ex102-thirdamendmenttole






    1/2                      Exhibit 10.2    [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN  OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR  CONFIDENTIAL.      THIRD AMENDMENT TO LEASE      This THIRD AMENDMENT TO LEASE (this “Amendment”) between B&N 141-302, LLC, a Washington limited liability  company (“Landlord”) and SEATTLE GENETICS, INC., a Delaware corporation (“Tenant”).  Tenant, and Landlord, as successor owner to WCM 132-302, LLC, are parties to that certain Lease dated December 1, 2000, as  amended by that certain First Amendment to Lease dated May 28, 2003 and that certain Second Amendment to Lease dated July 1, 2008  (as amended, the “Lease”). Capitalized terms which are not defined herein shall have the meanings set forth in the Lease.  WCM HIGHLANDS II, LLC, an affiliate of Landlord, and Tenant are in the process of entering into a lease for the building located  at 21717 30th Drive SE (the “Ridgepoint Lease”). In order to induce the landlord to provide a $[ * ] allowance in the Ridgepoint Lease,  Tenant has agreed to cancel the termination options contained in the Lease.  Landlord and Tenant agree as follows:    1. CANCELLATION OF TERMINATION RIGHTS. In consideration of the inclusion of a $[ * ] allowance for lobby  improvements in the Ridgepoint Lease, Tenant’s termination rights set forth in Section 7 of the Second Amendment to the Lease are  hereby cancelled.  2. EFFECTIVE DATE. This Amendment shall take effect upon the mutual execution and delivery of the Ridgepoint Lease.    3. NO OTHER AMENDMENTS. Except as modified by this Amendment, the First and Second Amendment, the Lease remains in  full force and effect and has not been modified or amended.    DATED: May 9, 2011 L andlord: B&N 131-302, LLC,  a Washington limited liability company    By: Washington Capital Management, Inc.  Its: Manager    By: / s/ Cory A. Carlson  Cory A. Carlson, President    T enant: SEATTLE GENETICS, INC.,  a Delaware corporation    By: / s/ Clay B. Siegall, PhD  Its: President & CEO      





 






    2/2        STATE OF WASHINGTON )  ) ss.  COUNTY OF KING )    I certify that I know or have satisfactory evidence that Patrick S. Malley is the person who appeared before me, and said person  acknowledged that he/she signed this instrument, on oath stated that he/she was authorized to execute the instrument and acknowledged it  as Senior Vice President of Washington Capital Management, Inc., Manager of B&N 141-302, LLC, a Washington limited liability  company to be the free and voluntary act of such party for the uses and purposes mentioned in this instrument.    DATED: May 9, 2011.                STATE OF WASHINGTON )  ) ss.  COUNTY OF KING )    /s/ Jennifer Ourada  (Signature of Notary Public)  Jennifer Ourada      (Printed Name of Notary Public)  My Appointment expires 8-20-14    I certify that I know or have satisfactory evidence that Todd Simpson is the person who appeared before me, and said person  acknowledged that he/she signed this instrument, on oath stated that he/she was authorized to execute the instrument and acknowledged it  as CFO of SEATTLE GENETICS, INC., a Delaware corporation to be the free and voluntary act of such party for the uses and purposes  mentioned in this instrument.    DATED: May 9, 2011.   /s/ Amy L. Olofson  (Signature of Notary Public)  Amy L. Olofson      (Printed Name of Notary Public)  My Appointment expires 10-9-14