Letter agreement dated November 15, 2017 to the Lease dated February 5, 2013 by and between BMR-Rogers Street LLC and the Registrant
EX-10.37.5 3 mnta12312017ex10375.htm EXHIBIT 10.37.5 Exhibit 
Exhibit 10.37.5
VIA FEDERAL EXPRESS
November 15, 2017
Momenta Pharmaceuticals, Inc.
675 West Kendall Street
Cambridge, MA 02142
Attention: Alejandra Carvajal
Vice President and Deputy General Counsel
Re: | Lease dated as of February 5, 2013 by and between BMR-Rogers Street LLC (“Landlord”) and Momenta Pharmaceuticals, Inc. (“Tenant”), as amended by First Amendment to Lease dated as of March 21, 2013, as further amended by Second Amendment to Lease dated as of May 24, 2013, as further amended by Third Amendment to Lease dated as of December 30, 2015, and as further amended by Fourth Amendment to Lease dated as of July 24, 2017 (the “Fourth Amendment”; collectively, the “Lease”) |
Dear Ms. Carvajal:
This letter memorializes certain agreements between Landlord and Tenant with respect to the application of the Binney TI Allowance. Pursuant to the Fourth Amendment, Tenant has leased approximately 52,252 square feet on the fourth (4th) floor of 301 Binney Street, in Cambridge, Massachusetts (the “Binney Premises”). Pursuant to a Sublease dated September 14, 2016, by and between Biogen MA Inc. (“Biogen”), as sublessor, and Tenant, as sublessee (the “Sublease”), Tenant is subleasing the entire fifth (5th) floor of 301 Binney Street (the “Fifth Floor Premises”).
Pursuant to Section 5.3 of the Fourth Amendment, Landlord shall provide to Tenant the Binney TI Allowance in the amount of $4,702,680, which shall be used for certain costs associated with building out the Binney Premises as set forth therein. Tenant is also concurrently making certain tenant improvements to the Fifth Floor Premises (the “Sublease Tenant Improvements”), in accordance with the terms of the Sublease. Tenant is not receiving any tenant allowance funds from Biogen related to the Fifth Floor Premises.
Tenant has represented to Landlord that the budget for the Binney Tenant Improvements will be less than the amount of the Binney TI Allowance, and Tenant has requested that Landlord allow Tenant to allocate the unused portion of the Binney TI Allowance to Tenant’s build-out costs for the Fifth Floor Premises instead. As an accommodation, Landlord hereby agrees that, notwithstanding the provisions of the Lease, Tenant may allocate a portion of the Binney TI Allowance to the Fifth Floor Premises, subject to the following conditions:
 | ||
4826-9290-2741.2 | ||
1. | The Binney TI Allowance may be applied to the costs incurred for tenant improvements to the Fifth Floor Premises, provided that the same shall be limited to the same categories of cost and subject to the same restrictions as set forth in Section 5.2 of the Fourth Amendment. |
2. | The Binney TI Allowance shall be disbursed in the manner set forth in the Binney Work Letter, except that Tenant shall submit separate Fund Requests for costs related to the Binney Premises and the Fifth Floor Premises, so that such costs are separately accounted for. |
3. | The current budget for the Binney Premises is attached hereto and incorporated herein as Schedule 1, and the current budget for the Fifth Floor Premises is attached hereto and incorporated herein as Schedule 2. Such budgets are hereby approved by Landlord, and shall constitute the “Binney Approved Budget” pursuant to the Binney Work Letter. |
4. | The provisions of the Binney Work Letter shall apply to the Binney Tenant Improvements and the Sublease Improvements mutatis mutandis. |
5. | In the event the Sublease is terminated prior to the completion of the Sublease Improvements or the Binney TI Deadline, Tenant shall not be entitled to any subsequent disbursements from the Binney TI Allowance for the Sublease Tenant Improvements. |
Except as modified by this letter, the Lease and all the covenants, agreements, terms, provisions and conditions thereof shall remain in full force and effect and are hereby ratified and affirmed. In the event of any conflict between the terms contained in this letter and the Lease, the terms herein contained shall supersede and control the obligations and liabilities of the parties.
Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Lease. This letter shall be governed by the laws of the Commonwealth of Massachusetts without giving effect to its choice of law principles. Tenant may not assign its rights or obligations under this letter to any other person or entity without Landlord’s prior written consent in its sole discretion, and any purported assignment without Landlord’s prior written consent shall be null and void. The agreements contained in this letter shall inure to the benefit of and shall apply to and be binding upon Landlord and Tenant and their respective successors and permitted assigns. This letter may be executed in counterparts, each of which shall be an original, and all of which, taken together, shall constitute one and the same document. A facsimile or portable document format (PDF) signature on this letter shall be equivalent to, and have the same force and effect as, an original signature.
Very truly yours,
/s/ KEVIN SIMONSEN
Kevin Simonsen
Senior Vice President, Senior Counsel & Secretary
4826-9290-2741.2 | 2 | |
By signing below, Tenant agrees to all of the foregoing and represents and warrants that Tenant has the full power and authority to countersign this letter and bind Tenant to the foregoing.
Momenta Pharmaceuticals, Inc.,
A Delaware corporation
By: /s/ SCOTT M. STORER
Name: Scott M. Storer
Title: Chief Financial Officer
Name: Scott M. Storer
Title: Chief Financial Officer
4826-9290-2741.2 | 3 | |
Schedule 1
Budget for Binney Premises (4th Floor)
[see attached]
4826-9290-2741.2 | 4 | |
 | ||||||
Momenta | ||||||
301 Binney - Renovations to Floor 4 | ||||||
10/24/17 | ||||||
Level 4 | ||||||
Cost Code | Ph | Description | Cost | |||
Architectural | ||||||
0170 | 01 | Final Cleaning | $ | 31,590 | ||
0240 | 01 | Demolition | $ | 73,180 | ||
0550 | 01 | Misc Metal - Monumental Stairs and Structure | $ | 147,600 | ||
0620 | 01 | Millwork & Finish Carpentry | $ | 130,250 | ||
0880 | 01 | Interior Glazing | $ | 57,150 | ||
0920 | 01 | Interior Architectural Asseblies | $ | 193,160 | ||
0950 | 01 | Acoustical Ceilings | $ | 42,323 | ||
0960 | 01 | Carpet/Tile/Sheet Flooring | $ | 260,670 | ||
0990 | 01 | Painting / Interior Caulking | $ | 75,377 | ||
1000 | 01 | Misc. Specialties/ Window Treatments | $ | 21,500 | ||
1010 | 01 | Interior Signage & Graphics | $ | 17,006 | ||
1200 | 01 | Furniture | $ | 300,000 | ||
SUBTOTAL - ARCHITECTURAL | $ | 1,349,805 | ||||
MEP | ||||||
2100 | 01 | Fire Protection | $ | 13,130 | ||
2200 | 01 | A/G Plumbing | $ | 18,700 | ||
2300 | 01 | HVAC Piping | $ | 15,700 | ||
2305 | 01 | Testing and Balancing | $ | 15,645 | ||
2330 | 01 | Sheet Metal | $ | 27,275 | ||
2500 | 01 | Building Management System | $ | 17,275 | ||
2600 | 01 | Electrical/ FA | $ | 283,675 | ||
2700 | 01 | Tel-Data | $ | 93,438 | ||
2740 | 01 | Audio Visual - Part of Early Purchase | $ | 250,000 | ||
2800 | 01 | Security | $ | 31,590 | ||
SUBTOTAL - MEP | $ | 766,428 | ||||
Equipment | ||||||
SUBTOTAL - EQUIPMENT | — | |||||
SUBTOTAL - CIVIL, ARCH, MEP, EQUIP | $ | 2,116,233 | ||||
Soft Costs | ||||||
0100 | 01 | GC's and GR's | $ | 68,007 | ||
0104 | 01 | Staffing | $ | 309,393 | ||
0104 | 01 | Preconstruction (Estimate & Design Reviews) | $ | 13,500 | ||
1918 | 01 | Insurance | $ | 58,292 | ||
1919 | 01 | Bonding (Excluded) | — | |||
1920 | 01 | Permitting | $ | 36,906 | ||
6000 | 01 | OT | $ | 38,861 | ||
7000 | 01 | Contingency | $ | 233,168 | ||
9997 | 01 | Fee | $ | 153,672 | ||
SUBTOTAL - SOFT COSTS | $ | 911,799 | ||||
TOTAL | $ | 3,028,032 | ||||
Other Costs (by Owner) | ||||||
A/E | $ | 302,803 | ||||
Owner Consultants | $ | 50,000 | ||||
Commissioning | $ | 34,975 | ||||
Builders Risk Insurance | $ | 5,000 | ||||
Total | $ | 392,778 | ||||
Grand Total | $ | 3,420,810 | ||||
| |||||
Project - Momenta 301 Binney Street Renovation to Level 4 and 5 | |||||
Date - October 24, 2017 | |||||
4th Floor | |||||
Description | GL Code | Total | |||
$ | — | ||||
Demo | 0240.001 | $ | 63,180 | ||
FP Mods at New Office Area | 2100.001 | $ | 6,000 | ||
FP Mods at New Communicating Stairs | 2100.001 | $ | 4,160 | ||
FD Mods at New Offices and Huddle Rooms etc.. | 2100.001 | $ | 2,970 | ||
New Electrical and Lighting at Office Area etc. | 2600.001 | $ | 102,000 | ||
New Electrical and Lighting | 2600.001 | $ | 33,900 | ||
New Electrical for Cubes | 2600.001 | $ | 102,850 | ||
Tele/Data/Audio Visual Drops | 2700.001 | $ | 75,938 | ||
Fitout new IDF Rooms (assume 1 per floor) | 2700.001 | $ | 17,500 | ||
Plumbing - | 2200.001 | $ | 18,700 | ||
Furniture Pricing - Balance from COP | 1200.001 | $ | 300,000 | ||
Replace Damage Ceiling Tiles (for new data/elec, drops to cubes etc.) | 0950.001 | $ | 21,323 | ||
Misc. Carpet and New Flooring / Replacement | 0960.001 | $ | 162,720 | ||
New Flooring at North side vs Temporary Protection at Existing Carpeting | 0960.001 | $ | 78,750 | ||
New Flooring - East Corridor | 0960.001 | $ | 4,200 | ||
New VCT Upgrades at Café | 0960.001 | $ | 8,000 | ||
New Tile Back Splashes | 0960.001 | $ | 7,000 | ||
Demo - SOD for Communicating Stairs | 0240.001 | $ | 10,000 | ||
New Communicating Stairs with Standard Painted Hand Rails | 0550.001 | $ | 84,000 | ||
New Structure @ Communicating Stairs | 0550.001 | $ | 45,000 | ||
Patch Spray Fire Proofing | 0920.001 | $ | 1,500 | ||
Momenta Graphics Allowance at Stairs | 0990.001 | $ | 10,260 | ||
New Millwork at Bottom of Stairs | 0620.001 | $ | 36,250 | ||
New Millwork at Stair Landing/Treads | 0550.001 | $ | 18,600 | ||
New Millwork/Casework at Kitchen and Copy Rooms | 0620.001 | $ | 68,000 | ||
New Millwork - Mailrooms | 0620.001 | $ | 26,000 | ||
New Drywall at Communicating Stairs (wall) | 0920.001 | $ | 6,840 | ||
New Drywall at New Offices and Copy Area etc. | 0920.001 | $ | 42,000 | ||
Doors and Frames - New | 0920.001 | $ | 63,800 | ||
Aluminum Doors and Fronts at New Construction Only | 0880.001 | $ | 57,150 | ||
Dedicated Clean Up Laborer | 0920.001 | $ | 57,000 | ||
Final Cleaning | 0170.001 | $ | 31,590 | ||
Misc. Specialties at New Offices | 1000.001 | $ | 13,500 | ||
Misc. Specialties - First Floor | 1000.001 | $ | 8,000 | ||
New Interior Signage at 4th Floor | 1010.001 | $ | 17,006 | ||
Fabric Wall Panels | 0920.001 | $ | 13,500 | ||
Graphic Wall Paper | 0990.001 | $ | 24,000 | ||
New Painting at New Walls | 0990.001 | $ | 11,875 | ||
Paint - Refresh all Remaining Walls | 0990.001 | $ | 23,335 | ||
New Ceiling and Rework at New Walls etc. | 0950.001 | $ | 21,000 | ||
New Drywall - Demising Wall | 0920.001 | $ | 8,520 | ||
New Painting - One side of Demising Wall | 0990.001 | $ | 5,906 | ||
New RH Piping at New Office/Conf. Rooms | 2300.001 | $ | 15,700 | ||
Ductwork - Modify at New Individual Offices | 2330.001 | $ | 27,275 | ||
BAS Mods - At New Office | 2500.001 | $ | 17,275 | ||
Testing and Balancing at New Offices / Rooms | 2305.001 | $ | 15,645 | ||
Electrical - FA/LSS | 2600.001 | $ | 7,425 | ||
Sound Masking System | 2600.001 | $ | 37,500 | ||
Security | 2800.001 | $ | 31,590 | ||
Network Implementation and Backbone | 2740.001 | $ | 250,000 | ||
$ | — | ||||
$ | 2,116,233 | ||||
Schedule 2
Budget for Fifth Floor Premises
[see attached]
4826-9290-2741.2 | 5 | |
| ||||||
Momenta | ||||||
301 Binney - Renovations to Floor 5 | ||||||
10/24/17 | ||||||
Level 5 | ||||||
Cost Code | Ph | Description | Cost | |||
Architectural | ||||||
0170 | 01 | Final Cleaning | $ | 13,000 | ||
0240 | 01 | Demolition | $ | 75,580 | ||
0620 | 01 | Millwork & Finish Carpentry | $ | 44,500 | ||
0880 | 01 | Interior Glazing | $ | 139,100 | ||
0920 | 01 | Interior Architectural Asseblies | $ | 748,260 | ||
0950 | 01 | Acoustical Ceilings | $ | 157,275 | ||
0960 | 01 | Carpet/Tile/Sheet Flooring | $ | 274,540 | ||
0990 | 01 | Painting / Interior Caulking | $ | 117,090 | ||
1000 | 01 | Misc. Specialties/ Window Treatments | $ | 158,250 | ||
1010 | 01 | Interior Signage & Graphics | $ | 23,555 | ||
1230 | 01 | Casework & Accessories | $ | 96,250 | ||
SUBTOTAL - ARCHITECTURAL | $ | 1,847,400 | ||||
MEP | ||||||
2100 | 01 | Fire Protection | $ | 55,000 | ||
2200 | 01 | A/G Plumbing | $ | 124,250 | ||
2300 | 01 | HVAC Piping | $ | 60,480 | ||
2305 | 01 | Testing and Balancing | $ | 23,555 | ||
2330 | 01 | Sheet Metal | $ | 167,960 | ||
2500 | 01 | Building Management System | $ | 147,950 | ||
2600 | 01 | Electrical/ FA | $ | 480,150 | ||
2700 | 01 | Tel-Data | $ | 156,500 | ||
2740 | 01 | Audio Visual - Part of Early Purchase | $ | 250,000 | ||
2800 | 01 | Security | $ | 55,760 | ||
SUBTOTAL - MEP | $ | 1,521,605 | ||||
Equipment | ||||||
1153 | 01 | Biosafety Cabinets | $ | 176,000 | ||
1164 | 01 | Sterilizers | $ | 65,000 | ||
SUBTOTAL - EQUIPMENT | $ | 241,000 | ||||
SUBTOTAL - CIVIL, ARCH, MEP, EQUIP | $ | 3,610,005 | ||||
Soft Costs | ||||||
0100 | 01 | GC's and GR's | $ | 68,007 | ||
0104 | 01 | Staffing | $ | 309,393 | ||
0104 | 01 | Preconstruction (Estimate & Design Reviews) | $ | 13,500 | ||
1918 | 01 | Insurance | $ | 58,292 | ||
1919 | 01 | Bonding (Excluded) | $ | — | ||
1920 | 01 | Permitting | $ | 36,906 | ||
6000 | 01 | OT Allowance | $ | 38,861 | ||
7000 | 01 | Contingency | $ | 233,168 | ||
9997 | 01 | Fee | $ | 153,672 | ||
SUBTOTAL - SOFT COSTS | $ | 911,799 | ||||
GRAND TOTAL | $ | 4,521,804 | ||||
Other Costs (by Owner) | ||||||
A/E | $ | 452,180 | ||||
Owner Consultants | $ | 50,000 | ||||
Commissioning | $ | — | ||||
Validation (NA) | $ | — | ||||
Builders Risk Insurance | $ | 5,000 | ||||
Momenta - Move Management | ||||||
Grand Total | $ | 4,521,804 | ||||
| |||||
Project - Momenta 301 Binney Street Renovation to Level 5 | |||||
Date - October 24, 2017 | |||||
5th Floor | |||||
Description | GL Code | Total | |||
$ | — | ||||
Demo Interiors | 0240.001 | $ | 75,580 | ||
Save Interior Curtainwall (store in mechanical room) | 0880.001 | $ | 32,400 | ||
Recycle all remaining glazing and aluminum | 0880.001 | $ | 12,500 | ||
FP Mods at New Office and Lab Area's | 2100.001 | $ | 37,500 | ||
FM-200 System at Doc. Storage | 2100.001 | $ | 17,500 | ||
New Lighting at New Office Area and Huddle Rooms etc. | 2600.001 | $ | 243,750 | ||
New Decorative Lights (Board room etc.) | 2600.001 | $ | 52,500 | ||
New 120v Electrical for New Labs | 2600.001 | $ | 8,500 | ||
New Electrical for Cubes (increase circuit count from original office layout) | 2600.001 | $ | 11,000 | ||
Tele/Data/Audio Visual Drops | 2700.001 | $ | 54,000 | ||
Fitout new IDF Rooms (assume 1 per floor) | 2700.001 | $ | 27,500 | ||
Cell Booster | 2700.001 | $ | 75,000 | ||
Plumbing - New sink at Kitchen Sink at B line and Wellness rooms | 2200.001 | $ | 11,000 | ||
Replace Damage Ceiling Tiles (for new data/elec. drops to cubes etc.) | 0950.001 | $ | 8,775 | ||
Re-Install Millwork per Plans | 0620.001 | $ | 7,000 | ||
New Drywall at Communicating Stairs (5th floor work) | 0920.001 | $ | 9,120 | ||
New Drywall at New Offices and Labs etc. | 0920.001 | $ | 459,000 | ||
Soffits for Glazing etc. | 0920.001 | $ | 24,640 | ||
Install Existing Storefronts and Office Doors | 0880.001 | $ | 64,800 | ||
Install New Glazing System | 0880.001 | $ | 29,400 | ||
Dedicated Clean Up Laborer | 0920.001 | $ | 57,000 | ||
Final Cleaning | 0170.001 | $ | 13,000 | ||
Misc. Specialties at New Offices | 1000.001 | $ | 11,250 | ||
New Interior Signage at 4th floor | 1010.001 | $ | 23,555 | ||
Fabric Wall Panels | 0920.001 | $ | 14,000 | ||
Drywall Ceiling and Soffits | 0920.001 | $ | 65,700 | ||
New Blocking Etc. for New Shades | 0920.001 | $ | 24,000 | ||
Graphic Wall Paper | 0990.001 | $ | 24,000 | ||
New Drywall (undefined at this time) | 0920.001 | $ | 16,000 | ||
New Painting at New Walls | 0990.001 | $ | 65,740 | ||
Paint - Refresh all Remaining Walls | 0990.001 | $ | 27,350 | ||
Misc. Carpet and New Flooring / Replacement | 0960.001 | $ | 231,040 | ||
New Tile Back Splashes | 0960.001 | $ | 3,500 | ||
New Ceilings at Stairs | 0950.001 | $ | 40,500 | ||
New Ceilings and Rework at New Walls etc. | 0950.001 | $ | 108,000 | ||
Doors and Frames - New | 0920.001 | $ | 63,800 | ||
New RH Piping and New Office/Conf. Rooms | 2300.001 | $ | 42,000 | ||
Ductwork - Modify at New Individual Offices | 2330.001 | $ | 81,000 | ||
BAS Mods - At New Office | 2500.001 | $ | 97,200 | ||
New RH Piping at New Labs | 2300.001 | $ | 18,480 | ||
Ductwork - New Ductwork at New Labs | 2330.001 | $ | 36,960 | ||
BAS Mods - At New Labs | 2500.001 | $ | 50,750 | ||
Plumbing - New gases and plumbing at new labs | 2200.001 | $ | 90,750 | ||
Plumbing - Switchover Manifolds | 2200.001 | $ | 22,500 | ||
Testing and Balancing at New Offices / Rooms | 2305.001 | $ | 23,555 | ||
Electrical - FA/LSS | 2600.001 | $ | 34,250 | ||
Sound Masking System | 2600.001 | $ | 56,250 | ||
UPS Batteries (new to extend life of system) | 2600.001 | $ | 50,000 | ||
Network Implementation and Backbone | 2740.001 | $ | 250,000 | ||
220V Circuits New to Labs (match equipment layout) | 2600.001 | $ | 9,600 | ||
UPS Circuits Runouts to Labs and UPS Panel | 2600.001 | $ | 14,300 | ||
Security | 2800.001 | $ | 55,760 | ||
New Lab Casework | 1230.001 | $ | 96,250 | ||
Reception - Upgrade to Flooring | 0960.001 | $ | 25,000 | ||
Custom - Reception Desk (Wood Only, desk with Furniture) | 0620.001 | $ | 37,500 | ||
Upgrade to Custom Boardroom - Ductwork | 2330.001 | $ | 50,000 | ||
Upgrade to Custom Boardroom - Drywall Ceiling Details and Soffits | 0920.001 | $ | 15,000 | ||
Upgrade to Custom Boardroom - Flooring | 0960.001 | $ | 15,000 | ||
New Sunshades per P&W (required) | 1000.001 | $ | 117,000 | ||
Upgrade Shades at Boardroom and CEO Office to Molorized | 1000.001 | $ | 30,000 | ||
New Autoclave | 1164.001 | $ | 65,000 | ||
New BSC's for Labs | 1153.001 | $ | 176,000 | ||
$ | — | ||||
$ | 3,610,006 | ||||
