1
EXHIBIT 10.16
FIRST AMENDMENT, DATED 1 DECEMBER 1996, TO LEASE AGREEMENT
BETWEEN FORT WASHINGTON REALTY TRUST AND VERTEX PHARMACEUTICALS INCORPORATED
DATED 1 MARCH 1993
Fort Washington Realty Trust and Vertex Pharmaceuticals Incorporated hereby
agree to amend the current lease on 000 Xxxxxx Xxxxxx, Xxxxxxxxx, dated 1 March
1993, as follows:
page 1, Section 1.1; page 2, Section 2; and page 2 & 3, Section 3.1; Extension
of original term:
Term: 1 February 1997 through 31 December 1998
Rent: 15,750 sq ft at $15.24/sq ft/yr=$240,000/yr=$20,000/month
page 36, Section 11.10: Option to extend beyond first extension:
Tenant's option to Extend: 1 January 1999 through 31 December 2000, at a rent
of 15,750 sq ft at $18.00/sq ft/yr=$283,500/yr=$23,625/month
Triple-net of all taxes, insurance, utilities, and operating expenses.
All other provisions of said lease shall remain unchanged
Signatories certify that they are empowered to commit their respective
organization in matters pertaining to this agreement, executed in December 1996
LESSOR: LESSEE:
/s/ XXXXX X. XXXX
/s/ XXXXXXXXX X. XXXX /s/ XXXXXXX X. XXXXXXX
------------------------------ -----------------------------------
Fort Washington Realty Trust Vertex Pharmaceuticals Incorporated
By: Xxxxx X. Xxxx, Trustee By: Xxxxxxx X. Xxxxxxx
Xxxxxxxxx X. Xxxx, Trustee Senior VP, Chief Business Officer
Date: 18 Jan 1996 Date: 16 Dec 1996