FIRST AMENDMENT TO LEASE
Exhibit 10.14
FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE (this “First Amendment”) is made as of January 4, 2022, by and between ARE-MA REGION NO. 87 TENANT, LLC, a Delaware limited liability company (“Landlord”), and VERVE THERAPEUTICS, INC., a Delaware corporation (“Tenant”).
RECITALS
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:
“Premises: Those portions of the Building consisting of (a) the entire 2nd floor of the Building, commonly known as Suite 201, containing approximately 21,104 rentable square feet, (b) the entire 6th floor of the Building, commonly known as Suite 601, containing approximately 41,662 rentable square feet, (c) the entire 7th floor of the Building, commonly known as Suite 701, containing approximately 41,585 rentable square feet, (d) a portion of the first floor of the Building, commonly known as Suite S113, containing approximately 371 rentable square feet of chemical storage space, and (e) mechanical space in a portion of the penthouse floor of the Building, commonly known as (i) Suite S1501, containing approximately 250 rentable square feet, and (ii) Suite S1502, containing
approximately 210 rentable square feet, all as determined by Landlord, all as shown on Exhibit A.”
“Rentable Area of Premises: 105,182 sq. ft.”
“Tenant’s Share of Operating Expenses of Building: 20.51%”
As of the date hereof, Exhibit A to the Lease shall be deleted in its entirety and replaced with Exhibit A attached to this First Amendment. For avoidance of doubt, notwithstanding the fact that the Rentable Area of the Premises is being amended by this First Amendment, the amount of the Security Deposit set forth on page 1 of the Lease shall remain unmodified.
“(d) Excess TI Costs. Landlord shall have no obligation to bear any portion of the cost of any of the Tenant Improvements except to the extent of the TI Allowance. If at any time and from time-to-time, the remaining TI Costs under the Budget exceed the remaining unexpended TI Allowance (“Excess TI Costs”) monthly disbursements of the TI Allowance shall be made on a “pari passu” basis in the proportion that the remaining TI Allowance bears to the outstanding TI Costs under the Budget, and Tenant shall fund the balance of each such monthly draw. For purposes of any litigation instituted with regard to such amounts, those amounts will be deemed Rent under the Lease. The TI Allowance and Excess TI Costs are herein referred to as the “TI Fund.” Notwithstanding anything to the contrary set forth in this Section 5(d), Tenant shall be fully and solely liable for TI Costs and the cost of Minor Variations in excess of the TI Allowance.”
Furthermore, any requirements in the Work Letter requiring Tenant to deposit 100% of the Excess TI Costs with Landlord as a condition precedent to Landlord’s obligation to fund the TI Allowance shall be null and void and of no further force or effect.
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[Signatures of following page]
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IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the day and year first above written.
LANDLORD: |
ARE-MA REGION NO. 87 TENANT, LLC, |
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a Delaware limited liability company |
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By: |
ARE-MA REGION NO. 87, LLC, |
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a Delaware limited liability company, |
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managing member |
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By: |
ARE-MA REGION NO. 87 MM, LLC, |
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a Delaware limited liability company, |
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managing member |
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By |
ALEXANDRIA REAL ESTATE |
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EQUITIES, L.P., |
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a Delaware limited partnership, |
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managing member |
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By: |
ARE-QRS CORP., |
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a Maryland corporation, |
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general partner |
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By: |
/s/ Xxxxxxx Xxxxxxxx |
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Its: |
SVP – Real Estate Legal Affairs |
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TENANT: |
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a Delaware corporation |
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By: |
/s/ Xxxxxx Xxxx |
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Its: |
President & COO |
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☒ I hereby certify that the signature, name, and title above are my signature, name and title. |
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