AGREEMENT OF LEASE BETWEEN DUNDEE INDUSTRIAL TWOFER (GP) INC. AND DIRTT ENVIRONMENTAL SOLUTIONS LTD. FOR LEASED PREMISES LOCATED AT Units B, E, F-H, 7504 – 30th Street SE Calgary, Alberta

Exhibit 10.24

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

AGREEMENT OF LEASE

BETWEEN

DUNDEE INDUSTRIAL TWOFER (GP) INC.

AND

DIRTT ENVIRONMENTAL SOLUTIONS LTD.

FOR LEASED PREMISES LOCATED AT

Units B, E, F-H, ▇▇▇▇ – ▇▇^▇▇ ▇▇▇▇▇▇ ▇▇

▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇

AGREEMENT OF LEASE

BASIC TERMS

-END OF TEXT ON THIS PAGE-

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SPECIAL PROVISIONS:

Prior to commencement of any Tenant leasehold improvements, Tenant shall submit all plans, drawings, and specifications to the Landlord for approval.

Tenant shall pay the cost of the design, co-ordination and construction of all leasehold improvements (and any special requirements beyond those existing in the Leased Premises) all in accordance with the provisions of the Lease.

Tenant shall reimburse Landlord for any fees payable by Landlord to Landlord’s architect, engineers and consultants for examination of Tenant’s plans and specifications and for inspection of Tenant’s Work.

All improvements completed by the Tenant shall comply with all applicable building codes.

At Tenant’s request and on its behalf, any work in respect of the Leased Premises to be completed by Landlord, including the construction of Tenant’s Leasehold Improvements and the fixturing of the Leased Premises, Tenant shall pay to Landlord a construction management fee, of 10% of the full contract price, to a maximum of $100,000.00 and 5% of the full contract price, on any amount over and above $100,000.00, excluding the cost of drapery, free-standing furniture, trade fixtures and equipment not in any way affixed or connected to the Leased Premises or to any utility systems. Such fee is entirely separate from any amounts charged by the contractor and is to compensate Landlord for Landlord’s staff time and associated costs to approve plans, to supervise to ensure compliance with approved plans, to attend at site meetings, if necessary, and to provide security and hoisting.

Tenant shall have the right to extend the Term of the Lease for a further 5 years upon the same terms and conditions as contained in the Lease except as otherwise expressly provided therein and except that there shall be no further right of extension or renewal, no rent concessions, no Landlord’s Work required, no fixturing period and no tenant allowance or any other amount payable by Landlord to Tenant, the rates for any storage space and/or parking spaces used by Tenant shall be the Landlord’s then applicable rates and annual Basic Rent shall be equal to:

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If Landlord so elects, Tenant shall execute Landlord’s then current form of lease amending agreement or lease, as determined by Landlord, to give effect to such extension of the Term.

The parties acknowledge that Tenant occupied the Leased Premises prior to the Commencement Date under a lease dated October 5, 2009 (the “Prior Lease”). The parties agree that the Prior Lease shall terminate and be of no further force or effect on the date (the “Termination Date”) which is the day before the Commencement Date, except that Tenant shall remain liable for the payment of rents and other amounts accruing due thereunder and for the performance of its covenants thereunder up to and including the Termination Date. Any breach of the Prior Lease by Tenant which has not been cured shall, after the Termination Date, be enforceable by Landlord in accordance with all applicable provisions of the Prior Lease. Tenant hereby represents and warrants that it has the full power and authority to surrender the Prior Lease and that it has not done any act whereby any part of its right, title and interest as tenant under the Prior Lease, in the Leased Premises demised by the Prior Lease, and the unexpired residue of the said term is, has been or may be in any way assigned, transferred, charged, encumbered or otherwise disposed of in whole or in part.

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TABLE OF CONTENTS

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LIST OF SCHEDULES

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THIS LEASE is dated the 5^th day of November 2013 and is made between

DUNDEE INDUSTRIAL TWOFER (GP) INC.

(the “Landlord”)

-and-

DIRTT ENVIRONMENTAL SOLUTIONS LTD.

(the “Tenant”)

DEFINITIONS

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(i) the Tenant or a Person carrying on business in any part of the Leased Premises, or an Indemnlfier becomes bankrupt or insolvent or avails itself of the benefit of any statute respecting insolvency or bankruptcy or makes any proposal, assignment or arrangement with its creditors; (ii) a receiver or manager is appointed for all or any part of the property of the Tenant or of another Person carrying on business in the Leased Premises, or of an Indemnlfier or any of the Tenant’s assets are taken or seized under a writ of execution, assignment, charge or other security instrument; (iii) steps are taken for the dissolution, winding up or other termination of the Tenant’s or the Indemnifler’s existence or for the liquidation of their respective assets; (iv) the Tenant or the Indemnlfier makes or attempts to make a bulk sale of assets regardless of where they are situated; (v) the Tenant abandons or attempts to abandon the Leased Premises; or (vi) the Tenant effects or attempts a Transfer that is not permitted under this Lease.

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a) security personnel and systems; b) electricity, fuel, (other than where these utilities are separately metered and consumed by tenants), water (including sewer rental) and other utilities and taxes; c) all premiums and deductibles relating to liability, property, boiler or pressure vessel and machinery, loss of rental, environmental and such other forms of insurance as the Landlord may from time to time maintain with respect to either (i) the Lands and Building or (ii) the Park; d) cleaning, supervising, maintaining, operating and repairing either (i) the Lands and Building or (ii) any land or building within the Park and making replacements therein; e) roof repairs and maintenance of a non-structural nature; f) supplies necessary for the operation of the Building; g) an amount determined by the Landlord, acting reasonably, to be included in a reserve fund established towards the replacement of any part of the Building or building systems or any part of any building or building systems located within the Park; h) cleaning exterior curtain walls; maintaining and painting the exterior surface of garage doors and back exit doors as well as repairing and maintaining the staircases and access ladders giving access to back exit doors and roof; i) cleaning and maintaining the grounds (including snow removal and landscaping); j) any service contracts with independent contractors for maintenance, repairs, replacement and security operations. Without limiting the generality of the foregoing, such contracts shall include those taken out for HVAC systems and life safety systems; k) audit, accounting, legal and other professional and consulting fees and disbursements incurred; I) water and business taxes (except as charged to tenants), licenses and fees; and m) salaries, wages and benefits, uniforms, cost of vehicles’ leases and operation and communication devices for all personnel (whether on or off-site and whether employed by the Landlord or a management company) engaged in the operation, management, maintenance and repair and accounting services provided in respect of the Lands and Building or, at the Landlord’s option, the Park.

Operating Costs will be calculated as if the Building were fully leased and occupied and will not include, or there will be deducted from Operating Costs: (i) net proceeds of insurances received by the Landlord from its insurers, to the extent that the proceeds relate to costs previously included in Operating Costs; (ii) tenant improvements, tenant allowances and leasing commissions; (iii) income taxes (Business Taxes and Capital Taxes are not considered as income taxes); (iv) interest

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GRANT

The Landlord leases to the Tenant, and the Tenant leases from the Landlord, the Leased Premises, to have and to hold for the Term, unless sooner terminated by the Landlord pursuant to the Lease.

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The Tenant has the non-exclusive and non-transferable right (except in accordance with Article 7) to use the Common Elements for the purposes for which they are intended, subject to this Lease.

If the Tenant performs its obligations under this Lease, it may hold and use the Leased Premises without interference by the Landlord or any other person claiming through the Landlord subject to this Lease.

The Basic Terms shall form an integral part of this Lease as though they were set forth herein in full.

CONDITION OF THE LEASED PREMISES

The Tenant shall accept the Leased Premises in the condition described in Paragraph #5 of the Basic Terms. The Leased Premises (including all building systems) and Landlord’s Work, if any, will be conclusively deemed to be in good order and to the Tenant’s satisfaction, subject only to latent defects and to those deficiencies (if any) listed in writing in a notice delivered by the Tenant to the Landlord during the prepossession inspection to be carried out by the Landlord and the Tenant together on or before the date of Tenant taking possession.

All Alterations in and to the Leased Premises (other than the Landlord’s Work if any) shall be the responsibility of the Tenant and shall be performed at the Tenant’s sole cost and expense, the whole subject to the terms and conditions hereinafter set forth.

The Tenant acknowledges that if there is a delay which results in any part of the Leased Premises or the Landlord’s Work not being completed on schedule, the Landlord will not be responsible for any expenses or losses incurred as a result of the delay, even if caused or contributed to by the acts, omissions or negligence of the Landlord.

TENANT’S COVENANTS

The Tenant will pay to the Landlord, without demand, abatement or set-off, the Base Rent, calculated in accordance with Paragraph #7 of the Basic Terms, payable in

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advance in equal monthly installments, beginning on the Commencement Date and thereafter on the first day of every month of the Term.

The Tenant will pay its Proportionate Share of Realty Taxes as Additional Rent, in the manner set forth in this Lease. The Tenant shall not appeal Realty Taxes.

Whether or not there is a separate ▇▇▇▇ for Realty Taxes charged against the Leased Premises or a separate assessment, the Realty Taxes charged against the Leased Premises shall be determined by the Landlord acting reasonably, the cost of making such determination to be included in Realty Taxes. In making such determination the Landlord shall have the right, without limiting its right to do otherwise, to establish separate assessments for the Leased Premises and all other portions of the Property by using such criteria as the Landlord, acting reasonably, shall determine to be relevant including, without limitation:

The Tenant shall deliver to the Landlord forthwith upon the Tenant’s receiving the same copies of all assessment notices, tax bills, receipts and other documents received by Tenant relating to Realty Taxes on the Leased Premises or the Property.

The Landlord may contest any Realty Taxes and appeal any assessments related thereto and may withdraw any such contest or appeal or may agree with the relevant authorities on any settlement in respect thereof. The Tenant will co-operate with the Landlord in respect of any such contest and appeal and shall provide to the Landlord such information and execute such documents as the Landlord requests to give full effect to the foregoing. All costs of any such contest and appeal by the Landlord shall be included in Realty Taxes.

The Tenant will pay its Proportionate Share of Capital Tax as Additional Rent, in the manner set forth in this Lease.

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The Tenant will also promptly pay all Business Taxes for the Leased Premises: (i) to the taxing authorities and, in such case, the Tenant will, on the Landlord’s request, promptly deliver to the Landlord receipts for payment of all its Business Taxes and any assessments or other information related to Business Taxes or (ii) at the Landlord’s option, to the Landlord or as the Landlord directs. If a separate ▇▇▇▇ is not issued by the relevant authority for Business Taxes for the Leased Premises, the Tenant will pay its Proportionate Share of Business Taxes for the Building and same shall then be considered as Additional Rent. (This paragraph does not apply in Ontario)

The Tenant will pay to the Landlord its Proportionate Share of Operating Costs as Additional Rent, in the manner set forth in this Lease.

The Tenant will also pay directly to the suppliers, before delinquency, any Utilities separately metered to the Leased Premises which are billed directly to the Tenant by the supplier. The Tenant shall not enter into any arrangement with any independent Utility supplier without the prior written approval of the Landlord. The Landlord will have the right to approve such arrangements, acting reasonably, and the Tenant will provide to the Landlord a copy of all Utility supply contracts entered into by the Tenant. The Landlord has no liability or responsibility for providing a means of access to any Utility supplier but shall be free to exercise its own discretion in that regard in the best interests of the Building including the right to charge a fee for such access and to cover any costs incurred by the Landlord in connection therewith. The Tenant will keep current on all of its obligations to any independent Utility supplier with which it contracts directly for its own supply of any Utilities.

The Tenant will pay to the Landlord a Utilities Charge for the supply and the use of (i) any excess Utilities consumed in the Leased Premises and (ii) any Utilities if separate meters are not installed, or if the Landlord elects to supply any Utility used or consumed in the Leased Premises. The Landlord will determine the Utilities Charges on an equitable basis. The Tenant will pay the Utilities Charge to the Landlord as Additional Rent within ten (10) days after the delivery of a statement by the Landlord and same shall then be considered as Additional Rent.

The Tenant will pay the Management Fee as Additional Rent, in the manner set forth in this Lease.

The Landlord shall estimate the amount of the Additional Rent payable by the Tenant at the commencement of each Lease Year, or fraction of a Lease Year within the Term. The Tenant shall pay to the Landlord the Additional Rent in equal monthly installments in advance throughout the period for which the estimate is made. The Landlord may periodically revise its estimates and notify the Tenant of the revised estimates, and the Tenant’s monthly payments will be adjusted accordingly.

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Within 120 days after the end of a Lease Year and upon a reasonable period of time after the expiry of the Lease, the Landlord will provide to the Tenant a statement of the actual amounts payable by the Tenant, showing in reasonable detail the determination of the costs and the calculation of the Tenant’s payment (the “Statement”). Any amounts owing by the Tenant to the Landlord will be paid within thirty (30) days after the date of delivery of the Statement by the Landlord. Provided the Tenant is not in default under this Lease, any amounts owing by the Landlord to the Tenant will be credited to the Tenant’s account, without interest.

The Landlord shall, within ten (10) days of the Tenant’s request, provide reasonable access to the Tenant or the Tenant’s accountants or auditors to its books and records with respect to Operating Costs and Realty Taxes for examination by them, at the Tenant’s cost, at the Landlord’s office or offices where such records and books are kept. Notwithstanding the Tenant’s right to question, it shall continue to pay the Rent as and when due.

The Tenant shall not be entitled to dispute the accuracy of any statement provided by the Landlord in accordance with the foregoing or claim any reimbursement or adjustment in respect of Additional Rent owing for a Lease Year after the expiry of six (6) months from the date of receipt by the Tenant of the Landlord’s statement for such Lease Year.

The Landlord may from time to time, as it deems necessary, cause the Leasable Area of the Leased Premises, the Building, the Park or any part thereof to be recalculated or re-measured and the cost thereof shall be included in Operating Costs (except as otherwise provided in this section 4.3). If the initial certification of the Leasable Area of the Leased Premises does not occur until after the Commencement Date, then Rent will be adjusted retroactively as calculated by the Landlord. Thereafter, if any calculation or determination by the Landlord of the leasable area of any premises (including the Leased Premises) is disputed, it shall be calculated or determined by the Landlord’s consultant from time to time appointed for that purpose, whose certificate shall be conclusive and binding upon the parties hereto. The cost of such calculation or determination shall be included in Operating Costs; provided that if the Tenant disputed the Landlord’s calculation or determination and the calculation or determination by the Landlord’s consultant agrees with the Landlord’s calculation or determination within a two percent variance, the Tenant shall pay the full cost of such calculation or determination forthwith upon demand.

If any error shall be found in the Leasable Area of the Leased Premises or in the calculation of the Tenant’s Proportionate Share, Rent shall be adjusted for the Lease Year in which that error is discovered, if any, and thereafter but not for any prior period.

The Tenant agrees to make payments of all Rent payable pursuant this Lease in the manner described in Paragraph #9 of the Basic Terms. Rent is payable in Canadian funds without any deduction, abatement or set-off. Rent payable to the Landlord will be paid to the address set out in Paragraph #1 of the Basic Terms or at any other place which the Landlord designates in writing. Rent for any fractional month at the beginning or end of the Term will be pro-rated on a daily basis using a period of 365

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days. If the Tenant defaults in paying Rent, the unpaid Rent bears interest at the Stipulated Rate from the due date to the actual date of payment. Interest as aforesaid shall be deemed to be Rent hereunder.

The Tenant will operate its business in the Leased Premises only for the use set out in Paragraph #11 of the Basic Terms and for no other purpose. The Tenant shall satisfy itself that such use is permissible pursuant to all applicable zoning and other municipal laws and regulations. The Tenant shall also be solely responsible for obtaining its own occupancy permit.

In the conduct of the Tenant’s business, the Tenant will:

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The Tenant will promptly comply, at its expense, with all governmental requirements from time to time in effect relating to its ability to enter into and comply with this Lease or which pertain to the Leased Premises, the Tenant’s use of the Leased Premises, the conduct of business in the Leased Premises, or the doing of work in the Leased Premises. Without limiting the generality of the foregoing, the Tenant shall also comply, at its expense, with any federal, provincial or municipal laws, by-laws or regulations applicable to workers’ health and safety in the Leased Premises. The Tenant is not required, however, to remedy work done by the Landlord in contravention of any law. The Tenant will comply with any energy conservation measures required by the Landlord.

Throughout the term of this Lease, the Tenant shall take out and keep in force:

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Each policy of insurance will name, as insured, the Tenant and the Released Persons, each as their respective interests may appear. If there is a dispute as to the full replacement cost, the Landlord or its Mortgagee will determine it. The policies specified under subparagraphs b) and c) will contain the Mortgagee’s standard mortgage clause and may have reasonable deductibles. The policies (other than the Tenant’s liability policy) will contain a waiver of any subrogation rights which the Tenant’s insurers may have against the Released Persons and those for whom any of them is in law responsible, whether or not any loss or damage is caused or contributed to by the act, omission or negligence of any of them. All policies will (i) be non-contributing and apply only as primary and not excess to any other insurance available to any of the Released Persons; (ii) not be invalidated (in relation to the interests of any of the Released Persons) by reason of any breach of warranties, representations, declarations or conditions in the policies; and (iii) contain an undertaking by the insurers to notify the Landlord and each Mortgagee in writing not less than thirty (30) days before any material change, cancellation or termination.

Prior to taking possession of the Leased Premises and on every renewal date of the insurance policy, the Tenant will deliver certificates of insurance executed by the Tenant’s insurers. No review or approval of any insurance policy or certificate by the Landlord will in any way alter the Landlord rights under this Lease. In the event of loss or damage, the Tenant will provide the Landlord or the Mortgagee with copies of the Tenant’s insurance policies.

The Tenant will not allow anything to occur that results in (i) an increase in premiums for any insurance carried by the Landlord or (ii) the cancellation or threatened cancellation or a reduction of coverage under any of the Landlord’s insurance policies in respect of any part of the Building.

Except to the extent of its proven gross negligence or willful misconduct, none of the Released Persons, is liable for any death or injury from any occurrence in, or relating to any part of the Building Lands or Park or for any damage to or loss of (or loss of use of) property of the Tenant or of others wherever located and however caused, including any failure in the supply of any services or Utilities, the existence of any Hazardous Substances or the exercise by the Landlord of any of its rights under this Lease.

Unless arising from the proven gross negligence or willful misconduct of that Released Person, the Tenant will indemnify the Released Persons and hold them harmless from and against all insured and uninsured losses, liabilities, damages, claims, demands, expenses and actions (including, without limitation, all claims for loss of life, personal injury, damage to property or any other loss, injury or claim excluding consequential loss or damage) arising from a default of any of the Tenant’s obligations under this Lease, or from any occurrence in or relating to the Leased Premises, the Property or the Park, or from the occupancy or use by the Tenant of all or any part of the Leased Premises, the Property or the Park, or occasioned wholly or in part by an act or omission of the Tenant or those for whom the Tenant is legally responsible or by anyone permitted to be on the Leased Premises, the Property or the Park by the Tenant, and against and from all reasonable costs, expenses and liabilities incurred in or arising or resulting from any such claim or action or

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proceeding brought thereon (such as, without limitation, legal fees and disbursements).

The Tenant will keep the Leased Premises and all the improvements, fixtures and equipment in the Leased Premises which are not part of the Common Elements in a good condition and state of repair, subject to reasonable wear and tear. The Landlord shall have the right at all reasonable times and upon prior reasonable notice, to examine the condition of the Leased Premises and notify the Tenant of deficiencies and the Tenant shall make good any deficiencies for which it is responsible within fifteen (15) days from the date of such notice.

The Tenant shall use the HVAC System in and for the exclusive use of the Leased Premises. The Tenant shall operate, at its expense, all portions of the HVAC System to the satisfaction of the Landlord. The Tenant will maintain the temperature in the Leased Premises at a reasonable standard of comfort for normal occupancy at all times.

The Landlord will be responsible for the maintenance, repair and replacement of HVAC units, the cost of which shall be included in the Operating Costs.

The Tenant will not make any Alterations to the Leased Premises without the Landlord’s prior written approval, which will not be unreasonably withheld if: (i) the Alterations meet or exceed the then current standard for the Building; (ii) adequate plans and specifications are produced; and (iii) the Tenant has obtained all requisite governmental approvals. If the Landlord agrees to effect Alterations at the Tenant’s request, the Tenant will pay to the Landlord, on demand, all costs incurred by the Landlord in connection with the performance of such work and supervision of any Alterations, including architectural and engineering consultant’s fees, plus the Supervision Fee calculated on the cost of the Alterations on account of the Landlord’s overhead and administration costs. The Tenant shall ensure that the changes required by the Landlord to such plans and specifications are incorporated therein and the Tenant shall then resubmit them to the Landlord for approval. The Tenant shall pay, as Additional Rent, within thirty (30) days following the receipt of an invoice from the Landlord, all of the costs incurred by the Landlord for the analysis and approval of the plans and specifications as well as the Supervision Fee calculated on the cost of the Alterations.

All Alterations will be performed: (i) by competent workers whose labor union affiliations are compatible with others employed by the Landlord and its contractors; (ii) in a good and skillful manner; (iii) in accordance with the approved plans and specifications and the Landlord’s reasonable requirements and (iv) builders risk insurance covering all work against all risks of physical loss or damage.

The Landlord may require that any maintenance of or Alterations to the Leased Premises be performed by the Landlord at the Tenant’s cost if they affect: (i) the structure of the Leased Premises, (ii) the Common Elements; or (iii) any part of the Building outside the Leased Premises. The Tenant will pay to the Landlord, on demand, the Landlord’s costs of the maintenance or Alterations, including architectural and engineering consultants’ fees, plus the Supervision Fee.

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If any part of the Building requires repairs, replacement or alteration because of anything done or omitted to be done by the Tenant or its officers, directors, agents, employees, contractors, invitees or licensees then the Tenant will pay to the Landlord, on demand, the Landlord’s cost of repairs, replacements or alterations, plus a Supervision Fee calculated on said costs.

The Tenant shall not be entitled to install upon the roof of the Building any equipment except as consented to in writing by the Landlord, which consent may be arbitrarily withheld, but if given shall be subject to whatever conditions the Landlord, In its sole discretion, deems necessary in the circumstances.

The Tenant covenants to indemnify the Landlord against and from all losses, costs, claims and demands in respect of any injury or damage caused by or resulting from any work under Article 4.13 of this Lease.

All Alterations, which exclude the Tenant’s trade fixtures, are the property of the Landlord. The Tenant will not, unless authorized by the Landlord, remove any Alterations from the Leased Premises at any time prior to the expiry or earlier termination of this Lease. At that time, the Tenant will, at its own expense:

The Tenant will repair any damage caused to any part of the Building by such removal. Furthermore, the Tenant will replace any damaged ceiling tiles and burnt light bulbs, will make sure that the lighting system (including, without limitation, light bulbs, starters, ballasts and neon lights), electrical system (including, without limitation, the electrical panel) plumbing system (including, without limitation, all toilets and sinks) and overhead doors (to the extent provided for in Section 5.3 hereof) are in good working order and will leave the Leased Premises in a clean, broom swept condition and free of all rubbish. At the expiry or termination of this Lease, the Tenant will also deliver all keys and security cards for the Leased Premises to the Landlord.

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expense and the Tenant shall pay for the electricity consumed by such sign. If the electricity consumption for any of the Tenant’s signs is not separately metered, the Tenant shall pay, on demand, such portion of the cost of such electricity as is equitably apportioned to the Leased Premises by the Landlord. At the expiration or earlier termination of this Lease, the Tenant will remove any such sign from the Leased Premises at its expense and will promptly repair all damage caused by its installation or removal.

If a free-standing pylon sign exists on the Lands and there is available space, the Tenant may, at its cost and subject to the Landlord’s prior authorization and compliance by the Tenant with the requirements of all governmental authorities and the Landlord’s sign criteria for the Building, place a standard sign on such pylon in such location and of such reasonable size as specified in writing by the Landlord. The Tenant shall pay the monthly fee set out in Paragraph #14 of the Basic Terms towards the maintenance and operation of the pylon sign.

LANDLORD’S COVENANTS

The Landlord will pay Realty Taxes subject to the obligation of the Tenant to pay its Proportionate Share thereof. However, the Landlord may defer payment of Realty Taxes, or defer compliance with laws in connection with the levying of Realty Taxes, to the extent legally permitted, if it diligently prosecutes a contest or appeal of the Realty Taxes.

The Landlord will maintain: (a) all risks (broad form) insurance on the Building (excluding the foundations, excavations and any property of the Tenant or any other persons on the Leased Premises); (b) public liability and property damage insurance with respect to the Landlord’s operations in the Building; and (c) whatever other forms of insurance the Landlord or the Mortgagee reasonably consider advisable. The Landlord’s insurance will be in those reasonable amounts and with those reasonable deductibles that a prudent owner of a similar building would maintain, having regard to size, age and location. Notwithstanding the Landlord’s covenant contained in this Article 5.2 and notwithstanding any contribution by the Tenant to the cost of the Landlord’s insurance premiums as part of Operating Costs or otherwise, the Tenant agrees that (i) the Tenant is not relieved of any liability arising from or contributed to by its acts, fault, negligence or omissions; (ii) no insurable interest is conferred on the Tenant under any policies of insurance carried by the Landlord and (iii) the Tenant has no right to receive any proceeds of any such insurance policies carried by the Landlord.

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Subject to Article 6, the Landlord will maintain and repair the Common Elements as would a prudent owner of a similar industrial building, having regard to size, age and location, subject to the following exceptions: (a) any occurrence not covered by insurance required to be maintained by the Landlord under this Lease, or where the cost of repair exceeds the insurance proceeds actually received by the Landlord (not taking into account deductibles); (b) normal wear and tear, and (c) damage or injury caused by or to the extent contributed to by anything done or omitted to be done by or the negligence of the Tenant or those for whom it is legally responsible.

In the case of sub-paragraph (c) above, but subject to Article 6, the Landlord shall repair and the cost thereof plus the Supervision Fee shall be charged to the Tenant and shall be payable by the Tenant to the Landlord upon demand.

The Landlord shall maintain and repair the HVAC System serving the Leased Premises and the cost thereof shall be included in Operating Costs.

The Landlord shall maintain and repair all pedestrian and garage doors in the loading dock area and such costs shall be included in Operating Costs. Notwithstanding the foregoing, Landlord shall not be responsible for damages caused by the willful misconduct or negligence of the Tenant or those for whom it is responsible at law and the Tenant will remain responsible to maintain and repair opening and closing mechanisms (such as, by way of example, locks and automatic door openers and dock levelers).

At any time prior to the Commencement Date and from time to time prior to the expiration of the Lease, the Landlord may substitute for the Leased Premises other space (hereafter called “Substitute Premises”) located within the Building or the Park. Insofar as reasonably possible, the Substitute Premises shall be comparable and substantially similar to the Leased Premises as to square footage, configuration, celling height, loading docks and stage area (if applicable) and located within a reasonable distance from the Leased Premises and the following shall apply:

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The Landlord shall give the Tenant at least ninety (90) days prior written notice of its intention to relocate the Tenant to the Substitute Premises.

The Landlord agrees to construct, at its own expense, the Substitute Premises as expeditiously as possible so that they are in substantially the same state that the Leased Premises were in immediately prior to the relocation. The Landlord shall have the right to reuse the fixtures, improvements, and Alterations used in the Leased Premises. The Tenant agrees to occupy the Substitute Premises after the Landlord’s work has been substantially completed.

The Landlord will reimburse the Tenant for: (i) the Tenant’s reasonable moving costs and the cost of installing permanent improvements (as distinguished from trade fixtures, equipment, furniture, furnishings and other personal property belonging to the Tenant) in the Substitute Premises, so that the permanent improvements therein are substantially the same as those in the Leased Premises; and (ii) the Tenant’s reasonable costs incurred in changing addresses on stationery, business cards and advertising, which shall be reimbursed to the Tenant by the Landlord upon presentation to the Landlord of paid bills for said incurred indirect costs.

Subject to paragraph (e) below, the Tenant agrees that all of the obligations of this Lease, including the payment of Rent, will continue despite the Tenant’s relocation to the Substitute Premises. Upon substantial completion of the Substitute Premises, this Lease will apply to the Substitute Premises as if it had been the space originally described in the Lease.

The Landlord shall use its commercially reasonable efforts to minimize any period when the Leased Premises shall be closed as a result of relocation.

Except as provided above, the Landlord shall not be liable or responsible in any way for damages or injuries suffered by the Tenant pursuant to a relocation in accordance with this provision including, but not limited to, loss of good-will, business, or profits.

It is not a re-entry or a breach of quiet enjoyment if the Landlord enters the Leased Premises at reasonable times after reasonable written notice (but if the Landlord determines there is an emergency, no notice is required): (i) to examine the Leased Premises, including an examination to ensure that there are no Hazardous Substances present and there are appropriate safeguards in place to avoid the existence of any Hazardous Substances; (ii) to make permitted or required repairs, alterations, improvements or additions to the Leased Premises or the Building; or

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(iii) to show them to prospective purchasers, tenants or Mortgagees, in each case (to the extent reasonably possible in the circumstances) without unreasonably interfering with the Tenant’s business operations in the Leased Premises. The Landlord may take material onto the Leased Premises for these purposes. Rent will not ▇▇▇▇▇ or be reduced while the repairs, alterations, improvements or additions are being made. During the 6 months prior to the expiry of the Term, the Landlord may place upon the Leased Premises “For Rent” notices of reasonable size and in reasonable locations.

DAMAGE AND DESTRUCTION AND EXPROPRIATION

The Landlord and the Tenant agree that, if during the Term, the Building or the Leased Premises are damaged or destroyed by fire, lightning or any other peril in connection with which the Landlord is insured in relation to the Building (hereinafter called “Damage”) and such Damage, in the opinion of the Landlord acting reasonably, renders the Leased Premises or the Building:

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Damage, the Landlord shall have the right to terminate this Lease upon sixty (60) days notice to the Tenant following the date of Damage and the Tenant shall have no claim against the Landlord as a result of the early termination. The Landlord’s notice shall be accompanied by a certificate of the Landlord’s duly qualified architect or engineer, certifying that in the opinion of such architect or engineer the cost of making repairs would be in excess of seventy per cent (70%) of the full replacement cost of the Leased Premises or the said Building at the date of Damage;

If the Leased Premises, the Building or the Lands are expropriated by a governmental authority in a material or substantial manner, the Landlord shall have the right to terminate this Lease upon at least thirty (30) days notice to the Tenant, all Rent will ▇▇▇▇▇ as of the effective date of the notice, and the Tenant will have no claim against the Landlord as a result of the early termination of this Lease.

TRANSFERS BY TENANT AND SALE AND FINANCING BY THE LANDLORD

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This section does not apply to a Transfer that occurs on the death of the Transferor, or a Transfer described in paragraph (c) of the definition of “Transfer”, where the Tenant occupies all of the Leased Premises and is either (A) a Public Corporation, or (B) a subsidiary body corporate (as currently defined under the Canada Business Corporations Act) of a Public Corporation and the shares of the Public Corporation (and not of the Tenant) are transferred or issued. The Tenant will nevertheless notify the Landlord if any exempt Transfer takes place.

The following conditions apply to Transfers and to consents given by the Landlord: (a) the Landlord’s consent is not a waiver of the requirements for consent for subsequent Transfers; (b) the Transferor will remain liable for the Tenant’s obligations and indemnify the Landlord against the Transferee’s failure to perform the Tenant’s obligations after the Transfer; (c) the Transferee will execute an agreement directly with the Landlord agreeing to be bound by this Lease as a Tenant; (d) the Landlord may apply amounts collected from the Transferee to any unpaid rent; (e) once the Landlord’s consent is given, the Transfer must take place

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within sixty (60) days or the consent will expire and the Transfer may not take place unless the Tenant again complies with Article 7 and (f) the Tenant will reimburse any out of pocket expenses incurred by the Landlord during its review of the Tenant’s request for a Transfer, including legal costs on a solicitor-and-own-client basis and, in addition, will pay to the Landlord reasonable fees for the preparation of the legal documentation evidencing the Landlord’s consent to the Transfer.

If the Landlord transfers or disposes of any part of the Building or the Lands or all or part of the Landlord’s interest under this Lease, then to the extent that the transferee or disposee agrees with the Landlord to assume the Landlord’s obligations under this Lease, the Landlord will be released from them, except for the existing defaults as of the date of the transfer or disposition.

This Lease is subordinate to every existing and future mortgage, charge, trust deed, financing, refinancing or collateral financing against the Leased Premises or the Building and any renewals or extensions of or advances under them (collectively “Encumbrances”). The Tenant will, on request, attorn to and recognize as landlord the holder of any such Encumbrances or any transferee or disposee of the Building or of an ownership or equity interest in the Building. The Tenant shall not unduly delay the signing and delivery of any reasonably requested postponement, subordination or attornment document.

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Within ten (10) days after the request, the Tenant will sign and deliver to the Landlord or to any Person with or proposing to take an interest in all or part of the Building, a status statement or certificate stating that this Lease is in full force and effect, any modification to this Lease, the commencement and expiry dates of this Lease, the date to which Rent has been paid, the amount of any Pre-Paid Rent or Deposit, listing any alleged existing defaults by the Landlord or set-offs by the Tenant and the particulars thereof and any other information reasonably required by the Person requesting the certificate.

DEFAULT

Upon termination, the Tenant will promptly (and in any case within ten (10) days after written notice requiring it to do so) remove all of its property from the Leased Premises, or the Landlord may at any time remove all or part of the property from the Leased Premises and store it in a public warehouse or elsewhere at the cost of the Tenant. Despite anything to the contrary, the Landlord will not be responsible for loss or damage to any of the Tenant’s property regardless of how the loss or damage is caused, even if by negligence. If the Tenant fails to remove its property as required, or if it fails to pay the Landlord’s costs of removal and storage within ten (10) days after written notice specifying those costs, the Tenant will be considered to have abandoned its property and the Landlord will be entitled to remove it at the Tenant’s cost or retain or sell or dispose of it for the Landlord’s own benefit.

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If the Tenant defaults in the payment of money that is required under this Lease to be paid to a third party, the Landlord may, after five (5) days’ notice to the Tenant, pay all or part of the amount payable. If the Tenant otherwise defaults under this Lease the Landlord may give the Tenant at least ten (10) days’ prior notice (except that no notice will be required in an emergency) and if the Tenant does not, within such a period, commence diligently and then proceed diligently to cure the default, the Landlord may perform or cause to be performed all or part of what the Tenant failed to perform. Then Tenant will pay to the Landlord on demand, the Landlord’s expenses incurred under this Section 8.2, plus the Supervision Fee.

The Landlord may apply amounts received from or due to the Tenant against amounts due and payable under this Lease, even if otherwise requested by the Tenant, unless the Tenant can satisfactorily demonstrate to the Landlord, acting reasonably, that an account is in fact not due and payable. Payment by the Tenant or receipt by the Landlord of less than the required monthly payment of Rent is on account of the earliest stipulated Rent. An endorsement or statement on a cheque or letter accompanying a cheque or payment as Rent is not an acknowledgment of full payment, and the Landlord may accept and cash the cheque or payment without prejudice to its right to recover the balance of the Rent or pursue its other remedies.

The remedies under this Lease are cumulative and may be exercised independently or in combination with others. No remedy is exclusive or dependant on any other remedy. The specifying or use of a remedy under this Lease does not limit rights to use other remedies available at law generally. The Tenant agrees that any breach by the Landlord under this Lease can be adequately compensated in damages.

Notwithstanding any statute now or hereafter in force limiting or abrogating the right of distress, none of the Tenant’s goods, chattels or trade fixtures on the Leased Premises at any time during the continuance of the Term shall be exempt from levy by distress for Rent in arrears, whether at that time on or off of the Leased Premises and, upon any claim being made for such exemption by the Tenant or on distress being made by the Landlord, this agreement may be treated as an estoppel against the Tenant and any action brought to test the right to levying upon any such goods as are named as exempted in any such statute, the Tenant hereby waiving all and every benefit it could or might have had under and by virtue of such statute but for this Lease. Any goods seized by distress may be sold by public or private sale. The Landlord shall have all of the same remedies, including distress, for recovery of any amounts that become owing by the Tenant to the Landlord pursuant to this Lease in addition to Rent, all such amounts being deemed rent for this purpose.

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ENVIRONMENTAL MATTERS

For the purpose of the Lease and, in particular, this Section:

The Tenant shall comply and cause its employees, agents, contractors and those for whom it is responsible to comply with all Environmental Laws (including, without limiting the generality of the foregoing, obtaining any required Permits) relating to the Leased Premises and the Lands or the use thereof by the Tenant or those acting under its authority or control.

The Tenant shall permit the Landlord, its officers, employees, consultants, authorized representatives and agents to (i) inspect the Leased Premises and the Tenant’s operations; (ii) conduct tests and environmental assessments; (iii) remove samples from the Leased Premises; (iv) examine and photocopy any documents or records relating to the Leased Premises; and (v) interview the Tenant and its employees,

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agents, contractors and those for whom it is responsible; all at such reasonable times and intervals as the Landlord may desire.

The Tenant shall not use the Leased Premises, or permit them to be used, to utilize, manufacture, store, produce or process any Hazardous Substance with the exception of those listed in Schedule “F” and except as permitted in writing by the Landlord to be brought into the Leased Premises or onto the Lands or the Park and in compliance with all Environmental Laws.

The Tenant shall promptly notify in writing both the Landlord and the proper Governmental Authority, of any Release occurring upon the Leased Premises, the Lands or the Park.

The Tenant shall, promptly on demand remove all non-permitted Hazardous Substances used or Released by the Tenant or brought onto the Leased Premises, the Lands or the Park by the Tenant or those acting under its authority or control. For greater certainty, the foregoing obligation of the Tenant shall include, without limitation, the responsibility to remove any Hazardous Substances which have, as a result of the operations of the Tenant or any other Person acting under its authority or control, become affixed to, permeated or accumulated on or within any structures forming part of the Building or the Lands or the Park.

Attached as Schedule “F” is a list of all material Hazardous Substances that the Tenant will use at the Leased Premises. This list will be updated and submitted to the Landlord annually on the anniversary date of the Commencement Date.

Upon the request of the Landlord during the Term or any extension thereof or four (4) months preceding the calendar month in which the Term or any extension thereof expires, as the case may be, the Tenant shall provide to the Landlord an independent audit report, in form and substance and from qualified experts approved by the Landlord, acting reasonably, regarding Hazardous Substances on, under or about the Leased Premises and the Lands. Should such report reveal that no Hazardous Substances were found on, under or about the Leased Premises or the Lands that were Released by the Tenant or its employees, agents, invitees or contractors, the costs of the report shall then be borne by the Landlord and, if the report reveals the presence of any Hazardous Substances on, under or about the Leased Premises or the Lands that were Released by the Tenant or its employees, agents, invitees or contractors, the cost of the report shall then be borne by the Tenant.

Upon the demand by any Governmental Authority or the Landlord requiring that removal, cleanup, remedial or corrective action be undertaken either because of the

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presence, introduction, deposit, Release, emission, leak, spill or discharge of Hazardous Substances at the Leased Premises, the Lands or the Park during the Term or which is otherwise caused by the Tenant’s operations, occupation or use of the Leased Premises, the Lands or the Park, the Tenant shall promptly at its own expense take all action necessary to carry out a full and complete removal, cleanup, remedial or corrective action. No action by the Landlord and no attempt by the Landlord to mitigate its damages under any law shall constitute a waiver or release of the Tenant’s obligations hereunder and the Tenant shall indemnify and save harmless the Landlord from all costs and expenses incurred by the Landlord pursuant to this Lease and in respect of the Hazardous Substances and from all other damages suffered by the Landlord by reason of the Tenant’s actions or default hereunder. The Tenant’s obligations and liabilities hereunder shall survive the expiration or sooner termination of this Lease.

GENERAL PROVISIONS

In making a determination, calculation, estimate or allocation or in granting any consent or approval under this Lease, the Landlord will act reasonably and in good faith, subject to the specific provisions of this Lease. Each accountant, architect, engineer, surveyor or other professional Person employed or retained by the Landlord will act in accordance with the applicable principles and standards of the Person’s profession.

This Lease includes any Schedules and riders attached to it. There are no covenants, promises, agreements, representations, warranties, conditions or understandings, either oral or written, between the parties concerning this Lease, the Leased Premises, the Building, the Lands or any other related matter, except those that are set out in this Lease. No amendment or addition to this Lease is binding upon the Landlord or the Tenant unless it is in writing and signed by the Tenant and the Landlord. Each obligation under this Lease is a covenant. The captions, section numbers, article numbers and Table of Contents do not define, limit, construe or describe the scope or intent of the sections or articles. The use of the neuter

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singular pronoun to refer to the Tenant is a proper reference even though the Tenant is an individual, a partnership, a Corporation or a group of two or more individuals, partnerships or corporations. The grammatical changes needed to make the provisions of this Lease apply in the plural sense when there is more than one tenant and to corporations, associations, partnerships or individuals, males or females, are implied. Wherever the word “including” is used it is intended to mean “including but not limited to”, and “includes” has a corresponding meaning. This Lease will be governed by the laws of Canada and the Province in which the Building is located. Time is of the essence of this Lease. The Landlord and the Tenant agree that this Lease creates a relationship of landlord and tenant only and specifically does not create not constitute a partnership between them.

If a part of this Lease or the application of it is unenforceable or illegal to any extent, that part: (i) is independent of and severable from the remainder of this Lease, and its unenforceability or illegality does not affect the remainder of this Lease; and (ii) continues to be enforceable to the fullest extent permitted by law. No part of this Lease will be enforced against a Person, if, or to the extent that by doing so, the Person is made to breach the law, rule, regulation or enactment.

The Lease shall automatically and without notice terminate on the last day of the Term or any extension thereof and the occupancy of the Leased Premises by the Tenant after that date shall not have the effect of extending or renewing the Lease for any period of time, whether by way of tacit renewal or otherwise. The Tenant shall in such case be deemed to be occupying the Leased Premises against the will of the Landlord, who shall have the right to avail itself of any and all recourses provided by law to evict the Tenant and claim for damages.

Notwithstanding the foregoing, if the Tenant remains in possession of the Leased Premises after the Term, the Tenant will occupy the Leased Premises as a month to month tenant. The monthly Rent, payable in advance on the first day of each month, will be equal to the total of: (a) twice the Base Rent payable for the last month of the Term and (b) the Additional Rent payable for the last month of the Term. All of the other provisions of this Lease will apply as far as they can to a monthly tenancy, with any necessary modifications being assumed.

This Lease applies to the successors and assigns of the Landlord and the heirs, executors, administrators and permitted successors and permitted assigns of the Tenant. If there is more than one Tenant, or more than one Person comprising the Tenant, each is bound jointly and severally by this Lease.

The waiver by the Landlord or the Tenant of a default under this Lease is not a waiver of any subsequent default. The Landlord’s acceptance of Rent after a default is not a waiver of any preceding default under this Lease even if the Landlord knows of the preceding default at the time of acceptance of the Rent. No obligation or term

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of this Lease will be considered to have been waived by the Landlord or the Tenant unless the waiver is in writing.

Any notice, citation, directive, Order, inspection, proceeding, Judgment or other communication, written or oral, actual or threatened; any demand, consent or request (a “Notice”) under this Lease will be in writing and will be delivered in person, by courier, or sent by registered mail postage prepaid and addressed: (a) if to the Landlord, at the address specified in Paragraph #1 of the Basic Terms or to such other Person at any other address that the Landlord designates by Notice; and (b) if to the Tenant, at the Leased Premises or such other address otherwise specified in Paragraph #2 of the Basic Terms (if any), or, at the Landlord’s option, at the address of any designated agent of the Tenant (when Tenant is a Corporation).

A Notice will be considered to have been given or made on the day that it is delivered, or, if mailed, provided postal service is not, or is not expected to be interrupted, three (3) days after the date of mailing. If there is more than one Tenant, it will suffice if the Landlord delivers or mails a Notice to only one of them. Service by electronic means (such as e-mail or facsimile) is not deemed to be valid service of Notice.

This Lease or any assignment or sublease or other document evidencing an interest of the Tenant or any other party in this Lease or the Leased Premises shall not be registered against title to the Lands. However, the Tenant may register a notice of lease or caveat describing the parties, the term, and options to renew, if any, but not the Rent or other financial details of this Lease and then only after the form and terms of such notice of lease or caveat have been approved in writing by the Landlord, the whole at the cost of the Tenant, including the cost of registration and providing a copy of such registration to the Landlord. The Tenant agrees that within thirty (30) days after the expiry of this Lease, the Tenant shall provide the Landlord with written proof that the notice of lease or caveat registered against title to the Lands has been removed.

The Tenant will ensure that no Secured Claim is registered or filed against: (a) any part of the Building or the Lands; (b) the Landlord’s or any Mortgagee’s interest in any part of the Building or the Lands; or (c) the Tenant’s interest in the Leased Premises or any of the leasehold improvements in the Leased Premises; by any Person claiming by, through, under or against the Tenant or its contractors or subcontractors. If a Secured Claim is registered or filed and the Tenant falls to promptly discharge it after receipt of notice from the Landlord, the Landlord may discharge the Secured Claim or notice of it by paying the amount claimed to be due into court (together with whatever additional amounts are required to be paid into court to obtain its removal) or directly to the holder of the Secured Claim and the Tenant will pay to the Landlord on demand all costs (including legal fees) incurred by the Landlord in connection with the Secured Claim, plus the Supervision Fee.

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The Tenant will comply with the Rules and Regulations passed and revised by the Landlord from time to time (“Rules and Regulations”). However, the Tenant will not be responsible for complying with any Rules and Regulations beyond those contained in Schedule “E”, unless notice of them is first given to the Tenant. No Rules and Regulations will be enforced against the Tenant in a discriminatory manner or impose any charge or payment on the Tenant which is not expressly provided for in this Lease.

The Tenant shall deliver to the Landlord, on or before the execution of this Lease by the Tenant, the Landlord’s standard form of indemnity agreement duly executed by the Indemnifier, if any.

Despite anything to the contrary, if the Landlord or the Tenant is, in good faith, prevented from doing anything required by this Lease because of Force Majeure, the doing of the thing is excused for the period of the Force Majeure and the party prevented will do what was prevented within the required period after the Force Majeure, but this does not excuse either party from payment of amounts they are required to pay at the times specified in this Lease.

The Tenant accepts this Lease of the Leased Premises to be held by it as Tenant, subject to the terms set out in this Lease.

The Tenant represents and warrants that no broker, agent or other intermediary introduced the parties or negotiated or was instrumental in negotiating or consummating this Lease, with the exception of the broker, if any, indicated in Paragraph #16 of the Basic Terms, whose commission shall be paid by the Landlord, and the Tenant shall indemnify and hold the Landlord harmless from and against any claim made by any other broker, agent or other intermediary.

The recourse of the Tenant against the Landlord shall be limited to the Landlord’s interest in the Lands and Building. The Tenant shall have no recourse to any other assets of the Landlord, nor to any claim against any beneficial owner, limited partner or unit holder, directly or indirectly, of the Landlord.

The Tenant shall have the right to use the parking facilities located on the Lands in the manner described in Paragraph #16 of the Basic Terms.

The Landlord and any Person authorized by the Landlord shall have the right without unduly interfering with the Tenant’s business to relocate or alter parking areas,

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driveways and access ramps from time to time as the Landlord may desire including the reduction, increase or change of the size and location thereof provided always that access to and from the Leased Premises are at all times available during the business hours of the Building established by the Landlord.

The Tenant specifically covenants and agrees that the Landlord shall not be responsible for any damage whatsoever which may be caused to any vehicles or contents thereof belonging to the Tenant, its employees, invitees and guests while any such vehicle is in or about the parking facilities. It is expressly agreed that the Tenant’s vehicle(s) is/are upon the parking facilities at the Tenant’s sole risk and that the Landlord shall not be responsible for any theft, loss or damage to any such vehicles, accessories or equipment, or to any goods, merchandise, effects, or contents contained therein, nor for damage or destruction by fire in whole or in part howsoever caused.

The Tenant shall not disclose to any Person, the financial or any other terms of this Lease, except to its professional advisers, consultants and auditors, if any, and except as required by law.

THE PARTIES HAVE SIGNED BELOW to indicate their agreement.

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SCHEDULE “A”

PLAN OF LEASED PREMISES

SCHEDULE “B”

DESCRIPTION OF LANDS

FIRST

PLAN 751LK

BLOCK 4

LOT 9

CONTAINING 0.902 HECTARES (2.23 ACRES) MORE OR LESS

EXCEPTING THEREOUT ALL MINES AND MINERALS

SECOND

PLAN 751LK

BLOCK 4

LOT 10

CONTAINING 0.874 HECTARES (2.16 ACRES) MORE OR LESS

EXCEPTING THEREOUT ALL MINES AND MINERALS

SCHEDULE“C”

LANDLORD’S WORK

The Landlord’s Work, as set out below, shall be performed by Landlord at its cost in the Premises, on a “once only” basis. Such Landlord’s Work shall be completed on the later of: 30 business days after receipt by Landlord of the Lease duly executed by Tenant in a form accepted by Landlord together with Tenant’s architectural plans and specifications, and October 31, 2013.

The Landlord’s Work is as follows:

SCHEDULE “D”

    Tenant Information:

    Bank Account Information:

NOTE: Please enclose a blank cheque marked “VOID” with this form

TERMS AND CONDITIONS FOR PAD SERVICE

Beneficial Owner shall be known as the “Payee”. The bank account holder(s) shall be known as “Payor”. The “Processing Institution” shall be known as the financial institution listed by the Payor.

I/We acknowledge that this authorization is provided for the benefit of the Payee and the Processing Institution and is provided in consideration of the Processing Institution agreeing to process debits against my account in accordance with the rules of the Canadian Payments Association.

I/We warrant and guarantee that all persons whose signatures are required to sign on this account have signed this agreement below.

I/We hereby authorize the Payee to draw on the Payor’s account number with the Processing Institution for monthly charges as per the rental invoice.

The Payor may cancel this authorization at any time upon notice. I/We acknowledge that in order to revoke this authorization, I/We must provide notice of revocation to the Payee care of Triovest Realty Advisors Inc.

I/We acknowledge that provision and delivery of this authorization to the Payee constitutes delivery by the Payor to the Processing Institution. Any delivery of this authorization to you constitutes delivery by the Payor.

The transaction will occur on the first business day of the month.

Effective:        I        I         I        for the amount of $        

The account that the Payee is authorized to draw upon is indicated on the front of this form. A specimen cheque for this account has been marked “VOID” and attached to this authorization. I/We undertake to inform Triovest Realty Advisors Inc., in writing, of any change in the account information provided in this authorization prior to the next due date of the PAD.

I/We acknowledge that the Processing Institution is not required to verify that a PAD has been issued in accordance with the particulars of the Payor’s authorization including, but not limited to, the amount. I/We acknowledge that the Processing Institution is not required to verify that any purpose of payment for which the PAD was issued has been fulfilled by the Payee as a condition to honoring a PAD issued or caused to be issued by the Payee on the Payor’s account.

Revocation of this authorization does not terminate any contract for goods and services that exists between that Payor and the Payee. The Payor’s Authorization applies only to the method of payment and does not otherwise have any bearing on the contract for goods or services exchanged.

A Payor under the following conditions may dispute a PAD:

The Payor, in order to be reimbursed, acknowledges that a declaration to the effect that either (i), (ii) or (iii) took place, must be completed and presented to the branch of the Processing Institution holding the Payor’s account up to and including 10 business days after the date on which the PAD in dispute was posted to the Payor’s account.

I/We read and agree with Terms and Conditions for Pre-Authorized Debit.

SCHEDULE “E”

RULES AND REGULATIONS

1

2

SCHEDULE “F”

TENANT’S LIST OF HAZARDOUS SUBSTANCES

To be provided by Tenant and approved by Landlord prior to the Commencement Date, if any

SCHEDULE “G”

TENANT’S LEASEHOLD IMPROVEMENTS

To be provided by Tenant and approved by Landlord prior to the Commencement Date, if any

Extension

LEASE AMENDING AGREEMENT

THIS AGREEMENT made as of the 21^st day of October ▇▇▇▇

▇ ▇ ▇ ▇ ▇ ▇ ▇:

WHEREAS:

A.        By a lease dated November 5, 2013 between Dundee Industrial Twofer (GP) Inc., as landlord, and Tenant (the “Lease”), Dundee Industrial Twofer (GP) Inc. leased to Tenant for a term of five (5) years commencing April 1, 2015 and expiring March 31, 2020 (the “Term”) certain premises comprising an area of approximately [***] square feet of Rentable Area, designated as Units B, E, & F – H (the “Premises”), as further described in the Lease, in the building municipally located at 7504 – 30 Street SE, Calgary, Alberta (the “Building”);

B.        Effective August 14, 2014, Dundee Industrial Twofer (GP) Inc. changed its name to Dream Industrial Twofer (GP) Inc.; and

C.        Landlord and Tenant have agreed to extend the Term of the Lease for a further period of two (2) years and ten (10) months commencing on April 1, 2020 and expiring January 31, 2023, and to amend certain other provisions of the Lease.

NOW THEREFORE this agreement witnesses that in consideration of the covenants and agreements herein contained (the receipt and sufficiency of which is hereby acknowledged) the parties hereto covenant and agree with each other as follows:

2

The Tenant’s Work (to be performed by Tenant at its sole risk and cost) shall consist of constructing the leasehold improvements and doing all work required to open for

3

business, all in accordance with the Lease, Landlord’s criteria and standards for the Building and in strict accordance with plans and specifications to be approved by Landlord before the commencement of any the Tenant’s Work. Prior to commencing any the Tenant’s Work, Tenant shall provide Landlord with an insurance certificate from its contractor’s insurer confirming builder’s risk and public liability coverage in an amount not less than $5,000,000 per occurrence and evidence that all required building and municipal permits and authorizations, if required, have been obtained. Tenant shall reimburse Landlord for any fees payable to Landlord to Landlord’s architect, engineers, and consultants for examination of Tenant’s plans and specifications and for inspection of Tenant’s Work.

The Tenant’s Work is as follows:

Landlord acknowledges that Tenant has recently completed the following work to the Leased Premises:

4

“Notwithstanding the foregoing, the air-conditioning system and makeup air units (the “MUA’s) for the warehouse areas shall be considered Tenant’s trade fixtures and not an Alteration. Therefore Tenant shall have the responsibility to maintain, repair and replace these systems servicing the warehouse and be permitted to remove the MUA’s at the end of the extended Term and/or any subsequent renewals thereof. Tenant is responsible for all repairs/capping off of penetrations and/or venting resulting from the removal of such equipment.”

“The Landlord’s Work, as set out below, shall be performed by Landlord at its sole cost on a “once only” basis in the Premises. Tenant acknowledges Landlord and its contractors shall have the right to complete the Landlord’s Work, in common with the construction of Tenant’s Leasehold Improvements and Tenant shall exhibit best efforts to minimize interference to Landlord with the construction of the Landlord’s Work.

The Landlord’s Work is as follows:

5

6

Landlord will leave the northern most grassed curb area intact to remain as separation between DIRTT and Trans Freight ▇▇▇▇▇▇▇▇’▇ parking assignments.”

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7

IN WITNESS WHEREOF the parties hereto have executed this Agreement.

8

SCHEDULE “A-1”

SCHEDULED ROOF REPLACEMENTS