Document:

NI-EX10.1_2015.3.31

Exhibit 10.1

March 17, 2015

Mr. Donald Brown
114 Edgefield Drive
Downingtown, PA   19335

Dear Donald:

On behalf of NiSource Inc., I am pleased to offer you employment as Executive Vice President Finance reporting to Joseph Hamrock, and Executive Vice President and Chief Financial Officer of NiSource, upon appointment by the NiSource Board. Speaking on behalf of our leadership team, we look forward to the contribution you will make to our organization.  This letter does not constitute an offer of a contract of guaranteed employment; if you accept this offer, you will be an employee at will.  The terms of the offer are as follows.
Position:  You will join us as Executive Vice President Finance, beginning April 6, 2015.  You will report to Joseph Hamrock.  Your work location will be in Columbus, Ohio.
Compensation:  Your annual base salary will be $450,000, payable monthly.  Adjustments to base salary may be made periodically during your employment.  
Benefits:  While you are employed by NiSource Inc., or its subsidiaries (the “Company”), you will be entitled to participate in all benefit plans, including without limitation, any health, life and disability insurance plans, qualified and nonqualified retirement plans, or any other plan or benefit generally afforded to similarly situated executives of NiSource Inc.                             
Short-Term Incentive:  Your annual incentive opportunity under our annual incentive plan will be based on a target of 60% of base salary, with a range of 25% to 95%. The payment of this short-term incentive is dependent upon Company performance, your own performance and your status as an employee in good standing.  Actual payment may be greater than or less than the 60%, based on a combination of the stated factors.  Annual incentive plans are determined each year based on business objectives and market conditions.  
Signing Bonus:  You will receive a signing bonus in the gross amount of $75,000.  This signing bonus will be paid within 30 days of your start date.  You agree to repay this signing bonus to the Company in the event you choose to leave the Company before April 6, 2016. 
Long-Term Incentive:  You will also have the opportunity to participate in a long-term incentive compensation program, under the 2010 Omnibus Incentive Plan, on the same basis as other senior executives of the Company.  Subject to approval by the Officer Nomination and Compensation Committee of the Board, you will receive a long-term incentive grant for 2015 in the amount of $750,000.  One hundred percent of the value of this award will be in restricted stock units, vesting in the first quarter of 2018.    
Special Stock Grant:  To compensate you for the loss of a portion of your incentive awards from your prior employer, you will also receive a grant of restricted stock units pursuant to the 2010 Omnibus Incentive Plan.  The number of shares to be granted will be determined by dividing $510,000 by the fair market value of one common share of NiSource Inc. on the date of grant.  Vesting of the restricted stock shall be based solely on the passage of time. The restricted stock shall vest 1/3 increment on the first anniversary of your employment, and the final 2/3 increment will vest on the second anniversary of your employment.  

Relocation:  As a member of our Senior Management Team, you will be eligible to participate in the NiSource Relocation Policy at the Tier III Managerial Level (the executive level).  The effective date of your relocation will be determined at a later date.
Vacation:  You will receive four weeks of paid vacation per year.  
Change in Control:  Subject to approval by the Officer Nomination and Compensation Committee of the Board, NiSource Inc. will enter into a Change in Control Agreement with you on substantially the same terms as other senior executives of the Company.   
Severance:  You will be eligible to participate in the NiSource Executive Severance Policy in the event your employment with the Company is terminated.            
NiSource Policies.  You are expected to familiarize yourself with and observe all Company policies.  Following your acceptance of this offer and during the course of your employment with the Company, you will have access to confidential and proprietary information of the Company.  You agree to maintain the confidentiality of such information, before, during and after your employment.  
Dispute Resolution:  Should there be any dispute as to the meaning or application of this letter, both parties agree to submit the dispute to nonbinding mediation at the Company's expense.  In the event the parties are unable to resolve the dispute through mediation, they agree to submit the dispute to binding arbitration under the standard employment rules of the American Arbitration Association.  This letter shall be construed in accordance with the laws of the State of Ohio.    

Your employment is contingent upon passing a drug screen, and completion of formal reference checking, which includes a background check of previous employment, military and driving history, professional references, and any criminal record.

I hope that you accept the Company’s offer of employment.  To acknowledge your acceptance, please sign and return one copy of this letter to me.  We are truly delighted with your interest in working with us.  Please feel free to contact me to discuss any questions you may have.  We look forward to you joining us.
	
					
	 
	 
	 
	 
	Sincerely,

	 
	 
	 
	 
	 

	 
	 
	 
	 
	/s/ Robert D. Campbell

	 
	 
	 
	 
	Robert D. Campbell

	 
	 
	 
	 
	Sr. Vice President

	 
	 
	 
	 
	Human Resources

	 
	 
	 
	 
	 

	/s/ Donald Brown
	 
	3/17/2015
	 
	 

	Donald Brown
	 
	DateExhibit 10.26

 

 

VIRGINIA
BIOTECHNOLOGY CENTER

AGREEMENT
OF SUBLEASE

 

THIS
AGREEMENT OF SUBLEASE,
dated as of
the 17th day of
April, 2015 by
and between VIRGINIA BIOTECHNOLOGY
RESEARCH PARTNERSHIP AUTHORITY,
a political subdivision of
the Commonwealth of
Virginia created by
an act of
the Virginia General Assembly,
the purpose of
which is to
develop and operate
the Virginia Biotechnology
Research Park for the
purpose of expanding,
developing and commercializing
knowledge pertaining to scientific
and technological research
among public and
private entities including,
but not limited to,
knowledge in the
area of the
biotechnology and biomedical
sciences (the "Authority"),
and AmpliPhi Biosciences Corporation, (the "Tenant"), recites
and provides:

 

RECITALS:

 

The
Virginia Biotechnology Park
Biotech One Building
("Biotech One") is
part of the Phase
II Complex of
the Virginia Biotechnology
Research Park, which
is being developed
as a biotechnology and
biomedical research park
(the "Research Park").
The Center is
located at 800 East Leigh Street
in the City of Richmond.

 

The
Authority wishes to
sublease to the
Tenant for its
exclusive use and
occupancy office suites on
the 2nd level
of Biotech One
and known as
Offices #6a, 6b,
7, and 8
as depicted on Exhibit A
attached hereto and referred to herein as the "Premises."

 

AGREEMENT
OF SUBLEASE:

 

For
and in
consideration of
the mutual
covenants and
conditions set
forth herein,
the Authority and
the Tenant
agree as
follows:

 

1.           Subleased
Premises.

 

(a)          The
Authority hereby subleases
the Premises
to the Tenant,
and the
Tenant hereby
rents the Premises from the
Authority for the
term (as defined herein).

 

(b)          The
Tenant shall
also have
the right
to use certain
common facilities
and services
of the
Center at
no cost,
and the
option to
purchase additional
services, all
of which are
specified in
Exhibit B attached
hereto and
referred to
herein as
"Common Facilities
and Services."

 

(c)          For
purposes of
patent and
copyright ownership,
the Premises
and the
Center are
to be considered
facilities of the
Virginia Biotechnology
Research Partnership
Authority and not the
facilities of any
Virginia university or
institution.

 

    	1

    	 

    

 

2.           Term.
 The initial term
of this
Sublease (the
"Initial Term") shall
be for a
period of six
(6) months, beginning on
May 1, 2015
(the “Commencement Date”)
and ending October
31, 2015 (the “Termination
Date.”). However, by
special agreement, at
any time from
the commencement date should
the tenant decide
to vacate these
premises, tenant may,
after giving the Authority
60 days prior
notice of intent
to do so,
terminate this lease
with the payment penalty
of one month's
rent. Should tenant
remain in the
premises for full
term, the
Authority grants to the Tenant two one-year renewal options, with each renewal
option dependent upon the Tenant giving the Authority 60 days prior notice of the exercise
of such renewal and dependent upon approval by the Authority.

 

3.           Rent.

 

(a)          The
Tenant shall
pay all
rent and
other charges
to be
paid by
the Tenant
hereunder to
the Authority at
the office
of the Authority
in Richmond, Virginia,
or to such
other individual, firm
or corporation
and at
such other place
as may
be designated by
the Authority. Tenant
agrees to pay the Security
Deposit and the first
month’s rent to reserve
the lab. If the Tenant does not
occupy the space, then these monies are
forfeited to the Authority and this Sublease
is terminated with Tenant having
no further obligations to the Authority.

 

(b)          The
Tenant shall pay
a monthly rent
(the “Monthly Rent”)
without notice, demand or
setoff during the
term hereof based
upon an initial
total annual rent
of $22,740.00. No reduction
or increase in
rent shall be
available for non-material
discrepancies in actual
square footage. During the
Initial Term the Monthly
Rent shall be
$1,895.00 per month. After the Initial
Term, the Monthly rent
shall be increased
annually as of
the date the
first payment of
each Sublease Year is
due beginning with
the second Sublease
Year by an
amount equal to
3% of the last Monthly Rent payable
during the preceding Sublease year.

 

(c)          The
Monthly Rent
is to be
payable in
advance on
the first
day of
each calendar
month during the
term hereof
without notice or
demand and
without setoff
and it
is to be received
at the Authority’s
offices within five (5) days
after the first
day of
each rental month. If the Monthly
Rent is not received in the Authority's
office within five (5) days after
the first day of
each rental
month, there
shall be imposed upon
the Tenant a
late charge equal to 5%
of the monthly rental
amount and the
total outstanding
balance will
be assessed an
interest rate equivalent
to 12% per annum. If the Commencement Date
is not the first
day of a calendar
month, the Tenant shall pay on the first
day of the first
calendar month following the Commencement
Date a proportionate amount of the monthly
Rent for the period of time from
the Commencement Date
to the date on which such first
monthly payment is due.

 

(d)          All
amounts and
charges in
addition to
the Monthly Rent
required to
be paid
by the
Tenant in
accordance with
the terms hereof
shall be deemed
to be additional
rent (the
"Additional Rent").
Such amounts
or charges, if not paid
at the time provided in
this Sublease, shall be collectible
as Additional Rent
with the next installment of the rent
due and payable hereunder;
provided, however,
that nothing herein
contained shall
be deemed to
suspend or delay
the time for
any payment
to be made
by the
Tenant hereunder
or to limit any
other remedy of
the Authority.

 

4.           Space “As Is” . The
tenant shall
take occupancy
of the
Premises
in “as
is” condition.

 

    	2

    	 

    

 

5.           Use
of Premises. The
Tenant shall
use the Premises
for biotechnology and
biomedical research
& development
purposes or advanced
technology initiatives in
information technology, computers,
telecommunications, microelectronics,
chemical, pharmaceutical
or biotechnology as described in Exhibit C. Tenant
shall not use the Premises or permit the Premises
to be used for any other purpose without
the prior written consent
of the Authority, and such consent
shall not be unreasonably withheld. The Tenant
shall comply with all applicable laws
and regulations in connection with its
use and occupancy of the Premises.

 

6.           Security
Deposit. Upon execution
of this Sublease,
the Tenant
shall deposit
with the Authority
cash in the
amount of $1,895.00.
Such deposit shall
be held by
the Authority without interest,
for the entire
term of this
Sublease, and until
all of the
Tenant’s obligations under this
Sublease have been
paid in full,
as security for
the performance by
the Tenant of
all of its obligations
under this Sublease.
If at any
time during the
term of this
Sublease any rent
or other charge to
be paid by
the Tenant is
not paid when
due, or the
Tenant fails to
perform any of its
obligations under this
Sublease, the Authority
may, at its
option, apply any
part of such deposit
to the payment
of any such
overdue rent or
other charge or
to the reimbursement
of the Authority for
any loss or
damage sustained as
a result of
the Tenant’s failure
to perform its obligations. If
such deposit, or
any part thereof,
is applied by
the Authority as
provided herein, upon written demand by the Authority, the Tenant shall remit
to the Authority forthwith a sufficient amount in cash to restore such deposit to the original amount thereof. When all the Tenant’s
obligations hereunder have been paid in full, the Authority shall return to the Tenant such deposit or so much thereof as held
by the Authority for the Tenant. The Authority shall have the right to transfer the funds deposited hereunder by the Tenant to
any purchaser of the Authority’s interest in the Subleased Premises, and upon any such transfer of such funds the Authority
shall be discharged from any further liability with respect hereto.

 

7.           Common
Areas.
All areas
and common
facilities furnished
by the
Authority inside or
outside the Center for the
general use,
in common,
of tenants
or occupants
of the Center
and their
employees and
invitees shall
at all
times be
subject to
the exclusive control
and management of
the Authority.

 

8.           Services
and Utilities.
(a) The
following services will
be supplied
to the Tenant
at the expense of
Authority during the term hereof:

 

		(i)	Electricity.

 

		(ii)	Heating
and air
conditioning in season
Monday through
Friday from
7:30 a.m.
to 5:30 p.m.,
except on
the following holidays:
Christmas, New Year's
Day, Thanksgiving,
July 4th, Memorial
Day and
Labor Day.

 

		(iii)	Cleaning services
for the Premises, common areas and
the rest rooms of
the Building, Monday through Friday
of each week,
except on holidays.

 

		(iv)	Hot and cold water and
lavatory supplies; additionally, hot
and cold water
are to be
supplied to the Premises.

 

		(v)	Maintenance and
electric lighting
for all common
areas.

 

    	3

    	 

    

 

(b)          If
 any 
law,  regulation, 
executive  or 
administrative  order
 requires 
that  the Authority or
Tenant reduce
or maintain at
a certain level
the consumption of
electricity for the Premises
or the Center
which affects
the heating,
air conditioning,
lighting, or
hours of operation of the Premises
or the Center, the Authority and the Tenant
shall each adhere
to and abide by such laws,
regulations, or executive or administrative
orders.

 

(c)          Failure
by the
Authority to furnish
the services
provided above
or any
cessation thereof
resulting from
causes beyond
the control
of the Authority
shall not render
the Authority liable for damages
to either person or property,
nor be construed as an
eviction of the Tenant,
nor work an abatement
of rent, nor relieve
the Tenant from
fulfillment of any covenant
or agreement hereof.

 

9.           Real
Property Taxes.
The Authority shall
pay all
real property
taxes, including special
assessments, if any,
which may
be levied or assessed
against the Premises.

 

10.         Tenant's
Equipment, Fixtures
and Alterations. (a)
The Tenant
will not install
or allow
to be installed
in the
Premises any
electrically operated
equipment or other
machinery other than general
office, laboratory and
research equipment
or any equipment which
will necessitate any
changes, replacements or additions
to, or changes in
the use of, the water system,
heating system, plumbing system,
air-conditioning system, or electrical
system in the Premises without first
obtaining the prior written
consent of the Authority, which consent
shall not be unreasonably withheld. The
Tenant shall
be solely responsible
for any
and all
costs associated
with the installation and maintenance
of such equipment. The Tenant shall also
be solely responsible for any and
all costs associated
with high speed telecommunications access
and usage within the subleased premises.
The Tenant acknowledges and accepts
a “building standard” for telecommunications and
data (Internet) service
provided by the Authority on the subleased
premises. The
Tenant further
acknowledges that
they shall
be responsible for
any and
all costs associated
with the possession of these services by
any third party
supplier or carrier, including the
cost of any equipment
upgrades or changes
to the “building standard”
provided by the Authority in the
subleased premises. These
changes may,
at the requirement of the supplier
or carrier, also require
connection, access or other fees
in addition to equipment costs
and/or monthly service fees to be paid
by the tenant for such service.
The parties acknowledge and agree
that Tenant
shall have the
right to
upgrade electrical
and telephone
service into 
the Premises at its own expense,
provided it receives
the prior written consent
of the Authority.

 

(b)          The
Tenant shall
not make or
cause to be
made any
interior or
exterior modifications
or additions
to the Premises
without the prior
written consent
of the Authority.
The Tenant
shall present
to the Authority
plans and specifications
for such work
at the
time such consent is sought.
Upon approval of such plans and specifications,
the Tenant shall employ a contractor
acceptable to the Authority to make such improvements.
Such improvements
shall comply with the requirements of all
applicable laws.

 

(c)          The
Tenant shall
pay all
contractors and
materialmen promptly
to minimize
the possibility of
any lien
being asserted against
the Premises.
If any
such lien
is asserted,
the Tenant shall take such action
as may be necessary to have such
lien resubleased
or bonded within thirty (30)
days after the
Tenant receives notice thereof.

 

    	4

    	 

    

 

(d)          Upon
the expiration
of the
Term, the
Tenant shall
remove all
trade fixtures
and furnishings
installed by
the Tenant
and not
a part
of the real
estate or
of the furnishings
provided by
the Authority,
and Tenant
shall surrender the
Premises as
provided hereinafter. The Tenant
shall repair all damage
to the Premises caused by
the installation or removal of any
fixtures or other furnishings. All trade
fixtures and furnishings which the Tenant
has not removed prior
to the termination or expiration of the
term hereof shall become
the property of the Authority.

 

11.         Insurance.
(a) During
the Term,
the Tenant
shall, at
its expense, insure
the Premises
and all
activities conducted
by the
Tenant in
the Center
under a
general liability
insurance policy with a combined
property damage, bodily injury and
death liability limit of at least
$1,000,000. Such policy of insurance
shall name the
Authority and any person
or entity having an
interest in the Center and
designated by the Authority as additional
insured parties and
shall contain a clause that the insurer
shall not cancel or change the terms of such insurance policy without first
giving the Authority and such other person
or entity ten (10) days' prior
written notice thereof.
Such insurance policy shall be issued by
an insurance company rated
A or higher by Best and
copies thereof or the issuer's certificate
of insurance shall be delivered by the Tenant
to the Authority and to all other
additional insured parties.

 

(b)          The
Tenant shall
not do or
allow to
be done in
or about
the Premises
anything which
is prohibited under
any policy
of insurance carried
by the
Authority insuring against
loss or damage
by fire or
other hazards.
The Tenant agrees
that if its
use or occupancy
of the Premises causes the premium
for such fire or other insurance carried by
the Authority to be higher
than the minimum premium applicable for
such insurance, the Tenant shall pay
the difference promptly upon demand
therefor by the
Authority.

 

(c)          The
Authority agrees
to maintain,
at its
expense, an
appropriate fire,
extended coverage
and malicious
mischief insurance
policy on the
Center. The Tenant
shall be furnished
with copies of
all such insurance
policies or the issuers'
certificate of insurance. The Tenant
shall, at
its expense, insure the
Tenant's furniture,
furnishings, equipment,
improvements and trade
fixtures located in the Premises,
and cause its subtenants
to insure their furniture, furnishings,
equipment, improvements
and trade fixtures
located in
the Premises, under a standard
fire and extended coverage
insurance policy providing adequate coverage to replace
such property. The
Tenant acknowledges
that the Authority
shall not be
responsible for carrying
insurance of any
kind on the Tenant's furniture,
furnishings, equipment, improvements
or trade fixtures and
that the Authority
shall not be obligated
to repair or
replace the
same in the
event of a fire or other casualty
affecting the Premises.

 

12.         Building
Repairs and
Alterations.
The Authority reserves
the right
at any
time to make
repairs and
reasonable alterations
to the Center,
other than those
repairs necessitated
by the
negligence or
willful misconduct
of the Tenant
or its subtenants,
and to
enter the
Premises to
take all necessary
action to
make such repairs and
alterations. Such
entry shall not
be deemed to constitute
an eviction
of the Tenant
or to give the Tenant
any right
to abatement of rent
for loss or interruption
of the business
of the Tenant;
provided, however,
the Authority shall use
its best efforts
to minimize any interference with the
business of the Tenant.

 

13.         Surrender.
At the expiration
or termination
of the term
of this
Sublease, the
Tenant shall
quit and
surrender the
Premises and
all Authority-supplied
furnishings and
equipment in
good order
and condition,
ordinary wear
and use
and casualty accepted.
The Tenant shall surrender to the Authority
all keys and electronic
identification cards or passes used in
connection with the Premises.

 

    	5

    	 

    

 

14.         Tenant's
Property, etc.
(a) All
personal property
belonging to
the Tenant,
located in
or about
the Premises
shall be
there at
the sole
risk of
the Tenant;
and neither
the Authority
nor Authority's agent
shall be liable
for the theft
or misappropriation thereof,
nor for any
damage or injury
thereto, nor for
damage or
injury to
the Tenant
or any
of its
officers, agents or
employees, or to
other persons
or to any
property caused
by fire, explosion,
water, gas,
electricity, leaks
from the
roof or other
portions of
the Building, the
bursting or
leaking of
pipes, plumbing, electrical
wiring and equipment
and fixtures of
any kind, or
by any act
or neglect of
other Tenants or
occupants of the
Building, or
due to
any other
cause whatsoever.

 

(b)          The
Tenant agrees
to notify the
Authority immediately of
any hazard,
fire or accident
in the Premises
or in the
Center and
of any defects
therein or
in any of
the fixtures
or equipment located
therein.

 

(c)          The
Tenant shall
be responsible for
and shall
pay when
due all
municipal, county
or state
taxes assessed during
the term
of this
Sublease against
any leasehold
interest or personal
property of any kind, owned by or
placed in the Premises by
the Tenant.

 

15.         Damage
or Destruction.
If the
Premises are
damaged by
fire, the elements
or by
accident, but
are not thereby
rendered untenantable,
the Authority shall,
at its
expense, cause
such damage
to be repaired
and the
rent shall
not be abated.
If by
reason of such
occurrence, the Premises
are rendered untenantable in part
only, the Authority shall, at its expense,
cause such damage
to be repaired,
and the rent
shall be abated
proportionately to the
portion of the
Premises rendered
untenantable until such damage is repaired.
If the Premises are rendered
wholly untenantable by reason
of such occurrence, the Authority
shall, at its expense, cause
such damage to be repaired,
and the rent shall be abated in full until the Premises
have been restored and
rendered tenantable,
unless within 60 days after
such occurrence, the Authority gives the
Tenant written notice
that it has elected not to cause
such damage to be repaired, in which
event this Sublease and
the tenancy hereby created shall terminate
as of the date of such occurrence, and
the rent
shall be adjusted
as of
such date. If
the Authority
elects to repair
and repairs
are not completed within
90 days, Tenant may terminate
this Sublease.

 

16.         Legal
and Environmental Compliance.

 

(a)          During
the Term including
all renewals
or extensions thereto,
the Tenant
agrees to comply
with all applicable
environmental laws (the "Environmental
Laws").

 

(b)          The
Authority represents
to the Tenant
that (i) it
has not
received any
notice of
any alleged
violation at
the Premises
of any Environmental
Laws; and
(ii) to the
best of
the Authority's knowledge, information
and belief with respect to the Premises
and the Center, there are
no violations of any Environmental Laws.

 

17.         Default.
(a) The
following events shall constitute
a default hereunder:

 

(i)          The
Tenant fails
to pay any
rent, security deposit,
additional rent
or other charge
to be paid
by the
Tenant hereunder
within five days
after the due
date therefor.

 

    	6

    	 

    

 

(ii)         The
Tenant fails
to perform
any of
its other obligations
under this
Sublease for
more than thirty
(30) days
after written notice
of such default
given by
the Authority to
the Tenant
unless Tenant
shall provide evidence
of commencing
corrective measures during such
period and shall then pursue them to
completion within a reasonable
period of time.

 

Upon
the occurrence of
a default,
in addition
to all
remedies the
Authority may
have at law or in
equity, and
the right to be reimbursed
by the Tenant
for all reasonable attorneys'
fees and
court costs
incurred by
the Authority as
a result
of such default,
the Authority shall have
the immediate right to re-enter the Premises
and remove all persons and
property therefrom and store such property
in a public warehouse or elsewhere at
the cost of, and
for the account of, the Tenant.
The Authority shall have
the right
to take such action without service
of notice or
resort to legal process and
without being deemed guilty
of trespass or becoming liable for any
loss or damage which may
be occasioned thereby. If
the Authority elects to re-enter or to take possession of
the Premises, the Authority may,
at its option, either
terminate this Sublease, or without
terminating this Sublease, re-sublease
the Premises or any
part thereof, for the benefit
of the Tenant, for such term
or terms (whether shorter or longer than
the term of this Sublease) and
at such rent or rents
and upon such other terms and
conditions as the Authority,
in its sole discretion, deems advisable.
No re-entry or taking possession of the Premises by
the Authority shall be construed
as an election
by the Authority
to terminate this Sublease
unless written
notice of such
intention is given by
the Authority to the Tenant
or this Sublease is terminated by
an order or a decree of a court
of competent jurisdiction. Notwithstanding any such reletting without termination,
the Authority may
at any
time thereafter elect to terminate
this Sublease for any previous default
by the Tenant
in the performance of the terms and conditions
of this Sublease.

 

(b)
No re-entry or
taking possession of
the Premises
by the
Authority or any
other action taken
by the
Authority, as
a result
of any
default of
the Tenant, shall
relieve the Tenant
of any of
its liabilities and obligations
under this Sublease
whether or not the
Premises are relet.

 

18.         Access.
Upon reasonable notice,
except in
the case of
emergency, the
Authority shall have
the right
to enter the
Premises at
all reasonable
times to examine
the Premises
and, during
the last year of
the term, to show
such property to prospective
tenants, mortgagees or purchasers.

 

19.         Quiet
Enjoyment.
The Authority covenants
that the Tenant
shall have quiet
and peaceful
possession and
enjoyment of the
Premises for the Term.

 

20.         Special
Conditions. The
special terms
and conditions
set forth
on Exhibit
D (Environmental
Health and
Safety Guidelines
and Practices)
hereto are
hereby incorporated into
this Sublease by
reference.

 

21.         Assignment
and Subletting.
The Tenant
may not assign
this Sublease
or sublet
the Premises without written permission
from the Authority.

 

    	7

    	 

    

 

22.         Successors.
Subject to
the restrictions
on assignment
and subletting
set forth
above, this
Sublease and
the terms
hereof shall
be binding
upon and
inure to the
benefit of
the Authority and
its respective successors and assigns.

 

23.         Authority
of Parties;
Title; Zoning. The
Authority and the
Tenant each
warrant to
the other that
the person or
persons executing
this Sublease
on behalf
of the Authority
or the Tenant,
as the
case may
be, has
authority to do
so and
fully obligate the
Authority or the
Tenant, as
the case
may be,
to all
terms and
provisions of
this Sublease. 
If the Authority
or the Tenant
is a corporation,
each warrants
that it has
legal authority
to operate
and is
authorized to
do business in the
state in which the Premises
are situated.

 

24.         Non-Waiver.
The failure
of the Authority
or the Tenant
to insist
upon the
strict performance
of any
of the terms
hereof shall
not constitute
or be construed
as a
waiver or
relinquishment for
the future of
any such terms,
and such terms
shall continue in
full force
and effect.
The payment of rent by
the Tenant or the receipt of rent
by the Authority, with knowledge
of the breach of any term herein contained,
shall not be deemed a waiver of such breach.

 

25.         Notices.
All notices
from the Tenant
to the Authority
required or
permitted by
any provision
of this Sublease
shall be in
writing and
effective when
delivered or
upon second day
after being sent
by registered or
certified mail and addressed
as follows or
upon receipt when delivered
by overnight courier
or telecopy:

 

Virginia
Biotechnology Research Partnership
Authority

800 East
Leigh Street

Richmond, Virginia
23219

 

All
notices from
the Authority to
the Tenant
so required
or permitted shall
be in writing
and effective
when delivered
or upon the
second day
after being
sent by
registered or
certified mail
and addressed as
follows:

 

AmpliPhi Biosciences Corporation
(Subtenant)

Virginia
Biotechnology Research Park

800 E.
Leigh Street

Richmond, VA
23219

 

Either
party may, at
any time,
designate in
writing a substitute
address for
the address
set forth above,
and thereafter notices shall be directed
to such substitute address.

 

26.         Memorandum.
Each of
the parties agrees
that, upon the
request of
the other,
it will execute
and deliver
in recordable
form a memorandum
of this Sublease.
The party who
records such memorandum shall pay the
recording cost therefor.

 

27.         Titles.
The titles
and paragraph
headings used
herein are
for purposes of
convenience only
and shall
not be construed
to limit or
extend the meaning
of any
part of this
Sublease.

 

    	8

    	 

    

 

28.         Applicable
 Law. This
 Sublease 
shall  be  governed
 by 
and  construed
 in accordance
with the laws of the
Commonwealth of Virginia.

 

29.         Force
Majeure. 
If by
reason of acts of
God, strikes, lockouts or other
industrial disturbances; acts
of public enemies; orders of any
kind of the government of
the United States
or the Commonwealth of
Virginia, or any
civil or military
authority; insurrections; riots;
epidemics; landslides; lightning;
earthquakes; fires; hurricanes; tornadoes;
blizzards, or other storms; floods, washouts;
droughts; arrests; restraint
of government and people; civil
disturbances; explosions; breakage
or accident to machinery;
partial or entire failure
of utilities; or any
cause or event not reasonably
within the control of the Authority,
the Authority is unable
in whole or in part to carry
out its agreements contained in
this Sublease, the Authority shall not
be deemed in Default during
the continuance of such inability.

 

29.         Entire
Agreement.
This Sublease
contains the
entire agreement
between the Authority
and the Tenant
relating to the Premises
and supersedes
all negotiations, understandings
and agreements,
written or
oral, between
the parties.
This Sublease
shall not be amended
or modified, and no waiver
of any provision hereof
shall be effective, unless set forth
in a written instrument signed
by the Authority and the
Tenant.

 

    	9

    	 

    

 

WITNESS
the following signatures:

 

	 	VIRGINIA BIOTECHNOLOGY RESEARCH PARTNERSHIP AUTHORITY
	 	 	 
	 	By:  	 
	 	 	Carrie C. Roth
	 	 	Executive Director
	 	 	 
	 	Date: April 17, 2015
	 	 	 
	 	SUBTENANT
	 	 	 
	 	By:  	/s/ Baxter Phillips, III
	 	 	 
	 	 	
        Its: Baxter Phillips, III

               Chief
        Business Officer

	 	 	 
	 	Date: April 17, 2015

 

    	10

    	 

    

 

EXHIBIT A

 

 

    	11

    	 

    

 

EXHIBIT
B

 

SERVICES
AND SUPPORT

 

SERVICES
WHERE SEPARATE CHARGES
APPLY:

 

Telecommunications
capabilities, Ethernet access,
modem compatibility, telephone service
and equipment will be at
tenant’s expense.

 

OWNER’S
RIGHTS

 

The
Virginia Biotechnology
Research Partnership
and VCU
reserve the
right to
promulgate and
amend a
list of reasonable
rules, regulations,
procedures, and
schedules for the use
of  all
common and
shared facilities
and equipment
and to
insure fair apportionment
of the amenities
among the users and to
minimize operating costs exposure to liability.

 

    	12

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