FIRST AMENDMENT TO LEASE AGREEMENT
THIS FIRST AMENDMENT TO LEASE AGREEMENT (this “Amendment”) is made as of the 19th day of August, 2020 by and between FUSCO HARBOUR ASSOCIATES, LLC, a Connecticut limited liability company (hereinafter called “Landlord”), and BIOXCEL THERAPEUTICS, INC., a Delaware corporation (hereinafter called “Tenant”).
WHEREAS, Landlord and Tenant are parties to that certain Lease Agreement having an “Effective Date” of August 20, 2018 (the “Lease”), respecting certain premises currently containing 11,040 rentable square feet located on the twelfth (12th) floor at 555 Long Wharf Drive, New Haven, Connecticut. Capitalized terms which are used but are not defined herein shall have the same meanings as in the Lease;
WHEREAS, the term of the Lease commenced on February 22, 2019 and currently expires on February 28, 2026; and
WHEREAS, Tenant now desires to (i) lease an additional 7,245 rentable square feet of space contiguous to the current Premises (said additional space being sometimes referred to in this Amendment as the “Additional Space” and being shown and designated as the “Additional Space” on Exhibit A attached hereto), and (ii) amend the Lease in connection with all of the foregoing.
NOW, THEREFORE, IN VIEW OF THE FOREGOING, AND IN CONSIDERATION OF THE TERMS HEREOF, THE UNDERSIGNED DO HEREBY AGREE AS FOLLOWS:
1. For purposes of this Amendment, the following terms shall have meanings set forth below:
(a) “Additional Space Delivery Date” shall mean the date upon which Landlord delivers possession of the Additional Space to Tenant in vacant and broom clean condition, which is currently anticipated to take place promptly following the date of this Amendment; and
(b) “Additional Space Rent Commencement Date” shall mean the date which is sixty (60) days after the earliest of (x) occupancy by Tenant of any portion of the Additional Space for conduct of its business, or (y) the date that Tenant’s Additional Space Work (as hereinafter defined) is substantially completed. For purposes hereof, the sixty (60) day period described above is referred to herein as the “Abatement Period” and shall be subject to reduction as set forth below.
Landlord shall confirm the Additional Space Delivery Date and the Additional Space Rent Commencement Date and shall provide Tenant with written notice of said dates. When said dates have been so determined, at Landlord’s or Tenant’s request, the parties hereto shall within fifteen (15) days after such request, execute a written agreement confirming said dates.