EXHIBIT 10.1

FIFTH AMENDMENT TO LEASE

THIS FIFTH AMENDMENT TO LEASE (the “Amendment”) dated this 19th day of August,
2014 amends that certain Lease dated July 24, 2007 and amended on November 4,
2008, March 2, 2012, June 15, 2012 and November 26, 2012 by and between BIOLIFE
SOLUTIONS, INC. (“Tenant”) and MONTE VILLA FARMS LLC (“Landlord”) (the “Lease”)
in the project known as “Monte Villa Farms” located in Bothell, Washington.

RECITALS

WHEREAS, Tenant is desirous of leasing additional square footage, and Landlord
is desirous of leasing both additional square footage to Tenant on the terms and
conditions set forth herein.

NOW, THEREFORE, in consideration of the above recitals and other good and
valuable consideration, the receipt and sufficiency of which is acknowledged by
each of the parties hereto, Landlord and Tenant agree to amend the Lease as
follows:

1.  
The fifth Whereas paragraph shall be amended to read as follows:

“WHEREAS, Tenant has leased approximately 7,169 rentable square feet of office
space as shown on Exhibit C.1 attached hereto (the "Office Expansion Premises"),
approximately 6,031 rentable square feet of the first floor of the Production
Building as shown on Exhibit C.2 attached hereto ("Clean Room Premises") and
7,561 rentable square feet in the Production Building as shown on Exhibit C.4
attached hereto (“Production Expansion Premises”), approximately 5,103 rentable
square feet of additional space of the Production Building as shown on Exhibit
C.5 (“Cleanroom Support Premises”), Tenant is desirous of leasing approximately
4,493 rentable square feet in the Office Building as shown on Exhibit C.6
attached hereto (“Second Office Expansion Premises”)  and Landlord is desirous
of leasing the Second Office Expansion Premises to Tenant on the terms and
conditions set forth herein.  The Clean Room Premises, the Office Expansion
Premises, the Production Expansion Premises, the Cleanroom Support Premises and
the Second Office Expansion Premises shall be collectively known as the “Demised
Premises”.  The revised total rentable square footage of leased space shall be
approximately 30,357 square feet, or as otherwise measured according to BOMA
standard.

2.  
Paragraph 1.1.(b) shall be added to read as follows:

“The Commencement Date for the Second Office Expansion Premises shall be upon
completion of the Tenant Improvement (to be completed by November 15, 2014),
contingent on plans being approved by the City of Bothell and shall be set forth
on a written notice from Landlord to Tenant that the Tenant Improvements are
substantially complete.
 
 
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3.  
Landlord shall allow Tenant to occupy appx 2,231 RSF on the 3rd floor, as
depicted on Exhibit E, of the Office Building (“Temporary Space”) immediately
through November 15, 2014 or completion of the Tenant Improvement, whichever is
later, with no base rent due.

4.  
Paragraph 1.2, line 4, delete “C and C.1, C.2, C.3, C.4 and C.5” and insert “C,
C.1, C.2, C.4, C.5 and C.6”.

5.  
In Paragraph 1.2, add to the end of the paragraph:

“4,493 RSF in the Second Office Expansion Premises (Exhibit C.6)”

6.  
Paragraph 1.3, line 14, delete “thirty five (35)” and insert “forty eight (48)”.

7.  
Paragraph 2.6 (a) line 3, delete “25,864” and insert “30,357”.

8.  
Paragraph 2.6(a) line 5, delete “9.14 and insert “10.94%”.

9.  
Tenant will be allowed early access for two weeks at no charge (for the spaces
added to the Lease under this expansion) for the purpose of installing cabling,
furniture or other tenant fixtures.  Tenant shall not be required to pay for
utility or elevator charges during its early access period.

10.  
Exhibit A-1 shall be replaced by Exhibit A.

11.  
Exhibit B.4 shall be replaced by Exhibit B. 5.

12.  
Exhibit D.4 shall be added, defining the Tenant Improvement for the Second
Office Expansion Premises.

Other than set forth above, all terms and conditions of the lease remain in full
force and effect. The parties hereby reaffirm and confirm such terms and
conditions.  This agreement may be executed in several counterparts, each of
which shall be an original, but all of which shall constitute one and the same
instrument.  Facsimile copies will be considered originals.

TENANT
 
BIOLIFE SOLUTIONS, INC.
a Delaware corporation
LANDLORD
 
MONTE VILLA FARMS LLC,
A Washington limited liability company
                    By: /s/ Daphne Taylor                         
 
By: /s/ Robert E. Hibbs                              
 
Name: Daphne Taylor                                             
Its:     CFO                                                                 
Name: Robert E. Hibbs
Its Manager
   

 
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EXHIBIT A to Lease

LEGAL DESCRIPTION OF PROJECT

The land referred to herein below is described as follows:

Lots A, B, C, D and E of City of Bothell Boundary Line Adjustment No.
2008-000066, recorded November 4, 2008 under Recording No. 200811045005, Records
of Snohomish County Auditor;

Situate in the City of Bothell, County of Snohomish, State of Washington.

 
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EXHIBIT B. 5

BASIC ANNUAL RENT

25,864 RSF
                   
Applicable Portion of Lease Term
 
Rate Per Rentable Sq. Ft./ Annum/NNN
   
Annual Base Rent
   
Monthly Base
 
Beginning
Ending
 
Rent Installment (Annual ÷ 12)
       
1-Aug-14
31-Jan-15
  $ 24.59     $ 635,995.76     $ 52,999.65  
1-Feb-15
31-Jul-15
  $ 22.28     $ 576,249.92     $ 48,020.83  
1-Aug-15
31-Jul-16
  $ 22.72     $ 587,630.08     $ 48,969.17  
1-Aug-16
31-Jul-17
  $ 23.18     $ 599,527.52     $ 49,960.63  
1-Aug-17
31-Jul-18
  $ 23.64     $ 611,424.96     $ 50,952.08  
1-Aug-18
31-Jul-19
  $ 24.11     $ 623,581.04     $ 51,965.09  
1-Aug-19
31-Jul-20
  $ 24.60     $ 636,254.40     $ 53,021.20  
1-Aug-20
31-Jul-21
  $ 25.09     $ 648,927.76     $ 54,077.31                                      
                   
4,493 RSF
                         
Applicable Portion of Lease Term
 
Rate Per Rentable Sq. Ft./ Annum
   
Annual Base Rent
   
Monthly Base
 
Beginning
Ending
 
Rent Installment (Annual ÷ 12)
         
15-Nov-15
31-Oct-16
  $ 18.00     $ 80,874.00     $ 6,739.50  
1-Nov-16
31-Oct-17
  $ 18.45     $ 82,895.85     $ 6,907.99  
11-Nov-17
31-Oct-18
  $ 18.91     $ 84,968.25     $ 7,080.69  
11-Nov-18
31-Oct-19
  $ 19.38     $ 87,092.45     $ 7,257.70  
11-Nov-19
31-Oct-20
  $ 19.87     $ 89,269.76     $ 7,439.15  
11-Nov-20
31-Jul-21
  $ 20.37     $ 91,501.51     $ 7,625.13  
* In months 1, 6, 58 and 60 no base rent will be due
                 

Landlord has the right to create up to 50,000 sq ft of additional space on the
Property (the “Additional Space”). The creation of the Additional Space will
reduce the Operating Expenses for the Premises (the “Additional Space Expense
Reduction”). Tenant agrees that should Landlord create the Additional Space then
the Rent shall be increased (effective as of the date of the inclusion of the
Additional Space) by the amount of any Additional Space Expense Reduction.  Such
a reduction shall be computed (within six months of the inclusion of Additional
Space) by subtracting (i) the Tenant’s Proportionate Share of the Operating
Expenses and Taxes computed after the inclusion of the Additional Space in the
square footage calculations from (ii) Tenant’s Proportionate Share of the
Operating Expenses and Taxes computed before the inclusion of the Additional
Space in the square footage calculations.  Landlord shall provide Tenant with
such computations for Tenant’s review.
 
 
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EXHIBIT C.1

OFFICE EXPANSION PREMISES
[img001.jpg]
 
 
 
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EXHIBIT C.2

CLEAN ROOM PREMISES
[img002.jpg]
 
 
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EXHIBIT C.4
PRODUCTION EXPANSION PREMISES
[img003.jpg]
 
 
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EXHIBIT C.5
CLEANROOM SUPPORT PREMISES
[img004.jpg]
 
 
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EXHIBIT C.6
SECOND OFFICE EXPANSION PREMISES
[img005.jpg]
 
 
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EXHIBIT D.4

TENANT IMPROVEMENTS

Landlord will provide a Tenant Improvement Allowance of up to $125,000 to build
out the space to a mutually agreeable space plan, based on that shown in Exhibit
4.a, and built out to a substantially similar look and quality as the Office
Expansion Premises. Landlord will perform the construction in-house, using its
architect and preferred subcontractors.
 
 
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EXHIBIT D.4.a

TI FLOORPLAN
[img006.jpg]
 
 
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EXHIBIT E

TEMP SPACE FLOORPLAN
[img007.jpg]
 
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