ecyt_Ex10_16



		

			Exhibit 10.16

		


		

			 

		





		
			PURDUE TECHNOLOGY CENTER
		

		
			3000 Kent Avenue
		

		
			West Lafayette, Indiana  47906
		

		
			 
		

		
			EXTENSION OF LEASE
		

		
			 
		

		
			THIS EXTENSION OF LEASE is made this first day of December, 2016 by and between PURDUE RESEARCH FOUNDATION (“Landlord”), an Indiana corporation (formed and existing under the Indiana Foundation or Holding Companies Act, Acts of 1921, ch. 246), and ENDOCYTE (“Tenant”).  Landlord and Tenant have previously entered into a lease (the “Lease”) dated December 8, 2015, for Units A1-100, A1-200, B1-008, B1-100A, B1-200, B1-300, B1-400, B1-500, A2-100, A2-300, B2-300, B2-400, B2-500, B2-603, B2-700 AND B2-900 at the Purdue Technology Center, located at 3000 Kent Avenue, West Lafayette, IN.  
		

		
			 
		

		
			In consideration of mutual benefits to be derived by the parties, it is agreed that the Lease Term provided under the Lease is hereby extended for a period of Twelve (12) months, commencing January 1, 2017, and expiring December 31, 2017 (the “Extension Period”).  All other terms and conditions of the Lease shall be applicable to such Extension Period(s), except as follows:
		

		
			 
		

			
	
			
				 1.
			

			
	
			
			The Monthly Rent Installment shall be $50,746.89 ($18.42 x 16,724 square feet / 12 months for office space and $34.64 x 8,687 square feet / 12 months for lab space) and shall remain in effect during the Extension Period unless otherwise altered under the provisions of Section 4 of the Lease.




		
			 
		

			
	
			
				 2.
			

			
	
			
			The Rent shall be $608,962.68 ($50,746.89 x 12 months) and shall remain in effect during the Extension Period unless otherwise altered under the provisions of Section 4 of the Lease.   




		
			 
		

		
			It is further agreed that all other terms and conditions of the Lease are hereby affirmed and shall remain in full force and effect during the Extension Period.
		

		
			 
		

		
			WITNESS the signatures and seals of the above parties as of the day and year first above written.
		

		
			 
		

			
					
						 

					
						 

					
					
						 

					
					
						 

				
	
					
						LANDLORD:

					
					
						PURDUE RESEARCH FOUNDATION

				
	
					
						 

					
					
						an Indiana corporation (formed and existing under the Indiana
Foundation or Holding Companies Act, Acts of 1921, ch. 246)

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						/s/ David L. Hodde

				
	
					
						 

					
					
						 

					
					
						David L. Hodde

				
	
					
						 

					
					
						 

					
					
						Assistant Vice President

				
	
					
						 

					
					
						 

					
					
						Director of Real Estate

				
	
					
						ATTEST:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						 /s/ Gregory S. Napier

					
					
						 

				
	
					
						 

					
					
						Gregory S. Napier

					
					
						 

				
	
					
						 

					
					
						Director, Physical Facilities and Purdue Research Parks

				
	
					
						 

					
					
						 

				
	
					
						TENANT:

					
					
						ENDOCYTE

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 /s/ Mike Sherman 

				
	
					
						 

					
					
						 

					
					
						Mike Sherman

				
	
					
						 

					
					
						 

					
					
						CEO