Lease Agreement



 Exhibit 10.239 
 AMENDMENT TO LEASE AGREEMENT 
 STATE OF NORTH CAROLINA 
 AGREEMENT 
 COUNTY OF NEW HANOVER 
 THIS AGREEMENT, made as of the 16th day of December, 2005, by and between BBC FAMILY LIMITED PARTNERSHIP, a
North Carolina limited partnership, and CAMERON PROPERTIES LIMITED PARTNERSHIP, a North Carolina limited partnership, hereinafter collectively called “Landlord”, PHARMACEUTICAL PRODUCT DEVELOPMENT, INC., a North Carolina corporation, and
PPD DEVELOPMENT, LP, a Texas limited partnership (successor to PPD Pharmaco, Inc., a Texas corporation), hereinafter called “Tenant”. 
 W I T N E S S E T H: 
 WHEREAS, the said BBC Family Limited Partnership and Pharmaceutical Product Development, Inc.,
entered into a Lease Agreement dated March 25, 1996 (“Lease I”); and 
 WHEREAS, Lease I has been amended by an amendment
dated April 14, 1999, and two letter amendments, dated November 6, 1996 and June 18, 1997, which are included in all references to Lease I in this Agreement; and 
 WHEREAS, the said Pharmaceutical Product Development, Inc., assigned its interest in Lease I to the said PPD Pharmaco, Inc.; and 
 WHEREAS, the said BBC Family Limited Partnership and the said PPD Pharmaco, Inc., entered into a Lease Agreement dated September 15, 1998
(“Lease II”); and 
 WHEREAS, Tenant is the successor to PPD Pharmco, Inc., and has succeeded to all interests and liabilities of
PPD Pharmaco, Inc., under Lease I and Lease II; and 
 WHEREAS, Lease II has been amended by an amendment, dated April 14, 1999, and a
letter amendment dated September 21, 1999, which are included in all references to Lease II in this Agreement; and 
 WHEREAS, the said
BBC Family Limited Partnership has conveyed a four-tenths undivided interest in the land covered by Lease I and Lease II, and a four-tenths undivided interest in Lease I and Lease II, to the said Cameron Properties Limited Partnership; and

 WHEREAS, Landlord, the said Pharmaceutical Product Development, Inc., and Tenant desire to enter into the following agreement with respect
to Lease I and Lease II. 
 Now, therefore, in consideration of the foregoing matters and the mutual covenants and agreements herein
contained, Landlord, the said Pharmaceutical Product Development, Inc., and Tenant do hereby mutually covenant and agree as follows: 
  

	 	1.	The Lease Commencement Date under Section 2.2.1 of Lease I was November 1, 1996. 

  

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	 	2.	Section 1.3.1 of Lease I is hereby amended to read as follows: 

 1.3.1 Renewal Options. As long as there has not been an uncured event of default, Landlord will grant Tenant the right to renew this lease for one of the following time periods: (a) three (3) months,
(b) four (4) months, (c) five (5) months, (d) six (6) months, or (e) seven (7) months. If Tenant exercises its option to renew this lease, it must exercise it as to only one of the above time periods
(a) through (e), and it may not exercise such option as to any other time period. In order to exercise such option, Tenant must notify Landlord in writing on or before 5:00 p.m., Eastern Standard Time, February 28, 2006, which of the above
time periods (a) through (e) Tenant has selected. Tenant and Landlord shall be bound by all of the terms and conditions of this Lease during the renewal term except for the Annual Total Rent per RSF (which includes the Annual Base Rent per
RSF and the Annual Operating Expenses per RSF), as hereinabove defined, which Annual Total Rent per RSF shall be Twenty-Two and no/100 Dollars ($22.00) during the renewal term. 
  

	 	3.	Section 1.3.1 or Lease II is hereby deleted in its entirety. 

  

	 	4.	Section 2.2.1 of Lease II is hereby amended to read as follows: 

 2.2.1 The Term. The Term of this Lease shall commence upon the Term Commencement Date, and shall continue for a period of ten (10) years. The Term Expiration Date shall be ten (10) years (120 months)
after the Term Commencement Date, unless changed by Landlord as provided in Section 2.2.3. The Term Commencement Date shall be September 1, 1999. 
  

	 	5.	Section 2.2.3 is hereby inserted in Lease II, immediately after Section 2.2.2, as follows: 

 By written notice to Tenant, Landlord may change the Term Expiration Date to any date which is not less than six (6) months after the date such
notice is given, and not more than ten (10) years (120 months) after the Term Commencement Date. Such notice may not be given prior to the expiration or termination of the lease term under the Lease Agreement dated March 25, 1996, between
BBC Family Limited Partnership, as Landlord, and Pharmaceutical Product Development, Inc., as Tenant, as amended. 
 Except as herein
expressly amended, Lease I and Lease II remain in full force and effect, and the Landlord, the said Pharmaceutical Product Development, Inc., and Tenant hereby ratify and confirm the same, as herein amended. 
  

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 EXECUTED as a sealed instrument in two or more counterparts as of the day and year first above written.

  

					
	LANDLORD:
	
	BBC FAMILY LIMITED PARTNERSHIP
			
	By	 	 /s/ Scott C. Sullivan
	 	(SEAL)
		 	Scott C. Sullivan, General Partner	 	
			
	By	 	 /s/ Jabe Hardee
	 	(SEAL)
		 	Jabe V. Hardee, General Partner	 	
	
	CAMERON PROPERTIES LIMITED PARTNERSHIP
			
	By	 	 /s/ Scott C. Sullivan
	 	(SEAL)
		 	Scott C. Sullivan, General Partner	 	
			
	By	 	 /s/ Adair M. Graham, Jr.
	 	(SEAL)
		 	Adair M. Graham, Jr., General Partner	 	
			
	By	 	 /s/ Jabe Hardee
	 	(SEAL)
		 	Jabe V. Hardee, General Partner	 	
		
	WITNESSED BY:	 	
			
	By	 	 /s/ R. Hill Rogers
	 	
	Name:	 	R. Hill Rogers	 	
	
	PHARMACEUTICAL PRODUCT DEVELOPMENT, INC.
			
	By	 	 /s/ Fred B. Davenport, Jr.
	 	
	Name:	 	Fred B. Davenport, Jr.	 	
	Title:	 	President	 	
	
	ATTEST:
			
	By	 	 /s/ Charles H. Munn, Jr.
	 	
	Name:	 	Charles H. Munn, Jr.	 	
	Title:	 	Assistant General Counsel	 	

 [corporate seal] 
  

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	TENANT:
	
	PPD DEVELOPMENT, LP
		
	By	 	 PPD GP, LLC

		 	ITS, General Partner
		
	By	 	 /s/ Fred B. Davenport, Jr.

		 	Fred B. Davenport, Jr.
		 	President
	
	WITNESSED BY:
		
	By	 	 /s/ Charles H. Munn, Jr.

	Name:	 	Charles H. Munn, Jr.
		 	Assistant General Counsel

  

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