Document:

Exhibit 10.1

 

AGREEMENT OF LEASE

 

BETWEEN

 

UNITED STATES FIRE INSURANCE COMPANY,

 

as Landlord,

 

-and-

 

INTERCEPT PHARMACEUTICALS, INC.,

 

as Tenant.

 

 

 

Dated: February 7, 2022

Building: 305 Madison Avenue

Morristown, New Jersey

 

[Certain identified information has been excluded
from the exhibit because it is both not material and is the type that the registrant treats as private or confidential.]

 

     

     

    

 

TABLE OF CONTENTS

 

	Article	Page

 

	0.	Definitions	1
	 	 	 
	1.   	Premises; Parking; Rent; Additional Rent; Utilities.	6
	 	 	 
	2.   	Operating Expenses and Real Estate Taxes	7
	 	 	 
	3.   	Intentionally Omitted.	7
	 	 	 
	4.   	Acceptance; Tenant Improvements.	8
	 	 	 
	5.   	Maintenance by Tenant and Landlord	9
	 	 	 
	6.   	Alterations	10
	 	 	 
	7.   	Use	13
	 	 	 
	8.   	Compliance with Laws and Insurance Requirements.	14
	 	 	 
	9.   	Landlord's Services.	16
	 	 	 
	10.   	Indemnification; Liability	18
	 	 	 
	11.   	Landlord's and Tenant's Non-Liability	19
	 	 	 
	12.   	Discharge of Liens	20
	 	 	 
	13.   	Tenant's Insurance.	20
	 	 	 
	14.   	Assignment and Subletting	22
	 	 	 
	15.   	Damage by Fire or Other Casualty.	27
	 	 	 
	16.   	Waiver of Claims; Mutual Waiver of Subrogation	29
	 	 	 
	17.   	Condemnation	29
	 	 	 
	18.   	Default	30
	 	 	 
	19.   	Landlord's Rights Upon Tenant's Default	32
	 	 	 
	20.   	Landlord's Remedies Cumulative; Expenses	34
	 	 	 
	21.   	Subdordination and Estoppel	35

 

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	22.	No Waiver	36
	 	 	 
	23.	Landlord's Right of Entry	37
	 	 	 
	24.	Quiet Enjoyment	38
	 	 	 
	25.	Surrender	38
	 	 	 
	26.	Holding Over.	39
	 	 	 
	27.	Notices	40
	 	 	 
	28.	Changes Surrounding Building	40
	 	 	 
	29.	Rules and Regulations	40
	 	 	 
	30.	Limitation on Liability	41
	 	 	 
	31.	Directory; Signs	41
	 	 	 
	32.	Miscellaneous	43
	 	 	 
	33.	Renewal Option	50
	 	 	 
	34.	Confidentiality	51
	 	 	 
	35.	Included FF&E	51

 

	Exhibit A	Description of the Property
	Exhibit B	Floor Plan for the Premises
	Exhibit C	Minimum Rent for the Premises
	Exhibit D	Tenant Improvements; Work Letter
	Exhibit D-1	Preliminary Plans
	Exhibit E	Rules and Regulations
	Exhibit F	Cleaning Specifications for the Building
	Exhibit G	Electricity Rider
	Exhibit H	Intentionally Deleted
	Exhibit I	Included FF&E
	Exhibit J	Reserved Spaces
	Exhibit K	Contractor Sample COI
	Exhibit L	HVAC Specifications

 

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THIS AGREEMENT OF LEASE (this
 “Lease”), dated February 7, 2022, is made by and between UNITED STATES FIRE INSURANCE COMPANY (“Landlord”),
a corporation of the State of Delaware, having an office at 305 Madison Avenue, Morristown, New Jersey 07960, and INTERCEPT PHARMACEUTICALS,
INC. (“Tenant”), a corporation of the State of Delaware, having an office at 10 Hudson Yards, 37th Floor, New York,
NY 10001

 

PRELIMINARY STATEMENT

 

Landlord is the owner in fee
simple of a certain tract of land lying and being in the Town of Morristown, County of Morris, State of New Jersey (the “Property”),
which is more particularly described on Exhibit A attached hereto and made a part hereof, upon which there is located an
office building commonly known at 305 Madison Avenue (the “Building”). Tenant desires to lease space in the Building
in accordance with, and subject to, the provisions of this Lease.

 

NOW, THEREFORE, Landlord and
Tenant agree as follows:

 

DEFINITIONS

 

For all purposes of this Lease
and all agreements supplemental thereto or modifying this Lease, the following terms shall have the meanings herein specified:

 

“Additional Insureds”
shall have the meaning given to such term in Section 13.2 of this Lease.

 

“Additional Rent”
shall mean all sums payable by Tenant to Landlord pursuant to this Lease (other than Minimum Rent).

 

“Affiliate”
shall refer to: (i) an entity that is in common control with Tenant, is controlled by Tenant, or controls Tenant and (ii) an entity that
merges or consolidates with, or acquires, Tenant or substantially all of Tenant’s assets so long as the purpose of such acquisition
is not the assignment of this Lease; provided that any entity into which Tenant is merged or consolidated with has a net worth equal to
an amount which shall be the greater of (x) twenty times (20X) the Minimum Rent payable for the fiscal year in which such merger or consolidation
is consummated or (y) the net worth of Tenant immediately prior to such merger or consolidation.

 

“Alterations”
shall have the meaning given to such term in Section 6.1 of this Lease.

 

“BOMA” shall
mean the Building Office and Managers Association.

 

“Building”
shall have the meaning given such term in the Preliminary Statement.

 

“Building Holidays”
shall mean Saturday; Sunday; New Year’s Day; President’s Day; Martin Luther King Day; Memorial Day; Independence Day (including
the day before and after); Labor Day; Thanksgiving Day and the day after Thanksgiving Day; Christmas Eve and Christmas Day. Early office
closures include day before President’s Day; Friday before Memorial Day; Friday before Labor Day; and New Year’s Eve.

 

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“Business Days”
shall mean any days other than Building Holidays.

 

“Business Hours”
shall mean 5:00 a.m. to 8:00 p.m. on Mondays through Fridays and 8:00 a.m. to 1:00 p.m. on Saturdays, excluding Building Holidays.

 

“CGL” shall
have the meaning given to such term in Section 13.1 of this Lease.

 

“Commencement Date”
shall mean the later to occur of (x) the date upon which the Premises shall have been delivered by Landlord to Tenant in the Delivery
Condition or (y) March 1, 2022.

 

“Common Area”
or “Common Areas” means all areas; structures; roadways; sidewalks; parking lots; plazas; traffic lights; pumpstations;
drainage basins; swales; detention or retention ponds; sanitary sewer systems and facilities; domestic and fire water systems; fire protection
installations; electric power and telephone cables and lines and other utility connections, facilities, and other improvements (above
and below ground); elevators; halls, lobbies; delivery areas; drinking fountains; public toilets; parking facilities; lobby plantings
and interior landscaped areas; exterior landscaped areas; electrical, plumbing, and heating, ventilating and air conditioning facilities;
and all other improvements or facilities which are owned by Landlord and are now or hereafter constructed on the Real Property for use
in common by Landlord, Tenant, and other tenants located in the Building.

 

“Compensation Act”
shall have the meaning given to such term in Section 8.2 of this Lease.

 

“Event of Default”
shall have the meaning given such term in Section 18.1 of this Lease.

 

“Delivery Condition”
is defined in Section 4.1 of this Lease.

 

“Excusable Delay”
shall mean a delay caused by governmental action, or lack thereof, shortages or unavailability of materials and/or supplies, labor disputes,
strikes, slowdowns, job actions, picketing, secondary boycotts, pandemic, fire or other casualty (subject to the other applicable provisions
of this Lease), delays in transportation, acts of God, extraordinary requests of any governmental agencies or authorities, court or administrative
orders or regulations, adjustment of insurance, acts of declared or undeclared war, public disorder, riot or civil commotion, or by anything
else beyond the reasonable control of Landlord or Tenant.

 

“Fair Market Renewal
Rent” shall have the meaning given to such term in Section 33.1 of this Lease.

 

“Governmental Authority”
shall mean the township, county, state, or federal government, or any agency or quasi-governmental agency, or any fire insurance rating
organization having jurisdiction over the Real Property or the use or operation thereof, or any insurance company insuring all or any
part of the Real Property.

 

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“ISRA” shall
have the meaning given to such term in Section 8.2 of this Lease.

 

“Landlord”
shall mean the party defined as such in the first paragraph of this Lease, including at any time after the date hereof, the then owner
of Landlord’s interest in the Premises.

 

“Laws” or
 “Law” shall mean all laws, rules, regulations, and ordinances of all governmental authorities or agencies having jurisdiction
over the Premises and of all insurance bodies (including, without limitation, the Board of Fire Underwriters) at any time duly issued
or in force, applicable to the Premises or any part thereof or to Tenant’s use thereof, including, without limitation the Americans
with Disabilities Act.

 

“Lease” or
 “this Lease” consists of this Agreement of Lease and Exhibits A through L attached hereto
and made a part hereof.

 

“Lease Year”
shall mean, with respect to the first (1st) Lease Year, the period beginning on the Commencement Date and shall end on the last day of
the calendar month preceding the month in which the first (1st) anniversary of the Rent Commencement Date occurs; and 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, that the last Lease Year shall expire on the Termination Date.

 

“Lien” shall
mean any mortgage, pledge, lien, charge, encumbrance, or security interest of any kind, including any inchoate construction lien.

 

“Letter of Credit”
shall have the meaning given such term in Section 32.9 of this Lease.

 

“Minimum Rent”
shall mean the fixed rental payable pursuant to Section 1.3 of this Lease.

 

“Net Rental Proceeds”
shall mean in the case of a sublease, the amount by which the aggregate of all rents, additional charges, or other consideration payable
under a sublease to Tenant by the subtenant (including sums paid for the sale or rental of Tenant’s fixtures, leasehold improvements,
equipment, furniture, or other personal property, which sums shall reflect, at a minimum, the reasonable, fair market value of the same)
exceeds the sum of (i) the Minimum Rent plus all amounts payable by Tenant pursuant to the provisions hereof during the term of the sublease
in respect of the subleased space, (ii) brokerage commissions at prevailing rates due and owing to a real estate brokerage firm, (iii)
the cost of Alterations performed by Tenant to prepare the Premises for such subtenant or an allowance or rental abatement in lieu thereof,
and/or (iii) promotional, advertising, legal accounting, construction and related other customary and reasonable costs incurred by Tenant
in connection with the subleasing; and in the case of an assignment, the amount by which all sums and other considerations paid to Tenant
by the assignee of this Lease for or by reason of such assignment (including sums paid for the sale of Tenant’s fixtures, leasehold
improvements, equipment, furniture, or other personal property, which sums shall reflect, at a minimum, the reasonable, fair market value
of the same) exceeds the sum of (i) the Minimum Rent plus all amounts payable by Tenant pursuant to the provisions hereof during the term
of the assignment in respect of the Premises, (ii), brokerage commissions at prevailing rates due and owing to a real estate brokerage
firm, (iii) the cost of Alterations performed by Tenant to prepare the Premises for such assignee or an allowance in lieu thereof, and/or
(iii) promotional, advertising, legal accounting, construction and related other customary and reasonable costs incurred by Tenant in
connection with such assignment, and/or (iii) other customary and reasonable costs incurred by Tenant in connection with the assignment.

 

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“Non-Exclusive Spaces”
shall mean the non-exclusive, automobile spaces in the common parking area serving the Building.

 

“Premises”
shall, as of the Commencement Date, mean the portion of the first (1st) floor of the Building cross-hatched on the floor plan of the Building
attached hereto and made a part hereof as Exhibit B. The Premises, as of the Commencement Date, are comprised of twenty-six
thousand, one hundred seventy-four (26,174) square feet of Rentable Area. Landlord and Tenant stipulate and agree for all purposes under
this Lease that the Rentable Area is 26,174 square feet, notwithstanding any different measurement thereof that may be made hereafter
by or on behalf of either party.

 

“Prime Rate”
shall mean the base lending rate publicly announced from time to time by the Wall Street Journal.

 

“Property”
shall have the meaning given such term in the Preliminary Statement, as particularly described on Exhibit A attached hereto
and made a part hereof.

 

“Real Property”
shall mean collectively the Property, the Building, the Common Areas, and all other improvements located on the Property.

 

“Recapture Notice”
shall have the meaning given such term in Section 14.2(iii) of this Lease.

 

“Recapture Space”
shall have the meaning given such term in Section 14.2(iii) of this Lease.

 

“Renewal Term”
shall have the meaning given such term in Section 33.1 of this Lease.

 

“Rent Commencement
Date” shall mean the date which is five (5) months following the Commencement Date.

 

“Rentable Area”
shall be as defined by BOMA standard #ANSI Z65.1-1980 “Modified.”

 

“Rentable Area of the
Building” shall be deemed to mean, as of the Commencement Date, two hundred twenty-one thousand six hundred twenty-five (221,625)
square feet of Rentable Area.

 

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“Reserved Spaces”
shall mean the automobile spaces reserved for use by Tenant and its employees in the covered portion of the common parking area servicing
the Building, the initial location of which is set forth on Exhibit J hereto.

 

“Rules and Regulations”
shall mean the rules and regulations set forth on Exhibit E attached hereto and made a part hereof, as the same may be amended
from time to time by Landlord pursuant to the provisions of Article 29.

 

“Security Deposit”
shall have the meaning given to such term in Section 32.9 of this Lease.

 

“Spill Act”
shall have the meaning given such term in Section 8.2 of this Lease.

 

“Structural Repairs”
shall mean repairs or replacement to the roof, foundation, floors, and permanent exterior walls and support columns of the Building.

 

“Structure”
shall mean the roof, foundation, floors, and permanent exterior walls and support columns of the Building.

 

“Tenant”
shall mean the party defined as such in the first paragraph of this Lease.

 

“Tenant Improvements”
shall have the meaning given to such terms in Exhibit D of this Lease.

 

“Tenant’s First
Notice” shall have the meaning given such term in Section 14.2 of this Lease.

 

“Tenant’s Visitors”
shall mean Tenant’s agents, servants, invitees, licensees, subtenants, clients, consultants, representatives, guests, officers,
directors, members, and partners, including, without limitation, any other person or entity hired or retained by Tenant to perform services
or deliver goods, materials, or merchandise, but specifically excluding Landlord.

 

“Term” shall
mean the time period commencing on the Commencement Date and terminating on the Termination Date.

 

“Termination Date”
shall mean 11:59 p.m. on: (i) the day immediately preceding the fifth (5th) anniversary of the Rent Commencement Date, if the Commencement
Date occurs on the first day of a calendar month; or (ii) the last day of the calendar month occurring five (5) years after the Rent Commencement
Date, if the Rent Commencement Date does not occur on the first day of a calendar month; or such earlier date upon which the Term may
expire or be terminated pursuant to the provisions of this Lease or the Law.

 

“Underlying Encumbrance”
shall have the meaning given such term in Section 21.1 of this Lease.

 

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ARTICLE I

 

PREMISES; PARKING; RENT; ADDITIONAL RENT; UTILITIES

 

1.1.      Landlord,
for and in consideration of the covenants hereinafter contained and made on the part of Tenant, hereby demises and leases to Tenant, and
Tenant hereby hires from Landlord, the Premises for the Term, subject, however, to the terms and conditions of this Lease.

 

1.2.       The
leasing of the Premises to and by Tenant includes the right to the non-exclusive use of one hundred four (104) Non-Exclusive Spaces on
the Real Property, and the exclusive use of two (2) Reserved Spaces located within the parking garage deck. The total number of Non-Exclusive
Spaces provided hereunder shall be increased or decreased based on adjustments or expansions of the Premises in accordance herewith so
that the total number of parking spaces shall at all times equal four (4) for each one thousand (1,000) square feet of Rentable Area of
the Premises, but the number of Reserved Spaces hereunder shall remain unchanged. Tenant acknowledges that, in the event the foregoing
calculation regarding the total number of Non-Exclusive Spaces results in a fraction of a parking space, such calculation shall be rounded
up to the nearest whole number. Tenant shall comply with such reasonable Rules and Regulations as Landlord may promulgate from time to
time with respect to said parking. Landlord shall have the right to assign the location of said Non-Exclusive Spaces or may designate
the location of same from time to time on a non-discriminatory basis. After first designating the location of the Reserved Spaces, Landlord
shall have the right, in its reasonable discretion, to relocate such Reserved Spaces on a non-discriminatory basis provided the same remain
in the covered portion of the parking area at a substantially similar distance from Building points of access. Landlord shall post and
maintain appropriate signs on the applicable parking area surface to inform the public that such Reserved Spaces are reserved. In addition,
the leasing of the Premises to and by Tenant includes (i) the right to use in common with others entitled thereto the Common Areas, subject
to the terms and conditions of this Lease and to the Rules and Regulations; and (ii) the right to use portions of the Landlord’s
separate premises on a non-exclusive basis together with Landlord for (A) ingress and egress to and from the Premises through the garage
entrance and (B) use of the lavatories located at the locations shown on Exhibit B hereto by Tenant, its employees and invitees.

 

1.3.       Tenant
hereby covenants and agrees to pay to Landlord during the Term, at the office of Landlord, or such other place as Landlord may from time
to time designate, without any set-off, offset, abatement, counterclaim, defense, suspension, deferment, diminution of any kind or deduction
whatsoever, except as expressly provided herein, (i) the Minimum Rent specified on Exhibit C attached hereto in equal monthly
installments on the first day of each month during the Term, in advance, without notice or demand, commencing on the Rent Commencement
Date (except that the first monthly installment of Minimum Rent due hereunder shall be paid concurrently with execution of this Lease),
and (ii) all Additional Rent as herein provided, in lawful money of the United States of America at the time of payment. Except as otherwise
expressly provided herein, this Lease shall not terminate, nor shall Tenant have any right to terminate or avoid this Lease or be entitled
to the abatement of any Minimum Rent or Additional Rent payable hereunder or any reduction thereof, nor shall the obligations and liabilities
of Tenant hereunder be in any way affected for any reason. The obligations of Tenant hereunder shall be separate and independent covenants
and agreements, subject to the applicable provisions of this Lease.

 

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1.4.       If
any installment of Minimum Rent or Additional Rent is not paid on or before the date when due, Tenant shall pay to Landlord on demand
a late charge equal to the sum of: (i) interest at the Prime Rate, plus four (4%) percent per annum, which interest shall accrue
from the date any payment of Minimum Rent or Additional Rent is due until the date of payment of the same; plus (ii) an administrative
fee equal to four (4%) percent of said late payment.

 

1.5.     Except
as otherwise provided in Section 9.2 of this Lease, Tenant will contract for and will pay all charges for electricity, communications,
and other services or utilities at any time rendered or used on or about the Premises to the company providing the same before any interest
or penalty may be added thereto and will furnish to Landlord, upon request, satisfactory proof evidencing such payment. Electricity, water,
gas, communications, and other services or utilities shall be furnished to the Premises during the Term of this Lease through pipes, conduits,
risers, wiring and other facilities currently installed in the Building and connected to the Premises on or before the Commencement Date.

 

1.6.       Landlord
shall have all the rights and remedies for the collection of Additional Rent as are available to Landlord for the collection of the Minimum
Rent pursuant to the terms of this Lease.

 

1.7       Tenant
expressly understands and agrees that if Tenant is in default beyond any applicable cure or grace period prior to the Rent Commencement
Date, the abatement of Minimum Rent during the period commencing on the Commencement Date and ending on the Rent Commencement Date shall
be suspended until such default is cured and thereafter abatement of Minimum Rent shall be reinstated and continue with a corresponding
extension of the Rent Commencement Date. If this Lease shall be terminated at any time prior to the scheduled Expiration Date of the Lease,
then Tenant shall be obligated to pay to Landlord, on demand, the then-unamortized amount of all Minimum Rent that was abated for the
period between the Commencement Date and the Rent Commencement Date, assuming for purposes of this Section 1.7, that the aggregate amount
of abated Minimum Rent shall be amortized on a straight-line basis over the Term of this Lease. If the Rent Commencement Date occurs on
a date that is not the first day of a calendar month, the Minimum Rent for the calendar month in which the Rent Commencement Date occurs
shall be prorated on a per diem basis.

 

ARTICLE 2

 

OPERATING EXPENSES AND REAL ESTATE TAXES

 

2.1.       There
are no operating escalation or real estate escalation charges under this Lease. The parties acknowledge that the two and a half percent
(2.5%) annual increases in Minimum Rent as set forth on Exhibit C are in lieu of such escalation charges.

 

ARTICLE 3

 

INTENTIONALLY OMITTED

 

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ARTICLE 4

 

ACCEPTANCE; TENANT IMPROVEMENTS

 

4.1.       Except
as otherwise specifically provided in this Lease to the contrary, Tenant hereby acknowledges that Landlord does not have any obligation
to do any work on or to the Premises or to prepare the same for Tenant’s occupancy, and Tenant agrees to lease and take the Premises,
and each fixture and other item constituting a portion thereof, in the Delivery Condition (as hereinafter defined) except for latent defects,
provided that notice of any such latent defects is delivered not later than twelve (12) months after the Commencement Date (and provided
further, however, that any failure of Tenant to deliver such notice, shall not vitiate any maintenance, repair or restoration obligations
required to be performed by Landlord under the terms of this Lease). Tenant acknowledges further that Landlord (whether acting as Landlord
hereunder or in any other capacity) has not made, nor shall Landlord be deemed to have made, any representation or warranty, express or
implied, with respect to the Premises, except as otherwise provided to the contrary in this Lease. In this Lease, the term “Delivery
Condition” shall mean that (i) the Premises is vacant, free of all occupants and in otherwise “broom clean” condition
(ii) all services under this Lease are available at the Premises to Tenant and the fire sprinkler system, lighting, heating, ventilation
and air conditioning systems and electrical systems serving the Premises shall be in good operating condition, (iii) the Premises are
free of latent defects (as hereinafter defined) and all asbestos-containing materials and other Hazardous Materials; (iv) a certificate
of occupancy permitting the use of the Premises for the uses permitted hereunder (subject to modification by Tenant, to the extent required
as a result of the performance of work to be performed by Tenant) shall have been issued and shall be in effect; and (v) the Premises
have been delivered in compliance with all applicable Laws.

 

4.2.      (a)      Tenant may commence
the demising of the Premises from the balance of the premises occupied by Landlord in accordance with the demising plan annexed hereto
as Exhibit D-1 and separate, as and to the extent required, any common wiring, ducting, piping and utilities (collectively,
the “Pantry Work”). The Pantry Work shall be performed by Tenant in a good and worker-like manner and in compliance
with all applicable Laws. The Pantry Work shall be performed initially at Tenant’s sole cost and expense, which costs shall be reimbursed
by Landlord promptly following demand by Tenant after substantial completion by Tenant and presentation to Landlord of invoices, receipts,
lien waivers and other evidence of payment reasonably satisfactory to Landlord. Landlord’s obligation to reimburse Tenant for the
cost of the Pantry Work shall be in addition to Tenant’s Allowance. Tenant shall not be required to restore the Pantry Work at the
end of the Term.

 

(b)       Tenant
shall construct the Tenant Improvements (as defined in Exhibit D) in substantial accordance with the provisions of the Work
Letter attached as Exhibit D. The cost of completion of the Tenant Improvements, subject to the payment of Tenant’s
Allowance (as defined in Exhibit D) and Landlord’s contribution for the Pantry Work, shall be at Tenant’s sole
cost and expense. The Tenant Improvements shall be completed diligently and in a good and workmanlike manner in full compliance with all
Laws, free of violations of any health, safety, fire and other statutes and regulations governing the Premises and its use other than
any such violations in existence as of the Commencement Date, all of which shall be Landlord’s obligation to timely cure.

 

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4.4       Notwithstanding
the foregoing provisions of this Lease, provided Tenant has previously provided Landlord with copies of all insurance required hereunder,
Tenant shall be entitled to early access to the Premises at any time desired by Tenant prior to the Commencement Date for the (i) the
performance of the Pantry Work (as defined in this Lease), provided that no Pantry Work can proceed until copies of all applicable permits
and licenses required for such Pantry Work are delivered to Landlord; (ii) the installation of cabling, wiring, and the placement of furniture,
fixtures and equipment, and (iii) surveying, taking measurements and preparation of plans. Tenant’s early occupancy of the Premises
for the foregoing purposes shall be subject to all the terms and conditions of this Lease, other than the obligation to pay Rent, including
its indemnification obligations hereunder. Tenant’s early access to the Premises shall not advance the Commencement Date of this
Lease.

 

ARTICLE 5

 

MAINTENANCE BY TENANT AND LANDLORD

 

5.1.      (a)       Except as provided
in Section 5.2, Tenant shall take good care of the Premises throughout the Term and maintain and preserve same in good condition and repair.
Tenant shall not injure, deface, or commit waste of the Premises, including any Tenant Improvements or Alterations made thereon. All repairs,
replacements, and improvements to be done by Tenant under this Article shall be performed expeditiously, in a good and workmanlike manner,
and in compliance with all statutes, rules, ordinances, and regulations of any Governmental Authority; shall be at least equal in quality,
utility, and usefulness to the original work; shall be of first class, modern character; shall be completed free and clear of all Liens;
and shall not diminish the overall value of the Real Property.

 

(b)       Tenant
shall be responsible for all injury or damage of any kind or character to the Real Property, including, the windows; floors; walls; ceilings;
lights; and Building systems, including, without limitation, the, plumbing, fire safety, electrical and heating, ventilating, and air-conditioning
equipment; in each case, caused by Tenant’s negligence, carelessness, omission, improper conduct, willful act, or Alterations, or
the negligence, carelessness, omission, improper conduct, or willful act of Tenant’s Visitors. Landlord shall repair the same, and
Tenant shall pay the costs incurred therefor to Landlord immediately upon demand as Additional Rent.

 

5.2.       Landlord
shall maintain and repair the Common Areas, the Structure and the common working systems of the Building (including, without limitation,
the central or other shared mechanical, electrical, plumbing, communications, life-safety and other systems), at Landlord’s sole
cost and expense (subject to Section 5.1(b) hereof). Such maintenance and repair shall specifically include (i) maintenance and repairs
to the Building’s HVAC, fire safety (including without limitation, sprinklers), electrical (exclusive of starters, ballasts, and
fluorescent lamps), plumbing, or other systems to the extent that such systems service the Premises in common with other tenanted areas;
and (ii) any Structural Repairs to the Building. Notwithstanding anything to the contrary contained herein, Landlord shall be responsible
to repair or replace, at Landlord’s sole cost and expense, any latent defects in the Premises or Building. As used herein, “latent
defects” shall mean any defects which would not be discoverable upon reasonable physical inspection or testing.

 

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ARTICLE 6

 

ALTERATIONS

 

6.1.      (a)      Except as hereinafter
provided to the contrary, Tenant shall not make or perform, or permit the making or performance of any alterations or improvements, additions
or other physical changes in or about the Premises (referred to, collectively, as “Alterations”) without Landlord’s
prior consent (which consent shall not be unreasonably withheld, conditioned or delayed). Notwithstanding the foregoing, Tenant shall
have the right, without Landlord’s consent, to: (i) make decorative Alterations consisting of painting, carpeting, installation
of wall coverings, decorative millwork, installation of electrical and telecommunications cabling, wiring and outlets, installation of
lighting fixtures and other similar installations, and (ii) make interior, non-structural Alterations if such Alteration: (A) involves
a total cost of not more than Fifty Thousand and 00/100 Dollars ($50,000.00); (B) does not require a building permit to be issued
by any governmental authority to make same legally; (C) does not affect any existing building systems outside the Premises (other than
tie-ins to such systems) and does not impair or adversely affect the proper operation of any existing building systems within the Premises;
and (D) does not result in a violation of the use of the Premises permitted under this Lease. All Alterations shall be made and performed
only by contractors, subcontractors, or mechanics approved by Landlord, which approval Landlord shall not unreasonably withhold, condition
or delay. No Alterations shall be made to the partition separating the Premises and the public corridors or to the entrance doors of the
Premises, and no Alteration shall affect any part of the Building other than the Premises or adversely affect any service required to
be furnished by Landlord to Tenant or to any other tenant or occupant of the Building or reduce the value or utility of the Building.
No Alteration shall affect the outside appearance or the strength of the Building or the proper functioning of any of its structural parts.
All business machines and mechanical equipment shall be placed and maintained by Tenant in settings sufficient, in Landlord’s reasonable
judgment, to absorb and prevent vibration, noise, and annoyance to other tenants or occupants of the Building. Tenant shall submit to
Landlord detailed plans and specifications (including layout, architectural, mechanical, and structural drawings, in each case to the
extent required) for each proposed Alteration (whether requiring Landlord’s approval or not) other than purely decorative Alterations
consisting of painting, carpeting, installation of lighting fixtures and other similar installations and, except as provided above, shall
not commence any such Alteration without first obtaining Landlord’s written approval of such plans and specifications, which approval
or disapproval Landlord shall reasonably provide within seven (7) Business Days following receipt of such plans and specifications (it
being agreed that approval of revisions to such plans and specifications shall be reasonably provided within five (5) Business Days following
Landlord’s receipt of such revised plans and specifications). Prior to the commencement of each proposed Alteration, Tenant shall
furnish to Landlord duplicate original policies of workers’ compensation insurance covering all persons to be employed in connection
with such Alteration, including those to be employed by all contractors and subcontractors, and of comprehensive public liability insurance
(including property damage coverage) in which the Additional Insureds shall be named as insured, which policies shall be issued by companies,
and shall be in form and amounts as set forth on the sample insurance certificate set forth on Exhibit K hereto and shall
be maintained by Tenant until the completion of such Alteration. All electrical and air conditioning certificates, and all other permits,
approvals, and certificates required by all Governmental Authorities, other than those permits maintained by Landlord in the operation
and leasing of an office building for office purposes, shall be timely obtained by Tenant at Tenant’s expense and submitted to Landlord
(Landlord shall join in any application therefor, provided that such joinder shall be without out-of-pocket expense to Landlord and further
provided that Landlord’s joinder is required by such Governmental Authority). Notwithstanding Landlord’s approval of plans
and specifications for any Alteration and Tenant’s right to perform certain Alterations without the prior written approval of Landlord
as provided herein, all Alterations shall be made and performed in full compliance with all applicable Laws and all building codes, rules,
or regulations; all materials and equipment to be incorporated into the Premises as a result of all Alterations shall be new and first
class quality; no such materials or equipment shall be subject to any Lien; all Alterations shall be made and performed in a good and
workmanlike manner; and Tenant shall deliver to Landlord “as built” plans for any such Alteration within thirty (30) days
after completion of the same.

 

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(b)       With
respect to any proposed Alteration affecting any of the electrical, mechanical, plumbing, heating, air conditioning, ventilating or other
system of the Building, other than the connection of the Premises to such systems and the distribution of such systems within the Premises,
Landlord reserves the right to condition Landlord’s consent thereto upon the performance of said Alteration by Landlord for Tenant’s
account at a reasonable cost. If Landlord exercises such right, Tenant shall pay Landlord, as Additional Rent, the reasonable out-of-pocket
costs and expenses of said Alteration as follows: one-half of the estimated costs and expenses prior to Landlord’s commencement
of said work; and the difference between Landlord’s actual costs and expenses and the amount paid on account thereof within fifteen
(15) days after Tenant’s receipt of Landlord’s statement itemizing such costs and expenses.

 

(c)       Provided
all the conditions described in this Section 6.1 have been substantially satisfied, Landlord agrees not to unreasonably withhold, condition
or delay its consent in connection with any Alteration (other than any Alteration which adversely affects the structural integrity of
the Building or affects the proper functioning of any of the electrical, mechanical, plumbing, heating, air conditioning, ventilating
or other system of the Building, as to which Alterations Landlord may withhold its consent using its sole discretion, exercised in a commercially
reasonable manner) requiring Landlord’s consent, other than the tie-in connection of the Premises to such systems and the distribution
of such systems within the Premises.

 

(d)       Notwithstanding
anything herein to the contrary, Landlord’s (or Landlord’s engineer’s, architect’s, or other consultant’s
or contractor’s) approval of any plans, specifications, or “as built” plan shall not be deemed or construed to be a
warranty of any kind, including, but not limited to, the suitability of design or fitness of the Alteration for a particular purpose or
in relation to the Building.

 

6.2.       Tenant
shall not at any time prior to or during the Term, directly or indirectly, employ, or permit the employment of, any contractor, mechanic
or laborer in the Premises, whether in connection with any Alteration or otherwise, if such, employment will interfere or cause any conflict
with other contractors, mechanics, or laborers engaged in the construction, maintenance, or operation of the Building by Landlord, Tenant,
or others. In the event of any such interference or conflict, Tenant, upon demand of Landlord, shall cause all contractors, mechanics,
or laborers causing such interference or conflict to leave the Building immediately.

 

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6.3.       All
Alterations permanently affixed to or comprising a portion of the Building shall, upon installation, become the property of Landlord and
shall remain upon and be surrendered with the Premises, unless Landlord, by notice to Tenant no later than thirty (30) days prior to the
Termination Date or earlier expiration of this Lease, elects to relinquish Landlord’s right to any non-standard office improvements
(as hereinafter defined). In such event, Tenant shall remove such non-standard office improvements from the Premises prior to the Termination
Date or earlier expiration of this Lease at Tenant’s sole expense. Tenant shall have no obligation to remove or restore any Alterations
other than non-standard office improvements. Nothing in this Article shall be construed to give Landlord title to or to prevent Tenant’s
removal of trade fixtures or moveable office furniture and equipment. Upon removal of any such non-standard office improvements from the
Premises or upon removal of any other Alterations pursuant to this Section 6.3, Tenant shall immediately and at its expense, repair any
damage to the Premises or the Real Property incurred during such removal and restore the same in a good and workmanlike manner to its
original condition. All property permitted or required to be removed by Tenant at the end of the Term remaining on the Premises after
the Termination Date or earlier expiration of this Lease may be removed from the Premises by Landlord at Tenant’s expense and if
such property is not claimed within ten (10) days of such termination such property shall be deemed abandoned to Landlord, but no such
action shall relieve Tenant of its obligations to pay the cost and expense of removing such property from the Premises and the cost of
repairing damage arising from such removal.

 

6.4.       Notwithstanding
anything to the contrary in this Article, any fixtures, equipment, or furniture (“FEF”) furnished and installed in
any part of the Premises (whether or not attached thereto or built therein) at the sole expense of Tenant (and with respect to which no
credit or allowance shall have been granted to Tenant by Landlord and which was not furnished and installed in replacement of an item
which Tenant would not be entitled to remove in accordance with this Article) shall be and shall remain the property of Tenant and shall
be removed from the Building by Tenant not later than the Termination Date or earlier expiration of this Lease, but expressly excluding
the Included FF&E hereunder, which shall remain the property of Landlord and the non-standard office improvements, which shall be
removed if requested by Landlord as above provided. The cost of repairing any damage to the Premises or the Building arising from such
removal shall be paid by Tenant upon demand. If any fixture, equipment, or furniture which as aforesaid may or is required to be removed
by Tenant is not so removed by Tenant within the time above specified therefor, then such property may be removed from the Premises by
Landlord at Tenant’s expense and if such property is not claimed within ten (10) days of such termination such property shall be
deemed abandoned by Tenant to Landlord, but no such action shall relieve Tenant of its obligation to pay the cost and expense of removing
such property from the Premises and the cost of repairing damage arising from such removal.

 

6.5.       Landlord
reserves the right to make changes, alterations, additions, improvements, repairs, or replacements in or to the Common Areas, the Building
(including the Premises) and the fixtures and equipment therein, as well as in or to the street entrances, halls, passages, elevators,
and stairways and other parts of the Building, and to erect, maintain and use pipes, ducts, and conduits in and through the Premises,
all as it may reasonably deem necessary or desirable; provided, however, that (i) there be no unreasonable obstruction of the means of
access to the Premises or unreasonable interference with Tenant’s use of the Premises (ii) any reduction in the rentable area of
the Premises (iii) any reduction in ceiling heights and (iv) provided that any such pipes, ducts, and conduits shall be located above
the hung ceiling or concealed within existing columns in the Premises. Nothing contained in this Section shall be deemed to relieve Tenant
of any duty, obligation, or liability of Tenant with respect to making any repair, replacement, or improvement or complying with any Law
of any Governmental Authority, as more particularly set forth in this Lease, including, but not limited to, Article 6 or in Article 8.

 

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6.6       Notwithstanding
anything contained herein to the contrary, Tenant shall remove, at Tenant’s sole cost and expense, all installations made by the
Tenant that are non-standard office improvements unless Landlord notifies Tenant that such non-standard office improvements can remain
at the time Landlord grants its approval to the installation thereof or in anticipation of the Termination Date. For purposes hereof,
 "non-standard office improvements" shall mean raised flooring, interior staircases, vaults, elevators, bathrooms and
associated fixtures and plumbing, cabling and wiring for Tenant’s FEF, significant modifications to the Building's utility and mechanical
systems, and otherwise unusual configuration for first class office space. Tenant shall repair any damage to the Premises resulting from
such removal. Tenant may request Landlord perform such removal on behalf of Tenant, and if Landlord agrees in its reasonable discretion,
Tenant shall reimburse Landlord for the costs incurred in effecting such removal.

 

6.7      If
Tenant elects to install supplemental HVAC units in the Premises or in any other area consented to by Landlord in its sole discretion
(which shall be a split system separate from the Building’s HVAC system), such installation shall be situated at a location mutually
acceptable to Landlord and to Tenant and otherwise in accordance with the provisions of this Article 6 and, thereafter, Tenant shall be
solely responsible for the operation, maintenance, repair, and replacement of any such supplemental HVAC units as well as the cost of
the electricity consumed by such units. In addition, Tenant agrees to enter into a maintenance contract with a third-party contractor
(to be reasonably approved by Landlord) for such supplemental HVAC units, the cost of which shall be paid by Tenant. At Landlord’s
election, any supplemental HVAC equipment shall be left in place at the end of the Term (and if no such election is made by Landlord,
Tenant shall be responsible to remove the same on or prior to the Termination Date and to repair any damage to the Premises or Building
caused by such removal).

 

6.8       A
dispute under this Article shall be resolved by an expedited arbitration proceeding under Section 32.23 of this Lease.

 

ARTICLE 7

 

USE

 

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7.1.       The
Premises shall be used only for executive, general and administrative offices and uses ancillary to the foregoing, and for no other use
or purpose. Ancillary uses to office use may, without limitation, include: (i) conference and meeting rooms, and (ii) one or more pantries,
lunchrooms or “break rooms”, each of the foregoing being exclusively for the use of the employees, licensees, guests and invitees
of the permitted occupants of the Premises.

 

7.2.       Except
as provided in Section 7.1, Tenant shall not use, or suffer, or permit the use of, the Premises or any part thereof in any manner or for
any purpose or do, bring, or keep anything, or suffer or permit anything to be done, brought, or kept, therein (including, but not limited
to, the installation or operation of any electrical, electronic or other equipment) (i) which would violate any covenant, agreement, term,
provision, or condition of this Lease or is unlawful or in contravention of the certificate of occupancy for the Building or for the Premises,
or is a contravention of any Law to which the Building or the Premises is subject, or (ii) which would overload or could cause an overload
of the electrical or mechanical systems of the Building or which would exceed the floor load per square foot which the floor was designed
to carry and which is allowed by Law, or (iii) which, in the reasonable judgment of Landlord, may in any way impair or interfere
with the proper and economic heating or air conditioning of the Building, or (iv) which may be a nuisance, disturbance, or menace to the
other tenants of the Building, or (v) suffer or permit the Building or any component thereof to be used in any manner or anything to be
done therein or anything to be brought into or kept thereon which, in the judgment of Landlord, would in any way impair or tend to impair
or exceed the design criteria, the structural integrity, the character or the appearance of the Building, or result in the use of the
Building or any component thereof in a manner or for a purpose not intended; nor shall Tenant use or suffer or permit the use of the Premises
or any part thereof in any manner, or do, or suffer or permit the doing of, anything therein or in connection with Tenant’s business
or advertising which, in the reasonable judgment of Landlord, may be adverse to the business of Landlord.

 

7.3.       Tenant
acknowledges that Tenant shall be required to provide at least twenty-four (24) hours’ prior written notice of any oversized packages,
cargo, or other extraordinary deliveries requiring special handling brought into the Building or to the Premises. Tenant further acknowledges
that such deliveries shall be subject to any reasonable requirements imposed by Landlord, including, but not limited to, providing adequate
protection to the floors and/or the elevators. All costs associated with such protective measures and all costs arising from any damage
in connection with such deliveries shall be borne by Tenant.

 

ARTICLE 8

 

COMPLIANCE WITH LAWS AND INSURANCE REQUIREMENTS

 

8.1.       The
Premises shall be delivered to Tenant on the Commencement Date in compliance with all applicable Laws. Tenant, at its sole expense but
subject to Landlord’s obligations set forth in Section 8.5 below, shall comply with all Laws at any time duly issued or in force,
applicable to the Premises or any part thereof or to Tenant’s use thereof, including, without limitation the Americans with Disabilities
Act; however, Tenant shall have no obligation to cure or correct any illegal condition or violation in existence on the Commencement Date
and any such condition or violation shall be immediately cured and corrected by Landlord upon receipt of notice thereof. The foregoing
obligation shall include, but not be limited to, compliance with all Laws which shall impose any violation, order, or duty upon Landlord
or Tenant with respect to the Premises as a result of the use or occupancy thereof by Tenant for any purpose not authorized by the provisions
of Article 7 or the conduct by Tenant of its business in the Premises in a manner different from the ordinary or proper conduct of such
business. All Alterations that are required to comply with this Article 8 shall be made in compliance with the terms and conditions of
Article 6 of this Lease. Tenant shall not do, or permit anything to be done in or to the Premises, or bring or keep anything therein which
will, in any way, increase the cost of fire or public liability insurance on the Real Property, or invalidate or conflict with the fire
insurance or public liability insurance policies covering the Real Property, any personal property kept therein by Landlord, or obstruct
or interfere with the rights of Landlord or of other tenants, or in any other way injure Landlord or other tenants, or subject Landlord
to any liability for injury to persons or damage to property, or interfere with the good order of the Building, or conflict with the present
or future Laws of any Governmental Authority. Any increase in fire insurance premiums on the Building or its contents caused by the use
or occupancy of the Premises by Tenant and any expense or cost incurred in consequence of the negligence, carelessness, omission, improper
conduct, or willful action of Tenant, shall be Additional Rent and paid by Tenant to Landlord within (10) days of demand therefor made
by Landlord to Tenant.

 

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8.2.       Supplementing
the provisions of Sections 5.1 and 8.1, Tenant will not cause or permit any “hazardous substance” or “hazardous waste”
or “hazardous chemical”, as such terms are defined in the Industrial Site Recovery Act N.J.S.A. 13:1K-6 et seq., as amended,
(“ISRA”), the Spill Compensation and Control Act of the State of New Jersey, N.J.S.A. 58:10-23.11b et seq. (the “Spill
Act”), or the Comprehensive Environmental Responsibility Compensation and Liability Act of the United States, 42 U.S.C. 9601
et seq. (the “Compensation Act”), to be brought, kept, or stored within the Premises or any portion thereof and will
not engage in or permit any other person to engage in any activity, operation, or business upon the Premises or any portion thereof which
involves the generation, manufacture, refining, transportation, treatment, storage, handling, or disposal of hazardous substances, hazardous
wastes, or hazardous chemicals, above or below ground, or which would or could result in Tenant, Landlord, or the Premises or any portion
thereof being subject to the provisions of ISRA, the Spill Act and/or the Compensation Act; provided, however, Landlord hereby agrees
that Tenant may store and use within the Premises de minimis quantities of cleaning fluids and other products which may be deemed hazardous
substances to the extent such fluids and/or products are customarily stored and used in administrative offices so long as the storage
and/or use of such items is in compliance with all applicable Laws.

 

8.3.       Tenant
represents to Landlord that Tenant’s NAICS Number as used on Tenant’s Federal Tax Return is 541700. Tenant shall not conduct
any operations at the Premises that shall cause the Building or the Premises to be deemed an “industrial establishment” as
currently defined in ISRA or otherwise trigger ISRA. If, due to an amendment to ISRA or otherwise Tenant’s operations become subject
to ISRA during the Term of the Lease, Tenant shall comply with all ISRA requirements at Tenant’s sole cost and expense. Such expenses
shall include, but not limited to, any applicable state agency fees, engineering fees, clean-up costs, filing fees, and suretyship expenses.
In addition, in the event any other Building tenant or Landlord triggers ISRA, Tenant agrees to cooperate with Landlord and provide any
information relating to Tenant and its operations at the Premises that is needed by Landlord to comply with ISRA. The foregoing undertakings
shall survive the termination or sooner expiration of the Lease and surrender of the Premises and shall also survive the sale, lease,
or assignment of the Premises by Landlord for a period of one (1) year.

 

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8.4.      In
the event Tenant fails to comply with Sections 8.2 and/or 8.3, Tenant shall immediately furnish to Landlord evidence satisfactory to Landlord
of the cessation of such activity, operation, or business and that Tenant has complied with all applicable provisions of ISRA, the Spill
Act and/or the Compensation Act. Tenant hereby agrees to immediately provide to Landlord a copy of any correspondence, report, notice,
order, finding, declaration, or other document relating to Tenant’s obligations under and/or compliance with ISRA, the Spill Act,
and/or the Compensation Act received by Tenant from and/or submitted by Tenant to any person, entity, department, or agency. The obligations
of Tenant under Sections 8.2 and 8.3 shall survive any expiration or sooner termination of this Lease.

 

8.5.       In
the event any repairs or modifications are required to comply with any Law applicable to the Premises due to the general office use of
the same (as opposed to Tenant’s specific manner of use of the Premises), Landlord shall make such required repair or modification,
at Landlord’s sole cost and expense. In addition, Landlord shall perform all maintenance and make all repairs to the Building (including,
but not limited to, the Structure), the Property, and the Common Areas that are necessary to comply with any applicable Laws, including
the Americans with Disabilities Act.

 

8.6        Landlord
represents to Tenant that except for ordinary and typical quantities of cleaning fluids and other products which may be deemed hazardous
substances to the extent such fluids and/or products are customarily stored and used in building maintenance and only for so long as the
storage and/or use of such items is in compliance with all applicable Laws no hazardous or toxic materials are present in or about the
Building (including asbestos-containing materials). Should any such materials be discovered and should their remediation be legally required,
then unless such materials were introduced by Tenant, its agents, employees, subtenants, vendors, licensees, invitees or contractors,
Landlord shall remediate same at its expense and shall hold Tenant harmless from any cost and expense in connection therewith.

 

ARTICLE 9

 

LANDLORD’S SERVICES

 

9.1.       Landlord
shall furnish to Tenant only the services set forth in this Lease. At Landlord’s expense, heating and cooling, in accordance with
the HVAC specifications annexed to this Lease as Exhibit L, shall be provided to the Premises during Business Hours (i.e.,
5am – 8pm Monday – Friday and from 8am – 1pm on Saturdays). Cooling shall be provided from May 1 through September 30th,
and when weather conditions require as reasonably determined by Landlord. Heating shall be provided from October 1 through April 30, and
when weather conditions require heat as reasonably determined by Landlord. If Tenant requires Landlord to provide heating or cooling at
any time other than the hours provided herein for such service, Landlord shall furnish such to Tenant within forty-eight (48) hours of
Tenant’s written request therefor, and Tenant shall pay to Landlord as Additional Rent on demand, the special hourly overtime charge
which Landlord will from time to time reasonably establish therefor; provided that there is a four (4) hour minimum to any such overtime
use. Landlord hereby advises Tenant that the special hourly overtime charge for such service in effect as of the date of this Lease is
Seventy-five and 00/100 Dollars ($75.00) per hour, per zone.

 

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9.2.      (a)        Throughout the
Term, Landlord shall provide not less than six (6) watts (demand load) per rentable square foot of the Premises (exclusive of the HVAC
system) shall be supplied to the Premises from properly sized distribution panels on each floor in accordance with the provisions of Exhibit
G attached hereto and made a part hereof, subject to the terms and conditions contained therein.

 

(b)       Notwithstanding
anything to the contrary contained herein, in the event Tenant is unable to conduct its business in the Premises because of an interruption
in utility service to the Premises and such interruption extends for seven (7) or more consecutive Business Days after Landlord receives
written notice from Tenant of such condition, and such condition is within Landlord’s reasonable control to remedy, then Tenant
shall be entitled to a pro-rated abatement of Minimum Rent for such period.

 

9.3.       Tenant
covenants that its use of electricity in the Premises shall be limited to and for the operation of (1) the building standard lighting
and (2) electric typewriters, calculators, copying machines, word processors, desk-top personal computers and printers, and other small
office machines, and for no other use except with the written consent of Landlord.

 

9.4.       Tenant
shall not connect any fixtures, appliances, or equipment without the prior written consent of Landlord in each instance, which consent
shall not be unreasonably withheld or delayed to the extent not affecting the systems of the Building (in which case, which consent shall
be granted or withheld in Landlord’s sole and absolute discretion). Should Landlord grant such consent, all additional risers or
other equipment required therefor shall be provided by Landlord and the cost thereof shall be paid by Tenant as Additional Rent upon Landlord’s
demand. As a condition to granting such consent, Landlord shall require an increase in the Additional Rent by an amount which will reflect
the cost of the additional equipment and service to be furnished by Landlord. If Landlord and Tenant cannot agree on such increase, the
Additional Rent increase shall be determined by an independent electrical engineering consultant, to be selected by Landlord and whose
fee for services rendered shall be paid by Tenant upon demand and shall constitute Additional Rent.

 

9.5.       Throughout
the Term, Landlord shall supply (i) passenger and freight elevator service during Business Hours to each floor above the street floor
of the Building and in which the Premises or any portion thereof are located, with one of the elevators being subject to call during hours
other than Business Hours, (ii) hot and cold water to any lavatories within or serving the Premises, (iii) cleaning of the Common Areas
of the Building and the Premises on Business Days in accordance with the specifications annexed hereto on Exhibit F, (iv)
snow and ice removal from the parking areas, driveways, and sidewalks on Business Days within a reasonable time after accumulation thereof.

 

9.6.       Intentionally
Omitted

 

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9.7.       Subject
to Section 9.2(b) hereof and the provisions hereinafter following, the failure of Landlord to furnish any service hereunder or the interruption
of any service to the Premises shall not be construed as a constructive eviction of Tenant and shall not excuse Tenant from failing to
perform any of its obligations hereunder and shall not give Tenant any claim against Landlord for damages for failure to furnish such
service. Notwithstanding the foregoing, in the event that Tenant is prevented from using, and does not use, the Premises or any portion
thereof as a result of (i) any repair, maintenance, alteration or other work performed by Landlord (including those required or permitted
by Landlord hereunder), or which Landlord failed to perform, after the Commencement Date and required by this Lease, which substantially
interferes with Tenant’s use of or ingress to or egress from the Building, the Building parking facilities or the Premises, (ii)
any failure to provide the services, utilities, or the use of or ingress to and egress from the Building, the Building parking facilities
or the Premises, required by this Lease, or (iii) the presence of hazardous or toxic materials (not brought onto the Premises or into
the Building by Tenant, its employees, agents or contractors) in violation of applicable Law which is required to be remediated, abated,
mitigated and/or removed in accordance with applicable Law, in each case, after Landlord has failed to cure or remedy such condition within
a reasonable period following the date notice thereof is given to Landlord by Tenant (any such set of circumstances as set forth in items
(i), (ii) or (iii) above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such
Abatement Event, and, if such Abatement Event continues for seven (7) consecutive Business Days, after Landlord’s receipt of any
such notice (the “Eligibility Period”), then, so long as the cause for the Abatement Event was within the reasonable
control of Landlord, Rent shall be abated or reduced, as the case may be, after the expiration of the Eligibility Period, for such time
that such Abatement Event continues in the proportion that the rentable area of the portion of the Premises that Tenant is prevented from
using, and does not use, bears to the total rentable area of the Premises; and provided further that if such Abatement Event continues
for sixty (60) consecutive days after Landlord’s receipt of Tenant’s notice of the existence of such Abatement Event, then,
so long as such Abatement Event was caused by the negligence or willful misconduct of Landlord or its employees or agents, and the remedy
for such Abatement Event is within Landlord’s reasonable control, Tenant shall have the right to terminate this Lease by written
notice delivered to Landlord prior to the cessation of the Abatement Event.

 

9.8       Tenant
shall have 24-hour non-exclusive access to the loading dock and freight elevators servicing the Building. Exclusive use thereof must be
scheduled with Landlord at least two (2) days in advance and is subject to availability and Landlord’s then Building-standard charges
for such exclusive use; provided, however, Tenant shall have exclusive freight elevator use in connection with Tenant’s initial
construction and move-in to the Premises without charge before 7 a.m. and after 5 p.m. on Business Days. There shall be no charge to Tenant
for use of the freight elevator or the loading dock at any time during initial construction and move-in including any security and/or
engineers, subject to the reasonable needs of Landlord and other tenants, which shall be coordinated in advance with Tenant. Landlord
requires twenty-four (24) hour notice to access the freight elevators and loading docks.

 

ARTICLE 10

 

INDEMNIFICATION; LIABILITY

 

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10.1.       Tenant
shall indemnify and shall pay, defend (using counsel reasonably approved by Landlord), protect, and hold Landlord harmless against any
liability, obligation, fine, damage, penalty, claim, cost, suit, demand, charge, and/or expense of any kind or nature, including attorneys’
fees and disbursements and all post-judgment collection fees, which may be imposed upon or incurred by or asserted against Landlord for
personal injury, death, property damage, or otherwise to the extent caused by:

 

(a)      any
breach or default by Tenant of and/or under any of the terms, covenants, and conditions of this Lease; or

 

(b)     any
accident, injury, or damage caused by any omission, carelessness, improper conduct, willful act, or negligence of Tenant or Tenant’s
Visitors to any person, firm, corporation, or other entity or to any property occurring occurring during the Term, in or about the Premises,
the Building, and/or the Real Property; and including all reasonable costs, counsel fees, expenses, and penalties incurred by Landlord
in connection with any such liability or claim.

 

10.2       Landlord
shall indemnify and shall pay, defend (using counsel reasonably approved by Tenant), protect, and hold Tenant harmless against any liability,
obligation, fine, damage, penalty, claim, cost, suit, demand, charge, and/or expense of any kind or nature, including attorneys’
fees and disbursements and all post-judgment collection fees, which may be imposed upon or incurred by or asserted against Tenant for
personal injury, death, property damage, or otherwise arising from:

 

(a)        any
breach or default by Landlord of and/or under any of the terms, covenants, and conditions of this Lease; or

 

(b)     any
accident, injury, or damage caused by any omission, carelessness, improper conduct, willful act, or negligence of Landlord to any person,
firm, corporation, or other entity or to any property occurring during the Term, in or about the Building, and/or the Real Property; and
including all reasonable costs, counsel fees, expenses, and penalties incurred by Tenant in connection with any such liability or claim.

 

ARTICLE 11

 

LANDLORD’S AND TENANT’S NON-LIABILITY

 

Except to the extent of the
negligence of Landlord, its agents, employees and contractors, Landlord shall not be liable for (and Tenant shall make no claim for) any
property damage or personal injury that may be sustained by Tenant or by any other person as a consequence of the failure, breakage, leakage,
inadequacy, defect, or obstruction of the water, plumbing, steam, sewer, waste or soil pipes, roof drains, leaders, gutters, valleys,
downspouts, or the like or of the electrical, gas, power, conveyor, refrigeration, sprinkler, air conditioning, or heating systems, elevators
or hoisting equipment; or by reason of the elements; or resulting from the carelessness, negligence, or improper conduct on the part of
any other tenant of Landlord or on the part of Landlord or Tenant or Tenant’s Visitors; or attributable to any interference with,
interruption, or failure of any services or utilities to be furnished or supplied by Landlord. Tenant shall give Landlord prompt written
notice of the occurrence of any of the foregoing events.

 

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Except to the extent of the
negligence of Tenant, its agents, employees and contractors, Tenant shall not be liable for (and Landlord shall make no claim for) any
property damage or personal injury that may be sustained by Landlord or by any other person as a consequence of the failure, breakage,
leakage, inadequacy, defect, or obstruction of the water, plumbing, steam, sewer, waste or soil pipes, roof drains, leaders, gutters,
valleys, downspouts, or the like or of the electrical, gas, power, conveyor, refrigeration, sprinkler, air conditioning, or heating systems,
elevators or hoisting equipment; or by reason of the elements; or resulting from the carelessness, negligence, or improper conduct on
the part of any other tenant of Landlord or on the part of Landlord, or Landlord’s agents, employees or contractors. Landlord shall
give Tenant prompt written notice of the occurrence of any of the foregoing events.

 

ARTICLE 12

 

DISCHARGE OF LIENS

 

If, because of any act or omission
of Tenant, any Lien is filed against the Real Property, the Premises, or the Building (whether or not such Lien is valid or enforceable
as such), Tenant, at Tenant’s expense, shall cause it to be cancelled or discharged of record by bonding or otherwise within thirty
(30) days after such filing, and Tenant shall, in any event, forever indemnify and save the Additional Insureds harmless against and shall
pay all costs, expense, losses, fines and penalties, including, without limitation, attorney’s fees related thereto or resulting
therefrom.

 

ARTICLE 13

 

TENANT’S INSURANCE

 

13.1.       Tenant,
at its own expense, will maintain with insurers authorized to do business in the State of New Jersey and which are rated at least A XII
in Best’s Key Rating Guide, or any successor thereto (or if there is none, an organization having a national reputation), (a) commercial
general liability insurance (including, during any period when Tenant is making alterations or improvements to the Premises, coverage
for any construction on or about the Premises) against claims for bodily injury, personal injury, death, or property damage occurring
on, in, or about the Premises and the adjoining streets, sidewalks, and passageways, or as a result of ownership of facilities located
on the Premises, with a limit of not less than Five Million and 00/100 Dollars ($5,000,000.00) per each occurrence (the “CGL”),
such coverage to include commercial umbrella liability coverage, if necessary (If the CGL contains a general aggregate, it shall apply
separately to the Premises. The CGL shall be written on ISO occurrence form CG00011093 or a substitute providing equivalent coverage and
shall cover liability arising from the Premises, operations, independent contractors, products-completed operations, personal injury,
advertising liability, and liability under an insured contract. The commercial umbrella liability coverage shall be consistent with the
primary coverage.); (b) workers’ compensation insurance for the full statutory liability of Tenant (including employer’s liability),
(c) all risk property insurance in an amount sufficient to cover the full replacement cost of Tenant’s fixtures and other personal
property and all Alterations owned by Tenant under the terms of this Lease, and (d) such other insurance with respect to the Premises
in such amounts and against such insurable risks as may be reasonably and customarily required by any landlord of a similar building or
by any mortgagee. Accordingly, if, in the opinion of any mortgagees or ground lessors of the Real Property, the foregoing coverages and/or
limits shall become inadequate or less than that commonly maintained by prudent tenants in similar buildings in the area by tenants making
similar uses, Landlord shall have the right to require Tenant to increase its insurance coverage and/or limits.

 

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13.2.       The
policy of insurance required to be maintained by Tenant pursuant to Section 13.1 shall name as additional insured parties Landlord, any
mortgagee, any ground lessor, and any managing agent of Landlord, and their respective successors and assigns (collectively the “Additional
Insureds”) and Tenant, as their respective interests may appear; shall be reasonably satisfactory to Landlord; and shall (a) provide
(i) that thirty (30) days’ prior written notice of suspension, cancellation, termination, non-renewal or lapse, or material change
of coverage shall be given to Landlord except for cancellation due to non-payment of premium; in which case ten (10) days’ prior
written notice will be provided and (ii) that such insurance shall not be invalidated by any act or neglect of Landlord or Tenant or any
owner of the Premises, nor by any foreclosure or other proceedings or notices thereof relating to the Premises or any interest therein,
nor by any change in the title or ownership of the Premises, nor by occupation of the Premises for purposes more hazardous than are permitted
by such policy; (b) not contain a provision relieving the insurer thereunder of liability for any loss by reason of the existence of other
policies of insurance covering the Premises against the peril involved, whether collectible or not, and (c) include (i) a contractual
liability endorsement evidencing coverage of Tenant’s obligation to indemnify Landlord pursuant to Section 10 hereof, (ii) a broad
form liability endorsement and (iii) an automobile endorsement (covering owned and non-owned automobiles).

 

13.3.       Prior
to any entry on the Premises, Tenant shall deliver to Landlord original or duplicate policies or certificates of the insurers evidencing
all the insurance which is required to be maintained hereunder by Tenant and naming the Additional Insureds, and, within thirty (30) days
prior to the expiration of any such insurance, other original or duplicate policies or certificates evidencing the renewal of such insurance.

 

13.4.       Tenant
shall not obtain or carry separate insurance concurrent in form or contributing in the event of loss with that required by Section 13.1,
unless both Tenant and the Additional Insureds are named as insured and additional insureds, respectively, therein.

 

13.5.        Landlord
covenants and agrees that throughout the Term it will maintain property insurance (or self-insurance) with respect to the Building and
Property (excluding any property with respect to which Tenant is obligated to insure pursuant to Subsection 13.1 above) against physical
damage for the full replacement cost of the Building, and general liability insurance against all claims for bodily injury, personal injury
and property damage arising out of all operations on an “occurrence” basis and for not less than $5,000,000 combined single
limit per occurrence for bodily injury, death, and property damage liability. The policy of general liability insurance required to be
maintained by Landlord shall name as additional insured parties Tenant, and Tenant’s officers and directors. Landlord will not carry
insurance of any kind on Tenant's furniture or furnishings, or on any fixtures, equipment, appurtenances or improvements of Tenant under
this Lease and Landlord shall not be obligated to repair any damage thereto or replace the same except to the extent that such damage
results from landlord’s negligence or misconduct.

 

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ARTICLE 14

 

ASSIGNMENT AND SUBLETTING

 

14.1.

 

(i)       Tenant
expressly covenants that it shall not by operation of law or otherwise assign, encumber or mortgage this Lease in whole or in part, nor
sublet or suffer or permit the Premises or any part thereof to be used by others, without the prior written consent of Landlord in each
instance (which consent will not be unreasonably withheld, conditioned or delayed) except as hereinafter provided to the contrary, and
any attempt by Tenant to assign, sublet, encumber or mortgage this Lease shall be null and void. Except as hereinafter provided to the
contrary, for the purposes of this Article 14, a sale, pledge, hypothecation, assignment, transfer, exchange, or other disposition of
(i) any of the issued and outstanding capital stock of Tenant, if Tenant is a corporation, or of any corporation which directly or indirectly
controls Tenant, or of any corporate partner in Tenant if Tenant is a partnership, or of any corporate guarantor of all or any of Tenant’s
obligations under this Lease, or (ii) all or a part of the partnership interest of any general partner in Tenant if Tenant is a partnership,
or of any general partner in any partnership which is the guarantor of all or any of Tenant’s obligations under this Lease, or (iii)
any undivided interest in this Lease if Tenant is a co-tenancy, or (iv) all or a part of the membership interest of any managing member
in Tenant if Tenant is a limited liability company, shall be deemed to be an assignment of this Lease which is subject to the provisions
of this Article 14. Except as hereinafter provided to the contrary, the issuance of additional stock or the issuance of additional partnership
or membership interests or the substitution of any partnership or membership interest shall be deemed a disposition of issued and outstanding
capital stock or a disposition of a partnership or membership interest, as the case may be, for the purposes of the preceding sentence.
For the purposes of this Article 14, a joint venture shall be deemed to be a partnership and a joint venturer a partner.

 

(ii)       The consent by Landlord
to any assignment, mortgage, encumbrance, subletting, or use of the Premises by others shall not constitute a waiver of Landlord’s
right to withhold its consent to any other or further assignment, mortgage, encumbrance, sublet, or use of the Premises by others. Except
as hereinafter provided to the contrary, without the prior written consent of Landlord (which consent will not be unreasonably withheld,
conditioned or delayed), this Lease shall not pass by operation of law or otherwise to anyone other than the potential transferees described
in Section 14.9 of this Article 14, and shall not be subject to garnishment or sale under execution in any suit or proceeding which may
be brought against or by Tenant. The absolute and unconditional prohibitions contained in this Section and Tenant’s agreement thereto
are material inducements to Landlord to enter into this Lease with Tenant, and any breach thereof shall constitute a material default
hereunder permitting Landlord to exercise all remedies provided for herein or by law or in equity on a default of Tenant.

 

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(iii)       If
Tenant’s interest in this Lease is assigned or if the Premises or any part thereof are sublet to, or occupied by, or used by, anyone
other than Tenant, whether or not in violation of this Article 14, Landlord may accept from any assignee, sublessee, or anyone who claims
a right to the interest of Tenant under this Lease or who occupies any part(s) or the whole of the Premises the payment of Minimum Rent
and Additional Rent and/or the performance of any of the other obligations of Tenant under this Lease, but such acceptance shall not be
deemed to be a waiver by Landlord of the breach by Tenant of the provisions of this Article 14, nor a recognition by Landlord that any
such assignee, sublessee, claimant, or occupant has succeeded to the rights of Tenant hereunder, nor a release by Landlord of Tenant from
further performance by Tenant of the covenants on Tenant’s part to be performed under this Lease; provided, however, that the net
amount of Minimum Rent and Additional Rent collected from any such assignee, sublessee, claimant, or occupant shall be applied by Landlord
to the Minimum Rent and Additional Rent to be paid hereunder.

 

(iv)       Tenant
agrees to pay to Landlord all reasonable out-of-pocket fees, costs and expenses, including, but not limited to, reasonable attorneys’
fees and disbursements, incurred by Landlord in connection with any proposed assignment of this Lease and any proposed sublease of the
Premises, not to exceed $2,500.

 

14.2.

 

(i)       If
Tenant desires to assign this Lease or sublet all or any part of the Premises, Tenant shall submit to Landlord a written notice (“Tenant’s
First Notice”) setting forth in reasonable detail: (1) the name and address of the proposed assignee or subtenant; (2) the then
contemplated basic business terms of the proposed assignment or subletting, including any letter of intent or term sheet; and (3) such
information as to the proposed assignee’s or subtenant’s financial condition and general reputation as Landlord may reasonably
require in accordance with its historical practice.

 

(ii)       Within
fifteen (15) days after Landlord’s receipt of Tenant’s First Notice (or such later date as Tenant may supply any information
required by Landlord in accordance with Section 14.2(i)(3), as applicable), Landlord agrees that it shall notify Tenant whether Landlord
(x) consents to the proposed assignee or subtenant, (y) does not consent to the proposed assignee or subtenant, or (z) elects to exercise
its recapture right, as described in clause (iii) of this Section 14.2. Landlord shall not be deemed to have unreasonably withheld its
consent to a proposed assignee or subtenant if (1) the proposed assignee or subtenant is a party then occupying space in the Building
or a party who has negotiated with Landlord for comparable space in the Building within the six (6) month period preceding the date of
Tenant’s First Notice; (2) the proposed assignee’s or subtenant’s primary business is the sale of insurance or insurance-related
products or services, (3) the proposed assignee or subtenant is entitled to sovereign immunity, or (4) the proposed subtenant or assignee
shall, in Landlord’s reasonable discretion, have a financial condition which is insufficient to meet the financial obligations under
the assignment or sublease, as applicable, or be engaged in a business, or propose to use the Premises in a manner which is not in keeping
with the standards in such respects of the other tenancies in the Building. In connection with a proposed assignment of this Lease or
a proposed sublet of all or a portion of the Premises, if Landlord fails to exercise its recapture right and Landlord has consented to
the proposed assignee or subtenant, Tenant may proceed to negotiate and execute the proposed assignment or sublease, subject to the provisions
of clause (vi) of this Section 14.2.

 

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(iii)       If
Tenant shall propose to assign its interest in this Lease or to sublet 50% or more of the rentable area of the Premises for all or substantially
all of the remaining Term of this Lease, Landlord shall have the right, to be exercised by giving written notice (the “Recapture
Notice”) to Tenant within fifteen (15) days after receipt of Tenant’s First Notice, to recapture the space described in
Tenant’s First Notice (the “Recapture Space”). The Recapture Notice shall cancel and terminate this Lease with
respect to the space described therein as of the later to occur of (1) the fifth (5th) Business Day following the proposed
Commencement Date stated in Tenant’s First Notice, or (2) thirty (30) days following Tenant’s receipt of the Recapture Notice,
in each case, as if that date had been herein definitively fixed as the Termination Date, and Tenant shall surrender possession of the
Recapture Space as of such date in accordance with the provisions of this Lease relating to surrender of the Premises. Unless the Recapture
Space covers all of the Premises demised under this Lease, in which event this Lease shall terminate and come to an end, all Rent shall
be reduced in the same proportion as the Recapture Space and any portion of the Premises taken for use as a common corridor or other common
area bears to the total Premises prior to such recapture.

 

(iv)       In
the event Landlord elects to exercise its recapture right and the Recapture Space is less than the entire Premises, then Landlord shall
have the right to make any reasonable alterations to the Recapture Space required, in Landlord’s judgment, to make the Recapture
Space a self-contained rental unit with access through corridors to the elevators and toilets serving such space, which alterations shall
be at Tenant’s cost and expense if Tenant would have had to construct (or contribute funds to construct) such self-contained rental
unit pursuant to the Tenant’s First Notice, but otherwise at Landlord’s cost and expense. At Landlord’s request, Tenant
shall execute and deliver an agreement, in form satisfactory to Landlord, setting forth any modifications to this Lease contemplated or
resulting from the operation of this Section; however, neither Landlord’s failure to request such agreement nor Tenant’s failure
to execute such agreement shall vitiate the effect of any cancellation pursuant to this Section.

 

(v)       No
assignment or sublease shall be permitted if, as of the day immediately preceding the proposed commencement date of such assignment or
sublease, Tenant is in default under this Lease beyond any applicable notice and cure period.

 

(vi)       Following
execution of the proposed assignment or sublease, as applicable, by all parties thereto, Tenant shall submit to Landlord a written notice
(“Tenant’s Consent Request”) setting forth: (1) any material deviations from Tenant’s First Notice provided
hereunder; (2) a photostatic copy of the executed assignment or sublease; and (3) if approval thereof is desired by Tenant, a summary
of plans and specifications for revising the floor layout of the Premises, if applicable. Within fifteen (15) days following Landlord’s
receipt of Tenant’s Consent Request (which fifteen (15) day period may be extended for a reasonable period of time not to exceed
fifteen (15) days if Landlord consults an outside architect or engineer to review any plans and specifications provided by Tenant, at
its election), Landlord agrees it shall approve such assignment or sublease unless there has been a change in the identity of the subtenant
or assignee or a material deviation in the basic business terms presented in Tenant’s First Notice. If there has been a change in
the identity of the subtenant or assignee or a material deviation in the basic business terms presented in Tenant’s First Notice,
Landlord may inform Tenant that Landlord’s response to Tenant’s Consent Request shall constitute a Recapture Notice to Tenant
with respect to the Recapture Space contemplated by the proposed assignment or sublease (and if such Recapture Notice is given, clauses
(iii) and (iv) of this Section 14.2 shall apply). If there has been a change in the identity of the subtenant or assignee or a material
deviation in the basic business terms presented in Tenant’s First Notice and Landlord elects not to exercise its right to recapture
consistent with the provisions of Section 14.2(iii) above, Landlord shall not unreasonably withhold its consent to the assignment or sublet
proposed in Tenant’s Consent Request, and shall grant or withhold such consent within the aforementioned fifteen (15) day period
(and, without limiting the foregoing, Landlord may withhold its consent if Tenant shall have publicly advertised the availability for
assignment, sublease, or occupancy of all or any part of the Premises at a rental rate which is materially less than the rental rate at
which Landlord is then offering to lease similar space in the Building (although it may conclude an assignment or sublease)). In this
clause (vi), a “a material deviation in the basic business terms presented in Tenant’s First Notice” shall mean that
the net effective rental terms vary by more than 10% from those proposed in Tenant’s First Notice.

 

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(vii)       Tenant
may elect to forego providing a Tenant’s First Notice hereunder, and to instead present Landlord a Tenant’s Consent Request
which incorporates all of the elements of a Tenant’s First Notice hereunder, and if so elected, all references in this Article 14
to Tenant’s First Notice shall be deemed to refer to such Tenant’s Consent Request made, except that Landlord shall have a
period of thirty (30) days following receipt of such Tenant’s Consent Request to approve or deny such assignment or sublease, or
to exercise its recapture rights hereunder, as applicable.

 

(viii)        An
assignment or sublease covered by the provisions of Section 14.9 shall not be subject to this Section.

 

14.3.

 

(i)          If
Landlord shall consent to a sublease or an assignment pursuant to the request from Tenant, Tenant shall cause to be executed by its assignee
or subtenant an agreement to perform faithfully and to assume and be bound by all of the terms, covenants, conditions, provisions, and
agreements of this Lease for the period covered by the assignment or sublease and to the extent of the space sublet or assigned. An executed
counterpart of each sublease or assignment and assumption of performance by the sublessee or assignee, in form and substance approved
by Landlord, shall be delivered to Landlord within five (5) days prior to the commencement of occupancy set forth in such assignment or
sublease; no such assignment or sublease shall be binding on Landlord until Landlord has received such counterpart as required herein.

 

(ii)         If
Landlord shall give its consent to any assignment of this Lease or to any sublease, Tenant shall in consideration therefor pay to Landlord,
as Additional Rent, fifty percent (50%) of all Net Rental Proceeds, of whatever nature, payable to Tenant by the prospective assignee
or sublessee immediately upon receipt thereof. An assignment or sublease covered by the provisions of Section 14.9 shall not be subject
to this Section.

 

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14.4.      No
assignment of this Lease (except in the case of a merger or other corporate consolidation in which another company has succeeded to Tenant’s
interest under this Lease as the successor thereof) nor any sublease of all or any portion of the Premises shall release or discharge
Tenant from any liability, whether past, present, or future, under this Lease, and Tenant shall continue to remain primarily liable under
this Lease.

 

14.5.       Tenant
shall be responsible for obtaining all permits and approvals required by any governmental or quasi-governmental agency in connection with
any assignment of this Lease or any subletting of the Premises, and Tenant shall deliver copies of these documents to Landlord prior to
the commencement of any work, if work is to be done. Tenant is also responsible for and is required to reimburse Landlord for all fees,
costs, and expenses, including, but not limited to, reasonable out-of-pocket attorneys’ fees and disbursements, which Landlord incurs
in reviewing any permits, approvals, and applications for construction within the Premises.

 

14.6.       Intentionally
Deleted

 

14.7.       Tenant
agrees that Landlord shall not be liable in damages or subject to liability by reason of Landlord’s failure or refusal to grant
its consent to any proposed assignment of this Lease or subletting of the Premises, and that except to the extent that Landlord’s
denial or withholding of its consent is deemed in bad faith, Tenant’s sole remedy for such failure or refusal shall be the remedy
of specific performance. A dispute under this Article shall be resolved by an expedited arbitration proceeding under Section 32.23 of
this Lease.

 

14.8.       Unless
Landlord unreasonably withholds, delays or conditions its consent to any sublease or assignment, if Landlord withholds its consent of
any proposed assignment or sublease, Tenant shall defend (using counsel reasonably approved by Landlord), indemnify, and hold Landlord
harmless from and reimburse the Additional Insureds for all liability, damages, costs, fees, expenses, penalties, and charges (including,
but not limited to, reasonable attorneys’ fees and disbursements) arising out of any claims that may be made against the Additional
Insureds by any brokers or other persons claiming a commission or similar compensation in connection with the proposed assignment or sublease.

 

14.9.       Notwithstanding
anything in this Article 14 to the contrary, Landlord agrees that Tenant shall have the right, without obtaining Landlord’s prior
consent or being subject to Landlord’s recapture or profit sharing rights, to (i) assign this Lease or (ii) to sublease the Premises
in its entirety (and not only a portion thereof) to an Affiliate. Tenant acknowledges, however, that all terms and conditions of Section
14.1(ii), 14.1(iii), 14.2(i), 14.2(v), 14.3(i), 14.4, and 14.5 shall apply to such assignment or sublease. In the event of any assignment
or sublease to an Affiliate, Landlord shall have no right to receive any rent received by Tenant in excess of the Minimum Rent and Additional
Rent payable by Tenant to Landlord under this Lease. Additionally and notwithstanding anything in this Article 14 to the contrary, Tenant
may, without Landlord's prior consent and without being subject to Landlord’s recapture or profit sharing rights, assign or transfer
its right, title and interest in this Lease or sublease the Premises to any of the following: (i) any entity resulting from a merger or
consolidation with Tenant (provided the successor entity has a net worth at the time of the transfer that is at least equal to twenty
times (20X) the Minimum Annual Rent due for the immediately preceding calendar year; or (ii) any entity succeeding to the business and
assets of Tenant (including a sale of all or substantially all of the Tenant’s assets) or to an entity that acquires a controlling
interest in Tenant or acquires all or substantially all of the stock or other beneficial interests in Tenant in a transaction that is
for a good business purpose and not principally for the purpose of transferring this Lease. For purposes of the foregoing, the term “control”
shall mean (x) in the case of a corporation, ownership or voting control, directly or indirectly, of at least fifty one percent (51%)
of all the voting stock, and in case of a joint venture, partnership, LLC or similar entity, ownership, directly or indirectly, of at
least fifty one percent (51%) of all the general or other partnership, membership (or similar) interests therein or (y) the possession
of power to direct or cause the direction of the management and policy of such corporation or other entity, whether through the ownership
of voting securities, partnership interests, membership interests, similar interests, or by statute or by contract. Promptly following
the effectiveness of any such transfer, Tenant shall provide to Landlord copies of all pertinent transfer documents and such other information
pertaining thereto as Landlord may reasonably request, except as prohibited by applicable Laws, including applicable securities laws and
regulations. Additionally, Landlord’s prior consent or notice to Landlord shall not be required for the transfer of Tenant’s
stock over a national securities exchange, including, but no limited to, the NYSE, the NASDAQ Stock Market or the NASDAQ Small Cap Market
System, or for the infusion of additional equity capital in Tenant or a public or private offering of equity securities of Tenant under
the Securities Act of 1933, as amended. Tenant shall deliver to Landlord a fully executed, photostatic copy of the assignment or sublease
agreement within ten (10) days of the date of execution of such item.

 

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ARTICLE 15

 

DAMAGE BY FIRE OR OTHER CASUALTY

 

15.1.       If
the Building or the Premises shall be partially or totally damaged or destroyed by fire or other cause, then, whether or not the damage
or destruction shall have resulted from the fault or neglect of Tenant (and if this Lease shall not have been terminated as in this Article
15 hereinafter provided), Landlord shall repair the damage and restore and rebuild the Building and/or the Premises to substantially the
same condition as existed prior to such damage or destruction, at its expense, with reasonable dispatch after notice to it of the damage
or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant’s fixtures, personal property,
or any Alterations owned by Tenant pursuant to the terms of this Lease, and Tenant hereby acknowledges that Landlord will not be carrying
any insurance of any kind on the foregoing items belonging to Tenant. If the Premises are damaged by fire or other cause, Tenant, at its
own expense, shall remove such of its furniture and other belongings from the Premises as Landlord shall require in order to repair and
restore the Premises.

 

15.2.       If
the Building or the Premises shall be partially damaged or partially destroyed by fire or other cause, the rents payable hereunder shall
be abated to the extent that the Premises shall have been rendered unusable to Tenant in the conduct of its business and for the period
from the date of such damage or destruction to the date the damage shall be repaired or restored; provided, however, that if Landlord
is able to relocate Tenant to other comparable space in the Building during the period of any such restoration of the Building or Premises
at Landlord’s sole cost and expense, then Rent shall only equitably abate to the extent of any reduction in square footage available
to Tenant in such replacement space. If the Premises or a major part thereof shall be totally damaged or destroyed or rendered completely
unusable to Tenant in the conduct of its business on account of fire or other cause, the rents shall completely abate as of the date of
the damage or destruction and until Landlord shall repair, restore, and rebuild the Building and the Premises, provided, however, that
should Tenant reoccupy a portion of the Premises for the conduct of Tenant’s business operations during the period the restoration
work is taking place and prior to the date that the same are made completely tenantable, rents allocable to such portion shall be payable
by Tenant from the date of such occupancy. Notwithstanding anything to the contrary contained herein, Tenant shall not be entitled to
any abatement of the rents payable hereunder if such damage or destruction is attributable to the acts, omission, or negligence of Tenant
or Tenant’s Visitors.

 

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15.3.       If
the Building shall be totally damaged or destroyed by fire or other cause, or if the Building shall be so damaged or destroyed by fire
or other cause (whether or not the Premises are damaged or destroyed) as to require a reasonably estimated expenditure of more than twenty-five
(25%) percent of the full insurable value of the Building immediately prior to the casualty and Landlord reasonably determines that the
damage would take more than two hundred seventy (270) days to repair and restore, or if 50% or more of the Premises shall be totally damaged
or destroyed by fire or other casualty, or if the Premises or a major part thereof shall be partially damaged or destroyed by fire or
other casualty during the last twelve (12) months of the Term, then, notwithstanding anything elsewhere provided in this Article 15, Landlord
may terminate this Lease by giving notice to Tenant within sixty (60) days after the date of the casualty. If Landlord elects to exercise
said termination right, said notice shall be deemed effective as of the thirtieth (30th) day after the date of the giving of such notice,
and this Lease and the Term hereof shall expire as of said thirtieth (30th) day as if said date were the date originally set forth herein
as the Termination Date.

 

15.4.       In
case of any damage or destruction mentioned in this Article 15, Tenant may terminate this Lease, by notice to Landlord, (i) if 25% or
more of the rentable area of the Premises shall be partially damaged or destroyed by fire or other casualty during the last twelve (12)
months of the Term or (ii) if Landlord and Tenant reasonably determine the Premises and the portions of the Building which are reasonably
necessary for the use of the Premises are not reasonably capable of restoration within nine (9) months from the date of such damage or
destruction, or (iii) if Landlord has not completed the making of the required repairs and restored and rebuilt the Premises and the portions
of the Building which are reasonably necessary for the use of the Premises within nine (9) months from the date of such damage or destruction,
or within an additional period after such nine (9) month period as shall equal the aggregate period Landlord may have been delayed in
doing so by an Excusable Delay; provided, however, that Landlord may vitiate any such termination by completing the required repairs and
restoration within thirty (30) days after receipt of Tenant’s notice of termination hereunder.

 

15.5.       No
damages, compensation, or claim shall be payable by Landlord for inconvenience, loss of business, or annoyance arising from any repair
or restoration of any portion of the Premises or of the Building pursuant to this Article. If Landlord undertakes to restore the Premises
and/or the Building under this Article 15, then Landlord shall use commercially reasonably efforts to effect such repair or restoration
promptly and in such manner as to not unreasonably interfere with Tenant’s use and occupancy.

 

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15.6.      Notwithstanding
any of the foregoing provisions to the contrary, Landlord’s obligation to repair the damage and restore and rebuild the Building
and/or the Premises pursuant to this Article shall be subject to the obtaining of all necessary approvals from the Governmental Authorities
and subject further to the approval and consent of the holder of any superior mortgage or the lessor of any superior lease and the willingness
of such mortgagee and lessor to make the proceeds of casualty insurance policies available to Landlord for such purposes.

 

15.7.       Tenant
waives the benefit of New Jersey Revised Statutes, Title 46, Chapter 8, Sections 6 and 7 and agrees that Tenant will not be relieved of
the obligations to pay the Minimum Rent or any Additional Rent in case of damage to or destruction of the Building, except as provided
by this Lease.

 

15.8       A
dispute under this Article shall be resolved by an expedited arbitration proceeding under Section 32.23 of this Lease.

 

ARTICLE 16

 

WAIVER OF CLAIMS;

MUTUAL WAIVER OF SUBROGATION

 

Landlord and Tenant waive all
rights of recovery against each other and the Additional Insureds for any loss, damages, or injury of any nature whatsoever to property
for which the waiving party is required to be insured. In addition, each insurance policy carried by Landlord insuring the Real Property
against loss by fire and causes covered by standard extended coverage, and each insurance policy carried by Tenant and insuring the Premises
and its fixtures and contents against loss by fire and causes covered by the policies required herein shall be written in a manner so
as to provide that the insurance company waives all right of recovery by way of subrogation against Tenant or Landlord, respectively,
in connection with any loss or damage covered by such policies. If the release of either Landlord or Tenant, as set forth in the second
sentence hereof shall contravene any Law with respect to exculpatory agreements, the liability of the party in question shall be deemed
not released but shall be deemed secondary to the latter’s insurer.

 

ARTICLE 17

 

CONDEMNATION

 

17.1.       If
the Premises, in their entirety, are acquired or condemned by eminent domain or condemnation proceedings; or if a suit or other action
shall be instituted for the taking or condemnation therefor; or if in lieu of any formal condemnation proceedings or actions, Landlord
shall grant an option to purchase and/or shall sell and convey the Premises, or the Building, or Real Property of which the Premises form
a part to any governmental or other public authority, agency, body or public utility seeking to take said Real Property, Building, and/or
Premises or any portion thereof; the Term shall cease and terminate from the date of title vesting pursuant to such proceeding or agreement.
If a substantial portion of the parking area is condemned or acquired and Landlord is unable to provide other parking for Tenant (reasonably
acceptable to Tenant) within thirty (30) days after the effective date of such condemnation or taking, then Tenant shall have the option
to terminate this Lease by notice given to Landlord after the expiration of said thirty (30) day period.

 

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17.2.       If
only a portion of the Premises shall be so condemned or acquired, this Lease shall cease and terminate at Landlord’s or Tenant’s
option, and if such option is not exercised by Landlord or Tenant, as applicable, an equitable adjustment based on the remaining square
footage of the Premises of the Minimum Rent and Additional Rent payable by Tenant for the remaining portion of the Premises shall be made.

 

17.2.       If
a termination occurs under this Article 17, Tenant shall have no claim against Landlord or the condemning authority for the value of the
unexpired Term, and Tenant shall have no claim against Landlord, other than for the adjustment of the Minimum Rent and Additional Rent
as hereinbefore mentioned, and shall not be entitled to any portion of any amount that may be awarded as damages or paid as a result of
such proceedings or as the result of any agreement made by the condemning authority with Landlord. Tenant may make an independent claim
in such proceedings for its personalty, trade fixtures and moving expenses only, provided, however, that any such claim shall in no way
affect any portion of any award which Landlord or the holder of any mortgage affecting the Premises or the Real Property shall be entitled
to receive.

 

17.3        A
dispute under this Article shall be resolved by an expedited arbitration proceeding under Section 32.23 of this Lease.

 

ARTICLE 18

 

DEFAULT

 

18.1.       If
during the Term any one or more of the following acts or occurrences (any one of such occurrences or acts being hereinafter called an
 “Event of Default”) shall happen:

 

(i)         If
Tenant shall default in making the payment of any installment of Minimum Rent or the Additional Rent or default in any other way curable
by the payment of money, as and when the same shall be due and payable, and such default shall continue for five (5) Business Days following
the due date for such payment; or

 

(ii)         If
Tenant assigns this Lease or sublets the Premises except in the manner permitted under Article 14; or

 

(iii)       If
Tenant shall file a voluntary petition in bankruptcy or shall be adjudicated a bankrupt or insolvent, or shall file any petition or answer
seeking any reorganization, composition, readjustment, liquidation, dissolution, or similar relief under any present or future bankruptcy
or other applicable Law, or make an assignment for the benefit of its creditors, or shall seek or consent to or acquiesce in the appointment
of any trustee, receiver, custodian, or liquidator of Tenant or of all or any substantial part of its properties or of all or any part
of the Premises; or

 

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(iv)       If
within sixty (60) days after the filing of an involuntary petition in bankruptcy against Tenant or the commencement of any proceeding
against Tenant seeking any reorganization, composition, readjustment, liquidation, dissolution, or similar relief under any present or
future bankruptcy or other applicable Law, and such proceeding shall not have been dismissed; or if, within sixty (60) days after the
appointment (without the consent or acquiescence of Tenant) of any trustee, receiver, custodian, or liquidator of Tenant, or of all or
any substantial part of the properties of Tenant or of all or any part of the Premises, and such appointment shall not have been vacated
or stayed on appeal or otherwise discharged; or if, within sixty (60) days after the expiration of any such stay, such appointment shall
not have been vacated; or if within sixty (60) days after the taking of possession (without the consent or acquiescence of Tenant) of
the property of Tenant by any governmental office or agency pursuant to statutory authority for the dissolution or liquidation of Tenant,
such taking shall not have been vacated or stayed on appeal or otherwise discharged; or

 

(v)         If
the Premises shall be abandoned for a period of thirty (30) days or more; or

 

(vi)       If
Tenant shall default in the observance or performance of or compliance with any of the other covenants, agreements, terms, or conditions
of this Lease to be observed or performed by Tenant (other than any default specifically referred to in this Section 18.1), and such default
shall continue for a period of thirty (30) days after written notice thereof from Landlord to Tenant, or, in the case of a default which
cannot with due diligence be cured within thirty (30) days, Tenant shall fail to commence within said period of thirty (30) days, or shall
fail to thereafter diligently prosecute to completion all steps necessary to remedy such default (it being intended that as to a default
not susceptible of being cured with due diligence within thirty (30) days, the time within which such default may be cured shall be extended
for such period as may be reasonably necessary to permit the same to be cured with all due diligence, but not to exceed ninety (90) days
following the date of the notice of default);

 

then, upon the occurrence of any one or more of
such Events of Default, Landlord may exercise the rights set forth in Article 19 of this Lease or otherwise provided at law or in equity.

 

18.2.       Intentionally
Omitted.

 

18.3.       Landlord
shall be in default of this Lease if it fails to perform any obligation of Landlord under this Lease and if such failure is not cured
within thirty (30) days after written notice thereof is given by Tenant to Landlord; however, if said failure cannot reasonably be cured
within thirty (30) days, Landlord shall not be in default of this Lease if Landlord commences to cure the failure within the thirty (30)
day period and diligently continues to cure the default. If Landlord does not cure a default in accordance with the foregoing time periods,
Tenant shall give to Landlord’s first mortgagee(s), if any, notice of such default (in addition to the notice required to be given
pursuant to Article 21) and an additional cure period equal to that specified above for Landlord. If such default remains uncured after
the expiration of the first mortgagee’s cure period, if any, Tenant may cure the default at Landlord’s expense. If Tenant
pays any reasonable sum in order to cure Landlord’s default, such reasonable sum shall be reimbursed by Landlord to Tenant upon
thirty (30) days’ written notice, which notice shall include supporting documentation. If Landlord fails to so reimburse Tenant
and if the existence of the default is not being disputed by Landlord, Tenant may withhold from future Minimum Rent payments due and owing
the sum owed to Tenant. If the default is being disputed by Landlord, Tenant may not offset its rent obligations until the existence of
Landlord’s default and Tenant’s entitlement to reimbursement hereunder has been established by the judgment of a court of
competent jurisdiction.

 

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ARTICLE 19

 

LANDLORD’S RIGHTS UPON TENANT’S DEFAULT

 

19.1.       If
any Event of Default occurs, Landlord may, notwithstanding the fact that Landlord may have other remedies hereunder or at law or in equity,
by notice to Tenant, designate a date, not less than five (5) Business Days after the giving of such notice, on which this Lease shall
terminate; and thereupon, on such date the Term of this Lease and the estate hereby granted shall expire and terminate with the same force
and effect as if the date specified in such notice was the Termination Date, and all rights of Tenant hereunder shall expire and terminate
but Tenant shall remain liable as provided in this Lease, and Landlord shall have the right to remove all persons, goods, fixtures, and
chattels from the Premises, by force or otherwise, without liability or damages to Tenant.

 

19.2.       If
this Lease is terminated as provided in Section 19.1, or as permitted by Law, Tenant shall peaceably quit and surrender the Premises to
Landlord, and Landlord may, without further notice, enter upon, re-enter, possess, and repossess the same by summary proceedings, ejectment,
or other legal proceeding, and again have, repossess and enjoy the same as if this Lease had not been made, and in any such event neither
Tenant nor any person claiming through or under Tenant by virtue of any Law or an order of any court shall be entitled to possession or
to remain in possession of the Premises but shall forthwith quit and surrender the Premises, and Landlord at its option shall forthwith,
notwithstanding any other provision of this Lease, be entitled to recover from Tenant as and for damages either:

 

(i)       an
amount equal to all Minimum Rent and Additional Rent (conclusively presuming the Additional Rent to be the same as was payable for the
calendar year immediately preceding such termination) reserved hereunder for the unexpired portion of the Term, less the fair market rental
value of the Premises for the unexpired portion of the Term, discounted at the rate of four percent (4%) per annum to then present worth;
or

 

(ii)       amounts
equal to the Minimum Rent and Additional Rent (as above presumed) which would have been payable by Tenant from time to time had this Lease
not so terminated, or had Landlord not so re-entered the Premises, payable on the date that such payments would have otherwise been payable
following such termination and until the Termination Date; provided, however, that if Landlord shall relet the Premises during said period,
Landlord shall credit Tenant with the net rents received by Landlord from such reletting, such net rents to be determined by first deducting
from the gross rents as and when received by Landlord from such reletting, the reasonable out-of-pocket expenses incurred or paid by Landlord
from such reletting, the reasonable out-of-pocket expenses incurred or paid by Landlord in terminating this Lease or in re-entering the
Premises and in securing possession thereof, as well as the reasonable out-of-pocket expenses of reletting, including altering and preparing
the Premises for new tenants, brokers’ commissions, and all other expenses properly chargeable against the Premises and the rental
therefrom, it being understood that any such reletting may be for a period shorter or longer than the remaining Term of this Lease, but
in no event shall Tenant be entitled to receive any excess of such net rents over the sums payable by Tenant to Landlord hereunder, nor
shall Tenant be entitled in any suit for the collection of damages pursuant to this subsection to a credit in respect of any net rents
from a reletting, except to the extent that such net rents are actually received by Landlord. If the Premises or any part thereof should
be relet in combination with other space or otherwise or for a term longer than the remaining Term of this Lease, then proper apportionment
on a square foot basis (for equivalent space) shall be made of the rent received from such reletting and of the expenses of reletting.
Suit or suits for the recovery of such damages, or any installments of such damages, may be brought by Landlord from time to time at its
election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the Term of this Lease
would have expired if it had not been so terminated under the provisions of Section 19.1, or under any provision of Law, or had Landlord
not re-entered the Premises.

 

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19.3.       Landlord
agrees that, in the event of a default that results in Landlord’s recovery of possession of the Premises, Landlord will exert commercially
reasonable efforts to relet the Premises in order to mitigate damages, provided: (1) Landlord will retain the right, in its reasonable
discretion, to approve any tenant and to determine the terms and conditions of any lease, including, but not limited to, the rent and
length of term, (2) Landlord shall not be obligated to display the Premises to prospective tenants if Landlord has other premises
available in the Building and (3) Tenant may present prospective tenants to Landlord for consideration (Landlord having no obligation
to accept such prospective tenants). In addition, nothing herein contained shall be construed to limit or preclude recovery by Landlord
against Tenant of any sums, or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled
by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right
of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry on the Premises for the
default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and
governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of
the sums referred to in Section 19.2. Nothing herein contained shall limit or prejudice the right of Landlord, in any bankruptcy or reorganization
or insolvency proceeding, to prove for and obtain as damages by reason of such termination an amount equal to the maximum allowed by any
bankruptcy or reorganization or insolvency proceedings, or to prove for and obtain as damages by reason of such termination, an amount
equal to the maximum allowed by any statute or rule of law whether such amount shall be greater, equal to, or less than any of the sums
referred to in Section 19.2.

 

19.4.       Landlord
may retain, as a credit against the liquidated damages herein provided for, any Minimum Rent or Additional Rent or monies received by
it from Tenant or others on behalf of Tenant.

 

19.5.       If
Tenant has not removed its furniture or fixtures within ten (10) Business Days after Landlord has taken possession of the Premises pursuant
to this Article 19, Landlord shall have the right, as agent for Tenant, to take possession of any furniture or fixtures of Tenant found
upon the Premises and sell the same at any private or public sale and apply the proceeds to any amount due Landlord. Tenant waives any
right to notice of execution or levy in connection therewith.

 

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19.6.       If
Tenant shall default in the keeping, observance, or performance of any covenant, agreement, term, provision, or condition herein contained,
Landlord, without thereby waiving such default, may perform the same for the account and at the expense of Tenant (a) immediately
or at any time thereafter and without notice in the case of emergency or in case such default will result in (i) a violation of any Law,
or (ii) the imposition of any lien, charge, or encumbrance against all or any portion of the Premises, the Building, or the Real Property,
and (b) in any other case if such default continues for a period of fifteen (15) days after the date of the giving by Landlord to
Tenant of a notice of Landlord’s intention to perform the same. All reasonable out-of-pocket costs and expenses incurred by Landlord
in connection with any such performance by it for the account of Tenant and also all reasonable out-of-pocket costs and expenses, including
reasonable counsel fees and disbursements incurred by Landlord in any action or proceeding (including any summary dispossess proceeding)
brought by Landlord to enforce any obligation of Tenant under this Lease and/or right of Landlord in or to the Premises, shall be paid
by Tenant to Landlord, as Additional Rent, upon demand.

 

ARTICLE 20

 

LANDLORD’S REMEDIES CUMULATIVE; EXPENSES

 

20.1.       No
right or remedy conferred upon or reserved to Landlord or to Tenant shall be exclusive of any other right or remedy, and any right and
remedy shall be cumulative and in addition to every other right or remedy given hereunder or now or hereafter existing at law. The failure
of Landlord or Tenant to insist at any time upon the strict performance of any covenant or agreement or to exercise any right, power,
or remedy contained in this Lease shall not be construed as a waiver or relinquishment thereof for the future. A receipt by Landlord or
a payment by Tenant of any installment of the Minimum Rent or the Additional Rent with knowledge of the breach of any covenant or agreement
contained in this Lease shall not be deemed a waiver of such breach and shall not be deemed to have been waived unless expressed in writing
and signed by Landlord or Tenant, as applicable. Landlord and Tenant shall each be entitled, to the extent permitted by applicable Law,
to injunctive relief in case of the violation, or attempted or threatened violation, of any covenant, agreement, condition, or provision
of this Lease or to a decree compelling performance of any covenant, agreement, condition, or provision of this Lease, or to any other
remedy allowed Landlord by Law.

 

20.2.       If
Tenant shall be in default in the performance of any of its obligations under this Lease and an action shall be brought for the enforcement
thereof in which it shall be determined that Tenant was in default, Tenant shall pay to Landlord, on demand, the reasonable out-of-pocket
expenses Landlord incurred in connection therewith, including reasonable attorneys’ fees and any post-judgment collection fees.
If Landlord shall be in default in the performance of any of its obligations under this Lease and an action shall be brought for the enforcement
thereof in which it shall be determined that Landlord was in default, Landlord shall pay to Tenant, on demand, the reasonable out-of-pocket
expenses Tenant incurred in connection therewith, including reasonable attorneys’ fees and any post-judgment collection fees.

 

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20.3.       For
the purposes of any suit brought by either party, this Lease shall be construed to be a divisible contract, to the end that successive
actions may be maintained on this Lease as successive periodic sums mature hereunder.

 

ARTICLE 21

 

SUBORDINATION AND ESTOPPEL

 

21.1.       Subject
to the provisions of Section 21.5, this Lease and the Term and estate hereby granted are and shall be subject and subordinate to the lien
of each mortgage or ground lease which may at any time hereafter affect all or any portion of the Real Property or Landlord’s interest
therein (any such mortgage or ground lease being herein called an “Underlying Encumbrance”), and Tenant hereby agrees
to attorn to any holder of an Underlying Encumbrance, or to its successor or assign. Although no instrument or action on the part of Tenant
shall be necessary to effectuate such subordination, Tenant shall, upon request by Landlord, at any time or times execute and deliver
any and all reasonable instruments that may be necessary or proper to effect such attornment or subordination, or to confirm or evidence
the same. If Tenant shall fail or otherwise refuse to execute a subordination instrument in accordance with this Article, then and upon
such event, Tenant shall be deemed to have appointed Landlord and Landlord shall thereupon be regarded as the irrevocable attorney-in-fact
of Tenant, duly authorized to execute and deliver the required instrument for and on behalf of Tenant, but the exercise of such power
shall not be deemed a waiver of Tenant’s default. Landlord hereby represents that there is no Underlying Encumbrance as of the date
of this Lease.

 

21.2.       If
all or any portion of Landlord’s estate in the Real Property shall be sold or conveyed to any person, firm, corporation, or other
entity upon the exercise of any remedy provided for in any mortgage or by law or equity, such person, firm, corporation, or other entity
and each person, firm, corporation, or other entity thereafter succeeding to its interest in the Real Property (a) shall not be liable
for any act or omission of Landlord under this Lease occurring prior to such sale or conveyance, except to the extent that such act or
omission shall be continuing, (b) shall not be subject to any offset, defense, or counterclaim accruing prior to such sale or conveyance,
except to the extent that such offset, defense, or counterclaim shall be applicable to a continuing act or omission of Landlord, (c) shall
not be bound by any payment prior to such sale or conveyance of Minimum Rent, Additional Rent, or other payments for more than one month
in advance (except prepayments in the nature of security for the performance by Tenant of its obligations hereunder to the extent received),
and (d) shall be liable for the keeping, observance and performance of the other covenants, agreements, terms, provisions, and conditions
to be kept, observed and performed by Landlord under this Lease only during the period such person, firm, corporation, or other entity
shall hold such interest, except that the foregoing shall not relieve such successor to Landlord’s interest of the obligation to
cure any continuing default or wrongful act or omission.

 

21.3.       In
the event of an act or omission by Landlord which would give Tenant the right to terminate this Lease or to claim a partial or total eviction,
Tenant will not exercise any such right until it has given written notice of such act or omission, or, in the case of the Premises or
any part thereof becoming untenantable as the result of damage from fire or other casualty, written notice of the occurrence of such damage,
to the holder of any Underlying Encumbrance whose name and address shall previously have been furnished to Tenant in writing, by delivering
such notice of such act, omission, or damage addressed to such holder at said address or if such holder hereafter furnishes another address
to Tenant in writing at the last address of such holder so furnished to Tenant, and, unless otherwise provided herein, until a reasonable
period (but no less than thirty (30) days) for remedying such act, omission, or damage shall have elapsed following such giving of such
notice (or following such later date as provided in Article 18 of this Lease), provided any such holder, with reasonable diligence, shall,
following the giving of such notice, have commenced and continued to remedy such act, omission, or damage or to cause the same to be remedied.

 

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21.4.       Tenant
shall at any time and from time to time upon not less than ten (10) days’ prior notice by Landlord, execute, acknowledge, and deliver
to Landlord an estoppel certificate, in form satisfactory to Landlord, certifying (i) that this Lease is unmodified and in full force
and effect (or, if there have been modifications, that the same is in full force and effect as modified and stating the modifications),
(ii) the dates to which the Minimum Rent and Additional Rent have been paid and whether any such Minimum Rent or Additional Rent has been
paid in advance, (iii) whether Landlord is, to Tenant’s knowledge, in default in performance of any of its obligations under this
Lease, and if so, specifying each such default of which Tenant may have knowledge, and (iv) as to any other matters reasonably requested
by Landlord, it being intended that any such certificate delivered pursuant to this Section 21.4 may be relied upon by a prospective purchaser
of Landlord’s interest or a mortgagee of Landlord’s interest or assignee of any mortgage upon Landlord’s interest in
the Real Property or any other party which Landlord wishes to receive said estoppel certificate. Landlord shall at any time and from time
to time upon not less than ten (10) days’ prior notice by Tenant, execute, acknowledge, and deliver to Tenant an estoppel certificate,
in form satisfactory to Tenant, certifying (i) that this Lease is unmodified and in full force and effect (or, if there have been modifications,
that the same is in full force and effect as modified and stating the modifications), (ii) the dates to which the Minimum Rent and Additional
Rent have been paid and whether any such Minimum Rent or Additional Rent has been paid in advance, (iii) whether Tenant is, to Landlord’s
knowledge, in default in performance of any of its obligations under this Lease, and if so, specifying each such default of which Landlord
may have knowledge, and (iv) as to any other matters reasonably requested by Tenant, it being intended that any such certificate delivered
pursuant to this Section 21.4 may be relied upon by a prospective assignee or subtenant or any other party which Tenant wishes to receive
said estoppel certificate.

 

21.5       Landlord
represents that the Building is not encumbered by any Underlying Encumbrances as of the date of this Lease. Landlord shall exert commercially
reasonable efforts to obtain from each subsequent holder of an Underlying Encumbrance a subordination, non-disturbance and attornment
agreement (“SNDA”) on such holder’s customary recordable form. Tenant acknowledges that Landlord does not guarantee
Tenant’s receipt from such subsequent holder of an SNDA and the failure to so obtain such SNDA shall not impact the rights or obligations
hereunder.

 

ARTICLE 22

 

NO WAIVER

 

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22.1.       No
waiver by Landlord or Tenant of any breach by the other party in this Lease of any of the terms, covenants, agreements, or conditions
of this Lease shall be effective unless such waiver is contained in a writing subscribed by the party waiving such breach and no such
waiver shall be deemed to constitute a waiver of any succeeding breach thereof, or a waiver of any breach of any of the terms, covenants,
agreements, and conditions herein contained.

 

22.2.       No
act or thing done by Landlord or Landlord’s agents during the Term shall be deemed an acceptance of a surrender of the Premises,
and no agreement to accept such surrender shall be valid unless in writing and signed by Landlord. No employee of Landlord or of Landlord’s
agents shall have any authority to accept the keys of the Premises prior to the Termination Date and the delivery of keys to any employee
of Landlord or Landlord’s agents shall not operate as an acceptance of a termination of this Lease or an acceptance of a surrender
of the Premises.

 

22.3.       The
receipt by Landlord of the Minimum Rent and Additional Rent 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 Minimum Rent or a lesser amount
of the Additional Rent then due shall be deemed to be other than on account of the earliest stipulated amount then due, nor shall any
endorsement or statement on any check or payment as Minimum Rent or Additional 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 Minimum Rent or Additional
Rent or pursue any other remedy provided in this Lease.

 

22.4.       Landlord’s
failure during the Term to prepare and deliver any of the statements, notices, or bills set forth in this Lease shall not in any way cause
Landlord to forfeit or surrender its rights to collect any amount that may have become due and owing to it during the Term.

 

22.5.       Landlord
shall enforce the Rules and Regulations in a uniform and non-discriminatory manner. The failure of Landlord to enforce any of the Rules
or Regulations as may be set by Landlord from time to time, against Tenant or against any other tenant in the Building shall not be deemed
a waiver of any such Rule or Regulation, and Landlord shall not be liable to Tenant for any violation of the Rules and Regulations by
any other tenant in the Building, or such tenant’s agents, servants, employees, contractors, invitees, or licensees.

 

ARTICLE 23

 

LANDLORD’S RIGHT OF ENTRY

 

23.1.       Landlord
and Landlord’s agents and representatives shall have the right to enter into or upon the Premises, or any part thereof, at all reasonable
hours and upon reasonable advance notice to Tenant for the following purposes: (i) examining the Premises; (ii) making such repairs or
alterations therein as may be necessary in Landlord’s sole judgment for the safety and preservation of the Building or the Premises
(provided no such repair or alteration shall result in a reduction of the rentable area of the Premises or in a reduction in ceiling heights);
(iii) erecting, maintaining, repairing, or replacing wires, ducts, cables, conduits, vents, or plumbing equipment running in, to, or through
the Premises (all of which shall be installed in the Premises, solely to the extent required, above the hung ceiling of the Premises or
concealed within existing walls and columns); (iv) showing the Premises to prospective new tenants during the last nine (9) months of
the Term; or (v) showing the Premises during the Term to any mortgagees or prospective purchasers of the Real Property. Landlord shall
observe all security procedures and protocols reasonably established by Tenant in connection with any entry by Landlord into the Premises.
Landlord shall give Tenant five (5) Business Days’ prior written notice before commencing any non-emergency repair or alteration.

 

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23.2.       Landlord
may enter upon the Premises at any time in case of emergency without prior notice to Tenant (provided prompt notice thereof is delivered
to Tenant as soon as possible in all cases).

 

23.3.       Landlord,
in exercising any of its rights under this Article 23, shall not be deemed guilty of an eviction, partial eviction, constructive eviction,
or disturbance of Tenant’s use or possession of the Premises and shall not be liable to Tenant for same.

 

23.4.         All
work performed by or on behalf of Landlord in or on the Premises pursuant to this Article 23 shall be performed with as little inconvenience
to Tenant’s business as is reasonably possible. Construction materials may not be stored in the Premises.

 

23.5.       Tenant
shall not change any locks or install any additional locks on doors entering into the Premises without the consent of Landlord and, if
any change is made, a copy of any such lock key shall be given to Landlord. If in an emergency Landlord is unable to gain entry to the
Premises by unlocking entry doors thereto, Landlord may force or otherwise enter the Premises without liability to Tenant for any damage
resulting directly or indirectly therefrom. Tenant shall be responsible for all damages created or caused by its failure to give to Landlord
a copy of any key to any lock installed by Tenant controlling entry to the Premises.

 

23.6         Any
entry of the Premises by the Landlord pursuant to this Lease shall not unreasonably interfere with the conduct of Tenant’s business.
Landlord and Tenant shall coordinate the performance of any work or repairs that is anticipated to be loud or disruptive, and Landlord
shall use commercially reasonable efforts to perform such work or repairs during non-business hours if practicable, provided, however,
that Landlord shall not be required to employ overtime labor in connection therewith. If Tenant requests, Landlord shall employ overtime
labor in connection therwith provided that Tenant shall be responsible for paying the additional labor expense required due to the work
or repairs being performed during non-business hours.

 

ARTICLE 24

 

QUIET ENJOYMENT

 

Landlord covenants and agrees
that, upon the performance by Tenant of all of the covenants, agreements, and provisions hereof on Tenant’s part to be kept and
performed, Tenant shall have, hold, and enjoy the Premises, subject to the terms of this Lease, including, but not limited to, the provisions
of Article 21; provided, however, that no diminution, or abatement of the Minimum Rent, Additional Rent, or other payment to Landlord
shall be claimed by or allowed to Tenant for inconvenience or discomfort arising from the making of any repairs or improvements to the
Premises or the Real Property, nor for any space taken to comply with any Law, except as provided for herein. Tenant’s rights hereunder
are and shall be subject to the existing state of title to the Real Property and to future easements affecting the Real Property, including,
by way of illustration and not limitation, easements for storm and sanitary sewers, drainage ditches and public utilities, and to all
existing and future mortgages, liens for real estate taxes, provided that the same will not render the Premises unfit for Tenant’s
use as a general commercial office.

 

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ARTICLE 25

 

SURRENDER

 

Upon the Termination Date, or
prior expiration of the Term of this Lease, Tenant shall peaceably and quietly quit and surrender to Landlord the Premises, broom clean,
in as good condition as on the Commencement Date, except for normal wear and tear, repairs and replacement required of Landlord, and damage
by fire or other casualty not caused by Tenant. Tenant’s obligation to observe or perform this covenant shall survive the Termination
Date or prior expiration of the Term. If the Termination Date or prior expiration of the Term falls on a Sunday or a Building Holiday,
this Lease shall expire at 12 noon on the last Business Day preceding said date.

 

ARTICLE 26

 

HOLDING OVER

 

If Tenant holds over possession
of the Premises beyond the Termination Date or prior expiration of the Term, such holding over shall not be deemed to extend the Term
or renew this Lease but such holding over shall continue upon the terms, covenants, and conditions of this Lease except that Tenant agrees
that the charge for use and occupancy of the Premises for each calendar month or portion thereof (pro-rated on a per diem basis for a
partial month) that Tenant holds over (even if such part shall be one day) shall be a liquidated sum equal to: (i) for the first 30 days
of such holding over, one-twelfth (1/12th) of one and one-quarter (1 1⁄4) the sum of the: (A) Minimum Rent and (B)
Additional Rent required to be paid by Tenant during the calendar year preceding the Termination Date or earlier expiration of the Term;
and (ii) after such first 30 days of holding over, one-twelfth (1/12th) of one and one-half (1 1⁄2) times the sum of the:
(A) Minimum Rent and (B) Additional Rent required to be paid by Tenant during the calendar year preceding the Termination Date or
earlier expiration of the Term. The parties recognize and agree that the damage to Landlord resulting from any failure by Tenant to timely
surrender possession of the Premises will be extremely substantial, will exceed the amount of the monthly Minimum Rent and Additional
Rent payable hereunder and will be impossible to accurately measure. If Tenant holds over for more than thirty (30) days following receipt
of notice from Landlord that Landlord has executed a lease with a new tenant (a "New Tenant") for all or any part of
the Premises, Tenant shall indemnify and hold harmless the Additional Insureds against any and all losses and liabilities resulting therefrom,
including, without limitation, any claims made by any New Tenant founded upon such delay. Nothing contained in this Lease shall be construed
as a consent by Landlord to the occupancy or possession by Tenant of the Premises beyond the Termination Date or prior expiration of the
Term, and Landlord, upon said Termination Date or prior expiration of the Term, shall be entitled to the benefit of all legal remedies
that now may be in force or may be hereafter enacted relating to the immediate repossession of the Premises. The provisions of this Article
shall survive the Termination Date or earlier expiration of the Term.

 

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ARTICLE 27

 

NOTICES

 

All notices, requests, consents,
approvals, demands, and other communications by either party to the other given or required to be given under this Lease shall be in writing
and shall be sent by hand delivery; or by registered or certified mail, return receipt requested; or by reputable private overnight delivery
service providing a receipt of delivery or refusal, addressed (i) to Tenant (a) at Tenant’s address set forth in this Lease if given
prior to Tenant’s taking possession of the Premises or (b) at the Building if mailed subsequent to Tenant’s taking possession
of the Premises, or (ii) to Landlord at Landlord’s address set forth in this Lease, with a copy, in each instance, to Riker Danzig
Scherer Hyland Perretti LLP, One Speedwell Avenue, Morristown, NJ 07960, Attn: Nicholas Racioppi, Esq., or (iii) to such other address
as either party shall hereafter designate by notice as aforesaid. Copies of any default notices delivered to Tenant shall be delivered
to Mario Suarez, Esq., Thompson Hine LLP, 335 Madison Avenue, New York, NY 10017 All notices properly addressed shall be deemed served
on the date of receipt or rejection thereof, except that notice of change of address shall not be deemed served until received by the
addressee. Legal counsel for the respective parties may provide the requisite notices hereunder on behalf of their respective clients.

 

ARTICLE 28

 

CHANGES SURROUNDING BUILDING

 

This Lease shall not be affected
or impaired by any change in any sidewalk, alley, or street adjacent to or around the Building, except as otherwise provided in Article
17, nor by the construction of additional buildings or other improvements upon the Real Property. Tenant acknowledges that Landlord may
construct additional buildings and other improvements on the Real Property, including the Common Areas, and expressly consents thereto.

 

ARTICLE 29

 

RULES AND REGULATIONS

 

Except as provided in this Lease
to the contrary, Tenant and Tenant’s Visitors shall comply with the Rules and Regulations with respect to the Real Property which
are set forth in Exhibit E annexed to this Lease and are expressly made a part hereof. Landlord shall have the right to
make reasonable amendments thereto from time to time for the safety, care, and cleanliness of the Real Property, the preservation of good
order therein and the general convenience of all tenants, and Tenant shall comply with such amended Rules and Regulations following written
notice thereof from Landlord. In the event there is a conflict between the provisions of this Lease and the Rules and Regulations, the
provisions of this Lease shall govern.

 

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ARTICLE 30

 

LIMITATION OF LIABILITY

 

Anything in this Lease to the
contrary notwithstanding, no recourse or relief or personal liability shall be had under any rule of Law, statute, or constitution or
by any enforcement of any assessments or penalties, or otherwise or based on or in respect of this Lease (whether by breach of any obligation,
monetary or non-monetary), against Landlord, or Landlord’s agents, shareholders, officers, directors, partners, members, principals
(disclosed or non-disclosed), tenant-in-common, venturer, trustee, trustee beneficiary, grantee, affiliates, or any other individual or
entity having an interest in Landlord, it being expressly understood that all obligations of Landlord under or relating to this Lease
are solely obligations payable out of the Real Property (including without limitation all income, and all sale and insurance proceeds
resulting from the lease, financing, sale or destruction of the Real Property) and are compensable solely therefrom. It is expressly understood
that all such liability is and is being expressly waived and released as a condition of and in consideration for the execution of this
Lease, and Tenant expressly waives and releases all such liability as a condition of, and in consideration for, the execution of this
Lease by Landlord.

 

Anything in this Lease to the
contrary notwithstanding, no recourse or relief or personal liability shall be had under any rule of Law, statute, or constitution or
by any enforcement of any assessments or penalties, or otherwise or based on or in respect of this Lease (whether by breach of any obligation,
monetary or non-monetary), against Tenant’s agents, shareholders, officers, directors, partners, members, principals (disclosed
or non-disclosed), tenant-in-common, venturer, trustee, trustee beneficiary, grantee, affiliates, or any other individual or entity having
an interest in Tenant, it being expressly understood that all obligations of Tenant under or relating to this Lease are solely obligations
payable out of the assets and income of the Tenant entity and are compensable solely therefrom. It is expressly understood that all such
liability is and is being expressly waived and released as a condition of and in consideration for the execution of this Lease, and Landlord
expressly waives and releases all such liability as a condition of, and in consideration for, the execution of this Lease by Tenant.

 

ARTICLE 31

 

DIRECTORY; SIGNS

 

31.1.       Prior
to the Commencement Date, Landlord shall remove its signage located in the common areas of the Building with the exception of the first
floor common walkthrough and penthouse portions of the Building. Landlord, at Landlord’s sole cost and expense, shall install identification
signage for Tenant in the lobby of the Building (“Lobby Signage”), subject to the parties’ agreement as to the
size and style (and plans and specifications) for such Lobby Signage. Promptly following the parties’ agreement as to such Lobby
Signage, Landlord shall commence and diligently prosecute to completion the fabrication and installation of such Lobby Signage. Following
the installation of such Lobby Signage, Tenant shall maintain, repair, replace and remove such Lobby Signage all at Tenant’s sole
risk, cost and expense. Landlord may, at any time during the Term (or any extension thereof), upon five (5) Business Days prior written
notice to Tenant, temporarily relocate the position of the Lobby Signage to perform any necessary repairs or maintenance required hereunder;
Landlord agreeing to use commercially reasonable efforts to minimize the period of any such relocation. The cost of such relocation shall
be at the cost and expense of Landlord. The rights provided in this Section 31.1 shall be non-transferable unless otherwise agreed by
Landlord in writing in its sole discretion, which shall not be unreasonably withheld in case of an assignment or sublease.

 

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31.2.       Landlord
shall install, at Tenant’s sole cost and expense, Tenant’s name, logo, and identifying graphics on signage at the entrance
of the Premises as well as directional signage in certain portions of the common areas of the Building, provided that Tenant submits all
plans and drawings of the same for Landlord’s prior written approval, which shall not be unreasonably withheld, conditioned, or
delayed if such signage (including the size and style of the lettering) is consistent with the standards generally in use at the Building
for signage.

 

31.3       Tenant
shall have the right to have its name and logo listed on the monument sign for the Building (the “Monument Sign”),
subject to the terms of this Section 31.3. The design, size and color of Tenant’s signage with Tenant’s logo to be included
on the Monument Sign, and the manner in which it is attached to the Monument Sign, shall comply with all applicable Laws and shall be
subject to the reasonable approval of Landlord and any applicable governmental authorities with jurisdiction thereover; provided, however,
that Tenant’s signage shall be at least as prominent as that of any other comparable tenant of the Building leasing substantially
similar square footage in the Building. Landlord reserves the right to withhold consent to any signage that, in the reasonable judgment
of Landlord, is not harmonious with the design standards of the Building and Monument Sign. Landlord shall have the right to require that
all names or logos on the Monument Sign be of the same size and style. Tenant must obtain Landlord’s written consent to any proposed
signage and lettering or logo design prior to its fabrication and installation. The location of Tenant’s logo on the Monument Sign
shall be subject to Landlord’s reasonable approval. To obtain Landlord’s consent, Tenant shall submit design drawings to Landlord
showing the type and sizes of all lettering; the colors, finishes and types of materials used; and (if applicable and Landlord consents
in its reasonable discretion) any provisions for illumination. Although the Monument Sign will be maintained by Landlord, Tenant shall
pay its proportionate share of the cost of any maintenance and repair associated with the Monument Sign within thirty (30) days following
rendition of a bill therefor. Tenant’s signage on the Monument Sign shall be designed, constructed, installed, insured, maintained,
repaired and removed from the Monument Sign all at Tenant’s sole risk, cost and expense. Landlord may, at any time during the Term
(or any extension thereof), upon five (5) Business Days prior written notice to Tenant, relocate the position of Tenant’s signage
on the Monument Sign without materially impairing its visibility. The cost of such relocation shall be at the cost and expense of Landlord.
The rights provided in this Section 31.3 shall be non-transferable unless otherwise agreed by Landlord in writing in its sole discretion,
which shall not be unreasonably withheld in case of an assignment or sublease.

 

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ARTICLE 32

 

MISCELLANEOUS

 

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

 

32.2.    Jury
Trial Waiver. Landlord and Tenant do hereby waive trial by jury in any action, proceeding or counterclaim brought by either of the
parties hereto against the other on any matter whatsoever arising out of or in any connection with this Lease, the relationship of Landlord
and Tenant, Tenant’s use or occupancy of the Premises, and/or any claim, injury or damage, or any emergency or statutory remedy.

 

32.3.    Broker.
Landlord and Tenant mutually represent to each other that they have not dealt with any real estate broker or sales representative in connection
with this Lease other than Cushman & Wakefield, Inc. (“Broker”). Landlord agrees to pay the commissions of Broker
pursuant to separate agreement. Each party agrees to indemnify, defend and hold harmless the other (and any mortgagees or ground lessors)
from and against all threatened or asserted claims, liabilities, costs or damages which may incur as a result of a breach of this representation.
This representation shall survive the expiration or sooner termination of this Lease.

 

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

 

32.5.    Interpretation.

 

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

 

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

 

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

 

(d)       This
Lease shall not be strictly construed either against Landlord or Tenant.

 

(e)       No
remedy or election given by any provision in this Lease shall be deemed exclusive unless so indicated, but each shall, wherever possible,
be cumulative with all other remedies in law or equity as otherwise specifically provided.

 

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(f)       Each
provision hereof shall be deemed both a covenant and a condition and shall run with the land.

 

(g)     If,
and to the extent that, any of the provisions of any rider to this Lease conflict or are otherwise inconsistent with any of the preceding
provisions of this Lease, or of the Rules and Regulations appended to this Lease, whether or not such inconsistency is expressly noted
in the rider, the provisions of the rider shall prevail, and in case of inconsistency with said Rules and Regulations, shall be deemed
a waiver of such Rules and Regulations with respect to Tenant to the extent of such inconsistency.

 

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

 

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

 

(j)     The
covenants and agreements herein contained shall, subject to the provisions of this Lease, bind and inure to the benefit of Landlord, its
successors and assigns, and Tenant, its successors and permitted assigns, except as otherwise provided herein.

 

(k)      This
Lease has been executed and delivered in the State of New Jersey and shall be construed in accordance with the Laws of the State of New
Jersey, and Landlord and Tenant acknowledge that all of the applicable statutes of the State of New Jersey are superimposed on the rights,
duties, and obligations of Landlord and Tenant hereunder, and this Lease shall not otherwise provide that which said statutes prohibit.

 

(1)      Landlord
has made no representations or promises with respect to the Premises or the Real Property, except as expressly contained herein.

 

(m)    Landlord
shall have no obligation, except as herein set forth, to do any work in and to the Premises to render them ready for occupancy and use
by Tenant.

 

32.6.     Not
Offer, Option, etc. The submission of this Lease to Tenant for examination does not constitute by Landlord a reservation of, or an
option to Tenant for, the Premises, or an offer to lease on the terms set forth herein, and this Lease shall become effective as a lease
agreement only upon execution and delivery thereof by Landlord and Tenant.

 

32.7.     Force
Majeure. If, by reason of an Excusable Delay Landlord or Tenant shall be unable to fulfill its non-monetary obligations under this
Lease, this Lease shall in no way be affected, impaired, or excused; provided, however, that in such case Tenant’s obligation to
pay Minimum Rent and Additional Rent hereunder shall not be excused except as specifically provided to the contrary in this Lease.

 

32.8.      Adjacent
Excavation, Shoring. If any excavation or other sub-structural work shall be made upon land adjacent to the Building or the Property
or shall be authorized to be made, Tenant shall afford to the person causing or authorized to cause such excavation or other sub-structural
work license to enter upon the Premises for the purpose of doing such work as said person shall deem necessary to preserve the walls or
structures of the Building of which the Premises form a part from injury or damage and to support the same by proper foundations without
any claim for damages or indemnity against Landlord, or diminution or abatement of rent.

 

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32.9.       Security
Deposit.

 

(i)       Tenant
shall, upon the signing of this Lease, deliver to Landlord a letter of credit (the “Letter of Credit”), issued in favor
of Landlord in the sum of $379,523.00 (the “Security Deposit”), as security for the faithful performance and observance
by Tenant of the terms, conditions and provisions of this Lease. On or after the second (2nd) anniversary of the Rent Commencement Date,
provided Tenant is not then in default of this Lease beyond any applicable notice and cure period, Tenant may reduce the Security Deposit
to $199,368.18. Upon Tenant’s written request, Landlord shall reasonably cooperate with Tenant to effectuate the foregoing reduction
of the Letter of Credit, including signing any documents required by the bank that has issued the Letter of Credit.

 

(ii)       It
is agreed that in the event Tenant defaults in respect of any of the terms, provisions and conditions of this Lease beyond any applicable
notice and cure period, including, but not limited to, the payment of Minimum Rent and Additional Rent or any other sum for which Tenant
is liable hereunder, Landlord may draw upon the Letter of Credit and apply or retain any portion or all of the amount received from such
draw to the extent required for the payment of any Minimum Rent and Additional Rent or any other sum as to which Tenant is in default
or for any sum which Landlord may expend or may be required to expend by reason of Tenant’s default in respect of any of the terms,
covenants and conditions of this Lease including, but not limited to, any damages or deficiency in the reletting of the Premises, whether
such damages or deficiency accrue or accrues before or after summary proceedings or other re-entry by Landlord. If Landlord draws upon
all or any part of the Letter of Credit and applies or retains any portion or all of the amount received from such draw, Tenant, within
ten (10) days following demand, shall restore the face amount of the Letter of Credit to an amount equal to the Security Deposit so applied
or retained so that Landlord shall have the full Security Deposit on hand at all times during the term hereof.

 

(iii)       Any
Letter of Credit delivered by Tenant shall be an irrevocable commercial Letter of Credit in the amount of the Security Deposit, such Letter
of Credit to be in form and substance reasonably satisfactory to Landlord, and issued by a member bank of the New York Clearing House
Association acceptable to Landlord, or issued by such other bank with assets and reserves substantially equivalent to any of such member
banks and reasonably acceptable to Landlord, payable upon the presentation by Landlord to such bank of a sight-draft, without presentation
of any other documents, statements or authorizations, which Letter of Credit shall provide (i) for the continuance of such Letter of Credit
for the period of at least one (1) year from the date hereof, (ii) for the automatic extension of such Letter of Credit for additional
periods of one (1) year from the initial and each future expiration date thereof (the last such extension to provide for the continuance
of such Letter of Credit for at least sixty (60) days beyond the expiration date of this Lease) unless such bank gives Landlord notice
of its intention not to renew such Letter of Credit, not less than thirty (30) days prior to the initial or any future expiration date
of such Letter of Credit and (iii) that in the event such notice is given by such bank, Landlord shall have the right to draw on such
bank at sight for the balance remaining in such Letter of Credit and hold and apply the proceeds thereof in accordance with the provisions
of this Article and this Lease. Each Letter of Credit to be deposited and maintained with Landlord (or the proceeds thereof) shall be
held by Landlord as security for the faithful performance and observance by Tenant of the terms, provisions and conditions of this Lease,
and in the event that (x) any default by Tenant beyond any applicable notice and cure periods occurs under this Lease, or (y) Landlord
transfers its right, title and interest under this Lease to a third party and, after thirty (30) days’ notice from Landlord, the
bank issuing such Letter of Credit does not consent to the transfer of such Letter of Credit to such third party, or (z) notice is given
by the bank issuing such Letter of Credit that it does not intend to renew the same, as above provided, and a substitute Letter of Credit
in form and substance satisfactory to Landlord and otherwise complying with the terms of this Section 32.9 is not received by Landlord
within thirty (30) days after such notice is given, then, in any such event, Landlord may draw on such Letter of Credit, and the proceeds
of such Letter of Credit shall then be held and applied as security (and be replenished, if necessary) as provided in this Section 32.9
and this Lease.

 

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(iv)      The
Security Deposit delivered by Tenant shall be returned to Tenant promptly after the expiration date of this Lease and after delivery of
the entire possession of the Premises to Landlord in the condition required pursuant to the terms of this Lease so long as Tenant is not
then in default under this Lease. In the event of a sale of the Building or leasing of the Building, Landlord shall have the right to
transfer the Security Deposit to the vendee or lessee and Landlord shall thereupon be released by Tenant from all liability for the return
of the Security Deposit; and, upon such transfer from Landlord to the new landlord, Tenant agrees to look solely to the new Landlord for
the return of the Security Deposit; and it is agreed that the provisions hereof shall apply to every transfer or assignment made of the
Security Deposit to a new landlord. Tenant further covenants that it will not assign or encumber or attempt to assign or encumber the
Security Deposit and that neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted
assignment or attempted encumbrance.

 

(v)           Landlord
and Tenant acknowledge and agree that the Letter of Credit shall be required to permit Landlord to make draws thereon by facsimile or
other reasonable electronic means. To the extent the Letter of Credit delivered by Tenant concurrently with the execution of this Lease
does not permit such facsimile or other electronic draws, Landlord and Tenant shall cooperate, at no cost or expense to Landlord, to affect
an amended or replacement Letter of Credit containing such provision as soon as practicable, but in any event, not more than sixty (60)
days following the date hereof.

 

32.10.      Transfer
by Landlord. In the event of any transfer of title to Real Property and assumption of this Lease by such transferee, Landlord shall
be and hereby is entirely freed and relieved of all covenants and obligations of Landlord hereunder except for continuing obligations
and liabilities under this Lease and liabilities which arose prior to such transfer and this Lease shall be deemed and construed as a
covenant running with the land without further agreement between the parties or their successors in interest.

 

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32.11.       Access.
Subject to governmental regulations, Tenant will be entitled to have access to the Premises twenty-four (24) hours per day, seven (7)
days a week.

 

32.12.       Reasonable
Modifications. If, in connection with obtaining financing for the Building, a banking, insurance, or other recognized institutional
lender shall request reasonable modifications in this Lease as a condition to such financing, Tenant shall not unreasonably withhold,
delay, or defer its consent thereto, provided that such modifications do not: (i) increase the obligations of Tenant hereunder or (ii)
affect the leasehold interest created or the conduct of Tenant’s business operations at the Premises except in each case, to an
immaterial extent.

 

32.13.      Authorization.
Tenant and Landlord each represent that the undersigned officer(s) have been duly authorized to enter into this Lease and that the
execution and consummation of this Lease by Tenant or Landlord, as applicable, does not and shall not violate any provision of any by-laws,
certificate of incorporation, agreement, order, judgment, governmental regulation, or any other obligations to which Tenant or Landlord,
respectively, is a party or is subject.

 

32.14.       Consent,
Permission, or Approval. In any case where Landlord’s consent, permission, or approval is requested (or required to be requested)
by Tenant in connection with this Lease, (i) Landlord shall have the right to charge Tenant all reasonable out-of-pocket costs (architectural,
engineering and legal) as Additional Rent that Landlord reasonably incurs in determining whether such consent, permission, or approval
shall be granted; and (ii) Landlord agrees that such consent, permission or approval shall not be unreasonably withheld, conditioned or
delayed except where Landlord has expressly reserved the right to grant such consent, permission or approval in Landlord’s sole
discretion elsewhere in this Lease.

 

32.15.      Financial
Statements. Landlord acknowledges that Tenant is a public company required to file financial disclosure with the United States Securities
and Exchange Commission. At such time, if any, as the named Tenant under this Lease is not a public company, and upon request by Landlord,
Tenant agrees, within (30) days after Landlord’s request, to furnish to Landlord and to any mortgagee or ground lessor of the Building
and/or Property a balance sheet and profit and loss statement for the last available accounting year (provided such balance sheet and
statement are prepared as of a date not more than 18 months prior to the date of the request by Landlord) prepared by Tenant and represented
to accurately reflect the information set forth thereon. Landlord shall request said financial statements no more than one time per year.

 

32.16.      Hazardous
Substances.

 

      (a)      Landlord has no Actual
Knowledge of the existence of any hazardous substances (as defined in Section 8.2) in the Building or on the Property in violation of
applicable governmental regulation; provided, however, minor quantities of hazardous substances may be used or stored in the Building
and on the Property for cleaning purposes, in connection with the use of office equipment and the normal operation of offices by tenants
and occupants of the Building and in connection with construction and maintenance activities relating to the Building and the Property,
so long as such quantities and the use thereof are permitted by or are exempt from applicable governmental regulation. As used herein,
the phrase “Actual Knowledge” of Landlord is limited to and based upon the current actual knowledge of the General Counsel
of Landlord, without inquiry and investigation. The phrase “Actual Knowledge” of Landlord shall not be construed, by imputation
or otherwise, to refer to the knowledge of any parent, subsidiary or affiliate of Landlord or to any other officer, agent, manager, representative
or employee of Landlord or to impose upon the General Counsel of Landlord any duty to investigate the matter to which such actual knowledge,
or the absence thereof, pertains. Notwithstanding anything to the contrary contained in this Agreement, the General Counsel of Landlord
shall have no personal liability hereunder. Landlord shall deliver any governmentally required certifications regarding hazardous substances
or asbestos (if any) incorporated in the Building.

 

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32.17        Counterparts. This
Lease may be executed in any number of original, facsimile or other electronic counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. A signature
to this Lease transmitted electronically shall have the same authority, effect, and enforceability as an original signature.

 

32.18       Incentives.
At Tenant’s request, Landlord shall, at Tenant’s sole cost and expense, join in any reasonable applications, execute any reasonable
documents, and otherwise reasonably cooperate with Tenant’s efforts to apply for and receive any incentives or other benefit programs
from any governmental authority having jurisdiction over the Premises, which incentives or other benefit programs will inure solely to
the benefit of Tenant if received. Tenant agrees to indemnify, defend, protect, save and hold Landlord harmless from and against any and
all costs, expenses, losses, demands, claims, obligations and liabilities against or incurred by Landlord in connection with such cooperation.

 

32.19        Building Security.
Landlord shall maintain a security guard in the lobby at all times throughout the Term of this Lease, 24 hours per day, 7 days per week.
Tenant will be added to the existing S2 security system; and Tenant shall additionally be permitted to modify the existing S2 security
system, with Landlord’s prior approval (which approval shall not be unreasonably withheld, delayed or conditioned) in order to add
security-related approvals unique and limited to Tenant’s workforce; provided, however, that any additional costs incurred by Landlord
in connection with such modification to the existing S2 security system shall be reimbursed by Tenant within ten (10) days following demand
therefor. Within ten (10) days following the Commencement Date, Tenant shall provide Landlord with a written request for the number of
keycards or fobs, as applicable, required for use by its employees, and Landlord shall provide such keycards or fobs promptly thereafter.
Tenant shall be responsible for any lost or additional keycards or fobs required thereafter at Landlord’s current charge therefor,
which as of the date hereof is $50 per keycard or fob.

 

32.20        COVID Protocols.
Tenant and Tenant’s Visitors shall abide by all Laws and COVID-19 protocols reasonably promulgated by Landlord and that are consistent
with applicable Laws with respect to the common areas of the Building. Any future changes to said COVID-19 protocols shall be commercially
reasonable and in line with protocols adopted by other class A office buildings in New Jersey with multiple occupants with shared amenities.
Tenant shall have the right to institute COVID-19 protocols for Tenant’s Visitors within the Premises in its sole discretion, which
shall be the governing COVID-19 protocols within the Premises (provided that the foregoing do not diminish any right of entry of Landlord
or its agents, employees, and contractors in the Premises for the purposes set forth in this Lease).

 

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32.21       Telecommunications.
Landlord represents that the Building has multiple points of data entry, VoIP technology. The Building’s telecommunications vendors
are Altice and Lumen. Tenant to have the right to add additional vendors, subject to Landlord’s reasonable approval.

 

32.22        Intentionally Omitted

 

32.23        Expedited Arbitration.
In the event of any dispute under this Lease with respect to any matter that may expressly be resolved by arbitration as provided in this
Lease, either party shall have the right to submit such dispute to arbitration in Morris County, NJ under the Expedited Procedures provisions
of the Commercial Arbitration Rules of the AAA (presently Rules 56 through 60) before a single arbitrator; provided, however, that with
respect to any such arbitration, (i) the list of arbitrators referred to in Rule 57 shall be returned within five (5) Business Days from
the date of mailing; (ii) the parties shall notify the AAA by telephone, within four (4) Business Days of notification of the arbitrator
appointed of any objections to the arbitrator appointed and will have no right to object if the arbitrator so appointed was on the list
submitted by the AAA and was not objected to in accordance with the second paragraph of Rule 57; (iii) the Notice of Hearing referred
to in Rule 58 shall be four (4) days in advance of the hearing; (iv) the hearing shall be held within five (5) Business Days after the
appointment of the arbitrator or such other date specified by the arbitrator, (v) the arbitrator shall have no right to award damages;
and (vi) the decision and award of the arbitrator shall be final and conclusive on the parties. If any party fails to appear at a duly
scheduled and noticed hearing for any reason other than an Excusable Delay, the arbitrator is hereby expressly authorized to enter judgment
for the appearing party. The arbitrators conducting any arbitration shall be bound by the provisions of this Lease and shall not have
the power to add to, subtract from, or otherwise modify such provisions. Landlord and Tenant agree to sign all documents and to do all
other things necessary to submit any such matter to arbitration and further agree to, and hereby do, waive any and all rights they or
either of them may at any time have to revoke their agreement hereunder to submit to arbitration and to abide by the decision rendered
thereunder which shall be binding and conclusive on the parties and shall constitute an “award” by the arbitrator within the
meaning of the AAA rules and applicable Law. Judgment may be had on the decision and award of the arbitrators so rendered in any court
of competent jurisdiction. The arbitrator shall be a qualified, disinterested and impartial person who shall have had at least ten years’
experience in the commercial real estate industry in the geographic location where the Premises are located, with a particular focus in
the area of office leasing. Landlord and Tenant shall each have the right to appear and be represented by counsel before said arbitrators
and to submit such data and memoranda in support of their respective positions in the matter in dispute as may be reasonably necessary
or appropriate under the circumstances. Each party hereunder shall pay its own costs, fees and expenses in connection with any arbitration
or other action or proceeding brought under this Section, and the expenses and fees of the arbitrator selected shall be shared equally
by Landlord and Tenant; provided, that, to the extent the arbitrator determines that a party prevailed in a dispute, all of the actual
reasonable out-of-pocket costs incurred by such party in connection with such arbitration shall be borne by the unsuccessful party. Neither
party shall have ex parte communications with any arbitrator selected under this Section following his or her selection and pending
completion of the arbitration hereunder.

 

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ARTICLE 33

 

RENEWAL OPTION

 

33.1.       Tenant
is hereby granted one (1) option to renew this Lease for a renewal term of five (5) years (the “Renewal Term”), subject
to the terms of this Article 33. In the event that Tenant desires to renew this Lease, it shall give notice in writing to Landlord of
its intention to renew the Lease at least twelve (12) months prior to the Termination Date. During the Renewal Term, Tenant shall lease
the Premises in its “AS IS” condition, and all of the terms and conditions of this Lease shall otherwise remain in effect
during the Renewal Term, except that the annual Minimum Rent payable during the Renewal Term shall be the annual fair market renewal rental
value of the Premises based on a comparison of the rents and accrued escalations then being paid by tenants renewing leases for comparable
space in the competitive market area of the Premises, excluding from consideration rent concessions, such as free rent and work letter
allowances, made to tenants leasing space initially, but taking into consideration rent concessions, such as refitting allowance, made
to tenants renewing leases (the “Fair Market Renewal Rent”). The Fair Market Renewal Rent may be lower or higher than
the Minimum Rent payable by Tenant for the Initial Term. In the event the Minimum Rent to be paid during the Renewal Term increases over
the amount paid during the year preceding the first year of such Renewal Term, Landlord may, at its sole option, require Tenant to pay,
on or before the commencement of the Renewal Term, a proportionate increase in the Security Deposit.

 

33.2.       The
Fair Market Renewal Rent of the Premises for purposes of Section 33.1 shall take into account the provisions of this Lease and shall be
determined pursuant to the provisions of this Section 33.2. The Fair Market Renewal Rent shall be initially set forth by Landlord in a
notice to Tenant at least sixty (60) days prior to the commencement of the Renewal Term. The Fair Market Renewal Rent set forth in such
notice shall be binding upon both parties, unless Tenant shall notify Landlord of its objection within twenty (20) days after receipt
of such notice. In the event of such an objection, which is not resolved within twenty (20) days thereafter, Tenant, at its own expense,
shall designate an MAI or SREA appraiser in the Morris County area having not less than 10 years’ experience in the determination
or appraisal of commercial office building rents. Tenant’s designated appraiser shall then determine and promptly report to both
parties in writing the Fair Market Renewal Rent of the Premises, which report shall be binding upon both parties, unless Landlord shall
object to same within twenty (20) days after receipt of said report. If Landlord shall so object, both parties shall jointly appoint a
separate MAI or SREA appraiser who shall determine the Fair Market Renewal Rent by selecting either Landlord’s Fair Market Renewal
Rent determination or Tenant’s designated appraiser’s Fair Market Renewal Rent determination according to whichever of the
two valuations is closer to the actual Fair Market Renewal Rent in the opinion of such separate appraiser. Such separate appraiser shall
be neutral and disinterested and shall not have been employed or engaged by either Landlord or Tenant during the preceding five (5) year
period. The costs of such separate appraiser shall be shared equally by Landlord and Tenant.

 

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33.3.       It
shall be a condition of the exercise of the option set forth in this Article 33 that, at the time of the exercise of said option, Tenant
shall not be in default under this Lease beyond applicable grace periods.

 

33.4.       Tenant
acknowledges and agrees that the option set forth in this Article 33 shall be personal to Tenant and Tenant’s permitted transferees
under Section 14.9 of this Lease, and shall not be exercisable by any party other than Tenant named herein and its permitted assignees.
Furthermore, notwithstanding anything herein to the contrary, Tenant shall not have the right to exercise the renewal option(s) set forth
herein if the amount of Rentable Area of the Premises leased by Tenant during the Renewal Term is fifty (50%) percent or less than the
amount of Rentable Area leased by Tenant as of the Commencement Date.

 

ARTICLE 34

 

CONFIDENTIALITY

 

Landlord and Tenant each agrees
that the terms and conditions of this Lease shall be kept private and confidential, except to the extent that the same may be submitted
to a third party (including attorneys, accountants, financiers, investors, partners of Landlord or Tenant) solely: (i) for legitimate
business and regulatory purposes (including, but not limited to, proposed financing by Landlord or a proposed assignment or sublease by
Tenant of this Lease); or (ii) to comply with any requirements imposed by Laws. Without limiting the foregoing, Landlord acknowledges
that, as a public company, Tenant may disclose the basic business terms of this Lease or a copy of the Lease itself in filings made with
the United States Securities and Exchange Commission. Notwithstanding anything herein to the contrary, in the event of a breach of this
Paragraph 34, Landlord and Tenant agree that the remedies available to the non-breaching party shall not include a termination of this
Lease.

 

ARTICLE 35

 

INCLUDED FF&E

 

Tenant shall have the right
to use during the term of this Lease, all of the furniture, fixtures and equipment set forth on Exhibit I attached hereto
and made a part hereof (the “Included FF&E”), and Landlord makes no representation or warranty with respect to
any such Included FF&E; provided, however, that on or before August 1, 2022, Tenant shall remove any items of Included FF&E it
desires (any such items, the “Removed FF&E”) at Tenant’s sole cost (up to the point of loading such Removed
FF&E on to trucks to be provided by Landlord, and Landlord shall be responsible for all costs and expense associated with transporting
and storing such Removed FF&E at its sole cost and expense) following the date hereof in coordination with, and pursuant to the instructions
of, Landlord with respect to the same (and such items of Removed FF&E shall no longer constitute Included FF&E hereunder). Tenant
shall maintain such Included FF&E in good working order at its sole cost and expense throughout the term of this Lease, reasonable
wear and tear and damage from casualty excepted, and make any changes thereto and any repairs and replacements thereto necessary to keep
such Included FF&E in good working order. Tenant shall not remove the Included FF&E during the Term hereof or upon the expiration
or earlier termination of this Lease, the parties agreeing that such Included FF&E is and shall remain the property of Landlord. Landlord
and Tenant have not allocated any Rent to the Included FF&E.

 

[SIGNATURE BLOCKS

ON NEXT PAGE]

 

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IN WITNESS WHEREOF, the parties
hereto have executed this Lease on the date first above written.

 

	 	LANDLORD:
	 	 
	 	UNITED STATES FIRE INSURANCE COMPANY
	 	 	 
	 	 	 
	 	By: 	/s/ Nicole Mort
	 	Name: 	Nicole Mort
	 	Title: 	VP of Real Estate
	 	 	 
	 	Dated: 	2/7/2022
	 	 	 
	 	 	 
	 	TENANT:
	 	 	 
	 	INTERCEPT PHARMACEUTICALS, INC.
	 	 	 
	 	 	 
	 	By: 	/s/ Andrew Saik
	 	Name: 	Andrew Saik
	 	Title: 	Chief Financial Officer
	 	 	 
	 	Dated: 	February 7, 2022

 

Legal Approved

By: Jon Miles

Date: 2/7/22

 

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EXHIBIT A

 

DESCRIPTION OF THE PROPERTY

 

[INTENTIONALLY OMITTED]

 

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EXHIBIT B

 

FLOOR PLAN FOR THE PREMISES

 

[INTENTIONALLY OMITTED]

 

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EXHIBIT C

 

MINIMUM RENT FOR THE PREMISES

 

	Term	Annual	Monthly	Monthly w/ERIF*	$/RSF
	Lease Year 1	$759,046.00	$63,253.83	$67,070.87	$29.00
	Lease Year 2	$778,022.15	$64,835.18	$68,652.22	$29.73
	Lease Year 3	$797,472.70	$66,456.06	$70,273.10	$30.47
	Lease Year 4	$817,409.52	$68,117.46	$71,934.50	$31.23
	Lease Year 5	$837,844.76	$69,820.40	$73,637.44	$32.01

 

* Based on ERIF of $1.75/rsf, subject to change
as set forth in Exhibit G.

 

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EXHIBIT D

 

TENANT IMPROVEMENTS; WORK LETTER

 

 

Section 1.1.      The provisions of this Exhibit
(the “Work Letter”) shall have the same force and effect as if this Exhibit were a numbered Article of the Lease.

 

Section 2.1      Landlord and Tenant have attached
to this Exhibit preliminary plans for the construction of the Premises that have been approved by Landlord and Tenant (the “Preliminary
Plans”). As used in the Lease and this Exhibit, the term "Tenant Improvements" means those items of general
tenant improvement construction shown on the Final Plans (defined below), including, but not limited to, partitioning, doors, ceilings,
floor coverings, installation and completion of interior sides of exterior walls, wall finishes (including paint and wall coverings),
electrical (including lighting, switching, telephones, outlets, etc.), plumbing, heating, ventilating and air conditioning, fire protection,
cabinets and other millwork and distribution of Building services such as sprinkler and electrical service. Tenant shall, at Tenant's
sole cost and expense (but subject to the Allowance and Landlord’s contribution for the cost of the Pantry Work), arrange for the
construction of the Tenant Improvements. The Tenant Improvements shall be constructed in substantial accordance with the Final Plans (hereinafter
defined) finalized from the Preliminary Plans, which construction shall be completed in a good and workmanlike manner and in compliance
with all applicable Laws.

 

Section 3.1.       (a)     In order to finalize the Preliminary
Plans or in the event that Tenant desires any change in the Preliminary Plans before finalization, Tenant shall submit to Landlord, proposed
final plans setting forth the finalization of the Preliminary Plans including any proposed change therein. Within five (5) Business Days
after receipt of any proposed finalization (with or without changes) of the Preliminary Plans from Tenant, Landlord shall reasonably approve
or reject same and if rejecting same shall state the reasons for such rejection. In the event of a rejection by Landlord of any proposed
final plans, Tenant may make changes to the proposed final plans and resubmit them pursuant hereto and Landlord and Tenant shall, in good
faith, expeditiously address the reasons for Landlord’s rejection until such proposed final plans are finalized. Upon receiving
Landlord's approval to any proposed final plans, such plans shall become the Final Plans (the “Final Plans”) hereunder.
Tenant’s Final Plans will include locations and complete dimensions, and be in sufficient form and quality to obtain all necessary
governmental permits and approvals. The Tenant Improvements, as shown on the Final Plans, will: (i) be compatible in all material respects
with the Building shell, and with the design, construction and equipment of the Building; (ii) be compatible with Building standards for
the Building; and (iii) comply with all applicable Laws and all applicable insurance regulations.

 

(b)       In
the event that Tenant desires any change in the Final Plans, Tenant shall submit to Landlord revised final plans setting forth the proposed
change. Within five (5) Business Days after receipt of any proposed changes in the Final Plans from Tenant, Landlord shall reasonably
approve or reject same and if rejecting same shall state the reasons for such rejection. In the event of a rejection by Landlord of a
proposed revision, Tenant may make changes to the proposed revision and resubmit it pursuant hereto and Landlord and Tenant shall, in
good faith, expeditiously address the reasons for Landlord’s rejection until such final plans are finalized. Upon the submission
of such revised final plans, such revised final plans shall become the Final Plans hereunder.

 

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Section 4.1.      (a)      In connection with the
construction of Tenant Improvements, Tenant shall have the right to select its general contractor, subcontractor(s), architectural firm
and project manager (collectively the “Construction Professionals”), subject to Landlord’s approval, which approval
shall not be unreasonably withheld or delayed.

 

(b)       In
selecting its Construction Professionals, Tenant must first submit a list of Construction Professionals to Landlord, which list shall
be subject to Landlord’s reasonable approval, which approval shall not be unreasonably withheld or delayed.

 

(c)       Tenant
shall promptly pay the Construction Professionals for Tenant’s Tenant Improvements.

 

(d)      This
Work Letter Agreement is solely for the benefit of Landlord and Tenant and no third parties shall have any rights herein or hereunder.

 

Section 5.1      Landlord appoints the following
person(s) as Landlord’s representative ("Landlord’s Representative") to act for Landlord in all matters covered
by this Work Letter:

 

Nicole Mort, Vice President of Real Estate

 

Tenant appoints the following person(s) as Tenant’s
representative ("Tenant Representative") to act for Tenant in all matters covered by this Work Letter:

 

Don Sedia, Director of Facilities

 

All communications with respect to the matters
covered by this Work Letter are to be made in writing to Landlord’s Representative or Tenant’s Representative, as the case
may be. Either party may change its representative under this Work Letter at any time by written notice to the other party.

 

Section 6.1.      Landlord hereby grants to Tenant
a Tenant Improvement Allowance of Three Hundred Ninety-Two Thousand Six Hundred Ten and 00/100 Dollars ($392,610.00) (the "Allowance").
The Allowance may be used to offset the “hard” and “soft” costs of the construction of the Tenant Improvements.
Notwithstanding anything to the contrary contained herein, Landlord shall have no obligation to disburse any portion of the Allowance
after December 31, 2022 (except for any portion of the Allowance which is undrawn at such time and comprises retainage or amounts in bona
fide dispute, which may be thereafter drawn).

 

Section 6.2      To the extent that the total projected
cost of the Tenant Improvements exceeds the Allowance (such excess, the “Excess TI Costs”), Tenant shall pay the costs
of the Tenant Improvements on a pari passu basis with Landlord as such costs become due, in the proportion of Excess TI Costs payable
by Tenant to the Allowance payable by Landlord. Landlord shall pay to Tenant the applicable portion of the Allowance within thirty (30)
days following the date Tenant submits to Landlord (i) an Application and Certificate for Payment in the form attached hereto as Schedule
1 to Work Letter duly executed by Tenant’s contractor and architect and (ii) proof reasonably satisfactory to Landlord that Tenant’s
contractors have received payment for the prior requisition and will be paid out of the current requisition for such work. Tenant acknowledges
and agrees that, in no event shall Tenant make a request for payment more than once in any thirty (30) day period. Tenant further acknowledges
and agrees that the final ten percent (10%) of the Tenant Allowance payable hereunder shall not be made until such time as Landlord’s
receipt of (i) proof that all subcontractors, laborers and materialmen engaged in or supplying materials for that portion of Tenant Improvements
for which Tenant is requesting payment have been paid in full, together with lien waivers from all subcontractors, laborers and materialmen
engaged in or supplying materials for said work (other than any amounts in bona fide dispute and any retainage remaining to be released),
and (ii) Tenant’s delivery to Landlord of a copy of a temporary or permanent certificate of occupancy for the Premises (or amendment
to the existing certificate of occupancy). Notwithstanding the foregoing, in the event the Landlord performs any of the work necessary
to construct the Tenant Improvements, the cost of said work shall be credited against the Allowance and the amount so credited shall reduce
the amount of the Allowance payable hereunder.

 

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Section 7.1      Landlord’s consent to the
Tenant Improvements shall not be deemed to be an agreement or consent by Landlord to subject its interest in the Building or the Premises
to any liens which may be filed in connection therewith. Tenant acknowledges that the Tenant Improvements are to be accomplished for Tenant's
account, subject to the Allowance, Landlord having no obligation or responsibility in respect thereof.

 

Section 8.1      Tenant shall afford Landlord and
its representatives access to the Premises at reasonable times upon advance notice, for the purpose of observing and inspecting the construction
of the Tenant Improvements and of evaluating the workmanship. In addition, Tenant shall provide Landlord with five (5) Business Days advance
notice of all progress meetings or calls conducted by the responsible representatives of the various trades engaged on the project. A
representative of Landlord shall have the opportunity to be present at all such progress meetings or calls.

 

Section 9.1      Landlord agrees that upon Tenant’s
request, Landlord’s agent shall reasonably cooperate, at no cost or liability to Landlord, with Tenant in connection with Tenant’s
efforts to obtain any permits, or approvals required for the construction of the Tenant Improvements, all of which shall be Tenant’s
sole responsibility hereunder. Landlord shall execute all applications for permits and approvals reasonably requested by Tenant.

 

Section 10.1      (a)       At all times during the period
between the commencement of construction of Tenant Improvements and the opening for business in the Premises, Tenant shall maintain, or
cause to be maintained, casualty insurance in Builder’s Risk form, covering the Additional Insureds, Tenant and Tenant’s contractors,
as their interests may appear, against loss or damage by fire, vandalism and malicious mischief and other such risks as are customarily
covered by the so called “extended coverage endorsement” upon all Tenant Improvements in place and all materials stored at
the site or Tenant Improvements and all materials, equipment, supplies and temporary structures of all kinds incident to Tenant Improvements
and builder’s machinery, tools and equipment, all while forming a part of, or contained in, such improvements or temporary structures
while on the Premises or when adjacent thereto, while on malls, drives, sidewalks, streets or alleys, all to the full insurable value
thereof at all times. Said Builder’s Risk insurance shall contain an express waiver of any right of subrogation by the insurance
company against the Additional Insureds.

 

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(b)       WORKER’S
COMPENSATION: At all times during the period of construction of Tenant Improvements, Tenant’s contractors and subcontractors shall
maintain in effect statutory Worker’s Compensation and Occupational Disease Insurance as required by the State where the Building
is located.

 

(c)       PUBLIC
LIABILITY INSURANCE: At all times during the period between the commencement of construction of Tenant Improvements and the opening for
business in the Premises, Tenant shall secure and cause to be maintained in effect, at Tenant’s cost and expense, a Comprehensive
General Liability Policy on an occurrence basis with limits of not less than $2,000,000 including Property Damage, Water Damage and Sprinkler
Leakage Liability. The Liability Policy shall be on a Comprehensive General and Automobile Liability form and shall include, but not be
limited to, coverage for all operations of Tenant, Tenant’s contractor and subcontractors, including automobile coverage (for both
owned and non-owned vehicles), contractual liability, completed operations liability and contingent or protective liability.

 

(d)       CANCELLATION:
The policies of insurance referred to in this Section 10.1 shall contain the following endorsement: “It is understood and agreed
that the coverage of this policy shall not be cancelled or modified by the company until the company has mailed written notice, by registered
or certified mail, to Landlord stating when, but in no event less than twenty (20) days thereafter, such cancellation or modification
in coverage shall be effective.”

 

Section 11.1      Tenant agrees to pay Landlord
as Additional Rent, on demand, an administrative fee equal to the sum of the out-of-pocket fees of any third party architect, engineer
or attorney employed by Landlord to review of plans and specifications for the Tenant Improvements.

 

Section 12.1      Landlord and Tenant acknowledge
that a portion of the Tenant Improvements includes the encapsulation of a pantry within the Premises. Tenant shall solicit bids for the
Pantry Work, which bids shall be subject to the reasonable approval of Landlord. Upon Landlord’s approval of the cost of the Pantry
Work, the Allowance hereunder shall be deemed increased by the approved cost of such Pantry Work.

 

Section 13.1       A dispute under this Exhibit D shall
be resolved by an expedited arbitration proceeding under Section 32.23 of this Lease.

 

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EXHIBIT D-1

 

PRELIMINARY PLANS

 

[INTENTIONALLY OMITTED]

 

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EXHIBIT E

 

RULES AND REGULATIONS

 

1.       Tenant
shall not obstruct or permit Tenant’s Visitors to obstruct, in any way, the sidewalks, entry passages, corridors, halls, stairways
or elevators of the Building, or use the same in any way other than as a means of passage to and from the Premises; bring in, store, test,
or use any materials in the Building which could cause a fire or an explosion or produce any fumes or vapor; make or permit any improper
noises in the Building; smoke in any elevator or Common Area, or within the Premises; throw substances of any kind out of windows or doors,
or down the passages of the Building, or in the halls or passageways; sit on or place anything upon the window sills; or clean the windows.

 

2.       Water
closets and urinals shall not be used for any purpose other than those for which they were constructed and no sweepings, rubbish, ashes,
newspaper, or any other substances of any kind shall be thrown into them. Waste and excessive or unusual use of electricity or water is
prohibited.

 

3.       The
windows, doors, partitions, and lights that reflect or admit light into the halls or other places of the Building shall not be obstructed.
NO SIGNS, ADVERTISEMENTS, OR NOTICES SHALL BE INSCRIBED, PAINTED, AFFIXED OR DISPLAYED IN, ON, UPON, OR BEHIND ANY WINDOWS, except as
may be required by Law or agreed upon by the parties; and no sign, advertisement, or notice shall be inscribed, painted, or affixed on
any doors, partitions, or other part of the inside of the Building, without the prior written consent of Landlord.

 

4.       No
contract of any kind with any supplier of towels, water, ice, toilet articles, waxing, rug shampooing, venetian blind washing, furniture
polishing, lamp servicing, cleaning of electrical fixtures, removal of waste paper, rubbish or garbage, or other like service shall be
entered into by Tenant, nor shall any vending machine of any kind be installed in the Building without the prior written consent of Landlord.

 

5.       When
electric wiring of any kind is introduced, it must be connected as directed by Landlord, and no stringing or cutting of wires will be
allowed, except with the prior written consent of Landlord, and shall be done only by contractors approved by Landlord. Landlord’s
consent shall not be unreasonably withheld in each of the foregoing cases.

 

6.       Landlord
shall have the right to prescribe the weight, size, and position of all safes and other bulky or heavy equipment and all freight brought
into the Building by any tenant and the time of moving the same in and out of the Building. All such moving shall be done under the supervision
of Landlord. Landlord will not be responsible for loss of or damage to any such equipment or freight from any cause, but all damage done
to the Building, including, but not limited to, the elevators, by moving or maintaining any such equipment or freight shall be repaired
at the expense of Tenant. All safes shall stand on a base of such size as shall be designated by Landlord. Landlord reserves the right
to inspect all freight to be brought into the Building and to exclude from the Building all freight which violates any of these Rules
and Regulations or the Lease of which these Rules and Regulations are a part.

 

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7.       No
machinery of any kind or articles of unusual weight or size will be allowed in the Building, without the prior written consent of Landlord.
Business machines and mechanical equipment shall be placed and maintained by Tenant, at Tenant’s expense, in settings sufficient,
in Landlord’s judgment, to absorb and prevent vibration, noise and annoyance to other tenants.

 

8.       No
additional or different lock or locks shall be placed by Tenant on any door in the Building, without the prior written consent of Landlord
which shall not be unreasonably withheld. Two keys will initially be furnished to Tenant by Landlord; two additional keys will be supplied
to Tenant by Landlord upon request, without charge; any additional keys requested by Tenant shall be paid for by Tenant. Tenant, its agents
and employees, shall not have any duplicate key made. All keys to doors and washrooms shall be returned to Landlord on or before the Termination
Date, and, in the event of a loss of any keys furnished, Tenant shall pay Landlord the cost thereof.

 

9.      Tenant
shall not employ any person or persons for the purpose of cleaning the Premises, without the prior written consent of Landlord except
that Tenant may do light cleaning without such prior written consent. Landlord shall not be responsible to Tenant for any loss of property
from the Premises, however occurring, or for any damage done to the effects of Tenant by such janitors or any of its employees or by any
other person or any other cause.

 

10.       No
bicycles, vehicles, or animals of any kind shall be brought into or kept in or about the Premises.

 

11.      The
requirements of Tenant will be attended to only upon application at the office of Landlord. Employees of Landlord shall not perform any
work for Tenant or do anything outside of their regular duties, unless under special instructions from Landlord.

 

12.       The
Premises shall not be used for lodging or sleeping purposes, and cooking therein (but not food warming) is prohibited.

 

13.       Tenant
shall not conduct, or permit any other person to conduct, any auction upon the Premises; manufacture or store goods, wares, or merchandise
upon the Premises, without the prior written approval of Landlord, except the storage of usual supplies and inventory to be used by Tenant
in the conduct of its business; permit the Premises to be used for gambling; make any unusual noises in the Building; permit to be played
any musical instrument in the Premises; permit to be played any radio, television, recorded, or wired music in such a loud manner as to
disturb or annoy other tenants; or permit any unusual odors to be produced upon the Premises.

 

14.       No
awnings or other projections shall be attached to the outside walls of the Building. No curtains, blinds, shades, or screens shall be
attached to or hung in, or used in connection with any window or door of the Premises, without the prior written consent of Landlord.
Such curtains, blinds, and shades must be of a quality, type, design, and color, and attached in a manner approved by Landlord.

 

15.       Canvassing,
soliciting, and peddling in the Building are prohibited, and Tenant shall cooperate to prevent the same.

 

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16.       There
shall not be used in the Premises or in the Building either by Tenant or by others in the delivery or receipt of merchandise, supplies,
or equipment, any hand trucks except those equipped with rubber tires and side guards. No hand trucks will be allowed in passenger elevators.

 

17.       Tenant,
before closing and leaving the Premises, shall ensure that all entrance doors are locked.

 

18.       Landlord
shall have the right to prohibit any advertising by Tenant of its Premises in the Building which in Landlord’s reasonable opinion
tends to impair the reputation of the Building or its desirability as a building for offices, and upon written notice from Landlord, Tenant
shall refrain from or discontinue such advertising.

 

19.       Landlord
hereby reserves to itself any and all rights not granted to Tenant hereunder, including, but not limited to, the following rights which
are reserved to Landlord for its purposes in operating the Building: (a) the exclusive right to the use of the name of the Building for
all purposes, except that Tenant may use the name of its business address and for no other purpose; (b) the right to change the name or
address of the Building, without incurring any liability to Tenant for so doing; (c) the right to install and maintain a sign or signs
on the exterior of the Building; (d) the exclusive right to use or dispose of the use of the roof of the Building; (e) the right
to limit the space on the directory of the Building to be allotted to Tenant (but in no event shall Tenant be entitled to less than a
proportionate share of such directory space); and (f) the right to grant to anyone the right to conduct any particular business or undertaking
on the Building.

 

20.       Tenant
shall list all articles to be taken from the Building (other than those taken out in the usual course of business of Tenant) on Tenant’s
letterhead, or a blank which will be furnished by Landlord. Such list shall be presented at the office of the Building for approval before
such articles are taken from the Building.

 

21.       Tenant
shall have the non-exclusive right to use in common with Landlord and other tenants of the Building and their employees and invitees the
parking area provided by Landlord for the parking of passenger automobiles in accordance with the provisions of the Lease, other than
parking spaces specifically allocated to others by Landlord. Landlord may issue parking permits, install a gate system, and impose any
other system as Landlord deems necessary for the use of the parking area. Tenant agrees that it and its employees and invitees shall not
park their automobiles in parking spaces allocated to others by Landlord (as indicated by appropriate signage) and shall comply with such
rules and regulations for use of the-parking area as Landlord may from time to time prescribe. Other than to the extent attributable to
Landlord’s negligence or willful misconduct, Landlord shall not be responsible for any damage to or theft of any vehicle in the
parking area and shall not be required to keep parking spaces clear of unauthorized vehicles or to otherwise supervise the use of the
parking area. Landlord reserves the right to change any existing or future parking area, roads or driveways, and may make any repairs
or alterations it deems necessary to the parking area, roads and driveways and to temporarily revoke or modify the parking rights granted
to Tenant hereunder, all in a manner consistent with historical practices and on a non-discriminatory basis. Landlord further reserves
the right, but shall not be obligated to, require that (i) Tenant’s and Tenant’s Visitors’ vehicles be stickered
with an identification sticker and (ii) vehicles parked in violation of the Lease (including the rules and regulations) be towed at Tenant’s
expense without any liability of Landlord with respect to the same. Furthermore, Tenant consents to the municipal enforcement of Title
39 of the New Jersey Statutes regarding handicapped parking spaces.

 

22.       Tenant
shall not use the Premises or permit the Premises to be used for the sale of food or beverages, other than through vending machines for
the convenience of Tenant’s employees.

 

    3

     

    

 

EXHIBIT F

 

CLEANING SPECIFICATIONS FOR THE BUILDING

 

NIGHTLY SERVICE — OFFICE AREAS

 

		·	We will vacuum clean all carpeted areas located in high traffic areas

		·	We will sweep and dust mop all non-carpeted areas. Damp mopping non-carpeted
areas will be completed as required.

		·	We will hand dust with a chemically treated cloth all furniture, desks, file
cabinets, tables, windowsills, partitions, ledges and radiator covers. The personal property of a tenant, in the areas previously outlined,
will not be treated or disturbed.

		·	We will dust and clean the conference room tables and desktops, if cleared
by the tenant for a complete and thorough cleaning.

		·	We will empty all waste receptacles, remove to designated area; damp wipe
trash cans as required. We will replace liners (from Landlord's stock) as needed.

		·	We will empty all recyclable receptacles, keep separated from regular trash
and remove to a designated area; damp wipe trash cans as required. We will replace liners (if any from Landlord's stock) as needed.

		·	We will spot clean to remove all finger marks and smudges from vertical surfaces
within arm's reach.

		·	We will clean glass entrance doors and surrounding windows.

		·	We will dry damp mop all computer floors areas for a dust free operation,
with special care taken for the floor cables and wires (if applicable).

		·	We will spot clean carpet spots, not exceeding approximately six inches in
diameter. Please note that any carpet spots caused from liquids placed by the tenant in the wastebaskets will be removed at an additional
charge to the tenant.

WEEKLY SERVICE — OFFICE AREAS 

 

		·	We will vacuum clean all carpeted areas

		·	We will spot clean, within reach, with a damp cloth the tables, filing cabinets,
accessible desktops, shelves, door moldings, windowsills and walls.

  

    1

     

    

 

MONTHLY SERVICE - OFFICE AREAS

 

 

 

		·	We will squeegee clean all interior glass entrances.

		·	We will detail vacuum with a crevice tool all tenant space corners and edges.

NIGHTLY SERVICE — PANTRIES

 

		·	We will sweep and mop floors.

		·	We will wipe down all counters and tabletops.

		·	We will empty all waste receptacles, remove to designated area; damp wipe
trash cans as required. We will replace liners (from Landlord's stock) as needed.

		·	We will empty all recyclable receptacles, keep separated from regular trash
and remove to a designated area; damp wipe trash cans as required. We will replace liners (if any from Landlord's stock) as needed.

NIGHTLY SERVICE — RESTROOMS

 

		·	We will sweep and clean the floors in all restrooms using a germicidal detergent
to ensure a clean and germ-free surface.

		·	We will thoroughly scour, wash and clean all wash basins and sinks using
a germicidal detergent.

		·	We will wash, inside and out, using a disinfectant detergent, all toilet
seats, toilet bowls and urinals.

		·	We will empty and sanitize all waste receptacles.

		·	We will empty and sanitize sanitary disposal receptacles.

		·	We will hand dust and clean all dispensers and dispenser receptacles.

		·	We will dust all door levers and other ventilating levers within reach nightly.

		·	We will damp wipe and polish all mirrors, shelving, dispensers, fixtures
and piping.

		·	We will keep all lavatory partitions and tiled walls in a clean condition
using a germicidal detergent when necessary.

 

 

 

 

    2

     

    

  

		·	We will fill all toilet paper, hand towel dispensers and other paper dispensers
(from Landlord's stock) and soap dishes.

		·	Upon completion of work, all slop sinks are to be thoroughly cleaned.

 

ADDITIONAL SERVICES UPON REQUEST

 

Additional services, including, but not limited
to carpet shampooing. floor stripping & refinishing, construction clean ups. exterior power washing, as well as any and all detail
cleaning (restrooms, lobby floors, etc.) that may be requested, will be completed upon request for an additional charge.

 

Tenant shall be entitled to obtain such enhanced
services as Landlord shall adopt for its own spaces at no additional cost to Tenant.

 

 

    3

     

    

 

EXHIBIT G

 

ELECTRICITY RIDER

 

		(a)	Electricity shall be supplied to the Premises during the term in accordance with the provisions of paragraph
(c) of this Exhibit. However, at any time and from time to time during the term hereof, provided it is then permissible under the provisions
of applicable Law, Landlord shall have the option to have electricity supplied to the Premises in accordance with paragraph (d) or (f)
of this Exhibit.

 

		(b)	For the purposes of this Exhibit:

 

(i)                 
The term "Electric Rate" shall mean the Service Classification pursuant to which Tenant would purchase electricity
directly from the utility company servicing the Building, provided, however, at no time shall the amount payable by Tenant for electricity
be less than Landlord's Cost per Kilowatt and Cost per Kilowatt Hour (as such terms are hereinafter defined), and provided further that
in any event, the Electric Rate shall include all applicable surcharges, and demand, energy, losses, fuel adjustment and time of day charges
(if any), taxes and other sums payable in respect thereof.

 

(ii)               
The term "Cost per Kilowatt Hour" shall mean the total cost for electricity incurred by Landlord to service the
Building during a particular time period (including all applicable surcharges, and energy, fuel adjustment and time of day charges (if
any), taxes and other sums payable in respect thereof) divided by the total kilowatt hours purchased by Landlord during such period.

 

(iii)             
The term "Cost per Kilowatt" shall mean the total cost for demand incurred by Landlord to service the Building
during a particular time period (including all applicable surcharges, demand, and time of day charges (if any), taxes and other sums payable
in respect to thereof) divided by the total kilowatts purchased by Landlord during such period.

 

(c)              
Landlord shall initially supply electricity to service the Premises on a “rent inclusion” basis. For so long as Landlord
elects to provide electricity to the Premises on a rent inclusion basis, Tenant agrees that the Minimum Rent shall be increased by the
amount of the Electricity Rent Inclusion Factor ("ERIF"), which is currently One and 75/100 Dollars ($1.75) per square
foot of the Rentable Area per annum. Tenant acknowledges and agrees that notwithstanding that the Minimum Rent hereinabove set forth in
this Lease does not reflect the ERIF, Tenant shall pay the ERIF in the same manner and at the same time as Minimum Rent during any period
Landlord elects to provide electricity to the Premises on a rent inclusion basis. Notwithstanding anything contained herein to the contrary,
in no event, whether because of surveys or for any other reason, is the originally specified per rentable square foot ERIF portion of
the Minimum Rent to be reduced below $1.75.

 

    1

     

    

 

(d)              
 

(i)                 
If Landlord elects to install “check meters” or “submeters” in the Premises, Landlord shall supply electricity
to service the Premises on a "check meter" or “submeter” basis, and Tenant shall pay to Landlord, as Additional
Rent, the sum of (y) an amount determined by applying the Electric Rate or, at Landlord's election, the Cost per Kilowatt Hour and Cost
per Kilowatt, to Tenant's consumption of and demand for electricity within the Premises as recorded on the meter or meters servicing the
Premises, and (z) the actual administrative costs incurred by Landlord in supplying electricity on a "check metered" or “submetered”
basis (such combined sum being hereinafter called "Electric Rent"). Except as set forth in the foregoing clause (z),
Landlord will not charge Tenant more than the Electric Rate or, at Landlord's election, the Cost per Kilowatt and Cost per Kilowatt Hour
for the electricity provided pursuant to this paragraph. All costs incurred by Landlord to install the check meter(s) and any other equipment
necessary to enable Tenant to obtain electricity from Landlord on a check meter or submeter basis shall be paid by Landlord.

 

(ii)               
Where more than one meter measures the electric service to Tenant, the electric service rendered through each meter shall be read
conjunctively with other meters and totalized and billed in accordance with the provisions hereinabove set forth.

 

(iii)             
Tenant shall pay to Landlord, on account of the Electric Rent payable pursuant to this paragraph (d), the annual sum of $1.75 per
square foot of Rentable Area ("Estimated Electric Rent"), subject to the adjustments on the first day of each and every
calendar month of the term (except that if the first day of the term is other than the first day of a calendar month, the first monthly
installment, prorated to the end of said calendar month, shall be payable on the first day of the first full calendar month).

 

(iv)             
From time to time during the term, the Estimated Electric Rent may be adjusted by Landlord on the basis of Tenant's actual consumption
of and demand for electricity as recorded on the meter(s) servicing the Premises, and the Electric Rate or Cost per Kilowatt and Cost
per Kilowatt Hour then in effect.

 

(v)               
Subsequent to the end of each calendar year during the Term, or more frequently if Landlord shall elect, Landlord shall submit
to Tenant a statement of the Electric Rent for such year or shorter period together with the components thereof, as set forth in clause
(i) of this paragraph (c) ("Electric Statement"). To the extent that the Estimated Electric Rent paid by Tenant for the
period covered by the Electric Statement shall be less than the Electric Rent as set forth on such Electric Statement, Tenant shall pay
Landlord the difference within 30 days after receipt of the Electric Statement. If the Estimated Electric Rent paid by Tenant for the
period covered by the Electric Statement shall be greater than the Electric Rent as set forth on the Electric Statement, such difference
shall be credited against the next required payment(s) of Estimated Electric Rent. If no Estimated Electric Rent payment(s) shall thereafter
be due, Landlord shall pay such difference to Tenant.

 

    2

     

    

 

(vi)             
For any period during which the meter(s) servicing the Premises are inoperative, the Electric Rent shall be determined by Landlord,
based upon its reasonable estimate of Tenant's actual consumption of and demand for electricity, and the Electric Rate or Cost per Kilowatt
and Cost per Kilowatt Hour then in effect.

 

		(e)	Landlord may elect to discontinue supplying electrical service to the Premises and upon such election, Landlord
shall provide at least ninety (90) days' prior written notice to Tenant, and Tenant shall make its own arrangements to obtain electricity
directly from the utility company furnishing electricity to the Building. The cost of such service shall be paid by Tenant directly to
such utility company. Landlord shall permit its electric feeders, risers and wiring serving the Premises to be used by Tenant, to the
extent available, safe and capable of being used for such purpose without cost. All meters and all additional panel boards, feeders, risers,
wiring and other conductors and equipment which may be required to enable Tenant to obtain electricity of substantially the same quality
and character, shall be installed by Landlord at Landlord’s sole cost and expense.

 

		(f)	Bills for electricity supplied pursuant to paragraph (d) of this Exhibit (sub-metering basis) shall be rendered
to Tenant at such times as Landlord may elect, provided that Tenant pays to Landlord the Estimated Electric Rent concurrently with the
payment of Minimum Rent hereunder. Tenant's payments for electricity supplied in accordance with paragraphs (d) of this Exhibit shall
be due and payable within 30 days after delivery of a statement therefor, by Landlord to Tenant. If any tax is imposed upon Landlord's
receipts from the sale of electricity to Tenant by legal requirements, Tenant agrees that, unless prohibited by such legal requirements,
Tenant's Percentage of such taxes shall be included in the bills of, and paid by Tenant to Landlord, as Additional Rent.

 

		(g)	Landlord's failure during the term to prepare and deliver any statements or bills under this Exhibit, or
Landlord's failure to make a demand under this Exhibit, shall not in any way be deemed to be a waiver of, or cause Landlord to forfeit
or surrender, its rights to collect any amount of additional rent which may become due pursuant to this Exhibit. Tenant's liability for
any amounts due under this Exhibit shall survive only for a period of twenty-four (24) months after the Lease Year in which such electric
charges were incurred, provided that nothing contained herein shall be deemed a waiver of Landlord's right to bill and collect any amounts
due hereunder incurred or accruing in any future Lease Years.

 

		(h)	Tenant's failure or refusal, for any reason, to utilize the electrical energy provided by Landlord, shall
not entitle Tenant to any abatement or diminution of Minimum Rent or Additional Rent, or otherwise relieve Tenant from any of its obligations
under this Lease.

 

		(i)	Landlord shall not be liable in any way to Tenant for any failure or defect in the supply or character of
electric energy furnished to the Premises by reason of any requirement, act or omission of the public utility providing the Building with
electricity or for any other reason whatsoever. If either the quantity or character of the electrical service is changed by the utility
company supplying electrical service to the Building or is no longer available or suitable for Tenant's requirements, or if there shall
be a change, interruption or termination of electrical service due to a failure or defect on the part of the utility company, no such
change, unavailability, unsuitability, failure or defect shall constitute an actual or constructive eviction, in whole or in part, or
entitle Tenant to any payment from Landlord for any loss, damage or expense, or to abatement or diminution of Minimum Rent or Additional
Rent, or otherwise relieve Tenant from any of its obligations under this Lease, or impose any obligation upon Landlord or its agents.
Landlord shall not be responsible for any failures of the utility providing such service or the negligence or other acts of third parties
causing any such interruption, except as specifically provided to the contrary in this Lease. Without limiting the foregoing, in no event
shall Landlord be liable to Tenant for any consequential damages or business interruption arising from any such failure or defect.

 

    3

     

    

 

		(j)	Tenant shall not make any electrical installations, alterations, additions or changes to the electrical equipment
in the Premises without prior written consent of Landlord in each such instance (which consent shall not be unreasonably withheld, conditioned,
or delayed). Tenant shall comply with the rules and regulations applicable to the service, equipment, wiring and requirements of Landlord
and of the utility company supplying electricity to the Building. Tenant agrees that its use of electricity in the Premises will not exceed
the capacity of existing feeders to the Building or the risers or wiring installations therein and Tenant shall not use any electrical
equipment which, in Landlord's judgment, will overload such installations or interfere with the use thereof by other Tenants in the Building.
If, in Landlord's judgment, Tenant's electrical requirements necessitate installation of an additional riser, risers or other proper and
necessary equipment or services, including additional ventilating or air-conditioning, the same shall be provided or installed by Landlord
at Tenant's expense, which shall be chargeable and collectible as Additional Rent and paid within 30 days after the rendition to Tenant
of a bill therefor.

 

		(k)	If, after Landlord's initial installation work, (i) Tenant shall request the installation of additional risers,
feeders or other equipment or service to supply its electrical requirements and Landlord shall determine that the same are necessary and
will not cause damage or injury to the Building or the Premises or cause or create a dangerous or hazardous condition or entail excessive
or unreasonable alterations, repairs or expense or interfere with or disturb other Tenants or occupants of the Building, or (ii) Landlord
shall determine that the installation of additional risers, feeders or other equipment or service to supply Tenant's electrical requirements
is reasonably necessary in Landlord's good faith judgment, then and in either of such events Landlord shall cause such installations to
be made, at Tenant's sole cost and expense and Tenant shall pay Landlord for such installations, as Additional Rent, within 30 days after
submission of a statement therefor.

 

		(l)	Landlord, at Tenant's expense, shall furnish and install all replacement lighting tubes, lamps, ballasts
and bulbs required in the Premises at a commercially reasonable cost. Tenant, however, shall have the right to furnish and/or install
any or all of the items mentioned in this subparagraph (l).

 

    4

     

    

 

EXHIBIT H

 

INTENTIONALLY DELETED

 

    

     

    

 

EXHIBIT I

 

INCLUDED FF&E

 

[INTENTIONALLY OMITTED]

 

    

     

    

 

EXHIBIT J

 

RESERVED SPACES

 

[INTENTIONALLY OMITTED]

 

    

     

    

 

EXHIBIT K

 

CONTRACTOR SAMPLE COI

 

[INTENTIONALLY OMITTED]

 

    

     

    

 

EXHIBIT L

 

HVAC SPECIFICATIONS

 

Glycol System utilizing MERV 13 filters circulated
through summer and warmer months, depending on outside air temperature but typically March to September

 

Indoor Summer Conditions: Thermostats set to 74-degrees
with 2-degree adjustments

 

Indoor Winter Conditions: Thermostats set to 72-degrees
with 2-degree adjustmentsExhibit
10.61

 

ASSET
PURCHASE AGREEMENT

 

This
Asset Purchase Agreement (this “Agreement”) is entered into as of February 3, 2022, by and among COASTAL PRIDE SEAFOOD,
LLC, a Florida limited liability company (the “Purchaser”), GAULT SEAFOOD, LLC, a South Carolina limited liability
company (the “Seller”) and ROBERT J. GAULT II, President of the Seller (“Gault”).

 

WHEREAS,
Blue Star Foods Corp., a Delaware corporation and the indirect parent of the Purchaser (“Blue Star”), and the Seller
entered into a Term Sheet (the “Term Sheet”) pursuant to which the Seller will sell certain of its assets to the Purchaser;
and

 

WHEREAS,
upon the terms and subject to the conditions set forth in this Agreement, the Purchaser shall acquire from the Seller, and the Seller
and Gault shall sell to the Purchaser, all of the Seller’s and Gault’s assets used in connection with the softshell crab
operations currently conducted by the Seller and Gault (the “Business”).

 

NOW,
THEREFORE, in consideration of the foregoing and of the mutual promises, covenants, representations, warranties, and agreements contained
herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, intending to be legally
bound, the parties agree as follows:

 

I.
CERTAIN DEFINITIONS.

 

1.1
Defined Terms. As used in this Agreement, the following terms shall have the meanings specified or referred to below:

 

“Affiliate”
of any Person shall mean any Person which, directly or indirectly, controls or is controlled by that Person, or is under common control
with that Person. For the purposes of this definition, “control” (including, with correlative meaning, the terms “controlled
by” and “under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly,
of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting
securities or by contract or otherwise.

 

“Assets”
shall have the meaning set forth in Section 2.1.

 

“Assigned
Contracts” shall mean, to the extent identified on Schedule 2.1(v), all Contracts relating to the Business to which
the Seller or an Affiliate is a party or to which the Business is subject, including, without limitation, all purchase orders, orders
or requests for information to be rendered that are yet to be performed, fulfilled or completed and, in each case, any claim or right
or any benefit thereunder or resulting therefrom including, without limitation, any right to indemnification.

 

“Business
Day” shall mean any day that is not a Saturday or a Sunday or a day on which banks located in Florida are authorized or required
to be closed.

 

    	- 1 -

     

    

 

“Cash
Payment” shall mean the sum of Three Hundred Fifty-Nine Thousand Two Hundred Fifty Dollars ($359,250.00).

 

“Closing”
shall have the meaning set forth in Section 3.1.

 

“Closing
Date” shall have the meaning set forth in Section 3.1.

 

“Code”
shall mean the Internal Revenue Code of 1986, as amended. All citations to the Code or to the regulations promulgated thereunder shall
include any amendments or any substitute or successor provisions thereto.

 

“Consulting
Agreement” shall mean the Consulting Agreement dated the Closing Date by and between the Purchaser and Gault, substantially
in the form of Exhibit A attached hereto.

 

“Contemplated
Transactions” shall mean the purchase of the Assets contemplated by this Agreement and the execution, delivery and performance
of and compliance with this Agreement and all other agreements to be executed and delivered pursuant to this Agreement.

 

“Contract”
shall mean all contracts, agreements, commitments, notes, bonds, deeds of trust, indentures, leases, mortgages, arrangements, documents,
instruments, guaranties, plans, policies and arrangements, whether written or oral, of any nature or description that the Seller or the
Business is party to or obligated by.

 

“Damages”
shall have the meaning set forth in Section 9.1.

 

“Encumbrance”
shall mean any security interest, pledge, mortgage, lien, charge, encumbrance, license, easement, right-of-way, cloud on title, adverse
claim, preferential arrangement or restriction of any kind, including, but not limited to, any restriction on the use, voting, transfer,
receipt of income or other exercise of any attributes of ownership.

 

“Environmental
Law” shall mean any Law relating to the environment, including without limitation any Law pertaining to (i) treatment, storage,
disposal, generation and transportation of industrial, toxic or hazardous materials or substances or solid or hazardous waste; (ii) air,
water and noise pollution; (iii) groundwater and soil contamination; (iv) the release or threatened release into the environment of industrial,
toxic or hazardous materials or substances, or solid or hazardous waste, including without limitation emissions, discharges, injections,
spills, escapes or dumping of pollutants, contaminants or chemicals; (v) the protection of wild life, marine life and wetlands, including
without limitation all endangered and threatened species; (vi) storage tanks, vessels, containers, abandoned or discarded barrels, and
other closed receptacles; (vii) the reclamation of mines; and (viii) manufacturing, processing, using, distributing, treating, storing,
disposing, transporting or handling of materials regulated under any law as pollutants, contaminants, toxic or hazardous materials or
substances or oil or petroleum products or solid or hazardous waste. As used above, the terms “release” and “environment”
shall have the meaning set forth in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended.

 

    	- 2 -

     

    

 

“Equipment”
shall mean all the physical assets relating to the operation of the Business, including without limitation, the trucks, refrigeration
units, the tanks, pumps and related equipment.

 

“Governmental
Body” shall mean any United States federal, state or local or any foreign government, governmental, regulatory or administrative
authority, agency or commission or any court, tribunal or judicial or arbitral body or any quasi-governmental or private body exercising
any regulatory or taxing authority thereunder.

 

“Intellectual
Property” shall mean any and all: (a) all domain names and web sites, (b) patents (including but not limited to design patents),
patent registrations and patent applications (including all reissues, divisions, continuations, continuations-in-part, extensions and
reexaminations) and all improvements to the inventions disclosed in each such registration, patent or application, (c) trademarks, trademark
rights, business identifiers, service marks, trade dress, logos, trade names, brand names and corporate names (and any deviations thereof),
whether or not registered, including but not limited to all common law rights, and registrations and applications for registration thereof,
including, but not limited to, all marks registered in any trademark offices throughout the world, (d) registered and unregistered copyrights
in both published works and unpublished works (including but not limited to copyrights on designs) and registrations and applications
for registration thereof, (e) computer software, including, without limitation, source code, operating systems and specifications, data,
data bases, files, documentation and other materials related thereto, data and documentation, (f) all know-how, trade secrets and confidential
or proprietary, technical and business information (including but not limited to ideas, pricing information, client lists and other data,
formulas, compositions, inventions, and conceptions of inventions whether patentable or unpatentable and whether or not reduced to practice),
(g) whether or not confidential, technology (including know-how and show-how), production processes and techniques, research and development
information, drawings, specifications, designs, plans, proposals, technical data, copyrightable works, financial, marketing and business
data, pricing and cost information, business and marketing plans and customer and supplier lists and information, (h) all goodwill associated
therewith accruing from the dates of first use thereof, and all rights associated with the foregoing, and (i) all contracts or agreements
granting any right, title, license or privilege under the intellectual property rights of any third party.

 

“IRS”
shall mean the Internal Revenue Service.

 

“Laws”
shall mean all federal, state, local, regional, municipal or foreign laws, statutes, rules, regulations, ordinances, codes, decrees,
judgments, orders or other legal requirements.

 

“Liabilities”
shall mean any and all liabilities, duties and obligations of, and claims against or relating to, the Seller or the Business or the ownership,
possession or use of any of the Assets prior to the Closing, whether accrued, unaccrued, absolute, contingent, known or unknown, asserted
or unasserted and whether now existing or arising at any time prior to, at, or after the Closing (including, without limitation, all
liabilities of the Seller to any employee, consultant of the Seller or relating directly or indirectly to the Business, or to any Person,
in any amount whatsoever, and all liabilities of the Seller with respect to this Agreement or the Contemplated Transactions, including,
without limitation, legal and accounting fees) and any Encumbrance upon any of the Assets.

 

    	- 3 -

     

    

 

“Lock
Up Letter” shall mean the Lock Up Letter executed by the Seller substantially in the form attached hereto as Exhibit B.

 

“Party”
shall mean either of the Purchaser, the Seller or Gault.

 

“Person”
shall mean any individual, corporation, limited liability company, partnership, joint venture, trust, association, unincorporated organization,
other entity or Governmental Body.

 

“Purchaser
Indemnified Parties” shall have the meaning set forth in Section 9.1.

 

“Records
“ shall have the meaning set forth in Section 2.1(iii).

 

“SEC
Documents” means all reports, schedules, forms, statements and other documents filed by the Purchaser with the Securities and
Exchange Commission pursuant to the reporting requirements of the Securities Exchange Act of 1934, as amended.

 

“Securities
Act” shall mean the Securities Act of 1933, as amended.

 

“Seller
Approvals” shall have the meaning set forth in Section 4.5.

 

“Seller
Contracts” shall have the meaning set forth in Section 4.14(a).

 

“Seller
Financial Statements” shall have the meaning set forth in Section 4.10(a).

 

“Seller
Indemnified Parties” shall have the meaning set forth in Section 9.2.

 

“Seller
Licenses” shall have the meaning set forth in Section 2.1(ii).

 

“Shares”
shall mean the number of shares of common stock of Blue Star, which shall equal $359,250 as determined at the closing trading date immediately
preceding the Closing Date.

 

“Taxes”
shall mean all taxes, charges, fees, imposts, levies or other assessments, including, without limitation, all net income, gross receipts,
capital, sales, use, ad valorem, value added, transfer, franchise, profits, inventory, capital stock, license, withholding, payroll,
employment, social security, unemployment, excise, severance, stamp, occupation, property and estimated taxes, customs duties, fees,
assessments and charges of any kind whatsoever, together with any interest and any penalties, fines, additions to tax or additional amounts
imposed by any Governmental Body and shall include any transferee liability in respect of Taxes.

 

“Tax
Returns” shall mean any federal, state, local or foreign return, report, information return or other document (including any
related or supporting information) filed or required to be filed with any Governmental Body in connection with the determination, assessment
or collection of any Taxes or the administration of any laws, regulations or administrative requirements relating to any Taxes.

 

    	- 4 -

     

    

 

“Transaction
Documents” shall mean, collectively, this Agreement, the Consulting Agreement, the Lock Up Letter and any and all agreements,
exhibits, schedules, certificates, instruments and other documents contemplated hereby or executed and delivered in connection herewith.

 

1.2 Construction.
As used in this Agreement, the masculine, feminine or neuter gender and the singular or plural numbers shall each be deemed to
include the other whenever the context so requires. This Agreement shall be construed as a whole and in accordance with its fair
meaning and without regard to any presumption or other rule requiring construction against the Party causing this Agreement or any
part hereof to be drafted. The language used in this Agreement will be deemed to be the language chosen by the Parties to express
their mutual intent, and no rules of strict construction will be applied against any Party. The Parties acknowledge that each Party
has reviewed this Agreement and has had the opportunity to have it reviewed by legal counsel of its own choosing.

 

II.
PURCHASE AND SALE OF ASSETS.

 

2.1
Purchase and Sale of Assets. Upon the terms and subject to the conditions set forth herein, and on the basis of the representations
and warranties contained herein, at the Closing, the Seller shall sell, convey, transfer, assign and deliver to the Purchaser, and the
Purchaser shall purchase, acquire and accept from the Seller, all of Seller’s right, title and interest in and to the Assets of
the Seller relating to the Business of every kind, nature and description, personal, tangible and intangible, including without limiting
the generality of the foregoing:

 

	 	(i)	all
    of the Equipment, as identified on Schedule 2.1(i); 
	 	 	 
	 	(ii)	the
    Intellectual Property, as identified on Schedule 2.1(ii);
	 	 	 
	 	(iii)	to
    the extent transferable, all rights and incidents of interest in and to all licenses, franchises, grants, easements, exceptions,
    certificates, consents, permits, approvals, orders and other authorizations of any Governmental Body or Person relating to the Assets
    and/or the Business, all of which have been identified on Schedule 2.1(iii) (the “Seller Licenses”);
	 	 	 
	 	(iv)	all
    documents and records relating to the Assets (including without limitation, all employment and personnel records, technical design
    and know-how, sales data, customer lists, and all other information relating to products, customers, representatives, distributors
    and suppliers and other information including advertising materials) and copies of all accounting books, records, ledgers and electronic
    data processing materials (collectively, the “Records”);

 

    	- 5 -

     

    

 

	 	(iv)	all
    claims of the Seller against third parties relating to the Business or the Assets, whether choate or inchoate, known or unknown,
    contingent or otherwise, all as identified on Schedule 2.1(iv);
	 	 	 
	 	(v)	all
    Assigned Contracts, all of which have been identified on Schedule 2.1(v);
	 	 	 
	 	(vi)	all
    transferable prepayments, contractual deposits and other funds to be received for services to be performed after the Closing, all
    of which have been identified Schedule 2.1(vi); and
	 	 	 
	 	(vii)	all
    other properties and assets of every and, character or description, tangible or intangible owned by the Seller and used or held for
    use in connection with the Business, all as identified on Schedule 2.1(vii).

 

The
assets, properties and rights to be conveyed, sold, transferred, assigned and delivered to Purchaser pursuant to this Agreement are sometimes
hereinafter collectively referred to as the “Assets”.

 

2.2
Liabilities.

 

(a)
The Purchaser shall not assume or otherwise be bound by or responsible or be liable for any Liability incurred directly or indirectly
by Gault, the Seller or the Business or any Liability arising out of a breach, violation or default by the Seller or Gault of or under
any Law or Contract (including any event occurring or fact or circumstance existing as of or prior to the Closing Date that, with the
passage of time or the giving of notice or both, may become such a breach, violation or default).

 

(b)
The Seller covenants and agrees that, prior to or simultaneously with the Closing, all Liabilities shall be paid, discharged and performed
in full and upon the reasonable request of the Purchaser, the Seller shall obtain from the Persons to whom such Liabilities are owed,
unconditional releases, in form and substance reasonably satisfactory to the Purchaser and its counsel, of the Purchaser and the Assets
from all responsibilities, liabilities and claims with respect to such Liabilities.

 

2.3
Transfer of Assets. The transfer of the Assets as herein contemplated shall be made by Gault and the Seller, as the case may be,
free and clear of all Encumbrances of any kind or nature and shall be effected by such bills of sale, endorsements, assignments, drafts,
checks, deeds and other instruments of transfer, conveyance and assignment as shall be necessary or appropriate to transfer, convey and
assign the Assets to the Purchaser on the Closing Date as contemplated by this Agreement and as shall be requested by the Purchaser.
The Seller shall, at any time and from time to time after the Closing Date, execute and deliver such other instruments of transfer and
conveyance and do all such further acts and things as may be requested by the Purchaser to transfer, convey, assign, and deliver to the
Purchaser or to aid and assist the Purchaser in collecting and reducing to possession any and all of the Assets, or to vest in the Purchaser
good, valid and legal and beneficial title to the Assets which had been owned by the Seller prior to the Closing.

 

    	- 6 -

     

    

 

2.4
Purchase Price. The purchase price for the Assets (the “Purchase Price”) shall be Seven Hundred Eighteen Thousand
Five Hundred Dollars ($718,500), consisting of the Cash Payment and the Shares.

 

2.5
Allocation of Purchase Price. The Purchaser and the Seller hereby agree that the Purchase Price paid by the Purchaser in connection
with the sale and purchase of the Assets shall be allocated by the Purchaser and the Seller as set forth on Schedule 2.5 hereof.
Such agreed allocation will be intended to comply with Section 1060 of the Code, and the Parties hereby agree to report the transactions
contemplated by this Agreement for federal income tax purposes in accordance with such allocation.

 

2.6
Clearance Certificates. To the extent required by Law and as requested by the Purchaser as determined pursuant to its due diligence
investigation, to relieve the Purchaser of any liability for unpaid sales or similar Taxes of the Seller attributable to periods prior
to the Closing Date, the Seller shall, prior to the Closing Date, take all necessary action in order to obtain clearance certificates
or similar documents from any applicable Tax authority and deliver such certificates and similar documentation to the Purchaser at Closing.

 

2.7
Transfer Taxes. All municipal, county, state and federal sales and transfer Taxes incurred, if any, in connection with the transactions
contemplated by this Agreement shall be the responsibility of, and paid promptly by, the Seller. Each Party, as appropriate, shall in
a timely manner sign and swear to any return, certificate, questionnaire or affidavit as to any matter within its knowledge required
in connection with the payment of any such Tax.

 

III.
THE CLOSING.

 

3.1
Closing Date. The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place
at the offices of the Purchaser, within five (5) Business Days after the date on which the conditions set forth in this Agreement shall
be satisfied or duly waived, or such other place and date as the Purchaser and the Seller may agree in writing (such date and time of
the Closing is referred to herein as the “Closing Date”).

 

3.2
Deliveries by the Purchaser at the Closing. At the Closing, the Purchaser shall deliver to the Seller the following:

 

(a)
the Cash Payment;

 

(b)
the Shares, or evidence that the transfer agent for the Purchaser has been delivered irrevocable instructions to issue and deliver the
Shares to the Seller;

 

(c)
the Consulting Agreement, duly executed by the Purchaser;

 

(d)
the certificates described in Sections 8.1 and 8.7; and

 

(f)
the good standing certificate described in Section 8.6.

 

    	- 7 -

     

    

 

3.3
Deliveries by the Seller at the Closing. At the Closing, the Seller shall deliver to the Purchaser the following:

 

(a)
executed and acknowledged (if appropriate) assignments, bills of sale and/or certificates of title, dated the Closing Date, transferring
to the Purchaser all of the Assets free and clear of all Encumbrances, each satisfactory to the Purchaser in form and substance;

 

(b)
if applicable, payoff letters, UCC-3 termination statements and other documentation relating to the release of all Encumbrances on the
Assets, including without limitation those referred to in Section 2.2;

 

(c)
the Seller Approvals, as identified on Schedule 3.3(c);

 

(d)
certificate described in Section 7.1;

 

(e)
the good standing certificate described in Section 7.5;

 

(f)
the Consulting Agreement, executed by Gault;

 

(g)
the Lock Up Agreement, executed by the Seller;

 

(h)
originals of the Records;

 

(i)
all the Schedules to this Agreement and the information contained therein, which, notwithstanding anything contained herein to the contrary,
shall be delivered no later than ten Business Days prior to the Closing Date;

 

(j)
third party consents, in form and substance reasonably satisfactory to the Purchaser, to the Assigned Contracts to the extent required
for assignment by the terms of such Assigned Contracts; and

 

(k)
such other instruments and certificates as may be requested by the Purchaser.

 

3.4
Power of Attorney. Effective upon the Closing Date, the Seller hereby irrevocably constitutes and appoints the Purchaser, its
successors and assigns, the true and lawful attorney of the Seller with full power of substitution, in the name of the Purchaser, or
the name of the Seller, on behalf of and for the benefit of the Purchaser, to collect all items being transferred, conveyed and assigned
to the Purchaser as provided herein, to endorse, without recourse, checks, notes and other instruments in the name of the Seller which
have been transferred to the Purchaser, to institute and prosecute, in the name of the Seller or otherwise, all proceedings which the
Purchaser may deem proper in order to collect, assert or enforce any claim, right or title of any kind in or to the Assets, to defend
and compromise any and all actions, suits or proceedings in respect of any of the Assets subject to the Seller’s indemnification
obligations under this Agreement, and to do all such acts and things in relation thereto as the Purchaser may deem reasonably advisable.
The Seller agrees that the foregoing powers are coupled with an interest and shall be irrevocable by the Seller directly or indirectly
by the dissolution of the Seller or in any manner or for any reason. The Seller further agrees that the Purchaser shall retain for its
own account any amounts collected pursuant to the foregoing powers, and the Seller shall promptly transfer and deliver to the Purchaser
any cash or other property received by the Seller after the Closing Date relating to the Assets.

 

    	- 8 -

     

    

 

3.5
Operations. From and after the Closing Date, the Assets and Business will continue to operate at 154 Alston Road, Beaufort, South
Carolina 29907, until the earlier of (i) one year and (ii) the completion of a new facility at such location to be decided upon by the
Purchaser in its sole discretion, at which time the Assets, including the Equipment set forth on Schedule 2.1(i) will be moved to such
new facility.

 

IV.
REPRESENTATIONS AND WARRANTIES OF THE SELLER. The Seller and Gault jointly and severally hereby represents and warrant to the
Purchaser as follows:

 

4.1
Organization and Good Standing. The Business is operated as a limited liability company duly organized, validly existing and in
good standing under the laws of the State of South Carolina. The Seller and the Business has all requisite power to own, operate and
lease the Assets and carry on its business as the same is now being conducted. Complete and correct copies of the Certificate of Formation
and Operating Agreement of the Seller, as currently in effect, have been delivered to the Purchaser.

 

4.2
Ownership of the Business. The Business is owned solely and exclusively by the Seller, and no Person has any ownership rights
to the Business other than the Seller. There are, and at the Closing there will be, no outstanding subscriptions, options, rights, warrants,
convertible securities, preemptive rights or other agreements, or understandings with respect to the voting, sale, transfer, rights of
first refusal, rights of first offer, proxy or registration or calls, demands or commitments of any kind relating to the issuance, sale
or transfer of any capital stock or other equity securities of the Seller, whether directly or upon the exercise or conversion of other
securities. The Business does not and has never maintained any stock, partnership, joint venture or any other security or ownership interest
in any other Person.

 

4.3
Authority Relative to Agreement. The Seller has all requisite power and authority, corporate or otherwise, to execute, deliver
and perform its obligations under this Agreement and has taken all action, corporate or otherwise, necessary in order to execute and
deliver this Agreement, the Transaction Documents and all other instruments or agreements to be executed in connection herewith and to
consummate the Contemplated Transactions. This Agreement has been duly executed and delivered by the Seller and Gault. This Agreement
constitutes the valid and binding obligation of the Seller and Gault.

 

4.4
Absence of Conflict. Neither the execution and delivery of the Transaction Documents by the Seller and Gault nor the consummation
of the Contemplated Transactions by the Seller and Gault will (a) violate, conflict with, result in a breach or termination of, constitute
a default under or give rise to a right to terminate, amend, cancel or accelerate (or an event which, with notice or lapse of time or
both, would constitute the same) (i) any Contract to which the Seller or Gault is a party or by which any of the Assets or Business is
bound or (ii) any Law, order of a Governmental Body or any other restriction of any kind or character applicable to Gault or the Seller
or any of its properties or assets, or (b) result in the creation or imposition of any Encumbrance upon any Asset or any other property
or asset of the Seller.

 

    	- 9 -

     

    

 

4.5
Consents and Approvals. No consent, waiver, registration, certificate, approval, grant, franchise, concession, permit, license,
exception or authorization of, or declaration or filing with, or notice or report to, (a) any Governmental Body or (b) any other Person
(including, but not limited to, any party to a Contract of the Seller (collectively, the “Seller Approvals”), is required
in connection with the execution, delivery and performance of the Transaction Documents by the Seller, other than approvals which have
already been obtained or will have been obtained prior to the Closing. The names of the Seller Approvals are indicated on Schedule
3.3(b) attached hereto.

 

4.6
Liabilities. Neither the Seller nor Gault has any debts, liabilities or obligations of any nature (whether absolute, accrued,
contingent or otherwise) in connection with the Assets, the Assigned Contracts or the Business.

 

4.7
Litigation. There is no action, suit, hearing, inquiry, review, proceeding or investigation by or before any court or Governmental
Body pending, or threatened against or involving the Seller, Gault or the Business or with respect to the activities of any employee
or agent of the Business. The Seller has not received any notice of any event or occurrence which could result in any such action, suit,
hearing, inquiry, review, proceeding or investigation.

 

4.8
Tax Matters.

 

(a)
Except as set forth on Schedule 4.8(a), the Seller has filed or caused to be filed on a timely basis all Tax Returns that are
or were required to be filed, pursuant to the Laws or administrative requirements of each Governmental Body with taxing power over it,
the Business and/or the Assets. As of the time of filing, all such Tax Returns correctly reflected the facts regarding the income, business,
assets, operations, activities, status, and other matters of the Seller and any other information required to be shown thereon. An extension
of time within which to file any such Tax Return that has not been filed has not been requested or granted. The Seller has delivered
to the Purchaser true, complete and correct copies of all Tax Returns filed by them for the last three years. Schedule 4.8(a)
lists all state, local and foreign jurisdictions in which the Seller has previously filed or currently file Tax Returns, which are all
of the state, local or foreign taxing jurisdictions in which the Seller has been or are required to file Tax Returns. There is no audit,
action, suit, claim, proceeding or any investigation or inquiry, whether formal or informal, public or private, now pending or threatened
against or with respect to the Seller in respect of any Tax. There are no Encumbrances for Taxes upon any of the assets of the Seller
or the Business.

 

(b)
With respect to all amounts in respect of Taxes imposed on the Seller for which they are or could be reasonably liable, whether to Governmental
Bodies (as, for example, under Law) or to other Persons (as, for example, under tax allocation agreements), with respect to all taxable
periods or portions of periods since their inception through the Closing, (i) all applicable tax laws and agreements have been complied
with in all respects, and (ii) all such amounts required to be paid by the Seller to Governmental Bodies or others on or before the date
hereof have been paid.

 

    	- 10 -

     

    

 

(c)
As of the date hereof, the Seller has not requested, executed or filed with the IRS or any other Governmental Body any agreement or other
document extending or having the effect of extending the period for assessment or collection of any Taxes for which the Seller or the
Business could be liable and which still is in effect.

 

(d)
There exists no tax assessment, proposed or otherwise, against the Seller or the Assets nor any lien for Taxes against any assets or
property of the Seller or the Business.

 

(e)
All Taxes that the Seller or the Business are or were required by Law to withhold or collect have been duly withheld or collected and,
to the extent required, have been paid to the proper Governmental Body or other Person.

 

(f)
Neither the Seller nor the Business is a party to, bound by or subject to any obligation under any tax sharing, tax indemnity, tax allocation
or similar agreement.

 

(g)
There is no claim, audit, action, suit, proceeding, or investigation with respect to Taxes due or claimed to be due from the Seller or
the Business or of any Tax Return filed or required to be filed by the Seller or the Business pending or threatened against or with respect
to the Seller or the Business.

 

(h)
Neither the Seller nor the Business have filed a consent pursuant to Section 341(f) of the Code (or any corresponding provision of state,
local or foreign income tax law) or agreed to have Section 341(f)(2) of the Code (or any corresponding provision of state, local or foreign
income tax law) apply to any disposition of a subsection (f) asset (as such term is defined in Section 341(f)(4) of the Code) owned by
the Seller or the Business.

 

4.9
No Brokers or Finders. The Seller has not, nor have any of its Affiliates, officers, directors or employees on their behalf, employed
any broker or finder or incurred any liability for any brokerage or finder’s fee or commissions or similar payment in connection
with any of the Contemplated Transactions, and no Person has or will have any right, interest or valid claim against or upon the Purchaser
or its Affiliates for any such fee or commission.

 

4.10
Financial Statements.

 

(a)
The financial statements/tax returns of the Seller and/or the Business as of and for the years ended December 31, 2020, December 31,
2019 and December 31, 2018 and for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 (collectively, the “Seller
Financial Statements”), were compiled on the cash basis of accounting, upon which basis the Company files its federal income
tax return; in accordance with Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.

 

(b)
Since December 31, 2020, there has been no material adverse change in the business, operations or financial condition of the Seller or
the Business or any event, condition or contingency that could reasonably be expected to result in such a material adverse effect with
respect to the Seller or the Business.

 

    	- 11 -

     

    

 

4.11
Compliance with Law. The operations of the Seller and the Business have been conducted in all material respects in accordance
with all applicable Laws. The Seller has not have received any notification of any asserted present or past failure to comply with any
such Laws, and the Seller is in compliance in all material respects with all limitations, restrictions, conditions, standards, prohibitions,
requirements, obligations, schedules and timetables contained in any such Laws. The Seller Licenses constitute all licenses, permits,
orders, certificates, authorizations or other approvals of Governmental Bodies required for the conduct of the Business under applicable
Laws. The Seller is not in violation of any such Seller License. All such Seller Licenses are in full force and effect and no suspension
or cancellation thereof has been threatened.

 

4.12
Title to Property; Sufficiency; Encumbrances.

 

(a)
Except as disclosed on Schedule 4.12, the Seller leases or owns all the properties and assets used by it in the conduct of the
Business, and with respect to contract rights, is a party to and enjoys the right to the benefits of all Contracts used in or relating
to the conduct of its business. The Seller has good and marketable title to, or, in the case of leased assets, valid and subsisting leasehold
interests in, all of the Assets, free and clear of all Encumbrances.

 

(b)
Following the consummation of the Contemplated Transactions, the Purchaser will own, pursuant to good and marketable title, or lease,
under valid and subsisting leases, or otherwise retain its respective interest in, the Assets without incurring any penalty or other
adverse consequence, including, without limitation, any increase in rentals, royalties, or licenses or other fees imposed as a result
of, or arising from, the consummation of the Contemplated Transactions.

 

4.13
Intellectual Property Rights. The Seller owns or is licensed or otherwise has the rights to use, all Intellectual Property used
in the conduct of its business as presently conducted. The Seller agrees and acknowledges that the Intellectual Property shall never
be disclosed, directly or indirectly, to any Person without the prior written consent of the Purchaser.

 

4.14
Material Contracts.

 

(a)
Schedule 4.14 contains a true, complete and accurate list of all Contracts, whether written or oral, to which the Seller or the
Business is a party or by which any of the Seller’s assets are bound (each, a “Seller Contract”). The Seller
has no obligations under, and is not a party to, any consulting or other Contract with independent agents, sales representatives or other
Persons which are not Assigned Contracts nor does the Seller derive any revenue from any Contract which is not an Assigned Contract.
The Seller is not a party to any Assigned Contract as to which the Seller has been advised that the Assigned Contract will be terminated
or that by its terms is subject to renegotiation. Neither the Seller nor the Business is obligated under any loan agreement, promissory
note or other evidence of indebtedness as a signatory, guarantor or otherwise and has not otherwise guaranteed the performance by any
Person of the obligations of such Person under any Contract.

 

    	- 12 -

     

    

 

(b)
Except as set forth on Schedule 3.3(b), no consent of any party to any Seller Contract is required in connection with the execution,
delivery and performance of this Agreement or the consummation of the Contemplated Transactions.

 

(c)
Neither the Seller nor the Business is in default under any Assigned Contract, nor has any event occurred, which through the passage
of time or the giving of notice, or both, would constitute a default by the Seller or the Business, would cause the acceleration of any
of the Seller’s or the Business’s obligations thereunder, would result in the creation of any Encumbrance or restriction
on any of the Assets or the Business. No third party is in default under any lease or contract to which the Seller is a party, nor has
any event occurred that, through the passage of time or the giving of notice, or both, would constitute a default thereunder.

 

(d)
Except as set forth on Schedule 4.14, neither the Seller nor the Business is a party to or bound by any Contract which (i) limits
the Seller or the Business from competing in any line of business or with any Person or in any geographic area or during any time period
or (ii) grants any Person any preferential right to purchase from the Seller or the Business, any properties or assets of the Seller
or the Business.

 

4.15
Affiliated Transactions. Except as set forth on Schedule 4.15, no Affiliate or other family member (i) has borrowed or
has been advanced funds from or loaned funds to the Business, (ii) is a party to a Contract with the Seller or (iii) has engaged in any
transaction with the Seller relating to the Business.

 

4.16
Ordinary Course. The business has been conducted only in the ordinary and usual course of business consistent with past practice.
Without limiting the generality of the foregoing, the Seller has not since December 31, 2020: (i) suffered any adverse change in its
financial condition, the Business or operations or in the Assets; or (ii) sold, transferred, or otherwise disposed of any material portion
of its properties or Assets.

 

4.17
Employee Matters. Neither the Seller nor the Business is (a) a party to any union, collective bargaining or similar agreement;
(b) providing or obligated to provide any profit sharing, deferred compensation, bonus, savings, stock option, stock purchase, pension,
consulting, retirement, welfare or other incentive plan or agreement; (c) providing or obligated to provide “fringe benefits”
or any employee perquisites to employees, including, without limitation, vacation, sick leave, medical, hospitalization, insurance and
related benefits; or (d) a party to any employment or consulting agreement not terminable upon notice without penalty. No present or
former employee of the Seller or the Business has any claim on account of or for bonuses, vacation, time off earned or otherwise. On
or before the Closing Date all accrued wages, salary, bonus, commissions, vacation and sick pay and Taxes relating thereto shall be paid
by Seller to the members, managers, officers, directors, and employees of Seller and the Business.

 

    	- 13 -

     

    

 

4.18
Records. The Records are the true books and records of the business of the Company and truly and accurately reflect the underlying
facts and transactions. The Records and the Intellectual Property contain all the documentation required to operate the business after
the Closing Date as presently operated and no other records or documents exist which are necessary to operate the Business.

 

4.19
Environmental Matters.

 

(a)
Except as described in (d) below, the Seller has complied with all applicable Environmental Laws. There is no pending or threatened civil
or criminal litigation, written notice of violation, formal administrative proceeding, or investigation, inquiry or information request
by any Governmental Body, relating to any Environmental Law involving the Seller or the Business.

 

(b)
There are no documents that contain any environmental reports, investigations or audits relating to premises currently or previously
owned or operated by the Seller or the Business (whether conducted by or on behalf of the Seller or a third party, and whether done at
the initiative of the Seller or directed by a Governmental Body or other third party) which were issued or conducted during the past
five years and which the Seller has possession of.

 

(c)
The Seller has not been notified that there is any material environmental liability with respect to any solid or hazardous waste transporter
or treatment, storage or disposal facility that has been used by the Business

 

(d)
The Seller discloses that it has not held and does not hold any permit or license for the discharge of water, from its facilities. The
Seller does not know, and makes no representation, regarding the need for any such permit or license, and/or whether the Purchaser will
now need any such permit or license.

 

4.20
Customers. Schedule 4.20 sets forth a list of each customer that accounted for more than 5% of the revenues of the Business
during the last full fiscal year and the amount of revenues accounted for by such customer during such period, as well as each customer
and supplier of the Business for the last five full fiscal years, including the amount each such Person was invoiced and their respective
contact information. As of the Closing Date, the Seller has not received notice from any customer that such customer may materially reduce
the amount of business done with the Seller below the level of business done with the Seller in the last twelve months.

 

4.21
Securities Laws Representations.

 

(a)
The Seller is acquiring the Shares for its own account with the present intention of holding such Shares for purposes of investment and
the Seller is not acquiring the Shares with a view to or for distribution thereof, within the meaning of the Securities Act. Seller is
acquiring the Shares for its own account as principal, not as a nominee or agent, for investment purposes only, and not with a view to,
or for, resale, distribution or fractionalization thereof in whole or in part, and no other Person has a direct or indirect beneficial
interest in the restricted Shares the Seller is acquiring herein. Further, the Seller does not have any Contract with any Person to sell,
transfer or grant participations to such person or to any third person, with respect to the Shares the Seller is acquiring.

 

    	- 14 -

     

    

 

(b)
At no time was the Seller presented with or solicited by any newspaper or magazine article, radio or television advertisement, or any
other form of general advertising or solicited or invited to attend a promotional meeting otherwise than in connection and concurrently
with such communicated offer.

 

(c)
The Seller acknowledges and understands that the Shares have not been registered under the Securities Act or qualified under the securities
or “blue sky” laws of any state in reliance upon exemptions from registration or qualification thereunder and the Shares
may not be sold, offered, transferred, assigned, pledged, hypothecated or otherwise disposed of or encumbered, except in compliance with
the Securities Act and such rules and regulations.

 

(d)
The Seller has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks
of an investment in the Shares.

 

(e)
The Seller has received and reviewed the SEC Documents and all information regarding Blue Star, the Purchaser and the Shares and has,
to the extent it has deemed necessary or advisable, reviewed the aforementioned information and this Agreement with its investment, tax,
accounting and legal advisors. Seller and such advisors have been given a reasonable opportunity to ask questions of and to receive answers
from Purchaser concerning Blue Star and the acquisition of the Shares and have received or been given access to such information and
documents as Seller believes, in the context of the information provided by Purchaser, are necessary to verify the accuracy of the information
furnished to Seller concerning the Shares as Seller or such advisors have requested, it being understood and agreed that the foregoing
does not constitute a representation by Seller as to the completeness or accuracy of information provided to it by Purchaser.

 

(f)
Seller is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities Act.

 

(g)
Seller understands that the Purchaser is under no obligation to register the Shares under the Securities Act, or to assist the Seller
in complying with the Securities Act or the securities laws of any state of the United States.

 

(h)
Seller understands that an investment in the Shares is a speculative investment which involves a high degree of risk and the potential
loss of its entire investment.

 

(i)
The Shares are “restricted” (as that term is defined in Rule 144 promulgated under the Securities Act), and the certificate
representing the Shares shall be endorsed with one or more of the following restrictive legends, in addition to any other legend required
to be placed thereon by applicable federal or state securities laws:

 

“THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR
HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED OR UNLESS TRANSFERRED PURSUANT TO ANY VALID EXEMPTION FROM REGISTRATION
AVAILABLE UNDER SUCH ACT.”

 

    	- 15 -

     

    

 

4.22
Accuracy. All representations, warranties and certifications contained in this Agreement, including any schedules delivered herewith,
the Transaction Documents and all the other documents delivered in connection with this Agreement and the Contemplated Transaction delivered
directly or indirectly by the Seller are true, correct and complete, do not contain any statement which is false or misleading with respect
to a material fact and do not omit to state a material fact necessary in order to make the statements herein and therein not false or
misleading.

 

V.
REPRESENTATIONS AND WARRANTIES OF THE PURCHASER. The Purchaser hereby represents and warrants to the Seller as follows:

 

5.1
Organization and Good Standing. The Purchaser is a limited liability company duly organized, validly existing and in good standing
under the laws of the State of Florida. The Purchaser has all requisite company or other power to own, operate and lease its properties
and carry on its business as the same is now being conducted.

 

5.2
Authority Relative to Agreement. The Purchaser has all requisite power and authority, company or otherwise, to execute, deliver
and perform its obligations under the Agreement and the Transaction Documents and has taken all action, company or otherwise, necessary
in order to execute and deliver this Agreement and the Transaction Documents and all other instruments or agreements to be executed in
connection therewith and to consummate the Contemplated Transactions. This Agreement has been duly executed and delivered by the Purchaser.
The Transaction Documents constitutes the valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance
with its terms, subject to laws relating to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium, marshaling or
other laws and rules of law affecting the enforcement generally of creditors’ rights and remedies (including such as may deny giving
effect to waivers of debtors’ or guarantors’ rights).

 

5.3
Absence of Conflict. Neither the execution and delivery of the Transaction Documents by the Purchaser nor the consummation of
the Contemplated Transactions by the Purchaser will (a) violate, conflict with, result in a breach or termination of, constitute a default
under or give rise to a right to terminate, amend, cancel or accelerate (or an event which, with notice or lapse of time or both, would
constitute the same) (i) any material Contract to which the Purchaser is a party or by which any of its properties or assets is bound;
(ii) the articles of organization or operating agreement of the Purchaser or (iii) any Law, order of a Governmental Body or any other
restriction of any kind or character applicable to the Purchaser or any of its properties or assets; or (b) result in the creation or
imposition of any Encumbrance upon any properties or assets of the Purchaser except where any such violation, conflict, breach, termination,
default, amendment, cancellation, acceleration or Encumbrance would not have a material adverse effect on the Purchaser or the Contemplated
Transactions.

 

    	- 16 -

     

    

 

5.4
Consents and Approvals. No consent, waiver, registration, certificate, approval, grant, franchise, concession, permit, license,
exception or authorization of, or declaration or filing with, or notice or report to, (a) any Governmental Body and (b) any other Person
(including, but not limited to, any party to a Contract of the Purchaser), is required in connection with the execution, delivery and
performance of the Transaction Documents by the Purchaser, other than approvals which have already been obtained and except where the
failure to obtain any such approval would not have a material adverse effect on the Contemplated Transactions.

 

5.5
The Shares. The Shares are duly authorized, fully paid and non-assessable.

 

5.5
No Brokers or Finders. The Purchaser has not, nor have any of its Affiliates, officers, directors or employees on behalf of the
Purchaser, employed any broker or finder or incurred any liability for any brokerage or finder’s fee or commissions or similar
payment in connection with any of the Contemplated Transactions.

 

VI.
COVENANTS PRIOR TO CLOSING.

 

6.1
Access Prior to the Closing.

 

(a)
Between the date of this Agreement and the Closing, the Seller shall (i) give the Purchaser and its authorized representatives and agents
full and complete access to all properties, personnel, facilities and offices of the Business and to all the books and records of the
Business (and permit the Purchaser to make copies thereof), (ii) permit the Purchaser and its authorized representative and agents to
make inspections thereof, and (iii) cause the officers and employees of, and consultants to, the Seller to furnish the Purchaser with
all financial information and operating data and other information with respect to the Business and to discuss with the Purchaser and
its authorized representatives the affairs of the Business.

 

(b)
Each of the Parties shall and shall use reasonable efforts to cause their respective Affiliates, officers, directors, employees, auditors,
attorneys, consultants, advisors and agents, to treat as confidential and hold in strict confidence, unless compelled to disclose by
judicial or administrative process or, in the opinion of its counsel, by other requirements of Law, and after prior written notice to
the other Party, all confidential information, including, without limitation, this Agreement or the Contemplated Transactions or any
of the terms hereof, of the Seller or the Purchaser, as the case may be, furnished to the Purchaser by the Seller or to the Seller by
the Purchaser, as the case may be, or any of their respective representatives in connection with the Contemplated Transactions and will
not release or disclose such confidential information to any other Person, except their respective auditors, attorneys, financial advisors
and other consultants, agents and advisors in connection with the consummation of the Contemplated Transactions. If the Contemplated
Transactions do not occur (i) such confidence shall be maintained by the Parties and each Party shall use reasonable efforts to cause
its officers, directors, Affiliates and such other Persons to maintain such confidence, except to the extent such information comes into
the public domain (other than as a result of an action by such Party, its officers, directors or such other Persons in contravention
of this Agreement), and (ii) upon the request of any Party, the other Party shall promptly return to the requesting Party any written
materials remaining in its possession, which materials it has received from the requesting Party or its representatives, together with
any analyses or other written materials based upon the materials provided.

 

6.2
Publicity. The Seller shall not, and shall not permit any Affiliate to, disclose the Contemplated Transactions, issue any press
release or make any other statement or disclosure with respect to this Agreement or the Contemplated Transactions without the prior written
approval of the Purchaser. Nothing contained herein shall prevent any Party at any time from furnishing any required information to any
governmental agency or authority or from issuing any press release or making any other statement or disclosure with respect to this Agreement
and the Contemplated Transactions (after consulting with the other Parties hereto) if required by Law or any regulatory agency or to
comply with the terms of this Agreement.

 

    	- 17 -

     

    

 

6.3
Conduct of Business. Except as expressly consented to in writing by the Purchaser, between the date of this Agreement and until
the earlier of the termination of this Agreement in accordance with the terms hereof or the Closing, the Seller shall conduct its business
diligently, in good faith and only in the ordinary course of business consistent with past practice and use all its reasonable efforts
to preserve intact the Assets and Business, its present business organization and employees and to preserve the goodwill of Persons having
business relations with it. Without limiting the generality of the foregoing, the Seller shall not, directly or indirectly:

 

(a)
amend its formation documents;

 

(b)
acquire any capital stock or other equity securities of any Person or any equity or ownership interest in any business;

 

(c)
incur or guarantee any debt or liabilities of any kind or make any loans of any kind;

 

(d)
sell any Assets or effect any extraordinary transaction;

 

(e)
issue or sell, transfer, pledge or otherwise dispose of, or agree to issue, sell, pledge or otherwise dispose of, any equity in the Business
of, or any options, warrants or rights of any kind to acquire any shares of its capital stock of any class, or any debt or equity securities
convertible into or exchangeable for such capital stock;

 

(f)
enter into any Contract (written or oral) or transaction (A) not in the ordinary course of business, (B) involving consideration in excess
of $10,000.00 or (C) for the sale, acquisition or lease of any assets or business, including without limitation directly or indirectly
sell, lease, mortgage or otherwise Encumber any of its properties or assets;

 

(g)
modify the terms of, terminate or fail in any respect to comply with the terms of any Contract;

 

(h)
grant or agree to grant any employee or agent of the Seller or the Business any increase in wages or bonus, severance, profit sharing,
retirement, deferred compensation or other compensation or benefit;

 

(i)
enter into or amend any employment, consulting, severance or similar Contract;

 

(j)
fail to promptly advise the Purchaser in writing of any condition or event which may have a material adverse effect on the Seller or
the Business; or

 

(k)
agree or otherwise commit, whether in writing or otherwise, to do, or take any action or omit to take any action that would result in,
any of the foregoing.

 

    	- 18 -

     

    

 

6.4
Exclusivity. Through the earlier of the Closing or the date of termination of this Agreement pursuant to Section 11 hereof, neither
the Seller nor Gault shall, directly or indirectly, through any officer, employee, agent, representative or otherwise (and each of said
Parties shall use reasonable efforts to insure such Persons shall not directly or indirectly) (i) solicit, initiate or encourage the
submission of inquiries, proposals or offers from any Person relating to (x) any business combination with respect to the Business; or
(y) the sale of any of the Assets (an “Alternative Transaction”), (ii) enter into or participate in any negotiations,
or initiate any discussions or continue any discussions initiated by others, regarding any Alternative Transaction, or furnish to any
other Person any information with respect to the Assets or the Business for the purposes of pursuing a possible Alternative Transaction
with any other Person, or (iii) otherwise participate in, assist, facilitate or encourage any effort or attempt by any other Person to
do any of the foregoing except as required by law as fiduciaries. The Seller shall promptly notify the Purchaser of any proposal or inquiry
made to it or any of its directors, officers, employees, agents, representatives, or otherwise with respect to any of the foregoing.

 

6.5
Amending Schedules. From time to time prior to the Closing, the Parties shall promptly provide, supplement and/or amend the Schedules
hereto with respect to any matter arising after the date of this Agreement which, if existing or occurring at the date of this Agreement,
would have been required to have been set forth on the Schedules to this Agreement. Such supplement or amendment shall have the effect
of curing any related misrepresentation or breach of warranty made in connection with the transactions contemplated by this Agreement;
provided, however, that if such misrepresentation or breach is material, each party shall have a commercially reasonable
period of time following receipt of any supplemented or amended Schedules to elect (i) to terminate this Agreement without any further
liability to the Parties or (ii) in such non-amending party’s sole discretion, to waive such breach and consummate the transactions
contemplated by this Agreement.

 

6.6
Remedies. In addition to any and all other remedies available at law or equity, in the event the Seller shall breach or threaten
to breach any of the provisions of this Article 6, the Seller agree and acknowledge that damages would be difficult to ascertain, the
Purchaser and its Affiliates will suffer immediate, irreparable harm, and the Purchaser and its Affiliates shall be entitled, in addition
to any and all other remedies, to an injunction issued by a court of competent jurisdiction restraining the aforesaid violations of the
Seller, without the necessity of posting a bond. Nothing contained in this Section 6.6 is intended to limit in any way any of the rights
or remedies of any party to this Agreement in respect of any breach or threatened breach of this or any other provision of this Agreement.
The Seller acknowledges and agrees that there is no adequate remedy at law for any such breach or threatened breach and, in the event
that any action or proceeding is brought seeking injunctive relief, said Party shall not use as a defense thereto that there is an adequate
remedy at law. Furthermore, the Purchaser shall be entitled to a right of specific performance upon a breach of this Agreement by the
Seller.

 

    	- 19 -

     

    

 

VII.
CONDITIONS TO THE OBLIGATIONS OF THE PURCHASER. The obligations of the Purchaser to effect the Contemplated Transactions shall
be subject to the satisfaction at or prior to the Closing of each of the following conditions, any one or more of which may be waived
by the Purchaser:

 

7.1
Representations, Warranties and Agreements.

 

(a)
The representations and warranties of the Seller and Gault set forth in this Agreement shall be true and correct in all material respects
as of the date of this Agreement and as of the Closing with the same effect as though made as of the Closing, unless made as of another
date, in which case they shall be true and correct in all materials respects as of such date; and

 

(b)
The Seller shall have performed and complied in all material respects with the agreements contained in this Agreement required to be
performed and complied with by it prior to or as of the Closing.

 

The
Purchaser shall have received a certificate to the foregoing effect signed by the Seller.

 

7.2
No Injunction. There shall not be in effect or threatened any injunction, order or decree of a Governmental Body of competent
jurisdiction that prohibits or delays, or seeks to prohibit or delay, consummation of any material part of the Contemplated Transactions.

 

7.3
Approvals. All Seller Approvals necessary in connection with the execution, delivery and performance of this Agreement by the
Seller or for the consummation of the Contemplated Transactions shall have been obtained and delivered to the Purchaser and shall be
in full force and effect.

 

7.4
No Material Adverse Effect. No event, occurrence, fact, condition, change, development or effect shall have occurred, exist or
come to exist since the date of this Agreement that, individually or in the aggregate, has constituted or resulted in, or could reasonably
be expected to constitute or result in, a material adverse effect on the Seller’s business.

 

7.5
Secretary of State Certificate. The Purchaser shall have received a certificate of the Secretary of State of the State of South
Carolina with respect to the Seller as of a recent date, showing the Seller to be validly existing and in good standing in the State
of South Carolina.

 

7.6
Secretary’s Certificate. The Purchaser shall have received a certificate of the manager of the Seller certifying (i) a true
and complete copy of the resolutions duly and validly adopted by the members and manager of the Seller evidencing the authorization of
the execution and delivery of this Agreement, the consummation of the Contemplated Transactions, and (ii) the names and signatures of
the officers of the Seller authorized to sign this Agreement and the other documents to be delivered hereunder.

 

    	- 20 -

     

    

 

7.7
Consulting Agreement. Gault shall have executed and delivered the Consulting Agreement.

 

7.8
Listing Application. The Purchaser shall have received approval from Nasdaq with respect to the transactions contemplated by this
Agreement.

 

7.9
Proceedings Satisfactory. All certificates, opinions and other documents to be delivered by the Seller to the Purchaser other
than the matters to be accomplished by the Seller prior to or at the Closing shall be satisfactory in the judgment of the Purchaser and
its counsel.

 

VIII.
CONDITIONS TO THE OBLIGATIONS OF THE SELLER. The obligations of the Seller to effect the Contemplated Transactions shall be subject
to the satisfaction at or prior to the Closing of each of the following conditions, any one or more of which may be waived by the Seller:

 

8.1
Representations, Warranties and Agreements.

 

(a)
The representations and warranties of the Purchaser set forth in this Agreement shall be true and correct in all material respects as
of the date of this Agreement and as of the Closing with the same effect as though made as of the Closing, unless made as of another
date, in which case they shall be true and correct in all material respects as of such date; and

 

(b)
The Purchaser shall have performed and complied in all material respects with the agreements contained in this Agreement required to
be performed and complied with by them prior to or as of the Closing.

 

The
Seller shall have received a certificate to the foregoing effect signed by an authorized executive officer of the Purchaser.

 

8.2
No Injunction. There shall not be in effect or threatened any injunction, order or decree of a Governmental Body of competent
jurisdiction that prohibits or delays, or seeks to prohibit or delay, consummation of any material part of the Contemplated Transactions.

 

8.3
Approvals. All approvals necessary in connection with the execution, delivery and performance of this Agreement by the Purchaser
or for the consummation of the Contemplated Transactions shall have been obtained or made and shall be in full force and effect.

 

8.4
Proceedings Satisfactory. All certificates and other documents to be delivered by the Purchaser to the Seller and all other corporate
or organizational matters to be accomplished by the Purchaser prior to or at the Closing shall be satisfactory in the reasonable judgment
of the Seller and its counsel.

 

    	- 21 -

     

    

 

8.5
Company Approval. Prior to the Closing, this Agreement, the Contemplated Transactions shall have been duly approved by the sole
member of the Purchaser, in accordance with applicable Law.

 

8.6
Secretary of State Certificate. The Seller shall have received a certificate of the Secretary of State of the State of Florida
with respect to the Purchaser as of a recent date, showing the Purchaser to be validly existing and in good standing in the State of
Florida.

 

8.7
Secretary’s Certificate. The Seller shall have received a certificate of the Secretary of the Purchaser certifying (i) a
true and complete copy of the resolutions duly and validly adopted by the sole member of the Purchaser evidencing the authorization of
the execution and delivery of this Agreement, the consummation of the Contemplated Transactions, and (ii) the names and signatures of
the officers of the Purchaser authorized to sign this Agreement and the other documents to be delivered hereunder.

 

8.8
The Shares. The Seller shall have received a stock certificate representing the Shares, or an irrevocable letter from the Purchaser
to the transfer agent of Blue Star issuing the Shares to the Seller.

 

8.9
Consulting Agreement. The Purchaser shall have executed and delivered the Consulting Agreement.

 

8.10
Lease Agreement. The Purchaser shall have executed and delivered a lease agreement, in form and substance acceptable to both the
Purchaser and the Seller, under which the Purchaser will lease certain physical space from Jerry Gault for one (1) year, and under which
lease the Purchaser shall pay $1,000 per month plus all electricity and gas (propane) expenses.

 

IX.
INDEMNIFICATION; SURVIVAL.

 

9.1
Indemnification by the Seller and Gault. The Seller and Gault shall each, jointly and severally, indemnify and hold harmless the
Purchaser and its Affiliates, officers, directors, stockholders, employees and agents and the successors and assigns of all of them (the
“Purchaser Indemnified Parties”), and shall reimburse the Purchaser Indemnified Parties for, any loss, liability,
claim, damage, expense (including, but not limited to, costs of investigation and defense and attorneys’ fees) (collectively, “Damages”),
arising from or in connection with (a) any inaccuracy or breach of any of the representations and warranties, of the Seller in this Agreement
or in any certificate or document delivered by the Seller pursuant to this Agreement, or any actions, omissions or statements of fact
inconsistent with in any material respect any such representation or warranty, (b) any failure by the Seller to perform or comply with
any agreement, covenant or obligation in this Agreement or in any certificate or document delivered by the Seller pursuant to this Agreement
to be performed by or complied with by the Seller, (c) any claims made by a third Person against the Purchaser, the Business or the Assets
based upon a Contractual obligation of the Seller or the Business for services performed prior to the Closing Date, (d) any claims made
at any time arising out of, or in connection with, any environmental laws or environmental conditions on or relating to the Assets which
are based upon conditions existing prior to the Closing Date, (e) Taxes attributable to the ownership of the Assets prior to the Closing,
(f) Taxes attributable to the conduct by the Seller of the Business or the Seller’s operation or ownership of the Assets, (g) any
claims on account of the failure of the Seller to comply with applicable bulk sales or bulk transfer Laws, (h) any claims for severance
or any other compensation, (h) any claim made at any time by any Governmental Body in respect of the Business for all periods prior to
the Closing Date, (j) any debt, claim, liability or obligation of the Seller other than the Assumed Liabilities or (k) any litigation,
action, claim, proceeding or investigation by any third party relating to or arising out of the Business or operations of the Seller.

 

    	- 22 -

     

    

 

9.2
Indemnification by the Purchaser. The Purchaser shall indemnify and hold harmless the Seller and its Affiliates, employees, agents
and the successors and assigns of all of them (the “Seller Indemnified Parties”), and shall reimburse the Seller Indemnified
Parties for, any Damages arising from or in connection with (a) any material inaccuracy or breach of any of the representations and warranties
of the Purchaser in this Agreement or in any certificate or document delivered by the Purchaser to the Seller pursuant to this Agreement,
or (b) any failure by the Purchaser to perform or comply with, in any material respect, any agreement, covenant or obligation in this
Agreement or in any certificate or document delivered by the Purchaser pursuant to this Agreement to be performed by or complied with
by the Purchaser.

 

9.3
Survival. All representations, warranties, covenants and agreements of the Parties contained herein or in any other certificate
or document delivered pursuant hereto shall survive the Closing for eighteen months from the Closing Date, except the representations
and warranties set forth in Section 4.8 which shall survive until the expiration of the applicable statute of limitations and the confidentiality
provisions in Section 6.1(b0 which shall survive indefinitely.

 

9.4
Matters Involving Third Parties.

 

(a)
If any third party notifies any Party (the ‘‘Indemnified Party’’) with respect to any matter (a ‘‘Third-Party
Claim’’) that may give rise to a claim for indemnification against the other Party (the ‘‘Indemnifying
Party’’) under this Section 9, then the Indemnified Party shall promptly notify the Indemnifying Party thereof in writing;
provided, however, that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying
Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying Party is thereby actually and materially
prejudiced.

 

(b)
The Indemnifying Party will have the right to assume the defense of the Third-Party Claim with counsel of its choice reasonably satisfactory
to the Indemnified Party at any time within 15 days after the Indemnified Party has given notice of the Third-Party Claim; provided,
however, that the Indemnifying Party must conduct the defense of the Third-Party Claim actively and diligently thereafter in order to
preserve its rights in this regard; and provided further that the Indemnified Party may retain separate co-counsel at its sole cost and
expense and participate in the defense of the Third-Party Claim.

 

    	- 23 -

     

    

 

(c)
So long as the Indemnifying Party has assumed and is conducting the defense of the Third-Party Claim in accordance with Section 9.4(b)
above, (A) the Indemnifying Party will not consent to the entry of any judgment on or enter into any settlement with respect to the Third-Party
Claim without the prior written consent of the Indemnified Party (not to be unreasonably withheld) unless the judgment or proposed settlement
involves only the payment of money damages by the Indemnifying Party and does not impose an injunction or other equitable relief upon
the Indemnified Party and (B) the Indemnified Party will not consent to the entry of any judgment on or enter into any settlement with
respect to the Third-Party Claim without the prior written consent of the Indemnifying Party (not to be unreasonably withheld).

 

(d)
In the event the Indemnifying Party does not assume and conduct the defense of the Third-Party Claim in accordance with Section 9.4(b)
above, however, (A) the Indemnified Party may defend against, and consent to the entry of any judgment on or enter into any settlement
with respect to, the Third-Party Claim in any manner it reasonably may deem appropriate (and the Indemnified Party need not consult with,
or obtain any consent from, the Indemnifying Party in connection therewith) and (B) the Indemnifying Party will remain responsible for
any liabilities the Indemnified Party may suffer resulting from, arising out of, relating to, in the nature of, or caused by the Third-Party
Claim to the fullest extent provided in this Article IX.

 

X.
TERMINATION.

 

10.1
Termination Procedures. This Agreement may be terminated as follows:

 

(a)
by mutual written agreement of all of the Parties at any time;

 

(b)
by the Purchaser, by notice to the Seller, if the Seller has breached this Agreement in any material respect and such breach is not cured
within ten (10) days after written notice from the Purchaser to the Seller; or

 

(c)
by the Seller, by notice to the Purchaser, if the Purchaser has breached this Agreement in any material respect and such breach is not
cured within ten (10) days after written notice from the Seller to the Purchaser.

 

10.2
Effect of Termination. In the event that this Agreement is terminated, this Agreement shall terminate without any liability or
further obligation of any Party to another, except for the obligations of the Parties under Sections 6.1(b) and 6.2, and none of the
Parties shall be released from liability for any intentional misrepresentation or fraud.

 

10.3
Expenses. The Parties shall each bear their own respective expenses incurred in connection with this Agreement and the Contemplated
Transactions.

 

    	- 24 -

     

    

 

XI.
MISCELLANEOUS.

 

11.1
Entire Agreement. This Agreement contains, and is intended as, a complete and exclusive statement of all of the terms and the
arrangements between the Parties with respect to the matters provided for, supersedes any previous agreements and understandings between
the Parties with respect to those matters and cannot be changed or terminated orally, including without limitation, the Term Sheet.

 

11.2
Severability. Any provision of this Agreement prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting
the validity or enforceability of such provision in any other jurisdiction.

 

11.3
Governing Law. This Agreement shall be governed by and construed in accordance with the law of the State of South Carolina applicable
to agreements made and to be performed therein without giving effect to conflicts of law principles. Each of the Parties agree to submit
to the jurisdiction of the federal or state courts located in the City of Beaufort, South Carolina in any actions or proceedings arising
out of or relating to this Agreement. Each of the Parties, by execution and delivery of this Agreement, expressly and irrevocably (i)
consents and submits to the personal jurisdiction of any of such courts in any such action or proceeding; (ii) consents to the service
of any complaint, summons, notice or other process relating to any such action or proceeding by delivery thereof to such party as set
forth in Section 11.6 below and (iii) waives any claim or defense in any such action or proceeding based on any alleged lack of personal
jurisdiction, improper venue or forum non conveniens or any similar basis. EACH OF THE UNDERSIGNED HEREBY WAIVES FOR ITSELF AND ITS PERMITTED
SUCCESSORS AND ASSIGNS THE RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING INSTITUTED IN CONNECTION WITH THIS AGREEMENT.

 

11.4
Further Assurances. In case at any time after the Closing, any further action or the execution and delivery of any additional
documents or instruments shall be necessary or desirable to carry out the purposes of this Agreement and render effective the consummation
of the Contemplated Transactions, the Parties shall take such actions and execute such additional documents and instruments as may be
reasonably requested by any other Party.

 

11.5
Headings. The section headings contained in this Agreement are solely for the purpose of reference, are not part of the Agreement
of the Parties and shall not in any way affect the meaning or interpretation of this Agreement. All references in this Agreement to Sections,
Schedules and Exhibits are to sections, schedules and exhibits to this Agreement, unless otherwise indicated.

 

    	- 25 -

     

    

 

11.6
Notices. All notices, requests, claims, demands and other communications given or made pursuant hereto shall be in writing and
shall be deemed to have been duly given if delivered in person against written receipt, by facsimile transmission, email, overnight courier
prepaid, or mailed by prepaid first class registered or certified mail, postage prepaid, return receipt requested to the respective parties
at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section):

 

	 	If
    to the Purchaser, to:
	 	 
	 	Coastal
    Pride Seafood, LLC
	 	%
    Blue Star Foods Corp.
	 	3000
    NW 109th Avenue  
	 	Miami,
    Florida 33172
	 	Attn:
    John Keeler
	 	 
	 	Copy
    to:
	 	 
	 	The
    Crone Law Group, P.C.
	 	500
    Fifth Avenue, Suite 938
	 	New
    York, New York 10110
	 	Attn:
    Nancy Brenner, Esq.
	 	 
	 	If
    to the Seller, to:
	 	 
	 	Gault
    Seafood, LLC
	 	154
    Alston Rd
	 	Beaufort,
    SC 29907
	 	Attn:
    Robert J. Gault
	 	Email:
	 	Facsimile
    No.:
	 	 
	 	with
    a copy to:
	 	 
	 	Ruff
    & Ruff, LLC
	 	H17
    Professional Village Cir.
	 	Beaufort,
    SC 29907
	 	Attn:
    Harley Ruff, Esq.

 

All
such notices, requests and other communications will (i) if delivered personally to the address as provided in this Section, be deemed
given upon delivery, (ii) if delivered by facsimile transmission to the facsimile number as provided in this Section, be deemed given
upon receipt, (iii) if delivered by email, to the email address as provided in this Section, be deemed given upon sending such email,
(iv) if delivered by overnight courier to the address as provided in this Section, be deemed given on the earlier of the first business
day following the date sent by such overnight courier or upon receipt, or (v) if delivered by mail in the manner described above to the
address provided in this Section, be deemed given on the earlier of the third business day following mailing or upon receipt. In order
for any such notice to be deemed given as provided above, other than if sent by email, any such notice must also be accompanied by an
email to the recipient. In order for any such notice to be deemed given that is sent by email as provided above, any such notice must
also be accompanied by sending such notice in the mail.

 

11.7
Binding Effect; Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective
successors and permitted assigns and heirs and representatives. Except as specifically set forth herein, nothing in this Agreement shall
create or be deemed to create any third party beneficiary rights in any Person who is not a Party. The Seller shall not assign this Agreement
in whole or in part or of any of his rights or obligations hereunder without the prior written consent of the Purchaser.

 

11.8
Counterparts. This Agreement may be executed in any number of counterparts and by facsimile or other electronic means, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

11.9
Amendment and Waiver. This Agreement may be amended, or any provision of this Agreement may be waived, provided that such amendment
or waiver will be signed by all the Parties. The waiver of any Party of a breach of any provision of this Agreement shall not operate
or be construed as a waiver of any other breach.

 

[Remainder
of page intentionally left blank; Signature page to follow]

 

    	- 26 -

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Asset Purchase Agreement as of the date first above written.

 

	 	COASTAL
    PRIDE SEAFOOD, LLC
	 	 	 
	 	By:	/s/
    Walter F. Lubkin III
	 	Name: 	Walter
    F. Lubkin III
	 	Title:	President
	 	 	 
	 	GAULT
    SEAFOOD, LLC
	 	 	 
	 	By:	/s/
    Robert J. Gault II
	 	Name:	Robert
    J. Gault II
	 	Title:	Manager
	 	 	 
	 	/s/ Robert J. Gault II
	 	Robert J. Gault II, Individually

 

    	- 27 -

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