Lease Amendment Agreement between Fidia Farmaceutici S.p.A. and Fidia Advanced Biopolymers S.r.l. (September 20, 2010)
This agreement amends a previous lease between Fidia Farmaceutici S.p.A. and Fidia Advanced Biopolymers S.r.l. for certain premises in Abano Terme, Italy. Effective September 20, 2010, it updates the property description, replaces Annex A, revises the rent amounts and areas leased, and sets the new total monthly rent at €41,042. Both parties agree to these changes, which clarify the leased spaces and financial terms.
Exhibit 10.3
LEASE AMENDMENT AGREEMENT
Between
FIDIA FARMACEUTICI S.P.A. with registered office in Abano Terme (PD), via
Ponte della Fabbrica 3/A, Italy, V.A.T. No. 00204260285 (hereinafter "Fidia")
and
FIDIA ADVANCED BIOPOLYMERS S.r.l. with registered office in Abano Terme
(PD), via Ponte della Fabbrica 3/B, Italy, V.A.T. No. 03641500289 (hereinafter "FAB")
(hereinafter jointly referred to as the "Parties" and each one as a "Party")
WHEREAS
on December 30, 2009, Fidia and FAB entered into a lease agreement (the "Agreement") related to the lease of certain Property (as defined in the Agreement);
Fidia and FAB hereby agree as follows:
| 1) | Definitions included in the Agreement shall have the same meaning in this Lease Amendment Agreement. |
| 2) | With effect as of September 20, 2010, Annex A to the Agreement is replaced by the revised Annex A attached to this Lease Amendment Agreement. |
| 3) | With effect as of September 20, 2010, Recital (C) to the Agreement is hereby amended as follows: |
"the Lessor is the owner of the premises located at Abano Terme (PD), Via Ponte della Fabbrica 3/A and 3/B, registered with the NCT F. 10 mapp. 632 and NCEU F. 10 mapp. 632, as described by the extract from the Land Registry and maps as per Annex A hereto and identified as follows (the "Property"):
| (1) | portion of the building named F2 ("Building F2 – Maps 0008_59 e 0008_02") per mq 380 for warehouse use; |
| (2) | portion of the building named "Istituto di Ricerca" (LR1 – Maps 0005 e 0006) for mq 1,174 for laboratories and production facility Tissue Tech and for mq 1,268 for office (ground floor and first floor);". |
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| 4) | With effect as of September 20, 2010: |
| a) | the table in Section 3.1, is replaced by the following table: |
| Area | Mq. | Monthly rent/mq (Euro) | Monthly rent (Euro) |
| Istituto di Ricerca (LR1 - Maps 0005 e 006) - Offices Warehouse ("Building F2 –Map 0008_59") | 1,268 | 14.29 | 18,119 |
| 373 | 5.11 | 1,906 | |
| Warehouse (“Building F2 – Map 0008_02”) | 7 | 14.29 | 100 |
| Istituto di Ricerca (LR1 - Map 0005)- Research Laboratories | 655 | 17.05 | 11,168 |
| Istituto di Ricerca (LR1 - Map 006)- Production facility Tissue Tech | 519 | 17.05 | 8,849 |
| Amount | 2,822 | 41,042 |
And, b) the total amount in line to of Section 31 from September 20, 2010 is Euro 41,042.
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IN WITNESS WHEREOF, the parties have executed or caused this Lease Amendment Agreement to be executed.
Abano Terme, September 20, 2010
FIDIA FARMACEUTICI S.P.A.
By: /s/ Antonio Germani
Antonio Germani, Chief Executive Officer
FIDIA ADVANCED BIOPOLYMERS S.R.L.
By: /s/ Charles H. Sherwood, Ph.D.
Charles Sherwood, President
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