for the written exercise of any option or right by either party. For purposes
hereof, financial inability shall not be a cause beyond the reasonable control of any party.

 

Section 28.5     Transfer
by Landlord. Landlord shall have the right to transfer and assign, in
whole or in part, all of its rights and obligations under this Lease and in the Building and/or Property referred to herein, and
upon such transfer Landlord shall be released from any obligations and liabilities arising or accruing from and after such transfer
or assignment, and Tenant agrees to look solely to the successor in interest to Landlord for the performance of such obligations
and liabilities.

 

Section 28.6
Brokerage. Tenant represents to Landlord, and Landlord represents to Tenant, that it has dealt only with the
Brokers in connection with this Lease. Tenant shall indemnify and hold Landlord and the Landlord Related Parties harmless from
all claims of any other brokers or other persons claiming to have represented Tenant in connection with this Lease. Landlord shall
indemnify and hold Tenant and the Tenant Related Parties harmless from all claims of any brokers or other persons claiming to have
represented Landlord in connection with this Lease. Landlord shall pay the commissions of the Brokers earned in connection with
this Lease in accordance with the terms of a separate agreement between the respective brokers and the Landlord.

 

Section 28.7
Tenant Authority. Tenant covenants, warrants and represents that: (1) each individual executing, attesting and/or
delivering this Lease on behalf of Tenant is authorized to do so on behalf of Tenant; (2) this Lease is binding upon Tenant;
and (3) Tenant is duly organized and legally existing in the state of its organization and is qualified to do business in
the state in which the Premises are located. Landlord covenants, warrants and represents that: (1) each individual executing,
attesting and/or delivering this Lease on behalf of Landlord is authorized to do so on behalf of Landlord; and (2) this Lease
is binding upon Landlord. Tenant agrees that during the Term and for a period of one (1) year thereafter, neither Tenant
nor its agents or any other parties acting on behalf of Tenant shall disclose any matters set forth in this Lease or disseminate
or distribute any information concerning the terms, details or conditions hereof to any person, firm or entity without obtaining
the express written consent of Landlord unless such disclosure shall be required by law, regulation or administrative authority.
If there is more than one Tenant, or if Tenant is comprised of more than one party or entity, the obligations imposed upon Tenant
shall be joint and several obligations of all the parties and entities. Notices, payments and agreements given or made by, with
or to any one person or entity shall be deemed to have been given or made by, with and to all of them. Each term and each provision
of this Lease to be performed by the Tenant shall be construed to be both a covenant and a condition.

 

    	 	-41-	 

     

    

 

Section 28.8
Time of the Essence. Time is of the essence with respect to Tenant's exercise of any expansion, renewal or extension
rights granted to Tenant. This Lease shall create only the relationship of landlord and tenant between the parties, and not a partnership,
joint venture or any other relationship. This Lease and the covenants and conditions in this Lease shall inure only to the benefit
of and be binding only upon Landlord and Tenant and their permitted successors and assigns.

 

Section 28.9
Survival. The expiration of the Term, whether by lapse of time or otherwise, shall not relieve either party of
any obligations which accrued prior to or which may by their terms continue to accrue after the expiration or early termination
of this Lease.

 

Section 28.10
Drafts of Lease. Landlord has delivered drafts of this Lease to Tenant for Tenant's review only, and the delivery
of drafts of this Lease shall not constitute an offer to Tenant, an option or the acceptance of an offer. This Lease shall not
be binding upon either party or effective against any party hereto unless and until an original version of this Lease has been
executed and delivered by Landlord.

 

Section 28.11
No Other Agreements. All understandings and agreements previously made between the parties are superseded by
this Lease, and neither party is relying upon any warranty, statement or representation not contained in this Lease. This Lease
may be amended or modified only by a written agreement signed by both Landlord and Tenant.

 

Section 28.12
Financial Statements. Tenant shall provide Landlord with its most recent current audited financial statements
(including balance sheets and income/expense statements), prepared and certified by an independent certified public accountant,
within ninety (90) days after the end of its fiscal year and at such other times as may be requested by Landlord from time-to-time;
provided, however, Landlord shall not request such financial statements more than twice in any twelve (12) month period.

 

Section 28.13
Landlord Defaults. Landlord shall in no event be in breach or default in the performance of any of Landlord's
obligations under this Lease or any warranties or promises hereunder unless Landlord shall have failed to perform such obligations
within thirty (30) days, or such additional time as is reasonably required to correct any such default, after notice by Tenant
to Landlord properly specifying wherein Landlord has failed to perform any such obligation. Without limitation, in no event shall
Tenant have the right to terminate or cancel this Lease or to withhold rent or to set-off any claim or damages against rent as
a result of any default by Landlord or breach by Landlord of its obligations or any warranties or promises hereunder, except in
the case of a wrongful eviction of Tenant from the Premises (constructive or actual) by Landlord continuing after notice to Landlord
thereof and a reasonable opportunity for Landlord to cure the same as set forth above. In
addition, the Tenant shall not assert any right to deduct the cost of repairs or any monetary claim against the Landlord
from Rent thereafter due and payable under this Lease, but shall look solely to the interests of the Landlord in the Property
for satisfaction of any such claim.

 

    	 	-42-	 

     

    

 

Section 28.14 Signage.
The lobby of the Building contains a directory listing the tenants of the Building. Tenant shall be entitled to listings on said
directory. From time to time, upon request, Landlord will modify the directory to reflect such changes in the listings as Tenant
shall request. In addition, Landlord will install
Building-standard directional signage identifying Tenant in the elevator lobby of the floor of the Building on which the Premises
are located. In addition, Tenant shall have the
right to have a sign identifying Tenant installed on the door of the Premises. All aspects of said sign (including the size, location,
design, materials, colors and appearance thereof) shall be subject to the prior review and approval of Landlord in all respects.
Tenant shall, at its sole cost and expense, prepare all plans and specifications relating to said sign, and shall construct said
sign for installation by Landlord. Tenant shall reimburse Landlord, as Additional Rent, for all costs and expenses of installing,
maintaining, repairing, and removing such sign within thirty (30) days after receipt of invoices therefor.

 

Section 28.15 Parking.
During the Term, Landlord will provide or will cause the garage operator to provide six (6) parking passes for use
of unreserved parking spaces located in one or more of the following parking areas (collectively, the "Parking Facilities"):
(i) the structured parking garage located on the Property, (ii) the two structured parking garages serving the Building
and the Other Buildings located on surrounding properties, and/or (iii) the so-called "Red Lot" located behind
the Other Buildings. In addition, upon request
of Tenant and subject to availability, Landlord will provide one (1) additional parking pass for use in the Parking Facilities.
In the event that Tenant surrenders any of the
parking passes during the Term, Tenant's right to receive the surrendered parking passes at a future date shall be subject to
availability. Tenant shall pay, as Additional Rent, a monthly parking charge for such parking passes, which charge shall be at
the prevailing rate established by the Garage operator from time to time with respect to the Garage. As of the date hereof, the
current monthly parking charge is $125.00 per month per parking pass. The parking passes shall be used only for parking duly registered
and operating private passenger motor vehicles owned and operated by Tenant or its employees. The parking passes shall not be
transferable. Landlord shall have the right from time to time to designate the location of parking spaces and to promulgate reasonable
rules and regulations regarding the Parking Facilities and the use thereof. Tenant shall comply with and cause its employees
to comply with all such rules and regulations as well as all reasonable additions and amendments thereto. Except to the extent
otherwise provided in M.G.L. Chapter 186, Section 15, neither the garage operator nor Landlord shall be liable for any loss,
injury or damage to persons using the garage or motor vehicles or other property therein, and, to the fullest extent permitted
by law, the use of the garage shall be at the sole risk of Tenant and its employees.

 

    	 	-43-	 

     

    

 

Section 28.16 No Partnership.
No provision contained in this Lease shall be considered or construed to create a partnership or joint venture between Landlord
and Tenant, or to create any other relationship between the parties, other than that of landlord and tenant.

 

[Signatures on next page]

 

    	 	-44-	 

     

    

 

	Landlord and Tenant have executed this Lease as of the day and year first above written.
	 
	LANDLORD:
	 
	
        PPF OFF 1OO CAMBRIDGE PARK DRIVE, LLC,

        a Delaware limited liability company

	 	 
	By:	PPF OFF Cambridge Park Holdings, LLC, 

a Delaware limited liability company,
	 	its member
	 	 
	 	By:	PPF OFF, LLC,
	 	 	a Delaware limited liability company, 

its member
	 	 	 
	 	 	By:	PPF OP, LP,
	 	 	 	a Delaware limited partnership, 

its sole member
	 	 	 	 
	 	 	 	By:	PPF OPGP, LLC,
	 	 	 	 	a Delaware limited liability company, 

its general partner
	 	 	 	 	 
	 	 	 	 	By:	Prime Property Fund, LLC,
	 	 	 	 	 	a Delaware limited liability company, 

its sole member
	 	 	 	 	 	 
	 	 	 	 	 	By:	Morgan Stanley Real Estate Advisor, Inc., 

a Delaware corporation,
	 	 	 	 	 	 	its Investment Adviser
	 	 	 	 	 	 	 
	 	 	 	 	 	 	By:	/s/ Jennie Pries Friend	
	 	 	 	 	 	 	Name:	Jennie Pries Friend
	 	 	 	 	 	 	Title: 	Managing Director

 

	TENANT:
	 
	TRILLIUM THERAPEUTICS USA INC.,
	a Delaware corporation
	 
	By:	/s/ James Parsons	
	Name:	James Parsons
	Title:	Treasurer

 

    

     

    

 

 

EXHIBIT A

 

FLOOR PLAN OF PREMISES

 

 

    	 	A-45	 

     

    

 

EXHIBIT B

 

FORM OF COMMENCEMENT DATE LETTER

 

Date:

 

Tenant:

 

Address:

 

	 	Re:	Commencement Letter with respect to that certain Lease dated as of ____________________ by and between  ____________________, as Landlord, and ____________________, as Tenant, for _____________ square feet of Rentable Area on the _____________ floor of the Building located at  __________________________ 

 

Dear: _______________________

 

In accordance with the terms
and conditions of the above referenced Lease, Tenant accepts possession of the Premises and agrees:

 

		A.	The Commencement Date of the Lease is _ _ _ _ _ _ _ _ _ _ _ _ 

 

		B.	The Expiration
Date of the Lease is____________________________

 

Please acknowledge your acceptance
of possession and agreement to the terms set forth above by signing all 3 counterparts of this Commencement Letter in the space
provided and returning 2 fully executed counterparts to my attention.

 

	 	 	 	Sincerely,
	 	 	 	 
	 	 	 	 
	 	 	 	Property Manager
	Agreed and Accepted:	 	 
	 	 	 	 
	Tenant:	 	 	 

 

	By:	 	 
	 	Name:	 
	 	Title:	 
	 	Date:	 

 

    	 	B-1	 

     

    

 

EXHIBIT C

 

WORK LETTER

 

This Work Letter sets forth the terms and
conditions relating to the construction of the initial tenant improvements in the Premises. This Work Letter is essentially organized
chronologically and addresses the issues of the construction of the Premises, in sequence, as such issues will arise during the
actual construction of the Premises. All references in this Work Letter to Articles or Sections of "this Lease" shall
mean the relevant portion of the Lease to which this Work Letter is attached as Exhibit C and of which this Work Letter forms
a part, and all references in this Work Letter to Sections of "this Work Letter" shall mean the relevant portion of
this Work Letter.

 

 1.          LANDLORD WORK AND MAXIMUM ALLOWANCE AMOUNT

 

Landlord shall provide Tenant
with a turnkey construction of the Premises, which shall include the construction of all alterations expressly and specifically
set forth on the Construction Documents (collectively, the "Landlord Work") at Landlord's cost and expense; provided,
however, in no event shall Landlord be obligated to incur more than $126,440.00 (the "Maximum Allowance Amount")
arising out of or in connection with the performance of the Landlord Work, subject to the payment by Tenant of any applicable Over-Allowance
Amount (as hereinafter defined). The Landlord Work shall be performed in a first-class, workmanlike manner, in accordance with
all applicable Laws. Notwithstanding the foregoing, the costs for and performance of the installation of telecommunication, phone
and data cabling and related equipment that is installed by or for the exclusive benefit of Tenant and located in the Premises
or in the walls or above the finished ceiling of the Premises shall be paid for and performed by Tenant as part of the Initial
Installations and shall not constitute part of the Landlord Work.

 

 2.          CONSTRUCTION DOCUMENTS

 

2.1         Selection
of Architect. Landlord shall cause Landlord's general contractor (the "Contractor") to retain LLM Design (collectively,
the "Architect") as a subcontractor to prepare the Construction Documents, as that term is defined in Section 2.3,
for the Landlord Work, together with the consulting engineers selected by the Architect and reasonably approved by Landlord. Landlord
may cause the Contractor to retain another Architect or Architects from time to time, provided, however, that any such other Architects
shall be subject to Tenant's reasonable approval. All Construction Documents shall comply with the drawing format and specifications
as determined by Landlord, and shall be subject to Landlord's and Tenant's approval. Tenant may hire an architectural firm reasonably
approved by Landlord to conduct a peer review, and the fees associated with this peer review shall be paid solely by Tenant.

 

2.2         Final
Space Plan. Tenant has approved the preliminary space plan prepared by the Architect, on behalf of the Contractor,
attached as Attachment 1 hereto (the "Fit Plan"). Landlord will cause the Contractor to have the
Architect prepare a more detailed space plan (the "Space Plan") for Tenant for the Premises, which Space
Plan shall be reasonably consistent with the Fit Plan, the Architect will deliver the Space Plan to Landlord and Tenant for
their approval. Landlord and Tenant shall review and provide any comments and requested changes to the Space Plan within five
(5) Business Days of receipt thereof (and if Tenant shall fail to object thereto within such five (5) Business Day
period, then the Space Plan shall be deemed approved by Tenant). In the event that Tenant or Landlord have any comments or
requested changes to the Space Plan, Landlord shall use reasonable efforts to cause the Architect to prepare and circulate a
modified Space Plan within five (5) Business Days of Architect's receipt of any requested changes from Tenant or
Landlord. Such process of submittal and response within the time frames specified in the preceding sentence shall continue
until each of Landlord and Tenant gives written approval to the Space Plan, with the understanding that the Final Space Plan
(as defined below) shall be approved no later than the date set forth for such approval on Attachment 
2. Once Landlord and Tenant approve the Space Plan, the Space Plan shall be considered final (the "Final Space
Plan"). Landlord will be responsible for the architectural fees for preparing the Initial Space Plan, and two
(2) modifications of the Initial Space Plan.

 

    	 	C-1	 

     

    

 

2.3         Construction
Documents. On or before the date set forth in Attachment 2, Landlord shall use commercially reasonable efforts to cause
the Contractor to cause the Architect to prepare draft construction documents consistent with the Final Space Plan which shall
be submitted to Landlord and Tenant for their approval. Landlord and Tenant shall review and provide any comments or requested
changes to the draft construction documents within five (5) Business Days of receipt thereof(and if Tenant shall fail to object
thereto within such five (5) Business Day period, then the draft construction documents shall be deemed approved by Tenant),
and the Landlord shall use reasonable efforts to cause the Architect to prepare and circulate modified draft construction documents
within five (5) Business Days of its receipt of any requested changes from Tenant or Landlord. In no event may either Tenant
or Landlord require any changes to the draft construction documents that are inconsistent with the Final Space Plan. Such process
of submittal and response within the time frames specified in the preceding sentence shall continue until each of Landlord and
Tenant gives written approval to such draft construction documents, and the draft construction documents shall be considered final
once approved by the Landlord and the Tenant, with the understanding that the Construction Documents shall be approved no later
than the date set forth for such approval on Attachment 2. Once Landlord and Tenant approve the draft construction documents,
the draft construction documents shall be considered final construction documents (the "Construction Documents").
The Construction Documents shall comply with all Applicable Laws existing on the date of this Work Letter and which may be enacted
prior to approval of Construction Documents.

 

2.4         Tenant
Changes. Subject to the provisions of Section 3.4 of this Work Letter, Tenant may, from time to time, by written order
to Landlord, on a form reasonably specified by Landlord, request a change in the Landlord Work shown on the Construction Documents
("Tenant Change"), which approval shall not be unreasonably withheld or conditioned, and shall be granted or
denied within five (5) Business Days after delivery of such Tenant Change to Landlord. The Over-Allowance Amount (as defined
below) shall be adjusted for any Tenant Change as further contemplated by Section 3.4, below. Landlord has no obligation
to approve or perform any Tenant Change not shown on the Construction Documents if, in Landlord's reasonable judgment, such Tenant
Change (i) would delay completion of the Landlord Work beyond the Substantial Completion Date set forth on Attachment
2; (ii) would materially increase the cost of performing the Landlord Work or any other work in the Building, unless
in each case Tenant agrees to pay such costs based on Landlord's Change Estimate Notice (as defined below), (iii) are incompatible
with the design, quality, equipment or systems of the Building or otherwise require a change to the existing Building systems
or structure, each in a manner that would not otherwise be required in connection with the improvements contemplated by the Fit
Plan, (iv) is not consistent the first class nature of the Building, or (v) otherwise do not comply with the provisions
of the Lease.

 

    	 	C-2	 

     

    

 

2.5         Permits.
The Construction Documents as approved (or deemed approved) pursuant to Section 2.3 shall be the "Approved Working
Drawings". Following the approval or deemed approval of the Cost Proposal (as defined below) Landlord shall promptly submit,
or cause to be submitted, the Approved Working Drawings to the appropriate municipal authorities for all applicable building permits
necessary to allow the Contractor to commence and fully complete the construction of the Landlord Work (the "Permits").

 

2.6         Time
Deadlines. The applicable dates for approval of items, plans and drawings as described in this Section 2, Section 3,
below, and in this Work Letter are set forth and further elaborated upon in Attachment 2 (the "Time Deadlines"),
attached hereto.

 

 3.          CONTRACTOR AND COSTS

 

3.1         Contractor.
Landlord shall independently retain Contractor to construct the Landlord Work, in accordance with the applicable Approved Working
Drawings and the applicable Cost Proposal. The Landlord shall manage and oversee the Contractor in its performance of the Landlord
Work. Tenant acknowledges that Chapman Construction is approved as the initial Contractor.

 

3.2         Cost
Proposal. After the Approved Working Drawings are approved by Landlord and Tenant, Landlord shall provide Tenant with a cost
proposal (or cost proposals) in accordance with the Approved Working Drawings, which cost proposal(s) shall include, as nearly
as possible, the cost of all Landlord Work to be incurred by Tenant in connection with the design and construction of the Landlord
Work and shall include a so-called guaranteed maximum price proposal from Landlord's Contractor (collectively, the "Cost
Proposal"), which Cost Proposal shall include, among other things, a construction oversight and administration fee payable
to the Landlord's property manager of three percent (3%) of the project costs, the Contractor's fee, general conditions, and a
reasonable contingency. The Cost Proposal may include early trade release packages for long lead time matters such as mechanical
equipment. In connection with the Cost Proposal,
Landlord shall cause the Contractor to solicit at least three bids from each subcontractor trade for which the total cost is expected
to exceed $10,000.00. Tenant shall have the right to propose one subcontractor to be included in the bidding for each trade, subject
to Landlord's reasonable approval. Landlord will consult with Tenant prior to approving the subcontractors to whom it will be
bid and Tenant may review bid packages at Tenant's request. In
the case of each bid request, Landlord will accept the lowest responsible bid, unless Landlord and Tenant reasonably determine
otherwise. Tenant shall approve and deliver the Cost Proposal to Landlord within five (5) Business Days of the receipt of
the same (and if Tenant fails to comment on the Cost Proposal within such five (5) Business Day period then Tenant shall
be deemed to have approved the Cost Proposal), provided, however, Tenant shall have the right to request Tenant Changes to the
Approved Working Drawings within such five (5) Business Days,\ following its receipt of the Cost Proposal for the purpose
of value engineering (in which event the Landlord will cause the Contractor to provide a new Cost Proposal to Landlord and Tenant
following its receipt and approval of a modified drawing showing such Tenant Change (such approval not to be unreasonably withheld,
conditioned or delayed)). Upon Tenant's approval, or deemed approval, of a Cost Proposal by Landlord, Landlord shall be released
by Tenant to cause the Contractor to purchase the items set forth in the Cost Proposal and to commence the performance of the
Landlord Work. The date on which Tenant approves or is deemed to approve the Cost Proposal shall be known hereafter as the "Cost
Proposal Delivery Date".

 

    	 	C-3	 

     

    

 

3.3         Over-Allowance
Amount. On the Cost Proposal Delivery Date, Tenant shall deliver to Landlord cash in an amount, if any, equal to 50% of the
difference between (i) the amount of the Cost Proposal and (ii) the amount of the Maximum Allowance Amount (the "Over-Allowance
Amount"). The Over-Allowance Amount shall be disbursed by Landlord after Landlord has made disbursements in the aggregate
amount of the Maximum Allowance Amount. The remaining 50% of the Over-Allowance Amount shall be paid by Tenant to the Landlord
once the Maximum Allowance Amount is expended (i.e. prior to the Landlord's use of the first installment of the Over-Allowance
Amount). In the event that, after the applicable Cost Proposal Delivery Date, any revisions, changes, or substitutions shall be
made to the Construction Documents or the Landlord Work, then, subject to Section 3.4 below, to the extent that the amount
of the Cost Proposal plus any additional costs which arise in connection with such revisions, changes or substitutions or any
other additional costs exceeds the Maximum Allowance Amount and any Over-Allowance Amounts previously funded by Tenant, such excess
costs shall be paid by Tenant to Landlord immediately upon Landlord's request as an addition to the Over-Allowance Amount (whether
or not the Maximum Allowance Amount has then been fully utilized). Unless otherwise agreed by the parties, all Landlord Work paid
for by the Over-Allowance Amount shall be deemed Landlord's property under the terms of the Lease. Tenant hereby acknowledges
and agrees that Tenant shall be responsible for all costs associated with the Landlord Work to the extent the same exceed the
Maximum Allowance Amount (notwithstanding the content of the Cost Proposal).

 

3.4         Cost
of Tenant Changes. Landlord may, but shall not be obligated to, approve any Tenant Change on the condition that Tenant shall
pay in full, in advance, any and all additional costs or expenses associated with the approval of said Tenant Change. If
Tenant shall request any Tenant Change, Landlord shall provide Tenant in writing (a "Landlord's Change Estimate
Notice") the estimated costs of design and/or construction of the Landlord Work that Landlord determines will be incurred
as a consequence of such Tenant Change on an order of magnitude basis and shall provide Tenant with the estimated Tenant Delay,
if any, on account of such proposed Tenant Change. Tenant shall, within three (3) Business Days following receipt of Landlord's
Change Estimate Notice, notify Landlord in writing whether it desires to proceed with the applicable Tenant Change or withdraw
such Tenant Change. Tenant's failure to respond in such three (3) Business Day period shall be deemed to be a withdrawal of
the applicable Tenant Change. The cost of any Tenant Change shall be determined on a net basis; i.e. taking into account the savings,
if any, resulting from such Tenant Change. Without limiting the generality of any provisions of this Work Letter, Tenant acknowledges
that any extension of time due to a Tenant Change will not cause an extension of the Commencement Date. Landlord shall be authorized
to proceed with work described in a Tenant Change upon receipt of Tenant's notice to proceed following the giving of Landlord's
Change Estimate Notice.

 

    	 	C-4	 

     

    

 

 4.          COMPLETION OF THE LANDLORD WORK; COMMENCEMENT DATE

 

4.1         Substantial
Completion. Landlord shall give Tenant prior written notice of the date that Landlord reasonably anticipates that the Landlord
Work will be Substantially Complete (as defined below); provided, however, Landlord's failure to accurately estimate such date
shall in no event affect the actual date of Substantial Completion or any other obligations of Landlord or Tenant hereunder. For
purposes of this Lease, "Substantial Completion" shall occur upon the completion of construction of the Landlord
Work substantially pursuant to the Approved Working Drawings for such Landlord Work (as reasonably determined by Landlord), with
the exception of any punch list items which do not materially impair Tenant's ability to use the Premises.

 

4.2         Tenant
Delay of the Substantial Completion of the Premises. Each of the following shall constitute a "Tenant Delay"
to the extent such matter actually causes a delay in Substantial Completion:

 

 4.2.1      Tenant's failure to comply with the Time Deadlines;

 

 4.2.2      Tenant's failure to timely approve any matter requiring Tenant's approval within the time periods set forth herein (which, for avoidance of doubt, shall mean any period longer than five (5) Business Days or such shorter time period as may be required hereunder) except to the extent that Tenant is deemed to consent to any such request for approval in accordance with the terms of this Work Letter;

 

 4.2.3      A breach by Tenant of the material terms of this Work Letter or the Lease (provided that Landlord shall provide Tenant prior written notice specifying the nature of the breach and resulting delay);

 

 4.2.4      Any Tenant Change;

 

4.2.5
      Tenant's requirement for materials, components, finishes or improvements which are
not available in a commercially reasonable time given the anticipated date of Substantial Completion, as set forth in Attachment
2, after having been informed, in writing, by Landlord that such materials, components, finishes or improvements will
cause a delay in completion of the Landlord Work; and/or

 

4.2.6
      Any other act or omission of Tenant or anyone acting by, through or under Tenant
that causes a delay in the Landlord Work or any process described in this Work Letter (provided that Landlord shall provide
Tenant prior written notice specifying the nature of the acts or omissions giving rise to the delay and the resulting
delay).

 

Upon any Tenant Delay, notwithstanding anything to the contrary
set forth in the Lease or this Work Letter and regardless of the actual date of the Substantial Completion, the date of Substantial
Completion shall be deemed to be the date the Substantial Completion of the Premises would have occurred if no Tenant Delay, as
set forth above, had occurred and the Commencement Date shall be deemed to have occurred accordingly. Any increased costs of the
Landlord Work resulting from Tenant Delay shall be shall be paid by Tenant to Landlord immediately upon Landlord's request as
an addition to the Over-Allowance Amount.

 

    	 	C-5	 

     

    

 

Landlord and Tenant have agreed to determine the
length of any Tenant Delay as follows:

 

(i) any delays pursuant Sections 4.2.1
and 4.2.2 in the definition of Tenant Delay shall be equal to one day for each day that the applicable Tenant Delay continues
beyond the applicable time period required under this Lease, and (ii) with respect to any other Tenant Delay, Landlord shall
notify Tenant in writing of the claimed estimated length of such Tenant Delay within ten (10) Business Days after its occurrence and Tenant may elect by written notice delivered to Landlord within ten (10) Business Days thereafter to dispute the claimed estimated Tenant Delay. Unless such estimate is disputed by written
notice delivered within such ten (10) Business Day period, the length of such Tenant Delay shall be no less the claimed estimated
Tenant Delay.

 

4.3         Walk-through
and Punchlist. After the Landlord Work is Substantially Completed and prior to Tenant's move-in into the Premises, following
two (2) days' advance written notice from Tenant to Landlord, Landlord shall cause the Contractor to inspect the Premises
with a representative of Tenant and complete a punch list of unfinished items of the Landlord Work. After Landlord and Tenant have
mutually agreed upon the punch list, authorized representatives for Landlord and Tenant shall execute said punch list. The items
listed on such punch list shall be completed by the Contractor within thirty (30) days after the approval of such punch list or
as soon thereafter as reasonably practicable, provided that in the event a punch list item reasonably requires longer than thirty
(30) days to complete, then Landlord shall cause Contractor to commence the completion of such particular item within thirty (30)
days and diligently pursue the same to completion. The terms of this Section 4.3 will not affect the occurrence of the Substantial
Completion of the Premises or the occurrence of the Commencement Date.

 

4.5         Delay
Not Caused by Parties. Neither the Landlord nor Tenant shall be considered to be in default of the provisions of this Work
Letter for delays in performance due to Force Majeure.

 

4.6         Delivery.
Landlord's failure to Substantially Complete the Landlord Work on or before the anticipated date of Substantial Completion, as
set forth in Attachment 2, or to substantially complete any element of the Landlord Work, shall not give rise to any liability
of Landlord hereunder, shall not constitute a default by Landlord, and shall not affect the validity of this Lease.

 

 5.          MISCELLANEOUS

 

5.1         Tenant's
Entry Into the Premises Prior to Substantial Completion. Provided that Tenant and its agents do not interfere with Contractor's
work in the Building and the Premises, Contractor shall allow Tenant access to the Premises prior to Substantial Completion for
the purpose of Tenant installing Tenant's furniture, fixtures and equipment in the Premises. Prior to Tenant's entry into the
Premises as permitted by the terms of this Section 5.1, Tenant shall submit a schedule to Landlord and Contractor, for their
approval, which schedule shall detail the timing and purpose of Tenant's entry. Tenant's entry pursuant to this Section 5.1
shall be subject to all applicable provisions of the Lease other than the obligation to pay Base Rent and Additional Rent.

 

    	 	C-6	 

     

    

 

As a condition to Tenant's entry
into the Premises prior to the date of Substantial Completion of the Landlord Work, Tenant shall comply with and perform, and shall
cause its employees, agents, contractors, subcontractors, material suppliers and laborers to comply with and perform, all of Tenant's
insurance and indemnity obligations and other obligations governing the conduct of Tenant at the Property under this Lease.

 

Any independent contractor of Tenant (or
any employee or agent of Tenant) performing any work or inspections in the Premises prior to the date of Substantial Completion
of the Landlord Work shall be subject to all of the terms, conditions and requirements contained in the Lease (including without
limitation the provisions of Article 7) and, prior to such entry, Tenant shall provide Landlord with evidence of the insurance
coverages required pursuant to Article 7. Tenant and any Tenant contractor performing any work or inspections in the Premises
prior to the date of Substantial Completion of the Landlord Work shall use reasonable efforts not to interfere in any way with
construction of, and shall not damage the Landlord Work or the common areas or other parts of the Building. Neither Tenant, nor
any Tenant contractor performing any work or inspections in the Premises prior to the date of Substantial Completion of the Landlord
Work shall cause any labor disharmony, and Tenant shall be responsible for all costs required to produce labor harmony in connection
with an entry under this Section 5.1. Without limiting the generality of the foregoing, to the extent that the commencement
or performance of Landlord Work is delayed on account in whole or in part of any negligent act or omission, neglect, or default
by Tenant or any Tenant contractor, then such delay shall constitute a Tenant Delay as provided in Section 4.2 above.

 

Any requirements of any Tenant
contractor performing any work or inspections in the Premises prior to the date of Substantial Completion of the Landlord Work
for services from Landlord or Landlord's contractor, such as hoisting, electrical or mechanical needs, shall be paid for by Tenant
and arranged between such Tenant contractor and Landlord or Landlord's contractor based on the actual, reasonable cost thereof
determined on a time and materials basis. Should the work of any Tenant contractor performing any work or inspections in the Premises
prior to the date of Substantial Completion of the Landlord Work depend on the installed field conditions of any item of Landlord
Work, such Tenant contractor shall ascertain such field conditions after installation of such item of Landlord Work, provided,
however, both parties shall cooperate with each other in order to maximize cost and scheduling efficiencies wherever reasonably
practicable so long as Landlord is not delayed in the performance of the Landlord Work or required to incur any additional expense
not borne by Tenant hereunder. Neither Landlord nor Landlord's contractor shall ever be required or obliged to alter the method,
time or manner for performing Landlord Work or work elsewhere in the Building, on account of the work of any such Tenant contractor.
Tenant shall cause each Tenant contractor performing work on the Premises prior to the date of Substantial Completion of the Landlord
Work to clean up regularly and remove its debris from the Premises and Building. Any work performed by Tenant pursuant to this
Section 5.1 shall be performed in accordance with the applicable provisions of Article 7 of the Lease.

 

    	 	C-7	 

     

    

 

6.2         Tenant's
Representative. Tenant has designated James Parsons as its sole representative with respect to the matters set forth in this
Work Letter, who, until further notice to Landlord, shall have full authority and responsibility to act on behalf of the Tenant
as required in this Work Letter.

 

6.3         Landlord's
Representative. Landlord has designated J. Randal Long as its sole representative with respect to the matters set forth in
this Work Letter, who, until further notice to Tenant, shall have full authority and responsibility to act on behalf of the Landlord
as required in this Work Letter.

 

6.4         Time
of the Essence in This Work Letter. Unless otherwise indicated, all references herein to a "number of days" shall
mean and refer to calendar days.

 

6.5         General.
This Work Letter shall not be deemed applicable to any additional space added to the Premises at any time or from time to time,
whether by any options under the Lease or otherwise, or to any portion of the Premises or any additions to the Premises in the
event of a renewal or extension of the original Lease Term, whether by any options under the Lease or otherwise, unless and to
the extent expressly provided in the Lease or any amendment or supplement to the Lease that such additional space is to be delivered
to Tenant in the same condition the initial Premises is to be delivered.

 

[Remainder of page intentionally left
blank.]

 

    	 	C-8	 

     

    

 

ATTACHMENT 1

 

FIT PLAN

 

 

 

    	 	C-9	 

     

    

 

ATTACHMENT 2

 

TIME DEADLINES

 

Construction Documents Outside
Approval Date - 1/18/19

Anticipated Construction Commencement Date - 2/18/19

Anticipated Substantial Completion Date -4/1/19

 

    	 	C-10	 

     

    

 

EXHIBIT D

 

BUILDING RULES AND REGULATIONS

 

Capitalized terms have the same meaning as defined
in the Lease.

 

		1.	Sidewalks, doorways, vestibules, halls, stairways and other similar areas shall not be obstructed by Tenant or used by Tenant
for any purpose other than ingress and egress to and from the Premises. No rubbish, litter, trash, or material shall be placed,
emptied, or thrown in those areas. At no time shall Tenant permit Tenant's employees to loiter in Common Areas or elsewhere about
the Building or Property.

 

		2.	Plumbing fixtures and appliances shall be used only for the purposes for which designed, and no sweepings, rubbish, rags or
other unsuitable material shall be thrown or placed in the fixtures or appliances. Damage resulting to fixtures or appliances by
Tenant, its agents, employees or invitees, shall be paid for by Tenant, and Landlord shall not be responsible for the damage.

 

		3.	No signs, advertisements or notices shall be painted or affixed to windows, doors or other parts of the Building, except those
of such color, size, style and in such places as are first approved in writing by Landlord. All tenant identification and suite
numbers at the entrance to the Premises shall be installed by Landlord, at Landlord's cost and expense, using the standard graphics
for the Building. Except in connection with the hanging of lightweight pictures and wall decorations, no nails, hooks, tape or
screws shall be inserted into any part of the Premises or Building except by the Building maintenance personnel.

 

		4.	Landlord may provide and maintain in the first floor (main lobby) of the Building an alphabetical directory board or other
directory device listing tenants, and no other directory shall be permitted unless previously consented to by Landlord in writing.

 

		5.	Tenant shall not place any lock(s) on any door in the Premises or Building without Landlord's prior written consent and
Landlord shall have the right to retain at all times and to use keys to all locks within and into the Premises. A reasonable number
of access cards or keys to the locks on the entry doors in the Premises shall be furnished by Landlord to Tenant at Tenant's cost,
and Tenant shall not make any duplicate keys. All keys shall be returned to Landlord at the expiration or early termination of
this Lease.

 

		6.	All contractors, contractor's representatives and installation technicians performing work in the Building shall be subject
to Landlord's prior approval and shall be required to comply with Landlord's standard rules, regulations, policies and procedures,
which may be revised from time to time.

 

		7.	Movement in or out of the Building of furniture or office equipment, or dispatch or receipt by Tenant of merchandise or materials
requiring the use of elevators, stairways, lobby areas or loading dock areas, shall
be restricted to hours designated by Landlord. Tenant shall obtain Landlord's prior approval by providing a detailed listing of
the activity. If approved by Landlord, the activity
shall be under the supervision of Landlord. Landlord may require, in Landlord's sole discretion, that Tenant provide a security
detail for such activity, at the sole cost and expense of Tenant. Said security detail shall comply with the standards, procedures
and protocols established by Landlord. Tenant shall assume all risk for damage to articles moved and injury to any persons resulting
from the activity. If equipment, property, or
personnel of Landlord or of any other party is damaged or injured as a result of or in connection with the activity, Tenant shall
be solely liable for any resulting damage or loss.

 

    	 	D-1	 

     

    

 

		8.	Landlord shall have the right to approve the weight, size, or location of heavy equipment or articles in and about the Premises.
Landlord reserves the right to, at Tenant's sole cost and expense, have Landlord's structural engineer review Tenant's floor loads
within the Premises prior to approval of any such heavy equipment or articles. Damage to the Building by the installation, maintenance,
operation, existence or removal of property of Tenant shall be repaired at Tenant's sole expense.

 

		9.	Corridor doors and main entry doors, when not in use, shall be kept closed.

 

		I0.	Tenant shall not: (1) make
or permit any improper, objectionable or unpleasant noises or odors in the Building, or otherwise interfere in any way with other
tenants or persons having business with them; (2) solicit business or distribute, or cause to be distributed, in any portion
of the Building, handbills, promotional materials or other advertising; or (3) conduct or permit other activities in the Building
that might, in Landlord's sole opinion, constitute a nuisance.

 

		11.	No animals, except those assisting handicapped persons, shall be brought into the Building or kept
in or about the Premises.

 

		12.	No inflammable, explosive or dangerous fluids or substances shall be used or kept by Tenant in the
Premises, Building or about the Property. Tenant shall not, without Landlord's prior written consent, use, store, install, spill,
remove, release or dispose of, within or about the Premises or any other portion of the Property, any asbestos-containing materials
or any solid, liquid or gaseous material now or subsequently considered toxic or hazardous under the provisions of 42 U.S.C. Section 9601
et seq. or any other applicable environmental Law which may now or later be in effect. Tenant shall comply with all Laws pertaining
to and governing the use of these materials by Tenant, and shall remain solely liable for the costs of abatement and removal.

 

		13.	Tenant shall not use or occupy the Premises in any manner or for any purpose which might injure the
reputation or impair the present or future value of the Premises or the Building. Tenant shall not use, or permit any part of the
Premises to be used, for lodging, sleeping or for any illegal purpose.

 

    	 	D-2	 

     

    

 

		14.	Tenant shall not take any action which would violate Landlord's labor contracts or which would cause
a work stoppage, picketing, labor disruption or dispute, or interfere with Landlord's or any other tenant's or occupant's business
or with the rights and privileges of any person lawfully in the Building ("Labor Disruption"). Tenant shall take the
actions necessary to resolve the Labor Disruption, and shall have pickets removed and, at the request of Landlord, immediately
terminate any work in the Premises that gave rise to the Labor Disruption, until Landlord gives its written consent for the work
to resume. Tenant shall have no claim for damages against Landlord or any of the Landlord Related Parties, nor shall the date of
the commencement of the Term be extended as a result of the above actions.

 

		15.	Tenant shall not install, operate or maintain in the Premises or in any other area of the Building,
electrical equipment that would overload the electrical system beyond its capacity for proper, efficient and safe operation as
determined solely by Landlord. Landlord reserves the right to review from time to time the capacity of the Premises with an electrical
engineer, at Landlord's sole cost and expense. Tenant shall not furnish cooling or heating to the Premises, including, without
limitation, the use of electronic or gas heating devices, without Landlord's prior written consent. Tenant shall not use more than
its proportionate share of electricity, telephone lines and other telecommunication facilities available to service the Building.
In the event that Tenant requests additional electric capacity, Landlord reserves the right
to install submeters to measure and bill Tenant for Tenant's total electricity usage.

 

		16.	Tenant shall not operate or permit to be operated a coin or token operated vending machine or similar
device (including, without limitation, telephones, lockers, toilets, scales, amusement devices and machines for sale of beverages,
foods, candy, cigarettes and other goods), except for machines for the exclusive use of Tenant's employees, and then only if the
operation does not violate the lease of any other tenant in the Building.

 

		17.	Bicycles and other vehicles are not permitted inside the Building or on the walkways outside the
Building, except in areas designated by Landlord.

 

		18.	Landlord may from time to time adopt systems and procedures for the security and safety of the Building,
its occupants, entry, use and contents. Tenant, its agents, employees, contractors, guests and invitees shall comply with Landlord's
systems and procedures.

 

		19.	Landlord shall have the right to prohibit the use of the name of the Building or any other publicity
by Tenant that in Landlord's sole opinion may impair the reputation of the Building or its desirability. Upon written notice from
Landlord, Tenant shall refrain from and discontinue such publicity immediately.

 

		20.	Tenant shall not canvass, solicit or peddle in or about the Building or the Property.

 

    	 	D-3	 

     

    

 

		21.	Landlord shall have the right to designate and approve standard window coverings for the Premises
and to establish rules to assure that the Building presents a uniform interior and exterior appearance. Tenant shall ensure,
to the extent reasonably practicable, that window coverings are closed on windows in the Premises while they are exposed to the
direct rays of the sun.

 

		22.	Deliveries to and from the Premises shall be made only at the times, in the areas and through the
entrances and exits designated by Landlord. Tenant shall not make deliveries to or from the Premises in a manner that might interfere
with the use by any other tenant of its premises or of the Common Areas, any pedestrian use, or any use which is inconsistent with
good business practice.

 

		23.	The work of cleaning personnel shall not be hindered by Tenant after 5:30 P.M., and cleaning work
may be done at any time when the offices are vacant after 5:30 P.M. Windows, doors and fixtures may be cleaned
at any time. Tenant shall provide adequate recycling, waste and rubbish receptacles to prevent unreasonable hardship to the cleaning
service at Tenant's sole cost and expense.

 

		24.	Smoking is prohibited in the Building and within twenty-five (25) feet of any entries, outdoor air
intakes and operable windows.

 

		25.	The use of Chlorofluorocarbon (CFCs)-based refrigerants is prohibited in the Building and in the
Premises. The use of any products or insulation containing urea formaldehyde or urea formaldehyde resin is prohibited in the Building
and in the Premises.

 

		26.	Tenant shall, at its sole cost and expense, comply with Landlord's recycling and LEED policies, as
the same may be adopted for the Building and as the same may be modified from time to time, with regard to aluminum, paper and
plastics or any other recyclable material as may be reasonably designated as an office use recyclable product.

 

		27.	Before closing and leaving its premises at any time, each tenant shall use reasonable efforts to
turn off all lights that are not otherwise required to remain on; provided, however, tenants shall not be responsible for any lights
which remain on following and resulting from janitorial service in the Building. The use of space heaters is prohibited. Notwithstanding
anything to the contrary herein, any space conditioning equipment that is placed in the Premises for the purpose of increasing
comfort to tenants shall be operated on sensors or timers that limit operation of equipment to hours of occupancy in the areas
immediately adjacent to the occupying personnel.

 

		28.	Tenants shall comply with all mandatory (and voluntary, if adopted generally by first-class office
buildings in the city in which the Building is located) energy, water or other conservation controls or requirements of general
applicability to comparable office buildings in the city in which the Building is located issued or imposed from time-to-time by
applicable governmental agencies or authorities, or applicable utilities or insurance
carriers, which may include, without limitation, requirements, controls or limitations concerning the permitted range of temperature
settings or the volume of energy consumption.

 

		29.	The parking garage, parking lot, underground loading docks, motor court and driveways are to be used
only for the purposes authorized by Landlord and shall not be obstructed or misused in any way. Parking or standing in any unauthorized
area is prohibited.

 

    	 	D-4	 

     

    

 

EXHIBIT E

 

FORM OF LETTER OF CREDIT

 

 

 

[Name of Financial
Institution]

 

 

	 	Irrevocable Standby

 Letter of Credit
	 	No.______________________________________
	 	Issuance Date:_____________________________
	 	Expiration
    Date:____________________________
	 	Applicant:_________________________________

 

Beneficiary

 

PPF OFF I 00 Cambridge Park Drive, LLC

c/o Morgan Stanley Real
Estate Advisor, Inc.

1585 Broadway, 37th Floor

New York, New York 10036

Attention: Jennie Pries Friend

 

Ladies/Gentlemen:

 

We, Royal
Bank of Canada (the "Issuer"), hereby establish our Irrevocable Standby Letter of Credit Number #XXX ("Letter
of Credit") in your favor ("Beneficiary") at the request and for the account of XXXXXXX ("Applicant")
, available by your drafts drawn at sight on ROYAL BANK OF CANADA, 30 HUDSON ST, 28TII FLOOR, JERSEY CITY, NJ 07302-4699, ATTN:
CREDIT ADMINISTRATION up to an aggregate amount of 'Text Amount of L/C and 00/100 US DOLLARS' (US$XXXX) (the
 "Stated Amount"), effective immediately and expiring at at 5:00 p.m., New
York City time, on XX/XX/XX unless extended as below.

 

Payment of any draft drawn on us will
be honored upon presentation of (a) this original Letter of Credit and subsequent amendments, if any, and (b) a
statement from the Beneficiary, dated and signed by a duly authorized individual of the Beneficiary, which states that
 "THIS DRAWING IN THE AMOUNT OF_____________U.S. DOLLARS($__________,, UNDER YOUR
IRREVOCABLE STANDBY LETTER OF CREDIT NO.__________ REPRESENTS FUNDS DUE AND OWING TO US UNDER THAT CERTAIN LEASE DATED __________BY AND BETWEEN PPF OFF 100 Cambridge Park Drive, LLC, AS
LESSOR, AND_____________AS LESSEE.". The draft must state thereon: "Drawn under
Royal Bank of Canada Letter of Credit #XXX, dated XIXXiXX. "

 

This Letter
of Credit shall be automatically extended without amendment for successive periods of one (1) year on the above-stated expiration
date and on each anniversary, unless at least sixty (60) days prior to the then-current
expiration date, we notify Beneficiary, in writing by certified mail or courier service, return receipt requested, that we elect
not to extend this Letter of Credit.     In any event, the expiration
date of this Letter of Credit will not be extended beyond the final expiration date of XX/XX/XX.

 

    	 	E-1	 

     

    

 

Upon receipt of the notice specified in
the preceding paragraph, you may draw upon this Letter of Credit by presentation of the documents set forth in (a) and (b) above,
and (c) a dated statement signed by an authorized representative of the Beneficiary stating that the Applicant has failed
to provide an acceptable substitute letter of credit.

 

We hereby undertake that drafts drawn under
and in compliance with the terms and conditions of this Letter of Credit will be duly honored upon presentation, and payment will
be effected in accordance with the accompanying instructions on the same business day if presentation is made before 10:00 A.M.,
New York City Time, on that day. If such presentation is made after
10:00 A.M., New York City Time, then payment will be effected in accordance with the accompanying instructions before the close
of business on the following business day. Presentation of drawings may also be made by fax at (212_) 428-3015, provided that you
confirm our receipt of the fax transmission of the documents by calling the Issuer at 212-428- 6298. If
a drawing is made by fax, the original drawing documents need not be submitted. This Letter of Credit is transferable in
whole, but not in part, to any transferee and may be successively transferred: provided, however, that under no circumstances shall
this Letter of Credit be transferred to any person or entity with which U.S. persons or entities are prohibited from conducting
business under U.S. Office of Foreign Assets Control regulations or any other applicable U.S. laws and regulations. Transfer of
this Letter of Credit to a permitted transferee shall be effected by the presentation to us of this Letter of Credit accompanied
by a transfer request (which will be provided upon request). Upon such presentation we shall forthwith transfer the same to your
transferee. Transfer fees are for the account of the Applicant.

 

Partial and multiple drawing are permitted.
The Stated Amount will be automatically reduced by the amount of any drawings honored by us hereunder. Except as otherwise expressly
stated, this Letter of Credit is subject to the International Standby Practices 1998 ICC Publication 590 ("ISP98").

 

All communications to us with respect to
this Letter of Credit must be addressed to our office located at 30 HUDSON ST, 28TH FLOOR, JERSEY CITY, NJ 07302-4699 to the attention
of CREDIT ADMINISTRATION.

 

 

	 	Very truly yours,
	 	 
	 	 
	 	[name)
	 	 
	 	[title)

 

    	 	E-2

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