Exhibit 10.2

FIRST AMENDMENT TO

SUBLEASE AGREEMENT

This FIRST AMENDMENT TO SUBLEASE AGREEMENT (this “Amendment”) is made and
entered into effective as of this             day of February, 2017, by and
between NXP USA, Inc. a Delaware corporation (hereinafter referred to as
“Sublandlord”), and Everspin Technologies, Inc., a Delaware corporation
(hereinafter referred to as “Subtenant”).

RECITALS:

WHEREAS, VWP-BV CM 5670, LLC, a Delaware limited liability company (“Master
Landlord”), and Sublandlord, as successor in interest to NXP Semiconductors USA,
Inc., a Delaware corporation, entered into that certain Lease dated June 23,
2014 (the “Lease”) regarding the lease of certain premises located at 5670 West
Chandler Blvd., Chandler, Arizona 85226, as more particularly described in the
Lease (the “Premises”); and

WHEREAS, Sublandlord and Subtenant entered into that certain Sublease Agreement
(the “Sublease”) dated effective January 31, 2017, whereby Subtenant subleased
from Sublandlord approximately 6,560 square feet out of the first floor of the
Premises as more particularly identified therein (the “Original Subleased
Premises”).

WHEREAS, capitalized terms used in this Amendment and not otherwise defined will
have the same meaning as given to them in the Sublease.

WHEREAS, the parties desire to amend the Sublease in accordance with the terms
and conditions of this Amendment.

NOW, THEREFORE, in consideration of the foregoing premises, the mutual promises
hereinafter made and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

1. Expansion of the Premises. Effective as of March 1, 2017 (the “Expansion
Effective Date”), the term “Subleased Premises” shall mean both the Original
Subleased Premises and those certain premises consisting of approximately 3,463
rentable square feet located adjacent to the Existing Subleased Premises (the
“Expansion Premises”). The Existing Subleased Premises together with the
Expansion Premises are depicted on Exhibit A attached hereto. Except as
expressly set forth otherwise herein, the Expansion Premises shall be subject to
the same terms and conditions as the Original Subleased Premises, as set forth
in the Sublease. For clarification, the initial Term (with respect to the entire
Premises) expires on January 31, 2022, and Subtenant’s option to renew the Term,
set forth in Section 2 of the Sublease, must be exercised with respect to the
entire Subleased Premises. From and after the Expansion Effective Date, the Base
Rent for the Expansion Premises for the initial Term shall be as set forth
below:

 

First Amendment to Sublease Agreement

Page 1 of 7

AUS-6315860-5 6050961/91

--------------------------------------------------------------------------------

Lease Month

  

Annual Base Rent for Expansion Premises

   Monthly Base Rent for
Expansion Premises  

March 1, 2017-May 31, 2017

   $0.00 per rentable square foot    $ 0.00  

April 1, 2017-February 28, 2018

   $18.00 per rentable square foot    $ 5,194.50  

March 1, 2018-February 28, 2019

   $18.50 per rentable square foot    $ 5,338.79  

March 1, 2019-February 29, 2020

   $19.00 per rentable square foot    $ 5,483.08  

March 1, 2020-February 28, 2021

   $19.50 per rentable square foot    $ 5,627.38  

March 1, 2021-January 31, 2022

   $20.00 per rentable square foot    $ 5,771.67  

Sublandlord shall permit Subtenant to access the Expansion Premises prior to the
Expansion Effective Date for the purpose of making the Expansion Premises ready
for occupancy and such access shall be subject to all of the provisions of the
Sublease (other than the requirement to pay Rent); provided, however, that the
(i) consent of Master Landlord is obtained prior to such access (or any
occupancy); and (ii) Subtenant delivers to Sublandlord copies of policies of
insurance required under the Sublease or certificates evidencing the existence
and amounts of such insurance. Said early access or possession shall not advance
the expiration date of the Term.

2. Furniture. Sublandlord shall leave the furniture located in the Expansion
Premises as of the Expansion Effective Date for Subtenant’s use (the
“Furniture”). Sublandlord shall have no duty to repair or replace the Furniture
during the Term of the Sublease, and Sublandlord makes no representation or
warranty as to the quality or condition of the Furniture.

3. Sublandlord Construction. Within three (3) months after the Expansion
Effective Date, Sublandlord shall install one demising wall in the location
shown on Exhibit B attached hereto. Subtenant shall, at no cost to Subtenant,
cooperate with Sublandlord as needed to complete such installation.

4. Tenant Construction. For clarification, if Subtenant desires to install a
break room, kitchenette and/or IDF closet in the Subleased Premises, such
alterations shall be subject to Section 11 of the Sublease.

5. Master Landlord Consent. Sublandlord and Subtenant each acknowledge and agree
that this Amendment is subject to and conditioned upon the Sublandlord obtaining
the prior written consent of Master Landlord in accordance with the terms of the
Lease.

6. Full Force and Effect. Except as expressly amended by this Amendment, all
terms and conditions of the Sublease remain unmodified, in full force and
effect.

7. Broker. The parties acknowledge that they have not dealt with any broker or
finder in connection with this Amendment, except Mike Shellow, agent for CBRE
(“Broker”), and Jim Sadler, agent for Keyser (“Subtenant’s Broker”). Sublandlord
agrees to pay, pursuant to a separate agreement, any commissions due to Broker
and Subtenant’s Broker arising in connection with this

 

First Amendment to Sublease Agreement

Page 2 of 7

AUS-6315860-5 6050961/91

--------------------------------------------------------------------------------

Amendment. Sublandlord and Subtenant hereby represent and warrant each to the
other that they have not employed any agents, brokers or other such parties in
connection with this Amendment, other than Broker and Subtenant’s Broker, and
each agrees that they shall indemnity and hold the other harmless from and
against any and all claims of all other agents, brokers or other such parties
claiming by, through or under the respective indemnifying party in connection
with this Amendment.

8. Authority. Each party represents and warrants that it has due power and
lawful authority to execute and deliver this Amendment and to perform its
obligations hereunder; and the Sublease and this Amendment are the valid,
binding and enforceable obligations of such party.

 

First Amendment to Sublease Agreement

Page 3 of 7

AUS-6315860-5 6050961/91

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals
the day and year first above written.

 

SUBLANDLORD: NXP USA, INC. a Delaware corporation By:  

/s/ Katherine Haight

Name:   Katherine Haight Title:   Authorized Representative Date:   February 13,
2017 SUBLANDLORD: NXP USA, INC. a Delaware corporation By:  

/s/ Jeff Winzeler

Name:   Jeff Winzeler Title:   CFO Date:   02/09/17

 

First Amendment to Sublease Agreement

Page 4 of 7

AUS-6315860-5 6050961/91

--------------------------------------------------------------------------------

CONSENT OF LANDLORD TO AMENDMENT TO SUBLEASE

VWP-BV CM 5670, LLC, a Delaware limited liability company (“Master Landlord”)
hereby consents to the terms and conditions of that certain First Amendment to
Sublease Agreement by and between NXP USA, Inc., a Delaware corporation
(“Sublandlord”) and Everspin Technologies, Inc., a Delaware corporation
(“Subtenant”), subject to the terms and conditions set forth in that certain
Consent of Landlord to Sublease attached to the Sublease.

 

MASTER LANDLORD: VWP-BV CM 5670, LLC, a Delaware limited liability company   By:
VWP-BV 1 Chandler Midway, LLC, a Delaware limited liability company, Sole Member
  By: VWP Chandler Midway Manager, LLC, an Arizona limited liability company,
Manager   By: ViaWest Properties, LLC, an Arizona limited liability company, its
Manager By:  

/s/ Steven R. Schull

Name:   Steven R. Schull Title:   Manager Date:   3/10/17

 

First Amendment to Sublease Agreement

Page 5 of 7

AUS-6315860-5 6050961/91

--------------------------------------------------------------------------------

EXHIBIT A

THE SUBLEASED PREMISES

The space identified as “Area 1” on the attached exhibit.

 

First Amendment to Sublease Agreement

Page 6 of 7

AUS-6315860-5 6050961/91

--------------------------------------------------------------------------------

LOGO [g365467g0327051857147.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051857357.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051857557.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051857767.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051857967.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051858167.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051858487.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051858687.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051858887.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051859077.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051859287.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051859477.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051859687.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051859877.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051900077.jpg]

--------------------------------------------------------------------------------

LOGO [g365467g0327051900277.jpg]

--------------------------------------------------------------------------------

EXHIBIT B

THE DEMISING WALL

See attached

 

First Amendment to Sublease Agreement

Page 7 of 7

AUS-6315860-5 6050961/91

--------------------------------------------------------------------------------

LOGO [g365467g0327051900477.jpg]