Exhibit 10.17
SECOND AMENDMENT TO SUBLEASE
This Second Amendment to Sublease (the "Second Amendment") is entered into
as of March 21, 2000 by and between Genzyme Corporation, a Massachusetts
corporation (the "Sublessor") and Dyax Corp., a Delaware corporation (the
"Sublessee"). The effective date of this Second Amendment is January 1, 2000.
Capitalized terms used herein and not otherwise defined shall have the meaning
given to them in the Sublease (as defined below).
WHEREAS, a Sublessor and Sublessee entered into a Sublease dated September
21, 1996 (the "Sublease") with respect to premises consisted of approximately
16,183 square feet located in the Fifth Floor of Building 600 at Xxx Xxxxxxx
Xxxxxx, Xxxxxxxxx, Xxxxxxxxxxxxx;
WHEREAS, Sublessor and Sublessee amended the Sublease pursuant to a Letter
Agreement dated as of January 23, 1998 with an effective date of December 31,
1997; and
WHEREAS, Sublessor and Sublessee wish to further amend certain provisions
of the Sublease, as amended.
NOW THEREFORE, in consideration for the foregoing premises and the
following covenants and promises, the parties agree and acknowledge as follows:
1. The expiration date of the Sublease is hereby extended from December
31, 1999, through and including June 30, 2001 (such extension period is referred
to as the "Extended Term").
2. Sublessee shall have the option to extend the Extended Term for six (6)
additional one month periods commencing on July 1, 2001 (each such additional
one month period is referred to as an "Option Term"). Not less than ten (10)
days prior to the expiration of the Extended Term or any Option Term, Sublessee
shall provide Sublessor with written notice of its intention to either (i)
terminate the Sublease at the end of the Extended Term or the Option Term, or
(ii) continue the Sublease for the next Option Term. In no event shall Sublessee
have the right to extend the Term of the Sublease beyond December 31, 2001.
3. The Rent payable by the Sublessee to Sublessor for the Premises shall
be $647,320 per annum ($40.00 per square foot or $53,943.33 per month).
4. Except as specifically amended hereby, the Sublease remains unchanged
and in full force and effect.
5. This Second Amendment shall not be effective until and unless Prime
Lessor has given its consent hereto. Sublessor shall not be responsible for the
failure of Prime Lessor to consent to this Second Amendment.
IN WITNESS WHEREOF, this Second Amendment has been executed as of the date
first set forth above.
Sublessor:
GENZYME CORPORATION
By: /s/ Xxxxx Xxxxxxxxx
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Name:
Title:
Subtenant:
DYAX CORP.
By: /s/ Xxxxx X. Xxxxx
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Name:
Title:
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