Sixth Amendment to Office Lease Agreement by and between Exponent Realty, LLC and Corcept Therapeutics Incorporated, made and entered into as of July Sixth Amendment to Office Lease Agreement by and between Exponent Realty, LLC and Corcept Therapeutics Incorporated, made and entered into as of July 22, 2020
EX-10.1 2 cortex101sixthamendmen.htm EX-10.1 Document
SIXTH AMENDMENT (the "Sixth Amendment") is made and entered into as of July 22nd, 2020 by and between Exponent Realty, LLC, a Delaware limited liability company ("Landlord"), and Corcept Therapeutics Incorporated, a Delaware corporation ("Tenant").
A.Landlord and Tenant are parties to that certain lease dated April 1, 2016 (the "Lease"), the first amendment (the "First Amendment") dated June 1, 2017, the second amendment (the "Second Amendment") dated March 12, 2018, the third amendment (the "Third Amendment") dated November 8, 2018, the Fourth Amendment dated October 23, 2019 (the "Fourth Amendment") and the Fifth Amendment dated June 17, 2020 (the "Fifth Amendment"). Pursuant to the Lease, the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, and the Fifth Amendment, Landlord has leased to Tenant space currently containing approximately 36,062 rentable square feet (the "Premises") on the first and second floor of the building, located at 149 Commonwealth Dr., Menlo Park, CA 94025 (the "Building").
B.Tenant and Landlord now desire to amend Lease on the following terms and conditions:
NOW, THEREFORE, in consideration of the above recitals which by this reference are incorporated herein, the mutual covenants and conditions contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows:
1.Tenant's Alteration of Premises. Tenant may, at Tenant's own expense, remove a server room and offices in the area of the Premises shown on Exhibit A to this Sixth Amendment.
2.Tenant's Restoration of Altered Premises. If Tenant alters the Premises in accordance with paragraph 1, above, Landlord may require Tenant to restore the altered server room to the configuration existing as of the time of this Sixth Amendment and with materials equivalent in condition and appearance to the areas as they exist as of the time of this Sixth Amendment. Tenant's obligation for labor and materials to restore the altered server room shall be subject to a maximum of Five Thousand Dollars ($5,000.00).
3.Notice to Restore. If Landlord wishes to require Tenant to restore the altered premises in accordance with paragraph 2, above, Landlord shall provide Tenant notice no later than 60 days before the termination of the Lease and Tenant shall complete the restoration prior to the termination of the Lease.
5.1 This Sixth Amendment, which is hereby incorporated into and made a part of the Lease, sets forth the entire agreement between the parties with respect to the matters herein. There have been no additional oral or written representations or agreements. Under no circumstances shall Tenant be entitled to any Rent abatement, improvement allowance, leasehold improvements, or other work to the Premises, or any similar economic incentives that may have been provided Tenant in connection with entering into the Lease, unless specifically set forth in this Sixth Amendment. Tenant agrees that neither Tenant nor its agents or any other parties acting on behalf of Tenant shall disclose any matters set forth in this Sixth Amendment or disseminate or distribute any information concerning the terms, details or conditions hereof to any person, firm, entity, broker or other tenants in the Building without obtaining the express written consent of Landlord.
5.2 Except as herein modified or amended, the provisions, conditions and terms of the Lease shall remain unchanged and in full force and effect.
5.3 In the case of any inconsistency between the provisions of the Lease and the Sixth Amendment, the provisions of this Sixth Amendment shall govern and control.
5.4 Submission of this Sixth Amendment by Landlord is not an offer to enter into this Sixth Amendment but rather is a solicitation for such an offer by Tenant. Landlord shall not be bound by this Sixth Amendment until Tenant and Landlord have executed and Landlord delivered the same to Tenant.
5.5 Tenant hereby represents to Landlord that Tenant has dealt with no real estate brokers or agents in connection with this Sixth Amendment. Tenant agrees to indemnify and hold Landlord, its members, principals, beneficiaries, partners, officers, directors, employees, mortgagee(s) and agents, and the respective principals and members of any such real estate brokers or agents (collectively, the "Landlord Related Parties") harmless from all claims of any real estate
brokers or agents claiming to have represented Tenant in connection with this Sixth Amendment. Landlord hereby represents to Tenant that Landlord has dealt with no real estate brokers or agents in connection with this Sixth Amendment. Landlord agrees to indemnify and hold Tenant, its members, principals, beneficiaries, partners, officers, directors, employees, and agents, and the respective principals and members of any such real estate brokers or agents (collectively, the "Tenant Related Parties") harmless from all claims of any real estate brokers or agents claiming to have represented Landlord in connection with this Sixth Amendment.
5.6 Each signatory of this Sixth Amendment represents hereby that he or she has the authority to execute and deliver the same on behalf of the party hereto for which such signatory is acting.
IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Sixth Amendment as of the day and year first above written.
|EXPONENT REALTY, L.L.C.,|
|a Delaware limited liability company|
|Date: 7/30/20||By: /s/ Richard L. Schlenker|
|Name: Richard L. Schlenker|
|Title: Executive Vice President & CFO|
|Corcept Therapeutics Incorporated,|
|a Delaware corporation|
|Date: 7/22/20||By: /s/ Gary Francesconi|
|Name: Gary Francesconi|