THIS SUBLEASE (Sublease), dated as of September 17, 2019, is made by and between CELLULAR RESEARCH, INC., a Delaware corporation (a wholly owned subsidiary of Becton, Dickinson and Company, a New Jersey corporation) (Sublessor) and SIGHT SCIENCES, INC., a Delaware corporation (Sublessee) (Sublessor and Sublessee, collectively the Parties, or individually a Party). This Sublease is and shall at all times be subject and subordinate to that certain Multi-Tenant Space Lease, dated as of July 15, 2015 (the Master Lease), by and between Sublessor, as tenant, and Deerfield Campbell, LLC, a California limited liability company (the Master Lessor), as landlord. A true and correct copy of the Master Lease is attached hereto as Exhibit A. Capitalized terms used but not defined herein shall have the meanings set forth in the Master Lease.
1. Basic Provisions (Basic Provisions)
1.1 Premises: The Premises consist of certain portions of that certain real property commonly known as 4040 Campbell Avenue, Menlo Park, located in the County of San Mateo, State of California, comprising approximately 10,823 rentable square feet and known as Suites 100 and 120. Sublessees Percentage Share is 26.09%. A diagram of the Premises is attached hereto as Exhibit B.
1.2 Term: The term of this Sublease shall commence on the later to occur of (i) October 1, 2019 or (ii) the date upon which a fully-executed consent to sublease by Master Lessor is received and the Premises are delivered to Sublessee (Commencement Date) and shall end on July 31, 2021 (Expiration Date).
1.3 Sublessor Early Termination Right: Sublessor shall have the right to terminate this sublease effective on April 30, 2021 (Termination Date), upon providing written notice to Sublessee on or before January 31, 2021. Failure to vacate by the Termination Date will cause penalties under Paragraph 15.2 of the Master Lease and Sublessee shall be fully responsible for payment of such penalties.
1.4 Base Rent: The base rent hereunder shall be $43,292.00 (equal to $4.00 per square foot per month) (the Base Rent), increasing by three percent (3%) annually commencing upon the first year anniversary of the Commencement Date.
1.5 Additional Rent. Sublessee shall pay Sublessees Percentage Share of Real Property Taxes, Landlords Real Property Insurance, Common Operating Expenses and Management Fee (together with all other monetary obligations of Sublessee due under this Sublease Additional Rent) as provided in Section 3.2 of the Master Lease (but expressly excluding Subsections (4) and (6) thereof to the extent such costs arise from Sublessors actions or omissions) in lieu of (and not in additional to) Tenants Allocated Share of Additional Rent due under the Master Lease. The initial estimated Additional Rent for calendar year 2019 shall be $9,037.21 per month, not including Pacific Gas and Electric costs.
1.6 First Months Rent and Security Deposit: Simultaneously with the execution of this Sublease, Sublessee shall deliver to Sublessor $182,205.21 in immediately available funds. Such amount is comprised of the sum of the following: $52,329.21 (representing the Base Rent plus the estimated Additional Rent for the first full month of the Sublease Term), PLUS $129,876.00 (the Security Deposit, which is equal to three (3) months of the Base Rent).
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