Common use of Options to Extend Term Clause in Contracts

Options to Extend Term. (a) Provided that Tenant is not in default under this Lease, subject to the terms of this Section 2.04, Landlord hereby grants to Tenant three (3) option(s) (the "Option(s)") to extend the Lease Term for additional period(s) of five (5) years each (the "Extension(s)"). Each Option shall be exercised only by written notice delivered to Landlord not more than three hundred sixty-five (365) days nor less than two hundred and seventy (270) days before the expiration of the Lease Term. If Tenant fails to deliver Landlord written notice of the exercise of an Option within the prescribed time period, such Option and any succeeding Options shall lapse and there shall be no further right to extend the Lease Term. Tenant acknowledges and agrees that time is of the essence in exercising each Option. (b) If Tenant timely and properly exercises an Option hereunder, then said additional five (5) year Extension (each, an "Extension Period") shall be under the same terms and conditions as provided in this Lease, except as follows: (i) the Extension Period shall begin on the day after the expiration of the original Lease Term or the preceding Extension of the Lease Term, as applicable; and (ii) the annual Base Rent payable by Tenant during such Extension Period shall be determined based on the Fair Market Rental Rate (as defined in subsection (c) below), which Fair Market Rental Rate shall increase by two percent (2%) on each anniversary date of the Term Commencement Date during such Extension Period (i.e. shall include a two percent (2%) annual escalator). (c) For purposes of this Section 2.04, the "Fair Market Rental Rate" shall mean the arm's length, fair market annual rental rate per rentable square foot under renewal leases and amendments entered into on or about the date on which the Fair Market Rental Rate is being determined hereunder, for space comparable to the Premises (excluding the Tenant Improvements/Equipment) in the same geographic submarket. The determination of Fair Market Rental Rate shall take into account all relevant factors, including any material economic differences between the terms of this Lease and any comparison lease, such as rent abatements, construction costs, leasing commissions and other concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Fair Market Rental Rate shall also take into consideration any reasonably anticipated changes in the Fair Market Rental Rate from the time such Fair Market Rental Rate is being determined and the time such Fair Market Rental Rate will become effective under this Lease. As part of the determination of Fair Market Rental Rate, the annual increase in said rate for each year of the Extension Period shall also be determined.

Options to Extend Term. Section 27 of the Lease is hereby deleted in its entirety and replaced with the following: (a) Provided that If Tenant has not committed more than two (2) financial or monetary Events of Default beyond any applicable cure period at any time during the Term, and the original Tenant or an assignee or sublessee under a Permitted Transfer is not in default under occupying the entire Premises at the time of such election, Tenant may extend this LeaseLease for two (2) additional, subject to the terms of this Section 2.04, Landlord hereby grants to Tenant three (3) option(s) (the "Option(s)") to extend the Lease Term for additional period(s) consecutive periods of five (5) years each (the "Extension(seach “Additional Extension Term”)"). Each Option shall be exercised only , by delivering written notice delivered (an “Extension Notice”) of the exercise thereof to Landlord not more earlier than three hundred sixty-five twelve (36512) days months nor less later than two hundred and seventy nine (2709) days months before the then-expiration of the Lease Term. The Annual Base Rent payable for each such Additional Extension Term shall be the prevailing annual rental rate (the “Prevailing Rental Rate”) at the commencement of the applicable Additional Extension Term, for renewals of light industrial, manufacturing and/or research and development space in the I-495/I-95 submarket of equivalent quality, size, utility and location, with the length of the Additional Extension Term to be taken into account, and annual increases in the Prevailing Rental Rate throughout the Additional Extension Term, as applicable. Within thirty (30) days after receipt of Tenant’s notice to extend, Landlord shall deliver to Tenant notice of the Prevailing Rental Rate and shall advise Tenant of the required adjustment to Annual Rent, if any, and the other terms and conditions offered. Tenant shall, within thirty (30) days after receipt of Landlord’s notice, notify Landlord in writing whether ▇▇▇▇▇▇ accepts or rejects ▇▇▇▇▇▇▇▇’s determination of the Prevailing Rental Rate. If Tenant timely notifies Landlord that ▇▇▇▇▇▇ accepts Landlord’s determination of the Prevailing Rental Rate or if Tenant fails to deliver timely notify Landlord written notice that it rejects such determination by Landlord, then, on or before the commencement date of the exercise of Additional Extension Term, Landlord and Tenant shall execute an Option within amendment to this Lease extending the prescribed time period, such Option and any succeeding Options shall lapse and there shall be no further right to extend the Lease Term. Tenant acknowledges and agrees that time is of the essence in exercising each Option. (b) If Tenant timely and properly exercises an Option hereunder, then said additional five (5) year Extension (each, an "Extension Period") shall be under Term on the same terms and conditions as provided in this Lease, except as follows: (ib) Annual Rent for the Additional Extension Period Term shall begin on be adjusted to the day after Prevailing Rental Rate as determined by Landlord, and as further adjusted by the expiration second sentence of the original Lease Term or the preceding Extension of the Lease Termabove paragraph; (c) Except as provided herein, as applicableTenant shall have no further extension option unless expressly granted by Landlord in writing; and (iid) the annual Base Rent payable by Landlord shall lease to Tenant during such Extension Period shall be determined based on the Fair Market Rental Rate (as defined in subsection (c) below), which Fair Market Rental Rate shall increase by two percent (2%) on each anniversary date of the Term Commencement Date during such Extension Period (i.e. shall include a two percent (2%) annual escalator). (c) For purposes of this Section 2.04, the "Fair Market Rental Rate" shall mean the arm's length, fair market annual rental rate per rentable square foot under renewal leases and amendments entered into on or about the date on which the Fair Market Rental Rate is being determined hereunder, for space comparable to the Premises in its then-current condition, and Landlord shall not provide to Tenant any allowances (excluding the Tenant Improvements/Equipment) in the same geographic submarket. The determination of Fair Market Rental Rate shall take into account all relevant factorse.g., including any material economic differences between the terms of this Lease and any comparison lease, such as rent abatementsmoving allowance, construction costsallowance, leasing commissions and other concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Fair Market Rental Rate shall also take into consideration any reasonably anticipated changes in the Fair Market Rental Rate from the time such Fair Market Rental Rate is being determined and the time such Fair Market Rental Rate will become effective under this Lease. As part of the determination of Fair Market Rental Rate, the annual increase in said rate for each year of the Extension Period shall also be determinedlike) or other tenant inducements.

Options to Extend Term. (a) Provided that Tenant shall have and is not in default under this Lease, subject to hereby granted the terms of this Section 2.04, Landlord hereby grants to Tenant three (3) option(s) (the "Option(s)") option to extend the Lease Term hereof for two (2) additional period(s) periods of five (5) years each (the "Extension(s)Extension Period"). Each Option shall be exercised only by , provided (i) Tenant gives written notice delivered to Landlord not more of Tenant's election of interest to exercise such extension option no earlier than three hundred sixty-five fifteen (36515), and no later than twelve (12) days nor less than two hundred and seventy (270) days before months, prior to the expiration of the last Lease Year of the Term. If Tenant fails to deliver Landlord written notice ; and (ii) no event of default has occurred and is continuing at the time of the exercise of an Option such option or arises subsequent thereto, which event by notice and/or the passage of time would constitute a default by Tenant if not cured within the prescribed time applicable cure period, such Option and any succeeding Options shall lapse and there shall be no further right to extend the Lease Term. Tenant acknowledges and agrees that time is of the essence in exercising each Option. (b) If Tenant timely All terms and properly exercises an Option hereunderconditions of this Lease, then said additional five (5) year Extension (eachincluding without limitation all provisions governing the payment of Additional Rent, an "shall remain in full force and effect during the Extension Period", except that no Construction Allowance shall be provided and Monthly Base Rent payable during the Extension Period(s) shall be under the same terms then-current fair market rental rate for renewal tenants with respect to comparable office space at the time of the exercise of the option granted herein, taking into account market concessions for renewals of existing leases in office buildings comparable to the Building, but in no event less than the fully escalated Monthly Base Rent, Operating Expenses and conditions as provided Taxes in this Lease, except as follows: effect for the last Lease Year of the Term (ithe "Option Rental Rate") and the Base Year for Taxes and Operating Expenses shall be the calendar year in which the Extension Period shall begin on the day after the expiration of the original Lease Term or the preceding Extension of the Lease Term, as applicable; and (ii) the annual Base Rent payable by Tenant during such Extension Period shall be determined based on the Fair Market Rental Rate (as defined in subsection (c) below), which Fair Market Rental Rate shall increase by two percent (2%) on each anniversary date of the Term Commencement Date during such Extension Period (i.e. shall include a two percent (2%) annual escalator)commences. (c) For purposes Landlord shall provide Tenant notice of its determination of the Option Rental Rate within fifteen (15) days after Tenant provides its written notice of interest to extend. Tenant shall have thirty (30) days from receipt of Landlord's determination to either (1) extend the Term of this Section 2.04Lease, (2) elect not to extend the "Fair Market Rental Rate" Term of this Lease or (3) elect to extend the Term of this Lease in accordance with the provisions of subparagraph (d) below. In the event Tenant fails to elect any of the aforementioned three (3) options within said 30-day period, Tenant shall mean be deemed to have elected option (2). (d) In the arm's lengthevent Tenant shall elect option 3 in subparagraph (c) above, fair market annual rental rate per rentable square foot under renewal leases Landlord and amendments entered into on or about Tenant shall negotiate in good faith to arrive at a mutually-agreeable Monthly Base Rent for the Extension Period, for a period of thirty (30) days after the date on which the Fair Market Rental Rate is being determined hereunder, for space comparable Landlord receives Tenant's written notice of Tenant's election pursuant to the Premises preceding sentence. In the event Landlord and Tenant are unable to agree upon the Monthly Base Rent for such Extension Period within said thirty (excluding 30)-day period, then within five (5) days thereafter, Landlord and Tenant shall each simultaneously submit to the Tenant Improvements/Equipmentother in a sealed envelope its good faith estimate of the Option Rental Rate. If the higher of such estimates is not more than one hundred five percent (105%) in of the same geographic submarket. The determination lower of Fair Market such estimates, then the Option Rental Rate shall take into account all relevant factorsbe the average of the two estimates. If the matter is not resolved by the exchange of estimates, including any material economic differences between then the terms of this Lease and any comparison lease, such as rent abatements, construction costs, leasing commissions and other concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Fair Market Option Rental Rate shall also take into consideration any reasonably anticipated changes in the Fair Market Rental Rate from the time such Fair Market Rental Rate is being be determined as follows: each of Landlord and Tenant shall select a licensed real estate broker, and the time such Fair Market Rental Rate will become effective under this Lease. As part of the determination of Fair Market Rental Rate, the annual increase in said rate for each year of the Extension Period two (2) brokers so selected shall also be determined.jointly select a third (3rd)

Options to Extend Term. Tenant shall have two (a2) Provided that Tenant is not in default under options to extend the term of this Lease, subject to the terms of this Section 2.04, Landlord hereby grants to Tenant three (3) option(s) (the "Option(s)") to extend the Lease Term each for additional period(s) of a five (5) years each year period (the an "Extension(s)Option Period"). Each Option , provided (a) Tenant shall be exercised only by written give notice delivered to Landlord of its exercise of an option not more than three hundred sixty-five (365) days nor less than two hundred and seventy nine (2709) days before months prior to the expiration of the Lease Term or the first Option Period, as the case may be, (b) no default beyond any applicable grace period in the obligations of Tenant under this Lease shall exist at the time such notice is given and (c) Tenant shall not have been in default under this Lease beyond any applicable grace period on more than two (2) occasions during the entire preceding Lease Term. If Tenant fails to deliver Landlord written notice All of the exercise terms and provisions of an Option within the prescribed time period, such Option and any succeeding Options shall lapse and there this Lease shall be applicable during each Option Period except that (a) Tenant shall have no further right option to extend the term of this Lease Term. Tenant acknowledges beyond the second Option Period and agrees that time is of the essence in exercising each Option. (b) If Tenant timely and properly exercises an the Base Rent for each Option hereunder, then said additional five (5) year Extension (each, an "Extension Period") Period shall be under the same terms and conditions as provided in this Lease, except as follows: greater of (i) the Extension Period shall begin on Base Rent for the day after the expiration last year of the original Lease Term or the preceding Extension first Option Period, as the case may be, or (iii) Market Rent, as defined below, as of the Lease Termfirst day of such Option Period. "Market Rent" shall be computed as of the applicable date at the then current rentals being charged to new tenants for comparable space located in comparable buildings, taking into account and giving effect to, in determining comparability, without limitation, such considerations as applicable; and size, location and condition of premises and lease term. Landlord shall designate Market Rent for the next Option Period within thirty (ii30) days after Tenant's written request, therefor (such request to be made no earlier than one (1) year before such Option Period). If Landlord shall not have previously designated Market Rent, after Tenant shall exercise an option to extend for an Option Period, Landlord shall initially designate Market Rent and shall furnish data in support of such designation. If Tenant shall have exercised its option to extend for the annual Base Option Period but shall disagree with Landlord's designation of the Market Rent, then Tenant shall have the right, by notice given within fourteen (14) days after Tenant's receipt of Landlord's designation, to submit such Market Rent payable by Tenant during such Extension Period to arbitration as follows. Market Rent shall be determined based on by arbitrators, one chosen by Tenant, one chosen by Landlord and a third selected, if necessary, as below provided. All arbitrators selected under this Section shall be experienced real estate appraisers with substantial experience with properties in the Fair Market Rental Rate (as defined in subsection (c) below), which Fair Market Rental Rate shall increase by two percent (2%) on each anniversary date vicinity of the Term Commencement Date during such Extension Period Premises. If within fourteen (i.e. 14) days after Tenant's notice the parties shall include agree upon a two percent (2%) annual escalator). (c) For purposes of this Section 2.04single arbitrator or if one party shall fail to select an arbitrator, the "Fair arbitrator selected by the other shall be the sole arbitrator, and Market Rental Rate" Rent shall mean be determined by such arbitrator. The unanimous written decision of the arm's lengthtwo first chosen (or the decision of the first, fair market annual rental rate per rentable square foot under renewal leases if a second arbitrator is not chosen) without selection and amendments entered into on participation of a third arbitrator, or about otherwise the date on which written decision of a majority of the Fair Market Rental Rate is being determined three arbitrators chosen and selected as provided herein, shall be conclusive and binding upon Landlord and Tenant. Landlord and Tenant shall each notify the other of its chosen arbitrator within fourteen (14) days following the call for arbitration, and, unless such two arbitrators shall have either reached a unanimous decision within thirty (30) days after their designation or jointly selected a third arbitrator, they shall so notify the then President of the local Real Estate Board and request him to select an impartial third arbitrator to act hereunder, for space comparable or if such individual does not exist or is unavailable, then they shall apply to a court of competent jurisdiction to select an impartial third arbitrator. Such third arbitrator and the first two chosen shall hear the parties and their evidence and render their decision within thirty (30) days following the conclusion of such hearing and notify Landlord and Tenant thereof. Landlord and Tenant shall bear the expense of the third arbitrator (if any) equally. If the dispute between 4 the parties as to Market Rent shall not have been resolved before the commencement of Tenant's obligation to pay rent based upon Market Rent, then Tenant shall pay rent based upon the Market Rent designated by Landlord until either the agreement of the parties as to the Premises (excluding Market Rent or the Tenant Improvements/Equipment) in the same geographic submarket. The determination of Fair Market Rental Rate shall take into account all relevant factors, including any material economic differences between the terms of this Lease and any comparison lease, such as rent abatements, construction costs, leasing commissions and other concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Fair Market Rental Rate shall also take into consideration any reasonably anticipated changes in the Fair Market Rental Rate from the time such Fair Market Rental Rate is being determined and the time such Fair Market Rental Rate will become effective under this Lease. As part decision of the determination arbitrators, as the case may be, at which time Tenant shall pay any underpayment of Fair Market Rental Rate, the annual increase in said rate for each year rent to Landlord or Landlord shall refund any overpayment of the Extension Period shall also be determinedrent to Tenant.

Options to Extend Term. (a) Provided that Tenant is not in default under this Lease, subject to the terms of this Section 2.04, Landlord hereby grants to Tenant three two (32) option(s) (the "Option(s)") options to extend the Lease Term (Extension Options) for additional period(s) a period of five (5) years each (Option Term) on all of the "Extension(s)")same terms and conditions of this Lease, except for the amount of Rent payable. Each Extension Option shall may be exercised only by written notice delivered by Tenant to Landlord not more than three hundred sixty-five as provided below. The Rent payable for each Option Term shall be equal to the Fair Market Rent Value of the Premises as of the commencement date of the Option Term. For purposes of this Section, Fair Market Rent Value shall be the rental rate, including escalations, at which tenants lease space comparable in size, location and quality, for a term comparable to the Option Term, taking into account rental abatement concessions, tenant improvement allowances and other monetary concessions. If Tenant wishes to exercise an Extension Option, Tenant shall deliver written notice (365Interest Notice) days nor to Landlord no less than two hundred and seventy six (2706) days months before the expiration of the Lease Term or Extended Term. Within thirty (30) days of receipt of the Interest Notice, Landlord shall deliver notice (Option Rent Notice) to Tenant stating the Option Rent based on Landlord's determination of Fair Market Rental Value as of the commencement of the Option Term. If Tenant fails wishes to exercise the Extension Option, Tenant must deliver Landlord written notice (Exercise Notice) within thirty (30) days after receipt of the exercise of an Option within Rent Notice. If Tenant wishes to contest the prescribed time periodOption Rent stated in the Option Rent Notice, such Tenant must provide, with the Exercise Notice, written notice to Landlord that Tenant objects to the stated Option and any succeeding Options shall lapse and there Rent. In that event, Fair Market Rent Value shall be no further right determined by arbitration as follows: a. Landlord and Tenant shall diligently attempt in good faith to extend agree on the Lease Term. Tenant acknowledges and agrees that time is of Fair Market Rental Value on or before the essence in exercising each Optiontenth (10th) day after Tenant's objection to the Fair Market Rental Value ("Outside Agreement Date"). (b) b. If Landlord and Tenant timely fail to reach agreement by the Outside Agreement Date, each shall make a separate determination of Fair Market Rental Value and properly exercises an Option hereunder, then said additional notify the other party of this determination within five (5) year Extension (eachdays after the Outside Agreement Date. If each party makes a timely determination of Fair Market Rental Value, an "Extension Period") those determinations shall be submitted to arbitration in accordance with subsection (c) below. If either party fails to make a determination of Fair Market Rental Value within the five (5) day period, that failure shall be conclusively considered to be that party's approval of the Fair Market Rental Value submitted within the five-day period by the other party. c. If both parties make timely individual determinations of the Fair Market Rental Value under subsection (b) above, the same terms and conditions as provided in this LeaseFair Market Rental Value shall be determined by binding arbitration, except as follows: (i) the Extension Period shall begin on the day after the expiration The determination of the original Lease Term arbitrators shall be limited to the sole issue of whether Landlord's or Tenant's submitted Fair Market Rental Value is the preceding Extension closest to the actual Fair Market Rental Value as determined by the arbitrators, taking into account the requirements of the Lease Term, as applicable; andthis Section. (ii) The arbitrators must be licensed real estate appraisers who have been active in the annual Base Rent payable by appraisal of commercial office buildings in the Amador County area during the five (5) yea▇ ▇▇▇▇od ending on the date of his or her appointment as arbitrators. (iii) Within fifteen (15) days of the Outside Agreement Date, Landlord and Tenant during such Extension Period shall each appoint one arbitrator and notify the other party of the name and address of the arbitrator appointed. The two arbitrators shall within ten (10) days after appointment of the second arbitrator agree on and appoint a third arbitrator, who shall be determined based on qualified under the same criteria set forth above. (iv) Within thirty (30) days after the appointment of the third arbitrator, the three (3) arbitrators shall decide whether the Landlord's or the Tenant's submitted Fair Market Rental Rate (as defined in subsection (c) below), which Fair Market Rental Rate Value shall increase by two percent (2%) on each anniversary date be used and shall notify Landlord and Tenant of their decision. The decision of the Term Commencement Date during such Extension Period majority of the three (i.e. 3) arbitrators shall include a two percent (2%) annual escalator)be binding on Landlord and Tenant. (cv) For purposes of this Section 2.04If either Landlord or Tenant fails to appoint an arbitrator within fifteen (15) days after the Outside Agreement Date, the "Fair Market Rental Rate" arbitrator timely appointed by one of them shall mean reach a decision and notify Landlord and Tenant of that decision within thirty (30) days after the armarbitrator's length, fair market annual rental rate per rentable square foot under renewal leases and amendments entered into on or about the date on which the Fair Market Rental Rate is being determined hereunder, for space comparable to the Premises (excluding the Tenant Improvements/Equipment) in the same geographic submarketappointment. The determination of Fair Market Rental Rate arbitrator's decision shall take into account be binding on Landlord and Tenant. (vi) The losing party shall pay all relevant factors, including any material economic differences between the terms of this Lease costs and any comparison lease, such as rent abatements, construction costs, leasing commissions and other concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Fair Market Rental Rate shall also take into consideration any reasonably anticipated changes in the Fair Market Rental Rate from the time such Fair Market Rental Rate is being determined and the time such Fair Market Rental Rate will become effective under this Lease. As part of the determination of Fair Market Rental Rate, the annual increase in said rate for each year of the Extension Period shall also be determinedarbitration.

Options to Extend Term. (a) Provided that Tenant is not in default under this Lease, subject to the terms of this Section 2.04, Landlord hereby grants to Tenant three (3) option(s) (the "Option(s)") shall have four options to extend the Lease Term Term, each for additional period(s) of five (5) years each (the "Extension(s)"). Each Option shall be exercised only by written notice delivered to Landlord not more than three hundred sixty-five (365) days nor less than two hundred and seventy (270) days before the expiration of the Lease Term. If Tenant fails to deliver Landlord written notice of the exercise of an Option within the prescribed time period, such Option and any succeeding Options shall lapse and there shall be no further right to extend the Lease Term. Tenant acknowledges and agrees that time is of the essence in exercising each Option. (b) If Tenant timely and properly exercises an Option hereunder, then said additional a five (5) year Extension period (each, an a "Extension PeriodRenewal Term") immediately following the Term Expiration Date and immediately following the termination of the previous Renewal Term, subject to the following terms. Each Renewal Term shall be under upon the same terms and conditions as provided in this Lease, except those applicable as follows: (i) of the Extension Period shall begin on the day after Term Expiration Date or the expiration date of the original Lease Term or the preceding Extension of the Lease Renewal Term, as applicable, except that: (i) monthly Base Rent for the first year of each Renewal Term shall be equal to the monthly Fair Market Rent as of the beginning of such Renewal Term; and and (ii) annual Base Rent for each year after the first year of the Renewal Term shall be equal to 103% of the annual Base Rent payable by Tenant during such Extension Period shall be determined based on for the Fair Market Rental Rate (as defined in subsection (c) below), which Fair Market Rental Rate shall increase by two percent (2%) on each anniversary date of the Term Commencement Date during such Extension Period (i.e. shall include a two percent (2%) annual escalator). (c) preceding year. For purposes of this Section 2.04the preceding sentence, the "Fair Market Rental Rate" amount of monthly Base Rent payable for the month immediately preceding the beginning of a Renewal Term shall mean the arm's length, fair market annual rental rate per rentable square foot not be reduced to reflect any abatement of rent otherwise applicable under renewal leases and amendments entered into on or about the date on which the Fair Market Rental Rate is being determined hereunder, for space comparable to the Premises (excluding the Tenant Improvements/Equipment) in the same geographic submarket. The determination of Fair Market Rental Rate shall take into account all relevant factors, including any material economic differences between the terms of this Lease (e.g., in the context of damage and destruction), although once the amount of monthly Base Rent applicable as of the beginning of the Renewal Term has been determined, any comparison leasesuch abatement shall continue to impact the amount of Base Rent actually payable to the extent provided under the provisions of this Lease. Tenant shall exercise an option to extend, if at all, by delivery to Landlord of written notice exercising such option no earlier than four hundred fifty (450) days prior to, and no later than three hundred sixty (360) days prior to, the Term Expiration Date or the expiration date of the preceding Renewal Term, as rent abatements, construction costs, leasing commissions and other concessions applicable. Any attempt by Tenant to exercise an option for a Renewal Term shall be deemed ineffective and the manneroption shall be deemed unexercised if: (i) an event of default by Tenant has occurred or is continuing under the Lease, after receipt of notice and expiration of any applicable cure period at the time Tenant notifies Landlord of its intention to exercise the option or on the date the Term or the then current Renewal Term would expire in the absence of the Renewal Term; or (ii) Tenant has subleased the Leased Premises, provided, however, if anyTenant has subleased only a portion of the Leased Premises, the Tenant's option to renew will be effective as to the portion of the Leased Premises that is not subleased. Each option will be deemed waived by Tenant if not exercised in which a timely fashion. Time is of the landlord under any such lease is reimbursed for operating expenses and taxesessence with respect to the time of exercise of each option. The Landlord shall notify Tenant of its determination of Fair Market Rental Rate shall also take into consideration any reasonably anticipated changes in Rent as of the beginning of a Renewal Term by written notice given to Tenant within thirty (30) days after ▇▇▇▇▇▇'s exercise of the option. If Landlord and ▇▇▇▇▇▇ are able to agree on the amount of Fair Market Rental Rate from Rent as of the beginning of a Renewal Term on or before a date that is ninety (90) days after Tenant exercises the option to extend the Term (the "Revocation Date"), then the Term shall be extended by the Renewal Term and the applicable Fair Market Rent shall be the amount so agreed. If Landlord and Tenant for any reason are unable to agree on the amount of Fair Market Rent to be paid as of the beginning of a Renewal Term on or before the Revocation Date, then Tenant's exercise of the option shall be deemed irrevocably withdrawn and rescinded unless Tenant elects to proceed with arbitration pursuant to the provisions of Section 6.09 of the Lease. Tenant shall make such election, if at all, by delivery to Landlord on or before the Revocation Date of written notice stating such election and otherwise complying with the requirements set forth in Section 6.09(a) (“Arbitration Election Notice”). If Tenant fails to timely deliver an Arbitration Election Notice to Landlord by the Revocation Date, ▇▇▇▇▇▇'s prior exercise of the option is irrevocably withdrawn and rescinded. If the option is deemed withdrawn and rescinded pursuant to the foregoing, Tenant shall have no further rights respecting the option, and the Term shall not be extended for the Renewal Term. Time is of the essence with respect to the time such of ▇▇▇▇▇▇'s election to proceed with arbitration. (b) Should Tenant elect to arbitrate and should the arbitration not have been concluded prior to the beginning of the Renewal Term, Tenant shall pay Gross Rent to Landlord after the beginning of the Renewal Term including Base Rent adjusted to reflect the greater of Fair Market Rental Rate is being Rent as Landlord has determined and it or the time such amount of Base Rent applicable immediately prior to the beginning of the Renewal Term. If the amount of Fair Market Rental Rate will become effective under this Lease. As part of Rent as determined by arbitration is greater than or less than Landlord's determination, then any adjustment required to correct the amount previously paid shall be made by payment by the appropriate party to the other within thirty (30) days after such determination of Fair Market Rental Rate, the annual increase in said rate for each year of the Extension Period shall also be determinedRent.

Options to Extend Term. (a) Provided that the Tenant is not in default under this Leaseentitled to do so pursuant to paragraph 2 at the time of its exercise of the applicable option, subject to the terms of this Section 2.04, Landlord hereby grants to Tenant three shall have four (34) option(s) (the "Option(s)") options to extend the Lease Term for additional period(s) a period of five (5) years each (the "Extension(s)"). Each Option shall be exercised only by written notice delivered to Landlord not more than three hundred sixty-five (365) days nor less than two hundred and seventy (270) days before the expiration of the Lease Term. If Tenant fails to deliver Landlord written notice of the exercise of each being an Option within the prescribed time period, such Option and any succeeding Options shall lapse and there shall be no further right to extend the Lease Term. Tenant acknowledges and agrees that time is of the essence in exercising each Option. (b) If Tenant timely and properly exercises an Option hereunder, then said additional five (5) year Extension (each, an "“ Extension Period"”) shall be under on the same terms and conditions as provided are contained in this Lease, except for the amount of Basic Rent and Parking Rent payable, which shall be equal to the then current market basic rent and parking rent for the Premises determined on the basis set out below in this paragraph. (b) Each Extension Period shall commence on the day immediately succeeding the expiry of the initial Term, or the then expiring Extension Period, as the case may be. The Tenant may only exercise an option to extend the Term by each Extension Period by giving notice in writing to the Landlord at least nine (9) months but no greater than twelve (12) months prior to the date on which such Extension Period would commence, failing which the within right to extend will be rendered null and void. (c) Each time that the Tenant exercises its right to extend the Term in accordance with the foregoing, the Term shall automatically be extended for the Extension Period, this Lease will be read as if the original term of the Lease was for a period of time commencing on the Commencement Date and ending on the last day of the relevant Extension Period and the Basic Rent and Parking Rent shall be determined as follows: (i) one hundred and eighty (180) days prior to the commencement of the applicable Extension Period, the Landlord and the Tenant shall commence negotiations to settle the Basic Rent and Parking Rent payable for the upcoming Extension Period. The Basic Rent and Parking Rent for an Extension Period will be the fair market basic rent and parking rent, determined as of the commencement of the Extension Period, that a tenant and a landlord would agree to after negotiating at arm’s length and based upon then existing basic rent and parking rent for such Extension Period shall begin for comparable premises in a similar location in Calgary, Alberta, on the day basis that the Premises are improved to their then existing level, and further taking into account appropriate adjustments for the uses of such comparable premises, and the site coverage ratio and zoning thereof, and whether or not the rents for such comparable premises were negotiated on the basis of such premises being vacant, unimproved, and/or free of trade fixtures and free rent, tenant improvements, and other similar inducements or benefits reflected in the rents for such comparable premises that are given on extensions or renewals (but excluding those given in connection with a new lease); (ii) if the Basic Rent and Parking Rent for the relevant Extension Period have not been mutually agreed upon by the Landlord and the Tenant at least 3 months prior to the commencement of such Extension Period, the Basic Rent and the Parking Rent for such Extension Period will be determined by arbitration by a single arbitrator chosen by the parties, and if they cannot agree upon the arbitrator within 5 days after the expiration written request for arbitration by either party to the other, either party may apply to a judge for the appointment of an arbitrator in accordance with the provisions of the original Lease Term or the preceding Extension Arbitration Act (Alberta). The provisions of the Lease TermArbitration Act (Alberta) will govern the arbitration and the decision of the arbitrator will be final and binding upon the parties. The parties shall instruct the arbitrator to render its decision no later than 15 days prior to the commencement of the relevant Extension Period. If the Basic Rent and the Parking Rent for an Extension Period has not been determined by the commencement of such Extension Period, as applicablethen: (A) the Tenant shall pay Basic Rent and Parking Rent equal to the average of what is being sought by the parties in the arbitration; and (iiB) upon the annual Base Basic Rent payable by Tenant during and Parking Rent for such Extension Period shall being determined, any adjustments in Basic Rent and Parking Rent will be determined based on made effective the Fair Market Rental Rate (as defined in subsection (c) below), which Fair Market Rental Rate shall increase by two percent (2%) on each anniversary date commencement of the Term Commencement Date during such Extension Period (i.e. and shall include a two percent (2%) annual escalator)be paid by the relevant party within 15 days following the date of such determination. Each party is responsible for its own costs in connection with the arbitration and the costs of the arbitrator will be shared equally by the parties. (cd) For purposes The exercise of this Section 2.04, the "Fair Market Rental Rate" shall mean within rights to extend are solely within the arm's length, fair market annual rental rate per rentable square foot under renewal leases and amendments entered into on or about the date on which the Fair Market Rental Rate is being determined hereunder, for space comparable to the Premises (excluding control of the Tenant Improvements/Equipment) and nothing contained in the same geographic submarket. The determination of Fair Market Rental Rate shall take into account all relevant factors, including any material economic differences between the terms of this Lease and any comparison lease, such as rent abatements, construction costs, leasing commissions and other concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Fair Market Rental Rate shall also take into consideration any reasonably anticipated changes in the Fair Market Rental Rate from the time such Fair Market Rental Rate is being determined and the time such Fair Market Rental Rate will become effective under this Lease. As part of , including, without limitation, this Schedule, obligates or requires the determination of Fair Market Rental Rate, Landlord to remind the annual increase in said rate for each year of Tenant to exercise the Extension Period shall also be determinedwithin rights to extend.

Options to Extend Term. (a) Provided that a. Tenant is not in default under this Lease, subject to the terms of this Section 2.04, Landlord hereby grants to Tenant three (3) option(s) (the "Option(s)") shall have two options to extend the term of the Lease Term each for additional period(sa three-year period (an "Option Period") of five (5) years each (with the "Extension(s)"). Each first Option shall be exercised only by written notice delivered to Landlord not more than three hundred sixty-five (365) days nor less than two hundred and seventy (270) days before Period commencing upon the expiration of the initial term of the Lease; provided, however, such options shall be subject to the following conditions: i. At the time each option is exercised, this Lease Termshall be in full force and effect, Tenant shall not be in default hereunder and, as to the second Option Period, Tenant shall have validly exercised its option with respect to the first Option Period. ii. Each option must be exercised by notice given to Landlord not earlier than 12 months and not later than 6 months prior to the then- scheduled expiration of the term of this Lease. b. In the event an option is timely and effectively exercised, the term shall be extended for three additional years, upon all of the terms and conditions of the Lease; provided, however, that the Base Rent shall be the then fair market rental value of the Premises. i. For the purposes hereof, the fair market rental value of the Premises shall be the monthly rental rate per square foot of rentable area then prevailing for comparable improved space (without taking into account the value of improvements made by Tenant at its cost) in Northwestern Alameda County, multiplied by the rentable area of the Premises. If Tenant fails in good faith disputes ▇▇▇▇▇▇▇▇'s determination of fair market rental value, Tenant shall so notify Landlord and the parties shall negotiate in good faith to deliver Landlord written notice of resolve the exercise of an Option dispute. If such dispute is not resolved by negotiation between the parties within the prescribed time period30 days, such Option and any succeeding Options shall lapse and there then fair market rental value shall be no further right to extend the Lease Termdetermined by appraisal. Tenant acknowledges and agrees that time shall pay Base Rent when due based upon Landlord's determination of fair market rental value, subject to retroactive adjustment between the parties if the determination by appraisal is of the essence in exercising each Optiondifferent from Landlord's determination. (b) If Tenant timely and properly exercises an Option hereunderii. When fair market rental value is to be determined by appraisal, then said additional five (5) year Extension (each, an "Extension Period") shall be under the same terms and conditions as provided in this Lease, except as follows: (i) the Extension Period shall begin on the day within 10 days after the expiration of the original Lease Term 30-day negotiation period, Landlord and Tenant shall each appoint as an appraiser, a real estate appraiser with at least ten years of experience in appraising commercial real property in Alameda County, and give notice of such appointment to the other. If either Landlord or the preceding Extension Tenant shall fail to appoint an appraiser within 10 days after receiving notice of the Lease Termidentity of the other party's appointed appraiser, as applicable; and (ii) then the annual Base Rent payable by Tenant during such Extension Period single appraiser appointed shall be determined based the sole appraiser and determine the fair market rental value of the Premises. In the event each party appoints an appraiser, such appraisers shall, within 30 days after the appointment of the last of them to be appointed, complete their determinations of fair market rental value and furnish the same to Landlord and Tenant. If the low appraisal varies from the higher appraisal by 5% or less, the fair market rental value shall be the average of the two valuations. If the low appraisal varies from the high appraisal by more than 5%, the two appraisers shall, within 10 days after submission of the last appraisal report, appoint a third appraiser who shall meet the qualifications set forth in this paragraph. If the two appraisers shall be unable to agree on the Fair Market Rental Rate (as defined selection of a third appraiser in subsection (c) below), which Fair Market Rental Rate shall increase a timely manner then either Landlord or Tenant may request such appointment by two percent (2%) on each anniversary date the presiding judge of the Term Commencement Date during such Extension Period (i.e. Superior Court of Alameda County. The third appraiser, however selected, shall include be a two percent (2%) annual escalator). (c) For purposes person who has not previously acted in any capacity for or against either party. Such third appraiser shall, within 30 days after appointment, make a determination of this Section 2.04, the "Fair Market Rental Rate" shall mean the arm's length, fair market annual rental rate per rentable square foot under renewal leases value and amendments entered into on or about the date on which the Fair Market Rental Rate is being determined hereunder, for space comparable submit an appraisal report to Landlord and Tenant. The fair market rental value of the Premises (excluding shall be as determined by the Tenant Improvements/Equipment) third appraiser, unless it is less than the valuation set forth in the same geographic submarket. The determination of Fair Market Rental Rate shall take into account all relevant factors, including any material economic differences between the terms of this Lease and any comparison lease, such as rent abatements, construction costs, leasing commissions and other concessions and the manner, if anylower appraisal previously obtained, in which case the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Fair Market Rental Rate shall also take into consideration any reasonably anticipated changes valuation set forth in the Fair Market Rental Rate from lower prior appraisal shall be controlling, or unless it is greater than the time such Fair Market Rental Rate is being determined valuation set forth in the higher appraisal previously obtained, in which case the valuation set forth in the higher prior appraisal shall be controlling. All fees and the time such Fair Market Rental Rate will become effective under this Lease. As part of costs incurred in connection with the determination of Fair Market Rental Rate, fair market rental value by appraisal shall be paid one-half by Landlord and one-half by Tenant. Prior to the annual increase in said rate for each year commencement of the Extension Period option period, Tenant and Landlord shall also be determinedexecute an amendment to this Lease setting forth the option period and revised Base Rent.

Options to Extend Term. (a) Provided that Tenant is not in default under this Lease, subject to the terms of this Section 2.04, Landlord hereby grants to Tenant three two options (3) option(s) (the "Option(s)"each an “Extension Option”) to extend the Term of this Lease Term for an additional period(sterm (the “Option Term”) of five (5) years each (upon and subject to the "Extension(s)")terms and conditions set forth in this Section. Each Option The Extension Options shall be exercised only exercised, if at all, consecutively by written notice delivered given to Landlord not more than three hundred sixty-five (365) days nor less than two hundred and seventy nine (2709) days before months prior to the expiration Expiration Date of the Lease Term, in the case of the second Extension Option not less than nine (9) months prior to the Expiration Date of the Term as extended by the first Extension Option. Tenant may exercise the first Extension Option for either all or one-half of the Building, as designated in Tenant’s notice exercising such Extension Option. In the event that Tenant has exercised the first Extension Option for all of the Building, Tenant may exercise the second Extension Option for either all or one-half of the Building, as designated in Tenant’s notice exercising such Extension Option. In the event that Tenant has exercised the first Extension Option for only one-half of the Building Tenant may only exercise the second Extension Option for such one-half of the Building. If Tenant fails to deliver Landlord written notice exercises an Extension Option, each of the exercise terms, covenants and conditions of an this Lease shall apply during the applicable Option within Term as though the prescribed time periodexpiration date of the Option Term was the date originally set forth herein as the Expiration Date of the Term, such provided that (i) the Rent and Additional Charges to be paid during the applicable Option and any succeeding Options Term shall lapse and be ninety five percent (95%) of the Prevailing Market Rental, as hereinafter defined, for the Premises for the applicable Option Term, (ii) the Expiration Date for the Lease shall become the expiration date for the applicable Option Term; (iii) there shall be no further right to extend the Lease Term. Tenant acknowledges additional option terms and agrees that time is (iv) if less than all of the essence in exercising each Building has been leased for any Extension Option. (b) If Tenant timely and properly exercises an Option hereunder, then said additional five (5) year Extension (each, an "Extension Period") the rentable area covered by this Lease shall be under recalculated in accordance with Section 2.1, provided however, that the same terms and conditions as provided in this Lease, except as follows: (i) the Extension Period shall begin on the day after the expiration of the original Lease Term or the preceding Extension of the Lease Term, as applicable; and (ii) the annual Base Rent payable by Tenant during such Extension Period shall be determined based on the Fair Market Rental Rate (as defined in subsection (c) below), which Fair Market Rental Rate shall increase by two percent (2%) on each anniversary date of the Term Commencement Date during such Extension Period (i.e. shall include a two percent (2%) annual escalator). (c) For purposes of this Section 2.04, the "Fair Market Rental Rate" shall mean the arm's length, fair market annual rental rate per rentable square foot under renewal leases and amendments entered into on or about the date on which the Fair Market Rental Rate is being determined hereunder, for space comparable to the Premises (excluding the Tenant Improvements/Equipment) in the same geographic submarket. The determination of Fair Market Rental Rate shall take into account all relevant factors, including any material economic differences between the terms of this Lease and any comparison lease, such as rent abatements, construction costs, leasing commissions and other concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Fair Market Rental Rate shall also take into consideration any reasonably anticipated changes in the Fair Market Rental Rate from the time such Fair Market Rental Rate is being determined and the time such Fair Market Rental Rate will become effective under this Lease. As part of the determination of Fair Market Rental Rate, the annual increase in said rate for each year of the Extension Period shall also be determined.BOMA

Options to Extend Term. (a) Provided that Tenant is not in default under this Lease, subject to the terms of this Section 2.04, Landlord Lessee hereby grants to Tenant three Lessee two (32) option(s) separate options (the "Option(s)Options") to extend the term of this Lease Term for additional period(s) a period of five (5) years each beyond the originally scheduled termination date (each such 5-year period being referred to herein as the "Option Term"). The Option must be exercised, if at all, by written notice (the "Extension(s)Option Notice"). Each Option shall be exercised only ) delivered by written notice delivered Lessee to Landlord Lessor not more later than three hundred sixty-five twelve (36512) days nor less than two hundred and seventy (270) days before months prior to the expiration end of the Lease initial Term or the first Option Term; as applicable. If Tenant fails to deliver Landlord written notice of the exercise of an Option within the prescribed time period, such Option Provided Lessee has properly and any succeeding Options shall lapse and there shall be no further right to extend the Lease Term. Tenant acknowledges and agrees that time is of the essence in exercising each Option.timely (b) If Tenant timely and properly exercises an The monthly Base Rent payable during the first Option hereunder, then said additional five (5) year Extension (each, an "Extension Period") Term shall be under equal to 95% of the same terms fair market rental value of the Premises, and conditions during the Second Option Term shall be equal to 100% of the fair market rental value of the Premises, in each case multiplied by the number of rentable square feet therein, immediately prior to the commencement of the Option Term, as determined herein. Fair market rental value shall be determined as provided in this Lease, except as follows: (i) the Extension Period shall begin on the day after the expiration of the original Lease Term or the preceding Extension of the Lease Term, as applicable; and (ii) the annual Base Rent payable by Tenant during such Extension Period shall be determined based on the Fair Market Rental Rate (as defined in subsection (c) belowSubparagraph 54(c), which Fair Market Rental Rate shall increase by two percent (2%) on each anniversary date of the Term Commencement Date during such Extension Period (i.e. shall include a two percent (2%) annual escalator)below. (c) For purposes of As used in this Section 2.04Lease, the "Fair Market Rental Ratefair market rental value" at any point in time shall mean the arm's length, fair market annual rental rate "effective rate" of monthly rent per rentable square foot under being charged by landlords to non-expansion, non-affiliated and non-renewal leases tenants, at such point in time (i) for office space in Comparable Buildings which is comparable in size, type, location, configuration, quality, view and amendments entered into on or about the date on which the Fair Market Rental Rate is being determined hereunder, for space comparable degree of leasehold improvement to the Premises and (excluding the Tenant Improvements/Equipmentii) in for a lease term of substantially the same geographic submarketduration as the Option Term ("Comparable Leases"). The determination of Fair Market Rental Rate "effective rate" shall take into account all relevant factorsrent or equivalent economic concessions being given, including any material economic differences between tenant improvement allowances (taking into account the terms level and quality of existing tenant improvements in the Premises and in the office space being offered in Comparable Leases, but giving Lessee due credit for the then value of tenant improvements installed in the Premises by Lessee over and above those paid for with the Tenant Improvement Allowance, as defined in Exhibit C) and brokerage commissions. Provided that Lessee shall have properly exercised the Option, Lessor shall provide written notice of its estimate of fair market rental value (the "Estimate") to Lessee not later than six (6) months prior to the commencement of the Option Term. Lessee shall have sixty (60) days ("Lessee's Review Period") after receipt of Lessor's Estimate, within which to accept such Estimate as fair market rental value or to object thereto in writing. In the event Lessee objects to the Estimate submitted by Lessor, Lessor and Lessee shall attempt in good faith to agree upon the fair market rental value. If Lessor and Lessee fail to reach agreement on such fair market rental value within thirty (30) days following Lessee's Review Period (the "Outside Agreement Date"), then each party shall submit its full estimate, and if Lessee's estimate of fair market rental value is within five percent (5%) of the Estimate, the average of the two figures shall be deemed the fair market rental value for purposes of this Lease Paragraph. If Lessor's and any comparison leaseLessee's respective estimates of fair market rental value are not within five percent (5%) of each other, such as rent abatements, construction costs, leasing commissions and other concessions then Lessee's estimate and the manner, if any, Estimate shall be submitted to appraisal in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Fair Market Rental Rate shall also take into consideration any reasonably anticipated changes in the Fair Market Rental Rate from the time such Fair Market Rental Rate is being determined and the time such Fair Market Rental Rate will become effective under this Lease. As part of the determination of Fair Market Rental Rate, the annual increase in said rate for each year of the Extension Period shall also be determinedaccordance with Subparagraph 54(d) below.

Options to Extend Term. (a) Provided that Tenant is not in default under this Lease, subject to the terms of this Section 2.04, Landlord hereby grants to Tenant three two (32) option(s) (the "Option(s)") consecutive options to extend the Lease Term for additional period(s) a period of five (5) years each (the "Extension(s)"). Each Option shall time, each such option to be exercised only by Tenant giving written notice delivered of its exercise to Landlord in the manner provided in this Lease at least ninety (90) days prior to (but not more than three one hundred sixty-five twenty (365120) days nor less than two hundred and seventy (270prior to) days before the expiration of the Lease Term, as it may have been previously extended. If No extension option may be exercised by Tenant fails to deliver Landlord written if an Event of Default has occurred and is then continuing or any facts or circumstances then exist which, with the giving of notice or the passage of time, or both, would constitute an Event of Default either at the time of exercise of the exercise of an Option within option or at the prescribed time period, such Option and any succeeding Options shall lapse and there shall be no further right to extend the Lease Term. Tenant acknowledges and agrees that time is of applicable Term would otherwise have expired if the essence in exercising each Optionapplicable option had not been exercised. (b) If Tenant timely and properly exercises an Option hereunderits option[s] to extend the Term, then said additional Landlord shall, within thirty (30) days after the receipt of Tenant's notice of exercise, notify Tenant in writing of Landlord's reasonable determination of the Base Rent for the Demised Premises for the applicable five (5) year Extension (eachoption period , an "Extension Period") which amount shall be under based on the same terms and conditions as provided in this Lease, except as follows: greater of (i) the Extension Period shall begin on the day after the expiration of the original Lease Term market rate for such space or the preceding Extension of the Lease Term, as applicable; and (ii) the annual Annual Base Rent payable by rate to be in effect immediately prior to the commencement of such option period. Tenant during such Extension Period shall be determined based on have thirty (30) days from its receipt of Landlord's notice to notify Landlord in writing that Tenant does not agree with Landlord's determination of the Fair Base Rent and that Tenant elects to determine the Prevailing Market Rental Rate (as defined in subsection (c) and calculated below). If Tenant does not notify Landlord of such election within thirty (30) days of its receipt of Landlord's notice, which Fair Base Rent for the Demised Premises for the applicable extended term shall be the Base Rent set forth in Landlord's notice to Tenant. The phrase "Prevailing Market Rental Rate shall increase by two percent (2%) on each anniversary date of the Term Commencement Date during such Extension Period (i.e. shall include a two percent (2%) annual escalator). (c) For purposes of this Section 2.04, the "Fair Market Rental Rate" shall mean the arm's length, fair then prevailing market annual rate for base minimum rental rate calculated on a per rentable square foot under renewal basis for leases and amendments entered into on or about the date on which the Fair Market Rental Rate is being determined hereunder, for space covering buildings comparable to the Premises Building (excluding as adjusted for any variances between such buildings and the Building) located in DeSoto County, Mississippi industrial submarket area (hereinafter referred to as the "Market Area"). The Prevailing Market Rate shall be determined by an appraisal procedure as follows: In the event that Tenant Improvements/Equipmentnotifies Landlord that Tenant disagrees with Landlord's determination of the market rate and that Tenant elects to determine the Prevailing Market Rate, then Tenant shall specify, in such notice to Landlord, Tenant's selection of a real estate appraiser who shall act on Tenant's behalf in determining the Prevailing Market Rate. Within twenty (20) days after Landlord's receipt of Tenant's selection of a real estate appraiser, Landlord, by written notice to Tenant, shall designate a real estate appraiser, who shall act on Landlord's behalf in the same geographic submarket. The determination of Fair the Prevailing Market Rental Rate Rate. Within twenty (20) days of the selection of Landlord's appraiser, the two (2) appraisers shall take into account all relevant factors, including any material economic differences between the terms of this Lease and any comparison lease, such as rent abatements, construction costs, leasing commissions and other concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The render a joint written determination of Fair the Prevailing Market Rental Rate Rate, which determination shall also take into consideration any reasonably anticipated changes differences between the Building and those buildings comparable to the Building located in the Fair Market Rental Area, including without limitation age, location, setting and type of building. If the two (2) appraisers are unable to agree upon a joint written determination within said twenty (20) day period, the two appraisers shall select a third appraiser within such twenty (20) day period. Within twenty (20) days after the appointment of the third appraiser, the third appraiser shall render a written determination of the Prevailing Market Rate from the time such Fair Market Rental Rate is being determined and the time such Fair Market Rental Rate will become effective under this Lease. As part of by selecting, without change, the determination of Fair one (1) of the original appraisers as to the Prevailing Market Rental RateRate and such determination shall be final, conclusive and binding. All appraisers selected in accordance with this subparagraph shall have at least ten (10) years prior experience in the commercial leasing market of the Market Area and shall be members of the American Institute of Real Estate Appraisers or similar professional organization. If either Landlord or Tenant fails or refuses to select an appraiser, the annual increase other appraiser shall alone determine the Prevailing Market Rate. Landlord and Tenant agree that they shall be bound by the determination of Prevailing Market Rate pursuant to this paragraph. Landlord shall bear the fee and expenses of its appraiser; Tenant shall bear the fee and expenses of its appraiser; and Landlord and Tenant shall share equally the fee and expenses of the third appraiser, if any. Notwithstanding anything to the contrary contained herein, in said rate for each the event the Prevailing Market Rate as determined herein is less than the Annual Base Rent to be in effect immediately prior to the commencement of such option period, the Base Rent during the applicable extension Term shall equal the Annual Base Rent in effect during the last year of the Extension Period shall also be determinedTerm.

Options to Extend Term. (a) Provided that a. Tenant shall have and is not in default under this Lease, subject to hereby granted the terms of this Section 2.04, Landlord hereby grants to Tenant three (3) option(s) (the "Option(s)") option to extend the Lease Term hereof for additional period(stwo (2) periods of five (5) years each (the "Extension(s)"). Each Option shall be exercised only by written notice delivered to Landlord not more than three hundred sixty-five (365) days nor less than two hundred and seventy (270) days before the expiration of the Lease Term. If Tenant fails to deliver Landlord written notice of the exercise of an Option within the prescribed time period, such Option and any succeeding Options shall lapse and there shall be no further right to extend the Lease Term. Tenant acknowledges and agrees that time is of the essence in exercising each Option. (b) If Tenant timely and properly exercises an Option hereunder, then said additional five (5) year Extension (each, an "Extension Period"), commencing on the date immediately following the Lease Expiration Date or the last day of the first Extension Period, as applicable, provided that: (i) shall be under Tenant delivers written notice (the same "Extension Notice") to Landlord, not more than fifteen (15), or less than twelve (12), months prior to the Lease Expiration Date or the last day of the first Extension Period, as applicable, time being of the essence, of Tenant's irrevocable election to exercise such extension option; (ii) no Event of Default has occurred during the Term (including, if applicable, the first Extension Period) and no event exists at the time of the exercise of such option or arises subsequent thereto, which event by notice and/or the passage of time would constitute an Event of Default if not cured within the applicable cure period; and (iii) Tenant has not assigned its interest in the Lease or sublet more than fifty percent (50%) of the Premises (other than to a Permitted Transferee). b. All terms and conditions as provided in this of the Lease, including without limitation all provisions governing the payment of Additional Rent and annual increases in Annual Base Rent, shall remain in full force and effect during the applicable Extension Period, except as follows: that (i) the Annual Base Rent (on a per rentable square foot basis) payable during each Extension Period shall begin on the day after the expiration of the original Lease Term or the preceding Extension of the Lease Term, as applicable; and (ii) the annual Base Rent payable by Tenant during such Extension Period shall be determined based on equal the Fair Market Rental Rate (as defined in subsection (chereinafter defined) below), which Fair Market Rental Rate shall increase by two percent (2%) on each anniversary date at the time of the Term Commencement Date during such commencement of the applicable Extension Period Period; (i.e. ii) Landlord shall include provide an improvement allowance, rental abatement and other tenant concessions comparable to those concessions then being offered in connection with lease renewals involving comparable space in comparable buildings in downtown Baltimore for a two percent comparable term; and (2%iii) annual escalator). (c) For purposes the "Base Year" for determining Tenant's Pass-Through Costs shall be the calendar year in which occurs the first day of the applicable Extension Period. As used in this Section 2.04Lease, the term "Fair Market Rental Rate" shall mean the arm's length, fair market annual rental rate per rentable square foot under that would be agreed upon between a landlord and a tenant entering into a lease renewal leases for comparable space as to location, configuration, size and amendments entered into on or about use, in a comparable building as to quality, reputation and age which is located in downtown Baltimore with a comparable build-out and a comparable term assuming the date on which following: (A) the Fair Market Rental Rate landlord and tenant are informed and well-advised and each is being determined hereunderacting in what it considers its own best interests; (B) the landlord shall provide an improvement allowance, for space comparable to the Premises (excluding the Tenant Improvements/Equipment) in the same geographic submarket. The determination of Fair Market Rental Rate shall take into account all relevant factors, including any material economic differences between the terms of this Lease and any comparison lease, such as free rent abatements, construction costs, leasing commissions period and other tenant concessions as set forth in subjection (ii), above; and (C) the mannertenant will continue to pay Tenant's Pass-Through Costs using a Base Year as described in subsection (iii), if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Fair Market Rental Rate shall also take into consideration any reasonably anticipated changes in the Fair Market Rental Rate from the time such Fair Market Rental Rate is being determined and the time such Fair Market Rental Rate will become effective under this Lease. As part of the determination of Fair Market Rental Rate, the annual increase in said rate for each year of the Extension Period shall also be determinedabove.