EXHIBIT 10.5
SEQUENOM letterhead
SUBLEASE
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PARTIES: This Sublease, dated December 17, 2001, is made between Sequenom, Inc,
("Sublessor"), and Microislet, Inc, ("Sublessee").
DESCRIPTION OF PREMISES: Approximately 4,530 square feet of lab and office space
on the west side of the first floor, located at 00000 Xxxxxxxx Xxxxxx Xxxx, Xxx
Xxxxx, Xxxxxxxxxx, 00000.
COMMENCEMENT DATE OF THIS SUBLEASE: January 1, 2002
LEASE TERM: Twelve (12) months beginning on the Commencement Date (January 1,
2002) and ending on December 31, 2002. Sublessee shall have the option to renew
this Sublease for one (1) additional year, provided that Sublessee gives
Sublessor notice of the same, in writing, prior to January 1, 2003, and provided
that Sublessor has not notified Sublessee in writing before July 1, 2002 that
such Sublease is not available for renewal. At any time after July 1, 2002, and
provided that Sublessee has not exercised its option to renew as set forth in
the preceding sentence, this Sublease may be terminated by either party by
providing six (6) months written notice to the other party. The rental cost to
Sublessee shall be increased at a rate of four percent (4%) per annum, such
increase to be added to the rental cost in monthly installments.
MONTHLY RENT: $9,180 + 40% of electricity xxxx for first floor (invoiced
monthly)
$Cost breakdown: $9,060 4,530 ft2 at $2.00 / ft2 rent cost
$100 40% shared cost of DI system maintenance
$20 Water softener maintenance cost
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$9,180 $Monthly Rent Total
SECURITY DEPOSIT: $9,180
Sublessee agrees that all terms and conditions of Sublessor's master lease,
dated September 23, 1999, with Sorrento Business Complex ("Lessor") (attached
hereto) that are not contrary to or inconsistent with the terms above, are
incorporated herein by reference as if fully set forth herein and are in full
force and effect and are binding upon the parties hereto to this Sublease
Agreement.
MICROISLET, INC. SEQUENOM, INC.
(SUBLESSEE) (SUBLESSOR)
/s/ X. Xxxxxxxxx 12/14/01 /s/ Xxxxxxx X. Xxxx, Xx. 12/14/01
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Authorized Signature Date Authorized Signature Date
X. Xxxxxxxxxx Xxxxxxx X. Xxxx, Xx.
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Printed Name Printed Name
SORRENTO BUSINESS COMPLEX, A LIMITED PARTNERSHIP
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(LESSOR)
by: Xxxxxxx Development Company, General Partner
/s/ Xxxxxxx Xxxxxxxx 12/19/01 /s/ Xxxxxx Xxxxxxxx 12/20/01
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Authorized Signature Date Authorized Signature Date
Xxxxxxx Xxxxxxxx Xxxxxx Xxxxxxxx
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Printed Name Printed Name
SUBLEASE AMENDMENT
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WHEREAS, SEQUIENOM, INC. ("Sublessor"), and MICROISLET, INC. ("Sublessee")
previously entered into the Sublease agreement of December 17, 2001 (the
"Sublease"); and
WHEREAS, Sublessor and Sublessee desire to amend the Sublease to provide for its
accelerated termination upon the terms and conditions set forth herein.
NOW THEREFORE, Sublessor and Sublessee mutually covenant and agree and amend the
Sublease as follows:
The Sublease is hereby amended to expire on October 15, 2002. Sublessee agrees
to vacate the leased premises by October 15, 2002 and Sublessee agrees to waive
any and all of its option rights to renew the Sublease. In consideration,
Sublessor agrees that Sublessee shall not be obligated to pay, and Sublessor
waives its right to receive, Monthly Rent (as defined in the Sublease) for the
one and one-half (1 1/2) month period from September 1, 2002 through October 15,
2002.
IN WITNESS W-HEREOF, Sublessor and Sublessee have caused this Sublease Amendment
to be executed as of the date below.
MICROISLET, INC. SEQUENOM, INC.
(SUBLESSEE) (SUBLESSOR)
/s/ X. Xxxxxxxxxx /s/ Xxxxxxx X. Xxxx, Xx.
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Authorized Signature Authorized Signature
X. Xxxxxxxxxx Xxxxxxx X. Xxxx, Xx.
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Printed Name Printed Name
6/24/02 6/25/02
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Date Date
