Exhibit 10.34

FIRST AMENDMENT TO LEASE

 

 

This First Amendment to Lease (the “First Amendment”) is entered into as of
September 9, 2015 by and between BPG ROCK WESTLAKE, LLC, a Delaware limited
liability company (“Lessor”) and ATARA BIOTHERAPEUTICS, INC., a Delaware
corporation (“Lessee”), with respect to the following facts, understandings and
agreements:

 

RECITALS

 

A.Lessor and Lessee have previously entered into that certain Office Lease,
dated as of January 7, 2015 (“Lease”), for certain premises more particularly
described in the Lease.  Capitalized terms used, and not otherwise defined,
herein shall have the meanings given those terms in the Lease.

 

B.Lessor and Lessee desire to amend the Lease in order to revise the Premises,
Term and Base Rent and in other respects as herein provided.

 

AGREEMENT

 

NOW THEREFORE, in consideration for the mutual covenants contained herein, and
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the Parties covenant and agree as follows:

 

1.  Recitals.The Recitals to this First Amendment are hereby made a part of this
agreement and incorporated herein by this reference.

 

2.  Additional Space.Lessor and Lessee hereby agree to increase the rentable
square footage (“RSF”) of the Premises to include Suite 220 (“Additional
Space”), which consists of 7,600 RSF on the second floor of 4360 Park Terrace
Dr. located at the Project. The Additional Space, as more particularly described
in Exhibit A, attached hereto and incorporated by reference, shall be delivered
to Lessee and become effective as part of the Premises on September 15, 2015.

 

3.  The Expansion Space and Option to Expand.  Lessor and Lessee hereby agree to
increase the RSF of the Premises to include Suite 120 (“the Expansion Space”) as
that term is further defined in the Lease, which consists of 2,937 RSF on the
first floor of 4360 Park Terrace Dr. located at the Project. The Expansion
Space, as more particularly described in the Lease and Exhibit B to this First
Amendment, attached hereto and incorporated by reference, shall be delivered to
Lessee and become effective as part of the Premises upon the Substantial
Completion of the Expansion Space Work(as such terms are defined in the Lease).
All of the Expansion Space Work shall be conducted by Lessor according to the
terms and conditions of Exhibit I to the Lease at Lessor’s sole cost and
expense.  Lessor and Lessee agree that the terms of Exhibit I of the original
Lease shall be modified to evidence a mutual agreement that the Option to
Expand, as defined in Exhibit I of the Lease, has been exercised by Lessee and
the parties hereto have agreed to change the automatic term extension upon
expiration of the Initial Term for the Expansion Space from two (2) years to one
(1) year.

 

4.   Term.   Lessor and Lessee hereby agree that the term for the original
Premises as set forth in the Lease, as well as the terms for the Additional
Space and the Expansion Space, shall expire on April 30, 2019.

 

 

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5.   Percentage Share.   Effective September15, 2015, Lessee’s Percentage Share
of Basic Costs for the Premises (which shall then include Additional Space) is a
total of 11.59% (the ratio of 12,443 RSF of the Premises to the building total
of 107,372 RSF). Effective upon the Substantial Completion of the Expansion
Space Work (as such term is defined in the Lease), Lessee’s Percentage Share of
Basic Costs for the Premises shall further increase to a total of 14.3% (the
ratio of 15,380 RSF of the Premises to the building total of 107,372 RSF). 

 

6.   Rental Obligation.   Effective September 15, 2015, and every month
thereafter, Lessee shall pay, without offset or deduction, the following amounts
as basic monthly Base Rent for the Premises (which shall then include the
Additional Space), payable in advance promptly the first day of every calendar
month.

 

 

Base Rent:

Dates:

Rentable Rate
Per Rentable Square Foot:

Monthly Installment
of Base Rent:

Period Total:

9/15/15 – 1/31/16

$2.00

$24,886.00

$112,816.53

2/1/16 – 1/31/17

$2.06

$25,632.58

$307,590.96

2/1/17 – 1/31/18

$2.12

$26,401.56

$316,818.69

2/1/18 – 1/31/19

$2.19

$27,193.60

$326,323.25

2/1/19 – 4/30/19

$2.25

        $28,009.41

$84,028.24

 

 

Effective upon the Substantial Completion of the Expansion Space Work and every
month thereafter, Lessee shall pay, without offset or deduction, the following
amounts as basic monthly Base Rent for the Premises (which shall then include
the Additional Space and the Expansion Space), payable in advance promptly the
first day of every calendar month.

 

Base Rent:

Dates:

Rentable Rate
Per Rentable Square Foot:

Monthly Installment
of Base Rent:

Period Total:

2/1/16 – 1/31/17

$2.06

$31,682.80

$380,193.60

2/1/17 – 1/31/18

$2.12

$32,633.28

$391,599.36

2/1/18 – 1/31/19

$2.19

$33,612.28

$403,347.36

2/1/19 – 4/30/19

$2.25

        $34,620.65

$103,861.95

 

 

7.Lessee Improvements. Lessee agrees to take the Additional Space “as is” and
Lessor agrees to steam clean the carpet, patch and paint with a Building
Standard color selected by Lessee and provide lights and electrical outlets in
good working order. Lessee shall have the right, at its sole cost and expense,
to install a security system to control the Additional Space,

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provided that the security system is removed and the Premises are restored to
original condition at the end of the lease term. Lessee will not be required to
remove any of the existing wiring or improvements in the Additional Space.
Lessee will have the right to use the existing key card security system provided
that it is in good working order. If the existing key card system is not in good
working order, Lessee shall have the right to remove the existing key card
system and replace with a new key card system at Lessee’s sole cost and expense.
 

 

Lessee agrees to take the Expansion Space upon Substantial Completion of the
Expansion Space Work as set forth in the Lease.

 

8.   Base Year.   Lessee’s Base Year for the Additional Space and the Expansion
Space shall be the same year as set forth in the Lease.

 

 

9.

   Security Deposit.   The Security Deposit for the Additional Space

shall be equal to $28,009.41. The Security Deposit for the Expansion Space shall
be equal to $6,611.24. Lessor currently holds from Lessee a Security Deposit in
the amount of $30,801.48. Upon execution of this First Amendment, Lessee shall
deliver to Lessor the total increased amount of the Security Deposit of
$34,620.65.

 

10.    Parking.   Lessee shall be entitled to an additional thirty-three (33)
parking spaces, subject to the terms of the original Lease.

 

11. No Default by Lessor.   Lessee acknowledges and confirms that no default by
Lessor exists.  

 

 

12.

   Continuing Effectiveness.  All terms and provisions of the Lease, unless

modified herein by this First Amendment, shall remain unchanged and shall
continue in full force and effect.  

 

IN WITNESS THEREOF, this First Amendment has been executed as of the date first
above written.

 

 

“LESSOR”

BPG ROCK WESTLAKE, LLC

a Delaware limited liability company

 

By:Barker Pacific Group, Inc.,
a Delaware Corporation
its Authorized Manager

 

 

By:  _/s/ Michael D. Barker

Michael D. Barker

Managing Director

“LESSEE”

ATARA BIOTHERAPEUTICS, INC.

a Delaware limited liability company

 

 

 

 

 

By:___/s/ Isaac Ciechanover___________

 

    

 

 

 

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EXHIBIT A

 

Additional Space Floor Plan

 

(see attached)

 

 

 

 

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EXHIBIT B

 

 

The Expansion Space Floor Plan

 

(see attached)

 

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