Document:

EX-10.27

 Exhibit 10.27 

SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE SUCH TERMS ARE BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE
COMPANY IF PUBLICLY DISCLOSED. THESE REDACTED TERMS HAVE BEEN MARKED IN THIS EXHIBIT WITH THREE ASTERISKS [***]. 
  
 

 
  

					
		 		 	 Cohen Asset Management, Inc.TM

1900 Avenue of the Stars, Third Floor

		 		 	 Los Angeles, CA 90067

			
		 		 	 P.O. Box 24710

		 		 	 Los Angeles, CA 90024
  

310.860.0598

310.860.0599 Fax

www.cohenasset.com

 March 6, 2017 
 Andy
Markham, SIOR 
 Executive Managing Director 

Cushman & Wakefield 
 2375 East Camelback Road, Suite 300

 Phoenix, AZ 85016 
 RE: Lease Proposal – DIRTT
Environmental Solutions, Inc. (“Tenant”) at 824 East University Drive 
 Dear Andy: 

On behalf of CAM Industrial Fund Acquisition LLC (“Landlord”), I have been authorized to submit this Lease Proposal
(“Proposal”) for the above referenced Building that we anticipate closing within the next 60 days. 
  

					
	 1.
	 	PREMISES:	  	 The Tenant is currently occupying +/- [***] SF (the “Premises”) at 824 East University Drive, Phoenix,
AZ

			
	 2.
	 	EXPANSION PREMISES:	  	 Immediately adjacent to the Premises comprising of +/- [***] SF of rentable area (“Expansion
Premises”)

			
	 3.
	 	LEASE TERM:	  	 119 Months

			
	 4.
	 	LEASE COMMENCEMENT DATE:	  	 May 1, 2017

			
	 5.
	 	 NEW BASE RENT (PREMISES

AND EXPANSION

PREMISES):
	  	 Months 1 – 12: $[***]/SF/MO NNN

Months 13 – 24: $[***]/SF/MO NNN

Months 25 – 36: $[***]/SF/MO NNN

Months 37 – 48: $[***]/SF/MO NNN

Months 49 – 60: $[***]/SF/MO NNN

Months 61 – 72: $[***]/SF/MO NNN

Months 73 – 84: $[***]/SF/MO NNN

Months 85 – 96: $[***]/SF/MO NNN

					
		 		  	 Months 97-108: $[***]/SF/MO NNN

Months 109-119: $[***]/SF/MO NNN

			
	 5.1.
	 	 FREE RENT:
	  	 Tenant shall be granted four (4) months of free rent inside the term in months 1, 2, 3, and 4.

			
	 6.
	 	 TIA:
	  	 The Landlord shall contribute a maximum of $100,000.00 plus any applicable sales tax, which may be used at the
Tenant’s discretion for’ any building improvements including but not limited to costs to demise the space for a subtenant (if required), asphalt slurry, new evap/HVAC equipment (any required replacement is Landlord responsibility), repairs
to HVAC equipment once lease commences and any warranty has expired, lighting upgrades, interior/exterior paint, landscaping or building signage enhancements.

			
	 7.
	 	LANDLORD’S WORK:	  	 Landlord shall ensure that all existing mechanical and electrical systems, including but not limited to lighting, all HVAC
equipment including rooftop units, loading doors and dock levelers are in good working order.

			
	 8.
	 	EXTERIOR STORAGE:	  	 The Tenant shall have exclusive use of the existing storage shed on the northeast corner of the Building at no additional
cost.

			
	 9.
	 	 PARKING:
	  	 The Tenant shall be permitted the exclusive use of all parking stalls at no additional cost.

			
	 10.
	 	 YARD AREA:
	  	 The Tenant shall have exclusive use of the yard area immediately north of the Premises and Expansion Premises at no
additional cost. The Tenant shall be permitted to use the yard area for storage as well as all parking stalls located within the yard area.

			
	 11.
	 	 TERMINATION OPTION:
	  	 Clause 2.2 (Termination Option) of the current Lease shall be deleted in its entirety.

			
	 12.
	 	 BROKERAGE FEE:
	  	 Per separate written agreement.

			
	 13.
	 	 ASSIGNMENT:
	  	 Tenant shall have the right to sublet a portion of the Premises and/or Expansion Premises.

			
	 14.
	 	 TENANT CONDITIONS:
	  	 Tenant will require ten (10) business days to:

			
		 	i.        	  	 obtain senior management and/or board approval to any formal offer to lease or lease.

			
		 	ii.        	  	 review and approve of any new lease or amendments to the current lease.

 This Lease Proposal is merely an expression of the basic terms that might be incorporated
into a binding lease amendment between Landlord and Tenant for the Premises. This Proposal is not a lease, offer, contract, option or commitment and creates no legal rights or obligations of any nature whatsoever. Both parties understand and agree
that neither party shall be bound to proceed with a contemplated lease until such time as a final written lease and other necessary written agreement(s) have been prepared by legal counsel, approved by Tenant’s and Landlord’s respective
boards of directors and executed by authorized officer(s) of each party. This Proposal shall not be construed in any way as creating any agreement which can be specifically enforced. If either party elects in its sole and absolute discretion to
discontinue further discussions at any time and for any reason, neither party shall have any rights or obligations pursuant to this letter or otherwise. 

Sincerely, 
 Brandon Delf 

CAM Industrial Fund Acquisition LLC 
 Vice President 

 
  

	
	Acknowledged on this 29 day of March 2017.
	
	DIRTT Environmental Solutions Inc.
	
	/s/ Derek Payne
	Derek Payne, CFO

 FIRST AMENDMENT TO LEASE 

THIS FIRST AMENDMENT TO LEASE (this “Amendment”) is made and entered into as of May 11, 2017, by and
between CAM Investment 352 LLC, a Delaware limited liability company (“Lessor”) and DIRTT Environmental Solutions, Inc., a Colorado corporation (“Lessee”) with reference to the following facts: 

A.        Majik Ventures, L.L.C. (“Original Lessor”) and Lessee are parties to
that certain Commercial Lease (Triple Net) dated July 1, 2015 (the “Lease”) with respect to that certain premises containing approximately [***] square feet, located at the property commonly known as 824 E. University Drive,
Phoenix, Arizona and more particularly described therein (the “Existing Premises”). 

B.        Original Lessor and Lessor (or its assignee) have entered into a purchase and sale
agreement (the “Purchase Agreement”) pursuant to which Lessor shall acquire from the Original Lessor the Project (including the Existing Premises). 

C.        Provided that Lessor acquires the Project from Original Lessor, Lessor and Lessee
desire to modify and amend the Lease to, among other things, expand the Existing Premises and extend the term of the Lease, all on the terms and conditions set forth in this Amendment. 

D.        Defined terms in this Amendment shall have the meaning ascribed to such terms in the
Lease unless otherwise expressly defined in this Amendment. Where the terms of this Amendment and the terms of the Lease conflict, the terms of this Amendment shall in all instances prevail. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties hereto,
Lessor and Lessee hereby agree as follows: 
  

	1.	 Premises. 

	 	a.	 The parties acknowledge and agree that, pursuant to the Lease, Lessor currently leases to Lessee, and Lessee currently
leases from Lessor, the Existing Premises. As of the Effective Date (as defined in Section 26 below), Lessee shall lease from Lessor and Lessor shall lease to Lessee an additional [***] square feet (the “Expansion Premises”)
directly adjacent to the Existing Premises. As of the Effective Date, all references to the “Premises” (whether in the Lease or in this Amendment) shall mean and refer to the Existing Premises as expanded by the Expansion Premises,
plus all relating parking areas and Common Areas, such that Lessee shall occupy and lease from Lessor the entire Project. The Project is more particularly described on Exhibit “A” attached hereto and made a part hereof.

  

	 	b.	 Notwithstanding anything to the contrary in the Lease, Lessee shall have exclusive use of (i) the existing
storage shed on the northeast corner of the Project and (ii) the yard area located north of the Premises, all as further indicated on Exhibit “A”. Lessee may use such areas for storage, and may utilize all parking stalls
located within the yard area as well as the designated parking spaces located on the East side of the building (outside the gated area). 

  

					
		  	 Page 1 of 20
  
	  	

	 	c.	 Except as expressly provided in the Amendment, Lessee shall accept the Expansion Premises in its currently existing “as-is” condition, and acknowledges that Lessor shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Expansion Premises. Lessee also acknowledges
that Lessor has made no representation or warranty regarding the condition of the Expansion Premises, except as expressly described below. Notwithstanding the foregoing, as soon as commercially viable after the Effective Date, Lessor shall check all
building systems, repair and/or replace as necessary, and make operational all mechanical, electrical and plumbing systems, including, but not limited to, any and all heating, cooling, ventilating and air conditioning systems (to include replacement
of three (3) HVAC RTU’s and six (6) evaporative coolers, and refurbishment of three (3) evaporative coolers, as per Bjerk Builders, Inc. Budget dated April 12, 2017 – but without any obligation on the part of Lessor to
use Bjerk Builders, Inc., it being acknowledged and agreed that Lessor may use other contractors for all or any part of such work); all lighting systems; electrical switches and plugs; toilets and sinks; hot water units; overhead and hinged doors,
including door seals and dock levelers, all to the extent located in and/or serving the Expansion Premises; and all windows, skylights, structural components and the roof membrane located in and/or serving the Premises. Within a reasonable period of
time Lessor shall deliver to Lessee a certificate from an engineer reasonably acceptable to Lessee certifying that the HVAC and other air handling systems located in and/or serving the Premises are then in a state of good repair and working order
with a determination of life cycle. 

  

	2.	 Term.  The existing term of the Lease (the “Existing Term”) is currently scheduled
to expire on March 31, 2022. As of the Effective Date, the Existing Term shall be deemed extended through and until March 31, 2027 (the “Expiration Date”, and such extended term, the “Extended Term”). As
of the Effective Date, all references to the “Term” or the “term of this Lease” (or any similar reference to the term of the Lease, whether in the Lease or in this Amendment) shall mean and refer to the Existing
Term as extended through and until the Expiration Date. Lessor and Lessee hereby acknowledge and agree that, as of the Effective Date, paragraph 2.2 of the Lease shall be deleted in its entirety, and shall be of no further force or effect.

  

	3.	 Rent.  As of the Effective Date, the rent schedule provided in paragraph 3.1 of the Lease shall be
amended as follows: 

  

							
	 Months

 
	  	 Approximate Dates

 
	  	 Monthly Rent

 
	  	
	 Months 1-12
	  	 May 2017 - April 2018
	  	 $[***]

	 Months 13-24
	  	 May 2018 - April 2019
	  	 $[***]

	 Months 25-36
	  	 May 2019 - April 2020
	  	 $[***]

	 Months 37-48
	  	 May 2020 - April 2021
	  	 $[***]

	 Months 49-60
	  	 May 2021 - April 2022
	  	 $[***]

	 Months 61-72
	  	 May 2022 - April 2023
	  	 $[***]

	 Months 73-84
	  	 May 2023 - April 2024
	  	 $[***]

	 Months 85-96
	  	 May 2024 - April 2025
	  	
$[***]

  

					
		  	 Page 2 of 20
  
	  	

							
	 	  	 	  	 	  	 
	 Months 97-108
	  	 May 2025 - April 2026
	  	 $[***]

	 Months
109-119
	  	 May 2026 - March 2027
	  	 $[***]

 *Base Rent for the Premises shall be abated during months 1, 13, 25 and 37 of the Extended Term
(“Abated Rent”). Notwithstanding such Abated Rent, all other sums due under the Lease, including, without limitation, Common Area Expenses, privilege, excise, sales, gross receipts, rent or other tax levied or assessed by any
governmental authority against Lessor in respect to the rent or other charges under the Lease or as a result of Lessor’s receipt of such rents or other charges, shall be payable as provided in the Lease and this Amendment. 

All rent and other amounts payable by Lessee to Lessor pursuant to the Lease (as amended hereby) (collectively, “Rent”) shall be
payable in advance on or before the first day of each month, and Lessee shall cause payment of Rent to be received by Lessor in immediately available, lawful money of the United States, without offset or deduction (except as specifically permitted
in the Lease), on or before the day on which it is due. Rent for any period during the Term which is for less than one full calendar month shall be prorated based upon the actual number of days of said month. Payment of Rent shall be made to Lessor
electronically as directed by Lessor in writing or to such other persons or place or different manner as Lessor may from time to time designate in writing. Acceptance of a payment which is less than the amount then due shall not be a waiver of
Lessor’s rights to the balance of such Rent, regardless of Lessor’s acceptance of an electronic payment for less than the amount due. 

Paragraph 3.2 of the Lease is hereby deleted in its entirety. 
  

	4.	 Security Deposit.  In addition to the Security Deposit stated in paragraph 4.1 of the Lease,
on or prior to the Effective Date, Lessee shall deposit an additional $37,106.92, such that the total Security Deposit held by Lessor shall be $47,106.92. In addition to the permissible uses of the Security Deposit stated in paragraph 4.1 of the
Lease, Lessee hereby waives all provisions of law, now or hereafter in effect, which provide that Lessor may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by
Lessee or to clean the Premises, it being agreed that Lessee may, in addition, claim the Security Deposit those sums reasonably necessary to compensate Lessor for any other loss or damage, foreseeable or unforeseeable, caused by any default and/or
breach by Lessee pursuant to the Lease. 

  

	5.	 Uses and Suitability.  Paragraph 5.1 of the Lease is hereby deleted in its entirety and
replaced with the following: “Use. The Premises shall be used and occupied by Lessee for only the following purposes and for no other purposes whatsoever, without obtaining the prior written consent of Lessor: office and storage and
manufacturing incidental to Lessee’s business, which does not generate excessive noise, particulate matter, vibration, smoke, dust, gas, fumes, odors, radiation and other nuisance characteristics, all in accordance with applicable municipal,
county, state and federal laws and regulations governing and regulating Lessee’s use of the Premises and occupancy thereof. Lessee’s compliance with laws and regulations pursuant to this Section shall be at Lessee’s sole cost and
expense.” 

  

					
		  	 Page 3 of 20
  
	  	

	6.	 Real Property Taxes and Common Area Expenses. 

	 	a.	 Notwithstanding anything to the contrary in paragraph 6.1(b) of the Lease, Lessor shall have no obligation to perform
any of the following with respect to the Common Areas: cleaning, sweeping, janitorial services, pest control, traffic control, security guards or systems, preventative and/or routine maintenance, line painting, lighting and other utilities,
directional signs and other markers and bumpers, sanitary control, maintaining and operating any air conditioning and heating, waste disposal, removal of garbage, trash and other refuse, cost of all utilities and services consumed or performed on
the Common Areas or required fees or changes levied pursuant to any governmental authority, all of which obligations shall be Lessee’s sole responsibility pursuant to paragraph 13 of the Lease, as amended by Section 11 of this Amendment.
Lessor shall provide a breakdown of the 2017 estimate of Common Area Expenses prior to the Effective Date of this Amendment. 

  

	 	b.	 The management fee referenced in Paragraph 6.1(b) of the Lease shall not exceed 2.5% of all Rent payable pursuant to
the Lease (including Common Area Expenses other than the management fee). 

  

	 	c.	 Paragraph 6.1(d) of the Lease is hereby deleted in its entirety. Lessor and Lessee acknowledge and agree that, from
and after the Effective Date, Lessee’s pro rata share of Real Property Taxes and Common Area Expenses shall be one hundred percent (100%). 

  

	 	d.	 Notwithstanding anything to the contrary in paragraph 6.2(a) of the Lease, Lessor and Lessee acknowledge and agree
that, from and after the Effective Date, Lessee shall pay all Real Property Taxes directly to applicable governmental authorities prior to the date due. Lessee shall provide written proof of such payment within ten (10) days following
Lessee’s payment thereof. In the event Lessee fails to pay Real Property Taxes as and when due, Lessor shall be permitted to pay such Real Estate Taxes directly, and Lessee shall reimburse Lessor on demand, as additional rent, for the amount of
such payment(s) (including any applicable late charges imposed by such governmental authorities), plus applicable late charges pursuant to the Lease. 

  

	7.	 Utilities.  Paragraph 8 of the Lease shall be deleted in its entirety and replaced with the
following: “Lessee shall pay when billed and before delinquent, directly to each utility provider, all charges for gas (if available), electricity, air conditioning, heating, telephone, janitorial services, water and other utilities or services
furnished to the Premises (including Common Areas) or to Lessee during the Term of the Lease. Lessee shall keep the Premises free of any liens created by Lessee’s failure to make such payments. Lessor shall be under no obligation to provide any
utilities to the Premises, and in no event shall Lessor be liable for any interruption in utility services to the Premises. Furthermore, in no event shall Rent be abated or suspended during any period of such interruption.”

  

	8.	 Damage and Destruction.  The word “cannot” in the first line of paragraph 9.2 of the
Lease shall be replaced with the word “can”. 

  

					
		  	 Page 4 of 20
  
	  	

	9.	 Liability Insurance.  Paragraph 10.2 of the Lease is hereby amended to insert the following
new item 10.2(c): “(c) business interruption and/or Extra Expense insurance in such amounts and covering such losses as Lessor may reasonably require.” 

Additionally, the last sentence of paragraph 10.2 of the Lease is deleted in its entirety and replaced with the following:
“Notwithstanding the foregoing, Lessor shall have the option to include the cost of all such insurance as part of the Common Area Expenses pursuant to paragraph 6 hereof, instead of billing Lessee separately for such cost.” 

 

	10.	 Liability and Indemnification.  Notwithstanding anything to the contrary in paragraph 11.2
of the Lease, the definition of “Lessor” therein shall be deemed to include, Lessor and its members, managers and each of their respective officers, directors, members, managers, partners, employees, agents, contractors, invitees and
lenders. 

  

	11.	 Repairs and Maintenance.  Paragraph 13 of the Lease shall be deleted in its entirety and
replaced with the following: “It is expressly understood and agreed that Lessor is under no obligation to provide Lessee with any services except as otherwise expressly set forth in this Lease. In addition to items of work required in
Section 1(c) of this Amendment, Lessor shall, at Lessor’s sole cost and expense, maintain and make all necessary repairs and/or replacements to all structural portions of exterior walls, structural portions of the roof, slab, foundations
and other structural components of the Premises. Additionally, subject to reimbursement from Lessee as part of Common Area Expenses, Lessor shall maintain the exterior landscaping at the Premises; repair, repave and restripe the driveways and
parking areas of the Premises; maintain and make all necessary repairs and/or replacements to the roof membrane; and replace any HVAC equipment serving the Premises following completion of the replacement and refurbishment of any such equipment
pursuant to Section 1(c) of this Amendment. Such repairs and replacements may include capital expenditures whose benefit may extend beyond the Term and these costs shall be amortized and reimbursed as Common Area Expenses over the useful life
of each improvement. Except for Lessor’s foregoing maintenance and repair obligations, and subject to Lessor’s obligations with respect to Damage or Destruction (pursuant to paragraph 9 of this Lease) and Eminent Domain (pursuant to
paragraph 12 of this Lease), Lessee shall, at Lessee’s sole expense, keep the Premises (including all Common Areas), in good order, condition and in a good state of repair, reasonable wear and tear excepted, including, but not limited to,
plumbing, electrical, lighting facilities, meters, fixtures, ceilings, floors, parking areas, docks, aprons and loading facilities, walls, signs, doors, seals, windows, sills, plate glass, skylights, all floor and window coverings, air and/or vacuum
lines, power panels, electrical distribution, security and fire protection systems, communication systems (including cabling), information technology infrastructure, lighting fixtures, HVAC systems and equipment and other air-handling equipment, plumbing and, any modification or improvements made by Lessor or Lessee to the Premises. To the extent any repairs need to be made pursuant to this paragraph, after Lessor delivers notice to
Lessee of its duty to make such repair and Lessee fails to make such repair within the a reasonable time to be specified in Lessor’s notice, then Lessor, at its election, may make such repair at the expense of Lessee and Lessee shall promptly
reimburse Lessor for such expense upon Lessor’s demand. All repairs, restorations and replacements shall be in quality and class equal to the original work, and shall be made at Lessee’s sole cost and expense.” 

  

					
		  	 Page 5 of 20
  
	  	

 Notwithstanding anything to the contrary herein, Lessor shall have no obligation to
perform any of the obligations applicable to the Common Areas which are specifically referenced in Section 6(a) of this Amendment as being excluded from Lessor’s obligations. 

 

	12.	 Lessee’s Initial Improvements.  Paragraph 14 of the Lease is hereby deleted in its entirety,
and shall be of no further force or effect. 

  

	13.	 Lessee’s Alterations.  The following portion of the first sentence of paragraph 15 of the
Lease shall be deleted: “In addition to the initial improvements provided for in paragraph 14 hereof,”. Notwithstanding the terms set forth in paragraph 15 of the Lease, prior to commencing any alterations or improvements estimated to cost
over Five Thousand Dollars and 00/100 ($5,000.00), Lessee shall present to Lessor for Lessor’s review and written approval, subject to Lessor’s sole and absolute discretion, a schedule of such alterations or improvement work providing
detailed information, specifications of equipment to be installed, quantities, unit pricing, specific location of the Premises where improvements will be performed and total contract price any of such work. Lessee shall, promptly upon completion of
any alterations, furnish Lessor with (a) as-built plans and specifications and copies of all final governmental permits and approvals with respect to such alterations, (b) unconditional lien releases
and waivers from all contractors and subcontractors that performed the alterations in compliance with applicable law, plus any other documents reasonably necessary in order to ensure the lien free completion of the work, and (c) written
verification of all costs actually incurred by Lessee for the applicable alterations, including copies of all work orders, invoices, contracts and final receipts. 

 

	14.	 Assignment and Subletting. 

	 	a.	 Paragraph 18.1 is hereby amended such that Lessor’s consent to any assignment, transfer, mortgage, or encumbrance
of the Lease may be granted or withheld in Lessor’s sole and absolute discretion. Additionally, the following language shall be added to the end of paragraph 18.1 of the Lease: “Each request for consent to an assignment or subletting shall
be in writing, accompanied by information relevant to Lessor’s determination as to the financial and operational responsibility and appropriateness of the proposed assignee or sublessee, including, but not limited to, the intended use and/or
required modification of the Premises and Lessee agrees to provide Lessor with such other or additional information and/or documentation as may be reasonably requested for Lessor to make such determination. Lessor’s consent to any assignment or
subletting shall not constitute a consent to any subsequent assignment or subletting.” 

  

	 	b.	 Notwithstanding anything to the contrary in the Lease, if Lessor shall consent to any proposed sublease of the
Premises, or an assignment of this Lease, and if Lessee shall enter into any sublease of the Premises or any part thereof, or an assignment of this Lease, Lessee agrees to pay to Lessor fifty percent (50%) of any Transfer Premium. For purposes
hereof, “Transfer Premium” shall mean all rent, additional rent or other consideration payable by such assignee or sublessee in connection with the assignment or sublease, as applicable, in excess of the Rent payable by Lessee
pursuant to the Lease during the remaining Term (in the event of an assignment) or the term of the sublease (in the event of a sublease), as applicable (on a per square foot basis if less than all of the Premises is subleased), including, but not be
limited to, key money, bonus money or other cash consideration paid by a 

  

					
		  	 Page 6 of 20
  
	  	

	 	 
transferee to Lessee in connection with such assignment or sublease, as applicable, and any payment in excess of fair market value for services rendered by Lessee to an assignee or sublessee, as
applicable. Provided that Lessee delivers to Lessor supporting documentation reasonably acceptable to Lessor, Lessee may deduct from the Transfer Premium all actual and reasonable
out-of-pocket expenses incurred by Lessee in connection with the assignment or sublease, as applicable, amortized over the remaining Term (in the event of an assignment)
or the term of the sublease (in the event of a sublease), as the case may be, including any reasonable brokerage commissions paid by Lessee, any free rent provided by the Lessee, any other improvements and/or improvement costs of any nature provided
or paid by the Lessee in connection with such assignment or sublease. Lessee agrees to pay to Lessor the Transfer Premium prior to the effective date of, and as an express condition to Lessor’s obligation to consent to, the assignment or
sublease. Lessor or its authorized representatives shall have the right at all reasonable times to audit the books, records and papers of Lessee relating to any sublease, assignment or other transfer (including, but not limited to, a sale of
Lessee’s business), and shall have the right to make copies thereof. If the Transfer Premium respecting any sublease, assignment or other transfer shall be found understated, Lessee shall, within thirty (30) days after demand, pay the
deficiency and Lessor’s costs of such audit, and if understated by more than ten percent (10%), Lessor shall have the right to cancel this Lease upon thirty (30) days’ notice to Lessee. 

 

	 	c.	 Notwithstanding anything to the contrary herein, Lessor acknowledges and agrees that Lessee intends to sublet a
portion of the Premises as soon as practicable following the Effective Date. In connection therewith, Lessor agrees not to unreasonably withhold its consent to such initial sublease transaction, however Lessee agrees that the Transfer Premium shall
be payable in connection therewith to the extent applicable. Following such initial sublease transaction, Lessor’s right to withhold consent to any subsequent assignment or sublease shall be subject to Lessor’s sole and absolute discretion
pursuant to Section 14(a) above. 

  

	15.	 Surrender of Premises and Holding Over. 

	 	a.	 The following sentences shall be added to the end of paragraph 19.1 of the Lease: “Upon the expiration or earlier
termination of the Term, all alterations and improvements to the Premises made by Lessee shall be and remain the property of Lessor and shall not be removed by Lessee at the termination of the Lease, unless Lessor so directs in writing pursuant to
paragraph 15 of this Lease. If Lessor directs Lessee to remove such alterations or improvements, Lessee shall perform such removal in accordance with the terms and conditions of the Lease and this Amendment at Lessee’s sole cost and expense.
Lessee shall notify (“Lessee’s Inspection Notice”) Lessor in writing at least one hundred twenty (120) days prior to vacating the Premises and shall within thirty (30) days prior to vacating arrange to meet with
Lessor for a joint inspection of the Premises prior to vacating. If Lessee timely delivers Lessee’s Inspection Notice and the parties meet for a joint inspection of the Premises prior to Lessee’s vacation of the Premises, then Lessor shall
have the right, as it deems necessary or desired, to provide Lessee with a list of items (“Lessor’s Inspection List”) that Lessor shall require Lessee, at Lessee’s sole cost, to remove, repair, replace and/or restore prior
to the Expiration Date or any earlier termination date, provided that the items on the Lessor’s Inspection List were not preexisting prior to the Effective Date. If Lessee fails to timely give such Lessee’s Inspection Notice or to timely
arrange for such 

  

					
		  	 Page 7 of 20
  
	  	

	 	 
inspection, then Lessor’s inspection of the Premises shall be deemed conclusive for the purpose of determining Lessee’s responsibility for removal, repairs, replacement and/or
restoration of the Premises. Lessor shall have the right (whether or not Lessor has inspected the Premises prior to Lessee’s vacation thereof) to inspect the Premises after Lessee vacates and surrenders possession of the Premises to Lessor to
determine whether or not additional removal, repairs replacement and/or restoration work is required by Lessee hereunder, in which case, Lessee shall continue to be responsible for any such additional items of removal, repair, replacement and/or
restoration work identified by Lessor. In the event that Lessee fails to timely vacate the Premises and/or to timely perform all of Lessee’s surrender obligations as required, Lessor may require Lessee to continue to perform Lessee’s
surrender obligations following the expiration or earlier termination of this Lease, in which case, Lessee shall be deemed in holdover of the Premises pursuant to the provisions of paragraph 19.2 of the Lease (as amended herein) until Lessee has
completed all of Lessee’s surrender obligations as required herein and to the reasonable satisfaction of Lessor. In addition, at least fourteen (14) days but no more than thirty (30) days prior to the Expiration Date or any earlier
termination date, Lessee shall deliver to Lessor a certificate from an engineer reasonably acceptable to Lessor certifying that the HVAC and other air-handling systems are then in a state of good repair and
working order, provided that the foregoing obligation shall not be required in the event Lessee has maintained the HVAC and other air-handling systems during the Term and can provide documentation acceptable
to the Lessor of maintenance records. 

  

	 	b.	 Paragraph 19.2 of the Lease shall be amended so that the holdover rental rate shall be one hundred and twenty-five
percent (125%) of the base rent payable by Lessee during the last calendar month of the Term. 

  

	16.	 Surrender.  The following shall be added to the beginning of paragraph 29 of the Lease:
“Subject to the requirements set forth in paragraphs 15 and 19.1 of the Lease,”. 

  

	17.	 Notices.  Lessor’s address for notices shall be amended as follows: notices sent via
certified or registered mail, overnight courier or personal delivery shall be to the following address: CAM Investment 352 LLC, 1900 Avenue of the Stars, Suite 320, Los Angeles, California 90067. All other notices may be sent to: CAM Investment 352
LLC, 11000 Wilshire Blvd., #24710, Los Angeles, California 90024. 

 Lessee’s address for notices shall be amended as follows:
7303 30th Street SE, Calgary, AB T2C 1N6, Attn: Ha Tran. 
  

	18.	 Parking.  The last sentence of paragraph 32 of the Lease is hereby deleted in its entirety.
From and after the Effective Date, Lessee shall have the right to use all available parking at the Premises including assigned parking on the East side of the building (outside the gated area). 

 

	19.	 Lessee Authority.  In addition to paragraph 42 of the Lease, Lessee will require not less
than ten (10) business days in order to obtain senior management or board approval for any lease or amendment. 

  

					
		  	 Page 8 of 20
  
	  	

	20.	 Guarantor.  DIRTT Environmental Solutions Ltd., a publicly traded entity on the Toronto
Stock Exchange (“Guarantor”) shall execute a guaranty in the form attached hereto as Exhibit “C”, pursuant to which such Guarantor shall have the same obligations as Lessee pursuant to the Lease and this Amendment.

  

	21.	 Patriot Act and Executive Order 13324.  (a) Lessee is not, nor is it owned or controlled
directly or indirectly by, any person, group, entity or nation named on any list issued by the Office of Foreign Assets Control of the United States Department of the Treasury (“OFAC”) pursuant to Executive Order 13224 or any
similar list or any law, order, rule or regulation or any Executive Order of the President of the United States as a terrorist, “Specially Designated National and Blocked Person” or other banned or blocked person (any such person, group,
entity or nation being hereinafter referred to as a “Prohibited Person”); (b) Lessee is not (nor is it owned or controlled, directly or indirectly, by any person, group, entity or nation which is) acting directly or indirectly for
or on behalf of any Prohibited Person; and (c) neither Lessee (nor any person, group, entity or nation which owns or controls Lessee, directly or indirectly) has conducted or will conduct business or has engaged or will engage in any
transaction or dealing with any Prohibited Person, including without limitation any assignment of this Lease or any subletting of all or any portion of the Premises or the making or receiving of any contribution of funds, goods or services to or for
the benefit of a Prohibited Person. 

  

	22.	 Inducement Recapture.  Any agreement for free or abated rent for Lessee’s entering into
the Lease or this Amendment, all of which concessions are hereinafter referred to as “Inducement Provisions,” shall be deemed conditioned upon Lessee’s full and faithful performance of all of the terms, covenants and
conditions of the Lease and this Amendment. Upon the occurrence of an event of default by Lessee, provided that such event of default is not cured within any applicable timeframe provided for cure thereof, any such Inducement Provision shall
automatically be deemed deleted from the Lease and this Amendment and of no further force or effect, and the unamortized portion of any rent theretofore abated, given or paid by Lessor pursuant to such an Inducement Provision shall be immediately
due and payable by Lessee to Lessor. The acceptance by Lessor of rent shall not be deemed a waiver by Lessor of the provisions of this Section unless specifically so stated in writing by Lessor at the time of such acceptance. 

 

	23.	 Brokers.  Lessor and Lessee each represent and warrant to the other that no broker or finder
was instrumental in arranging or bringing about this Amendment, there are no claims or rights for brokerage commissions or finder’s fees in connection with the same other than Cushman Wakefield (the “Brokers”). In the event
that any broker other than Brokers brings a claim for a commission or finder’s fee based upon any contact, dealings or communication with Lessor or Lessee relating to this transaction, then the party through whom such person makes his claim
shall defend the other party (the “Indemnified Party”) from such claim, and shall indemnify the Indemnified Party and hold the Indemnified Party harmless from any and all costs, damages, claims, liabilities or expenses (including,
without limitation, reasonable attorneys’ fees and disbursements) incurred by the Indemnified Party in defending against the claim. The provisions of this Section 23 shall survive the expiration or early termination of the Lease.

  

	24.	 Representation.  As a material inducement and consideration to Lessor to execute and deliver
this Amendment, Lessee represents and warrants to Lessor the truth of the following 

  

					
		  	 Page 9 of 20
  
	  	

	 	 
statements: (i) a true, complete and correct copy of the Lease is attached hereto as Exhibit “D”; (ii) the Lease as modified by this Amendment constitutes the entire
agreement between Lessor and Lessee with respect to the Premises, is presently in full force and effect, and has not been further modified, changed, altered, assigned, supplemented or amended in any respect; (iii) Lessee has the full right,
legal power and actual authority to enter into this Amendment without the consent of any person or party; (iv) as of the date of this Amendment, Lessee has not assigned, encumbered or hypothecated all or any portion of its interest in the Lease
or subleased all or any portion of the Existing Premises; (v) the Lease is the only lease or agreement, written or oral, between Lessor and Lessee affecting or relating to the Premises; (vi) no one except Lessee and its employees currently
occupies the Existing Premises and no one except Lessee has any right, title or interest in the Existing Premises; (vii) Lessee has no offsets, claims, or defenses to the enforcement of the Lease; (viii) no actions, whether voluntary or
otherwise, are pending against Lessee under the bankruptcy laws of the United States or any state thereof; (ix) as of the date hereof, and to the best of Lessee’s knowledge, after due inquiry, Lessor and Lessee are not in default under the
Lease and have not committed any breach of the Lease; no event has occurred which, but for the passing of time or for the giving or receipt of notice, or both, would constitute a default under the Lease; and no notice of default has been given under
the Lease; (x) to the best of Lessee’s knowledge, the use, and operation of the Existing Premises comply with all applicable federal, state, county or local statutes, laws, rules and regulations of any governmental authorities relating to
environmental, health or safety matters (collectively, “Environmental Laws”); (xi) the Existing Premises, during the Lessee’s occupancy thereof, have not been used and Lessee will not use the Premises for any activities which,
directly or indirectly, involve the use, generation, treatment, storage, transportation or disposal of any petroleum product or any toxic or hazardous chemical, material, substance, pollutant or waste except in compliance with Environmental Laws;
Lessee has not received any notices, written or oral, of violation of any Environmental Laws relating to the Existing Premises or of any allegation which, if true, would contradict anything contained in this Amendment and there are no writs,
injunctions, decrees, orders or judgments outstanding, and no lawsuits, claims, proceedings or investigations pending or threatened against Lessee, relating to the use or operation of the Existing Premises, nor is Lessee aware of a basis for any
such proceeding; and (xii) any Lessee alterations to the Existing Premises (conducted prior to the Effective Date) are complete and were constructed in accordance with all laws, ordinances, permits, and codes applicable thereto, and all
obligations of Lessor under the Lease to construct any improvements on, and to make repairs to, the Existing Premises have been fully performed by Lessor and accepted by Lessee, and Lessee has no claims against Lessor in connection therewith.

  

	25.	 Confidentiality.  Lessor and Lessee acknowledge that the terms and conditions of the Lease
(including this Amendment) are to remain confidential, and may not be disclosed by Lessor or Lessee to anyone, by any manner or means, directly or indirectly, without the other party’s prior written consent; however, each party may disclose the
terms and conditions of the Lease (including this Amendment) to its attorneys, accountants, employees and existing or prospective financial partners, or if required by law, court order or the rule of any recognized stock exchange upon which a
party’s securities are listed, provided all parties to whom either party is permitted hereunder to disclose such terms and conditions are advised by such party of the confidential nature of such terms and conditions and agree to maintain the
confidentiality thereof (in each case, prior to disclosure). The foregoing provision shall not apply 

  

					
		  	 Page 10 of 20
  
	  	

	 	 
to instances in which the terms and conditions of this Lease must be disclosed in order for a party to comply with the rule of any recognized stock exchange upon which its securities are listed.

  

	26.	 Acquisition Contingency.  This Amendment shall be null and void and of no further force and effect
in the event that Lessor (or a parent, subsidiary or other affiliate of Lessor) does not acquire the Project from Original Lessor on or before the date which is ninety (90) days following the mutual execution and delivery of this Amendment.
Original Lessor shall not be a third-party beneficiary of this Amendment but this amendment shall be effective as to Lessor and its assigns as of the date of closing of such acquisition (the “Effective Date”), which closing shall be
evidenced by recordation in the official records of Maricopa County, Arizona of a warranty deed conveying the Premises from Original Lessor to Lessor. The Effective Date shall be deemed to be the date of such closing without any further action
required on the part of either party hereto, provided that within ten (10) days following the occurrence of the Effective Date, the Effective Date and the Expiration Date of the Lease and certain other terms of the Lease shall be confirmed by
the parties by the execution of a Notice of Term Dates in the form attached hereto as Exhibit “B”. If Lessee fails to execute the Notice of Term Dates within ten (10) days of its delivery, Lessor’s determination of such
dates and terms shall be deemed accepted and Lessee shall thereafter be estopped from challenging the information contained therein. 

  

	27.	 Effect on Lease.  Except as hereby expressly amended, all other terms and conditions of the Lease
shall remain and continue in full force and effect. Lessee has no option rights, nor any similar rights to purchase the Premises or any part thereof (nor any right of first refusal or similar rights). Nothing herein contained alters or amends any
required consent or approval required under the terms of the Lease in connection with any sublease or assignment. Submission of this Amendment by one party to another shall have no legal significance and is not an offer that may be accepted; this
Amendment shall become effective only upon mutual execution and delivery hereof by all parties and contemplated signatory hereof. 

  

	28.	 Counterparts.  This Amendment may be executed in several counterparts (by original,
facsimile or electronic PDF signatures), each of which shall be deemed an original, all of which together shall constitute one and the same Amendment. 

[Signature page follows] 

  

					
		  	 Page 11 of 20
  
	  	

 IN WITNESS WHEREOF, Lessor and Lessee have executed and delivered this Amendment as of
the day and year first above written. 
  

							
		 	LESSOR
		
		 	 CAM Investment 352 LLC,

a Delaware limited liability company

				
		 	By:	  	           /s/ Brandon Delf
	  	
				
		 	Name:	  	           Brandon Delf
	  	
				
		 	Its:	  	           Authorized
Representative
	  	
		
		 	 LESSEE:

		
		 	 DIRTT ENVIRONMENTAL SOLUTIONS, INC.,

a Colorado corporation

				
		 	 By:
	  	    /s/ Scott Jenkins	  	

 
							
				
		 	 Name:
	  	     Scott Jenkins
	  	
				
		 	 Its:
	  	     President
	  	

  

					
		  	 Page 12 of 20
  
	  	

 EXHIBIT “A” 

PREMISES 
  

 

  

					
		  	Page 13 of 20	  	

 EXHIBIT “B” 

NOTICE OF TERM DATES 
  

			
	 To:
	 	
                   
                         

	         
	 	
                   
                         

		 	
                   
                         

		 	
                   
                         

Re:                         dated
                     (“Lease”), between
                             (“Lessor”), and
                             (“Lessee”), concerning certain premises located at
                            , as more particularly described in the Lease. All capitalized terms not
defined herein shall have the same meanings as given to them in the Lease. 
 Gentlemen: 

In accordance with the Lease, we wish to advise you and/or confirm as follows: 

1.        The Term shall commence on or has commenced on
             for a term of              ending on
            . 
 2.        Beneficial Occupancy shall
commence on or has commenced on              for a term of              ending on
            . 
 3.        Base Rent commenced to accrue on
                    , in the amount of
                    . 

4.        If the Commencement Date or the Beneficial Occupancy Date is other than the first day of the month, the first billing
will contain a pro rata adjustment. Each billing thereafter, with the exception of the final billing, shall be for the full amount of the monthly installment as provided for in the Lease. 

5.        Your rent checks should be made payable to
                     at
                    . 

6.        The Premises contains
                     square feet. 

7.        Lessee’s Share is             % of the Building
and             % of the Project. 
 “Lessor”: 

 

                       
                                         
                                         

                       
                                         
                                         

 

			
	
By:                    
                                         
                           

	
Name Printed:                 
                                         
            

	
Title:                       
                                         
                      

 Agreed to and Accepted as of
                    , 20     

  

					
		  	 Page 14 of 20
  
	  	

			
	“Lessee”:
	
	
                       
                                         
                        

	
                       
                                         
                        

	
	
By:                        
                                         
         

	
Name Printed:                     
                                   

	
Title:                       
                                         
       

  

					
		  	 Page 15 of 20
  
	  	

 EXHIBIT “C” 

FORM OF GUARANTY 
 This Guaranty (the
“Guaranty”) is made by DIRTT Environmental Solutions Ltd. (“Guarantor”) for the benefit of CAM Investment 352 LLC (“Lessor”). This Guaranty is made with reference to the following: 

A.        Lessor and DIRTT Environmental Solutions, Inc., a Colorado corporation
(“Lessee”) are parties to that certain Commercial Lease (Triple Net) dated July 1, 2015, as amended by that certain First Amendment to Lease dated on or about the date hereof (the “First Amendment”, and
collectively, the “Lease”) with respect to certain premises more particularly described in the Lease (the “Premises”). 

B.        This Guaranty is being made as a material inducement to Lessor to enter into the First
Amendment and Lessor would not enter into the First Amendment without the execution of this Guaranty by Guarantor. 
 NOW, THEREFORE,
in exchange for good, adequate and valuable consideration, the receipt of which Guarantor acknowledges, and to induce Lessor to enter into the Lease, Guarantor agrees as follows: 

1.        Definitions. Any terms defined in the Lease shall have the same meanings
in this Guaranty, except to the extent that this Guaranty defines such terms differently. 

1.1        “Lessee” means: (a) Lessee as defined above, acting on its own
behalf; (b) any estate created by the commencement of a bankruptcy or similar proceeding affecting Lessee; (c) any trustee, liquidator, sequestrator or receiver of Lessee or Lessee’s property; (d) any similar person or officer,
appointed pursuant to any law governing any bankruptcy or insolvency proceeding or otherwise; and (e) any direct or indirect assignee of Lessee’s estate under the Lease. 

1.2        “Obligations” means all obligations of Lessee under the Lease (as
defined in Section 1.3, below), including, without limitation: (a) the obligation to pay fixed rent; (b) the obligation to make all payments required under the Lease on account of taxes, operating expenses, indemnifications made by
Lessee under the Lease, and all other matters; and (c) all other payment and performance required of Lessee under the Lease. The Obligations shall be determined without regard to any modification or reduction of the Obligations that may occur
pursuant to any bankruptcy, insolvency, or similar proceeding affecting Lessee. Without limiting the generality of the preceding sentence, the Obligations shall be determined, measured and calculated without taking into account any reduction or
limitation thereof that may occur under Section 502(b)(6) of the United States Bankruptcy Code, or any similar or successor statute. Guarantor’s liability for the Obligations shall be determined as if no such reduction or limitation had
occurred. Therefore, Guarantor’s liability may exceed Lessee’s. 

1.3        “Lease” means: (a) the Lease and any renewal, modification,
option, extension or assignment of the Lease (whether or not separately consented to, acknowledged or confirmed by Guarantor); and (b) Lessee’s obligations relating to the Premises during any period when Lessee is occupying the Premises or
any portion thereof either (i) as a “holdover Lessee” or (ii) as a “statutory Lessee” or under any other rent regulation, rent control, rent stabilization, mandatory arbitration or other statutory scheme regulating the
Lessor-Lessee relationship (the parties recognizing, however, that none of the schemes referred to in this clause “ii” would 

  

					
		  	 Page 16 of 20
  
	  	

 
presently apply to the Lease). If Lessor has terminated the Lease, then at Lessor’s option, notwithstanding such termination (and in the event of any subsequent reinstatement of the Lease),
all Obligations under this Guaranty shall be calculated and determined as if the Lease were still in effect. Any request by Lessor that Lessee vacate the Premises and surrender the Lease shall not affect the definition of “Lease” for all
purposes of this Guaranty. 
 2.        Guaranty of Obligations.  Guarantor, hereby
unconditionally and irrevocably guarantees the complete and timely performance of each of the Obligations. This Guaranty is an absolute, primary, and continuing, guaranty of payment and performance and is independent of Lessee’s obligations
under the Lease. Guarantor shall be primarily liable, jointly and severally, with Lessee and any other guarantor of the Obligations. Guarantor waives any right to require Lessor to (a) join Lessee with Guarantor in any suit arising under this
Guaranty, (b) proceed against or exhaust any security given to secure Lessee’s obligations under the Lease, or (c) pursue or exhaust any other remedy in Lessor’s power. Until all of the Obligations have been discharged in full,
Guarantor shall have no right of subrogation against Lessee. Lessor may, without notice or demand and without affecting Guarantor’s liability hereunder, from time to time, compromise, extend or otherwise modify any or all of the terms of the
Lease, or fail to perfect, or fail to continue the perfection of, any security interests granted under the Lease. Without limiting the generality of the foregoing, if Lessee elects to increase the size of the Premises, extend the term of the Lease,
or otherwise expand the Obligations, Lessee’s execution of such lease documentation shall constitute Guarantor’s consent thereto (and such increased Obligations shall constitute guaranteed Obligations hereunder); Guarantor hereby waives
any and all rights to consent thereto. Guarantor waives any right to participate in any security now or hereafter held by Lessor. Guarantor hereby waives all presentments, demands for performance, notices of nonperformance, protests, notices of
protest, dishonor and notices of acceptance of this Guaranty, and waives all notices of existence, creation or incurring of new or additional obligations from Lessee to Lessor. Guarantor further waives all defenses afforded guarantors or based on
suretyship or impairment of collateral under applicable law, other than payment and performance in full of the Obligations. The liability of Guarantor under this Guaranty will not be affected by (1) the release or discharge of Lessee from, or
impairment, limitation or modification of, Lessee’s obligations under the Lease in any bankruptcy, receivership, or other debtor relief proceeding, whether state or federal and whether voluntary or involuntary; (2) the rejection or
disaffirmance of the Lease in any such proceeding; or (3) the cessation from any cause whatsoever of the liability of Lessee under the Lease. The obligations of Lessee under the Lease to execute and deliver estoppel statements, as therein
provided, shall be deemed to also require the Guarantor hereunder to do so and provide the same relative to Guarantor following written request by Lessor in accordance with the terms of the Lease. This Guaranty shall be binding upon the heirs, legal
representatives, successors and assigns of Guarantor and shall inure to the benefit of Lessor’s successors and assigns. 

3.        Waiver of Jury Trial. GUARANTOR IRREVOCABLY WAIVES ANY RIGHT TO TRIAL BY JURY IN
ANY ACTION, PROCEEDING, COUNTERCLAIM OR OTHER LITIGATION ARISING OUT OF OR RELATING TO THIS GUARANTY, THE ENFORCEMENT OF THIS GUARANTY, OR ANY ACTIONS OF LESSOR IN CONNECTION WITH OR RELATING TO THE ENFORCEMENT OF THIS GUARANTY. 

4.        Lessor’s Costs.  Guarantor shall pay to Lessor all costs incurred by
Lessor in enforcing this Guaranty (including, without limitation, reasonable attorneys’ fees and expenses). 

  

					
		  	Page 17 of 20	  	

 5.        Notices. All notices and
other communications given pursuant to, or in connection with, this Guaranty shall be delivered in the same manner required in the Lease. All notices or other communications addressed to Guarantor shall be delivered at the address set forth below.

 6.        Lessee’s Financial Condition. Guarantor represents that Guarantor is
fully aware of the financial condition of Lessee. Guarantor delivers this Guaranty based solely upon Guarantor’s own independent investigation and based in no part upon any representation or statement by Lessor. Guarantor is not relying upon,
nor expecting, Lessor to furnish Guarantor with any information concerning the financial condition of Lessee. 

7.        No Third-Party Beneficiaries. This Guaranty is executed and delivered for the
benefit of Lessor and its successors and assigns, and is not intended to benefit any third party. 

8.        Interpretation. This Guaranty shall be governed under the law of the State in
which the Premises is located. Guarantor represents and warrants that the recitals of this Guaranty are true and correct. 

9.        ENTIRE AGREEMENT. THIS GUARANTY CONTAINS THE ENTIRE AGREEMENT AMONG THE
PARTIES WITH RESPECT TO THE MATTERS SET FORTH IN THIS GUARANTY. THIS GUARANTY SUPERSEDES ANY AND ALL PRIOR WRITTEN, ORAL OR IMPLIED UNDERSTANDINGS OR AGREEMENTS AMONG THE PARTIES WITH RESPECT TO THE MATTERS SET FORTH IN THIS GUARANTY. THE PARTIES
UNDERSTAND AND AGREE THAT THEY ARE NOT RELYING UPON ANY REPRESENTATIONS AND/OR WARRANTIES NOT EXPRESSLY CONTAINED WITHIN THIS GUARANTY OR THE LEASE AND THAT NO SUCH EXTRA-CONTRACTUAL REPRESENTATIONS HAVE BEEN MADE. NO COURSE OF PRIOR DEALINGS AMONG
THE PARTIES, NO USAGE OF TRADE, AND NO PAROL OR EXTRINSIC EVIDENCE OF ANY NATURE SHALL BE USED TO SUPPLEMENT, MODIFY OR VARY ANY TERMS OF THIS GUARANTY. THE PARTIES AGREE THAT THEY HAVE HAD AN OPPORTUNITY AND HAVE BEEN ADVISED TO CONSULT WITH
INDEPENDENT LEGAL COUNSEL BEFORE ENTERING INTO THIS GUARANTY AND THAT IN ENTERING INTO THIS GUARANTY THEY ARE NOT RELYING ON ANY PROMISE, WHETHER EXPRESS OR IMPLIED, AS AN INDUCEMENT OR REASON TO ENTER INTO THIS GUARANTY. NO TERMS OR PROVISIONS OF
THIS GUARANTY MAY BE CHANGED, WAIVED, REVOKED OR AMENDED WITHOUT LESSOR’S PRIOR WRITTEN CONSENT. IF ANY COURT OF COMPETENT JURISDICTION DETERMINES THAT ANY PROVISION OF THIS GUARANTY IS UNENFORCEABLE, THEN ALL OTHER PROVISIONS OF THIS GUARANTY
SHALL REMAIN FULLY EFFECTIVE. 

                           
  GUARANTOR’S INITIALS                                 LESSOR’S
INITIALS 
 ALL OTHER REPRESENTATIONS OR AGREEMENTS NOT CONTAINED HEREIN ARE SET FORTH BELOW. IF THERE ARE NO OTHER REPRESENTATIONS OR AGREEMENTS, INSERT
“NONE”. 

                         
                                         
               

                         
                                         
               

                         
                                         
               

                           
  GUARANTOR’S INITIALS                                 LESSOR’S
INITIALS 

  

					
		  	Page 18 of 20	  	

 10.        Authority. If Guarantor is a
corporation, a trust, a limited liability company, a partnership, or similar entity, each individual executing this Guaranty on behalf of such entity represents and warrants that he or she is duly authorized to execute and deliver this Guaranty on
its behalf. Guarantor shall, within thirty (30) days after request, deliver to Lessor satisfactory evidence of such authority. 
  

	
	 Executed
at:                                        
                                        

	
Date:                        
                                         
                          

	 By
GUARANTOR:                                       
                                

	  

                         
                                         
                                  

	 By: [FORM DOCUMENT – DO NOT SIGN EXHIBIT]

	 Name
Printed:                                       
                                      

	
Title:                       
                                         
                            

	
Address:                       
                                         
                      

	
                        
                                         
                                   

	 Telephone
(    )                                    
                                       

	 Facsimile
(    )                                    
                                         

	 Federal ID
No.                                        
                                    

  

					
		  	Page 19 of 20	  	

 EXHIBIT “D” 

LEASE 

  

					
		  	Page 20 of 20	  	

 COMMERCIAL LEASE 

(Triple Net) 
 This lease
entered into this 1st day of July, 2015, between MAJIK VENTURES, L.L.C., an Arizona limited liability company, (“Lessor”) and DIRTT ENVIRONMENTAL SOLUTIONS, INC., a Colorado corporation
(“Lessee”). 
 WITNESSETH: 
  

	1.	 PREMISES. 

In consideration of the rents and covenants herein set forth, Lessor hereby leases to Lessee and Lessee hereby rents from Lessor the premises shown
outlined on Exhibit “A” attached hereto (hereinafter referred to as the “Premises”). The Premises is part of the building and related parking areas located at 824 East University Drive, Phoenix, Arizona (the
“Project”). The Premises is comprised of approximately [***] square feet of rentable area. The lease of the Premises shall be for the term, upon the rentals and subject to the terms and conditions set forth in this Lease Agreement and
Exhibits hereto. 
  

	2.	 TERM. 

2.1         The term of this Lease shall be for
eighty-one (81) months, commencing on July 1, 2015 and terminating eighty-one (81) months thereafter. Lessee agrees to be given possession upon lease
execution. 
 2.2         Either party hereto may terminate this Lease at any time after
July 1, 2018 upon six (6) months prior written notice to the other party hereto given at any time after July 1, 2018. 
  

	3.	 RENT. 

3.1         Lessee shall pay to Lessor as rent for the Premises monthly payments, in
advance, on the first day of each month during the term of this Lease Agreement as follows: 
 July 1, 2015 to June 30, 2017 =
$[***]/sq. ft./month in the amount of $[***] 
 July 1, 2017 to June 30, 2019 = $[***]/sq. ft./month in the amount of $[***] 

July 1, 2019 to June 30, 2021 = $[***]/sq. ft./month in the amount of $[***] 

July 1, 2021 to March 31, 2022 = $[***]/sq. ft./month in the amount of $[***] 

In addition, Lessee shall pay any privilege, excise, sales, gross receipts, rent or other tax levied or assessed by any governmental authority against
Lessor in respect to the rent or other charges due under this lease or as a result of Lessor’s receipt of such rents or other charges. 

3.2         Lessee shall pay Lessor upon execution hereof $[***], plus applicable taxes as
rent for the first month’s rent. 
 3.3         Rent for any period during the term
hereof which is for less than one month shall be a pro rata portion of the monthly installment. Rent shall be payable in lawful money of the United States to Lessor at the address referred to in paragraph 30 hereof or to such other persons or at
such other places as Lessor may designate in writing. Rent shall be payable without notice, demand, deduction or any offset whatever. 

3.4         In the event Lessee fails to make any installment payment of rent within five
(5) days of the date due, without written demand or notice for payment, then Lessee shall, the next day, pay to Lessor a late charge equal to [***] percent ([***]%) of the amount due. In addition, such delinquent amount

  
 2 

 

 and the late charge shall bear interest from the due date of the rent as provided herein at the rate of
[***] percent ([***]%), per annum, until paid. 
 3.5         Notwithstanding anything to
the contrary contained in this Lease, the first payment of the monthly rental shall be abated in its entirety to compensate Lessee for the purchase and installation of the chain link fence provided for on Exhibit “C” attached
hereto. 
  

	4.	 SECURITY DEPOSIT. 

4.1         Lessee shall pay to Lessor upon execution hereof the sum of $10,000.00 as
security for the faithful performance and observance by Lessee of the terms of this Lease Agreement. It is agreed that in the event Lessee defaults in respect of any of the terms of this Lease Agreement, including, but not limited to, the payment of
rent and additional rent, Lessor may, in addition to any other rights and remedies it may have, use, apply or retain the whole or any part of the security so deposited to the extent required for the payment of any rent and additional rent or any
other sum as to which Lessor may expend or be required to expend by reason of Lessee’s default in respect of any of the terms of this Lease Agreement. If Lessor applies any part of said deposit to cure any default of Lessee, Lessee shall upon
demand deposit with Lessor the amount so applied so that Lessor shall have the full deposit on hand at all times during the terms of this Lease Agreement. 

4.2         Lessor shall not be required to keep the security deposit separate from its
general accounts. In the event that Lessee shall fully and faithfully comply with all of the terms and conditions of this Lease Agreement, the undisbursed balance of the security deposit shall be returned to Lessee without interest after the date
fixed as of the end of the term of this Lease Agreement and after delivery of the entire possession of the Premises to Lessor. In the event of a sale or lease of the Project, Lessor shall have the right to transfer the security to the vendee or
lessee and Lessor shall thereupon be released by Lessee from all liability for the return of such security, and Lessee agrees to look solely to the new landlord for the return of said security, and it is agreed that the provisions hereof shall apply
to every transfer or assignment made of the security to a new landlord. 
  

	5.	 USES AND SUITABILITY. 

5.1         Use. The Premises shall be used and occupied by Lessee for only the
following purposes and for no other purposes whatsoever, without obtaining the prior written consent of Lessor: office and storage and light manufacturing incidental to Lessee’s business, which does not generate excessive noise, particulate
matter, vibration, smoke, dust, gas, fumes, odors, radiation and other nuisance characteristics. Except as provided above, no manufacturing shall be allowed on the Premises. 

5.2         Suitability. The acceptance of possession of the Premises by Lessee
shall be deemed to conclusively establish that Lessee has accepted the Premises as complete for all purposes. In any event this Lease Agreement shall be subject to all applicable zoning ordinances and to any municipal, county and state laws and
regulations governing and regulating the use of the Premises. Lessee acknowledges that neither Lessor nor Lessor’s agent has made any representation or warranty as to the suitability or condition of the Premises for the conduct of Lessee’s
business. 
 5.3         Uses Prohibited. 

 5.3.1    Lessee shall not do or permit anything to be done in or about the Premises which will increase the
existing rate of insurance upon the building in which the Premises are contained (unless Lessee shall pay any increased premium as a result of such use or acts) or cause the cancellation of any insurance policy covering said Premises or any
building, nor shall Lessee sell or permit to be kept, used or 

  
 3 

 

 sold in or about said Premises any articles which may be prohibited by a standard form of policy of fire
insurance. 
  5.3.2    Lessee shall not do or permit anything to be done in or about the Premises which
will in any way obstruct or interfere with the rights of other lessees or occupants of the Project or injure or annoy them or use or allow the Premises to be used for any unlawful or objectionable purposes, nor shall Lessee cause, maintain or permit
any nuisance in, on or about the Premises. Lessee shall not commit or suffer to be committed any waste in or upon the Premises. 

 5.3.3    Lessee shall not use the Premises or permit anything to be done in or about the Premises which will
in any way conflict with any law, statute, zoning restriction, ordinance or governmental rule or regulation or requirements of duly constituted public authorities now in force or which may hereafter be enacted or promulgated. Lessee shall not
(either with or without negligence) cause or permit the escape, generation, manufacture, storage, disposal or release of any biologically or chemically active or other hazardous substances or materials in, on or about the Premises. Lessee shall not
allow the storage or use of such substances or materials in any manner not sanctioned by law and by the highest standards prevailing in the industry for the storage and use of such substances or materials, nor allow to be brought into the Project
any such materials or substances except to use in the ordinary course of Lessee’s business, and then only after written notice is given to Lessor of the identity of such substances or materials. Without limitation, hazardous substances and
materials shall include those described in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. Section 9601 et seq., the Resource Conservation and Recovery Act, as amended, 42 U.S.C.
Section 6901 et seq., any applicable state or local laws and the regulations adopted under these acts. In all events, Lessee shall indemnify Lessor in the manner elsewhere provided in this Lease Agreement from any release of hazardous materials
on the Premises occurring while Lessee is in possession, or elsewhere if caused by Lessee or persons acting under Lessee. The within covenants shall survive the expiration or earlier termination of the term of this Lease Agreement. 

 

	6.	 REAL PROPERTY TAXES AND COMMON AREA EXPENSES. 

6.1         For purposes of this Lease, the following terms shall be defined as follows:

  (a)         The term “Common Areas” shall be defined to mean those
areas of the Project to be used in common with others entitled thereto, except the Premises and all similar areas leased to others or reserved to Lessor’s exclusive use. The Common Areas include, without limitation, parking areas, service roads
and areas, loading and dock facilities, sidewalks, courtyards, gardens, and such other common additional areas and facilities as may be designated as a part of the Common Areas from time to time by Lessor. 

 (b)         The term ‘Common Area Expenses” shall be defined to mean the
total cost and expense incurred by Lessor or Lessor’s agents in operating and maintaining the Common Areas actually used or available for use by Lessee and Lessee’s employees, agents, servants, customers and other invitees, excluding only
items of expense commonly known and designated as carrying charges, but specifically including, without limitation, all sums expended by Lessor for gardening, repairing, repaving, painting, restriping, cleaning, sweeping, planting and landscaping,
janitorial services, pest control, traffic control, security guards or systems, repairs, preventive and routine maintenance, line painting, lighting and other utilities, directional signs and other markers and bumpers, sanitary control, including,
without limitation, all costs of maintaining and operating any air conditioning and heating, sewer, septic, or waste disposal installations, removal of garbage, trash and other refuse, depreciation on machinery and equipment used in such
maintenance, cost of all utilities and services consumed or performed on the Common Areas, required fees or charges levied pursuant to any governmental authority, and a management fee (which may be payable to Lessor or its affiliates), not to exceed
current market rates. 

 4 
  

 
Lessor shall also have the right to include the cost of public liability and property damage insurance on the Common Areas as part of the Common Area Expenses or to separate such cost and bill
Lessee separately for its pro rata share thereof. 
  (c)         The term
“Real Property Taxes” shall be defined to mean all taxes and assessments imposed upon the real property and permanent improvements thereto comprising the Project, or applicable to the Premises and Common Areas or any portion thereof, but
shall not include personal income taxes, personal property taxes, inheritance taxes or franchise taxes levied upon the Lessor, but not directly against said real property, even though such taxes may or shall become a lien against said real property.
Any such Real Property Taxes for the year in which this Lease commences or ends shall be apportioned and adjusted accordingly. With respect to any assessment which may be levied against or upon the Project or the Premises and which, under the laws
then in force, may be evidenced by improvements or other bonds payable in annual installments, only the annual payments on such assessments shall be included in computing Lessee’s obligation for Real Property Taxes. 

 (d)         Lessee’s pro rata share of Real Property Taxes and Common Area
Expenses shall be determined based upon the ratio of the gross floor area of the Premises to the gross floor area of the building and/or complex of buildings comprising the Project. The “gross floor area” is the area measured in square
feet to the center of all party walls and the exterior face of all other exterior walls. Changes in any gross floor area occurring during any monthly period shall be effective on the first day of the next succeeding month, and the amount of any
gross floor area in effect for the whole of any monthly period shall be the average of the total amounts in effect on the first day of each calendar month. 

6.2         Throughout the term of this Lease, Lessee shall pay to Lessor, as additional
rent, the following: 
  (a)         All Real Property Taxes applicable to the
Premises during the term of this Lease together with Lessee’s pro rata share of Real Property Taxes applicable to the Common Areas; provided, however, in the event the Real Property Taxes applicable to the Premises are not separately assessed
and identified by separate tax bill or otherwise, the amount due from Lessee hereunder shall be Lessee’s pro rata share of Real Property Taxes applicable to the Project; and 

 (b)         Lessee’s pro rata share of Common Area Expenses. Such additional
rent shall be computed annually, but may be estimated by Lessor and collected from Lessee on a monthly basis, together with the rent provided in paragraph 3 hereof. Lessor shall provide Lessee with a reconciliation of Lessee’s contributions
toward Real Property Taxes and Common Area Expenses on an annual basis. If such reconciliation shall determine that Lessee’s contributions are insufficient to satisfy Lessee’s obligations hereunder, as finally determined and actually
incurred by Lessor for such period, Lessee shall immediately pay to Lessor any such deficiency. Any contributions by Lessee in excess of such actual expenses shall be credited to any amounts owed by Lessee under this Lease, or refunded to Lessee, at
Lessor’s election. 
  

	7.	 PERSONAL PROPERTY TAXES. 

Lessee shall pay prior to delinquency all taxes assessed or levied upon Lessee’s occupancy of the Premises or upon Lessee’s
trade fixtures, furniture, equipment and all other personal property of Lessee contained in the Premises or elsewhere. When possible, Lessee shall cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and
billed separately from the real property of Lessor. 

 5 
  

	8.	 UTILITIES. 

All utilities shall be separately metered for the Premises, and Lessee shall pay when billed and before delinquent all charges for gas
(if available), electricity, air conditioning, heating, telephone, janitorial services and other utilities or services furnished to the Premises or to Lessee during the term of this Lease Agreement. Lessee shall keep the Premises free of any liens
created by Lessee’s failure to make such payments. Notwithstanding the foregoing, utility charges for water and electricity shall be billed to Lessee as part of “Common Area Expenses” under Section 6.1 hereof for which Lessee
shall be assessed its prorata share. In the event that Lessee’s useage of water and electricity for any twelve (12) month period increases by more than twenty-five percent (25%) over its useage for the immediately preceding twelve
(12) month period, then at Lessor’s request, Lessee, at Lessee’s sole cost and expense, shall have the Premises separately metered for such utilities. 
  

	9.	 DAMAGE OR DESTRUCTION. 

9.1         Except as otherwise provided in this Lease Agreement, in the event that the
Premises or the Project is damaged by fire or other casualty fully covered by Lessor’s insurance, such damage shall be repaired by and at the expense of Lessor. Until such repairs are completed, and except to the extent such damage is caused by
Lessee or its agent or employees, the rent payable hereunder shall be abated in proportion to the portion of the Premises which is rendered unusable by Lessee in the conduct of its business. In no event shall Lessor be obligated to spend more than
the net insurance proceeds received by Lessor on account of any casualty in order to repair or restore the Premises. 

9.2         In the event such repairs cannot, in the reasonable opinion of Lessor, be
substantially completed within sixty (60) days after the occurrence of such damage (without the payment of overtime or other premiums), Lessor may, at its option, exercisable by giving reasonable notice to Lessee, make such repairs with due
diligence. In such event, this Lease Agreement shall continue in full force and effect and the rent payable by Lessee hereunder shall be reduced as above set forth until such repairs are completed. 

9.3         In the event Lessor determines in its reasonable opinion that such repairs
cannot be substantially completed within such sixty (60) day period and does not elect to make such repairs during a reasonable time in excess of such 60-day period, then either Lessor or Lessee may, by
written notice given to the other within ten (10) additional days, terminate this Lease Agreement effective as of the date of the occurrence of such damage. 

9.4         With respect to any damage which Lessor is obligated to repair or elects to
repair, Lessee waives the provisions of Arizona Revised Statutes, Section 33-343 (which section deals with Lessee’s rights to termination in the event of damage or destruction of the Premises). 

9.5         Lessor shall not under any circumstances be required to make any repairs to or
replacements of any paneling, decoration, office fixtures, railing, ceiling or floor covering, partitions or any other property installed in the Premises by Lessee. 

9.6         Notwithstanding anything to the contrary above, in the event of damage to or
destruction of all or any portion of the Premises or the Project to the extent of five percent (5%) or more of the then insurable replacement value of the Project, Lessor shall have the right to terminate this Lease Agreement by written notice to
Lessee, given within thirty (30) days after the date of such damage, destruction or declaration. Upon the giving of any such notice, this Lease Agreement shall terminate. 

9.7         In the event that the damage or cost of repair is less than five percent (5%)
of the replacement value, or in the event Lessor does not elect to terminate this Lease Agreement, the Lease 

 6 
  

 
Agreement shall remain in full force and effect and the Premises shall be repaired and rebuilt in accordance with the other provisions of this Lease Agreement. 

 

	10.	 LIABILITY INSURANCE. 

10.1         During the term of this Lease Agreement, Lessee shall at Lessee’s
expense, maintain general public liability insurance against claims for injury, wrongful death or property damage occurring upon, in or about the Premises with companies and in form acceptable to Lessor, with minimum limits of Two Million Dollars
($2,000,000.00) on account of bodily injuries to or death of one person, Five Million Dollars ($5,000,000) on account of bodily injuries to or death of more than one person as the result of any one accident or disaster, and property damage insurance
with minimum limits of One Hundred Thousand Dollars ($100,000.00). Lessee shall add the name of Lessor to the policies and agrees to insure the interest of Lessor so long as this Lease Agreement is in effect. Lessee shall file proof of insurance
with Lessor prior to Lessee’s possession of the Premises. Lessee hereby releases and waives any and all rights of subrogation against Lessor, and Lessee shall ensure that such policy or policies of insurance shall contain a waiver of
subrogation clause as to Lessor. 
 10.2         During the entire term of this Lease,
Lessor shall, at the expense of Lessee as set forth below, procure and maintain the following policies of insurance: 

  (a)          Commercial general liability insurance for personal injury, death
and property damage occurring on the Common Areas, the limits of liability thereof to be in such amounts as Lessor may reasonably require under the circumstances existing from time to time; and 

  (b)          “Special Form” property coverage insurance against loss
due to fire, vandalism, malicious mischief, sprinkler leakage and special extended perils in an amount adequate to cover the full cost of replacement of the Premises. Said insurance shall provide for payment of loss thereunder to Lessor or to the
holders of mortgages or deeds of trust on the Premises. 
 Lessee shall pay to Lessor, as additional rent, the cost of the insurance to be carried by
Lessor pursuant hereto; provided, however, if the cost applicable to the Premises cannot otherwise be separately identified, the amount(s) payable by Lessee hereunder shall be determined based upon the ratio of the gross floor area of the Premises
to the gross floor area of the building and/or complex of buildings comprising the Project, in a manner consistent with paragraph 6.1(d) hereof. Lessee agrees to pay to Lessor such amount(s) within ten (10) days after written demand is sent by
Lessor to Lessee accompanied by the insurance premium notice(s) and evidence of the amount due. Notwithstanding the foregoing, Lessor shall have the option to include the cost of the insurance on the Common Areas set forth in subparagraph
(a) hereof as part of the Common Area Expenses pursuant to paragraph 6 hereof, instead of billing Lessee separately for such cost. 
  

	11.	 LIABILITY AND INDEMNIFICATION. 

11.1         Lessee shall indemnify and hold Lessor harmless from and against all
liabilities, obligations, losses, damages, penalties, claims, actions, suits, costs, charges and expenses, including reasonable attorneys’ fees, which may be imposed upon or incurred by or asserted against Lessor arising from any breach or
default by Lessee, from any use, non-use or condition of the Premises created by or attributable to Lessee or Lessee’s employees, customers, agents, invitees, licensees, guests or lessees, and from any
negligence, act or omission attributable to Lessee or Lessee’s employees, customers, agents, invitees, licensees, guests or lessees. In the event that any action or proceeding shall be brought against Lessor by reason of any claim referred to
in this paragraph 11.1, Lessee, upon written notice from Lessor, shall at Lessee’s sole cost and expense resist or defend the same through counsel selected by Lessor. Lessor shall not be liable for any damage to or theft of any personal
property, goods, commodities 

 7 
  

 
or materials in or about the Premises. Lessee agrees that Lessor and Lessor’s agents, employees and servants shall not be liable, and Lessee waives all claims for damage to property and
business sustained during the term of this Lease Agreement by Lessee occurring in or about the Project, resulting directly or indirectly from any existing or future condition, defect, matter or thing in the Premises, the Project or any part thereof,
or from equipment or appurtenances becoming out of repair or from accident, or from any occurrence, act or omission of Lessor, Lessor’s agents, employees or servants, any tenant or occupant of the Project or any other person. 

11.2         The term “Lessor” as used in this Lease Agreement so far as
covenants or obligations on the part of Lessor are concerned shall be limited to mean and include only the owner or owners of the Project at the time in question, and in event of any transfer or conveyance the then grantor shall be automatically
freed and released from all personal liability accruing from and after the date of such transfer or conveyance as respects the performance of any covenant or obligation on the part of Lessor contained in this Lease Agreement to be performed, it
being intended hereby that the covenants and obligations contained in this Lease Agreement on the part of Lessor shall be binding on the then Lessor only during and in respect to its period of ownership. In the event of a sale or conveyance by
Lessor of the Project, the same shall operate to release Lessor from any future liability upon any of the covenants or conditions herein contained and in such event Lessee agrees to look solely to the responsibility of the successor in interest of
Lessor in and to this Lease Agreement. This Lease Agreement shall not be affected by any such sale or conveyance, and Lessee agrees to attorn to the purchaser or grantee, which purchaser or grantee shall be personally obligated on this Lease
Agreement only so long as it is the owner of Lessor’s interest in and to this Lease Agreement. Furthermore, Lessee agrees to look solely to Lessor’s interest in the Project for the recovery of any judgment from Lessor, it being agreed that
Lessor and each of its general partners shall never be personally liable for any such judgment. 
  

	12.	 EMINENT DOMAIN. 

If the entire Premises shall be taken, or if a substantial portion thereof shall be taken, which Lessor reasonably determines will
prevent Lessee from conducting its business under this Lease Agreement, by proper authority for public or quasi-public use, Lessee may terminate this Lease Agreement by giving Lessor written notice of such termination within two (2) months
after such taking and the rent shall abate during the unexpired portion of this Lease Agreement, effective from the date when possession of the part so taken shall be required for the use and purpose for which it has been taken. If only a part of
the Premises is so taken and the part not so taken shall be sufficient, in Lessor’s reasonable judgment, for the reasonable use of the remainder for the purpose of Lessee’s business under this Lease Agreement, this Lease Agreement shall
remain in full force and effect, except that the rent shall be reduced in proportion of Project square footage to which the Premises so taken bears to the Premises originally leased. All compensation awarded for any such taking shall belong to and
be the property of Lessor. 
  

	13.	 REPAIRS AND LESSOR’S INITIAL IMPROVEMENTS. 

13.1         Lessor shall make all necessary repairs to the exterior walls, roof,
structural components, plumbing, electrical wiring and air conditioning system of the Project of which the Premises are a part except exterior glass, windows and doors. Lessor also shall maintain and keep in good repair the exterior lighting,
parking areas, docks and sidewalks appurtenant to the Project. Notwithstanding anything to the contrary, any damage caused or permitted by Lessee, or by Lessee’s employees, agents or invitees, to the Premises or to the Project shall be repaired
by Lessee, or at Lessor’s election, Lessor may repair such damage at the expense of Lessee and Lessee shall promptly reimburse Lessor for such expense upon Lessor’s demand. 

 8 
  

 13.2         Lessee, at Lessee’s
expense, shall maintain and keep the Premises in as good order, condition and repair, including doors, windows and interior glass, as they were at the time Lessee took possession of the same, reasonable wear and tear excepted. Lessee shall keep the
Premises in a neat and sanitary condition. All repairs, restorations and replacements shall be in quality and class equal to the original work. 

13.3         Lessee agrees to notify Lessor promptly of any defective condition known to
Lessee which Lessor is required to repair, and the failure to report such defects shall make Lessee responsible to Lessor for any additional liability, cost or expense incurred by Lessor by reason of Lessee’s failure to notify Lessor of such
defect. Lessor shall be under no duty to inspect the Premises. 
 13.4         At its
sole cost and expense, Lessor shall undertake the improvements, alterations and additions to the Premises pursuant to the “Lessor’s Work” attached as Exhibit “B” hereto which shall govern with respect to the work to
be completed by the Lessor. 
  

	14.	 LESSEE’S INITIAL IMPROVEMENTS. 

At its sole cost and expense, Lessee shall undertake the improvements, alterations and additions to the Premises pursuant to the
“Lessee’s Work” attached as Exhibit “C” hereto which shall govern with regard to work to be completed by the Lessee. Except as set forth in paragraph 13.4 hereof, Lessor has no obligation and has made no promise to
alter, remodel, decorate, paint or otherwise improve the Premises or any part thereof. 
  

	15.	 LESSEE’S ALTERATIONS. 

In addition to the initial improvements provided for in paragraph 14 hereof, Lessee, at Lessee’s expense, may make such additional
alterations and improvements to the interior of the Premises as may be necessary or desirable for the conduct of the business of Lessee; provided, however, that Lessee shall make no alterations or improvements which may impair the structural
strength of the Project, which may affect the roof or the electrical, mechanical, plumbing or HVAC systems of the Project, or which may conflict with any existing provisions of any mortgages on or against the Premises; and, provided further, that
Lessee shall first obtain Lessor’s written consent for such alterations and improvements, which consent shall not be unreasonably withheld. Lessor may require, as a condition to consenting to such alterations and improvements, that the work be
done by Lessor’s own employees or under Lessor’s direction, but at the expense of Lessee, and Lessor also may require that Lessee give security (such as payment and performance bonds) that the work will be completed expeditiously, subject
to any delays beyond the control of Lessee, and in compliance with all laws and ordinances and all rules and regulations of any and all governmental authorities having jurisdiction of or over the Premises. All such alterations and improvements shall
be and remain the property of the Lessor and shall not be removed by Lessee at the termination of the term of this Lease Agreement, unless Lessor so directs in writing. Lessee, at the expense of Lessee, shall repair all damage to the Premises which
shall have been occasioned by the installation or removal of improvements or alterations. Lessor shall not be responsible or liable for any loss of, or damage to, Lessee’s improvements or alterations. 

 

	16.	 LIENS. 

If the Premises, or any part thereof, or Lessee’s leasehold interest therein, shall at any time during the term of the Lease
Agreement become subject to the lien of any vendor, mechanic, laborer or materialman based upon the furnishing of materials or labor to Lessee or the Premises and contracted for by Lessee, Lessee shall cause the same, at Lessee’s expense, to be
discharged within fifteen (15) days after notice thereof. 

 9 
  

	17.	 NUISANCE. 

17.1         Notwithstanding anything in this Lease Agreement to the contrary, including
without limitation the use by Lessee of the Premises in accordance with paragraph 5 hereunder, Lessee shall not commit or permit any nuisance or other act, whether noise, odor, smoke, sewerage, chemical waste or otherwise, which may disturb the
quiet enjoyment of any other tenants of Lessor in the Project. 
 17.2         Lessee
shall not obstruct or cause to be obstructed any public or private roadways, sidewalks or common areas appurtenant to the Project, or any parking areas or docking areas of other tenants of Lessor in the Project. In the event Lessee commits or
permits any nuisance or act set forth in this paragraph, the same shall be a material breach of this Lease Agreement. 
  

	18.	 ASSIGNMENT AND SUBLETTING. 

18.1         Lessee shall not voluntarily or by operation of law assign, transfer, mortgage
or encumber this Lease Agreement, or any interest therein, and shall not sublet the Premises or any part thereof or suffer any other person (other than the employees and agents of Lessee) to occupy or use the Premises or any portion thereof, without
obtaining Lessor’s prior written consent. Any attempted assignment, transfer, mortgage, encumbrance or subletting without such consent shall be void and shall constitute a breach of this Lease Agreement. 

18.2         Regardless of Lessor’s consent, no subletting or assignment shall release
Lessee from Lessee’s obligations or alter the primary liability of Lessee to pay the rent and to perform all other obligations to be performed by Lessee hereunder. The acceptance of rent by Lessor from any other person shall not be deemed a
waiver by Lessor of any provision hereof. Consent to one assignment or subletting shall not be deemed consent to any subsequent assignment or subletting. In the event of default by any assignee of Lessee or any successor of Lessee, in the
performance of any of the terms hereof, Lessor may proceed directly against Lessee without the necessity of exhausting remedies against said assignee. Lessor may consent to subsequent assignments or subletting of this Lease or amendments or
modifications to this Lease with assignees of Lessee, without notifying Lessee, or any successor of Lessee, and without obtaining its or their consent thereto and such action shall not relieve Lessee of liability under this Lease. 

18.3         In the event Lessee shall assign or sublet the Premises or request the consent
of Lessor to any assignment or subletting, or if Lessee shall request the consent of Lessor for any act Lessee proposes to do, the Lessee shall pay Lessor’s reasonable attorneys’ fees incurred in connection therewith. 

 

	19.	 SURRENDER OF PREMISES AND HOLDING OVER. 

19.1         Except as provided hereinafter, upon the expiration or earlier termination of
this Lease, Lessee shall quit and surrender the Premises, “broom-clean,” in good condition and repair (reasonable wear and tear excepted). If the Premises are not surrendered at the end of the Lease term, Lessee shall indemnify Lessor
against loss or liability resulting from delay by Lessee in so surrendering the Premises, including, without limitation, any claims made by any succeeding tenant based on such delay. 

19.2         If Lessee or any successor in interest of Lessee, should remain in possession
of the Premises after the expiration of the Lease term without executing a new lease, then such holding over shall be construed as a tenancy from month to month, subject to all the covenants, terms, provisions and obligations of this Lease except
Minimum Monthly Rent, which shall be subject to an automatic increase 

 10 
  

 
of twenty-five percent (25%), over and above the amount paid in the last full calendar month of the Lease term. Nothing contained herein shall be construed as Lessor’s permission for Lessee
to hold over. 
  

	20.	 DEFAULT. 

20.1         If Lessee fails to pay any rents when due within five (5) days of the due
date, or if Lessee commits a breach under paragraph 17 hereof, or if Lessee defaults in the performance of any other term or covenant of this Lease Agreement, and any such default is not cured within five (5) days after written notice thereof
from Lessor to Lessee, then, in any such event Lessor may, at Lessor’s option, terminate this Lease Agreement and/or re-enter the Premises and remove all persons and all or any property therefrom either
by summary dispossess proceedings or by any other suitable action or proceeding at law or by force or otherwise, without being guilty of trespass or liable to indictment, prosecution or damage therefor, and repossess and enjoy the Premises, together
with all improvements, additions, alterations, installations and fixtures, without such re-entry and repossession working a forfeiture or waiver of the rents to be paid and the covenants to be performed by
Lessee during the full term of this Lease Agreement, and upon such termination or re-entry, Lessee will quit and surrender the Premises to Lessor, but Lessee shall remain liable as hereinafter provided. Upon
termination of this Lease Agreement or expiration of Lessee’s right to occupy the Premises by reason of the happening of any of the foregoing events, or in any other manner or circumstances whatsoever, whether with or without legal proceedings,
by reason of or based upon or arising out of a default or breach of this Lease Agreement on the part of Lessee, or upon the happening of any default hereunder, Lessor may, at its option, at any time and from time to time, re-let the Premises or any part or parts thereof, for the account of Lessee or otherwise, and receive and collect the rent therefor, applying the same first to the payment of such expenses as Lessor may have
incurred in recovering possession of the Premises, including attorneys’ fees and expenses for putting the same into good order and condition or preparing or altering the same for re-rental to the extent Lessor deems necessary or desirable and
all other expenses, commissions and charges paid, assumed or incurred by Lessor in or about re-letting the Premises and then to the fulfillment of the covenants of Lessee hereunder. Any such re-letting herein provided for may be for the remainder of the term of this Lease Agreement, as originally granted, or for a longer or shorter period. Lessor shall have the right to change the character and use made
of the Premises, and Lessor shall not be required to accept any substitute tenant offered by Lessee or to observe any instructions given by Lessee up to the later of the time of such termination of this Lease Agreement or of such recovery of
possession of the Premises by Lessor, as the case may be, and thereafter, except in a case in which liability of Lessee as hereinafter provided arises by reason of the happening of the insolvency of Lessee, Lessee covenants and agrees, if required
by Lessor, to pay to Lessor until the end of the initial term of this Lease Agreement, and/or any renewal term, as the case may be, the equivalent of the amount of all rent reserved hereunder, and all other charges required to be paid by Lessee,
less the net proceeds of re-letting, if any. Lessor shall have the election in place of and instead of holding Lessee so liable forthwith to recover against Lessee as damages for loss of the bargain and not as a penalty, an aggregate sum which at
the time of such termination of this Lease Agreement or of such recovery of possession of the Premises by Lessor, as the case may be, represents the then present worth of the excess, if any, of the aggregate of the rent and all other charges payable
by Lessee hereunder that would have accrued for the balance of the initial term, and/or any renewal term, as the case may be, over the then present worth of the fair market rents and all other charges for the Premises for the balance of such term.
In addition, upon any default hereunder, Lessor shall have the right to exercise in connection therewith or separately any other rights or remedies provided by law. 

20.2         The rights and remedies of Lessor shall include, but are not limited to,
enforcement of any rights and privileges hereunder by mandatory injunction, restraining order or other equitable relief. In the event of re-entry by Lessor as hereinabove provided, Lessor shall not be or
become responsible for or incur any liability to Lessee or other persons for any personal property, goods, commodities or materials in or about the Premises at the time of re-entry, the Lessor may store or
dispose of such personal property, 

 11 
  

 
goods, commodities or materials at the expense of Lessee with payment therefore to be made by Lessee upon demand of Lessor. 

 

	21.	 INSOLVENCY. 

In addition to any other rights or remedies of Lessor hereunder, if Lessee, at any time during the term of this Lease Agreement, shall
be or become insolvent, or if Lessee shall compound Lessee’s debts or sign over Lessee’s estate or effects for payment thereof, or if any sheriff, marshal, constable or any other officer take possession of the Premises by virtue of any
execution or attachment, or if any receiver or trust is appointed of any property of Lessee, or in the event Lessee shall be adjudged bankrupt, then and in any such event it shall be lawful for Lessor at Lessor’s election to enter into and upon
the Premises, or any part thereof, and to have, hold and possess and enjoy the same as in the Lessor’s former estate, discharged from these presents, and this Lease Agreement shall thereupon be terminated, anything herein contained to the
contrary notwithstanding. 
  

	22.	 LEGAL EXPENSES. 

In the event of any suit instituted by either Lessor or Lessee against the other in any way connected with this Lease Agreement, or for
the recovery of rent or possession of the Premises, the successful party to any such action shall recover from the other party reasonable attorneys’ fees and Court costs in connection with said suit. 

 

	23.	 LESSOR’S RIGHT. 

In the event that Lessee does not pay before delinquent any taxes, assessments or other charges to be paid hereunder by Lessee, Lessor
shall have the right to make such payment and to thereupon charge Lessee for the amount of such payment, together with interest thereon from the date of such payment to the date of repayment by Lessee to Lessor at the rate of eighteen percent (18%),
per annum. 
  

	24.	 SUBORDINATION. 

24.1         This Lease Agreement and the estate granted hereby shall be subject and
subordinate to the lien of any mortgage or mortgages which now or hereafter may constitute a lien on the Premises, and to any agreements at any time made, modifying, supplementing, extending or renewing any such mortgages; provided, however, that
Lessor shall attempt to obtain from the mortgagee under any such mortgage an agreement in substance that, so long as Lessee shall not be in default in the terms of this Lease Agreement, this Lease Agreement and the estate hereby granted shall not be
terminated. The provisions for the subordination of this Lease Agreement and the estate hereby granted shall be self-operative and no further instruments shall be required to effect such subordination; provided, that the parties hereto shall, upon
request by any mortgagee at any time or times, execute and deliver any and all instruments that may be reasonably necessary or proper to effect such subordination or to confirm or evidence the same. 

24.2         Lessee shall at any time upon not less than ten (10) days prior written
notice from Lessor execute, acknowledge and deliver to Lessor a statement in writing: (a) certifying that this Lease Agreement is unmodified and in full force and effect (or, if modified stating the nature of such modification and certifying
that this Lease Agreement as so modified in full force and effect) and the date to which the rent and other charges are paid in advance, if any; (b) acknowledging that there are not any uncured defaults on the part of the Lessor hereunder, or
specifying such defaults if any are claimed. Any such statement may be conclusively relied upon by a prospective purchaser or encumbrancer of the Premises. Lessee’s failure to deliver such statement within such time shall be deemed
Lessee’s acknowledgment that: (i) This Lease Agreement is in full force and effect, without modification except as 

 12 
  

 
may be represented by Lessor; (ii) There are no uncured defaults in Lessor’s performance; and (iii) Not more than one month’s rent has been paid in advance. If Lessor desires
to sell, finance or refinance the Premises, or any part thereof, Lessee hereby agrees to deliver to any purchaser or lender designated by Lessor such financial statements of Lessee. All such financial statements shall be received by Lessor in
confidence and shall be used only for the purposes therein set forth. 
  

	25.	 SIGNS. 

No signs, advertisements or notices shall be placed by Lessee visible from the outside of the Project, whether walls, roofs, windows,
sidewalks, doors or otherwise, except such as shall first be approved in writing by Lessor, which approval may be given or withheld in Lessor’s sole discretion. If such approval by Lessor is given, such signs, advertisements or notices shall be
installed and maintained at Lessee’s expense and shall conform to all applicable governmental laws, rules and regulations. 
  

	26.	 PROJECT RULES. 

Lessee shall abide by all rules and regulations of the Project imposed by Lessor for the cleanliness, good appearance, proper
maintenance, good order and reasonable use of the Premises and the Project by all the tenants of the Project and their clients, customers and employees. The rules and regulations, a copy of which are attached hereto as Exhibit “D”
and made a part hereof, may be changed from time to time on reasonable notice to Lessee. A breach of Project rules and regulations shall be a material breach of this Lease Agreement. 

 

	27.	 RIGHT OF ENTRY. 

Lessor may, during the term of this Lease Agreement, at all reasonable times and during usual business hours, enter upon the Premises
for the purpose of inspection of same or for the purpose of showing same to prospective lenders and purchasers, and in addition, may, at any time within the last six (6) months of the term of this Lease Agreement show, the Premises to prospective
lessees. 
  

	28.	 SURRENDER. 

Upon the expiration of the term of this Lease Agreement, or upon the early termination of this Lease Agreement, Lessee shall surrender
up peaceable possession of the Premises in the same condition as the Premises are at the commencement of this Lease Agreement, reasonable wear and tear is excepted. 
  

	29.	 CERTAIN RIGHTS RESERVED BY LESSOR. 

Lessor reserves the following rights exercisable without notice and without liability to Lessee and without effecting an eviction,
constructive or actual, or disturbance of Lessee’s use or possession, or giving rise to any claim for set off or abatement of rent: (a) to control, install, affix and maintain any and all signs on the property, or on the exterior of the
Project and in the corridors, entrances and other common areas thereof, except those signs within the Premises not visible from outside the Premises; (b) to reasonably designate, limit, restrict and control any service in or to the Project,
including but not limited to the designation of sources from which Lessee may obtain sign painting and lettering; any restriction, designation, limitation or control imposed by reason of this subparagraph shall be imposed uniformly on Lessee and
other tenants occupying space in the Project; (c) to retain at all times and to use in appropriate instances keys to all doors within and into the Premises; no locks shall be changed without the prior written consent of Lessor; this provision
shall not apply to Lessee’s safes or other areas maintained by Lessee for the safety and security of monies, securities, negotiable instruments or like items; (d) to make repairs, improvements, alterations, additions or installations,
whether structural or 

 13 
  

 
otherwise, in and about the Project, or any part thereof, and for such purposes to enter upon the Premises, and during the continuation of any of said work, to temporarily close doors, entryways,
public spaces and corridors in the Project and to interrupt or temporarily suspend services and facilities; and (e) to approve the size and location of safes and other heavy equipment and articles in and about the Premises and the Project and
to require all such items to be moved into and out of the Project and the Premises only at such times and in such manner as Lessor shall direct in writing. 
  

	30.	 NOTICES. 

30.1        Any notice required or permitted to be given or served by either party to this Lease
Agreement shall be deemed to have been given or served when made in writing, by certified or registered mail, addressed as follows: 
  

			
	 LESSOR:
	 	 2611 S. Shannon Drive

		 	 Tempe, AZ 85282

		 	 Attn: Katy S. Kwong

		
	 LESSEE:
	 	 7303 30th Street SE

		 	 Calgary, AB

		 	 T2C1N6

		 	 Attn: Miles Nixon

 30.2         All rental payments shall be made to Lessor at
the above address. The addresses may be changed from time to time by either party by serving notice as above provided. All notices shall be effective if mailed as aforesaid on the second business day following deposit in the mail, or otherwise upon
actual receipt by the recipient. 
  

	31.	 DELAYS; DEFAULT BY LESSOR. 

31.1         Lessor shall not be responsible for any delay or failure in the observance or
performance of any term or condition of this Lease Agreement to be observed or performed by Lessor to the extent that such delay results from action or order of governmental authorities civil commotion, strikes, fires, acts of God or the public
enemy act or default of any tenant in the Project, the inability to procure labor, material, fuel, electricity, or other forms of energy or any other cause beyond the reasonable control of Lessor, whether or not similar to the matters herein
specifically enumerated. Any delay shall extend by like time any period of performance by Lessor and shall not be deemed a breach of or failure to perform this Lease Agreement or any provisions hereof. 

31.2         In the event of any default under this Lease Agreement by Lessor, Lessee,
before exercising any rights that it may have at law to cancel this Lease Agreement, shall have given written notice of such default to Lessor and shall have offered Lessor a reasonable opportunity to correct and cure the default. Lessee also agrees
to give the holders of any mortgages or deeds of trust (“mortgagees”) by registered mail, a copy of any notice of default served upon Lessor, provided that prior to such notice Lessee has been notified in writing (by way of Notice of
Assignment of Rents and Leases, or otherwise) of the addresses of such mortgagees. Lessee further agrees that if Lessor shall have failed to cure such default within the aforesaid time limit, then the mortgagees shall have an additional twenty
(20) days within which to cure such default or if such default cannot be cured within that time, then such additional time as may be necessary, if within such twenty (20) days any mortgagee has commenced and is diligently pursuing the
remedies necessary to cure such default (including but not limited to commencement of foreclosure proceedings if necessary to effect such cure) in which event this Lease Agreement shall not be terminated while such remedies are being so diligently
pursued. 

 14 
  

	32.	 PARKING. 

Lessee’s use of all parking areas shall be subject to any rules and regulations relating thereto included from time to time in the
Project Rules and Regulations, including regulations governing the designation of specific parking spaces for use by the Lessee and its guests and invites, the hours during which such parking spaces may be used, the size of such parking spaces, and
the traffic flow in the parking areas. Lessor shall not be responsible for any vandalism or other damages from any cause occurring to automobiles or their contents while located in such parking spaces or moving in the parking area. Lessee’s
parking rights are restricted to the designated parking spaces located on the East side of the building outside the gated area. 
  

	33.	 BROKERAGE COMMISSION. 

Each of the parties represents and warrants that there are no claims for brokerage commissions or finder’s fees in connection with
the execution of this Lease Agreement, and agrees to indemnify the other against, and hold it harmless from, all liabilities arising from any such claim (including, without limitation, the cost of counsel fees in connection therewith). 

 

	34.	 NO WAIVER. 

Any waiver by any of the parties hereto of any breach of this Lease Agreement, or of any right of any party, must be in writing, and in
any event shall not constitute a waiver of any other breach or of any other right. 
  

	35.	 ENTIRE AGREEMENT. 

This Lease Agreement contains the entire agreement between the parties hereto and no term or provision hereof may be changed, waived,
discharged or terminated unless the same be in writing executed by both parties hereto. 
  

	36.	 APPLICABLE LAW. 

The laws of Arizona shall govern the construction, performance and enforcement of this Lease Agreement. 

 

	37.	 TIME OF ESSENCE. 

Time shall be of the essence in the performance of every term, covenant and condition of this Lease Agreement. 

 

	38.	 HEADINGS. 

The paragraph headings contained herein are inserted only for convenience of reference and are in no way to be construed as a part of
this Lease Agreement or as a limitation on the scope of the particular paragraphs to which they refer. 
  

	39.	 BENEFITS. 

Subject to paragraph 18 hereof, this Lease Agreement shall inure to the benefit of and be binding upon the parties hereto and their
respective heirs, executors, administrators, legal representatives, successors and assigns. 

 15 
  

  

	40.	 SEVERABILITY. 

If any term or provision of this Lease Agreement shall, to any extent, be determined by a court of competent jurisdiction to be invalid
or unenforceable, the remainder of this Lease Agreement shall not be affected thereby, and each other term and provision of this Lease Agreement shall be valid and be enforceable to the fullest extend permitted by law. 

 

	41.	 ABANDONMENT. 

Lessee shall not vacate or abandon Premises at any time during the term of this Lease Agreement, nor permit the Premises to remain
unoccupied for a period longer than fifteen (15) consecutive days during the term of this Lease Agreement; and if Lessee shall abandon, vacate or surrender the Premises, or be dispossessed by process of law, or otherwise, any personal property
belonging to Lessee and left on the Premises shall be deemed abandoned. 
  

	42.	 LESSEE AUTHORITY. 

Lessee shall furnish to Lessor a corporate resolution, proof of due authorization of partners, or other appropriate documentation
reasonably requested by Lessor evidencing the due authorization of Lessee to enter into this Lease Agreement. 
  

	43.	 PORTABLE RAMPS. 

43.1         Located within the Premises is an existing portable ramp (the “Existing
Ramp”). Lessee shall have the right to use the ramp during the term of the Lease. Lessor makes no representation or warranty concerning the condition or usability of the Existing Ramp and Lessee acknowledges the same is being delivered in
“AS IS” condition without any representation or warranty as to suitability or fitness for its intended use. Lessee hereby releases and discharges Lessor from any liability or damage arising out of the use of the Existing Ramp. Lessee
hereby indemnifies and holds Lessor harmless from any loss, cost, liability or damage incurred by Lessor arising out of or in connection with the use of the Existing Ramp during the term of this Lease. 

43.2         Lessee intends to fabricate and position an additional portable ramp for use
with the Premises to access the fourteen foot (14’) overhead door on the east end of the Premises (the “New Ramp”). The cost of the New Ramp will be borne by Lessee and remain the property of Lessee. Lessee shall remove the New Ramp
from the Premises at the expiration of the Lease and shall restore any damage to the Premises caused by the installation and/or removal of the New Ramp. 

IN WITNESS WHEREOF, the parties have executed this Lease Agreement as of the day and year first above written. 

 

									
	 LESSOR:
	  		  	 LESSEE:

			
	 MAJIK VENTURES, L.L.C.,
	  		  	 DIRTT ENVIRONMENTAL SOLUTIONS, INC.,

	 an Arizona limited liability company
	  		  	 a Colorado corporation

					
	 By:
	 	 /s/ Katy S. Kwong
	  	             
	  	 By:
	 	 /s/ Miles Nixon

		 	  
	  		  		 	  

		 	 Katy S. Kwong
	  		  		 	 Miles Nixon

	 Its:
	 	  Manager
	  		  	 Its:
	 	  Authorized Representative

 EXHIBIT “A” 

THE PREMISES 
  

 
 

 

 EXHIBIT “B” 

LESSOR’S WORK 
  

	1.	 Lighting and HVAC Controls.   Current light and evaporative coolers should be in good working
condition. (Moves, modifications of control systems required to allow separate control in tenant space, including evaporative cooler control move. Lessor will pay an aggregate of Four Thousand andNo/100 Dollars ($4,000.00) or fifty percent (50%) of
the cost, whichever is more, with the balance payable by Lessee within ten (10) days of invoice. 

  

	2.	 Security System Modifications.   Security system modifications necessary to split system between
adjoining spaces, Lessor will pay for the wireless system upgrade and costs for participation programming that is not covered by installation and programming and testing of new keypad. Access card control to be added (at Lessee’s request and
expense). 

 EXHIBIT “C” 

LESSEE’S WORK 
  

	1.	 Lessee to select, purchase, and install a chain link fence at its sole cost and expense. 

	2.	 Lessee to purchase any additional key pad or equipment for Lessee to gain control of the security/alarm system for the
Premises. Cost to program and install new keypad is about $600 + tax for Lessee’s portion. Monthly monitor fee is $38.95 with Bonds. Cost to be shared as follows: Lessor 50% and Lessee 50%. If additional monitoring services are required by
Lessee (e.g. text notification or remote access), the cost of the same will be payable by Lessee within ten (10) days of invoice. 

	3.	 Lighting and evaporative cooler controls will be modified to allow control of lights and evaporative coolers from the
Lessee’s leased space. Such work shall be included in the scope of work described in paragraph 1 of Exhibit “B” hereto and the costs of said work shall be shared between Lessor and Lessee as provided in paragraph 1 of
Exhibit “B”. 

	4.	 Refresh washrooms. (Lessor will move all the items on top of the bathroom by June 15, 2015.)

	5.	 Potential lighting upgrade. 

	6.	 Installation of automated OH door operators. 

	7.	 Installation of racking system (mechanically fastened to floor of warehouse). Tenant must put back floor to smooth
finish when move out. 

	8.	 Demising wall (or fenced partition) along column line G. Supply and install, utilizing a chain link fence installed
along column line G the full depth of the building (200’). Lessee to select, purchase and install the chain link fence. 

	9.	 Portable Steel Ramp. Lessee’s option to install portable steel ramp to be utilized at the 14 foot wide OH door
located on the East wall with Lessor’s approval on size, location and design. 

 EXHIBIT “D” 

PROJECT RULES AND REGULATIONS 

1.         Any sign, lettering, picture, notice or advertisement installed on or in any
part of the leased premises and visible from the exterior of the Project, or visible from the exterior of the Premises, shall be installed at Lessee’s sole cost and expense, and in such manner, character and style as Lessor may approve in
writing. In the event of a violation of the foregoing by Lessee, Lessor may remove the same without any liability and may charge the expense incurred by such removal to Lessee. 

2.         No awning or other projection shall be attached to the outside walls of the
Project. No curtains, blinds, shades or screens visible from the exterior of the Project or visible from the exterior of the Premises, 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 Lessor. Such curtains, blinds, shades, screens or other fixtures must be of a quality, type, design and color, and attached in a manner approved by Lessor. 

3.         Lessee, its servants, employees, customers, invitees and guests shall not
obstruct sidewalks, entrances, passages, corridors, vestibules, halls, in and about the Project which are used in common with other tenants and their servants, employees, customers, guests and invitees, and which are not a part of the Premises of
Lessee. Lessee shall not place objects against glass partitions or doors or windows which would be unsightly from the exterior of the Project, and will promptly remove any such objects upon notice from Lessor. 

4.         Lessee shall not make excessive noises, cause disturbances or vibrations or use
or operate any electrical or mechanical devices that emit excessive sound or other waves or disturbances or create obnoxious odors any of which may be offensive to the other tenants and occupants of the Project, or that would interfere with the
operation of any device, equipment, radio, television broadcasting or reception from or within the Project or elsewhere and shall not place or install any projections, antennas, aerials or similar devices inside or outside of the Premises or on the
Project. 
 5.         Lessee shall not waste electricity, water or air conditioning and
shall cooperate fully with Lessor it insure the most efficient operation of the Project’s heating and air conditioning systems. 

6.         Lessee assumes full responsibility for protecting its space from theft, robbery
and pilferage, which includes keeping doors locked and other means of entry to the Premises closed and secured after normal business hours. 

7.         In no event shall Lessee bring into the Project inflammables, such as gasoline,
kerosene, naphtha or benzene or explosives or any other article of intrinsically dangerous nature. If, by reason of the failure of the Lessee to comply with the provisions or this subparagraph, any insurance premium for all or any part of the
Project shall at any time increased, Lessee shall make immediate payment of the whole of the increased insurance premium, without waiver of any Lessor’s other rights at law or in equity for Lessee’s breach of the Agreement. 

8.         Lessee shall comply with all applicable federal, state and municipal laws,
ordinances and regulations, and Project Rules and shall not directly or indirectly make any use of the Premises which may be prohibited by any of the foregoing or which may be dangerous to persons or property or may increase the cost of insurance or
require additional insurance coverage. 
 9.         Lessor shall have the right to
prohibit any advertising by Lessee which in Lessor’s reasonable opinion tends to impair the reputation or character of the Project, and upon written notice from Lessor, Lessee shall refrain from or discontinue such advertising. 

 10.         The Premises shall not be
used for cooking (as opposed to heating of food), lodging, sleeping or for any immoral or illegal purpose. 

11.         Any carpeting cemented down by Lessee shall be installed with a releasable
adhesive. In the event of a violation of the foregoing by Lessee, Lessor may charge the expense incurred by such removal to Lessee. 

12.         The water and wash closets, drinking fountains and other plumbing fixtures
shall not be used for any purpose other than those for which they were constructed, and no sweepings, rubbish, rags, coffee grounds, or other substances shall be thrown therein. All damages resulting from any misuse of the fixtures shall be borne by
the Lessee who or whose servants, employees, agents, visitors, or licensees, shall have caused same. No person shall waste water by interfering with the faucets or otherwise. 

13.         No electric circuit for any purpose shall be brought into the Premises without
Lessor’s written permission specifying the manner in which same may be done. 

14.         Lessor may limit the weight, size and position of all safes, fixtures and other
equipment or machinery used in the Premises. In the event Lessee shall require extra heavy equipment or machinery, Lessee shall notify Lessor of such fact, and shall pay the cost of structural bracing to accommodate same. All damage done to the
Premises or Project by installing, removing or maintaining extra heavy equipment or machinery shall be repaired at the expense of the Lessee. 

15.         Canvassing, soliciting and peddling in the Project is prohibited and each
tenant of the Project shall cooperate to prevent the same. 
 16.         Lessee shall
not mark, drive nails, screw or drill into, paint or in any way deface the exterior walls, roof, foundations, bearing walls or pillars without the prior written consent of Lessor. No boring or cutting for wires shall be allowed, except with the
prior written consent of Lessor. 
 17.         Lessee, its servants, employees,
customers, invitees and guests shall, when using the common parking facilities in and around the Project observe and obey all signs regarding fire lanes and no parking zones, and when parking always park between the designated lines. Lessor reserves
the right to tow away, at the expense of the owner, any vehicles which are improperly parked or parked in a no parking zone. All vehicles shall be parked at the sole risk of the owner, and Lessor assumes no responsibility for any damage to or loss
of vehicles. No vehicles shall be parked overnight. 
 18.         Wherever in these
Project Rules and Regulations the word “Lessee” occurs, it is understood and agreed that it shall mean Lessee’s associates, agents, clerks, servants and visitors. Wherever the word “Lessor” occurs, it is understood and
agreed that it shall mean Lessor’s assigns, agents, clerks, servants, and visitors. 

19.         Lessor reserves the right at any time to change or rescind any one or more of
these rules and regulations as in Lessor’s judgment may from time to time may be necessary for the management, safety, care and cleanliness of the Project. Lessor shall not be responsible to Lessee or to any other person for the non-observance or violation of these rules and regulations by any other Lessee or other person. 

 GUARANTY 

This Guaranty (the “Guaranty”) is made by DIRTT Environmental Solutions Ltd. (“Guarantor”) for the
benefit of CAM Investment 352 LLC (“Lessor”). This Guaranty is made with reference to the following: 

A.          Lessor and DIRTT Environmental Solutions, Inc., a Colorado corporation
(“Lessee”) are parties to that certain Commercial Lease (Triple Net) dated July 1, 2015, as amended by that certain First Amendment to Lease dated on or about the date hereof (the “First Amendment”, and
collectively, the “Lease”) with respect to certain premises more particularly described in the Lease (the “Premises”). 

B.          This Guaranty is being made as a material inducement to Lessor to enter
into the First Amendment and Lessor would not enter into the First Amendment without the execution of this Guaranty by Guarantor. 

NOW, THEREFORE, in exchange for good, adequate and valuable consideration, the receipt of which Guarantor acknowledges, and to induce
Lessor to enter into the Lease, Guarantor agrees as follows: 

1.           Definitions. Any terms defined in the Lease shall have the
same meanings in this Guaranty, except to the extent that this Guaranty defines such terms differently. 

1.1         “Lessee” means: (a) Lessee as defined above, acting on
its own behalf; (b) any estate created by the commencement of a bankruptcy or similar proceeding affecting Lessee; (c) any trustee, liquidator, sequestrator or receiver of Lessee or Lessee’s property; (d) any similar person or
officer, appointed pursuant to any law governing any bankruptcy or insolvency proceeding or otherwise; and (e) any direct or indirect assignee of Lessee’s estate under the Lease. 

1.2         “Obligations” means all obligations of Lessee under the Lease
(as defined in Section 1.3, below), including, without limitation: (a) the obligation to pay fixed rent; (b) the obligation to make all payments required under the Lease on account of taxes, operating expenses, indemnifications made
by Lessee under the Lease, and all other matters; and (c) all other payment and performance required of Lessee under the Lease. The Obligations shall be determined without regard to any modification or reduction of the Obligations that may
occur pursuant to any bankruptcy, insolvency, or similar proceeding affecting Lessee. Without limiting the generality of the preceding sentence, the Obligations shall be determined, measured and calculated without taking into account any reduction
or limitation thereof that may occur under Section 502(b)(6) of the United States Bankruptcy Code, or any similar or successor statute. Guarantor’s liability for the Obligations shall be determined as if no such reduction or limitation had
occurred. Therefore, Guarantor’s liability may exceed Lessee’s. 

1.3         “Lease” means: (a) the Lease and any renewal,
modification, option, extension or assignment of the Lease (whether or not separately consented to, acknowledged or confirmed by Guarantor); and (b) Lessee’s obligations relating to the Premises during any period when Lessee is occupying
the Premises or any portion thereof either (i) as a “holdover Lessee” or (ii) as a “statutory Lessee” or under any other rent regulation, rent control, rent stabilization, mandatory arbitration or other statutory scheme
regulating the Lessor-Lessee relationship (the parties recognizing, however, that none of the schemes referred to in this clause “ii” would presently apply to the Lease). If Lessor has terminated the Lease, then at Lessor’s option,
notwithstanding such termination (and in the event of any subsequent reinstatement of the Lease), all Obligations under this Guaranty shall be calculated and determined as if the Lease were still in effect. Any request by Lessor that Lessee vacate
the Premises and surrender the Lease shall not affect the definition of “Lease” for all purposes of this Guaranty. 

2.           Guaranty of Obligations. Guarantor, hereby unconditionally
and irrevocably guarantees the complete and timely performance of each of the Obligations. This Guaranty is an absolute, primary, 

  
 1 

 
and continuing, guaranty of payment and performance and is independent of Lessee’s obligations under the Lease. Guarantor shall be primarily liable, jointly and severally, with Lessee and
any other guarantor of the Obligations. Guarantor waives any right to require Lessor to (a) join Lessee with Guarantor in any suit arising under this Guaranty, (b) proceed against or exhaust any security given to secure Lessee’s
obligations under the Lease, or (c) pursue or exhaust any other remedy in Lessor’s power. Until all of the Obligations have been discharged in full, Guarantor shall have no right of subrogation against Lessee. Lessor may, without notice or
demand and without affecting Guarantor’s liability hereunder, from time to time, compromise, extend or otherwise modify any or all of the terms of the Lease, or fail to perfect, or fail to continue the perfection of, any security interests
granted under the Lease. Without limiting the generality of the foregoing, if Lessee elects to increase the size of the Premises, extend the term of the Lease, or otherwise expand the Obligations, Lessee’s execution of such lease documentation
shall constitute Guarantor’s consent thereto (and such increased Obligations shall constitute guaranteed Obligations hereunder); Guarantor hereby waives any and all rights to consent thereto. Guarantor waives any right to participate in any
security now or hereafter held by Lessor. Guarantor hereby waives all presentments, demands for performance, notices of nonperformance, protests, notices of protest, dishonor and notices of acceptance of this Guaranty, and waives all notices of
existence, creation or incurring of new or additional obligations from Lessee to Lessor. Guarantor further waives all defenses afforded guarantors or based on suretyship or impairment of collateral under applicable law, other than payment and
performance in full of the Obligations. The liability of Guarantor under this Guaranty will not be affected by (1) the release or discharge of Lessee from, or impairment, limitation or modification of, Lessee’s obligations under the Lease
in any bankruptcy, receivership, or other debtor relief proceeding, whether state or federal and whether voluntary or involuntary; (2) the rejection or disaffirmance of the Lease in any such proceeding; or (3) the cessation from any cause
whatsoever of the liability of Lessee under the Lease. The obligations of Lessee under the Lease to execute and deliver estoppel statements, as therein provided, shall be deemed to also require the Guarantor hereunder to do so and provide the same
relative to Guarantor following written request by Lessor in accordance with the terms of the Lease. This Guaranty shall be binding upon the heirs, legal representatives, successors and assigns of Guarantor and shall inure to the benefit of
Lessor’s successors and assigns. 
 3.           Waiver of Jury
Trial. GUARANTOR IRREVOCABLY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, COUNTERCLAIM OR OTHER LITIGATION ARISING OUT OF OR RELATING TO THIS GUARANTY, THE ENFORCEMENT OF THIS GUARANTY, OR ANY ACTIONS OF LESSOR IN CONNECTION WITH
OR RELATING TO THE ENFORCEMENT OF THIS GUARANTY. 

4.           Lessor’s Costs. Guarantor shall pay to Lessor all costs
incurred by Lessor in enforcing this Guaranty (including, without limitation, reasonable attorneys’ fees and expenses). 

5.           Notices. All notices and other communications given pursuant
to, or in connection with, this Guaranty shall be delivered in the same manner required in the Lease. All notices or other communications addressed to Guarantor shall be delivered at the address set forth below. 

6.           Lessee’s Financial Condition. Guarantor represents that
Guarantor is fully aware of the financial condition of Lessee. Guarantor delivers this Guaranty based solely upon Guarantor’s own independent investigation and based in no part upon any representation or statement by Lessor. Guarantor is not
relying upon, nor expecting, Lessor to furnish Guarantor with any information concerning the financial condition of Lessee. 

7.           No Third-Party Beneficiaries. This Guaranty is executed and
delivered for the benefit of Lessor and its successors and assigns, and is not intended to benefit any third party. 

  
 2 

8.           Interpretation. This Guaranty shall be governed under the law
of the State in which the Premises is located. Guarantor represents and warrants that the recitals of this Guaranty are true and correct. 

9.           ENTIRE AGREEMENT. THIS GUARANTY CONTAINS THE ENTIRE
AGREEMENT AMONG THE PARTIES WITH RESPECT TO THE MATTERS SET FORTH IN THIS GUARANTY. THIS GUARANTY SUPERSEDES ANY AND ALL PRIOR WRITTEN, ORAL OR IMPLIED UNDERSTANDINGS OR AGREEMENTS AMONG THE PARTIES WITH RESPECT TO THE MATTERS SET FORTH IN THIS
GUARANTY. THE PARTIES UNDERSTAND AND AGREE THAT THEY ARE NOT RELYING UPON ANY REPRESENTATIONS AND/OR WARRANTIES NOT EXPRESSLY CONTAINED WITHIN THIS GUARANTY OR THE LEASE AND THAT NO SUCH EXTRA- CONTRACTUAL REPRESENTATIONS HAVE BEEN MADE. NO COURSE
OF PRIOR DEALINGS AMONG THE PARTIES, NO USAGE OF TRADE, AND NO PAROL OR EXTRINSIC EVIDENCE OF ANY NATURE SHALL BE USED TO SUPPLEMENT, MODIFY OR VARY ANY TERMS OF THIS GUARANTY. THE PARTIES AGREE THAT THEY HAVE HAD AN OPPORTUNITY AND HAVE BEEN
ADVISED TO CONSULT WITH INDEPENDENT LEGAL COUNSEL BEFORE ENTERING INTO THIS GUARANTY AND THAT IN ENTERING INTO THIS GUARANTY THEY ARE NOT RELYING ON ANY PROMISE, WHETHER EXPRESS OR IMPLIED, AS AN INDUCEMENT OR REASON TO ENTER INTO THIS GUARANTY. NO
TERMS OR PROVISIONS OF THIS GUARANTY MAY BE CHANGED, WAIVED, REVOKED OR AMENDED WITHOUT LESSOR’S PRIOR WRITTEN CONSENT. IF ANY COURT OF COMPETENT JURISDICTION DETERMINES THAT ANY PROVISION OF THIS GUARANTY IS UNENFORCEABLE, THEN ALL OTHER
PROVISIONS OF THIS GUARANTY SHALL REMAIN FULLY EFFECTIVE. 
  

							
	

	 	 GUARANTOR’S INITIALS
	  	

	 	 LESSOR’S INITIALS

 ALL OTHER REPRESENTATIONS OR AGREEMENTS NOT CONTAINED HEREIN ARE SET FORTH BELOW. IF THERE ARE NO OTHER REPRESENTATIONS OR
AGREEMENTS, INSERT “NONE”. 

                           
                                         
             

                           
                                         
             

                           
                                         
             
  

							
	

	 	 GUARANTOR’S INITIALS
	  	

	 	 LESSOR’S INITIALS

  
 [Remainder of page
intentionally left blank] 

  
 3 

 10.           Authority.
If Guarantor is a corporation, a trust, a limited liability company, a partnership, or similar entity, each individual executing this Guaranty on behalf of such entity represents and warrants that he or she is duly authorized to execute and deliver
this Guaranty on its behalf. Guarantor shall, within thirty (30) days after request, deliver to Lessor satisfactory evidence of such authority. 
  

			
	 Executed at:         Calgary,
AB                                    

	 Date:     May 11,
2017                                         
        

					
		
	By GUARANTOR:	 	/s/ Scott Jenkins

			
	
	             DIRTT ENVIRONMENTAL SOLUTIONS
LTD.

	
By:                        
                                         
               

	 Name Printed:         Scott
Jenkins                                

	 Title:
            President                           
                      

	 Address:         7303-30 St.
SE                                      

	
                    Calgary, AB
T2C1N6                                

	 Telephone (    )
403.723.5000                                      

	 Facsimile
(    )                                    
                           

	 Federal ID
No.                                        
                      

  
 4EX-10.28

 Exhibit 10.28 

SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE SUCH TERMS ARE BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE
COMPANY IF PUBLICLY DISCLOSED. THESE REDACTED TERMS HAVE BEEN MARKED IN THIS EXHIBIT WITH THREE ASTERISKS [***]. 
 INDUSTRIAL LEASE
AGREEMENT 
 BETWEEN 
 141
KNOWLTON WAY, LLC 
 AS LANDLORD 

AND 
 DIRTT ENVIRONMENTAL
SOLUTIONS, INC. 
 AS TENANT 

 LEASE INDEX 
  

							
		 	 	Section	 	  	 Subject

			
		 	 	  1	 	  	 Basic Lease Provisions

			
		 	 	  2	 	  	 Demised Premises

			
		 	 	  3	 	  	 Term

			
		 	 	  4	 	  	 Base Rent

			
		 	 	  5	 	  	 Security Deposit

			
		 	 	  6	 	  	 Operating Expenses and Additional Rent

			
		 	 	  7	 	  	 Use of Demised Premises

			
		 	 	  8	 	  	 Insurance

			
		 	 	  9	 	  	 Utilities

			
		 	 	10	 	  	 Maintenance and Repairs

			
		 	 	11	 	  	 Tenant’s Personal Property; Indemnity

			
		 	 	12	 	  	 Tenant’s Fixtures

			
		 	 	13	 	  	 Signs

			
		 	 	14	 	  	 Intentionally Deleted

			
		 	 	15	 	  	 Governmental Regulations

			
		 	 	16	 	  	 Environmental Matters

			
		 	 	17	 	  	 Construction of Demised Premises

			
		 	 	18	 	  	 Tenant Alterations and Additions

			
		 	 	19	 	  	 Services by Landlord

			
		 	 	20	 	  	 Fire and Other Casualty

			
		 	 	21	 	  	 Condemnation

			
		 	 	22	 	  	 Tenant’s Default

			
		 	 	23	 	  	 Landlord’s Right of Entry

			
		 	 	24	 	  	 Lender’s Rights

			
		 	 	25	 	  	 Estoppel Certificate and Financial Statement

			
		 	 	26	 	  	 Landlord’s Liability

			
		 	 	27	 	  	 Notices

			
		 	 	28	 	  	 Brokers

			
		 	 	29	 	  	 Assignment and Subleasing

			
		 	 	30	 	  	 Termination or Expiration

			
		 	 	31	 	  	 Intentionally Deleted

			
		 	 	32	 	  	 Late Payments

			
		 	 	33	 	  	 Rules and Regulations

			
		 	 	34	 	  	 Quiet Enjoyment

			
		 	 	35	 	  	 Miscellaneous

			
		 	 	36	 	  	 Special Stipulations

			
		 	 	37	 	  	 Lease Date

			
		 	 	38	 	  	 Authority

			
		 	 	39	 	  	 No Offer Until Executed

             Exhibit “A”  Demised Premises 

            Exhibit “B”  Preliminary Plans and Specifications 

            Exhibit “C”  Special Stipulations 

            Exhibit “D”  Rules and Regulations 

            Exhibit “E”  Certificate of Authority 

            Exhibit “F”  Form of Guaranty 

 INDUSTRIAL LEASE AGREEMENT 

THIS LEASE AGREEMENT (the “Lease”) is made as of the “Lease Date” (as defined in Section 37 herein)
by and between 141 KNOWLTON WAY, LLC, a Delaware limited liability company (“Landlord”), and DIRTT ENVIRONMENTAL SOLUTIONS, INC., a Colorado corporation (“Tenant”) (the words “Landlord” and “Tenant” to include
their respective legal representatives, successors and permitted assigns where the context requires or permits). 

W I T N E S S E T H: 

  1.            Basic Lease Provisions. The
following constitute the basic provisions of this Lease: 
  

							
	 (a)
	  	 Demised Premises Address:
	 	 155 Knowlton Way, Suite 100
Savannah, Georgia 31407
	 	
				
	 (b)
	  	 Demised Premises Square Footage:
	 	 approximately [***] sq. ft.
	 	
			
	 (c)
	  	 Building Square Footage: approximately [***] sq. ft.
	 	
				
	 (d)
	  	 Annual Base Rent:
	 		 	

  

									
	 Lease Year 1
	 	 	$[***]	 	  	 (plus the prorated amount for any
Fractional Month per Section 3
hereof, if applicable)
	  	
				
	 Lease Year 2
	 	 	$[***]	 	  		  	
				
	 Lease Year 3
	 	 	$[***]	 	  		  	
				
	 Lease Year 4
	 	 	$[***]	 	  		  	
				
	 Lease Year 5
	 	 	$[***]	 	  		  	
				
	 Lease Year 6
	 	 	$[***]	 	  		  	
				
	 Lease Year 7
	 	 	$[***]	 	  		  	
				
	 Lease Year 8
	 	 	$[***]	 	  		  	
				
	 Lease Year 9
	 	 	$[***]	 	  		  	
				
	 Lease Year 10
	 	 	$[***]	 	  		  	

  

							
	 (e)
	  	 Monthly Base Rent Installments (exclusive of applicable sales taxes):
	 	

  

									
	 Lease Year 1 Month 1 Months 2-13
	 	 
 
 
	    
 $[***]

$[***]
	 
  
  
	  	 (plus the prorated amount for any
Fractional Month per Section 3
hereof, if applicable)
	  	
				
	 Lease Year 2 Months 14-25
	 	 	$[***]	 	  		  	
				
	 Lease Year 3 Months 26-37
	 	 	$[***]	 	  		  	
				
	 Lease Year 4 Months 38-49
	 	 	$[***]	 	  		  	
				
	 Lease Year 5 Months 50-61
	 	 	$[***]	 	  		  	
				
	 Lease Year 6 Months 62-73
	 	 	$[***]	 	  		  	
				
	 Lease Year 7 Months 74-85
	 	 	$[***]	 	  		  	
				
	 Lease Year 8 Months 86-97
	 	 	$[***]	 	  		  	

									
	 Lease Year 9 Mos. 98-109
	 	 	$[***]	 	  		  	
				
	 Lease Year 10 Mos. 110-121
	 	 	$[***]	 	  		  	

  

							
	 (f)
	  	 Lease Commencement Date:
	 	 February 1, 2009, or any earlier date upon which Tenant commences business operations from the Demised
Premises
	 	
				
	 (g)
	  	 Base Rent Commencement Date:
	 	 March 1, 2009
	 	
				
	 (h)
	  	 Expiration Date:
	 	 February 28, 2019
	 	
			
	 (i)
	  	 Primary Term:    One hundred
twenty-one (121) months plus, in the event the Base Rent Commencement Date does not occur on the first (1st) day of a calendar month, the period from and including the Base Rent Commencement Date to and
including the last day of the calendar month in which the Base Rent Commencement Date occurs (if applicable, the “Fractional Month”)
	 	
				
	 (j)
	  	 Tenant’s Operating Expense Percentage:
	 	 [***]%
	 	
			
	 (k)
	  	 Security Deposit:   $67,365.00 (Cash Security
Deposit)

             $300,000.00
(Letter of Credit)
	 	
			
	 (1)
	  	 Permitted Use: General showroom, manufacturing, assembly
and distribution of agile architectural solutions and office and administrative uses reasonably ancillary thereto (collectively, the “General Use”) and a cafeteria and fitness center if and only to the extent such uses are allowed under
applicable laws, ordinances, zoning regulations and protective covenants affecting the Project and Tenant has obtained all necessary permits for such uses.
	 	
				
	 (m)
	  	 Address for notice:
	 		 	
			
		  	
Landlord:          141 Knowlton Way,
LLC
 c/o IDI Services Group, LLC

3424 Peachtree Road, N.E., Suite 1500

Atlanta, Georgia 30326

Attn: Manager - Lease Administration

Facsimile: (404) 479-4115
	 	
			
		  	
Tenant:            DIRTT
Environmental Solutions, Inc.
 7303 – 30th
Street S.E.
 Calgary AB T2C 1N6

CANADA

Attn: Chief Financial Officer

Facsimile: 

Email: 
	 	
			
	 (n)
	  	 Address for rental payments:

 
 141 Knowlton Way,
LLC
 c/o IDI Services Group, LLC

3424 Peachtree Road, N.E., Suite 1500

Atlanta, Georgia 30326
	 	
			
	 (o)
	  	
Broker(s):           CB Richard
Ellis (Tenant)
 Neely Dales LLC (Landlord)
	 	

  2.            Demised Premises. For and in
consideration of the rent hereinafter reserved and the mutual covenants hereinafter contained, Landlord does hereby lease and demise unto Tenant, and Tenant does hereby hire, lease and accept, from Landlord all upon the terms and conditions
hereinafter set forth the following premises, referred to as the “Demised Premises”, as outlined on Exhibit A attached hereto and incorporated herein: an agreed upon approximately [***] square feet of space, approximately [***]
square feet of which is office space, having an address as set forth in Section 1(a), located within the building located at 155 Knowlton Way, Savannah, Georgia 31407 (the “Building”), which contains a total of an agreed upon
approximately [***] square feet and is located within Crossroads Business Center (the “Project”), located in Chatham County, Georgia. The parties acknowledge that the number of square feet recited above has been conclusively determined and
is not subject to contest by either party. 

  
 -2- 

  3.            Term. To have and to hold the
Demised Premises for a preliminary term (the “Preliminary Term”) commencing on the Lease Date and ending on the day immediately preceding the Lease Commencement Date as set forth in Section 1(f), and a primary term (the “Primary
Term”) commencing on the Lease Commencement Date and terminating on the Expiration Date as set forth in Section 1(h), as the Lease Commencement Date and the Expiration Date may be revised pursuant to Section 17 (the Preliminary Term,
the Primary Term, and any and all extensions thereof, herein referred to as the “Term”). The term “Lease Year”, as used in this Lease, shall mean the 12-month period commencing on the Base
Rent Commencement Date, and each 12-month period thereafter during the Term; provided, however, that (i) if the Base Rent Commencement Date occurs after the Lease Commencement Date, the first Lease
Year will include the period between the Lease Commencement Date and the Base Rent Commencement Date, and (ii) if the Base Rent Commencement Date is a day other than the first day of a calendar month, the first Lease Year shall include the
resulting Fractional Month and shall extend through the end of the twelfth (12th) full calendar month following the Base Rent Commencement Date. 

  4.            Base Rent. Tenant shall pay to
Landlord at the address set forth in Section 1(n), as base rent for the Demised Premises, commencing on the Base Rent Commencement Date and continuing throughout the Term in lawful money of the United States, the annual amount set forth in
Section 1(d) payable in equal monthly installments as set forth in Section 1(e) (the “Base Rent”), payable in advance, without demand and without abatement, reduction, set-off or deduction,
on the first day of each calendar month during the Term; provided, however, that the first month’s Base Rent shall be paid to Landlord upon Tenant’s execution of this Lease. If the Base Rent Commencement Date shall fall on a
day other than the first day of a calendar month, the Base Rent shall be apportioned pro rata on a per diem basis for the resulting Fractional Month (which pro rata payment shall be due and payable on the Base Rent Commencement Date). No payment by
Tenant or receipt by Landlord of rent hereunder shall be deemed to be other than on account of the amount due, and no endorsement or statement on any check or any letter accompanying any check or payment of rent shall be deemed an accord and
satisfaction, and Landlord may accept such check as payment without prejudice to Landlord’s right to recover the balance of such installment or payment of rent or pursue any other remedies available to Landlord. 

  5.            Security Deposit. 

(a)            Upon Tenant’s execution of this Lease, Tenant
will (i) pay to Landlord in cash the sum set forth in Section 1(k) (the “Cash Security Deposit”) and (ii) deliver to Landlord an irrevocable letter of credit in the amount set forth in Section 1(k) from a financial
institution and in a form reasonably acceptable to Landlord (the “Letter of Credit”) as security for the full and faithful performance by Tenant of each and every term, covenant and condition of this Lease, (the Cash Security Deposit and
the Letter of Credit are hereinafter collectively referred to as the “Security Deposit”). 

(b)            Except as otherwise provided in this
Section 5(b), Tenant shall cause the Letter of Credit to be maintained in full force and effect throughout the Term, as may be extended, and during the thirty (30) day period after the later of (a) the Expiration Date or (b) the
date that Tenant delivers possession of the Demised Premises to Landlord. Provided that (1) the Letter of Credit is then in full force and effect (i.e. it has not been converted to cash), and (2) Tenant is not then in default of this Lease
beyond any applicable cure period and no event has occurred that with the passage of time or giving of notice would constitute a default of Tenant hereunder, the amount of the Letter of Credit shall automatically be reduced (i) by $100,000.00
on the first day of Lease Year 4, and (ii) by an additional $100,000.00 on the first day of Least Year 5, and (iii) by an additional $100,000.00 on the first day of Lease Year 6, whereupon the Letter of Credit shall be terminated.
Following each of the first two such reductions in the amount of the Letter of Credit, and provided the conditions set forth in clauses (1) and (2) above are then satisfied, Landlord shall (at no cost to Landlord) (A) accept from the
issuer of the Letter of Credit an amendment to the Letter of Credit reducing the Letter of Credit by the applicable amount, but which does not otherwise amend or modify the Letter of Credit, and (B) execute and deliver to the issuer of the
Letter of Credit such instruments as may be reasonably required by such issuer to effectuate such reduction. Following the third such reduction, and provided the conditions set forth in clauses (1) and (2) above are then satisfied, Landlord
shall (at no cost to Landlord), surrender the Letter of Credit to the issuer thereof and execute and deliver to the issuer of the Letter of Credit such instruments as may be reasonably required by such issuer to terminate the Letter of Credit. 

(c)            Tenant shall, upon demand, pay directly or
reimburse Landlord for all expenses incurred by Landlord in connection with a portion of the Security Deposit being in the form of a Letter of Credit, including, but not limited to, any transfer fee due upon the transfer of the Letter of Credit upon
a sale of the Building by Landlord. In the event that, during the Term, Tenant fails to deliver to Landlord a renewal of or replacement to the Letter of Credit by a date no later than thirty (30) days prior to its expiration date, Landlord
shall have the right to demand and receive payment in full under the Letter of Credit and to hold the Proceeds as a portion of the Security Deposit under this Lease. Notwithstanding anything contained herein to the contrary, if the Letter of Credit
is issued by a foreign bank, Landlord shall have the right to have the Letter of Credit authenticated and/or confirmed by Bank of America, N.A. or another domestic United States national bank satisfactory to Landlord. In the event Landlord is unable
to obtain such authentication and/or confirmation of the Letter of Credit, Tenant shall promptly obtain and deliver to Landlord a replacement letter of credit which satisfies the requirements of this Section 5 (the “Replacement Letter of
Credit”) and Landlord shall have the right to have the Replacement Letter of Credit 

  
 -3- 

 
authenticated and/or confirmed as set forth herein. In the event Landlord is unable to obtain such authentication and/or confirmation of the Replacement Letter of Credit, it shall constitute an
Event of Default under this Lease. 
 (d)            The
acceptance by Landlord of the Security Deposit paid by Tenant shall not render this Lease effective unless and until Landlord shall have executed and delivered to Tenant a fully executed copy of this Lease. The Cash Security Deposit and/or Proceeds
(as hereinafter defined) may be commingled with Landlord’s other funds or held by Landlord in a separate interest bearing account, with interest paid to Landlord, as Landlord may elect. In the event that Tenant is in default under this Lease,
Landlord may retain the Cash Security Deposit and/or draw down the Letter of Credit and use such cash proceeds (the “Proceeds”) for the payment of any sum due Landlord or which Landlord may expend or be required to expend by reason of
Tenant’s default or failure to perform; provided, however, that any such retention by Landlord shall not be or be deemed to be an election of remedies by Landlord or viewed as liquidated damages, it being expressly understood and
agreed that Landlord shall have the right to pursue any and all other remedies available to it under the terms of this Lease or otherwise. In the event all or any portion of the Cash Security Deposit and/or Proceeds is so retained by Landlord,
Tenant shall, within five (5) days of demand therefor from Landlord, replenish the Cash Security Deposit and/or Proceeds to the full amounts set forth in Section l(k). In the event that Tenant shall comply with all of the terms, covenants and
conditions of this Lease, the Cash Security Deposit, and, to the extent not terminated pursuant to Section 5(b), the Letter of Credit, shall be returned to Tenant within thirty (30) days after the later of (a) the Expiration Date or
(b) the date that Tenant delivers possession of the Demised Premises to Landlord. In the event of a sale of the Building, Landlord shall have the right to transfer the Security Deposit to the purchaser, and upon acceptance by such purchaser,
Landlord shall be released from all liability for the return of the Security Deposit. Tenant shall not assign or encumber the money deposited as security, and neither Landlord nor its successors or assigns shall be bound by any such assignment or
encumbrance. 
   6.            Operating Expenses
and Additional Rent. 
 (a)            Tenant agrees to pay
as Additional Rent (as defined in Section 6(b) below) its proportionate share of Operating Expenses (as hereinafter defined). “Operating Expenses” shall be defined as all reasonable expenses for operation, repair, replacement and
maintenance as necessary to keep the Building and the common areas, driveways, and parking areas associated therewith (collectively, the “Building Common Area”) fully operational and in good order, condition and repair, including but not
limited to, utilities for the Building Common Area, expenses associated with the driveways and parking areas (including sealing and restriping, and trash removal), roof, security systems, fire detection and prevention systems, lighting facilities,
landscaped areas, walkways, painting and caulking, directional signage, curbs, drainage strips, sewer lines, all charges assessed against or attributed to the Building pursuant to any applicable easements, covenants, restrictions, agreements,
declaration of protective covenants or development standards, property management fees (Tenant’s annual share of management fees shall be in an amount equal to 3.0% of the amount of annual Rent due hereunder), all real property taxes and
special assessments imposed upon the Building, the Building Common Area and the land on which the Building and the Building Common Area are constructed, all costs of insurance paid by Landlord with respect to the Building and the Building Common
Area (including, without limitation, commercially reasonable deductibles), and costs of improvements to the Building and the Building Common Area required by any law, ordinance or regulation applicable to the Building and the Building Common Area
generally (and not because of the particular use of the Building or the Building Common Area by a particular tenant), which cost shall be amortized on a straight line basis over the useful life of such improvement, as reasonably determined by
Landlord. Operating Expenses shall not include expenses for the costs of any maintenance and repair required to be performed by Landlord at its own expense under Section (10)(b). Further, Operating Expenses shall not include the costs for capital
improvements unless such costs are incurred for the purpose of causing a material decrease in the Operating Expenses of the Building or the Building Common Area or are incurred with respect to improvements made to comply with laws, ordinances or
regulations as described above. The proportionate share of Operating Expenses to be paid by Tenant shall be a percentage of the Operating Expenses based upon the proportion that the square footage of the Demised Premises bears to the total square
footage of the Building (such figure referred to as “Tenant’s Operating Expense Percentage” and set forth in Section 1(j)); provided that, as to management fees, Tenant shall pay Landlord the management fees directly attributable to
the Rent (as hereinafter defined) payable hereunder with respect to the Demised Premises, and not Tenant’s Operating Expense Percentage of the management fees payable on the entire Building. Notwithstanding the foregoing, Landlord shall, in
Landlord’s reasonable discretion, have the right to adjust Tenant’s proportionate share of individual components of Operating Expenses if Tenant’s Operating Expense Percentage thereof would not equitably allocate to Tenant its share
of such component of Operating Expenses in light of Tenant’s particular use of, manner of use of and/or level of tenant improvements in the Demised Premises. Prior to or promptly after the beginning of each calendar year during the Term,
Landlord shall estimate the total amount of Operating Expenses to be paid by Tenant during each such calendar year and Tenant shall pay to Landlord one-twelfth (1/12) of such sum on the first day of each
calendar month during each such calendar year, or part thereof, during the Term. Within a reasonable time after the end of each calendar year, Landlord shall submit to Tenant a statement of the actual amount of Operating Expenses for such calendar
year, and the actual amount owed by Tenant, and within thirty (30) days after receipt of such statement, Tenant shall pay any deficiency between the actual amount owed and the estimates paid during such calendar year, or in the event of
overpayment, Landlord shall credit the amount of such overpayment toward the next installment of Operating Expenses owed by Tenant or remit such overpayment to Tenant if the 

  
 -4- 

 
Term has expired or has been terminated and no Event of Default exists hereunder. The obligations in the immediately preceding sentence shall survive the expiration or any earlier termination of
this Lease. If the Base Rent Commencement Date shall fall on other than the first day of the calendar year, and/or if the Expiration Date shall fall on other than the last day of the calendar year, Tenant’s proportionate share of the Operating
Expenses for such calendar year shall be apportioned prorata. 

(b)            Any amounts required to be paid by Tenant
hereunder (in addition to Base Rent) and any charges or expenses incurred by Landlord on behalf of Tenant under the terms of this Lease shall be considered “Additional Rent” payable in the same manner and upon the same terms and conditions
as the Base Rent reserved hereunder except as set forth herein to the contrary (all such Base Rent and Additional Rent sometimes being referred to collectively herein as “Rent”). Any failure on the part of Tenant to pay such Additional
Rent when and as the same shall become due shall entitle Landlord to the remedies available to it for non-payment of Base Rent. Tenant’s obligations for payment of Additional Rent shall begin to accrue on
the Base Rent Commencement Date. 
 (c)            If
applicable in the jurisdiction where the Demised Premises are located, Tenant shall pay and be liable for all rental, sales, use and inventory taxes or other similar taxes, if any, on the amounts payable by Tenant hereunder levied or imposed by any
city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Landlord by Tenant under the terms of this Lease. Such payment shall be made by Tenant directly to such
governmental body if billed to Tenant, or if billed to Landlord, such payment shall be paid concurrently with the payment of the Base Rent, Additional Rent, or such other charge upon which the tax is based, all as set forth herein. 

  7.            Use of Demised Premises. 

(a)            The Demised Premises shall be used for the
Permitted Use set forth in Section 1(1) and for no other purpose. 

(b)            Except as provided in Section 18(b), Tenant
will permit no liens to attach or exist against the Demised Premises, and shall not commit any waste. 

(c)            The Demised Premises shall not be used for any
illegal purposes, and Tenant shall not allow, suffer, or permit any vibration, noise, odor, light or other effect to occur within or around the Demised Premises that could constitute a nuisance or trespass for Landlord or any occupant of the
Building or an adjoining building, its customers, agents, or invitees. Upon notice by Landlord to Tenant that any of the aforesaid prohibited uses are occurring, Tenant agrees to promptly remove or control the same. 

(d)            Tenant shall not in any way violate any law,
ordinance or restrictive covenant affecting the Demised Premises, and shall not in any manner use the Demised Premises so as to cause cancellation of, prevent the use of, or increase the rate of, the fire and extended coverage insurance policy
required hereunder. Landlord makes no (and does hereby expressly disclaim any) covenant, representation or warranty as to the Permitted Use being allowed by or being in compliance with any applicable laws, rules, ordinances or restrictive covenants
now or hereafter affecting the Demised Premises, and any zoning letters, copies of zoning ordinances or other information from any governmental agency or other third party provided to Tenant by Landlord or any of Landlord’s agents or employees
shall be for informational purposes only, Tenant hereby expressly acknowledging and agreeing that Tenant shall conduct and rely solely on its own due diligence and investigation with respect to the compliance of the Permitted Use with all such
applicable laws, rules, ordinances and restrictive covenants and not on any such information provided by Landlord or any of its agents or employees. Notwithstanding anything herein to the contrary, Landlord represents and warrants that, as of the
Lease Date, (i) the Demised Premises is zoned P-I-H under the City of Savannah, Georgia zoning ordinance, and (ii) the General Use is an allowed use under the
protective covenants affecting the Project. 

(e)            In the event insurance premiums pertaining to the
Demised Premises, the Building, or the Building Common Area, whether paid by Landlord or Tenant, are increased over the least hazardous rate available due to the nature of the use of the Demised Premises by Tenant, Tenant shall pay such additional
amount as Additional Rent. 

  8.            Insurance. 

(a)            Tenant covenants and agrees that from and after
the Lease Commencement Date or any earlier date upon which Tenant enters or occupies the Demised Premises or any portion thereof, Tenant will carry and maintain, at its sole cost and expense, the following types of insurance, in the amounts
specified and in the form hereinafter provided for: 

(i)            Liability insurance in the Commercial General
Liability form (including Broad Form Property Damage and Contractual Liabilities or reasonable equivalent thereto) covering the Demised Premises and Tenant’s use thereof against claims for bodily injury or death, property damage and product
liability occurring upon, in or about the Demised Premises, such insurance to be written on an occurrence basis (not a claims made basis), to be in combined single limits amounts not less than $3,000,000.00 and to have general aggregate limits of
not less than $5,000,000.00 for each policy year. 

  
 -5- 

 
The insurance coverage required under this Section 8(a)(i) shall, in addition, extend to any liability of Tenant arising out of the indemnities provided for in Section 11 and, if
necessary, the policy shall contain a contractual endorsement to that effect. 

(ii)            Insurance covering (A) all of the
Improvements (as defined in Section 17(a) hereof), including but not limited to demising walls and the heating, ventilating and air conditioning system and (B) Tenant’s trade fixtures, merchandise and personal property from time to time
in, on or upon the Demised Premises, in an amount not less than one hundred percent (100%) of their full replacement value from time to time during the Term, providing protection against perils included within the standard form of “Special
Form” fire and casualty insurance policy, together with insurance against sprinkler damage, vandalism and malicious mischief. Any policy proceeds from such insurance relating to the Improvements shall be used solely for the repair, construction
and restoration or replacement of the Improvements damaged or destroyed unless this Lease shall cease and terminate under the provisions of Section 20. 

(b)            All policies of the insurance provided for in
Section 8(a) shall be issued in form reasonably acceptable to Landlord by insurance companies with a rating of not less than “A,” and financial size of not less than Class XII, in the most current available “Best’s
Insurance Reports”, and licensed to do business in the state in which the Building is located. Each and every such policy: 

(i)            shall name Landlord, Lender (as defined in
Section 24), and any other party reasonably designated by Landlord, as an additional insured. In addition, the coverage described in Section 8(a)(ii)(A) relating to the Improvements shall also name Landlord as “loss payee”; 

(ii)            shall be delivered to Landlord through a
certificate of insurance evidencing the required lines of coverage, insurance limits and coverage endorsements set forth in this Lease, and otherwise in a form acceptable to Landlord, prior to the Lease Commencement Date and thereafter within thirty
(30) days prior to the expiration of each such policy, and, as often as any such policy shall expire or terminate. Renewal or additional policies shall be procured and maintained by Tenant in like manner and to like extent; 

(iii)            shall contain a provision that the insurer will
give to Landlord and such other parties in interest at least thirty (30) days notice in writing in advance of any material change, cancellation, termination or lapse, or the effective date of any reduction in the amounts of insurance; and 

(iv)            shall be written as a primary policy which does
not contribute to and is not in excess of coverage which Landlord may carry. 

(c)            In the event that Tenant shall fail to carry and
maintain the insurance coverages set forth in this Section 8, Landlord may upon thirty (30) days notice to Tenant (unless such coverages will lapse in which event no such notice shall be necessary) procure such policies of insurance and
Tenant shall promptly reimburse Landlord therefor. 

(d)            Notwithstanding anything to the contrary contained
in this Lease, Landlord and Tenant hereby waive any rights each may have against the other on account of any loss or damage occasioned to Landlord or Tenant, as the case may be, their respective property, the Demised Premises, its contents or to the
other portions of the Building, arising from any risk covered by “Special Form” fire and extended coverage insurance of the type and amount required to be carried hereunder, provided that such waiver does not invalidate such policies or
prohibit recovery thereunder. The parties hereto shall cause their respective insurance companies insuring the property of either Landlord or Tenant against any such loss, to waive any right of subrogation that such insurers may have against
Landlord or Tenant, as the case may be. 

  9.            Utilities. During the Term,
Tenant shall promptly pay as billed to Tenant all rents and charges for water and sewer services and all costs and charges for gas, steam, electricity, fuel, light, power, telephone, heat and any other utility or service used or consumed in or
servicing the Demised Premises and all other costs and expenses involved in the care, management and use thereof as charged by the applicable utility companies. All such utilities, except for sewer and water, shall be separately metered and billed
to Tenant, and Tenant shall establish an account with the utility provider with respect to each such separately metered utility. Sewer and water shall not be separately metered, and shall be billed to Tenant by Landlord, at Landlord’s actual
cost, in an amount equal to a reasonable estimation of such utilities actually used by Tenant. Tenant’s obligation for payment of all utilities shall commence on the earlier of the Lease Commencement Date or the date of Tenant’s actual
occupancy of all or any portion of the Demised Premises, including any period of occupancy prior to the Lease Commencement Date, regardless of whether or not Tenant conducts business operations during such period of occupancy. In the event
Tenant’s use of any utility not separately metered is in excess of the average use by other tenants, Landlord shall have the right to install a meter for such utility, at Tenant’s expense, and bill Tenant for Tenant’s actual use. If
Tenant fails to pay any utility bills or charges, Landlord may, at its option and upon reasonable notice to Tenant, pay the same and in such event, the amount of such payment, together with interest thereon at the Interest Rate as defined in
Section 32 from the date of such payment by Landlord, will be added to Tenant’s next payment due as Additional Rent. 

  
 -6- 

10.            Maintenance and Repairs. 

(a)            Tenant shall, at its own cost and expense,
maintain in good condition and repair and replace as necessary the Demised Premises, including but not limited to the heating, air conditioning and ventilation systems, glass, windows and doors, sprinkler, all plumbing and sewage systems, fixtures,
interior walls, floors (including routine cleaning and maintenance of the floor slabs), dock areas, dock ramps, ceilings, storefronts, plate glass, skylights, all electrical facilities and equipment including, without limitation, lighting fixtures,
lamps, fans and any exhaust equipment and systems, electrical motors, and all other appliances and equipment (including, without limitation, dock levelers, dock shelters, dock seals and dock lighting) of every kind and nature located in, upon or
about the Demised Premises, except as to such maintenance, repair and replacement as is the obligation of Landlord pursuant to Section 10(b). During the Term, Tenant shall maintain in full force and effect a service contract for the maintenance
of the heating, ventilation and air conditioning systems with an entity reasonably acceptable to Landlord; provided, however, that during the one year period following the Lease Commencement Date, such service contract shall be maintained with the
contractor that installed the heating, ventilation and air conditioning systems and shall provide for at least two preventive maintenance service calls during such one year period. Tenant shall deliver to Landlord (i) a copy of said service
contract prior to the Lease Commencement Date, and (ii) thereafter, a copy of a renewal or substitute service contract within thirty (30) days prior to the expiration of the existing service contract. Notwithstanding the foregoing,
Landlord shall have the option to enter into such service contract for and on behalf of Tenant and, in the event Landlord elects such option, Tenant shall reimburse Landlord, as Additional Rent, all of Landlord’s reasonable costs incurred in
connection with such service contract, as well as Landlord’s actual costs of repair and maintenance of the heating, ventilation and air conditioning systems. Tenant’s obligation shall exclude any maintenance, repair and replacement
required because of the act or negligence of Landlord, its employees, contractors or agents, which shall be the responsibility of Landlord. 

(b)            Landlord shall, at its own cost and expense,
maintain in good condition and repair the foundation (beneath the floor slab except to the extent repair of the floor slab is necessary due to structural defects in the integrity of the floor slab), and structural frame of the Building.
Landlord’s obligation shall exclude the cost of any maintenance or repair required because of the act or negligence of Tenant or any of Tenant’s subsidiaries or affiliates, or any of Tenant’s or such subsidiaries’ or
affiliates’ agents, contractors, employees, licensees or invitees (collectively, “Tenant’s Affiliates”), the cost of which shall be the responsibility of Tenant. Landlord shall never have any obligation to repair, maintain or
replace, pursuant to this subsection 10(b) or any other provision of this Lease, any Tenant’s Change (as defined in Section 18 hereof). 

(c)            Unless the same is caused solely by the negligent
action or inaction of Landlord, its employees or agents, and is not covered by the insurance required to be carried by Tenant pursuant to the terms of this Lease, Landlord shall not be liable to Tenant or to any other person for any damage
occasioned by failure in any utility system or by the bursting or leaking of any vessel or pipe in or about the Demised Premises, or for any damage occasioned by water coming into the Demised Premises or arising from the acts or neglects of
occupants of adjacent property or the public. 

11.            Tenant’s Personal Property; Indemnity.
All of Tenant’s personal property in the Demised Premises shall be and remain at Tenant’s sole risk. Landlord, its agents, employees and contractors, shall not be liable for, and Tenant hereby releases Landlord from, any and all liability
for theft thereof or any damage thereto occasioned by any act of God or by any acts, omissions or negligence of any persons, except to the extent caused by the negligence of Landlord, its agents, employees and contractors. Landlord, its agents,
employees and contractors, shall not be liable for any injury to the person or property of Tenant or other persons in or about the Demised Premises, Tenant expressly agreeing to indemnify and save Landlord, its agents, employees and contractors,
harmless, in all such cases, except to the extent caused by the negligence of Landlord, its agents, employees and contractors. Tenant further agrees to indemnify and reimburse Landlord for any costs or expenses, including, without limitation,
attorneys’ fees, that Landlord reasonably may incur in investigating, handling or litigating any such claim against Landlord by a third person, unless such claim arose from the negligence of Landlord, its agents, employees or contractors. The
provisions of this Section 11 shall survive the expiration or earlier termination of this Lease with respect to any damage, injury or death occurring before such expiration or termination. 

12.            Tenant’s Fixtures. Tenant shall have
the right to install in the Demised Premises trade fixtures required by Tenant or used by it in its business, and if installed by Tenant, to remove any or all such trade fixtures from time to time during and upon termination or expiration of this
Lease, provided no Event of Default, as defined in Section 22, then exists; provided, however, that Tenant shall repair and restore any damage or injury to the Demised Premises (to the condition in which the Demised Premises
existed prior to such installation) caused by the installation and/or removal of any such trade fixtures. 

13.            Signs. No sign, advertisement or notice
shall be inscribed, painted, affixed, or displayed on the windows or exterior walls of the Demised Premises or on any public area of the Building, except in such places, numbers, sizes, colors and styles as are approved in advance in writing by
Landlord and SEDA (as defined in Special Stipulation 1 on Exhibit C attached hereto and made a part hereof), and which conform to all applicable laws, ordinances, or covenants affecting the Demised Premises. Any and all signs installed or
constructed by or on behalf of Tenant pursuant hereto shall be installed, maintained and removed by Tenant at Tenant’s sole cost and expense. Provided such signage otherwise complies with the terms and

  
 -7- 

 
conditions of this Section 13, Landlord acknowledges and agrees that Tenant shall have the right, at its sole cost and expense, (i) to install its standard graphics and signage on the
exterior of the Building; and (ii) to install a monument sign with Tenant’s trade name in front of the Building. 

14.            Intentionally Deleted. 

15.            Governmental Regulations. Tenant shall
promptly comply throughout the Term, at Tenant’s sole cost and expense, with all present and future laws, ordinances, orders, rules, regulations or requirements of all federal, state and municipal governments and appropriate departments,
commissions, boards and officers thereof (collectively, “Governmental Requirements”) relating to (a) all or any part of the Demised Premises, and (b) the use or manner of use of the Demised Premises and the Building Common Area.
Tenant shall also observe and comply with the requirements of all policies of public liability, fire and other policies of insurance at any time in force with respect to the Demised Premises. Without limiting the foregoing, if as a result of one or
more Governmental Requirements it is necessary, from time to time during the Term, to perform an alteration or modification of the Demised Premises, the Building or the Building Common Area (a “Code Modification”) which is made necessary
as a result of the specific use being made by Tenant of the Demised Premises or a Tenant’s Change, then such Code Modification shall be the sole and exclusive responsibility of Tenant in all respects; any such Code Modification shall be
promptly performed by Tenant at its expense in accordance with the applicable Governmental Requirement and with Section 18 hereof. If as a result of one or more Governmental Requirements it is necessary from time to time during the Term to
perform a Code Modification which (i) would be characterized as a capital expenditure under generally accepted accounting principles and (ii) is not made necessary as a result of the specific use being made by Tenant of the Demised
Premises (as distinguished from an alteration or modification which would be required to be made by the owner of any warehouse-office building comparable to the Building irrespective of the use thereof by any particular occupant) or a Tenant’s
Change, then (a) Landlord shall have the obligation to perform the Code Modification at its expense, (b) the cost of such Code Modification shall be amortized on a straight-line basis over the useful life of the item in question, as
reasonably determined by Landlord, and (c) Tenant shall be obligated to pay (as Additional Rent, payable in the same manner and upon the same terms and conditions as the Base Rent reserved hereunder) for (i) Tenant’s proportionate
share (based on Tenant’s Operating Expense Percentage) of the portion of such amortized costs attributable to the remainder of the Term, including any extensions thereof, with respect to any Code Modification respecting the Building or the
Building Common Area, and (ii) the entire portion of such amortized costs attributable to the remainder of the Term, including any extensions thereof, with respect to any Code Modification respecting the Demised Premises. Tenant shall promptly
send to Landlord a copy of any written notice received by Tenant requiring a Code Modification. 

16.            Environmental Matters. 

(a)            For purposes of this Lease: 

(i)            “Contamination” as used herein means the
presence of or release of Hazardous Substances (as hereinafter defined) into any environmental media from, upon, within, below, into or on any portion of the Demised Premises, the Building, the Building Common Area or the Project so as to require
remediation, cleanup or investigation under any applicable Environmental Law (as hereinafter defined). 

(ii)            “Environmental Laws” as used herein
means all federal, state, and local laws, regulations, orders, permits, ordinances or other requirements, which exist now or as may exist hereafter, concerning protection of human health, safety and the environment, all as may be amended from time
to time including, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. 9601 et seq. (“CERCLA”) and the Resource Conservation and Recovery Act, 42 U.S.C. 6901 et seq. (“RCRA”).

 (iii)            “Hazardous Substances” as used
herein means any hazardous or toxic substance, material, chemical, pollutant, contaminant or waste as those terms are defined by any applicable Environmental Laws and any solid wastes, polychlorinated biphenyls, urea formaldehyde, asbestos,
radioactive materials, radon, explosives, petroleum products and oil. 

(b)            Landlord represents that, except as revealed to
Tenant in writing by Landlord, to Landlord’s actual knowledge, Landlord has not treated, stored or disposed of any Hazardous Substances upon or within the Demised Premises, nor, to Landlord’s actual knowledge, has any predecessor owner of
the Demised Premises. 
 (c)            Tenant covenants that
all its activities, and the activities of Tenant’s Affiliates (as defined in Section 10(b)), on the Demised Premises, the Building, or the Project during the Term will be conducted in compliance with Environmental Laws. Tenant warrants
that it is currently in compliance with all applicable Environmental Laws and that there are no pending or threatened notices of deficiency, notices of violation, orders, or judicial or administrative actions involving alleged violations by Tenant
of any Environmental Laws. Tenant, at Tenant’s sole cost and expense, shall be responsible for obtaining all permits or licenses or approvals under Environmental Laws necessary for Tenant’s operation of its business on the Demised Premises
and shall make all notifications and registrations required by any applicable Environmental Laws. Tenant, at Tenant’s sole cost and expense, shall at all times comply with the terms 

  
 -8- 

 
and conditions of all such permits, licenses, approvals, notifications and registrations and with any other applicable Environmental Laws. Tenant warrants that it has obtained, or, prior to the
Lease Commencement Date, will obtain all such permits, licenses or approvals and has made or, prior to the Lease Commencement Date, will make all such notifications and registrations required by any applicable Environmental Laws necessary for
Tenant’s operation of its business on the Demised Premises. 

(d)            Tenant shall not cause or permit any Hazardous
Substances to be brought upon, kept or used in or about the Demised Premises, the Building, or the Project without the prior written consent of Landlord, which consent shall not be unreasonably withheld; provided, however, that the consent of
Landlord shall not be required for the use at the Demised Premises of cleaning supplies, toner for photocopying machines and other similar materials, in containers and quantities reasonably necessary for and consistent with normal and ordinary use
by Tenant in the routine operation or maintenance of Tenant’s office equipment or in the routine janitorial service, cleaning and maintenance for the Demised Premises. For purposes of this Section 16, Landlord shall be deemed to have
reasonably withheld consent if Landlord determines that the presence of such Hazardous Substance within the Demised Premises could result in a risk of harm to person or property or otherwise negatively affect the value or marketability of the
Building or the Project. 
 (e)            Tenant shall not
cause or permit the release of any Hazardous Substances by Tenant or Tenant’s Affiliates into any environmental media such as air, water or land, or into or on the Demised Premises, the Building or the Project in any manner that violates any
Environmental Laws. If such release shall occur, Tenant shall (i) take all steps reasonably necessary to contain and control such release and any associated Contamination, (ii) clean up or otherwise remedy such release and any associated
Contamination to the extent required by, and take any and all other actions required under, applicable Environmental Laws and (iii) notify and keep Landlord reasonably informed of such release and response. 

(f)            Regardless of any consents granted by Landlord
pursuant to Section 16(d) allowing Hazardous Substances upon the Demised Premises, Tenant shall under no circumstances whatsoever cause or permit (i) any activity on the Demised Premises which would cause the Demised Premises to become
subject to regulation as a hazardous waste treatment, storage or disposal facility under RCRA or the regulations promulgated thereunder, (ii) the discharge of Hazardous Substances into the storm sewer system serving the Project or
(iii) the installation of any underground storage tank or underground piping on or under the Demised Premises. 

(g)            Tenant shall and hereby does indemnify Landlord
and hold Landlord harmless from and against any and all expense, loss, and liability suffered by Landlord (except to the extent that such expenses, losses, and liabilities arise out of Landlord’s own negligence or willful act), by reason of the
storage, generation, release, handling, treatment, transportation, disposal, or arrangement for transportation or disposal, of any Hazardous Substances (whether accidental, intentional, or negligent) by Tenant or Tenant’s Affiliates or by
reason of Tenant’s breach of any of the provisions of this Section 16. Such expenses, losses and liabilities shall include, without limitation, (i) any and all expenses that Landlord may incur to comply with any Environmental Laws;
(ii) any and all costs that Landlord may incur in studying or remedying any Contamination at or arising from the Demised Premises, the Building, or the Project; (iii) any and all costs that Landlord may incur in studying, removing,
disposing or otherwise addressing any Hazardous Substances; (iv) any and all fines, penalties or other sanctions assessed upon Landlord; and (v) any and all legal and professional fees and costs incurred by Landlord in connection with the
foregoing. The indemnity contained herein shall survive the expiration or earlier termination of this Lease. 

17.            Construction of Demised Premises. 

(a)            Tenant shall be responsible for constructing the
interior improvements within the Demised Premises (the “Improvements”). Landlord and Tenant acknowledge and agree that Farrington Design Group shall act as Tenant’s architect and Choate Construction Company shall act as Tenant’s
construction contractor. Tenant shall prepare and submit to Landlord for Landlord’s written approval or disapproval (which approval will not be unreasonably withheld or conditioned) a complete set of plans and specifications and construction
drawings (collectively, the “Plans and Specifications”) based on the preliminary plans and specifications and/or preliminary floor plans set forth on Exhibit B attached hereto and incorporated herein, covering all work to be
performed in constructing the Improvements. The Plans and Specifications shall be in such detail as Landlord may reasonably require and shall be in compliance with all applicable statutes, ordinances and regulations; provided, however, that
Landlord’s approval of the Plans and Specifications shall not be deemed to be a warranty or representation that the Plans and Specifications comply with all applicable statutes, ordinances and regulations. Landlord shall review the Plans and
Specifications and indicate requested changes, if any, by written notice to Tenant, within fifteen (15) days after receipt of the Plans and Specifications by Landlord. If Landlord fails to indicate such requested changes to the Plans and
Specifications by such date, the Plans and Specifications shall be deemed approved. Thereafter, any changes to the Plans and Specifications shall be subject to Landlord’s written approval. If after the Plans and Specifications have been
finalized pursuant to the procedures set forth hereinabove Tenant requests a changes to the Plans and Specifications and, as a result thereof, Substantial Completion (as hereinafter defined) of the Improvements is delayed, then for purposes of
establishing the Lease Commencement Date and any other date tied to the date of Substantial Completion, Substantial Completion shall be deemed to mean the date when Substantial Completion would have been achieved but for such Tenant delay. 

  
 -9- 

(b)            Landlord shall deliver the Demised Premises to
Tenant within three (3) days following the Lease Date. The Demised Premises as so delivered shall consist of a building shell with sprinkler system but without demising walls. Tenant hereby expressly acknowledges and agrees that it shall
accept, and shall be deemed to have accepted, the Demised Premises AS IS, WHERE IS, and as suitable for the purposes for which the same are leased hereby. Notwithstanding the foregoing, Tenant’s acceptance of the Demised Premises prior to the
Lease Commencement Date shall not be deemed to create an obligation to pay Base Rent or Additional Rent prior to the dates set forth herein, provided that Tenant shall otherwise comply with all of the terms and conditions of this Lease upon
acceptance of the Demised Premises. Tenant or its contractor shall use reasonable speed and diligence to construct the Improvements in a good, first-class, workmanlike and timely manner and in accordance with the Plans and Specifications. Tenant
shall carry, or cause its contractor to carry, insurance reasonably satisfactory to Landlord throughout the construction of the Improvements. Except as expressly set forth in Section 17(g) below, regardless of whether or not Tenant is able to
Substantially Complete the Improvements or commence business operations from the Demised Premises by March 1, 2009, the Base Rent Commencement Date, Tenant’s obligation to pay Base Rent and Additional Rent hereunder shall nevertheless
begin on such date. 
 (c)            Upon Substantial
Completion of the Demised Premises, a representative of Landlord and a representative of Tenant together shall inspect the Demised Premises and generate a punchlist of defective or uncompleted items relating to the completion of construction of the
Improvements (the “Punchlist”). Tenant’s contractor shall, within a reasonable time after the Punchlist is prepared and agreed upon by Landlord and Tenant, complete such incomplete work and remedy such defective work as is set forth
on the Punchlist. All construction work shall be deemed approved by Tenant in all respects except for items of said work which are included on the Punchlist. 

(d)            Notwithstanding anything to the contrary contained
herein, Landlord shall be responsible for the cost of the construction of the Improvements only up to an amount equal to $1,040,345.00 (the “Tenant Allowance”). Landlord shall reimburse Tenant for Tenant’s costs (as defined in
subsection (f) below) incurred in constructing the Improvements, up to the amount of the Tenant Allowance as follows: 

(1)          During construction of the Improvements, Landlord shall make
periodic payments (but not more often than once a month) of up to an aggregate amount equal to seventy-five percent (75%) of the amount of the Tenant Allowance to Tenant at such time as: 

(i)            Tenant has delivered to Landlord
copies of Tenant’s building permit (applies to the initial progress payment only); 

(ii)            Tenant has received
Landlord’s written approval of the Plans and Specifications (applies to the initial progress payment only); 

(iii)            Tenant has submitted a written
request for payment directly to Landlord, together with a corresponding application for payment from Tenant’s contractor, indicating the level of completion of the Improvements; 

(iv)            Tenant’s contractor has
completed the stated portion of the Improvements within the Demised Premises, as evidenced by a certificate from Tenant’s architect and invoices, receipts and other evidence reasonably required by Landlord to evidence the cost of the
Improvements made as of the date of Tenant’s request for payment; and 

(v)            Tenant has delivered to Landlord
partial lien waivers for the completed portion of the Improvements, from Tenant’s contractor, all subcontractors and all laborers or material suppliers having performed any work at the Demised Premises relating to the completed portion of the
Improvements. 
 (2)          Landlord shall pay the remaining
twenty-five percent (25%) of the Tenant Allowance to Tenant at such time that Tenant’s contractor has: 

(i)            Substantially Completed the
Improvements as established by the delivery by Tenant to Landlord of (i) a certificate of occupancy or its equivalent (or temporary certificate of occupancy or its equivalent) for the Demised Premises issued by the appropriate governmental
authority, if a certificate is so required by a governmental authority, and (ii) a Certificate of Substantial Completion for the Improvements on Standard AIA Form G-704 certified by Tenant’s
architect; 
 (ii)            delivered to
Landlord lien waivers and affidavits from Tenant’s contractor, all subcontractors, and all laborers or materials suppliers having performed any work at the Demised Premises relating to the Improvements, together with any other evidence
reasonably required by Landlord to satisfy Landlord’s title insurer that there are no parties entitled to file a lien against the real property underlying the Project in connection with such work; and 

  
 -10- 

(iii)            delivered to Landlord all
invoices, receipts and other evidence reasonably required by Landlord to evidence the cost of the Improvements. 

(e)            For purposes of this Lease, the term
“Substantial Completion” (or any variation thereof) shall mean completion of construction of the Improvements in accordance with the Plans and Specifications, subject only to Punchlist items established pursuant to Section 17(c), as
established by the delivery by Tenant to Landlord of (i) a certificate of occupancy or its equivalent (or temporary certificate of occupancy or its equivalent) for the Demised Premises issued by the appropriate governmental authority, if a
certificate is so required by a governmental authority, and (ii) a Certificate of Substantial Completion for the Improvements on Standard AIA Form G-704 certified by Tenant’s architect. In the event
Substantial Completion is delayed because of any delay other than Force Majeure Delay (as defined in Section 17(g) below), then for the purpose of establishing the Lease Commencement Date and any other date tied to the date of Substantial
Completion, Substantial Completion shall be deemed to mean the date when Substantial Completion would have been achieved but for such delay. 

(f)            Tenant hereby expressly acknowledges and agrees
that in the event that following the final approval of the Plans and Specifications, Landlord reasonably determines that modifications to the base Building required in connection with the construction of the Improvements will cost in excess of
$50,000 to repair and restore upon the expiration or earlier termination of this Lease, Tenant shall provide Landlord with an additional cash security deposit or letter of credit in an amount reasonably determined by Landlord to be held by Landlord
pursuant to Section 5 hereof. Landlord shall provide written notice to Tenant specifying the amount of the additional security deposit required within thirty (30) days after the date of approval of the final Plans and Specifications.
Tenant agrees to deliver to Landlord such amount within ten (10) days following receipt of notice requesting the same. Failure by Tenant to make such payment to Landlord shall be a default hereunder. Tenant further hereby expressly acknowledges
and agrees that, notwithstanding anything in this Lease to the contrary, any and all wall panel systems installed within the Demised Premises in connection with the construction of the Improvements or thereafter shall remain the property of Landlord
upon the expiration or earlier termination of this Lease. 

(g)            For purposes of this Lease, “Force Majeure
Delay” shall mean delays incurred for such additional time as is equal to the time lost by Tenant’s contractors in connection with the completion of the Improvements as a result of a casualty to the Building or Building Common Area which
precludes access to either the Building or the Demised Premises. Tenant shall notify Landlord in writing within fifteen (15) days after the commencement of any event which Tenant feels constitutes a Force Majeure Delay and Landlord and Tenant
shall mutually agree upon the number of days of Force Majeure Delay as a result of such casualty. To the extent Substantial Completion is delayed because of Force Majeure Delay, then the Lease Commencement Date, the Base Rent Commencement Date and
the Expiration Date shall be postponed one day for each day Substantial Completion is delayed due to Force Majeure Delay. 

(h)            Tenant’s costs for construction of the
Improvements shall include all “hard” and “soft” costs associated with the construction of the Improvements, which shall include without limitation, the cost of the Plans and Specifications, and all tenant buildout, including,
without limitation, demising walls, utilities, and the heating, ventilating and air conditioning system. 

(i)            Tenant hereby expressly acknowledge and agrees
that Tenant shall be responsible for all costs of construction of the Improvements in excess of the Tenant Allowance. 

18.            Tenant Alterations and Additions. 

(a)            Tenant shall not make or permit to be made any
alterations, improvements, or additions to the Demised Premises (a “Tenant’s Change”), without first obtaining on each occasion Landlord’s prior written consent (which consent Landlord agrees not to unreasonably withhold) and
Lender’s prior written consent (if such consent is required). As part of its approval process, Landlord may require that Tenant submit plans and specifications to Landlord, for Landlord’s approval or disapproval, which approval shall not
be unreasonably withheld. All Tenant’s Changes shall be performed in accordance with all legal requirements applicable thereto and in a good and workmanlike manner with first-class materials. Tenant shall maintain insurance reasonably
satisfactory to Landlord during the construction of all Tenant’s Changes. If Landlord at the time of giving its approval to any Tenant’s Change notifies Tenant in writing that approval is not conditioned upon removal of Tenant’s
Change at the termination or expiration of this Lease, then Tenant shall not be required to remove the applicable Tenant’s Change at the termination or expiration of this Lease; provided, however, that absent a written confirmation that
approval is not conditioned on removal, then Tenant shall, at its sole cost and expense and at Landlord’s option upon the termination or expiration of this Lease, remove the same and restore the Demised Premises to its condition prior to such
Tenant’s Change. No Tenant’s Change shall be structural in nature or impair the structural strength of the Building or reduce its value. Tenant shall pay the full cost of any Tenant’s Change and shall give Landlord such reasonable
security as may be requested by Landlord to insure payment of such cost. Except as otherwise provided herein and in Section 12, all Tenant’s Changes and all repairs and all other property attached to or installed on the Demised Premises by
or on behalf of Tenant shall immediately upon completion or installation thereof be and become part of the Demised Premises and the property of Landlord without payment therefor by Landlord and shall be surrendered to Landlord upon the expiration or
earlier termination of this Lease. Notwithstanding anything herein to the contrary, Tenant shall be allowed 

  
 -11- 

 
to make minor, nonstructural Tenant’s Changes to the interior of the Demised Premises costing less than $25,000.00 individually, and $50,000.00 in the aggregate during any calendar year
(each a “Non-Structural Change”) without obtaining Landlord’s prior consent; provided, however, that Tenant shall, within thirty (30) days after the completion of said Non-Structural Change, provide Landlord with written description of said Non-Structural Change and evidence reasonably acceptable to Landlord of the cost/value thereof. Tenant
shall, at its sole cost and expense and at Landlord’s option upon the termination or expiration of this Lease, remove all Non-Structural Changes and restore the Demised Premises to its condition prior to
such Non-Structural Changes. 

(b)            To the extent permitted by law, all of
Tenant’s contracts and subcontracts for such Tenant’s Changes shall provide that no lien shall attach to or be claimed against the Demised Premises or any interest therein, and that all subcontracts let thereunder shall contain the same
provision. Whether or not Tenant furnishes the foregoing, Tenant agrees to hold Landlord harmless from, and defend against (with legal counsel acceptable to Landlord) all liens, claims and liabilities of every kind, nature and description which may
arise out of or in any way be connected with such work. Tenant shall not permit the Demised Premises to become subject to any mechanics’, laborers’ or materialmen’s lien on account of labor, material or services furnished to Tenant or
claimed to have been furnished to Tenant in connection with work of any character performed or claimed to have been performed for the Demised Premises by, or at the direction or sufferance of Tenant and if any such liens are filed against the
Demised Premises, Tenant shall promptly discharge the same; provided, however, that Tenant shall have the right to contest, in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall give
to Landlord, within fifteen (15) days after demand, such security as may be reasonably satisfactory to Landlord to assure payment thereof and to prevent any sale, foreclosure, or forfeiture of Landlord’s interest in the Demised Premises by
reason of non-payment thereof; provided further that on final determination of the lien or claim for lien, Tenant shall immediately pay any judgment rendered, with all proper costs and charges, and shall have
the lien released and any judgment satisfied. If Tenant fails to post such security or does not diligently contest such lien, Landlord may, without investigation of the validity of the lien claim, discharge such lien and Tenant shall reimburse
Landlord upon demand for all costs and expenses incurred in connection therewith, which expenses shall include any attorneys’ fees, paralegals’ fees and any and all costs associated therewith, including litigation through all trial and
appellate levels and any costs in posting bond to effect a discharge or release of the lien. Nothing contained in this Lease shall be construed as a consent on the part of Landlord to subject the Demised Premises to liability under any lien law now
or hereafter existing of the state in which the Demised Premises are located. 

19.            Services by Landlord. Landlord shall be
responsible for providing for maintenance of the Building Common Area, and, except as required by Section 10(b) hereof or as otherwise specifically provided for herein, Landlord shall be responsible for no other services whatsoever. Except as
otherwise provided in Section 10(b), Tenant, by payment of Tenant’s share of the Operating Expenses, shall pay Tenant’s pro rata share of the expenses incurred by Landlord hereunder. 

20.            Fire and Other Casualty. In the event the
Demised Premises are damaged by fire or other casualty insured by Landlord, Landlord agrees to promptly restore and repair the Demised Premises at Landlord’s expense, including the Improvements to be insured by Tenant, but only to the extent
Landlord receives insurance proceeds therefor, including the proceeds from the insurance required to be carried by Tenant on the Improvements. Notwithstanding the foregoing, in the event that the Demised Premises are (i) in the reasonable
opinion of Landlord, so destroyed that they cannot be repaired or rebuilt within two hundred seventy (270) days after the date of such damage; or (ii) destroyed by a casualty which is not covered by Landlord’s insurance, or if such
casualty is covered by Landlord’s insurance but Lender or other party entitled to insurance proceeds fails to make such proceeds available to Landlord in an amount sufficient for restoration of the Demised Premises, then Landlord shall give
written notice to Tenant of such determination (the “Determination Notice”) within sixty (60) days of such casualty. Either Landlord or Tenant may terminate and cancel this Lease effective as of the date of such casualty by giving
written notice to the other party within thirty (30) days after Tenant’s receipt of the Determination Notice. Upon the giving of such termination notice, all obligations hereunder with respect to periods from and after the effective date
of termination shall thereupon cease and terminate. If no such termination notice is given, Landlord shall, to the extent of the available insurance proceeds, make such repair or restoration of the Demised Premises to the approximate condition
existing prior to such casualty, promptly and in such manner as not to unreasonably interfere with Tenant’s use and occupancy of the Demised Premises (if Tenant is still occupying the Demised Premises). Base Rent and Additional Rent shall
proportionately abate during the time that the Demised Premises or any part thereof are unusable by reason of any such damage thereto. 

21.            Condemnation. 

(a)            If all of the Demised Premises is taken or
condemned for a public or quasi-public use, or if a material portion of the Demised Premises is taken or condemned for a public or quasi-public use and the remaining portion thereof is not usable by Tenant in the reasonable opinion of Landlord and
Tenant, this Lease shall terminate as of the earlier of the date title to the condemned real estate vests in the condemnor or the date on which Tenant is deprived of possession of the Demised Premises. In such event, the Base Rent herein reserved
and all Additional Rent and other sums payable hereunder shall be apportioned and paid in full by Tenant to Landlord to that date, all Base Rent, Additional Rent and other sums payable hereunder prepaid for periods beyond that date shall forthwith
be repaid by Landlord to 

  
 -12- 

 
Tenant, and neither party shall thereafter have any liability hereunder, except that any obligation or liability of either party, actual or contingent, under this Lease which has accrued on or
prior to such termination date shall survive. 

(b)            If only part of the Demised Premises is taken or
condemned for a public or quasi-public use and this Lease does not terminate pursuant to Section 21(a), Landlord shall, to the extent of the award it receives, restore the Demised Premises to a condition and to a size as nearly comparable as
reasonably possible to the condition and size thereof immediately prior to the taking, and there shall be an equitable adjustment to the Base Rent and Additional Rent based on the actual loss of use of the Demised Premises suffered by Tenant from
the taking. 
 (c)            Landlord shall be entitled to
receive the entire award in any proceeding with respect to any taking provided for in this Section 21, without deduction therefrom for any estate vested in Tenant by this Lease, and Tenant shall receive no part of such award. Nothing herein
contained shall be deemed to prohibit Tenant from making a separate claim, against the condemnor, to the extent permitted by law, for the value of Tenant’s moveable trade fixtures, machinery and moving expenses, provided that the making of such
claim shall not and does not adversely affect or diminish Landlord’s award. 

22.            Tenant’s Default. 

(a)            The occurrence of any one or more of the following
events shall constitute an “Event of Default” of Tenant under this Lease: 

(i)            if Tenant fails to pay Base Rent or any Additional
Rent hereunder as and when such rent becomes due and such failure shall continue for more than five (5) days after Landlord gives written notice to Tenant of such failure (provided, however, that if payment of any Base Rent or Additional Rent
required hereunder is by check, and following deposit thereof such check is rejected or returned due to insufficient funds, then, after the first such event in any calendar year, such event shall constitute an immediate Event of Default and no such
five (5) day notice and cure period shall be required); 

(ii)            if Tenant fails to pay Base Rent or any
Additional Rent on time more than three (3) times in any period of twelve (12) months, notwithstanding that such payments have been made within the applicable cure period; 

(iii)            if the Demised Premises become vacant, deserted,
or abandoned for more than ten (10) consecutive days or if Tenant fails to take possession of the Demised Premises on the Lease Commencement Date or promptly thereafter; 

(iv)            except as provided in Section 18(b), if
Tenant permits to be done anything which creates a lien upon the Demised Premises and fails to discharge or bond such lien, or post security with Landlord acceptable to Landlord within thirty (30) days after receipt by Tenant of written notice
thereof; 
 (v)            if Tenant fails to maintain in force
all policies of insurance required by this Lease and such failure shall continue for more than ten (10) days after Landlord gives Tenant written notice of such failure; 

(vi)            if any petition is filed by or against Tenant or
any guarantor of this Lease under any present or future section or chapter of the Bankruptcy Code, or under any similar law or statute of the United States or any state thereof (which, in the case of an involuntary proceeding, is not permanently
discharged, dismissed, stayed, or vacated, as the case may be, within sixty (60) days of commencement), or if any order for relief shall be entered against Tenant or any guarantor of this Lease in any such proceedings; 

(vii)            if Tenant or any guarantor of this Lease becomes
insolvent or makes a transfer in fraud of creditors or makes an assignment for the benefit of creditors; 

(viii)            if a receiver, custodian, or trustee is
appointed for the Demised Premises or for all or substantially all of the assets of Tenant or of any guarantor of this Lease, which appointment is not vacated within sixty (60) days following the date of such appointment; or 

(ix)            if Tenant fails to perform or observe any other
term of this Lease and such failure shall continue for more than thirty (30) days after Landlord gives Tenant written notice of such failure, or, if such failure cannot be corrected within such thirty (30) day period, if Tenant does not
commence to correct such default within said thirty (30) day period and thereafter diligently prosecute the correction of same to completion within a reasonable time. 

(b)            Upon the occurrence of any one or more Events of
Default, Landlord may, at Landlord’s option, without any demand or notice whatsoever (except as expressly required in this Section 22): 

  
 -13- 

(i)            Terminate this Lease by giving Tenant notice of
termination, in which event this Lease shall expire and terminate on the date specified in such notice of termination and all rights of Tenant under this Lease and in and to the Demised Premises shall terminate. Tenant shall remain liable for all
obligations under this Lease arising up to the date of such termination, and Tenant shall surrender the Demised Premises to Landlord on the date specified in such notice; or 

(ii)            Terminate this Lease as provided in
Section 22(b)(i) hereof and recover from Tenant all damages Landlord may incur by reason of Tenant’s default, including, without limitation, an amount which, at the date of such termination, is calculated as follows: (1) the value of
the excess, if any, of (A) the Base Rent, Additional Rent and all other sums which would have been payable hereunder by Tenant for the period commencing with the day following the date of such termination and ending with the Expiration Date had
this Lease not been terminated (the “Remaining Term”), over (B) the aggregate reasonable rental value (including an amount for Base Rent, Additional Rent and all other sums which would have been payable hereunder) of the Demised
Premises for the Remaining Term (which excess, if any shall be discounted to present value at the “Treasury Yield” as defined below for the Remaining Term); plus (2) the costs of recovering possession of the Demised Premises
and all other expenses incurred by Landlord due to Tenant’s default, including, without limitation, reasonable attorney’s fees; plus (3) the unpaid Base Rent and Additional Rent earned as of the date of termination plus any
interest and late fees due hereunder, plus other sums of money and damages owing on the date of termination by Tenant to Landlord under this Lease or in connection with the Demised Premises. The amount as calculated above shall be deemed immediately
due and payable. The payment of the amount calculated in subparagraph (ii)(1) shall not be deemed a penalty but shall merely constitute payment of liquidated damages, it being understood and acknowledged by Landlord and Tenant that actual damages to
Landlord are extremely difficult, if not impossible, to ascertain. “Treasury Yield” shall mean the rate of return in percent per annum of Treasury Constant Maturities for the length of time specified as published in document H.15(519)
(presently published by the Board of Governors of the U.S. Federal Reserve System titled “Federal Reserve Statistical Release”) for the calendar week immediately preceding the calendar week in which the termination occurs. If the rate of
return of Treasury Constant Maturities for the calendar week in question is not published on or before the business day preceding the date of the Treasury Yield in question is to become effective, then the Treasury Yield shall be based upon the rate
of return of Treasury Constant Maturities for the length of time specified for the most recent calendar week for which such publication has occurred. If no rate of return for Treasury Constant Maturities is published for the specific length of time
specified, the Treasury Yield for such length of time shall be the weighted average of the rates of return of Treasury Constant Maturities most nearly corresponding to the length of the applicable period specified. If the publishing of the rate of
return of Treasury Constant Maturities is ever discontinued, then the Treasury Yield shall be based upon the index which is published by the Board of Governors of the U.S. Federal Reserve System in replacement thereof or, if no such replacement
index is published, the index which, in Landlord’s reasonable determination, most nearly corresponds to the rate of return of Treasury Constant Maturities. In determining the aggregate reasonable rental value pursuant to subparagraph (ii)(1)(B)
above, the parties hereby agree that, at the time Landlord seeks to enforce this remedy, all relevant factors should be considered, including, but not limited to, (a) the length of time remaining in the Remaining Term, (b) the then current
market conditions in the general area in which the Building is located, (c) the likelihood of reletting the Demised Premises for a period of time equal to the remainder of the Term, (d) the net effective rental rates then being obtained by
landlords for similar type space of similar size in similar type buildings in the general area in which the Building is located, (e) the vacancy levels in the general area in which the Building is located, (f) current levels of new
construction that will be completed during the Remaining Term and how this construction will likely affect vacancy rates and rental rates and (g) inflation; or 

(iii)            Without terminating this Lease, declare
immediately due and payable the sum of the following: (1) the present value (calculated using the “Treasury Yield”) of all Base Rent and Additional Rent due and coming due under this Lease for the entire Remaining Term (as if by the
terms of this Lease they were payable in advance), plus (2) the cost of recovering and reletting the Demised Premises and all other expenses incurred by Landlord in connection with Tenant’s default, plus (3) any unpaid Base Rent,
Additional Rent and other rentals, charges, assessments and other sums owing by Tenant to Landlord under this Lease or in connection with the Demised Premises as of the date this provision is invoked by Landlord, plus (4) interest on all such
amounts from the date due at the Interest Rate, and Landlord may immediately proceed to distrain, collect, or bring action for such sum, or may file a proof of claim in any bankruptcy or insolvency proceedings to enforce payment thereof; provided,
however, that such payment shall not be deemed a penalty or liquidated damages, but shall merely constitute payment in advance of all Base Rent and Additional Rent payable hereunder throughout the Term, and provided further, however, that upon
Landlord receiving such payment, Tenant shall be entitled to receive from Landlord all rents received by Landlord from other assignees, tenants and subtenants on account of said Demised Premises during the remainder of the Term (provided that the
monies to which Tenant shall so become entitled shall in no event exceed the entire amount actually paid by Tenant to Landlord pursuant to this subparagraph (iii)), less all costs, expenses and attorneys’ fees of Landlord incurred but not yet
reimbursed by Tenant in connection with recovering and reletting the Demised Premises; or 

(iv)            Without terminating this Lease, in its own name
but as agent for Tenant, enter into and upon and take possession of the Demised Premises or any part thereof. Any property remaining in the Demised Premises may be removed and stored in a warehouse or elsewhere at the cost of, and for the account
of, Tenant without Landlord being deemed guilty of trespass or becoming liable for any loss or damage which may be occasioned thereby unless caused by Landlord’s negligence. Thereafter, 

  
 -14- 

 
Landlord may, but shall not be obligated to, lease to a third party the Demised Premises or any portion thereof as the agent of Tenant upon such terms and conditions as Landlord may deem
necessary or desirable in order to relet the Demised Premises. The remainder of any rentals received by Landlord from such reletting, after the payment of any indebtedness due hereunder from Tenant to Landlord, and the payment of any costs and
expenses of such reletting, shall be held by Landlord to the extent of and for application in payment of future rent owed by Tenant, if any, as the same may become due and payable hereunder. If such rentals received from such reletting shall at any
time or from time to time be less than sufficient to pay to Landlord the entire sums then due from Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Notwithstanding any such reletting without termination, Landlord may at any time
thereafter elect to terminate this Lease for any such previous default provided same has not been cured; or 

(v)            Without terminating this Lease, and with or
without notice to Tenant, enter into and upon the Demised Premises and, without being liable for prosecution or any claim for damages therefor, maintain the Demised Premises and repair or replace any damage thereto or do anything or make any payment
for which Tenant is responsible hereunder. Tenant shall reimburse Landlord immediately upon demand for any expenses which Landlord incurs in thus effecting Tenant’s compliance under this Lease and Landlord shall not be liable to Tenant for any
damages with respect thereto; or 
 (vi)            Without
liability to Tenant or any other party and without constituting a constructive or actual eviction, suspend or discontinue furnishing or rendering to Tenant any property, material, labor, utilities or other service, wherever Landlord is obligated to
furnish or render the same so long as an Event of Default exists under this Lease; or 

(vii)            With or without terminating this Lease, allow
the Demised Premises to remain unoccupied and collect rent from Tenant as it comes due; or 

(viii)            Pursue such other remedies as are available at
law or equity. 
 (c)            If this Lease shall terminate
as a result of or while there exists an Event of Default hereunder, any funds of Tenant held by Landlord may be applied by Landlord to any damages payable by Tenant (whether provided for herein or by law) as a result of such termination or default.

 (d)            Neither the commencement of any action or
proceeding, nor the settlement thereof, nor entry of judgment thereon shall bar Landlord from bringing subsequent actions or proceedings from time to time with respect to items other than any sum or sums then due hereunder. 

(e)            No agreement to accept a surrender of the Demised
Premises and no act or omission by Landlord or Landlord’s agents during the Term shall constitute an acceptance or surrender of the Demised Premises unless made in writing and signed by Landlord. No
re-entry or taking possession of the Demised Premises by Landlord shall constitute an election by Landlord to terminate this Lease unless a written notice of such intention is given to Tenant. No provision of
this Lease shall be deemed to have been waived by either party unless such waiver is in writing and signed by the party making such waiver. Landlord’s acceptance of Base Rent or Additional Rent in full or in part following an Event of Default
hereunder shall not be construed as a waiver of such Event of Default. No custom or practice which may grow up between the parties in connection with the terms of this Lease shall be construed to waive or lessen either party’s right to insist
upon strict performance of the terms of this Lease, without a written notice thereof to the other party. 

(f)            If an Event of Default shall occur, Tenant shall
pay to Landlord, on demand, all expenses incurred by Landlord as a result thereof, including reasonable attorneys’ fees, court costs and expenses actually incurred. 

23.            Landlord’s Right of Entry. Tenant
agrees to permit Landlord and the authorized representatives of Landlord and of Lender to enter upon the Demised Premises at all reasonable times for the purposes of inspecting the Demised Premises and Tenant’s compliance with this Lease, and
making any necessary repairs thereto; provided that, except in the case of an emergency, Landlord shall give Tenant reasonable prior notice of Landlord’s intended entry upon the Demised Premises. Nothing herein shall imply any duty upon the
part of Landlord to do any work required of Tenant hereunder, and the performance thereof by Landlord shall not constitute a waiver of Tenant’s default in failing to perform it. Landlord shall not be liable for inconvenience, annoyance,
disturbance or other damage to Tenant by reason of making such repairs or the performance of such work in the Demised Premises or on account of bringing materials, supplies and equipment into or through the Demised Premises during the course
thereof, and the obligations of Tenant under this Lease shall not thereby be affected; provided, however, that Landlord shall use reasonable efforts not to disturb or otherwise interfere with Tenant’s operations in the Demised
Premises in making such repairs or performing such work. Landlord also shall have the right, upon reasonable prior notice to Tenant, to enter the Demised Premises at all reasonable times to exhibit the Demised Premises to any prospective purchaser,
mortgagee or tenant thereof. 
 24.            Lender’s
Rights. 
 (a)            For purposes of this Lease: 

  
 -15- 

(i)            “Lender” as used herein means the holder
of a Mortgage; 
 (ii)            “Mortgage” as used
herein means any or all mortgages, deeds to secure debt, deeds of trust or other instruments in the nature thereof which may now or hereafter affect or encumber Landlord’s title to the Demised Premises, and any amendments, modifications,
extensions or renewals thereof. 
 (b)            This Lease
and all rights of Tenant hereunder are and shall be subject and subordinate to the lien and security title of any Mortgage provided that the holder of said Mortgage agrees in writing not to disturb Tenant’s possession of the Demised Premises so
long as Tenant is not in default hereunder beyond the expiration of any applicable notice and cure period. Tenant recognizes and acknowledges the right of Lender to foreclose or exercise the power of sale against the Demised Premises under any
Mortgage. 
 (c)            Within fifteen (15) days after
Landlord’s request, Tenant shall, in confirmation of the subordination set forth in Section 24(b) and notwithstanding the fact that such subordination is self-operative, and no further instrument or subordination shall be necessary,
execute, acknowledge, and deliver to Landlord or to Lender any and all instruments reasonably requested by either of them to evidence such subordination. 

(d)            At any time during the Term, Lender may, by
written notice to Tenant, make this Lease superior to the lien of its Mortgage. If requested by Lender, Tenant shall, upon demand, at any time or times, execute, acknowledge, and deliver to Lender, any and all instruments that may be necessary to
make this Lease superior to the lien of any Mortgage. 

(e)            If Lender (or Lender’s nominee, or other
purchaser at foreclosure) shall hereafter succeed to the rights of Landlord under this Lease, whether through possession or foreclosure action or delivery of a new lease, Tenant shall, if requested by such successor, attorn to and recognize such
successor as Tenant’s landlord under this Lease without change in the terms and provisions of this Lease and shall promptly execute and deliver any instrument that may be necessary to evidence such attornment, provided that such successor shall
not be bound by (i) any payment of Base Rent or Additional Rent for more than one month in advance, except prepayments in the nature of security for the performance by Tenant of its obligations under this Lease, and then only if such
prepayments have been deposited with and are under the control of such successor, (ii) any provision of any amendment to the Lease to which Lender has not consented, (iii) the defaults of any prior landlord under this Lease, or
(iv) any offset rights arising out of the defaults of any prior landlord under this Lease. Upon such attornment, this Lease shall continue in full force and effect as a direct lease between each successor landlord and Tenant, subject to all of
the terms, covenants and conditions of this Lease. 

(f)            In the event there is a Mortgage at any time
during the Term, Landlord shall, at Tenant’s request, use commercially reasonable efforts to cause the Lender to enter into a subordination, nondisturbance and attornment agreement with Tenant reasonably satisfactory to Tenant and consistent
with this Section 24. 
 25.            Estoppel
Certificate and Financial Statement. 

(a)            Landlord and Tenant agree, at any time, and from
time to time, within fifteen (15) days after written request of the other, to execute, acknowledge and deliver a statement in writing in recordable form to the requesting party and/or its designee certifying that: (i) 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), (ii) the dates to which Base Rent, Additional Rent and other charges have been paid, (iii) whether or not,
to the best of its knowledge, there exists any failure by the requesting party to perform any term, covenant or condition contained in this Lease, and, if so, specifying each such failure, (iv) (if such be the case) Tenant has unconditionally
accepted the Demised Premises and is conducting its business therein, and (v) and as to such additional matters as may be requested, it being intended that any such statement delivered pursuant hereto may be relied upon by the requesting party
and by any purchaser of title to the Demised Premises or by any mortgagee or any assignee thereof or any party to any sale-leaseback of the Demised Premises, or the landlord under a ground lease affecting the Demised Premises. 

(b)            If Landlord desires to finance, refinance, or sell
the Building, Tenant and all guarantors of Tenant’s obligations hereunder, if any, shall deliver to any potential lender or purchaser designated by Landlord such financial statements of Tenant and such guarantors as may be reasonably required
by such lender or purchaser, including but not limited to Tenant’s financial statements for the past 3 years. All such financial statements shall be received by Landlord and such lender or purchaser in confidence and shall be used only for the
purposes herein set forth. 
 26.            Landlord
Liability. NO OWNER OF THE DEMISED PREMISES, WHETHER OR NOT NAMED HEREIN, SHALL HAVE LIABILITY HEREUNDER AFTER IT CEASES TO HOLD TITLE TO THE DEMISED PREMISES. NEITHER LANDLORD NOR ANY OFFICER, DIRECTOR, SHAREHOLDER, PARTNER OR PRINCIPAL OF
LANDLORD, WHETHER DISCLOSED OR UNDISCLOSED, SHALL BE UNDER ANY PERSONAL LIABILITY WITH RESPECT TO ANY OF THE PROVISIONS OF THIS LEASE. IN THE EVENT LANDLORD IS IN BREACH OR DEFAULT 

  
 -16- 

 
WITH RESPECT TO LANDLORD’S OBLIGATIONS OR OTHERWISE UNDER THIS LEASE, TENANT SHALL LOOK SOLELY TO THE EQUITY OF LANDLORD IN THE BUILDING FOR THE SATISFACTION OF TENANT’S REMEDIES. IT IS
EXPRESSLY UNDERSTOOD AND AGREED THAT LANDLORD’S LIABILITY UNDER THE TERMS, COVENANTS, CONDITIONS, WARRANTIES AND OBLIGATIONS OF THIS LEASE SHALL IN NO EVENT EXCEED LANDLORD’S EQUITY INTEREST IN THE BUILDING. 

27.            Notices. Any notice required or permitted to
be given or served by either party to this Lease shall be deemed given when made in writing, and either (i) personally delivered, (ii) delivered by facsimile with the original to follow as soon thereafter as practicable via one of the
other methods set forth in this Section 27, (iii) deposited with the United States Postal Service, postage prepaid, by registered or certified mail, return receipt requested, or (iv) delivered by a nationally recognized overnight delivery
service providing proof of delivery, properly addressed to the address set forth in Section 1(m) (as the same may be changed by giving written notice of the aforesaid in accordance with this Section 27). If any notice mailed is properly
addressed with appropriate postage but returned for any reason, such notice shall be deemed to be effective notice and to be given on the date of mailing. Any notice required or permitted to be given or served by Landlord or Tenant to this Lease may
be given by either an agent, law firm or attorney acting on behalf of Landlord or Tenant. 

28.            Brokers. Tenant represents and warrants to
Landlord that, except for those parties set forth in Section 1(o) (the “Brokers”), Tenant has not engaged or had any conversations or negotiations with any broker, finder or other third party concerning the leasing of the Demised Premises
to Tenant who would be entitled to any commission or fee based on the execution of this Lease. Tenant hereby further represents and warrants to Landlord that Tenant is not receiving and is not entitled to receive any rebate, payment or other
remuneration, either directly or indirectly, from the Brokers, and that it is not otherwise sharing in or entitled to share in any commission or fee paid to the Brokers by Landlord or any other party in connection with the execution of this Lease,
either directly or indirectly. Tenant hereby indemnifies Landlord against and from any claims for any brokerage commissions (except those payable to the Brokers, all of which are payable by Landlord pursuant to a separate agreement) and all costs,
expenses and liabilities in connection therewith, including, without limitation, reasonable attorneys’ fees and expenses, for any breach of the foregoing. The foregoing indemnification shall survive the termination of this Lease for any reason.

 29.            Assignment and Subleasing. 

(a)            Tenant may not assign, mortgage, pledge, encumber
or otherwise transfer this Lease, or any interest hereunder, or sublet the Demised Premises, in whole or in part, without on each occasion first obtaining the prior express written consent of Landlord, which consent Landlord shall not unreasonably
withhold, condition or delay. Any change in control of Tenant resulting from a merger, consolidation, stock transfer or asset sale shall be considered an assignment or transfer which requires Landlord’s prior written consent. For purposes of
this Section 29, (i) a transfer of greater than a fifty percent (50%) ownership interest in Tenant or its assets, either in one (1) transaction or a series of transactions shall be deemed to be a change in control of Tenant, and
(ii) by way of example and not limitation, Landlord shall be deemed to have reasonably withheld consent if Landlord determines (x) that the prospective assignee or subtenant is not of a financial strength similar to Tenant as of the Lease
Date, (y) that the prospective assignee or subtenant has a poor business reputation, (z) that the proposed use of the Demised Premises by such prospective assignee or subtenant (including, without limitation, a use involving the use or
handling of Hazardous Substances) will negatively affect the value or marketability of the Building or the Project or (iv) that the prospective assignee or subtenant is a current tenant in the Project or is a bona-fide third-party prospective
tenant. 
 (b)            Notwithstanding Section 29(a)
above, provided that there then exists no Event of Default under this Lease which remains uncured, Tenant shall have the right, upon thirty (30) days’ prior written notice to Landlord but without Landlord’s prior consent to assign
this Lease to any related entity which controls Tenant, is controlled by Tenant or is under common control with Tenant (a “Related Assignment”). The provisions of subsection 29(c) below shall not apply to any Related Assignment. 

(c)            If Tenant desires to assign this Lease or sublet
the Demised Premises or any part thereof, Tenant shall give Landlord written notice no later than forty-five (45) days in advance of the proposed effective date of any proposed assignment or sublease, specifying (i) the name and business
of the proposed assignee or sublessee, (ii) the amount and location of the space within the Demised Premises proposed to be subleased, (iii) the proposed effective date and duration of the assignment or subletting and (iv) the
proposed rent or consideration to be paid to Tenant by such assignee or sublessee. Tenant shall promptly supply Landlord with financial statements and other information as Landlord may reasonably request to evaluate the proposed assignment or
sublease. Landlord shall have a period of thirty (30) days following receipt of such notice and other information requested by Landlord within which to notify Tenant in writing that Landlord elects: (i) to terminate this Lease as to the
space so affected as of the proposed effective date set forth in Tenant’s notice, in which event Tenant shall be relieved of all further obligations hereunder as to such space, except for obligations under Sections 11 and 28 and all other
provisions of this Lease which expressly survive the termination hereof; or (ii) to permit Tenant to assign or sublet such space; provided, however, that, if the rent rate agreed upon between Tenant and its proposed subtenant is
greater than the rent rate that Tenant must pay Landlord hereunder for that portion of the Demised Premises, or if any consideration shall be promised to or received by Tenant in connection with such

  
 -17- 

 proposed assignment or sublease (in addition to rent), then one half (1/2) of such excess
rent and other consideration (after payment of brokerage commissions, attorneys’ fees and other disbursements reasonably incurred by Tenant for such assignment and subletting if acceptable evidence of such disbursements is delivered to
Landlord) shall be considered Additional Rent owed by Tenant to Landlord, and shall be paid by Tenant to Landlord, in the case of excess rent, in the same manner that Tenant pays Base Rent and, in the case of any other consideration, within ten
(10) business days after receipt thereof by Tenant; or (iii) to refuse, in Landlord’s reasonable discretion (taking into account all relevant factors including, without limitation, the factors set forth in the Section 29(a)
above), to consent to Tenant’s assignment or subleasing of such space and to continue this Lease in full force and effect as to the entire Demised Premises. If Landlord should fail to notify Tenant in writing of such election within the
aforesaid thirty (30) day period, Landlord shall be deemed to have elected option (iii) above. Tenant agrees to reimburse Landlord for reasonable legal fees and any other reasonable costs incurred by Landlord in connection with any
requested assignment or subletting, and such payments shall not be deducted from the Additional Rent owed to Landlord pursuant to subsection (ii) above. Tenant shall deliver to Landlord copies of all documents executed in connection with any
permitted assignment or subletting, which documents shall be in form and substance reasonably satisfactory to Landlord and which shall require such assignee to assume performance of all terms of this Lease on Tenant’s part to be performed. 

(d)            No acceptance by Landlord of any rent or any other
sum of money from any assignee, sublessee or other category of transferee shall be deemed to constitute Landlord’s consent to any assignment, sublease, or transfer. Permitted subtenants or assignees shall become liable directly to Landlord for
all obligations of Tenant hereunder, without, however, relieving Tenant of any of its liability hereunder. No such assignment, subletting, occupancy or collection shall be deemed the acceptance of the assignee, tenant or occupant, as Tenant, or a
release of Tenant from the further performance by Tenant of Tenant’s obligations under this Lease. Any assignment or sublease consented to by Landlord shall not relieve Tenant (or its assignee) from obtaining Landlord’s consent to any
subsequent assignment or sublease. 

30.            Termination or Expiration. 

(a)            No termination of this Lease prior to the normal
ending thereof, by lapse of time or otherwise, shall affect Landlord’s right to collect rent for the period prior to termination thereof. Notwithstanding anything to the contrary contained herein, if this Lease is rejected in any bankruptcy
action or proceeding filed by or against Tenant, and the effective date of rejection is on or after the date upon which that month’s Rent is due and owing, then the Rent owing under this Lease for the month during which the effective date of
such rejection occurs shall be due and payable in full and shall not be prorated. 

(b)            At the expiration or earlier termination of the
Term of this Lease, Tenant shall surrender the Demised Premises and all improvements, alterations and additions thereto, and keys therefor to Landlord, clean and neat, and in the same condition as at the Lease Commencement Date, excepting normal
wear and tear, condemnation and casualty other than that required to be insured against by Tenant hereunder. 

(c)            If Tenant remains in possession of the Demised
Premises after expiration of the Term, with or without Landlord’s acquiescence and without any express agreement of the parties, Tenant shall be a
tenant-at-sufferance at the greater of (i) one hundred fifty percent (150%) of the then current fair market base rental value of the Demised Premises or
(ii) one hundred fifty percent (150%) of the Base Rent in effect at the end of the Term. Tenant shall also continue to pay all other Additional Rent due hereunder. Notwithstanding the foregoing, there shall be no renewal of this Lease by
operation of law or otherwise, and, in addition to and without limiting such rights and remedies as may be available to Landlord at law or in equity as a result of Tenant’s holding over beyond the Term, Landlord shall be entitled to exercise
any and all rights and remedies available to Landlord in respect of an Event of Default hereunder (it being agreed that any such holdover shall be deemed an immediate Event of Default hereunder). In addition to the foregoing, Tenant shall be liable
for all damages, direct and consequential, incurred by Landlord as a result of such holdover. No receipt of money by Landlord from Tenant after the termination of this Lease or Tenant’s right of possession of the Demised Premises shall
reinstate, continue or extend the Term or Tenant’s right of possession. The provisions of this subsection 30(c) shall survive the expiration of the Term. 

31.            Intentionally Deleted. 

32.            Late Payments. In the event any installment
of rent, inclusive of Base Rent, or Additional Rent or other sums due hereunder, if any, is not paid within five (5) days after the due date therefor, Tenant shall pay an administrative fee (the “Administrative Fee”) equal to five
percent (5%) of such past due amount, plus interest on the amount past due at the lesser of (i) the maximum interest rate allowed by law or (ii) a rate of fifteen percent (15%) per annum (the “Interest Rate”), in order to defray
the additional expenses incurred by Landlord as a result of such late payment. The Administrative Fee is in addition to, and not in lieu of, any of the Landlord’s remedies hereunder. 

33.            Rules and Regulations. Tenant agrees to
abide by the rules and regulations set forth on Exhibit D attached hereto, as well as other rules and regulations reasonably promulgated by Landlord from 

  
 -18- 

 
time to time, so long as such other rules and regulations do not materially and adversely affect the rights of Tenant hereunder. 

34.            Quiet Enjoyment. So long as Tenant has not
committed an Event of Default hereunder, Landlord agrees that Tenant shall have the right to quietly use and enjoy the Demised Premises for the Term. 

35.            Miscellaneous. 

(a)            The parties hereto hereby covenant and agree that
Landlord shall receive the Base Rent, Additional Rent and all other sums payable by Tenant hereinabove provided as net income from the Demised Premises, without any abatement (except as set forth in Section 20 and Section 21), reduction,
set-off, counterclaim, defense or deduction whatsoever. 

(b)            If any clause or provision of this Lease is
determined to be illegal, invalid or unenforceable under present or future laws effective during the Term, then and in that event, it is the intention of the parties hereto that the remainder of this Lease shall not be affected thereby, and that in
lieu of such illegal, invalid or unenforceable clause or provision there shall be substituted a clause or provision as similar in terms to such illegal, invalid or unenforceable clause or provision as may be possible and be legal, valid and
enforceable. 
 (c)            All rights, powers, and
privileges conferred hereunder upon the parties hereto shall be cumulative, but not restrictive to those given by law. 

(d)            TIME IS OF THE ESSENCE OF THIS LEASE. 

(e)            No failure of Landlord or Tenant to exercise any
power given Landlord or Tenant hereunder or to insist upon strict compliance by Landlord or Tenant with its obligations hereunder, and no custom or practice of the parties at variance with the terms hereof shall constitute a waiver of
Landlord’s or Tenant’s rights to demand exact compliance with the terms hereof. 

(f)            This Lease contains the entire agreement of the
parties hereto as to the subject matter of this Lease and no prior representations, inducements, letters of intent, promises or agreements, oral or otherwise, between the parties not embodied herein shall be of any force and effect. Any future
amendment to this Lease must be in writing and signed by the parties hereto. The masculine (or neuter) pronoun, singular number shall include the masculine, feminine and neuter gender and the singular and plural number. 

(g)            This contract shall create the relationship of
landlord and tenant between Landlord and Tenant; no estate shall pass out of Landlord; Tenant has a usufruct, not subject to levy and sale, and not assignable by Tenant except as expressly set forth herein. 

(h)            Under no circumstances shall Tenant have the right
to record this Lease or a memorandum thereof. 

(i)            The captions of this Lease are for convenience
only and are not a part of this Lease, and do not in any way define, limit, describe or amplify the terms or provisions of this Lease or the scope or intent thereof. 

(j)            This Lease may be executed in multiple
counterparts, each of which shall constitute an original, but all of which taken together shall constitute one and the same agreement. 

(k)            This Lease shall be interpreted under the laws of
the State where the Demised Premises are located. 

(l)            The parties acknowledge that this Lease is the
result of negotiations between the parties, and in construing any ambiguity hereunder no presumption shall be made in favor of either party. No inference shall be made from any item which has been stricken from this Lease other than the deletion of
such item. 
 36.            Special Stipulations. The
Special Stipulations, if any, attached hereto as Exhibit C, are incorporated herein and made a part hereof, and to the extent of any conflict between the foregoing provisions and the Special Stipulations, the Special Stipulations shall govern
and control. 
 37.            Lease Date. For purposes
of this Lease, the term “Lease Date” shall mean the later date upon which this Lease is signed by Landlord and Tenant. 

38.            Authority. If Tenant is not a natural
person, Tenant shall cause its corporate secretary or general partner, as applicable, to execute the certificate attached hereto as Exhibit E. Tenant is authorized by all required corporate or partnership action to enter into this Lease and
the individual(s) signing this Lease on behalf of Tenant are each authorized to bind Tenant to its terms. 

  
 -19- 

39.            No Offer Until Executed. The submission of
this Lease by Landlord to Tenant for examination or consideration does not constitute an offer by Landlord to lease the Demised Premises and this Lease shall become effective, if at all, only upon the execution and delivery thereof by Landlord and
Tenant. Execution and delivery of this Lease by Tenant to Landlord constitutes an offer to lease the Demised Premises on the terms contained herein. The offer by Tenant will be irrevocable until 6:00 p.m. Eastern time for fifteen (15) days
after the date of execution of this Lease by Tenant and delivery to Landlord. 

  
 -20- 

 IN WITNESS WHEREOF, the parties hereto have hereunto set their hands under
seals, the day and year first above written. 
  

							
		 		 	 LANDLORD:

	 Date: Sept 25, 2008
	 		 	
		 		 	 141 KNOWLTON WAY, LLC, a Delaware limited liability

company

			
		 		 	 By:        IPA Acquisition II, LLC, a Delaware limited

liability company, its sole member

			
		 		 	 By:        IDI Holdings IV, LLC, a Delaware limited liability

company, its managing member

				
		 		 	 By:
	 	     /s/ Timothy J. Gunter

		 		 		 	
                       
                                         
                                         
                                         
                                         
                       

		 		 		 	     Timothy J. Gunter

		 		 		 	     Manager

  

							
		 		 	 TENANT:

	
Date:                    
	 		 	
		 		 	 DIRTT ENVIRONMENTAL SOLUTIONS, INC.,

a Colorado corporation

				
		 		 	 By:
	 	
                       
                                         
                   

		 		 		 	 Name: Scott Jenkins

Title: Treasurer and Secretary

			
		 		 	 Attest:
                                         
                                        

		 		 		 	  Name: Tracy Baker

 Title: Chief Operating Officer

				
		 		 		 	[CORPORATE SEAL]                            

  
 -21- 

 IN WITNESS WHEREOF, the parties hereto have hereunto set their hands under
seals, the day and year first above written. 
  

							
		 		 	 LANDLORD:

	
Date:                    
	 		 	
		 		 	 141 KNOWLTON WAY, LLC, a Delaware limited liability company

			
		 		 	 By:        IPA Acquisition II, LLC, a Delaware limited liability
company, its sole member

			
		 		 	 By:        IDI Holdings IV, LLC, a Delaware limited liability company,
its managing member

			
		 		 	 By:
                                         
                                         
       

		 		 	     
	 	         Timothy J. Gunter

        Manager

  

							
		 		 	 TENANT:

			
	 Date: Oct. 2, 2008
	 		 	 DIRTT ENVIRONMENTAL SOLUTIONS, INC.,

a Colorado corporation

				
		 		 	 By:
	 	 /s/ Scott Jenkins

		 		 		 	
                       
                                         
                                         
                                         
                                         
                       

		 		 		 	 Name: Scott Jenkins

		 		 		 	 Title: Treasurer and Secretary

			
		 		 	 Attest: /s/ Tracy Baker

		 		 		 	
                       
                                         
                                         
                                         
                                         
                       

		 		 		 	   Name: Tracy Baker

  Title: Chief Operating Officer

				
		 		 		 	[CORPORATE
SEAL]                                    

  
 -21- 

 ATTESTATION 

Landlord: 
 STATE OF
Georgia 
 COUNTY OF DeKalb 

BEFORE ME, a Notary Public in and for said County, personally appeared Timothy J. Gunter, known to me to be the person who, as
Manager of IDI Holdings IV, LLC, the company which executed the foregoing instrument in its capacity as managing member of IPA Acquisition II, LLC, in its capacity as sole member of Landlord, signed the same, and acknowledged to me that he did so
sign said instrument in the name and upon behalf of said company, in the aforesaid capacities, that the same is his free act and deed and he was duly authorized thereunto by the company. 

IN TESTIMONY WHEREOF, I have hereunto subscribed my name, and affixed my official seal, this 25 day of Sept,
2008. 
  

					
		 	 /s/ Charlotte Robinson

		 	  

		 	 Notary Public
	  	
			
		 	 My Commission Expires:
	  	CHARLOTTE ROBINSON
Notary Public, DeKalb County, Georgia
My Commission Expires Oct. 11, 2009

 Tenant - Corporation: 

PROVINCE OF
                             

CITY OF
                             

BEFORE ME, a Notary Public in and for said County, personally appeared Scott Jenkins and Tracy Baker, known to me to be the
person(s) who, as Treasurer and Secretary and Chief Operating Officer, respectively, of DIRTT Environmental Solutions, Inc., a Colorado corporation, the corporation which executed the foregoing instrument in its capacity as Tenant, signed the same,
and acknowledged to me that they did so sign said instrument in the name and upon behalf of said corporation as officers of said corporation, that the same is their free act and deed as such officers, respectively, and they were duly authorized
thereunto by its board of directors; and that the seal affixed to said instrument is the corporate seal of said corporation. 

IN TESTIMONY WHEREOF, I have hereunto subscribed my name, and affixed my official seal, this
         day of                               ,
2008. 
  

					
		 	  

		 	 Notary Public
	  	
			
		 	 My Commission Expires:
	  	

  
 -22- 

 ATTESTATION 

Landlord: 
 STATE OF
                                 

COUNTY OF
                             

BEFORE ME, a Notary Public in and for said County, personally appeared Timothy J. Gunter, known to me to be the person who, as
Manager of IDI Holdings IV, LLC, the company which executed the foregoing instrument in its capacity as managing member of IPA Acquisition II, LLC, in its capacity as sole member of Landlord, signed the same, and acknowledged to me that he did so
sign said instrument in the name and upon behalf of said company, in the aforesaid capacities, that the same is his free act and deed and he was duly authorized thereunto by the company. 

IN TESTIMONY WHEREOF, I have hereunto subscribed my name, and affixed my official seal, this
         day of                        , 2008. 

 

			
	  
	 	                 

	 Notary Public
	 	
		
	 My Commission Expires:
	 	

 Tenant - Corporation: 

PROVINCE OF  Alberta   

CITY OF  Calgary   

BEFORE ME, a Notary Public in and for said County, personally appeared Scott Jenkins and Tracy Baker, known to me to be the
person(s) who, as Treasurer and Secretary and Chief Operating Officer, respectively, of DIRTT Environmental Solutions, Inc., a Colorado corporation, the corporation which executed the foregoing instrument in its capacity as Tenant, signed the same,
and acknowledged to me that they did so sign said instrument in the name and upon behalf of said corporation as officers of said corporation, that the same is their free act and deed as such officers, respectively, and they were duly authorized
thereunto by its board of directors; and that the seal affixed to said instrument is the corporate seal of said corporation. 

IN TESTIMONY WHEREOF, I have hereunto subscribed my name, and affixed my official seal, this 2nd day of October,
2008. 
  

			
	/s/ Beth Younggren	 	            
	  
	 	  

	 Notary Public
	 	
		
	 My Commission Expires:
	 	
                

 
			
		
	 At the pleasure of the
 lieutenant governor
in council
	 	 Beth Younggren

Student-at-Law

  
 -22- 

 EXHIBIT A 

Demised Premises 
  

 

  
 a-1 

 EXHIBIT B 

Preliminary Plans and Specifications 

General 
  

	•	 	 All work will be permitted by Tenant’s General Contractor as required by the local authorities.

  

	•	 	 Work performed by the Tenant’s contractors (such as racking, modular furniture installation, low voltage
wiring, etc.) must be permitted if required. 

  

	•	 	 Prior to any contractors mobilizing on site Landlord must receive proof of adequate insurance listing
Landlord, or affiliated entity, as additional insured for the specific work. 

  

	•	 	 All work done in occupied buildings must be done in accordance with the Landlord’s Rules &
Regulations. 

  

	•	 	 Landlord will receive drawings for review prior to constructions, and a final set of “as-built” drawings once the work is complete. 

  

	•	 	 The Tenant can not occupy (any part of) the facility until the local authorities have issued an occupancy
permit (such as a Temporary or Permanent Certificate of Occupancy, or a Use Permit). 

 Minimum Improvements Required by Landlord to be
installed by Tenant 
  

			
	 Lighting:
	 	 T-5HO lighting interfaced with skylights for energy conservation, to provide 30 FC
average at 3’ AFF assuming 10% racking.

		
	 Electrical:
	 	 2500 amp/ 4 wire/ 3 phase/ 480 volts services; Ten (10) 220 volt electric drops and (40) 110 volt electric drops
included.

		
	 HVAC:
	 	 Warehouse will be folly air-conditioned at a tonnage density of 1,000 sf per ton
for a total of 70 TONS inclusive of all related work and GC OH&P.

		
	 Drive-in Door:
	 	 One (1) motorized 12’ x 16’ drive-in door with ramp

		
	 Dock – High Doors:
	 	 Eight (8) 9’ x 10’ manual lift doors equipped with:

		 	 •   35,0001b, 6’ x 8’ mechanical dock levers,
Rite-Hite ML 986

		 	 •   20” dock bumpers, Frommelt seals, Chock
blocks

		
	 Misc:
	 	 Additional items provided:

		 	 •   All floor slabs caulked.

		 	 •   Four forklift chargers with epoxy coating on
floor.

		 	 •   Life safety signage.

		
	 Demising Wall
	 	 The Tenant’s space will be separated from the adjoining tenant with a one hour rated drywall demising wall constructed
of 6” or 8” studs and 5/8” drywall from floor to deck. The wall will be insulated as required by code and will be fire taped, and unpainted. All penetrations will be fire caulked. Plywood wainscoting, other types of protection, and
cove base are not included at this wall.

 Tenant Office Improvements 

Approximately 16,000 square feet of Class A, office and showroom space plus ancillary support functions including
lockers and food-service. DIRTT modular interior wall panels will be utilized. 

  
 b-1 

 EXHIBIT B (continued) 

Preliminary Plans and Specifications 
  

 

  
 b-2 

 EXHIBIT C 

Special Stipulations 

The Special Stipulations set forth herein are hereby incorporated into the body of the lease to which these Special
Stipulations are attached (the “Lease”), and to the extent of any conflict between these Special Stipulations and the preceding language, these Special Stipulations shall govern and control. 

1.            SEDA Lease. Tenant acknowledges and agrees that fee title to
the Building is currently vested in the Savannah Economic Development Authority (“SEDA”) and that, notwithstanding the use of the term “Landlord” throughout this document, Landlord is the lessee of the Building and the land upon
which the same is located under and by virtue of that certain Lease Agreement by and between SEDA and Landlord dated June 30, 2006 (the “SEDA Lease”), a memorandum of which is recorded in Book 30841, Page 571 of the Chatham County,
Georgia public records. As a result, and notwithstanding the use of the term “Lease” throughout this document, this Lease actually constitutes a sublease between Landlord and Tenant (and Landlord and Tenant are actually sublessor and
sublessee hereunder), and this Lease is subject and subordinate to the terms and conditions of the SEDA Lease (which terms and conditions are hereby incorporated herein by reference). Upon the termination or expiration of the SEDA Lease, this Lease
shall automatically become a primary lease for the remainder of the Term of this Lease. 

2.            PILOT Program. The Building currently receives a tax
abatement through the Payment in Lieu of Taxes (“PILOT”) program administered by SEDA. The rate of tax abatement in the future is dependent on the total job creation and other criteria as determined by SEDA. The abatement can range from 0%
to 70%. Tenant shall have the right to participate with Landlord on the negotiation of the PILOT payment. Landlord covenants that it will not voluntarily terminate the SEDA Lease during the period Tenant is receiving a tax abatement under the PILOT
program without the prior consent of Tenant, which consent shall not be unreasonably withheld, conditioned or delayed. 

3.            Option to Extend Term. 

(a)            Landlord hereby grants to Tenant three
(3) consecutive options to extend the Term for a period of five (5) years each time, each such option to be exercised by Tenant giving written notice of its exercise to Landlord in the manner provided in this Lease at least two hundred
seventy (270) days prior to (but not more than three hundred sixty-five (365) days prior to) the expiration of the Term, as it may have been previously extended. No extension option may be exercised by Tenant if an Event of Default has
occurred and is then continuing or any facts or circumstances then exist which, with the giving of notice or the passage of time, or both, would constitute an Event of Default either at the time of exercise of the option or at the time the
applicable Term would otherwise have expired if the applicable option had not been exercised. 

(b)            If Tenant exercises its option[s] to extend the
Term, Landlord shall, within thirty (30) days after the receipt of Tenant’s notice of exercise, notify Tenant in writing of Landlord’s reasonable determination of the Base Rent for the Demised Premises for the applicable five
(5) year option period, which amount shall be determined using a per square foot rental rate not less than the Base Rental rate to be in effect immediately prior to the commencement of such option period, taking into account all relevant
factors for space of this type in the Chatham County, Georgia area. Tenant shall have thirty (30) days from its receipt of Landlord’s notice to notify Landlord in writing that Tenant does not agree with Landlord’s determination of the
Base Rent and therefore that Tenant elects to retract its option to extend the Term, in which case the Term, as it may have been previously extended, shall expire on its scheduled expiration date and Tenant’s option to extend the Term shall be
void and of no further force and effect. If Tenant does not notify Landlord of such retraction within thirty (30) days of its receipt of Landlord’s notice, Base Rent for the Demised Premises for the applicable extended term shall be the
Base Rent set forth in Landlord’s notice to Tenant. 

(c)            Except for the Base Rent, which shall be determined
as set forth in subparagraph (b) above, leasing of the Demised Premises by Tenant for the applicable extended term shall be subject to all of the same terms and conditions set forth in this Lease, including Tenant’s obligation to pay
Tenant’s share of Operating Expenses as provided in this Lease; provided, however, that any improvement allowances, termination rights, rent abatements or other concessions applicable to the Demised Premises during the initial Term shall not be
applicable during any such extended term, nor shall Tenant have any additional extension options unless expressly provided for in this Lease. Landlord and Tenant shall enter into an amendment to this Lease to evidence Tenant’s exercise of its
renewal option. If this Lease is guaranteed, it shall be a condition of Landlord’s granting the renewal that Tenant deliver to Landlord a reaffirmation of the guaranty in which the guarantor acknowledges Tenant’s exercise of its renewal
option and reaffirms that the guaranty is in full force and effect and applies to said renewal. 

  
 c-1 

 4.            Operating
Expenses - Cap on Controllable Expenses. Beginning after the first (1st) full calendar year during the Primary Term, in the event that the amount of Operating Expenses for the Building
attributable to all items other than taxes, utilities, insurance (including any commercially reasonable deductibles), snow removal, capital expenditures, including Code Modifications (as allowed under this Lease), management fees and
charges assessed against or attributed to the Building pursuant to any applicable declaration of protective covenants (Operating Expenses attributable to all such other items being referred to collectively herein as “Controllable
Expenses”) in any calendar year after such first (1st) full calendar year exceeds the amount attributable to Controllable Expenses for the Building during the immediately preceding calendar
year by more than ten percent (10%) (the “Cap”), then the amount attributable to Controllable Expenses for the Building, for purposes of determining the amount of Tenant’s proportionate share of Operating Expenses only (as
Tenant’s proportionate share may have been adjusted to account for any changes in the size of the Demised Premises due to expansions or contractions), shall be limited to the amount attributable to Controllable Expenses for the Building for the
immediately preceding calendar year multiplied by the sum of one hundred percent (100%) and the Cap. If the Building was not fully leased during such immediately preceding calendar year, then Operating Expenses for the Building shall be
“grossed -up” (as if the Building had been fully leased for the entirety of such immediately preceding calendar year) on such basis as Landlord may reasonably determine for purposes of determining
the application of this Special Stipulation to the year in question. Landlord covenants that Tenant’s share of the cost of the insurance required to be maintained by Landlord under this Lease for the first Lease Year shall not exceed $0.06 per
square foot. 
 5.            Parking. During the Term, Landlord shall
make available to Tenant, its employees, customers and visitors seventy-five (75) automobile parking spaces and eighteen (18) trailer parking spaces (on an exclusive basis) in the parking areas of the Building. Such parking shall be at no
additional cost to Tenant. Landlord shall have no duty or obligation to monitor or enforce the rights of Tenant with respect to the exclusive parking spaces; provided, however, that Landlord shall cooperate with Tenant, at no expense to Landlord, in
reasonable efforts by Tenant to enforce such rights of Tenant. A failure by other tenants in the Building and their customers, invitees and employees to observe the exclusive parking rights of Tenant under this Special Stipulation 5 shall never
constitute a default by Landlord under this Lease. Landlord reserves the right to relocate the exclusive parking spaces provided to Tenant to other areas of the parking areas of the Building upon thirty (30) days prior written notice to Tenant.

 6.            Building Compliance with Laws. Landlord represents and
warrants to Tenant that, to Landlord’s actual knowledge, the design and construction of the Building materially complies with all applicable federal, state, county and municipal laws, ordinances and codes in effect as of the Lease Date,
excepting therefrom any requirements related to Tenant’s specific use of the Demised Premises. 

7.            Landlord’s and Tenant’s Compliance with ADA.
Subject to the last sentence hereof, Landlord, at its sole cost and expense, shall be responsible for causing shell Building to comply with Title III of the Americans With Disabilities Act of 1990 (the “ADA”), or the regulations
promulgated thereunder (as said Title III is in effect and pertains to the general public), as of the Lease Commencement Date. During the Term, Tenant hereby agrees that it shall be responsible, at its sole cost and expense, for (a) causing the
Building, the Building Common Area and the Demised Premises to comply with Title III of the ADA as a result of (i) any special requirements of the ADA relating to accommodations for individual employees, invitees and/or guests of Tenant and
(ii) any improvements or alterations made to the Demised Premises by Tenant, and (b) complying with all obligations of Tenant under Title I of the ADA. 

8.            Lease Guaranty. Simultaneously with the execution of this
Lease by Tenant, Tenant shall cause DIRTT Environmental Solutions Ltd. to execute and deliver to Landlord a Guaranty in the form attached hereto as Exhibit F and by this reference made a part hereof. 

9.            Right of First Refusal to Lease. Landlord grants to Tenant
the right (the “First Refusal Right”) to lease the First Refusal Space, as hereinafter defined, at any time during the first three (3) years of the initial Term of this Lease on and subject to the following terms and conditions. No
First Refusal Right may be exercised by Tenant if an Event of Default has occurred and is then continuing or any facts or circumstances then exist which, with the giving of notice or the passage of time, or both, would constitute an Event of Default
at the time of exercise of the First Refusal Right. 

(a)            The “First Refusal Space” shall mean any
space adjacent to the Demised Premises that becomes available to lease in the Building during the Term. For purposes of this Special Stipulation 9, available shall mean that (i) the space is vacant, or the lease with the current tenant will
expire within three (3) months; and (ii) the current tenant does not have an option to renew its lease for the space (or the current tenant has an option to renew, but failed to exercise it). Further, the First Refusal Space must be no
less than three (3) entire bays and no more than five (5) entire bays. 

(b)            Should Landlord receive from a prospective third
party tenant a request for proposal or similar written correspondence with respect to the First Refusal Space (the “Third Party Request”), Landlord agrees promptly to so notify Tenant in writing of the Third Party Request, and Tenant shall
have a period of ten (10) business days after the date of the notice to Tenant within which to exercise the First 

  
 c-2 

 
Refusal Right (the “Acceptance Period”) by delivery to Landlord of written notice of its exercise on or before the last day of the Acceptance Period. If Tenant fails to duly and timely
exercise the First Refusal Right, or elects not to exercise the First Refusal Right, the same shall lapse, and be of no further force and effect, and Landlord shall be free to lease the First Refusal Space to the prospective third party tenant. In
the event Landlord fails to execute a lease with the third party tenant, the First Refusal Right shall remain in effect. 

(c)            Within thirty (30) business days after the
effective date of Tenant’s exercise of the First Refusal Right, Landlord and Tenant shall enter into an amendment to this Lease adding the First Refusal Space to the Premises, which amendment shall subject the First Refusal Space which is
contained in the Third Party Request, to the terms and provisions of this Lease (including, without limitation, the Base Rent) except that (a) Tenant’s Operating Expense Percentage shall be adjusted based upon the area of the First Refusal
Space, (b) the First Refusal Space shall be taken on an “as is” basis, (c) Landlord shall not provide an improvement allowance with respect to the First Refusal Space, (d) the Term shall be extended so that the Expiration Date
for the entire Demised Premises, including the First Refusal Space, shall be the date which is ten (10) years after the date of the amendment to this Lease which adds the First Refusal Space to the Demised Premises, and (e) the Base Rent
per square foot on the First Refusal Space shall equal the then prevailing Base Rent per square foot on the original Demised Premises and the Base Rent for the entire Demised Premises, inclusive of the First Refusal Space, will be escalated at three
(3%) percent per annum for the remaining Term of the Lease. 

  
 c-3 

 EXHIBIT D 

Rules And Regulations 

These Rules and Regulations have been adopted by Landlord for the mutual benefit and protection of all the tenants of the Building in order to
insure the safety, care and cleanliness of the Building and Building Common Area and the preservation of order therein. 

1.            The sidewalks shall not be obstructed or used for
any purpose other than ingress and egress. No tenant and no employees of any tenant shall go upon the roof of the Building without the consent of Landlord. 

2.            No awnings or other projections shall be attached to
the outside walls of the Building. 
 3.            The plumbing
fixtures shall not be used for any purpose other than those for which they were constructed, and no sweepings, rubbish, rags or other substances, including Hazardous Substances, shall be thrown therein. 

4.            No tenant shall cause or permit any objectionable or
offensive odors to be emitted from the Demised Premises. Smoking is prohibited within the Building and in outdoor areas located within twenty-five (25) feet of entry-ways, outdoor intakes and operable windows. 

5.            The Demised Premises shall not be used for
(i) an auction, “fire sale”, “liquidation sale”, “going out of business sale” or any similar such sale or activity, (ii) lodging or sleeping, or (iii) any immoral or illegal purposes. 

6.            No tenant shall make, or permit to be made any
unseemly or disturbing noises, sounds or vibrations or disturb or interfere with tenants of this or neighboring buildings or premises or those having business with them. 

7.            Each tenant must, upon the termination of this
tenancy, return to the Landlord all keys of stores, offices, and rooms, either furnished to, or otherwise procured by, such tenant, and in the event of the loss of any keys so furnished, such tenant shall pay to the Landlord the cost of replacing
the same or of changing the lock or locks opened by such lost key if Landlord shall deem it necessary to make such change. 

8.            Canvassing, soliciting and peddling in the Building
and the Project are prohibited and each tenant shall cooperate to prevent such activity. 

9.            Landlord will direct electricians as to where and
how telephone or telegraph wires are to be introduced. No boring or cutting for wires or stringing of wires will be allowed without written consent of Landlord. The location of telephones, call boxes and other office equipment affixed to the Demised
Premises shall be subject to the approval of Landlord. 

10.            Parking spaces associated with the Building are
intended for the exclusive use of passenger automobiles. Except for intermittent deliveries, no vehicles other than passenger automobiles may be parked in a parking space (other than spaces expressly designated for such purpose by Landlord for truck
parking) without the express written permission of Landlord. Trucks may be parked only in truck dock positions and in other paved areas expressly designated for such purpose by Landlord. Trailers may be parked only in paved areas expressly
designated for such purpose by Landlord. Neither trucks nor trailers may be parked or staged in (i) areas adjacent to truck docks, serving any portion of the Building, which are intended by Landlord for truck maneuvering or (ii) any
driveway, drive aisle or other paved area which provides ingress or egress for cars or trucks to or from any portion of the Building or any street adjoining the Building. 

11.            No tenant shall use any area within the Project for
storage purposes other than the interior of the Demised Premises. 

12.            Tenant will have the right to stripe or mark the
floor of the Building only in compliance with this rule. Landlord strongly encourages Tenant to stripe or otherwise mark the floor of the Building only with 3M floor striping tape. If Tenant elects to paint stripes or other markings on the floor of
the Building, all such paint must, prior to expiration or termination of this Lease, be removed by Tenant at its expense in accordance with this rule. Paint on the floor of the Building must be removed only by use of a chemical paint remover;
provided that the chemical used for removal must be permissible for such use under Environmental Laws and other Governmental Requirements and the chemical must be used (and all chemicals and removed paint must be disposed of) in accordance with
Environmental Laws and other Governmental Requirements. Under no circumstances may paint be removed from the floor of the Building by grinding, scraping or shot-blasting. After paint has been chemically removed in accordance with this rule, the
floor must be thoroughly cleaned to remove completely any chemical residue which might be present as a result of the removal process. 

  
 d-1 

13.            If Tenant installs any racking, equipment or
machinery in the Building which requires installation of bolts in the floor of the Building, Tenant must, prior to expiration or termination of this Lease, at the expense of Tenant, remove all such bolts in accordance with this rule. All bolts will
be cut or ground so that the top of the remaining portion of the bolt is at least one-quarter inch below the surface of the floor. All holes created by such removal of bolts must be filled with 100% epoxy,
which meets the standards set by the American Concrete Institute and which is color-matched to the floor being filled. 

  
 d-2 

 EXHIBIT E 

CERTIFICATE OF AUTHORITY 

CORPORATION 

The undersigned, Secretary of DIRTT Environmental Solutions, Inc., a Colorado corporation (“Tenant”), hereby
certifies as follows to 141 Knowlton Way, LLC, a Delaware limited liability company (“Landlord”), in connection with Tenant’s proposed lease of premises in the building located at 155 Knowlton Way, at Crossroads Business Center,
Chatham County, Georgia (the “Premises”): 
 1.        Tenant is duly
organized, validly existing and in good standing under the laws of the State of Colorado, and duly qualified to do business in the State of Georgia. 

2.        That the following named persons, acting individually, are each authorized
and empowered to negotiate and execute, on behalf of Tenant, a lease of the Premises and that the signature opposite the name of each individual is an authentic signature: 
  

					
	 Name
	    	 Title
	    	 Signature

			
	 Mogens Smed
	    	Chief Executive Officer	    	 /s/ Mogens Smed

		    		    	  

			
	 Scott Jenkins
	    	Treasurer and Secretary	    	 /s/ Scott Jenkins

		    		    	  

			
	 Tracy Baker
	    	Chief Operating Officer	    	 /s/ Tracy Baker

		    		    	  

 3.        That the foregoing authority was conferred
upon the person(s) named above by the Board of Directors of Tenant, at a duly convened meeting held October 2, 2008. 
  

					
	 /s/ Scott Jenkins, Secretary
	 			
	  
	 			
	 Scott Jenkins, Secretary
	 			
		
	[CORPORATE SEAL]	 			

  
 e-1 

 EXHIBIT F 

FORM OF GUARANTY 

GUARANTY 

THIS GUARANTY (this “Guaranty”), made and entered into this        day of
September, 2008, by DIRTT ENVIRONMENTAL SOLUTIONS LTD., a corporation organized under the laws of Alberta, Canada (hereinafter referred to as “Guarantor”) in favor of 141 KNOWLTON WAY, LLC, a Delaware limited liability company (hereinafter
called “Landlord”) and any subsequent owner or holder of the Lease (as hereinafter defined). 

R E C I T A L S : 

Landlord has entered into an Industrial Lease Agreement (“Lease”) with DIRTT Environmental Solutions, Inc. a
Colorado corporation (“Tenant”), in which Guarantor has a direct or indirect financial interest or affiliation, which Lease was executed by Tenant on September       , 2008, and provides for the leasing
to Tenant of approximately 81,000 square feet of space in a building located at 155 Knowlton Way, Savannah, Georgia within Crossroads Business Center, Chatham County, Georgia; and 

Landlord will not enter into the Lease unless Guarantor guarantees the obligations of Tenant under the Lease as set forth
herein; and 
 Guarantor derives benefits from the Lease to Tenant. 

NOW THEREFORE, as a material inducement to Landlord to enter into the Lease with Tenant, and for other good and valuable
consideration, the receipt and sufficiency of all of which are hereby acknowledged and confessed, Guarantor does hereby, irrevocably and unconditionally, warrant and represent unto and covenant and agree with Landlord as follows: 

1.            Guaranty - Guarantor hereby unconditionally
guarantees the full, faithful and punctual payment of all rent, additional rent and other amounts due to Landlord under the Lease (including during any holdover period) by Tenant and the full, faithful and punctual performance by Tenant of all the
terms, provisions and conditions of the Lease (including during any holdover period), together with interest or late charges on all of the foregoing as provided in the Lease and all other costs and expenses of collection (all of the foregoing
sometimes hereinafter referred to as the “Obligations”). 

2.            No Discharge - This Guaranty by Guarantor
shall continue for the benefit of Landlord notwithstanding (a) any extension, modification, amendment or alteration of the Lease, (b) any assignment of the Lease, with or without the consent of Landlord, unless otherwise agreed to in
writing by Landlord, (c) any bankruptcy, reorganization, or insolvency of Tenant or any successor or assignee thereof, or (d) any release, extension or modification of the liability of Tenant or any other party liable under the Lease or
any other guaranty of the Lease, unless otherwise agreed to in writing by Landlord. This Guaranty shall in all respects be a continuing, absolute and unconditional guaranty of payment and performance and shall remain in full force and effect
notwithstanding, without limitation, the death or incompetency of Guarantor or Tenant, or any proceeding, voluntary or involuntary, involving the bankruptcy, insolvency, receivership, reorganization, liquidation or arrangement of Guarantor or Tenant
or by any defense which Tenant may have by reason of the order, decree or decision of any court or administrative body resulting from any such proceeding. 

3.            Primarily Liable - This Guaranty is a
guaranty of payment and not of collection. The liability of Guarantor under this Guaranty shall be joint and several and primary and direct and in addition to any right of action which shall accrue to Landlord under the Lease. Landlord shall have
the right, at its option, to proceed against Guarantor without having commenced any action, or having obtained any judgment, against Tenant or any other party liable under the Lease or any other guaranty of the Lease. 

4.            Default - In the event of a default by Tenant
under the Lease, Landlord shall have the right to enforce its rights, powers and remedies under the Lease, any other guaranty of the Lease, and under this Guaranty and all rights, powers and remedies available to Landlord shall be non-exclusive and cumulative of all other rights, powers and remedies under the Lease, any other guaranty of the Lease or under this Guaranty or by law or in equity. The obligations of Guarantor hereunder are
independent of the obligations of Tenant or any other guarantor, and Landlord may proceed directly to enforce all rights under this Guaranty without proceeding against or joining Tenant, any other guarantor or any other person or entity. Until all
of the Obligations have been performed and paid in full, Guarantor shall have no right of subrogation to Landlord, and Guarantor hereby waives any rights to enforce any remedy which Landlord may have against Tenant. 

5.            Waivers - Guarantor expressly waives and
agrees not to assert or take advantage of: (a) the defense of the statute of limitations in any action hereunder or in any action for collection of the Obligations, (b) any defense that may arise by reason of the failure of the Landlord to
file or enforce a claim against Guarantor or Tenant in bankruptcy or in any other proceeding, (c) any defense based on the failure of Landlord to give notice of the creation, existence or incurring of any new obligations or on the action or non-action of any person or entity in connection with the Obligations, (d) any duty on the part of Landlord to disclose to Guarantor any facts it may know or may hereafter acquire regarding Tenant, (e) any
defense based on lack of diligence on the part of Landlord 

  
 -1- 

 in the collection of any and all of the Obligations, or (f) any demand for payment,
presentment, notice of protest or dishonor, notice of acceptance of this Guaranty and any and all other notices or demands to which Guarantor might otherwise be entitled by law. 

6.            Subordination; Waiver of Subrogation; Preference
and Fraudulent Transfer Indemnity. Any indebtedness (including, without limitation, interest obligations) of Tenant to Guarantor now or hereafter existing shall be, and such indebtedness hereby is, deferred, postponed and subordinated to the
Obligations. Guarantor hereby unconditionally and irrevocably agrees that until all of the Obligations have been performed and paid in full (a) Guarantor will not at any time assert against Tenant (or Tenant’s estate in the event Tenant
becomes bankrupt or becomes the subject of any case or proceeding under the bankruptcy laws of the United States of America) any right or claim to indemnification, reimbursement, contribution or payment for or with respect to any and all amounts
Guarantor may pay or be obligated to pay Landlord, including, without limitation, any and all Obligations which Guarantor may perform, satisfy or discharge, under or with respect to this Guaranty; (b) Guarantor waives and releases all such
rights and claims and any other rights and claims to indemnification, reimbursement, contribution or payment which Guarantor, or any of them, may have now or at any time against Tenant (or Tenant’s estate in the event Tenant becomes bankrupt or
becomes the subject of any case or proceeding under any bankruptcy laws); (c) Guarantor shall have no right of subrogation, and Guarantor waives any right to enforce any remedy which Landlord now has or may hereafter have against Tenant;
(d) Guarantor waives any benefit of, and any right to participate in, any security now or hereafter held by Landlord; and (e) Guarantor waives any defense based upon an election of remedies by Landlord which destroys or otherwise impairs
any subrogation rights of Guarantor or the right of Guarantor to proceed against Tenant for reimbursement. The waivers hereunder shall continue and survive after the payment and satisfaction of the Obligations, and the termination or discharge of
Guarantor’s obligations under this Guaranty. Guarantor further hereby unconditionally and irrevocably agrees and guarantees (on a joint and several basis) to make full and prompt payment to Landlord of any of the Obligations or other sums paid
to Landlord pursuant to the Lease which Landlord is subsequently ordered or required to pay or disgorge on the grounds that such payments constituted an avoidable preference or a fraudulent transfer under applicable bankruptcy, insolvency or
fraudulent transfer laws; and Guarantor shall fully and promptly indemnify Landlord for all reasonable costs (including, without limitation, reasonable attorney’s fees) incurred by Landlord in defense of such claims of avoidable preference or
fraudulent transfer. 
 7.            Choice of Law -
This Guaranty is to be performed in the State of Georgia and shall be governed by and construed in accordance with the laws of the State of Georgia, without regard to its conflicts laws or choice of law rules. 

8.            Time of Essence - Time is of the essence of
this Guaranty. 
 9.            Notices
- Wherever any notice or other communication is required or permitted hereunder, such notice or other communication shall be in writing and shall be delivered by hand, or by nationally-recognized overnight express delivery service, by U. S.
registered or certified mail, return receipt requested, postage prepaid to the addresses set out below or at such other addresses as are specified by written notice delivered in accordance herewith: 

 

			
	
                   
     Landlord:
	  	141 Knowlton Way, LLC
		  	c/o IDI Services Group, LLC
		  	3424 Peachtree Road, N.E., Suite 1500
		  	Atlanta, Georgia 30326
		  	Attn:  Manager – Lease Administration
		  	Facsimile:  
		
	
                   
     Guarantor:
	  	DIRTT Environmental Solutions Ltd.
		  	7303 – 30th Street S.E.
		  	 Calgary AB T2C 1N6
 CANADA

		  	Attn:  Chief Financial Officer
		  	Facsimile:  
		  	Email:  

 Any notice or other communication mailed as hereinabove provided shall be deemed effectively
given (a) on the date of delivery, if delivered by hand; or (b) on the date mailed if sent by overnight express delivery or if sent by U.S. mail. Such notices shall be deemed received (a) on the date of delivery, if delivered by hand
or overnight express delivery service; or (b) on the date indicated on the return receipt if mailed. If any notice mailed is properly addressed but returned for any reason, such notice shall be deemed to be effective notice and to be given on
the date of mailing. 

10.            Authority - If Guarantor
is not a natural person, Guarantor shall cause its corporate secretary or general partner, as applicable, to execute the certificate attached hereto as Exhibit A. Guarantor is authorized by all required corporate or partnership action to
enter into this Guaranty and the individual(s) signing this Guaranty on behalf of Guarantor are each authorized to bind Guarantor to its terms. 

11.            Successors and Assigns - This Guaranty
shall be binding upon and inure to the benefit of the parties hereto and their heirs, legal representatives, successors and assigns. 

  
 -2- 

 IN WITNESS WHEREOF, Guarantor has executed under seal and delivered this
Guaranty to Landlord on the date and year above first written. 
  

					
	 GUARANTOR:

	
	 DIRTT ENVIRONMENTAL SOLUTIONS LTD.,

a corporation organized under the laws of Alberta, C

		
	
By:                      
                               
	 	
	
Name:                      
                          
	 	
	
Title:                      
                            
	 	
		
	
Attest:                      
                          
	 	
	
Name:                      
                          
	 	
	
Title:                      
                            
	 	
		
	               [CORPORATE SEAL]
	 	

  
 -3- 

 EXHIBIT A 

CERTIFICATE OF AUTHORITY 

CORPORATION 

The undersigned, Secretary of DIRTT ENVIRONMENTAL SOLUTIONS LTD., a corporation organized under the laws of Alberta, Canada
(“Guarantor”), hereby certifies as follows to 141 KNOWLTON WAY, LLC, a Delaware limited liability company (“Landlord”), in connection with the execution of a Guaranty by Guarantor (the “Guaranty) of that certain Industrial
Lease Agreement dated September       , 2008 between Landlord and DIRTT Environmental Solutions, Inc. (“Tenant”) (the “Lease”) relating to the lease of approximately [***] square feet within
the building located at 155 Knowlton Way, Savannah, Georgia within Crossroads Business Center, Chatham County, Georgia (the “Premises”): 

1.            Guarantor is duly organized, validly existing and in
good standing under the laws of Alberta, Canada. 

2.            That the following named persons, acting
individually, are each authorized and empowered to negotiate and execute, on behalf of Guarantor, a Guaranty of the Lease and that the signature opposite the name of each individual is an authentic signature: 

 

									
	  
	 		 	  
	 		 	  

	(name)	 	                	 	(title)	 	                	 	(signature)
					
	  
	 		 	  
	 		 	  

	(name)	 		 	(title)	 		 	(signature)
					
	  
	 		 	  
	 		 	  

	(name)	 		 	(title)	 		 	(signature)

 3.            That the foregoing
authority was conferred upon the person(s) named above by the Board of Directors of Guarantor, at a duly convened meeting held
                        , 20      . 

 

			
	  
	 	
                       
 

	 Secretary
	 	
		
	[CORPORATE SEAL]	 	

  
 -4- 

 FIRST AMENDMENT TO INDUSTRIAL LEASE AGREEMENT 

THIS FIRST AMENDMENT TO INDUSTRIAL LEASE AGREEMENT (this “Amendment”) is made as of the Amendment Date (as
hereinafter defined) by and between 141 KNOWLTON WAY, LLC, a Delaware limited liability company (“Landlord”), and DIRTT ENVIRONMENTAL SOLUTIONS, INC., a Colorado corporation (“Tenant”). 

RECITALS 

Landlord and Tenant have previously entered into that certain Industrial Lease Agreement dated October 6, 2008 (the
“Lease”) for the lease of approximately [***] square feet of space, more commonly known as 155 Knowlton Way, Suite 100, Savannah, Georgia 31407 (the “Demised Premises”) located within Crossroads Business Center, Chatham County,
Georgia. 
 Landlord and Tenant desire to amend the Lease as more particularly set forth herein. 

NOW, THEREFORE, for and in consideration of Ten and No/100 Dollars ($10.00) and other good and valuable consideration in hand
paid by each party hereto to the other, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows: 

1.            All capitalized terms used herein but undefined
shall have the meaning as defined in the Lease. 

2.            Landlord and Tenant hereby confirm that the Lease
Commencement Date occurred on February 1, 2009 and that the Base Rent Commencement Date shall occur on March 1, 2009. 

3.            Landlord and Tenant hereby expressly acknowledge and
agree that, notwithstanding anything in the Lease to the contrary, with respect to the construction of the Improvements: (i) Tenant will be constructing approximately [***] square feet of Class A office space within the Demised Premises,
(ii) Tenant will not be constructing showroom space within the Demised Premises at the time of the construction of the initial Improvements, and (iii) Tenant’s general contractor will not be Choate Construction Company. Tenant hereby
expressly acknowledges and agrees that the general contractor Tenant elects to use in lieu of Choate Construction Company shall be mutually acceptable to Landlord and Tenant. 

4.            For purposes of this Amendment, the term
“Amendment Date” shall mean the date upon which this Amendment is signed by Landlord or Tenant, whichever is later. 

5.            Except as amended hereby, the Lease shall be and
remain in full force and effect and unchanged. As amended hereby, the Lease is hereby ratified and confirmed by Landlord and Tenant. To the extent the terms hereof are inconsistent with the terms of the Lease, the terms hereof shall control. 

6.            This Amendment may be executed in any number of
counterparts all of which taken together shall constitute one and the same instrument and any of the parties or signatories hereto may execute this Amendment by signing any such counterpart. 

7.            The submission of this Amendment to Tenant for
examination or consideration does not constitute an offer to amend the Lease, and this Amendment shall become effective only upon the execution and delivery thereof by Landlord and Tenant. Execution and delivery of this Amendment by Tenant to
Landlord constitutes an offer to amend the Lease on the terms contained herein. The offer by Tenant will be irrevocable until 6:00 p.m. Eastern time for fifteen (15) days after the date of execution of this Amendment by Tenant and delivery to
Landlord. 
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and sealed as of the Effective
Date. 
  

					
		 	 LANDLORD:

	 Date: March 11, 2009
	 	
		 	 141 KNOWLTON WAY, LLC, a Delaware
limited liability company

		
		 	 By:        IPA Acquisition II, LLC, a Delaware

limited liability company, its sole member.

		
		 	 By:        IDI Holdings IV, LLC, a Delaware limited

liability company, its managing member

		
		 	 By:       /s/ Timothy J. Gunter

		 	
                       
                                         
                                         
                                         
                                         
                     

		 	 Name:  Timothy J. Gunter

		 	 Title:    Manager

 [signatures continued on next page] 

  
 2 

 CONSENT 

The capitalized terms of this Consent shall have the meaning as defined in the Amendment to which this Consent is attached (the
“Amendment”), unless otherwise defined. The undersigned, being the Guarantor of the Lease under that certain Guaranty dated October 6, 2008 from Guarantor to 141 Knowlton Way, LLC, hereby consents to the Amendment, and acknowledges
and reaffirms that the Guaranty is in full force and effect as it relates to the Lease, as amended by this Amendment. 

            

 
  

			
		 	 GUARANTOR:

		
	 Date: March 3, 2009
	 	 DIRTT ENVIRONMENTAL SOLUTIONS LTD.,

a corporation organized under the laws of Alberta, Canada

	
		
		 	 By:      /s/ Scott R. Jenkins

		 	
                   
                                         
                                         
                                         
                          

		
		 	 Name: Scott R.
Jenkins                              

 
 Title:
  CFO                                      
          

		
		 	 Attest:   /s/ Tracy Baker

		 	
                   
                                         
                                         
                                         
                          

		
		 	 Name:  Tracy
Baker                                   

		
		 	 Title:
   COO                                     
          

		
		 	         [CORPORATE SEAL]

  
 4 

 [signatures continued from previous page] 

 

					
		 	 TENANT:
	  	
		
	 Date:  March 4, 2009  
	 	 DIRTT ENVIRONMENTAL SOLUTIONS, INC.,

a Colorado corporation

		
		 	 By:      /s/ Scott Jenkins

		 	
                       
                                         
                                         
                                         
                                         
 

		 	 Name: Scott Jenkins

		 	 Title:   Treasurer and Secretary

		
		 	 Attest:  /s/ Tracy Baker

		 	
                       
                                         
                                         
                                         
                                         
 

		 	 Name: Tracy Baker

		 	 Title:   Chief Operating Officer

			
		 	             [CORPORATE SEAL]
	  	

  
 3 

 LICENSE AGREEMENT 

THIS LICENSE AGREEMENT (this “Agreement”) is made and entered into effective as of the lst day of February, 2009, by and between 141 KNOWLTON WAY, LLC, a Delaware limited liability company (“Licensor”) and DIRTT ENVIRONMENTAL SOLUTIONS, INC., a Colorado corporation
(“Licensee”). 
 W I T N E S S E T H: 

WHEREAS, Licensor, as landlord, and Licensee, as tenant, have entered into that certain Industrial Lease Agreement dated
October 2, 2008 (the “Lease”; all capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Lease) for the lease of approximately [***] square feet of space, more commonly known as 155
Knowlton Way, Suite 100, Savannah, Georgia 31407 (the “Demised Premises”) located within Crossroads Business Center, Chatham County, Georgia. 

WHEREAS, Licensor has agreed to allow Licensee to temporarily use additional space within the Building for the purposes and
upon the terms and conditions set forth herein. 
 NOW, THEREFORE, for and in consideration of Ten and No/100 Dollars
($10.00) and other good and valuable consideration in hand paid by Licensee to Licensor, the receipt and sufficiency of which are hereby acknowledged, Licensor and Licensee do hereby agree as follows: 

1.            Licensor hereby grants to Licensee the right and
license to use that certain approximately [***] square foot portion of the Building more particularly described on Exhibit A attached hereto and incorporated herein (the “Temporary Space”) for the storage of Tenant’s products
only, and for no other purpose whatsoever, for a period beginning on February 1, 2009 and, unless this Agreement is earlier terminated as provided herein, ending on May 29, 2009 (the “Term”). Throughout the Term, Licensor shall
have access to the Temporary Space to inspect and show the Temporary Space to any prospective tenants. 

2.            If during the Term (i) Licensee shall fail to
abide either by the rules and regulations from time to time in effect with respect to the Building and Project, or by any restrictive covenants or other matters affecting title to the Project, and thereafter fails to cure such failure within ten
(10) days of written notice thereof from Licensor, (ii) Licensor determines, in its reasonable discretion, that Licensee’s use or occupancy of the Temporary Space is detrimental to the operation of the Project,
(iii) Licensee’s use or occupation of the Temporary Space is determined to be in violation of any applicable law, rule or ordinance, or (iv) Licensee shall be in default under any of the terms, covenants or conditions of the Lease or
this Agreement, then, in addition to such other rights and remedies as may be available to Licensor at law or in equity, Licensor shall have the immediate right to terminate this Agreement and the rights granted herein by written notice to Licensee.
No termination of this Agreement by Licensor pursuant to this paragraph 2 shall release Licensee from its obligations arising or accruing under this 

  
 - 1 - 

 
Agreement prior to the effective date of such termination, or from those obligations of Licensee hereunder which, by their nature, are to survive any such termination. 

3.            Licensor shall have no obligation to make any
improvements to the Temporary Space. Licensee hereby accepts the Temporary Space on an “AS IS, WHERE IS, WITH ALL FAULTS” basis, without any representation or warranty by Licensor whatsoever. Licensee’s use and occupancy of the
Temporary Space shall be at Licensee’s sole risk, and Licensor shall have no responsibility whatsoever for, and Licensee does hereby expressly waive, release and hold Licensor harmless from, any loss, injury or damage to person or to property
(as a result of theft, fire, water sprinklers, smoke or any other causes) suffered by Licensee or its agents, employees, invitees or guests in, on or about the Temporary Space. 

4.            Licensee shall have no right to make any alterations
or improvements to the Temporary Space. Licensee shall and does hereby agree to keep the Temporary Space clean and free of rubbish and debris at all times during the Term. On or before five (5) days following the expiration or any earlier
termination of the Term, Licensee shall remove all of its effects from the Temporary Space and surrender the Temporary Space to Licensor in the condition in which it existed as of the commencement of the Term, including, without limitation, floors,
walls, dock doors, exterior parking and loading areas. Licensee’s failure to remove its effects from the Temporary Space and surrender possession of the Temporary Space to Licensor in accordance with the terms of this Section 4 shall
constitute and immediate Event of Default under the Lease. 

5.            Licensee does hereby agree to indemnify, defend
(with counsel reasonably acceptable to Licensor) and hold harmless Licensor and its employees, agents, officers, directors, shareholders, members, successors and assigns (collectively, the “Indemnified Parties”) from and against any and
all claims, actions, causes of action, damages, losses, liability, costs and expenses (including, without limitation, reasonable attorneys’ fees at the trial and appellate court levels and court costs) suffered or incurred by Licensor or any of
the other Indemnified Parties as a result of or in connection with Licensee’s use or occupancy of the Temporary Space. Licensee shall, simultaneously with its execution hereof, deliver to Licensor evidence that Licensee has obtained insurance
covering the Temporary Space which is in compliance with Licensee’s insurance requirements contained in Section 8 of the Lease. Licensee shall maintain such insurance coverage throughout the Term. The indemnities contained within this
Section 5 shall expressly survive the expiration or earlier termination of this Agreement. 

6.            Except as set forth herein to the contrary,
Licensee’s obligations under the Lease shall also apply to Licensee’s use and occupancy of the Temporary Space, exclusive of the obligation to pay Rent, any free rent, extension options, early termination rights, improvement allowances or
other allowances. Licensee’s use and occupancy of the Temporary Space shall be subject to all applicable laws, rules and ordinances. 

7.            This Agreement and the rights granted to Licensee
herein are intended and shall be deemed to constitute merely a license to occupy the Temporary Space upon the terms and conditions set forth herein, and shall not be deemed to constitute a lease, an 

  
 - 2 - 

 
estate passing out of Licensor or any other interest in real property, and, therefore, Licensee shall not be entitled to any statutory right or benefit afforded to Licensee of real property. This
Agreement and the rights granted to Licensee herein shall not be subject to levy or sale, and shall not be assigned by Licensee without the prior written consent of Licensor, which consent Licensor may withhold in its sole and absolute discretion.

 8.            Each notice required or permitted to be given
hereunder shall be in writing and shall be given in the manner required for notices in Section 27 of the Lease. 

9.            This Agreement shall be governed by and construed in
accordance with the substantive laws, not the conflicts laws or choice of law rules, of Georgia. 

10.            This Agreement may be executed in multiple
counterparts, each of which shall constitute an original hereof, but all of which, when taken together, shall constitute but one and the same instrument. Delivery of a facsimile of this Agreement executed by a party hereto shall be deemed to
constitute delivery of an original hereof executed by such party. 

11.            This Agreement shall be binding upon and shall
inure to the benefit of Licensor and Licensee and their respective successors and permitted assigns. 

12.            This Agreement contains the entire agreement of the
parties hereto with respect to the use and occupancy of the Temporary Space by Licensee, and no representations, inducements, promises or agreements, oral or otherwise, between the parties not embodied herein or incorporated herein by reference
shall be of any force or effect. 
 [signatures on next page] 

  
 - 3 - 

 IN WITNESS WHEREOF, Licensor and Licensee have caused this Agreement to be
executed under seal by persons duly authorized thereunto as of the day and year first above written. 
  

			
	LICENSOR:
	
	141 KNOWLTON WAY, LLC, a Delaware limited
liability company
	
	By:        IPA Acquisition II, LLC, a Delaware limited
liability company, its sole member
	
	By:        IDI Holdings IV, LLC, a Delaware limited
liability company, its managing member

 

			
		
	By:	 	     /s/ Timothy J. Gunter

		 	  

 
			
	Name: Timothy J. Gunter
	Title:   Manager
	
	LICENSEE:
	
	DIRTT ENVIRONMENTAL SOLUTIONS, INC.,
a Colorado corporation

 
			
		
	By:	 	     /s/ Scott Jenkins

		 	  

			
	Name: Scott Jenkins
	Title:   Treasurer and Secretary

 
			
		
	Attest:	 	 /s/ Miles Nixon

		 	  

 
			
	Name: Miles Nixon
	Title:   Corporate Controller
	
	          [CORPORATE SEAL]

  
 - 4 - 

 EXHIBIT A 

TEMPORARY SPACE 

Exhibit A 
 155 Knowlton
Way – Crossroads Business Center 
  
 

 
 Temporary Storage: 

[***] square feet directly adjacent to leased space. 

([***]) 

 SECOND AMENDMENT TO INDUSTRIAL LEASE AGREEMENT 

THIS SECOND AMENDMENT TO INDUSTRIAL LEASE AGREEMENT (the “Second Amendment” or the “Amendment”) is made as
of August 23, 2018 (the “Effective Date”) by and between SH7-SAVANNAH, LLC, a
                     limited liability company (“Landlord”), and DIRTT ENVIRONMENTAL SOLUTIONS, INC., a Colorado corporation
(“Tenant”). 
 Landlord’s predecessor in interest, 141 Knowlton Way, LLC (the “Original Landlord”),
and Tenant have previously entered into that certain Industrial Lease Agreement dated October 4, 2008 (the “Original Lease”), which was subsequently amended by that certain First Amendment to Industrial Lease (the “First
Amendment”) (the Original Lease and the First Amendment shall hereinafter be collectively referred to as the “Lease”) for the lease of approximately [***] square feet of space, more commonly known as 155 Knowlton Way, Suite 100,
Savannah, Georgia 31407 (the “Demised Premises”) located within Crossroads Business Center, Chatham County, Georgia. 

Landlord and Tenant desire to amend the Lease as more particularly set forth herein. 

NOW, THEREFORE, for and in consideration of Ten and No/100 Dollars ($10.00) and other good and valuable consideration in hand
paid by each party hereto to the other, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows: 

1.            All capitalized terms used herein but undefined
shall have the meaning as defined in the Lease. 

2.            The Lease is hereby Amended by extending the Primary
Term for a period of ten (10) years commencing on March 1, 2019 and expiring on February 28, 2029 (such period shall be hereinafter referred to as the “First Extension Term”, and as used in this Amendment and the Lease, the
“Term” shall mean the Primary Term, the First Extension Term, and any and all other future extensions of the term of this Lease). 

3.            Effective as of March 1, 2019 and continuing
throughout the First Extension Term, the Base Rent due under the Lease for the Demised Premises shall be as follows: 
  

									
	 	 	Lease Year	 	Monthly Base Rent	  	Annually Base Rent	 	 
		 	1	 	$[***]	  	$[***]	 	
		 	2	 	$[***]	  	$[***]	 	
		 	3	 	$[***]	  	$[***]	 	
		 	4	 	$[***]	  	$[***]	 	
		 	5	 	$[***]	  	$[***]	 	
		 	6	 	$[***]	  	$[***]	 	
		 	7	 	$[***]	  	$[***]	 	
		 	8	 	$[***]	  	$[***]	 	
		 	9	 	$[***]	  	$[***]	 	
		 	10	 	$[***]	  	$[***]	 	

  
 1 

 In addition to Base Rent, during the First Extension Term Tenant shall be
obligated to and shall pay all Additional Rent due under the terms of the Lease including, but not limited to Tenant’s proportionate share of Operating Expenses, all costs and charges for utilities used or consumed in or servicing the Demised
Premises, and any and all other costs and charges due by Tenant under the terms of the Lease. The Additional Rent for the 2018 calendar year is estimated to be $[***] per square foot of area. 

4.            Tenant is hereby agreeing to lease the Demised
Premises for the First Extension Term in their current “AS IS, WHERE IS” condition, and by its execution of this Second Amendment, Tenant acknowledges that Landlord has made no warranty, representation, covenant or agreement with respect
to the merchantability or fitness for any particular purpose of the Demised Premises and that the Demised Premises are in good and satisfactory condition. Any improvements made to the Demised Premises by the Tenant shall be performed at
Tenant’s sole cost and expense in accordance with the applicable terms of the Lease and all applicable laws and ordinances. 

5.            Landlord agrees that it shall, in accordance with a
“Maintenance Schedule” Landlord shall prepare and provide to Tenant, address the following conditions of the Project: (i) implement corrective repairs/improvements to the property located at the southeast corner of the Building to
prevent or minimize wash-outs from occurring during periods of rain; (ii) fill in holes in the landscape beds located on the north side of the Building from which trees were removed after the most recent hurricane; (iii) replace or repair non-functioning lights located on the north side of the Building; (iv) repaint and/or restripe numbers and/or parking stalls in the parking area located on the south side of the Building; (v) clean and
repaint “Man” doors; (vi) install non-skid paint on the metal stairs located at the south entrance to the Building; (vii) install an external ladder with locked access on the southeast side
of the building to provide Tenant with roof access; (viii) re-caulk north center slab walk of the Demised Premises; and (ix) install dock leveler at bay/dock door #6 of the Demised Premises
(collectively, “Landlord’s Work”). Landlord and Tenant agree that items 5 (i), (ii), (iii), (iv), (v), and (vi) are to be considered Operating Expenses as defined in the Lease and items 5 (vii), (viii), and (ix) shall be at
the Landlord’s sole cost and expense and shall not be charged back to the Tenant as Operating Expenses as defined in the Lease. 

6.            Section 3(a) and 3(b) of the Special Stipulations as
set forth on Exhibit C to the Lease is hereby deleted in its entirety and replaced with the following new Section 3(a) and 3(b): 
  

	 	(a)	 Landlord hereby grants to Tenant the right to extend the Term of the Lease for two (2) consecutive
periods of five (5) years (each an “Option Term”), on the same terms and conditions as set forth in the Lease except Base Rent. The right to extend for an Option Term (an “Option”) may be exercised by Tenant giving written
notice of its exercise to Landlord in the manner provided in this Lease at least one hundred eighty (180) days prior to (but not more than three hundred sixty-five (365) days prior to) the expiration of the Term, as it may have been
previously extended. No Option may be exercised by Tenant if an Event of Default has occurred and is then continuing or any facts or circumstances then exist which, with the giving of notice or the passage of time, or both, would constitute an Event
of Default either at the time of exercise of the Option or at the time the applicable Term would otherwise have expired if the applicable Option had not been exercised. 

  
 2 

	 	(b)	 If Tenant exercises its Option, Landlord shall, within thirty (30) days after the receipt of
Tenant’s notice of exercise, notify Tenant in writing of Landlord’s reasonable determination of the Base Rent for the Demised Premises for the applicable Option Period, which amount shall be determined using a per square foot rental rate
based on the then prevailing market rate, taking into account all relevant factors for the space of this type in the Chatham County, Georgia area. Tenant shall have thirty (30) days from its receipt of Landlord’s notice to notify Landlord
in writing that Tenant does not agree with Landlord’s determination of the Base Rent and therefore that Tenant elects to retract its Option, in which case the Term, as it may have been previously extended, shall expire on its scheduled
expiration date and Tenant’s Option shall be void and of no further force and effect. If Tenant does not notify Landlord of such retraction within thirty (30) days of its receipt of Landlord’s notice, Base Rent for the Demised
Premises for the applicable extended term shall be the Base Rent set forth in Landlord’s notice to Tenant. 

7.            Section 9 of the Special Stipulations as set forth
on Exhibit C to the Lease and entitled “Right of First Refusal to Lease” is hereby deleted in its entirety and replaced with the Right of Offer as set forth on Exhibit A attached hereto. 

8.            This Amendment may be executed in any number of
counterparts all of which taken together shall constitute one and the same instrument and any of the parties or signatories hereto may execute this Amendment by signing any such counterpart. 

9.            Landlord and Tenant acknowledge that there are no
real estate brokers that represented the parties herein and that no commissions or fees are due to any brokers whatsoever other than Cushman & Wakefield, LLC and Gilbert & Ezelle Real Estate Services, LLC, representing Tenant, and
Colliers International - Savannah, LLC, representing Landlord (collectively, the “Brokers”). Landlord shall compensate the Brokers for their work in connection with this Second Amendment pursuant to the terms of a separate agreement.
Landlord and Tenant hereby agree to indemnify, defend and hold the other harmless from and against any and all brokers or consultants (other than the Brokers) who claim commissions or fees are owed to them in connection with this Second Amendment as
a result of the act of the indemnifying party. 

10.            Tenant represents and warrants to Landlord that, as
of the Effective Date: (i) Tenant has no claims, defenses (personal or otherwise) or rights of set off whatsoever with respect to the Lease; (ii) neither Landlord or Tenant are in default under the terms of the Lease and; (iii) no
event has occurred and no condition exists which would constitute a default by Landlord under the Lease either with or without the giving of notice or the passage of time or both. 

11.            Except as modified by this Second Amendment, the
Lease remains unchanged and in full force and effect and by their execution hereby, Landlord and Tenant ratify and confirm all provisions thereof. 

12.            The Submission of this Second Amendment to Tenant
for examination or consideration does not constitute an offer to amend the Lease, and this Amendment shall become effective only upon the execution and delivery thereof by Landlord and Tenant. 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and sealed
as of the Effective Date. 
  

							
		 		 	TENANT:	 	
	 Date:     August 23, 2018
	 		 		 	
		 		 	 DIRTT ENVIRONMENTAL SOLUTIONS, INC.,
 a Colorado
company
  
 By:       /s/ Nandini Somayaji
	 	
		 		 	                                      
                                         
                                         
                                         
                       	 	
				
		 		 	 Name: Nandini
Somayaji                                  

 
 Title:   General
Counsel                                      

 
	 	
	 Date:     August 23, 2018
	 		 		 	
		 		 	 ATTEST:
  

By:      /s/ Ha Tran
	 	
		 		 	                                     
                                         
                                         
                                         
                          	 	
				
		 		 	 Name: Ha
Tran                                         
         
  
 Title:   VP
Finance
                                         
     
  
	 	
		 		 	        [CORPORATE SEAL]	 	
		 		 	  
 LANDLORD:
	 	
	 Date:
                                
	 		 		 	
		 		 	  
 SH7-SAVANNAH LLC, a
                         limited

liability company
  

By:                         
                                         
   
 Name:
                                         
                       
	 	
		 		 	Title:
                                         
                         	 	

  
 4 

 CONSENT OF GUARANTOR 

The capitalized terms of this Consent shall have the meaning as defined in the Second Amendment to which this Consent is attached (the
“Second Amendment”), unless otherwise defined. The undersigned, being the Guarantor of the Lease under that certain Guaranty dated October 7, 2008 (the “Guarantee”) from Guarantor in favor of 141 Knowlton Way, LLC
(“Original Landlord”), predecessor in interest to SH7-Savannah LLC (“Landlord”), hereby consents to the Second Amendment and the extension of the Term of the Lease, and acknowledges and
reaffirms to Landlord that the Guaranty is in full force and effect as it relates to the Lease, as the same has been amended and extended pursuant to the terms of the Second Amendment, and that Landlord, as successor to Original Landlord under the
Lease, is the beneficiary of the Guaranty and shall have all of the rights and benefits afforded to the Original Landlord under the terms of the Guaranty. 
  

									
		 		 	 GUARANTOR:

	 Date:     August 23, 2018
	 		 	
			
		 		 	 DIRTT ENVIRONMENTAL SOLUTIONS LTD., a
corporation organized under the laws of Alberta,
Canada

			
		 		 	By:      /s/ Nandini Somayaji
		 		 	                                   
                                         
                                         
                                         
                            
			
		 		 	 Name: Nandini
Somayaji                                  

 
 Title:   General
Counsel                                      

			
		 		 	Attest:  /s/ Ha Tran
		 		 	                                   
                                         
                                         
                                         
                              
			
		 		 	 Name: Ha
Tran                                         
          
  
 Title:  
VP Finance
                                         
     

					
		 		 		 	         [CORPORATE SEAL]
	 	

  
 5 

 EXHIBIT A 

RIGHT OF OFFER 

The capitalized terms of this Right of Offer shall have the meaning as defined in the Second Amendment to which this Right of
Offer is attached (the “Second Amendment”), unless otherwise defined. Tenant shall have the right (“Right of Offer”) during the First Extension Term to elect to lease those certain premises in the Building: (i) currently
occupied by St. George Warehousing and containing approximately [***] square feet (the “St. George Space”); and (ii) currently occupied by Velocity Services and containing approximately [***] square feet (the “Velocity
Space”) (the St. George Space and the Velocity Space shall be herein after collectively referred to as the “Right of Offer Space”), to the extent that such Right of Offer Space becomes Available Space (as that term is hereinafter
defined), on and subject to the terms and conditions set forth in this Right of Offer. 
 Right of Offer Space shall
constitute “Available Space” upon the expiration of all rights, whether now existing or hereafter granted, to such space including, but not limited to (i) all leases in effect, (ii) any rights of tenants thereunder to renew or
extend any such lease, whether existing or granted hereafter, and (iii) any rights of other tenants with respect to such space. The date following the expiration of all such rights shall be deemed to be the date on which such space becomes
available for lease pursuant to this Right of Offer. 
 Landlord shall use reasonable efforts to give notice to Tenant as
and when Landlord anticipates that any Available Space will become available. Landlord shall state in each notice hereunder (i) the space available, (ii) the date Landlord anticipates that such space will be available for delivery,
(iii) Landlord’s determination of the Market Base Rental Rate (as defined below) with respect to such space, and (iv) the term such space is available for lease by Tenant. 

In the exercise of Tenant’s Right of Offer for the Velocity Space, Tenant may elect to lease all (but not less than all)
of the Velocity Space when and if the same becomes Available Space. In the exercise of Tenant’s Right of Offer for the St. George Space, Tenant may elect to lease all or any portion of the St. George Space, provided that if Tenant shall elect
to lease only a portion of the St. George Space, such portion must contain at least 2 bays and approximately [***] contiguous square feet of space and be acceptable to Landlord in Landlord’s sole discretion and Landlord shall be responsible for
all costs required to separately demise such space. 
 Notwithstanding anything contained in the Lease to the contrary,
Tenant may not elect to lease any of the Right of Offer Space during the last five (5) years of the First Extension Term, unless Tenant exercises its Option (for both the Demised Premises and the Right of Offer Space) simultaneously with the
exercise of Tenant’s Right of Offer Space or, if Tenant and Landlord agree to extend the First Extension Term of the Demised Premises to maintain a minimum five (5) year term simultaneously with the exercise of Tenant’s Right of Offer
space. 

  
 6 

 Tenant shall exercise Tenant’s Right of Offer by giving Landlord
written notice of such election (along with a detailed description of the portion of the St. George Space Tenant desires to Lease) as follows: (i) in the case of Landlord’s notice of a lease scheduled to expire, within twenty
(20) days after receipt of Landlord’s notice; or (ii) in the case of Landlord’s notice of an early termination or in the case of vacant Available Space, within twenty (20) days after receipt of Landlord’s notice. If
Tenant fails to respond to Landlord’s notice within the applicable time period set forth above, Tenant’s rights under this Right of Offer with respect to such space shall automatically terminate, and Tenant shall have no further right
under this Lease for such space. 
 Any space for which Tenant elects to exercise its Right of Offer shall become part of
the Demised Premises and, except to the extent expressly provided to the contrary in this Right of Offer, shall be subject to the terms of this Lease applicable thereto, without modification, and the term of this Lease shall commence for such
Available Space upon the date (the “Available Space Rent Commencement Date”) such space is delivered to Tenant in an “as is” broom clean condition as provided below. 

Base Rent for any Available Space (the “Available Space Rent”) shall be the Market Base Rental Rate for such
Available Space determined as of the applicable Available Space Rent Commencement Date. Tenant shall also be obligated to pay Tenant’s Additional Rent for any Available Space. As provided above, Landlord shall give Tenant notice of
Landlord’s reasonable determination of the Market Base Rental Rate for the Available Space. For the purpose of this Lease, the term “Market Base Rental Rate” shall mean Landlord’s reasonable determination of the Base Rent for the
Available Space at the Available Space Commencement Date and applicable for the remainder of the First Extension Term, which amount shall be determined using a per square foot rental rate, taking into account all relevant factors for space of this
type in the Chatham County, Georgia Area. Notwithstanding the foregoing, the parties hereto agree that the “Market Base Rental” for any Available Space with an Available Space Commencement Date that occurs on or before December 31,
2020 shall be equal to $[***] per square foot with annual increases of [***]%. 
 The term of this Lease shall expire for
all Available Space upon the expiration of the Term for the Demised Premises, unless, as specified in Landlord’s notice, such space is not available to be leased to Tenant through the expiration of the Term for the Demised Premises (in which
event such shorter term specified in the Landlord’s notice shall apply to any such Available Space). Tenant shall accept any Available Space or permitted portion thereof in its “as is” condition as of the applicable Available Space
Rent Commencement Date. Landlord shall not be obligated to make any improvements to any Available Space and Tenant shall not be entitled to any construction, buildout or other allowance with respect thereto. 

Within twenty (20) days after request by Landlord or Tenant, the parties shall execute an amendment to this Lease, in the
form prepared by Landlord, adding to the Premises any Available Space which Tenant has elected to lease. 
 The provisions
contained in this Right of Offer shall in no event constitute a covenant or guarantee by Landlord that any Available Space will be available for lease by Tenant at any time. 

  
 7 

 Tenant shall have no right to exercise the Right of Offer if an Event of
Default exists under this Lease at the time Landlord’s notice is given and, if at any time thereafter until the applicable Available Space Rent Commencement Date, an Event of Default exists under this Lease, Landlord shall, in addition to any
other rights which Landlord may have under this Lease, have the right to terminate Tenant’s right to lease the Available Space by giving Tenant written notice of such termination. In addition, the parties hereto agree that Tenant’s Right
of Offer shall expire and be of no further force or effect after February 28, 2028. 
 Landlord shall not be liable for
failure to give possession to Tenant of any Available Space by reason of any holding over or retention of possession by any previous tenants or occupants of same, nor shall such failure impair the validity of this Lease. However, Landlord does agree
to use reasonable diligence to deliver possession of the Available Space in accordance with the provisions of this Right of Offer. 

  
 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}]]