FIRST AMENDMENT TO LEASE AGREEMENT
This First Amendment to Lease Agreement (this Amendment) is executed as of July 24, 2020 (the Effective Date), between PARMER RTP, LLC, a Delaware limited liability company (Landlord), and SHATTUCK LABS, INC., a Delaware corporation (Tenant).
A. Reference is herein made to that certain Lease Agreement dated as of April 17, 2018, between Landlord and Tenant (the Lease). Capitalized terms used but otherwise not defined in this Amendment shall have the meaning ascribed to such terms in the Lease.
B. Pursuant to the terms of the Lease, Tenant is currently leasing Suite No. 200, containing approximately 13,523 rentable square feet (the Existing Premises) in the office building commonly known as Building 15 located at 5 Moore Drive, Durham, North Carolina (the Building).
C. Tenant desires to lease the additional space depicted on Exhibit A hereto, consisting of approximately 10,929 rentable square feet, designated as Tenant A and Tenant C space on Exhibit A (the Initial Expansion Premises), and approximately 7,786 rentable square feet, designated as Tenant B space on Exhibit A (the Must-Take Expansion Premises, and together with the Initial Expansion Premises, the Expansion Premises), and Landlord has agreed to lease such space to Tenant on the terms and conditions contained herein.
D. In addition, due to a scriveners error, the Basic Lease Information of the Lease incorrectly stated the rentable square footage of the Building as 45,359 rentable square feet, rather than 43,616 rentable square feet. Landlord and Tenant also desire to amend the Lease to correct such scriveners error.
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
1. Recitals. The recitals set forth above are true and correct and are hereby incorporated in their entirety.
2. Building. The rentable square footage of the Building set forth in the Basic Lease Information of the Lease is hereby deleted and revised to read 43,616 rentable square feet.
3. Expansion Premises; Tenants Proportionate Share; Acceptance. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Expansion Premises on the terms and conditions of the Lease, as modified hereby. Accordingly, from and after the Initial Expansion Effective Date (defined below), the term Premises shall refer collectively to the Existing Premises and the Initial Expansion Premises, and, except as otherwise provided herein, Tenants Proportionate Share shall be increased to 56.06%, which is the percentage obtained by dividing the number of rentable square feet in the Premises (24,452) by the number of rentable square feet in the Building (43,616). In addition, from and after the Must-Take Expansion
First Amendment to Lease Agreement - Page 1