Exhibit 10.9

 

FIRST AMENDMENT TO LEASE

 

THIS FIRST AMENDMENT TO LEASE (this “Amendment”) is entered into as of
October 31, 2011, by and between ELEVEN FAN PIER BOULEVARD LLC, a Delaware
limited liability company (“Landlord”), and VERTEX PHARMACEUTICALS INCORPORATED,
a Massachusetts corporation (“Tenant”).

 

R E C I T A L S:

 

A.                                    Landlord and Tenant are parties to that
certain Lease dated May 5, 2011 (the “Lease”) for approximately 516,693 square
feet of rentable area (the “Original Premises”) consisting of a portion of the
first (1st) floor, a portion of the second (2nd) floor, all of the third (3rd)
through sixteenth (16th) floors (including a mechanical floor), the Pedestrian
Bridge (as defined in the Lease), a two-story mechanical penthouse, and a
portion of a three-level below grade structure, of the building known as Parcel
B, Fan Pier, Boston, Massachusetts (the “Building”). The Building is part of a
phased development located in the South Boston waterfront area of Boston,
Massachusetts (as such area is improved from time to time, the “Project”).

 

B.                                    At Tenant’s request, Landlord has agreed
to relocate a planned child care facility originally intended to be located on
the second (2nd) floor of the Building to another location within the Project,
and to add an additional portion of the Building containing approximately 9,619
square feet of rentable area located on the second (2nd) floor of the Building
and depicted on Exhibit A attached hereto (the “Additional Space”) to the
Original Premises.

 

C.                                    Landlord and Tenant desire to amend the
Lease on the terms and conditions hereinafter set forth.

 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, Landlord and Tenant agree to amend the Lease as
follows:

 

1.                                      Additional Space. Effective as of the
date hereof, the Additional Space is added to the Original Premises (the
Original Premises and the Additional Space shall be collectively referred to as
the “Premises”) upon all of the terms and conditions of the Lease as modified
herein. The Lease of the Additional Space shall terminate upon the expiration or
sooner termination of the Lease with respect to the Original Premises.

 

2.                                      Premises. As of the date hereof,
Section 1.06 of the Lease is hereby amended by deleting the number “516,693” and
replacing it with “526,312”.

 

3.                                      Tenant’s Pro Rata Share. As of the date
hereof, Section 1.07 of the Lease is hereby amended and restated in its entirety
by deleting the number “94.51%” and replacing it with “96.27%”.

 

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4.                                      Security Deposit. As of the date hereof,
Section 1.13 of the Lease is hereby amended and restated in its entirety by
deleting the number “$15,977,981.50” and replacing it with “$16,278,575.00”.

 

5.                                      Parking Access Devices. As of the date
hereof, Section 1.14 of the Lease is hereby amended by deleting the number “398”
and replacing it with “405”.

 

6.                                      Base Rent. As of the date hereof, the
Initial Rent set forth in Section 1.15 of the Lease is hereby amended and
restated in its entirety as follows:

 

“From and after the Commencement Date through the end of the fifth (5th) Lease
Year, $32,557,150 per annum ($62.50 per rentable square foot for 517,316
rentable square feet of the Premises and $25.00 per rentable square foot for
8,996 rentable square feet of the Premises designated as storage space on
Exhibit 1.06 (the “Storage Space”)), subject to phasing pursuant to Section 1.09
and Section 4.07.

 

From and after the first (1st) day of the sixth (6th) Lease Year through the end
of the tenth (10th) Lease Year, $35,166,220 per annum ($67.50 per rentable
square foot for 517,316 rentable square feet of the Premises and $27.50 per
rentable square foot for the Storage Space).

 

From and after the first (1st) day of the eleventh (11th) Lease Year through the
end of the Initial Term, $37,775,290 per annum ($72.50 per rentable square foot
for 517,316 rentable square feet of the Premises and $30.00 per rentable square
foot for the Storage Space ).”

 

7.                                      Finish Work Allowance. As of the date
hereof, Section 1.21 of the Lease is hereby amended and restated in its entirety
as follows:

 

“$78,097,400 (calculated on the basis of $150 per rentable square foot times
517,316 rentable square feet plus $500,000, subject to adjustment pursuant to
Article 18.”

 

8.                                      Second Floor Premises Plan. As of the
date hereof, the second page of Exhibit 1.06 of the Lease is hereby deleted in
its entirety and replaced with the attached Exhibit A.

 

9.                                      Amended and Restated Measurement
Standard. As of the date hereof, Exhibit 2.01(e) of the Lease is hereby deleted
in its entirety and replaced with the attached Exhibit B.

 

10.                               Miscellaneous. Except as modified herein, the
Lease and all of the terms and provisions thereof shall remain unmodified and in
full force and effect as originally written. In the event of any conflict or
inconsistency between the provisions of the Lease and the provisions of this
Amendment, the provisions of this Amendment shall control. All terms used herein
but not defined herein which are defined in the Lease shall have the same
meaning for purposes hereof as they do for purposes of the Lease. The Recitals
set forth above in this Amendment are

 

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hereby incorporated by this reference. This Amendment shall be binding upon and
shall inure to the benefit of the parties hereto and their respective
beneficiaries, successors and assigns.

 

11.                               Counterparts. This Amendment may be executed
in any number of counterparts and by each of the undersigned on separate
counterparts, which counterparts taken together shall constitute one and the
same instrument.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the day
and year first above written.

 

 

LANDLORD:

 

 

 

ELEVEN FAN PIER BOULEVARD LLC,

 

a Delaware limited liability company

 

 

 

 

By:

MASSACHUSETTS MUTUAL LIFE

 

 

INSURANCE COMPANY,

 

 

a Massachusetts corporation,

 

 

its Member

 

 

 

 

 

By:

CORNERSTONE REAL ESTATE

 

 

 

ADVISERS LLC,

 

 

 

a Delaware limited liability company,

 

 

 

its authorized agent

 

 

 

 

 

 

 

By:

/s/ Linda C. Houston

 

 

 

Name:

Linda C. Houston

 

 

 

Title:

Vice President

 

 

 

 

TENANT:

 

 

 

VERTEX PHARMACEUTICALS

 

INCORPORATED, a Massachusetts corporation

 

 

 

 

By:

/s/ Matthew Emmens

 

 

Name:

Matthew Emmens

 

 

Title:

CEO & Chairman

 

 

 

 

By:

/s/ Ian Smith

 

 

Name:

Ian Smith

 

 

Title:

EVP & CFO

 

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EXHIBIT A

 

REPLACEMENT SECOND FLOOR PREMISES PLAN

 

[to be attached]

 

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[g114111kki001.jpg]

 

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EXHIBIT B

 

AMENDED AND RESTATED MEASUREMENT STANDARD

 

Measurements as shown on those certain plans dated October 27, 2011 and prepared
by Elkus/Manfredi Architects entitled “Fan Pier — Parcel B, 11 Fan Pier
Boulevard”, consisting of 13 sheets from Level B1 Areas through and including
Penthouse Mechanical Areas and the table entitled “Parcel B Area Calculation”
attached hereto.

 

[table to be attached]

 

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[g114111kki002.jpg]

 

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