Filed by Bowne Pure Compliance



 




	 	 	 	 	 
	STATE OF ALABAMA

	)	 
	SHELBY COUNTY

	 	 	)	 






THIRD AMENDMENT TO LEASE AGREEMENT




THIS THIRD AMENDMENT TO LEASE AGREEMENT, hereafter referred to as the “Agreement” is made and
entered into on this 7th day of August, 2007, by and between Riverchase Capital LLC, a
Florida limited liability company, and Stow Riverchase, LLC, a Florida limited liability company,
as successor landlord to RBP, LLC, an Alabama limited liability company, hereafter referred to as
collectively “Landlord” and BioCryst Pharmaceuticals, Inc. hereafter referred to as
“Tenant”.



WITNESSETH:




WHEREAS, Landlord and Tenant entered into a Lease Agreement dated July 13, 2000, and amended
by the First Amendment to Lease Agreement dated May 15, 2001, and by the Second Amendment to Lease
Agreement dated November 14, 2005, collectively referred to as the “Lease”, for approximately
50,150 square feet of office/warehouse space consisting of Suites A, B and H of the 2190 wing and
Suites A and C of the 2192 wing, the “Premises”, at the building known as Riverchase Business Park,
the “Building”, located at 2190/2192 Parkway Lake Drive, Hoover, Alabama 35244.



WHEREAS, the parties hereto have reached additional agreements to amend the terms of the Lease
in the manner hereinafter set forth.



NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein
contained, and other good and valuable considerations, the receipt and sufficiency of which is
hereby acknowledged, Landlord and Tenant understand and agree as follows:




	 	1.	 	The Lease Expiration Date is hereby changed to June 30, 2015.







	 	2.	 	The following is added to Section 1 (Fixed Minimum Rent Payment) of the
Addendum attached as Exhibit D to the Lease:






	 	 	 
	July 1, 2010 — June 30, 2011

	 	$42,711.08/month
	July 1, 2011 — June 30, 2012

	 	$43,992.42/month
	July 1, 2012 — June 30, 2013

	 	$45,312.20/month
	July 1, 2013 — June 30, 2014

	 	$46,671.56/month
	July 1, 2014 — June 30, 2015

	 	$48,071.71/month







	 	3.	 	Section 5 (Early Termination) of the Addendum attached as Exhibit D to the
Lease is hereby deleted, and Tenant waives its right to terminate the Lease prior to
the Lease Expiration Date.







	 	4.	 	Commencing July 1, 2007, Common Area maintenance costs shall not include the
15% administrative and overhead charge.







	 	5.	 	Landlord hereby grants to Tenant one-time a right of first refusal to lease
additional contiguous space in the Building on the following terms and conditions. In
the event Landlord receives from a third party a bona fide offer to lease all or a
portion of space in the Building that is contiguous to the Premises, which offer
Landlord intends to accept (the “Third Party Offer”), Landlord shall provide Tenant
with written notice of its intent to accept the Third Party Offer, which notice shall
include the business terms of the Third Party Offer. Such notice shall constitute
Landlord’s offer to lease to Tenant the space described in the Third Party Offer upon
the same terms and conditions as the Third Party Offer (the “Landlord Offer”). Tenant
shall have five (5) business days after it receives the Landlord Offer to notify
Landlord in writing of Tenant’s acceptance thereof. Within ten (10) days after
Tenant’s acceptance of the Landlord Offer, Landlord and Tenant shall
execute and deliver a lease agreement containing terms and conditions identical to
those comprising the Third Party Offer. The failure of Tenant to accept the Landlord
Offer within the five (5) business day period described above shall nullify and void
the right of first refusal granted herein as its relates solely to the particular
Third Party Offer of which Tenant received notice, and Landlord shall be free to
lease such space to such third party upon the terms and conditions of the Third Party
Offer.





 


 









 











	 	6.	 	Landlord shall provide Tenant with an allowance of $300,000 for Tenant’s use in
making certain improvements to the Premises. Upon completion of such Tenant
Improvements, Tenant shall submit to Landlord (i) a request for payment specifying
Tenant’s total actual costs of the Tenant Improvements (Landlord’s contribution shall
not exceed the lesser of $300,000 or Tenant’s total actual costs), (ii) copies of paid
invoices for the Tenant Improvements, (iii) final, unconditional lien waivers and
releases from all parties furnishing materials and/or services in connection with the
Tenant Improvements, (iv) an estoppel certificate from Tenant in form and substance
reasonably acceptable to Landlord, (v) evidence (including, without limitation, access
to the Premises by Landlord, its lender and their respective agents) reasonably
satisfactory to Landlord that the Tenant Improvements have been completed in a good and
workmanlike manner and in accordance with the Lease, (vi) such additional documents,
certificates and affidavits as Landlord may reasonably request evidencing completion of
(and payment for) the Tenant Improvements. The Tenant Improvements shall be governed
by Section 2 of the Addendum attached as Exhibit D to the Lease. Landlord must approve
Tenant’s plans and specifications for the Tenant Improvements and must approve Tenant’s
selection of the general contractor.







	 	7.	 	Section 3 (Expansion Option) of the Addendum attached as Exhibit D to the Lease
is hereby deleted, and Tenant waives its rights in connection therewith.







	 	8.	 	Section 4 (Option to Renew) of the Addendum attached as Exhibit D to the Lease
is hereby modified such that Tenant will have one (1) option to renew the Lease for an
additional term of five (5) years upon giving written notice to Landlord at least nine
(9) months prior to June 30, 2015, such renewal to be upon the existing terms and
conditions contained in the Lease at a mutually agreed upon rental rate. If a mutually
agreed upon rental rate is not agreed within six (6) months of the Lease expiration of
June 30, 2015 the option to renew shall become null and void and the Lease shall
terminate on June 30, 2015. In the event Tenant exercises such option, Landlord shall
professionally clean the floors and repaint the walls with material equivalent in
quality and quantity to those installed or used in the initial Tenant finish. At
Tenant’s option, Landlord shall reimburse Tenant the cost to professionally clean the
floors and repaint the walls, in lieu of performance of such work on the Tenant’s
behalf.





 


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IN WITNESS WHEREOF, the parties hereto have entered into this Agreement as of the day and year
first above written.



	 	 	 	 	 
	WITNESS:	 	LANDLORD:
	 
	 	 	 	 
	 	 	Riverchase Capital, LLC
a Florida limited liability company
	 
	 	 	 	 
	Signature: /s/ Stephen Butler

	 	By:
	 	/s/Bruce D. Burdge
	 

	 	 	 	 
	 

	 	 	 	Bruce D. Burdge
	Name: Stephen Butler
	 	 	 	 
	 

	 	Its:
	 	President
	 

	 	 	 	 
	 
	 	 	 	 
	WITNESS:	 	Stow Riverchase, LLC
a Florida limited liability company
	 
	 	 	 	 
	 

	 	By:
	 	Arcis Realty, LLC, as its attorney-in-fact
	Signature: /s/ Stephen Butler
	 	 	 	 
	 

	 	By:
	 	/s/Bruce D. Burdge
	 

	 	 	 	 
	Name: Stephen Butler
	 	 	 	 
	 

	 	 	 	Bruce D. Burdge
	 

	 	Its:
	 	President
	 

	 	 	 	 
	 
	 	 	 	 
	WITNESS:	 	TENANT: BioCryst Pharmaceuticals, Inc.
	 
	 	 	 	 
	Signature: /s/ Stephen Butler

	 	By:
	 	/s/ Michael A. Darwin
	 

	 	 	 	 
	 
	 	 	 	 
	Name: Stephen Butler
	 	 	 	 
	 

	 	Its:
	 	Vice President Finance, Treasurer, Secretary
	 

	 	 	 	 







 


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