Document:

no1warrantforsharestecog

  1059171/0001/J9719993v2                ULTRA EMISSIONS TECHNOLOGIES LIMITED  and    TECOGEN INC          WARRANT TO SUBSCRIBE FOR SHARES                    

 

 1059171/0001/J9719993v2   CONTENTS  Page  1. INTERPRETATION ................................................................................................................ 1 2. CONSTITUTION OF THE WARRANTS ................................................................................... 4 3. CERTIFICATE ........................................................................................................................ 4 4. THE WARRANTS .................................................................................................................. 4 5. NOTICES .............................................................................................................................. 4 6. COUNTERPARTS .................................................................................................................. 6 7. GENERAL ............................................................................................................................. 6 8. GOVERNING LAW AND JURISDICTION ................................................................................ 6 SCHEDULE 1  FORM OF WARRANT CERTIFICATE ............................................................................ 8 SCHEDULE 2  CONDITIONS ............................................................................................................ 10 1. THE WARRANTS ................................................................................................................ 10 2. SUBSCRIPTION RIGHTS ...................................................................................................... 10 3. EXERCISE OF SUBSCRIPTION RIGHTS ................................................................................ 10 4. SHARES ISSUED UPON EXERCISE OF WARRANT ............................................................... 11 5. ADJUSTMENT .................................................................................................................... 11 6. COVENANTS BY THE COMPANY ........................................................................................ 12 7. REPRESENTATIONS AND WARRANTIES BY THE COMPANY .............................................. 12 8. TRANSFER OF WARRANTS................................................................................................. 13 9. WINDING UP ..................................................................................................................... 13 10. INFORMATION .................................................................................................................. 13 11. VARIATION OF RIGHTS ...................................................................................................... 13 12. GENERAL ........................................................................................................................... 14   

 

  1059171/0001/J9719993v2 THIS AGREEMENT is dated _________________________ 2016  BETWEEN: (1) ULTRA EMISSIONS TECHNOLOGIES LIMITED, a company incorporated in Jersey under company number 120142 and whose registered office is at 47 Esplanade, St. Helier, Jersey JE1 0BD (the “Company”); and (2) TECOGEN INC incorporated and registered in the United States of America whose registered office is at 45 First Avenue, Waltham, Massachusetts, 02451, the United States of America (the “Warrantholder”)  WHEREAS:  (A) The Company has pursuant to a resolution of the Board determined to create and issue warrants to the Warrantholder for no initial consideration, entitling the Warrantholder to subscribe, subject to the provisions hereof and to the Conditions, for a total of 2,000,000 Ordinary Shares with an exercise price of USD 1 per Warrant; and  (B) The Company has accordingly determined to execute this Agreement in order to define the rights and interests of the Warrantholder to afford protection for such rights and interests;  (C)  The Warrantholder has agreed to acquire warrants on the terms of this Agreement.  NOW THIS AGREEMENT WITNESSES and the Company hereby declares as follows.   1. INTERPRETATION 1.1 In this Agreement unless the context otherwise requires:   “Adjustment Event” has the meaning given to it in paragraph 5.3 of the Conditions; “Adjustment Event Certificate” has the meaning given to it in paragraph 6.1(b) of the Conditions; “Articles” means the articles of association of the Company in force at the date of this Agreement or as amended from time to time;  “Board” means the board of directors of the Company as constituted from time to time; “Business Day” means a day other than a Saturday or a Sunday on which banks are open for general business for the entire day in the Island of Jersey; “Certificate” means the certificate for the Warrants set out in Schedule 1; “Conditions” means the terms and conditions for the Warrants set out in Schedule 2;  “Exercise Period” means the period commencing on and from the date hereof until the first anniversary of the date of this Agreement; 

 

 1059171/0001/J9719993v2 “Exercise Price” means USD1 per Warrant Share, subject to adjustment pursuant to paragraph 6 of the Conditions;  “Expiration Date” means the date of expiry of the Exercise Period; “Ordinary Shares” mean ordinary shares of no par value each in the capital of the Company; “Register” means the register of Warrantholder(s) kept pursuant to the Conditions;  “Share” means ordinary shares of no par value in the Company;  “Subscription Rights” means the rights attaching to each of the Warrants entitling the Warrantholder to subscribe for Ordinary Shares in accordance with the Conditions; “Warrants” means the warrants evidenced by the Certificates to subscribe for the Warrant Shares;   “Warrant Shares” means the 2,000,000 Ordinary Shares that are the subject of the Warrants, as subject to adjustment pursuant to paragraph 5 of the Conditions. 1.1 Unless otherwise specified: 1.1.1 Clause, Schedule and paragraph headings are for convenience only and shall not affect the interpretation of this Agreement. 1.1.2 References to clauses and Schedules are to clauses of and Schedules to this Agreement and references to paragraphs are to paragraphs of the relevant Schedule. 1.1.3 The Recitals and Schedules form part of this Agreement and shall have effect as if set out in full in the body of this Agreement. Any reference to this Agreement includes the Schedules. 1.1.4 A reference to this Agreement or to any other agreement or document referred to in this Agreement is a reference to this Agreement or such other agreement or document as amended, supplemented, replaced or novated in accordance with its terms from time to time. 1.1.5 Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular. 1.1.6 Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders. 1.1.7 A person includes a natural person, corporate or unincorporated body, government, state or agency of a state, local or municipal authority or government body or any 

 

 1059171/0001/J9719993v2 joint venture, association or partnership (whether or not having separate legal personality). 1.1.8 A company shall be construed so as to include any company, corporation or other body corporate, whether and however incorporated or established. 1.1.9 A reference to any party shall include that party's successors and permitted assigns. 1.1.10 A reference to a holding company or a subsidiary means a holding company or a subsidiary (as the case may be) as defined in Article 2 of the Law and for the purposes only of the membership requirement contained in Article 2, a company shall be treated as a member of another company even if its shares in that other company are registered in the name of: (a) another person (or its nominee), by way of security or in connection with the taking of security; or (b) its nominee. 1.1.11 Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms. 1.1.12 Where the context permits, other and otherwise are illustrative and shall not limit the sense of the words preceding them. 1.1.13 If a word or phrase is defined, any other grammatical form of that word or phrase has a corresponding meaning. 1.1.14 A reference to a statute or statutory provision is a reference to it as amended, extended or re-enacted from time to time, provided that, as between the parties, no such amendment, extension or re-enactment made after the date of this Agreement shall apply for the purposes of this Agreement to the extent that it would impose any new or extended obligation, liability or restriction on, or otherwise adversely affect the rights of, any Party. 1.1.15 A reference to a statute or statutory provision shall include all subordinate legislation made from time to time under that statute or statutory provision. 1.1.16 Any reference to a legal term under the Laws of Jersey for any action, remedy, method of judicial proceeding, legal document, legal status, court, official or any legal concept or thing shall, in respect of any jurisdiction other than Jersey, be 

 

 1059171/0001/J9719993v2 deemed to include a reference to that which most nearly approximates to the legal term under the Laws of Jersey in that jurisdiction. 1.1.17 Any obligation on a party not to do something includes an obligation not to allow that thing to be done. 2. CONSTITUTION OF THE WARRANTS 2.1 The Warrants shall be hereby constituted subject to Schedule 2. 3. CERTIFICATE 3.1 The Certificate shall be in the form set out in Schedule 1 and shall have endorsed thereon the Conditions in the form set out in Schedule 2.  3.2 The Certificate shall be executed and delivered by the Company. 4. THE WARRANTS The Company shall comply with the terms of the Warrants and shall observe and perform the Conditions which shall be deemed to be incorporated in this Agreement and shall be binding on the Company and the Warrantholder and all persons claiming through or under them respectively. 5. NOTICES 5.1 A notice given to a party under or in connection with this Agreement:  5.1.1 shall be in writing and in English; 5.1.2 shall be signed by or on behalf of the party giving it; 5.1.3 shall be sent to the relevant party for the attention of the contact and to the address specified in clause 5.2, or such other address, fax number or person as that party may notify to the other in accordance with the provisions of this clause 5; and 5.1.4 shall be: (a) delivered by hand; or (b) sent by fax; or (c) sent by pre-paid first class post, recorded delivery or special delivery; or (d) sent by airmail or by reputable international overnight courier (if the notice is to be served by post to an address outside the country from which it is sent); or (e) sent by e-mail to an e-mail address notified by the relevant party to the other party for such purpose; and 

 

 1059171/0001/J9719993v2 5.1.5 unless proved otherwise is deemed received as set out in clause 5.4. 5.2 The addresses for service of notices shall be those set out at the beginning of this Agreement. 5.3 A party may change its details for service of notices as specified in clause 5.2 by giving notice to the other party. Any change notified pursuant to this clause shall take effect at 9.00 am on the later of: 5.3.1 the date (if any) specified in the notice as the effective date for the change; or 5.3.2 5 (Five) Business Days after deemed receipt of the notice. 5.4 Delivery of a notice is deemed to have taken place (provided that all other requirements in this clause have been satisfied): 5.4.1 if delivered by hand, on signature of a delivery receipt or at the time the notice is left at the address; or 5.4.2 if sent by pre-paid first class post, recorded delivery or special delivery to an address in the Island of Jersey, at 9.00 am on the second Business Day after posting; or 5.4.3 if sent by reputable international overnight courier to an address outside the country from which it is sent, on signature of a delivery receipt or at the time the notice is left at the address; or 5.4.4 if sent by e-mail, 1 (one) hour after the email was sent, provided that no automated report showing failed delivery is received; and 5.4.5 if deemed receipt under the previous paragraphs of this clause 5.4 would occur outside business hours (meaning 9.00 am to 5.30 pm Monday to Friday on a day that is not a public holiday in the place of deemed receipt), at 9.00 am on the day when business next starts in the place of deemed receipt. For the purposes of this clause, all references to time are to local time in the place of deemed receipt. 5.5 To prove service, it is sufficient to prove that: 5.5.1 if delivered by hand or by reputable international overnight courier, the notice was delivered to the correct address; or 5.5.2 if sent by fax, a transmission report was received confirming that the notice was successfully transmitted to the correct fax number; or 5.5.3 if sent by post or by airmail, the envelope containing the notice was properly addressed, paid for and posted; or 5.5.4 if sent by e-mail, the notice was properly addressed and sent to the e-mail address of the recipient and no automated report showing failed delivery is received. 

 

 1059171/0001/J9719993v2 6. COUNTERPARTS 6.1 This Agreement may be executed in any number of counterparts, each of which when executed shall constitute a duplicate original, but all the counterparts shall together constitute the one agreement. 6.2 Transmission of an executed counterpart of this Agreement (but for the avoidance of doubt not just a signature page) by: 6.2.1 fax; or 6.2.2 e-mail (in PDF or other agreed format), shall take effect as delivery of an executed counterpart of this Agreement. If either method of delivery is adopted, without prejudice to the validity of the agreement thus made, each Party shall provide the others with the original of such counterpart as soon as reasonably possible thereafter. 6.3 No counterpart shall be effective until each Party has executed at least one counterpart. 7. GENERAL 7.1 Save as provided in paragraph 5 of the Conditions, this Agreement, the Certificate and the Conditions may be varied or amended only by written agreement of the Company and the Warrantholder. 7.2 A waiver of any term, provision or condition hereof shall be effective only if given in writing and signed by the waiving party and then only in the instance and for the purpose for which it is given. 7.3 No failure or delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 7.4 This Agreement, the Certificate and the Conditions shall be governed by and construed in accordance with the laws of Jersey. 8. GOVERNING LAW AND JURISDICTION 8.1 This Agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of the Island of Jersey. 8.2 If any controversy, claim or dispute (a "Dispute") arises in connection with this Agreement the Parties shall attempt to settle it amicably.  If the Parties fail to settle the Dispute amicably within 28 (twenty eight) days after a Party notifies the other Party of the existence of the Dispute, any of them may (and if a deadlock has not been resolved in accordance with clause 14 within 14 (fourteen) days from the date of service of a Deadlock Notice, the Parties shall) submit the Dispute for arbitration before an arbitration tribunal which shall consist of one arbitrator to be agreed by the Parties or in default of such agreement such 

 

 1059171/0001/J9719993v2 administrator as the Director General of the London Court for International Arbitration may in select in his or her absolute discretion. Such arbitration shall be conducted in accordance with the London Court of International Arbitration Rules, which Rules are deemed to be incorporated by reference into this clause. 8.3 The place of the arbitration shall be London and the language of the arbitration shall be English.   IN WITNESS WHEREOF this Agreement has been executed by the Company the day and year above written.  Signed by....................................... for and on behalf of  ULTRA EMISSIONS TECHNOLOGIES LIMITED  ....................................... Director   Signed by ....................................... for and on behalf of  TECOGEN INC                 ....................................... Director    

 

 1059171/0001/J9719993v2 SCHEDULE 1  FORM OF WARRANT CERTIFICATE  Certificate Number  1  WARRANT TO SUBSCRIBE FOR ORDINARY SHARES  ULTRA EMISSIONS TECHNOLOGIES LIMITED (the “Company”) (Incorporated in Jersey with registered number 120142)   THIS IS TO CERTIFY that TECOGEN INC of 45 First Avenue, Waltham, Massachusetts, 02451, the United States of America is the holder of 2,000,000 Warrants and is entitled, on the terms and subject to the Conditions set out in the Agreement executed by the Company dated December 28, 2015, to subscribe for 2,000,000 Ordinary Shares of no par value in the Company commencing on the date hereof and at the Exercise Price.  The Warrants may only be transferred in accordance with the Conditions and the further terms and conditions of the Agreement, which are hereby incorporated herein (including, without limitation, in respect of the definitions used in this Warrant Certificate). No transfer of any or all of the Warrants or the Subscription Rights represented by this Certificate shall be registered without production of this Certificate. Correspondence regarding this Certificate should be addressed to the Company for the time being. EXECUTED as an Agreement dated ____________________ 2016.   Signed by....................................... for and on behalf of  ULTRA EMISSIONS TECHNOLOGIES LIMITED  ....................................... Director The Subscription Rights attaching to each of the Warrants evidenced by this Certificate are exercisable in whole or in part at any time during the Exercise Period (as defined in the Agreement) by completion of the Notice of Exercise set out below and lodgement of this Certificate together with the appropriate payment in accordance with the terms and conditions of the Agreement and the Conditions.  After the Expiration Date this Certificate will cease to have any value or effect.  

 

 1059171/0001/J9719993v2  Notice of Exercise To: The Directors of the Company The holder of the warrants evidenced by the Certificate accompanying this Notice (the “Warrantholder”) hereby exercises its right to subscribe for 2,000,000 Ordinary Shares of no par value in the Company at the Exercise Price of USD1 in accordance with the terms and conditions of the Agreement and the Conditions. The Warrantholder directs the Company to allot the said Ordinary Shares in the numbers and to the Warrantholder, and requests that certificate(s) for the said Ordinary Shares be delivered to the Warrantholder, in each case in accordance with the terms and conditions of the Agreement and the Conditions. Terms defined in the Agreement have the same meaning in this Notice.  Signed by....................................... for and on behalf of  TECOGEN INC      

 

 1059171/0001/J9719993v2 SCHEDULE 2  CONDITIONS Defined terms used in these Conditions have the same meaning as in the Agreement executed by the Company dated December 28, 2015.  1. THE WARRANTS The Warrants are held subject to the memorandum of association of the Company and the Articles and otherwise on these Conditions which are binding upon the Company and the Warrantholder. 2. SUBSCRIPTION RIGHTS 2.1 Each Warrant shall entitle the Warrantholder to subscribe for 1 (one) new Ordinary Share at the Exercise Price on the terms set out herein and in the Agreement. 2.2 The Subscription Rights are exercisable by the Warrantholder in whole or in part at any time during the Exercise Period up to and including the Expiration Date.  If the Subscription Rights have not been exercised on or before the Expiration Date all rights of the Warrantholder hereunder and all obligations of the Company hereunder shall lapse. 2.3 If the Subscription Rights are exercised in part, the Company shall issue a fresh Certificate in the name of the Warrantholder for the balance of the Subscription Rights remaining exercisable. 3. EXERCISE OF SUBSCRIPTION RIGHTS 3.1 In order to exercise the Subscription Rights in whole or in part, the Warrantholder must, not later than the Expiration Date, deliver to the Company: (a) a completed and duly executed notice of exercise in the form attached to the Certificate (which once delivered shall, save with the consent of the Board, be irrevocable); and  (b) payment to the Company equal to the Exercise Price multiplied by the number of Ordinary Shares in respect of which the Warrant is exercised by wire transfer of immediately available funds to the bank account nominated by the Company. 3.2 The Company undertakes that, upon exercise of the Subscription Rights by the Warrantholder in accordance with these Conditions, it shall:  (a) issue and allot the relevant Warrant Shares in accordance with the Notice of Exercise not later than 10 Business Days after the date on which the Warrant is exercised; and (b) issue and despatch to the Warrantholder or other relevant allottee(s) free of charge and at the risk of the person(s) entitled thereto a share certificate or certificates in the name(s) of the relevant allottee(s) in respect of such Warrant Shares not later than 20 Business Days after the date on which the Warrant is exercised. 3.3 No fraction of an Ordinary Share will be issued on any exercise of the Warrant. 

 

 1059171/0001/J9719993v2 4. SHARES ISSUED UPON EXERCISE OF WARRANT 4.1 Warrant Shares will not rank for any dividends or other distributions declared, paid or made by reference to a record date prior to the date upon which they are allotted but, subject thereto, will rank in full for all dividends and other distributions declared, made or paid on the Ordinary Shares in respect of the then current financial year and pari passu in all other respects with the Ordinary Shares in issue on such allotment date. 5. ADJUSTMENT 5.1 If there is an Adjustment Event (as defined in paragraph 5.3 below) while the Warrants are outstanding, then (i) the number of Warrant Shares to be, or capable of being, allotted on any subsequent exercise of the Subscription Rights and/or (ii) the terms and conditions of the Warrants shall (if necessary) be adjusted in such manner as the Board shall reasonably certify to be necessary in order that, after such adjustment: (a) the total number of Warrant Shares to be, or capable of being, allotted pursuant to the exercise of the Subscription Rights: (i) will carry as nearly as possible (and in any event not less than) the same proportion (expressed as a percentage of the total number of votes exercisable in respect of all the Ordinary Shares) of the votes; and  (ii) will carry the same entitlement (expressed as a percentage of the total entitlement conferred by all the Ordinary Shares) to participate in the profits and assets of the Company,  as would the total number of Warrant Shares which would have been allotted pursuant to the exercise of the Subscription Rights had there been no such adjustment and no such event giving rise to such adjustment;  (b) the aggregate Exercise Price payable in order to subscribe for all the Warrant Shares will be as nearly as possible the same as it was prior to such adjustment; and (c) the terms of the Warrants will be no less favourable to the Warrantholder than they would have been had there been no such adjustment. 5.2 In calculating any aggregate entitlement to additional shares under this paragraph, any entitlement to a fraction of a Warrant Share shall be rounded down to the nearest whole Warrant Share. 5.3 For the purpose of paragraph 5.1, “Adjustment Event” means: (a) the issue of Shares other than for value save pursuant to options granted to employees or directors of the Company; (b) the issue of Shares by way of dividend in specie, bonus issue or capitalisation of profits or reserves;  (c) the grant, other than for value, of any options, warrants or any other rights to acquire or call for the issue of Shares save for options granted to employees or directors of the Company;  

 

 1059171/0001/J9719993v2 (d) any consolidation or sub-division of Shares; (e) any redemption or purchase by the Company of Shares; (f) any reclassification or redesignation of Shares; or (g) any reduction of the share capital of the Company. 5.4 The Company shall give the Warrantholder notice of all proposed Adjustment Events in accordance with paragraph 6.1(b) below. 6. COVENANTS BY THE COMPANY 6.1 So long as the Warrant shall not have been exercised in full the Company will:  (a) keep available for issue out of its authorised but unissued share capital free from pre-emptive rights such number of Ordinary Shares as would enable the Warrant Shares to be issued to the Warrantholder in full; and (b) notify the Warrantholder as soon as reasonably practicable (and in any event within 14 days after the Board or a general meeting of shareholders of the Company (whichever is the earliest) has resolved to implement an Adjustment Event) of any proposed Adjustment Event, the prospective date of and nature of the Event, and provide therewith certification of the appropriate adjustment in accordance with paragraph 5.1 (the “Adjustment Event Certificate”). 6.2 In the event that the Company proposes to:  (a) issue Shares or any other securities in the Company other than in the circumstances referred to in paragraphs 5.3(a) to 5.3(c); or (b) pay any dividend or make any distribution on any Shares, the Company shall give to the Warrantholder at least 10 Business Days’ prior written notice of the effective date of any such event. 7. REPRESENTATIONS AND WARRANTIES BY THE COMPANY 7.1 The Company hereby represents, warrants and agrees that:  (a) the Company is duly incorporated and validly existing under the laws of Jersey and has power to execute, deliver and perform its obligations under this Agreement, and all necessary action has been taken by it to authorise the execution, delivery and performance of this Agreement, no limitation on its powers will be exceeded as a result of transactions under this Agreement and this Agreement when executed will constitute valid and legally binding obligations of the Company enforceable in accordance with their respective terms, subject to the applicable laws and regulations relating to insolvency and general principles of equity; (b) the execution, delivery and performance of the Agreement will not contravene any existing law or regulation to which it is subject; 

 

 1059171/0001/J9719993v2 (c) the Warrants constituted by this Agreement will be duly authorised and validly issued in accordance with all applicable laws (including, without limitation, money laundering legislation); and (d) the Warrant Shares will be duly authorised and allotted and will, when entered into the register of members of the Company, be duly issued and fully paid or deemed fully paid. 8. TRANSFER OF WARRANTS  8.1 The Warrantholder shall be registered in the Register, such Register to be kept by the Company or as the Board may direct. 8.2 The Warrantholder may not assign, pledge or otherwise encumber any of its rights or obligations hereunder. 8.3 The Warrantholder may transfer its rights or obligations hereunder to the extent permitted under any agreement between the shareholders of the Company. 9. WINDING UP 9.1 If a resolution is passed on or before the Expiration Date for the voluntary winding up of the Company (except for the purpose of reconstruction or amalgamation or merger in which case the Company will procure that the Warrantholder is granted by the reconstructed or amalgamated company a substituted warrant of a value equivalent to the value of the Warrant immediately prior to such reconstruction or amalgamation) then the provisions of paragraph 9.2 shall apply. 9.2 The Warrantholder will be entitled on giving notice in writing to the liquidator of the Company within 10 days of the passing of such resolution to elect that for the purpose of ascertaining its rights in the winding up it shall be treated as if it had immediately before the date of the passing of the resolution exercised its rights to acquire Warrant Shares and in that event it shall be entitled to receive out of the assets available in the liquidation pari passu with the holders of the Ordinary Shares such a sum as it would have received had it been the holder of the Warrant Shares after deducting a sum equal to the sum which would have been payable in respect of such exercise.   9.3 Subject to this paragraph 9 the Warrant shall lapse on liquidation of the Company. 10. INFORMATION The Company shall send or procure to be sent to the Warrantholder, copies of every statement, notice or circular issued to the members of the Company concurrently with the issue of the same to its members. 11. VARIATION OF RIGHTS 11.1 All or any of the rights for the time being attached to the Warrants may from time to time (whether or not the Company is being wound up) be altered or abrogated with the consent in writing of the Company and with either the consent in writing of any or all Warrantholders entitled to subscribe for not less than 75% of the Warrant Shares which are 

 

 1059171/0001/J9719993v2 subject to outstanding Warrants or with the sanction of an Extraordinary Resolution of the Warrantholders.  11.2 All the provisions of the Articles as to general meetings of the Company shall mutatis mutandis apply to any separate meeting of the Warrantholders as though the Warrants were a class of shares forming part of the Company and as if such provisions were expressly set out in full in these Conditions but so that:- (a) the necessary quorum shall be the Warrantholder or Warrantholders (present in person or by proxy) entitled to subscribe for at least one-third in nominal amount of the Warrant Shares subject to outstanding Warrants; (b) every holder of an outstanding Warrant present in person at any such meeting shall be entitled on a show of hands to one vote and on a poll every such holder present in person or by proxy at any such meeting shall be entitled to one vote for every Warrant Share for which he is entitled to subscribe pursuant to the Warrants; (c) any holder or holders of 10% or more of the aggregate outstanding Warrants present in person or by proxy may demand or join in demanding a poll; and (d) if at any adjourned meeting a quorum as above defined is not present those holders of outstanding Warrants who are then present in person or by proxy shall be a quorum. 11.3 "Extraordinary Resolution" for the purposes of this paragraph 12 means a resolution proposed at a meeting of the holders of outstanding Warrants duly convened by fourteen days' notice and held and passed by a majority consisting of not less than 75% of the votes cast, whether on a show of hands or on a poll. 12. GENERAL 12.1 The Warrantholder shall have no rights whatsoever as a shareholder of the Company (including any right to receive dividends or distributions to shareholders or to vote at a general meeting of the shareholders or any class of shareholders) other than in respect of Warrant Shares held by such Warrantholder.    12.2 The holding of Warrants evidenced by the Certificate shall not constitute the Warrantholder a shareholder of the Company nor shall it entitle the Warrantholder to any right or interest in respect thereof except as herein expressly provided. 12.3 The provisions of the Articles as to notices to shareholders shall apply mutatis mutandis to notices to the Warrantholder.Exhibit 10.1

 

OFFICE LEASE

 

This Office Lease (this
“Lease”), dated as of the date set forth in Section 1.1, is made by and between HUDSON SKYWAY
LANDING, LLC, a Delaware limited liability company (“Landlord”),
and LION BIOTECHNOLOGIES, INC., a Nevada corporation(“Tenant”). The following exhibits are incorporated
herein and made a part hereof: Exhibit A (Outline of Premises); Exhibit B (Work Letter);
Exhibit C (Form of Confirmation Letter); Exhibit D (Rules and Regulations); Exhibit E
(Judicial Reference); Exhibit F (Additional Provisions) and Exhibit G (Outline and Location of
Building Signage).

 

		1	BASIC LEASE INFORMATION.

 

	 	1.1	Date:	August 4, 2016
	 	 	 	 	 
	 	1.2	Premises.	 
	 	 	 	 	 
	 	 	1.2.1	“Building”:	999 Skyway Road, San Carlos, California, commonly known as Skyway Landing II.
	 	 	 	 	 
	 	 	1.2.2	“Premises”:	Subject to Section 2.1.1, 8,733 rentable square feet of space located on the first floor of the Building and commonly known as Suite No. 150, the outline and location of which is set forth in Exhibit A.  If the Premises include any floor in its entirety, all corridors and restroom facilities located on such floor shall be considered part of the Premises.
	 	 	 	 	 
	 	 	1.2.3	“Property”:	The Building, the parcel(s) of land upon which it is located, and, at Landlord’s discretion, any parking facilities and other improvements serving the Building and the parcel(s) of land upon which such parking facilities and other improvements are located. 
	 	 	 	 	 
	 	 	1.2.4	“Project”:	The Property or, at Landlord’s discretion, any project containing the Property and any other land, buildings or other improvements.
	 	 	 	 	 
	 	1.3	Term	 
	 	 	 	 	 
	 	 	1.3.1	Term:	The term of this Lease (the “Term”) shall begin on the Commencement Date and expire on the Expiration Date (or any earlier date on which this Lease is terminated as provided herein).
	 	 	 	 	 
	 	 	1.3.2	“Commencement Date”:	The earlier of (i) the first date on which Tenant conducts business in the Premises, or (ii) the date on which the Tenant Improvement Work (defined in Exhibit B) is Substantially Complete (defined in Exhibit B), which is anticipated to be October 21, 2016.  Notwithstanding the foregoing, Tenant may enter the Premises before the Commencement Date, solely for the purpose of installing telecommunications and data cabling, equipment, furnishings and other personal property in the Premises.  Other than the obligation to pay Monthly Rent, all of Tenant’s obligations hereunder shall apply during any period of such early entry.  Notwithstanding the foregoing, Landlord may limit, suspend or terminate Tenant’s rights to enter the Premises early pursuant to this section if Landlord reasonably determines that such entry is endangering individuals working in the Premises or is delaying completion of the Tenant Improvement Work.  Notwithstanding any contrary provision hereof, if the Commencement Date does not occur on or before the Outside Completion Date (defined below), Tenant, as its sole remedy, shall be entitled to an abatement of Base Rent, beginning on the date immediately following the conclusion of the Base Rent Abatement Period (defined in Section 1.4 below), in the amount of $1,251.73 for each day in the period beginning on the Outside Completion Date and ending on the date immediately preceding the Commencement Date.  As used herein, “Outside Completion Date” means November 1, 2016; provided, however, that the Outside Completion Date shall be postponed by one (1) day for each day, if any, by which the Substantial Completion of the Tenant Improvement Work is delayed by any event of Force Majeure.
	 	 	 	 	 
	 	 	1.3.3	“Expiration Date”:	The last day of the 54th full calendar month beginning on the Commencement Date; provided, however, that if the Commencement Date is not the first day of a month, then the Expiration Date shall be the last day of the 54th full calendar month beginning immediately after the Commencement Date.

 

     

     

    

 

	 	 	1.4	“Base Rent”:	 	 
	 	 	 	
        Period During

        Term
	Annual Base Rent Per Rentable Square Foot (rounded to the nearest 100th of a dollar)	Monthly Base 

Rent Per Rentable 

Square Foot 

(rounded to the 

nearest 100th of a dollar)	Monthly

Installment

of Base Rent
	 	 	 	 	 	 	 
	 	 	 	Commencement Date through last day of 12th full calendar month of Term	$51.60	$4.30	$37,551.90
	 	 	 	 	 	 	 
	 	 	 	13th through 24th full calendar months of Term	$53.15	$4.43	$38,678.46
	 	 	 	 	 	 	 
	 	 	 	25th through 36th full calendar months of Term	$54.74	$4.56	$39,838.81
	 	 	 	 	 	 	 
	 	 	 	37th through 48th full calendar months of Term	$56.38	$4.70	$41,033.98
	 	 	 	 	 	 	 
	 	 	 	49th full calendar month of Term through Expiration Date	$58.08	$4.84	$42,264.99

 

     

     

    

 

Notwithstanding the foregoing,
Base Rent shall be abated, in the amount of $37,551.90 per month, for the first two full calendar months of the Term (the “Base
Rent Abatement Period”); provided, however, that if a Default (defined in Section 19.1) exists when
any such abatement would otherwise apply, such abatement shall be deferred until the date, if any, on which such Default is cured.

 

	 	1.5	“Base Year” for Expenses:	Calendar year 2017.
	 	 	 	 
	 	 	“Base Year” for
Taxes:	Calendar year 2017.
	 	 	 	 
	 	1.6	“Tenant’s Share”:	7.3699% (based upon a total of 118,496 rentable square feet in the Building), subject to Section 2.1.1.
	 	 	 	 
	 	1.7	“Permitted Use”:	General office use consistent with a first-class office building.
	 	 	 	 
	 	1.8.	“Security Deposit”:	$75,000.00, as more particularly described in Section 21. Notwithstanding the foregoing, if no Default occurs on or before the second anniversary of the Commencement Date, then, upon written request from Tenant delivered not earlier than such anniversary:  (a) the amount of the Security Deposit shall be reduced to $50,000.00, and (b) Landlord, within 30 days after such request, shall return to Tenant the portion of the Security Deposit exceeding such reduced amount; provided, however, that no such reduction shall occur and no such return shall be required if a Default occurs before the earlier of (i) the date on which such return occurs, or (ii) or the date occurring 30 days after such request.
	 	 	 	 
	 		Prepaid Base Rent:	$37,551.90, as more particularly described in Section 3.
	 	 	 	 
	 	1.9	Parking:	
         

        29 unreserved parking spaces, at the rate
        of $00.00 per space per month.

	 	 	 	 
	 	1.10	Address of Tenant:	
        Before the Commencement Date:

         

        112 West 34th Street, 18th
        Floor

        New York, NY 10120

         

        From and after the Commencement Date:
        the Premises.

	 	 	 	 
	 	1.11	Address of Landlord:	
        

        Hudson Skyway Landing, LLC

        c/o Hudson Pacific Properties

        950 Tower Lane, Suite 1800

        Foster City, California 94404

        Attn: Building manager

         

        with copies to:

         

        Hudson Skyway Landing, LLC

        c/o Hudson Pacific Properties

        950 Tower Lane, Suite 1800

        Foster City, California 94404

        Attn: Managing Counsel

         

        and

         

        Hudson Skyway Landing, LLC

        c/o Hudson Pacific Properties

        11601 Wilshire Boulevard, Suite 900

        Los Angeles, California 90025

        Attn: Lease Administration

	 	 	 	 
	 	1.12	Broker(s):	Cushman & Wakefield (“Tenant’s Broker”), representing Tenant, and Newmark Cornish & Carey (“Landlord’s Broker”), representing Landlord.
	 	 	 	 
	 	1.13	Building HVAC Hours and Holidays:

	
        

        “Building HVAC Hours”
        means 8:00 a.m. to 6:00 p.m., Monday
        through Friday, excluding the day of observation of New Year’s Day, Presidents Day, Memorial Day, Independence Day, Labor
        Day, Thanksgiving Day, Christmas Day, and, at Landlord’s discretion, any other locally or nationally recognized holiday that
        is observed by other Comparable Buildings (defined in Section 25.10) (collectively, “Holidays”).

	 	 	 	 
	 	1.14	“Tenant Improvements”:	Defined in Exhibit B, if any.
	 	 	 	 
	 	1.15	“Guarantor”:	None.

 

     

     

    

 

2PREMISES AND COMMON AREAS.

 

2.1The
Premises.

 

2.1.1Subject
to the terms hereof, Landlord hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. Landlord
and Tenant acknowledge that the rentable square footage of the Premises is as set forth in Section 1.2.2 and the rentable
square footage of the Building is as set forth in Section 1.6; provided, however, that Landlord may from time to time
re-measure the Premises and/or the Building in accordance with any generally accepted measurement standards selected by Landlord
and adjust Tenant’s Share based on such re-measurement; provided further, however, that any such re-measurement shall not
affect the amount of Base Rent payable for, or the amount of any tenant allowance applicable to, the initial Term. At any time
Landlord may deliver to Tenant a notice substantially in the form of Exhibit C,
as a confirmation of the information set forth therein. Tenant shall execute and return (or, by notice to Landlord, reasonably
object to) such notice within 20 days after receiving it, and if Tenant fails to do so, Tenant shall be deemed to have executed
and returned it without exception.

 

2.1.2Except
as expressly provided herein (including, without limitation, Exhibit B hereto),
the Premises are accepted by Tenant in their configuration and condition existing on the date hereof, without any obligation of
Landlord to perform or pay for any alterations to the Premises, and without any representation or warranty regarding the configuration
or condition of the Premises, the Building or the Project or their suitability for Tenant’s business. Landlord shall deliver
the Premises to Tenant with the floors cleared of trash and swept. Nothing in this Section 2.1.2 shall limit Landlord’s
obligations under Sections 5 and/or 7.1 hereof.

 

2.2Common
Areas. Tenant may use, in common with Landlord and other parties and subject to the Rules
and Regulations (defined in Exhibit D), any portions of the Property that
are designated from time to time by Landlord for such use (the “Common Areas”).

 

3RENT.
Tenant shall pay all Base Rent and Additional Rent (defined below) (collectively, “Rent”)
to Landlord or Landlord’s agent, without prior notice or demand or any setoff or deduction (except as otherwise explicitly
set forth herein), at the place Landlord may designate from time to time, in money of the United States of America that, at the
time of payment, is legal tender for the payment of all obligations. As used herein, “Additional Rent”
means all amounts, other than Base Rent, that Tenant is required to pay Landlord hereunder. Monthly payments of Base Rent and monthly
payments of Additional Rent for Expenses (defined in Section 4.2.2), and Taxes (defined in Section 4.2.3)
(collectively, “Monthly Rent”) shall be paid in advance on or before the first
day of each calendar month during the Term; provided, however, that the installment of Base Rent for the first full calendar month
for which Base Rent is payable hereunder shall be paid upon Tenant’s execution and delivery hereof. Except as otherwise provided
herein, all other items of Additional Rent shall be paid within 30 days after Landlord’s request for payment. Rent for
any partial calendar month shall be prorated based on the actual number of days in such month. Without limiting Landlord’s
other rights or remedies, (a) if any installment of Rent is not received by Landlord or its designee within five (5)
business days after its due date, Tenant shall pay Landlord a late charge equal to 5% of the overdue amount (provided, however,
that such late charge shall not apply to any such delinquency unless either (i) such delinquency is not cured within five (5) business
days after notice from Landlord, or (ii) Tenant previously received notice from Landlord of a delinquency that occurred earlier
in the same calendar year); and (b) any Rent that is not paid within 10 days after its due date shall bear interest,
from its due date until paid, at the lesser of 10% per annum or the highest rate permitted by Law (defined in Section 5).
Tenant’s covenant to pay Rent is independent of every other covenant herein. 

 

     

     

    

 

4EXPENSES AND TAXES.

 

4.1General
Terms. In addition to Base Rent, Tenant shall pay, in accordance with Section 4.4,
for each Expense Year (defined in Section 4.2.1), an amount equal to the sum of (a) Tenant’s Share of any
amount (the “Expense Excess”) by which Expenses for such Expense Year exceed
Expenses for the Base Year, plus (b) Tenant’s Share of any amount (the “Tax Excess”)
by which Taxes for such Expense Year exceed Taxes for the Base Year. No decrease in Expenses or Taxes for any Expense Year below
the corresponding amount for the Base Year shall entitle Tenant to any decrease in Base Rent or any credit against amounts due
hereunder. Tenant’s Share of the Expense Excess and Tenant’s Share of the Tax Excess for any partial Expense Year shall
be prorated based on the number of days in such Expense Year.

 

4.2Definitions.
As used herein, the following terms have the following meanings:

 

4.2.1“Expense
Year” means each calendar year (other than the Base Year and any preceding calendar year)
in which any portion of the Term occurs.

 

4.2.2“Expenses”
means all expenses, costs and amounts that Landlord pays or accrues during the Base Year or any Expense Year because of or in connection
with the ownership, management, maintenance, security, repair, replacement, restoration or operation of the Property. Landlord
shall act in a reasonable manner in incurring Expenses. Expenses shall include (i) the cost of supplying all utilities, the
cost of operating, repairing, maintaining and renovating the utility, telephone, mechanical, sanitary, storm-drainage, and elevator
systems, and the cost of maintenance and service contracts in connection therewith; (ii) the cost of licenses, certificates,
permits and inspections, the cost of contesting any Laws that may affect Expenses, and the costs of complying with any governmentally-mandated
transportation-management or similar program; (iii) the cost of all insurance premiums and deductibles; (iv) the cost
of landscaping and relamping; (v) the cost of parking-area operation, repair, restoration, and maintenance; (vi) a management
fee in the amount (which fee may be imputed if Landlord has internalized management or otherwise acts as its own property manager
and which fee is hereby acknowledged to be reasonable) of not less than 3% of gross annual receipts from the Property (excluding
the management fee), together with other fees and costs, including consulting fees, legal fees and accounting fees, of all contractors
and consultants in connection with the management, operation, maintenance and repair of the Property; (vii) the fair rental
value of any management office space; (viii) wages, salaries and other compensation, expenses and benefits, including taxes
levied thereon, of all persons engaged in the operation, maintenance and security of the Property, and costs of training, uniforms,
and employee enrichment for such persons; (ix) the costs of operation, repair, maintenance and replacement of all systems
and equipment (and components thereof) of the Property; (x) the cost of janitorial, alarm, security and other services, replacement
of wall and floor coverings, ceiling tiles and fixtures in Common Areas, maintenance and replacement of curbs and walkways, repair
to roofs and re-roofing; (xi) rental or acquisition costs of supplies, tools, equipment, materials and personal property used
in the maintenance, operation and repair of the Property; (xii) the cost of capital improvements or any other items that are
(A) intended to reduce current or future Expenses or enhance the safety or security of the Property or its occupants, or (B) required
under any Law (except to the extent that such Law was in effect and required the installation of such capital improvements or other
items before the date hereof); (xiii) intentionally omitted; and (xiv) payments under any existing or future reciprocal
easement agreement, transportation management agreement, cost-sharing agreement or other covenant, condition, restriction or similar
instrument affecting the Property.

 

Notwithstanding the
foregoing, Expenses shall not include: (a) capital expenditures not described in clauses (xi) or (xii) above (in addition,
any capital expenditure shall be included in Expenses only if paid or accrued after the Base Year and shall be amortized (including
actual or imputed interest on the amortized cost) over the lesser of (i) the useful life of the item purchased through such
capital expenditure, as reasonably determined by Landlord, or (ii) the period of time that Landlord reasonably estimates will
be required for any Expense savings resulting from such capital expenditure to equal such capital expenditure; provided, however,
that any capital expenditure that is included in Expenses solely on the grounds that it is intended to reduce current or future
Expenses shall be so amortized over the period of time described in the preceding clause (ii)); (b) depreciation; (c) principal
payments of mortgage or other non-operating debts of Landlord; (d) costs of repairs to the extent Landlord is reimbursed by
insurance or condemnation proceeds; (e) except as provided in clause (xiii) above, costs of leasing space in the Building,
including brokerage commissions, lease concessions, rental abatements and construction allowances granted to specific tenants;
(f) costs of selling, financing or refinancing the Building; (g) fines, penalties or interest resulting from late payment
of Taxes or Expenses; (h) organizational expenses of creating or operating the entity that constitutes Landlord; (i) damages
paid to Tenant hereunder or to other tenants of the Building under their respective leases; (j) amounts (other than management
fees) paid to Landlord’s affiliates for services, but only to the extent such amounts exceed the prices charged for such
services by parties having similar skill and experience; (k) fines or penalties resulting from any violations of Law, negligence
or willful misconduct of Landlord or its employees, agents or contractors; (l) advertising and promotional expenses; (m) Landlord’s
charitable and political contributions; (n) ground lease rental; (o) attorney’s fees and other expenses incurred in connection
with negotiations or disputes with tenants or other occupants of the Building; (p) costs of services or benefits made available
to other tenants of the Building but not to Tenant; (q) costs of purchasing or leasing major sculptures, paintings or other artwork
(as opposed to decorations purchased or leased by Landlord for display in the Common Areas of the Building); (r) any expense for
which Landlord has received actual reimbursement from a third party (other than from a tenant of the Building pursuant to its lease);
(s) costs of curing defects in design or original construction of the Property; (t) costs that Landlord is entitled to recover
under a warranty, except to the extent it would not be fiscally prudent to pursue legal action to recover such costs; (u) expenses
(other than Parking Expenses (defined below)) of operating any commercial concession at the Project; (v) Parking Expenses
(defined below), except to the extent Parking Expenses exceed parking revenues on an annual basis (as used herein, “Parking
Expenses” means costs of operating, maintaining and repairing the Parking Facility, including costs of parking equipment,
tickets, supplies, signs, cleaning, resurfacing, restriping, parking-garage management fees, and the wages, salaries, employee
benefits and taxes for individuals working exclusively in the Parking Facility; provided, however, that Parking Expenses shall
exclude (i) capital expenses, and (ii) costs of electricity, janitorial service, elevator maintenance and insurance); (w) reserves;
(x) bad debt expenses; (y) costs of cleaning up Hazardous Materials, except for routine cleanup performed as part of
the ordinary operation and maintenance of the Property (as used herein, “Hazardous Materials” means any material now
or hereafter defined or regulated by any Law or governmental authority as radioactive, toxic, hazardous, or waste, or a chemical
known to the state of California to cause cancer or reproductive toxicity, including (1) petroleum and any of its constituents
or byproducts, (2) radioactive materials, (3) asbestos in any form or condition, and (4) materials regulated by any of the following,
as amended from time to time, and any rules promulgated thereunder: the Comprehensive Environmental Response, Compensation and
Liability Act of 1980, 42 U.S.C. §§9601 et seq.; the Resource Conservation and Recovery Act, 42 U.S.C. §§6901,
et seq.; the Toxic Substances Control Act, 15 U.S.C. §§2601, et seq.; the Clean Water Act, 33 U.S.C. §§1251
et seq; the Clean Air Act, 42 U.S.C. §§7401 et seq.;The California Health and Safety Code; The California Water Code;
The California Labor Code; The California Public Resources Code; and The California Fish and Game Code.); or (z) wages, salaries,
fees or fringe benefits (“Labor Costs”) paid to executive personnel or officers or partners of Landlord (provided,
however, that if such individuals provide services directly related to the operation, maintenance or ownership of the Property
that, if provided directly by a general manager or property manager or his or her general support staff, would normally be chargeable
as an operating expense of a comparable office building, then the Labor Costs of such individuals may be included in Expenses to
the extent of the percentage of their time that is spent providing such services to the Property).

 

     

     

    

 

If, during any portion
of the Base Year or any Expense Year, the Building is not 100% occupied (or a service provided by Landlord to Tenant is not provided
by Landlord to a tenant that provides such service itself, or any tenant of the Building is entitled to free rent, rent abatement
or the like), Expenses for such year shall be determined as if the Building had been 100% occupied (and all services provided by
Landlord to Tenant had been provided by Landlord to all tenants, and no tenant of the Building had been entitled to free rent,
rent abatement or the like) during such portion of such year. Notwithstanding any contrary provision hereof, Expenses for the Base
Year shall exclude (a) any market-wide cost increases resulting from extraordinary circumstances, including Force Majeure
(defined in Section 25.2), boycotts, strikes, conservation surcharges, embargoes or shortages, and (b) at Landlord’s
option, the cost of any repair or replacement that Landlord reasonably expects will not recur on an annual or more frequent basis.

 

4.2.3“Taxes”
means all federal, state, county or local governmental or municipal taxes, fees, charges, assessments, levies, licenses or other
impositions, whether general, special, ordinary or extraordinary, that are paid or accrued during the Base Year or any Expense
Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection
with the ownership, leasing or operation of the Property. Taxes shall include (a) real estate taxes; (b) general and
special assessments; (c) transit taxes; (d) leasehold taxes; (e) personal property taxes imposed upon the fixtures,
machinery, equipment, apparatus, systems, appurtenances, furniture and other personal property used in connection with the Property;
(f) any tax on the rent, right to rent or other receipts from any portion of the Property or as against the business of leasing
any portion of the Property; (g) any assessment, tax, fee, levy or charge imposed by any governmental agency, or by any non-governmental
entity pursuant to any private cost-sharing agreement, in order to fund the provision or enhancement of any fire-protection, street-,
sidewalk- or road-maintenance, refuse-removal or other service that is (or, before the enactment of Proposition 13, was) normally
provided by governmental agencies to property owners or occupants without charge (other than through real property taxes); and
(h) payments in lieu of taxes under any tax increment financing agreement, abatement agreement, agreement to construct improvements,
or other agreement with any governmental body or agency or taxing authority. Any costs and expenses (including reasonable attorneys’
and consultants’ fees) incurred in attempting to protest, reduce or minimize Taxes shall be included in Taxes for the year
in which they are incurred. Notwithstanding any contrary provision hereof, Taxes shall exclude (i) all excess profits taxes,
franchise taxes, gift taxes, capital stock taxes, inheritance and succession taxes, transfer taxes, estate taxes, federal and state
income taxes, and other taxes to the extent (x) applicable to Landlord’s general or net income (as opposed to rents
or receipts attributable to operations at the Property), or (y) measured solely by the square footage, rent, fees, services,
tenant allowances or similar amounts, rights or obligations described or provided in or under any particular lease, license or
similar agreement or transaction at the Building; (ii) any Expenses, and (iii) any items required to be paid or reimbursed
by Tenant under Section 4.5. If any assessment included in Taxes can be paid by Landlord in installments, such assessment
shall not be included in Taxes in any calendar year in an amount exceeding that which would be included in Taxes in such calendar
year if such assessment were paid in the maximum number of installments permitted by Law.

 

     

     

    

 

4.3Allocation.
Landlord, in its reasonable discretion, may equitably allocate Expenses among office, retail or other portions or occupants of
the Property. If Landlord incurs Expenses or Taxes for the Property together with another property, Landlord, in its reasonable
discretion, shall equitably allocate such shared amounts between the Property and such other property.

 

4.4Calculation
and Payment of Expense Excess and Tax Excess.

 

4.4.1Statement
of Actual Expenses and Taxes; Payment by Tenant. Landlord shall give to Tenant, after the end
of each Expense Year, a statement (the “Statement”) setting forth the actual
Expenses, Taxes, Expense Excess and Tax Excess for such Expense Year. If the amount paid by Tenant for such Expense Year pursuant
to Section 4.4.2 is less or more than the sum of Tenant’s Share of the actual Expense Excess plus Tenant’s
Share of the actual Tax Excess (as such amounts are set forth in such Statement), Tenant shall pay Landlord the amount of such
underpayment, or receive a credit in the amount of such overpayment, with or against the Rent then or next due hereunder; provided,
however, that if this Lease has expired or terminated and Tenant has vacated the Premises, Tenant shall pay Landlord the amount
of such underpayment, or Landlord shall pay Tenant the amount of such overpayment (less any Rent due), within 30 days after
delivery of such Statement. Any failure of Landlord to timely deliver the Statement for any Expense Year shall not diminish either
party’s rights under this Section 4. Notwithstanding the foregoing, if Landlord fails to furnish a Statement by April 30
of the second (2nd) calendar year following the Expense Year to which such Statement applies, Tenant shall not
be required to pay Landlord any underpayment for such Expense Year, except as provided in Section 4.4.3.

 

4.4.2Statement
of Estimated Expenses and Taxes. Landlord shall give to Tenant, for each Expense Year, a statement
(the “Estimate Statement”) setting forth Landlord’s reasonable estimates
of the Expenses, Taxes, Expense Excess (the “Estimated Expense Excess”) and
Tax Excess (the “Estimated Tax Excess”) for such Expense Year. Upon receiving
an Estimate Statement, Tenant shall pay, with its next installment of Base Rent, an amount equal to the excess of (a) the
amount obtained by multiplying (i) the sum of Tenant’s Share of the Estimated Expense Excess plus Tenant’s Share
of the Estimated Tax Excess (as such amounts are set forth in such Estimate Statement), by (ii) a fraction, the numerator
of which is the number of months that have elapsed in the applicable Expense Year (including the month of such payment) and the
denominator of which is 12, over (b) any amount previously paid by Tenant for such Expense Year pursuant to this Section 4.4.2.
Until Landlord delivers a new Estimate Statement (which Landlord may do at any time), Tenant shall pay monthly, with the monthly
Base Rent installments, an amount equal to one-twelfth (1/12) of the sum of Tenant’s Share of the Estimated Expense Excess
plus Tenant’s Share of the Estimated Tax Excess, as such amounts are set forth in the previous Estimate Statement. Landlord
shall use reasonable efforts to deliver, on or before January 1 of each Expense Year (or, if later, the Commencement Date), an
Estimate Statement for such Expense Year. Any failure of Landlord to timely deliver any Estimate Statement shall not diminish Landlord’s
rights to receive payments and revise any previous Estimate Statement under this Section 4.

 

4.4.3Retroactive
Adjustment of Taxes. Notwithstanding any contrary provision hereof, if, after Landlord’s
delivery of any Statement, an increase or decrease in Taxes occurs for the applicable Expense Year or for the Base Year (whether
by reason of reassessment, error, or otherwise), Taxes for such Expense Year or the Base Year, as the case may be, and the Tax
Excess for such Expense Year shall be retroactively adjusted. If, as a result of such adjustment, it is determined that Tenant
has under- or overpaid Tenant’s Share of such Tax Excess, Tenant shall pay Landlord the amount of such underpayment, or receive
a credit in the amount of such overpayment, with or against the Rent then or next due hereunder; provided, however, that if this
Lease has expired or terminated and Tenant has vacated the Premises, Tenant shall pay Landlord the amount of such underpayment,
or Landlord shall pay Tenant the amount of such overpayment (less any Rent due), within 30 days after such adjustment is made.

 

4.5Charges
for Which Tenant Is Directly Responsible. Notwithstanding any contrary provision hereof,
Tenant, promptly upon demand, shall pay (or if paid by Landlord, reimburse Landlord for) each of the following to the extent levied
against Landlord or Landlord’s property: (a) any tax based upon or measured by (i) the cost or value of Tenant’s
trade fixtures, equipment, furniture or other personal property, or (ii) the cost or value of the Leasehold Improvements (defined
in Section 7.1) to the extent such cost or value exceeds that of a Building-standard build-out, as determined by Landlord;
(b) any rent tax, sales tax, service tax, transfer tax, value added tax, use tax, business tax, gross income tax, gross receipts
tax, or other tax, assessment, fee, levy or charge measured solely by the square footage, Rent, services, tenant allowances or
similar amounts, rights or obligations described or provided in or under this Lease; (c) any tax assessed upon the possession,
leasing, operation, management, maintenance, alteration, repair, use or occupancy by Tenant of any portion of the Property; and
(d) any tax assessed on this transaction or on any document to which Tenant is a party that creates an interest or estate
in the Premises.

 

     

     

    

 

4.6Books
and Records. Within 90 days after receiving any Statement (the “Review
Notice Period”), Tenant may give Landlord notice (“Review Notice”)
stating that Tenant elects to review Landlord’s calculation of the Expense Excess and/or Tax Excess for the Expense Year
to which such Statement applies and identifying with reasonable specificity the records of Landlord reasonably relating to such
matters that Tenant desires to review. Within a reasonable time after receiving a timely Review Notice (and, at Landlord’s
option, an executed confidentiality agreement as described below), Landlord shall deliver to Tenant, or make available for inspection
at a location reasonably designated by Landlord, copies of such records. Within 60 days after such records are made available to
Tenant (the “Objection Period”), Tenant may deliver to Landlord notice (an
“Objection Notice”) stating with reasonable specificity any objections to
the Statement, in which event Landlord and Tenant shall work together in good faith to resolve Tenant’s objections. Tenant
may not deliver more than one Review Notice or more than one Objection Notice with respect to any Statement. If Tenant fails to
give Landlord a Review Notice before the expiration of the Review Notice Period or fails to give Landlord an Objection Notice before
the expiration of the Objection Period, Tenant shall be deemed to have approved the Statement. Notwithstanding any contrary provision
hereof, Landlord shall not be required to deliver or make available to Tenant records relating to the Base Year, and Tenant may
not object to Expenses or Taxes for the Base Year, other than in connection with the first review for an Expense Year performed
by Tenant pursuant to this Section 4.6. If Tenant retains an agent to review Landlord’s records, the agent must
be with a CPA firm licensed to do business in the State of California with experience reviewing books and records kept for Comparable
Buildings and its fees shall not be contingent, in whole or in part, upon the outcome of the review. Tenant shall be responsible
for all costs of such review; provided, however, that if Landlord and Tenant determine that the sum of Expenses and Taxes for the
Expense Year in question was overstated by more than 5.00%, Landlord, within 30 days after receiving paid invoices therefor from
Tenant, shall reimburse Tenant for the reasonable amounts paid by Tenant to third parties in connection with such review (not to
exceed $5,000.00). The records and any related information obtained from Landlord shall be treated as confidential, and as applicable
only to the Premises, by Tenant, its auditors, consultants, and any other parties reviewing the same on behalf of Tenant (collectively,
“Tenant’s Auditors”). Before making any records available for review,
Landlord may require Tenant and Tenant’s Auditors to execute a reasonable confidentiality agreement, in which event Tenant
shall cause the same to be executed and delivered to Landlord within 30 days after receiving it from Landlord, and if Tenant
fails to do so, the Objection Period shall be reduced by one day for each day by which such execution and delivery follows the
expiration of such 30-day period. Notwithstanding any contrary provision hereof, Tenant may not examine Landlord’s records
or dispute any Statement if any Rent remains unpaid past its due date. If, for any Expense Year, Landlord and Tenant determine
that the sum of Tenant’s Share of the actual Expense Excess plus Tenant’s Share of the actual Tax Excess is less or
more than the amount reported, Tenant shall receive a credit in the amount of its overpayment, or pay Landlord the amount of its
underpayment, against or with the Rent next due hereunder; provided, however, that if this Lease has expired or terminated and
Tenant has vacated the Premises, Landlord shall pay Tenant the amount of its overpayment (less any Rent due), or Tenant shall pay
Landlord the amount of its underpayment, within 30 days after such determination.

 

5USE; COMPLIANCE WITH LAWS.

 

5.1Tenant
shall not (a) use the Premises for any purpose other than the Permitted Use, or (b) do anything in or about the Premises
that violates any of the Rules and Regulations, damages the reputation of the Project, interferes with, injures or annoys other
occupants of the Project, or constitutes a nuisance. Tenant, at its expense, shall comply with all Laws relating to (i) the
operation of its business at the Project, (ii) the use, occupancy and, other than with respect to elements of the Base Building,
the condition and configuration of the Premises, or (iii) any Supplemental Systems (defined below) serving the Premises, whether
located inside or outside of the Premises. If, in order to comply with any such Law, Tenant must obtain or deliver any permit,
certificate or other document evidencing such compliance, Tenant shall provide a copy of such document to Landlord promptly after
obtaining or delivering it. If a change to any Common Area or the Base Building becomes required under Law (or if any such requirement
is enforced) as a result of any Tenant-Insured Improvement (defined in Section 10.2.2) that is not of a type customarily
required for general office use, any trade fixture that is not of a type customarily required for general office use or because
any use of the Premises that is not general office use, then Tenant, upon demand, shall (x) at Landlord’s option, either
make such change at Tenant’s cost or pay Landlord the cost of making such change, and (y) pay Landlord a coordination
fee equal to 5% of the cost of such change. As used herein, “Law” means any
existing or future law, ordinance, regulation or requirement of any governmental authority having jurisdiction over the Project
or the parties. As used herein, “Supplemental System” means any Unit (defined
in Section 25.5), supplemental fire-suppression system, kitchen (including any hot water heater, dishwasher, garbage
disposal, insta-hot dispenser, or plumbing), shower or similar facility, or any other system that would not customarily be considered
part of the base building of a first-class multi-tenant office building. As used herein, “Base Building System”
means any mechanical (including HVAC), electrical, plumbing or fire/life-safety system serving the Building, other than a Supplemental
System. As used herein, “Base Building” means the structural portions of the
Building, together with the Base Building Systems.

 

     

     

    

 

5.2Landlord,
at its expense (subject to Section 4), shall cause the Base Building and the Common Areas to comply with all Laws
(including the Americans with Disabilities Act (“ADA”)) to the extent that
(a) such compliance is necessary for Tenant to use the Premises for general office use in a normal and customary manner and
for Tenant’s employees and visitors to have reasonably safe access to and from the Premises, or (b) Landlord’s
failure to cause such compliance would impose liability upon Tenant under Law; provided, however, that Landlord shall not be required
to cause or pay for such compliance to the extent that (x) Tenant is required to cause or pay for such compliance under Section 5.1
or 7.3 or any other provision hereof, or (y) non-compliance arises under any provision of the ADA other than Title III
thereof. Notwithstanding the foregoing, Landlord may contest any alleged violation in good faith, including by applying for and
obtaining a waiver or deferment of compliance, asserting any defense allowed by Law, and appealing any order or judgment to the
extent permitted by Law; provided, however, that (i) no cost or liability shall be imposed upon Tenant as a result of such
contest, and (ii) after exhausting any rights to contest or appeal, Landlord shall perform any work necessary to comply with any
final order or judgment.

 

6SERVICES.

 

6.1Standard
Services. Landlord shall provide the following services on all days (unless otherwise stated
below): (a) subject to limitations imposed by Law, customary heating, ventilation and air conditioning (“HVAC”)
in season during Building HVAC Hours, stubbed to the Premises; (b) electricity supplied by the applicable public utility,
stubbed to the Premises; (c) water supplied by the applicable public utility (i) for use in lavatories and any drinking
facilities located in Common Areas within the Building, and (ii) stubbed to the Building core for use in any plumbing fixtures
located in the Premises; (d) janitorial services to the Premises, except on weekends and Holidays; (e) elevator service
(subject to scheduling by Landlord for any freight service) and (f) access to the Building for Tenant and its employees, 24 hours
per day/7 days per week, subject to the terms hereof and such security or monitoring systems as Landlord may reasonably impose,
including sign-in procedures and/or presentation of identification cards.

 

6.2Above-Standard
Use. Landlord shall provide HVAC service outside Building HVAC Hours if Tenant requests such
service from Landlord pursuant to Landlord’s HVAC Request Procedure (defined below) and pays Landlord such hourly cost as
Landlord may require. The parties acknowledge that, as of the date hereof, Landlord’s charge for HVAC service outside Building
HVAC Hours is (i) $50.00 per hour, subject to change from time to time consistent with the Building’s then standard rate,
plus (ii) an $114.00 engineering overtime fee (subject to change from time to time consistent with the Building’s then standard
rate) associated with implementing such HVAC service when Tenant makes a request for such service by means of an Off-Hours Request
(defined below). As used herein, “Landlord HVAC Request Procedure” shall mean
either (a) when Tenant makes such request of Landlord on Monday through Friday (other than a Holiday) between the hours of 8:00
a.m. to 5:00 p.m., completing a work-order in Landlord’s on-line work-order system, (b) at any other time such request is
made (an “Off-Hours Request”), the completion of a telephone call to the answering
service number identified by Landlord, or (c) a notification to Landlord by such other means consistent with Landlord’s then
applicable Building standard procedures for tenants requesting HVAC service outside of Building HVAC Hours. Tenant acknowledges
and agrees that an Off-Hours Request may not be fulfilled immediately, and (depending on the circumstances) it may take several
hours for Landlord to implement such request. Tenant shall not, without Landlord’s prior consent, use equipment that may
affect the temperature maintained by the air conditioning system or consume above-Building-standard amounts of any water furnished
for the Premises by Landlord pursuant to Section 6.1. If Tenant’s consumption of electricity or water exceeds
the rate Landlord reasonably deems to be standard for the Building, Tenant shall pay Landlord, upon billing, the cost of such excess
consumption, including any costs of installing, operating and maintaining any equipment that is installed in order to supply or
measure such excess electricity or water. The connected electrical load of Tenant’s incidental-use equipment shall not exceed
the Building-standard electrical design load, and Tenant’s electrical usage shall not exceed the capacity of the feeders
to the Project or the risers or wiring installation. 

 

6.3Interruption.
Subject to Section 11, any failure to furnish, delay in furnishing, or diminution in the quality or quantity of any
service resulting from any application of Law, failure of equipment, performance of maintenance, repairs, improvements or alterations,
utility interruption, or event of Force Majeure (each, a “Service Interruption”)
shall not render Landlord liable to Tenant, constitute a constructive eviction, or excuse Tenant from any obligation hereunder.
Notwithstanding the foregoing, if all or a material portion of the Premises is made untenantable or inaccessible for more than
five (5) consecutive business days after notice from Tenant to Landlord by a Service Interruption that (a) does not result
from a Casualty (defined in Section 11), a Taking (defined in Section 13) or an Act of Tenant (defined
in Section 10.1), and (b) can be corrected through Landlord’s reasonable efforts, then, as Tenant’s
sole remedy, Monthly Rent shall abate for the period beginning on the day immediately following such 5-business-day period and
ending on the day such Service Interruption ends, but only in proportion to the percentage of the rentable square footage of the
Premises made untenantable or inaccessible and not occupied by Tenant.

 

     

     

    

 

7REPAIRS AND ALTERATIONS.

 

7.1Repairs.
Subject to Section 11, Tenant, at its expense, shall perform all maintenance and repairs (including replacements) to
the Premises, and keep the Premises in as good condition and repair as existed when Tenant took possession and as thereafter improved,
except for reasonable wear and tear and repairs that are Landlord’s express responsibility hereunder. Tenant’s maintenance
and repair obligations shall include (a) all leasehold improvements in the Premises, including any Tenant Improvements, any
Alterations (defined in Section 7.2), and any leasehold improvements installed pursuant to any prior lease (the “Leasehold
Improvements”), but excluding the Base Building; (b) any Supplemental Systems serving
the Premises, whether located inside or outside of the Premises; and (c) all Lines (defined in Section 23) and
trade fixtures. Notwithstanding the foregoing, if a Default (defined in Section 19.1) or an emergency exists, Landlord
may, at its option, perform such maintenance and repairs on Tenant’s behalf, in which case Tenant shall pay Landlord, upon
demand, the cost of such work plus a coordination fee equal to 10% of such cost. Landlord shall perform all maintenance and repairs
to (i) the roof and exterior walls and windows of the Building, (ii) the Base Building, and (iii) the Common Areas.

 

7.2Alterations.
Tenant may not make any improvement, alteration, addition or change to the Premises or to any mechanical, plumbing or HVAC facility
or other system serving the Premises (an “Alteration”) without Landlord’s
prior consent, which consent shall be requested by Tenant not less than 30 days before commencement of work and shall not
be unreasonably withheld by Landlord. Notwithstanding the foregoing, provided that Landlord receives 10 business days’
prior notice, Landlord’s prior consent shall not be required for any Alteration that (i) is reasonably estimated (together
with any other Alterations performed without Landlord’s consent pursuant to this sentence during the 12-month period ending
on the date of such notice) to cost less than $50,000.00; (ii) is not visible from outside the Premises; (iii) does not
affect any system or structural component of the Building; and (iv) does not require work to be performed inside the walls
or above the ceiling of the Premises (such Alteration being a “Cosmetic Alteration”).
For any Alteration, (a) Tenant, before beginning work, shall deliver to Landlord, and obtain Landlord’s approval of,
plans and specifications; (b) Landlord, in its discretion, may require Tenant to obtain security for performance satisfactory
to Landlord (other than with respect to Cosmetic Alterations); (c) Tenant shall deliver to Landlord “as built”
drawings (in CAD format, if requested by Landlord and if applicable), completion affidavits, full and final lien waivers, and all
governmental approvals; and (d) Tenant shall pay Landlord upon demand (i) Landlord’s reasonable out-of-pocket expenses
incurred in reviewing the work, and (ii) a coordination fee equal to 5.00% of the cost of the work; provided, however, that
this clause (d) shall not apply to any Tenant Improvements.

 

7.3Tenant
Work. Before beginning any repair or Alteration or any work affecting Lines (collectively,
“Tenant Work”), Tenant shall deliver to Landlord, and obtain Landlord’s
approval of, (a) names of contractors, subcontractors, mechanics, laborers and materialmen; (b) evidence of contractors’
and subcontractors’ insurance in amounts and coverages as Landlord may reasonably require; and (c) any required governmental
permits. Tenant shall perform all Tenant Work (i) in a good and workmanlike manner using materials of a quality reasonably
approved by Landlord; (ii) in compliance with any approved plans and specifications, all Laws, the National Electric Code,
and Landlord’s construction rules and regulations; and (iii) in a manner that does not impair the Base Building. If,
as a result of any Tenant Work, Landlord becomes required under Law to perform any inspection, give any notice, or cause such Tenant
Work to be performed in any particular manner, Tenant shall comply with such requirement and promptly provide Landlord with reasonable
documentation of such compliance. Landlord’s approval of Tenant’s plans and specifications shall not relieve Tenant
from any obligation under this Section 7.3. In performing any Tenant Work, Tenant shall not use contractors, services,
labor, materials or equipment that, in Landlord’s reasonable judgment, would disturb labor harmony with any workforce or
trades engaged in performing other work or services at the Project.

 

8LANDLORD’S PROPERTY.
All Leasehold Improvements shall become Landlord’s property upon installation and without compensation to Tenant. Notwithstanding
the foregoing, if any Tenant-Insured Improvements (other than any Unit, which shall be governed by Section 25.5) are
not, in Landlord’s reasonable judgment, Building-standard, then before the expiration or earlier termination hereof, Tenant
shall, at Landlord’s election, either (a) at Tenant’s expense, and except as otherwise notified by Landlord, remove
such Tenant-Insured Improvements (other than the Excluded Items, defined below), repair any resulting damage to the Premises or
Building, and restore the affected portion of the Premises to its configuration and condition existing before the installation
of such Tenant-Insured Improvements, or (b) pay Landlord an amount equal to the estimated cost of such work, as reasonably
determined by Landlord. If Tenant fails to timely perform any work required under clause (a) of the preceding sentence, Landlord
may perform such work at Tenant’s expense. As used herein, “Excluded Items”
means the Tenant Improvements shown with reasonable specificity on the Approved Space Plan (as initially defined in Section
2.3 of Exhibit B hereto). When Landlord approves any Tenant Improvements or
Alterations (or, in the case of any Tenant Improvements or Alterations not requiring Landlord’s approval hereunder, within
10 business days after Tenant’s request), Landlord shall identify any such Tenant Improvements or Alterations that, in Landlord’s
judgment, are not Building-standard.

 

     

     

    

 

9LIENS.
Tenant shall keep the Project free from any lien arising out of any work performed, material furnished or obligation incurred by
or on behalf of Tenant. Tenant shall remove any such lien within 10 business days after notice from Landlord, and if Tenant
fails to do so, Landlord, without limiting its remedies, may pay the amount necessary to cause such removal, whether or not such
lien is valid. The amount so paid, together with reasonable attorneys’ fees and expenses, shall be reimbursed by Tenant upon
demand.

 

10INDEMNIFICATION; INSURANCE.

 

10.1Waiver
and Indemnification. Tenant waives all claims against Landlord, its Security Holders (defined
in Section 17), Landlord’s managing agent(s), their (direct or indirect) owners, and the beneficiaries, trustees,
officers, directors, employees and agents of each of the foregoing (including Landlord, the “Landlord Parties”)
for (i) any damage to person or property (or resulting from the loss of use thereof), except to the extent such damage is
caused by any gross negligence, willful misconduct or breach of this Lease of or by any Landlord Party, or (ii) any failure
to prevent or control any criminal or otherwise wrongful conduct by any third party or to apprehend any third party who has engaged
in such conduct. Tenant shall indemnify, defend, protect, and hold the Landlord Parties harmless from any obligation, loss, claim,
action, liability, penalty, damage, cost or expense (including reasonable attorneys’ and consultants’ fees and expenses)
(each, a “Claim”) that is imposed or asserted by any third party and arises
from (a) any cause in, on or about the Premises, or (b) any negligence, willful misconduct or breach of this Lease of
or by Tenant, any party claiming by, through or under Tenant, their (direct or indirect) owners, or any of their respective beneficiaries,
trustees, officers, directors, employees, agents, contractors, licensees or invitees (each, an “Act of Tenant”),
except to the extent such Claim arises from any gross negligence, willful misconduct or breach of this Lease of or by any Landlord
Party (provided that in such case such Claims shall not be so excluded to the extent such Claims are covered by insurance carried
by Tenant or required to be carried by Tenant pursuant to this Lease).

 

10.2Tenant’s
Insurance. Tenant shall maintain the following coverages in the following amounts:

 

10.2.1Commercial
General Liability Insurance covering claims of bodily injury, personal injury and property damage arising out of Tenant’s
operations and contractual liabilities, including coverage formerly known as broad form, on an occurrence basis, with combined
primary and excess/umbrella limits of at least $3,000,000 each occurrence and $4,000,000 annual aggregate.

 

10.2.2Property
Insurance covering (i) all office furniture, trade fixtures, office equipment, free-standing cabinet work, movable partitions,
merchandise and all other items of Tenant’s property in the Premises installed by, for, or at the expense of Tenant, and
(ii) any Leasehold Improvements installed by or for the benefit of Tenant, whether pursuant to this Lease or pursuant to any
prior lease or other agreement to which Tenant was a party (“Tenant-Insured Improvements”).
Such insurance shall be written on a special cause of loss or all risk form for physical loss or damage, for the full replacement
cost value (subject to reasonable deductible amounts) new without deduction for depreciation of the covered items and in amounts
that meet any co-insurance clauses of the policies of insurance, and shall include coverage for damage or other loss caused by
fire or other peril, including vandalism and malicious mischief, theft, water damage of any type, including sprinkler leakage,
bursting or stoppage of pipes, and explosion, and providing business interruption coverage for a period of one year.

 

10.2.3Workers’
Compensation statutory limits and Employers’ Liability limits of $1,000,000.

 

10.3Form
of Policies. The minimum limits of insurance required to be carried by Tenant shall not limit
Tenant’s liability. Such insurance shall be issued by an insurance company that has an A.M. Best rating of not less
than A-VIII. Tenant’s Commercial General Liability Insurance shall (a) name the Landlord Parties and any other party
designated by Landlord (“Additional Insured Parties”) as additional insureds;
and (b) be primary insurance as to all claims thereunder and provide that any insurance carried by Landlord is excess and
non-contributing with Tenant’s insurance. Landlord shall be designated as a loss payee with respect to Tenant’s Property
Insurance on any Tenant-Insured Improvements. Tenant shall deliver to Landlord, on or before the Commencement Date and at least
15 days before the expiration dates thereof, certificates from Tenant’s insurance company on the forms currently designated
“ACORD 25” (Certificate of Liability Insurance) and “ACORD 28” (Evidence of Commercial Property Insurance)
or the equivalent. Attached to the ACORD 25 (or equivalent) there shall be an endorsement (or an excerpt from the policy)
naming the Additional Insured Parties as additional insureds, and attached to the ACORD 28 (or equivalent) there shall be
an endorsement (or an excerpt from the policy) designating Landlord as a loss payee with respect to Tenant’s Property Insurance
on any Tenant-Insured Improvements, and each such endorsement (or policy excerpt) shall be binding on Tenant’s insurance
company.

 

10.4Subrogation.
Notwithstanding any provision in this Lease to the contrary (but subject to the provisions set forth in Section 11 below
as well as the provisions set forth in Sections 4 and 8 of Exhibit D
hereto) each party waives, and shall cause its insurance carrier to waive, any right of recovery against the other party, any of
its (direct or indirect) owners, or any of their respective beneficiaries, trustees, officers, directors, employees or agents for
any loss of or damage to property which loss or damage is (or, if the insurance required hereunder had been carried, would have
been) covered by the waiving party’s property insurance. For purposes of this Section 10.4 only, (a) any
deductible with respect to a party’s insurance shall be deemed covered by, and recoverable by such party under, valid and
collectable policies of insurance, and (b) any contractor retained by Landlord to install, maintain or monitor a fire or security
alarm for the Building shall be deemed an agent of Landlord.

 

     

     

    

 

10.5Additional
Insurance Obligations. Tenant shall maintain such increased amounts of the insurance required
to be carried by Tenant under this Section 10, and such other types and amounts of insurance covering the Premises
and Tenant’s operations therein, as may be reasonably requested by Landlord, but not in excess of the amounts and types of
insurance then being required by landlords of Comparable Buildings.

 

10.6 Landlord’s
Insurance. Landlord shall maintain the following insurance, together with such other insurance coverage as Landlord, in
its reasonable judgment, may elect to maintain, the premiums of which shall be included in Expenses: (a) Commercial General
Liability insurance applicable to the Property, Building and Common Areas providing, on an occurrence basis, combined primary and
excess/umbrella limits of at least $3,000,000 each occurrence and $4,000,000 annual aggregate; (b) Special Cause of Loss or
All Risk Insurance on the Building at replacement cost value as reasonably estimated by Landlord; (c) Worker’s Compensation
insurance to the extent required by Law; and (d) Employers Liability Coverage to the extent required by Law.

 

11CASUALTY DAMAGE.
With reasonable promptness after discovering any damage to the Premises (other than trade fixtures), or to any Common Area or portion
of the Base Building necessary for access to or tenantability of the Premises, resulting from any fire or other casualty (a “Casualty”),
Landlord shall notify Tenant of Landlord’s reasonable estimate of the time required to substantially complete repair of such
damage (the “Landlord Repairs”). If, according to such estimate, the Landlord
Repairs cannot be substantially completed within 180 days after they are commenced, either party may terminate this Lease
upon 60 days’ notice to the other party delivered within 10 days after Landlord’s delivery of such estimate.
Within 90 days after discovering any damage to the Project resulting from any Casualty, Landlord may, whether or not the Premises
are affected, terminate this Lease by notifying Tenant if (i) any Security Holder terminates any ground lease or requires
that any insurance proceeds be used to pay any mortgage debt; (ii) any damage to Landlord’s property is not fully covered
by Landlord’s insurance policies; (iii) Landlord decides to rebuild the Building or Common Areas so that it or they
will be substantially different structurally or architecturally; (iv) the damage occurs during the last 12 months of
the Term; or (v) any owner, other than Landlord, of any damaged portion of the Project does not intend to repair such damage;
provided, however, that Landlord may not terminate this Lease pursuant to this sentence unless the Premises have been materially
damaged or Landlord also exercises all rights it may have acquired as a result of the Casualty to terminate any other similarly
situated leases of space in the Building. If this Lease is not terminated pursuant to this Section 11, Landlord shall
promptly and diligently perform the Landlord Repairs, subject to reasonable delays for insurance adjustment and other events of
Force Majeure. The Landlord Repairs shall restore the Premises (other than trade fixtures) and any Common Area or portion of the
Base Building necessary for access to or tenantability of the Premises to substantially the same condition that existed when the
Casualty occurred, except for (a) any modifications required by Law or any Security Holder, and (b) any modifications
to the Common Areas that are deemed desirable by Landlord, are consistent with the character of the Project, and do not materially
impair access to or tenantability of the Premises. Notwithstanding Section 10.4, Tenant shall assign to Landlord (or
its designee) all insurance proceeds payable to Tenant under Tenant’s insurance required under Section 10.2 with
respect to any Tenant-Insured Improvements, and if the estimated or actual cost of restoring any Tenant-Insured Improvements exceeds
the insurance proceeds received by Landlord from Tenant’s insurance carrier, Tenant shall pay such excess to Landlord within
15 days after Landlord’s demand. No Casualty and no restoration performed as required hereunder shall render Landlord
liable to Tenant, constitute a constructive eviction, or excuse Tenant from any obligation hereunder; provided, however, that if
the Premises (other than trade fixtures) or any Common Area or portion of the Base Building necessary for access to or tenantability
of the Premises is damaged by a Casualty, then, during any time that, as a result of such damage, any portion of the Premises is
inaccessible or untenantable and is not occupied by Tenant, Monthly Rent shall be abated in proportion to the rentable square footage
of such portion of the Premises.

 

12NONWAIVER.
No provision hereof shall be deemed waived by either party unless it is waived by such party expressly and in writing, and no waiver
of any breach of any provision hereof shall be deemed a waiver of any subsequent breach of such provision or any other provision
hereof. Landlord’s acceptance of Rent shall not be deemed a waiver of any preceding breach of any provision hereof, other
than Tenant’s failure to pay the particular Rent so accepted, regardless of Landlord’s knowledge of such preceding
breach at the time of such acceptance. No acceptance of payment of an amount less than the Rent due hereunder shall be deemed a
waiver of Landlord’s right to receive the full amount of Rent due, whether or not any endorsement or statement accompanying
such payment purports to effect an accord and satisfaction. No receipt of monies by Landlord from Tenant after the giving of any
notice, the commencement of any suit, the issuance of any final judgment, or the termination hereof shall affect such notice, suit
or judgment, or reinstate or extend the Term or Tenant’s right of possession hereunder.

 

     

     

    

 

13CONDEMNATION.
If any part of the Premises, Building or Project is taken for any public or quasi-public use by power of eminent domain or by private
purchase in lieu thereof (a “Taking”) for more than 180 consecutive days,
Landlord may terminate this Lease. If more than 25% of the rentable square footage of the Premises, or any Common Area or portion
of the Base Building necessary for access to or tenantability of the Premises, is Taken for more than 180 consecutive days,
Tenant may terminate this Lease. Any such termination shall be effective as of the date possession must be surrendered to the authority,
and the terminating party shall provide termination notice to the other party within 45 days after receiving written notice
of such surrender date. Except as provided above in this Section 13, neither party may terminate this Lease as a result
of a Taking. Tenant shall not assert, and hereby assigns to Landlord, any claim it may have for compensation because of any Taking;
provided, however, that Tenant may file a separate claim for any Taking of Tenant’s personal property or any trade fixtures
that Tenant is entitled to remove upon the expiration hereof, and for moving expenses, so long as such claim does not diminish
the award available to Landlord or any Security Holder and is payable separately to Tenant. If this Lease is terminated pursuant
to this Section 13, all Rent shall be apportioned as of the date of such termination. If a Taking occurs and this Lease
is not so terminated, Monthly Rent shall be abated for the period of such Taking in proportion to the percentage of the rentable
square footage of the Premises, if any, that is subject to, or rendered inaccessible or untenantable by, such Taking and not occupied
by Tenant.

 

14ASSIGNMENT AND SUBLETTING.

 

14.1Transfers.
Tenant shall not, without Landlord’s prior consent, assign, mortgage, pledge, hypothecate, encumber, permit any lien to attach
to, or otherwise transfer this Lease or any interest hereunder, permit any assignment or other transfer hereof or any interest
hereunder by operation of law, enter into any sublease or license agreement, otherwise permit the occupancy or use of any part
of the Premises by any persons other than Tenant and its employees and contractors, or permit a Change of Control (defined in Section 14.6)
to occur (each, a “Transfer”). If Tenant desires Landlord’s consent
to any Transfer, Tenant shall provide Landlord with (i) notice of the terms of the proposed Transfer, including its proposed
effective date (the “Contemplated Effective Date”), a description of the portion
of the Premises to be transferred (the “Contemplated Transfer Space”), a calculation
of the Transfer Premium (defined in Section 14.3), and a copy of all existing executed and/or proposed documentation
pertaining to the proposed Transfer, and (ii) current financial statements of the proposed transferee (or, in the case of
a Change of Control, of the proposed new controlling party(ies)) certified by an officer or owner thereof and any other information
reasonably required by Landlord in order to evaluate the proposed Transfer (collectively, the “Transfer Notice”).
Within 15 days after receiving the Transfer Notice, Landlord shall notify Tenant of (a) its consent to the proposed Transfer,
(b) its refusal to consent to the proposed Transfer, or (c) its exercise of its rights under Section 14.4.
Any Transfer made without Landlord’s prior consent shall, at Landlord’s option, be void and shall, at Landlord’s
option, constitute a Default. Concurrently with Tenant’s delivery of the Transfer Notice, Tenant shall pay Landlord a fee
of $1,500.00 for Landlord’s review of any proposed Transfer, whether or not Landlord consents to it.

 

14.2Landlord’s
Consent. Subject to Section 14.4, Landlord shall not unreasonably withhold its
consent to any proposed Transfer. Without limiting other reasonable grounds for withholding consent, it shall be deemed reasonable
for Landlord to withhold its consent to a proposed Transfer if:

 

14.2.1The
proposed transferee is not a party of reasonable financial strength in light of the responsibilities to be undertaken in connection
with the Transfer on the date the Transfer Notice is received; or

 

14.2.2The
proposed transferee has a character or reputation or is engaged in a business that is not consistent with the quality of the Building
or the Project; or

 

14.2.3The
proposed transferee is a governmental entity or a nonprofit organization; or

 

14.2.4Intentionally
Omitted; or

 

14.2.5The
proposed transferee, on the date the Transfer Notice is received, leases or occupies (or, at any time during the 6-month period
ending on the date the Transfer Notice is received, has negotiated with Landlord to lease) space in the Project and Landlord has
(or believes in good faith, based on the scheduled expiration dates of existing leases and/or its rights to relocate existing tenants,
that it will have) space available that, in its good faith judgment, will meet the proposed transferee’s leasing needs.

 

14.2.6 The use to be
made of the Contemplated Transfer Space is a use which would be prohibited by any other portion of this Lease or a use which conflicts
with any applicable so-called "exclusive" then in favor of another tenant of the Building or Project.

 

     

     

    

 

Notwithstanding any
contrary provision hereof, (a) if Landlord consents to any Transfer pursuant to this Section 14.2 but Tenant does not
enter into such Transfer within six (6) months thereafter, such consent shall no longer apply and such Transfer shall not
be permitted unless Tenant again obtains Landlord’s consent thereto pursuant and subject to the terms of this Section 14;
and (b) if Landlord withholds its consent in breach of this Section 14.2, Tenant’s sole remedies shall be
contract damages (subject to Section 20) or specific performance, and Tenant waives all other remedies, including any
right to terminate this Lease.

 

14.3Transfer
Premium. If Landlord consents to a Transfer (other than a Change of Control), Tenant shall
pay Landlord an amount equal to 50% of any Transfer Premium (defined below). As used herein, “Transfer Premium”
means (a) in the case of an assignment, any consideration (including payment for Leasehold Improvements) paid by the assignee for
such assignment, less any reasonable and customary expenses directly incurred by Tenant on account of such assignment, including
brokerage fees, legal fees, and Landlord’s review fee, and (b) in the case of a sublease, license or other occupancy agreement,
for each month of the term of such agreement, the amount by which all rent and other consideration paid by the transferee to Tenant
pursuant to such agreement (less all reasonable and customary expenses directly incurred by Tenant on account of such agreement,
including brokerage fees, legal fees, construction costs and Landlord’s review fee, as amortized on a monthly, straight-line
basis over the term of such agreement) exceeds the Monthly Rent payable by Tenant hereunder with respect to the Contemplated Transfer
Space. Payment of Landlord’s share of the Transfer Premium shall be made (x) in the case of an assignment, within 10 days
after Tenant receives the consideration described above, and (y) in the case of a sublease, license or other occupancy agreement,
for each month of the term of such agreement, within five (5) business days after Tenant receives the rent and other consideration
described above.

 

14.4Landlord’s
Right to Recapture. Notwithstanding any contrary provision hereof, except in the case of
a Permitted Transfer (defined in Section 14.8), Landlord, by notifying Tenant within 15 days after receiving the
Transfer Notice, may terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date.
If the Contemplated Transfer Space is less than the entire Premises, then Base Rent, Tenant’s Share, and the number of parking
spaces to which Tenant is entitled under Section 1.9 shall be deemed adjusted on the basis of the percentage of the
rentable square footage of the portion of the Premises retained by Tenant. Upon request of either party, the parties shall execute
a written agreement prepared by Landlord memorializing such termination.

 

14.5Effect
of Consent. If Landlord consents to a Transfer, (i) such consent shall not be deemed
a consent to any further Transfer, (ii) Tenant shall deliver to Landlord, promptly after execution, an executed copy of all
documentation pertaining to the Transfer in form reasonably acceptable to Landlord, and (iii) Tenant shall deliver to Landlord,
upon Landlord’s request, a complete statement, certified by an independent CPA or Tenant’s chief financial officer,
setting forth in detail the computation of any Transfer Premium. In the case of an assignment, the assignee shall assume in writing,
for Landlord’s benefit, all of Tenant’s obligations hereunder. No Transfer, with or without Landlord’s consent,
shall relieve Tenant or any guarantor hereof from any liability hereunder. Notwithstanding any contrary provision hereof, Tenant,
with or without Landlord’s consent, shall not enter into, or permit any party claiming by, through or under Tenant to enter
into, any sublease, license or other occupancy agreement that provides for payment based in whole or in part on the net income
or profit of the subtenant, licensee or other occupant thereunder.

 

14.6Change
of Control. As used herein, “Change of Control”
means (a) if Tenant is a closely held professional service firm, the withdrawal or change (whether voluntary, involuntary
or by operation of law) of more than 25% of its equity owners within a 12-month period; and (b) in all other cases, any
transaction(s) resulting in the acquisition of a Controlling Interest (defined below) in Tenant by one or more parties that neither
owned, nor are Affiliates (defined below) of one or more parties that owned, a Controlling Interest in Tenant immediately before
such transaction(s). As used herein, “Controlling Interest” means control
over an entity, other than control arising from the ownership of voting securities listed on a recognized securities exchange.
As used herein, “control” means the direct or indirect power to direct the
ordinary management and policies of an entity, whether through the ownership of voting securities, by contract or otherwise. As
used herein, “Affiliate” means, with respect to any party, a person or entity
that controls, is under common control with, or is controlled by such party.

 

14.7Effect
of Default. If Tenant is in Default, Landlord is irrevocably authorized, as Tenant’s
agent and attorney-in-fact, to direct any transferee under any sublease, license or other occupancy agreement to make all payments
under such agreement directly to Landlord (which Landlord shall apply towards Tenant’s obligations hereunder) until such
Default is cured. Such transferee shall rely upon any representation by Landlord that Tenant is in Default, whether or not confirmed
by Tenant.

 

14.8Permitted
Transfers. Notwithstanding any contrary provision hereof, if Tenant is not in Default, Tenant
may, without Landlord’s consent pursuant to Section 14.1, permit a Change of Control to occur or assign this
Lease to (a) an Affiliate of Tenant (other than pursuant to a merger or consolidation), (b) a successor to Tenant by
merger or consolidation, or (c) a successor to Tenant by purchase of all or substantially all of Tenant’s assets (a
“Permitted Transfer”), provided that (i) at least 10 business days
before the Transfer (provided that if such pre-Transfer notice and delivery are prohibited by a confidentiality agreement or by
Law, then within 10 business days after the Transfer), Tenant notifies Landlord of the Transfer and delivers to Landlord any documents
or information reasonably requested by Landlord relating thereto, including reasonable documentation that the Transfer satisfies
the requirements of this Section 14.8; (ii) in the case of an assignment pursuant to clause (a) or (c) above,
the assignee executes and delivers to Landlord, at least 10 business days before the assignment (provided that if such pre-assignment
execution and delivery are prohibited by a confidentiality agreement or by Law, then within 10 business days after the assignment),
a commercially reasonable instrument pursuant to which the assignee assumes, for Landlord’s benefit, all of Tenant’s
obligations hereunder; (iii) in the case of an assignment pursuant to clause (b) above, (A) the successor entity
has a net worth (as determined in accordance with GAAP, but excluding intellectual property and any other intangible assets (“Net
Worth”)) immediately after the Transfer that is not less than Tenant’s Net Worth
immediately before the Transfer, and (B) if Tenant is a closely held professional service firm, at least 75% of its equity
owners existing 12 months before the Transfer are also equity owners of the successor entity; (iv) except in the case of a
Change of Control, the transferee is qualified to conduct business in the State of California; (v) in the case of a Change of Control,
(A) Tenant is not a closely held professional service firm and (B) Tenant’s Net Worth immediately after the Change of Control
is not less than its Net Worth immediately before the Change of Control; and (vi) the Transfer is made for a good faith operating
business purpose and not in order to evade the requirements of this Section 14.

 

     

     

    

 

15SURRENDER.
Upon the expiration or earlier termination hereof, and subject to Sections 8 and 11 and this Section 15,
Tenant shall surrender possession of the Premises to Landlord in as good condition and repair as existed when Tenant took possession
and as thereafter improved, except for reasonable wear and tear and repairs that are Landlord’s express responsibility hereunder.
Before such expiration or termination, Tenant, without expense to Landlord, shall (a) remove from the Premises all debris
and rubbish and all furniture, equipment, trade fixtures, Lines, free-standing cabinet work, movable partitions and other articles
of personal property that are owned or placed in the Premises by Tenant or any party claiming by, through or under Tenant (except
for any Lines not required to be removed under Section 23), and (b) repair all damage to the Premises and Building
resulting from such removal. If Tenant fails to timely perform such removal and repair, Landlord may do so at Tenant’s expense
(including storage costs). If Tenant fails to remove such property from the Premises, or from storage, within 30 days after
notice from Landlord, any part of such property shall be deemed, at Landlord’s option, either (x) conveyed to Landlord
without compensation, or (y) abandoned.

 

16HOLDOVER.
If Tenant fails to surrender the Premises upon the expiration or earlier termination hereof, Tenant’s tenancy shall be subject
to the terms and conditions hereof; provided, however, that such tenancy shall be a tenancy at sufferance only, for the entire
Premises, and Tenant shall pay Monthly Rent (on a per-month basis without reduction for any partial month) at a rate equal to 150%
of the Monthly Rent applicable during the last calendar month of the Term. Nothing in this Section 16 shall limit Landlord’s
rights or remedies or be deemed a consent to any holdover. If Landlord is unable to deliver possession of the Premises to, or perform
improvements for, a new tenant as a result of Tenant’s holdover, Tenant shall be liable for all resulting damages, including
lost profits, incurred by Landlord.

 

17SUBORDINATION; ESTOPPEL CERTIFICATES;
FINANCIALS. This Lease shall be subject and subordinate to all existing and future ground or
underlying leases, mortgages, trust deeds and other encumbrances against the Building or Project, all renewals, extensions, modifications,
consolidations and replacements thereof (each, a “Security Agreement”), and
all advances made upon the security of such mortgages or trust deeds, unless in each case the holder of such Security Agreement
(each, a “Security Holder”) requires in writing that this Lease be superior
thereto. Upon any termination or foreclosure (or any delivery of a deed in lieu of foreclosure) of any Security Agreement, Tenant,
upon request, shall attorn, without deduction or set-off, to the Security Holder or purchaser or any successor thereto and shall
recognize such party as the lessor hereunder provided that such party agrees not to disturb Tenant’s occupancy so long as
Tenant timely pays the Rent and otherwise performs its obligations hereunder. Within 20 business days after Landlord’s
request, Tenant shall execute such further instruments as Landlord may reasonably deem necessary to evidence the subordination
or superiority of this Lease to any Security Agreement. Tenant waives any right it may have under Law to terminate or otherwise
adversely affect this Lease or Tenant’s obligations hereunder upon a foreclosure. Within 20 business days after Landlord’s
request, Tenant shall execute and deliver to Landlord a commercially reasonable estoppel certificate in favor of such parties as
Landlord may reasonably designate, including current and prospective Security Holders and prospective purchasers.

 

18ENTRY BY LANDLORD.
At all reasonable times and upon reasonable notice to Tenant, or in an emergency, Landlord may enter the Premises to (i) inspect
the Premises; (ii) show the Premises to prospective purchasers, current or prospective Security Holders or insurers, or, during
the last 12 months of the Term (or while an uncured Default exists), prospective tenants; (iii) post notices of non-responsibility;
or (iv) perform maintenance, repairs or alterations. At any time and without notice to Tenant, Landlord may enter the Premises
to perform required services. If reasonably necessary, Landlord may temporarily close any portion of the Premises to perform maintenance,
repairs or alterations. In an emergency, Landlord may use any means it deems proper to open doors to and in the Premises. No entry
into or closure of any portion of the Premises pursuant to this Section 18 shall render Landlord liable to Tenant,
constitute a constructive eviction, or excuse Tenant from any obligation hereunder.

 

     

     

    

 

19DEFAULTS; REMEDIES.

 

19.1Events
of Default. The occurrence of any of the following shall constitute a “Default”:

 

19.1.1Any
failure by Tenant to pay any Rent (or deliver any Security Deposit, Letter of Credit, or similar credit enhancement required hereunder)
when due unless such failure is cured within five (5) business days after notice; or

 

19.1.2Except
where a specific time period is otherwise set forth for Tenant’s cure herein (in which event Tenant’s failure to cure
within such time period shall be a Default), and except as otherwise provided in this Section 19.1, any breach by Tenant
of any other provision hereof where such breach continues for 30 days after notice from Landlord; provided that if such breach
cannot reasonably be cured within such 30-day period, Tenant shall not be in Default as a result of such breach if Tenant diligently
commences such cure within such period, thereafter diligently pursues such cure, and completes such cure within 60 days after
Landlord’s notice; or

 

19.1.3Intentionally
omitted; or

 

19.1.4Any
breach by Tenant of Section 17 or 18 where such breach continues for more than five (5) business days after
notice from Landlord; or

 

19.1.5Tenant
becomes in breach of Section 25.3(c) or (d).

 

If Tenant breaches
a particular provision hereof (other than a provision requiring payment of Rent) on three (3) separate occasions during any
12-month period, Tenant’s subsequent breach of such provision shall be, at Landlord’s option, an incurable Default.
The notice periods provided herein are in lieu of, and not in addition to, any notice periods provided by Law, and Landlord shall
not be required to give any additional notice in order to be entitled to commence an unlawful detainer proceeding.

 

19.2Remedies
Upon Default. Upon any Default, Landlord shall have, in addition to any other remedies available
to Landlord at law or in equity (which shall be cumulative and nonexclusive), the option to pursue any one or more of the following
remedies (which shall be cumulative and nonexclusive) without any additional notice or demand:

 

19.2.1Landlord
may terminate this Lease, in which event Landlord may recover from Tenant the following:

 

(a)The worth at
the time of award of the unpaid Rent which had been earned at the time of such termination; plus

 

(b)The worth at
the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of award
exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus

 

(c)The worth at
the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount
of such Rent loss that Tenant proves could be reasonably avoided; plus

 

(d)Any other amount
necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations
hereunder or which in the ordinary course of things would be likely to result therefrom, including brokerage commissions, advertising
expenses, expenses of remodeling any portion of the Premises for a new tenant (whether for the same or a different use), and any
special concessions made to obtain a new tenant; plus

 

(e)At Landlord’s
option, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by Law.

 

As used in Sections 19.2.1(a)
and (b), the “worth at the time of award” shall be computed by allowing interest at the rate specified
in Section 3(b) above. As used in Section 19.2.1(c), the “worth at the time of award” shall
be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus
1%.

 

19.2.2Landlord
shall have the remedy described in California Civil Code § 1951.4 (lessor may continue lease in effect after lessee’s
breach and abandonment and recover Rent as it becomes due, if lessee has the right to sublet or assign, subject only to reasonable
limitations). Accordingly, if Landlord does not elect to terminate this Lease on account of any default by Tenant, Landlord may,
from time to time, without terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover
all Rent as it becomes due.

 

     

     

    

 

19.2.3Landlord
shall at all times have the rights and remedies (which shall be cumulative with each other and cumulative and in addition to those
rights and remedies available under Sections 19.2.1 and 19.2.2, or any Law or other provision hereof), without
prior demand or notice except as required by Law, to seek any declaratory, injunctive or other equitable relief, and specifically
enforce this Lease, or restrain or enjoin a violation or breach of any provision hereof.

 

19.3Efforts
to Relet. Unless Landlord provides Tenant with express notice to the contrary, no re-entry,
repair, maintenance, change, alteration, addition, reletting, appointment of a receiver or other action or omission by Landlord
shall (a) be construed as an election by Landlord to terminate this Lease or Tenant’s right to possession, or to accept
a surrender of the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Tenant waives, for Tenant
and for all those claiming by, through or under Tenant, California Civil Code § 3275, California Code of Civil Procedure
§§ 1174(c) and 1179, and any existing or future rights to redeem or reinstate, by order or judgment of any court
or by any legal process or writ, this Lease or Tenant’s right of occupancy of the Premises after any termination hereof.

 

19.4Landlord
Default. Landlord shall not be in default hereunder unless it fails to begin within 30 days
after notice from Tenant, or fails to pursue with reasonable diligence thereafter, the cure of any breach by Landlord of its obligations
hereunder. Before exercising any remedies for a default by Landlord, Tenant shall give notice and a reasonable time to cure to
any Security Holder of which Tenant has been notified.

 

20LANDLORD EXCULPATION.
Notwithstanding any contrary provision hereof, (a) the liability of the Landlord Parties to Tenant shall be limited to an
amount equal to Landlord’s interest in the Building; (b) Tenant shall look solely to Landlord’s interest in the
Building for the recovery of any judgment or award against any Landlord Party; (c) no Landlord Party (other than Landlord)
shall have any liability for any judgment or deficiency, and Tenant waives and releases such liability on behalf of itself and
all parties claiming by, through or under Tenant; and (d) no Landlord Party shall be liable for any injury or damage to, or
interference with, Tenant’s business, including loss of profits, loss of rents or other revenues, loss of business opportunity,
loss of goodwill or loss of use, or for any form of special or consequential damage.

 

21SECURITY DEPOSIT.
Concurrently with its execution and delivery hereof, Tenant shall deposit with Landlord the Security Deposit, if any, as security
for Tenant’s performance of its obligations hereunder. If Tenant breaches any provision hereof and either (i) such breach
continues beyond any applicable notice and cure period, or (ii) this Lease expires or terminates, Landlord may, at its option,
without limiting its remedies and without notice to Tenant, apply all or part of the Security Deposit to cure such breach and compensate
Landlord for any loss or damage caused by such breach, including any damage for which recovery may be made under California Civil
Code § 1951.2. If Landlord so applies any portion of the Security Deposit, Tenant, within three (3) days after demand
therefor, shall restore the Security Deposit to its original amount. The Security Deposit is not an advance payment of Rent or
measure of damages. Any unapplied portion of the Security Deposit shall be returned to Tenant within 30 days after the latest
to occur of (a) the expiration of the Term, (b) Tenant’s surrender of the Premises as required hereunder, or (c) Landlord’s
cure of any breach by Tenant of any provision hereof; provided, however, that if Landlord estimates in good faith that Tenant may
be required to make a payment to Landlord under Section 4.4.1, Landlord may retain such unapplied portion of the Security
Deposit, to the extent of the estimated amount of such payment, until the date occurring 30 days after determination of the final
Rent due from Tenant. Landlord shall not be required to keep the Security Deposit separate from its other accounts.

 

22RELOCATION.
Landlord, after giving no less than 90 days prior written notice (and with an effective date no earlier than the one year anniversary
of the Commencement Date), may move Tenant to other space in the Project comparable in size, configuration and utility to the Premises.
In such event, all terms hereof shall apply to the new space, except that Base Rent and (except to the extent of the percentage,
if any, by which the rentable square footage of the building in which the new space is located is less than the rentable square
footage of the Building) Tenant’s Share shall not increase as a result of such relocation. Landlord, at its expense, shall
provide Tenant with tenant improvements and Units (and meters associated therewith) in the new space at least equal in quality
to those in the Premises. Landlord shall reimburse Tenant for Tenant’s reasonable moving, re-cabling (including, without
limitation, replacement or reinstallation of Lines), and stationery-replacement costs. The parties shall execute a written agreement
prepared by Landlord memorializing the relocation. 

 

23COMMUNICATIONS AND COMPUTER
LINES. All Lines installed pursuant to this Lease shall be (a) installed in accordance with
Section 7; and (b) clearly marked with adhesive plastic labels (or plastic tags attached to such Lines with wire)
to show Tenant’s name, suite number, and the purpose of such Lines (i) every six (6) feet outside the Premises
(including the electrical room risers and any Common Areas), and (ii) at their termination points. Landlord may designate
specific contractors for work relating to vertical Lines. Sufficient spare cables and space for additional cables shall be maintained
for other occupants, as reasonably determined by Landlord. Unless otherwise notified by Landlord, Tenant, at its expense and before
the expiration or earlier termination hereof, shall remove all Lines and repair any resulting damage. As used herein, “Lines”
means all communications or computer wires and cables serving the Premises, installed by or for the benefit of (or paid for by)
Tenant. 

 

     

     

    

 

24PARKING.
Tenant may park in the Building’s parking facilities (the “Parking Facility”),
in common with other tenants of the Building, upon the following terms and conditions. Tenant shall not use more than the number
of unreserved and/or reserved parking spaces set forth in Section 1.9. Tenant shall comply with all rules and regulations
established by Landlord from time to time for the orderly operation and use of the Parking Facility, including any sticker or other
identification system and the prohibition of vehicle repair and maintenance activities in the Parking Facility. Landlord may, in
its discretion, allocate and assign parking passes among Tenant and the other tenants in the Building. Tenant’s use of the
Parking Facility shall be at Tenant’s sole risk, and Landlord shall have no liability for any personal injury or damage to
or theft of any vehicles or other property occurring in the Parking Facility or otherwise in connection with any use of the Parking
Facility by Tenant or its employees or invitees. Landlord may alter the size, configuration, design, layout or any other aspect
of the Parking Facility without abatement of Rent or liability to Tenant provided that such alteration does not materially impair
Tenant’s rights under this Section 24. In addition, for purposes of facilitating any such alteration, Landlord may
temporarily deny or restrict access to the Parking Facility, without abatement of Rent or liability to Tenant, provided that Landlord
uses commercially reasonable efforts to make reasonable substitute parking available to Tenant. Landlord may delegate its responsibilities
hereunder to a parking operator, in which case (i) such parking operator shall have all the rights of control reserved herein
by Landlord, (ii) Tenant shall enter into a parking agreement with such parking operator, and (iii) Landlord shall have no liability
for claims arising through acts or omissions of such parking operator except to the extent caused by Landlord’s gross negligence
or willful misconduct. Tenant’s parking rights under this Section 24 are solely for the benefit of Tenant’s
employees and invitees and such rights may not be transferred without Landlord’s prior consent, except pursuant to a Transfer
permitted under Section 14.

 

25MISCELLANEOUS.

 

25.1Notices.
Other than a request made pursuant to Landlord’s HVAC Request Procedure, no notice, demand, statement, designation, request,
consent, approval, election or other communication given hereunder (“Notice”)
shall be binding upon either party unless (a) it is in writing; (b) it is (i) sent by certified or registered mail,
postage prepaid, return receipt requested, (ii) delivered by a nationally recognized courier service, or (iii) delivered
personally; and (c) it is sent or delivered to the address set forth in Section 1.10 or 1.11, as applicable,
or to such other place (other than a P.O. box) as the recipient may from time to time designate in a Notice to the other party.
Any Notice shall be deemed received on the earlier of the date of actual delivery or the date on which delivery is refused, or,
if Tenant is the recipient and has vacated its notice address without providing a new notice address, three (3) days after
the date the Notice is deposited in the U.S. mail or with a courier service as described above. No provision of this Lease requiring
a particular Notice to be in writing shall limit the generality of clause (a) of the first sentence of this Section 25.1.

 

25.2Force
Majeure. If either party is prevented from performing any obligation hereunder by any strike,
act of God, fire, war, terrorist act, shortage of labor or materials, governmental action (including, without limitation, governmentally
required evacuations), civil commotion or other cause beyond such party’s reasonable control (“Force Majeure”),
such obligation shall be excused during (and any time period for the performance of such obligation shall be extended by) the period
of such prevention; provided, however, that this Section 25.2 shall not (a) permit Tenant to hold over in the
Premises after the expiration or earlier termination hereof, or (b) excuse (or extend any time period for the performance
of) (i) any obligation to remit money or deliver credit enhancement, (ii) any obligation under Section 10
or 25.3, or (iii) any of Tenant’s obligations whose breach would interfere with another occupant’s use,
occupancy or enjoyment of its premises or the Project or result in any liability on the part of any Landlord Party.

 

25.3Representations
and Covenants. Tenant represents, warrants and covenants that (a) Tenant is, and at
all times during the Term will remain, duly organized, validly existing and in good standing under the Laws of the state of its
formation and qualified to do business in the state of California; (b) neither Tenant’s execution of nor its performance
under this Lease will cause Tenant to be in violation of any agreement or Law; (c) Tenant (and any guarantor hereof) has not,
and at no time during the Term will have, (i) made a general assignment for the benefit of creditors, (ii) filed a voluntary
petition in bankruptcy, (iii) suffered (A) the filing by creditors of an involuntary petition in bankruptcy that is not
dismissed within 30 days, (B) the appointment of a receiver to take possession of all or substantially all of its assets,
or (C) the attachment or other judicial seizure of all or substantially all of its assets, (iv) admitted in writing its
inability to pay its debts as they come due, or (v) made an offer of settlement, extension or composition to its creditors
generally; and (d) no party that (other than through the passive ownership of interests traded on a recognized securities
exchange) constitutes, owns, controls, or is owned or controlled by Tenant, any guarantor hereof or any subtenant of Tenant is,
or at any time during the Term will be, (i) in violation of any Laws relating to terrorism or money laundering, or (ii) among
the parties identified on any list compiled pursuant to Executive Order 13224 for the purpose of identifying suspected terrorists
or on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control at its official website,
http://www.treas.gov/ofac/tllsdn.pdf or any replacement website or other replacement official publication of such list.

 

     

     

    

 

25.4Signs.
Landlord shall include Tenant’s name in any tenant directory located in the lobby on the first floor of the Building. If
any part of the Premises is located on a multi-tenant floor, Landlord, at Tenant’s cost, shall provide identifying suite
signage for Tenant comparable to that provided by Landlord on similar floors in the Building. Tenant may not install (a) any
signs outside the Premises, or (b) without Landlord’s prior consent in its sole and absolute discretion, any signs,
window coverings, blinds or similar items that are visible from outside the Premises.

 

25.5Supplemental
HVAC. If the Premises are served by any supplemental HVAC unit (a “Unit”),
then (a) Tenant shall pay the costs of all electricity consumed in the Unit’s operation, together with the cost of installing
a meter to measure such consumption; (b) Tenant, at its expense, shall (i) operate and maintain the Unit in compliance
with all applicable Laws and such reasonable rules and procedures as Landlord may impose; (ii) keep the Unit in as good working
order and condition as existed upon installation (or, if later, when Tenant took possession of the Premises), subject to normal
wear and tear and damage resulting from Casualty; (iii) maintain in effect, with a contractor reasonably approved by Landlord,
a contract for the maintenance and repair of the Unit, which contract shall require the contractor, at least once every six (6)
months, to inspect the Unit and provide to Tenant a report of any defective conditions, together with any recommendations for maintenance,
repair or parts-replacement; (iv) follow all reasonable recommendations of such contractor; and (v) promptly provide
to Landlord a copy of such contract and each report issued thereunder; (c) the Unit shall become Landlord’s property
upon installation and without compensation to Tenant; (d) the Unit shall be deemed (i) a Leasehold Improvement (except
for purposes of Section 8), and (ii) for purposes of Section 11, part of the Premises; (e) if
the Unit exists on the date of mutual execution and delivery hereof, Tenant accepts the Unit in its “as is” condition,
without representation or warranty as to quality, condition, fitness for use or any other matter; (f) if the Unit connects
to the Building’s condenser water loop (if any), then Tenant shall pay to Landlord, as Additional Rent, Landlord’s
standard one-time fee for such connection and Landlord’s standard monthly per-ton usage fee; and (g) if any portion
of the Unit is located on the roof, then (i) Tenant’s access to the roof shall be subject to such reasonable rules and
procedures as Landlord may impose; (ii) Tenant shall maintain the affected portion of the roof in a clean and orderly condition
and shall not interfere with use of the roof by Landlord or any other tenants or licensees; and (iii) Landlord may relocate
the Unit and/or temporarily interrupt its operation, without liability to Tenant, as reasonably necessary to maintain and repair
the roof or otherwise operate the Building.

 

25.6Attorneys’
Fees. In any action or proceeding between the parties, including any appellate or alternative
dispute resolution proceeding, the prevailing party may recover from the other party all of its costs and expenses in connection
therewith, including reasonable attorneys’ fees and costs. Tenant shall pay all reasonable attorneys’ fees and other
fees and costs that Landlord incurs in interpreting or enforcing this Lease or otherwise protecting its rights hereunder (a) where
Tenant has failed to pay Rent when due, or (b) in any bankruptcy case, assignment for the benefit of creditors, or other insolvency,
liquidation or reorganization proceeding involving Tenant or this Lease.

 

25.7Brokers.
Tenant represents to Landlord that it has dealt only with Tenant’s Broker as its broker in connection with this Lease. Tenant
shall indemnify, defend, and hold Landlord harmless from all claims of any brokers, other than Tenant’s Broker, claiming
to have represented Tenant in connection with this Lease. Landlord shall indemnify, defend and hold Tenant harmless from all claims
of any brokers, including Landlord’s Broker, claiming to have represented Landlord in connection with this Lease. Landlord
shall pay a brokerage commission to Tenant’s Broker subject to the terms of a separate written agreement to be entered into
between Landlord and Tenant’s Broker.

 

25.8Governing
Law; WAIVER OF TRIAL BY JURY. This Lease shall be construed and enforced in accordance with
the Laws of the State of California. THE PARTIES WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY
LITIGATION ARISING OUT OF OR RELATING TO THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, TENANT’S USE OR OCCUPANCY OF
THE PREMISES, AND/OR ANY CLAIM FOR INJURY OR DAMAGE OR ANY EMERGENCY OR STATUTORY REMEDY.

 

25.9Waiver
of Statutory Provisions. Each party waives California Civil Code §§ 1932(2),
1933(4) and 1945. Tenant waives (a) any rights under (i) California Civil Code §§ 1932(1), 1941,
1942, 1950.7 or any similar or replacement section or Law, or (ii) California Code of Civil Procedure §§ 1263.260
or 1265.130 or any similar or replacement section or Law; and (b) any right to terminate this Lease under California Civil
Code § 1995.310 or any similar or replacement section or Law.

 

25.10Interpretation.
As used herein, the capitalized term “Section” refers to a section hereof unless otherwise specifically provided herein.
As used in this Lease, the terms “herein,” “hereof,” “hereto” and “hereunder” refer
to this Lease and the term “include” and its derivatives are not limiting. Any reference herein to “any part”
or “any portion” of the Premises, the Property or any other property shall be construed to refer to all or any part
of such property. As used herein in connection with insurance, the term “deductible” includes self-insured retention.
Wherever this Lease prohibits either party from engaging in any particular conduct, this Lease shall be deemed also to require
such party to cause each of its employees and agents (and, in the case of Tenant, each of its licensees, invitees and subtenants,
and any other party claiming by, through or under Tenant) to refrain from engaging in such conduct. Wherever this Lease requires
Landlord to provide a customary service or to act in a reasonable manner (whether in incurring an expense, establishing a rule
or regulation, providing an approval or consent, or performing any other act), this Lease shall be deemed also to provide that
whether such service is customary or such conduct is reasonable shall be determined by reference to the practices of owners of
buildings (“Comparable Buildings”) that (i) are comparable to the Building
in size, age, class, quality and location, and (ii) at Landlord’s option, have been, or are being prepared to be, certified
under the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) rating system or a similar
rating system. Tenant waives the benefit of any rule that a written agreement shall be construed against the drafting party.

 

     

     

    

 

25.11Entire
Agreement. This Lease sets forth the entire agreement between the parties relating to the
subject matter hereof and supersedes any previous agreements (none of which shall be used to interpret this Lease). Tenant acknowledges
that in entering into this Lease it has not relied upon any representation, warranty or statement, whether oral or written, not
expressly set forth herein. This Lease can be modified only by a written agreement signed by both parties.

 

25.12Other.
Landlord, at its option, may cure any Default, without waiving any right or remedy or releasing Tenant from any obligation, in
which event Tenant shall pay Landlord, upon demand, the cost of such cure. If any provision hereof is void or unenforceable, no
other provision shall be affected. Submission of this instrument for examination or signature by Tenant does not constitute an
option or offer to lease, and this instrument is not binding until it has been executed and delivered by both parties. The voluntary
or other surrender of this Lease by Tenant, whether accepted by Landlord or not, or a mutual termination thereof, shall not work
a merger, and at the option of Landlord shall operate as an assignment to Landlord of all subleases or subtenancies affecting the
Premises or terminate any or all such sublessees or subtenancies. If Tenant is comprised of two or more parties, their obligations
shall be joint and several. Time is of the essence with respect to the performance of every provision hereof in which time of performance
is a factor. So long as Tenant performs its obligations hereunder, Tenant shall have peaceful and quiet possession of the Premises
against any party claiming by, through or under Landlord, subject to the terms hereof. Landlord may transfer its interest herein,
in which event (a) to the extent the transferee assumes in writing Landlord’s obligations arising hereunder after the
date of such transfer (including the return of any Security Deposit), Landlord shall be released from, and Tenant shall look solely
to the transferee for the performance of, such obligations; and (b) Tenant shall attorn to the transferee. If Tenant (or any
party claiming by, through or under Tenant) pays directly to the provider for any energy consumed at the Property, Tenant, promptly
upon request, shall deliver to Landlord (or, at Landlord’s option, execute and deliver to Landlord an instrument enabling
Landlord to obtain from such provider) any data about such consumption that Landlord, in its reasonable judgment, is required to
disclose to a prospective buyer, tenant or Security Holder under California Public Resources Code § 25402.10 or
any similar Law. Landlord reserves all rights not expressly granted to Tenant hereunder, including the right to make alterations
to the Project. No rights to any view or to light or air over any property are granted to Tenant hereunder. The expiration or earlier
termination hereof shall not relieve either party of any obligation that accrued before, or continues to accrue after, such expiration
or termination. This Lease may be executed in counterparts.

 

[SIGNATURES ARE ON THE FOLLOWING PAGE]

 

     

     

    

 

 

IN WITNESS WHEREOF,
Landlord and Tenant have caused this Lease to be executed the day and date first above written.

 

	 	LANDLORD:
	 	 	 	 	 	 
	 	Hudson Skyway Landing, LLC,
	 	a Delaware limited liability company
	 	 	 	 	 	 
	 	By: 	Hudson Pacific Properties, L.P.,
	 	 	a Maryland limited partnership,
	 	 	its sole member
	 	 	 	 	 	 
	 	 	By: 	Hudson Pacific Properties, Inc.,
	 	 	 	a Maryland corporation,
	 	 	 	its general partner
	 	 	 	 	 	 
	 	 	 	By: 	/s/ Arthur X. Suazo
	 	 	 	 	Name: 	Arthur X. Suazo
	 	 	 	 	Title:	Executive Vice-President,
	 	 	 	 	 	Leasing
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	TENANT:
	 	 	 	 	 	 
	 	Lion Biotechnologies, Inc.,
	 	a Nevada corporation
	 	 	 	 	 	 
	 	By:	/s/ Maria Fardis
	 	 	Name: 	Maria Fardis
	 	 	Title:	Chief Executive Officer

  

     

     

    

 

EXHIBIT A

 

SKYWAY LANDING II

  

OUTLINE OF PREMISES

 

See Attached

 

This Exhibit "A" is provided
for informational purposes only and is intended to be only an approximation of the layout of the Premises and shall not be deemed
to constitute any representation by Landlord as to the exact layout or configuration of the Premises.

 

 

     

     

    

 

EXHIBIT B

 

SKYWAY LANDING II

 

WORK LETTER

 

As used in this Exhibit B
(this “Work Letter”), the following terms shall have the following meanings:

 

		(i)	“Tenant Improvements” means all improvements to be constructed in the Premises
pursuant to this Work Letter;

 

		(ii)	“Tenant Improvement Work” means the construction of the Tenant Improvements,
together with any related work (including demolition) that is necessary to construct the Tenant Improvements;

 

		(iii)	“law” means Law; and

 

		(iv)	“Agreement” means the lease of which this Work Letter is a part.

 

1COST OF TENANT IMPROVEMENT WORK.
Except as provided in Sections 2.7.4 and 3.2.2.B below, the Tenant Improvement Work shall be performed at Landlord’s
expense.

 

		2	ARCHITECTURAL PLANS.

 

2.1Selection
of Architect. Landlord shall retain the architect/space planner of Landlord’s choice (the “Architect”)
to prepare the Architectural Drawings (defined in Section 2.5 below).

 

2.2[Intentionally
Omitted.]

 

2.3Approved
Space Plan. Landlord and Tenant acknowledge that they have approved the space plan for the Premises dated June 10, 2016
prepared by ID/Architecture (as amended June 14, 2016, June 17, 2016 and July 20, 2016, the “Approved Space Plan”).
All materials and finishes contemplated by the Approved Space Plan shall be deemed to be Building-standard unless otherwise expressly
provided therein.

 

2.4Additional
Programming Information. Tenant shall deliver to Landlord, in writing, all information (including all interior and special
finishes) that, when combined with the Approved Space Plan, will be sufficient to complete the Architectural Drawings, together
with all information (including all electrical requirements, telephone requirements, special HVAC requirements, and plumbing requirements)
that, when combined with the Approved Space Plan, will be sufficient to complete the Engineering Drawings (defined in Section 3.2.1
below) (collectively, the “Additional Programming Information”). The Additional Programming Information shall
not increase the cost of the Tenant Improvement Work (as reasonably estimated by Landlord) and shall be (a) consistent with
the Approved Space Plan, (b) consistent with Landlord’s requirements for avoiding aesthetic, engineering or other conflicts
with the design and function of the balance of the Building (collectively, the “Landlord Requirements”), and
(c) otherwise subject to Landlord’s reasonable approval. Landlord shall provide Tenant with notice approving or reasonably
disapproving the Additional Programming Information within five (5) business days after the later of Landlord’s
receipt thereof or the mutual execution and delivery of this Agreement. If Landlord disapproves the Additional Programming Information,
Landlord’s notice of disapproval shall describe with reasonable specificity the basis for such disapproval and Tenant shall
modify the Additional Programming Information and resubmit it for Landlord’s approval. Such procedure shall be repeated as
necessary until Landlord has approved the Additional Programming Information. Such approved Additional Programming Information
shall be referred to herein as the “Approved Additional Programming Information.” If requested by Tenant, Landlord,
in its sole and absolute discretion, may assist Tenant, or cause the Architect and/or other contractors or consultants of Landlord
to assist Tenant, in preparing all or a portion of the Additional Programming Information; provided, however, that, whether or
not the Additional Programming Information is prepared with such assistance, Tenant shall be solely responsible for the timely
preparation and delivery of the Additional Programming Information and for all elements thereof. Landlord and Tenant acknowledge
that, as of the date of mutual execution and delivery of this Agreement, Tenant has previously delivered to Landlord, and Landlord
has approved, the Additional Programming Information, as required under this Section 2.4.

 

2.5Architectural
Drawings. After approving the Additional Programming Information, Landlord shall cause the Architect to prepare and deliver
to Tenant the final architectural (and, if applicable, structural) working drawings for the Tenant Improvement Work that are in
a form that (a) when combined with any Approved Additional Programming Information that is not expressly incorporated into
such working drawings, will be sufficient to enable the Contractor (defined in Section 3.1 below) and its subcontractors
to bid on the Tenant Improvement Work, and (b) when combined with any Engineering Drawings that satisfy the Engineering Requirements
(defined in Section 3.2.1 below), will be sufficient to obtain the Permits (defined in Section 3.3 below)
(the “Architectural Drawings”). The Architectural Drawings shall conform to the Approved Space Plan and the
Approved Additional Programming Information. The Architect’s preparation and delivery of the Architectural Drawings shall
occur within 15 business days after the later of Landlord’s approval of the Additional Programming Information or the
mutual execution and delivery of this Agreement. Tenant shall approve or disapprove the Architectural Drawings by notice to Landlord.
If Tenant disapproves the Architectural Drawings, Tenant’s notice of disapproval shall specify any revisions Tenant desires
in the Architectural Drawings. After receiving such notice of disapproval, Landlord shall cause the Architect to revise the Architectural
Drawings and resubmit them to Tenant, taking into account the reasons for Tenant’s disapproval; provided, however, that Landlord
shall not be required to cause the Architect to make any revision to the Architectural Drawings that (a) would increase the
cost of the Tenant Improvement Work (as reasonably estimated by Landlord), (b) conflicts with the Approved Space Plan or the
Landlord Requirements, or (c) is otherwise reasonably disapproved by Landlord. Such revision and resubmission shall occur
within five (5) business days after the later of Landlord’s receipt of Tenant’s notice of disapproval or
the mutual execution and delivery of this Agreement if such revision is not material, and within such longer period of time as
may be reasonably necessary (but not more than 15 business days after the later of such receipt or such mutual execution and
delivery) if such revision is material. Such procedure shall be repeated as necessary until Tenant has approved the Architectural
Drawings. Such approved Architectural Drawings shall be referred to herein as the “Approved Architectural Drawings.”

 

     

     

    

 

2.6[Intentionally
Omitted.]

 

2.7Revisions
to Approved Architectural Drawings, Approved Additional Programming Information, or Approved Space Plan.

 

2.7.1Approved
Architectural Drawings. If Tenant requests any revision to the Approved Architectural Drawings, Landlord shall provide Tenant
with notice approving or reasonably disapproving such revision, and, if Landlord approves such revision, Landlord shall have such
revision made and delivered to Tenant, together with notice of any resulting change in the estimated total cost associated with
the Tenant Improvement Work, within 10 business days after the later of Landlord’s receipt of such request or the mutual
execution and delivery of this Agreement if such revision is not material, and within such longer period of time as may be reasonably
necessary (but not more than 15 business days after the later of such receipt or such execution and delivery) if such revision
is material, whereupon Tenant, within one (1) business day, shall notify Landlord whether it desires to proceed with such
revision. If Landlord has begun performing the Tenant Improvement Work, then, in the absence of such authorization, Landlord shall
have the option to continue such performance disregarding such revision. Landlord shall not revise the Approved Architectural Drawings
without Tenant’s consent, which shall not be unreasonably withheld or conditioned. Tenant shall approve, or reasonably disapprove
(and state, with reasonable specificity, its reasons for disapproving), any revision to the Approved Architectural Drawings within
two (2) business days after receiving Landlord’s request for approval thereof. For purposes hereof, any change order
affecting the Approved Architectural Drawings shall be deemed a revision to the Approved Architectural Drawings.

 

2.7.2Approved
Additional Programming Information. If Tenant requests Landlord’s approval of any revision to the Approved Additional
Programming Information, Landlord shall provide Tenant with notice approving or reasonably disapproving such revision, together
with notice of any resulting change in the estimated total cost associated with the Tenant Improvement Work, within five (5) business
days after the later of Landlord’s receipt of such request or the mutual execution and delivery of this Agreement, whereupon
Tenant, within two (2) business days, shall notify Landlord whether it desires to proceed with such revision. If Landlord has begun
performing the Tenant Improvement Work, then, in the absence of such authorization, Landlord shall have the option to continue
such performance disregarding such revision. Landlord shall not revise the Approved Additional Programming Information without
Tenant’s consent, which shall not be unreasonably withheld or conditioned. Tenant shall approve, or reasonably disapprove
(and state, with reasonable specificity, its reasons for disapproving), any revision to the Approved Additional Programming Information
within two (2) business days after receiving Landlord’s request for approval thereof.

 

2.7.3Approved
Space Plan. If Tenant requests Landlord’s approval of any revision to the Approved Space Plan, Landlord shall provide
Tenant with notice approving or reasonably disapproving such revision, together with notice of any resulting change in the estimated
total cost associated with the Tenant Improvement Work, within five (5) business days after the later of Landlord’s
receipt of such request or the mutual execution and delivery of this Agreement, whereupon Tenant, within two (2) business days,
shall notify Landlord whether it desires to proceed with such revision. If Landlord has begun performing the Tenant Improvement
Work, then, in the absence of such authorization, Landlord shall have the option to continue such performance disregarding such
revision. Landlord shall not revise the Approved Space Plan without Tenant’s consent, which shall not be unreasonably withheld
or conditioned. Tenant shall approve, or reasonably disapprove (and state, with reasonable specificity, its reasons for disapproving),
any revision to the Approved Space Plan within two (2) business days after receiving Landlord’s request for approval
thereof.

 

     

     

    

 

2.7.4Costs
of Revisions. Tenant shall reimburse Landlord, immediately upon demand, for any increase in the total cost associated with
the Tenant Improvement Work that results from any revision to the Approved Architectural Drawings requested by Tenant, any revision
to the Approved Additional Programming Information made by Tenant, or any revision to the Approved Space Plan requested or made
by Tenant, including, in each case, any cost of preparing or reviewing such revision.

 

2.8Tenant’s
Approval Deadline. Tenant shall approve the Architectural Drawings pursuant to Section 2.5 above on or before
Tenant’s Approval Deadline (defined below). As used in this Work Letter, “Tenant’s Approval Deadline”
means the date occurring 30 business days after the mutual execution and delivery of this Agreement; provided, however, that Tenant’s
Approval Deadline shall be extended by one (1) day for each day, if any, by which Tenant’s approval of the Architectural
Drawings pursuant to Section 2.5 above is delayed by any failure of Landlord to perform its obligations under this
Section 2.

 

		3	CONSTRUCTION.

 

3.1Contractor.
Landlord shall retain a contractor of its choice (the “Contractor”) to perform the Tenant Improvement Work.
In addition, Landlord may select and/or approve of any subcontractors, mechanics and materialmen used in connection with the performance
of the Tenant Improvement Work.

 

3.2Engineering
Drawings.

 

3.2.1Preparation.
Landlord shall cause the engineering working drawings for the mechanical, electrical, plumbing, fire-alarm and fire sprinkler work
in the Premises (the “Engineering Drawings”) to (a) be prepared by one or more of the Architect, the Contractor,
and/or engineers or other consultants selected and/or retained by the Architect, the Contractor or Landlord, and (b) conform
to the Approved Space Plan, the Approved Additional Programming Information, the first sentence of Section 4 below,
and any then-existing Approved Architectural Drawings (collectively, the “Engineering Requirements”).

 

3.2.2Design
Build. Except as provided in Section 3.2.3 below:

 

A.Delivery
and Approval. The Engineering Drawings shall be delivered to Tenant within 15 business days after the later of Tenant’s
approval of the Architectural Drawings pursuant to Section 2.5 above or the mutual execution and delivery of this Agreement.
Tenant shall approve, or reasonably disapprove (and state, with reasonable specificity, its reasons for disapproving), the Engineering
Drawings within two (2) business days after the latest of (a) Tenant’s receipt of the Engineering Drawings, (b) Tenant’s
approval of the Architectural Drawings, or (c) the mutual execution and delivery of this Agreement. After receiving any such
notice of reasonable disapproval, Landlord shall cause the Contractor to revise the Engineering Drawings and resubmit them to Tenant,
taking into account the reasons for Tenant’s disapproval; provided, however, that Landlord shall not be required to make
any revision to the Engineering Drawings that conflicts with the Engineering Requirements or the Landlord Requirements or is otherwise
reasonably disapproved by Landlord. Such procedure shall be repeated as necessary until Tenant has reasonably approved the Engineering
Drawings. Such approved Engineering Drawings shall be referred to herein as the “Approved Engineering Drawings”.

 

B.Revisions.
If Tenant requests any revision to the Approved Engineering Drawings, Landlord shall provide Tenant with notice approving or reasonably
disapproving such revision, and, if Landlord approves such revision, Landlord shall have such revision made and delivered to Tenant,
together with notice of any resulting change in the estimated total cost associated with the Tenant Improvement Work, within five (5) business
days after the later of Landlord’s receipt of such request or the mutual execution and delivery of this Agreement if such
revision is not material, and within such longer period of time as may be reasonably necessary (but not more than 10 business
days after the later of such receipt or such execution and delivery) if such revision is material, whereupon Tenant, within one (1)
business day, shall notify Landlord whether it desires to proceed with such revision. If Landlord has begun performing the Tenant
Improvement Work, then, in the absence of such authorization, Landlord shall have the option to continue such performance disregarding
such revision. Landlord shall not revise the Approved Engineering Drawings without Tenant’s consent, which shall not be unreasonably
withheld or conditioned. Tenant shall approve, or reasonably disapprove (and state, with reasonable specificity, its reasons for
disapproving), any revision to the Approved Engineering Drawings within two (2) business days after receiving Landlord’s
request for approval thereof. Any change order affecting the Approved Engineering Drawings shall be deemed a revision to the Approved
Engineering Drawings. Tenant shall reimburse Landlord, immediately upon demand, for any increase in the total cost associated with
the Tenant Improvement Work that results from any revision to the Approved Engineering Drawings requested by Tenant, including
the cost of preparing such revision.

 

     

     

    

 

3.2.3Design
Bid Build. If Landlord, at its option, causes the Engineering Drawings to be delivered to Tenant on or before the date on which
the Architectural Drawings are first delivered to Tenant pursuant to Section 2.5 above, then (a) Section 3.2.2
above shall not apply; (b) Tenant’s review and approval of, and any revisions to, the Engineering Drawings shall be
governed by Sections 2.5 and 2.7 above as if the Engineering Drawings were part of the Architectural Drawings;
and (c) the Engineering Drawings, as approved by Tenant pursuant to Section 2.5 above, shall be referred to herein
as the “Approved Engineering Drawings”.

 

3.3Permits.
Landlord shall cause the Contractor to submit the Approved Architectural Drawings and the Approved Engineering Drawings (collectively,
the “Approved Construction Drawings”) to the appropriate municipal authorities and otherwise apply for and obtain
from such authorities all permits necessary for the Contractor to complete the Tenant Improvement Work (the “Permits”).

 

3.4Construction.

 

3.4.1Performance
of Tenant Improvement Work. Landlord shall cause the Contractor to perform the Tenant Improvement Work in accordance with
the Approved Construction Drawings.

 

3.4.2Contractor’s
Warranties. Tenant waives all claims against Landlord relating to any defects in the Tenant Improvements; provided, however,
that if, within 30 days after substantial completion of the Tenant Improvement Work, Tenant provides notice to Landlord of
any non-latent defect in the Tenant Improvements, or if, within 11 months after substantial completion of the Tenant Improvement
Work, Tenant provides notice to Landlord of any latent defect in the Tenant Improvements, then Landlord shall promptly cause such
defect to be corrected.

 

4COMPLIANCE
WITH LAW; SUITABILITY FOR TENANT’S USE. Landlord shall (a) cause the
Architectural Drawings and the Engineering Drawings, other than any Tenant Revision
(defined below), to comply with law, and (b) cause the Architect or the
Contractor, as applicable, to use the Required Level of Care (defined below) to cause any Tenant Revision to comply with law;
provided, however, that Landlord shall not be responsible for any violation of law resulting
from (a) any particular use of the Premises (as distinguished from general office use), or (b) any failure of the Approved
Additional Programming Information to comply with law. As used herein, “Tenant Revision” means any revision
to the Approved Space Plan or the Approved Construction Drawings made or requested by Tenant. As used herein, “Required
Level of Care” means the level of care that reputable architects and engineers customarily use to cause architectural
and engineering plans, drawings and specifications to comply with law where
such plans, drawings and specifications are prepared for spaces in buildings
comparable in quality to the Building. Except as provided above in this Section 4, Tenant shall be responsible
for ensuring that the Approved Space Plan, the Additional Programming Information, the Architectural Drawings and the Engineering
Drawings (collectively, the “Plans”) are suitable for Tenant’s use of the Premises and comply with law,
and neither the preparation of the Plans by Landlord’s consultants nor Landlord’s approval of the Plans shall relieve
Tenant from such responsibility. To the extent that either party (the “Responsible
Party”) is responsible under this Section 4 for causing the Plans to comply with law,
the Responsible Party may contest any alleged violation of law in good faith, including by seeking a waiver or deferment of compliance,
asserting any defense allowed by law, and exercising any right of appeal (provided
that the other party incurs no liability as a result of such contest and that, after completing such contest, the Responsible
Party makes any modification to the Plans or any alteration to the Premises that is necessary to comply with any final order or
judgment).

 

 5 COMPLETION.

 

5.1Substantial
Completion. For purposes of Section 1.3.2 of this Agreement, and subject to Section 5.2 below,
the Tenant Improvement Work shall be deemed to be “Substantially Complete” upon the completion of the Tenant
Improvement Work pursuant to the Approved Construction Drawings (as reasonably determined by Landlord), with the exception of any
details of construction, mechanical adjustment or any other similar matter the non-completion of which does not materially interfere
with Tenant’s use of the Premises.

 

5.2Tenant
Cooperation; Tenant Delay. Tenant shall use reasonable efforts to cooperate with Landlord, the Architect, the Contractor,
and Landlord’s other consultants to complete all phases of the Plans, obtain the Permits and complete the Tenant Improvement
Work as soon as possible, and Tenant shall meet with Landlord, in accordance with a schedule determined by Landlord, to discuss
the parties’ progress. Without limiting the foregoing, if (i) the Tenant Improvements include the installation of electrical
connections for furniture stations to be installed by Tenant, and (ii) any electrical or other portions of such furniture
stations must be installed in order for Landlord to obtain any governmental approval required for occupancy of the Premises, then
(x) Tenant, upon five (5) business days’ notice from Landlord, shall promptly install such portions of such furniture
stations in accordance with Sections 7.2 and 7.3 of this Lease, and (y) during the period of Tenant’s
entry into the Premises for the purpose of performing such installation, all of Tenant’s obligations under this Agreement
relating to the Premises shall apply, except for the obligation to pay Monthly Rent. In addition, without limiting the foregoing,
if the Substantial Completion of the Tenant Improvement Work is delayed (a “Tenant Delay”) as a result of (a) any
failure of Tenant to approve the Architectural Drawings pursuant to Section 2.5 above on or before Tenant’s Approval
Deadline; (b) any failure of Tenant to timely approve the Engineering Drawings, pursuant to Section 3.2.2.A above,
for any reason other than their failure to satisfy the Engineering Requirements; (c) any failure of Tenant to timely approve
any other matter requiring Tenant’s approval; (d) any breach by Tenant of this Work Letter or this Agreement; (e) any
request by Tenant for any revision to, or for Landlord’s approval of any revision to, any portion of the Plans that has previously
been approved by both parties (except to the extent that such delay results from a breach by Landlord of its obligations under
Section 2.7 or 3.2.2.B above); (f) [Intentionally Omitted]; (g) [Intentionally Omitted]; or (h) any
other act or omission of Tenant or any of its agents, employees or representatives, then, notwithstanding any contrary provision
of this Agreement, and regardless of when the Tenant Improvement Work is actually Substantially Completed, the Tenant Improvement
Work shall be deemed to be Substantially Completed on the date on which the Tenant Improvement Work would have been Substantially
Completed if no such Tenant Delay had occurred. Notwithstanding the foregoing, Landlord shall not be required to tender possession
of the Premises to Tenant before the Tenant Improvement Work has been Substantially Completed, as determined without giving effect
to the preceding sentence.

 

6.MISCELLANEOUS.
Notwithstanding any contrary provision of this Agreement, if Tenant defaults under this Agreement before the Tenant Improvement
Work is completed, Landlord’s obligations under this Work Letter shall be excused until such default is cured and Tenant
shall be responsible for any resulting delay in the completion of the Tenant Improvement Work. This Work Letter shall not apply
to any space other than the Premises.

 

     

     

    

 

EXHIBIT C

 

SKYWAY LANDING II

 

CONFIRMATION LETTER

 

_____________________,
20__

 

		To:	_______________________

                                                                                _______________________

                                                                                _______________________

                                                                                _______________________

 

Re:Office Lease
(the “Lease”) dated ______________, 20____, between ___________________________, a ________________________
(“Landlord”), and ______________________________, a _____________________ (“Tenant”), concerning
Suite _____ on the _______ floor of the building located at ___________________, _____________________ California.

 

Dear _________________:

 

In accordance with
the Lease, Tenant accepts possession of the Premises and confirms the following:

 

		1.	The Commencement Date is _____________ and the Expiration Date is _______________.

 

		2.	The exact number of rentable square feet within the Premises is _________ square feet, subject
to Section 2.1.1 of the Lease.

 

		3.	Tenant’s Share, based upon the exact number of rentable square feet within the Premises,
is ____________%, subject to Section 2.1.1 of the Lease.

 

Please acknowledge
the foregoing by signing all three (3) counterparts of this letter in the space provided below and returning two (2)
fully executed counterparts to my attention. Please note that, pursuant to Section 2.1.1 of the Lease, if Tenant fails
to execute and return (or, by notice to Landlord, reasonably object to) this letter within 20 days after receiving it, Tenant shall
be deemed to have executed and returned it without exception.

 

	 	 	 	“Landlord”:
	 	 	 	 
	 	 	 	_______________________________, 
	 	 	 	a ________________________
	 	 	 	 
	 	 	 	By:	                                                      
	 	 	 	Name:  	 
	 	 	 	Title:	 
	 	 	 	 	 
	Agreed and Accepted as of _____, 20__.	 	 	 
	 	 	 	 
	“Tenant”:	 	 	 
	 	 	 	 
	_______________________________,	 	 	 
	a ________________________	 	 	 
	 	 	 	 
	
        

        By:
	                                                      	 	 	 
	Name:	 	 	 	 
	Title:	 	 	 	 

 

     

     

    

 

EXHIBIT D

 

SKYWAY LANDING II

RULES AND REGULATIONS

 

Tenant shall comply
with the following rules and regulations (as modified or supplemented from time to time, the “Rules and Regulations”).
Landlord shall not be responsible to Tenant for the nonperformance of any of the Rules and Regulations by any other tenants or
occupants of the Project. In the event of any conflict between the Rules and Regulations and the other provisions of this Lease,
the latter shall control.

 

1.Tenant shall
not alter any lock or install any new or additional locks or bolts on any doors or windows of the Premises without obtaining Landlord’s
prior consent. Tenant shall bear the cost of any lock changes or repairs required by Tenant. Two (2) keys will be furnished
by Landlord for the Premises, and any additional keys required by Tenant must be obtained from Landlord at a reasonable cost to
be established by Landlord. Upon the termination of this Lease, Tenant shall restore to Landlord all keys of stores, offices and
toilet rooms furnished to or otherwise procured by Tenant, and if any such keys are lost, Tenant shall pay Landlord the cost of
replacing them or of changing the applicable locks if Landlord deems such changes necessary.

 

2.All doors opening
to public corridors shall be kept closed at all times except for normal ingress and egress to the Premises.

 

3.Landlord may
close and keep locked all entrance and exit doors of the Building during such hours as are customary for Comparable Buildings.
Tenant shall cause its employees, agents, contractors, invitees and licensees who use Building doors during such hours to securely
close and lock them after such use. Any person entering or leaving the Building during such hours, or when the Building doors are
otherwise locked, may be required to sign the Building register (if applicable), and access to the Building may be refused unless
such person has proper identification or has a previously arranged access pass. Landlord will furnish passes to persons for whom
Tenant requests them. Tenant shall be responsible for all persons for whom Tenant requests passes and shall be liable to Landlord
for all acts of such persons. Landlord and its agents shall not be liable for damages for any error with regard to the admission
or exclusion of any person to or from the Building. In case of invasion, mob, riot, evacuation, public excitement or other commotion,
Landlord may prevent access to the Building or the Project during the continuance thereof by any means it deems appropriate for
the safety and protection of life and property.

 

4.All moving activity
into or out of the Building shall be scheduled with Landlord and done only at such time and in such manner as Landlord designates.
Landlord may prescribe the weight, size and position of all safes and other heavy property brought into the Building and also the
times and manner of moving the same in and out of the Building. Safes and other heavy objects shall, if considered necessary by
Landlord, stand on supports of such thickness as is necessary to properly distribute the weight. Landlord will not be responsible
for loss of or damage to any such safe or property. Any damage to the Building, its contents, occupants or invitees resulting from
Tenant’s moving or maintaining any such safe or other heavy property shall be the sole responsibility and expense of Tenant
(notwithstanding Sections 7 and 10.4 of this Lease).

 

5.No furniture,
packages, supplies, equipment or merchandise will be received in the Building or carried up or down in the elevators, except between
such hours, in such specific elevator and by such personnel as shall be designated by Landlord.

 

6.Employees of
Landlord shall not perform any work or do anything outside their regular duties unless under special instructions from Landlord.

 

7.No sign, advertisement,
notice or handbill shall be exhibited, distributed, painted or affixed by Tenant on any part of the Premises or the Building without
Landlord’s prior consent. Tenant shall not disturb, solicit, peddle or canvass any occupant of the Project.

 

8.The toilet rooms,
urinals, wash bowls and other apparatus shall not be used for any purpose other than that for which they were constructed, and
no foreign substance shall be thrown therein. Notwithstanding Sections 7 and 10.4 of this Lease, Tenant shall
bear the expense of any breakage, stoppage or damage resulting from any violation of this rule by Tenant or any of its employees,
agents, contractors, invitees or licensees.

 

9.Tenant shall
not overload the floor of the Premises, or mark, drive nails or screws or drill into the partitions, woodwork or drywall of the
Premises, or otherwise deface the Premises, without Landlord’s prior consent. Tenant shall not purchase bottled water, ice,
towel, linen, maintenance or other like services from any person not approved by Landlord.

 

     

     

    

 

10.Except for snack
and soft drink vending machines at locations within the Premises reasonably approved by Landlord and intended for the sole use
of Tenant’s employees and invitees, no vending machine shall be installed, maintained or operated in the Premises without
Landlord’s prior consent.

 

11.Tenant shall
not, without Landlord’s prior consent, use, store, install, disturb, spill, remove, release or dispose of, within or about
the Premises or any other portion of the Project, any asbestos-containing materials, any solid, liquid or gaseous material now
or subsequently considered toxic or hazardous under the provisions of 42 U.S.C. Section 9601 et seq. or any other applicable
environmental Law, or any inflammable, explosive or dangerous fluid or substance; provided, however, that Tenant may use, store
and dispose of such substances in such amounts as are typically found in similar premises used for general office purposes provided
that such use, storage and disposal does not damage any part of the Premises, Building or Project and is performed in a safe manner
and in accordance with all Laws. Tenant shall comply with all Laws pertaining to and governing the use of such materials by Tenant
and shall remain solely liable for the costs of abatement and removal. No burning candle or other open flame shall be ignited or
kept by Tenant in or about the Premises, Building or Project.

 

12.Tenant shall
not, without Landlord’s prior consent, use any method of heating or air conditioning other than that supplied by Landlord.

 

13.Tenant shall
not use or keep any foul or noxious gas or substance in or on the Premises, or occupy or use the Premises in a manner offensive
or objectionable to Landlord or other occupants of the Project by reason of noise, odors or vibrations, or interfere with other
occupants or those having business therein, whether by the use of any musical instrument, radio, CD player or otherwise. Tenant
shall not throw anything out of doors, windows or skylights or down passageways.

 

14.Tenant shall
not bring into or keep within the Project, the Building or the Premises any animals (other than service animals legally required
to be admitted), birds, aquariums, or, except in areas designated by Landlord, bicycles or other vehicles.

 

15.No cooking shall
be done in the Premises, nor shall the Premises be used for lodging, for living quarters or sleeping apartments, or for any improper,
objectionable or immoral purposes. Notwithstanding the foregoing, Underwriters’ laboratory-approved equipment and microwave
ovens may be used in the Premises for heating food and brewing coffee, tea, hot chocolate and similar beverages for employees and
invitees, provided that such use complies with all Laws.

 

16.The Premises
shall not be used for manufacturing or for the storage of merchandise except to the extent such storage may be incidental to the
Permitted Use. Tenant shall not occupy the Premises as an office for a messenger-type operation or dispatch office, or for the
manufacture or sale of liquor, narcotics or tobacco, or as a medical office, a barber or manicure shop, or an employment bureau.

 

17.Landlord may
exclude from the Project any person who, in Landlord’s judgment, is intoxicated or under the influence of liquor or drugs,
or who violates any of these Rules and Regulations.

 

18.Tenant shall
not loiter in or on the entrances, corridors, sidewalks, lobbies, courts, halls, stairways, elevators, vestibules or any Common
Areas for the purpose of smoking tobacco products or for any other purpose, nor in any way obstruct such areas, and shall use them
only as a means of ingress and egress for the Premises.

 

19.Tenant shall
not waste electricity, water or air conditioning, shall cooperate with Landlord to ensure the most effective operation of the Building’s
heating and air conditioning system, and shall not attempt to adjust any controls. Tenant shall install and use in the Premises
only ENERGY STAR rated equipment, where available. Tenant shall use recycled paper in the Premises to the extent consistent with
its business requirements.

 

20.Tenant shall
store all its trash and garbage inside the Premises. No material shall be placed in the trash or garbage receptacles if, under
Law, it may not be disposed of in the ordinary and customary manner of disposing of trash and garbage in the vicinity of the Building.
All trash, garbage and refuse disposal shall be made only through entryways and elevators provided for such purposes at such times
as Landlord shall designate. Tenant shall comply with Landlord’s recycling program, if any.

 

21.Tenant shall
comply with all safety, fire protection and evacuation procedures and regulations established by Landlord or any governmental agency.
Tenant shall not, without Landlord's prior written consent (which consent may be granted or withheld in Landlord's sole and absolute
discretion), allow any employee, contractor or agent to carry any type of gun or other firearm in or about the Premises, the Building
or the Project.

 

     

     

    

 

22.Any persons
employed by Tenant to do janitorial work (a) shall be subject to Landlord’s prior consent; (b) shall not, in Landlord’s
reasonable judgment, disturb labor harmony with any workforce or trades engaged in performing other work or services at the Project;
and (c) while in the Building and outside of the Premises, shall be subject to the control and direction of the Building
manager (but not as an agent or employee of such manager or Landlord), and Tenant shall be responsible for all acts of such persons.

 

23.No awning or
other projection shall be attached to the outside walls of the Building. Other than Landlord’s Building-standard window coverings,
no curtains, blinds, shades or screens shall be attached to or hung in, or used in connection with, any window or door of the Premises.
All electrical ceiling fixtures hung in the Premises or spaces along the perimeter of the Building must be fluorescent and/or of
a quality, type, design and a warm white bulb color approved in advance by Landlord. Neither the interior nor exterior of any windows
shall be coated or otherwise sunscreened. Tenant shall abide by Landlord’s regulations concerning the opening and closing
of window coverings.

 

24.Tenant shall
not obstruct any sashes, sash doors, skylights, windows or doors that reflect or admit light or air into the halls, passageways
or other public places in the Building, nor shall Tenant place any bottles, parcels or other articles on the windowsills.

 

25.Tenant must
comply with requests by Landlord concerning the informing of their employees of items of importance to the Landlord.

 

26.Tenant must
comply with the State of California “No-Smoking” law set forth in California Labor Code Section 6404.5 (as may
be amended or replaced) and with any local “No-Smoking” ordinance that is not superseded by such law.

 

27.Tenant shall
cooperate in any safety or security program developed by Landlord or required by Law.

 

28.All office equipment
of an electrical or mechanical nature shall be placed by Tenant in the Premises in settings approved by Landlord, to absorb or
prevent any vibration, noise or annoyance.

 

29.Tenant shall
not use any hand trucks except those equipped with rubber tires and rubber side guards.

 

30.No auction,
liquidation, fire sale, going-out-of-business or bankruptcy sale shall be conducted in the Premises without Landlord’s prior
consent.

 

31.Without Landlord’s
prior consent, Tenant shall not use the name of the Project or Building or use pictures or illustrations of the Project or Building
in advertising or other publicity or for any purpose other than as the address of the business to be conducted by Tenant in the
Premises.

 

Landlord may from time
to time modify or supplement these Rules and Regulations in a manner that, in Landlord’s reasonable judgment, is appropriate
for the management, safety, care and cleanliness of the Premises, the Building, the Common Areas and the Project, for the preservation
of good order therein, and for the convenience of other occupants and tenants thereof, provided that no such modification or supplement
shall materially reduce Tenant’s rights or materially increase Tenant’s obligations hereunder. Landlord may waive any
of these Rules and Regulations for the benefit of any tenant, but no such waiver shall be construed as a waiver of such Rule and
Regulation in favor of any other tenant nor prevent Landlord from thereafter enforcing such Rule and Regulation against any tenant.
Notwithstanding the foregoing, no rule that is added to the initial Rules and Regulations shall be enforced against Tenant in a
manner that unreasonably discriminates in favor of any other similarly situated tenant.

 

     

     

    

 

EXHIBIT E

 

SKYWAY LANDING II

 

JUDICIAL REFERENCE

 

 

IF
THE JURY-WAIVER PROVISIONS OF SECTION 25.8 OF THIS LEASE ARE NOT ENFORCEABLE UNDER CALIFORNIA LAW, THE PROVISIONS SET
FORTH BELOW SHALL APPLY.

 

(a)It
is the desire and intention of the parties to agree upon a mechanism and procedure under which controversies and disputes arising
out of this Lease or related to the Premises will be resolved in a prompt and expeditious manner. Accordingly, subject to the exclusions
set forth in (b) below, any and every action, proceeding or cross-claim brought by either party hereto against the other (and/or
against its officers, directors, employees, agents or subsidiaries or affiliated entities) on any matters arising out of or in
any way connected with this Lease, Tenant’s use or occupancy of the Premises and/or any claim of injury or damage, whether
sounding in contract, tort, or otherwise, shall be heard and resolved by a referee under the provisions of the California Code
of Civil Procedure, Sections 638 — 645.1, inclusive (as same may be amended, or any successor statute(s) thereto) (the "Referee
Sections"). 

 

(b)Excluded
from the requirement of judicial reference set forth above are (i) actions to seek emergency injunctive relief, preliminary injunctive
relief, unlawful or forcible detainer, or a prejudgment writ of attachment and (ii) any dispute for which an alternative dispute
resolution procedure is otherwise expressly provided in the Lease (including any exhibits thereto). The actions described in (i)
above may be brought in the trial court in the county in which the Premises are located; provided, however, that as soon as practicable
after the trial court rules on one or more of the above issues, the parties shall refer the lawsuit, and any remaining issues,
controversies, or disputes to a referee, as provided in this section and the Referee Sections.

 

(c)Any
fee to initiate the judicial reference proceedings and all fees charged and costs incurred by the referee shall be paid by the
party initiating such procedure (except that if a reporter is requested by either party, then a reporter shall be present at all
proceedings where requested and the fees of such reporter – except for copies ordered by the other parties – shall
be borne by the party requesting the reporter); provided however, that allocation of the costs and fees, including any initiation
fee, of such proceeding shall be ultimately determined in accordance with Section 25.6 of this Lease.

 

(d)The
exclusive venue of the proceedings shall be in the county in which the Premises are located. 

 

(e)Within
10 days of receipt by any party of a request to resolve any dispute or controversy pursuant to this Exhibit E,
the parties shall agree upon a single referee who shall try all issues, whether of fact or law, and report a finding and judgment
on such issues as required by the Referee Sections. If the parties are unable to agree upon a referee within such 10-day period,
then any party may thereafter file a lawsuit in the county in which the Premises are located for the purpose of appointment of
a referee under the Referee Sections. If the referee is appointed by the court, the referee shall be a neutral and impartial retired
judge with substantial experience in the relevant matters to be determined, from the panels offered by JAMS or ADR Services, Inc.
The proposed referee may be challenged by any party for any of the grounds listed in the Referee Sections. The referee shall have
the power to decide all issues of fact and law and report his or her decision on such issues, and to issue all recognized remedies
available at law or in equity for any cause of action that is before the referee, including an award of attorneys’ fees and
costs in accordance with this Lease. The referee shall not, however, have the power to award punitive damages, nor shall the referee
have the power to award any other damages that are not permitted by the express provisions of this Lease, and the parties waive
any right to recover such damages.

 

(f)The
parties may conduct all discovery as provided in the California Code of Civil Procedure, and the referee shall oversee discovery
and may enforce all discovery orders in the same manner as any trial court judge, with rights to regulate discovery and to issue
and enforce subpoenas, protective orders and other limitations on discovery available under California Law. 

 

(g)The
reference proceeding shall be conducted in accordance with California Law (including the rules of evidence), and in all regards,
the referee shall follow California Law applicable at the time of the reference proceeding. The parties shall promptly and diligently
cooperate with one another and the referee, and shall perform such acts as may be necessary to obtain a prompt and expeditious
resolution of the dispute or controversy in accordance with the terms of this Exhibit E.
In this regard, the parties agree that the parties and the referee shall use best efforts to ensure that (a) discovery, including
all expert discovery (but excluding motions regarding discovery) be concluded within six (6) months of the date of the appointment
of the referee, and (b) a trial date be set so that the trial proceeding is held no more than nine (9) months after the date of
the appointment of the referee. 

 

     

     

    

 

(h)In
accordance with Section 644 of the California Code of Civil Procedure, the decision of the referee upon the whole issue must stand
as the decision of the court, and upon the filing of the statement of decision with the clerk of the court, or with the judge
if there is no clerk, judgment may be entered thereon in the same manner as if the action had been tried by the court. Any decision
of the referee and/or judgment or other order entered thereon shall be appealable to the same extent and in the same manner that
such decision, judgment, or order would be appealable if rendered by a judge of the superior court in which venue is proper hereunder.
The referee shall in his/her statement of decision set forth his/her findings of fact and conclusions of law. The parties intend
this general reference agreement to be specifically enforceable in accordance with the Code of Civil Procedure. Nothing in this
Exhibit E shall prejudice the right of any party to obtain provisional relief
or other equitable remedies from a court of competent jurisdiction as shall otherwise be available under the Code of Civil Procedure
and/or applicable court rules.  

 

     

     

    

 

EXHIBIT F

 

SKYWAY LANDING II 

ADDITIONAL PROVISIONS

 

		1.	California Civil Code Section 1938. Pursuant to California Civil Code § 1938,
Landlord hereby states that the Premises have not undergone inspection by a Certified Access Specialist (CASp) (defined in California
Civil Code § 55.52).

 

2.Extension Option.

 

		2.1.	Grant of Option; Conditions. Tenant shall have the right (the “Extension Option”)
to extend the Term for one (1) additional period of five (5) years beginning on the day immediately following the expiration
date of the Lease and ending on the 5th anniversary of such expiration date (the “Extension Term”), if:

 

		(a)	not less than 9 and not more than 12 full calendar months before the expiration date of the Lease,
Tenant delivers written notice to Landlord (the “Extension Notice”) electing to exercise the Extension Option
and stating Tenant’s estimate of the Prevailing Market (defined in Section 2.5 below) rate for the Extension
Term;

 

		(b)	no Default exists when Tenant delivers the Extension Notice;

 

		(c)	no part of the Premises is sublet (other than to an Affiliate of Tenant) when Tenant delivers the
Extension Notice; and

 

		(d)	the Lease has not been assigned (other than pursuant to a Permitted Transfer) before Tenant delivers
the Extension Notice.

 

		2.2.	Terms Applicable to Extension Term.

 

		A.	During the Extension Term, (a) the Base Rent rate per rentable square foot shall be equal
to the Prevailing Market rate per rentable square foot; (b) Base Rent shall increase, if at all, in accordance with the increases
assumed in the determination of Prevailing Market rate; and (c) Base Rent shall be payable in monthly installments in accordance
with the terms and conditions of the Lease.

 

		B.	During the Extension Term Tenant shall pay Tenant’s Share of Expenses and Taxes for the Premises
in accordance with the Lease.

 

		2.3.	Procedure for Determining Prevailing Market.

 

		A.	Initial Procedure. Within 30 days after receiving the Extension Notice, Landlord shall
give Tenant either (i) written notice (“Landlord’s Binding Notice”) accepting Tenant’s
estimate of the Prevailing Market rate for the Extension Term stated in the Extension Notice, or (ii) written notice (“Landlord’s
Rejection Notice”) rejecting such estimate and stating Landlord’s estimate of the Prevailing Market rate for the
Extension Term. If Landlord gives Tenant a Landlord’s Rejection Notice, Tenant, within 15 days thereafter, shall give
Landlord either (i) written notice (“Tenant’s Binding Notice”) accepting Landlord’s
estimate of the Prevailing Market rate for the Extension Term stated in such Landlord’s Rejection Notice, or (ii) written
notice (“Tenant’s Rejection Notice”) rejecting such estimate. If Tenant gives Landlord a Tenant’s
Rejection Notice, Landlord and Tenant shall work together in good faith to agree in writing upon the Prevailing Market rate for
the Extension Term. If, within 30 days after delivery of a Tenant’s Rejection Notice, the parties fail to agree in writing
upon the Prevailing Market rate, the provisions of Section 2.3.B below shall apply.

 

		B.	Dispute Resolution Procedure.

 

		1.	If, within 30 days after delivery of a Tenant’s Rejection Notice, the parties fail to
agree in writing upon the Prevailing Market rate, Landlord and Tenant, within five (5) days thereafter, shall each simultaneously
submit to the other, in a sealed envelope, its good faith estimate of the Prevailing Market rate for the Extension Term (collectively,
the “Estimates”). Within seven (7) days after the exchange of Estimates, Landlord and Tenant shall each
select a broker or agent (an “Agent”) to determine which of the two Estimates most closely reflects the Prevailing
Market rate for the Extension Term. Each Agent so selected shall be licensed as a real estate broker or agent and in good standing
with the California Department of Real Estate, and shall have had at least five (5) years’ experience within the previous
10 years as a commercial real estate broker or agent working in San Carlos, California, with working knowledge of current rental
rates and leasing practices relating to buildings similar to the Building.

 

     

     

    

 

		2.	If each party selects an Agent in accordance with Section 2.3.B.1 above, the parties
shall cause their respective Agents to work together in good faith to agree upon which of the two Estimates most closely reflects
the Prevailing Market rate for the Extension Term. The Estimate, if any, so agreed upon by such Agents shall be final and binding
on both parties as the Prevailing Market rate for the Extension Term and may be entered in a court of competent jurisdiction. If
the Agents fail to reach such agreement within 20 days after their selection, then, within 10 days after the expiration
of such 20-day period, the parties shall instruct the Agents to select a third Agent meeting the above criteria (and if the Agents
fail to agree upon such third Agent within 10 days after being so instructed, either party may cause a court of competent
jurisdiction to select such third Agent). Promptly upon selection of such third Agent, the parties shall instruct such Agent (or,
if only one of the parties has selected an Agent within the 7-day period described above, then promptly after the expiration of
such 7-day period the parties shall instruct such Agent) to determine, as soon as practicable but in any case within 14 days
after his selection, which of the two Estimates most closely reflects the Prevailing Market rate. Such determination by such Agent
(the “Final Agent”) shall be final and binding on both parties as the Prevailing Market rate for the Extension
Term and may be entered in a court of competent jurisdiction. If the Final Agent believes that expert advice would materially assist
him, he may retain one or more qualified persons to provide such expert advice. The parties shall share equally in the costs of
the Final Agent and of any experts retained by the Final Agent. Any fees of any other broker, agent, counsel or expert engaged
by Landlord or Tenant shall be borne by the party retaining such broker, agent, counsel or expert.

 

		C.	Adjustment. If the Prevailing Market rate has not been determined by the commencement date
of the Extension Term, Tenant shall pay Base Rent for the Extension Term upon the terms and conditions in effect during the last
month ending on or before the expiration date of the Lease until such time as the Prevailing Market rate has been determined. Upon
such determination, the Base Rent for the Extension Term shall be retroactively adjusted. If such adjustment results in an under-
or overpayment of Base Rent by Tenant, Tenant shall pay Landlord the amount of such underpayment, or receive a credit in the amount
of such overpayment, with or against the next Base Rent due under the Lease.

 

		2.4.	Extension Amendment. If Tenant is entitled to and properly exercises its Extension Option,
and if the Prevailing Market rate for the Extension Term is determined in accordance with Section 2.3 above, Landlord,
within a reasonable time thereafter, shall prepare and deliver to Tenant an amendment (the “Extension Amendment”)
reflecting changes in the Base Rent, the Term, the expiration date of the Lease, and other appropriate terms in accordance with
this Section 2, and Tenant shall execute and return (or provide Landlord with reasonable objections to) the Extension
Amendment within 30 days after receiving it. Notwithstanding the foregoing, upon determination of the Prevailing Market rate
for the Extension Term in accordance with Section 2.3 above, an otherwise valid exercise of the Extension Option shall
be fully effective whether or not the Extension Amendment is executed.

 

		2.5.	Definition of Prevailing Market. For purposes of this Extension Option, “Prevailing
Market” shall mean the arms-length, fair-market, annual rental rate per rentable square foot under extension and renewal
leases and amendments entered into on or about the date on which the Prevailing Market is being determined hereunder for space
comparable to the Premises in the Building and office buildings comparable to the Building in the San Carlos, California area.
The determination of Prevailing Market shall take into account (i) any material economic differences between the terms of
the Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions, and the manner,
if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes; (ii) any material differences
in configuration or condition between the Premises and any comparison space, including any cost that would have to be incurred
in order to make the configuration or condition of the comparison space similar to that of the Premises; and (iii) any reasonably
anticipated changes in the Prevailing Market rate from the time such Prevailing Market rate is being determined and the time such
Prevailing Market rate will become effective under the Lease.

 

		2.6.	Intentionally Omitted.

 

     

     

    

 

		3.	Building Signage.

 

		3.1	Tenant’s Right to Building Signage. Subject to the terms of this Section 3,
from and after the Commencement Date, Tenant shall have the right (without payment of a monthly charge or fee) to install, maintain,
repair, replace and operate the Building Signage (defined below). As used herein, “Building Signage” means a
sign that (i) bears the Tenant Name (defined below) and is located at the top of the exterior side of the Building facing
the 101 Highway (i.e., the West side of the Building), as more particularly shown in Exhibit G attached hereto.
As used herein, “Tenant Name” means, at any time, at Tenant’s discretion, (i) the name of Tenant
set forth in the first paragraph of this Lease (“Tenant’s Existing Name”), or (ii) if Tenant’s
name is not then Tenant’s Existing Name, then Tenant’s name, provided that such name is compatible with a first-class
office building, as determined by Landlord in its reasonable discretion, and/or (iii) Tenant’s logo, provided that such
logo is then being used by Tenant on a substantially nationwide basis and is compatible with a first-class office building, as
determined by Landlord in its reasonable discretion. Notwithstanding any contrary provision hereof, Tenant’s rights to the
Building Signage under this Section 3 shall be personal to the party named as Tenant in the first paragraph of this
Lease (“Existing Tenant”) and to any successor to Existing Tenant’s interest in the Lease that acquires
its interest in the Lease solely by means of one or more Permitted Transfers originating with Existing Tenant, and may not be transferred
to any other party.

 

		3.2	Landlord’s Approval. The size, color, materials and all other aspects of the Building
Signage, including the manner in which it is attached to the Building and any provisions for illumination, shall be subject to
Landlord’s approval, which may be withheld in Landlord’s reasonable discretion; provided, however, that Landlord’s
approval as to aesthetic matters may be withheld in Landlord’s sole and absolute (but good faith) discretion.

 

		3.3	General Provisions. Tenant, at its expense, shall design, fabricate, install, maintain,
repair, replace, operate and remove the Building Signage, in each case in a first class manner consistent with a first-class office
building and in compliance with all applicable Laws. Without limiting the foregoing, Tenant shall not install or modify the Building
Signage until after obtaining and providing copies to Landlord of all permits and approvals necessary therefor. Tenant shall be
solely responsible, at its expense, for obtaining such permits and approvals; provided, however, that Landlord shall reasonably
cooperate with Tenant, at no material cost or liability to Landlord, in executing permit applications and performing any other
ministerial acts reasonably necessary to enable Tenant to obtain such permits and approvals. Within 30 days after the expiration
or earlier termination of the Lease (or, if earlier, the date on which Tenant becomes no longer entitled to Building Signage under
this Section 3), Tenant, at its expense, shall remove the Building Signage and restore all damage to the Building caused
by its installation, operation or removal. Notwithstanding any contrary provision of the Lease, Tenant, not Landlord, shall, at
its expense, (i) cause its property insurance policy to cover the Building Signage, and (ii) promptly repair the Building
Signage if it is damaged by fire or any other casualty (unless Tenant, by prompt written notice to Landlord, elects to remove the
Building Signage altogether, in which event Tenant shall no longer be entitled to Building Signage under this Section 3).
Except as may be expressly provided in this Section 3, the installation, maintenance, repair, replacement, removal
and any other work performed by Tenant affecting the Building Signage shall be governed by the provisions of Section 7
of the Lease as if such work were an Alteration. If an emergency results from Tenant’s failure to maintain, repair, replace,
operate or remove the Building Signage as required under this Section 3, then, without limiting Landlord’s remedies,
Landlord, at its option, with notice to Tenant (by telephone, e-mail, fax or any other reasonable method, notwithstanding Section 25.1
of the Lease), may perform such maintenance, repair, replacement, operation or removal, in which event Tenant shall reimburse Landlord
for the reasonable cost thereof upon Landlord’s demand. The costs of any utilities consumed in operation of the Building
Signage shall be paid by Tenant upon Landlord’s demand in accordance with Section 6 of the Lease.

 

     

     

    

 

EXHIBIT G

 

SKYWAY LANDING II 

OUTLINE AND LOCATION OF BUILDING SIGNAGE

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