AMENDMENT NO. 1 TO SUBLEASE
Exhibit 10.2
AMENDMENT NO. 1 TO SUBLEASE
This Amendment No. 1 to Sublease (“Amendment”) is made and entered into as
of April 2, 2007 (“Effective Date”) by and between Micromet, Inc., a Delaware corporation
(“Sublandlord”), and Genoptix, Inc., a Delaware corporation (“Subtenant”).
RECITALS
A. Sublandlord (as successor to CancerVax Corporation) and Subtenant are parties to that
certain Amended and Restated Sublease Agreement dated as of May 1, 2006 (“Sublease”) pursuant to
which Sublandlord subleases to Subtenant and Subtenant subleases from Sublandlord approximately
46,527 square feet at 0000 Xxxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxxxx (“Existing Subleased Premises”).
B. Sublandlord and Subtenant wish to amend the Sublease in order to expand the size of the
Subleased Premises by the addition of approximately 15,091 square feet on the second floor of the
Building (“Expansion Space”) and to modify the Sublease as set forth herein.
C. Unless otherwise defined herein, all capitalized terms have the meanings assigned to them
in the Sublease.
Therefore, for consideration received, the parties agree as follows:
1. Expansion Space Commencement Date. The term of the Sublease as to the Expansion Space (the
“Expansion Space Term”) shall commence on the later of (i) May 1, 2007, or (ii) the date the Master
Landlord delivers its written consent to the Amendment to Sublandlord (the “Expansion Space
Commencement Date”), and shall expire on the Expiration Date. Commencing on the Expansion Space
Commencement Date, all references to the term “Term” in the Sublease shall be deemed to include and
refer to the Expansion Space Term. Upon receipt of the Master Landlord’s written consent to this
Amendment, Subtenant shall have the right to early occupancy of the Expansion Space upon all of the
terms and conditions of the Sublease, except that Subtenant shall not be required to pay Base Rent
on the Expansion Space until the Expansion Space Commencement Date.
2. Expansion Space. Commencing on the Expansion Space Commencement Date, the term “Subleased
Premises” as used in the Sublease shall be deemed to include the Existing Subleased Premises and
the Expansion Space as shown on Exhibit A of this Amendment, and the Subleased Premises shall
comprise of a total of 61,618 rentable square feet.
3. Base Rent. Commencing on the Expansion Space Commencement Date, Base Rent under the
Sublease shall be as set forth on Exhibit B (which shall replace Exhibit C to the Sublease in its
entirety). The first full month’s Base Rent for the Expansion Space in the amount of $22,334.68
shall be due and payable upon Subtenant’s execution of this Amendment.
4. Abatement of Base Rent. Notwithstanding the Base Rent schedule attached to this Amendment
as Exhibit B, Base Rent in the amount of $30,000.00 shall be abated from Base
Rent first coming due for the Expansion Space in the second (2nd) full month of the
Expansion Space Term and partially in the third (3rd) full month of the Expansion Space
Term.
5. Subtenant’s Share. Commencing on the Expansion Space Commencement Date, Subtenant’s Pro
Rata Share of Reimbursable Expenses shall be one hundred percent (100%). Any utility and service
contracts in the name of Sublandlord relating to services provided by third parties in or for the
Subleased Premises shall be cancelled, or if requested by Subtenant in writing, assigned to
Subtenant. The parties shall coordinate such cancellation or assignment such that there is no
interruption in services desired to be continued by Subtenant.
6. Right of First Refusal. The parties have entered into this Amendment in connection with
Subtenant’s exercise of its Right of First Refusal under Section 5 of the Sublease. Effective as of
the date of this Amendment, Section 5 of the Sublease is hereby deleted in its entirety and of no
further force and effect.
7. Maintenance of the Building. The first sentence of Section 9.3 of the Sublease is hereby
deleted. As the sole occupant of the Premises, Subtenant agrees to perform all Sublandlord’s
maintenance obligations as “Tenant” as provided in Section 7.1 of the Master Lease and which accrue
on and after the Expansion Space Commencement Date.
8. As Is. Subtenant is accepting the Expansion Space AS IS and WITH ALL FAULTS, subject to
Section 10 below; provided, however, Sublandlord shall deliver the Expansion Space
to Subtenant in broom-clean condition and with all plumbing, mechanical, electrical lighting and
other buildings systems within the Expansion Space in good working order. Subject to the foregoing,
Sublandlord has no obligation to modify, alter or improve the Expansion Space.
9. Parking. As of the Expansion Space Commencement Date, Subtenant shall be entitled to use
all of Sublandlord’s parking rights, and the use of 210 parking spaces, as set forth in the Master
Lease.
10. Furniture, Fixtures and Equipment. The Sublandlord’s furniture, fixtures and equipment
currently located within the Expansion Space and identified in Exhibit C to this Amendment shall be
added to the FF&E provided to Subtenant pursuant to Section 9.8 of the Sublease, at no additional
charge. Subtenant acknowledges that certain furniture owned by an executive of the Sublandlord is
not included in FF&E, and Sublandlord shall remove such furniture from the Expansion Space and
repair any damage caused by such removal prior to the Expansion Space Commencement Date, all at
Sublandlord’s sole cost and expense. Prior to the Expansion Space Commencement Date, the parties
shall prepare a supplement to Exhibit E to the Sublease and attach it to this Amendment as Exhibit
C.
11. Other Modifications of Sublease. As of the Expansion Space Commencement Date, the entirety
of Section 9.11 is hereby deleted and all provisions relating to and references to the terms
“Second Floor Space” and “Second Floor Occupant” therein are hereby deleted from the Sublease.
12. Signage. Section 9.12 of the Sublease is hereby deleted in its entirety and replaced with
the following: “Subject to Section 34 of the Master Lease, Subtenant shall be
2
allowed external monument signage and all other signage as is approved by Sublandlord and Master
Landlord and permitted under the terms of the Master Lease. Sublandlord’s approval of such signage
shall not be unreasonably withheld, conditioned or delayed.”
13. Leasing Commissions. Each party hereby warrants to the other party that it has had no
dealing with any finder, broker or agent in connection with this Amendment other than Xxxxxxx Real
Estate representing Sublandlord, and Xxxxxx Xxxxxx representing Subtenant. All lease commissions
due to the foregoing brokers shall be paid by Sublandlord pursuant to separate written agreement.
Each party hereby agrees that it shall indemnify, defend and hold harmless the other party from and
against any and all costs, expenses or liability for commissions or other compensation or charges
claimed by any other finder, broker or agent based upon dealings with the indemnifying party with
respect to this Amendment.
14. Ratification of Sublease. The Sublease, as amended by this Amendment, is hereby ratified
by Sublandlord and Subtenant, and Subtenant and Sublandlord hereby agree that the Sublease, as so
amended, shall continue in full force and effect. Each of Sublandlord and Subtenant hereby
represents and warrants to the other that, as of the date hereof, (a) it has full power and
authority to enter into and perform its obligations hereunder; and (b) to its knowledge, it is not
in default of any of its obligations under the Sublease.
15. Miscellaneous.
(a) Voluntary Agreement. The parties have read this Amendment, and on the advice of counsel
they have freely and voluntarily entered into this Amendment.
(b) Attorneys’ Fees. If either party commences an action against the other party arising out
of or in connection with this Amendment, the prevailing party shall be entitled to recover from the
losing party reasonable attorneys’ fees and costs of suit.
(c) Successors. This Amendment shall be binding on and inure to the benefit of the parties and
their successors.
(d) Counterparts. This Amendment may be signed in two or more counterparts. When at least one
such counterpart has been signed by each party, this Amendment shall be deemed to have been fully
executed, each counterpart shall be deemed to be an original, and all counterparts shall be deemed
to be one and the same agreement.
3
In Witness Whereof, the parties hereto have executed this Amendment No. 1 to
Sublease as of the date first above written.
SUBLANDLORD: | SUBTENANT: | |||||||||||||
MICROMET, INC, a Delaware corporation | GENOPTIX, INC., a Delaware corporation | |||||||||||||
By: | By: | |||||||||||||
Its: | SVP, General Counsel | Its: | PRESIDENT & CEO |
4
Exhibit A
Expansion Space
Exhibit B
Monthly Base Rent Schedule
Existing | ||||||||||||
Period | Subleased Premises | Expansion Space | Total | |||||||||
Expansion Space Commencement
Date through June 30, 2007 |
$ | 81,422.25 | $ | 22,334.68 | $ | 103,756.93 | ||||||
July 1, 2007 to June 30, 2008 |
$ | 83,864.92 | $ | 22,334.68 | $ | 106,199.60 | ||||||
July 1, 2008 to June 30, 2009 |
$ | 86,380.87 | $ | 23,004.72 | $ | 109,385.59 | ||||||
July 1, 2009 to June 30, 2010 |
$ | 88,972.29 | $ | 23,694.86 | $ | 112,667.15 | ||||||
July 1, 2010 to June 30, 2011 |
$ | 91,641.46 | $ | 24,405.71 | $ | 116,047.17 | ||||||
July 1, 2011 to June 30, 2012 |
$ | 94,390.70 | $ | 25,137.88 | $ | 119,528.58 |
Exhibit C
Furniture, Fixtures and Equipment
within Expansion Space
within Expansion Space
(1) Boardroom with built-ins:
(22) Chairs
(1) Conference Table
(1) Podium
(1) Overhead Proxima
(1) Conference Table
(1) Podium
(1) Overhead Proxima
(3) Conference Rooms, 2 furnished (1 with built-ins), 1 unfurnished
(12) Chairs
(2) Conference Tables
(2) Conference Tables
(3) Empty Cubicles
(19) Furnished Cubicles
(19) Furnished Cubicles
(4) Empty Offices
(28) Sets of Office Furniture (inc IT lab with built-ins)
(1) Executive Office Unfurnished
(2) Empty Storage Rooms
(1) IT IDF Room
(1) Xxxx Xxxxxx Monitoring system w/cpu, monitor and keyboard in IT IDF room.
(2) Kitchen areas with built-ins
(28) Sets of Office Furniture (inc IT lab with built-ins)
(1) Executive Office Unfurnished
(2) Empty Storage Rooms
(1) IT IDF Room
(1) Xxxx Xxxxxx Monitoring system w/cpu, monitor and keyboard in IT IDF room.
(2) Kitchen areas with built-ins
(3) Polycoms
Metal filing cabinets
All attached casework and cabinetry
1.