EXTENSION AND SECOND AMENDMENT
TO LEASE


 


This Extension and Second Amendment to Lease (the “Amendment”)
is made this 23 day of October, 2012, by and between Martens Properties L.L.L.P., a Maryland limited liability limited partnership
(“Landlord”) and Vaccinogen LLC (“Tenant”).


 


WITNESSETH:


 


WHEREAS, Landlord and Tenant entered
into a certain Lease, dated October 24, 2007, pursuant to which Tenant leased four thousand and sixty four (4,064) square feet,
known as Suite 406 (the “Leased Premises”), in the commercial office building known as Westview Office Court located
at 5300 Westview Drive, Frederick, Maryland 21710 (the “Building”), and


 


WHEREAS, the term of the Lease will
expire on October 31, 2012, and Landlord and Tenant desire to extend the term of the Lease and amend certain other terms and conditions
hereinafter set forth;


 


NOW THEREFORE, in consideration
of the premises and mutual covenants and agreements contained herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:


 


1. Extension of Lease Term.
The term of the Lease is hereby extended for a period of six (6) months, commencing on November 1, 2012 (“Extension Commencement
Date”) and expiring April 30, 2013 (“Lease Expiration Date”). This First Extension Term shall be upon all the
same terms and conditions as set forth in the Lease with respect to the Initial Term thereof, except as modified herein. Tenant
will be provided one (1) additional six (6) month extension period by providing Landlord with sixty days (60) prior written notice
by February 28, 2013 (hereinafter referred to as "Second Extension Period"). In the Second Extension Period Landlord
shall have the right to terminate the lease, at any time, by providing sixty (60) days prior written notice to Tenant. All provisions
of the Lease shall govern during any extension period. .


 


2. Base Rent. As of the Extension
Commencement Date, the Base Rent amount of Five Thousand Eighty Nine and 38/100 Dollars ($5,089.38) shall be paid in equal monthly
installments.,


 


3. Additional Rent.  In addition
to paying the Base Rent specified in Paragraph 2 above, Tenant shall remain obligated to pay to Landlord the amounts determined
to be Tax Adjustment and Expense Adjustment (collectively called “Additional Rent”) upon the same terms and conditions
as set forth in the Initial Lease.


 


4. Brokers. Tenant represents
and warrants to Landlord that Tenant has not dealt with any realtor, broker, agent, or finder in connection with this Amendment
other than McShea and Company, Inc. (“Landlord’s Agent”). Tenant shall indemnify and hold Landlord harmless from
and against any loss, claim, damage, expense or liability for any compensation, commission, or charges claimed by any other realtor,
broker, agent, or finder claiming to have dealt with Tenant in connection with this Amendment.


 


5. Reaffirmation of Terms.
All other terms, covenants, and provisions of the Lease not expressly modified and amended hereby shall remain in full force and
effect, and are hereby ratified and confirmed in all respects.


  


IN WITNESS WHEREOF, the parties hereto have duly executed
this Second Amendment to Lease on the day and year first written above.


 




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	WITNESS	 	TENANT
		 	VACCINOGEN LLC
	 	 	 	 
	 	 	By:	/s/ Michael G. Hanna
	 	 	 	 
	 	 	Date:	23 October 2012
	 	 	 	 
	 	 	LANDLORD
	WITNESS	 	MARTENS PROPERTIES L.L.L.P.
	 	 	 	 
	 	 	By:	 
	 	 	 	 
		 	Date:	 


 




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