Document:

Exhibit 10.21

 Exhibit 10.21 

 
 

 
 1. Basic Provisions (“Basic Provisions”). 

 

							
	
1.1 Parties: This Lease (“Lease”), dated for reference purposes only
	 	 July 22, 2004
	 	,

							
	is made by and between	 	 LMC-Sorrento Investment Company, LLC, a California
limited

							
	         liability company
	  	(“Lessor”)	 	

							
	and	 	             Ambit Biosciences
Corporation, a Delaware corporation

	  

	  

	  

					
	  
	 	(“Lessee”), (collectively the “Parties”, or individually a “Party”).

  

							
	 1.2(a) Premises: That certain portion of the Project (as defined below), including all improvements therein or to be provided
by

	Lessor under the terms of this Lease, commonly known by the street address 
of	 	 described in the Addendum
	 	,

																	
	located in the City of	 	
                   
                                         
                 
	 		 	,	 	County of	 	
                
                                         
                
	 	,	 	State of	 	

                        
                        , with zip code
                , as outlined on Exhibit      attached hereto (“Premises”) and generally described as (describe briefly the nature
of the
Premises):                                      
                                         
                                     . 

In addition to Lessee’s rights to use and occupy the Premises as hereinafter specified, Lessee shall have non-exclusive rights to the Common Areas
(as defined in Paragraph 2.7 below) as hereinafter specified, but shall not have any rights to the roof, exterior walls or utility raceways of the building containing the Premises (“Building”) or to any other buildings in the Project. The
Premises, the Building, the Common Areas, the land upon which they are located, along with all other buildings and improvements thereon, are herein collectively referred to as the “Project.” (See also Paragraph 2) 

1.2(b) Parking:
                    76                    
unreserved vehicle parking spaces (“Unreserved Parking Spaces”); and 

                         
                reserved vehicle parking spaces (“Reserved Parking Spaces”). (See also Paragraph 2.6) 

1.3 Term:         see Addendum        
years and              months (“Original Term”) commencing
                                       
                 (“Commencement Date”) and
ending                                      
                   (“Expiration Date”). (See also Paragraph 3) 

1.4 Early Possession:
                                        
N/A                             (“Early Possession Date”). (See also Paragraphs 3.2 and
3.3) 
 1.5 Base Rent: $        see
Addendum                 per month (“Base Rent”), payable on the
        first         day of each month commencing
                    see
Addendum                                        
        . (See also Paragraph 4) x If this box is checked, there are provisions in this Lease for the Base Rent to be adjusted. 

1.6 Lessee’s Share of Common Area Operating Expenses:
fifty             percent (50%) (“Lessee’s Share”). 
 1.7 Base Rent and Other Monies Paid Upon Execution: 
  

	 	(a)	Base Rent: $ 65,107.00         for the period         first
month                                        
            . 

  

	 	(b)	Common Area Operating Expenses: $                     
for the period         first month (estimated). 

  

	 	(c)	Security Deposit: $ 65,107.00         (“Security Deposit”). (See also Paragraph 5)

  

	 	(d)	Other: $ N/A             for
N/A             

  

	 	(e)	Total Due Upon Execution of this Lease: $   see Addendum 

 

			
	 1.8 Agreed Use:
	 	 see Addendum

	  

	  
	 	. (See also Paragraph 6)

 1.9 Insuring Party. Lessor is the “Insuring Party.” (See also Paragraph 8)

 1.10 Real Estate Brokers: (See also Paragraph 15) 

(a) Representation: The following real estate brokers (the “Brokers”) and brokerage relationships exist in this
transaction (check applicable boxes): 
  ̈ Grubb & Ellis/BRE
Commercial                                        
                         represents Lessor exclusively (“Lessor’s Broker”); 

 ̈ Irving Hughes
                                         
                                         
           represents Lessee exclusively (“Lessee’s Broker”); or 
  ̈
                                         
                                         
                                   represents both Lessor and Lessee
(“Dual Agency”). 
 (b) Payment to Brokers: Upon execution and delivery of this Lease by both Parties,
Lessor shall pay to the Brokers the brokerage fee agreed to in a separate written agreement (or if there is no such agreement, the sum of              or
     % of the total Base Rent for the brokerage services rendered by the Brokers). 
 1.11
Guarantor. The obligations of the Lessee under this Lease are to be guaranteed by
    N/A                                    
    
                                         
                                         
                                         
                  (“Guarantor”). (See also Paragraph 37) 
 1.12 Addenda and Exhibits. Attached hereto is an Addendum or Addenda consisting of Paragraphs   1.2   through   54   and Exhibits
  1 through   2 , all of which constitute a part of this Lease. 
 2. Premises. 

2.1 Letting. Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, the Premises, for the term, at the rental, and
upon all of the terms, covenants and conditions set forth in this Lease. Unless otherwise provided herein, any statement of size set forth in this Lease, or that may have been used in calculating Rent, is an approximation which the Parties agree is
reasonable and any payments based thereon are not subject to revision whether or not the actual size is more or less. 
 2.2
Condition. Lessor shall deliver that portion of the Premises contained within the Building (“Unit”) to Lessee broom clean and free of debris on the Commencement Date or the Early Possession Date, whichever first occurs
(“Start Date”), and, so long as the required service contracts described in Paragraph 7.1(b) below are obtained by Lessee and in effect within thirty days following the Start Date, warrants that the existing electrical, plumbing,
fire sprinkler, lighting, heating, ventilating and air conditioning systems (“HVAC”), loading doors, if any, and all other such elements in the Unit, other than those constructed by Lessee, shall be in good operating condition on
said date and that the structural elements of the roof, bearing walls and foundation of the Unit shall be free of material defects. If a non-compliance with such warranty exists as of the Start Date, or if one of such systems or elements should
malfunction or fail within the appropriate warranty period, Lessor shall, as Lessor’s sole obligation with respect to such matter, except as otherwise provided in this Lease, promptly after receipt of written notice from Lessee setting forth
with specificity the nature and extent of such non-compliance, malfunction or failure, rectify same at Lessor’s expense. The warranty periods shall be as follows: (i) 6 months as to the HVAC systems, and (ii) 30 days as to the
remaining systems and other elements of the Unit. If Lessee does not give Lessor the required notice within the appropriate warranty period, correction of any such non-compliance, malfunction or failure shall be the obligation of Lessee at
Lessee’s sole cost and expense (except for the repairs to the fire sprinkler systems, roof, foundations, and/or bearing walls - see Paragraph 7). 
 2.3 Compliance. Lessor warrants that the improvements on the Premises and the Common Areas comply with the building codes that were in effect at the time that each such improvement, or portion
thereof, was constructed, and also with all applicable laws, covenants or restrictions of record, regulations, and ordinances in effect on the Start Date (“Applicable Requirements”). Said warranty does not apply to the use to which
Lessee will put the Premises or to any Alterations or Utility Installations (as defined in Paragraph 7.3(a)) made or to be made by Lessee. NOTE: Lessee is responsible for determining whether or not the Applicable Requirements,

  

							
	  
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and especially the zoning, are appropriate for Lessee’s intended use, and acknowledges that past uses of the Premises may no longer be allowed. If the Premises do not comply with said
warranty, Lessor shall, except as otherwise provided, promptly after receipt of written notice from Lessee setting forth with specificity the nature and extent of such non-compliance, rectify the same at Lessor’s expense. If Lessee does not
give Lessor written notice of a non-compliance with this warranty within 6 months following the Start Date, correction of that non-compliance shall be the obligation of Lessee at Lessee’s sole cost and expense. If the Applicable Requirements
are hereafter changed so as to require during the term of this Lease the construction of an addition to or an alteration of the Unit, Premises and/or Building, the remediation of any Hazardous Substance, or the reinforcement or other physical
modification of the Unit, Premises and/or Building (“Capital Expenditure”), Lessor and Lessee shall allocate the cost of such work as follows: 
 (a) Subject to Paragraph 2.3(c) below, if such Capital Expenditures are required as a result of the specific and unique use of the Premises by Lessee as compared with uses by tenants in general, Lessee
shall be fully responsible for the cost thereof, provided, however that if such Capital Expenditure is required during the last 2 years of this Lease and the cost thereof exceeds 6 months’ Base Rent, Lessee may instead terminate this Lease
unless Lessor notifies Lessee, in writing, within 10 days after receipt of Lessee’s termination notice that Lessor has elected to pay the difference between the actual cost thereof and the amount equal to 6 months’ Base Rent. If Lessee
elects termination, Lessee shall immediately cease the use of the Premises which requires such Capital Expenditure and deliver to Lessor written notice specifying a termination date at least 90 days thereafter. Such termination date shall, however,
in no event be earlier than the last day that Lessee could legally utilize the Premises without commencing such Capital Expenditure. 
 (b) If such Capital Expenditure is not the result of the specific and unique use of the Premises by Lessee (such as, governmentally mandated seismic modifications), then Lessor and Lessee shall allocate
the obligation to pay for the portion of such costs reasonably attributable to the Premises pursuant to the formula set out in Paragraph 7.1(d); provided, however, that if such Capital Expenditure is required during the last 2 years of this Lease or
if Lessor reasonably determines that it is not economically feasible to pay its share thereof, Lessor shall have the option to terminate this Lease upon 90 days prior written notice to Lessee unless Lessee notifies Lessor, in writing, within 10 days
after receipt of Lessor’s termination notice that Lessee will pay for such Capital Expenditure. If Lessor does not elect to terminate, and fails to tender its share of any such Capital Expenditure, Lessee may advance such funds and deduct same,
with interest, from Rent until Lessor’s share of such costs have been fully paid. If Lessee is unable to finance Lessor’s share, or if the balance of the Rent due and payable for the remainder of this Lease is not sufficient to fully
reimburse Lessee on an offset basis, Lessee shall have the right to terminate this Lease upon 30 days written notice to Lessor. 

(c) Notwithstanding the above, the provisions concerning Capital Expenditures are intended to apply only to non-voluntary, unexpected,
and new Applicable Requirements. If the Capital Expenditures are instead triggered by Lessee as a result of an actual or proposed change in use, change in intensity of use, or modification to the Premises then, and in that event, Lessee shall be
fully responsible for the cost thereof, and Lessee shall not have any right to terminate this Lease. 
 2.4
Acknowledgements. Lessee acknowledges that: (a) it has been advised by Lessor and/or Brokers to satisfy itself with respect to the condition of the Premises (including hut not limited to the electrical, HVAC and fire sprinkler systems,
security, environmental aspects, and compliance with Applicable Requirements and the Americans with Disabilities Act), and their suitability for Lessee’s intended use, (b) Lessee has made such investigation as it deems necessary with
reference to such matters and assumes all responsibility therefor as the same relate to its occupancy of the Premises, and (c) neither Lessor, Lessor’s agents, nor Brokers have made any oral or written representations or warranties with
respect to said matters other than as set forth in this Lease. In addition, Lessor acknowledges that: (i) Brokers have made no representations, promises or warranties concerning Lessee’s ability to honor the Lease or suitability to occupy
the Premises, and (ii) it is Lessor’s sole responsibility to investigate the financial capability and/or suitability of all proposed tenants. 
 2.5 Lessee as Prior Owner/Occupant. The warranties made by Lessor in Paragraph 2 shall be of no force or effect if immediately prior to the Start Date Lessee was the owner or occupant of the
Premises. In such event, Lessee shall be responsible for any necessary corrective work. 
 2.6 Vehicle Parking. Lessee
shall be entitled to use the number of Unreserved Parking Spaces and Reserved Parking Spaces specified in Paragraph 1.2(b) on those portions of the Common Areas designated from time to time by Lessor for parking. Lessee shall not use more parking
spaces than said number. Said parking spaces shall be used for parking by vehicles no larger than full-size passenger automobiles or pick-up trucks, herein called “Permitted Size Vehicles.” Lessor may regulate the loading and
unloading of vehicles by adopting Rules and Regulations as provided in Paragraph 2.9. No vehicles other than Permitted Size Vehicles may be parked in the Common Area without the prior written permission of Lessor. 

(a) Lessee shall not permit or allow any vehicles that belong to or are controlled by Lessee or Lessee’s employees, suppliers,
shippers, customers, contractors or invitees to be loaded, unloaded, or parked in areas other than those designated by Lessor for such activities. 
 (b) Lessee shall not service or store any vehicles in the Common Areas. 
 (c) If
Lessee permits or allows any of the prohibited activities described in this Paragraph 2.6, then Lessor shall have the right, without notice, in addition to such other rights and remedies that it may have, to remove or tow away the Vehicle involved
and charge the cost to Lessee, which cost shall be immediately payable upon demand by Lessor, 
 2.7 Common Areas -
Definition. The term “Common Areas” is defined as all areas and facilities outside the Premises and within the exterior boundary line of the Project and interior utility raceways and installations within the Unit that are
provided and designated by the Lessor from time to time for the general non-exclusive use of Lessor, Lessee and other tenants of the Project and their respective employees, suppliers, shippers, customers, contractors and invitees, including parking
areas, loading and unloading areas, trash areas, roadways, walkways, driveways and landscaped areas. 
 2.8 Common Areas -
Lessee’s Rights. Lessor grants to Lessee, for the benefit of Lessee and its employees, suppliers, shippers, contractors, customers and invitees, during the term of this Lease, the non-exclusive right to use, in common with others entitled
to such use, the Common Areas as they exist from time to time, subject to any rights, powers, and privileges reserved by Lessor under the terms hereof or under the terms of any rules and regulations or restrictions governing the use of the Project.
Under no circumstances shall the right herein granted to use the Common Areas be deemed to include the right to store any property, temporarily or permanently, in the Common Areas. Any such storage shall be permitted only by the prior written
consent of Lessor or Lessor’s designated agent, which consent may be revoked at any time. In the event that any unauthorized storage shall occur then Lessor shall have the right, without notice, in addition to such other rights and remedies
that it may have, to remove the property and charge the cost to Lessee, which cost shall be immediately payable upon demand by Lessor. 
 2.9 Common Areas - Rules and Regulations. Lessor or such other person(s) as Lessor may appoint shall have the exclusive control and management of the Common Areas and shall have the right, from
time to time, to establish, modify, amend and enforce reasonable rules and regulations (“Rules and Regulations”) for the management, safety, care, and cleanliness of the grounds, the parking and unloading of vehicles and the
preservation of good order, as well as for the convenience of other occupants or tenants of the Building and the Project and their invitees. Lessee agrees to abide by and conform to all such Rules and Regulations, and to cause its employees,
suppliers, shippers, customers, contractors and invitees to so abide and conform. Lessor shall not be responsible to Lessee for the non-compliance with said Rules and Regulations by other tenants of the Project. 

2.10 Common Areas - Changes. Lessor shall have the right, in Lessor’s sole discretion, from time to time: 

(a) To make changes to the Common Areas, including, without limitation, changes in the location, size, shape and number of driveways,
entrances, parking spaces, parking areas, loading and unloading areas, ingress, egress, direction of traffic, landscaped areas, walkways and utility raceways; 
 (b) To close temporarily any of the Common Areas for maintenance purposes so tong as reasonable access to the Premises remains available; 

(c) To designate other land outside the boundaries of the Project to be a part of the Common Areas; 

(d) To add additional buildings and improvements to the Common Areas; 

  

							
	  
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 (e) To use the Common Areas while engaged in making additional improvements, repairs or
alterations to the Project, or any portion thereof; and 
 (f) To do and perform such other acts and make such other changes in,
to or with respect to the Common Areas and Project as Lessor may, in the exercise of sound business judgment, deem to be appropriate. see Addendum 
 3. Term. 
 3.1 Term. The Commencement Date, Expiration Date and
Original Term of this Lease are as specified in Paragraph 1.3. 
 3.2 Early Possession. If Lessee totally or
partially occupies the Premises prior to the Commencement Date, the obligation to pay Base Rent shall be abated for the period of such early possession. All other terms of this Lease (including but not limited to the obligations to pay Lessee’s
Share of Common Area Operating Expenses, Real Property Taxes and insurance premiums and to maintain the Premises) shall, however, be in effect during such period. Any such early possession shall not affect the Expiration Date. 

3.3 Delay In Possession. Lessor agrees to use its best commercially reasonable efforts
to deliver possession of the Premises to Lessee by the Commencement Date. If, despite said efforts, Lessor is unable to deliver possession as agreed, Lessor shall not be subject to any liability therefor, nor shall such failure affect the validity
of this Lease. Lessee shall not, however, be obligated to pay Rent or perform its other obligations until it receives possession of the Premises. If possession is not delivered within 60 days after the Commencement Date, Lessee may, at its option,
by notice in writing within 10 days after the end of such 60 day period, cancel this Lease, in which event the Parties shall be discharged from all obligations hereunder. If such written notice is not received by Lessor within said 10 day period,
Lessee’s right to cancel shall terminate. Except as otherwise provided, if possession is not tendered to Lessee by the Start Date and Lessee does not terminate this Lease, as aforesaid, any period of rent abatement that Lessee would otherwise
have enjoyed shall run from the date of delivery of possession and continue for a period equal to what Lessee would otherwise have enjoyed under the terms hereof, but minus any days of delay caused by the acts or omissions of Lessee. If possession
of the Premises is not delivered within 4 months after the Commencement Date, this Lease shall terminate unless other agreements are reached between Lessor and Lessee, in writing. 

3.4 Lessee Compliance. Lessor shall not be required to tender possession of the Premises to Lessee until Lessee complies with its
obligation to provide evidence of insurance (Paragraph 8.5). Pending delivery of such evidence, Lessee shall be required to perform all of its obligations under this Lease from and after the Start Date, including the payment of Rent, notwithstanding
Lessor’s election to withhold possession pending receipt of such evidence of insurance. Further, if Lessee is required to perform any other conditions prior to or concurrent with the Start Date, the Start Date shall occur but Lessor may elect
to withhold possession until such conditions are satisfied. 
 4. Rent. 

4.1 Rent Defined. All monetary obligations of Lessee to Lessor under the terms of this Lease (except for the Security Deposit) are
deemed to be rent (“Rent”). 
 4.2 Common Area Operating Expenses. Lessee shall pay to Lessor during the
term hereof, in addition to the Base Rent, Lessee’s Share (as specified in Paragraph 1.6) of all Common Area Operating Expenses, as hereinafter defined, during each calendar year of the term of this Lease, in accordance with the following
provisions: 
 (a) “Common Area Operating Expenses” are defined, for purposes of this Lease, as all costs
incurred by Lessor relating to the ownership and operation of the Project, including, but not limited to, the following: see Addendum 
  

	 	(i)	The operation, repair and maintenance, in neat, clean, good order and condition of the following: 

(aa) The Common Areas and Common Area improvements, including parking areas, loading and unloading areas, trash areas, roadways,
parkways, walkways, driveways, landscaped areas, bumpers, irrigation systems, Common Area lighting facilities, fences and gates, elevators, roofs, and roof drainage systems. 
 (bb) Exterior signs and any tenant directories. 
 (cc) Any fire detection and/or
sprinkler systems. 
  

	 	(ii)	The cost of water, gas, electricity and telephone to service the Common Areas and any utilities not separately metered. 

 

	 	(iii)	Trash disposal, pest control services, property management, security services, and the costs of any environmental inspections. 

 

	 	(iv)	Reserves set aside for maintenance and repair of Common Areas. 

  

	 	(v)	Real Property Taxes (as defined in Paragraph 10). 

  

	 	(vi)	The cost of the premiums for the insurance maintained by Lessor pursuant to Paragraph 8. 

 

	 	(vii)	Any deductible portion of an insured loss concerning the Building or the Common Areas. 

 

	 	(viii)	The cost of any Capital Expenditure to the Building or the Project not covered under the provisions of Paragraph 2.3 provided; however, that Lessor shall allocate the
cost of any such Capital Expenditure over a 12 year period and Lessee shall not be required to pay more than Lessee’s Share of 1/144th of the cost of such Capital Expenditure in any given month. 

 

	 	(ix)	Any other services to be provided by Lessor that are stated elsewhere in this Lease to be a Common Area Operating Expense. 

(b) Any Common Area Operating Expenses and Real Property Taxes that are specifically attributable to the Unit, the Building or to any
other building in the Project or to the operation, repair and maintenance thereof, shall be allocated entirely to such Unit, Building, or other building. However, any Common Area Operating Expenses and Real Property Taxes that are not specifically
attributable to the Building or to any other building or to the operation, repair and maintenance thereof, shall be equitably allocated by Lessor to all buildings in the Project. 

(c) The inclusion of the improvements, facilities and services set forth in Subparagraph 4.2(a) shall not be deemed to impose an
obligation upon Lessor to either have said improvements or facilities or to provide those services unless the Project already has the same, Lessor already provides the services, or Lessor has agreed elsewhere in this Lease to provide the same or
some of them. 
 (d) Lessee’s Share of Common Area Operating Expenses shall be payable by Lessee within 10 days after a
reasonably detailed statement of actual expenses is presented to Lessee. At Lessor’s option, however, an amount may be estimated by Lessor from time to time of Lessee’s Share of annual Common Area Operating Expenses and the same shall be
payable monthly or quarterly, as Lessor shall designate, during each 12 month period of the Lease term, on the same day as the Base Rent is due hereunder. Lessor shall deliver to Lessee within 60 days after the expiration of each calendar year a
reasonably detailed statement showing Lessee’s Share of the actual Common Area Operating Expenses incurred during the preceding year. If Lessee’s payments under this Paragraph 4.2(d) during the preceding year exceed Lessees Share as
indicated on such statement, Lessor shall be credited the amount of such over-payment against Lessee’s Share of Common Area Operating Expenses next becoming due. If Lessee’s payments under this Paragraph 4.2(d) during the preceding year
were less than Lessee’s Share as indicated on such statement, Lessee shall pay to Lessor the amount of the deficiency within 10 days after delivery by Lessor to Lessee of the statement. 

4.3 Payment. Lessee shall cause payment of Rent to be received by Lessor in lawful money of the United States, without offset or
deduction (except as specifically permitted in this Lease), on or before the day on which it is due. Rent for any period during the term hereof which is for less than one full calendar month shall be prorated based upon the actual number of days of
said month. Payment of Rent shall be made to Lessor at its address stated herein or to such other persons or place as Lessor may from time to time designate in writing. Acceptance of a payment which is less than the amount then due shall not be a
waiver of Lessor’s rights to the balance of such Rent, regardless of Lessor’s endorsement of any check so stating. In the event that any check, draft, or other instrument of payment given by Lessee to Lessor is dishonored for any reason,
Lessee agrees to pay to Lessor the sum of $25 in addition to any late charges which may be due. 
 5. Security Deposit. Lessee shall
deposit with Lessor upon execution hereof the Security Deposit as security for Lessee’s faithful performance of its obligations under this Lease. If Lessee fails to pay Rent, or otherwise Defaults under this Lease, Lessor may use,

  

							
	  
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apply or retain all or any portion of said Security Deposit for the payment of any amount due Lessor or to reimburse or compensate Lessor for any liability, expense, loss or damage which Lessor
may suffer or incur by reason thereof. If Lessor uses or applies all or any portion of the Security Deposit, Lessee shall within 10 days after written request therefor deposit monies with Lessor sufficient to restore said Security Deposit to the
full amount required by this Lease. If the Base Rent increases during the term of this Lease, Lessee shall, upon written request from Lessor, deposit additional monies with Lessor so that the total amount of the Security Deposit shall at all
times bear the same proportion to the increased Base Rent as the initial Security Deposit bore to the initial Base Rent. Should the Agreed Use be amended to accommodate a material change in the business of Lessee or to accommodate a sublessee or
assignee, Lessor shall have the right to increase the Security Deposit to the extent necessary, in Lessor’s reasonable judgment, to account for any increased wear and tear that the Premises may suffer as a result thereof. If a change in control
of Lessee occurs during this Lease and following such change the financial condition of Lessee is, in Lessor’s reasonable judgment, significantly reduced, Lessee shall deposit such additional monies with Lessor as shall be sufficient to cause
the Security Deposit to be at a commercially reasonable level based on such change in financial condition. Lessor shall not be required to keep the Security Deposit separate from its general accounts. Within 14 days after the expiration or
termination of this Lease, if Lessor elects to apply the Security Deposit only to unpaid Rent, and otherwise within 30 days after the Premises have been vacated pursuant to Paragraph 7.4(c) below, Lessor shall return that portion of the Security
Deposit not used or applied by Lessor. No part of the Security Deposit shall be considered to be held in trust, to bear interest or to be prepayment for any monies to be paid by Lessee under this Lease. 

6. Use. 
 6.1 Use.
Lessee shall use and occupy the Premises only for the Agreed Use, or any other legal use which is reasonably comparable thereto, and for no other purpose. Lessee shall not use or permit the use of the Premises in a manner that is unlawful,
creates damage, waste or a nuisance, or that disturbs occupants of or causes damage to neighboring premises or properties. Lessor shall not unreasonably withhold or delay its consent to any written request for a modification of the Agreed Use, so
long as the same will not impair the structural integrity of the improvements on the Premises or the mechanical or electrical systems therein, and/or is not significantly more burdensome to the Premises. If Lessor elects to withhold consent, Lessor
shall within 7 days after such request give written notification of same, which notice shall include an explanation of Lessees objections to the change in the Agreed Use. 
 6.2 Hazardous Substances. see Addendum 
 (a) Reportable Uses Require
Consent. The term “Hazardous Substance” as used in this Lease shall mean any product, substance, or waste whose presence, use, manufacture, disposal, transportation, or release, either
by itself or in combination with other materials expected to be on the Premises, is either: (i) potentially injurious to the public health, safety or welfare, the environment or the Premises, (ii) regulated or monitored by any governmental
authority, or (iii) a basis for potential liability of Lessor to any governmental agency or third party under any applicable statute or common law theory. Hazardous Substances shall include, but not be limited to, hydrocarbons, petroleum,
gasoline, and/or crude oil or any products, by-products or fractions thereof. Lessee shall not engage in any activity in or on the Premises which constitutes a Reportable Use of Hazardous Substances without the express prior written consent of
Lessor and timely compliance (at Lessee’s expense) with all Applicable Requirements. “Reportable Use” shall mean (i) the installation or use of any above or below ground storage tank, (ii) the generation, possession,
storage, use, transportation, or disposal of a Hazardous Substance that requires a permit from, or with respect to which a report, notice, registration or business plan is required to be filed with, any governmental authority, and/or (iii) the
presence at the Premises of a Hazardous Substance with respect to which any Applicable Requirements requires that a notice be given to persons entering or occupying the Premises or neighboring properties. Notwithstanding the foregoing, Lessee may
use any ordinary and customary materials reasonably required to be used in the normal course of the Agreed Use, so long as such use is in compliance with all Applicable Requirements, is not a Reportable Use, and does not expose the Premises or
neighboring property to any meaningful risk of contamination or damage or expose Lessor to any liability therefor. In addition, Lessor may condition its consent to any Reportable Use upon receiving such additional assurances as Lessor reasonably
deems necessary to protect itself, the public, the Premises and/or the environment against damage, contamination, injury and/or liability, including, but not limited to, the installation (and removal on or before Lease expiration or termination) of
protective modifications (such as concrete encasements) and/or increasing the Security Deposit. 
 (b) Duty
to Inform Lessor. If Lessee knows, or has reasonable cause to believe, that a Hazardous Substance has come to be located in, on, under or about the Premises, other than as previously consented to by Lessor,
Lessee shall immediately give written notice of such fact to Lessor, and provide Lessor with a copy of any report, notice, claim or other documentation which it has concerning the presence of such Hazardous Substance. 

(c) Lessee Remediation. Lessee shall not cause or permit any Hazardous Substance to be
spilled or released in, on, under, or about the Premises (including through the plumbing or sanitary sewer system) and shall promptly, at Lessee’s expense, take all investigatory and/or remedial action reasonably recommended, whether or not
formally ordered or required, for the cleanup of any contamination of, and for the maintenance, security and/or monitoring of the Premises or neighboring properties, that was caused or materially contributed to by Lessee, or pertaining to or
involving any Hazardous Substance brought onto the Premises during the term of this Lease, by or for Lessee, or any third party. 
 (d) Lessee Indemnification. Lessee shall indemnify, defend and hold Lessor, its agents, employees, lenders and ground lessor, if any, harmless from and
against any and all loss of rents and/or damages, liabilities, judgments, claims, expenses, penalties, and attorneys’ and consultants’ fees arising out of or involving any Hazardous Substance brought onto the Premises by or for Lessee, or
any third party (provided, however, that Lessee shall have no liability under this Lease with respect to underground migration of any Hazardous Substance under the Premises from areas outside of the Project). Lessee’s obligations shall include,
but not be limited to, the effects of any contamination or injury to person, property or the environment created or suffered by Lessee, and the cost of investigation, removal, remediation, restoration and/or abatement, and shall survive the
expiration or termination of this Lease. No termination, cancellation or release agreement entered into by Lessor and Lessee shall release Lessee from its obligations under this Lease with respect to Hazardous Substances, unless specifically so
agreed by Lessor in writing at the time of such agreement. 
 (e) Lessor Indemnification.
Lessor and its successors and assigns shall indemnify, defend, reimburse and hold Lessee, its employees and lenders, harmless from and against any and all environmental damages, including the cost of remediation, which existed
as a result of Hazardous Substances on the Premises prior to the Start Date or which are caused by the gross negligence or willful misconduct of Lessor, its agents or employees. Lessor’s obligations, as and when required by the Applicable
Requirements, shall include, but not be limited to, the cost of investigation, removal, remediation, restoration and/or abatement, and shall survive the expiration or termination of this Lease. 

(f) Investigations and Remediations. Lessor shall retain the responsibility and pay for
any investigations or remediation measures required by governmental entities having jurisdiction with respect to the existence of Hazardous Substances on the Premises prior to the Start Date, unless such remediation measure is required as a result
of Lessee’s use (including “Alterations”, as defined in paragraph 7.3(a) below) of the Premises, in which event Lessee shall be responsible for such payment. Lessee shall cooperate fully in any such activities at the request of
Lessor, including allowing Lessor and Lessor’s agents to have reasonable access to the Premises at reasonable times in order to carry out Lessor’s investigative and remedial responsibilities. 

(g) Lessor Termination Option. If a Hazardous Substance Condition (see Paragraph 9.1(e))
occurs during the term of this Lease, unless Lessee is legally responsible therefor (in which case Lessee shall make the investigation and remediation thereof required by the Applicable Requirements and this Lease shall continue in full force and
effect, but subject to Lessor’s rights under Paragraph 6.2(d) and Paragraph 13), Lessor may, at Lessor’s option, either (i) investigate and remediate such Hazardous Substance Condition, if required, as soon as reasonably possible at
Lessor’s expense, in which event this Lease shall continue in full force and effect, or (ii) if the estimated cost to remediate such condition exceeds 12 times the then monthly Base Rent or $100,000, whichever is greater, give written
notice to Lessee, within 30 days after receipt by Lessor of knowledge of the occurrence of such Hazardous Substance Condition, of Lessor’s desire to terminate this Lease as of the date 60 days following the date of such notice. In the event
Lessor elects to give a termination notice, Lessee may, within 10 days thereafter, give written notice to Lessor of Lessee’s commitment to pay the amount by which the cost of the remediation of such Hazardous Substance Condition exceeds an
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the then monthly Base Rent or $100,000, whichever is greater. Lessee shall provide Lessor with said funds or satisfactory assurance thereof within 30 days following such commitment. In
such event, this Lease shall continue in full force and effect, and Lessor shall proceed to make such remediation as soon as reasonably possible after the required funds are available. If Lessee does not give such notice and provide the required
funds or assurance thereof within the time provided, this Lease shall terminate as of the date specified in Lessor’s notice of termination. 
 6.3 Lessee’s Compliance with Applicable Requirements. Except as otherwise provided in this Lease, Lessee shall, at Lessee’s sole expense, fully, diligently and in a timely manner,
materially comply with all Applicable Requirements, the requirements of any applicable fire insurance underwriter or rating bureau, and the recommendations of Lessor’s engineers and/or consultants which relate in any manner to the Premises,
without regard to whether said requirements are now in effect or become effective after the Start Date. Lessee shall, within 10 days after receipt of Lessor’s written request, provide Lessor with copies of all permits and other documents, and
other information evidencing Lessee’s compliance with any Applicable Requirements specified by Lessor, and shall immediately upon receipt, notify Lessor in writing (with copies of any documents involved) of any threatened or actual claim,
notice, citation, warning, complaint or report pertaining to or involving the failure of Lessee or the Premises to comply with any Applicable Requirements. 
 6.4 Inspection; Compliance. Lessor and Lessor’s “Lender” (as defined in Paragraph 30) and consultants shall have the right to enter into Premises at any time, in the case of
an emergency, and otherwise at reasonable times, for the purpose of inspecting the condition of the Premises and for verifying compliance by Lessee with this Lease. The cost of any such inspections shall be paid by Lessor, unless a violation of
Applicable Requirements, or a contamination is found to exist or be imminent, or the inspection is requested or ordered by a governmental authority. In such case, Lessee shall upon request reimburse Lessor for the cost of such inspection, so long as
such inspection is reasonably related to the violation or contamination. 
 7. Maintenance; Repairs, Utility Installations; Trade Fixtures
and Alterations. 
 7.1 Lessee’s Obligations. 

(a) In General. Subject to the provisions of Paragraph 2.2 (Condition), 2.3 (Compliance), 6.3 (Lessee’s Compliance with
Applicable Requirements), 7.2 (Lessor’s Obligations), 9 (Damage or Destruction), and 14 (Condemnation), Lessee shall, at Lessee’s sole expense, keep the Premises, Utility Installations (intended for Lessee’s exclusive use, no matter
where located), and Alterations in good order, condition and repair (whether or not the portion of the Premises requiring repairs, or the means of repairing the same, are reasonably or readily accessible to Lessee, and whether or not the need for
such repairs occurs as a result of Lessee’s use, any prior use, the elements or the age of such portion of the Premises), including, but not limited to, all equipment or facilities, such as plumbing, HVAC equipment, electrical, lighting
facilities, boilers, pressure vessels, fixtures, interior walls, interior surfaces of exterior walls, ceilings, floors, windows, doors, plate glass, and skylights but excluding any items which are the responsibility of Lessor pursuant to Paragraph
7.2. Lessee, in keeping the Premises in good order, condition and repair, shall exercise and perform good maintenance practices, specifically including the procurement and maintenance of the service contracts required by Paragraph 7.1(b) below.
Lessee’s obligations shall include restorations, replacements or renewals when necessary to keep the Premises and all improvements thereon or a part thereof in good order, condition and state of repair. 

(b) Service Contracts. Lessee shall, at Lessee’s sole expense, procure and maintain contracts, with copies to Lessor, in
customary form and substance for, and with contractors specializing and experienced in the maintenance of the following equipment and improvements, if any, if and when installed on the Premises: (i) HVAC equipment, (ii) boiler and pressure
vessels, (iii) clarifiers, and (iv) any other equipment, if reasonably required by Lessor. However, Lessor reserves the right, upon notice to Lessee, to procure and maintain any or all of such service contracts, and if Lessor so elects,
Lessee shall reimburse Lessor, upon demand, for the cost thereof. 
 (c) Failure to Perform. If Lessee fails to perform
Lessee’s obligations under this Paragraph 7.1, Lessor may enter upon the Premises after 10 days’ prior written notice to Lessee (except in the case of an emergency, in which case no notice shall be required), perform such obligations on
Lessee’s behalf, and put the Premises in good order, condition and repair, and Lessee shall promptly reimburse Lessor for the cost thereof. 
 (d) Replacement. Subject to Lessee’s indemnification of Lessor as set forth in Paragraph 8.7 below, and without relieving Lessee of liability resulting from Lessee’s failure to exercise
and perform good maintenance practices, if an item described in Paragraph 7.1(b) cannot be repaired other than at a cost which is in excess of 50% of the cost of replacing such item, then such item shall be replaced by Lessor, and the cost thereof
shall be prorated between the Parties and Lessee shall only be obligated to pay, each month during the remainder of the term of this Lease, on the date on which Base Rent is due, an amount equal to the product of multiplying the cost of such
replacement by a fraction, the numerator of which is one, and the denominator of which is 144 (ie. 1/144th of the cost per month). Lessee shall pay interest on the unamortized balance at a rate that is commercially reasonable in the judgment of
Lessor’s accountants. Lessee may, however, prepay its obligation at any time. 
 7.2 Lessor’s Obligations.
Subject to the provisions of Paragraphs 2.2 (Condition), 2.3 (Compliance), 4.2 (Common Area Operating Expenses), 6 (Use), 7.1 (Lessee’s Obligations), 9 (Damage or Destruction) and 14 (Condemnation), Lessor, subject to reimbursement pursuant
to Paragraph 4.2, shall keep in good order, condition and repair the foundations, exterior walls, structural condition of interior bearing walls, exterior roof, fire sprinkler system, Common Area fire alarm and/or smoke detection systems, fire
hydrants, parking lots, walkways, parkways, driveways, landscaping, fences, signs and utility systems serving the Common Areas and all parts thereof, as well as providing the services for which there is a Common Area Operating Expense pursuant to
Paragraph 4.2. Lessor shall not be obligated to paint the exterior or interior surfaces of exterior walls nor shall Lessor be obligated to maintain, repair or replace windows, doors or plate glass of the Premises. Lessee expressly waives the benefit
of any statute now or hereafter in effect to the extent it is inconsistent with the terms of this Lease. 
 7.3 Utility
Installations; Trade Fixtures; Alterations. 
 (a) Definitions. The term “Utility Installations”
refers to all floor and window coverings, air lines, power panels, electrical distribution, security and fire protection systems, communication systems, lighting fixtures, HVAC equipment, plumbing, and fencing in or on the Premises. The term
“Trade Fixtures” shall mean Lessee’s machinery and equipment that can be removed without doing material damage to the Premises. The term “Alterations” shall mean any modification of the improvements, other than
Utility Installations or Trade Fixtures, whether by addition or deletion. “Lessee Owned Alterations and/or Utility Installations” are defined as Alterations and/or Utility Installations made by Lessee that are not yet owned by
Lessor pursuant to Paragraph 7.4(a). 
 (b) Consent. Lessee shall not make any Alterations or Utility installations to
the Premises without Lessor’s prior written consent. Lessee may, however, make non-structural Utility Installations to the interior of the Premises (excluding the roof) without such consent but upon notice to Lessor, as long as they are not
visible from the outside, do not involve puncturing, relocating or removing the roof or any existing walls, and the cumulative cost thereof during this Lease as extended does not exceed a sum equal to 3 month’s Base Rent in the aggregate or a
sum equal to one month’s Base Rent in any one year. Notwithstanding the foregoing, Lessee shall not make or permit any roof penetrations and/or install anything on the roof without the prior written approval of Lessor. Lessor may, as a
precondition to granting such approval, require Lessee to utilize a contractor chosen and/or approved by Lessor. Any Alterations or Utility Installations that Lessee shall desire to make and which require the consent of the Lessor shall be presented
to Lessor in written form with detailed plans. Consent shall be deemed conditioned upon Lessee’s: (i) acquiring all applicable governmental permits, (ii) furnishing Lessor with copies of both the permits and the plans and
specifications prior to commencement of the work, and (iii) compliance with all conditions of said permits and other Applicable Requirements in a prompt and expeditious manner. Any Alterations or Utility Installations shall be performed in a
workmanlike manner with good and sufficient materials. Lessee shall promptly upon completion furnish Lessor with as-built plans and specifications. For work which costs an amount in excess of one month’s Base Rent, Lessor may condition
its consent upon Lessee providing a lien and completion bond in an amount equal to 150% of the estimated cost of such Alteration or Utility Installation and/or upon Lessee’s posting an additional Security Deposit with Lessor.

 (c) Indemnification. Lessee shall pay, when due, all claims for labor or materials furnished or alleged to have been
furnished to or for Lessee at or for use on the Premises, which claims are or may be secured by any mechanic’s or materialman’s lien against the Premises or any interest therein. Lessee shall give Lessor not less than 10 days notice prior
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work in, on or about the Premises, and Lessor shall have the right to post notices of non-responsibility. If Lessee shall contest the validity of any such lien, claim or demand, then Lessee
shall, at its sole expense defend and protect itself, Lessor and the Premises against the same and shall pay and satisfy any such adverse judgment that may be rendered thereon before the enforcement thereof. If Lessor shall require, Lessee shall
furnish a surety bond in an amount equal to 150% of the amount of such contested lien, claim or demand, indemnifying Lessor against liability for the same. If Lessor elects to participate in any such action, Lessee shall pay Lessor’s
attorneys’ fees and costs. 
 7.4 Ownership; Removal; Surrender; and Restoration. see Addendum 

(a) Ownership. Subject to Lessor’s right to require removal or elect ownership as hereinafter provided, all Alterations and
Utility Installations made by Lessee shall be the property of Lessee, but considered a part of the Premises. Lessor may, at any time, elect in writing to be the owner of all or any specified part of the Lessee Owned Alterations and Utility
Installations. Unless otherwise instructed per paragraph 7.4(b) hereof, all Lessee Owned Alterations and Utility installations shall, at the expiration or termination of this Lease, become the property of Lessor and be surrendered by Lessee with the
Premises. 
 (b) Removal. By delivery to Lessee of written notice from Lessor not earlier than 90 and not later than 30
days prior to the end of the term of this Lease, Lessor may require that any or all Lessee Owned Alterations or Utility Installations be removed by the expiration or termination of this Lease. Lessor may require the removal at any time of all or any
part of any Lessee Owned Alterations or Utility Installations made without the required consent. 
 (c) Surrender;
Restoration. Lessee shall surrender the Premises by the Expiration Date or any earlier termination date, with all of the improvements, parts and surfaces thereof broom clean and free of debris, and in good operating order, condition and state of
repair, ordinary wear and tear excepted. “Ordinary wear and tear” shall not include any damage or deterioration that would have been prevented by good maintenance practice. Notwithstanding the foregoing, if this Lease is for 12
months or less, then Lessee shall surrender the Premises in the same condition as delivered to Lessee on the Start Date with NO allowance for ordinary wear and tear. Lessee shall repair any damage occasioned by the installation, maintenance or
removal of Trade Fixtures, Lessee owned Alterations and/or Utility Installations, furnishings, and equipment as well as the removal of any storage tank installed by or for Lessee. Lessee shall also completely remove from the Premises any
and all Hazardous Substances brought onto the Premises by or for Lessee, or any third party (except Hazardous Substances which were deposited via underground migration from areas outside of the Project) even if such removal would require Lessee to
perform or pay for work that exceeds statutory requirements. Trade Fixtures shall remain the property of Lessee and shall be removed by Lessee. The failure by Lessee to timely vacate the Premises pursuant to this Paragraph 7.4(c) without the express
written consent of Lessor shall constitute a holdover under the provisions of Paragraph 26 below. 
 8. Insurance; indemnity. 

8.1 Payment of Premiums. The cost of the premiums for the insurance policies required to be carried by Lessor, pursuant to
Paragraphs 8.2(b), 8.3(a) and 8.3(b), shall be a Common Area Operating Expense. Premiums for policy periods commencing prior to, or extending beyond, the term of this Lease shall be prorated to coincide with the corresponding Start Date or
Expiration Date. 
 8.2 Liability Insurance. 
 (a) Carried by Lessee. Lessee shall obtain and keep in force a Commercial General Liability policy of insurance protecting Lessee and Lessor as an additional insured against claims for bodily
injury, personal injury and property damage based upon or arising out of the ownership, use, occupancy or maintenance of the Premises and all areas appurtenant thereto. Such insurance shall be on an occurrence basis providing single limit coverage
in an amount not less than $1,000,000 per occurrence with an annual aggregate of not less than $2,000,000, an “Additional Insured-Managers or Lessors of Premises Endorsement” and contain the “Amendment of the Pollution Exclusion
Endorsement” for damage caused by heat, smoke or fumes from a hostile fire. The policy shall not contain any intra-insured exclusions as between insured persons or organizations, but shall include coverage for liability assumed under this Lease
as an “insured contract” for the performance of Lessee’s indemnity obligations under this Lease. The limits of said insurance shall not, however, limit the liability of Lessee nor relieve Lessee of any obligation hereunder. All
insurance carried by Lessee shall be primary to and not contributory with any similar insurance carried by Lessor, whose insurance shall be considered excess insurance only. 
 (b) Carried by Lessor. Lessor shall maintain liability insurance as described in Paragraph 8.2(a), in addition to, and not in lieu of, the insurance required to be maintained by Lessee. Lessee
shall not be named as an additional insured therein. 
 8.3 Property Insurance – Building, Improvements and Rental
Value.  
                 (a) Building and Improvements.
Lessor shall obtain and keep in force a policy or policies of insurance in the name of Lessor, with loss payable to Lessor, any ground-lessor, and to any Lender insuring loss or damage to the Premises. The amount of such insurance shall be equal
to the full replacement cost of the Premises, as the same shall exist from time to time, or the amount required by any Lender, but in no event more than the commercially reasonable and available insurable value thereof. Lessee Owned Alterations and
Utility Installations, Trade Fixtures, and Lessee’s personal property shall be insured by Lessee under Paragraph 8.4. If the coverage is available and commercially appropriate, such policy or policies shall insure against all risks of direct
physical loss or damage (except the perils of flood and/or earthquake unless required by a Lender), including coverage for debris removal and the enforcement of any Applicable Requirements requiring the upgrading, demolition,
reconstruction or replacement of any portion of the Premises as the result of a covered loss, Said policy or policies shall also contain an agreed valuation provision in lieu of any coinsurance clause, waiver of subrogation, and inflation guard
protection causing an increase in the annual property insurance coverage amount by a factor of not less than the adjusted U.S. Department of Labor Consumer Price Index for All Urban Consumers for the city nearest to where the Premises are located.
If such insurance coverage has a deductible clause, the deductible amount shall not exceed $1,000 per occurrence. 
 (b)
Rental Value. Lessor shall also obtain and keep in force a policy or policies in the name of Lessor with loss payable to Lessor and any Lender, insuring the loss of the full Rent for one year with an extended period of indemnity for an
additional 180 days (“Rental Value Insurance”). Said insurance shall contain an agreed Valuation provision in lieu of any coinsurance clause, and the amount of coverage shall be adjusted annually to reflect the projected Rent
otherwise payable by Lessee, for the next 12 month period. 
 (c) Adjacent Premises. Lessee shall pay for any increase in
the premiums for the property insurance of the Building and for the Common Areas or other buildings in the Project if said increase is caused by Lessee’s acts, omissions, use or occupancy of the Premises. 

(d) Lessee’s Improvements. Since Lessor is the Insuring Party, Lessor shall not be required to insure Lessee Owned
Alterations and Utility installations unless the item in question has become the property of Lessor under the terms of this Lease. 
 8.4 Lessee’s Property; Business interruption Insurance.  
 (a)
Property Damage. Lessee shall obtain and maintain insurance coverage on all of Lessee’s personal property, Trade Fixtures, and Lessee Owned Alterations and Utility Installations. Such insurance shall be full replacement cost coverage with a
deductible of not to exceed $1,000 per occurrence. The proceeds from any such insurance shall be used by Lessee for the replacement of personal property, Trade Fixtures and Lessee Owned Alterations and Utility Installations. Lessee shall provide
Lessor with written evidence that such insurance is in force. 
 (b) Business Interruption. Lessee shall obtain and
maintain loss of income and extra expense insurance in amounts as will reimburse Lessee for direct or indirect loss of earnings attributable to all perils commonly insured against by prudent lessees in the business of Lessee or attributable to
prevention of access to the Premises as a result of such perils. 
 (c) No Representation of Adequate Coverage. Lessor
makes no representation that the limits or forms of coverage of insurance specified herein are adequate to cover Lessee’s property, business operations or obligations under this Lease. 

8.5 Insurance Policies. Insurance required herein shall be by companies duly licensed or admitted to transact business in the
state where the Premises are located, and maintaining during the policy term a “General Policyholders Rating” of at least B+, V, as set forth in the most current issue of “Best’s Insurance Guide”, or such other rating as may
be required by a Lender. Lessee shall not do or permit to be done anything which invalidates the required insurance policies. Lessee shall, prior to the Start Date, deliver to Lessor certified copies of policies of such insurance or certificates
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policy shall be cancelable or subject to modification except after 30 days prior written notice to Lessor. Lessee shall, at least 30 days prior to the expiration of such policies, furnish Lessor
with evidence of renewals or “insurance binders” evidencing renewal thereof, or Lessor may order such insurance and charge the cost thereof to Lessee, which amount shall be payable by Lessee to Lessor upon demand. Such policies shall be
for a term of at least one year, or the length of the remaining term of this Lease, whichever is less. If either Party shall fail to procure and maintain the insurance required to be carried by it, the other Party may, but shall not be required to,
procure and maintain the same. 
 8.6 Waiver of Subrogation. Without affecting any other rights or remedies, Lessee and
Lessor each hereby release and relieve the other, and waive their entire right to recover damages against the other, for loss of or damage to its property arising out of or incident to the perils required to be insured against herein. The effect of
such releases and waivers is not limited by the amount of insurance carried or required, or by any deductibles applicable hereto. The Parties agree to have their respective property damage insurance carriers waive any right to subrogation that such
companies may have against Lessor or Lessee, as the case may be, so long as the insurance is not invalidated thereby. 
 8.7
Indemnity. Except for Lessors gross negligence or willful misconduct, Lessee shall indemnify, protect, defend and hold harmless the Premises, Lessor and its agents, Lessor’s master or ground lessor, partners and Lenders, from and against
any and all claims, loss of rents and/or damages, liens, judgments, penalties, attorneys’ and consultants’ fees, expenses and/or liabilities arising out of, involving, or in connection with, the use and/or occupancy of the Premises by
Lessee. If any action or proceeding is brought against Lessor by reason of any of the foregoing matters, Lessee shall upon notice defend the same at Lessee’s expense by counsel reasonably satisfactory to Lessor and Lessor shall cooperate with
Lessee in such defense. Lessor need not have first paid any such claim in order to be defended or indemnified. 
 8.8
Exemption of Lessor from Liability. Lessor shall not be liable for injury or damage to the person or goods, wares, merchandise or other property of Lessee, Lessee’s employees, contractors, invitees, customers, or any other person in or
about the Premises, whether such damage or injury is caused by or results from fire, steam, electricity, gas, water or rain, or from the breakage, leakage, obstruction or other detects of pipes, fire sprinklers, wires, appliances, plumbing, HVAC or
lighting fixtures, or from any other cause, whether the said injury or damage results from conditions arising upon the Premises or upon other portions of the Building, or from other sources or places. Lessor shall not be liable for any damages
arising from any act or neglect of any other tenant of Lessor nor from the failure of Lessor to enforce the provisions of any other lease in the Project. Notwithstanding Lessor’s negligence or breach of this Lease, Lessor shall under no
circumstances be liable for injury to Lessee’s business or for any loss of income or profit therefrom. 
 9. Damage or Destruction.

 9.1 Definitions. 
 (a) “Premises Partial Damage” shall mean damage or destruction to the improvements on the Premises, other than Lessee Owned Alterations and Utility Installations, which can reasonably be
repaired in 3 months or less from the date of the damage or destruction, and the cost thereof does not exceed a sum equal to 6 month’s Base Rent. Lessor shall notify Lessee in writing within 30 days from the date of the damage or destruction as
to whether or not the damage is Partial or Total. 
 (b) “Premises Total Destruction” shall mean damage or
destruction to the improvements on the Premises, other than Lessee Owned Alterations and Utility Installations and Trade Fixtures, which cannot reasonably be repaired in 3 months or less from the date of the damage or destruction and/or the cost
thereof exceeds a sum equal to 6 month’s Base Rent. Lessor shall notify Lessee in writing within 30 days from the date of the damage or destruction as to whether or not the damage is Partial or Total. 

(c) “Insured Loss” shall mean damage or destruction to improvements on the Premises, other than Lessee Owned Alterations
and Utility Installations and Trade Fixtures, which was caused by an event required to be covered by the insurance described in Paragraph 8.3(a), irrespective of any deductible amounts or coverage limits involved. 

(d) “Replacement Cost” shall mean the cost to repair or rebuild the improvements owned by Lessor at the time of the
occurrence to their condition existing immediately prior thereto, including demolition, debris removal and upgrading required by the operation of Applicable Requirements, and without deduction for depreciation. 

(e) “Hazardous Substance Condition” shall mean the occurrence or discovery of a condition involving the presence
of, or a contamination by, a Hazardous Substance as defined in Paragraph 6.2(a), in, on, or under the Premises. 

        9.2 Partial Damage - Insured Loss. If a Premises Partial Damage that is an Insured Loss occurs,
then Lessor shall, at Lessor’s expense, repair such damage (but not Lessee’s Trade Fixtures or Lessee Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect;
provided, however, that Lessee shall, at Lessor’s election, make the repair of any damage or destruction the total cost to repair of which is $5,000 or less, and, in such event, Lessor shall make any applicable insurance proceeds available to
Lessee on a reasonable basis for that purpose. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in
proceeds as and when required to complete said repairs. In the event, however, such shortage was due to the fact that, by reason of the unique nature of the improvements, full replacement cost insurance coverage was not commercially reasonable and
available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, within 10 days
following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said 10 day period, the party responsible for making the repairs shall complete them as soon as reasonably
possible and this Lease shall remain in full force and effect. If such funds or assurance are not received, Lessor may nevertheless elect by written notice to Lessee within 10 days thereafter to: (i) make such restoration and repair as is
commercially reasonable with Lessor paying any shortage in proceeds, in which case this Lease shall remain in full force and effect, or (ii) have this Lease terminate 30 days thereafter. Lessee shall not be entitled to reimbursement of any
funds contributed by Lessee to repair any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3, notwithstanding that there may be some insurance coverage, but the net proceeds of any such
insurance shall be made available for the repairs if made by either Party. 
 9.3 Partial Damage - Uninsured Loss. If a
Premises Partial Damage that is not an Insured Loss occurs, unless caused by a negligent or willful act of Lessee (in which event Lessee shall make the repairs at Lessee’s expense), Lessor may either: (i) repair such damage as soon as
reasonably possible at Lessor’s expense, in which event this Lease shall continue in full force and effect, or (ii) terminate this Lease by giving written notice to Lessee within 30 days after receipt by Lessor of knowledge of the
occurrence of such damage. Such termination shall be effective 60 days following the date of such notice. In the event Lessor elects to terminate this Lease, Lessee shall have the right within 10 days after receipt of the termination notice to give
written notice to Lessor of Lessee’s commitment to pay for the repair of such damage without reimbursement from Lessor. Lessee shall provide Lessor with said funds or satisfactory assurance thereof within 30 days after making such commitment.
In such event this Lease shall continue in lull force and effect, and Lessor shall proceed to make such repairs as soon as reasonably possible after the required funds are available. If Lessee does not make the required commitment, this Lease shall
terminate as of the date specified in the termination notice. 
 9.4 Total Destruction. Notwithstanding any other
provision hereof, if a Premises Total Destruction occurs, this Lease shall terminate 60 days following such Destruction. If the damage or destruction was caused by the gross negligence or willful misconduct of Lessee, Lessor shall have the right to
recover Lessor’s damages from Lessee, except as provided in Paragraph 8.6. 
 9.5 Damage Near End of Term. If at any
time during the last 6 months of this Lease there is damage for which the cost to repair exceeds one month’s Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 days following the date of occurrence of such
damage by giving a written termination notice to Lessee within 30 days after the date of occurrence of such damage. Notwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises,
then Lessee may preserve this Lease by, (a) exercising such option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date
which is 10 days after Lessee’s receipt of Lessor’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires, if Lessee duly exercises such option during such period and
provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor’s commercially reasonable expense, repair such damage as soon as

  

							
	  
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reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall
terminate on the date specified in the termination notice and Lessee’s option shall be extinguished. 
 9.6 Abatement of
Rent; Lessee’s Remedies. 
 (a) Abatement. In the event of Premises Partial Damage or Premises Total Destruction
or a Hazardous Substance Condition for which Lessee is not responsible under this Lease, the Rent payable by Lessee for the period required for the repair, remediation or restoration of such damage shall be abated in proportion to the degree to
which Lessee’s use of the Premises is impaired, but not to exceed the proceeds received from the Rental Value insurance. All other obligations of Lessee hereunder shall be performed by Lessee, and Lessor shall have no liability for any such
damage, destruction, remediation, repair or restoration except as provided herein. 
 (b) Remedies. If Lessor shall be
obligated to repair or restore the Premises and does not commence, in a substantial and meaningful way, such repair or restoration within 90 days after such obligation shall accrue, Lessee may, at any time prior to the commencement of such repair or
restoration, give written notice to Lessor and to any Lenders of which Lessee has actual notice, of Lessee’s election to terminate this Lease on a date not less than 60 days following the giving of such notice. If Lessee gives such notice and
such repair or restoration is not commenced within 30 days thereafter, this Lease shall terminate as of the date specified in said notice. If the repair or restoration is commenced within such 30 days, this Lease shall continue in full force and
effect. “Commence” shall mean either the unconditional authorization of the preparation of the required plans, or the beginning of the actual work on the Premises, whichever first occurs. 

9.7 Termination; Advance Payments. Upon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable
adjustment shall be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return to Lessee so much of Lessee’s Security Deposit as has not been, or is not then required to be, used
by Lessor. 
 9.8 Waive Statutes. Lessor and Lessee agree that the terms of this Lease shall govern the effect of any
damage to or destruction of the Premises with respect to the termination of this Lease and hereby waive the provisions of any present or future statute to the extant inconsistent herewith. 

 

	10.	Real Property Taxes. 

10.1 Definition. As used herein, the term “Real Property Taxes” shall include any form of assessment; real
estate, general, special, ordinary or extraordinary, or rental levy or tax (other than inheritance, personal income or estate taxes); improvement bond; and/or license fee imposed upon or levied against any legal or equitable interest of Lessor in
the Project, Lessor’s right to other income therefrom, and/or Lessor’s business of leasing, by any authority having the direct or indirect power to tax and where the funds are generated with reference to the Project address and where the
proceeds so generated are to be applied by the city, county or other local taxing authority of a jurisdiction within which the Project is located. The term “Real Property Taxes” shall also include any tax, fee, levy, assessment or charge,
or any increase therein, imposed by reason of events occurring during the term of this Lease, including but not limited to, a change in the ownership of the Project or any portion thereof or a change in the improvements thereon. In calculating Real
Property Taxes for any calendar year, the Real Property Taxes for any real estate tax year shall be included in the calculation of Real Property Taxes for such calendar year based upon the number of days which such calendar year and tax year have in
common. 
 10.2 Payment of Taxes. Lessor shall pay the Real Property Taxes applicable to the Project, and except as
otherwise provided in Paragraph 10.3, any such amounts shall be included in the calculation of Common Area Operating Expenses in accordance with the provisions of Paragraph 4.2. 

10.3 Additional Improvements. Common Area Operating Expenses shall not include Real Property Taxes specified in the tax
assessor’s records and work sheets as being caused by additional improvements placed upon the Project by other lessees or by Lessor for the exclusive enjoyment of such other lessees. Notwithstanding Paragraph 10.2 hereof, Lessee shall, however,
pay to Lessor at the time Common Area Operating Expenses are payable under Paragraph 4.2, the entirety of any increase in Real Property Taxes if assessed solely by reason of Alterations, Trade Fixtures or Utility Installations placed upon the
Premises by Lessee or at Lessee’s request. 
 10.4 Joint Assessment. If the Building is not separately assessed,
Real Property Taxes allocated to the Building shall be an equitable proportion of the Real Property Taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Lessor from the respective
valuations assigned in the assessor’s work sheets or such other information as may be reasonably available. Lessor’s reasonable determination thereof, in good faith, shall be conclusive. 

        10.5 Personal Property Taxes. Lessee shall pay prior to delinquency all taxes assessed against and
levied upon Lessee Owned Alterations and Utility Installations, Trade Fixtures, furnishings, equipment and all personal property of Lessee contained in the Premises. When possible, Lessee shall cause its Lessee Owned Alterations and Utility
Installations, Trade Fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Lessor. If any of Lessee’s said property shall be assessed with Lessor’s real property,
Lessee shall pay Lessor the taxes attributable so Lessee’s property within 10 days after receipt of a written statement setting forth the taxes applicable to Lessee’s property. 
 11. Utilities. Lessee shall pay for all water, gas, heat, light, power, telephone, trash disposal and other utilities and services supplied to the Premises, together with any taxes thereon.
Notwithstanding the provisions of Paragraph 4.2, if at any time in Lessor’s sole judgment, Lessor determines that Lessee is using a disproportionate amount of water, electricity or other commonly metered utilities, or that Lessee is generating
such a large volume of trash as to require an increase in the size of the dumpster and/or an increase in the number of times per month that the dumpster is emptied, then Lessor may increase Lessee’s Base Rent by an amount equal to such
increased costs. see Addendum 
 12. Assignment and Subletting. 
 12.1 Lessor’s Consent Required. see Addendum 
 (a) Lessee shall not
voluntarily or by operation of law assign, transfer, mortgage or encumber (collectively, “assign or assignment”) or sublet all or any part of Lessee’s interest in this Lease or in the Premises without Lessor’s prior
written consent. 
 (b) A change in the control of Lessee shall constitute an assignment requiring consent. The transfer, on a
cumulative basis, of 25% or more of the voting control of Lessee shall constitute a change in control for this purpose. 
 (c)
The involvement of Lessee or its assets in any transaction, or series of transactions (by way of merger, sale, acquisition, financing, transfer, leveraged buy-out or otherwise), whether or not a formal assignment or hypothecation of this Lease or
Lessee’s assets occurs, which results or will result in a reduction of the Net Worth of Lessee by an amount greater than 25% of such Net Worth as it was represented at the time of the execution of this Lease or at the time of the most recent
assignment to which Lessor has consented, or as it exists immediately prior to said transaction or transactions constituting such reduction, whichever was or is greater, shall be considered an assignment of this Lease to which Lessor may withhold
its consent. “Net Worth of Lessee” shall mean the net worth of Lessee (excluding any guarantors) established under generally accepted accounting principles. 
 (d) An assignment or subletting without consent shall, at Lessor’s option, be a Default curable after notice per Paragraph 13.1(c), or a noncurable Breach without the necessity of any notice and
grace period. If Lessor elects to treat such unapproved assignment or subletting as a noncurable Breach, Lessor may either: (i) terminate this Lease, or (ii) upon 30 days written notice, increase the monthly Base Rent to 110% of
the Base Rent then in effect. Further, in the event of such Breach and rental adjustment, (i) the purchase price of any option to purchase the Premises held by Lessee shall be subject to similar adjustments to 110% of the price previously in
effect, and (ii) all fixed and non-fixed rental adjustments scheduled during the remainder of the Lease term shall be increased to 110% of the scheduled adjusted rent. 

(e) Lessee’s remedy for any breach of Paragraph 12.1 by Lessor shall be limited to compensatory damages and/or injunctive relief.

 12.2 Terms and Conditions Applicable to Assignment end Subletting. 

(a) Regardless of Lessor’s consent, no assignment or subletting shall: (i) be effective without the express written assumption
by such assignee or sublessee of the obligations of Lessee under this Lease, (ii) release Lessee of any obligations 

  

							
	  
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hereunder, or (iii) alter the primary liability of Lessee for the payment of Rent or for the performance of any other obligations to be performed by Lessee. 

(b) Lessor may accept Rent or performance of Lessee’s obligations from any person other than Lessee pending approval or disapproval
of an assignment. Neither a delay in the approval or disapproval of such assignment nor the acceptance of Rent or performance shall constitute a waiver or estoppel of Lessor’s right to exercise its remedies for Lessee’s Default or Breach.

 (c) Lessor’s consent to any assignment or subletting shall not constitute a consent to any subsequent assignment or
subletting. 
 (d) In the event of any Default or Breach by Lessee. Lessor may proceed directly against Lessee, any Guarantors
or anyone else responsible for the performance of Lessee’s obligations under this Lease, including any assignee or sublessee, without first exhausting Lessor’s remedies against any other person or entity responsible therefore to Lessor, or
any security held by Lessor. 
 (e) Each request for consent to an assignment or subletting shall be in writing, accompanied by
information relevant to Lessor’s determination as to the financial and operational responsibility and appropriateness of the proposed assignee or sublessee, including but not limited to the intended use and/or required modification of the
Premises, if any, together with a fee of $1,000 or 10% of the current monthly Base Rent applicable to the portion of the Premises which is the subject of the proposed assignment or sublease, whichever is greater, as consideration for Lessor’s
considering and processing said request. Lessee agrees to provide Lessor with such other or additional information and/or documentation as may be reasonably requested. 
 (f) Any assignee of, or sublessee under, this Lease shall, by reason of accepting such assignment or entering into such sublease, be deemed to have assumed and agreed so conform and comply with each and
every term, covenant, condition and obligation herein to be observed or performed by Lessee during the term of said assignment or sublease, other than such obligations as are contrary to or inconsistent with provisions of an assignment or sublease
to which Lessor has specifically consented to in writing. 
 (g) Lessor’s consent to any assignment or subletting shall not
transfer to the assignee or sublessee any Option granted to the original Lessee by this Lease unless such transfer is specifically consented to by Lessor in writing. (See Paragraph 39.2) 

12.3 Additional Terms and Conditions Applicable to Subletting. The following terms and conditions shall apply to any subletting by
Lessee of all or any part of the Premises and shall be deemed included in all subleases under this Lease whether or not expressly incorporated therein: 
 (a) Lessee hereby assigns and transfers to Lessor all of Lessee’s interest in all Rent payable on any sublease, and Lessor may collect such Rent and apply same toward Lessee’s obligations under
this Lease; provided, however, that until a Breach shall occur in the performance of Lessee’s obligations, Lessee may collect said Rent. Lessor shall not, by reason of the foregoing or any assignment of such sublease, nor by reason of the
collection of Rent, be deemed liable to the sublessee for any failure of Lessee to perform and comply with any of Lessee’s obligations to such sublessee. Lessee hereby irrevocably authorizes and directs any such sublessee, upon receipt of a
written notice from Lessor stating that a Breach exists in the performance of Lessee’s obligations under this Lease, to pay to Lessor all Rent due and to become due under the sublease. Sublessee shall rely upon any such notice from Lessor and
shall pay all Rents to Lessor without any obligation or right to inquire as to whether such Breach exists, notwithstanding any claim from Lessee to the contrary. 
 (b) In the event of a Breach by Lessee, Lessor may, at its option, require sublessee to attorn to Lessor, in which event Lessor shall undertake the obligations of the sublessor under such sublease from
the time of the exercise of said option to the expiration of such sublease; provided, however, Lessor shall not be liable for any prepaid rents or security deposit paid by such sublessee to such sublessor or for any prior Defaults or Breaches of
such sublessor. 
 (c) Any matter requiring the consent of the sublessor under a sublease shall also require the consent of
Lessor. 
 (d) No sublessee shall further assign or sublet all or any part of the Premises without Lessor’s prior written
consent. 
 (e) Lessor shall deliver a copy of any notice of Default or Breach by Lessee to the sublessee, who shall have the
right to cure the Default of Lessee within the grace period, if any, specified in such notice. The sublessee shall have a right of reimbursement and offset from and against Lessee for any such Defaults cured by the sublessee. 

13. Default; Breach; Remedies. 
 13.1 Default; Breach. A “Default” is defined as a failure by the Lessee to comply with or perform any of the terms, covenants, conditions or Rules and Regulations under this Lease.
A “Breach” is defined as the occurrence of one or more of the following Defaults, and the failure of Lessee to cure such Default within any applicable grace period: 
                 (a) The abandonment of the Premises; or the vacating of the Premises without providing a commercially
reasonable level of security, or where the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. 

(b) The failure of Lessee to make any payment of Rent or any Security Deposit required to be made by Lessee hereunder, whether to Lessor
or to a third party, when due, to provide reasonable evidence of insurance or surety bond, or to fulfill any obligation under this Lease which endangers or threatens life or property, where such failure continues for a period of 3 business days
following written notice to Lessee. see Addendum 
 (c) The failure by Lessee to provide (i) reasonable written evidence of
compliance with Applicable Requirements, (ii) the service contracts, (iii) the rescission of an unauthorized assignment or subletting, (iv) an Estoppel Certificate, (v) a requested subordination, (vi) evidence concerning any
guaranty and/or Guarantor, (vii) any document requested under Paragraph 41 (easements), or (viii) any other documentation or information which Lessor may reasonably require of Lessee under the terms of this Lease, where any such failure
continues for a period of 10 days following written notice to Lessee. 
 (d) A Default by Lessee as to the terms, covenants,
conditions or provisions of this Lease, or of the rules adopted under Paragraph 2.9 hereof, other than those described in subparagraphs 13.1(a), (b) or (c), above, where such Default continues for a period of 30 days after written notice;
provided, however, that if the nature of Lessee’s Default is such that more than 30 days are reasonably required for its cure, then it shall not be deemed to be a Breach if Lessee commences such cure within said 30 day period and thereafter
diligently prosecutes such cure to completion. 
 (e) The occurrence of any of the following events: (i) the making of any
general arrangement or assignment for the benefit of creditors; (ii) becoming a “debtor” as defined in 11 U.S.C. § 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is
dismissed within 60 days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee’s assets located at the Premises or of Lessee’s interest in this Lease, where possession is not restored to
Lessee within 30 days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee’s assets located at the Premises or of Lessee’s interest in this Lease, where such seizure is not discharged within 30
days; provided, however, in the event that any provision of this subparagraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. 

(f) The discovery that any financial statement of Lessee or of any Guarantor given to Lessor was materially false. 

(g) If the performance of Lessee’s obligations under this Lease is guaranteed: (i) the death of a Guarantor, (ii) the
termination of a Guarantor’s liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a Guarantor’s becoming insolvent or the subject of a bankruptcy filing, (iv) a Guarantor’s
refusal to honor the guaranty, or (v) a Guarantor’s breach of its guaranty obligation on an anticipatory basis, and Lessee’s failure, within 60 days following written notice of any such event, to provide written alternative assurance
or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the Guarantors that existed at the time of execution of this Lease. 

13.2 Remedies. If Lessee fails to perform any of its affirmative duties or obligations, within 10 days after written notice (or in
case of an emergency, without notice), Lessor may, at its option, perform such duty or obligation on Lessee’s behalf, including but not limited to the obtaining of reasonably required bonds, insurance policies, or governmental licenses, permits
or approvals. The costs and expenses of any such performance by Lessor shall be due and payable by Lessee upon receipt of invoice therefor. If any check given to Lessor by Lessee shall not be honored by the bank upon which it is drawn, Lessor, at
its option, may require all future payments to be made by Lessee to be by cashier’s check. In the event of a Breach, Lessor may, with or without further notice or demand, and without 

  

							
	  
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limiting Lessor in the exercise of any right or remedy which Lessor may have by reason of such Breach: 
 (a) Terminate Lessee’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Lessee shall immediately surrender possession to Lessor. In such event
Lessor shall be entitled to recover from Lessee: (i) the unpaid Rent which had been earned at the time of termination; (ii) the worth at the time of award of the amount by which the unpaid rent which would have bean earned after
termination until the time of award exceeds the amount of such rental loss that the Lessee proves could have been reasonably avoided; (iii) the worth at the time of award of the amount by which the unpaid rent for the balance of the term after
the time of award exceeds the amount of such rental loss that the Lessee proves could be reasonably avoided; and (iv) any other amount necessary to compensate Lessor for all the detriment proximately caused by the Lessee’s failure to
perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including but not limited to the cost of recovering possession of the Premises, expenses of reletting, including necessary
renovation and alteration of the Premises, reasonable attorneys’ fees, and that portion of any leasing commission paid by Lessor in connection with this Lease applicable to the unexpired term of this Lease. The worth at the time of award of the
amount referred to in provision (iii) of the immediately preceding sentence shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of the District within which the Premises are located at the time of award
plus one percent. Efforts by Lessor to mitigate damages caused by Lessee’s Breach of this Lease shall not waive Lessor’s right to recover damages under Paragraph 12. If termination of this Lease is obtained through the provisional remedy
of unlawful detainer, Lessor shall have the right to recover in such proceeding any unpaid Rent and damages as are recoverable therein, or Lessor may reserve the right to recover all or any part thereof in a separate suit. If a notice and grace
period required under Paragraph 13.1 was not previously given, a notice to pay rent or quit, or to perform or quit given to Lessee under the unlawful detainer statute shall also constitute the notice required by Paragraph 13.1. In such case, the
applicable grace period required by Paragraph 13.1 and the unlawful detainer statute shall run concurrently, and the failure of Lessee to cure the Default within the greater of the two such grace periods shall constitute both an unlawful detainer
and a Breach of this Lease entitling Lessor to the remedies provided for in this Lease and/or by said statute. 
 (b) Continue
the Lease and Lessee’s right to possession and recover the Rent as it becomes due, in which event Lessee may sublet or assign, subject only to reasonable limitations. Acts of maintenance, efforts to relet, and/or the appointment of a receiver
to protect the Lessor’s interests, shall not constitute a termination of the Lessee’s right to possession. 
 (c)
Pursue any other remedy now or hereafter available under the laws or judicial decisions of the state wherein the Premises are located. The expiration or termination of this Lease and/or the termination of Lessee’s right to possession shall not
relieve Lessee from liability under any indemnity provisions of this Lease as to matters occurring or accruing during the term hereof or by reason of Lessee’s occupancy of the Premises, 

13.3 Inducement Recapture. Any agreement for free or abated rent or other charges, or for the giving or paying by Lessor to or for
Lessee of any cash or other bonus, inducement or consideration for Lessee’s entering into this Lease, all of which concessions are hereinafter referred to as “Inducement Provisions”, shall be deemed conditioned upon
Lessee’s full and faithful performance of all of the terms, covenants and conditions of this Lease. Upon Breach of this Lease by Lessee, any such Inducement Provision shall automatically be deemed deleted from this Lease and of no further force
or effect, and any rent, other charge, bonus, inducement or consideration theretofore abated, given or paid by Lessor under such an Inducement Provision shall be immediately due and payable by Lessee to Lessor, notwithstanding any subsequent cure of
said Breach by Lessee. The acceptance by Lessor of rent or the cure of the Breach which initiated the operation of this paragraph shall not be deemed a waiver by Lessor of the provisions of this paragraph unless specifically so stated in writing by
Lessor at the time of such acceptance. 
 13.4 Late Charges. Lessee hereby acknowledges that late payment by Lessee of
Rent will cause Lessor to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be
imposed upon Lessor by any Lender. Accordingly, if any Rent shall not be received by Lessor within 5 days after such amount shall be due, then, without any requirement for notice to Lessee, Lessee shall pay to Lessor a one-time late charge equal to
10% of each such overdue amount or $100, whichever is greater. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Lessor will incur by reason of such late payment. Acceptance of such late charge by
Lessor shall in no event constitute a waiver of Lessee’s Default or Breach with respect to such overdue amount, nor prevent the exercise of any of the other rights and remedies granted hereunder. In the event that a late charge is payable
hereunder, whether or not collected, for 3 consecutive installments of Base Rent, then notwithstanding any provision of this Lease to the contrary, Base Rent shall, at Lessor’s option, become due and payable quarterly in advance. 

13.5 Interest. Any monetary payment due Lessor hereunder, other than late charges, not received by Lessor, when due as to
scheduled payments (such as Base Rent) or within 30 days following the date on which it was due for non-scheduled payment, shall bear interest from the date when due, as to scheduled payments, or the 31st day after it was due as to non-scheduled
payments. The interest (“Interest”) charged shall be equal to the prime rate reported in the Wall Street Journal as published closest prior to the date when due plus 4%, but shall not exceed the maximum rate allowed by law. Interest
is payable in addition to the potential late charge provided for in Paragraph 13.4. 
 13.6 Breach by Lessor. 

(a) Notice of Breach. Lessor shall not be deemed in breach of this Lease unless Lessor fails within a reasonable time to perform
an obligation required to be performed by Lessor. For purposes of this Paragraph, a reasonable time shall in no event be less than 30 days after receipt by Lessor, and any Lender whose name and address shall have been furnished Lessee in writing for
such purpose, of written notice specifying wherein such obligation of Lessor has not been performed; provided, however, that if the nature of Lessor’s obligation is such that more than 30 days are reasonably required for its performance, then
Lessor shall not be in breach if performance is commenced within such 30 day period and thereafter diligently pursued to completion. 
 (b) Performance by Lessee on Behalf of Lessor. In the event that neither Lessor nor Lender cures said breach within 30 days after receipt of said notice, or if having commenced said cure they do
not diligently pursue it to completion, then Lessee may elect to cure said breach at Lessee’s expense and offset from Rent an amount equal to the greater of one month’s Base Rent or the Security Deposit, and to pay an excess of such
expense under protest, reserving Lessee’s right to reimbursement from Lessor. Lessee shall document the cost of said cure and supply said documentation to Lessor. 
 14. Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively
“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than 10% of the floor area of the Unit, or more than 25% of
Lessee’s Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee’s option, to be exercised in writing within 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice,
within 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall
remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall
be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for
Lessee’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the
Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the
Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation. 
 15. Brokerage Fees. 

15.1 Additional Commission. In addition to the payments owed pursuant to Paragraph 1.10 above, and unless Lessor and the
Brokers otherwise agree in writing, Lessor agrees that: (a) if Lessee exercises any Option, (b) if Lessee acquires from Lessor any rights to the Premises or other premises owned by Lessor and located within the Project, (c) if Lessee
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Premises, with the consent of Lessor, after the expiration of this Lease, or (d) if Base Rent is increased, whether by agreement or operation of an escalation clause herein, then,
Lessor shall pay Brokers a fee in accordance with the schedule of the Brokers in effect at the time of the execution of this Lease. 
 15.2 Assumption of Obligations. Any buyer or transferee of Lessor’s interest in this Lease shall be deemed to have assumed Lessor’s obligation hereunder. Brokers shall be third
party beneficiaries of the provisions of Paragraphs 1.10, 15, 22 and 31. If Lessor fails to pay to Brokers any amounts due as and for brokerage fees pertaining to this Lease when due, than such amounts shall accrue interest. In addition, if Lessor
fails to pay any amounts to Lessee’s Broker when due, Lessee’s Broker may send written notice to Lessor and Lessee of such failure and if Lessor fails to pay such amounts within 10 days after said notice, Lessee shall pay said monies to
its Broker and offset such amounts against Rent. In addition, Lessee’s Broker shall be deemed to be a third party beneficiary of any commission agreement entered into by and/or between Lessor and Lessor’s Broker for the limited purpose of
collecting any brokerage fee owed. 
 15.3 Representations and Indemnities of Broker Relationships. Lessee and
Lessor each represent and warrant to the other that it has had no dealings with any person, firm, broker or finder (other than the Brokers, if any) in connection with this Lease, and that no one other than said named Brokers is entitled to any
commission or finder’s fee in connection herewith. Lessee and Lessor do each hereby agree to indemnify, protect, defend and hold the other harmless from and against liability for compensation or charges which may be claimed by any such unnamed
broker, finder or other similar party by reason of any dealings or actions of the indemnifying Party, including any costs, expenses, attorneys’ fees reasonably incurred with respect thereto. 

16. Estoppel Certificates. 
 (a) Each Party (as “Responding Party”) shall within 10 days after written notice from the other Party (the “Requesting Party”) execute, acknowledge and deliver to the
Requesting Party a statement in writing in form similar to the then most current “Estoppel Certificate” form published by the American Industrial Real Estate Association, plus such additional information, confirmation and/or
statements as may be reasonably requested by the Requesting Party. 
 (b) If the Responding Party shall fail to execute or
deliver the Estoppel Certificate within such 10 day period, the Requesting Party may execute an Estoppel Certificate stating that: (i) the Lease is in full force and effect without modification except as may be represented by the Requesting
Party, (ii) there are no uncured defaults in the Requesting Party’s performance, and (iii) if Lessor is the Requesting Party, not more than one month’s rent has been paid in advance. Prospective purchasers and encumbrances may
rely upon the Requesting Party’s Estoppel Certificate, and the Responding Party shall be estopped from denying the truth of the facts contained in said Certificate. 
 (c) If Lessor desires to finance, refinance, or sell the Premises, or any part thereof, Lessee and all Guarantors shall deliver to any potential lender or purchaser designated by Lessor such financial
statements as may be reasonably required by such lender or purchaser, including but not limited to Lessee’s financial statements for the past 3 years. All such financial statements shall be received by Lessor and such lender or purchaser in
confidence and shall be used only for the purposes herein set forth. 
 17. Definition of Lessor. The term “Lessor” as
used herein shall mean the owner or owners at the time in question of the fee title to the Premises, or, if this is a sublease, of the Lessee’s interest in the prior lease. In the event of a transfer of Lessor’s title or interest in the
Premises or this Lease, Lessor shall deliver to the transferee or assignee (in cash or by credit) any unused Security Deposit held by Lessor. Except as provided in Paragraph 15, upon such transfer or assignment and delivery of the Security Deposit,
as aforesaid, the prior Lessor shall be relieved of all liability with respect to the obligations and/or covenants under this Lease thereafter to be performed by the Lessor. Subject to the foregoing, the obligations and/or covenants in this Lease to
be performed by the Lessor shall be binding only upon the Lessor as hereinabove defined. Notwithstanding the above, and subject to the provisions of Paragraph 20 below, the original Lessor under this Lease, and all subsequent holders of the
Lessor’s interest in this Lease shall remain liable and responsible with regard to the potential duties and liabilities of Lessor pertaining to Hazardous Substances as outlined in Paragraph 6.2 above. 

18. Severability. The invalidity of any provision of this Lease, as determined by a court of competent jurisdiction, shall in no way affect the
validity of any other provision hereof. 
 19. Days. Unless otherwise specifically indicated to the contrary, the word
“days” as used in this Lease shall mean and refer to calendar days. 
 20. Limitation on Liability. Subject to the
provisions of Paragraph 17 above, the obligations of Lessor under this Lease shall not constitute personal obligations of Lessor, the individual partners of Lessor or its or their individual partners, directors, officers or shareholders, and Lessee
shall look to the Premises, and to no other assets of Lessor, for the satisfaction of any liability of Lessor with respect to this Lease, and shall not seek recourse against the individual partners of Lessor, or its or their individual partners,
directors, officers or shareholders, or any of their personal assets for such satisfaction. 
 21. Time of Essence. Time is of the
essence with respect to the performance of all obligations to be performed or observed by the Parties under this Lease. 
 22. No Prior or
Other Agreements; Broker Disclaimer. This Lease contains all agreements between the Parties with respect to any matter mentioned herein, and no other prior or contemporaneous agreement or understanding shall be effective. Lessor and Lessee each
represents and warrants to the Brokers that it has made, and is relying solely upon, its own investigation as to the nature, quality, character and financial responsibility of the other Party to this Lease and as to the use, nature, quality and
character of the Premises. Brokers have no responsibility with respect thereto or with respect to any default or breach hereof by either Party. The liability (including court costs and attorneys’ fees), of any Broker with respect to
negotiation, execution, delivery or performance by either Lessor or Lessee under this Lease or any amendment or modification hereto shall be limited to an amount up to the fee received by such Broker pursuant to this Lease; provided, however, that
the foregoing limitation on each Broker’s liability shall not be applicable to any gross negligence or willful misconduct of such Broker. 
 23. Notices.  
 23.1 Notice Requirements. All notices required or
permitted by this Lease or applicable law shall be in writing and may be delivered in person (by hand or by courier) or may be sent by regular, certified or registered mail or U.S. Postal Service Express Mail, with postage prepaid, or by facsimile
transmission, and shall be deemed sufficiently given if served in a manner specified in this Paragraph 23. The addresses noted adjacent to a Party’s signature on this Lease shall be that Party’s address for delivery or mailing of notices.
Either Party may by written notice to the other specify a different address for notice, except that upon Lessee’s taking possession of the Premises, the Premises shall constitute Lessee’s address for notice. A copy of all notices to Lessor
shall be concurrently transmitted to such party or parties at such addresses as Lessor may from time to time hereafter designate in writing. 
 23.2 Date of Notice. Any notice sent by registered or certified mail, return receipt requested, shall be deemed given on the date of delivery shown on the receipt card, or if no delivery date is
shown, the postmark thereon. If sent by regular mail the notice shall be deemed given 48 hours after the same is addressed as required herein and mailed with postage prepaid. Notices delivered by United States Express Mail or overnight courier that
guarantee next day delivery shall be deemed given 24 hours after delivery of the same to the Postal Service or courier. Notices transmitted by facsimile transmission or similar means shall be deemed delivered upon telephone confirmation of receipt
(confirmation report from fax machine is sufficient), provided a copy is also delivered via delivery or mail. If notice is received on a Saturday, Sunday or legal holiday, it shall be deemed received on the next business day. 

24. Waivers. No waiver by Lessor of the Default or Breach of any term, covenant or condition hereof by Lessee, shall be deemed a waiver of any
other term, covenant or condition hereof, or of any subsequent Default or Breach by Lessee of the same or of any other term, covenant or condition hereof. Lessor’s consent to, or approval of, any act shall not be deemed to render unnecessary
the obtaining of Lessor’s consent to, or approval of, any subsequent or similar act by Lessee, or be construed as the basis of an estoppel to enforce the provision or provisions of this Lease requiring such consent. The acceptance of Rent by
Lessor shall not be a waiver of any Default or Breach by Lessee. Any payment by Lessee may be accepted by Lessor on account of moneys or damages due Lessor, notwithstanding any qualifying statements or conditions made by Lessee in connection
therewith, which such statements and/or conditions shall be of no force or effect whatsoever unless specifically agreed to in writing by Lessor at or before the time of deposit of 

  

							
	  
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such payment. 
 25. Disclosures Regarding The Nature of a Real Estate Agency
Relationship. 
 (a) When entering into a discussion with a real estate agent regarding a real estate transaction, a Lessor
or Lessee should from the outset understand what type of agency relationship or representation it has with the agent or agents in the transaction. Lessor and Lessee acknowledge being advised by the Brokers in this transaction, as follows:

 (i) Lessor’s Agent. A Lessor’s agent under a listing agreement with the Lessor acts as the agent for the
Lessor only. A Lessor’s agent or subagent has the following affirmative obligations: To the Lessor: A fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings with the Lessor. To the Lessee and the Lessor:
(a) Diligent exercise of reasonable skills and care in performance of the agent’s duties. (b) A duty of honest and fair dealing and good faith. (c) A duty to disclose all facts known to the agent materially affecting the value or
desirability of the property that are not known to, or within the diligent attention and observation of, the Parties. An agent is not obligated to reveal to either Party any confidential information obtained from the other Party which does not
involve the affirmative duties set forth above. 
 (ii) Lessee’s Agent. An agent can agree to act as agent for the
Lessee only. In these situations, the agent is not the Lessor’s agent, even if by agreement the agent may receive compensation for services rendered, either in full or in part from the Lessor. An agent acting only for a Lessee has the following
affirmative obligations. To the Lessee: A fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings with the Lessee. To the Lessee and the Lessor (a) Diligent exercise of reasonable skills and care in performance
of the agent’s duties. (b) A duty of honest and fair dealing and good faith. (c) A duty to disclose all facts known to the agent materially affecting the value or desirability of the property that are not known to, or within the
diligent attention and observation of, the Parties. An agent is not obligated to reveal to either Party any confidential information obtained from the other Party which does not involve the affirmative duties set forth above. 

(iii) Agent Representing Both Lessor and Lessee. A real estate agent, either acting directly or through one or more associate
licenses, can legally be the agent of both the Lessor and the Lessee in a transaction, but only with the knowledge and consent of both the Lessor and the Lessee. In a dual agency situation, the agent has the following affirmative obligations to both
the Lessor and the Lessee: (a) A fiduciary duty of utmost care, integrity, honesty and loyalty in the dealings with either Lessor or the Lessee. (b) Other duties to the Lessor and the Lessee as stated above in subparagraphs (i) or
(ii). In representing both Lessor and Lessee, the agent may not without the express permission of the respective Party, disclose to the other Party that the Lessor will accept rent in an amount less than that indicated in the listing or that the
Lessee is willing to pay a higher rent than that offered. The above duties of the agent in a real estate transaction do not relieve a Lessor or Lessee from the responsibility to protect their own interests. Lessor and Lessee should carefully read
all agreements to assure that they adequately express their understanding of the transaction. A real estate agent is a person qualified to advise about real estate. If legal or tax advice is desired, consult a competent professional. 

(b) Brokers have no responsibility with respect to any default or breach hereof by either Party. The liability (including court
costs and attorneys’ fees), of any Broker with respect to any breach of duty, error or omission relating to this Lease shall not exceed the fee received by such Broker pursuant to this Lease; provided, however, that the foregoing limitation on
each Broker’s liability shall not be applicable to any gross negligence or willful misconduct of such Broker. 

(c) Buyer and Seller agree to identify to Brokers as “Confidential” any communication or information given Brokers that is
considered by such Party to be confidential. 
 26. No Right To Holdover. Lessee has no right to retain possession of the Premises
or any part thereof beyond the expiration or termination of this Lease. In the event that Lessee holds over, then the Base Rent shall be increased to 150% of the Base Rent applicable immediately preceding the expiration or termination. Nothing
contained herein shall be construed as consent by Lessor to any holding over by Lessee. 
 27. Cumulative Remedies. No
remedy or election hereunder shall be deemed exclusive but shall, wherever possible, be cumulative with all other remedies at law or in equity. 
 28. Covenants and Conditions; Construction of Agreement. All provisions of this Lease to be observed or performed by Lessee are both covenants and conditions. In construing this Lease, all
headings and titles are for the convenience of the Parties only and shall not be considered a part of this Lease. Whenever required by the context, the singular shall include the plural and vice versa. This Lease shall not be construed as if
prepared by one of the Parties, but rather according to its fair meaning as a whole, as if both Parties had prepared it. 
 29.
Binding Effect; Choice of Law. This Lease shall be binding upon the parties, their personal representatives, successors and assigns and be governed by the laws of the State in which the Premises are located. Any litigation between the Parties
hereto concerning this Lease shall be initiated in the county in which the Premises are located. 
 30. Subordination; Attornment;
Non-Disturbance. see Addendum 
 30.1 Subordination. This Lease and any Option granted hereby shall be subject and
subordinate to any ground lease, mortgage, deed of trust, or other hypothecation or security device (collectively, “Security Device”), now or hereafter placed upon the Premises, to any and all advances made on the security thereof,
and to all renewals, modifications, and extensions thereof. Lessee agrees that the holders of any such Security Devices (in this Lease together referred to as “Lender”) shall have no liability or obligation to perform any of the
obligations of Lessor under this Lease. Any Lender may elect to have this Lease and/or any Option granted hereby superior to the lien of its Security Device by giving written notice thereof to Lessee, whereupon this Lease and such Options shall be
deemed prior to such Security Device, notwithstanding the relative dates of the documentation or recordation thereof. 
 30.2
Attornment. In the event that Lessor transfers title to the Premises, or the Premises are acquired by another upon the foreclosure or termination of a Security Device to which this Lease is subordinated (i) Lessee shall, subject to the
non-disturbance provisions of Paragraph 30.3, attorn to such new owner, and upon request, enter into a new lease, containing all of the terms and provisions of this Lease, with such new owner for the remainder of the term hereof, or, at the election
of such new owner, this Lease shall automatically become a new Lease between Lessee and such new owner, upon all of the terms and conditions hereof, for the remainder of the term hereof, and (ii) Lessor shall thereafter be relieved of any
further obligations hereunder and such new owner shall assume all of Lessor’s obligations hereunder, except that such new owner shall not: (a) be liable for any act or omission of any prior lessor or with respect to events occurring prior
to acquisition of ownership; (b) be subject to any offsets or defenses which Lessee might have against any prior lessor, (c) be bound by prepayment of more than one month’s rent, or (d) be liable for the return of any security
deposit paid to any prior lessor. 
 30.3 Non-Disturbance. With respect to Security Devices entered into by Lessor after
the execution of this Lease, Lessee’s subordination of this Lease shall be subject to receiving a commercially reasonable non-disturbance agreement (a “Non-Disturbance Agreement”) from the Lender which Non-Disturbance Agreement
provides that Lessee’s possession of the Premises, and this Lease, including any options to extend the term hereof, will not be disturbed so long as Lessee is not in Breach hereof and attorns to the record owner of the Premises. Further, within
60 days after the execution of this Lease, Lessor shall use its commercially reasonable efforts to obtain a Non-Disturbance Agreement from the holder of any pre-existing Security Device which is secured by the Premises. In the event that Lessor is
unable to provide the Non-Disturbance Agreement within said 60 days, then Lessee may, at Lessee’s option, directly contact Lender and attempt to negotiate for the execution and delivery of a Non-Disturbance Agreement. 

30.4 Self-Executing. The agreements contained in this Paragraph 30 shall be effective without the execution of any further
documents; provided, however, that, upon written request from Lessor or a Lender in connection with a sale, financing or refinancing of the Premises, Lessee and Lessor shall execute such further writings as may be reasonably required to separately
document any subordination, atornment and/or Non-Disturbance Agreement provided for herein. 
 31. Attorneys’ Fees. If any Party or
Broker brings an action or proceeding involving the Premises whether founded in tort, contract or equity, or to declare rights hereunder, the Prevailing Party (as hereafter defined) in any such proceeding, action, or appeal thereon, shall be
entitled to reasonable attorneys’ fees. Such fees may be awarded in the same suit or recovered in a separate suit, whether or not such action or proceeding is pursued to decision or judgment. The term, “Prevailing Party” shall
include, without limitation, a Party or Broker who substantially obtains or defeats the relief sought, as the case may be, whether by compromise, settlement, judgment, or 

  

							
	  
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the abandonment by the Other Party or Broker of its claim or defense. The attorneys’ fees award shall not be computed in accordance with any court fee schedule, but shall be such as to fully
reimburse all attorneys’ fees reasonably incurred. In addition, Lessor shall be entitled to attorneys’ fees, costs and expenses incurred in the preparation and service of notices of Default and consultations in connection therewith,
whether or not a legal action is subsequently commenced in connection with such Default or resulting Breach ($200 is a reasonable minimum per occurrence for such services and consultation). see Addendum 

32. Lessor’s Access; Showing Premises; Repairs. Lessor and Lessor’s agents shall have the right to enter the Premises at any
time, in the case of an emergency, and otherwise at reasonable times for the purpose of showing the same to prospective purchasers, lenders, or tenants, and making such alterations, repairs, improvements or additions to the Premises as Lessor may
deem necessary. All such activities shall be without abatement of rent or liability to Lessee. Lessor may at any time place on the Premises any ordinary “For Sale” signs and Lessor may during the last 6 months of the term hereof
place on the Premises any ordinary “For Lease” signs. Lessee may at any time place on the Premises any ordinary “For Sublease” sign. 
 33. Auctions. Lessee shall not conduct, nor permit to be conducted, any auction upon the Premises without Lessor’s prior written consent. Lessor shall not be obligated to exercise any standard
of reasonableness in determining whether to permit an auction. 
 34. Signs. Except far ordinary “For Sublease” signs which may
be placed only on the Premises, Lessee shall not place any sign upon the Project without Lessor’s prior written consent. All signs must comply with all Applicable Requirements. 
 35. Termination; Merger. Unless specifically staled otherwise in writing by Lessor, the voluntary or other surrender of this Lease by Lessee, the mutual termination or cancellation hereof, or a
termination hereof by Lessor for Breach by Lessee, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, that Lessor may elect to continue any one or all existing subtenancies. Lessor’s failure within
10 days following any such event to elect to the contrary by written notice to the holder of any such lesser interest, shall constitute Lessor’s election to have such event constitute the termination of such interest. 

36. Consents. Except as otherwise provided herein, wherever in this Lease the consent of a Party is required to an act by or for the other
Party, such consent shall not be unreasonably withheld or delayed. Lessor’s actual reasonable costs and expenses (including but not limited to architects’, attorneys’, engineers’ and other consultants’ fees) incurred in the
consideration of, or response to, a request by Lessee for any Lessor consent, including but not limited to consents to an assignment, a subletting or the presence or use of a Hazardous Substance, shall be paid by Lessee upon receipt of an invoice
and supporting documentation therefor. Lessor’s consent to any act, assignment or subletting shall not constitute an acknowledgment that no Default or Breach by Lessee of this Lease exists, nor shall such consent be deemed a waiver of any then
existing Default or Breach, except as may be otherwise specifically stated in writing by Lessor at the time of such consent. The failure to specify herein any particular condition to Lessor’s consent shall not preclude the imposition by Lessor
at the time of consent of such further or other conditions as are then reasonable with reference to the particular matter for which consent is being given. In the event that either Party disagrees with any determination made by the other hereunder
and reasonably requests the reasons for such determination, the determining party shall furnish its reasons in writing and in reasonable detail within 10 business days following such request. 

37. Guarantor. 
 37.1
Execution. The Guarantors, if any, shall each execute a guaranty in the form most recently published by the American Industrial Real Estate Association, and each such Guarantor shall have the same obligations as Lessee under this
Lease. 
 37.2 Default. It shall constitute a Default of the Lessee if any Guarantor fails or refuses,
upon request to provide: (a) evidence of the execution of the guaranty, including the authority of the party signing on Guarantor’s behalf to obligate Guarantor, and in the case of a corporate Guarantor, a certified copy of a resolution of
its board of directors authorizing the making of such guaranty, (b) current financial statements, (c) an Estoppel Certificate, or (d) written confirmation that the guaranty is still in effect. 

38. Quiet Possession. Subject to payment by Lessee of the Rent and performance of all of the covenants, conditions and provisions on
Lessee’s part to be observed and performed under this Lease, Lessee shall have quiet possession and quiet enjoyment of the Premises during the term hereof. 
 39. Options. If Lessee is granted an option, as defined below, then the following provisions shall apply. 
 39.1 Definition. “Option” shall mean: (a) the right to extend the term of or renew this Lease or to extend or renew any lease that Lessee has on other property of
Lessor; (b) the right of first refusal or first offer to lease either the Premises or other property of Lessor; (c) the right to purchase or the right of first refusal to purchase the Premises or other property of Lessor.

 39.2 Options Personal To Original Lessee. Any Option granted to Lessee in this Lease is personal to the
original Lessee, and cannot be assigned or exercised by anyone other than said original Lessee and only while the original Lessee is in full possession of the Premises and, if requested by Lessor, with Lessee certifying that Lessee has no intention
of thereafter assigning or subletting. 
         39.3 Multiple Options. In the event
that Lessee has any multiple Options to extend or renew this Lease, a later Option cannot be exercised unless the prior Options have been validly exercised. 
 39.4 Effect of Default on Options. 
 (a) Lessee shall have no right to
exercise an Option: (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured, (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given
Lessee), (iii) during the time Lessee is in Breach of this Lease, or (iv) in the event that Lessee has been given 3 or more notices of separate Default, whether or not the Defaults are cured, during the 12 month period immediately
preceding the exercise of the Option. 
 (b) The period of time within which an Option may be exercised shall not be extended or
enlarged by reason of Lessee’s inability to exercise an Option because of the provisions of Paragraph 39.4(a). 
 (c) An
Option shall terminate and be of no further force or effect, notwithstanding Lessee’s due and timely exercise of the Option, if, after such exercise and prior to the commencement of the extended term, (i) Lessee fails to pay Rent for a
period of 30 days after such Rent becomes due (without any necessity of Lessor to give notice thereof), (ii) Lessor gives to Lessee 3 or more notices of separate Default during any 12 month period, whether or not the Defaults are cured, or
(iii) if Lessee commits a Breach of this Lease. 
 40. Security Measures. Lessee hereby acknowledges that the Rent payable to Lessor
hereunder does not include the cost of guard service or other security measures, and that Lessor shall have no obligation whatsoever to provide same. Lessee assumes all responsibility for the protection of the Premises, Lessee, its agents and
invitees and their property from the acts of third parties. 
 41. Reservations. Lessor reserves the right: (i) to grant, without
the consent or joinder of Lessee, such easements, rights and dedications that Lessor deems necessary, (ii) to cause the recordation of parcel maps and restrictions, and (iii) to create and/or install new utility raceways, so long as such
easements, rights, dedications, maps, restrictions, and utility raceways do not unreasonably interfere with the use of the Premises by Lessee. Lessee agrees to sign any documents reasonably requested by Lessor to effectuate such rights. 

42. Performance Under Protest. If at any time a dispute shall arise as to any amount or sum of money to be paid by one Party to the other under
the provisions hereof, the Party against whom the obligation to pay the money is asserted shall have the right to make payment “under protest” and such payment shall not be regarded as a voluntary payment and there shall survive the right
on the part of said Party to institute suit for recovery of such sum. If it shall be adjudged that there was no legal obligation on the part of said Party to pay such sum or any part thereof, said Party shall be entitled to recover such sum or so
much thereof as it was not legally required to pay. 
 43. Authority. If either Party hereto is a corporation, trust, limited liability
company, partnership, or similar entity, each individual executing this Lease on behalf of such entity represents and warrants that he or she is duly authorized to execute and deliver this Lease on its behalf. Each party shall, within 30 days after
request, deliver to the other party satisfactory evidence of such authority. 
 44. Conflict. Any conflict between the printed provisions
of this Lease and the typewritten or handwritten provisions shall be controlled by the typewritten or handwritten provisions. 
 45. Offer.
Preparation of this Lease by either party or their agent and submission of same to the other Party shall not be deemed an offer to lease to the other Party. This Lease is not intended to be binding until executed and delivered by all Parties
hereto. 
 46. Amendments. This Lease may be modified only in writing, signed by the Parties in interest at the time of the modification.
As 

  

							
	  
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long as they do not materially change Lessee’s obligations hereunder, Lessee agrees to make such reasonable non-monetary modifications to this Lease as may be reasonably required by a Lender
in connection with the obtaining of normal financing or refinancing of the Premises. 
 47. Multiple Parties. If more than one person or
entity is named herein as either Lessor or Lessee, such multiple Parties shall have joint and several responsibility to comply with the terms of this Lease. 
 48. Waiver of Jury Trial. The Parties hereby waive their respective rights to trial by jury in any action or proceeding involving the Property or arising out of this Agreement. 

49. Mediation and Arbitration of Disputes. An Addendum requiring the Mediation and/or the Arbitration of all disputes between the Parties
and/or Brokers arising out of this Lease  ̈ is  ̈ is not attached to this Lease. 
 LESSOR AND LESSEE HAVE CAREFULLY READ AND REVIEWED THIS LEASE AND EACH TERM AND PROVISION CONTAINED HEREIN, AND BY THE EXECUTION OF THIS LEASE SHOW THEIR INFORMED AND VOLUNTARY CONSENT THERETO. THE
PARTIES HEREBY AGREE THAT, AT THE TIME THIS LEASE IS EXECUTED, THE TERMS OF THIS LEASE ARE COMMERCIALLY REASONABLE AND EFFECTUATE THE INTENT AND PURPOSE OF LESSOR AND LESSEE WITH RESPECT TO THE PREMISES. ATTENTION: NO REPRESENTATION OR
RECOMMENDATION IS MADE BY THE AMERICAN INDUSTRIAL REAL ESTATE ASSOCIATION OR BY ANY BROKER AS TO THE LEGAL SUFFICIENCY, LEGAL EFFECT, OR TAX CONSEQUENCES OF THIS LEASE OR THE TRANSACTION TO WHICH IT RELATES. THE PARTIES ARE URGED TO: 

1. SEEK ADVICE OF COUNSEL AS TO THE LEGAL AND TAX CONSEQUENCES OF THIS LEASE. 
 2. RETAIN APPROPRIATE CONSULTANTS TO REVIEW AND INVESTIGATE THE CONDITION OF THE PREMISES. SAID INVESTIGATION SHOULD INCLUDE BUT NOT BE LIMITED TO THE POSSIBLE PRESENCE OF HAZARDOUS SUBSTANCES, THE ZONING
OF THE PREMISES, THE STRUCTURAL INTEGRITY, THE CONDITION OF THE ROOF AND OPERATING SYSTEMS, COMPLIANCE WITH THE AMERICANS WITH DISABILITIES ACT AND THE SUITABILITY OF THE PREMISES FOR LESSEE’S INTENDED USE. 

WARNING: IF THE PREMISES ARE LOCATED IN A STATE OTHER THAN CALIFORNIA, CERTAIN PROVISIONS OF THE LEASE MAY NEED TO BE REVISED TO COMPLY WITH THE LAWS OF
THE STATE IN WHICH THE PREMISES ARE LOCATED. 
 The parties hereto have executed this Lease at the place and on the dates specified above their
respective signatures. 
  

									
	Executed at:	 	 San Diego, California
	 		 	Executed at:	 	 San Diego, California

	on:	 	 July 26, 2004
	 		 	on:	 	 July 26, 2004

	By LESSOR:	 		 	By LESSEE:
	 LMC-Sorrento Investment Company,
	 		 	 Ambit Biosciences Corporation,

	 a California limited liability company
	 		 	 a Delaware corporation

	By:	 	 /s/ Lee M. Chesnut
	 		 	By:	 	 /s/ M. Salka

	Name Printed:	 	 Lee M. Chesnut
	 		 	Name Printed:	 	 M SALKA

	Title:	 	 Manager
	 		 	Title:	 	 CEO

					
	By:	 	  
	 		 	By:	 	  

	Name Printed:	 	  
	 		 	Name Printed:	 	  

	Title:	 	  
	 		 	Title:	 	  

	Address:	 	 1935 Ocean Front
	 		 	Address:	 	 4215 Sorrento Valley Road

	
                    
          Del Mar, California 92014
	 		 	
                    
       San Diego, California 92121

					
	Telephone: (858)	 	 523-0694
	 		 	Telephone: ( )	 	  

	Facsimile: (858)	 	 523-0698
	 		 	Facsimile: ( )	 	  

	Federal ID No.	 	  
	 		 	Federal ID No.	 	  

 These forms are often modified to meet changing requirements of law and needs of the industry. Always write or call to
make sure you are utilizing the most current form: American Industrial Real Estate Association, 700 South Flower Street, Suite 600, Los Angeles, CA 90017. (213) 687-8777. 

©Copyright 1999–By American Industrial Real Estate Association. 

All rights reserved. 
 No part of these works may be reproduced in any form without permission in writing. 

  

							
	  
	  		 	
	  
	  		 	
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	© 1999 – American Industrial Real Estate Association	  	FORM MTN-2-2/99

 RULES AND REGULATIONS 

 
  

			
	Dated:	 	
                    
                    July 22, 2004

			
	By and Between:	 	
                    
                    LMC-Sorrento Investment Company, LLC, and Ambit Biosciences Corporation

 GENERAL RULES 
 1. Lessee shall not suffer or permit the obstruction of any Common Areas, including driveways, walkways and stairways. 
 2. Lessor reserves the right to refuse access to any persons Lessor in good faith judges to be a threat to the safety and reputation of the Project and its occupants. 

3. Lessee shall not make or permit any noise or odors that annoy or interfere with other lessees or persons having business within the
Project. 
 4. Lessee shall not keep animals or birds within the Project, and shall not bring bicycles, motorcycles or other
vehicles into areas not designated as authorized for same. 
 5. Lessee shall not make, suffer or permit litter except in
appropriate receptacles for that purpose. 
 6. Lessee shall not alter any lock or install new or additional locks or bolts.

 7. Lessee shall be responsible for the inappropriate use of any toilet rooms, plumbing or other utilities. No foreign
substances of any kind are to be inserted therein. 
 8. Lessee shall not deface the walls, partitions or other surfaces of the
Premises or Project. 
 9. Lessee shall not suffer or permit anything in or around the Premises or Building that causes
excessive vibration or floor loading in any part of the Project. 
 10. Furniture, significant freight and equipment shall be
moved into or out of the building only with the Lessor’s knowledge and consent, and subject to such reasonable limitations, techniques and timing, as may be designated by Lessor. Lessee shall be responsible for any damage to the Office Building
Project arising from any such activity. 
 11. Lessee shall not employ any service or contractor for services or work to be
performed in the Building, except as approved by Lessor. 
 12. Lessor reserves the right to close and lock the Building on
Saturdays, Sundays and Building Holidays, and on other days between the hours of 6: 00 P.M. and 8:00 A.M. of the following day. If Lessee uses the Premises during such periods, Lessee shall be responsible for securely locking
any doors it may have opened for entry. 
 13. Lessee shall return all keys at the termination of its tenancy and shall be
responsible for the cost of replacing any keys that are lost. 
 14. No window coverings, shades or awnings shall be installed
or used by Lessee. 
 15. No Lessee, employee or invitee shall go upon the roof of the Building. 

16. Lessee shall not suffer or permit smoking or carrying of lighted cigars or cigarettes in areas reasonably designated by Lessor or by
applicable governmental agencies as non-smoking areas. 
 17. Lessee shall not use any method of heating or air conditioning
other than as provided by Lessor. 
 18. Lessee shall not install, maintain or operate any vending machines upon the Premises
without Lessor’s written consent. 
 19. The Premises shall not be used for lodging or manufacturing, cooking or food
preparation, except coffeemaker and microwave oven use. 
 20. Lessee shall comply with all safety, fire protection and
evacuation regulations established by Lessor or any applicable governmental agency. 
 21. Lessor reserves the right to waive
any one of these rules or regulations, and/or as to any particular Lessee, and any such waiver shall not constitute a waiver of any other rule or regulation or any subsequent application thereof to such Lessee. 

22. Lessee assumes all risks from theft or vandalism and agrees to keep its Premises locked as may be required. 

23. Lessor reserves the right to make such other reasonable rules and regulations as it may from time to time deem necessary for the
appropriate operation and safety of the Project and its occupants. Lessee agrees to abide by these and such rules and regulations. 
 PARKING RULES 
 1. Parking areas shall be used only for parking by vehicles
no longer than full size, passenger automobiles herein called “Permitted Size Vehicles.” Vehicles other than Permitted Size Vehicles are herein referred to as “Oversized Vehicles” 

2. Lessee shall not permit or allow any vehicles that belong to or are controlled by Lessee or Lessee’s employees, suppliers,
shippers, customers, or invitees to be loaded, unloaded, or parked in areas other than those designated by Lessor for such activities. 
 3. Parking stickers or identification devices shall be the property of Lessor and be returned to Lessor by the holder thereof upon termination of the holder’s parking privileges. Lessee will pay such
replacement charge as is reasonably established by Lessor for the loss of such devices. 
 4. Lessor reserves the right to
refuse the sale of monthly identification devices to any person or entity that willfully refuses to comply with the applicable rules, regulations, laws and/or agreements. 
 5. Lessor reserves the right to relocate all or a part of parking spaces from floor to floor, within one floor, and/or to reasonably adjacent offsite location(s), and to reasonably allocate them between
compact and standard size spaces, as long as the same complies with applicable laws, ordinances and regulations. 
 6. Users of
the parking area will obey all posted signs and park only in the areas designated for vehicle parking. 
 7. Unless otherwise
instructed, every person using the parking area is required to park and lock his own vehicle. Lessor will not be responsible for any damage to vehicles, injury to persons or loss of property, all of which risks are assumed by the party using the
parking area. 
 8. Validation, if established, will be permissible only by such method or methods as Lessor and/or its licensee
may establish at rates generally applicable to visitor parking. 
 9. The maintenance, washing, waxing or cleaning of vehicles
in the parking structure or Common Areas is prohibited. 
 10. Lessee shall be responsible for seeing that all of its employees,
agents and invitees comply with the applicable parking rules, regulations, laws and agreements. 
 11. Lessor reserves the right
to modify these rules and/or adopt such other reasonable and non-discriminatory rules and regulations as it may deem necessary for the proper operation of the parking area. 
 12. Such parking use as is herein provided is intended merely as a license only and no bailment is intended or shall be created hereby. 

  

							
	  
	  		 	 /s/ LMC

	  
	  		 	 /s/ MS

	Initials	  	PAGE 1 of 1	 	Initials
	© 1999 – American Industrial Real Estate Association	  	FORM MTN-2-2/99

 Addendum to Lease 

This Addendum, dated July 22, 2004, constitutes an addendum to that certain Standard Industrial/Commercial Multi-Tenant Lease
(“the Lease”) dated July 22, 2004, by and between (1) LMC-Sorrento Investment Company, LLC, a California limited liability company (“Lessor”), and (2) Ambit Biosciences Corporation, a Delaware
corporation (“Lessee”). Lessor and Lessee hereby supplement and amend the Lease, as follows: 
 1.2
Premises. As used herein, “the Building” means the building commonly known as 4215 Sorrento Valley Road, San Diego, California 92121. The “Unit” consists of a portion of the Building depicted on
Exhibit 1 attached hereto. The “Premises” consists of the Unit and Lessee’s interest in the Common Areas. 

1.3 Term. 
 1.3.1 Original Term. The Original Term of the Lease shall commence on the date Lessor delivers to Lessee possession of the Premises (“Commencement Date”), which date is
estimated to be July 23, 2004 (“Estimated Commencement Date”). Subject to Lessee’s option to extend and unless sooner terminated as herein provided, the tern of the Lease shall expire at 11:59 p.m. on the last day of the
fifth Lease Year (defined below), which date is the expiration of the Original Term (“Expiration Date”). References in the Lease to “Start Date” shall mean the Commencement Date. 

1.3.2 Option to Renew. Lessee shall have the right and option to renew the term of the Lease for a further term of five
years commencing on the expiration of the Original Term. The option to extend the term of the Lease may be exercised only by the delivery by Lessee to Lessor, not less than nine months prior to the expiration of the term, of written notice of such
exercise. Lessee’s exercise of the option shall be irrevocable. Lessee’s occupancy during the option period shall be subject to all terms and conditions of the Lease; however, the Base Rent payable during the option period shall be subject
to adjustment as provided in Sections 1.5.3 and 1.5.4 below. 
 1.5 Base Rent. 

1.5.1 Commencement and Adjustment. Commencing on the Commencement Date, Lessee shall pay Base Rent to Lessor, in advance
without deduction, offset, notice or demand. During the Original Term and any extended term, Lessee shall not pay any additional rent or fee for parking. Subject to adjustment, as provided below, a schedule of the Base Rent to be paid during the
Original Term is as follows: 
  

					
	 Applicable Period
	  	Amount/Month	 
		
	 Lease Year 1
	  	$	61,316.08	  
	 Lease Year 2
	  	$	63,768.72	  
	 Lease Year 3
	  	$	66,319.47	  
	 Lease Year 4
	  	$	68,972.25	  
	 Lease Year 5
	  	$	71,731.41	  

  
 1. 

 If the Commencement Date occurs on other than the first day of a calendar month, then the Base Rent for such
partial month of the term of the Lease shall be (1) prorated in the proportion that the number of days of the Lease is in effect during such period bears to 30 and (2) paid on the Commencement Date. 

1.5.2 “Lease Year” Defined. As used herein, the term “Lease Year” shall mean each 12-month
period commencing on the Commencement Date if the Commencement Date is the first day of a calendar month, but otherwise on the first day of the calendar month immediately next following the calendar month in which the Commencement Date occurs, and
ending on the last day of the twelfth month thereafter; however, the first Lease Year shall include any partial month in which the Commencement Date occurs if the Commencement Date occurs on a day other than the first day of the month (e.g., if the
Commencement Date were July 22, 2004, then the first Lease Year would be July 22, 2004, through July 31, 2005, and each subsequent Lease Year would start on August 1 and end on July 31). 

1.5.3 Determination of Base Rent for First Lease Year of Option Period. The Base Rent to be paid by Lessee to Lessor
during the first Lease Year of the option period shall be the Market Rental Rate (defined below), but in no event shall the Base Rent for the first Lease Year of the option period be less than the Base Rent for the fifth Lease Year of the Original
Term. As used herein, the term “Market Rental Rate” shall mean that rate that is prevailing as of the commencement of the first Lease Year of the option period for comparable space in a comparable building in the Sorrento Valley
area of San Diego, California, taking into consideration the size and age of and improvements in the Premises, the five-year term of the option period, and other relevant factors, which Market Rental Rate shall be determined as follows: 

(a) By mutual agreement between Lessor and Lessee evidenced in a writing signed by each and mutually delivered or 

(b) If Lessor and Lessee have not agreed upon the Market Rental Rate prior to the commencement of the first Lease Year of the option
period, then either Lessor or Lessee may submit the issue of Market Rental Rate to determination by arbitration under the auspices of the American Arbitration Association, which shall be conducted pursuant to the commercial rules except as otherwise
provided in this Lease. The venue for the arbitration shall be in the City of San Diego. With respect to the conduct of the arbitration, the following shall apply: 
 (i) Not less than three weeks in advance of the date for the commencement of the arbitration hearing, Lessor and Lessee shall each exchange (1) the name, address and qualifications of any appraiser,
broker or other expert intended to be called at the time of the arbitration (each, an “Expert”), (2) any reports and/or data relied upon by the Expert in connection with forming an opinion as to Market Rental Rate, and
(3) a statement as to each party’s determination of the Market Rental Rate (“MRR Statement”) (i.e., Lessor shall give to Lessee Lessor’s determination of the Market Rental Rate and vice-versa). 

  
 2. 

 (ii) For a period of 10 days following the exchange of the MRR Statements, either party may
accept the Market Rental Rate stated in the other party’s MRR Statement, and, in such event, the accepted amount will become the Base Rent for the first Lease Year of the option period (e.g., if Lessor delivered to Lessee timely written notice
of acceptance of Lessee’s determination of Market Rental Rate as provided in Lessee’s MRR Statement, then the amount shown on Lessee’s MRR Statement would become the Base Rent for the first Lease Year of the option period).

 (iii) If neither party accepts the other party’s determination of Market Rental Rate, then the arbitration shall be
conducted before a single arbitrator that shall be selected pursuant to the commercial rules. Not less than five days prior to the date set for the hearing for the arbitration, each party shall (1) make available for an oral deposition any
Expert whose testimony is expected to be given at the time of the arbitration and (2) deliver to the other party all exhibits that are intended to be entered into evidence at the time of the arbitration. 

(iv) Except as provided below, each party shall bear its own attorney’s fees and Expert’s fees. Except as provided below, each
party shall share equally any administrative fees owed to the American Arbitration Association and the reasonable hourly fees owed to the arbitrator. Notwithstanding the foregoing, if the amount of the Market Rental Rate stated in Lessee’s MRR
Statement is less than 95 percent of the Market Rental Rate determined by the arbitrator, then the arbitrator may, in the arbitrator’s discretion, assess against Lessee costs incurred by Lessor in connection with the arbitration, including,
without limitation, reasonable attorney’s fees, Expert’s fees, arbitrator’s fees and administration fees. If the amount of the Market Rental Rate stated in Lessor’s MRR Statement is greater than 105 percent of the Market Rental
Rate determined by the arbitrator, then the arbitrator may, in the arbitrator’s discretion, assess against the Lessor costs incurred by Lessee in connection with the arbitration, including, without limitation, reasonable attorney’s fees,
Expert’s fees, arbitrator’s fees and administration fees. 
 (v) Following rendition of the arbitrator’s award,
either party may petition the Superior Court of the State of California for the County of San Diego to have the award confirmed and entered as a judgment. 
 Pending determination of the Market Rental Rate for the option period, Lessee shall pay to Lessor Base Rent in an amount equal to 104 percent of the Base Rent in effect during the fifth Lease Year. If the
Market Rental Rate is greater than 104 percent of the Base Rent payable during the fifth Lease Year, then, within 30 days following the arbitrator’s decision determining the amount of the Market Rental Rate, Lessee shall pay to Lessor the
difference between (1) the Base Rent that should have been paid during the first Lease Year of the option period based upon the Market Renal Rate and (2) the actual amount of the Base Rent paid by Lessee during the first Lease Year of the
option period. If it is determined that the Market Rental Rate is less than 104 percent of the Base Rent payable during the fifth Lease Year, then Lessee shall be entitled to credit against Base Rent next coming due in an amount equal to the excess
paid by Lessee. 

  
 3. 

 1.5.4 Determination of Base Rent for Subsequent Lease Years of the Option
Period. The Base Rent for each subsequent Lease Year of the option period will be equal to the amount derived by multiplying the Base Rent for the prior Lease Year of the option period by 1.04. By way of example, if the Base Rent for the
first Lease Year of the option period were determined to be $78,000.00, the Base Rent for the second, third, fourth, and fifth Lease Years of the option period would be $81,120.00, $84,364.80, $87,739.39, and $91,248.97. 

1.7(e) Amount Due on Execution. Upon execution of this Lease, Lessee shall pay to Lessor $122,632.16, $61,316.08 of which
shall be applied to Base Rent for the first month of the Original Term and $61,316.08 of which shall be the Security Deposit. As of execution of this Lease, Lessor has not furnished to Lessee an estimate of Common Area Operating Expenses. Lessee
shall commence to pay estimated payments of Lessee’s Share of Common Area Operating Expenses when the estimate is delivered to Lessee. 
 1.8 Agreed Use. The agreed use is for biotechnology research and development and related office uses, subject to Lessee’s compliance with applicable zoning and any existing recorded
land use restrictions. 
 2.2 Condition. Notwithstanding anything to the contrary in Paragraph 2.2, should a
noncompliance with this warranty be of a latent nature, such six-month and 30-day time limitation shall not apply, and Lessor shall rectify such noncompliance, at Lessor’s sole cost and expense promptly after receipt of written notice thereof.

 2.3 Compliance. Notwithstanding anything in Section 2.3 to the contrary, should a noncompliance with
Lessor’s warranty be of a latent nature, such six-month time limitation shall not apply, and Lessor shall rectify such noncompliance, at Lessor’s sole cost and expense, promptly after receipt of written notice thereof. 

The provisions of section 2.3(b) are deleted and replaced with the following: “If such Capital Expenditure is not the result of the specific and
unique use of the Premises by Lessee (such as governmentally mandated seismic modifications), then the same shall be performed at the sole cost of Lessor.” 
 2.4 Acknowledgments. This section is hereby deleted in its entirety. 

2.5 Lessee as Prior Owner/Occupant. This section is hereby deleted in its entirety. 

2.9 Common Areas–Rules and Regulations. If any rule or regulation is in conflict with any term, covenant or condition
of this Lease, this Lease shall prevail. Following a written request from Lessee, Lessor shall use commercially reasonable efforts to enforce the rules and regulations against other tenants of the Building. 

2.10 Common Areas–Changes. Lessor shall not exercise Lessor’s rights under Paragraph 2.10 of the Lease in a
manner that materially and adversely affects Lessee’s use of the Premises. 

  
 4. 

 3.3. Delay in Possession. Notwithstanding anything in this Lease to the
contrary, if possession is not delivered within 30 days after the Estimated Commencement Date, then Lessee may, at its option, by notice in writing until such delivery of possession, cancel this Lease, in which event Lessor shall return all sums
previously paid or deposited by Lessee and the parties shall be discharged from all obligations hereunder. 
 4.2 Common
Area Operating Expenses/Management Fees. Common Area Operating Expenses shall include all fees incurred by Lessor for third-party professional management of the Project; however, such fee shall not exceed an amount that is commercially
reasonable for the area in which the Project is located and in no event more than three percent of the total Base Rent from all tenants of the Project. If Lessor does not engage the services of a third-party professional management company (i.e., if
Lessor self-manages the Project), Common Area Operating Expenses will include a charge for Lessor’s management equal to three percent of total Base Rent from all tenants of the Project. As of the Commencement Date, the Project will be managed
by Lessor. Lessor may, at any time, change the company that manages the Project. Common Area Operating Expenses do not include the following: 
 4.2.1 Any fines, penalty charges, or interest incurred by Lessor due to violation of law or late payment, violation of this Lease or any other lease in the Property, or due to Lessor’s negligence or
willful misconduct. 
 4.2.2 The cost of repairs or other work occasioned by casualty or as a result of condemnation,
construction defect or code violation. 
 4.2.3 Expenses incurred in connection with the services provided to others but not to
Lessee. 
 4.2.4 Expenses incurred in connection with drafting or enforcing leases, such as, but not limited to, accounting,
legal, architectural, space planning, or engineering fees, advertising, or promotions costs. 
 4.2.5 Repairs and maintenance
necessary because of negligence or willful misconduct of other tenants, their officers, agents, employees, invitees, licensees, and those parties working through or under those tenants. 

4.2.6 Costs for alterations of other tenants’ premises prior to and during duration of leases. 

4.2.7 Interest and principal payment on mortgages and other debt costs. 

4.2.8 Rent payments under ground leases. 
 4.2.9 Capital expenditures that are discretionary in nature and do not otherwise (1) constitute a repair or replacement of existing fixtures, equipment, or improvements or (2) have the intended
effect of reducing Common Area Operating Expenses. 

  
 5. 

 4.2.10 Costs for Lessor’s overhead and management expenses in excess of the amounts
described above. 
 4.2.11 Overhead profit increments paid to Lessor’s subsidiaries or affiliates for management or other
services on or to the building or for supplies or other materials to the extent that the cost of the services, supplies, or materials exceeds the cost that would have been paid had the services, supplies, or materials been provided by unaffiliated
parties on a competitive basis. 
 4.2.12 Leasing commissions, attorneys’ fees, costs, disbursements, and other expenses
incurred in connection with negotiations or disputes with tenants, leasing, renovating, or improving space for tenants or other occupants or prospective tenants or other occupants of the Building. 

4.2.13 Any depreciation on the Building or Project. 
 4.2.14 Costs incurred due to Lessor’s violation of any terms or conditions of this Lease or any other lease relating to the Building or Project. 

4.2.15 All rental and other payable due under any ground or underlying lease or any lease for any equipment ordinarily considered to be
of a capital nature (except janitorial equipment that is not affixed to the Building.) 
 4.2.16 Any compensation paid to
clerks, attendants, or other persons in commercial concessions operated by Lessor. 
 4.2.17 Advertising and promotional
expenditures. 
 4.2.18 Costs of repairs and other work occasioned by fire, windstorm, or other casualty of an insurable
nature. 
 4.2.19 Wages, salaries, or other compensation paid to any executive employees above the grade of building manager.

 4.2.20 The cost of correcting any building code or other violations that were violations prior to the Commencement Date.

 4.2.21 The cost of containing, removing, or otherwise remediating any contamination of the Project (including the underlying
land and ground water) by any toxic or hazardous materials (including, without limitation, asbestos and PCBs), where such contamination was not caused by Lessee. 
 4.2(e) Audit Rights. Lessor shall keep complete and accurate records in accordance with good bookkeeping and accounting practices regarding all Common Area Operating Expenses. Lessee shall
have the right to audit such records for each calendar year 

  
 6. 

 
during the term of this Lease by notifying Lessor within 120 days following the end of each such calendar year and/or 120 days after Lessor has furnished Lessee a statement of such actual
expenses. If an audit (performed by a certified public accountant on behalf of Lessee) reveals that Lessor has overcharged Lessee for common Area Operating Expenses, Lessor shall refund the amount overcharged within ten days after such determination
has been made. If Lessor has overcharged Lessee by more than 5 percent, Lessor shall refund the overcharged amount and, in addition, shall pay the costs of Lessee’s audit. 

6.2 Hazardous Substances. Other than any matters that may be disclosed in the environmental report prepared for Pfizer (the
prior occupant of the Building) (a copy of which has been made available to Lessee), Lessor represents and warrants that Lessor has no actual knowledge of the presence on the Premises of any Hazardous Substances (defined below). 

6.2.1 Definition of “Hazardous Substance.” As used herein, the term “Hazardous Substance” means
any hazardous or toxic substance, material or waste that is or becomes regulated by any local governmental authority, the State of California or the United States government. The term “Hazardous Substance” includes, without
limitation, any material or substance that is (i) defined as a “hazardous waste,” “extremely hazardous waste,” or “restricted hazardous waste” under Section 25515 or 25117 or listed pursuant to
Section 25140 of the California Health and Safety Code, Division 20, Chapter 6.5 (Hazardous Waste Control Law), (ii) defined as a “hazardous substance” under Section 25316 of the California Health and Safety Code, Division
2, Chapter 6.8 (Carpenter-Presly-Tanner Hazardous Substance Account Act), (iii) defined as a “Hazardous Substance,” “hazardous substance,” or “hazardous waste” under Section 25501 of the California Health and
Safety Code, Division 20, Chapter 6.95 (Hazardous Substances), (iv) petroleum, (v) asbestos, (vi) listed under Article 9 and defined as hazardous or extremely hazardous pursuant to Article 11 of Title 22 of the California
Administrative Code, Division 4, Chapter 20, (vii) designated as a “hazardous substance” pursuant to Section 311 of the Federal Water Pollution Control Act (33 U.S.C. section 1317), (viii) defined as a “hazardous
waste” pursuant to Section 1004 of the Federal Resource Conversation and Recovery Act, 42 U.S.C. section 6901, et seq. (42 U.S.C section 6903), (ix) defined as “hazardous substance” pursuant to Section 101 of the
Comprehensive Environmental Response Compensation and Liability Act, 42 U.S.C. section 9601, et seq. (42 U.S.C. section 9601), or (x) any other material, substance, product or compound for which Lessee must obtain a license from California
Department of Health Services or similar federal, state, or local agency lawfully to use or store such material, substance, product or compound anywhere in the Project. 
 6.2.2 Prohibition/Compliance. Lessee shall not cause or permit Lessee’s agents, employees, or contractors to bring, keep, or use in or about the Project any Hazardous Substance in
violation of applicable law. If Lessee breaches the obligation stated in the preceding sentence, then Lessee shall indemnify, defend and hold harmless Lessor, its agents and contractors from any and all claims, judgments, damages, penalties, fines,
costs, liabilities, or losses (including, without limitation, diminution in value of the Premises, damages for the loss or restriction on use of rentable or usable space or of any amenity of the Premises, damages arising from any adverse impact on
marketing of space in the Premises and sums paid in settlement of claims, attorney’s fees, consultant’s fees and expert’s fees) that arise during or after 

  
 7. 

 
the Lease term as a result of such breach; provided, however, the foregoing indemnification obligation shall not cover losses and damages to the extent caused by Lessor’s negligence, willful
misconduct or breach of this Lease. Lessee’s indemnification obligation includes, without limitation, costs incurred in connection with any investigation of site conditions or any cleanup, remedial, removal, or restoration work required by any
federal, state or local governmental agency or political subdivision because of Hazardous Substance present in the air, soil or ground water above on or under the Premises. Without limiting the foregoing, if the presence of any Hazardous Substance
on the Premises, the Project, or any adjacent property, caused or permitted by Lessee’s employees, agents, or contractors results in any unlawful contamination of the Premises, the Project, or adjacent property, Lessee shall promptly take all
actions at its sole expense as are necessary to ensure that, with respect to such unlawful contamination, the Premises, the Project, and any adjacent property meets all applicable local, state and federal laws and any regulations or standards
promulgated thereunder, in effect now or in the future, including requirements by any governmental agency or imposed by any governmental order or court having jurisdiction over the Premises, the Project, or any adjacent property, provided that
Lessor’s approval of such action shall first be obtained, which approval shall not unreasonably be withheld so long as such actions would not potentially have any material adverse long-term or short-term effect on the Premises. 

6.2.3 Business. Lessor acknowledges that this Section 6.2 does not prohibit Lessee from operating its business as
described in Section 1.8 above. Lessee may operate its business according to the custom of the industry so long as the use or presence of Hazardous Substances is strictly and properly monitored according to all applicable governmental
requirements and pursuant to and in compliance with all required licenses, approvals, and permits. As a material inducement to Lessor to allow Lessee to use Hazardous Substances in connection with its business, Lessee agrees to deliver to Lessor
prior to the Commencement Date a list identifying each type of Hazardous Substance to be present on the Premises and setting forth any and all governmental approvals, licenses, or permits required in connection with the presence of such Hazardous
Substance on the Premises (“Hazardous Substance List”). Lessee shall deliver to Lessor an updated Hazardous Substance List at least once a year. Lessee shall deliver to Lessor true and correct copies of the following documents
(hereinafter referred to as the “Documents”) relating to the handling, storage, disposal and emission of Hazardous Substances prior to the Commencement Date or, if unavailable at that time, concurrent with the receipt from or
submission to a governmental agency: licenses, permits, approvals, reports and correspondence, storage and management plans, notice of violations of any laws, plans relating to the installation of any storage tanks to be installed in or under the
Project (provided that said installation of tanks shall be permitted only after Lessor has given Lessee its written consent to do so, which consent may be withheld in Lessor’s sole and absolute discretion), and all closure plans or any other
documents required by any and all federal, state and local governmental agencies and authorities for any storage tanks installed in, on, or under the Project for the closure of any such tanks. Lessee is not required, however, to provide Lessor with
any portion(s) of the Documents containing information of a proprietary nature, which, in and of themselves, do not contain a reference to any Hazardous Substance or hazardous activities. 

  
 8. 

 6.3 Lessee’s Compliance with Requirements. Anything to the contrary
contained in this Lease notwithstanding, Lessee shall not be responsible for compliance with any Applicable Requirements where (i) the noncompliance existed prior to the Start Date or (ii) such compliance would require capital expenditures
and is not related specifically to Lessee’s use and occupancy of the Premises. For example, if any governmental authority should require the Building or the Premises to be structurally strengthened against earthquake or the removal of asbestos
from the Premises and such measures are imposed as a general requirement applicable to all tenants rather than as a condition to Lessee’s specific use or occupancy of the Premises, such work shall be performed by and at the sole cost of Lessor.

 6.4 Inspection/Compliance. Lessor and Lessor’s Lender and consultants shall have the right to enter into
the Premises at any time in the case of an emergency, the determination of which shall require Lessor to be reasonable, and otherwise at reasonable times with reasonable notice (of at least 48 hours) for the purpose of inspecting the condition of
the Premises and for verifying compliance by Lessee with the Lease. Lessor shall use reasonable efforts to provide Lessee with notice in the event of an emergency. In the event of any entry by Lessor onto the Premises, Lessor shall be subject to
Lessee’s reasonable security requirements and shall use its best efforts not to interfere with the conduct of Lessee’s business. Lessor shall pay the cost of any such inspections, unless a material violation by Lessee is found to exist or
be imminent, or the inspection is requested or ordered by a governmental authority and Lessee has failed to adequately respond. In such case, Lessee shall, upon request, reimburse Lessor for the reasonable cost of such inspections, so long as such
inspection is directly related to the violation or contamination. 
 6.5 Clearances Required upon Surrender. At
the time Lessee surrenders possession of the Premises following expiration of the term or termination of the Lease, Lessee shall deliver to Lessor written evidence that Lessee has obtained from all appropriate governmental agencies approval of
decontamination of the Premises and decommissioning of any licenses, permits, or approvals received by Lessee pertaining to Hazardous Substances used or stored by Lessee at the Project. Lessee shall be deemed to be a holdover tenant if
(1) Lessee has not obtained all such approvals at the time Lessee surrenders possession and (2) Lessor may not lawfully allow occupancy of the Premises without such approvals (e.g., if (1) Lessee used radioactive materials in the
Premises pursuant to a license or permit issued by an agency of California and (2) at the time Lessee surrendered possession, the agency had not approved the Premises to be occupied by another tenant until the license or permit was fully
decommissioned, then Lessee would be deemed to be a holdover tenant until the agency decommissioned the license and allowed the Premises to be re-occupied). 
 7.2 Lessor’s Obligations. Notwithstanding the provisions of Paragraph 7.2, if Lessor fails to timely perform its maintenance and repair obligations hereunder, and, as a consequence,
Lessee’s use of the Premises is substantially impaired, Lessee shall have the right to cause such repair or maintenance to be performed at Lessor’s expense and to deduct the costs thereof, together with interest thereon at 10 percent per
annum, from the Rent payable to Lessor. 

  
 9. 

 7.4 Alterations–Ownership/Removal. If a conflict exists between Paragraph
7.4 of the Lease and Paragraph 50.4.3 of this Addendum, the provisions of this Addendum shall prevail. Notwithstanding any provision in this Lease to the contrary: 
 (a) Lessee shall not be required to remove any improvements and fixtures installed by Lessee in, on or about the Premises pursuant to Lessee’s repair obligation under this Lease. 

(b) Lessee’s surrender obligation shall also be subject to casualty and condemnation. 

8.3 Earthquake Insurance. As part of the insurance pertaining to the Building and improvements on the Premises, the
Insuring Party shall obtain and keep in force a policy in the name of Lessor with loss payable to Lessor and Lender insuring loss or damage to the Premises caused by earthquake, but only if required by Lender. The current Lender requires earthquake
insurance. 
 8.7 Indemnity. Except for Lessee’s negligence or willful misconduct and, subject to Paragraphs
8.6 and 8.8 of the Lease, Lessor shall indemnify, protect, defend and hold harmless Lessee and Lessee’s employees, officers, agents, directors, and shareholders, and the successors and assigns of each of the foregoing, from any and all claims,
demands, liens, judgments, penalties, attorneys’ and consultants’ fees, expenses and/or liabilities arising out of, involving, or in connection with (i) Lessor’s or Lessor’s agents breach of any covenant, representation or
warranty under this Lease and (ii) Lessor’s or Lessor’s agents negligence or willful misconduct. The mutual indemnity obligations of Lessor and Lessee under this Lease shall not, however, release the respective insurers of Lessor and
Lessee from such insurers’ obligations under any policies covering their respective insureds. 
 8.8 Exemption of
Lessor from Liability. The provisions of Section 8.8 shall in no event be interpreted to release Lessor from any liability that arises due to Lessor’s gross negligence or willful misconduct. 

9.2 Partial Damage–Insured Loss. Section 9.2 shall be deemed to end after the phrase “full force and
effect.” 
 9.5 Damage Near End of Term. The reference is in the first sentence to “one month’s
Base Rent” shall instead be deemed to be a reference to “six months’ Base Rent.” 
 9.6(c) Abatement
of Rent; Lessee’s Remedies. Notwithstanding anything to the contrary in Paragraph 9, if Lessee’s use of the Premises is substantially impaired as a consequence of a casualty, Lessee shall have the right to terminate this Lease
under the following circumstances: 
 (i) The reasonably estimated time (as determined by Lessee as of the date of the
casualty) that the substantial impairment of Lessee’s use of the Premises will continue is more than 120 days, in which case Lessee may terminate this Lease by delivery to Lessor of 

  
 10.

 
written notice within 30 days following the date of the casualty, and this Lease shall terminate upon the earlier of (1) the date on which Lessee vacates the Premises or (2) 30 days
after Lessor’s receipt of Lessee’s notice. 
 (ii) The actual duration of the substantial impairment exceeds the
greater of (1) 120 days following the date of the casualty or (2) 30 days after the reasonably estimated time (as determined by Lessee as of the date of the casualty) that the substantial impairment of Lessee’s use of the Premises
would continue, in which case Lessee may deliver to Lessor written notice that Lessee intends to terminate this Lease, and this Lease shall terminate if within 30 days after receipt of the notice, Lessor fails to complete repairs to the extent
necessary to cause the substantial impairment to be abated. 
 Additionally, if this Lease is terminated by either Lessor or Lessee pursuant to
Article 9, Lessee shall not be required to pay for any insurance deductibles as part of Lessor’s insurance cost or otherwise. 
 11. Utilities. Lessee acknowledges that utilities furnished to the Premises are not separately metered. Subject to Lessee’s reimbursement obligation below, Lessor shall pay for all
utilities furnished through a common meter. If the Project is occupied solely by Lessee, Lessee shall pay Lessor for all utilities furnished to the Project. If the Project is occupied by Lessee and one or more other tenants, Lessor shall reasonably
determine the amount of utilities used by each tenant, including Lessee, and Lessee shall pay Lessor for the amount of Lessee’s utilities usage as reasonably determined by Lessor, and such payment shall be due on the later of (1) 20 days
following Lessee’s receipt of a statement from Lessor advising Lessee of the amount due or (2) the date on which the next installment of Base Rent is due. 
 12.1(b) Lessor’s Consent Required. Notwithstanding any contrary provision contained in this Lease, Lessee may assign this Lease or sublet the Premises or any portion thereof, without
Lessor’s consent, to any entity that controls, is controlled by, or is under common control with Lessee; to any entity that results from a merger of, reorganization of, or consolidation with Lessee or to any entity that acquires substantially
all of the stock or assets of Lessee, as a going concern, with respect to the business that is being conducted in the Premises (each a “Permitted Transfer” and each such entity a “Permitted Transferee”). In
addition, a sale or transfer of the capital stock of Lessee shall be deemed a Permitted Transfer if (1) such sale or transfer occurs in connection with any bona fide financing or capitalization for the benefit of Lessee or (2) Lessee is or
becomes a publicly traded corporation. With respect to a Permitted Transfer (1) all requirements of Paragraph 12 of the Lease shall apply other than (i) the requirements for Lessor’s prior written consent and (ii) the requirement
for payment of a fee under Paragraph 12.2(e) of the Lease and (2) the Permitted Transferee shall be required to fully (i) assume the Lessee’s obligations under the Lease in the case of a Permitted Transfer constituting assignment of
Lessee’s interest under the Lease or (ii) guaranty Lessee’s obligations under the Lease in the case of any other Permitted Transfer. 
 12.1(d) Lessor’s Consent Required. Section 12.1(d) is hereby modified such that the provision ends immediately following the reference to “Paragraph 13.1(c)”. 

  
 11.

 12.3 Rent Recapture. With the exception of any Permitted Transfers, Lessee
shall pay to Lessor, as additional rent, if and when received by Lessee, 50 percent of any excess rent or other premium on the assignment, subleasing or other transfer (e.g., if the assignment, sublease or other transfer document provides that the
assignee, subtenant or other transferee thereunder is to pay any amount in excess of the rent and other charges due under this Lease, whether such premium be in the form of an increased monthly or annual rental, lump sum payment in consideration of
the assignment, sublease or other transfer or consideration of any other form, including a sale of goodwill and/or a covenant not to compete or payment for furniture, fixtures or inventory in an amount in excess of the reasonable value thereof)
after first deducting the reasonable costs incurred by Lessee in obtaining the assignment, sublease or transfer, including, without limitation, reasonable brokerage commissions and reasonable costs of leasehold improvements made by Lessee.

 13.1(c) The following proviso is hereby added to the end of Section 13.1(c): “, provided that if the nature
of Lessee’s Default is such that more than 10 days are reasonably required for its cure, then it shall not be deemed to be a Breach if Lessee commences such cure within said 10-day period and thereafter diligently prosecutes such cure to
completion.” 
 13.2 Lessor’s Remedies. In the event of any Breach by Lessee, Lessor may, at any time
thereafter, with or without notice or demand and without limiting Lessor in the exercise of any right or remedy that Lessor may have by reason of such Breach, maintain Lessee’s right to possession in which case the Lease shall continue in
effect whether or not Lessee shall have abandoned the Premises. In such event, Lessor shall be entitled to enforce all of Lessor’s rights and remedies under the Lease, including the right to recover the rent as it becomes due hereunder. The
parties acknowledge and agree that Lessor shall have the remedy under Civil Code section 1951.4, which provides in part: 
 The lessor has the remedy described in California Civil Code section 1951.4 (lessor may continue lease in effect after lessee’s breach and abandonment and recover rent as it becomes due, if lessee
has right to sublet or assign, subject only to reasonable limitations). 
 13.4 Late Charges. The late charge
described in Paragraph 13.4 is hereby changed to 5 percent, and the five-day period is changed to a five-business-day period. 

14. Condemnation. Notwithstanding anything to the contrary in Paragraph 14, in the event that a partial condemnation occurs
of such a nature that Lessee reasonably determines that such partial condemnation will materially interfere with the conduct of Lessee’s business, Lessee shall be entitled to terminate this Lease by delivering written notice to Lessor at any
time within six months following the date on which the condemning authority takes possession that initiates the material interference. If Lessee elects to terminate this Lease as provided in the preceding sentence, Lessee’s notice shall specify
the date on which termination shall occur, which date shall not be later than 90 days following Lessor’s receipt of the notice. In the event of either a partial or total condemnation, Lessee shall be entitled to any condemnation award or
payment made under threat of condemnation for loss of goodwill, moving costs, the unamortized portion 

  
 12.

 
of any tenant improvements made at the expense of Lessee, and loss of Lessee’s personal property and trade fixtures. 
 16(c) Financial Statement. Lessor shall not request financial statements of Lessee pursuant to Paragraph 16.2 more frequently than once every six months during the term hereof. Lessee’s
obligations are limited to its existing or published financial statements. 
 20. Limitation of Liability. The
limitation of liability set forth in Section 20 shall not apply in the event Lessor fails to deliver the Security Deposit to a transferee or assignee as set forth in Section 17 of the Lease. 

23. Notices. The provisions of Section 23 of the Lease shall not apply to any notices that are required to be served
by Lessor as a condition precedent to the initiation of a special proceeding for unlawful detainer. Any notices required to be served as a condition precedent to the initiation of a special proceeding for unlawful detainer (including any notices
under Section 13.1 of the Lease) shall be served in accordance with Code of Civil Procedure section 1162 as such section may be subsequently amended, repealed or replaced. With respect to all other notices, the parties acknowledge and agree
that, in addition to the manner of delivery provided in Section 23 of the Lease, notices may be delivered by Federal Express or other similar overnight delivery service that provides evidence of receipt. If notice is delivered by Federal
Express or such other overnight delivery service, the notice shall be deemed delivered as of the date shown by the evidence of receipt. 
 30. Attornment and Nondisturbance. Lessee acknowledges that the Subordination, Nondisturbance and Attornment Agreement attached hereto as Exhibit 2 is in form and content acceptable to
Lessee and constitutes a commercially reasonable nondisturbance agreement within the meaning of Section 30.3 of the Lease. 

31. Attorney’s Fees. Lessor shall further be entitled to recover reasonable attorney’s fees incurred in
connection with any hearing or motion for assumption or rejection of the Lease under Title 11 of the United States Code. Lessee shall be further entitled to recover reasonable attorney’s fees in connection with any hearing or adversary
proceedings related to this Lease in any bankruptcy case filed by or against Lessor. 
 32. Lessor’s Access.
Notwithstanding the provisions of Section 32, Lessor shall provide Lessee with at least 48 hours’ prior actual notice before entering the Premises. In the event of an emergency, the determination of which shall require Lessor to be
reasonable, Lessor shall use its best efforts to provide Lessee with notice reasonable in such situation. In the event of any entry by Lessor onto the Premises, Lessor shall comply with Lessee’s reasonable security requirements and shall use
reasonable efforts not to interfere with the conduct of Lessee’s business. 
 34. Signage. All signs placed
in the exterior of the Premises and/or upon the Building shall be subject to Lessor’s prior written approval, which shall not be unreasonably withheld or delayed. 

  
 13.

 50. Lessee’s Work. 

50.1 Approval of Lessee’s Plans, Specifications and Contractor. Within the earlier of (1) one year following
execution of the Lease or (2) 180 days following funding of the sale of Lessee’s Series C Preferred Stock, Lessee shall cause to be prepared and delivered to Lessor (1) preliminary space plan drawings and (2) preliminary
specifications for the improvements, fixtures and equipment to be installed into the Premises. Within five business days following Lessor’s receipt of the preliminary plans and specifications, Lessor shall provide to Lessee approval of such
preliminary plans and specifications unless Lessor has a reasonable and material objection thereto. Within 90 days following Lessor’s approval of the preliminary plans and specifications, Lessee shall cause to be prepared and delivered to
Lessor (1) working plans that are sufficiently detailed in order to apply for and obtain a building permit for the interior improvements to the Premises that shall be based upon the preliminary plans previously approved by Lessor and
(2) final specifications for the improvements, fixtures and equipment to be installed into the Premises that shall be based upon the preliminary specifications previously approved by Lessor. Within five business days following Lessor’s
receipt of the working plans and specifications, Lessor shall approve such plans and specifications unless Lessor has a reasonable and material objection thereto. Following Lessor’s approval of the working plans and specifications, Lessee shall
submit the working plans and specifications to the Building Inspection Department of the City of San Diego for the purpose of obtaining a building permit for the construction of the work described in the working plans and specifications (hereinafter
“Lessee’s Work”). If, during the course of construction of Lessee’s Work, Lessee determines that it is necessary or desirable to make a material change to the working plans and specifications, then such proposed change
shall be first submitted to Lessor for Lessor’s review and approval, which shall not be unreasonably withheld or delayed. Prior to commencement of Lessee’s Work, Lessee shall submit to Lessor the name, telephone number, license number and
contact representative for the general contractor that Lessee intends to use to accomplish Lessee’s Work. Within three business days following Lessor’s receipt of such information concerning the proposed general contractor, Lessor shall
approve Lessee’s selection of the general contractor unless Lessor has a reasonable and material objection thereto. If Lessor’s lender that is furnishing all or a portion of the funds for Lessor’s Allowance requires similar rights of
approval of the plans, specifications and/or contractor, Lessee shall cooperate with Lessor to satisfy such lender’s reasonable requests for information and requirements for approval. 

50.2 Completion of Lessee’s Work. Following Lessor’s approval of the working plans and specifications and the
issuance by the City of San Diego of a building permit for Lessee’s Work, Lessee shall, thereafter, diligently, competently and expeditiously, complete Lessee’s Work. With the exception of Lessor’s obligations with respect to payment
of Lessor’s Allowance (defined below), Lessee shall indemnify and hold harmless Lessor from and against any and all claims, liabilities, damages, penalties, fines and costs (“Claims”) arising out of or relating to the completion of
Lessee’s Work, including, without limitation, any claims of lien for payment by any general contractor, subcontractor and/or material supplier and/or any claim for death or injury to persons and/or damage to property; provided, however, the
foregoing indemnification obligation shall exclude Claims to the extent arising from Lessor’s negligence, willful misconduct or breach of this Lease. 

  
 14.

 50.3 Lessor’s Allowance. Concurrently with Lessee’s delivery to
Lessor of (1) a building permit for Lessee’s Work and (2) written evidence that Lessee has received in Lessee’s bank account at least $20,000,000.00 from the sale of Series C Preferred Stock, Lessor shall deliver to Lessee
$100,000.00 (“Lessor’s Allowance”) to be used to pay a portion of the cost of Lessee’s Work. 
 50.4
Special Provisions Re Lessee’s Work. With respect to Lessee’s Work, Lessor and Lessee further agree: 

50.4.1 Interior Accessibility Requirements. To the extent required to obtain a building permit to perform Lessee’s
Work, Lessee shall be responsible for installing into the interior of the Building all improvements that may be required to comply with Americans with Disabilities Act and/or any other similar laws concerning accessibility. Lessor shall, at
Lessor’s sole cost and expense, be responsible for compliance with any such laws as they pertain to the exterior parking areas, walkways, and driveways of the Premises and entrances to the Building. 

50.4.2 Roof. In the course of performing Lessee’s Work, Lessee shall be responsible to repair any penetrations made
to the roof of the Building. Lessee shall not do anything that may cause the protections under Lessor’s roof warranty to be reduced or terminated. 
 50.4.3 Improvements Surrendered upon Expiration/Termination of Lease. All of Lessee’s Work shall, upon expiration or termination of the Lease, be surrendered to Lessor and shall become
Lessor’s property and in no event shall Lessee have any obligation to remove Lessee’s Work upon surrender of the Premises. Lessee acknowledges and agrees that any fume hoods, laboratory benches, laboratory sinks, and similar systems
installed by Lessee, if any, shall not constitute Lessee’s fixtures that Lessee is entitled to remove upon the expiration or termination of the Lease. Lessor agrees that as to the portion of Lessee’s Work that is in the nature of general
office and conference room improvements, Lessee shall not be obligated to remove such improvements and restore the Premises upon expiration or termination of this Lease. Lessor reserves the right, upon expiration or termination of this Lease, to
require Lessee to remove any alterations made by Lessee to the laboratory portion of the Premises and restore such laboratory space to the condition delivered to Lessee on the Commencement Date. 

51. Lessor’s Warranty. Lessor hereby warrants that it is the fee owner of the Premises, that it has authority to enter
into this Lease, and that it shall take all actions necessary, at its expense, to defend Lessee’s rights to possession of the Premises. 
 52. Delivery of Financial Statements. Within 30 days following Lessor’s request therefor, Lessee shall deliver to Lessor a copy of Lessee’s most recently prepared audited financial
statement. Within 20 days following Lessor’s written request therefor, Lessee shall deliver to Lessor Lessee’s most recently prepared unaudited financial statement as maintained by Lessee for the period commencing at the beginning of the
then-current fiscal year. As used herein, the team “financial statement” shall mean a detailed balance sheet and detailed statement of income and expenses prepared in accordance with generally accepted accounting principals

  
 15.

 
and otherwise in the manner Lessee customarily prepares such documents. Lessee’s obligations hereunder are subject to the provisions of Section 16(c) of this Addendum above. 

53. Lender’s Consent and Nondisturbance. The obligations of Lessor and Lessee under the Lease are conditioned upon
receipt by Lessor, on or before September 15, 2004, of (1) written approval from Aegon (i.e., Lessor’s existing lender) (“Aegon”) of the terms of this Lease and (2) a nondisturbance agreement signed by Aegon in a
form reasonably acceptable to Lessee. If on or before September 15, 2004, Aegon fails to deliver written approval of this Lease and a signed nondisturbance agreement reasonably acceptable to Lessee, then the following shall apply: 

53.1 At any time after September 15, 2004, either party may deliver to the other party written notice of intention to terminate this
Lease (“a Termination Notice”). 
 53.2 If Lessee delivers to Lessor a Termination Notice, then this Lease will
terminate unless, with 15 days following receipt of the Termination Notice, (1) Aegon delivers written approval of this Lease and a signed nondisturbance agreement reasonably acceptable to Lessee and (2) Lessor delivers to Lessee a written
waiver of Lessor’s right to deliver a Termination Notice. 
 53.3 If Lessor delivers to Lessee a Termination Notice, then
this Lease will terminate unless, within 15 days following receipt of the Termination Notice, (1) Aegon delivers written approval of this Lease and (2) Lessee delivers to Lessor a written waiver of Lessee’s right to deliver a
Termination Notice. 
 54. Interpretation. Except as the context may otherwise require, references to “the
Lease” or “this Lease” shall mean collectively (1) the Standard Industrial/Commercial Multi-Tenant Lease dated July 22, 2004, by and between Lessee and Lessor and all exhibits attached thereto and (2) this
Addendum. 
  

									
	Lessor:	 		 	Lessee:
			
	LMC-Sorrento Investment Company, LLC,	 		 	Ambit Biosciences Corporation,
	a California limited liability company	 		 	a Delaware corporation
					
	By	 	 /s/ Lee M Chesnut
	 		 	By	 	 /s/ M Salka

									
		 	      Lee M. Chesnut, Manager	 		 	                     Print Name	 	 M Salka

									
		 		 		 	  Title	 	 CEO

 Schedule of Exhibits 

 

			
	Exhibit 1	  	Diagram Depicting the Unit
	Exhibit 2	  	Subordination, Nondisturbance and Attornment Agreement

  
 16.

 Exhibit 1 

Diagram Depicting the Unit 
 [TO BE ADDED] 

  
 Exhibit, Page
1 of 1 

 Exhibit 2 
 RECORDING REQUESTED BY: 
 WHEN RECORDED MAIL TO: 

 
  
 For Recorder’s Use Only                     

Subordination, Nondisturbance and Attornment Agreement 

This Agreement is made and entered into this     day of
                    ,             , by and
among                     (1)
                                         
                                       
(“Tenant”),
(2)                                        
                                        
(“Lender”), and (3)
                                         
                                        
(“Landlord”). 
 Recitals 
 WHEREAS, Landlord executed a Lease (“the Lease”) dated as of
                    ,         , in favor of Tenant, covering a certain demised premises therein
described that is (1) commonly known as
                                         
                                       , California
                     (“the Demised Premises”), and (2) a portion of certain real property legally described as:

 (said parcel of real estate being referred to herein as the “Property”), 

WHEREAS, Landlord has executed a Deed of Trust (the “Mortgage”) dated
                    , 200    , in the amount of
$                    , recorded on
                    , 200    , as Document No.
                         in the office of the San Diego County Recorder in favor of Lender, payable upon the terms and
conditions described therein, 
 WHEREAS, a condition to said loan is that said Mortgage shall unconditionally be and
remain at all times a lien or charge upon the Property, prior and superior to the Lease and to the leasehold estate created thereby, 

  
 Exhibit 2,
Page 1 of 5 

 WHEREAS, the parties hereto desire to assure Tenant’s possession and control of
the Demised Premises under the Lease upon the terms and conditions therein contained, 
 NOW, THEREFORE, for and in
consideration of the mutual covenants and premises herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and confessed by the parties hereto, the parties hereto do hereby agree as follows:

 Agreement 
 1. Subject to the nondisturbance covenants set forth herein, the Lease is and shall be subordinate to the Mortgage and to all renewals, modifications, consolidations, replacements and extensions thereof
and to all future advances made thereunder. 
 2. Should Lender become the owner of the Property, should the Property be sold by
reason of foreclosure or other proceedings brought to enforce the Mortgage that encumbers the Property, should the Property be transferred by deed in lieu of foreclosure, or should any portion of the Property be sold under a trustee’s sale, the
Lease shall continue in full force and effect as a direct lease between the then-owner of the Property covered by the Mortgage and Tenant upon and subject to all of the terms, covenants and conditions of the Lease for the balance of the term thereof
remaining, including any extensions therein provided. Subject to Lender (or the then-owner of the Property) not disturbing Tenant’s right of possession, Tenant does hereby agree to attorn to Lender or to any such owner as its landlord after
Tenant’s receipt of written notice from Lender, and Lender hereby agrees that it will accept such attornment. 
 3.
Notwithstanding any other provision of this Agreement, Lender shall not be (a) liable for any default of any landlord under the Lease (including Landlord), except that Lender agrees to cure any default of Landlord that is continuing as of the
date Lender forecloses the Property, which shall be the earliest to occur of (1) delivery of a trustee’s deed following a nonjudicial foreclosure, (2) delivery of a marshal’s deed upon sale of the property following entry of
judgment in a judicial foreclosure, and/or (3) delivery of a deed in lieu of foreclosure, within 30 days from the date Tenant delivers written notice to Lender of such continuing default, unless such default is of such a nature to reasonably
require more than 30 days to cure and then Lender shall be permitted such additional time as is reasonably necessary to effect such cure, provided Lender commences such cure within such 30-day period and, thereafter, diligently and continuously
proceeds to cure such default, (b) subject to any offsets or defenses that have accrued prior to the date of foreclosure as defined above, unless Tenant shall have delivered to Lender written notice of the default that gave rise to such offset
or defense and permitted Lender the same right to cure such default as permitted Landlord under the Lease; (c) bound by any rent that Tenant may have paid under the Lease more than one month in advance, (d) bound by any amendment or
modification of the Lease hereafter made without Lender’s prior written consent, and (e) responsible for the return of any security deposit delivered to Landlord under the Lease and not subsequently received by Lender. 

4. If Lender sends written notice to Tenant to direct its rent payments under the Lease to Lender instead of Landlord, then Tenant agrees
to follow the instructions set forth in such written instructions and deliver rent payments to Lender; however, Landlord and Lender agree that 

  
 Exhibit 2,
Page 2 of 5 

 
Tenant shall be credited under the Lease for any rent payments sent to Lender pursuant to such written notice. 
 5. All notices that may be or are required to be sent under this Agreement shall be in writing and sent by Federal Express (or similar overnight delivery service) or first-class, certified U.S. mail,
postage prepaid, return receipt requested, and sent to the party at the address appearing below or such other address as any party shall hereafter inform the other party by written notice given as set forth above: 

 

							
	TENANT:	 	  
	 	
		 	  
	 	
		 	  
	 	
		 	Attention	 	  
	 	
			
	LANDLORD:	 	  
	 	
		 	  
	 	
		 	  
	 	
		 	Attention	 	  
	 	
			
	LENDER:	 	  
	 	
		 	  
	 	
		 	  
	 	
		 	  
	 	
		 	Attention	 	  
	 	

 6. Said Mortgage shall not cover or encumber or be construed as subjecting in any manner to the lien
thereof any of Tenant’s improvements or trade fixtures, furniture, equipment or other personal property at any time placed or installed in the Premises. In the event the Property or any part thereof shall be taken for public purposes by
condemnation or transfer in lieu thereof or the same are damaged or destroyed, the rights of the parties to any condemnation award or insurance proceeds shall be determined and controlled by the applicable provisions of the Lease. 

7. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their successors in interest, heirs and assigns
and any subsequent owner of the Property secured by the Mortgage. 
 8. The parties to this Agreement waive the right to jury
trial with respect to any claim or cross-claim arising out of or relating to this Agreement. 

  
 Exhibit 2,
Page 3 of 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as
of the day and year first above written. 
  

									
	LENDER:	 		 	TENANT:
			
	  
	 		 	  

					
	By	 	  
	 		 	By	 	  

									
	Print Name	 	  
	 		 	    Print Name	 	  

									
	Title	 	  
	 		 	Title	 	  

				
		 		 		 	LANDLORD:
				
		 		 		 	  

					
		 		 		 	By	 	  

									
		 		 		 	   Print Name	 	  

									
		 		 		 	Title	 	  

  
 Exhibit 2,
Page 4 of 5 

					
	State of California	  	)	  	
		  	)	  	ss.
	County of San Diego	  	)	  	

 On
                    , 200    , before me, the undersigned, a notary public in and for said county and state,
personally appeared
                                        ,
personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that such person executed the same in his/her authorized capacity and that by
his/her signature on the instrument, the person or entity upon whose behalf such person acted executed the instrument. 
 WITNESS my hand and
official seal. 
  

			
	  
	  	

  

					
	State of California	  	)	  	
		  	)	  	ss.
	County of San Diego	  	)	  	

 On
                    , 200    , before me, the undersigned, a notary public in and for said county and state,
personally appeared
                                        ,
personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that such person executed the same in his/her authorized capacity and that by
his/her signature on the instrument, the person or entity upon whose behalf such person acted executed the instrument. 
 WITNESS my hand and
official seal. 
  

			
	  
	  	

  

					
	State of California	  	)	  	
		  	)	  	ss.
	County of San Diego	  	)	  	

 On
                    , 200    , before me, the undersigned, a notary public in and for said county and state,
personally appeared
                                        ,
personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that such person executed the same in his/her authorized capacity and that by
his/her signature on the instrument, the person or entity upon whose behalf such person acted executed the instrument. 
 WITNESS my hand and
official seal. 
  

			
	  
	  	

  
 Exhibit 2,
Page 5 of 5 

 First Amendment to Lease 

This Amendment, dated February 24th, 2005, is executed by (1) LMC-Sorrento Investment Company, LLC, a California limited liability company
(“Lessor”), and (2) Ambit Biosciences Corporation, a Delaware corporation (“Lessee”). This Amendment is executed with reference to the following facts: 

A. On or about July 22, 2004, Lessor and Lessee executed that certain Standard Industrial/Commercial Multi-Tenant Lease—Net
(“the Lease”) pertaining to space in a building commonly known as 4215 Sorrento Valley Road, San Diego, California 92121. 
 B. By this Amendment, Lessor and Lessee desire to amend the Lease, as provided below. 
 In consideration of the above recitals and the mutual agreements stated below, the parties agree: 
 1. Expansion of Premises. Commencing March 1st, 2005 (“the Effective Date”), the Premises is enlarged to consist of 39,050 rentable square feet. As expanded, the usable floor area of the Premises is diagrammatically depicted on
Exhibit 1 attached hereto. 
 2. Additional Security Deposit. Concurrently with the execution of this Amendment, Lessee
shall deliver to Lessor $24,593.92, which shall be added to the amount of the Security Deposit (i.e., when the $24,593.92 additional amount is added to the existing $61,316.08 to the Security Deposit, the total Security Deposit will be $85,910.00).

 3. Increase to Lessee’s Share of Common Area Operating Expenses. Lessee’s Share, as defined in Paragraph 1.6
of the Lease is increased to 71.10 percent. 
 4. Adjustment to Base Rent. Commencing on the Effective Date, the schedule
of Base Rent in Paragraph 1.5.1 of the Lease shall be replaced by the following: 
  

					
	 Applicable Period
	  	Monthly Base Rent	 
		
	 March
	  			
	 February 1, 2005 to July 31, 2005
	  	$	85,910.00	  
	 August 1, 2005 to July 31, 2006
	  	$	89,346.40	  
	 August 1, 2006 to July 31, 2007
	  	$	92,920.26	  
	 August 1, 2007 to July 31, 2008
	  	$	96,637.07	  
	 August 1, 2008 to July 31, 2009
	  	$	100,502.55	  

 5. Lender’s Approval. Lessor’s and Lessee’s obligations under
this Amendment are conditioned upon receipt by Lessor, on or before April 30th, 2005, of written approval of Aegon (i.e., Lessor’s existing lender) (“Aegon”) of the terms of this Amendment. If on or before April 30th, 2005, Aegon fails to deliver written approval of this Amendment,
then the following shall apply: 

  
 1 

 5.1 At any time after April 30th, 2005, either party may deliver to the other party written notice of
intention to terminate this Amendment (“the Termination Notice”). 
 5.2 If either party delivers a Termination
Notice, then this Amendment will terminate unless, within 15 days following receipt of the Termination Notice, Aegon delivers written approval of this Amendment. 
 6. General Provisions. Lessor and Lessee further agree: 
 6.1
Lessee’s Representations. In connection with the execution of this Amendment, Lessee hereby represents to Lessor: 

6.1.1 Lessor is not in Default and has not been in Default in the performance of Lessor’s obligations under the Lease, and, to the
best of Lessee’s actual knowledge, no condition exists that with the passage of time or delivery of notice or both would constitute a Default by Lessor under the terms of the Lease. 

6.1.2 Lessee has no right, claim, or action for recovery against Lessor, except as provided in Paragraph 5 of the Lease pertaining to
the Security Deposit. 
 6.1.3 Lessee has not initiated any insolvency proceeding and has no present intent to initiate any
insolvency proceeding. 
 6.2 Confirmation. Except as modified by this Amendment, the Lease is hereby ratified and
confirmed. 
 6.3 Defined Terms. Defined (capitalized) terms used in this Amendment shall have the same meanings as in
the Lease. 
  

									
	LMC-Sorrento Investment Company, LLC,	 		 	Ambit Biosciences Corporation,
	a California limited liability company	 		 	a Delaware corporation
					
	By	 	 /s/ Lee M. Chesnut
	 		 	By	 	 /s/ M. Scott Salka

									
		 	Lee M. Chesnut, Manager	 		 	Print name	 	 M SCOTT SALKA

									
		 		 		 	Title	 	 CEO

 Schedule of Exhibits 

Exhibit 1        Diagram of Premises as Expanded 

  
 2 

 Second Amendment to Lease 

This Amendment, dated November 1st, 2005, is executed by (1) LMC-Sorrento Investment Company, LLC, a California limited liability company
(“Lessor”), and (2) Ambit Biosciences Corporation, a Delaware corporation (“Lessee”). This Amendment is executed with reference to the following facts: 

A. On or about July 22, 2004, Lessor and Lessee executed that certain Standard Industrial/Commercial Multi-Tenant Lease–Net
(“the Lease”) pertaining to space in a building commonly known as 4215 Sorrento Valley Road, San Diego, California 92121. 
 B. Said Lease was first amended on or about February 24, 2005. 
 C. By this
Amendment, Lessor and Lessee desire to further amend the Lease, as provided below. 
 In consideration of the above recitals and
the mutual agreements stated below, the parties agree: 
 1. Expansion of Premises. Commencing
November 1st, 2005 (“the Effective
Date”), the Premises is enlarged to consist of 47,417 rentable square feet. As expanded, the usable floor area of the Premises is diagrammatically depicted on Exhibit 2 attached hereto. 

2. Additional Security Deposit. Concurrently with the execution of this Amendment, Lessee shall deliver to Lessor $18,407.40,
which shall be added to the amount of the Security Deposit (i.e., when the $18,407.40 additional amount is added to the existing $85,910.00 to the Security Deposit, the total Security Deposit will be $104,317.40). 

3. Increase to Lessee’s Share of Common Area Operating Expenses. Lessee’s Share, as defined in Paragraph 1.6 of the
Lease is increased to 86.41 percent. 
 4. Adjustment to Base Rent. Commencing on the Effective Date, the schedule of
Base Rent in Paragraph 1.5.1 of the Lease shall be replaced by the following: 
  

					
	 Applicable Period
	  	Monthly Base Rent	 
		
	 November 1, 2005 to February 28, 2006
	  	$	89,424.50	  
	 March 1, 2006 to July 31, 2006
	  	$	108,584.93	  
	 August 1, 2006 to July 31, 2007
	  	$	112,852.46	  
	 August 1, 2007 to July 31, 2008
	  	$	117,119.99	  
	 August 1, 2008 to July 31, 2009
	  	$	121,861.69	  

 5. Lender’s Approval. Lessor’s and Lessee’s obligations under
this Amendment are conditioned upon receipt by Lessor, on or before March 1st, 2006, of written approval of Aegon (i.e., Lessor’s existing lender) (“Aegon”) of the teens of this Amendment. If on or before March

  
 1 

 
1st,
2006, Aegon fails to deliver written approval of this Amendment, then the following shall apply: 
 5.1 At
any time after March 1st, 2006, either party may
deliver to the other party written notice of intention to terminate this Amendment (“the Termination Notice”). 

5.2 If either party delivers a Termination Notice, then this Amendment will terminate unless, within 15 days following receipt of the
Termination Notice, Aegon delivers written approval of this Amendment. 
 6. General Provisions. Lessor and Lessee
further agree: 
 6.1 Lessee’s Representations. In connection with the execution of this Amendment, Lessee hereby
represents to Lessor: 
 6.1.1 Lessor is not in Default and has not been in Default in the performance of Lessor’s
obligations under the Lease, and, to the best of Lessee’s actual knowledge, no condition exists that with the passage of time or delivery of notice or both would constitute a Default by Lessor under the terms of the Lease. 

6.1.2 Lessee has no right, claim, or action for recovery against Lessor, except as provided in Paragraph 5 of the Lease pertaining to
the Security Deposit. 
 6.1.3 Lessee has not initiated any insolvency proceeding and has no present intent to initiate any
insolvency proceeding. 
 6.2 Confirmation. Except as modified by this Amendment, the Lease is hereby ratified and
confirmed. 
 6.3 Defined Terms. Defined (capitalized) terms used in this Amendment shall have the same meanings as in
the Lease. 
  

									
	LMC-Sorrento Investment Company, LLC,	 		 	Ambit Biosciences Corporation,
	a California limited liability company	 		 	a Delaware corporation
					
	By	 	 /s/ Lee M. Chesnut
	 		 	By	 	 /s/ M. Salka

									
		 	Lee M. Chesnut, Manager	 		 	Print name	 	 M SALKA

									
		 		 		 	Title	 	 CEO

 Schedule of Exhibits 

Exhibit 2        Diagram of Premises as Expanded 

  
 2 

 THIRD AMENDMENT TO STANDARD INDUSTRIAL/COMMERCIAL MULTI- 

TENANT LEASE – NET 
 THIS THIRD AMENDMENT TO STANDARD INDUSTRIAL/COMMERCIAL MULTI-TENANT LEASE – NET (this “Amendment”) is entered into as of this 19 day of June, 2008 (the “Execution
Date”), by and between BMR-SORRENTO VALLEY LLC, a Delaware limited liability company (“Lessor,” as successor-in-interest to LMC-Sorrento Investment Company, LLC (“Original Lessor”)), and AMBIT BIOSCIENCES
CORPORATION, a Delaware corporation (“Lessee”). 
 RECITALS 

A. WHEREAS, Original Lessor and Lessee entered into that certain Standard Industrial/Commercial Multi-Tenant Lease–Net dated as of
July 22, 2004 (the “Original Lease”), as amended by that certain Addendum to Lease dated as of July 22, 2004 (the “Addendum”), that certain First Amendment to Lease dated as of February 24, 2005 (the
“First Amendment”), and that certain Second Amendment to Lease dated as of November 1, 2005 (the “Second Amendment” and, collectively with the Original Lease, the Addendum and the First Amendment, and as the
same may have been further amended, supplemented or otherwise modified from time to time, the “Lease”), whereby Lessee leases certain premises (the “Original Premises”) from Lessor at 4215 Sorrento Valley Boulevard in San
Diego, California (the “Building”); 
 B. WHEREAS, Lessee desires to expand its premises and extend the term of
the Lease; and 
 C. WHEREAS, Lessor and Lessee desire to modify and amend the Lease only in the respects and on the conditions
hereinafter stated. 
 AGREEMENT 
 NOW, THEREFORE, Lessor and Lessee, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and
intending to be legally bound, agree as follows: 
 1. Definitions. For purposes of this Amendment, capitalized terms
shall have the meanings ascribed to them in the Lease unless otherwise defined herein. The term “Amended Lease” means the Lease, as amended by this Amendment. 

2. Premises. Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, approximately seven
thousand five hundred seven (7,507) rentable square feet of additional premises, as depicted on Exhibit A attached hereto (the “Additional Premises”). From and after the Additional Premises Rent Commencement Date (as
defined below), the term “Premises,” as used in the Amended Lease, shall mean fifty-four thousand nine hundred twenty-four (54,924) rentable square feet, consisting of the Original Premises plus the Additional Premises. The
second (2nd) sentence of Section 1.2(a)
of the Original Lease is hereby deleted and of no further force or effect. The second (2nd) and third (3rd) sentences of Section 1.2 of the Addendum are hereby replaced in their entirety with the following: “The “Unit” and the “Premises” consist of the
Project.” 
 3. Parking. Section 1.2(b) of the Original Lease is hereby replaced in its entirety with
the following: “Parking: All vehicle parking spaces at the Project. (See also Paragraph 2.6).” 
 4.
Common Area Operating Expenses. From and after the Additional Premises Rent Commencement Date (as defined below), Lessee’s Share of Common Area Operating Expenses equals one hundred percent (100%). 

5. Term. 

a. Extension Term. The Expiration Date is hereby changed to July 31, 2014. The period from August 1, 2008, through
July 31, 2014, is referred to herein as the “Extension Period.” 
 b. Option Term.
Section 1.3.2 of the Addendum is hereby replaced in its entirety with the following: 

  
 Form dated
5/3/07         

 1.3.2 Lessee shall have the option to further extend the term of the Amended Lease by
five (5) years as to the entire Premises (and no less than the entire Premises) upon the following terms and conditions. Any extension of the term pursuant to the option shall be on all the same terms and conditions as the Amended Lease, except
as follows: 
 a. The option is not assignable separate and apart from the Lease. 

b. The option is conditional upon Lessee giving Lessor written notice of its election to exercise the option at least
twelve (12) months prior to the end of the expiration of the Extension Term. Time shall be of the essence as to Lessee’s exercise of the option. Lessee assumes full responsibility for maintaining a record of the deadlines to exercise the
option. Lessee acknowledges that it would be inequitable to require Lessor to accept any exercise of the option after the date provided for in this paragraph. 

c. Notwithstanding anything contained in this Section 1.3.2, Lessee shall not have the right to exercise
the option: 
 i. During the time commencing from the date Lessor delivers to Lessee a written notice that
Lessee is in monetary Default under any provisions of the Amended Lease and continuing until Lessee has cured the specified monetary Default to Lessor’s reasonable satisfaction; or 

ii. At any time after any Breach (provided, however, that, for purposes of this
Section 1.3.2(c)(ii), Lessor shall not be required to provide Lessee with notice of such Breach) and continuing until Lessee cures any such Breach, if such Breach is susceptible to being cured; or 

iii. In the event that Lessee has monetarily Defaulted in the performance of its obligations under the Amended Lease
two (2) or more times and a service or late charge has become payable under Section 13.4 of the Amended Lease for each of such monetary Defaults during the twelve (12)-month period immediately prior to the date that Lessee intends
to exercise the option, whether or not Lessee has cured such monetary Defaults. 
 d. The period of time
within which Lessee may exercise the option shall not be extended or enlarged by reason of Lessee’s inability to exercise such option because of the provisions of Section 1.3.2(c). 

e. All of Lessee’s rights under the provisions of the option shall terminate and be of no further force or effect
even after Lessee’s due and timely exercise of the option if after such exercise, but prior to the commencement date of the new term, (i) Lessee fails to pay to Lessor a monetary obligation of Lessee for a period of twenty (20) days
after written notice from Lessor to Lessee, (b) Lessee fails to commence to cure a Default (other than a monetary Default) within thirty (30) days after the date Lessor gives notice to Lessee of such Default or (c) Lessee has
Defaulted under the Lease two (2) or more times and a service or late charge under Section 13.4 of the Lease has become payable for any such Default, whether or not Lessee has cured such Defaults. 

c. Provided it is not then in Default of its obligations under the Amended Lease, Lessee shall have the right to terminate the Amended
Lease as of July 31, 2011, or July 31, 2012, in each case upon twelve (12) months’ prior written notice to Lessor. 
 i. If Lessee elects to terminate the Amended Lease as of: 
 A. July 31,
2011, then Lessee shall pay to Lessor as a termination fee six (6) months of the July, 2011, Base Rent and operating expenses, plus the unamortized cost of 

  
 2 

 
Tenant Improvements (as defined below) and unamortized leasing commissions as of the date of termination. 
 B. If Lessee elects to terminate the Amended Lease as of July 31, 2012, then Lessee shall pay to Lessor as a termination fee three (3) months of the July, 2012, Base Rent and operating expenses,
plus the unamortized cost of Tenant Improvements (as defined below) and unamortized leasing commissions as of the date of termination. 
 ii. If Lessee elects to terminate the Amended Lease in accordance with this Section 5(c), then Lessor shall have the right to match an offer by any other landlord or potential landlord made to
Lessee to lease available space in a project owned by such landlord (“ROFR”). Lessee shall deliver any such proposals to Lessor within five (5) business days after Lessee receives any such proposal (a “Notice of
Offer”). Following Lessor’s receipt of any Notice of Offer, Lessor shall respond to Lessee in writing within five (5) business days and inform Lessee whether Lessor (or an affiliate of Lessor owning a building in the Sorrento
Valley area) will match, with respect to the Premises (or such other building), the terms contained in the Notice of Offer. 

A. If Lessor timely notifies Lessee that Lessor (or its affiliate) elects to lease the Premises (or other premises) on the terms and
conditions set forth in the Notice of Offer, then Lessor shall lease the Premises to Lessee upon the terms and conditions set forth in the Notice of Offer, and Lessor (or its affiliate, as applicable) and Lessee shall use good faith efforts to
execute a new lease or an amendment to the Amended Lease reflecting such terms and conditions within fifteen (15) days after Lessee’s receipt of notice of Lessor’s election. In the event that Landlord (or its affiliate, as applicable)
and Tenant execute such new lease or amendment to the Amended Lease, Lessee shall not be required to pay any termination fees in accordance with this Section 5(c). 

B. If Lessor notifies Lessee that Lessor (and its affiliates) elects not to lease the Premises (or other premises) on the terms and
conditions set forth in the Notice of Offer, or if Lessor fails to notify Lessee of Lessor’s election within the five (5) business day period described above, then Lessee shall have the right to consummate a lease of the other
landlord’s premises on the same material terms as set forth in the Notice of Offer following Lessor’s (and its affiliates’) election (or deemed election) not to lease the Premises to Lessee. If Lessee does not lease such other
premises within ninety (90) days after Lessor’s election (or deemed election) not to lease the Premises (or other premises) to Lessee, then the ROFR shall be fully reinstated, and Lessee shall not thereafter lease any other such premises
without again complying with the procedures set forth in this Section 5(c)(ii). 
 6. Base Rent.
Notwithstanding anything in the Lease to the contrary, as of the commencement of the Extension Period, Base Rent shall equal Two and 50/100 Dollars ($2.50) per rentable square foot per month, increasing by three percent (3%) on each annual
anniversary of the commencement of the Extension Period. 
 a. Commencement. Lessee shall pay to Lessor Base Rent for the
Additional Premises commencing on the date (the “Additional Premises Rent Commencement Date”) that is the earlier of (a) Tenant’s occupancy of the Additional Premises for the Agreed Use and (b) September 1, 2008;
provided that Lessee shall have the right to access the Additional Premises prior to such date for the purpose of constructing the Tenant Improvements. 
 b. Determination of Base Rent for First Lease Year of Option Period. 
 i. In the first (1st) sentence of Section 1.5.3 of the Addendum, the words “for the fifth Lease Year of the Original Term” are hereby replaced with the words “at the expiration of the
Extension Term.” 
 ii. In the last paragraph of Section 1.5.3 of the Addendum, the words (A) “104
percent” are hereby replaced in each instance where they appear with the words “one hundred three percent (103%)” and (B) “in effect during the fifth Lease Year” and “payable during the fifth Lease Year” are
hereby replaced in each instance where they appear with the words “in effect at the expiration of the Extension Term.” 

  
 3 

 c. Determination of Base Rent for Subsequent Lease Years of Option
Period. In the first (1st) sentence of
Section 1.5.4 of the Addendum, the number “1.04” is hereby replaced with the words “one and three hundredths (1.03).” The second (2nd) sentence of Section 1.5.4 of the Addendum is hereby deleted and of no further force or effect.

 7. Broker. Lessee represents and warrants that it has not dealt with any broker or agent in the negotiation for or the
obtaining of this Amendment, other than Grubb & Ellis | BRE Commercial (“Broker”), and agrees to indemnify, defend and hold Lessor harmless from any and all cost or liability for compensation claimed by any such
broker or agent, other than Broker, employed or engaged by it or claiming to have been employed or engaged by it. Broker is entitled to a leasing commission in connection with the making of this Amendment, and Lessor shall pay such commission to
Broker pursuant to a separate agreement between Lessor and Broker. 
 8. Condition. Lessee acknowledges that (a) it
is in possession of the Original Premises and is fully familiar with the condition of the Premises and, notwithstanding anything contained in the Amended Lease to the contrary, agrees to take the same in their condition “as is” as of the
first day of the Extension Term, and (b) Lessor shall have no obligation to alter, repair or otherwise prepare the Premises for Lessee’s occupancy for the Extension Term or to pay for any improvements to the Premises, except for
Lessor’s obligations with respect to the TI Allowance (as defined below). Lessor hereby agrees that upon approval of the construction plans for the Additional Premises, Lessee shall have no obligation to return any of the Premises to the
condition the Premises were in prior to the construction of any Tenant Improvements completed by Lessee. Therefore, the last sentence of Section 50.4.3 of the Addendum is hereby deleted and of no further force or effect. 

9. Compliance. The last sentence of Section 2.3 of the Original Lease (beginning “If the
Applicable Requirements...”), Sections 2.3(a) and (c) of the Original Lease and the second
(2nd) sentence of Section 2.3 of the
Addendum are hereby deleted and of no further force or effect. 
 10. Delay in Possession. Section 3.3 of the
Addendum is hereby deleted and of no further force or effect. 
 11. Common Area Operating Expenses.
Section 4.2 of the Original Lease and Section 4.2 of the Addendum are hereby replaced in their entirety with the following: “Lessee shall pay to Lessor on the first day of each calendar month of the Extension Term and
any subsequent extension thereof, as Rent, a property management fee equal to one percent (1%) of the Base Rent due from Lessee for such month. 
 12. Security Deposit. Lessee shall deposit with Lessor as of the Execution Date an increase in the Security Deposit in the amount of Thirty-Two Thousand Nine Hundred Ninety-Two and 60/100 Dollars
($32,992.60), so that the total required Security Deposit equals One Hundred Thirty-Seven Thousand Three Hundred Ten Dollars ($137,310). The Security Deposit shall be in the form of cash. 

13. Maintenance; Repairs. 
 a. Sections 7.1 and 7.2 of the Original Lease and Section 7.2 of the Addendum are hereby deleted and of no further force or effect. 

b. The following shall be added to Section 7.3(b) of the Original Lease: “Lessee shall not need Lessor’s consent to
make any Alterations to the Premises if the Alterations to be performed do not exceed Twenty Thousand Dollars ($20,000) in value. When consent is required by Lessor, such consent shall not be unreasonably withheld and shall be deemed approved if not
given within ten (10) business days after Landlord’s receipt of all of the items required by this Section 7.3. 
 c. Lessee, at its sole cost and expense, shall maintain and keep the Premises, all improvements thereon, and all appurtenances thereto, including but not limited to sidewalks, parking areas, curbs, roads,
driveways, lighting standards, landscaping, sewers, water, gas and electrical distribution systems and facilities, drainage facilities, and all signs, both illuminated and non-illuminated that are now or hereafter on the Premises, in good condition
and in a manner consistent with the Agreed Use. Lessee shall maintain and make all repairs, replacements and improvements, 

  
 4 

 
including, without limitation, all structural, roof, HVAC, plumbing and electrical maintenance, repairs, replacements and improvements required, and shall keep the same free and clear from all
rubbish and debris; provided, however, that, with respect only to any capital repairs or improvements made to the Premises as to which the useful life is longer than the remaining Extension Period as of the date of such repair or improvement,
the cost of such repairs and improvements shall be amortized over their useful lives in accordance with generally accepted accounting principles (but in no event longer than ten (10) years) and Lessee shall be liable only for that portion of
the amortized costs corresponding to the then-remaining term of the Amended Lease, as the term may be extended from time to time. All repairs made by Lessee shall be at least equal in quality to the original work, and shall be made only by a
licensed, bonded contractor approved in advance, which approval shall not be unreasonably withheld and shall be given within five (5) business days by Lessor; provided, however, that such contractor need not be bonded or approved by
Lessor if the non-structural alterations, repairs, additions or improvements to be performed do not exceed Fifty Thousand Dollars ($50,000) in value. Lessor may impose reasonable restrictions and requirements with respect to such repairs. Lessee
shall not take or omit to take any action, the taking or omission of which shall cause waste, damage or injury to the Premises. Lessee shall indemnify, save, defend (by legal counsel acceptable to Lessor) and hold harmless Lessor from and against
any and all demands, claims, liabilities, losses, costs, expenses, actions, causes of action, damages or judgments, and all reasonable expenses (including, without limitation, reasonable attorneys’ fees, charges and disbursements) incurred in
investigating or resisting the same arising out of the failure of Lessee or Lessee’s Agents to perform the covenants contained in this paragraph. “Lessee’s Agents” shall be defined to include Lessee’s officers,
employees, agents, contractors, invitees, customers and subcontractors. 
 d. Lessee shall maintain the lines designating the
parking spaces in good condition and paint the same as often as may be necessary, so that they are easily discernable at all times; resurface the parking areas as necessary to maintain them in good condition; paint any exterior portions of the
Building as necessary to maintain them in good condition; maintain the roof and landscaping in good condition; maintain sightly screens, barricades or enclosures around any waste or storage areas; and take all reasonable precautions to insure that
the drainage facilities of the roof are not clogged and are in good and operable condition at all times. 
 e. There shall be no
abatement of Rent and no liability of Lessor by reason of any injury to or interference with Lessee’s business arising from the making of any repairs, alterations or improvements in or to any portion of the Premises, or in or to improvements,
fixtures, equipment and personal property therein, unless as the result of an act of gross negligence by Lessor. 
 f. During
the term, Lessor shall not be required to maintain or make any repairs or replacements of any nature or description whatsoever to the Premises. Lessee hereby expressly waives the right to make repairs at the expense of Lessor as provided for in any
applicable laws in effect as of the Execution Date, or in any other applicable laws that may hereafter be enacted, and waives its rights under applicable laws relating to a landlord’s duty to maintain its premises in a tenantable condition.
Notwithstanding the foregoing, if Lessee shall fail within thirty (30) days after reasonable notice, to maintain or to commence and thereafter to proceed with diligence to make any repair required of it pursuant to the terms of the Amended
Lease, Lessor, without being under any obligation to do so and without thereby waiving such default by Lessee, may so maintain or make such repair and may charge Lessee for the costs thereof. Any expense reasonably incurred by Lessor in connection
with the making of such repairs may be billed by Lessor to Lessee monthly or, at Lessor’s option, immediately, and shall be due and payable within fifteen (15) days after such billing or, at Lessor’s option, may be deducted from the
Security Deposit. 
 g. Lessor and Lessor’s agents shall have the right to enter upon the Premises or any portion thereof
for the purposes of performing any repairs or maintenance Lessor is permitted to make pursuant to the Amended Lease, and of ascertaining the condition of the Premises or whether Lessee is observing and performing Lessee’s obligations hereunder,
all without unreasonable interference from Lessee or Lessee’s Agents. Except for emergency maintenance or repairs, the right of entry contained in this paragraph shall be exercisable at reasonable times, at reasonable hours and on reasonable
notice. 

  
 5 

 h. Lessee shall promptly after the full execution thereof provide to Landlord copies of all
repair and maintenance contracts entered into by Lessee related to the Property. Lessor shall have the right to inspect the Premises upon twenty-four (24) hours’ prior notice to Lessee. 

14. Insurance. 
 a. Section 8.3(a) of the Original Lease is hereby replaced in its entirety with the following: “Lessor shall maintain insurance for the Premises in amounts equal to full replacement cost
(exclusive of the costs of excavation, foundations and footings, and without reference to depreciation taken by Lessor upon its books or tax returns) or such lesser coverage as Lessor may elect, provided that such coverage shall not be less
than ninety percent (90%) of such full replacement cost or the amount of such insurance the Lender, if any, requires Lessor to maintain, providing protection against any peril generally included within the classification “Fire and Extended
Coverage,” together with insurance against sprinkler damage (if applicable), vandalism and malicious mischief. Lessor, subject to availability thereof, shall further insure, if Lessor deems it appropriate, coverage against flood, environmental
hazard, earthquake, loss or failure of building equipment, rental loss during the period of repairs or rebuilding, workmen’s compensation insurance and fidelity bonds for employees employed to perform services. Notwithstanding the foregoing,
Lessor may, but shall not be deemed required to, provide insurance for any improvements installed by Lessee or that are in addition to the standard improvements customarily furnished by Lessor, without regard to whether or not such are made a part
of or are affixed to the Building. In addition, Lessor shall carry public liability insurance with a single limit of not less than One Million Dollars ($1,000,000) for death or bodily injury, or property damage with respect to the Premises. Lessee
shall pay within thirty (30) days after receipt of an invoice therefor from Lessor the costs of any premiums or deductibles related to insurance carried by Lessor pursuant to this Lease.” 

b. Section 8.3 of the Addendum is hereby deleted and of no further force or effect. 

15. Damage or Destruction. The following is added as Section 9(e) to the Original Lease: ““Hazardous Substance
Condition” means the occurrence or discovery of a condition involving the presence of, or a contamination by, a Hazardous Substance in, on or under the Premises.” 

16. Real Property Taxes. 
 a. Section 10.2 of the Original Lease is hereby replaced in its entirety with the following: “Lessor shall pay the Real Property Taxes applicable to the Project, and Lessee shall
reimburse Lessor within thirty (30) days after receipt from Lessor of an invoice therefor.” 
 b. Sections 10.3
and 10.4 of the Original Lease are hereby deleted and of no further force or effect. 
 17. Utilities.
Section 11 of the Original Lease and Section 11 of the Addendum are hereby replaced in their entirety with the following: “Lessee shall contract directly with utility providers for the Premises and shall pay for all
utilities furnished to the Project directly to the providers thereof.” 
 18. Lessee’s
Work. The second (2nd) sentence of
Section 50.4.1 of the Addendum is hereby terminated and of no further force or effect. 
 19. Lender’s
Approval. Section 53 of the Addendum, Section 5 of the First Amendment and Section 5 of the Second Amendment are hereby deleted and of no further force or effect. 

20. Tenant Improvements. 
 a. Lessee shall cause to be constructed tenant improvements in the Additional Premises and perform capital improvements at the Project (the “Tenant Improvements”) at a cost to Lessor not
to exceed (a) Four Hundred Twenty-One Thousand Dollars ($421,000) (the “Base TI Allowance”) plus (b) if properly requested by Lessee pursuant to this Section 20(a), Two Hundred Fifty Thousand Dollars ($250,000)
(the “Additional TI Allowance”), for a total of Six Hundred Seventy-One Thousand Dollars ($671,000). The Base TI Allowance, together with Additional TI 

  
 6 

 
Allowance (if properly requested by Lessee pursuant to this Section 20(a)), shall be referred to herein as the “TI Allowance.” The TI Allowance may be applied to the costs
of (o) construction, (p) space planning, architect, engineering and other related services performed by third parties unaffiliated with Lessee, (q) building permits and other taxes, fees, charges and levies by governmental authorities
for permits or for inspections of the Tenant Improvements, and (r) costs and expenses for labor, material, equipment and fixtures. In no event shall the TI Allowance be used for (v) the cost of work that is not authorized by plans approved
in advance in writing by Lessor (the “Approved Plans”), which approval shall not be unreasonably withheld by Lessor and shall be given or withheld within ten (10) business days after Lessor’s receipt of the plans from
Tenant, (w) payments to Lessee or any affiliates of Lessee, (x) the purchase of any furniture, personal property or other non-building system equipment, (y) costs resulting from any Default by Lessee of its obligations under the
Amended Lease or (z) costs that are recoverable by Lessee from a third party (e.g., insurers, warrantors, or tortfeasors). 

b. Base Rent shall be increased to include the amount of the Additional TI Allowance disbursed by Lessor in accordance with this
Amendment amortized over the Extension Term at a rate of nine percent (9%). Lessee shall have until December 31, 2009 (the “TI Deadline”), to expend the unused portion of the TI Allowance, after which date Lessor’s
obligation to fund such costs shall expire. The amount by which Base Rent shall be increased shall be determined (and Base Rent shall be increased accordingly) as of the Additional Premises Rent Commencement Date and, if such determination does not
reflect use by Lessee of all of the Additional TI Allowance, shall be determined again as of the TI Deadline, with Lessee paying (on the next succeeding day that Base Rent is due under the Amended Lease (the “TI True-Up Date”)) any
underpayment of the further adjusted Base Rent for the period beginning on the Additional Premises Rent Commencement Date and ending on the TI True-Up Date. 
 c. Lessor shall not be obligated to expend any portion of the Additional TI Allowance until Lessor shall have received from Lessee a letter in the form attached as Exhibit B hereto executed by an
authorized officer of Lessee. 
 d. Promptly after completion of the Tenant Improvements, Lessee shall deliver to Lessor
(i) a certificate of occupancy for the Additional Premises suitable for the Agreed Use and (ii) a Certificate of Substantial Completion in the form of the American Institute of Architects document G704, executed by the project architect
and the general contractor. 
 e. Lessee shall execute and deliver to Lessor written acknowledgment of the actual Additional
Premises Rent Commencement Date within ten (10) days after Lessee takes occupancy of the Additional Premises for the Agreed Use, in the form attached as Exhibit C hereto. Failure to execute and deliver such acknowledgment, however, shall
not affect the Additional Premises Rent Commencement Date or Lessor’s or Lessee’s liability hereunder. Failure by Lessee to obtain validation by any medical review board or other similar governmental licensing of the Additional Premises
required for the Agreed Use by Lessee shall not serve to extend the Additional Premises Rent Commencement Date. 
 f. Prior to
entering upon the Additional Premises, Lessee shall furnish to Lessor evidence satisfactory to Lessor that insurance coverages required of Lessee under the provisions of Section 8 of the Original Lease are in effect, and such entry shall
be subject to all the terms and conditions of the Amended Lease other than the payment of Base Rent or Lessee’s Share of Common Area Operating Expenses. 
 g. Lessee, at its sole cost and expense (except for the Base TI Allowance and, if properly requested by Tenant, the Additional TI Allowance), shall complete the Tenant Improvements in all respects in
accordance with the provisions of the Amended Lease. The Tenant Improvements shall be deemed completed at such time as Lessee, at its sole cost and expense (except for the Base TI Allowance and, if properly requested by Tenant, the Additional TI
Allowance) shall furnish to Lessor (i) evidence satisfactory to Lessor that (A) the Tenant Improvements have been completed and paid for in full (which shall be evidenced by the architect’s certificate of completion and the general
contractor’s and each Major Subcontractor’s and Major Supplier’s final waivers and releases of liens), (B) the Tenant Improvements have been accepted by Lessor, (C) any and all liens related to the Tenant Improvements have
either been discharged of record (by payment, bond, order 

  
 7 

 
of a court of competent jurisdiction or otherwise) or waived by the party filing such lien and (D) no security interests relating to the Tenant Improvements are outstanding, (ii) all
certifications and approvals with respect to the Tenant Improvements that may be required from any governmental authority and any board of fire underwriters or similar body for the use and occupancy of the Premises, (c) certificates of
insurance required by the Amended Lease to be purchased and maintained by Lessee, (d) a certificate from Lessee’s architect certifying that all work described in the Approved Plans is substantially complete, which certificate may be in the
form of AIA Document G704, and (e) complete drawing print sets and electronic CADD flies on disc of all contract documents for work performed by their architect and engineers in relation to the Tenant Improvements. As used herein, the term
“Major Subcontractor” shall mean any subcontractor who performs work in connection with the Tenant Improvements for compensation in excess of Ten Thousand Dollars ($10,000), and the term “Major Supplier” shall mean
any material supplier who supplies materials in connection with the Tenant Improvements for a purchase price in excess of Twenty-Five Thousand Dollars ($25,000). Lessor and Lessee shall mutually agree upon the selection of the architect, engineer,
general contractor and major subcontractors, and Lessor and Lessee shall each participate in the review of the competitive bid process. 
 h. Lessee assumes sole responsibility and liability for any and all injuries or the death of any persons, including Lessee’s contractors and subcontractors and their respective employees, and for any
and all damages to property caused by, resulting from or arising out of any act or omission on the part of Lessee, Lessee’s contractors or subcontractors, or their respective employees in the prosecution of the Tenant Improvements. Lessee
agrees to indemnify, defend, protect and save free and harmless Lessor and Lessor’s affiliates, agents and employees from and against all losses and expenses, including reasonable attorneys’ fees and expenses, that Lessor may incur as the
result of claims or lawsuits due to, because of, or arising out of any and all such injuries, death or damage, whether real or alleged, and Lessee and Lessee’s contractors and subcontractors shall assume and defend at their sole cost and
expense all such claims or lawsuits; provided, however, that nothing contained in this Section 20(h) shall be deemed to indemnify or otherwise hold Lessor harmless from or against liability caused by the gross negligence or
willful misconduct of Lessor or any agent, contractor or employee of Lessor. Any deficiency in design or construction of the Tenant Improvements shall be solely the responsibility of Lessee, notwithstanding the fact that Lessor may have approved of
the same in writing. All material and equipment furnished by Lessee as the Tenant Improvements shall be new or “like new” and the Tenant Improvements shall be performed in a first-class, workmanlike manner. 

i. Upon submission by Lessee to Lessor of (a) a statement (an “Advance Request”) setting forth the total amount
requested, (b) a detailed summary of the Tenant Improvements performed using AIA standard form Application for Payment (G 702) executed by the general contractor and by the architect, and (c) lien releases from the general contractor and
each Major Subcontractor and Major Supplier with respect to the portion of the Tenant Improvements corresponding to the Advance Request, then Lessor shall, within thirty (30) days following receipt by Lessor of an Advance Request and the
accompanying materials required by this Section 20(i), advance to Lessee the amount set forth in such Advance Request; provided, however, that, with respect to any Advance Requests subject to the limits set forth in
Section 20(a), Lessor shall advance to Lessee the requested amount as limited by Section 20(a). 
 21.
No Default. Lessee represents, warrants and covenants that, to the best of Lessee’s knowledge, Lessor and Lessee are not in default of any of their respective obligations under the Lease and no event has occurred that, with the passage
of time or the giving of notice (or both) would constitute a default by either Lessor or Lessee thereunder. 
 22. Effect of
Amendment. Except as modified by this Amendment, the Lease and all the covenants, agreements, terms, provisions and conditions thereof shall remain in full force and effect and are hereby ratified and affirmed. The covenants, agreements, terms,
provisions and conditions contained in this Amendment shall bind and inure to the benefit of the parties hereto and their respective successors and, except as otherwise provided in the Lease, their respective assigns. In the event of any conflict
between the terms contained in this Amendment and the Lease, the terms herein contained shall supersede and control the obligations and liabilities of the parties. From and after the 

  
 8 

 
date hereof, the term “Lease” as used in the Lease shall mean the Lease, as modified by this Amendment. 
 23. Miscellaneous. This Amendment becomes effective only upon execution and delivery hereof by Lessor and Lessee. The captions of the paragraphs and subparagraphs in this Amendment are inserted and
included solely for convenience and shall not be considered or given any effect in construing the provisions hereof. All exhibits hereto are incorporated herein by reference. 
 24. Counterparts. This Amendment may be executed in one or more counterparts that, when taken together, shall constitute one original. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 9 

 IN WITNESS WHEREOF, Lessor and Lessee have hereunto set their hands as of the date and year
first above written, and acknowledge that they possess the requisite authority to enter into this transaction and to execute this Amendment. 
  

			
	LESSOR:
	
	 BMR-SORRENTO VALLEY LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Greg Tubushkin

		
	Name:	 	 Greg Tubushkin

		
	Title:	 	 VP, Chief Accounting Officer

	
	LESSEE:
	
	 AMBIT BIOSCIENCES CORPORATION,
 a Delaware corporation

		
	By:	 	 /s/ Donald R. Myll

		
	Name:	 	 Donald R. Myll

		
	Title:	 	 CFO

 EXHIBIT A 
 ADDITIONAL PREMISES 

 EXHIBIT B 
 FORM OF ADDITIONAL TI ALLOWANCE ACCEPTANCE LETTER 
 [LESSEE
LETTERHEAD] 
 BMR-Sorrento Valley LLC 

17190 Bernardo Center Drive 
 San Diego,
California 92128 
 Attn: General Counsel/Real Estate 
 [Date] 
  

	 	Re:	Additional TI Allowance  

 To Whom It May
Concern: 
 This letter concerns that certain Third Amendment to Standard Industrial/Commercial Multi-Tenant Lease—Net
dated as of June [  ], 2008 (the “Amendment”), between BMR-Sorrento Valley LLC (“Lessor”) and Ambit Biosciences Corporation (“Lessee”). Capitalized terms not otherwise defined herein shall
have the meanings given them in the Amendment. 
 Lessee hereby notifies Lessor that it wishes to exercise its right to utilize
the Additional TI Allowance pursuant to Section 20(c) of the Amendment. 
 If you have any questions, please do not
hesitate to call [            ] at ([        ]) [        ]-
[        ]. 
  

	
	Sincerely,
	
	[Name]
	[Title of Authorized Signatory]

  

	cc:	Greg Lubushkin 

 John Wilson

 Kevin Simonsen 

  
 B-1

 EXHIBIT C 
 ACKNOWLEDGEMENT OF ADDITIONAL PREMISES 
 RENT COMMENCEMENT DATE

 THIS ACKNOWLEDGEMENT OF ADDITIONAL PREMISES RENT COMMENCEMENT DATE is entered into as of
[            ], 20[    ], with reference to that certain Third Amendment to Standard Industrial/Commercial Multi-Tenant Lease – Net dated as of June
[    ], 2008 (the “Amendment”), by AMBIT BIOSCIENCES CORPORATION, a Delaware corporation (“Lessee”), in favor of BMR-Sorrento Valley LLC, a Delaware limited liability company
(“Lessor”). All capitalized terms used herein without definition shall have the meanings ascribed to them in the Amendment. 
 Lessee hereby confirms the following: 
 1. Lessee accepted possession of the Additional Premises
on [    ], 2008. 
 2. All conditions of the Amended Lease to be performed by Lessor as a condition to the full
effectiveness of the Amended Lease have been satisfied, and Lessor has fulfilled all of its duties in the nature of inducements offered to Lessee to lease the Additional Premises. 
 3. In accordance with the provisions of Section 20 of the Amendment, the Additional Premises Rent Commencement Date is
[            ], 20[    ]. 
 4. Lessee commenced
occupancy of the Additional Premises for the Agreed Use on [            ], 20[    ]. 
 5. The Amended Lease is in full force and effect, and the same represents the entire agreement between Lessor and Lessee concerning the Premises[, except
[            ]]. 
 6. Lessee has no existing defenses against the
enforcement of the Amended Lease by Lessor, and there exist no offsets or credits against Rent owed or to be owed by Lessee. 
 7. The
obligation to pay Rent is presently in effect and all Rent obligations on the part of Lessee under the Amended Lease with respect to the Additional Premises commenced to accrue on
[            ], 20[    ]. 
 8. The undersigned
Lessee has not made any prior assignment, transfer, hypothecation or pledge of the Amended Lease or of the rents thereunder or sublease of the Premises or any portion thereof. 
 IN WITNESS WHEREOF, Lessee has executed this Acknowledgment of Additional Premises Rent Commencement Date as of the date first written above. 

 

			
	LESSEE:
	
	 AMBIT BIOSCIENCES CORPORATION,
 a Delaware corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 C-1

 FOURTH AMENDMENT TO 

STANDARD INDUSTRIAL/COMMERCIAL MULTI-TENANT LEASE—NET 

THIS FOURTH AMENDMENT TO STANDARD INDUSTRIAL/COMMERCIAL MULTI-TENANT LEASE -NET (this “Amendment”)
is entered into as of this 17th day of July, 2012
(“Effective Date”), by and between BMR-SORRENTO VALLEY BOULEVARD LP, a Delaware limited partnership (“Landlord,” as successor-in-interest to LMC-Sorrento Investment Company, LLC (“Original
Landlord”)), and AMBIT BIOSCIENCES CORPORATION, a Delaware corporation (“Tenant”). 
 RECITALS

 A. WHEREAS, Original Landlord and Tenant entered into that certain Standard Industrial/Commercial Multi-Tenant
Lease—Net dated as of July 22, 2004, as amended by that certain Addendum to Lease dated as of July 22, 2004 (the “Addendum”), that certain First Amendment to Lease dated as of February 25, 2004, that certain
Second Amendment to Lease dated as of November 1, 2005 and that certain Third Amendment to Standard Industrial/Commercial Multi-Tenant Lease-Net dated as of June 19, 2008 (“Third Amendment,” and, collectively, as the same
may have been further amended, amended and restated, supplemented or modified from time to time, the “Lease”), whereby Tenant leases certain premises located at 4215 Sorrento Valley Boulevard, San Diego, California
(“Premises”); 
 B. WHEREAS, on July 29, 2011, by written notice to Landlord (the “Early
Termination Notice”), Tenant exercised its right to terminate the Lease as of July 31, 2012 (the “Early Termination Date”), as allowed by the Lease. As a condition to such termination, Tenant owes Landlord the sum of
$897,763.94 (the “Termination Payment”); 
 C. WHEREAS, Tenant has since requested that Landlord extend the
term of the Lease beyond the Early Termination Date and concurrently enter into a new lease (the “New Lease”) for premises located at 11080 Roselle Street, San Diego, California (the “New Premises”); and 

D. WHEREAS, Landlord and Tenant desire to modify and amend the Lease according to the respects and on the conditions hereinafter stated.

 AGREEMENT 
 NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
and intending to be legally bound, agree as follows: 
 1. Definitions. For purposes of this Amendment, capitalized terms
shall have the meanings ascribed to them in the Lease unless otherwise defined herein. The Lease, as amended by this Amendment, is referred to herein as the “Amended Lease.” 

 2. Expiration of Amended Lease. Notwithstanding the Early Termination Notice or
anything in the Amended Lease to the contrary, Landlord and Tenant hereby agree that the Amended Lease shall be reinstated and amended to change the Expiration Date to the Term Commencement Date of the New Lease (as defined therein). From the Early
Termination Date until the Expiration Date, Tenant shall pay a reduced rate of Base Rent in the amount of Fifty-Four Thousand Nine Hundred Twenty-Four Dollars ($54,924) per month plus all other Project-related costs (but excluding the property
management fee set forth in Section 4.2 of the Lease, real property taxes and Landlord’s insurance). Except as otherwise modified below in Section 3, the foregoing reinstatement and amendment shall not affect
Tenant’s obligation to make the Termination Payment to Landlord. 
 3. Termination Payment. Provided Landlord
and Tenant have fully executed the New Lease by July 18, 2012, Landlord agrees to reduce the amount of the Termination Payment payable by Tenant and to allow Tenant to pay such reduced Termination Payment in installments as set forth below.
Tenant’s obligations under this Section shall survive the expiration or earlier termination of the term. Tenant shall make the following payments to Landlord on the date specified, without notice, demand or offset, at the address for payment of
Rent set forth in the Lease: 
  

					
	 Date Due:
	  	Payment Amount:	 
	 Upon execution of this Amendment
	  	$	137,310.00	* 
	 First anniversary of the Expiration Date
	  	$	117,226.97	  
	 Second anniversary of the Expiration Date
	  	$	117,226.97	  

  

	*	 Landlord and Tenant agree that Landlord shall retain 100% of the Security Deposit held by Landlord under the Amended Lease in satisfaction of the
payment due upon execution of this Amendment, and Tenant waives all rights to a return of the Security Deposit under the Amended Lease or by law upon expiration of the term. If, as of the Expiration Date, the Security Deposit is not sufficient to
satisfy the first (1st) installment of the
Termination Payment, Tenant shall pay Landlord the shortfall no later than the Expiration Date. 

 4.
Maintenance and Repairs. Notwithstanding any provisions to the contrary in Section 13 of the Third Amendment, from and after the Effective Date, Landlord and Tenant acknowledge and agree that Tenant shall not have the obligation
to repair or replace any large capital expenditure items, including without limitation, the roof, structural elements, boilers, condensers, and HVAC units at the Premises. Landlord and Tenant agree that it shall be sufficient for Tenant to make such
limited repairs as necessary to maintain the habitability of the Premises until the Expiration Date; it being understood that Landlord intends to undertake a major renovation of the Premises after the Expiration Date. Notwithstanding the foregoing,
nothing herein is intended to transfer the obligation for such repairs or replacement to Landlord during the remaining the period from the Effective Date through the Expiration Date, and Tenant continues to assume the obligation of addressing any
maintenance or repair items through the Expiration Date subject to the limitations in this provision. 

  
 2 

 5. Condition of Premises. On the Expiration Date, subject to Section 4
above, Tenant shall surrender possession of the Premises to Landlord broom clean; in as good and sanitary order, condition and repair as when received, reasonable wear and tear excepted; and otherwise in accordance with the terms of the Amended
Lease, including (without limitation) Section 6.5 of the Addendum. 
 6. Default. Tenant represents, warrants
and covenants that, to the best of Tenant’s knowledge, Landlord and Tenant are not in default of any of their respective obligations under the Lease and no event has occurred that, with the passage of time or the giving of notice (or both)
would constitute a default by either Landlord or Tenant thereunder. Notwithstanding that the Expiration Date may have then occurred, failure of Tenant to make any payment due hereunder when required (including (without limitation) any installment of
the Termination Payment) or any default by Tenant under the New Lease shall be a default under the Amended Lease entitling Landlord to exercise all rights and remedies available to Landlord at law or in equity or under the Amended Lease, (including
(without limitation) voiding (at its election and in its sole and absolute discretion) the early expiration of the Amended Lease and consequently changing the Expiration Date back to July 31, 2014; and enforcing all of Tenant’s obligations
under the Amended Lease (including (without limitation) the payment of Rent). This Section 6 shall survive the expiration or earlier termination of the term. 
 7. Broker. Tenant represents and warrants that it has not dealt with any broker or agent in the negotiation for or the obtaining of this Amendment and agrees to indemnify, defend and hold Landlord
harmless from any and all cost or liability for compensation claimed by any such broker or agent employed or engaged by it or claiming to have been employed or engaged by it. 
 8. Notices. Tenant confirms that, notwithstanding anything in the Amended Lease to the contrary, notices delivered to Tenant pursuant to the Amended Lease should be sent to: 

Ambit Biosciences Corporation 
 4125 Sorrento Valley Boulevard 
 San Diego, CA 92121 

Attn: Mr. Alan Furhman, CFO 
 8. Effect of Amendment. Except as modified by this Amendment, the Lease and all the covenants, agreements, terms, provisions and conditions thereof shall remain in full force and effect and are
hereby ratified and affirmed. The covenants, agreements, terms, provisions and conditions contained in this Amendment shall bind and inure to the benefit of the parties hereto and their respective successors and, except as otherwise provided in the
Amended Lease, their respective assigns. In the event of any conflict between the terms contained in this Amendment and the Lease, the terms herein contained shall supersede and control the obligations and liabilities of the parties. From and after
the date hereof, the term “Lease” as used in the Lease shall mean the Lease, as modified by this Amendment. 

  
 3 

 9. Miscellaneous. This Amendment becomes effective only upon execution and delivery
hereof by Landlord and Tenant. The captions of the paragraphs and subparagraphs in this Amendment are inserted and included solely for convenience and shall not be considered or given any effect in construing the provisions hereof. All exhibits
hereto are incorporated herein by reference. Submission of this instrument for examination or signature by Tenant does not constitute a reservation of or option for a lease, and shall not be effective as a lease, lease amendment or otherwise until
execution by and delivery to both Landlord and Tenant. 
 10. Counterparts. This Amendment may be executed in one or more
counterparts, each of which, when taken together, shall constitute one and the same document. 
 [REMAINDER OF THIS PAGE
INTENTIONALLY LEFT BLANK] 

  
 4 

 IN WITNESS WHEREOF, Landlord and Tenant have hereunto set their hands as of the date and
year first above written, and acknowledge that they possess the requisite authority to enter into this transaction and to execute this Amendment. 
 LANDLORD: 
 BMR-SORRENTO VALLEY BOULEVARD LP, 

a Delaware limited partnership 
  

			
	 By:
	 	/s/ Kevin M. Simonsen
	 Name:
	 	 Kevin M. Simonsen

	 Title:
	 	 VP, Real Estate Counsel

 TENANT: 
 AMBIT BIOSCIENCES CORPORATION, 
 a Delaware corporation 

 

			
	 By:
	 	 /s/ Alan Furhman

	 Name:
	 	 Alan Furhman

	 Title:
	 	 CFOExhibit 10.22

 Exhibit 10.22 
 LEASE 
 by and between 

BMR-SORRENTO WEST LP, 
 a Delaware limited partnership 
 and 

AMBIT BIOSCIENCES CORPORATION, 
 a Delaware corporation 

 LEASE 

THIS LEASE (this “Lease”) is entered into as of this 17th day of July, 2012 (the “Execution Date”), by and
between BMR-SORRENTO WEST LP, a Delaware limited partnership (“Landlord”), and AMBIT BIOSCIENCES CORPORATION, a Delaware corporation (“Tenant”). 

RECITALS 
 A. WHEREAS, Landlord owns certain real property (the “Property”) and the improvements on the Property located at 11080, 11100, 11120 and 11180 Roselle Street and 11055, 11095, 11111,
11125 and 11175 Flintkote Avenue and known as the “Coast9 Project”; and 
 B. WHEREAS, Landlord wishes to lease to
Tenant, and Tenant desires to lease from Landlord, 19,440 rentable square feet of office and laboratory space (the “Premises”) located in the building known as 11080 Roselle Street (the “Building”), which Building
is part of the Coast9 Project, pursuant to the terms and conditions of this Lease, as detailed below. 
 AGREEMENT

 NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, agree as follows: 
 1. Lease
of Premises. Effective on the Term Commencement Date, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises, as shown on Exhibit A attached hereto, including exclusive shafts, cable runs, mechanical spaces
and rooftop areas, for use by Tenant in accordance with the Permitted Use (as defined below) and no other uses. The Property and all landscaping, parking facilities, private drives and other improvements and appurtenances related thereto, including
the Building and other buildings located on the Property, are hereinafter collectively referred to as the “Project.” All portions of the Project that are for the non-exclusive use of tenants of the Project, including the amenities
building to be constructed at the Project (the “Amenities Building”), driveways, sidewalks, parking areas, landscaped areas, service corridors, stairways, elevators, public restrooms and public lobbies, are hereinafter referred to
as “Common Area.” 
 2. Basic Lease Provisions. For convenience of the parties, certain basic provisions of this Lease
are set forth herein. The provisions set forth herein are subject to the remaining terms and conditions of this Lease and are to be interpreted in light of such remaining terms and conditions. 

2.1. This Lease shall take effect upon the Execution Date and, except as specifically otherwise provided within this Lease, each of the
provisions hereof shall be binding upon and inure to the benefit of Landlord and Tenant from the date of execution and delivery hereof by all parties hereto. 

 2.2. In the definitions below, each current Rentable Area (as defined below) is expressed in
rentable square footage. Rentable Area and “Tenant’s Pro Rata Shares” are all subject to adjustment as provided in this Lease. 
  

			
	 Definition or Provision
	  	 Means the Following (As of the Term

Commencement Date)

	Approximate Rentable Area of Premises	  	19,440 square feet
	Approximate Rentable Area of Building	  	19,440 square feet
	Approximate Rentable Area of Project	  	164,074 square feet
	Tenant’s Pro Rata Share of Building	  	100%
	Tenant’s Pro Rata Share of Project	  	11.85%

 2.3. Initial monthly and annual installments of Base Rent for the Premises (“Base Rent”)
starting on the Term Commencement Date, subject to adjustment under this Lease: 
  
  

																	
	 Dates
	  	Square Feet of
Rentable Area	 	  	Base Rent per Square Foot
of Rentable Area	 	  	Monthly
Base Rent	 	  	Annual
Base Rent	 
	 Months 1-12
	  	 	19,440	  	  	$	2.60	  	  	$	50,544.00	  	  	$	606,528.00	  
	 Months 13-24
	  	 	19,440	  	  	$	2.68	  	  	$	52,099.20	  	  	$	625,190.40	  
	 Months 25-36
	  	 	19,440	  	  	$	2.76	  	  	$	53,654.40	  	  	$	643,852.80	  
	 Months 37-48
	  	 	19,440	  	  	$	2.84	  	  	$	55,209.60	  	  	$	662,515.20	  
	 Months 49-60
	  	 	19,440	  	  	$	2.93	  	  	$	56,959.20	  	  	$	683,510.40	  
	 Months 61-72*
	  	 	19,440	  	  	$	3.02	  	  	$	58,708.80	  	  	$	704,505.60	  

  

	*	See Section 4.4 below regarding potential additional months added to the Term. 

2.4. Estimated Term Commencement Date: March 1, 2013 
 2.5. Estimated Term Expiration Date: August 31, 2018. 

  
 2 

 2.6. Security Deposit: $63,201.60, subject to increase in accordance with the terms hereof

 2.7. Permitted Use: Office, research and development and laboratory and other uses commonly related thereto (including use of
an animal vivarium), in conformity with all federal, state, municipal and local laws, codes, ordinances, rules and regulations of Governmental Authorities (as defined below), committees, associations, or other regulatory committees, agencies or
governing bodies having jurisdiction over the Premises, the Building, the Property, the Project, Landlord or Tenant, including both statutory and common law and hazardous waste rules and regulations (“Applicable Laws”) 

 

					
	 2.8. Address for Rent Payment:             P.O. Box
511635

                   
      Los Angeles, CA 90051-8190
	  	
		
	2.9. Address for Notices to Landlord:	  	 BMR-Sorrento West LP

17190 Bernardo Center Drive
 San Diego,
California 92128
 Attn: Vice President, Real Estate Counsel

		
	2.10. Address for Notices to Tenant:	  	 Ambit Biosciences Corporation
 11080 Roselle Street
 San Diego, California 92121

Attn: Mr. Alan Fuhrman, CFO

		
	2.11. Address for Invoices to Tenant:	  	 Ambit Biosciences Corporation
 11080 Roselle Street
 San Diego, California 92121

Attn: Mr. Alan Fuhrman, CFO

 2.12. The following Exhibits are attached hereto and incorporated herein by reference: 

 

			
	Exhibit A	  	Premises
	Exhibit B	  	Work Letter
	Exhibit C	  	Acknowledgement of Term Commencement Date and Term Expiration Date
	Exhibit D	  	[Intentionally omitted]
	Exhibit E	  	Form of Letter of Credit
	Exhibit F	  	Rules and Regulations
	Exhibit G	  	[Intentionally omitted]
	Exhibit H	  	Tenant’s Personal Property
	Exhibit I	  	Form of Estoppel Certificate

 3. Term. The actual term of this Lease (as the same may be earlier terminated in accordance
with this Lease, the “Term”) shall commence on the actual Term Commencement Date (as defined in Article 4) and end on the date that is sixty (60) months after the actual Term Commencement Date (such date, the
“Term Expiration Date”), subject to extension as set forth in Section 4.4 below, or earlier termination of this Lease as provided herein. TENANT HEREBY WAIVES THE REQUIREMENTS OF SECTION 1933 OF THE CALIFORNIA CIVIL
CODE, AS THE SAME MAY BE AMENDED FROM TIME TO TIME. 

  
 3 

 4. Possession and Commencement Date. 

4.1. Landlord shall use commercially reasonable efforts to tender possession of the Premises to Tenant on the
Estimated Term Commencement Date, with the work (the “Tenant Improvements”) required of Landlord described in the Work Letter attached hereto as Exhibit B (the “Work Letter”) Substantially Complete (as defined below). Tenant agrees that in the event such
work is not Substantially Complete on or before the Estimated Term Commencement Date for any reason, then, so long as the SVB Lease (defined in Section 4.4 below) continues in effect, (a) this Lease shall not be void or voidable,
(b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, (c) the Term Expiration Date shall be extended accordingly (subject to Section 4.4 below) and (d) Tenant shall not be responsible for
the payment of any Base Rent or Tenant’s Share of Operating Expenses (as defined below) until the actual Term Commencement Date as described in Section 4.2 occurs. The term “Substantially Complete” or
“Substantial Completion” means that (y) the Tenant Improvements are substantially complete in accordance with the Approved Plans (as defined in the Work Letter), except for minor items or defects which can be completed or
remedied after Tenant occupies the Premises without causing substantial interference with Tenant’s use of the Premises for the Permitted Use and (z) a certificate of occupancy or a temporary certificate of occupancy (or their equivalent)
has been issued. Notwithstanding anything in this Lease (including the Work Letter) to the contrary, Landlord’s obligation to timely achieve Substantial Completion shall be subject to extension on a day-for-day basis as a result of Force
Majeure (as defined below). 
 4.2. The “Term Commencement Date” shall be the later of (a) the earlier of
(i) the day Landlord tenders possession of the Premises to Tenant with the Tenant Improvements Substantially Complete and (ii) the Estimated Term Commencement Date and (b) September 4, 2012. If possession is delayed by action of
Tenant, then the Term Commencement Date shall be the date that the Term Commencement Date would have occurred but for such delay. Tenant shall execute and deliver to Landlord written acknowledgment of the actual Term Commencement Date and the Term
Expiration Date within ten (10) days after Tenant takes occupancy of the Premises, in the form attached as Exhibit C hereto. Failure to execute and deliver such acknowledgment, however, shall not affect the Term Commencement Date or
Landlord’s or Tenant’s liability hereunder. Failure by Tenant to obtain validation by any medical review board or other similar governmental licensing of the Premises required for the Permitted Use by Tenant shall not serve to extend the
Term Commencement Date. 
 4.3. Landlord shall permit Tenant to enter upon the Premises up to thirty (30) days prior to the
Term Commencement Date for the purpose of installing improvements or the placement of personal property. To facilitate Tenant’s early access, Landlord shall use reasonable efforts to provide Tenant with written notice when Landlord estimates
that approximately thirty (30) days remain prior to Substantial Completion of the Premises; provided, however, that Landlord shall have no liability to Tenant for failure to give at least thirty (30) days’ prior notice of
Substantial Completion. Tenant shall furnish to Landlord evidence satisfactory to Landlord that insurance coverages required of Tenant under the provisions of Article 23 are in effect, and such entry shall be subject to all the terms and
conditions of this Lease other than the payment of Base Rent or Tenant’s Share of Operating Expenses (as defined below); and provided, further, that if the Term Commencement Date is delayed due to such early access, then the Term
Commencement Date shall be the date that the Term Commencement Date would have occurred but for such delay. 

  
 4 

 4.4. The “Term Expiration Date” shall be the date that
is last day of the sixtieth (60th) month following
the Term Commencement Date; provided, however, that the Term Expiration Date shall be extended by one (1) month for each month or portion thereof during which Tenant occupies the premises located at 4215 Sorrento Valley Road pursuant to
that certain Standard Industrial/Commercial Multi-Tenant Lease—Net dated as of July 22, 2004, as amended by that certain Addendum to Lease dated July 22, 2004, that certain First Amendment to Lease dated as of February 25, 2004,
that certain Second Amendment to Lease dated as of November 1, 2005, and that certain Third Amendment to Standard Industrial/Commercial Multi-Tenant Lease-Net dated as of June 19, 2008, and by that certain Fourth Amendment to Standard
Industrial/Commercial Multi-Tenant Lease-Net executed concurrently herewith by and between Tenant and BMR-Sorrento Valley Boulevard LP (as successor-in-interest to LMC-Sorrento Investment Company, LLC), an affiliate of Landlord (collectively, the
“SVB Lease”), beyond July 31, 2012; provided, however, if Landlord fails to deliver the Premises prior to the Estimated Term Commencement Date (unless caused by Force Majeure or the negligence or willful misconduct of
Tenant or Tenant’s agents, employees or contractors), then the Term Expiration Date shall only be extended to reflect the additional months that would have been triggered if Landlord had timely delivered the Premises on the Estimated Term
Commencement Date. The Base Rent payable by Tenant during any such additional months is set forth in Section 2.3 above. 
 4.5. Compliance. At least five (5) business days prior to the Term Commencement Date, Landlord shall, at Landlord’s sole cost and expense, provide Tenant with the latest prepared Phase I
environmental assessment in Landlord’s possession (the “Entry Environmental Assessment”). Landlord shall be responsible, at its sole cost and expense (which shall not constitute an Operating Expense hereunder), for any
remediation or other costs associated with any Hazardous Materials existing on the Premises prior to the Term Commencement Date shown on the Entry Environmental Assessment. 
 5. Condition of Premises. Landlord warrants that the Premises comply with building codes that were in effect at the time that each improvement, or portion thereof, was constructed, and also with
all Applicable Laws, covenants or restrictions of record, regulations and ordinances in effect on the Term Commencement Date. Except as otherwise set forth herein, Tenant acknowledges that neither Landlord nor any agent of Landlord has made any
representation or warranty with respect to the condition of the Premises, the Building or the Project, or with respect to the suitability of the Premises, the Building or the Project for the conduct of Tenant’s business. Tenant acknowledges
that (a) it is fully familiar with the condition of the Premises and agrees to take the same in its condition “as is” as of the Term Commencement Date (subject to Substantial Completion of the Tenant Improvements) and
(b) Landlord shall have no obligation to alter, repair or otherwise prepare the Premises for Tenant’s occupancy or to pay for or construct any improvements to the Premises, except as set forth in the Work Letter. Tenant’s taking of
possession of the Premises shall, except as otherwise agreed to in writing by Landlord and Tenant, conclusively establish that the Premises, the Building and the Project were at such time in good, sanitary and satisfactory condition and repair.

  
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 6. Rentable Area. 
 6.1. The term “Rentable Area” shall reflect such areas as reasonably calculated by Landlord’s architect, as the same may be reasonably adjusted from time to time by Landlord in
consultation with Landlord’s architect to reflect changes to the Premises, the Building or the Project, as applicable. 

6.2. The Rentable Area of each Building is generally determined by making separate calculations of Rentable Area applicable to each floor
within the Building and totaling the Rentable Area of all floors within the Building. The Rentable Area of a floor is computed by measuring to the outside finished surface of the permanent outer Building walls. The full area calculated as previously
set forth is included as Rentable Area, without deduction for columns and projections or vertical penetrations, including stairs, elevator shafts, flues, pipe shafts, vertical ducts and the like, as well as such items' enclosing walls. 

6.3. The term “Rentable Area,” when applied to the Premises, is that area equal to the usable area of the Premises, plus
an equitable allocation of Rentable Area within each Building that is not then utilized or expected to be utilized as usable area, including that portion of the Building devoted to corridors, equipment rooms, restrooms, elevator lobby, atrium and
mailroom. 
 6.4. The Rentable Area of the Project is the total Rentable Area of all buildings within the Project. 

6.5. If and only if there is a change in the total Rentable Area of the Building or the Project as a result of an addition to, partial
destruction or modification of or similar cause related to the Building or the Project, which event causes a reduction or increase of the Building or the Project (as applicable) on a permanent basis, then Landlord shall cause a review of allocations
of Rentable Areas as between tenants of the Building and the Project in order to facilitate an equitable apportionment of Operating Expenses (as defined below). If such review is by a licensed architect and allocations are certified by such licensed
architect as being correct, then Tenant shall be bound by such certifications. 
 7. Rent. 

7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date the sums set forth in
Section 2.3, subject to the rental adjustments provided in Article 8 hereof. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, subject to the rental adjustments provided in Article
8 hereof, each in advance on the first day of each and every calendar month during the Term. 
 7.2. In addition to Base
Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter specified in this Lease (a) Tenant’s Share (as defined below) of Operating Expenses (as defined below), (b) the Property
Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of
Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods. Notwithstanding the foregoing, Tenant shall
not be obligated to pay any portion of Tenant’s Pro Rata Share of Operating Expenses (other than the cost of utilities servicing the Premises, which shall not be capped) in excess of Fifty Cents ($0.50) (the “PSF Cap”) per
month per square foot of Rentable Area of the Premises. 

  
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 7.3. Base Rent and Additional Rent shall together be denominated “Rent.”
Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may
from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of a thirty (30) day month
and shall be paid at the then-current rate for such fractional month. 
 8. Rent Adjustments. Base Rent shall be
subject to an annual upward adjustment of three percent (3.0%) of the then-current Base Rent, as set forth in Section 2.3. The first such adjustment shall become effective commencing on the first (1st) annual anniversary of the Term Commencement Date, and
subsequent adjustments shall become effective on every successive annual anniversary for so long as this Lease continues in effect. 
 9.
Operating Expenses. 
 9.1. As used herein, the term “Operating Expenses” shall include: 

(a) Government impositions, including property tax costs consisting of real and personal property taxes and assessments (including
amounts due under any improvement bond upon the Building or the Project (including the parcel or parcels of real property upon which the Building, the other buildings in the Project and areas serving the Building and the Project are located)) or
assessments in lieu thereof imposed by any federal, state, regional, local or municipal governmental authority, agency or subdivision (each, a “Governmental Authority”); taxes on or measured by gross rentals received from the rental
of space in the Project; taxes based on the square footage of the Premises, the Building or the Project, as well as any parking charges, utilities surcharges or any other costs levied, assessed or imposed by, or at the direction of, or resulting
from Applicable Laws or interpretations thereof, promulgated by any Governmental Authority in connection with the use or occupancy of the Project or the parking facilities serving the Project; taxes on this transaction or any document to which
Tenant is a party creating or transferring an interest in the Premises; any fee for a business license to operate an office building; and any expenses, including the reasonable cost of attorneys or experts, reasonably incurred by Landlord in seeking
reduction by the taxing authority of the applicable taxes, less tax refunds obtained as a result of an application for review thereof (the “Impositions”). Operating Expenses shall not include any net income, franchise, capital
stock, estate or inheritance taxes, or taxes that are the personal obligation of Tenant or of another tenant of the Project; and 

  
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 (b) All other costs related to the operation or maintenance of the Building and the Project
(including the Amenities Building, which shall include fair market rent for the portion of the Amenities Building used in providing services in the Amenities Building), including costs of repairs and replacements to improvements within the Project
as appropriate to maintain the Project as required hereunder, including costs of funding such reasonable reserves as Landlord, consistent with good business practice, may establish to provide for future repairs and replacements; costs of utilities
furnished to the Building and Common Areas; sewer fees; cable television; trash collection; cleaning, including windows (including those of the Amenities Building); heating; ventilation; air-conditioning; maintenance of landscaping and grounds;
maintenance of drives and parking areas; maintenance of the roof (including that of the Amenities Building), security services and devices; building supplies; maintenance or replacement of equipment utilized for operation and maintenance of the
Project; license, permit and inspection fees; sales, use and excise taxes on goods and services purchased by Landlord in connection with the operation, maintenance or repair of the Building or Project systems and equipment; telephone, postage,
stationery supplies and other expenses incurred in connection with the operation, maintenance or repair of the Project; customary third party accounting, legal and other professional fees and expenses incurred in connection with the Project; costs
of furniture, draperies, carpeting, landscaping and other customary and ordinary items of personal property provided by Landlord for use in Common Areas; costs of complying with Applicable Laws (except to the extent such costs are incurred to remedy
non-compliance as of the Term Commencement Date with Applicable Laws); costs to keep the Project in compliance with, or fees otherwise required under, any CC&Rs (as defined below); insurance premiums, including premiums for public liability,
property casualty, earthquake, terrorism and environmental coverages; portions of insured losses paid by Landlord as part of the deductible portion of a loss pursuant to the terms of insurance policies; service contracts; costs of services of
independent contractors retained to do work of a nature referenced above; and costs of compensation (including employment taxes and fringe benefits) of all persons who perform regular and recurring duties connected with the day-to-day operation and
maintenance of the Project (excluding any property manager and any persons above the level of property manager), its equipment, the adjacent walks, landscaped areas, drives and parking areas, including janitors, floor waxers, window washers,
watchmen, gardeners, sweepers, plow trucks and handymen; provided, however, that all costs of a capital nature (including capital improvements, capital replacements, capital repairs, capital equipment and capital tools) that exceed Ten
Thousand Dollars ($10,000) shall be amortized on a straight-line basis over the useful life of the improvement (as reasonably determined by Landlord, but in no event longer than seven (7) years), together with interest at six percent
(6%) on the unamortized balance. 
 (c) Notwithstanding the foregoing, Operating Expenses shall not include any leasing
commissions; expenses that relate to preparation of rental space for a tenant; expenses of initial development and construction, including grading, paving, landscaping and decorating (as distinguished from maintenance, repair and replacement of the
foregoing); legal expenses relating to the enforcement of any lease against a tenant or to other tenants; costs of repairs to the extent reimbursed by payment of insurance proceeds received by Landlord; interest upon loans to Landlord or secured by
a mortgage or deed of trust covering the Project or a portion thereof (provided that interest upon a government assessment or improvement bond payable in installments shall constitute an Operating Expense under Subsection 9.1(a));
salaries of executive officers of Landlord; depreciation claimed by Landlord for tax purposes (provided that this exclusion of depreciation is not intended to delete from Operating Expenses actual costs of repairs and replacements and
reasonable reserves in regard thereto that are provided for in Subsection 9.1(b)); any expenses to the extent paid by any tenant directly to third parties; any expenses to the extent Landlord is otherwise reimbursed by any third party, other
tenants of the Project (other than as a reimbursement of operating expenses) or insurance proceeds (provided that Landlord’s collection costs shall constitute Operating Expenses); any costs to the extent that Landlord would recover twice
for the amount of such expense incurred by Landlord; any costs incurred by Landlord due to the violation by Landlord or its employees, agents or contractors of the terms and conditions of this Lease, any other tenant lease or Applicable Laws;
penalties, fines or interest incurred as a result of Landlord’s inability or failure to make payment of Impositions or to file any tax or informational returns when due, or from Landlord’s failure to make any payment of Impositions
required to be made by Landlord hereunder before delinquency; capital expenditures for expansion of the Project; costs incurred in the sale or refinancing of the Project; any ground lease rental now or hereafter affecting the Project; costs
associated with remedying specific flood damage at the Project (other than costs related to general maintenance of any flood mitigations systems at the Project, any defensive measures implemented at the Project and any insurance deductibles all of
which shall be included as Operating Expenses); costs arising from Landlord’s charitable or political contributions; and taxes that are excluded from Operating Expenses by the last sentence of Subsection 9.1(a). To the extent that Tenant
uses more than Tenant’s Pro Rata Share of any item of Operating Expenses, Tenant shall pay Landlord for such excess in addition to Tenant’s obligation to pay Tenant’s Pro Rata Share of Operating Expenses (such excess, together with
Tenant’s Pro Rata Share, “Tenant’s Share”). 

  
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 9.2. Tenant shall pay to Landlord on the first day of each calendar month of the Term, as
Additional Rent, (a) the Property Management Fee (as defined below) and (b) subject to the PSF Cap, Landlord’s estimate of Tenant’s Share of Operating Expenses with respect to the Building and the Project, as applicable, for such
month. 
 (x) In lieu of including management costs (i.e., fees paid to third party managers or Landlord’s direct costs for
self-managing the Project) in Operating Expenses and paying Tenant’s Share thereof, Tenant shall pay a “Property Management Fee” equal to three percent (3.0%) of Base Rent due from Tenant. Tenant shall pay the Property
Management Fee in accordance with Section 9.2 with respect to the entire Term, including any extensions thereof or any holdover periods, regardless of whether Tenant is obligated to pay Base Rent, Operating Expenses or any other Rent
with respect to any such period or portion thereof. 
 (y) Within ninety (90) days after the conclusion of each calendar
year (or such longer period as may be reasonably required by Landlord), Landlord shall furnish to Tenant a statement showing in reasonable detail the actual Operating Expenses and Tenant’s Share of Operating Expenses for the previous calendar
year. Subject to the PSF Cap, any additional sum due from Tenant to Landlord shall be immediately due and payable. If the amounts paid by Tenant pursuant to this Section exceed Tenant’s Share of Operating Expenses for the previous calendar
year, then Landlord shall credit the difference against the Rent next due and owing from Tenant; provided that, if the Lease term has expired, Landlord shall accompany such statement with payment for the amount of such difference.
Landlord’s failure to furnish a reconciliation statement within six (6) months after the conclusion of each calendar year shall constitute a waiver of Landlord’s right to reconcile the Operating Expenses for that calendar year.

 (z) Any amount due under this Section for any period that is less than a full month shall be prorated (based on a thirty
(30)-day month) for such fractional month. 

  
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 9.3. Landlord’s annual statement shall be final and binding upon Tenant unless Tenant,
within thirty (30) days after Tenant’s receipt thereof, shall contest any item therein by giving written notice to Landlord, specifying each item contested and the reasons therefor; provided that Tenant shall in all events pay the
amount specified in Landlord’s annual statement, pending the results of the Independent Review and determination of the Accountant(s), as applicable and as each such term is defined below. If, during such thirty (30)-day period, Tenant
reasonably and in good faith questions or contests the correctness of Landlord’s statement of Tenant’s Share of Operating Expenses, Landlord shall provide Tenant with reasonable access to Landlord’s books and records to the extent
relevant to determination of Operating Expenses, and such information as Landlord reasonably determines to be responsive to Tenant’s written inquiries. In the event that, after Tenant’s review of such information, Landlord and Tenant
cannot agree upon the amount of Tenant’s Share of Operating Expenses, then Tenant shall have the right to have an independent public accounting firm hired by Tenant on an hourly basis and not on a contingent-fee basis (at Tenant’s sole
cost and expense) and approved by Landlord (which approval Landlord shall not unreasonably withhold or delay) audit and review such of Landlord’s books and records for the year in question as directly relate to the determination of Operating
Expenses for such year (the “Independent Review”). Landlord shall make such books and records available at the location where Landlord maintains them in the ordinary course of its business. Landlord need not provide copies of any
books or records. Tenant shall commence the Independent Review within fifteen (15) days after the date Landlord has given Tenant access to Landlord’s books and records for the Independent Review. Tenant shall complete the Independent
Review and notify Landlord in writing of Tenant’s specific objections to Landlord’s calculation of Operating Expenses (including Tenant’s accounting firm’s written statement of the basis, nature and amount of each proposed
adjustment) no later than sixty (60) days after Landlord has first given Tenant access to Landlord’s books and records for the Independent Review. Landlord shall review the results of any such Independent Review. The parties shall endeavor
to agree promptly and reasonably upon Operating Expenses taking into account the results of such Independent Review. If, as of sixty (60) days after Tenant has submitted the Independent Review to Landlord, the parties have not agreed on the
appropriate adjustments to Operating Expenses, then the parties shall engage a mutually agreeable independent third party accountant with at least ten (10) years’ experience in commercial real estate accounting in the San Diego area (the
“Accountant”). If the parties cannot agree on the Accountant, each shall within ten (10) days after such impasse appoint an Accountant (different from the accountant and accounting firm that conducted the Independent Review)
and, within ten (10) days after the appointment of both such Accountants, those two Accountants shall select a third (which cannot be the accountant and accounting firm that conducted the Independent Review). If either party fails to timely
appoint an Accountant, then the Accountant the other party appoints shall be the sole Accountant. Within ten (10) days after appointment of the Accountant(s), Landlord and Tenant shall each simultaneously give the Accountants (with a copy to
the other party) its determination of Operating Expenses, with such supporting data or information as each submitting party determines appropriate. Within ten (10) days after such submissions, the Accountants shall by majority vote select
either Landlord’s or Tenant’s determination of Operating Expenses. The Accountants may not select or designate any other determination of Operating Expenses. The determination of the Accountant(s) shall bind the parties. If the parties
agree or the Accountant(s) determine that the Operating Expenses actually paid by Tenant for the calendar year in question exceeded Tenant’s obligations for such calendar year, then Landlord shall, at Tenant’s option, either
(a) credit the excess to the next succeeding installments of estimated Additional Rent or (b) pay the excess to Tenant within thirty (30) days after delivery of such results. If the parties agree or the Accountant(s) determine that
Tenant’s payments of Operating Expenses for such calendar year were less than Tenant’s obligation for the calendar year, then Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of such results. If the
Independent Review reveals or the Accountant(s) determine that the Operating Expenses billed to Tenant by Landlord and paid by Tenant to Landlord for the applicable calendar year in question exceeded by more than five percent (5%) what Tenant
should have been billed during such calendar year, then Landlord shall pay the reasonable cost of the Independent Review and the Accountant(s). In all other cases Tenant shall pay the cost of the Independent Review and the Accountant(s). 

  
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 9.4. Tenant shall not be responsible for Operating Expenses attributable to the time period
prior to the Term Commencement Date; provided, however, that if Landlord shall permit Tenant possession of the Premises prior to the Term Commencement Date (except for purposes of early access to install improvements and equipment as set
forth in Section 4.3), Tenant shall be responsible for Operating Expenses from such earlier date of possession. Tenant’s responsibility for Tenant’s Share of Operating Expenses shall continue to the latest of (a) the date
of termination of the Lease, (b) the date Tenant has fully vacated the Premises and (c) if termination of the Lease is due to a default by Tenant, the date of rental commencement of a replacement tenant. 

9.5. Operating Expenses for the calendar year in which Tenant’s obligation to share therein commences and for the calendar year in
which such obligation ceases shall be prorated on a basis reasonably determined by Landlord. Expenses such as taxes, assessments and insurance premiums that are incurred for an extended time period shall be prorated based upon the time periods to
which they apply so that the amounts attributed to the Premises relate in a reasonable manner to the time period wherein Tenant has an obligation to share in Operating Expenses. 

9.6. Within five (5) business days after the end of each calendar month, Tenant shall submit to Landlord an invoice, or, in the
event an invoice is not available, an itemized list, of all costs and expenses that (a) Tenant has incurred (either internally or by employing third parties) during the prior month and (b) for which Tenant reasonably believes it is
entitled to reimbursements from Landlord pursuant to the terms of this Lease. 
 9.7. In the event that the Project is less than
fully occupied, Tenant acknowledges that Landlord may extrapolate Operating Expenses that vary depending on the occupancy of the Building or Project, as applicable, by dividing (a) the total cost of Operating Expenses by (b) the Rentable
Area of the Building or Project (as applicable) that is occupied, then multiplying (y) the resulting quotient by (z) ninety-five percent (95%) of the total Rentable Area of the Building or Project (as applicable). Tenant shall pay
Tenant’s Share of the product of (y) and (z), subject to adjustment as reasonably determined by Landlord; provided, however, that Landlord shall not recover more than one hundred percent (100%) of Operating Expenses.

  
 11 

 10. Taxes on Tenant’s Property. 

10.1. Tenant shall pay prior to delinquency any and all taxes levied against any personal property or trade fixtures placed by Tenant in
or about the Premises. 
 10.2. If any such taxes on Tenant’s personal property or trade fixtures are levied against
Landlord or Landlord’s property or, if the assessed valuation of the Building, the Property or the Project is increased by inclusion therein of a value attributable to Tenant’s personal property or trade fixtures, and if Landlord, after
written notice to Tenant, pays the taxes based upon any such increase in the assessed value of the Building, the Property or the Project, then Tenant shall, upon demand, repay to Landlord the taxes so paid by Landlord. 

10.3. If any improvements in or alterations to the Premises, whether owned by Landlord or Tenant and whether or not affixed to the real
property so as to become a part thereof, are assessed for real property tax purposes at a valuation higher than the valuation at which improvements conforming to Landlord’s building standards (the “Building Standard”) in other
spaces in the Building are assessed, then the real property taxes and assessments levied against Landlord or the Building, the Property or the Project by reason of such excess assessed valuation shall be deemed to be taxes levied against personal
property of Tenant and shall be governed by the provisions of Section 10.2. Any such excess assessed valuation due to improvements in or alterations to space in the Project leased by other tenants at the Project shall not be included in
Operating Expenses. If the records of the County Assessor are available and sufficiently detailed to serve as a basis for determining whether such Tenant improvements or alterations are assessed at a higher valuation than the Building Standard, then
such records shall be binding on both Landlord and Tenant. 
 11. Security Deposit. 

11.1. Tenant shall deposit with Landlord on or before the Execution Date the sum set forth in Section 2.6 (the
“Security Deposit”), which sum shall be held by Landlord as security for the faithful performance by Tenant of all of the terms, covenants and conditions of this Lease to be kept and performed by Tenant during period commencing on
the Execution Date and ending upon the expiration or termination of Tenant’s obligations under this Lease. If Tenant defaults with respect to any provision of this Lease, including any provision relating to the payment of Rent, then Landlord
may (but shall not be required to) use, apply or retain all or any part of the Security Deposit for the payment of any Rent or any other sum in default, or to compensate Landlord for any other loss or damage that Landlord may suffer by reason of
Tenant’s default. If any portion of the Security Deposit is so used or applied, then Tenant shall, within ten (10) days following demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its
original amount, and Tenant’s failure to do so shall be a material breach of this Lease. The provisions of this Article shall survive the expiration or earlier termination of this Lease. TENANT HEREBY WAIVES THE REQUIREMENTS OF SECTION 1950.7
OF THE CALIFORNIA CIVIL CODE, AS THE SAME MAY BE AMENDED FROM TIME TO TIME. 

  
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 11.2. In the event of bankruptcy or other debtor-creditor proceedings against Tenant, the
Security Deposit shall be deemed to be applied first to the payment of Rent and other charges due Landlord for all periods prior to the filing of such proceedings. 
 11.3. Landlord may deliver to any purchaser of Landlord’s interest in the Premises the funds deposited hereunder by Tenant, and thereupon Landlord shall be discharged from any further liability with
respect to such deposit. This provision shall also apply to any subsequent transfers. 
 11.4. If Tenant shall fully and
faithfully perform every provision of this Lease to be performed by it, then the Security Deposit, or any balance thereof, shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within
thirty (30) days after the expiration or earlier termination of this Lease. 
 11.5. If the Security Deposit shall be in
cash, Landlord shall hold the Security Deposit in an account at a banking organization selected by Landlord; provided, however, that Landlord shall not be required to maintain a separate account for the Security Deposit, but may intermingle
it with other funds of Landlord. Landlord shall be entitled to all interest and/or dividends, if any, accruing on the Security Deposit. Landlord shall not be required to credit Tenant with any interest for any period during which Landlord does not
receive interest on the Security Deposit. 
 11.6. The Security Deposit may be in the form of cash, a letter of credit or any
other security instrument acceptable to Landlord in its sole discretion. Tenant may, at any time, except when Tenant is in Default (as defined below), deliver a letter of credit (the “L/C Security”) as the entire Security Deposit,
as follows: 
 (a) If Tenant elects to deliver L/C Security, then Tenant shall provide Landlord, and maintain in full force and
effect throughout the Term and until the date that is six (6) months after the then-current Term Expiration Date, a letter of credit in the form of Exhibit E issued by an issuer reasonably satisfactory to Landlord, in the amount of the
Security Deposit, with an initial term of at least one year. Landlord may require the L/C Security to be re-issued by a different issuer at any time during the Term if Landlord reasonably believes that the issuing bank of the L/C Security is or may
soon become insolvent; provided, however, Landlord shall return the existing L/C Security to the existing issuer immediately upon receipt of the substitute L/C Security. If any issuer of the L/C Security shall become insolvent or placed into FDIC
receivership, then Tenant shall immediately deliver to Landlord (without the requirement of notice from Landlord) substitute L/C Security issued by an issuer reasonably satisfactory to Landlord, and otherwise conforming to the requirements set forth
in this Article. As used herein with respect to the issuer of the L/C Security, “insolvent” shall mean the determination of insolvency as made by such issuer’s primary bank regulator (i.e., the state bank supervisor for state
chartered banks; the OCC or OTS, respectively, for federally chartered banks or thrifts; or the Federal Reserve for its member banks). If, at the Term Expiration Date, any Rent remains uncalculated or unpaid, then: (i) Landlord shall with
reasonable diligence complete any necessary calculations; (ii) Tenant shall extend the expiry date of such L/C Security from time to time as Landlord reasonably requires; and (iii) in such extended period, Landlord shall not unreasonably
refuse to consent to an appropriate reduction of the L/C Security. Tenant shall reimburse Landlord’s legal costs (as estimated by Landlord’s counsel) in handling Landlord’s acceptance of L/C Security or its replacement or extension,
not to exceed Two Thousand Five Hundred Dollars ($2,500.00). 

  
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 (b) If Tenant delivers to Landlord satisfactory L/C Security in place of the entire Security
Deposit, Landlord shall remit to Tenant any cash Security Deposit Landlord previously held. 
 (c) Landlord may draw upon the
L/C Security, and hold and apply the proceeds in the same manner and for the same purposes as the Security Deposit, if: (i) an uncured Default (as defined below) exists; (ii) as of the date forty-five (45) days before any L/C Security
expires (even if such scheduled expiry date is after the Term Expiration Date) Tenant has not delivered to Landlord an amendment or replacement for such L/C Security, reasonably satisfactory to Landlord, extending the expiry date to the earlier of
(1) six (6) months after the then-current Term Expiration Date or (2) the date one year after the then-current expiry date of the L/C Security; (iii) the L/C Security provides for automatic renewals, Landlord asks the issuer to
confirm the current L/C Security expiry date, and the issuer fails to do so within ten (10) business days; (iv) Tenant fails to pay (when and as Landlord reasonably requires) any bank charges for Landlord’s transfer of the L/C
Security; or (v) the issuer of the L/C Security ceases, or announces that it will cease, to maintain an office in the city where Landlord may present drafts under the L/C Security (and fails to permit drawing upon the L/C Security by overnight
courier or facsimile). This Section does not limit any other provisions of this Lease allowing Landlord to draw the L/C Security under specified circumstances. 
 (d) Tenant shall not seek to enjoin, prevent, or otherwise interfere with Landlord’s draw under L/C Security, even if it violates this Lease. Tenant acknowledges that the only effect of a wrongful
draw would be to substitute a cash Security Deposit for L/C Security, causing Tenant no legally recognizable damage. Landlord shall hold the proceeds of any draw in the same manner and for the same purposes as a cash Security Deposit. In the event
of a wrongful draw, the parties shall cooperate to allow Tenant to post replacement L/C Security simultaneously with the return to Tenant of the wrongfully drawn sums, and Landlord shall upon request confirm in writing to the issuer of the L/C
Security that Landlord’s draw was erroneous. 
 (e) If Landlord transfers its interest in the Premises, then Tenant shall
at Tenant’s expense, within five (5) business days after receiving a request from Landlord, deliver (and, if the issuer requires, Landlord shall consent to) an amendment to the L/C Security naming Landlord’s grantee as substitute
beneficiary. If the required Security Deposit changes while L/C Security is in force, then Tenant shall deliver (and, if the issuer requires, Landlord shall consent to) a corresponding amendment to the L/C Security. 

11.7. Tenant shall, upon Landlord’s written request, pay to Landlord two (2) times the amount of such increase as an additional
Security Deposit. 
 12. Use. 
 12.1. Tenant shall use the Premises for the purpose set forth in Section 2.7, and shall not use the Premises, or permit or suffer the Premises to be used, for any other purpose without
Landlord’s prior written consent, which consent Landlord may withhold in its sole and absolute discretion. 

  
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 12.2. Tenant shall not use or occupy the Premises in violation of Applicable Laws; zoning
ordinances; or the certificate of occupancy issued for the Building or the Project, and shall, upon five (5) days’ written notice from Landlord, discontinue any use of the Premises that is declared or claimed by any Governmental Authority
having jurisdiction to be a violation of any of the above, or that in Landlord’s reasonable opinion violates any of the above. Tenant shall comply with any direction of any Governmental Authority having jurisdiction that shall, by reason of the
nature of Tenant’s use or occupancy of the Premises, impose any duty upon Tenant or Landlord with respect to the Premises or with respect to the use or occupation thereof. 

12.3. Tenant shall not do or permit to be done anything that will invalidate or increase the cost of any fire, environmental, extended
coverage or any other insurance policy covering the Building or the Project, and shall comply with all rules, orders, regulations and requirements of the insurers of the Building and the Project, and Tenant shall promptly, upon demand, reimburse
Landlord for any additional premium charged for such policy by reason of Tenant’s failure to comply with the provisions of this Article. 
 12.4. Tenant shall keep all doors opening onto public corridors closed, except when in use for ingress and egress. 
 12.5. No additional locks or bolts of any kind shall be placed upon any of the doors or windows by Tenant, nor shall any changes be made to existing locks or the mechanisms thereof without Landlord’s
prior written consent. Tenant shall, upon termination of this Lease, return to Landlord all keys to offices and restrooms either furnished to or otherwise procured by Tenant. In the event any key so furnished to Tenant is lost, Tenant shall pay to
Landlord the cost of replacing the same or of changing the lock or locks opened by such lost key if Landlord shall deem it necessary to make such change. 
 12.6. No awnings or other projections shall be attached to any outside wall of the Building. No curtains, blinds, shades or screens shall be attached to or hung in, or used in connection with, any window
or door of the Premises other than Landlord’s standard window coverings. Neither the interior nor exterior of any windows shall be coated or otherwise sunscreened without Landlord’s prior written consent, nor shall any bottles, parcels or
other articles be placed on the windowsills. No equipment, furniture or other items of personal property shall be placed on any exterior balcony without Landlord’s prior written consent. 

12.7. No sign, advertisement or notice (“Signage”) shall be exhibited, painted or affixed by Tenant on the exterior of the
Building without Landlord’s prior written consent, not to be unreasonably withheld, conditioned or delayed. Exterior Signage shall only be permitted on the existing glass signage panels on the Building. For any Signage, Tenant shall, at
Tenant’s own cost and expense, (a) acquire all permits for such Signage in compliance with Applicable Laws, (b) hire Landlord’s signage vendor to install such Signage and (c) maintain such Signage in a first-class condition.
Tenant shall be responsible for reimbursing Landlord for costs incurred by Landlord in removing any of Tenant’s Signage upon the expiration or earlier termination of the Lease. At Landlord’s option, Landlord may install any Tenant Signage,
and Tenant shall pay all costs associated with such installation within thirty (30) days after demand therefor. 

  
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 12.8. Tenant shall only place equipment within the Premises with floor loading consistent
with the Building’s structural design without Landlord’s prior written approval, and such equipment shall be placed in a location designed to carry the weight of such equipment. 

12.9. Tenant shall cause any equipment or machinery to be installed in the Premises so as to reasonably prevent sounds or vibrations
therefrom from extending into the Common Areas or other offices in the Project. 
 12.10. Tenant shall not (a) do or permit
anything to be done in or about the Premises that shall in any way obstruct or interfere with the rights of other tenants or occupants of the Project, or injure or annoy them, (b) use or allow the Premises to be used for immoral, unlawful or
objectionable purposes, (c) cause, maintain or permit any nuisance or waste in, on or about the Project or (d) take any other action that would in Landlord’s reasonable determination in any manner adversely affect other tenants’
quiet use and enjoyment of their space or adversely impact their ability to conduct business in a professional and suitable work environment. 
 12.11. Notwithstanding any other provision herein to the contrary, from and after the Term Commencement Date, Tenant shall be responsible for all liabilities, costs and expenses arising out of or in
connection with the compliance of the Premises with the Americans with Disabilities Act, 42 U.S.C. § 12101, et seq., and any state and local accessibility laws, codes, ordinances and rules (collectively, and together with
regulations promulgated pursuant thereto, the “ADA”), and Tenant shall indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold Landlord and its affiliates, employees, agents
and contractors; and any lender, mortgagee or beneficiary (each, a “Lender” and, collectively with Landlord and its affiliates, employees, agents and contractors, the “Landlord Indemnitees”) harmless from and
against any demands, claims, liabilities, losses, costs, expenses, actions, causes of action, damages or judgments, and all reasonable expenses (including reasonable attorneys’ fees, charges and disbursements) incurred in investigating or
resisting the same (collectively, “Claims”) arising out of any such failure of the Premises to comply with the ADA. Landlord shall cause the Premises to comply with the ADA as of the Term Commencement Date and shall be responsible
(subject to recovery as Operating Expenses) for causing the Common Areas to comply with the ADA during the Term, including related to any exterior modifications to the Building. The provisions of this Section shall survive the expiration or earlier
termination of this Lease. 
 13. Rules and Regulations, CC&Rs, Parking Facilities and Common Areas. 

13.1. Tenant shall have the non-exclusive right, in common with others, to use the Common Areas in conjunction with Tenant’s use of
the Premises for the Permitted Use, and such use of the Common Areas and Tenant’s use of the Premises shall be subject to the rules and regulations adopted by Landlord and attached hereto as Exhibit F, together with such other reasonable
and nondiscriminatory rules and regulations as are hereafter promulgated by Landlord in its sole and absolute discretion (the “Rules and Regulations”). Tenant shall faithfully observe and comply with the Rules and Regulations.
Landlord shall not be responsible to Tenant for the violation or non-performance by any other tenant or any agent, employee or invitee thereof of any of the Rules and Regulations. No Rules and Regulations promulgated by Landlord shall materially
impair Tenant’s rights nor materially increase Tenant’s costs under this Lease. 

  
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 13.2. This Lease is subject to any recorded covenants, conditions or restrictions on the
Project or Property (the “CC&Rs”), as the same may be amended, amended and restated, supplemented or otherwise modified from time to time; provided that any such amendments, restatements, supplements or modifications do
not materially modify Tenant’s rights or obligations hereunder. Tenant shall comply with the CC&Rs. 
 13.3. Tenant
shall have a non-exclusive, irrevocable license to use Tenant’s Pro Rata Share of parking facilities serving the Project in common on an unreserved basis with other tenants of the Project during the Term at no additional cost. Landlord and
Tenant acknowledge that the Project is currently parked at a ratio of two and 73/100 (2.73) spaces per one thousand (1,000) square feet of Rentable Area and that Tenant’s Pro Rata Share is fifty-three (53) parking spaces.

 13.4. Tenant agrees not to unreasonably overburden the parking facilities and agrees to cooperate with Landlord and other
tenants in the use of the parking facilities. Landlord reserves the right to determine that parking facilities are becoming overcrowded and to limit Tenant’s use thereof (but in no event shall Landlord decrease Tenant’s Pro Rata Share of
the parking facilities below fifty-three (53) parking spaces). Upon such determination, Landlord may reasonably allocate parking spaces among Tenant and other tenants of the Building or the Project. Nothing in this Section, however, is intended
to create an affirmative duty on Landlord’s part to monitor parking. 
 13.5. Landlord reserves the right to modify the
Common Areas, including the right to add or remove exterior and interior landscaping and to subdivide real property; provided, however, that Landlord will not exercise such rights in a manner that unreasonably interferes with Tenant’s
access to and use of the Premises on a permanent basis or materially reduces the parking ratio at the Project; provided, further, that Tenant acknowledges and agrees that, during construction at the Project, Landlord may temporarily modify
the Common Areas to change the parking configuration and location, access and other aspects of the Common Areas. 
 14. Project Control by
Landlord. 
 14.1. Landlord reserves full control over the Building and the Project to the extent not inconsistent with
Tenant’s enjoyment of the Premises as provided by this Lease. This reservation includes Landlord’s right to subdivide the Project; convert the Building and other buildings within the Project to condominium units; change the size of the
Project by selling all or a portion of the Project or adding real property and any improvements thereon to the Project; grant easements and licenses to third parties; maintain or establish ownership of the Building separate from fee title to the
Property; make additions to or reconstruct portions of the Building and the Project; install, use, maintain, repair, replace and relocate for service to the Premises and other parts of the Building or the Project pipes, ducts, conduits, wires and
appurtenant fixtures, wherever located in the Premises, the Building or elsewhere at the Project; and alter or relocate any other Common Area or facility, including private drives, lobbies and entrances; provided, however, that Landlord will
not exercise such rights in a manner that unreasonably interferes with Tenant’s access to and use of the Premises on a permanent basis or materially reduces the parking ratio at the Project; provided, further, that Tenant acknowledges
and agrees that, during construction at the Project, Landlord may temporarily modify the Common Areas to change the parking configuration and location, access and other aspects of the Common Areas. 

  
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 14.2. Possession of areas of the Premises necessary for utilities, services, safety and
operation of the Building is reserved to Landlord. 
 14.3. Tenant shall, at Landlord’s request, promptly execute such
further documents as may be reasonably appropriate to assist Landlord in the performance of its obligations hereunder; provided that Tenant need not execute any document that creates additional liability for Tenant or that deprives Tenant of
the quiet enjoyment and use of the Premises as provided for in this Lease. 
 14.4. Landlord may, at any and all reasonable
times during non-business hours (or during business hours, if (a) with respect to Subsections 14.4(u) through 14.4(y), Tenant so requests, and (b) with respect to Subsection 14.4(z), if Landlord so requests), and upon
twenty-four (24) hours’ prior notice (provided that no time restrictions shall apply or advance notice be required if an emergency necessitates immediate entry), enter the Premises to (u) inspect the same and to determine
whether Tenant is in compliance with its obligations hereunder, (v) supply any service Landlord is required to provide hereunder, (w) alter, improve or repair any portion of the Building other than the Premises for which access to the
Premises is reasonably necessary, (x) post notices of nonresponsibility, (y) access the telephone equipment, electrical substation and fire risers and (z) show the Premises to prospective purchasers or tenants during the final year of
the Term. In connection with any such alteration, improvement or repair as described in Subsection 14.4(z), Landlord may erect in the Premises or elsewhere in the Project scaffolding and other structures reasonably required for the
alteration, improvement or repair work to be performed. In no event shall Tenant’s Rent abate as a result of Landlord’s activities pursuant to this Section; provided, however, that all such activities shall be conducted in such a
manner so as to cause as little interference to Tenant as is reasonably possible. Landlord shall at all times retain a key with which to unlock all of the doors in the Premises. If an emergency necessitates immediate access to the Premises, Landlord
may use whatever force is necessary to enter the Premises, and any such entry to the Premises shall not constitute a forcible or unlawful entry to the Premises, a detainer of the Premises, or an eviction of Tenant from the Premises or any portion
thereof. 
 15. Quiet Enjoyment. So long as Tenant is not in default under this Lease, Landlord or anyone acting through or under
Landlord shall not disturb Tenant’s occupancy of the Premises, except as permitted by this Lease. 
 16. Utilities and Services.

 16.1. Tenant shall pay for all water (including the cost to service, repair and replace reverse osmosis, de-ionized and other
treated water), gas, heat, light, power, telephone, internet service, cable television, other telecommunications and other utilities supplied to the Premises, together with any fees, surcharges and taxes thereon. Tenant shall not be liable for the
cost of utilities supplied to the Premises attributable to the time period prior to the Term Commencement Date; provided, however, that, if Landlord shall permit Tenant possession of the Premises prior to the Term Commencement Date and Tenant
uses the Premises for any purpose other than placement of personal property as set forth in Section 4.3, then Tenant shall be responsible for the cost of utilities supplied to the Premises from such earlier date of possession.

  
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 16.2. Landlord shall not be liable for, nor shall any eviction of Tenant result from, the
failure to furnish any utility or service, whether or not such failure is caused by accident; breakage; repair; strike, lockout or other labor disturbance or labor dispute of any character; act of terrorism; shortage of materials, which shortage is
not unique to Landlord or Tenant, as the case may be; governmental regulation, moratorium or other governmental action, inaction or delay; or other causes beyond Landlord’s control (collectively, “Force Majeure”) or
Landlord’s negligence. In the event of such failure, Tenant shall not be entitled to termination of this Lease or any abatement or reduction of Rent, nor shall Tenant be relieved from the operation of any covenant or agreement of this Lease.

 16.3. Tenant shall pay for, prior to delinquency of payment therefor, any utilities and services that may be furnished to the
Premises during or, if Tenant occupies the Premises after the expiration or earlier termination of the Term, after the Term, including telephone, internet service, cable television and other telecommunications, together with any fees, surcharges and
taxes thereon. If Tenant fails to timely make such payments, Landlord may pay such charges and collect the same from Tenant. Any such costs or expenses incurred or payments made by Landlord for any of the reasons or purposes stated in this Section
shall be deemed to be Additional Rent payable by Tenant and collectible by Landlord as such. 
 16.4. Tenant shall not, without
Landlord’s prior written consent (which consent will not be unreasonably withheld, conditioned or delayed), use any device in the Premises (including data processing machines) that will in any way (a) increase the amount of ventilation,
air exchange, gas, steam, electricity or water required or consumed in the Premises based upon Tenant’s Pro Rata Share of the Project beyond the existing capacity of the Building or the Project usually furnished or supplied for the use set
forth in Section 2.7 or (b) exceed Tenant’s Pro Rata Share of the Project’s capacity to provide such utilities or services. 
 16.5. If Tenant shall require utilities or services in excess of those usually furnished or supplied for tenants in similar spaces in the Building or the Project by reason of Tenant’s equipment or
extended hours of business operations, then Tenant shall first procure Landlord’s consent for the use thereof, which consent Landlord may condition upon the availability of such excess utilities or services, and Tenant shall pay as Additional
Rent an amount equal to the cost of providing such excess utilities and services. 
 16.6. Landlord shall provide water in
Common Areas for landscaping purposes only, which water shall be from the local municipal or similar source. 

  
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 16.7. Landlord reserves the right to stop service of the elevator, plumbing, ventilation,
air conditioning and utility systems, when Landlord deems necessary or desirable, due to accident, emergency or the need to make repairs, alterations or improvements, until such repairs, alterations or improvements shall have been completed, and
Landlord shall further have no responsibility or liability for failure to supply elevator facilities, plumbing, ventilation, air conditioning or utility service when prevented from doing so by Force Majeure or Landlord’s negligence; a failure
by a third party to deliver gas, oil or another suitable fuel supply; or Landlord’s inability by exercise of reasonable diligence to obtain gas, oil or another suitable fuel. Without limiting the foregoing, it is expressly understood and agreed
that any covenants on Landlord’s part to furnish any service pursuant to any of the terms, covenants, conditions, provisions or agreements of this Lease, or to perform any act or thing for the benefit of Tenant, shall not be deemed breached if
Landlord is unable to furnish or perform the same by virtue of Force Majeure or Landlord’s negligence. 
 16.8. For any utilities serving the Premises for which Tenant is billed directly by such utility provider, Tenant agrees to furnish to Landlord (a) any invoices or statements for such utilities
within thirty (30) days after Tenant’s receipt thereof, (b) within thirty (30) days after Landlord’s request, any other utility usage information reasonably requested by Landlord, and (c) within thirty (30) days
after each calendar year during the Term, an ENERGY STAR® Statement of Performance (or similar comprehensive
utility usage report (e.g., related to Labs 21), if requested by Landlord) and any other information reasonably requested by Landlord for the immediately preceding year. Tenant shall retain records of utility usage at the Premises, including
invoices and statements from the utility provider, for at least sixty (60) months, or such other period of time as may be requested by Landlord. Tenant acknowledges that any utility information for the Premises, the Building and the Project may
be shared with third parties, including Landlord’s consultants and Governmental Authorities. In the event that Tenant fails to comply with this Section, Tenant hereby authorizes Landlord to collect utility usage information directly from the
applicable utility providers, and Tenant shall pay Landlord a fee of Five Hundred Dollars ($500) per month to collect such utility usage information. 
 16.9. In no event shall Landlord be liable to Tenant for any failure or defect in the supply or character of electric energy furnished to the Premises by reason of any requirement, act or omission of the
public utility serving the Project with electric energy, or for any other reason not attributable to Landlord’s gross negligence or willful misconduct. 
 16.10. Tenant’s use of electric energy in the Premises shall not at any time exceed the capacity of any of the electrical conductors and equipment in or otherwise serving the Premises. In order to
ensure that such capacity is not exceeded, and to avert a possible adverse effect upon the Project’s distribution of electricity via the Project’s electric system, Tenant shall not, without Landlord’s prior written consent in each
instance (which consent Landlord may condition upon the availability of electric energy in the Project as allocated by Landlord to various areas of the Project) connect any fixtures, appliances or equipment (other than normal business machines) to
the Building’s or Project’s electric system or make any alterations or additions to the electric system of the Premises existing on the date hereof. Should Landlord grant such consent, all additional risers, distribution cables or other
equipment required therefor shall be provided by Landlord and the cost thereof shall be paid by Tenant to Landlord on demand (or, at Tenant’s option, shall be provided by Tenant pursuant to plans and contractors approved by Landlord, and
otherwise in accordance with the provisions of this Lease). Landlord shall have the right to require Tenant to pay sums on account of such cost prior to the installation of any such risers or equipment. 

  
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 17. Alterations. 
 17.1. Tenant shall make no alterations, additions or improvements in or to the Premises or engage in any construction, demolition, reconstruction, renovation, or other work (whether major or minor) of any
kind in, at, or serving the Premises in excess of Fifty Thousand Dollars ($50,000) (“Alterations”) without Landlord’s prior written approval, which approval Landlord shall not unreasonably withhold, condition or delay;
provided, however, that in the event any proposed Alteration affects (a) any structural portions of the Building, including exterior walls, roof, foundation, foundation systems (including barriers and subslab systems), or core of the
Building, (b) the exterior of the Building or (c) any Building systems, including elevator, plumbing, air conditioning, heating, electrical, security, life safety and power, then Landlord may withhold its approval with respect thereto in
its sole and absolute discretion. Tenant shall, in making any such Alterations, use only those architects, contractors, suppliers and mechanics of which Landlord has given prior written approval, not to be unreasonably withheld, conditioned or
delayed. In seeking Landlord’s approval, Tenant shall provide Landlord, at least fourteen (14) days in advance of any proposed construction, with plans, specifications, bid proposals, certified stamped engineering drawings and calculations
by Tenant’s engineer of record or architect of record, (including connections to the Building’s structural system, modifications to the Building’s envelope, non-structural penetrations in slabs or walls, and modifications or tie-ins
to life safety systems), work contracts, requests for laydown areas and such other information concerning the nature and cost of the Alterations as Landlord may reasonably request. In no event shall Tenant use or Landlord be required to approve any
architects, consultants, contractors, subcontractors or material suppliers that Landlord reasonably believes could cause labor disharmony. 
 17.2. Tenant shall not construct or permit to be constructed partitions or other obstructions that might interfere with free access to mechanical installation or service facilities of the Building or with
other tenants’ components located within the Building, or interfere with the moving of Landlord’s equipment to or from the enclosures containing such installations or facilities. 

17.3. Tenant shall accomplish any work performed on the Premises or the Building in such a manner as to permit any life safety systems to
remain fully operable at all times. 
 17.4. Any work performed on the Premises, the Building or the Project by Tenant or
Tenant’s contractors shall be done at such times and in such manner as Landlord may from time to time designate. Tenant covenants and agrees that all work done by Tenant or Tenant’s contractors shall be performed in full compliance with
Applicable Laws. Within thirty (30) days after completion of any Alterations, Tenant shall provide Landlord with complete “as-built” drawing print sets and electronic CADD files on disc (or files in such other current format in common
use as Landlord reasonably approves or requires) showing any changes in the Premises. 
 17.5. Before commencing any
Alterations, Tenant shall give Landlord at least fourteen (14) days’ prior written notice of the proposed commencement of such work and shall, if required by Landlord, secure, at Tenant’s own cost and expense, a completion and lien
indemnity bond satisfactory to Landlord for such work. 

  
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 17.6. Tenant shall repair any damage to the Premises caused by Tenant’s removal of any
property from the Premises. During any such restoration period, Tenant shall pay Rent to Landlord as provided herein as if such space were otherwise occupied by Tenant. The provisions of this Section shall survive the expiration or earlier
termination of this Lease. 
 17.7. (a) The Premises shall at all times remain the property of Landlord and shall be surrendered
to Landlord upon the expiration or earlier termination of this Lease. 
 (b) All Alterations, Signage, attached equipment,
decorations, fixtures, movable laboratory casework and related appliances, trade fixtures, additions and improvements attached to or built into the Premises, made by either of the parties (including all floor and wall coverings, built-in cabinet
work and paneling, sinks and related plumbing fixtures, laboratory benches, exterior venting fume hoods and walk-in freezers and refrigerators, ductwork, conduits, electrical panels and circuits), shall (unless, prior to such construction or
installation, Landlord elects otherwise) become the property of Landlord upon the expiration or earlier termination of the Term, and shall remain upon and be surrendered with the Premises as a part thereof. 

(c) Subject to Section 17.7(b) and except as to those items listed on Exhibit H attached hereto (which Exhibit
H may be updated by Tenant from and after the Term Commencement Date, subject to Landlord’s written consent), all Tenant Improvements, business and trade fixtures, machinery and equipment, built-in furniture and cabinets, together with all
additions and accessories thereto, installed in and upon the Premises shall be and remain the property of Landlord and shall not be moved by Tenant at any time during the Term. 

(d) Notwithstanding any other provision of this Article to the contrary, in no event shall Tenant remove any improvement from the
Premises as to which Landlord contributed payment, including the Tenant Improvements, without Landlord’s prior written consent, which consent Landlord may withhold in its sole and absolute discretion. 

(e) If Tenant shall fail to remove any of its effects from the Premises prior to termination of this Lease, then Landlord may, at its
option, remove the same in any manner that Landlord shall choose and store such effects without liability to Tenant for loss thereof or damage thereto, and Tenant shall pay Landlord, upon demand, any costs and expenses incurred due to such removal
and storage or Landlord may, at its sole option and without notice to Tenant, sell such property or any portion thereof at private sale and without legal process for such price as Landlord may obtain and apply the proceeds of such sale against any
(i) amounts due by Tenant to Landlord under this Lease and (ii) any expenses incident to the removal, storage and sale of such personal property. 
 17.8. Tenant shall pay to Landlord an amount equal to three percent (3%) of the cost to Tenant of all Alterations to cover Landlord's overhead and expenses for plan review, coordination, scheduling
and supervision thereof. For purposes of payment of such sum, Tenant shall submit to Landlord copies of all bills, invoices and statements covering the costs of such charges, accompanied by payment to Landlord of the fee set forth in this Section.
Tenant shall reimburse Landlord for any extra expenses incurred by Landlord by reason of faulty work done by Tenant or its contractors, or by reason of delays caused by such work, or by reason of inadequate clean-up. 

  
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 17.9. Within sixty (60) days after final completion of any Alterations performed by
Tenant with respect to the Premises, Tenant shall submit to Landlord documentation showing the amounts expended by Tenant with respect to such Alterations, together with supporting documentation reasonably acceptable to Landlord. 

17.10. Tenant shall take, and shall cause its contractors to take, commercially reasonable steps to protect the Premises during the
performance of any Alterations, including covering or temporarily removing any window coverings so as to guard against dust, debris or damage. 
 17.11. Tenant shall require its contractors and subcontractors performing work on the Premises to name Landlord and its affiliates and Lenders as additional insureds on their respective insurance
policies. 
 18. Repairs and Maintenance. 
 18.1. Landlord shall repair and maintain the structural and exterior portions and Common Areas of the Building and the Project, including roofing and covering materials; foundations; exterior walls; and
electrical systems installed or furnished by Landlord. Landlord shall also maintain a flood mitigation system to facilitate drainage in the parking facilities located in the Common Area. 

18.2. Except for services of Landlord, if any, required by Section 18.1, Tenant shall at Tenant’s sole cost and expense
maintain and keep the Premises and every part thereof in good condition and repair, damage thereto from ordinary wear and tear excepted. Tenant shall hire, at Tenant’s sole cost and expense, (a) a licensed heating, ventilating and air
conditioning contractor to regularly and periodically (not less frequently than every three (3) months) inspect and perform required maintenance on the heating, ventilating and air conditioning equipment and systems serving the Premises, and
(b) a licensed fire sprinkler contractor to regularly and periodically (not less frequently than every three (3) months) inspect and perform required maintenance on the fire sprinkler equipment and systems serving the Premises.
Alternatively, Landlord may, at its election, contract in its own name for such regular and periodic inspections of and maintenance on such heating, ventilating and air conditioning equipment and systems and charge to Tenant, as Additional Rent, the
cost thereof. Tenant shall, upon the expiration or sooner termination of the Term, surrender the Premises to Landlord in as good a condition as when received, ordinary wear and tear excepted and with the Tenant Improvements in substantially the same
condition as existed on the Term Commencement Date (subject to ordinary wear and tear); and shall, at Landlord’s request and Tenant’s sole cost and expense, remove all telephone and data systems, wiring and equipment from the Premises, and
repair any damage to the Premises caused thereby. Landlord shall have no obligation to alter, remodel, improve, repair, decorate or paint the Premises or any part thereof, other than pursuant to the terms and provisions of the Work Letter.

 18.3. Landlord shall not be liable for any failure to make any repairs or to perform any maintenance that is Landlord’s
obligation pursuant to this Lease unless such failure shall persist for an unreasonable time after Tenant provides Landlord with written notice of the need of such repairs or maintenance. In the event that Tenant notifies Landlord that the flood
mitigation system at the Project needs improvements or repairs, Landlord shall use commercially reasonable efforts to prevent flooding at the Project within a reasonable period of time after receiving such notification. Tenant waives its rights
under Applicable Laws now or hereafter in effect to make repairs at Landlord’s expense. 

  
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 18.4. If any excavation shall be made upon land adjacent to or under the Building, or shall
be authorized to be made, Tenant shall afford to the person causing or authorized to cause such excavation, license to enter the Premises for the purpose of performing such work as such person shall deem necessary or desirable to preserve and
protect the Building from injury or damage and to support the same by proper foundations, without any claim for damages or liability against Landlord and without reducing or otherwise affecting Tenant’s obligations under this Lease. 

18.5. This Article relates to repairs and maintenance arising in the ordinary course of operation of the Building and the Project. In the
event of a casualty described in Article 24, Article 24 shall apply in lieu of this Article. In the event of eminent domain, Article 25 shall apply in lieu of this Article. 

18.6. Except as otherwise set forth in Section 9.1(c), costs incurred by Landlord pursuant to this Article shall constitute
Operating Expenses. 
 19. Liens. 
 19.1. Subject to the immediately succeeding sentence, Tenant shall keep the Premises, the Building and the Project free from any liens arising out of work performed, materials furnished or obligations
incurred by Tenant. Tenant further covenants and agrees that any mechanic’s lien filed against the Premises, the Building or the Project for work claimed to have been done for, or materials claimed to have been furnished to, Tenant shall be
discharged or bonded by Tenant within ten (10) days after the filing thereof, at Tenant's sole cost and expense. 
 19.2.
Should Tenant fail to discharge or bond against any lien of the nature described in Section 19.1, Landlord may, at Landlord’s election, pay such claim or post a bond or otherwise provide security to eliminate the lien as a claim
against title, and Tenant shall immediately reimburse Landlord for the costs thereof as Additional Rent. Tenant shall indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold the Landlord
Indemnitees harmless from and against any Claims arising from any such liens, including any administrative, court or other legal proceedings related to such liens. 
 19.3. In the event that Tenant leases or finances the acquisition of office equipment, furnishings or other personal property of a removable nature utilized by Tenant in the operation of Tenant’s
business, Tenant warrants that any Uniform Commercial Code financing statement shall, upon its face or by exhibit thereto, indicate that such financing statement is applicable only to removable personal property of Tenant located within the
Premises. In no event shall the address of the Premises, the Building or the Project be furnished on a financing statement without qualifying language as to applicability of the lien only to removable personal property located in an identified suite
leased by Tenant. Should any holder of a financing statement record or place of record a financing statement that appears to constitute a lien against any interest of Landlord or against equipment that may be located other than within an identified
suite leased by Tenant, Tenant shall, within ten (10) days after filing such financing statement, cause (a) a copy of the Lender security agreement or other documents to which the financing statement pertains to be furnished to Landlord to
facilitate Landlord’s ability to demonstrate that the lien of such financing statement is not applicable to Landlord’s interest and (b) Tenant’s Lender to amend such financing statement and any other documents of record to
clarify that any liens imposed thereby are not applicable to any interest of Landlord in the Premises, the Building or the Project. 

  
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 20. Estoppel Certificate. Tenant shall, within ten (10) business days of receipt of written
notice from Landlord, execute, acknowledge and deliver a statement in writing substantially in the form attached to this Lease as Exhibit I, or on any other form reasonably requested by a proposed Lender or purchaser, (a) certifying that
this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease as so modified is in full force and effect) and the dates to which rental and other charges are paid in
advance, if any, (b) acknowledging that there are not, to Tenant’s knowledge, any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any are claimed, and (c) setting forth such further information with
respect to this Lease or the Premises as may be requested thereon. Any such statement may be relied upon by any prospective purchaser or encumbrancer of all or any portion of the real property of which the Premises are a part. Tenant’s failure
to deliver such statement within such the prescribed time shall, at Landlord’s option, constitute a Default (as defined below) under this Lease, and, in any event, shall be binding upon Tenant that the Lease is in full force and effect and
without modification except as may be represented by Landlord in any certificate prepared by Landlord and delivered to Tenant for execution. 

21. Hazardous Materials. 

21.1. Tenant shall not cause or permit any Hazardous Materials (as defined below) to be brought upon, kept or used in or about the
Premises, the Building or the Project in violation of Applicable Laws by any Tenant Party. If (a) Tenant breaches such obligation, (b) the presence of Hazardous Materials as a result of such a breach results in contamination of the
Project, any portion thereof, or any adjacent property, (c) contamination of the Premises otherwise occurs during the Term or any extension or renewal hereof or holding over hereunder (other than if such contamination results from
(i) migration of Hazardous Materials from outside the Premises not caused by a Tenant Party or (ii) to the extent such contamination is solely caused by Landlord’s gross negligence or willful misconduct) or (d) contamination of
the Project occurs as a result of Hazardous Materials that are placed on or under or are released into the Project by a Tenant Party, then Tenant shall indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to
Landlord) and hold the Landlord Indemnitees harmless from and against any and all Claims, including (w) diminution in value of the Project or any portion thereof, (x) damages for the loss or restriction on use of rentable or usable space
or of any amenity of the Project, (y) damages arising from any adverse impact on marketing of space in the Project or any portion thereof and (z) sums paid in settlement of Claims that arise during or after the Term as a result of such
breach or contamination. This indemnification by Tenant includes costs incurred in connection with any investigation of site conditions or any clean-up, remedial, removal or restoration work required by any Governmental Authority because of
Hazardous Materials present in the air, soil or groundwater above, on or under or about the Project. Without limiting the foregoing, if the presence of any Hazardous Materials in, on, under or about the Project, any portion thereof or any adjacent
property caused or permitted by any Tenant Party results in any contamination of the Project, any portion thereof or any adjacent property, then Tenant shall promptly take all actions at its sole cost and expense as are necessary to return the
Project, any portion thereof or any adjacent property to its respective condition existing prior to the time of such contamination; provided that Landlord’s written approval of such action shall first be obtained, which approval Landlord
shall not unreasonably withhold; and provided, further, that it shall be reasonable for Landlord to withhold its consent if such actions could have a material adverse long-term or short-term effect on the Project, any portion thereof or any
adjacent property. In the event Landlord receives notice of a Claim for which Tenant is obligated to indemnify Landlord pursuant to this Section, then Landlord shall promptly provide notice to Tenant of such Claim, take all reasonable measures to
mitigate any damages thereunder and not enter into any settlement agreement without the express written consent of Tenant, which consent shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, and subject to
Sections 23.7, 28.2 and 31.12 and any subrogation provisions contained in the Work Letter, Landlord shall indemnify, save, defend (at Tenant’s option and with counsel reasonably acceptable to Tenant) and hold the Tenant
Parties harmless from and against any and all Claims resulting from (i) the presence of Hazardous Materials at the Project in violation of Applicable Laws as of the Term Commencement Date, unless placed at the Project by a Tenant Party and
(ii) Hazardous Materials released at the Project by Landlord or Landlord’s employees, agents or contractors after the Term Commencement Date in violation of Applicable Laws. In the event Tenant receives notice of a Claim for which Landlord
is obligated to indemnify Tenant pursuant to the preceding sentence, then Tenant shall promptly provide notice to Landlord of such Claim, take all reasonable measures to mitigate any damages thereunder and not enter into any settlement agreement
without the express written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed. 

  
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 21.2. Landlord acknowledges that it is not the intent of this Article to prohibit Tenant
from operating its business for the Permitted Use. Tenant may operate its business according to the custom of Tenant’s industry so long as the use or presence of Hazardous Materials is strictly and properly monitored in accordance with
Applicable Laws. As a material inducement to Landlord to allow Tenant to use Hazardous Materials in connection with its business, Tenant agrees to deliver to Landlord (a) a list identifying each type of Hazardous Material to be present at the
Premises that is subject to regulation under any environmental Applicable Laws, (b) a list of any and all approvals or permits from Governmental Authorities required in connection with the presence of such Hazardous Material at the Premises and
(c) correct and complete copies of (i) notices of violations of Applicable Laws related to Hazardous Materials and (ii) plans relating to the installation of any storage tanks to be installed in, on, under or about the Project
(provided that installation of storage tanks shall only be permitted after Landlord has given Tenant its written consent to do so, which consent Landlord may withhold in its sole and absolute discretion) and closure plans or any other
documents required by any and all Governmental Authorities for any storage tanks installed in, on, under or about the Project for the closure of any such storage tanks (collectively, “Hazardous Materials Documents”). Tenant shall
deliver to Landlord updated Hazardous Materials Documents (1) no later than thirty (30) days prior to the initial occupancy of any portion of the Premises or the initial placement of equipment anywhere at the Project, (m) if there are
any changes to the Hazardous Materials Documents, annually thereafter no later than December 31 of each year, and (n) thirty (30) days prior to the initiation by Tenant of any Alterations or changes in Tenant’s business that
involve any material increase in the types or amounts of Hazardous Materials. For each type of Hazardous Material listed, the Hazardous Materials Documents shall include (t) the chemical name, (u) the material state (e.g., solid, liquid,
gas or cryogen), (v) the concentration, (w) the storage amount and storage condition (e.g., in cabinets or not in cabinets), (x) the use amount and use condition (e.g., open use or closed use), (y) the location (e.g., room number
or other identification) and (z) if known, the chemical abstract service number. Notwithstanding anything in this Section to the contrary, Tenant shall not be required to provide Landlord with any Hazardous Materials Documents containing
information of a proprietary nature, which Hazardous Materials Documents, in and of themselves, do not contain a reference to any Hazardous Materials or activities related to Hazardous Materials. Landlord may, at Landlord’s expense, cause the
Hazardous Materials Documents to be reviewed by a person or firm qualified to analyze Hazardous Materials to confirm compliance with the provisions of this Lease and with Applicable Laws. In the event that a review of the Hazardous Materials
Documents indicates non-compliance with this Lease or Applicable Laws, Tenant shall, at its expense, diligently take steps to bring its storage and use of Hazardous Materials into compliance. 

  
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 21.3. Notwithstanding the provisions of Sections 21.1 21.2 or 21.9, if
(a) Tenant or any proposed transferee, assignee or sublessee of Tenant has been required by any prior landlord, Lender or Governmental Authority to take material remedial action in connection with Hazardous Materials contaminating a property if
the contamination resulted from such party’s action or omission or use of the property in question or (b) Tenant or any proposed transferee, assignee or sublessee is subject to a material enforcement order issued by any Governmental
Authority in connection with the use, disposal or storage of Hazardous Materials, then Landlord shall have the right to terminate this Lease in Landlord’s sole and absolute discretion (with respect to any such matter involving Tenant), and it
shall not be unreasonable for Landlord to withhold its consent to any proposed transfer, assignment or subletting (with respect to any such matter involving a proposed transferee, assignee or sublessee). 

21.4. At any time, and from time to time, prior to the expiration of the Term, Landlord shall have the right to conduct appropriate tests
of the Project or any portion thereof to demonstrate that Hazardous Materials are present or that contamination has occurred due to the acts or omissions of a Tenant Party. Tenant shall pay all reasonable costs of such tests if such tests reveal
that Hazardous Materials exist at the Project in violation of this Lease. 
 21.5. If underground or other storage tanks storing
Hazardous Materials installed or utilized by Tenant are located on the Premises, or are hereafter placed on the Premises by Tenant (or by any other party, if such storage tanks are utilized by Tenant), then Tenant shall monitor the storage tanks,
maintain appropriate records, implement reporting procedures, properly close any underground storage tanks, and take or cause to be taken all other steps necessary or required under the Applicable Laws. Tenant shall have no responsibility or
liability for underground or other storage tanks installed by anyone other than Tenant unless Tenant utilizes such tanks, in which case Tenant’s responsibility for such tanks shall be as set forth in this Section. 

21.6. Tenant shall promptly report to Landlord any actual or suspected presence of mold or water intrusion at the Premises. 

  
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 21.7. Tenant’s obligations under this Article shall survive the expiration or earlier
termination of the Lease. During any period of time needed by Tenant or Landlord after the termination of this Lease to complete the removal from the Premises of any such Hazardous Materials, Tenant shall be deemed a holdover tenant and subject to
the provisions of Article 27 below. 
 21.8. As used herein, the term “Hazardous Material” means any
hazardous or toxic substance, material or waste that is or becomes regulated by any Governmental Authority. 
 21.9.
Notwithstanding anything to the contrary in this Lease, Landlord shall have sole control over the equitable allocation of fire control areas (as defined in the Uniform Building Code as adopted by the city or municipality(ies) in which the Project is
located (the “UBC”)) within the Project for the storage of Hazardous Materials. Notwithstanding anything to the contrary in this Lease, the quantity of Hazardous Materials allowed by this Section 21.9 is specific to
Tenant and shall not run with the Lease in the event of a Transfer (as defined in Article 29). In the event of a Transfer, if the use of Hazardous Materials by such new tenant (“New Tenant”) is such that New Tenant utilizes
fire control areas in the Project in excess of New Tenant’s Pro Rata Share of the Building or the Project, as applicable, then New Tenant shall, at its sole cost and expense and upon Landlord’s written request, establish and maintain a
separate area of the Premises classified by the UBC as an “H” occupancy area for the use and storage of Hazardous Materials, or take such other action as is necessary to ensure that its share of the fire control areas of the Building and
the Project is not greater than New Tenant’s Pro Rata Share of the Building or the Project, as applicable. 
 22. Odors and Exhaust.
Tenant acknowledges that Landlord would not enter into this Lease with Tenant unless Tenant assured Landlord that under no circumstances will any other occupants of the Building or the Project (including persons legally present in any outdoor areas
of the Project) be subjected to odors or fumes (whether or not noxious), and that the Building and the Project will not be damaged by any exhaust, in each case from Tenant’s operations, including in Tenant’s vivarium. Landlord and Tenant
therefore agree as follows: 
 22.1. Tenant shall not cause or permit (or conduct any activities that would cause) any release
of any odors or fumes of any kind from the Premises. 
 22.2. If the Building has a ventilation system that, in Landlord’s
judgment, is adequate, suitable, and appropriate to vent the Premises in a manner that does not release odors affecting any indoor or outdoor part of the Project, Tenant shall vent the Premises through such system. If Landlord at any time determines
that any existing ventilation system is inadequate, or if no ventilation system exists, Tenant shall in compliance with Applicable Laws vent all fumes and odors from the Premises (and remove odors from Tenant’s exhaust stream) as Landlord
requires. The placement and configuration of all ventilation exhaust pipes, louvers and other equipment shall be subject to Landlord’s approval. Tenant acknowledges Landlord’s legitimate desire to maintain the Project (indoor and outdoor
areas) in an odor-free manner, and Landlord may require Tenant to abate and remove all odors in a manner that goes beyond the requirements of Applicable Laws. 

  
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 22.3. Tenant shall, at Tenant’s sole cost and expense, provide odor eliminators and
other devices (such as filters, air cleaners, scrubbers and whatever other equipment may in Landlord’s judgment be necessary or appropriate from time to time) to completely remove, eliminate and abate any odors, fumes or other substances in
Tenant’s exhaust stream that, in Landlord’s judgment, emanate from Tenant’s Premises. Any work Tenant performs under this Section shall constitute Alterations. 
 22.4. Tenant’s responsibility to remove, eliminate and abate odors, fumes and exhaust shall continue throughout the Term. Landlord’s construction of the Tenant Improvements shall not preclude
Landlord from requiring additional measures to eliminate odors, fumes and other adverse impacts of Tenant’s exhaust stream (as Landlord may designate in Landlord’s discretion). Tenant shall install additional equipment as Landlord requires
from time to time under the preceding sentence. Such installations shall constitute Alterations. 
 22.5. If Tenant fails to
install satisfactory odor control equipment within ten (10) business days after Landlord’s demand made at any time, then Landlord may, without limiting Landlord’s other rights and remedies, require Tenant to cease and suspend any
operations in the Premises that, in Landlord’s determination, cause odors, fumes or exhaust. For example, if Landlord determines that Tenant’s production of a certain type of product causes odors, fumes or exhaust, and Tenant does not
install satisfactory odor control equipment within ten (10) business days after Landlord’s request, then Landlord may require Tenant to stop producing such type of product in the Premises unless and until Tenant has installed odor control
equipment satisfactory to Landlord. 
 23. Insurance; Waiver of Subrogation. 

23.1. Landlord shall maintain insurance for the Building and the Project in amounts equal to full replacement cost (exclusive of the costs
of excavation, foundations and footings, and without reference to depreciation taken by Landlord upon its books or tax returns) or such lesser coverage as Landlord may elect, provided that such coverage shall not be less than ninety percent
(90%) of such full replacement cost or the amount of such insurance Landlord’s Lender, if any, requires Landlord to maintain, providing protection against any peril generally included within the classification “Fire and Extended
Coverage,” together with insurance against sprinkler damage (if applicable), vandalism and malicious mischief. Landlord, subject to availability thereof, shall further insure, if Landlord deems it appropriate, coverage against flood,
environmental hazard, earthquake, loss or failure of building equipment, rental loss during the period of repairs or rebuilding, workmen’s compensation insurance and fidelity bonds for employees employed to perform services. Notwithstanding the
foregoing, Landlord may, but shall not be deemed required to, provide insurance for any improvements installed by Tenant or that are in addition to the standard improvements customarily furnished by Landlord, without regard to whether or not such
are made a part of or are affixed to the Building. 
 23.2. In addition, Landlord shall carry public liability insurance with a
single limit of not less than One Million Dollars ($1,000,000) for death or bodily injury, or property damage with respect to the Project. 

  
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 23.3. Tenant shall, at its own cost and expense, procure and maintain in effect, beginning
on the Term Commencement Date or the date of occupancy, whichever occurs first, and continuing throughout the Term (and occupancy by Tenant, if any, after termination of this Lease) comprehensive public liability insurance (excluding products
liability) with limits of not less than Two Million Dollars ($2,000,000) per occurrence for death or bodily injury and for property damage with respect to the Premises (including $100,000 fire legal liability (each loss)). 

23.4. The insurance required to be purchased and maintained by Tenant pursuant to this Lease shall name Landlord, BioMed Realty, L.P.,
BioMed Realty Trust, Inc. and their respective officers, directors, employees, agents, general partners, members, subsidiaries, affiliates and Lenders (“Landlord Parties”) as additional insureds. Such insurance shall be with
companies authorized to do business in the state in which the Project is located and having a rating of not less than policyholder rating of A and financial category rating of at least Class XII in “Best’s Insurance Guide.” Tenant
shall obtain for Landlord from the insurance companies or cause the insurance companies to furnish certificates of coverage to Landlord. No such policy shall be cancelable or subject to reduction of coverage or other modification or cancellation
except after thirty (30) days’ prior written notice to Landlord from the insurer (except in the event of non-payment of premium, in which case ten (10) days written notice shall be given). All such policies shall be written as primary
policies, not contributing with and not in excess of the coverage that Landlord may carry. Tenant’s policy may be a “blanket policy” that specifically provides that the amount of insurance shall not be prejudiced by other losses
covered by the policy. Tenant shall, at least twenty (20) days prior to the expiration of such policies, furnish Landlord with renewals or binders. Tenant agrees that if Tenant does not take out and maintain such insurance, Landlord may (but
shall not be required to) procure such insurance on Tenant’s behalf and at its cost to be paid by Tenant as Additional Rent. 
 23.5. Tenant assumes the risk of damage to any fixtures, goods, inventory, merchandise, equipment and leasehold improvements, and Landlord shall not be liable for injury to Tenant’s business or any
loss of income therefrom, relative to such damage, all as more particularly set forth within this Lease. Tenant shall, at Tenant’s sole cost and expense, carry such insurance as Tenant desires for Tenant’s protection with respect to
personal property of Tenant or business interruption. 
 23.6. In each instance where insurance is to name Landlord Parties as
additional insureds, Tenant shall, upon Landlord’s written request, also designate and furnish certificates evidencing such Landlord Parties as additional insureds to (a) any Lender of Landlord holding a security interest in the Building,
the Property or the Project, (b) the landlord under any lease whereunder Landlord is a tenant of the Property if the interest of Landlord is or shall become that of a tenant under a ground lease rather than that of a fee owner and (c) any
management company retained by Landlord to manage the Project. 

  
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 23.7. Landlord and Tenant each hereby waive any and all rights of recovery against the other
or against the officers, directors, employees, agents, general partners, members, subsidiaries, affiliates and Lenders of the other on account of loss or damage occasioned by such waiving party or its property or the property of others under such
waiving party’s control, in each case to the extent that such loss or damage is insured against under any fire and extended coverage insurance policy that either Landlord or Tenant may have in force at the time of such loss or damage. Such
waivers shall continue so long as their respective insurers so permit. Any termination of such a waiver shall be by written notice to the other party, containing a description of the circumstances hereinafter set forth in this Section. Landlord and
Tenant, upon obtaining the policies of insurance required or permitted under this Lease, shall give notice to the insurance carrier or carriers that the foregoing mutual waiver of subrogation is contained in this Lease. If such policies shall not be
obtainable with such waiver or shall be so obtainable only at a premium over that chargeable without such waiver, then the party seeking such policy shall notify the other of such conditions, and the party so notified shall have ten (10) days
thereafter to either (a) procure such insurance with companies reasonably satisfactory to the other party or (b) agree to pay such additional premium (in Tenant’s case, in the proportion that the area of the Premises bears to the
insured area). If the parties do not accomplish either (a) or (b), then this Section shall have no effect during such time as such policies shall not be obtainable or the party in whose favor a waiver of subrogation is desired refuses to pay
the additional premium. If such policies shall at any time be unobtainable, but shall be subsequently obtainable, then neither party shall be subsequently liable for a failure to obtain such insurance until a reasonable time after notification
thereof by the other party. If the release of either Landlord or Tenant, as set forth in the first sentence of this Section, shall contravene Applicable Laws, then the liability of the party in question shall be deemed not released but shall be
secondary to the other party’s insurer. 
 23.8. Landlord may require insurance policy limits required under this Lease to
be raised to conform with requirements of Landlord’s Lender or to bring coverage limits to levels then being required of new tenants within the Project. 
 23.9. Any costs incurred by Landlord pursuant to this Article shall constitute a portion of Operating Expenses. 
 24. Damage or Destruction. 
 24.1. In the event of a partial destruction of
(a) the Premises or (b) Common Areas of the Building or the Project ((a) and (b) together, the “Affected Areas”) by fire or other perils covered by extended coverage insurance not exceeding twenty-five percent
(25%) of the full insurable value thereof, and provided that (x) the damage thereto is such that the Affected Areas may be repaired, reconstructed or restored within a period of six (6) months from the date of the happening of
such casualty, (y) Landlord shall receive insurance proceeds sufficient to cover the cost of such repairs, reconstruction and restoration (except for any deductible amount provided by Landlord’s policy, which deductible amount, if paid by
Landlord, shall constitute an Operating Expense) and (z) such casualty was not intentionally caused by a Tenant Party, then Landlord shall commence and proceed diligently with the work of repair, reconstruction and restoration of the Affected
Areas and this Lease shall continue in full force and effect. 

  
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 24.2. In the event of any damage to or destruction of the Building or the Project other than
as described in Section 24.1, Landlord may elect to repair, reconstruct and restore the Building or the Project, as applicable, in which case this Lease shall continue in full force and effect. If Landlord elects not to repair,
reconstruct and restore the Building or the Project, as applicable, then this Lease shall terminate as of the date of such damage or destruction. In the event of any damage or destruction (regardless of whether such damage is governed by Section
24.1 or this Section), if (a) in Landlord’s determination as set forth in the Damage Repair Estimate (as defined below), the Affected Areas cannot be repaired, reconstructed or restored within twelve (12) months after the date of
the Damage Repair Estimate, (b) subject to Section 24.6, the Affected Areas are not actually repaired, reconstructed and restored within eighteen (18) months after the date of the Damage Repair Estimate, or (c) the damage
and destruction occurs within the last six (6) months of the then-current Term, then Tenant shall have the right to terminate this Lease, effective as of the date of such damage or destruction, by delivering to Landlord its written notice of
termination (a “Termination Notice”) (y) with respect to Subsections 24.2(a) and (c), no later than fifteen (15) days after Landlord delivers to Tenant Landlord’s Damage Repair Estimate and (z) with
respect to Subsection 24.2(b), no later than fifteen (15) days after such twelve (12) month period (as the same may be extended pursuant to Section 24.6) expires. If Tenant provides Landlord with a Termination Notice
pursuant to Subsection 24.2(z), Landlord shall have an additional thirty (30) days after receipt of such Termination Notice to complete the repair, reconstruction and restoration. If Landlord does not complete such repair, reconstruction
and restoration within such thirty (30) day period, then Tenant may terminate this Lease by giving Landlord written notice within two (2) business days after the expiration of such thirty (30) day period. If Landlord does complete
such repair, reconstruction and restoration within such thirty (30) day period, then this Lease shall continue in full force and effect. 
 24.3. Landlord shall give written notice to Tenant within sixty (60) days following the date of damage or destruction of its election not to repair, reconstruct or restore the Building or the
Project, as applicable. 
 24.4. Upon any termination of this Lease under any of the provisions of this Article, the parties
shall be released thereby without further obligation to the other from the date possession of the Premises is surrendered to Landlord, except with regard to (a) items occurring prior to the damage or destruction and (b) provisions of this
Lease that, by their express terms, survive the expiration or earlier termination hereof. 
 24.5. In the event of damage to the
Premises governed by this Article, all Rent to be paid by Tenant under this Lease shall be abated proportionately based on the extent to which Tenant’s use of the Premises is impaired during the period of such damage, unless Landlord provides
Tenant with other space during the period of repair, reconstruction and restoration that, in Tenant’s reasonable opinion, is suitable for the temporary conduct of Tenant’s business. 

24.6. Notwithstanding anything to the contrary contained in this Article, should Landlord be delayed or prevented from completing the
repair, reconstruction or restoration of the damage or destruction to the Premises after the occurrence of such damage or destruction by Force Majeure or delays caused by a Tenant Party, then the time for Landlord to commence or complete repairs,
reconstruction and restoration shall be extended on a day-for-day basis; provided, however, that, at Landlord’s election, Landlord shall be relieved of its obligation to make such repairs, reconstruction and restoration. 

  
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 24.7. If Landlord is obligated to or elects to repair, reconstruct or restore as herein
provided, then Landlord shall be obligated to make such repairs, reconstruction or restoration only with regard to (a) those portions of the Premises that were originally provided at Landlord’s expense and (b) the Common Area portion
of the Affected Areas. The repairs, reconstruction or restoration of improvements not originally provided by Landlord or at Landlord’s expense shall be the obligation of Tenant. In the event Tenant has elected to upgrade certain improvements
from the Building Standard, Landlord shall, upon the need for replacement due to an insured loss, provide only the Building Standard, unless Tenant again elects to upgrade such improvements and pay any incremental costs related thereto, except to
the extent that excess insurance proceeds, if received, are adequate to provide such upgrades, in addition to providing for basic repairs, reconstruction and restoration of the Premises, the Building and the Project. 

24.8. Notwithstanding anything to the contrary contained in this Article, Landlord shall not have any obligation whatsoever to repair,
reconstruct or restore the Premises if the damage resulting from any casualty covered under this Article occurs during the last twenty-four (24) months of the Term or any extension thereof, or to the extent that insurance proceeds are not
available therefor. 
 24.9. Landlord’s obligation, should it elect or be obligated to repair, reconstruct or restore,
shall be limited to the Affected Areas. Tenant shall, at its expense, replace or fully repair all of Tenant’s personal property and any Alterations installed by Tenant existing at the time of such damage or destruction. If Affected Areas are to
be repaired, reconstructed or restored in accordance with the foregoing, Landlord shall make available to Tenant any portion of insurance proceeds it receives that are allocable to the Alterations constructed by Tenant pursuant to this Lease;
provided Tenant is not then in default under this Lease, and subject to the requirements of any Lender of Landlord. 
 25. Eminent
Domain. 
 25.1. In the event (a) the whole of all Affected Areas or (b) such part thereof as shall substantially
interfere with Tenant's use and occupancy of the Premises for the Permitted Use (including a material reduction in the parking ratio at the Project) shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise
of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to such authority, except with regard to
(y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof. 
 25.2. In the event of a partial taking of (a) the Building or the Project or (b) drives, walkways or parking areas serving the Building or the Project for any public or quasi-public purpose by
any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to
terminate this Lease (except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is,
in Landlord's sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting office or laboratory space. 

25.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant’s
personal property that was installed at Tenant’s expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord. 

  
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 25.4. If, upon any taking of the nature described in this Article, this Lease continues in
effect, then Landlord shall promptly proceed to restore the Affected Areas to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute
discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant. 
 26.
Surrender. 
 26.1. At least ten (10) days prior to Tenant's surrender of possession of any part of the Premises,
Tenant shall provide Landlord with (a) a facility decommissioning and Hazardous Materials closure plan for the Premises (“Exit Survey”') prepared by an independent third party reasonably acceptable to Landlord, (b) written
evidence of all appropriate governmental releases obtained by Tenant in accordance with Applicable Laws, including laws pertaining to the surrender of the Premises, and (c) proof that the Premises have been decommissioned in accordance with
American National Standards Institute (“ANSI”) Publication Z9.11-2008 (entitled “Laboratory Decommissioning”) or any successor standards published by ANSI or any successor organization (or, if ANSI and its successors no
longer exist, a similar entity publishing similar standards). In addition, Tenant agrees to remain responsible after the surrender of the Premises for the remediation of any recognized environmental conditions set forth in the Exit Survey and
compliance with any recommendations set forth in the Exit Survey. Tenant’s obligations under this Section shall survive the expiration or earlier termination of the Lease. 

26.2. No surrender of possession of any part of the Premises shall release Tenant from any of its obligations hereunder, unless such
surrender is accepted in writing by Landlord. 
 26.3. The voluntary or other surrender of this Lease by Tenant shall not effect
a merger with Landlord’s fee title or leasehold interest in the Premises, the Building, the Property or the Project, unless Landlord consents in writing, and shall, at Landlord’s option, operate as an assignment to Landlord of any or all
subleases. 
 26.4. The voluntary or other surrender of any ground or other underlying lease that now exists or may hereafter be
executed affecting the Building or the Project, or a mutual cancellation thereof or of Landlord’s interest therein by Landlord and its lessor shall not effect a merger with Landlord’s fee title or leasehold interest in the Premises, the
Building or the Property and shall, at the option of the successor to Landlord's interest in the Building or the Project, as applicable, operate as an assignment of this Lease. 
 27. Holding Over. 
 27.1. If, with Landlord’s prior written consent,
Tenant holds possession of all or any part of the Premises after the Term, Tenant shall become a tenant from month to month after the expiration or earlier termination of the Term, and in such case Tenant shall continue to pay (a) Base Rent in
accordance with Article 7, as adjusted in accordance with Article 8, and (b) any amounts for which Tenant would otherwise be liable under this Lease if the Lease were still in effect, including payments for Tenant’s Share of
Operating Expenses. Any such month-to-month tenancy shall be subject to every other term, covenant and agreement contained herein. 

  
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 27.2. Notwithstanding the foregoing, if Tenant remains in possession of the Premises after
the expiration or earlier termination of the Term without Landlord’s prior written consent, (a) Tenant shall become a tenant at sufferance subject to the terms and conditions of this Lease, except that the monthly rent shall be equal to
one hundred fifty percent (150%) of the Rent in effect during the last thirty (30) days of the Term, and (b) Tenant shall be liable to Landlord for any and all damages suffered by Landlord as a result of such holdover, including any
lost rent or consequential, special and indirect damages. 
 27.3. Acceptance by Landlord of Rent after the expiration or
earlier termination of the Term shall not result in an extension, renewal or reinstatement of this Lease. 
 27.4. The foregoing
provisions of this Article are in addition to and do not affect Landlord’s right of reentry or any other rights of Landlord hereunder or as otherwise provided by Applicable Laws. 
 28. Indemnification and Exculpation. 
 28.1. Tenant agrees to indemnify,
save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold the Landlord Indemnitees harmless from and against any and all Claims arising from injury or death to any person or damage to any property occurring
within or about the Premises, the Building, the Property or the Project arising directly or indirectly out of a Tenant Party’s use or occupancy of the Premises or a breach or default by Tenant in the performance of any of its obligations
hereunder, except to the extent caused by Landlord’s negligence or willful misconduct. In the event Landlord receives notice of a Claim for which Tenant is obligated to indemnify Landlord pursuant to the preceding sentence, then Landlord shall
(a) promptly provide notice to Tenant of such Claim, (b) take all reasonable measures to mitigate any damages thereunder and (c) not enter into any settlement agreement without the express written consent of Tenant, which consent
shall not be unreasonably withheld, conditioned or delayed. Subject to Sections 23.7, 28.2 and 31.12 and any subrogation provisions contained in the Work Letter, Landlord agrees to indemnify, save, defend (at Tenant's option and
with counsel reasonably acceptable to Tenant) and hold the Tenant Parties harmless from and against any and all Claims arising from injury or death to any person or damage to any property occurring within or about the Premises, the Building, the
Property or the Project arising out of Landlord’s gross negligence or willful misconduct. In the event Tenant receives notice of a Claim for which Landlord is obligated to indemnify Tenant pursuant to the preceding sentence, then Tenant shall
(x) promptly provide notice to Landlord of such Claim, (y) take all reasonable measures to mitigate any damages thereunder and (z) not enter into any settlement agreement without the express written consent of Landlord, which consent
shall not be unreasonably withheld, conditioned or delayed. 

  
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 28.2. Notwithstanding anything in this Lease to the contrary, Landlord shall not be liable
to Tenant for and Tenant assumes all risk of (a) damage or losses caused by fire, electrical malfunction, gas explosion, water damage of any type (including broken water lines, malfunctioning fire sprinkler systems, roof leaks or stoppages of
lines), unless any such loss is due to Landlord’s willful disregard of written notice by Tenant of need for a repair that Landlord is responsible to make for an unreasonable period of time, and (b) damage to personal property or scientific
research, including loss of records kept by Tenant within the Premises. Tenant further waives any claim for injury to Tenant’s business or loss of income relating to any such damage or destruction of personal property as described in this
Section. Notwithstanding anything in the foregoing or this Lease to the contrary, except (x) as otherwise provided herein, (y) as may be provided by Applicable Laws or (z) in the event of Tenant’s breach of Article 21 or
Section 26.1, in no event shall Landlord or Tenant be liable to the other for any consequential, special or indirect damages arising out of this Lease. 
 28.3. Landlord shall not be liable for any damages arising from any act, omission or neglect of any other tenant in the Building or the Project, or of any other third party. 

28.4. Tenant acknowledges that security devices and services, if any, while intended to deter crime, may not in given instances prevent
theft or other criminal acts. Landlord shall not be liable for injuries or losses caused by criminal acts of third parties, and Tenant assumes the risk that any security device or service may malfunction or otherwise be circumvented by a criminal.
If Tenant desires protection against such criminal acts, then Tenant shall, at Tenant’s sole cost and expense, obtain appropriate insurance coverage. 
 28.5. The provisions of this Article shall survive the expiration or earlier termination of this Lease. 
 29. Assignment or Subletting. 
 29.1. Except as hereinafter expressly
permitted, Tenant shall not, either voluntarily or by operation of Applicable Laws, directly or indirectly sell, hypothecate, assign, pledge, encumber or otherwise transfer this Lease, or sublet the Premises (each, a “Transfer”),
without Landlord’s prior written consent, which consent shall not unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, Tenant shall have the right to Transfer without Landlord’s prior written consent the Premises
or any part thereof to any person or entity that (a) directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with Tenant, (b) results from a merger, consolidation, reorganization
or dissolution of Tenant or (c) acquires all or substantially all of the stock, membership interests, partnership interests or assets of Tenant ((a), (b) and (c), each, a “Tenant’s Affiliate”), provided that
Tenant shall notify Landlord in writing at least ten (10) days prior to the effectiveness of such Transfer to Tenant’s Affiliate (an “Exempt Transfer”) (provided that Landlord shall comply with any Tenant-requested
reasonable and appropriate confidentiality requirements with respect to such notification) and otherwise comply with the requirements of this Lease regarding such Transfer; and provided, further, that the person or entity that constitutes
Tenant after the consummation of the Exempt Transfer will have a net worth equal to or greater than Tenant’s net worth immediately prior to consummation of the Exempt Transfer. For purposes of Exempt Transfers, “control” requires both
(m) owning (directly or indirectly) more than fifty percent (50%) of the stock or other equity interests of another person and (n) possessing, directly or indirectly, the power to direct or cause the direction of the management and
policies of such person. In no event shall Tenant perform a Transfer to or with an entity that is a tenant at the Project or that is in discussions or negotiations with Landlord or an affiliate of Landlord to lease premises at the Project or a
property owned by Landlord or an affiliate of Landlord. Notwithstanding anything to the contrary in this Lease, the sale or offering of stock or ownership interest in Tenant shall not be deemed a Transfer for purposes of this Lease and shall not
require Landlord’s consent if (y) such sale or transfer occurs in connection with any bona fide financing or capitalization for the benefit of Tenant or (z) such sale or offering is in connection with an initial public offering.

  
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 29.2. In the event Tenant desires to effect a Transfer, then, at least thirty (30) but
not more than ninety (90) days prior to the date when Tenant desires the assignment or sublease to be effective (the “Transfer Date”), Tenant shall provide written notice to Landlord (the “Transfer Notice”)
containing information (including references) concerning the character of the proposed transferee, assignee or sublessee; the Transfer Date; any ownership or commercial relationship between Tenant and the proposed transferee, assignee or sublessee;
and the consideration and all other material terms and conditions of the proposed Transfer, all in such detail as Landlord shall reasonably require. 
 29.3. Landlord, in determining whether consent should be given to a proposed Transfer, may give consideration to (a) the financial strength of such transferee, assignee or sublessee (notwithstanding
Tenant remaining liable for Tenant’s performance), (b) any change in use that such transferee, assignee or sublessee proposes to make in the use of the Premises and (c) Landlord’s desire to exercise its rights under
Section 29.8 to cancel this Lease. In no event shall Landlord be deemed to be unreasonable for declining to consent to a Transfer to a transferee, assignee or sublessee of poor reputation, lacking financial qualifications or seeking a
change in the Permitted Use, or jeopardizing directly or indirectly the status of Landlord or any of Landlord’s affiliates as a Real Estate Investment Trust under the Internal Revenue Code of 1986 (as the same may be amended from time to time,
the “Revenue Code”). Notwithstanding anything contained in this Lease to the contrary, (w) no Transfer shall be consummated on any basis such that the rental or other amounts to be paid by the occupant, assignee, manager or
other transferee thereunder would be based, in whole or in part, on the income or profits derived by the business activities of such occupant, assignee, manager or other transferee; (x) Tenant shall not furnish or render any services to an
occupant, assignee, manager or other transferee with respect to whom transfer consideration is required to be paid, or manage or operate the Premises or any capital additions so transferred, with respect to which transfer consideration is being
paid; (y) Tenant shall not consummate a Transfer with any person in which Landlord owns an interest, directly or indirectly (by applying constructive ownership rules set forth in Section 856(d)(5) of the Revenue Code); and (z) Tenant
shall not consummate a Transfer with any person or in any manner that could cause any portion of the amounts received by Landlord pursuant to this Lease or any sublease, license or other arrangement for the right to use, occupy or possess any
portion of the Premises to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Revenue Code, or any similar or successor provision thereto or which could cause any other income of Landlord to fail
to qualify as income described in Section 856(c)(2) of the Revenue Code. 
 29.4. The following are conditions precedent to
a Transfer (including any Exempt Transfer) or to Landlord considering a request by Tenant to a Transfer: 

  
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 (a) Tenant shall remain fully liable under this Lease during the unexpired Term; 

(b) Tenant shall provide Landlord with evidence reasonably satisfactory to Landlord that the value of Landlord’s interest under this
Lease shall not be diminished or reduced by the proposed Transfer. Such evidence shall include evidence respecting the relevant business experience and financial responsibility and status of the proposed transferee, assignee or sublessee;

 (c) Except in connection with an Exempt Transfer, Tenant shall reimburse Landlord for Landlord’s actual costs and
expenses, including reasonable attorneys’ fees, charges and disbursements incurred in connection with the review, processing and documentation of such request (provided that such costs and expenses do not exceed Two Thousand Five Hundred
Dollars ($2,500) in any one instance); 
 (d) If Tenant’s transfer of rights or sharing of the Premises provides for the
receipt by, on behalf of or on account of Tenant of any consideration of any kind whatsoever (including a premium rental for a sublease or lump sum payment for an assignment, but excluding Tenant’s reasonable costs in marketing and subleasing
the Premises) in excess of the rental and other charges due to Landlord under this Lease, Tenant shall pay fifty percent (50%) of all of such excess to Landlord, after making deductions for any reasonable marketing expenses, tenant improvement
funds expended by Tenant, alterations, cash concessions, brokerage commissions, attorneys’ fees, free rent and any other reasonable amounts paid or costs incurred by Tenant in connection with such transfer. If such consideration consists of
cash paid to Tenant, payment to Landlord shall be made upon receipt by Tenant of such cash payment; 
 (e) The proposed
transferee, assignee or sublessee shall agree that, in the event Landlord gives such proposed transferee, assignee or sublessee notice that Tenant is in default under this Lease, such proposed transferee, assignee or sublessee shall thereafter make
all payments otherwise due Tenant directly to Landlord, which payments shall be received by Landlord without any liability being incurred by Landlord, except to credit such payment against those due by Tenant under this Lease, and any such proposed
transferee, assignee or sublessee shall agree to attorn to Landlord or its successors and assigns should this Lease be terminated for any reason; provided, however, that in no event shall Landlord or its Lenders, successors or assigns be
obligated to accept such attornment; 
 (f) Landlord’s consent to any such Transfer shall be effected on Landlord’s
forms; 
 (g) Tenant shall not then be in default hereunder in any respect; 

(h) Such proposed transferee, assignee or sublessee’s use of the Premises shall be the same as the Permitted Use; 

(i) Landlord shall not be bound by any provision of any agreement pertaining to the Transfer, except for Landlord’s written consent
to the same; 

  
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 (j) Tenant shall pay all transfer and other taxes (including interest and penalties)
assessed or payable for any Transfer; 
 (k) Landlord’s consent (or waiver of its rights) for any Transfer shall not waive
Landlord’s right to consent to any later Transfer; 
 (1) Tenant shall deliver to Landlord one executed copy of any and all
written instruments evidencing or relating to the Transfer; and 
 (m) A list of Hazardous Materials (as defined in
Section 21.7), certified by the proposed transferee, assignee or sublessee to be true and correct, that the proposed transferee, assignee or sublessee intends to use or store in the Premises. Additionally, Tenant shall deliver to
Landlord, on or before the date any proposed transferee, assignee or sublessee takes occupancy of the Premises, all of the items relating to Hazardous Materials of such proposed transferee, assignee or sublessee as described in
Section 21.2. 
 29.5. Any Transfer that is not in compliance with the provisions of this Article shall be void and
shall, at the option of Landlord, terminate this Lease. 
 29.6. The consent by Landlord to a Transfer shall not relieve Tenant
or proposed transferee, assignee or sublessee from obtaining Landlord’s consent to any further Transfer, nor shall it release Tenant or any proposed transferee, assignee or sublessee of Tenant from full and primary liability under this Lease.

 29.7. Notwithstanding any Transfer, Tenant shall remain fully and primarily liable for the payment of all Rent and other sums
due or to become due hereunder, and for the full performance of all other terms, conditions and covenants to be kept and performed by Tenant. The acceptance of Rent or any other sum due hereunder, or the acceptance of performance of any other term,
covenant or condition thereof, from any person or entity other than Tenant shall not be deemed a waiver of any of the provisions of this Lease or a consent to any Transfer. 
 29.8. If Tenant delivers to Landlord a Transfer Notice indicating a desire to transfer this Lease to a proposed transferee, assignee or sublessee other than as provided within Section 29.4,
then Landlord shall have the option, exercisable by giving notice to Tenant at any time within ten (10) days after Landlord’s receipt of such Transfer Notice, to terminate this Lease as of the date specified in the Transfer Notice as the
Transfer Date, except for those provisions that, by their express terms, survive the expiration or earlier termination hereof. If Landlord exercises such option, then Tenant shall have the right to withdraw such Transfer Notice by delivering to
Landlord written notice of such election within five (5) days after Landlord’s delivery of notice electing to exercise Landlord’s option to terminate this Lease. In the event Tenant withdraws the Transfer Notice as provided in this
Section, this Lease shall continue in full force and effect. No failure of Landlord to exercise its option to terminate this Lease shall be deemed to be Landlord’s consent to a proposed Transfer. 

29.9. If Tenant sublets the Premises or any portion thereof, Tenant hereby immediately and irrevocably assigns to Landlord, as security
for Tenant’s obligations under this Lease, all rent from any such subletting, and appoints Landlord as assignee and attorney-in-fact for Tenant, and Landlord (or a receiver for Tenant appointed on Landlord’s application) may collect such
rent and apply it toward Tenant’s obligations under this Lease; provided that, until the occurrence of a Default (as defined below) by Tenant, Tenant shall have the right to collect such rent. 

  
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 30. Subordination and Attornment. 

30.1. This Lease shall be subject and subordinate to the lien of any mortgage, deed of trust, or lease in which Landlord is tenant now or
hereafter in force against the Building or the Project and to all advances made or hereafter to be made upon the security thereof without the necessity of the execution and delivery of any further instruments on the part of Tenant to effectuate such
subordination. 
 30.2. Notwithstanding the foregoing, Tenant shall execute and deliver upon demand such further instrument or
instruments evidencing such subordination of this Lease to the lien of any such mortgage or mortgages or deeds of trust or lease in which Landlord is tenant as may be required by Landlord. If any such mortgagee, beneficiary or landlord under a lease
wherein Landlord is tenant (each, a “Mortgagee”) so elects, however, this Lease shall be deemed prior in lien to any such lease, mortgage, or deed of trust upon or including the Premises regardless of date and Tenant shall execute a
statement in writing to such effect at Landlord’s request. If Tenant fails to execute any document required from Tenant under this Section within ten (10) days after written request therefor, Tenant hereby constitutes and appoints Landlord
or its special attorney-in-fact to execute and deliver any such document or documents in the name of Tenant. Such power is coupled with an interest and is irrevocable. 
 30.3. Upon written request of Landlord and opportunity for Tenant to review, Tenant agrees to execute any Lease amendments not materially altering the terms of this Lease, if required by a mortgagee or
beneficiary of a deed of trust encumbering real property of which the Premises constitute a part incident to the financing of the real property of which the Premises constitute a part. 

30.4. In the event any proceedings are brought for foreclosure, or in the event of the exercise of the power of sale under any mortgage
or deed of trust made by Landlord covering the Premises, Tenant shall at the election of the purchaser at such foreclosure or sale attorn to the purchaser upon any such foreclosure or sale and recognize such purchaser as Landlord under this Lease.

  

	31.	Defaults and Remedies. 

31.1. Late payment by Tenant to Landlord of Rent and other sums due shall cause Landlord to incur costs not contemplated by this Lease,
the exact amount of which shall be extremely difficult and impracticable to ascertain. Such costs include processing and accounting charges and late charges that may be imposed on Landlord by the terms of any mortgage or trust deed covering the
Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within three (3) business days after the date such payment is due, Tenant shall pay to Landlord (a) an additional sum of three percent (3%) of
the overdue Rent as a late charge plus (b) interest at an annual rate (the “Default Rate”) equal to the lesser of (a) twelve percent (12%) and (b) the highest rate permitted by Applicable Laws. The parties agree
that this late charge represents a fair and reasonable estimate of the costs that Landlord shall incur by reason of late payment by Tenant and shall be payable as Additional Rent to Landlord due with the next installment of Rent or within five
(5) business days after Landlord’s demand, whichever is earlier. Landlord’s acceptance of any Additional Rent (including a late charge or any other amount hereunder) shall not be deemed an extension of the date that Rent is due or
prevent Landlord from pursuing any other rights or remedies under this Lease, at law or in equity. 

  
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 31.2. No payment by Tenant or receipt by Landlord of a lesser amount than the Rent payment
herein stipulated shall be deemed to be other than on account of the Rent, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as Rent be deemed an accord and satisfaction, and Landlord may accept such
check or payment without prejudice to Landlord’s right to recover the balance of such Rent or pursue any other remedy provided in this Lease or in equity or at law. If a dispute shall arise as to any amount or sum of money to be paid by Tenant
to Landlord hereunder, Tenant shall have the right to make payment “under protest,” such payment shall not be regarded as a voluntary payment, and there shall survive the right on the part of Tenant to institute suit for recovery of the
payment paid under protest. 
 31.3. If Tenant fails to pay any sum of money required to be paid by it hereunder or perform any
other act on its part to be performed hereunder, in each case within the applicable cure period (if any) described in Section 31.4, then Landlord may (but shall not be obligated to), without waiving or releasing Tenant from any
obligations of Tenant, make such payment or perform such act; provided that such failure by Tenant unreasonably interfered with the use of the Building or the Project by any other tenant or with the efficient operation of the Building or the
Project, or resulted or could have resulted in a violation of Applicable Laws or the cancellation of an insurance policy maintained by Landlord. Notwithstanding the foregoing, in the event of an emergency, Landlord shall have the right to enter the
Premises and act in accordance with its rights as provided elsewhere in this Lease. In addition to the late charge described in Section 31.1, Tenant shall pay to Landlord as Additional Rent all sums so paid or incurred by Landlord,
together with interest at the Default Rate, computed from the date such sums were paid or incurred. 
 31.4. The occurrence of
any one or more of the following events shall constitute a “Default” hereunder by Tenant: 
 (a) Tenant
abandons or vacates the Premises; 
 (b) Tenant fails to make any payment of Rent, as and when due, or to satisfy its
obligations under Article 19, where such failure shall continue for a period of three (3) days after written notice thereof from Landlord to Tenant; 
 (c) Tenant fails to observe or perform any obligation or covenant contained herein (other than described in Subsections 31.4(a) and 31.4(b)) to be performed by Tenant, where such failure
continues for a period of ten (10) days after written notice thereof from Landlord to Tenant; provided that, if the nature of Tenant’s default is such that it reasonably requires more than ten (10) days to cure, Tenant shall
not be deemed to be in Default if Tenant commences such cure within such ten (10) day period and thereafter diligently prosecute the same to completion; and provided, further, that such cure is completed no later than thirty
(30) days after Tenant’s receipt of written notice from Landlord; 

  
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 (d) Tenant makes an assignment for the benefit of creditors; 

(e) A receiver, trustee or custodian is appointed to or does take title, possession or control of all or substantially all of
Tenant’s assets; 
 (f) Tenant files a voluntary petition under the United States Bankruptcy Code or any successor statute
(as the same may be amended from time to time, the “Bankruptcy Code”) or an order for relief is entered against Tenant pursuant to a voluntary or involuntary proceeding commenced under any chapter of the Bankruptcy Code; 

(g) Any involuntary petition is filed against Tenant under any chapter of the Bankruptcy Code and is not dismissed within one hundred
twenty (120) days; 
 (h) A default by Tenant exists under the SVB Lease, after the expiration of any applicable notice and
cure periods; 
 (i) Tenant fails to deliver an estoppel certificate in accordance with Article 20; or 

(j) Tenant’s interest in this Lease is attached, executed upon or otherwise judicially seized and such action is not released within
one hundred twenty (120) days of the action. 
 Notices given under this Section shall specify the alleged default and
shall demand that Tenant perform the provisions of this Lease or pay the Rent that is in arrears, as the case may be, within the applicable period of time, or quit the Premises. No such notice shall be deemed a forfeiture or a termination of this
Lease unless Landlord elects otherwise in such notice. 
 31.5. In the event of a Default by Tenant, and at any time thereafter,
with or without notice or demand and without limiting Landlord in the exercise of any right or remedy that Landlord may have, Landlord has the right to do any or all of the following: 

(a) Halt any Tenant Improvements and Alterations and order Tenant’s contractors, subcontractors, consultants, designers and material
suppliers to stop work; 
 (b) Terminate Tenant’s right to possession of the Premises by written notice to Tenant or by any
lawful means, in which case Tenant shall immediately surrender possession of the Premises to Landlord. In such event, Landlord shall have the immediate right to re-enter and remove all persons and property, and such property may be removed and
stored in a public warehouse or elsewhere at the cost and for the account of Tenant, all without service of notice or resort to legal process and without being deemed guilty of trespass or becoming liable for any loss or damage that may be
occasioned thereby; and 

  
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 (c) Terminate this Lease, in which event Tenant shall immediately surrender possession of
the Premises to Landlord. In such event, Landlord shall have the immediate right to re-enter and remove all persons and property, and such property may be removed and stored in a public warehouse or elsewhere at the cost and for the account of
Tenant, all without service of notice or resort to legal process and without being deemed guilty of trespass or becoming liable for any loss or damage that may be occasioned thereby. In the event that Landlord shall elect to so terminate this Lease,
then Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default, including: 
 (i) The worth at the time of award of any unpaid Rent that had accrued at the time of such termination; plus 
 (ii) The worth at the time of award of the amount by which the unpaid Rent that would have accrued during the period commencing with termination of the Lease and ending at the time of award exceeds that
portion of the loss of Landlord’s rental income from the Premises that Tenant proves to Landlord’s reasonable satisfaction could have been reasonably avoided; plus 
 (iii) The worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds that portion of the loss of Landlord’s rental income from the
Premises that Tenant proves to Landlord’s reasonable satisfaction could have been reasonably avoided; plus 
 (iv) Any
other amount necessary to compensate Landlord for all the detriment caused by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom, including the cost of
restoring the Premises to the condition required under the terms of this Lease, including any rent payments not otherwise chargeable to Tenant (e.g., during any “free” rent period or rent holiday); plus 

(v) At Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by
Applicable Laws. 
 As used in Subsections 31.5(c)(i) and 31.5(c)(ii), “worth at the time of award” shall be computed by
allowing interest at the Default Rate. As used in Subsection 31.5(c)(iii), the “worth at the time of the award” shall be computed by taking the present value of such amount, using the discount rate of the Federal Reserve Bank of San
Francisco at the time of the award plus one (1) percentage point. 
 31.6. In addition to any other remedies available to
Landlord at law or in equity and under this Lease, Landlord shall have the remedy described in California Civil Code Section 1951.4 and may continue this Lease in effect after Tenant’s Default and abandonment and recover Rent as it becomes
due, provided Tenant has the right to sublet or assign, subject only to reasonable limitations. In addition, Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Premises. For purposes of this Section,
the following acts by Landlord will not constitute the termination of Tenant’s right to possession of the Premises: 

  
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 (a) Acts of maintenance or preservation or efforts to relet the Premises, including
alterations, remodeling, redecorating, repairs, replacements or painting as Landlord shall consider advisable for the purpose of reletting the Premises or any part thereof; or 
 (b) The appointment of a receiver upon the initiative of Landlord to protect Landlord’s interest under this Lease or in the Premises. 
 Notwithstanding the foregoing, in the event of a Default by Tenant, Landlord may elect at any time to terminate this Lease and to recover damages to which Landlord is entitled. 

31.7. If Landlord does not elect to terminate this Lease as provided in Section 31.5, then Landlord may, from time to time,
recover all Rent as it becomes due under this Lease. At any time thereafter, Landlord may elect to terminate this Lease and to recover damages to which Landlord is entitled. 
 31.8. In the event Landlord elects to terminate this Lease and relet the Premises, Landlord may execute any new lease in its own name. Tenant hereunder shall have no right or authority whatsoever to
collect any Rent from such tenant. The proceeds of any such reletting shall be applied as follows: 
 (a) First, to the payment
of any indebtedness other than Rent due hereunder from Tenant to Landlord, including storage charges or brokerage commissions owing from Tenant to Landlord as the result of such reletting; 

(b) Second, to the payment of the costs and expenses of reletting the Premises, including (i) alterations and repairs that Landlord
deems reasonably necessary and advisable and (ii) reasonable attorneys’ fees, charges and disbursements incurred by Landlord in connection with the retaking of the Premises and such reletting; 

(c) Third, to the payment of Rent and other charges due and unpaid hereunder; and 

(d) Fourth, to the payment of future Rent and other damages payable by Tenant under this Lease. 

31.9. All of Landlord’s rights, options and remedies hereunder shall be construed and held to be nonexclusive and cumulative.
Landlord shall have the right to pursue any one or all of such remedies, or any other remedy or relief that may be provided by Applicable Laws, whether or not stated in this Lease. No waiver of any default of Tenant hereunder shall be implied from
any acceptance by Landlord of any Rent or other payments due hereunder or any omission by Landlord to take any action on account of such default if such default persists or is repeated, and no express waiver shall affect defaults other than as
specified in such waiver. Notwithstanding any provision of this Lease to the contrary, in no event shall Landlord be required to mitigate its damages with respect to any default by Tenant. 

31.10. Landlord’s termination of (a) this Lease or (b) Tenant’s right to possession of the Premises shall not relieve
Tenant of any liability to Landlord that has previously accrued or that shall arise based upon events that occurred prior to the later to occur of (i) the date of Lease termination or (ii) the date Tenant surrenders possession of the
Premises. 

  
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 31.11. To the extent permitted by Applicable Laws, Tenant waives any and all rights of
redemption granted by or under any present or future Applicable Laws if Tenant is evicted or dispossessed for any cause, or if Landlord obtains possession of the Premises due to Tenant’s default hereunder or otherwise. 

31.12. Landlord shall not be in default or liable for damages under this Lease unless Landlord fails to perform obligations required of
Landlord within a reasonable time, but in no event shall such failure continue for more than thirty (30) days after written notice from Tenant specifying the nature of Landlord’s failure; provided, however, that if the nature of
Landlord’s obligation is such that more than thirty (30) days are required for its performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently
prosecutes the same to completion. In no event shall Tenant have the right to terminate or cancel this Lease or to withhold or abate rent or to set off any Claims against Rent as a result of any default or breach by Landlord of any of its covenants,
obligations, representations, warranties or promises hereunder, except as may otherwise be expressly set forth in this Lease. 

31.13. In the event of any default by Landlord, Tenant shall give notice by registered or certified mail to any (a) beneficiary of a
deed of trust or (b) mortgagee under a mortgage covering the Premises, the Building or the Project and to any landlord of any lease of land upon or within which the Premises, the Building or the Project is located, and shall offer such
beneficiary, mortgagee or landlord a reasonable opportunity to cure the default, including time to obtain possession of the Building or the Project by power of sale or a judicial action if such should prove necessary to effect a cure;
provided that Landlord shall furnish to Tenant in writing, upon written request by Tenant, the names and addresses of all such persons who are to receive such notices. 
 32. Bankruptcy. In the event a debtor, trustee or debtor in possession under the Bankruptcy Code, or another person with similar rights, duties and powers under any other Applicable Laws, proposes
to cure any default under this Lease or to assume or assign this Lease and is obliged to provide adequate assurance to Landlord that (a) a default shall be cured, (b) Landlord shall be compensated for its damages arising from any breach of
this Lease and (c) future performance of Tenant’s obligations under this Lease shall occur, then such adequate assurances shall include any or all of the following, as designated by Landlord in its sole and absolute discretion: 

32.1. Those acts specified in the Bankruptcy Code or other Applicable Laws as included within the meaning of “adequate
assurance,” even if this Lease does not concern a shopping center or other facility described in such Applicable Laws; 

32.2. A prompt cash payment to compensate Landlord for any monetary defaults or actual damages arising directly from a breach of this
Lease; 
 32.3. A cash deposit in an amount at least equal to the then-current amount of the Security Deposit; or 

  
 45 

 32.4. The assumption or assignment of all of Tenant’s interest and obligations under
this Lease. 
 33. Brokers. 
 33.1. Tenant represents and warrants that it has had no dealings with any real estate broker or agent in connection with the negotiation of this Lease other than Studley, Inc. (“Broker”),
and that it knows of no other real estate broker or agent that is or might be entitled to a commission in connection with this Lease. Landlord shall compensate Broker in relation to this Lease pursuant to a separate agreement between Landlord and
Broker. 
 33.2. Tenant represents and warrants that no broker or agent has made any representation or warranty relied upon by
Tenant in Tenant’s decision to enter into this Lease, other than as contained in this Lease. 
 33.3. Tenant acknowledges
and agrees that the employment of brokers by Landlord is for the purpose of solicitation of offers of leases from prospective tenants and that no authority is granted to any broker to furnish any representation (written or oral) or warranty from
Landlord unless expressly contained within this Lease. Landlord is executing this Lease in reliance upon Tenant’s representations, warranties and agreements contained within Sections 33.1 and 33.2. 

33.4. Tenant agrees to indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold
the Landlord Indemnitees harmless from any and all cost or liability for compensation claimed by any broker or agent employed or engaged by Tenant or claiming to have been employed or engaged by Tenant. In the event Tenant receives notice of a Claim
for which Landlord is obligated to indemnify Tenant pursuant to this Section 33.4, then Tenant shall (a) promptly provide notice to Landlord of such Claim, (b) take all reasonable measures to mitigate any damages thereunder and
(c) not enter into any settlement agreement without the express written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed. Subject to Sections 23.7, 28.2 and 31.12 and any
subrogation provisions contained in the Work Letter, Landlord agrees to indemnify, save, defend (at Tenant’s option and with counsel reasonably acceptable to Tenant) and hold the Tenant Indemnitees harmless from any and all cost or liability
for compensation claimed by any broker or agent employed or engaged by Landlord or claiming to have been employed or engaged by Landlord. In the event Landlord receives notice of a Claim for which Tenant is obligated to indemnify Landlord pursuant
to this Section 33.4, then Landlord shall (x) promptly provide notice to Tenant of such Claim, (y) take all reasonable measures to mitigate any damages thereunder and (z) not enter into any settlement agreement without the
express written consent of Tenant, which consent shall not be unreasonably withheld, conditioned or delayed. 
 34. Definition of
Landlord. With regard to obligations imposed upon Landlord pursuant to this Lease, the term “Landlord,” as used in this Lease, shall refer only to Landlord or Landlord’s then-current successor-in-interest. In the event of
any transfer, assignment or conveyance of Landlord’s interest in this Lease or in Landlord's fee title to or leasehold interest in the Property, as applicable, Landlord herein named (and in case of any subsequent transfers or conveyances, the
subsequent Landlord) shall be automatically freed and relieved, from and after the date of such transfer, assignment or conveyance, from all liability for the performance of any covenants or obligations contained in this Lease thereafter to be
performed by Landlord and, without further agreement, the transferee, assignee or conveyee of Landlord’s in this Lease or in Landlord’s fee title to or leasehold interest in the Property, as applicable, shall be deemed to have assumed and
agreed to observe and perform any and all covenants and obligations of Landlord hereunder during the tenure of its interest in the Lease or the Property. Landlord or any subsequent Landlord may transfer its interest in the Premises or this Lease
without Tenant’s consent. 

  
 46 

	35.	Limitation of Landlord’s Liability. 

 35.1. If Landlord is in default under this Lease and, as a consequence, Tenant recovers a monetary judgment against Landlord, the judgment shall be satisfied only out of (a) the proceeds of sale
received on execution of the judgment and levy against the right, title and interest of Landlord in the Building and the Project, (b) rent or other income from such real property receivable by Landlord or (c) the consideration received by
Landlord from the sale, financing, refinancing or other disposition of all or any part of Landlord's right, title or interest in the Building or the Project. 
 35.2. Landlord shall not be personally liable for any deficiency under this Lease. If Landlord is a partnership or joint venture, then the partners of such partnership shall not be personally liable for
Landlord’s obligations under this Lease, and no partner of Landlord shall be sued or named as a party in any suit or action, and service of process shall not be made against any partner of Landlord except as may be necessary to secure
jurisdiction of the partnership or joint venture. If Landlord is a corporation, then the shareholders, directors, officers, employees and agents of such corporation shall not be personally liable for Landlord's obligations under this Lease, and no
shareholder, director, officer, employee or agent of Landlord shall be sued or named as a party in any suit or action, and service of process shall not be made against any shareholder, director, officer, employee or agent of Landlord. If Landlord is
a limited liability company, then the members of such limited liability company shall not be personally liable for Landlord’s obligations under this Lease, and no member of Landlord shall be sued or named as a party in any suit or action, and
service of process shall not be made against any member of Landlord except as may be necessary to secure jurisdiction of the limited liability company. No partner, shareholder, director, employee, member or agent of Landlord shall be required to
answer or otherwise plead to any service of process, and no judgment shall be taken or writ of execution levied against any partner, shareholder, director, employee, member or agent of Landlord. 

35.3. Each of the covenants and agreements of this Article shall be applicable to any covenant or agreement either expressly contained in
this Lease or imposed by Applicable Laws and shall survive the expiration or earlier termination of this Lease. 
 36. Joint and Several
Obligations. If more than one person or entity executes this Lease as Tenant, then: 
 36.1. Each of them is jointly and
severally liable for the keeping, observing and performing of all of the terms, covenants, conditions, provisions and agreements of this Lease to be kept, observed or performed by Tenant; and 

  
 47 

 36.2. The term “Tenant,” as used in this Lease shall mean and include each
of them, jointly and severally. The act of, notice from, notice to, refund to, or signature of any one or more of them with respect to the tenancy under this Lease, including any renewal, extension, expiration, termination or modification of this
Lease, shall be binding upon each and all of the persons executing this Lease as Tenant with the same force and effect as if each and all of them had so acted, so given or received such notice or refund, or so signed. 

37. Representations. Tenant guarantees, warrants and represents that (a) Tenant is duly incorporated or otherwise established or formed and
validly existing under the laws of its state of incorporation, establishment or formation, (b) Tenant has and is duly qualified to do business in the state in which the Property is located, (c) Tenant has full corporate, partnership,
trust, association or other appropriate power and authority to enter into this Lease and to perform all Tenant’s obligations hereunder, (d) each person (and all of the persons if more than one signs) signing this Lease on behalf of Tenant
is duly and validly authorized to do so and (e) neither (i) the execution, delivery or performance of this Lease nor (ii) the consummation of the transactions contemplated hereby will violate or conflict with any provision of
documents or instruments under which Tenant is constituted or to which Tenant is a party. In addition, Tenant guarantees, warrants and represents that none of (x) it, (y) its affiliates or partners nor (z) to the best of its
knowledge, its members, shareholders or other equity owners or any of their respective employees, officers, directors, representatives or agents is a person or entity with whom U.S. persons or entities are restricted from doing business under
regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked Persons List) or under any statute, executive order (including the
September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism) or other similar governmental action. 

38. Confidentiality. Tenant shall keep the terms and conditions of this Lease and any information provided to Tenant or its employees, agents or
contractors pursuant to Article 9 confidential and shall not (a) disclose to any third party any terms or conditions of this Lease or any other Lease-related document (including subleases, assignments, work letters, construction
contracts, letters of credit, subordination agreements, non-disturbance agreements, brokerage agreements or estoppels) or (b) provide to any third party an original or copy of this Lease (or any Lease-related document). Landlord shall not
release to any third party any non-public financial information or non-public information about Tenant’s ownership structure that Tenant gives Landlord. Notwithstanding the foregoing, confidential information under this Section may be released
by Landlord or Tenant under the following circumstances: (x) if required by Applicable Laws or in any judicial proceeding; provided that the releasing party has given the other party reasonable notice of such requirement, if feasible,
(y) to a party’s attorneys, accountants, brokers and other bona fide consultants or advisers (with respect to this Lease only); provided such third parties agree to be bound by this Section or (z) to bona fide prospective
assignees or subtenants of this Lease; provided they agree in writing to be bound by this Section. 

  
 48 

 39. Notices. Any notice, consent, demand, bill, statement or other communication required or
permitted to be given hereunder shall be in writing and shall be given by personal delivery, overnight delivery with a reputable nationwide overnight delivery service, or certified mail (return receipt requested), and if given by personal delivery,
shall be deemed delivered upon receipt; if given by overnight delivery, shall be deemed delivered one (1) day after deposit with a reputable nationwide overnight delivery service; and, if given by certified mail (return receipt requested),
shall be deemed delivered three (3) business days after the time the notifying party deposits the notice with the United States Postal Service. Any notices given pursuant to this Lease shall be addressed to Tenant at the Premises, or to
Landlord or Tenant at the addresses shown in Sections 2.9 and 2.10, respectively. Either party may, by notice to the other given pursuant to this Section, specify additional or different addresses for notice purposes. 

40. Option to Extend Term. Tenant shall have the option (“Option”) to extend the Term by five (5) years as to the entire
Premises (and no less than the entire Premises) upon the following terms and conditions. Any extension of the Term pursuant to the Option shall be on all the same terms and conditions as this Lease, except as follows: 

40.1. Base Rent at the commencement of the Option term shall equal the greater of (a) one hundred three percent (103%) of the
then-current Base Rent and (b) the then-current fair market value for comparable office and laboratory space in the Sorrento Valley submarket of San Diego for comparable age, quality, level of finish and proximity to amenities and public
transit (“FMV”), and shall be further increased on each annual anniversary of the Option term commencement date by three percent (3%). Tenant may, no more than twelve (12) months prior to the date the Term is then scheduled to
expire, request Landlord’s estimate of the FMV for the Option term. Landlord shall, within fifteen (15) days after receipt of such request, give Tenant a written proposal of such FMV. If Tenant gives written notice to exercise the Option,
such notice shall specify whether Tenant accepts Landlord’s proposed estimate of FMV. If Tenant does not accept the FMV, then the parties shall endeavor to agree upon the FMV, taking into account all relevant factors, including (v) the
size of the Premises, (w) the length of the Option term, (x) rent in comparable buildings in the relevant submarket, including concessions offered to new tenants, such as free rent, tenant improvement allowances and moving allowances,
(y) Tenant’s creditworthiness and (z) the quality and location of the Building and the Project. In the event that the parties are unable to agree upon the FMV within thirty (30) days after Tenant notifies Landlord that Tenant is
exercising the Option, then either party may request that the same be determined as follows: a senior officer of a nationally recognized leasing brokerage firm with local knowledge of the Sorrento Valley laboratory/research and development leasing
submarket (the “Baseball Arbitrator”) shall be selected and paid for jointly by Landlord and Tenant. If Landlord and Tenant are unable to agree upon the Baseball Arbitrator, then the same shall be designated by the local chapter of
the American Arbitration Association or any successor organization thereto (the “AAA”). The Baseball Arbitrator selected by the parties or designated by the AAA shall (i) have at least ten (10) years’ experience in
the leasing of laboratory/research and development space in the Sorrento Valley submarket and (ii) not have been employed or retained by either Landlord or Tenant or any affiliate of either for a period of at least ten (10) years prior to
appointment pursuant hereto. Each of Landlord and Tenant shall submit to the Baseball Arbitrator and to the other party its determination of the FMV. The Baseball Arbitrator shall grant to Landlord and Tenant a hearing and the right to submit
evidence. The Baseball Arbitrator shall determine which of the two (2) FMV determinations more closely represents the actual FMV. The arbitrator may not select any other FMV for the Premises other than one submitted by Landlord or Tenant. The
FMV selected by the Baseball Arbitrator shall be binding upon Landlord and Tenant and shall serve as the basis for determination of Base Rent payable for the Option term. If, as of the commencement date of the Option term, the amount of Base Rent
payable during the Option term shall not have been determined, then, pending such determination, Tenant shall pay Base Rent equal to the Base Rent payable with respect to the last year of the then-current Term. After the final determination of Base
Rent payable for the Option term, the parties shall promptly execute a written amendment to this Lease specifying the amount of Base Rent to be paid during the Option term. Any failure of the parties to execute such amendment shall not affect the
validity of the FMV determined pursuant to this Section. 

  
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 40.2. The Option is not assignable separate and apart from this Lease. 

40.3. The Option is conditional upon Tenant giving Landlord written notice of its election to exercise the Option at least six
(6) months prior to the end of the expiration of the then-current Term. Time shall be of the essence as to Tenant’s exercise of the Option. Tenant assumes full responsibility for maintaining a record of the deadlines to exercise the
Option. Tenant acknowledges that it would be inequitable to require Landlord to accept any exercise of the Option after the date provided for in this Section. 
 40.4. Notwithstanding anything contained in this Article to the contrary, Tenant shall not have the right to exercise the Option: 
 (a) During the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified
default to Landlord’s reasonable satisfaction; or 
 (b) At any time after any Default as described in Article 31 of
the Lease (provided, however, that, for purposes of this Subsection 40.4(b), Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is
susceptible to being cured; or 
 (c) In the event that Tenant has defaulted in the performance of its obligations under this
Lease two (2) or more times and a service or late charge has become payable under Section 31.1 for each of such defaults during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise the Option,
whether or not Tenant has cured such defaults. 
 40.5. The period of time within which Tenant may exercise the Option shall not
be extended or enlarged by reason of Tenant’s inability to exercise such Option because of the provisions of Section 40.4. 
 40.6. All of Tenant’s rights under the provisions of the Option shall terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Option if, after such
exercise, but prior to the commencement date of the new term, (a) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of twenty (20) days after written notice from Landlord to Tenant, (b) Tenant fails to
commence to cure a default (other than a monetary default) within thirty (30) days after the date Landlord gives notice to Tenant of such default or (c) Tenant has defaulted under this Lease two (2) or more times and a service or late
charge under Section 31.1 has become payable for any such default, whether or not Tenant has cured such defaults. 

  
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 41. Rooftop Installation Area. 

41.1. Tenant shall have the non-exclusive use of the Building rooftop (the “Rooftop Installation Area”) solely to
operate, maintain, repair and replace rooftop antennae, mechanical equipment, communications antennas and other equipment installed by Tenant in the Rooftop Installation Area in accordance with this Article (“Tenant’s Rooftop
Equipment”). Tenant’s Rooftop Equipment shall be only for Tenant’s use of the Premises for the Permitted Use. 
 41.2. Tenant shall install Tenant’s Rooftop Equipment at its sole cost and expense, at such times and in such manner as Landlord may reasonably designate, and in accordance with this Article and the
applicable provisions of this Lease regarding Alterations. Tenant’s Rooftop Equipment and the installation thereof shall be subject to Landlord’s prior written approval, which approval shall not be unreasonably withheld. Among other
reasons, Landlord may withhold approval if the installation or operation of Tenant’s Rooftop Equipment could reasonably be expected to damage the structural integrity of the Building or to transmit vibrations or noise or cause other adverse
effects beyond the Premises to an extent not customary in first class laboratory Buildings, unless Tenant implements measures that are acceptable to Landlord in its reasonable discretion to avoid any such damage or transmission. 

41.3. Tenant shall comply with any roof or roof-related warranties. Tenant shall obtain a letter from Landlord’s roofing contractor
within thirty (30) days after completion of any Tenant work on the rooftop stating that such work did not affect any such warranties. Tenant, at its sole cost and expense, shall inspect the Rooftop Installation Area at least annually, and
correct any loose bolts, fittings or other appurtenances and repair any damage to the roof caused by the installation or operation of Tenant’s Rooftop Equipment. Tenant shall not permit the installation, maintenance or operation of
Tenant’s Rooftop Equipment to violate any Applicable Laws or constitute a nuisance. Tenant shall pay Landlord within thirty (30) days after demand (a) all applicable taxes, charges, fees or impositions imposed on Landlord by
Governmental Authorities as the result of Tenant’s use of the Rooftop Installation Areas in excess of those for which Landlord would otherwise be responsible for the use or installation of Tenant’s Rooftop Equipment and (b) the amount
of any increase in Landlord’s insurance premiums as a result of the installation of Tenant’s Rooftop Equipment. 

41.4. If Tenant’s Equipment (a) causes physical damage to the structural integrity of the Building, (b) interferes with
any telecommunications, mechanical or other systems located at or near or servicing the Building or the Project that were installed prior to the installation of Tenant's Rooftop Equipment, (c) interferes with any other service provided to other
tenants in the Building or the Project by rooftop or penthouse installations that were installed prior to the installation of Tenant’s Rooftop Equipment or (d) interferes with any other tenants’ business, in each case in excess of
that permissible under Federal Communications Commission regulations, then Tenant shall cooperate with Landlord to determine the source of the damage or interference and promptly repair such damage and eliminate such interference, in each case at
Tenant’s sole cost and expense, within ten (10) days after receipt of notice of such damage or interference (which notice may be oral; provided that Landlord also delivers to Tenant written notice of such damage or interference
within twenty-four (24) hours after providing oral notice). 

  
 51 

 41.5. Landlord reserves the right to cause Tenant to relocate Tenant’s Rooftop
Equipment by giving Tenant prior written notice thereof. Landlord agrees to pay the reasonable costs thereof. Tenant shall arrange for the relocation of Tenant’s Rooftop Equipment within sixty (60) days after receipt of Landlord’s
notification of such relocation. In the event Tenant fails to arrange for relocation within such sixty (60)-day period, Landlord shall have the right to arrange for the relocation of Tenant’s Rooftop Equipment in a manner that does not
unnecessarily interrupt or interfere with Tenant’s use of the Premises for the Permitted Use. 
 42. Miscellaneous. 

42.1. Landlord reserves the right to change the name of the Building or the Project in its sole discretion. 

42.2. To induce Landlord to enter into this Lease, Tenant agrees that it shall promptly furnish to Landlord, from time to time, upon
Landlord’s written request, the most recent year-end financial statements reflecting Tenant’s current financial condition audited by a nationally recognized accounting firm. Tenant shall, within ninety (90) days after the end of
Tenant’s financial year, furnish Landlord with a certified copy of Tenant’s year-end financial statements for the previous year audited by a nationally recognized accounting firm. Tenant represents and warrants that all financial
statements, records and information furnished by Tenant to Landlord in connection with this Lease are true, correct and complete in all respects. If audited financials are not otherwise prepared, unaudited financials complying with generally
accepted accounting principles and certified by the chief financial officer of Tenant as true, correct and complete in all respects shall suffice for purposes of this Section. 
 42.3. Where applicable in this Lease, the singular includes the plural and the masculine or neuter includes the masculine, feminine and neuter. The words “include,” “includes,”
“included” and “including” shall mean “‘include,’ etc., without limitation.” The section headings of this Lease are not a part of this Lease and shall have no effect upon the construction or interpretation of
any part hereof. 
 42.4. If either party commences an action against the other party arising out of or in connection with this
Lease, then the substantially prevailing party shall be reimbursed by the other party for all reasonable costs and expenses, including reasonable attorneys’ fees and expenses, incurred by the substantially prevailing party in such action or
proceeding and in any appeal in connection therewith. 
 42.5. Submission of this instrument for examination or signature by
Tenant does not constitute a reservation of or option for a lease, and shall not be effective as a lease or otherwise until execution by and delivery to both Landlord and Tenant. 

42.6. Time is of the essence with respect to the performance of every provision of this Lease in which time of performance is a factor.

 42.7. Each provision of this Lease performable by Tenant shall be deemed both a covenant and a condition. 

  
 52 

 42.8. Whenever consent or approval of either party is required, that party shall not
unreasonably withhold such consent or approval, except as may be expressly set forth to the contrary. 
 42.9. The terms of this
Lease are intended by the parties as a final expression of their agreement with respect to the terms as are included herein, and may not be contradicted by evidence of any prior or contemporaneous agreement. 

42.10. Any provision of this Lease that shall prove to be invalid, void or illegal shall in no way affect, impair or invalidate any other
provision hereof, and all other provisions of this Lease shall remain in full force and effect and shall be interpreted as if the invalid, void or illegal provision did not exist. 

42.11. Landlord may, but shall not be obligated to, record a short form or memorandum hereof without Tenant’s consent. Within ten
(10) days after receipt of written request from Landlord, Tenant shall execute a termination of any short form or memorandum of lease recorded with respect hereto. Neither party shall record this Lease. Tenant shall be responsible for the cost
of recording any short form or memorandum of this Lease, including any transfer or other taxes incurred in connection with such recordation. 
 42.12. The language in all parts of this Lease shall be in all cases construed as a whole according to its fair meaning and not strictly for or against either Landlord or Tenant. 

42.13. Each of the covenants, conditions and agreements herein contained shall inure to the benefit of and shall apply to and be binding
upon the parties hereto and their respective heirs; legatees; devisees; executors; administrators; and permitted successors, assigns, sublessees. Nothing in this Section shall in any way alter the provisions of this Lease restricting assignment or
subletting. 
 42.14. This Lease shall be governed by, construed and enforced in accordance with the laws of the state in which
the Premises are located, without regard to such state’s conflict of law principles. 
 42.15. Tenant guarantees, warrants
and represents that the individual or individuals signing this Lease have the power, authority and legal capacity to sign this Lease on behalf of and to bind all entities, corporations, partnerships, limited liability companies, joint venturers or
other organizations and entities on whose behalf such individual or individuals have signed. 
 42.16. This Lease may be
executed in one or more counterparts, each of which, when taken together, shall constitute one and the same document. 
 42.17.
No provision of this Lease may be modified, amended or supplemented except by an agreement in writing signed by Landlord and Tenant. The waiver by Landlord of any breach by Tenant of any term, covenant or condition herein contained shall not be
deemed to be a waiver of any subsequent breach of the same or any other term, covenant or condition herein contained. 

  
 53 

 42.18. To the extent permitted by Applicable Laws, the parties waive trial by jury in any
action, proceeding or counterclaim brought by the other party hereto related to matters arising out of or in any way connected with this Lease; the relationship between Landlord and Tenant; Tenant’s use or occupancy of the Premises; or any
claim of injury or damage related to this Lease or the Premises. 
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 54 

 IN WITNESS WHEREOF, the parties hereto have executed this Lease as of the date first above
written. 
 LANDLORD: 

BMR-SORRENTO WEST LP, 
 a Delaware limited
partnership 
  

			
	 By:
	 	/s/ Kevine M. Simonsen
	 Name:
	 	 Kevine M. Simonsen

	 Title:
	 	 VP, Real Estate Counsel

 TENANT: 

AMBIT BIOSCIENCES CORPORATION, 
 a Delaware
corporation 
  

			
	 By:
	 	 /s/ Alan Furhman

	 Name:
	 	 Alan Furhman

	 Title:
	 	 CFO

 EXHIBIT A  

PREMISES 
 [See attached] 

  
 A-1

 EXHIBIT B 
 WORK LETTER 
 This Work Letter (this
“Work Letter”) is made and entered into as of the 17th day of July, 2012, by and between BMR-SORRENTO WEST LP, a Delaware limited partnership (“Landlord”), and AMBIT BIOSCIENCES CORPORATION, a Delaware corporation
(“Tenant”), and is attached to and made a part of that certain Lease dated as of July 17, 2012 (as the same may be amended, amended and restated, supplemented or otherwise modified from time to time, the
“Lease”), by and between Landlord and Tenant for the Premises located at 11080 Roselle Street, San Diego, California. All capitalized terms used but not otherwise defined herein shall have the meanings given them in the Lease.

 1. General Requirements. 
 1.1. Authorized Representatives. 
 (a) Landlord designates, as
Landlord’s authorized representative (“Landlord’s Authorized Representative”), (i) Federico Mina as the person authorized to initial plans, drawings, approvals and to sign change orders pursuant to this Work Letter
and (ii) an authorized officer of Landlord as the person authorized to sign any amendments to this Work Letter or the Lease. Tenant shall not be obligated to respond to or act upon any such item until such item has been initialed or signed (as
applicable) by the appropriate Landlord’s Authorized Representative. Landlord may change either Landlord’s Authorized Representative upon one (1) business day’s prior written notice to Tenant. 

(b) Tenant designates Jan Robinson (“Tenant’s Authorized Representative”) as the person authorized to initial and
sign all plans, drawings, change orders and approvals pursuant to this Work Letter. Landlord shall not be obligated to respond to or act upon any such item until such item has been initialed or signed (as applicable) by Tenant’s Authorized
Representative. Tenant may change Tenant's Authorized Representative upon one (1) business day’s prior written notice to Landlord. 
 1.2. Schedule. The schedule for design and development of the Tenant Improvements, including the time periods for preparation and review of construction documents, approvals and performance, shall
be in accordance with a schedule to be prepared by Landlord (the “Schedule”). The Schedule shall be subject to adjustment as mutually agreed upon in writing by the parties, or as otherwise provided in this Work Letter. 

1.3. Landlord’s Architects, Contractors and Consultants. The architect, engineering consultants, design team, general
contractor and subcontractors responsible for the construction of the Tenant Improvements shall be selected by Landlord. 
 2. Tenant
Improvements. All Tenant Improvements shall be performed by Landlord’s contractor, at Landlord’s sole cost and expense (to include the cost of all permit fees, application fees and inspections) and in substantial accordance with the
space plan attached to the Lease as Exhibit A, the Lease, this Work Letter and the specifications generally described on Exhibit 1 to this Work Letter. All material and equipment furnished by Landlord or its contractors as the Tenant
Improvements shall be new or “like new,” and the Tenant Improvements shall be performed in a first-class, workmanlike manner. 

  
 B-2

 2.1. Plans. Within thirty (30) days after the execution of this Work Letter,
Landlord and Tenant shall agree upon schematic plans for the construction of the Tenant Improvements using Project-standard materials and finishes (the “Approved Plans”). 

2.2. Changes. After approval of the Approved Plans, no changes may be requested by Tenant except as may be granted by the Landlord
in its sole and absolute discretion. 
 3. Requests for Consent. Except as otherwise provided in this Work Letter, Tenant shall respond
to all requests for consents, approvals or directions made by Landlord pursuant to this Work Letter within five (5) days following Tenant’s receipt of such request. Tenant’s failure to respond within such five (5) day period
shall be deemed approval by Tenant. 
 4. Miscellaneous. 
 4.1. Number; Headings. Where applicable in this Work Letter, the singular includes the plural and the masculine or neuter includes the masculine, feminine and neuter. The section headings of this
Work Letter are not a part of this Work Letter and shall have no effect upon the construction or interpretation of any part hereof. 
 4.2. Attorneys’ Fees. If either party commences an action against the other party arising out of or in connection with this Work Letter, then the substantially prevailing party shall be
entitled to have and recover from the other party reasonable attorneys’ fees, charges and disbursements and costs of suit. 

4.3. Time of Essence. Time is of the essence with respect to the performance of every provision of this Work Letter in which time
of performance is a factor. 
 4.4. Covenant and Condition. Each provision of this Work Letter performable by Tenant
shall be deemed both a covenant and a condition. 
 4.5. Withholding of Consent. Whenever consent or approval of either
party is required, that party shall not unreasonably withhold, condition or delay such consent or approval, except as may be expressly set forth to the contrary. 
 4.6. Invalidity. Any provision of this Work Letter that shall prove to be invalid, void or illegal shall in no way affect, impair or invalidate any other provision hereof, and all other provisions
of this Work Letter shall remain in full force and effect and shall be interpreted as if the invalid, void or illegal provision did not exist. 
 4.7. Interpretation. The language in all parts of this Work Letter shall be in all cases construed as a whole according to its fair meaning and not strictly for or against either Landlord or
Tenant. 

  
 B-3

 4.8. Successors. Each of the covenants, conditions and agreements herein contained
shall inure to the benefit of and shall apply to and be binding upon the parties hereto and their respective heirs; legatees; devisees; executors; administrators; and permitted successors, assigns, sublessees. Nothing in this Section shall in any
way alter the provisions of the Lease restricting assignment or subletting. 
 4.9. Governing Law. This Work Letter shall
be governed by, construed and enforced in accordance with the laws of the state in which the Premises are located, without regard to such state’s conflict of law principles. 

4.10. Power and Authority. Tenant guarantees, warrants and represents that the individual or individuals signing this Work Letter
have the power, authority and legal capacity to sign this Work Letter on behalf of and to bind all entities, corporations, partnerships, limited liability companies, joint venturers or other organizations and entities on whose behalf such individual
or individuals have signed. 
 4.11. Counterparts. This Work Letter may be executed in one or more counterparts, each of
which, when taken together, shall constitute one and the same document. 
 4.12. Amendments; Waiver. No provision of this
Work Letter may be modified, amended or supplemented except by an agreement in writing signed by Landlord and Tenant. The waiver by Landlord of any breach by Tenant of any term, covenant or condition herein contained shall not be deemed to be a
waiver of any subsequent breach of the same or any other term, covenant or condition herein contained. 
 4.13. Waiver of
Jury Trial. To the extent permitted by Applicable Laws, the parties waive trial by jury in any action, proceeding or counterclaim brought by the other party hereto related to matters arising out of or in any way connected with this Work Letter;
the relationship between Landlord and Tenant; Tenant’s use or occupancy of the Premises; or any claim of injury or damage related to this Work Letter or the Premises. 
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 B-4

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Work Letter to be effective on
the date first above written. 
 LANDLORD: 
 BMR-SORRENTO WEST LP, 
 a Delaware limited partnership 

			
		
	By:	 	/s/ Kevin M. Simonsen
	Name:	 	Kevin M. Simonsen
	Title:	 	VP, Real Estate Counsel

 TENANT: 

AMBIT BIOSCIENCES CORPORATION, 
 a Delaware
corporation 

			
		
	By:	 	/s/ Alan Furhman
	Name:	 	Alan Furhman
	Title:	 	CFO

  
 B-5

 EXHIBIT 1 
 TENANT IMPROVEMENT SPECIFICATIONS 
 [See attached] 

  
 B-6

 EXHIBIT C 
 ACKNOWLEDGEMENT OF TERM COMMENCEMENT DATE  
 AND TERM EXPIRATION
DATE 
 THIS ACKNOWLEDGEMENT OF TERM COMMENCEMENT DATE AND TERM EXPIRATION DATE is entered into as of
[            ], 2012, with reference to that certain Lease (the “Lease”) dated as of July 17, 2012, by AMBIT BIOSCIENCES CORPORATION, a Delaware corporation
(“Tenant”), in favor of BMR-SORRENTO WEST LP, a Delaware limited partnership (“Landlord”). All capitalized terms used herein without definition shall have the meanings ascribed to them in the Lease. 

Tenant hereby confirms the following: 
 1. Tenant accepted possession of the Premises on [             ], 20[    ]. 

2. The Premises are in good order, condition and repair. 
 3. The Tenant Improvements are Substantially Complete. 
 4. All conditions of the
Lease to be performed by Landlord as a condition to the full effectiveness of the Lease have been satisfied, and Landlord has fulfilled all of its duties in the nature of inducements offered to Tenant to lease the Premises. 

5. In accordance with the provisions of Article 4 of the Lease, the Term Commencement Date is
[            ], 20[    ], and, unless the Lease is terminated prior to the Term Expiration Date pursuant to its terms, the Term Expiration Date shall be
[            ], 20[    ]. 
 6.
Tenant commenced occupancy of the Premises for the Permitted Use on [            ], 20[    ]. 

7. The Lease is in full force and effect, and the same represents the entire agreement between Landlord and Tenant concerning the
Premises[, except [            ]]. 
 8. Tenant has no
existing defenses against the enforcement of the Lease by Landlord, and there exist no offsets or credits against Rent owed or to be owed by Tenant. 
 9. The obligation to pay Rent is presently in effect and all Rent obligations on the part of Tenant under the Lease commenced to accrue on
[            ], 20[    ], with Base Rent payable on the dates and amounts set forth in the chart below: 

 

																	
	 Dates
	  	Approximate
Square Feet
of
Rentable Area	 	  	Base Rent per Square
Foot of
Rentable Area	 	  	Monthly Base
Rent	 	  	Annual Base
Rent	 
	 [    ]/[    ]/[    ]-
	  	 	[    ]	  	  	 	$[                ]	  	  	 	[    ]	  	  	 	[    ]	  
	 [    ]/[    ]/[    ]
	  				  	 	[monthly] [OR] [annually]	  	  				  			

  
 C-1

 10. The undersigned Tenant has not made any prior assignment, transfer, hypothecation or
pledge of the Lease or of the rents thereunder or sublease of the Premises or any portion thereof. 
 [REMAINDER OF THIS PAGE
INTENTIONALLY LEFT BLANK] 

  
 C-2

 IN WITNESS WHEREOF, Tenant has executed this Acknowledgment of Term Commencement Date and
Term Expiration Date as of the date first written above. 
 TENANT: 
 AMBIT BIOSCIENCES CORPORATION, 
 a Delaware corporation 

			
		
	By:	 	 
	Name:	 	  

	Title:	 	  

  
 C-3

 EXHIBIT D 
 [Intentionally omitted] 

  
 D-1

 EXHIBIT E 
 FORM OF LETTER OF CREDIT 
 [On letterhead or L/C letterhead of
Issuer.] 
 LETTER OF CREDIT 
 Date:
                , 200     
 (the “Beneficiary”) 
 Attention: 

L/C. No.: 
 Loan No. : 

Ladies and Gentlemen: 
 We establish in favor of
Beneficiary our irrevocable and unconditional Letter of Credit numbered as identified above (the “L/C”) for an aggregate amount of $            , expiring at
    :00 p.m. on              or, if such day is not a Banking Day, then the next succeeding Banking Day (such date, as extended from time to time, the
“Expiry Date”). “Banking Day” means a weekday except a weekday when commercial banks in              are authorized or required to close.

 We authorize Beneficiary to draw on us (the “Issuer”) for the account of
             (the “Account Party”), under the terms and conditions of this L/C. 
 Funds under this L/C are available by presenting the following documentation (the “Drawing Documentation”): (a) the original L/C and (b) a sight draft substantially in the form
of Attachment 1, with blanks filled in and bracketed items provided as appropriate. No other evidence of authority, certificate, or documentation is required. 
 Drawing Documentation must be presented at Issuer’s office at              on or before the Expiry Date by personal presentation,
courier or messenger service, or fax. Presentation by fax shall be effective upon electronic confirmation of transmission as evidenced by a printed report from the sender’s fax machine. After any fax presentation, but not as a condition to its
effectiveness, Beneficiary shall with reasonable promptness deliver the original Drawing Documentation by any other means. Issuer will on request issue a receipt for Drawing Documentation. 

We agree, irrevocably, and irrespective of any claim by any other person, to honor drafts drawn under and in conformity with this L/C,
within the maximum amount of this L/C, presented to us on or before the Expiry Date, provided we also receive (on or before the Expiry Date) any other Drawing Documentation this L/C requires. 

  
 E-1

 We shall pay this L/C only from our own funds by check or wire transfer, in compliance with
the Drawing Documentation. 
 If Beneficiary presents proper Drawing Documentation to us on or before the Expiry Date, then we
shall pay under this L/C at or before the following time (the “Payment Deadline”): (a) if presentment is made at or before noon of any Banking Day, then the close of such Banking Day; and (b) otherwise, the close of the
next Banking Day. We waive any right to delay payment beyond the Payment Deadline. If we determine that Drawing Documentation is not proper, then we shall so advise Beneficiary in writing, specifying all grounds for our determination, within one
Banking Day after the Payment Deadline. 
 Partial drawings are permitted. This L/C shall, except to the extent reduced thereby,
survive any partial drawings. 
 We shall have no duty or right to inquire into the validity of or basis for any draw under this
L/C or any Drawing Documentation. We waive any defense based on fraud or any claim of fraud. 
 The Expiry Date shall
automatically be extended by one year (but never beyond              (the “Outside Date”)) unless, on or before the date 90 days before any Expiry Date, we have
given Beneficiary notice that the Expiry Date shall not be so extended (a “Nonrenewal Notice”). We shall promptly upon request confirm any extension of the Expiry Date under the preceding sentence by issuing an amendment to this
L/C, but such an amendment is not required for the extension to be effective. We need not give any notice of the Outside Date. 

Beneficiary may from time to time without charge transfer this L/C, in whole but not in part, to any transferee (the
“Transferee”). Issuer shall look solely to Account Party for payment of any fee for any transfer of this L/C. Such payment is not a condition to any such transfer. Beneficiary or Transferee shall consummate such transfer by
delivering to Issuer the original of this L/C and a Transfer Notice substantially in the form of Attachment 2, purportedly signed by Beneficiary, and designating Transferee. Issuer shall promptly reissue or amend this L/C in favor of
Transferee as Beneficiary. Upon any transfer, all references to Beneficiary shall automatically refer to Transferee, who may then exercise all rights of Beneficiary. Issuer expressly consents to any transfers made from time to time in compliance
with this paragraph. 
 Any notice to Beneficiary shall be in writing and delivered by hand with receipt acknowledged or by
overnight delivery service such as FedEx (with proof of delivery) at the above address, or such other address as Beneficiary may specify by written notice to Issuer. A copy of any such notice shall also be delivered, as a condition to the
effectiveness of such notice, to:              (or such replacement as Beneficiary designates from time to time by written notice). 

No amendment that adversely affects Beneficiary shall be effective without Beneficiary’s written consent. 

  
 E-2

 This L/C is subject to and incorporates by reference: (a) the International Standby
Practices 98 (“ISP 98”); and (b) to the extent not inconsistent with ISP 98, Article 5 of the Uniform Commercial Code of the State of New York. 

Very truly yours, 
 [Issuer Signature] 

  
 E-3

 ATTACHMENT 1 TO EXHIBIT E 

FORM OF SIGHT DRAFT 
 [BENEFICIARY LETTERHEAD] 
 TO: 
 [Name and Address of Issuer] 
 SIGHT DRAFT 

AT SIGHT, pay to the Order of                 , the sum of
                     United States Dollars ($            ). Drawn under
[Issuer] Letter of Credit No.                  dated                 .

 [Issuer is hereby directed to pay the proceeds of this Sight Draft solely to the following account:
                    .] 
 [Name and
signature block, with signature or purported signature of Beneficiary] 
 Date:
                     

  
 E-1-1

 ATTACHMENT 2 TO EXHIBIT E 

FORM OF TRANSFER NOTICE 
 [BENEFICIARY LETTERHEAD] 
 TO: 

[Name and Address of Issuer] (the “Issuer”) 
 TRANSFER NOTICE 
 By signing below, the undersigned, Beneficiary (the
“Beneficiary”') under Issuer’s Letter of Credit No.                      dated
                     (the “L/C”), transfers the L/C to the following transferee (the “Transferee”): 

[Transferee Name and Address] 
 The original
L/C is enclosed. Beneficiary directs Issuer to reissue or amend the L/C in favor of Transferee as Beneficiary. Beneficiary represents and warrants that Beneficiary has not transferred, assigned, or encumbered the L/C or any interest in the L/C,
which transfer, assignment, or encumbrance remains in effect. 
 [Name and signature block, with signature or purported signature of
Beneficiary] 
 Date:
                     

  
 E-2-1

 EXHIBIT F 
 RULES AND REGULATIONS 
 NOTHING IN THESE RULES AND REGULATIONS
(“RULES AND REGULATIONS”) SHALL SUPPLANT ANY PROVISION OF THE LEASE. IN THE EVENT OF A CONFLICT OR INCONSISTENCY BETWEEN THESE RULES AND REGULATIONS AND THE LEASE, THE LEASE SHALL PREVAIL. 

1. No Tenant Party shall encumber or obstruct the common entrances, lobbies, elevators, sidewalks and stairways of the Building(s) or the Project or use
them for any purposes other than ingress or egress to and from the Building(s) or the Project. 
 2. Except as specifically provided in the
Lease, no sign, placard, picture, advertisement, name or notice shall be installed or displayed on any part of the outside of the Premises or the Building(s) without Landlord’s prior written consent. Landlord shall have the right to remove, at
Tenant’s sole cost and expense and without notice, any sign installed or displayed in violation of this rule. 
 3. If Landlord objects in
writing to any curtains, blinds, shades, screens, hanging plants or other similar objects attached to or used in connection with any window or door of the Premises or placed on any windowsill, and (a) such window, door or windowsill is visible
from the exterior of the Premises and (b) such curtain, blind, shade, screen, hanging plant or other object is not included in plans approved by Landlord, then Tenant shall promptly remove such curtains, blinds, shades, screens, hanging plants
or other similar objects at its sole cost and expense. 
 4. No deliveries shall be made that impede or interfere with other tenants in or the
operation of the Project. 
 5. Tenant shall not place a load upon any floor of the Premises that exceeds the load per square foot that
(a) such floor was designed to carry or (b) is allowed by Applicable Laws. Fixtures and equipment that cause noises or vibrations that may be transmitted to the structure of the Building(s) to such a degree as to be objectionable to other
tenants shall be placed and maintained by Tenant, at Tenant’s sole cost and expense, on vibration eliminators or other devices sufficient to eliminate such noises and vibrations to levels reasonably acceptable to Landlord and the affected
tenants of the Project. 
 6. Tenant shall not use any method of heating or air conditioning other than that approved in writing by Landlord.

 7. Tenant shall not install any radio, television or other antennae; cell or other communications equipment; or other devices on the roof or
exterior walls of the Premises except in accordance with the Lease. Tenant shall not interfere with radio, television or other digital or electronic communications at the Project or elsewhere. 
 8. Canvassing, peddling, soliciting and distributing handbills or any other written material within, on or around the Project (other than within the Premises) are prohibited. Tenant shall cooperate with
Landlord to prevent such activities by any Tenant Party. 

  
 F-1

 9. Tenant shall store all of its trash, garbage and Hazardous Materials in receptacles within its Premises
or in receptacles designated by Landlord outside of the Premises. Tenant shall not place in any such receptacle any material that cannot be disposed of in the ordinary and customary manner of trash, garbage and Hazardous Materials disposal. Any
Hazardous Materials transported through Common Areas shall be held in secondary containment devices. Tenant shall be responsible, at its sole cost and expense, for Tenant’s removal of its Hazardous Materials. 

10. The Premises shall not be used for lodging or for any improper, immoral or objectionable purpose. No cooking shall be done or permitted in the
Premises; provided, however, that Tenant may use (a) equipment approved in accordance with the requirements of insurance policies that Landlord or Tenant is required to purchase and maintain pursuant to the Lease for brewing coffee, tea,
hot chocolate and similar beverages, (b) microwave ovens for employees’ use and (c) equipment shown on plans approved by Landlord; provided, further, that any such equipment and microwave ovens are used in accordance with
Applicable Laws. 
 11. Tenant shall not, without Landlord’s prior written consent, use the name of the Project, if any, in connection with
or in promoting or advertising Tenant’s business except as Tenant’s address. 
 12. Tenant shall comply with all safety, fire
protection and evacuation procedures and regulations established by Landlord or any Governmental Authority. 
 13. Tenant assumes any and all
responsibility for protecting the Premises from theft, robbery and pilferage, which responsibility includes keeping doors locked and other means of entry to the Premises closed. 
 14. Tenant shall not modify any locks to the Premises without Landlord’s prior written consent, which consent Landlord shall not unreasonably withhold, condition or delay. Tenant shall furnish
Landlord with copies of keys, pass cards or similar devices for locks to the Premises. 
 15. Tenant shall cooperate and participate in all
reasonable security programs affecting the Premises. 
 16. Tenant shall not permit any animals in the Project, other than for guide animals or
for use in laboratory experiments. 
 17. Bicycles shall not be taken into the Building(s) except into areas designated by Landlord. 

18. The water and wash closets and other plumbing fixtures shall not be used for any purposes other than those for which they were constructed, and no
sweepings, rubbish, rags or other substances shall be deposited therein. 
 19. Discharge of industrial sewage shall only be permitted if Tenant,
at its sole expense, first obtains all necessary permits and licenses therefor from all applicable Governmental Authorities. 

  
 F-2

 20. Smoking is prohibited inside the Building, but is permitted in designated outdoor areas of the Project.

 21. The Project’s hours of operation are currently 24 hours a day, seven days a week. 

22. Tenant shall comply with all orders, requirements and conditions now or hereafter imposed by Applicable Laws or Landlord (“Waste
Regulations”) regarding the collection, sorting, separation and recycling of waste products, garbage, refuse and trash generated by Tenant (collectively, “Waste Products”), including (without limitation) the separation of
Waste Products into receptacles reasonably approved by Landlord and the removal of such receptacles in accordance with any collection schedules prescribed by Waste Regulations. 
 23. Tenant, at Tenant’s sole cost and expense, shall cause the Premises to be exterminated on a monthly basis to Landlord’s reasonable satisfaction and shall cause all portions of the Premises
used for the storage, preparation, service or consumption of food or beverages to be cleaned daily in a manner reasonably satisfactory to Landlord, and to be treated against infestation by insects, rodents and other vermin and pests whenever there
is evidence of any infestation. Tenant shall not permit any person to enter the Premises or the Project for the purpose of providing such extermination services, unless such persons have been approved by Landlord. If requested by Landlord, Tenant
shall, at Tenant’s sole cost and expense, store any refuse generated in the Premises by the consumption of food or beverages in a cold box or similar facility. 
 Landlord may waive any one or more of these Rules and Regulations for the benefit of Tenant or any other tenant, but no such waiver by Landlord shall be construed as a waiver of such Rules and Regulations
in favor of Tenant or any other tenant, nor prevent Landlord from thereafter enforcing any such Rules and Regulations against any or all of the tenants of the Project, including Tenant. These Rules and Regulations are in addition to, and shall not
be construed to in any way modify or amend, in whole or in part, the terms covenants, agreements and conditions of the Lease. Landlord reserves the right to make such other and reasonable rules and regulations as, in its judgment, may from time to
time be needed for safety and security, the care and cleanliness of the Project, or the preservation of good order therein; provided, however, that Tenant shall not be obligated to adhere to such additional rules or regulations until Landlord
has provided Tenant with written notice thereof. Tenant agrees to abide by these Rules and Regulations and any additional rules and regulations issued or adopted by Landlord. Tenant shall be responsible for the observance of these Rules and
Regulations by all Tenant Parties. 

  
 F-3

 EXHIBIT G 
 [Intentionally omitted] 

  
 G-1

 EXHIBIT H 
 TENANT’S PERSONAL PROPERTY 
 To be provided after Term Commencement Date.

  
 H-7

 EXHIBIT I 
 FORM OF ESTOPPEL CERTIFICATE 
  

	To:	BMR-SORRENTO WEST LP 

	    	17190 Bernardo Center Drive 

	    	San Diego, California 92128 

	    	Attention: Vice President, Real Estate Counsel 

  

	    	BioMed Realty, L.P. 

	    	17190 Bernardo Center Drive 

	    	San Diego, California 92128 

  

	Re:	11080 Roselle Street (the “Premises”) at Coast9 Project, San Diego, California (the “Property”) 

The undersigned tenant (“Tenant”) hereby certifies to you as follows: 

1. Tenant is a tenant at the Property under a lease (the “Lease”) for the Premises dated as of
[                    ], 20[    ]. The Lease has not been cancelled, modified, assigned, extended or amended [except
as follows: [                    ]], and there are no other agreements, written or oral, affecting or relating to Tenant’s lease of the
Premises or any other space at the Property. The lease term expires on [                    ], 20[    ].

 2. Tenant took possession of the Premises, currently consisting of
[                    ] square feet, on
[                    ], 20[    ], and commenced to pay rent on
[                    ], 20[    ]. Tenant has full possession of the Premises, has not assigned the Lease or sublet
any part of the Premises, and does not hold the Premises under an assignment or sublease[, except as follows: [                    ]].

 3. All base rent, rent escalations and additional rent under the Lease have been paid through
[                    ], 20[    ]. There is no prepaid rent[, except
$[            ]] [, and the amount of security deposit is $[            ] [in cash][OR][in the form of a letter of
credit]]. Tenant currently has no right to any future rent abatement under the Lease. 
 4. Base rent is currently payable in the
amount of $[            ] per month. 
 5. Tenant is currently
paying estimated payments of additional rent of $[            ] per month on account of real estate taxes, insurance, management fees and common area maintenance expenses.

 6. All work to be performed for Tenant under the Lease has been performed as required under the Lease and has been accepted by
Tenant[, except [                    ]], and all allowances to be paid to Tenant, including allowances for tenant improvements, moving
expenses or other items, have been paid. 
 7. The Lease is in full force and effect, free from default and free from any event
that could become a default under the Lease, and Tenant has no claims against the landlord or offsets or defenses against rent, and there are no disputes with the landlord. Tenant has received no notice of prior sale, transfer, assignment,
hypothecation or pledge of the Lease or of the rents payable thereunder[, except [                    ]]. 

  
 I-1

 8. [Tenant has the following expansion rights or options for the Property:
[                    ].][OR][Tenant has no rights or options to purchase the Property.] 

9. To Tenant’s knowledge, no hazardous wastes have been generated, treated, stored or disposed of by or on behalf of Tenant in, on or
around the Premises or the Project in violation of any environmental laws. 
 10. The undersigned has executed this Estoppel
Certificate with the knowledge and understanding that [INSERT NAME OF LANDLORD, PURCHASER OR LENDER, AS APPROPRIATE] or its assignee is acquiring the Property in reliance on this certificate and that the undersigned shall be bound by this
certificate. The statements contained herein may be relied upon by [INSERT NAME OF PURCHASER OR LENDER, AS APPROPRIATE], [LANDLORD], BioMed Realty, L.P., BioMed Realty Trust, Inc., and any [other] mortgagee of the Property and their respective
successors and assigns. 
 Any capitalized terms not defined herein shall have the respective meanings given in the Lease.

 Dated this [            ] day of
[                    ], 20[    ] 
 TENANT: 
 AMBIT BIOSCIENCES CORPORATION, 

a Delaware corporation 
  

			
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 I-2

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