FIFTH AMENDMENT TO LEASE
THIS FIFTH AMENDMENT TO LEASE (this Fifth Amendment) is made as of August 11, 2021, by and between ARE-TECH SQUARE, LLC, a Delaware limited liability company (Landlord), and EPIZYME, INC., a Delaware corporation (Tenant).
A. Landlord and Tenant are parties to that certain Lease Agreement dated as of June 15, 2012, as amended by that certain First Amendment to Lease dated as of September 30, 2013, that certain Second Amendment to Lease dated as of May 18, 2016, that certain Third Amendment to Lease dated May 18, 2017 and that certain Fourth Amendment to Lease dated May 18, 2017 (as amended, the Lease). Pursuant to the Lease, Tenant leases certain premises commonly known as Suites 402, 501 and 601 containing approximately 43,066 rentable square feet (Premises), in that certain building located at 400 Technology Square, Cambridge, Massachusetts. The Premises are more particularly described in the Lease. Capitalized terms used herein without definition shall have the meanings defined for such terms in the Lease.
B. Subject to the terms set forth in the Lease, the Base Term of the Lease is scheduled to expire on November 30, 2022.
C. Landlord and Tenant desire, subject to the terms and conditions set forth below to amend the Lease to extend the Term of the Lease through November 30, 2024 (the Extended Expiration Date).
NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual promises and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
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Term. The Term of the Lease is hereby extended through the Extended Expiration Date. Tenant has accepted and occupies the Premises and Tenants continued occupancy of the Premises through the Extended Expiration Date shall be on an as-is basis, subject to the terms and conditions of the Lease, and, except as expressly provided in Section 3 below, Landlord shall have no obligation to provide any tenant improvement allowance or make any improvements or alterations to the Premises.
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Base Rent. Tenant shall continue to pay Base Rent in accordance with the terms and conditions of the Lease through November 30, 2022. In addition to all of its other obligations under the Lease, (i) commencing on December 1, 2022, Tenant shall pay Base Rent in the amount of $105.00 per rentable square foot of the Premises per year (for clarity, in the aggregate amount of $4,521,930 per year) in equal monthly installments in accordance with the terms and conditions of the Lease, and (ii) commencing on December 1, 2023, Base Rent shall be increased by 3% ($108.15 per rentable square foot per year, in the aggregate amount of $4,657,587.90 per year) through the Extended Expiration Date, payable in equal monthly installments in accordance with the terms and conditions of the Lease.
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Premises Improvements. Landlord shall make available to Tenant a tenant improvement allowance in the amount of $10.00 per rentable square foot of the Premises, or $430,660.00 in the aggregate (the Improvement Allowance), for the design and construction of fixed and permanent improvements desired by and performed by Tenant and reasonably acceptable to Landlord in the Premises (the Premises Improvements), which Premises Improvements shall