FIRST AMENDMENT TO LEASE
1490 OBrien Drive, Suite A, B and E
Menlo Park, California 94025
THIS FIRST AMENDMENT TO LEASE (this Amendment) is made and entered into as of April 28, 2019 (the Effective Date), by and between MENLO PREPI I, LLC, a Delaware limited liability company and TPI Investors 9, LLC, a California limited liability company (collectively, Landlord) and FORTY SEVEN, INC., a Delaware corporation (Tenant), being the parties to that certain Lease dated April 13, 2016 (the Lease), for the Premises described in the Lease as Suite A, B and E of 1409 OBrien Drive, Menlo Park, California 94025 (the Premises), as the Premises is more particularly described on Exhibit C to the Lease.
WHEREAS, Landlord and Tenant wish to enter into this Amendment to modify the Lease to provide for the expansion of the Premises to include approximately 6,230 rentable square feet within the Building, as shown on the floor plan of the Building attached hereto as Exhibit A and commonly known as Suite D (the Expansion Premises) and to amend the Lease in certain other respects on the terms set forth in this Amendment.
NOW, THEREFORE, the parties agree as follows:
1. Lease Definitions. Capitalized terms defined in the Lease which are used in this Amendment shall have the same meaning as in the Lease, except as otherwise provided in this Amendment.
2. Expansion Premises Commencement Date and Expiration Date. The Expansion Premises shall be added to the Premises as of March 1, 2021 (the Expansion Premises Commencement Date) and upon the same terms and conditions with respect to the Premises, except that (a) Base Rent for the Expansion Premises shall be determined as set forth in Section 3 below, (b) Tenants Share of Additional Rent shall be determined as set forth in Section 4 below, and (c) Tenant shall accept the Expansion Premises in its as is condition. The term of the Lease for the Expansion Premises shall be co-terminus with the term for the Premises. Upon the expiration or earlier termination of the Lease, Tenant shall vacate and surrender to Landlord the Expansion Premises in the condition required by the Lease.
3. Monthly Base Rent for Expansion Premises. The Monthly Base Rent for the Expansion Premises shall be as follows:
| || || || || || || || |
| ||Square Feet || || ||Monthly Base Rent || |
| || ||6,230 || || ||$ ||36,021.27 || |
4. Tenants Share of Additional Rent for the Expansion Premises. From and after the Expansion Premises Commencement Date, Tenant shall pay Additional Rent, Operating Expenses and Taxes attributable to the Expansion Premises in accordance with Section 5 of the Lease; provided, however, that (A) Tenants Pro Rata Share of the Operating Expenses of the Building and the Taxes shall equal 90.61% (27,749/30,623) and (B) Tenants share of Park Expenses shall be increased to equal 3.22%.
5. Security Deposit. Concurrently with the execution of this Amendment, Tenant shall deposit an additional Thirty-Three Thousand Nine Hundred Fifty-Three and 50/100 Dollars ($33,953.50)