Agreement for Termination of Lease and Voluntary Surrender of Premises, dated as of March 11, 2022, by and between Metacrine, Inc. and ARE-SD Region No. 30, LLC

Contract Categories: Real Estate - Lease Agreements
EX-10.1 2 d305831dex101.htm EX-10.1 EX-10.1

Exhibit 10.1

AGREEMENT FOR TERMINATION OF LEASE

AND VOLUNTARY SURRENDER OF PREMISES

This Agreement for Termination of Lease and Voluntary Surrender of Premises (this “Agreement”) is made and entered into as of March 11, 2022, by and between ARE-SD REGION NO. 30, LLC, a Delaware limited liability company (“Landlord”), and METACRINE, INC., a Delaware corporation (“Tenant”), with reference to the following:

RECITALS

A. Pursuant to that certain Lease dated as of June 16, 2017 (as amended, the “Lease”), Tenant now leases from Landlord a portion of certain premises known as Suite C (and also known as Suite 130) in the building located at 3985 Sorrento Valley Boulevard, San Diego, California 92121, which Premises consists of approximately 20,475 rentable square feet (the “Premises”), all as more particularly described in the Lease. Capitalized terms used herein without definition shall have the meanings defined for such terms in the Lease.

B. The term of the Lease is scheduled to expire on March 31, 2023 (the “Expiration Date”).

C. Tenant and Landlord desire, subject to the terms and conditions set forth below, to accelerate the Expiration Date of the Term of the Lease.

D. Capitalized terms used herein without definition shall have the meanings defined for such terms in the Lease.

NOW, THEREFORE, in consideration of the foregoing and of the mutual promises made herein, and for other good and valuable consideration the receipt of which is hereby acknowledged, Landlord and Tenant agree as follows:

1. Accelerated Termination Date. Landlord and Tenant agree, subject to the terms of this Agreement, to accelerate the Expiration Date of the Term of the Lease from March 31, 2023, to the later of (x) March 31, 2022 and (y) the date that Landlord notifies Tenant that Landlord has executed a lease agreement, on terms and conditions acceptable to Landlord, with a third party for the Premises (as applicable, the “Termination Date”). In no event shall Landlord have any liability to Tenant if the requirement set forth in clause (y) of the preceding sentence does not occur.

2. Termination. Notwithstanding anything to the contrary contained in this Agreement, if Tenant does not surrender the Premises on or before the Termination Date in strict accordance with the terms of this Agreement, the Term of the Lease shall nonetheless terminate on the Termination Date and the holdover provisions of the Lease shall apply.

3. Base Rent and Other Charges. Tenant shall be responsible for the payment of all Base Rent, Operating Expenses and for any other amounts payable by Tenant under the Lease through the Termination Date. Tenant shall not be required to pay Base Rent for any period following the Termination Date so long as Tenant surrenders the Premises in strict compliance with this Agreement and the Lease, as modified by this Agreement, and Tenant is not in breach hereof or under the Lease.

4. Termination and Surrender. Tenant shall voluntarily surrender the Premises as provided in this Agreement. Tenant agrees to cooperate reasonably with Landlord in all matters, as applicable, relating to surrendering the Premises in accordance with the surrender requirements set forth in the Lease and in the condition required pursuant to the Lease, as modified by this Agreement. Notwithstanding anything in the Lease to the contrary, Tenant shall not be required to remove from the Premises on or before the Termination Date (i) any wires, cables or similar equipment installed by Tenant at the Premises; (ii) any Installations or any Notice-Only Alterations; (iii) the Monument Sign, or any other signage installed by Tenant at the Premises or (iv) the Personal Property listed on Exhibit A and Exhibit B. After the Termination Date, Tenant shall have


no further rights of any kind with respect to the Premises. Notwithstanding the foregoing, as provided in Section 6 hereof, those provisions of the Lease which, by their terms, survive the termination of the Lease shall survive the surrender of the Premises and termination of the Lease provided for herein.

5. Landlord Work. From and after the date of this Agreement and continuing through and until the Termination Date, Landlord and Tenant agree to cooperate so that Landlord may, if Landlord so elects, undertake construction and/or alterations with respect to the Premises including, without limitation, performing certain tenant improvements, painting, and cleaning of floors (collectively, the “Landlord Alteration Work”) and Landlord and its agents and contractors may access the Premises to perform such Landlord Alteration Work). The Landlord Alteration Work shall be without cost, expense or liability to Tenant (except to the extent such cost, expense or liability is caused by Tenant or any of its employees, agents, contractors or invitees).

6. No Further Obligations. Landlord and Tenant each agree that the other is excused, released, and discharged as of the Termination Date from any further obligations under the Lease with respect to the Premises, excepting only such obligations under the Lease which are, by their terms, intended to survive termination of the Lease and except as provided for in this Agreement. In addition, nothing herein shall be deemed to limit or terminate any common law or statutory rights either party hereto may have with respect to the other party hereto, including in connection with any hazardous materials or for violations of any governmental requirements or requirements of applicable law. Nothing herein shall excuse Tenant or Landlord from its obligations under the Lease, as modified by this Agreement, prior to the Termination Date.

7. Personal Property. Notwithstanding anything in the Lease to the contrary, Tenant shall surrender the Premises on the Termination Date with all of Tenant’s personal property described on Exhibit A and Exhibit B left in place (“Personal Property”). Landlord hereby acknowledges that ownership of the Personal Property listed on Exhibit A shall transfer to Belharra Therapeutics, Inc., a Delaware corporation (“Belharra”) on the Termination Date pursuant to the terms of a separate written agreement between Tenant and Belharra, and the ownership of the Personal Property listed on Exhibit B shall transfer to Landlord on the Termination Date. Any other personal property of Tenant remaining in the Premises after the Termination Date is hereby agreed to be abandoned by Tenant and may be disposed of by Landlord, in Landlord’s sole discretion, without obligation or liability of any kind to Tenant.

8. Acknowledgment. Tenant and Landlord each acknowledges that it has read the provisions of this Agreement, understands them, and is bound by them. Time is of the essence in this Agreement.

9. No Assignment. Tenant represents and warrants that Tenant has not assigned, mortgaged, subleased, pledged, encumbered or otherwise transferred any interest in the Lease and that Tenant holds the interest in the Premises as set forth in the Lease as of the date of this Agreement. Landlord represents and warrants to Tenant that Landlord has not assigned the Lease.

10. No Modification. This Agreement may not be modified or terminated except in writing signed by all parties.

11. Successors and Assigns; Authority. The covenants and agreements herein contained shall inure to the benefit and be binding upon the parties and their respective successors and assigns. Tenant represents and warrants to Landlord that Tenant has the full right, legal power, and actual authority to bind Tenant to the terms and conditions hereof. Landlord represents and warrants to Tenant that Landlord has the full right, legal power, and actual authority to bind Landlord to the terms and conditions hereof.

12. Attorneys’ Fees. In the event of a dispute between the parties, the prevailing party in any litigation brought by either party in connection with this Agreement shall be entitled to have its reasonable and documented attorneys’ fees and costs paid by the other party. Each party shall be responsible for its own costs and legal fees in connection with the negotiation, execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.


13. Conflict of Laws. This Agreement shall be governed by the laws of the state in which the Premises are located.

14. OFAC. Tenant and all beneficial owners of Tenant are currently (a) in compliance with and shall at all times during the Term of the Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute, executive order, or regulation relating thereto (collectively, the “OFAC Rules”), (b) not listed on, and shall not during the term of the Lease be listed on, the Specially Designated Nationals and Blocked Persons List, Foreign Sanctions Evaders List or the Sectoral Sanctions Identifications List, which are all maintained by OFAC and/or on any other similar list maintained by OFAC or other governmental authority pursuant to any authorizing statute, executive order, or regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business under the OFAC Rules.

15. Counterparts. This Agreement may be executed in 2 or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature process complying with the U.S. federal ESIGN Act of 2000) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. Electronic signatures shall be deemed original signatures for purposes of this Agreement and all matters related thereto, with such electronic signatures having the same legal effect as original signatures.

[Signatures are on the next page]


IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

 

TENANT:
METACRINE, INC.,
a Delaware corporation
By:  

/s/ Preston Klassen

Name:   Preston Klassen
Title:   CEO
☒ I hereby certify that the signature, name, and title above are my signature, name and title.
LANDLORD:
ARE-SD REGION NO. 30, LLC,
a Delaware limited liability company

 

By:   ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
  a Delaware limited partnership,
  managing member
  By:   ARE-QRS CORP.,
    a Maryland corporation,
    general partner

 

By:  

/s/ Gary Dean

Its:   Executive Vice President -
      Real Estate Legal Affairs


EXHIBIT A

List of Personal Property to be Transferred to Belharra

Lab Equipment

 

Item

  

Quantity

    

Applied Biosystems 7900HT Fast

   1    Lab Equipment

Applied Biosystems QuantStudio

   1    Lab Equipment

Nikon Diaphot 200 Microscope

   1    Lab Equipment

Zeiss Axioskop

   1    Lab Equipment

Applied Biosystems StepOne Plus

   1    Lab Equipment

Applied Biosystems Accufill

   1    Lab Equipment

Nalogene radiation boxes

   1    Lab Equipment

Kenmore upright freezer

   4    Lab Equipment

VWR 1500E oven

   1    Lab Equipment

Sigma centrifuge

   1    Lab Equipment

Beckman Coulter Allegra 15

   1    Lab Equipment

Mettler Toledo AB analytical balance

   1    Lab Equipment

Mettler Toledo PR balance

   1    Lab Equipment

Titertek Atlas

   1    Lab Equipment

Misonix Sonicator

   1    Lab Equipment

New Brunswick scientific Platform Shaker

   1    Lab Equipment

Eppendorf 5417R

   4    Lab Equipment

Eppendorf 5415D

   3    Lab Equipment

Precision Waterbath 182

   1    Lab Equipment

BTX ECM & Stand

   1    Lab Equipment

lnfors Multitron

   3    Lab Equipment

Forma Scientific co2 water jacket incubator

   2    Lab Equipment

Eppendorf 5800 series

   1    Lab Equipment

Beckman Allegra 6 centrifuge

   3    Lab Equipment

Revco Deli Fridge

   1    Lab Equipment

Fisher lsotemp Water Bath

   2    Lab Equipment

Beckman Allegra 6 centrifuge

   1    Lab Equipment

HS-N2 centfrifuge

   1    Lab Equipment

Thermo Forma Class II BSC

   1    Lab Equipment

True Upright Fridge

   1    Lab Equipment

True Deli Fridge

   1    Lab Equipment

Baker Sterilgard Ill Advance

   1    Lab Equipment

Pipettes

   100    Lab Equipment

Shel lab 1320 oven

   1    Lab Equipment

Matrix electronic pipetter

   5    Lab Equipment

Vortex Genie 2

   10    Lab Equipment

Pipette Aid

   10    Lab Equipment

VWR Mini Vortexer

   2    Lab Equipment

Baker Sterilgard SG-400 BSC

   2    Lab Equipment

Thermo Forma Class II Type A/B3 1284

   2    Lab Equipment

Fridge/ Freezer Upright

   1    Lab Equipment

Binder Incubator/ Oven

   2    Lab Equipment


VWR CryoPro

   1    Lab Equipment

Nikon TMS microscope

   1    Lab Equipment

Nikon Eclipse TS100 microscope

   1    Lab Equipment

New Brunswick Scientific C24 Incubator shaker

   1    Lab Equipment

Thermolyne Nuova stir plate

   1    Lab Equipment

New Brunswick Scientific innova shaker

   1    Lab Equipment

Revco 3 door deIi fridge

   1    Lab Equipment

New Brunswick innova incubator shaker

   1    Lab Equipment

Thermo NanoDrop spectrophotometer

   1    Lab Equipment

rotation mixers

   2    Lab Equipment

Corning hot plate

   1    Lab Equipment

CombiFlash Companion XL & Foxy 200

   1    Lab Equipment

TA Instruments DSC with cooling system

   1    Lab Equipment

Biotage Pressure+

   1    Lab Equipment

Fisher PH Meter

   1    Lab Equipment

Millipore Milli-Q Synthesis water purifier

   1    Lab Equipment

Push/Pull Cart

   2    Lab Equipment

Stainless roller Rack

   3    Lab Equipment

Caframo stirrer with stand

   1    Lab Equipment

minus 80 racks

   1    Lab Equipment

Thermo Revco RL Series -80

   2    Lab Equipment

Thermo Revco RD Series -80

   2    Lab Equipment

Kelvinator Chest Minus 80

   1    Lab Equipment

Waters Acquity Sample Organizer

   1    Lab Equipment

Virtis BenchTop

   1    Lab Equipment

Shimadzu LC-8A pump

   2    Lab Equipment

Shimadzu SPD-10A UV/VIS detector

   1    Lab Equipment

Shimadzu SCL-10A Controller

   1    Lab Equipment

Shimadzu FRC-10A Fraction collector

   2    Lab Equipment

Shimadzu SIL-10AP Autosampler

   1    Lab Equipment

Mettler Toledo PB balance

   1    Lab Equipment

Mettler Toledo XSR analytical balance

   1    Lab Equipment

Manitowoc Ice Machine

   1    Lab Equipment

Labconco Freezone

   1    Lab Equipment

GS laboratory equipment chest -80

   1    Lab Equipment

VWR mini sonicator bath

   1    Lab Equipment

Shimadzu H PLC PARTS UNITS

   1    Lab Equipment

Teledyne ACCQ Prep HP

   2    Lab Equipment

Waters Acquity PDA Detector

   1    Lab Equipment

Waters Acquity Column Manager

   1    Lab Equipment

Waters Acquity Sample Manager

   1    Lab Equipment

Waters Acquity Binary Solvent Manager

   1    Lab Equipment

Waters Acquity Detector

   1    Lab Equipment

Buchi Rotavapor R-200

   4    Lab Equipment

Buchi Rotavapor R-205

   1    Lab Equipment

Welch Vacuum Pump

   1    Lab Equipment

Agilent 1100 DAD

   1    Lab Equipment

Hewlett Packard 1100 CalComp

   1    Lab Equipment

Logos Luna Automated Cell Counter

   1    Lab Equipment


Perkin Elmer Janus

   1    Lab Equipment

Thermo Multidrop 384

   1    Lab Equipment

Fisher lsotemp 210 water bath

   1    Lab Equipment

Corning hot plate stirrer

   1    Lab Equipment

Miltenyi Biotec gentleMACS

   1    Lab Equipment

lnvitrogen Powerease 500

   1    Lab Equipment

Bio Rad Powerpac

   1    Lab Equipment

Pharmacia biotechpower supply

   1    Lab Equipment

lnvitrogen iBlot 2

   1    Lab Equipment

Stovall belly dancer

   1    Lab Equipment

Lab line Titer Plate Shaker

   2    Lab Equipment

lsotemp Hot plater Stirrer

   1    Lab Equipment

IKA RCT Basic hotplate stirrer

   14    Lab Equipment

Chemglass hot plate stirrer

   4    Lab Equipment

VWR RCT Basic w/ ets-D4 fuzzy

   1    Lab Equipment

MJ research PTC DNA PCR

   1    Lab Equipment

Polytron PT-3100 homoginizer

   1    Lab Equipment

Beckman microfuge 18

   1    Lab Equipment

Applied Biosystems geneamp 9700

   1    Lab Equipment

Li-Cor Odyssey

   1    Lab Equipment

Molecular Devices FlexStation

   1    Lab Equipment

Molecular Devices SpectraMax

   1    Lab Equipment

Perkin Elmer Envision 2103 reader

   1    Lab Equipment

Tecan Infinite plate reader

   1    Lab Equipment

Biacore 3000

   1    Lab Equipment

Applied Biosystems MagMax

   1    Lab Equipment

HP 1100 DAD

   1    Lab Equipment

HP 1100 colcomp

   1    Lab Equipment

HP 1100 ALS

   1    Lab Equipment

HP 1100 lsopump

   1    Lab Equipment

HP 1100 Degasser

   1    Lab Equipment

Agilent 1100 Remote

   1    Lab Equipment

MP FastPrep -24

   2    Lab Equipment

Sorvall SLC-4000 composite rotor

   1    Lab Equipment

Sorvall SS-34

   1    Lab Equipment

Sorvall RC-SC

   1    Lab Equipment

Branson 5510 Sonicating Bath

   1    Lab Equipment

Benchmark Myfuge microfuge

   1    Lab Equipment

Thermo multiwell hotplate

   1    Lab Equipment

Fisher Dry Bath incubator

   1    Lab Equipment

Mini fridge

   3    Lab Equipment

Agilent HPLC misc parts & columns

   1    Lab Equipment

KDScientific syringe pump

   1    Lab Equipment

Agilent 1100 1100 ALS

   1    Lab Equipment

Agilent 1100 ALSTherm

   1    Lab Equipment

Agilent 1100 BinPump

   1    Lab Equipment

Agilent 1100 Degasser & Solvent Tray

   1    Lab Equipment

Fisher lsotemp Vacuum Oven

   1    Lab Equipment

Biotage Initiator

   1    Lab Equipment


Biotage lsolera

   2    Lab Equipment

Precision Water Bath

   1    Lab Equipment

Branson 1210 sonicating water bath

   1    Lab Equipment

Mettler Toledo AX Analytical Balance

   1    Lab Equipment

Mettler Toledo AG Analytical Balance

   1    Lab Equipment

Isolation Table - balance - stone

   1    Lab Equipment

Justrite Flammable Cabinet 45 Gallon

   6    Lab Equipment

Small rolling flammable cabinet

   1    Lab Equipment

VWR Flammable Cabinet 45 Gallon

   2    Lab Equipment

VWR lsotemp refrigerator Freezer

   1    Lab Equipment

Teledyne CombiFlash

   1    Lab Equipment

Dry storage container

   2    Lab Equipment

Buchi Melting Point B-545

   1    Lab Equipment

Thermo Thermal Rocker

   1    Lab Equipment

Fisher shaking water bath FSSWB15

   1    Lab Equipment

Mini fridge

   1    Lab Equipment

Applied Biosystems API LC/MS/MS System

   1    Lab Equipment

Applied Biosystems assy no 027463 E

   1    Lab Equipment

Waters Acquity TUV Detector

   1    Lab Equipment

Waters Acquity Sample Organizer

   1    Lab Equipment

Waters Acquity Sample Manager

   1    Lab Equipment

Waters Acquity Binary Solvent Manager

   1    Lab Equipment

AB Sciex Qtrap

   1    Lab Equipment

Agilent 1290 Infinity Bin Pump

   1    Lab Equipment

Agilent 1290 Infinity TCC

   1    Lab Equipment

Agilent 1290 Infinity DAD

   1    Lab Equipment

Agilent 1200 FC/ALS Therm

   1    Lab Equipment

Agilent 1290 Infinity II G7167B Multisampler

   1    Lab Equipment

Agilent 1200 / 1260 / 1290 Solvent Tray

   1    Lab Equipment

Agilent 1290 lunfinity Sampler

   1    Lab Equipment

Nuaire NU-602-SPEC BSC

   1    Lab Equipment

Bruker NMR

   1    Lab Equipment

Surgivet lsotec

   1    Lab Equipment

VetEquip IMPAC

   1    Lab Equipment

Desicator cabinet

   1    Lab Equipment

lnnovive mouse cage racks

   2    Lab Equipment

lnnovive rat cage racks

   2    Lab Equipment


Lab IT Equipment

 

Item

  

Quantity

    

Desktop Computer

   23    Lab IT Equipment

Laptops

   8    Lab IT Equipment

Monitors

   20    Lab IT Equipment

Printer

   3    Lab IT Equipment


Other IT Equipment

 

Group

  

Item

   Server Room    Floor    

Display

  

TV’s

   4    0  

Other IT Equipment

Display

  

Monitor

   28    44  

Other IT Equipment

Accessories

  

Monitor Arms

   2    12  

Other IT Equipment

Accessories

  

Monitor Risers

   10    20  

Other IT Equipment

Accessories

  

Task Lights

   4    1  

Other IT Equipment

Accessories

  

Keyboard Tray

   0    1  

Other IT Equipment

Display

  

Projector

   1    1  

Other IT Equipment

Phone

  

Polycoms (Conference Phone?)

   2     

Other IT Equipment

Cables/Connections

  

VGA

   11     

Other IT Equipment

Cables/Connections

  

USB 3

   21     

Other IT Equipment

Cables/Connections

  

Audi Cables

   11     

Other IT Equipment

Cables/Connections

  

DVID

   30     

Other IT Equipment

Cables/Connections

  

Display Port

   5     

Other IT Equipment

Cables/Connections

  

HDMI cables

   11     

Other IT Equipment

Accessories

  

Keyboards (single)

   20     

Other IT Equipment

Accessories

  

Mice (single)

   21     

Other IT Equipment

Cables/Connections

  

Docking Stations

   19    26  

Other IT Equipment

Cables/Connections

  

SATA Duplicator Dock

   1     

Other IT Equipment

Cables/Connections

  

Small Switch

   2     

Other IT Equipment

Phone

  

Desk Phones (Polycom VVX 311)

   17    27  

Other IT Equipment

Cables/Connections

  

DVID to Display Port Adaptor

   5     

Other IT Equipment

Cables/Connections

  

UCB-C to HDMI Adaptor

   4     

Other IT Equipment

Cables/Connections

  

VGA to DVID Adaptor

   4     

Other IT Equipment

Cables/Connections

  

DVID to Display Port Adaptor

   2     

Other IT Equipment

Cables/Connections

  

VGA to Display Port Adaptor

   1     

Other IT Equipment

Cables/Connections

  

HDMI to Display Port Adaptor

   2     

Other IT Equipment

Cables/Connections

  

Deconn Multi-Dongle (white)

   5     

Other IT Equipment

Cables/Connections

  

Deconn Multi-Dongle (black)

   8     

Other IT Equipment

Server Rack

  

UPS

   2     

Other IT Equipment

Server Rack

  

ThinkCentre Small

   1     

Other IT Equipment

Server Rack

  

CD External drive

   1     

Other IT Equipment

Server Rack

  

ThinkCentre Big

   1     

Other IT Equipment

Server Rack

  

Acer Monitor

   1     

Other IT Equipment

Server Rack

  

Cisco Switch

   2     

Other IT Equipment

Server Rack

  

Fortinet

   1     

Other IT Equipment

Printer

  

Kyocera TASKalfa 4550ci

   1     

Other IT Equipment


Office Equipment

 

Item

  

Quantity

    

Refrigerator

   2    Office Equipment

Mini Fridge

   1    Office Equipment

Beverage Fridge

   1    Office Equipment

9 piece Outdoor Dining

   2    Office Equipment

Patio Umbrella

   2    Office Equipment

Umbrella base

   2    Office Equipment

Microwave

   2    Office Equipment

Bunn Coffee Machine

   1    Office Equipment

Glass Marker Boards

      Office Equipment

Desks, Chairs, Cubicles, Credenzas

      Office Furniture

Ergo Kneeling Chair

   1    Office Equipment

Space Heaters

   3    Office Equipment

File cabinet in mothers room

   1    Office Equipment

2 fire cabinets in supply room

   2    Office Equipment

1 file cabinet

   1    Office Equipment


EXHIBIT B

List of Personal Property to be Transferred to Landlord

 

1.

4x10 GLASS MARKERBOARD

 

2.

VIDEO INTERCOM SYSTEM/CARD KEY SECURITY

 

3.

NETWORK CABLING

 

4.

INTERIOR OFFICE SIGNAGE

 

5.

VIDEO CONFERENCE ENHANCMENTS (INCLUDING NEAT SOUND BAR & TABLET)

 

6.

ES-2 HIGH EFFICIENCY RO/DI SYSTEM (WATER PURIFICATION)