Document:

Exhibit 10.10

 

FIRST AMENDMENT TO
OFFICE LEASE

 

THIS FIRST AMENDMENT TO
OFFICE LEASE (“First Amendment”) is entered into effective as of August 29, 2019 (the “Effective
Date”), by and between GPI PLAZA TOWER, LP, a Texas limited partnership (“Landlord”), and FLEX LEASING POWER &
SERVICE, LLC, a Delaware limited liability company (“Tenant”).

 

RECITALS

 

A.           Landlord
and Tenant entered into that certain Office Lease dated February 19, 2018 (the “Lease”), for Suite 900 containing
approximately 7,972 rentable square feet (the “Original Premises”), located on the ninth (9th) floor of
the office building known as Plaza Tower One located at 6400 South Fiddler’s Green Circle, Greenwood Village, Colorado 80111 (the
 “Building”).

 

B.            The
parties desire to amend the Lease as more particularly set forth in this First Amendment.

 

AGREEMENT

 

NOW, THEREFORE, for and
in consideration of the facts mentioned above, the mutual promises set forth below and other good and valuable consideration, the sufficiency
and receipt of which are hereby acknowledged, the parties hereto agree as follows:

 

1.            Capitalized
Terms; Recitals. All capitalized terms used in this First Amendment which are not defined herein shall have their meanings in the
Lease. The recitals are incorporated into this First Amendment as though set forth in full in it.

 

2.            Expansion
Premises. Commencing on the Expansion Commencement Date (as defined in Exhibit B attached hereto), Landlord hereby leases
to Tenant and Tenant leases from Landlord approximately 1,978 rentable square feet on the first floor of the Building, known as Suite 910,
as shown on Exhibit A attached hereto and incorporated herein by this reference (the “Expansion Premises”),
for a term that is coterminous with the Term, subject to all of the terms and provisions of the Lease, as amended by this First Amendment.
Landlord will deliver the Expansion Premises to Tenant in accordance with Exhibit B attached hereto and incorporated herein
by this reference (the “Work Letter”). Landlord estimates that the delivery and commencement date for the Expansion
Premises will be December 1, 2019; provided, however, that the actual “Expansion Commencement Date” will be determined
pursuant to the Work Letter.

 

3.            Premises.
As of the Expansion Commencement Date, (a) the Original Premises and the Expansion Premises will collectively constitute the “Premises”
under the Lease, (b) the Premises Rentable Area shall consist of a total of approximately 9,950 rentable square feet, (c) all
references in the Lease to the “Premises” will be deemed to refer, collectively, to the Original Premises and the Expansion
Premises, and (d) all references in the Lease to “Exhibit B” shall be deemed to include Exhibit A attached
to this First Amendment.

 

     

     

    

 

4.            Basic
Rent. Landlord agrees not to demand or collect from Tenant Basic Monthly Rent for the Expansion Premises the first four (4) months
following the Expansion Commencement Date (the “Expansion Abatement Period”). If the Expansion Abatement Period ends
on a day other than the first day of a calendar month, Basic Monthly Rent for the Expansion Premises for the month in which the Expansion
Abatement Period ends shall be prorated based on the number of days after the Expansion Abatement Period in such month and the number
of days in such month. If a default beyond any applicable cure period provided for herein occurs at any time during the Term and Landlord
seeks to terminate the Lease as a result of such default, the abated Basic Monthly Rent for the Expansion Abatement Period will be immediately
due and payable. The first day following the expiration of the Expansion Abatement Period shall be the “Expansion Premises Rent
Commencement Date.” Prior to the Expansion Premises Rent Commencement Date, Tenant shall continue to pay Basic Rent for the
Original Premises in accordance with the terms of the Lease. Notwithstanding anything to the contrary contained in the Lease, commencing
on the Expansion Premises Rent Commencement Date, and continuing through the Term, Tenant shall pay monthly installments of Basic Rent
for the entire Premises (on the same terms and conditions as set forth in the Lease, as modified herein) as set forth in the table below:

 

	Rental Period	 	Annual Rate per

 Square Foot of

 Premises Rentable

 Area	 	 	Basic Monthly Rent	 
	From the Expansion Premises Rent Commencement Date through September 30, 2020	 	$	31.78	 	 	$	26,350.92	 
	October 1, 2020 – September30, 2021	 	$	32.57	 	 	$	27,005.96	 
	October 1, 2021 – September 30, 2022	 	$	33.38	 	 	$	27,677.58	 
	October 1, 2022 – September 30, 2023	 	$	34.22	 	 	$	28,374.08	 

 

5.            Tenant’s
Share. Effective as of the Expansion Commencement Date, Tenant’s Share, as defined in Section 6 of the Basic Lease Information
of the Lease, is hereby amended to be “2.17%”.

 

6.            Base
Year. The Operating Base Year and Tax Base for the Expansion Premises shall be the calendar year 2020. The Operating Base Year and
Tax Base for the Original Premises shall continue to be as set forth in the Lease.

 

7.            Condition
of Expansion Premises. Landlord shall construct the Expansion Improvements (as defined in the Work Letter) pursuant to the terms
and conditions of the Work Letter. The Work Letter shall be deemed effective upon both parties’ execution of this First
Amendment and shall not need to be separately executed by the parties hereto. Other than as set forth in the Work Letter attached as 
Exhibit B hereto, Landlord shall have no obligation for the completion or remodeling of the Original Premises or the
Expansion Premises, and Tenant shall accept the Expansion Premises in their “as
is” condition as of the Expansion Commencement Date.

 

    2 

     

    

  

8.            Parking.
As of the Expansion Commencement Date, Tenant shall lease from Landlord an additional six (6) unreserved parking permits in the Garage
(for a total of twenty-seven (27) unreserved parking permits), pursuant to the terms of Exhibit F and the Lease, Landlord agrees
not to demand or collect from Tenant Parking Rent for such additional parking permits during the existing Parking Abatement Period (which,
for the avoidance of doubt, expires by its terms on April 30, 2020).

 

9.            Additional
Security Deposit. As of the Effective Date, Landlord and Tenant acknowledge and agree that Landlord holds a Security Deposit in the
amount of $22,732.29 pursuant to Section 13 of the Basic Lease Information and Article 3 of the Lease. Prior to the Expansion
Commencement Date, Tenant shall deliver to Landlord the sum of $5,641.79 as an additional security deposit to be held by Landlord under
the Lease. As of such additional deposit, Section 13 of the Basic Lease Information is amended to provide that the Security Deposit
under the Lease is $28,374.08.

 

10.          Broker.
Tenant represents and warrants to Landlord that no broker or agent negotiated or was instrumental in the negotiation or consummation
of this First Amendment other than the Brokers (as defined in Section 17 of the Basic Lease Information, except that Katy Sheehy
is hereby amended to be Abby Pattillo). Landlord and Tenant each agree to indemnify and hold harmless the other party against any loss,
expense, cost or liability incurred by such party as a result of any claims by any brokers acting on behalf of, or claiming to be acting
on behalf of, the indemnifying party other than the Brokers.

 

11.          No
Further Modifications. Except as otherwise set forth in this First Amendment, the terms and conditions of the Lease remain unchanged
and in full force and effect. In the event of any conflict between the terms of the Lease and the terms of this First Amendment, the terms
of this First Amendment shall govern and control.

 

12.          Headings.
The paragraph headings that appear in this First Amendment are for purposes of convenience of reference only and are not in any sense
to be construed as modifying the substance of the paragraphs in which they appear.

 

13.          Severability.
In the event that any one or more of the provisions of this First Amendment shall for any reason be held to be invalid or unenforceable,
the remaining provisions of this First Amendment shall be unimpaired, and shall remain in full force and effect and be binding upon the
parties hereto.

 

14.          Counterparts.
This First Amendment may be executed in counterparts, each of which shall be deemed an original, and all of which when executed and delivered
shall together constitute one and the same instrument.

 

15.          Authority.
Each party represents that the person executing this First Amendment for such party is acting on behalf of such party and is duly authorized
to execute this First Amendment for such party.

  

16.          Entire
Agreement. This First Amendment constitutes the entire and complete agreement of the parties with respect to the subject matter hereof,
and supersedes all prior or contemporaneous agreements, statements, promises, understandings, arrangements, and commitments.

 

17.          Governing
Law. This First Amendment shall be governed by and construed in accordance with the internal laws and decisions of the state in which
the Premises are located.

 

18.          Binding
Effect. This First Amendment becomes effective as of the Effective Date only upon execution by both Landlord and Tenant.

 

[Signature Page Follows]

 

    3 

     

    

 

IN WITNESS WHEREOF, the
parties hereto have executed this First Amendment to Office Lease as of the date first written above.

 

	LANDLORD:	 	TENANT:
	 	 	 	 	 	 
	GPI PLAZA TOWER, LP, a Texas limited	 	FLEX LEASING POWER & SERVICE, LLC,
	partnership	 	a Delaware limited liability company
	 	 	 	 	 	 
	By:	Granite Properties, Inc.,	 	 	 
	 	a Delaware corporation	 	By:	/s/ Doug Baltzer
	 	Its general partner 	 	Name:	Doug Baltzer
	 	 	 	 	Title:	Chief Commercial Officer
	 	 	 	 	 	 
	 	By:	/s/ Stephanie T. Lawrence	 	 	 
	 	 	Stephanie T. Lawrence	 	 	 
	 	 	Senior Managing Director	 	 	 

 

    4 

     

    

 

EXHIBIT A

 

DEPICTION OF EXPANSION
PREMISES

 

 

 

    Exhibit A

     

    

 

EXHIBIT B

 

WORK LETTER

 

	1.	Plans.

 

1.1          Space
Plan. Landlord and Tenant have agreed that the Expansion Premises will be improved in accordance with the plans and specifications,
including without limitation the Space Plan and related Notes dated April 18, 2019, attached hereto as Schedule B-1 (herein referred
to as the “Space Plan”) approved and initialed by Landlord and Tenant.

 

1.2          Design
and Color Scheme. Within seven (7) business days after the Effective Date of the First Amendment, Tenant’s representatives
shall meet with Landlord’s space planner, at Tenant’s expense (provided that such expense may be included in the Expansion
Allowance) to arrive at an acceptable design of and color scheme for the Expansion Premises (such design and color scheme, when approved
by Landlord and Tenant, the “Design and Color Scheme”) and an acceptable product specification list for all materials, products,
finishes and work that Tenant desires to use that are not Building Standard (such product specification list, when approved by Landlord
and Tenant, the “Above Standard Product Specification List”). The Design and Color Scheme shall, in Landlord’s sole
judgment, conform to the design criteria from time to time established by Landlord for the Building, and the Above Standard Product Specification
List shall be acceptable to Landlord in all respects. Delays in construction of the Expansion Improvements (hereinafter defined) caused
by Tenant’s specification of a material, product, finish or type of work included in the Above Standard Product Specification List
shall constitute a Tenant Delay (hereinafter defined). Each day thereafter that the Design and Color Scheme and Above Standard Product
Specification List are not approved by Tenant shall constitute one (1) day of Tenant Delay.

 

1.3          Compliance
with Disability Acts. Tenant shall promptly provide Landlord and Landlord’s space planner and/or architect, as applicable, with
all information needed to cause the construction of the Expansion Improvements to be completed such that Tenant, the Expansion Premises
and the Expansion Improvements (as constructed) will be in compliance with the Disability Acts.

 

1.4          Construction
Plans. On or before seven (7) business days after approval of both the Design and Color Scheme and the Above Standard Product
Specification List by Landlord and Tenant, Landlord’s space planner and engineer will meet to prepare construction plans (such
construction plans, when approved, and all changes and amendments thereto agreed to by Landlord and Tenant in writing, the “Construction
Plans”) for all of the improvements to the Expansion Premises (individually and collectively, the “Expansion Improvements”)
described in the Space Plan, the Design and Color Scheme and the Above Standard Product Specification List, including complete detail
and finish drawings for partitions, doors, reflected ceiling, telephone outlets, electrical switches and outlets and Building Standard
heating, ventilation and air conditioning equipment and controls. Within five (5) business days after the Construction Plans are
delivered to Tenant, Tenant shall approve (which approval shall not be unreasonably withheld) or disapprove same in writing and, if disapproved,
Tenant shall provide Landlord and Landlord’s space planner and engineer specific reasons for disapproval. If Tenant disapproves
of any aspect of the Construction Plans, Landlord shall cause Landlord’s space planner and engineer to revise the applicable portions
of the Construction Plans to address Tenants objections, and shall deliver such revised documentation to Tenant. The foregoing process
shall continue until the Construction Plans are approved by Tenant; provided that if Tenant fails to respond in any five (5) business
day period, Tenant shall be deemed to have approved the last submitted construction plans. Each day thereafter that the Construction
Plans are not approved by Tenant shall constitute one (1) day of Tenant Delay. The Expansion Improvements shall not include any
of Tenant’s trade fixtures, equipment, furniture, furnishings, telephone and date equipment or other personal property.

  

    Exhibit B, Page 1

     

    

  

1.5          Changes
to Approved Plans. If any redrawing or re-drafting of either the Space Plan, the Design and Color Scheme, the Above Standard Product
Specification List or the Construction Plans is necessitated by Tenant’s requested changes (all of which shall be subject to Landlord’s
approval), the expense of any such re-drawing or re-drafting required in connection therewith and the expense of any work and improvements
necessitated by such re-drawing or re-drafting will be charged to Tenant.

 

1.6          Coordination
of Planners and Designers. If Tenant shall arrange for interior design services or services above the scope of work referenced in
1.4 above, whether with Landlord’s space planner or any other planner or designer, it shall be Tenant’s responsibility to
cause necessary coordination of its agents’ efforts with Landlord’s agents to ensure that no delays are caused to either the
planning or construction of the Expansion Improvements.

 

2.            Construction
and Costs of the Expansion Improvements

 

2.1            Construction
Obligation and Expansion Allowance. Landlord shall deliver, and Tenant shall accept, the Expansion Premises in “as is”
condition subject to construction of the Expansion Improvements. Landlord agrees to obtain no less than three (3) different competitive
bids to construct the Expansion Improvements, at Tenant’s cost and expense; provided, however, Landlord shall provide Tenant with
an allowance up to $30.00 per square foot of rentable area of the Expansion Premises (the “Expansion Allowance”) which allowance
shall be used solely for the Expansion Improvements and which allowance shall be disbursed by Landlord, from time to time, for payment
of (in the following priority) (i) the contract sum required to be paid to the general contractor engaged to construct Expansion
Improvements (the “Contract Sum”), (ii) the fees of the preparer of the Construction Plans and (iii) payment of
the Construction Management Fee (hereinafter defined) (the foregoing costs hereinafter collectively, the “Permitted Costs”).
Upon completion of the Expansion Improvements and in consideration of Landlord’s administering the construction of the Expansion
Improvements, Tenant agrees to pay Landlord a fee equal to three percent (3%) of the Contract Sum (the “Construction Management
Fee”). Any unused portion of the Expansion Allowance must be utilized within the first twelve (12) months after the Expansion Premises
Commencement Date.

 

    Exhibit B, Page 2

     

    

 

2.2          Excess
Costs. If the sum of the Permitted Costs exceeds the Expansion Allowance, then Tenant shall pay all such excess costs (the
 “Excess Costs”), provided, however, Landlord will, prior to the commencement of construction of the Expansion
Improvements, advise Tenant of the Excess Costs, if any, and the Contract Sum. Tenant shall have three (3) business days from
and after the receipt of such advice within which to approve or disapprove the Contract Sum and the Excess Costs. If Tenant fails to
approve same by the expiration of the third (3rd) such business day, then Tenant shall be deemed to have approved the proposed
Contract Sum and Excess Costs. If Tenant disapproves the Contract Sum and Excess Costs within such three (3) business day
period, then Tenant shall reduce the scope of the Expansion Improvements such that there shall be no Excess Costs. Subject to the
last sentence of this subsection, the foregoing process shall continue until a Contract Sum and resulting Excess Costs, if any, are
accepted or deemed accepted by Tenant. Landlord and Tenant must approve (or be deemed to have approved) the Contract Sum for the
construction of the Expansion Improvements in writing prior to the commencement of construction.

 

2.3          Liens
Arising from Excess Costs. Tenant agrees to keep the Original Premises and the Expansion Premises free from any liens arising out
of nonpayment of Excess Costs. The terms of Article 9 of the Lease shall apply to any such liens.

 

2.4          Construction
Deposit. Tenant shall remit to Landlord an amount (the “Prepayment”) equal to the projected Excess Costs, if any, prior
to commencement of construction by Landlord and commencement of work required by each change order involving Excess Costs-during the
construction period. Should Tenant fail to timely make a Prepayment, Landlord shall have the right to suspend construction and each day
of delay shall be a Tenant Delay. All sums due Landlord under this Section 2.4 shall be considered Rent under the terms of the Lease
and nonpayment shall constitute a default under the Lease and entitle Landlord to any and all remedies specified in the Lease, including
without limitation, Late Charges.

 

3.            Delays.
Each delay in the completion of construction of the Expansion Improvements or in obtaining a certificate of occupancy or a
final inspection, if required by the applicable governmental authority, caused by Tenant, Tenant’s Contractors (hereinafter defined)
or any person, firm or corporation employed by Tenant or Tenant’s Contractors shall constitute a ‘Tenant Delay” (herein
so called).

 

4.            Expansion
Premises Commencement Date. Landlord estimates that the delivery of the Expansion Premises to Tenant shall occur on December 1,
2019; provided, however, that the actual “Expansion Premises Commencement Date” shall be the date the Expansion Improvements
in the Expansion Premises are Substantially Complete (as defined below), adjusted backward, however, by one day for each day of Tenant
Delays, if any.

 

5.            Substantial
Completion and Punch List. The terms “Substantial Completion” and “Substantially Complete” as
applicable, shall mean when the Expansion Improvements are sufficiently completed in accordance with the Construction Plans so that
Tenant can reasonably use the Expansion Premises for the Permitted Use (as described in the Basic Lease Information). When Landlord
considers the Expansion Improvements to be Substantially Complete, Landlord will notify Tenant and within two (2) business days
thereafter, Landlord’s representative and Tenant’s representative shall conduct a walk-through of the Expansion Premises
and identify any necessary touch-up work, repairs and minor completion items as are necessary for final completion of the Expansion
Improvements (collectively, the “Punch List Items”). Neither Landlord’s representative nor Tenant’s
representative shall unreasonably withhold his or her agreement on the Punch List Items. Landlord will cause the contractor to
complete all Punch List Items within thirty (30) days after Landlord’s and Tenant’s agreement thereon.

 

    Exhibit B, Page 3

     

    

 

6.            Tenant’s
Contractors. If Tenant should desire to enter the Expansion Premises or authorize its agent to do so prior to the Expansion
Premises Commencement Date, to perform approved work not requested of the Landlord, Landlord shall permit such entry upon, and subject
to, the following terms and conditions:

 

(a)          Tenant
shall use only such contractors selected by Tenant but approved by Landlord in its reasonable discretion and Landlord shall have approved
the plans to be utilized by Tenant, which approval will not be unreasonably withheld; and

 

(b)          Tenant,
its contractors, workmen, mechanics, engineers, space planners or such others as may enter the Expansion Premises (collectively, “Tenant’s
Contractors”), shall work in harmony with and shall not in any way disturb or interfere with Landlord’s space planners, architects,
engineers, contractors, workmen, mechanics or other agents or independent contractors in the performance of their work (collectively,
 “Landlord’s Contractors”) or other tenants in the Building, it being understood and agreed that if entry of Tenant or
Tenant’s Contractors would cause, has caused or is causing a material disturbance to Landlord or Landlord’s Contractors or
other tenants, then Landlord may, with notice, refuse admittance to Tenant or Tenant’s Contractors causing such disturbance; and

 

(c)          Tenant,
Tenant’s Contractors and other agents shall provide Landlord sufficient evidence that each is covered under Worker’s Compensation,
and Commercial General Liability Insurance of $5,000,000 per occurrence for Tenant’s Contractors which are involved in the actual
construction of improvements or the installation of fixtures within the Expansion Premises or Worker’s Compensation and Commercial
General Liability Insurance of $2,000,000 per occurrence for Tenant’s Contractors which are involved in the installation of furnishings
and equipment, including, without limitation, cabling, carpeting, and window treatments, in the Expansion Premises, together with such
property insurance as Landlord may reasonably request for its protection. General Liability Insurance shall include coverage for ongoing
and completed construction. Tenant’s Contractors will name Landlord and Property Manager as additional insureds on commercial general
liability and property insurance policies. All liability policies will be primary and non-contributory and contain waivers of subrogation
in favor of Landlord. Workers Compensation policy shall contain a waiver of subrogation in favor of Landlord.

 

LANDLORD SHALL NOT
BE LIABLE FOR ANY INJURY, LOSS OR DAMAGE TO ANY OF TENANT’S INSTALLATIONS OR DECORATIONS MADE PRIOR TO THE EXPANSION PREMISES
COMMENCEMENT DATE AND NOT INSTALLED BY LANDLORD UNLESS SUCH INJURY, LOSS OR DAMAGE TO ANY OF TENANT’S INSTALLATIONS OR
DECORATIONS IS CAUSED BY LANDLORD’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. TENANT SHALL INDEMNIFY AND HOLD HARMLESS LANDLORD
AND LANDLORD’S CONTRACTORS FROM AND AGAINST ANY AND ALL COSTS, EXPENSES, CLAIMS, LIABILITIES AND CAUSES OF ACTION ARISING OUT
OF OR IN CONNECTION WITH WORK PERFORMED IN THE EXPANSION PREMISES BY OR ON BEHALF OF TENANT (BUT EXCLUDING WORK PERFORMED BY
LANDLORD OR LANDLORD’S CONTRACTORS). LANDLORD IS NOT RESPONSIBLE FOR THE FUNCTION AND MAINTENANCE OF THE EXPANSION
IMPROVEMENTS WHICH ARE DIFFERENT FROM THE BUILDING STANDARD IMPROVEMENTS AT THE PROPERTY OR IMPROVEMENTS, EQUIPMENT, CABINETS OR
FIXTURES NOT INSTALLED BY LANDLORD. SUCH ENTRY BY TENANT AND TENANT’S CONTRACTORS PURSUANT TO THIS SECTION 6 SHALL BE
DEEMED TO BE UNDER ALL OF THE TERMS, COVENANTS, PROVISIONS AND CONDITIONS OF THE LEASE EXCEPT THE COVENANT TO PAY RENT WITH RESPECT
TO THE EXPANSION PREMISES.

 

    Exhibit B, Page 4

     

    

 

7.            Construction
Representatives. Landlord’s and Tenant’s representatives for coordination of construction and approval of change
orders will be as follows, provided that either party may change its representative upon written notice to the other:

 

	LANDLORD’S REPRESENTATIVE:
	 	 	 
	 	NAME	Richard Vannatta, Granite Properties
	 	ADDRESS	6400 South Fiddlers Green Circle, Suite 500
	 	 	Greenwood Village, CO 80111
	 	PHONE	303-804-4715
	 	E-MAIL:	rvannatta@graniteprop.com
	 	 	 
	TENANT’S REPRESENTATIVE:
	 	 	 
	 	NAME	Doug Baltzer
	 	ADDRESS	6400 S. Fiddler’s Green Circle, Suite 900
	 	 	Greenwood Village, CO 80111
	 	PHONE	720-573-7664
	 	E-MAIL:	Doug.baltzer@flexleasingpower.com

 

    Exhibit B, Page 5

     

    

  

Schedule B-1

 

Space Plan

 

 

 

    Schedule B-1, Page 1

     

    

 

 

 

    Schedule B-1, Page 2Exhibit 10.11

 

SUBLEASE

 

This Sublease (this “Sublease”)
is executed as of April 12, 2016, between Energes, LLC, a Texas limited liability company (“Sublessor”),
and Flex Leasing Power & Service LLC, a Delaware limited liability company (“Sublessee”).

 

RECITALS

 

A.            Sublessor
has the right to possession of the building and property located at 14417 45 J Street, NW, Alexander, North Dakota 58831, commonly known
as the “Premises”, under that certain lease agreement dated June 5, 2014 (as amended to date, the “Base
Lease”), between Elk Ridge B5L2, LLC, a Maryland limited liability company, as “Landlord”, and
Sublessor as “Tenant”.

 

B.            Sublessee
desires to sublease the Premises (as described in Exhibit A hereto), and Sublessor has agreed to lease the Premises to Sublessee
on the terms and conditions contained herein.

 

AGREEMENTS

 

In consideration of the
premises and other good and valuable consideration, Sublessor and Sublessee agree as follows:

 

1.            Premises
Subleased & Term. Sublessor hereby subleases to Sublessee the Premises for a five-year term commencing
on the later of (i) the date in which the Landlord under the Base Lease approves this Sublease, and (ii) May 1, 2016 (the
 “Sublease Commencement Pate”) and continuing until April 30,2021 (the “Term”).

 

2.            Right
of First Refusal. At the expiration of the Term, so long as Sublessee is not in default under the Sublease, Sublessee will
have a right of first refusal to sublease the Premises. Upon Sublessor notifying Sublessee of the terms on which Sublessor is willing
to sublease the Premises, Sublessee shall have 30 days to notify Sublessor that it is either exercising or waiving its right of first
refusal.

 

3.            Rent.
As rent for this Sublease, Sublessee shall pay to Sublessor on the following schedule (“Rent”), together with
its proportionate share of all other sums, including without limitation utility costs, insurance costs, operating costs, and taxes paid
by Sublessor in its capacity as Tenant under the Base Lease (“Additional Rent”).

 

Year
1:   $13,000 NNN per month

 

Year
2:   $14,000 NNN per month

 

Year
3:   $15,500 NNN per month

 

Year
4:   $17,000 NNN per month

 

Year 5:   $18,000
NNN per month

 

     

     

    

 

Such rent shall be payable on the first day
of each month based upon a reasonable estimate provided to Sublessee by Sublessor of the other sums payable by Sublessor for that month
under the Base Lease. Within 15 days after the actual amount of other sums due under the Base Lease is known by Sublessor, Sublessor shall
notify Sublessee thereof and of Sublessee’s portion thereof. If Sublessee has overpaid rent for the period in question, such overpayment
shall be credited against the next installments of rent due or returned by Sublessor to Sublessee, or if Sublessee has underpaid rent,
then Sublessee shall pay the amount of such underpayment to Sublessor within twenty days after the receipt of such notice. Payment of
Rent and Additional Rent shall be made to Sublessor at its address written below or at such other place Sublessor may designate in writing,
without any offset or deduction whatsoever. In addition if the Base Lease requires Tenant to make payments of real estate taxes and/or
utilities which are applicable to the Premises directly to the taxing authorities and/or utility companies, as the case may be, Sublessee
shall make such payments in a timely manner and promptly supply Sublessor with evidence thereof, and such shall be deemed to be additional
rent hereunder.

 

4.            Acceptance.
Sublessee acknowledges that it has inspected the Premises demised hereunder, and is fully satisfied with their condition and accepts the
same, “AS IS.” Sublessor has made no representation or warranties of any nature whatsoever with regard to the Premises, other
than those set forth herein, and Sublessor shall have no obligation or duty with regard to preparation of the Premises for occupancy by
Sublessee. Sublessor shall deliver vacant possession of the Premises to Sublessee on Sublease Commencement Date.

 

5.            Base
Lease Incorporated. The provisions of the Base Lease are, except as otherwise herein specifically provided, hereby incorporated
in this Sublease with the same effect as if entirely rewritten herein, and shall fix the rights and obligations of the parties hereto
with respect to the Premises with the same effect as if Sublessor and Sublessee were, respectively, the landlord and tenant named in the
Base Lease. Sublessee hereby covenants to perform the covenants and undertakings of Sublessor as tenant under the Base Lease to the extent
the same are applicable to the Premises during the term of this Sublease, and agrees not to do or permit to be done any act which shall
result in a violation of any of the terms and conditions of said Base lease. Except as otherwise specifically provided herein, Sublessee
is to have the benefit of the covenants and undertakings of Landlord in the Base Lease to the extent the same are applicable to the Premises
during the term of this Sublease. It is expressly understood and agreed, however, that Sublessor is not in the position to render any
of the services or to perform any of the obligations required of Landlord by the terms of this Sublease, and that performance by Sublessor
of its obligations hereunder are conditioned upon due performance by owner of its corresponding obligations under the Base Lease. Notwithstanding
the foregoing, Sublessor shall take all reasonable measures and use its reasonable efforts to enforce its rights under the Base lease
and to insure that Landlord performs said obligations. So long as Sublesssor takes such reasonable measures and uses such reasonable efforts,
Sublessor shall not be in default under this Sublease for failure to render such services or perform such obligations required by Sublessor
by the terms of this Sublease that are the responsibility of the Landlord under the Base Lease. The terms “reasonable measures”
and “reasonable efforts” shall not include legal action against Landlord for its failure to so perform unless Sublessee agrees
to pay all actual costs and expenses in connection therewith.

 

Page 2

     

     

    

 

6.            Subordinate
to Base Lease. This Sublease is subject and subordinate in all respects to the Base Lease, and Sublessee acknowledges that
it has received a copy of the Base Lease, which is attached hereto as Exhibit B. Sublessor hereby represents and warrants
to Sublessee that the copy of the Base Lease attached hereto as Exhibit B is a true and correct copy of the Base Lease and
includes all amendments and supplements thereto.

 

7.            Holdover.
Sublessee shall promptly vacate the Premises upon expiration or termination of this Sublease. Any holding over by Sublessee beyond the
expiration date of this Sublease shall be deemed unlawful unless expressly consented to by Sublessor in writing, and Sublessor shall be
entitled to any and all remedies in law or in equity by reason of such unlawful holding over by Sublessee, Sublessee agrees to indemnify
and save Sublessor harmless against and from any and all loss, cost, expense and liability incurred by Sublessor under the Base Lease
by reason of any such holding over.

 

8.            Indemnification.
Sublessee shall indemnify and save harmless Sublessor against and from any and all liability, damage, expense, cause of action, suits,
claims or judgments for injury or death to persons or damage to property sustained by anyone in and about said Sublease Premises or any
part thereof, arising out of or in any way connected with Sublessee’s use or occupation of the Premises or this Sublease.

 

9.            Sublessor
Covenants. Sublessor shall not, without prior written consent of Sublessee, modify or amend the Base Lease or take any
action which would in any way (a) diminish Sublessee’s receipt of services to the Premises, (b) increase the Rent or Additional
Rent under this Sublease, (c) shorten the term of this Sublease (except resulting from casualty or condemnation); (d) increase
the obligations or decrease the rights of Sublessee under this Sublease or (e) decrease the obligations or increase the rights of
Landlord with respect to the Premises and/or this Sublease.

 

10.            Sublessor
Representations. Sublessor represents to Sublessee as follows:

 

(a)            The
Base Lease is in full force and effect;

 

(b)            That
as of the date of this Sublease there is no uncured default by either party under the Base Lease of which Sublessor has received notice.

 

11.            Assignment
or Subletting. Sublessee shall not, without the prior written consent of Sublessor, assign the term hereby demised, or
suffer or permit it to be assigned by operation of law or otherwise, nor shall the Sublessee, without the prior written consent of Sublessor,
let or sublet or permit the said Sublease Premises or any part thereof to be used by others for hire.

 

12.            Landlord’s
Consent. This Sublease is subject to and conditioned upon the written consent of Landlord to this subletting. If Landlord
does not give its consent to this Sublease for any reason whatsoever within thirty (30) days after the date hereof, this Sublease shall
be deemed null and void and of no effect.

 

13.            Insurance.
Sublessee shall maintain insurance as required under the Base Lease in the amounts stated in the Base Lease, with Sublessor named as an
additional insured. Sublessee shall furnish to Sublessor certificates
of such insurance and other evidence satisfactory to Sublessor of the maintenance of all insurance coverage required hereunder.

 

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14.            Notices.
All notices and other communications given pursuant to the Sublease shall be in writing and shall be (a) mailed by first class, United
States mail, postage prepaid, certified, with return receipt requested, and addressed to the parties hereto at the address listed below,
(b) hand delivered to the intended addressee, (c) sent by nationally recognized overnight courier, or (d) sent by prepaid
telegram, cable, facsimile transmission, or telex followed by a confirmatory letter. Notice sent by certified mail, postage prepaid, shall
be effective three business days after being deposited in the United States mail; all other notices shall be effective upon delivery to
the address of the addressee. The parties hereto may change their addresses by giving notice thereof to the other in conformity with this
provision.

 

	Sublessor:	Energes, LLC
	 	32315 TAMINA RD. SUITE B
	 	MAGNOLIA, TX 77354
	 	Attention:	JAMES E. PUNG	 
	 	 	 
	Sublessee:	Flex Leasing Power & Service LLC
	 	Attention: Doug Baltzer
	 	6400 S. Fiddlers Green Circle
	 	Suite 450
	 	Greenwood Village, CO 80111
	 	 
	Landlord:	Elk Ridge B5L2, LLC
	 	1610 West Street, Suite 100
	 	Annapolis, MD 21401
	 	Attention: EricDitter

 

15.            Brokerage.
Sublessor and Sublessee each warrant to the other that it has not dealt with any broker or agent in connection with the negotiation or
execution of this Sublease outside of Energy Real Estate Solutions, LLC. Sublessee and Sublessor shall each indemnify the other against
all costs, expenses, attorneys’ fees, and other liability for commissions or other compensation claimed by any broker or agent claiming
the same by, through, or under the indemnifying party.

 

16.            Binding
Effect: Governing Law. Except as modified hereby, the Base Lease shall remain in full effect and this Sublease shall be
binding upon Sublessor and Sublessee and their respective successors and assigns. If any inconsistency exists or arises between the terms
of this Sublease and the terms of the Base Lease, the terms of this Sublease shall prevail. This Sublease shall be governed by the laws
of the State in which the Premises is located.

 

17.            Counterparts.
This Sublease may be executed in multiple counterparts, each of which shall constitute an original, but all of which shall constitute
one document.

 

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Executed as of the date first written above.

 

	SUBLESSOR:	Energes, LLC
	 	 	 
	 	By:	/s/ James E. Pung
	 	Name:	JAMES E. PUNG
	 	Title:	CEO
	 	 	 
	SUBLESSEE:	Flex Leasing Power & Service LLC
	 	 	 
	 	By:	/s/ Doug Baltzer
	 	Name:	Doug Baltzer
	 	Title:	President

 

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EXHIBIT A

 

DESCRIPTION OF PREMISES

 

14417 41st J St NW, Alexander,
ND 58831

 

This two story wood-post frame property includes:

 

– 16,560 SF

 

– Four pull through bays

 

– 20’high ceilings

 

– Insulated shop

 

– Two story office space

 

– Eight 14’x14’ overhead
doors

 

Zoned industrial and located on a 6.88 acre
lot

 

 

 

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EXHIBIT B

 

[BASE LEASE]

 

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EXHIBIT C

 

LANDLORD’S
CONSENT

 

The undersigned, Landlord
under the Base Lease, executes below to evidence its consent to this Sublease. Such consent shall not release Sublessor from any liabilities
or obligations under the Base Lease nor constitute consent to any further assignment or subletting. Sublessor shall remain fully liable
under the Base Lease, and the provisions thereof shall apply to any further subleasing or assignment.

 

	LANDLORD:	Elk Ridge B5L2, LLC
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

Page 8

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