EXHIBIT 10.15
LEASE TERMINATION AGREEMENT
THIS LEASE TERMINATION AGREEMENT is made this November 1999 by and between
Massachusetts Institute of Technology ("Lessor"), and Transcend Therapeutics,
Inc., formerly known as Free Radical Sciences, Inc. ("Lessee").
WITNESSETH
WHEREAS Lessor and Lessee did make and execute that certain Lease dated October
28, 1994 and as amended by the First Amendment to Lease dated June 14, 1998
covering premises in the building known as 000 Xxxxxxxx Xxxxx, Xxxxxxxxx.
WHEREAS Lessor and Lessee desire to alter and modify said Lease to provide for
early expiration of the Term of the Lease.
WHEREAS the Lessor provides to Lessee a complete and full release of obligations
under its Lease at 000 Xxxxxxxx Xxxxx, Xxxxxxxxx, Xxxxxxxxxxxxx, effective
January 1, 1999, subject to provisions specified below.
NOW THEREFORE, in consideration of the foregoing and the mutual benefits to be
derived from the performance hereof, the parties agree as follows:
1. The Term of the Lease shall expire at midnight December 31, 1998, as if the
term of the Lease had originally been scheduled to come to an end on that
date.
2. [PROVISION CROSSED OUT AND INITIALED BY THE PARTIES]
3. Lessee agrees to pay to the Lessor a sum of $4,000.00 as a fee to yield and
give up the Common Stock Purchase Warrant, dated October 28, 1994, to
purchase 25,000 shares of Free Radical Sciences Inc., now known as Transend
Therapeutics Inc. common stock.
4. This Agreement shall be governed by the laws of Massachusetts, shall take
effect as a sealed instrument and shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns.
5. Lessee agrees to yield and give up all parking at 000 Xxxxxxxx Xxxxx and
Basement storage effective December 31, 1998.
IN WITNESS WHEREOF, the parties executed this Lease Termination Agreement as
of the date first above written.
WITNESS: LESSOR:
/s/ [illegible] MASSACHUSETTS INSTITUTE OF TECHNOLOGY
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By: /s/ Xxxxxx X. Xxxxxxxx
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Xxxxxx X. Xxxxxxxx
Director of Real Estate
Date: 11/6/98
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WITNESS: LESSEE:
/s/ Xxxxxx Xxxxxxx TRANSCEND THERAPEUTICS, INC.
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Xxxxxx Xxxxxxx
By: /s/ B. Xxxxxxxx Xxxxxx
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B. Xxxxxxxx Xxxxxx
Chief Financial Officer
Hereunto duly authorized
Date: 11/2/98
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