65 Hayden Avenue, Lexington, MA 02421 P ###-###-#### F ###-###-#### www.cubist.com
Exhibit 10.3
April 18, 2011
Mr. Steve Carbonneau
President
The Richmond Group, Inc.
77 Main Street
Hopkinton, MA 01748
Re: Amendment to November 1, 2010 Part 2 Agreement to Update GMP
Dear Mr. Carbonneau:
This letter shall serve to amend the Part 2 Agreement, as contemplated by Section 13.1.1.1 of the Part 2 Agreement, to memorialize Cubist and The Richmond Group, Inc.’s agreement on the Guaranteed Maximum Price (GMP) for the TI Phase and the Parking Phase of the work covered by the Part 2 Agreement. Per the attached budget, the GMP for the TI Phase (Fitout) shall be $14,544,130 including the Fixed A/E Services Cost of $356,270, Fixed Supervision Cost of $790,010, Fixed General Conditions Cost of $802,927 and Fixed Fee Cost of $506,000. The GMP for the Parking Phase (Garage) shall be $5,572,996 including the Fixed A/E Cost of $285,900, Fixed Supervision Cost of $115,107, Fixed General Conditions Cost of $192,283 and Fixed Fee Cost of $195,000. As a result, the total GMP under the Part 2 Agreement, including the $27,519,360 for the Core & Shell Phase, shall be $47,636,486.
The Substantial Completion Date for the TI Phase, shall be December 23, 2011 for the North Building and March 27, 2012 for the South Building. The Substantial Completion Date for the Parking Phase shall be November 15, 2011. The Part 2 Agreement shall not be amended in any other way other than as explicitly set forth in this letter and shall remain in full force and effect, as amended.
Please indicate your agreement to this amendment to the Part 2 Agreement by signing in the space indicated below.
| Very truly yours, | ||
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| CUBIST PHARMACEUTICALS, INC. | ||
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| By: | /s/ David W.J. McGirr |
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| David W.J. McGirr, Sr. Vice President and |
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| Chief Financial Officer |
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| Acknowledged and accepted | ||
| 21 day of April, 2011 | ||
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| THE RICHMOND GROUP, INC. | ||
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| By: | /s/ Steve Carbonneau |
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| Steve Carbonneau |
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| President |
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65 Hayden Avenue, Lexington, MA 02421 P 781 ###-###-#### F 781 ###-###-#### www.cubist.com
Richmond
3/18/2011
| Description |
| GMP Costs – Garage |
| GMP Costs – Fitout |
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| Demolition |
| $ | — |
| $ | 45,410 |
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| Sitework |
| $ | 675,150 |
| $ | — |
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| Landscaping |
| $ | — |
| $ | — |
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| Precast Structure |
| $ | 1,820,000 |
| $ | — |
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| Concrete Foundations |
| $ | 489,500 |
| $ | — |
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| Masonry |
| $ | 130,881 |
| $ | — |
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| Structural Steel |
| $ | — |
| $ | — |
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| Misc. Metals |
| $ | 202,140 |
| $ | — |
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| Carpentry/Millwork |
| $ | — |
| $ | 282,970 |
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| Roofing/Waterproofing |
| $ | 80,335 |
| $ | 56,897 |
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| Doors and Hardware |
| $ | 27,700 |
| $ | 145,105 |
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| Exterior Façade |
| $ | 268,978 |
| $ | — |
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| Interior Glass and Glazing |
| $ | — |
| $ | 349,375 |
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| Drywall |
| $ | 59,500 |
| $ | 1,370,200 |
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| Tile |
| $ | — |
| $ | — |
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| Acoustical Ceilings |
| $ | — |
| $ | 221,500 |
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| Flooring |
| $ | — |
| $ | 706,740 |
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| Paint |
| $ | 22,700 |
| $ | 148,610 |
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| Misc. Specialties |
| $ | — |
| $ | 244,862 |
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| Equipment — Cold Rooms Only |
| $ | — |
| $ | 288,503 |
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| Lab Casework |
| $ | — |
| $ | 818,215 |
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| Elevator |
| $ | 104,500 |
| $ | 25,000 |
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| Fire Protection |
| $ | 167,000 |
| $ | 220,000 |
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| Plumbing |
| $ | 109,659 |
| $ | 990,942 |
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| HVAC |
| $ | 59,000 |
| $ | 3,314,241 |
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| Electrical |
| $ | 230,100 |
| $ | 1,097,900 |
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| General |
| $ | 93,000 |
| $ | 339,400 |
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| Supervision |
| $ | 115,107 |
| $ | 790,010 |
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| GC’s/Permits/Insurance |
| $ | 192,283 |
| $ | 802,927 |
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| CA Engineering |
| $ | 285,900 |
| $ | 356,270 |
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| Insurance and Permits |
| w/GC’s |
| w/GC’s |
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| Contingency |
| $ | 244,543 |
| $ | 800,000 |
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| Overhead and profit |
| $ | 195,000 |
| $ | 506,000 |
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| Ace & New Transformer/Switchboard |
| $ | — |
| $ | 623,053 |
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| Total Budget |
| $ | 5,572,996 |
| $ | 14,544,130 |
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