FIRST AMENDMENT TO LEASE
This First Amendment to Lease (the First Amendment) is made as of May 18, 2017, by and between ARE-TECH SQUARE, LLC, a Delaware limited liability company (Landlord), and WARP DRIVE BIO, INC., a Delaware corporation (Tenant), formerly known as WARP DRIVE BIO, LLC, a Delaware limited liability company.
A. Landlord and Tenant are parties to that certain Lease Agreement dated as of August 22, 2012 (the Lease), wherein Landlord leases to Tenant certain premises containing approximately 21,621 rentable square feet (the Premises) located at 400 Technology Square, Cambridge, Massachusetts, 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 Base Term of the Lease is scheduled to expire on February 28, 2018.
C. Tenant has timely exercised its Extension Right pursuant to Section 39 of the Lease.
D. Landlord and Tenant desire to amend the Lease to, among other things, extend the term of the Lease through February 28, 2023 (the First Amendment 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:
|1. || |
Term. The expiration date of the term of the Lease is hereby extended through the First Amendment Expiration Date. Tenants occupancy of the Premises through the First Amendment Expiration Date shall be on an as-is basis and Landlord shall have no obligation to provide any tenant improvement allowance or to make any alterations to the Premises.
|2. || |
Base Rent. Tenant shall continue to pay Base Rent as provided in the Lease through February 29, 2018. Commencing on March 1, 2018, Base Rent shall be payable pursuant to the following schedule:
| || || || || || || || |
| ||Base Rent |
$/ RSF per year:
| || ||Base Rent |
| ||$ ||74.50 || || ||$ ||134,230.38 || |
| ||$ ||76.74 || || ||$ ||138,257.29 || |
| ||$ ||79.04 || || ||$ ||142,405.00 || |
| ||$ ||81.41 || || ||$ ||146,677.15 || |
| ||$ ||83.85 || || ||$ ||151,077.47 || |