CENTERPOINTE OFFICE LEASE AGREEMENT

THIS OFFICE LEASE AGREEMENT made and entered into this 16th day of April,1998, between PROPERTY RESERVE, INC., (hereinafter referred to as "Landlord") whose address for purposes hereof is c/o Norris Beggs& Simpson, One Centerpointe Drive, Suite 140, Lake Oswego, Oregon, 97035 and Digimarc, (hereinafter referred to as "Tenant"), whose address for purposes hereof is One Center pointe Drive, Suite 570, Lake Oswego, OR 97035.

WITNESSETH:

ARTICLE I 
LEASED PREMISES

1.00 Leased Premises. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord, subject to the terms and conditions of this Lease Agreement, those certain premises hereinafter described, and referred to as the "Leased Premises" in the building known as ONE CENTERPOINTE, located at One Centerpointe Drive, Lake Oswego, Oregon 97035, (hereinafter referred to as the "Building"), together with the right in common with others to the use of all common entrance ways, lobbies, elevators, ramps, drives, stairs, and other similar access and service ways and common areas in and adjacent to the Building of which said Leased Premises are a part. The Leased Premises are more particularly described as approximately 1,662 square feet of rentable area located on the fifth floor, Suite No. 570, of the Building, as reflected on the floor plan of such Leased Premises attached hereto and made a part hereof as Exhibit "A".

1.01 rentable Area. The Leased Premises shall include the appurtenant right to use, in common with others, the lobbies, entrances, stairs, elevators, restrooms and other public portions of the Building (s). Landlord retains the right to make changes in the common areas as he solely deems to be in the best interest of the building. All of the outside walls and windows of the Leased Premises and any space in the Leased Premises used for shafts, stacks, pipe, conduits, ducts, and electric or other utilities, sinks or other Building (s) facilities, and the use thereof and access thereto through the Leased Premises for the purposes of operation, maintenance and repair, are reserved to Landlord.

ARTICLE II 
LEASE TERM

2.00 Term. Subject to and upon the terms and conditions set forth herein, or in any Exhibit or Addendum hereto, this Lease Agreement shall continue in force for a term of sixteen (16) months, beginning on the 1st day of July 1999, and ending on the 31st day of October, 2000. In the event that the Leased Premises should not be ready for occupancy by said commencement date for any reason this Lease Agreement shall not be void or voidable, and Landlord shall not be liable or responsible for any claims, damages or liabilities in connection therewith or by reason thereof, and the term of this Lease Agreement shall be for the same term of months as set forth in the sentence above, but the commencement date shall be effective only from the time that the Leased Premises are prepared for occupancy by the Tenant in accordance with the terms and conditions set forth herein. Should the term of this Lease Agreement commence on a date other than that specified in this Paragraph, Landlord and Tenant will, at the request of either, execute a declaration specifying the revised commencement date of the term of this Lease Agreement. In such event rental under this Lease Agreement shall not commence until said revised commencement date, and the stated term in this Lease Agreement shall thereupon commence and the expiration date shall be extended so as to give effect to the full stated term. Within five (5) days after Tenant receives Landlord's notice that the Leased Premises are ready for occupancy, Tenant shall inspect the Leased Premises, and except for items specified by Tenant to Landlord within five (5) days of Tenant's inspection, Tenant shall be deemed to have accepted the Leased Premises in their then condition, as is. The existence of "punch list" (as that term is generally used in the construction industry) items shall not postpone the commencement date of this Lease Agreement.

详细内容见附件