Lease Renewal Agreement, dated November 11, 2010, between 52nd Street Business Centre LP, by its General Partner, 52nd Street Business Centre GP Inc., and Versa Power Systems Ltd

By lease indenture dated the 20^th day of May 2005 (hereinafter referred to as the “Original Lease”), Westpen Properties Ltd. (hereinafter referred to as the “Original Landlord”) leased and demised unto the Tenant certain premises comprising of thirty two thousand two hundred twenty (32,220) square feet, in the 52^nd Street Business Centre, in the City of Calgary, in the Province of Alberta, all as described in the Lease, for a term of Five (5) years, the term expiring on the 31^st day of January, 2011;

By an amendment of lease dated the 20^th day of April 2006 (the “Lease Amending Agreement”) between the Original Landlord and the Tenant, Paragraph 9 of the Basic Terms and certain provisions contained in Article 9 (Environmental Matters) were amended;

Effective October 1, 2010 the Original Landlord transferred ownership of the Building and assigned all of its interest as landlord under the Lease to the Landlord named herein;

The Original Lease together with the Lease Amending Agreement are herein collectively referred to as the “Lease”;

The Lease does contain provisions for the Tenant to be granted a renewal Lease for the Leased Premises; however, the Tenant did not exercise its right to such renewal as outlined in the Lease;

The Landlord and the Tenant have agreed to enter into a Lease Renewal Agreement for the Leased Premises for a renewal term of three (3) years on the terms and conditions hereinafter set forth.

The parties hereby acknowledge, confirm and agree that the foregoing recitals are true in substance and in fact.

The Lease shall be renewed for a term of three (3) years to be computed from the 1^st day of February 2011 and to expire on the 31^st day of January 2014 (hereinafter referred to as the “Renewal Term”).

The Base Rent payable by the Tenant pursuant to Paragraph 7 of the Basic Terms of the Lease, yearly, throughout the Renewal Term shall be:

Paragraph 13. a. (Option to Renew) of the Basic Terms of the Lease shall be deleted in its entirety.

Schedule “E” of the Lease shall be deleted in its entirety and replaced with:

With the exception of the amendments to the Lease herein contained, during the Renewal Term all of the terms and conditions contained in the Lease are hereby confirmed (excluding any provisions for free, inducements, Landlord’s Work, and any rights to lease additional space and other financial incentives) and the Lease is in full force and effect.  Each capitalized term used in this Lease Renewal Agreement and not defined herein shall be deemed to have the same meaning ascribed to it in the Lease.

This Lease Renewal Agreement may be executed in any number of counterparts, with the same effect as if all parties had signed the same document and will become effective once a signed counterpart is delivered by each of the parties to the other.  The parties agree that the delivery of an executed copy of this Lease Renewal Agreement by facsimile or

This Lease Renewal Agreement shall enure to the benefit of the Landlord and the Tenant and their respective successors and assigns.