Exhibit 10.17


 


CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS
AS PRIVATE OR CONFIDENTIAL


 


SUBLEASE


 


THIS SUBLEASE AGREEMENT
(this “Sublease”), made as of December 16, 2019 (the “Effective Date”), by and between SURFACE ONCOLOGY,
INC., a Delaware corporation (“Sublessor”), and EQRX, INC., a Delaware corporation (hereinafter referred to as “Sublessee”);


 


WITNESSETH:


 


WHEREAS, pursuant to
that certain Lease Agreement dated as of May 13, 2016, as amended by that certain First Amendment to Lease dated as of February 28, 2017
and that Second Amendment to Lease dated as of May 22, 2018 (collectively, as the same may have been heretofore further amended, amended
and restated, supplemented or modified from time to time, the “Prime Lease”), BMR-HAMPSHIRE LLC (“Prime Lessor”),
as lessor, leases to Sublandlord, as lessee, a portion of the building located at 50 Hampshire Street, Cambridge, Middlesex County, Massachusetts
(the “Premises” or the “Building”), upon and subject to the terms and conditions set forth in the
Prime Lease. A redacted copy of the Prime Lease is attached hereto as Exhibit A and made a part hereof; and


 


WHEREAS, Sublessee
desires to sublease a portion of the Premises from Sublessor and Sublessor is willing to sublease the same, all on the terms and conditions
hereinafter set forth.


 


NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties covenant and agree as follows:


 


1.
Sublease of Subleased Premises. For the Rent (as defined herein) and upon the terms and conditions herein, Sublessor
hereby subleases to Sublessee, and Sublessee hereby subleases from Sublessor the following space during the following periods during the
Term (as defined herein) of this Sublease:


 


(a)
Seventh Floor Premises. From the Commencement Date (as defined herein) through the Expiration Date, the Subleased Premises shall
include only the approximately 33,529 rentable square feet of space described in Exhibit B which shall be referred to herein as
the “Subleased Premises”.


 


(b)
During the term hereof, Sublessee shall have access to and use of the Subleased Premises twenty-four (24) hours a day, seven (7)
days a week, subject to the terms of this Sublease.


 






     


     


    

 


2.
Term; Condition of Premises. Subject to the following provisos, the term of this Sublease (“Term”)
shall commence upon the later of (a) the date on which the Subleased Premises are tendered to Sublessee for its occupancy and use and
(b) the date Sublessor delivers Prime Lessor’s consent to this Sublease to Sublessee containing terms and conditions acceptable
to Sublessee in its sole discretion (the later of (a) and (b), the “Commencement Date”), which is targeted for January
1, 2020 (“Sublease Target Commencement Date”), and shall expire on the date that is thirty-six (36) full calendar months
after the Commencement Date (the “Expiration Date”), unless sooner terminated as set forth herein. Notwithstanding
anything in this Sublease to the contrary, Sublessor’s obligation to timely deliver the Subleased Premises on or before the Sublease
Target Commencement Date shall be subject to extension on a day-for-day basis as a result of Force Majeure (as defined below), and Sublessor
shall incur no liability under this Section for any delay caused by or any action or inaction of Sublessee or its contractors, agents
or employees. Sublessor shall not be liable for the failure to furnish any utility or service, whether or not such failure is caused by
accidents; breakage; casualties (to the extent not caused by the party claiming Force Majeure); Severe Weather Conditions (as defined
below); physical natural disasters (but excluding weather conditions that are not Severe Weather Conditions); strikes, lockouts or other
labor disturbances or labor disputes (other than labor disturbances and labor disputes resulting solely from the acts or omissions of
the party claiming Force Majeure); acts of terrorism; riots or civil disturbances; wars or insurrections; shortages of materials (which
shortages are not unique to the party claiming Force Majeure); government regulations, moratoria or other governmental actions, inactions
or delays; failures by third parties to deliver gas, oil or another suitable fuel supply, or inability of the party claiming Force Majeure,
by exercise of reasonable diligence, to obtain gas, oil or another suitable fuel; or other causes beyond the reasonable control of the
party claiming that Force Majeure has occurred (collectively, “Force Majeure”). In the event of such failure, Sublessee
shall not be entitled to termination of this Sublease or any abatement or reduction of Rent, nor shall Sublessee be relieved from the
operation of any covenant or agreement of this Sublease. “Severe Weather Conditions” means weather conditions that
are materially worse than those that reasonably would be anticipated for the Premises at the applicable time based on historic meteorological
records.


 


(a)
The Subleased Premises shall be delivered by Sublessor and accepted by Sublessee in “as is” condition, except that
the Subleased Premises shall be in broom clean condition, all the Subleased Premises shall be free of any and all personal property, occupancies
and tenancies. Sublessee shall have the right to use, at no additional cost or expense, the existing office furniture and audiovisual
equipment located within the Premises at the time of delivery by Sublessor, the extent of which shall be memorialized in an Inventory
List to be attached as Exhibit C to this Sublease.


 


(b)
Sublessor covenants to Sublessee that the Premises shall be in the same condition, in all material respects, on the Commencement
Date as the Premises are in on the Effective Date, reasonable wear and tear excepted.


 


3.
Appurtenant Rights.


 


(a)
Sublessee shall have, as appurtenant to the Subleased Premises and without additional charge or cost, rights to use in common with
Sublessor and others entitled thereto, Sublessor’s rights in driveways, walkways, lobbies, hallways, the loading dock, freight elevators,
stairways, passenger elevators convenient for access to the Subleased Premises and the other Common Areas as set forth in the Prime Lease
and all in accordance with the terms of the Prime Lease.


 






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4.
Rent.


 


(a)
Sublessee shall pay to Sublessor the following base rent for the Subleased Premises (the “Base Rent”). The Base
Rent and the Extra Rent (as defined below) shall be collectively referred to in this Sublease as the “Rent”.


 


	Lease Period	Monthly Installment of Base Rent	Annual Base Rent
	Commencement Date through date that is one (1) month after the Commencement Date	$0	N/A
	Rent Commencement Date - the date that is 12 full calendar months thereafter	$210,953.29	$2,531,439.50
	Month 13 after Rent Commencement Date - Month 24	$217,281.89	$2,607,382.69
	Month 25 after Rent Commencement Date - Month 36	$223,800.35	$2,685,604.17


 


(b)
Notwithstanding anything set forth herein to the contrary, Sublessee shall be responsible for paying, as “Extra Rent,”
for the cost of Sublessee’s pro rata share of the Additional Rent set forth in the Prime Lease that is required to be paid by Sublessor,
excluding (i) any such Extra Rent relating solely to any portion of the Premises that does not include the Subleased Premises or
which is solely for Sublessor’s benefit and (ii) any Extra Rent relating to Laboratory Support Expenses. For clarity, Sublessee,
at its expense, shall be responsible to provide janitorial services, telecommunications, information technology, security and alarm systems
to the Subleased Premises. Any systems that pertain to the foregoing that are installed by Sublessee shall be removed at the end of Sublessee’s
occupancy of the Subleased Premises Sublessor’s pro rata share of the Additional Rent for the Building is [16.60%], which is approximately
[51.15%] of Sublessor’s pro rata share of the Additional Rent. For avoidance of doubt, Sublessee shall not be responsible to pay
for any portion of Extra Rent relating to any time prior to the Rent Commencement Date.


 


(c)
Sublessee shall begin paying Rent to Sublessor on the date that is one (1) month after the Commencement Date (the “Rent
Commencement Date”), and shall not owe Rent to Sublessor for any period prior to the Rent Commencement Date. All monthly payments
of Rent and Extra Rent are due and payable in advance on the first day of each calendar month, without demand, deduction, counterclaim
or setoff, except as set forth or incorporated herein. Rent for any partial month shall be prorated and paid on the first business day
of such month. Sublessee shall make all payments required by this Sublease by wire transfer.


 






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(d)
Upon the payment of any amount of the Building Allowance (as defined in the Work Letter) for the Improvements (as defined in the
Work Letter), the annual Base Rent shall be increased by the total amount drawn by the Sublessee (the “Building Allowance Drawn”),
amortized (without interest) on a straight-line basis over the balance of the Term commencing as of the Rent Commencement Date (the aggregate
of which is hereinafter referred to as the “Aggregate Building Allowance Drawn”) such that the full amount of the Aggregate
Building Allowance Drawn shall be reimbursed by the Sublessee to Sublessor as of the last regularly scheduled Base Rent payment of the
Term.


 


5.
Permitted Uses. Sublessee shall use the Subleased Premises only for the Permitted Uses applicable to the Subleased Premises
as set forth in the Prime Lease. Sublessee shall not undertake any activities in the Subleased Premises unless and until Sublessee has
complied with any provisions of the Prime Lease that relate to Sublessee’s use, all applicable laws (including, but not limited
to, having obtain all necessary federal, state or local permits and operating licenses) and insurance requirements.


 


6.
Condition of Subleased Premises; Security; Alterations; Parking.


 


(a)
Sublessee agrees that, except as expressly provided herein, (i) it enters into this Sublease without relying upon any representations,
warranties or promises by Sublessor, its agents, representatives, employees, servants or any other person in respect of the Building or
the Subleased Premises, except as specifically set forth in this Sublease, (ii) no rights, easements or licenses are acquired by Sublessee
by implication or otherwise except as expressly set forth or as incorporated herein, (iii) Sublessor shall have no obligation to do any
work in order to make the Subleased Premises suitable and ready for occupancy and use by Sublessee. Sublessor represents and warrants
that, to Sublessor’s knowledge, all base building systems serving the Subleased Premises are, as of the date of this Sublease, in
good working order.


 


(b)
Sublessee shall be permitted to install its own security system in the Subleased Premises which is compatible with the key card
access system for the Building, subject to the written approval of Sublessor and Prime Lessor, in Sublessor’s and Prime Lessor’s
reasonable discretion, provided that Prime Lessor shall be given all keys, passcodes and other measures necessary to ensure that Prime
Lessor has access to the Subleased Premises at all times in accordance with the terms of the Prime Lease. At the end of the Term, Sublessee
shall remove such security system.


 


(c)
Sublessee may cause the Improvements (as set forth in the Work Letter (“Work Letter”) attached to this Sublease as
Exhibit D) to be performed, and otherwise shall keep and maintain the Subleased Premises in at least the same order,
repair and condition as exists on the Commencement Date, reasonable wear and tear and damage by fire or other casualty excepted.


 


(d)
Subject to Sublessor’s and Prime Lessor’s reasonable approval, Sublessee shall have the right to hire and manage a
mutually approved architect, contractor and construction manager for all required construction relative to Sublessee’s Subleased
Premises. All of Sublessee’s improvements, including the Improvements, shall be subject to Sublessor’s and Prime Lessor’s
approval, which shall not be unreasonably delayed or withheld. Sublessor shall notify Sublessee of any restoration obligations upon review
and consent of any alteration plans. Sublessee shall also be responsible for any fees charged by Prime Lessor in connection with Sublessee’s
Improvements and any other alterations in accordance with Section 17.10 of the Prime Lease.


 


(e)
During the Term of the Sublease, Sublessee shall be eligible to use twenty-seven (27) parking spaces allocated to Sublessor pursuant
to the Prime Lease at the same cost per space as charged to Sublessor pursuant to the Prime Lease.


 






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7.
Insurance. Sublessee shall maintain throughout the Term of this Sublease such insurance in respect of the Subleased
Premises and the conduct and operation of business therein, with Sublessor and Prime Lessor listed as additional insureds as is required
of “Tenant” pursuant to the terms of the Prime Lease, with no penalty to Sublessor or Prime Lessor resulting from deductibles
or self-insured retentions effected in Sublessee’s insurance coverage. If Sublessee fails to procure or maintain such insurance
and to pay all premiums and charges therefor within five (5) days after receipt of written notice from Sublessor, Sublessor may (but shall
not be obligated to) do so, whereupon Sublessee shall reimburse Sublessor upon demand for such insurance premiums and charges and other
reasonable costs incurred by Sublessor. All such Sublessee insurance policies shall, to the extent obtainable, contain endorsements providing
that (i) such policies may not be canceled except upon thirty (30) days’ prior notice to Sublessor and Prime Lessor, (ii) no act
or omission of Sublessee shall affect or limit the obligations of the insurer with respect to any other named or additional insured and
(iii) Sublessee shall be solely responsible for the payment of all premiums under such policies and Sublessor, notwithstanding that it
is or may be a named insured, shall have no obligation for the payment thereof. On or before the Commencement Date, Sublessee shall deliver
to Sublessor and Prime Lessor either a fully paid-for policy or certificate, at Sublessee’s option, evidencing the foregoing coverages.
Any endorsements to such policies or certificates shall also be delivered to Sublessor and Prime Lessor upon issuance thereof. Sublessee
shall procure and pay for renewals of such insurance from time to time before the expiration thereof, and Sublessee shall deliver to Sublessor
and Prime Lessor such renewal policies or certificates within thirty (30) days after the renewal date of any existing policy. In the event
Sublessee fails to deliver any such renewal policy or certificate within thirty (30) days after the expiration of any existing policy,
Sublessor shall have the right, but not the obligation, to obtain the same after five (5) days’ written notice and opportunity to
cure whereupon Sublessee shall reimburse Sublessor upon demand the fair market cost thereof.


 


Sublessee shall include in
all such insurance policies any clauses or endorsements in favor of Prime Lessor including, but not limited to, waivers of the right of
subrogation, which Sublessor is required to provide pursuant to the provisions of the Prime Lease. Sublessor and Sublessee shall also
obtain from their respective insurers waivers of subrogation riders in favor of each other and hereby agree to release each other from
all claims that may arise that are otherwise covered by insurance or if would have been covered by insurance that was required to be obtained
either herein or in the Prime Lease. Sublessee releases and waives all claims against Sublessor for loss or damage to Sublessee’s
personal property and its alterations in the Subleased Premises


 


8.
Indemnification. Subject to Section 7 above and the obligation of each party to first look to insurance and except to
the extent directly caused by the negligence or willful misconduct of Sublessor, Sublessee agrees to defend (with counsel reasonably approved
by Sublessor), indemnify and hold Sublessor and its respective officers, agents and employees harmless from and against any and all claims,
costs, expenses, losses and liabilities arising: (i) from the conduct or management of or from any work or thing whatsoever done
in the Subleased Premises by or on behalf of Sublessee during the Term hereof; (ii) from any condition arising and any injury to or death
of persons, damage to property or other event occurring in the Subleased Premises during the term hereof by or on behalf of Sublessee;
and (iii) from any breach or default on the part of Sublessee in the performance of any covenant or agreement on the part of Sublessee
to be performed pursuant to the terms of this Sublease or from any willful misconduct or negligence on the part of Sublessee or any of
its agents, employees, licensees, invitees or assignees or any person claiming through or under Sublessee. Sublessee further agrees to
indemnify Sublessor and Prime Lessor and their respective officers, agents and employees from and against any and all damages, liabilities,
costs and expenses, including reasonable attorneys’ fees, incurred in connection with any such indemnified claim or any action or
proceeding brought in connection therewith. The provisions of this Paragraph are intended to supplement any other indemnification provisions
contained in this Sublease and in the Prime Lease to the extent incorporated by reference herein. Any non-liability, indemnity or hold
harmless provisions in the Prime Lease for the benefit of Prime Lessor that are incorporated herein by reference shall be deemed to inure
to the benefit of Sublessor and Prime Lessor for the purpose of incorporation by reference in this Sublease.


 






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9.
No Assignment or Subletting. Other than as set forth in the Prime Lease, Sublessee shall not assign, sell, mortgage,
pledge or in any manner transfer this Sublease or any interest herein, or the term or estate granted hereby or the rentals hereunder,
or sublet the Subleased Premises or any part thereof, or grant any concession or license or otherwise permit occupancy of all or any part
of the Subleased Premises by any person, without the prior written consent of Sublessor and Prime Lessor, which consent as to Sublessor
shall not be unreasonably withheld, conditioned or delayed and as to Prime Lessor shall be granted or withheld in accordance with the
terms and provisions of the Prime Lease. In addition to the rights set forth in the Prime Lease, Sublessor may exercise any other remedies
available at law or in equity. No subletting or assignment shall release Sublessee of Sublessee’s obligation or alter the primary
liability of Sublessee to pay the Base Rent and Extra Rent and to perform all other obligations to be performed by Sublessee under the
Sublease.


 


10. Primacy and
Incorporation of Prime Lease.


 


(a)
This Sublease is and shall be subject and subordinate to the Prime Lease and to all amendments, modifications and replacements
of or to the Prime Lease, but only as such are permitted pursuant to this Sublease. Sublessor conveys, and Sublessee takes hereby, no
greater rights then those accorded to or taken by Sublessor as “Tenant” under the terms of the Prime Lease, and likewise,
except as set forth herein, is granted all benefits afforded “Tenant” under the Prime Lease. To the extent incorporated herein,
Sublessee covenants and agrees that it will perform and observe all of the provisions contained in the Prime Lease to be performed and
observed by the “Tenant” thereunder as applicable to the Subleased Premises, except that “Rent” shall be defined
for purposes of this Sublease as set forth in Section 4 hereof. Notwithstanding the foregoing, Sublessee shall have no obligation to (i)
cure any default of Sublessor under the Prime Lease, (ii) perform any obligation of Sublessor under the Prime Lease which arose prior
to the Commencement Date and Sublessor failed to perform, (iii) repair any damage to the Subleased Premises caused by Sublessor, (iv)
remove any alterations or additions installed within the Subleased Premises by or for Sublessor, or (v) indemnify Sublessor for any damages
that directly result from any gross negligence or willful misconduct by Sublessor or its agents, employees or contractors. Except to the
extent inconsistent with the context hereof, capitalized terms used and not otherwise defined herein shall have the meanings ascribed
to them in the Prime Lease. Further, except as set forth in the last paragraph of this Section (a), the terms, covenants and conditions
of the Prime Lease are incorporated and made a part of this Sublease as they relate to the Subleased Premises as if such terms, covenants
and conditions were stated herein to be the terms, covenants and conditions of this Sublease, so that except to the extent that they are
inconsistent with or modified by the provisions of this Sublease, for the purpose of incorporation by reference, each and every referenced
term, covenant and condition of the Prime Lease binding upon or inuring to the benefit of the “Landlord” thereunder shall,
in respect of this Sublease and the Subleased Premises, be binding upon or inure to the benefit of Sublessor, and each and every referenced
term, covenant and condition of the Prime Lease binding upon or inuring to the benefit of the “Tenant” thereunder shall, in
respect of this Sublease, be binding upon or inure to the benefit of Sublessee, with the same force and effect as if such terms, covenants
and conditions were completely set forth in this Sublease. It is the intent of the parties that to the extent any terms or provisions
of this Sublease are inconsistent or conflict with the Prime Lease, other than the Base Rent, the terms of the Prime Lease shall control.
For purposes of this Sublease, as to such incorporated terms, covenants and conditions:


 


(i) references in the
Prime Lease to the “Premises” to the “Additional Premises” shall be deemed to refer to the “Subleased
Premises” hereunder;


 






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(ii) references in the
Prime Lease to “Landlord” and to “Tenant” shall be deemed to refer to “Sublessor” and
“Sublessee” hereunder, respectively, except that where the term “Landlord” is used in the context of
ownership or management of the entire Building, such term shall be deemed to mean “Prime Lessor”;


 


(iii) references
in the Prime Lease to “this Lease” shall be deemed to refer to “this Sublease” (except when such reference
in the Prime Lease is, by its terms (unless modified by this Sublease), a reference to any other section of the Prime Lease, in
which event such reference shall be deemed to refer to the particular section of the Prime Lease);


 


(iv) references
in the Prime Lease to the “Term Commencement Date” shall be deemed to refer to the “Commencement Date”
hereunder;


 


(v) references in the
Prime Lease to “Term” shall be deemed to refer to the Term of this Sublease.


 


Sublessor shall have the rights against Sublessee
as would be available to Landlord against the Tenant under the Prime Lease if such breach was by the Tenant thereunder. Sublessee shall
have the same rights against Sublessor as would be available to Tenant against the Landlord under the Prime Lease if such breach was by
the landlord thereunder.


 


(b)
Notwithstanding the foregoing, the following provisions of the Prime Lease and Exhibits annexed thereto are not incorporated herein
by reference and shall not, except as to definitions set forth therein, have any applicability to this Sublease:


 


Articles/Paragraphs/Sections
1, 2.1-2.6, 3, 4, 5, 7.1, 8, 9.6, 13.5, 16.8, 17, 41, and 42.


 


(c)
Notwithstanding anything to the contrary contained in the Prime Lease, the time limits (the “Notice Periods”)
contained in the Prime Lease for the giving of notices, making of demands or performing of any act, condition or covenant on the part
of the “Tenant” thereunder, or for the exercise by the “Tenant” thereunder of any right, remedy or option, are
changed for the purposes of incorporation herein by reference by shortening the same in each instance by five (5) days, so that in each
instance Sublessee shall have five (5) fewer days to observe or perform hereunder than Sublessor has as the “Tenant” under
the Prime Lease; provided, however, that if the Prime Lease allows a Notice Period of five (5) days or less, then Sublessee
shall nevertheless be allowed the number of days equal to one-half of the number of days in each Notice Period to give any such notices,
make any such demands, perform any such acts, conditions or covenants or exercise any such rights, remedies or options; provided,
further, that if one-half of the number of days in the Notice Period is not a whole number, Sublessee shall be allowed the number
of days equal to one-half of the number of days in the Notice Period rounded up to the next whole number.


 






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11. Sublessor
Representations. Notwithstanding anything to the contrary contained in this Sublease (including, without limitation, the
provisions of the Prime Lease incorporated herein by reference), Sublessor makes no representations or warranties whatsoever with
respect to the Subleased Premises, this Sublease, Prime Lease or any other matter, either express or implied, except as otherwise
expressly set forth in this Sublease, except that Sublessor represents and warrants both as of the Effective Date as follows: (i)
that it is the sole holder of the interest of the “Tenant” under the Prime Lease and holds good leasehold title to the
Subleased Premises, (ii) that Sublessor has the legal power, right and authority to enter into this Sublease and the instruments
referenced herein and to consummate the transactions contemplated hereby, and the individual(s) executing this Sublease and
instruments referenced herein on behalf of Sublessor have the legal power, right, and authority to bind Sublessor to the terms and
conditions hereof and that the Sublease is enforceable in accordance with its terms and is in full force and effect, (iii) that the
Prime Lease is in full force and effect, (iv) there currently are no defaults or events of default under the Prime Lease, and there
are no events which, with the passage of time and/or the giving of notice, would constitute a default or event of default under the
Prime Lease, (v) to the Sublessor’s knowledge, Prime Lessor is not in default under the Prime Lease, (vi) other than those
that have been obtained and that are in full force and effect, the execution, delivery, and performance by Sublessor of this
Sublease does not require the consent, waiver, approval, license, or authorization of, or any notice to or filing with, any person,
entity, or governmental authority, except for the Consent, (vii) a true, accurate, and complete copy of the Prime Lease is attached
hereto as Exhibit A, and there have been no modifications, amendments (including amendments to appendices) or changes to
the Prime Lease, and the Prime Lease constitutes the entire agreement between Prime Lessor and Sublessor with regard to the
Subleased Premises, (viii) Sublessor has no defenses, setoffs, or counterclaims to the payment of amounts due from Sublessor to
Prime Lessor under the Prime Lease and no dispute currently exists under the Prime Lease, (ix) the execution and delivery of this
Sublease will not conflict with or constitute a breach or default of any material terms of any note, contract, mortgage, deed of
trust, lease, sublease, or other agreement or instrument to which Sublessor is a party or by which it is bound, (x) there are no
actions, lawsuits, or proceedings pending or threatened against or relating to Sublessor’s ownership or use of the Subleased
Premises, and Sublessor has not received any written notice from any city, county, state, or other governmental agency claiming a
violation of any applicable laws relating to the Subleased Premises, and (xi) Sublessor has not contracted for any services or goods
or created any obligations that will bind Sublessee as successor-in-interest with respect to the Subleased Premises except as set
forth in this Sublease.


 


12. Compliance
with Prime Lease. Sublessee shall neither do nor permit anything to be done which would cause the Prime Lease to be
terminated or forfeited by reason of any right of termination or forfeiture reserved or vested in Prime Lessor under the Prime
Lease; provided, however, that this provision shall not require Sublessee to act or refrain from acting where
otherwise permitted in this Sublease. Sublessee shall defend, indemnify and hold Sublessor harmless from and against any and all
claims, liabilities, losses, damages, and expenses (including reasonable attorneys’ fees) of any kind whatsoever by reason of
any breach or default by Sublessee of this Section 12.


 


Sublessor shall neither do
nor permit anything to be done which would cause the Prime Lease to be terminated or forfeited voluntarily or by reason of any right of
termination or forfeiture reserved or vested in Prime Lessor under the Prime Lease; provided, however, that this provision
shall not require Sublessor to act or refrain from acting where otherwise permitted in this Sublease. Sublessor shall defend, indemnify,
and hold Sublessee harmless from and against any and all claims, liabilities, losses, damages, and expenses (including reasonable attorneys’
fees) of any kind whatsoever by reason of any breach or default by Sublessor of this Section 12. Sublessor will not amend, alter or modify
any of the provisions of the Prime Lease in a manner that increases the Rent or other amounts payable by Sublessee pursuant to this Sublease
without, in each instance, Sublessee’s consent in its sole and absolute discretion.


 






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13. Security
Deposit. Within two (2) business days after the Effective Date, Sublessee shall deposit with Sublessor a letter of credit
for the amount of $843,813.17 (the “Security Deposit”) which sum shall be held by Sublessor as security for the
faithful performance by Sublessee of all of the terms, covenants and conditions of this Sublease. Upon Sublessee providing
confirmation in writing of raising a Series A equal to or greater than $100M, the amount of the Security Deposit shall be reduced to
$632,859.88. The provisions of Section 11 of the Prime Lease shall govern the Security Deposit, provided, however, that the Security
Deposit must be in the form of a Letter of Credit pursuant to Section 11 of the Prime Lease delivered by Sublessee to Sublessor.


 


14. Brokerage.
Sublessee and Sublessor each represents that it has not dealt with any broker in connection with this Sublease. Each party agrees to
indemnify and hold harmless the other from and against any and all liabilities, claims, suits, demands, judgments, costs, interest,
and expenses (including, without being limited to, reasonable attorneys’ fees and expenses) which the indemnified party may be
subject to or suffer by reason of any breach of the foregoing representations..


 


15. Notices.
All notices, consents, approvals, demands, bills, statements, and requests which are required or desired to be given by either party
to the other hereunder shall be in writing and shall be governed by Section 24 of the Prime Lease as incorporated herein by
reference.


 


(a)
Address for Notices to Sublessor:


 


Surface Oncology, Inc.

50 Hampshire Street

Cambridge, MA 02139

Attn: General Counsel


 


(b)
Address for Notices to Sublessee:


 


Prior to the Commencement Date:


 


EQRX

                                       

                                       

Attn:                              


 


After the Commencement Date:


 


EQRX

                                     

                                     

Attn:                            


 






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16.
Interpretation. This Sublease shall be construed without regard to any presumption or other rule requiring construction
against the party causing this Sublease to be drafted. Each covenant, agreement, obligation or other provision of this Sublease shall
be deemed and construed as a separate and independent covenant of the party bound by, undertaking or making the same, which covenant,
agreement, obligation or other provision shall be construed and interpreted in the context of the Sublease as a whole. All terms and words
used in this Sublease, regardless of the number or gender in which they are used, shall be deemed to include any other number and any
other gender as the context may require. The word “person” as used in this Sublease shall mean a natural person or persons,
a partnership, a corporation or any other form of business or legal association or entity. Terms used herein and not defined shall have
the meaning set forth in the Prime Lease.


 


17.
Signage. Sublessor shall obtain for Sublessee a Building-standard listing on the main Building lobby directory for Sublessee.


 


18.
Right to Cure Defaults. If Sublessee or Sublessor shall at any time fail to make any payment or perform any other obligation
pursuant to this Sublease, then the other shall have the right, but not the obligation, after notice to the defaulting party in accordance
with Section 16 of this Sublease, or without notice to the other in the case of any emergency, and without waiving or releasing the other
from any obligations of the other hereunder, to make such payment or perform such other obligation of the other in such manner and to
such extent as the non-defaulting party shall deem reasonably necessary, and in exercising any such right, to pay any incidental costs
and expenses, employ attorneys, and incur and pay reasonable attorneys’ fees. The defaulting party shall pay to the non-defaulting
party ten (10) days after demand all reasonable sums so paid by the non-defaulting party and all incidental costs and expenses of the
non-defaulting party in connection therewith, together with interest thereon at an annual rate equal to ten percent (10%) per annum, or
the highest rate permitted by applicable law, whichever shall be less. Such interest shall be payable with respect to the period commencing
on the date such expenditures are made by the non-defaulting party and ending on the date such amounts are repaid by the defaulting party.
The provisions of this Paragraph shall survive the Expiration Date or the sooner termination of this Sublease.


 


19.
Termination of Prime Lease. If for any reason the term of the Prime Lease shall terminate prior to the last day of the
Term of this Sublease (as the case may be), this Sublease shall thereupon automatically terminate as to the premises demised under the
Prime Lease and Sublessor shall not be liable to Sublessee by reason thereof except as otherwise set forth in this Sublease.


 


Neither Sublessor nor Sublessee
shall do or permit anything to be done which would cause the Prime Lease to be terminated or forfeited by reason of any right of termination
or forfeiture reserved or vested in Prime Lessor or in Sublessor under the Prime Lease Sublessor and Sublessee each shall defend, indemnify,
and hold the other harmless from and against any and all claims, liabilities, losses, damages, and expenses (including reasonable attorneys’
fees) of any kind whatsoever by reason of any breach or default on the part of Sublessor or Sublessee (as the case may be) by reason of
which the Prime Lease may be terminated or forfeited.


 


Sublessor shall perform all
of its obligations under the Prime Lease, and agrees to keep and maintain the Prime Lease in full force and effect. In the event that
either Sublessor or Sublessee shall receive any notice from Prime Lessor regarding a default pursuant to any of the provisions of the
Prime Lease, the party receiving such notice shall promptly give a copy thereof to the other party. Further, Sublessor and Sublessee each
agrees to give to the other a copy of any notice of default, event of default, or otherwise under the Prime Lease that said party gives
to Prime Lessor.


 






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20.
Sublessee Hazardous Material Activity.


 


(a)
At all times during the Term, Sublessee shall maintain, at its sole cost and expense, environmental control and safety management
services related to Sublessee’s activities in the Subleased Premises (the “EH&S Services”). The EH&S
Services shall be provided by parties reasonable acceptable to Sublessor and in a manner reasonably acceptable to Sublessor.


 


(b)
Without limiting the generality of Section 10 of this Sublease, Sublessee shall (i) at all times during the Term, comply with the
provisions of Section 21 of the Prime Lease regarding the storage and use of Hazardous Materials on the Subleased Premises, and (ii) prior
to the expiration or termination of the Term, comply with the provisions of Section 27, including, but not limited to the preparation
and execution of an Exit Survey (subject to prior approval by Sublessor and Prime Lessor).


 


21.
Quiet Enjoyment. Sublessor covenants that if Sublessee is not in default beyond the expiration of any applicable notice
and cure periods, then Sublessee shall quietly enjoy and occupy the full possession of the Subleased Premises without molestation or hindrance
by Sublessor or any party claiming through Sublessor.


 


22.
No Privity of Estate. Nothing contained in this Sublease shall be construed to create privity of estate or of contract
between Sublessee and Prime Lessor.


 


23.
No Waiver. The failure of either party to insist in any one or more cases upon the strict performance or observance
of any obligation of the other party hereunder or to exercise any right or option contained herein shall not be construed as a waiver
or relinquishment for the future performance of any such obligation of such party or any right or option of the other party. Sublessor’s
receipt and acceptance of Rent or Sublessor’s acceptance of performance of any other obligation by Sublessee, with knowledge of
Sublessee’s breach of any provision of this Sublease, shall not be deemed a waiver of such breach. No waiver of any term, covenant
or condition of this Sublease shall be deemed to have been made unless expressed in writing and signed by both parties.


 


24.
Complete Agreement. This Sublease constitutes the entire agreement between the parties and there are no representations,
agreements, arrangements or understandings, oral or written, between the parties relating to the subject matter of this Sublease which
are not fully expressed in this Sublease. This Sublease cannot be changed or terminated orally or in any manner other than by a written
agreement executed by both parties. This Sublease shall not be binding upon either party unless and until it is signed and delivered by
and to both parties, and is further subject to Section 28.


 


25.
Successors and Assigns. The provisions of this Sublease, except as herein otherwise specifically provided, shall extend
to, bind, and inure to the benefit of the parties hereto and their respective personal representatives, heirs, successors, and permitted
assigns.


 


26.
Governing Law; Jurisdiction. This Sublease shall be construed in accordance with, and governed in all
respects by, the laws of the Commonwealth of Massachusetts (without giving effect to principles of conflicts of laws that would require
the application of any other law). Sublessor and Sublessee agree to submit to the jurisdiction of the state and federal courts located
in the Commonwealth of Massachusetts, with venue in the County of Middlesex, and waive any defense of inconvenient forum to the maintenance
of any action or proceeding in such courts.


 






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27.
Waiver of Jury Trial and Right to Counterclaim. The parties hereto hereby waive any rights which they may have to trial
by jury in any summary action or other action, proceeding or counterclaim arising out of or in any way connected with this Sublease, the
relationship of Sublessor and Sublessee, the Subleased Premises and the use and occupancy thereof, and any claim for injury or damages.
Sublessee also hereby waives all right to assert or interpose a counterclaim (other than mandatory counterclaims) in any summary proceeding
or other action or proceeding to recover or obtain possession of the Subleased Premises.


 


28.
Consent of Prime Lessor. This Sublease is contingent on the approval and consent of Prime Lessor, which Sublessor agrees
to use all reasonable efforts to obtain. This Sublease shall not become effective unless and until a written approval and consent (the
“Consent”) is executed and delivered by the Prime Lessor and Sublessee on terms and conditions satisfactory to Sublessee
in its sole discretion. After the Sublessor receives the Consent as executed by Prime Lessor, Sublessor agrees to promptly deliver a fully
executed original of the Consent to Sublessee. The effect and commencement of this Sublease is subject to and conditional upon the receipt
by Sublessor and Sublessee of the Consent executed by Prime Lessor. Upon execution of this Sublease by Sublessee, Sublessor will promptly
apply to the Prime Lessor for the Consent and Sublessor will promptly inform Sublessee as to receipt of the Consent (if and when it is
received) and deliver to Sublessee a copy of the same.


 


Sublessee shall reimburse
Sublessor for Prime Landlord’s actual costs and expenses, including reasonable attorneys’ fees, charges and disbursements
incurred in connection with reviewing the Sublease and processing, drafting and negotiating the Consent, not to exceed $2,500.


 


If the Consent is not received
within thirty (30) business days after this Sublease is fully executed by both Sublessor and Sublessee (the “Sunset Date”),
then from and after the Sunset Date this Sublease will cease to have any further effect and the parties hereto will have no further obligations
to each other with respect to this Sublease and any funds paid hereunder by Sublessee shall be promptly refunded by Sublessor.


 


29.
Holdover. If Sublessee remains in possession of either the Subleased Premises after the last day of the occupancy of
such Subleased Premises as set forth in Section 1 (as the case may be) without the express written consent of Sublessor, (a) Sublessee
shall become a tenant at sufferance upon the terms of this Sublease except that the monthly rental shall be equal to 150% of Rent in effect
during the last 30 days of the Term, and (b) Sublessee shall be responsible for all damages suffered by Sublessor resulting from or occasioned
by Sublessee’s holding over, including consequential damages. No holding over by Sublessee, whether with or without consent of Sublessor,
shall operate to extend this Sublease. Acceptance by Sublessor of Rent after the expiration of the Term or earlier termination of this
Sublease shall not result in a renewal or reinstatement of this Sublease.


 


30.
Recording. Sublessor and Sublessee agree that neither party may record this Sublease.


 


31.
Public Statements. Neither party will make any public statements or releases concerning this Sublease, or use the other
party’s name in any form of advertising, promotion or publicity, without obtaining the prior written consent of the other party,
which consent will not be unreasonably withheld or delayed.


 






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32.
Limitation of Liability. Notwithstanding any indemnities or other provisions hereof to the contrary, in no event shall
Sublessor or Sublessee be responsible for any consequential, incidental, special or punitive damages, except as specifically set forth
herein or in the Prime Lease.


 


33.
Certain Definitions.


 


(a)
All capitalized terms not defined in this Sublease shall have the meanings ascribed to them in the Prime Lease.


 


(b)
The terms “herein”, “hereunder”, and “hereof’ shall refer to this Sublease as a whole unless
the context otherwise indicates.


 


34.
Counterparts. This Sublease may be executed in multiple counterparts, each of which shall be deemed an original but
all of which taken together shall constitute one and the same instrument. The undersigned may rely upon facsimile counterparts signed
by each other, but shall promptly upon the request of the other exchange executed original signature pages.


 


35.
Time is of the essence. Time is of the essence with respect to each provision of this Sublease.


 


36.
Notwithstanding the foregoing, (a) Sublessor shall use good faith efforts, under the circumstances, to secure performance of
Prime Lessor’s obligations under the Prime Lease upon Sublessee’s written request to Sublessor to do so and shall thereafter
diligently prosecute such performance on the part of Prime Lessor and (b) if Sublessor shall be entitled to any abatement of rent by reason
of any failure on the part of Prime Lessor to perform its obligations or to provide services to the Subleased Premises, Sublessee shall
be entitled to a proportionate abatement of rent payable to Sublessor to the extent such abatement is actually made; provided,
however, that Sublessee shall reimburse Sublessor for reasonable costs and expenses incurred by Sublessor in connection with such
efforts. As long as this Sublease is in full force and effect, Sublessee shall be entitled, with respect to the Subleased Premises, to
the benefit of Prime Lessor’s obligations and agreements under the Prime Lease to furnish utilities and other services to the Subleased
Premises and to repair and maintain the common areas, roof, building systems and all other obligations of Prime Lessor under the Master
Lease.


 


37.
Notwithstanding anything contained in this Sublease to the contrary, Sublessee shall not be responsible for (i) any default
of Sublessor, its agents, employees or contractors under the Prime Lease unless attributable to a default under this Sublease or the Prime
Lease by Sublessee, its agents, employees, contractors, invitees or anyone claiming by, through or under Sublessee, (ii) conditions at
the Subleased Premises, for which the obligation to maintain and repair resides with Prime Lessor under the Prime Lease and/or which existed
as of the Commencement Date, (iii) any violations of law resulting from such conditions described by (ii) above, (iv) the payment
of any charges, fees and other costs imposed by Prime Lessor on Sublessor as a result of Sublessor’s default under the Prime Lease
(unless due to any default by Sublessee under this Sublease), and (v) making payment of any sums either to Prime Lessor or Sublessor in
satisfaction of any charges accruing under the Prime Lease (whether denominated as rent, rental, additional rent or otherwise) for any
period prior or subsequent to the Term of this Sublease.


 


[Remainder of Page Intentionally Left Blank]


 




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IN WITNESS WHEREOF,
Sublessor and Sublessee have executed this Sublease as a sealed instrument as of the date first written above.


 


	 	SUBLESSOR:
	 	SURFACE
    ONCOLOGY, INC.
	 	 
	 	By: 	/s/ Jeff Goater
	 	Name:  	Jeff Goater
	 	Title: 	Chief Executive Officer
	 	 
	 	SUBLESSEE:
	 	EQRX,
    INC.
	 	 
	 	By: 	/s/ Melanie Nallicheri
	 	Name: 	Melanie Nallicheri
	 	Title: 	President &COO



 




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EXHIBIT A


 


PRIME LEASE


 


See Exhibit 10.16


 




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EXHIBIT B


 


SEVENTH FLOOR PREMISES


 




    16


     


    

 


EXHIBIT C


 


FURNITURE


 




    17


     


    

 


EXHIBIT D


 


WORK LETTER


 


[***]


 




    18


     


    

 


CONSENT TO SUBLEASE


 


[***]


 


 


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