Document:

exv10w4

Exhibit 10.4

SECOND AMENDMENT TO LEASE

     This Second Amendment to Lease (this “Second Amendment”), made as of the 26th day
of June, 2009, by and between ARE-MA REGION NO. 28, LLC, a Delaware limited liability company
(“Landlord”) and ALNYLAM PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”).

WITNESSETH :

     WHEREAS, Landlord and Tenant are parties to a Lease dated as of September 26, 2003, as amended
by a First Amendment to Lease dated March 16, 2006 between Landlord (as successor to Three Hundred
Third Street LLC), and Tenant (as successor to Alnylam U.S., Inc., a Delaware corporation that is a
subsidiary of Tenant and was formerly known as Alnylam Pharmaceuticals, Inc. (the “Original
Tenant”), pursuant to an Assignment of Lease dated February 28, 2006 between Original Tenant and
Tenant) (as so amended, the “Lease”); and

     WHEREAS, pursuant to the Lease, Landlord leases to Tenant certain premises within the building
known and numbered as 300 Third Street, Cambridge, Massachusetts (the “Building”), which premises
include but are not limited to space on the third and fourth floors of the Building and are more
particularly described in the Lease; and

     WHEREAS, Tenant subleases a portion of the second floor pursuant to a Sublease dated as of
September 8, 2006 (the “Sublease”) between Archemix Corp. (“Archemix”) as sublandlord, and Tenant
as subtenant (as successor to Momenta Pharmaceuticals, Inc. (“Momenta”) pursuant to that certain
Assignment, Assumption and Consent Agreement; and First Amendment to Sublease dated October 31,
2007 by and among Tenant, Archemix and Momenta); and

     WHEREAS, Tenant desires to terminate the Sublease and add to the Premises demised under the
Lease the space on the second floor consisting of approximately 33,022 square feet (the “Second
Floor Premises”) and the chemical storage room on Level P-1 consisting of approximately 507 square
feet (the “507 SF Chemical Storage Room,” which together with the Second Floor Premises is referred
to herein as the “Additional Premises”) and otherwise to amend the Lease in certain particulars;
and

     WHEREAS, Landlord and Tenant have agreed to amend the Lease in certain particulars to
accomplish the foregoing and other matters set forth herein as more particularly provided below.

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

     1. Defined Terms. All capitalized terms used and not otherwise defined herein shall
have the respective meanings ascribed to them in the Lease. In the event of any inconsistency

 

 

between the Lease and this Second Amendment, the provisions of this Second Amendment shall
control, and all other provisions of the Lease shall remain in full force and effect.

     2. Additional Premises Commencement Date. The Effective Date and the Rent
Commencement Date with respect to the Additional Premises shall be July 1, 2009 (the “Additional
Premises Commencement Date”).

     3. Modifications to Lease. Effective as of the Additional Premises Commencement Date,
the Lease is hereby modified as follows:

	 	(a)	 	Article 1D entitled “Premises” is hereby deleted in its entirety and replaced
with the following:

	 	 	 	 	 	 	 
	 

	 	D.
	 	Premises:
	 	Square feet (Rentable): A total of
approximately 95,410 comprised of 33,022 square feet on Level 02 (the
“Second Floor Premises”), 32,537 square feet on Level 03 (the “Third
Floor Premises”), 28,428 square feet on Level 04 (the “Fourth Floor
Premises”), 366 square feet relating to the rooftop penthouse, 185
square feet relating to the acid neutralization room, 365 square feet
relating to one Level P-1 chemical storage room (the “365 SF Chemical
Storage Room”) and 507 square feet relating to a second Level P-1
chemical storage room (the “507 SF Chemical Storage Room”) (the rooftop
penthouse, acid neutralization room, 365 SF Chemical Storage Room and
507 SF Chemical Storage Room are hereinafter collectively referred to
as the “Peripheral Spaces”).

	 	(b)	 	The Additional Premises and the 507 SF Chemical Storage Room are shown on
Exhibit A attached hereto and made a part hereof, which Exhibit A is hereby attached to
and made a part of the Lease.
	 
	 	(c)	 	Article 1F entitled “Landlord’s Address” is hereby deleted in its entirety and
replaced with the following:

	 	 	 	 	 	 	 
	 

	 	F.
	 	Landlord’s Address:
	 	Alexandria Real Estate Equities, Inc.
	 

	 	 	 	 	 	385 E. Colorado Boulevard, Suite 299
	 

	 	 	 	 	 	Pasadena, CA 91101
	 

	 	 	 	 	 	Attention: Corporate Secretary

	 	(d)	 	Article 1G entitled “Building Manager/Address” is hereby deleted, and any
notices or other communications to be sent to the Building Manager shall be sent to the
Landlord at the Landlord’s Address.

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	 	(e)	 	Article 1I entitled “Expiration Date” is hereby deleted in its entirety and
replaced with the following:

	 	 	 	 	 	 	 
	 

	 	I.
	 	Expiration Date:
	 	September 30, 2016

	 	 	 	The foregoing amendment to the Expiration Date shall operate to extend the Original
Term, and Tenant shall continue to have two options to extend the Term as set forth
in the second paragraph of Article 2 of the Lease, provided that 95% of “Fair Market
Rent” shall be: (i) for the first Extended Term, determined in the manner as set
forth in Article 2 of the Lease, and (ii) for the second Extended Term, no less than
the Monthly Rent and Parking Fee, as applicable, for the 12-month period ending on
the last day of the first Extended Term.
	 
	 	(f)	 	Article 1J is hereby deleted in its entirety and replaced with the following:

	 	 	 	 	 	 	 
	 

	 	J.
	 	Security Deposit:
	 	None.

	 	(g)	 	Landlord shall return to Tenant the Security Deposit held by Landlord pursuant
to Article 23 of the Lease, and promptly upon execution of this Second Amendment by
Landlord and Tenant, Landlord shall submit the original letter of credit held by
Landlord as the Security Deposit under the Lease to the issuing bank with a notice of
cancellation of such letter of credit.
	 
	 	(h)	 	Article 1K entitled “Monthly Rent” is hereby amended so that beginning on the
Additional Premises Commencement Date the Monthly Rent for the entire Premises shall be
as set forth in the table below:

[Second Amendment continues on next page]

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	 	 	ANNUAL	 	MONTHLY	 	RATE PER SQUARE
	PERIOD	 	RENT	 	RENT	 	FOOT1
	July 1, 2009
through October 9,
2011

	 	$	3,726,715	 	 	$	310,560	 	 	Set forth in Footnote 1 below
	October 10, 2011
through September
30, 2012

	 	$	3,912,764	 	 	$	326,064	 	 	$41.01 per square foot
	October 1, 2012
through September
30, 2013

	 	$	4,069,237	 	 	$	339,103	 	 	$42.65 per square foot
	October 1, 2013
through September
30, 2014

	 	$	4,232,388	 	 	$	352,699	 	 	$44.36 per square foot
	October 1, 2014
through September
30, 2015

	 	$	4,401,263	 	 	$	366,772	 	 	$46.13 per square foot
	October 1, 2015
through September
30, 2016

	 	$	4,577,772	 	 	$	381,481	 	 	$47.98 per square foot

	 	(i)	 	The first sentence of Article 1N of the Lease is hereby deleted and replaced
with the following (it being understood that the second sentence of Article 1N is
unchanged):

	 	 	 	 	 	 	 	 	 
	 

	 	N.
	 	Tenant’s Pro Rata Share:
	 	 	72.48	%

	 	(j)	 	Article 1R entitled “Parking Fee/Parking Spaces” is hereby deleted in its
entirety and replaced with the following:

	 	 	 	 	 	 	 
	 

	 	R.
	 	Parking Fee:
	 	Fair market parking rates, as
adjusted from time to time. As of the Additional Premises

 

			
	1	 	The rental rates per square foot for the
portions of the Premises for the period from July 1, 2009 through
October 9, 2011 are as set forth below:

	 	 	 	 	 
	PORTION OF PREMISES	 	RATE PER SQUARE FOOT
	Level 03, Suite 300
	 	$	45.50	 
	Roof and Chem. Suite 300A
	 	$	45.50	 
	Level 04, Suite 401
	 	$	45.50	 
	Suite 402 (First Amendment)
	 	$	11.95	 
	Level 02, Suite 200 and 507 SF Chemical
Storage Room
	 	$	45.00	 

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	 	 	 	 	 	Commencement Date the Parking Fee shall be $215 per space per month, subject to
future adjustment in accordance with the Lease.

	 
	 
	 	 	 	Parking Spaces: 	 	 102 non-reserved spaces.

	 	(k)	 	Article 2 of the Lease is hereby amended to insert the following sentence into
the sixth paragraph of Article 2, after the sentence that ends with the phrase “in each
case also referred to below collectively as ‘Fair Market Rent’”:
	 
	 	 	 	     Landlord and Tenant agree that 95% of “Fair Market Rent” shall be: (i) for the
first Extended Term, determined in the manner as set forth in this Article 2, and
(ii) for the second Extended Term, no less than the Monthly Rent and Parking Fee, as
applicable, for the 12-month period ending on the last day of the first Extended
Term.
	 
	 	(l)	 	Article 14 of the Lease is hereby amended to add the following as the new
second, third and fourth paragraphs of Article 14:
	 
	 	 	 	     At least 3 months prior to the surrender of the Premises, Tenant shall deliver
to Landlord a narrative description of the actions proposed (or required by any
governmental authority) to be taken by Tenant in order to surrender the Premises at
the expiration or earlier termination of the Term, free from any Hazardous Materials
as required under Article 27B of this Lease (the “Surrender Plan”). Such Surrender
Plan shall be accompanied by a current listing of (i) all Hazardous Materials
licenses and permits held by or on behalf of Tenant or any of Tenant’s agents,
employees, invitees and contractors with respect to the Premises, and (ii) all
Hazardous Materials used, stored, handled, treated, generated, released or disposed
of from the Premises, and shall be subject to the review and approval of Landlord’s
environmental consultant. In connection with the review and approval of the
Surrender Plan, upon the request of Landlord, Tenant shall deliver to Landlord such
additional non-proprietary information concerning Tenant’s use of Hazardous
Materials as Landlord shall reasonably request.
	 
	 	 	 	     On or before such surrender, Tenant shall deliver to Landlord evidence that the
approved Surrender Plan shall have been satisfactorily completed and Landlord shall
have the right to cause Landlord’s environmental consultant to inspect the Premises
and perform such additional procedures as may be deemed reasonably necessary to
confirm that the Premises are, as of the effective date of such surrender or early
termination of the Lease, free from any Hazardous Materials as required under
Article 27B of this Lease. Landlord shall have the right to deliver such Surrender
Plan and any report by Landlord’s environmental
consultant with respect to the surrender of the Premises to third parties. If
Tenant shall fail to prepare or submit a Surrender

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	 	 	 	Plan approved by Landlord, or if
Tenant shall fail to complete the approved Surrender Plan, or if such Surrender
Plan, whether or not approved by Landlord, shall fail to adequately address any
Hazardous Materials in the Premises, Landlord shall have the right to take such
actions as Landlord may deem reasonable or appropriate to assure that the Premises
are surrendered free from any Hazardous Materials, the cost of which actions shall
be reimbursed by Tenant as Additional Rent.
	 
	 	(m)	 	The following shall be added as a new Article 32 of the Lease:

Article 32.

Expansion to First Floor

     (a) Right of First Offer. The approximately 34,521 rentable square feet
located on the first floor of the Building and portions of Levels P-1 and P-2 of the
Building and shown on Exhibit B attached hereto and made a part hereof
(collectively, the “ROFO Space”) is currently leased to Archemix under a Lease
between Landlord and Archemix dated April 11, 2005, as amended by a First Amendment
to Lease dated July 9, 2006 and a Second Amendment to Lease dated October 31, 2007
(as amended, the “Archemix Lease”). In the event that: (i) Archemix notifies
Landlord of its exercise of its right to terminate the Archemix Lease on or before
the deadline for such notice as set forth in the Archemix Lease, (ii) Landlord
terminates the Archemix Lease for any reason, or (iii) Archemix vacates the ROFO
Space for any reason, then Landlord shall notify Tenant of the availability of the
ROFO Space (the “Expansion Notice”), and subject to the terms and conditions of this
Article 32, Tenant shall have the right of first offer to lease the ROFO Space for
the balance of the Term of this Lease after Archemix has vacated the ROFO Space at a
rental rate for such ROFO Space equal to the “Rate Per Square Foot” for the Premises
as set forth in Article 1K of this Lease for the applicable time periods as set
forth in Article 1K and otherwise on the same terms and conditions as this Lease
(the “Right of First Offer”); provided, however, that if as of the
date that the ROFO Space is available as specified in Landlord’s notice fewer than
18 months remain in the Term of this Lease, then as a condition to the exercise of
the Right of First Offer Tenant shall be required to exercise its right to extend
the Term of this Lease for an additional 5-year period as set forth in Article 2 of
this Lease. Tenant shall have 15 business days following delivery of the Expansion
Notice to deliver to Landlord written notification of Tenant’s exercise of the Right
of First Offer. If Tenant fails to deliver notice accepting the terms of the
Expansion Notice within such 15-business-day period, Tenant shall be deemed to have
waived its right to lease such ROFO Space.

     (b) Lease Amendment. After Tenant delivers notice accepting the terms of the
Expansion Notice within such 15-day period, the parties shall enter into an
amendment to this Lease within 60 days from the date of the Expansion Notice;
provided that Landlord tenders to Tenant an amendment to this Lease

6

 

setting forth the terms for the rental of the ROFO Space consistent with those set forth in the
Expansion Notice and otherwise consistent with this Lease. If such amendment is not
so executed within such 60-day period, Tenant shall be deemed to have waived its
right to lease such ROFO Space.

     (c) Exceptions. Notwithstanding the provisions of this Article 32, Landlord
may elect not to lease the ROFO Space to Tenant, and in such event Tenant shall not
be entitled to lease the ROFO Space:

i. during any period of time that Tenant is in “Material Default” (as
defined below in Article 32(d)) under the Lease beyond applicable
cure periods; or

ii. if Tenant has been in default (whether or not in Material
Default) under any provision of the Lease 3 or more times, whether or
not any such defaults are cured, during the 12 month period prior to
the date of Landlord’s Expansion Notice.

     (d) Termination. The Right of First Offer shall terminate and be of no further
force or effect at the election of Landlord, even after Tenant’s due and timely
exercise of the Right of First Offer, if, after such exercise, but prior to the
commencement date of the lease with respect to the ROFO Space, (i) Tenant fails to
cure any Material Default by Tenant under the Lease within the applicable time
period set forth in the Lease for said cure; or (ii) three or more defaults (whether
or not Material Defaults) by Tenant have occurred under the Lease during the period
from the date of the exercise of the Right of First Offer to the date of the
commencement of the lease of the ROFO Space, whether or not such defaults are cured.
For purposes of this Article 32, a “Material Default” shall be any of the
occurrences listed in Article 19A(a) through (g) or Article 19A(i) of the Lease or a
breach of any of Tenant’s obligations under Article 27 of the Lease.

     (e) Rights Personal. The Right of First Offer is personal to Tenant and may be
assigned only in connection with an assignment or sublease described in Article 16B
of this Lease or an assignment or sublease for which Landlord gives its consent
pursuant to Article 16 of the Lease.

     (f) No Extension of Time. The period of time within which any Right of First
Offer may be exercised shall not be extended or enlarged by reason of Tenant’s
inability to exercise the Right of First Offer.

     4. Condition of Additional Premises. Tenant acknowledges and agrees that no promise
of Landlord to alter, remodel, repair or improve the Additional Premises and no representation,
either expressed or implied, respecting any matter or thing relating to the Additional Premises
(including the condition of the Additional Premises) has been made by Landlord to Tenant. The
Additional Premises shall be delivered by Landlord and accepted by Tenant in “as is” condition.
Tenant acknowledges and agrees that prior to the date of this

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Second Amendment it has been in
occupancy of the Additional Premises pursuant to the Sublease and as such is familiar with the
condition of the Additional Premises. The taking of possession of the Premises by Tenant pursuant
to this Second Amendment shall conclusively establish that the Additional Premises were at such
time in satisfactory condition, subject to Landlord’s continuing obligations to provide services
pursuant to the terms of the Lease.

     5. Work to be Performed by Tenant. Tenant shall perform, at its sole cost and
expense, the Tenant Improvements to the Additional Premises and such other premises as described
below in accordance with the terms and provisions contained in Exhibit C hereto and shall reimburse
Archemix as described in Section 5(iii) below. Such Tenant Improvements shall include, in
addition to any other work described on the plans submitted for Landlord approval pursuant to
Exhibit C, the following Tenant Improvements necessary to demise the Additional Premises to Tenant
(the “Demising Work”), which Demising Work shall be completed by Tenant on or before the date that
Tenant occupies the Additional Premises for the conduct of its business pursuant to this Second
Amendment, or such earlier date as may be set forth below:

(i) Reconfiguration of the acid waste neutralization system such that effluents of
Tenant and other parties shall not be mixed, including disconnection of the acid
waste neutralization system currently serving the Second Floor Premises and
connection of the Second Floor Premises to the existing acid waste neutralization
system currently serving Tenant’s existing Premises on the third and fourth floors;

(ii) Removal of the transmitting spiral staircase that serves only the first and
second floors of the Building, including without limitation restoration of the floor
of the Second Floor Premises and ceiling of the premises located on the first floor
of the Building to their respective conditions prior to the installation of such
transmitting staircase and with finishes to match the finishes of the respective
existing improvements in the Second Floor Premises and the premises located on the
first floor of the Building. Tenant shall execute such agreements as may reasonably
be required by Archemix prior to commencement of work on the removal of such
staircase, a copy of which agreements shall be provided to Landlord;

(iii) Re-feeding of the electrical feeds from the two electrical panels currently in
the Second Floor Premises (the “Second Floor Electrical Feeds”) so that they are
connected to Tenant’s electrical system currently serving the third and fourth floor
and to Tenant’s generator. Tenant shall reimburse Archemix upon demand for the
costs incurred by Archemix to remove the Second Floor Electrical Feeds so that the
Second Floor Premises are disconnected from the UPS and stand-by generator
maintained by Archemix.

(iv) Re-assignment of the existing separate utility meters so that the Second Floor
Premises meters will be assigned to Tenant effective July 1, 2009, and installation
of a 480-120/208 75kva transformer and related electrical work; and

8

 

(v) Installation of a new HVAC make-up air system to segregate Tenant’s make-up air
from the Archemix air system in the 507 SF Chemical Storage Room.

     6. Conditions. This Second Amendment shall be subject to the conditions precedent
that as of June 30, 2009, (i) Tenant and Archemix shall have actually entered into an agreement
that terminates the Sublease prior to the Additional Premises Commencement Date, and (ii) Landlord
and Archemix shall have actually entered into an amendment of the Archemix Lease that, among other
things, terminates the Archemix Lease prior to the Additional Premises Commencement Date, which
amendment shall be satisfactory to Landlord in its sole discretion. Landlord may, in its sole
discretion, extend the June 30, 2009 date but shall not be under any obligation to do so.

     7. Ratification of Lease; Effect of Second Amendment. The Lease, as amended by this
Second Amendment, is hereby ratified and confirmed, and each and every provision, covenant,
condition, obligation, right and power contained in and under, or existing in connection with, the
Lease, as amended by this Second Amendment, shall continue in full force and effect from and after
the date hereof and throughout the Term. This Second Amendment is not intended to, and shall not
be construed to, effect a novation, and, except as expressly provided in this Second Amendment, the
Lease has not been modified, amended, canceled, terminated, surrendered, superseded or otherwise
rendered of no force and effect. Tenant acknowledges and agrees that the Lease, as amended by this
Second Amendment, is enforceable against Tenant in accordance with its terms. The Lease and this
Second Amendment shall be construed together as a single instrument. This Second Amendment is the
entire agreement between the parties with respect to the subject matter hereof and supersedes all
prior and contemporaneous oral and written agreements and discussions. This Second Amendment may
be amended only by an agreement in writing signed by the parties hereto.

     8. No Defaults, Counterclaims or Rights of Offset; Release of Landlord. Tenant hereby
warrants and represents that, to its knowledge, as of the date of the execution of this Second
Amendment by Tenant, there are no defaults under the Lease in respect of Landlord’s performance
thereunder and there exist no defenses, counterclaims or rights of offset with respect thereto.
Tenant, for itself, its officers, directors, members, shareholders and their respective legal
representatives, successors and assigns, does hereby absolutely and irrevocably waive, remise,
release and forever discharge Landlord, its successors, assigns, partners, employees, affiliates,
attorneys and agents, of and from any and all manner of action and actions, cause and causes of
actions, suits, debts, dues, sums of money, accounts, reckoning, bonds, bills, specialties,
covenants, contracts, controversies, agreements, promises, variances, trespasses, damages,
judgments, extents,
executions, claims and demands whatsoever, in law or in equity, for items or matters that
Tenant could have been aware of or known about, through and including the date of execution and
delivery of this Second Amendment in connection with or relating to the Lease or the transactions
contemplated hereby. Nothing contained in this paragraph shall be construed to release Tenant from
its obligations under the Lease throughout the Term of the Lease (including the Extended Term, if
any).

9

 

     9. Brokers. Landlord and Tenant represent and warrant to each other that neither has
dealt with any broker, finder or agent in procuring this Second Amendment except for Richards Barry
Joyce & Partners (the “Broker”). Tenant and Landlord represent and warrant to each other that
(except with respect to the Meredith & Grew, with whom Palm, Inc. previously entered into a
separate brokerage agreement and Landlord shall have no liability or obligation to Broker
whatsoever in connection therewith) no broker, agent, commission salesperson, or other person has
represented it in the negotiations for and procurement of this Second Amendment and of the
Additional Premises and that no commissions, fees, or compensation of any kind are due and payable
in connection herewith to any broker, agent, commission salesperson, or other person. Tenant and
Landlord agree to indemnify and hold harmless each other, its agents, members, partners,
representatives, officers, affiliates, shareholders, employees, successors and assigns from and
against any and all loss, liabilities, claims, suits, or judgments (including, without limitation,
reasonable attorneys’ fees and court costs incurred in connection with any such claims, suits, or
judgments, or in connection with the enforcement of this indemnity) for any fees, commissions, or
compensation of any kind which arise out of or are in any way connected with any claimed agency
relationship not referenced in this paragraph.

     10. Successors and Assigns. This Second Amendment shall bind and inure to the benefit
of the parties hereto and their respective permitted successors and assigns.

     11. Counterparts. This Second Amendment may be executed in a number of identical
counterparts, each of which for all purposes shall be deemed to be an original, and all of which
shall collectively constitute but one agreement, fully binding upon, and enforceable against the
parties hereto.

REMAINDER OF PAGE INTENTIONALLY LEFT BLANK;

SIGNATURES APPEAR THE FOLLOWING PAGE

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     IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment as of the day and
year first written above.

	 	 	 	 	 
	 	TENANT:

ALNYLAM PHARMACEUTICALS, INC.

 	 
	 	By:  	/s/ Patricia L. Allen
 	 
	 	 	Name:  	Patricia L. Allen 	 
	 	 	Title:  	VP, Finance & Treasurer 	 
	 
	 	LANDLORD:

ARE-MA REGION NO. 28, LLC,

a Delaware limited liability company

 	 
	 	By:  	Alexandria Real Estate Equities, L.P.,
 	 
	 	 	a Delaware limited liability company, its member 	 

	 	 	 	 	 
	 	 	 
	 	By:  	ARE-QRS Corp., a Maryland corporation,
 	 
	 	 	its general partner 	 
	 
	 	 	 
	 	By:  	               /s/ Jackie Clem
 	 
	 	 	Name:  	Jackie Clem 	 
	 	 	Title:  	VP — RE Legal Affairs 	 
	 

11

 

EXHIBIT A

Drawings Showing Second Floor Premises and

507 SF Chemical Storage Room

 

 

EXHIBIT A

Drawings Showing Second Floor Premises and

507 SF Chemical Storage Room

 

 

EXHIBIT B

Drawings Showing ROFO Space (3 pages)

 

 

 

 

 

 

EXHIBIT C

Tenant’s Work

     1. (a) Tenant shall, on or before the date that is 7 business days after the date hereof, at
Tenant’s expense, submit to Landlord final and complete dimensioned and detailed plans and drawings
for the Demising Work and any partition layouts (including openings), ceiling and lighting layouts,
colors, mechanical and electrical circuitry plans and any and all other information as may be
reasonably necessary to complete the construction of improvements that Tenant desires to make to
the Second Floor Premises and/or 507 SF Chemical Storage Room in accordance with this Exhibit C
(such plans are collectively referred to herein as “Tenant’s Plans”). The partition
layout, and ceiling and lighting layout plans shall be 1’0” = 1/8” scale. Tenant shall submit
Tenant’s Plans and any other plans required by this Exhibit C to Landlord in form, quality and
quantity acceptable for the purposes of filing for a building permit with the Building Department
of the City, and such plans shall be signed and sealed by an architect licensed in the Commonwealth
of Massachusetts;

          (b) Landlord shall review Tenant’s Plans as soon as reasonably possible and designate by
notice to Tenant, within 3 business days for the Demising Work and 7 business days for other Tenant
improvements shown on Tenant’s Plans, the specific changes required to be made to Tenant’s Plans,
which Tenant shall make within three (3) business days of receipt. This procedure shall be
repeated until Tenant’s Plans are finally approved by Landlord.

          (c) Any architect or designer acting for or on behalf of Tenant shall be deemed an agent of
and authorized to bind Tenant in all respects.

          (d) All plans, drawings and specifications with respect to the Additional Premises and/or the
Demising Work required to be submitted by Tenant to Landlord shall comply with and conform to the
Building plans filed with the Department of Buildings, Building standard specifications (the
receipt of which Tenant hereby acknowledges) and with all the rules, regulations and/or other
requirements of any governmental department having jurisdiction over the construction of the
Building and/or Additional Premises. Tenant shall prepare drawings in accordance with pre-existing
conditions and field measurements.

          (e) Landlord’s review of Tenant’s Plans is solely to protect the interests of Landlord in the
Building and the Additional Premises, and Landlord shall be neither the guarantor of, nor
responsible for, the correctness or accuracy of Tenant’s Plans, or the compliance of Tenant’s Plans
with applicable requirements of any governmental authority. Landlord’s review and approval of any
submissions shall not be deemed to be an approval of the adequacy for any particular purpose or
system capacity or the cost of the Tenant Improvements.

          (f) Tenant shall reimburse Landlord for the reasonable, actual out-of-pocket costs incurred by
Landlord to third parties for the review of all submissions submitted pursuant to this Exhibit C.

     2. (a) Tenant shall, at its sole cost and expense, in accordance with the terms and conditions
of this Exhibit C, be responsible for the construction of the Demising Work and all improvements
and alterations necessary to prepare the Additional Premises to conform with Tenant’s Plans
(collectively, the “Tenant Improvements”). After completion of Tenant’s Plans,

 

 

Tenant shall submit Tenant’s Plans to the appropriate governmental body for plan checking and a
building permit. Tenant shall deliver a copy of the building permit to Landlord prior to the
commencement of construction of the Tenant Improvements. Tenant shall not make any changes to
Tenant’s Plans once finally approved by Landlord without Landlord’s consent.

          (b) Tenant has selected The Richmond Group as the contractor for the Tenant Improvements (the
“Contractor”). A price for a construction contract based on Tenant’s Plans shall be
mutually agreed upon by Tenant and the Contractor. Tenant shall enter into an agreement with the
Contractor to build the Tenant Improvements, at Tenant’s sole cost and expense.

          Tenant shall deliver, or cause to be delivered, to Landlord a certificate of occupancy or
certificate of completion, in form and substance reasonably satisfactory to Landlord, with respect
to the Demising Work and the Additional Premises together with final and unconditional waivers of
mechanic’s liens concerning the work for all labor and services performed and all material
furnished in connection with the work, signed by the Contractor and all subcontractors, suppliers,
and laborers involved in the work. Notwithstanding anything contained herein or in the Lease to
the contrary, Landlord shall have no obligation to disburse any allowance or fund any portion of
the Demising Work or other Tenant Improvements.

          (c) In the event that Tenant requests any changes to Tenant’s Plans, Landlord shall not
unreasonably withhold its consent to any such changes, provided the changes do not adversely affect
the Building’s structure, systems, equipment or appearance. All reasonable, actual out-of-pocket
costs and expenses associated with any such changes and paid by Landlord to third parties,
including without limitation reimbursement to Landlord for its reasonable, actual out-of-pocket
costs for the review of such changes, shall be borne exclusively by Tenant.

     3. (a) Before beginning the Demising Work or any other Tenant Improvements, Tenant shall pay
for and deliver to Landlord policies and certificates of insurance in amounts and with such
companies as shall be reasonably satisfactory to Landlord, such as, but not limited to Public
Liability, Property Damage and Workmen’s Compensation, to protect Landlord and Tenant during the
period of performing the Tenant Improvements. Landlord and the Contractor shall be named as
insured parties in such policies or certificates of insurance and the same shall remain in effect
during the period of the performance of the Tenant Improvements.

          (b) All of the Demising Work and other Tenant Improvements shall be in accordance with the
rules and regulations of any governmental department or bureau having jurisdiction thereover and
shall not conflict with, or be in violation or cause any violation of, Landlord’s basic Building
plans and/or the construction of the Building, and all the Tenant Improvements shall be completed
free of all liens and encumbrances. All permits which may be required by Tenant for the Demising
Work and Tenant Improvements shall be procured and paid for by Tenant or, if Landlord shall deem
the same advisable, Landlord may procure such permits and Tenant shall pay for the same. No plans
and/or specifications required to be filed by Tenant pursuant to any Demising Work or work
contemplated to be performed by it within the Additional Premises shall be filed or submitted to
any governmental authority having jurisdiction thereover without first having obtained Landlord’s
approval of same.

          (c) Upon completion of the Demising Work and other Tenant Improvements, Tenant will remove all
debris and excess materials from the Building, the

C-2

 

Additional Premises and any other premises in which such debris or excess materials may have
been placed.

          (d) The labor employed by Tenant or the Contractor shall always be harmonious and compatible
with the labor employed by Landlord or any contractors or sub-contractors of Landlord. Should such
labor be incompatible with such Landlord’s labor as shall be determined by the sole judgment of
Landlord, to be exercised in good faith, Landlord may require Tenant to withdraw from the
Additional Premises until the completion of work by Landlord.

          (e) In the event Tenant or the Contractor shall enter upon the Additional Premises or any
other part of the Building not leased to Tenant under the Lease, as may be permitted by Landlord,
Tenant shall indemnify and save Landlord free and harmless from and against any and all claims
arising from or out of any entry thereon or the performance of the Demising Work and/or other
Tenant Improvements and from and against any and all claims arising from or claimed to arise from
any act or neglect of Tenant or Tenant’s representatives or from any failure to act, or for any
other reason whatsoever arising out of said entry or such work.

          (f) Tenant Improvements which Landlord reasonably determines are specialized to Tenant’s use
and occupancy of the Additional Premises including, without limitation, wiring and cabling shall,
at the election of Landlord, either (1) be removed by Tenant at its expense before the expiration
or earlier termination of the term of the Lease or (2) remain upon the Additional Premises and be
surrendered therewith without disturbance, molestation or injury upon the expiration or earlier
termination of the Lease. If Landlord requires the removal of all or part of the specialized
Tenant Improvements, Tenant, at its expense, shall repair any damage to the Additional Premises or
the Building caused by such removal. If Tenant fails to remove any specialized Tenant Improvements
upon Landlord’s request, then Landlord may (but shall not be obligated to) remove the same and the
cost of such removal and repair of any damage caused by the same, together with any and all damages
which Landlord may suffer and sustain by reason of the failure of Tenant to remove the same, shall
be charged to Tenant and paid upon demand.

          4. Tenant accepts the Additional Premises in its “as is” condition and acknowledges that it
has had an opportunity to inspect the Additional Premises.

          5. Tenant hereby authorizes John Palmieri as Tenant’s representative to act on its behalf and
represent its interests with respect to all matters which pertain to the construction of the
Demising Work and other Tenant Improvements, and to make decisions binding upon Tenant with respect
to such matters. Landlord hereby authorizes Joe Maguire and Jeff McComish, each acting
individually, to be Landlord’s representative in connection with construction of the Demising Work
and other Tenant Improvements. Tenant hereby expressly recognizes and agrees that no other person
claiming to act on behalf of the Landlord is authorized to do so, and any costs, expenses
liabilities or obligations incurred or paid by Tenant in reliance on the discretion of any such
other person shall be Tenant’s sole responsibility.

          6. In the event of a conflict between the terms and provisions of the Lease and the terms and
provisions of this Exhibit C, the terms and provisions of this Exhibit C shall control.

C-3

 

CONSENT OF GUARANTOR

     The undersigned, Palm, Inc., formerly known as PalmOne, Inc., a Delaware corporation with an
address of 400 North McCarthy Boulevard, Milpitas, CA 95035, the Guarantor under that certain
Guaranty made on September 26, 2003 (the “Guaranty”) with respect to that certain Lease dated as of
September 26, 2003, as amended by a First Amendment to Lease dated March 16, 2006 (as so amended,
the “Lease”) between Landlord (as successor to Three Hundred Third Street LLC), and Tenant (as
successor to Alnylam U.S., Inc., a Delaware corporation that is a subsidiary of Tenant and was
formerly known as Alnylam Pharmaceuticals, Inc. (the “Original Tenant”), pursuant to an Assignment
of Lease dated February 28, 2006 between Original Tenant and Tenant), hereby consents to the within
Second Amendment to Lease to which this Consent of Guarantor is attached. The undersigned
acknowledges that the term “Lease” as used in the Guaranty shall refer to the Lease as defined
above and as amended by the within Second Amendment to Lease, provided, however, that Guarantor’s
liabilities and obligations pursuant to the Guaranty shall remain limited pursuant to the Third
Amendment (as defined in the Guaranty) as such Third Amendment is affected by the Fourth Amendment
to Lease dated April 11, 2005 between Three Hundred Third Street LLC as landlord and PalmOne, Inc
as tenant and the Fifth Amendment to Lease dated March 16, 2006 between Landlord and Guarantor.

     This Consent of Guarantor is given as of the 30 day of June, 2009.

	 	 	 	 	 
	 	Palm, Inc.,

a Delaware corporation

 	 
	 	By:  	/s/ Doug Jeffries
 	 
	 	 	Name:  	Doug Jeffries 	 
	 	 	Title:  	SVP & CFOExhibit 10.2

Exhibit 10.2

W. P. CAREY & CO. LLC

SHARE OPTION AGREEMENT

W. P. CAREY & CO. LLC, a Delaware limited liability company (the “Company”), and
                    , an employee of the Company (the “Optionee”), in consideration of
the mutual promises contained in this Agreement and intending to be legally bound hereby, agree as
follows:

1. Grant of Option. (a) The Company hereby confirms the grant to the Optionee as of
                    ,
 _____ 

(the “Grant Date”) of an option (the “Option”) to purchase up to                     
Shares of the Company at an option price of $                     per Share, under and subject to the terms
and conditions of this Agreement and the W. P. Carey & Co. LLC 2009 Share Incentive Plan (the
“Plan”), which is hereby incorporated by reference and made a part of this Agreement.

(b) Subject to earlier termination as provided in the Plan or in this Agreement, the Option is
exercisable in whole or in part (in whole shares only) under the following schedule:

[On and after                     ,
 _____ 

as to one-third of the shares subject
to the Option;

On and after                     ,
 _____ 

as to an additional one-third of the
shares subject to the Option; and

On and after                     ,
 _____ 

as to the final one-third of the shares
subject to the Option.]

For purposes of the foregoing schedule, any fractional share for any year shall be rounded down to
the next whole share, except for the last year set forth above which shall include the balance of
Option Shares. In no event may this Option be exercised after the close of business on
                    ,
 _____.

2. Acceptance of Option and Acknowledgments. The Optionee hereby (a) accepts the
Option granted under the Plan, (b) acknowledges that he has received, read and understood the Plan
and (c) agrees to be bound by the terms and provisions of the Plan, as amended from time to time;
provided, however, that no termination, modification or amendment of the Plan shall, without the
consent of the Optionee, adversely affect the rights of the Optionee with respect to the Option
(except as expressly permitted by the Plan or as may be necessary to comply with applicable law).

 

 

 

3. Procedure for Exercise of Option. (a) The Option may be exercised only by delivery
by the Optionee of written, electronic or telephonic notice to the Company or its agent in the form
prescribed. Each exercise form must set forth the number of Shares as to which the
Option is exercised, must be dated and signed, or its equivalent, by the person exercising the
Option and must be accompanied by (i) a cash payment (which may be made by means of a check, bank
draft or money order) in United States dollars, [(ii) shares of already-owned Shares or shares
withheld from the exercise of the Option at the fair market value of such shares on the date of
exercise,] (iii) the optionee delivering to the Company a properly executed exercise notice
together with irrevocable instructions to a broker to promptly deliver to the Company cash or a
check payable and acceptable to the Company to pay the purchase price; provided that in the
event the optionee chooses to pay the purchase price as so provided, the optionee and the broker
shall comply with such procedures and enter into such agreements of indemnity and other agreements
as the Committee shall prescribe as a condition of such payment procedure, or [(iv) any combination
of cash and such shares, in the amount of the full purchase price for the number of Shares as to
which the Option is exercised; provided, however, that any portion of the option
price representing a fraction of a share shall be paid by the Optionee in cash.]

(b) The Optionee may choose to exercise an Option by participating in a broker or other
agent-sponsored exercise or financing program. If the Optionee so chooses, the Company shall, upon
receipt of the required payment, deliver the Shares acquired pursuant to the exercise of the Option
to the broker or other agent, as designated by the Optionee, and shall cooperate with all other
reasonable procedures of the broker or other agent to permit participation by the Optionee in the
sponsored exercise or financing program.

(c) [The Company shall advise any person exercising the Option in whole or in part with
already-owned or withheld Shares as to the amount of any additional cash payment required to be
made to the Company to complete payment of the applicable option price, and such person shall be
required to make such payment to the Company before any distribution of certificates representing
Shares will be made.]

(d) If a person other than the Optionee exercises the Option, such person shall submit proof
satisfactory to the Company of the right of such person to exercise the Option.

(e) The date of exercise is the date on which the required notice, proof of right to exercise
(if required) and payment of the option price in cash [or already-owned Shares] are delivered to
the Company or its agent. [For purposes of determining the date of exercise where payment of the
option price is made in already-owned or withheld Shares, any cash required to be paid to the
Company with respect to a fraction of a share shall not be taken into account in determining
whether payment of the option price has been made.]

4. Rights Upon Death or Disability. Upon the Optionee’s death or disability, the
Optionee’s rights with respect to the Option shall be determined in accordance with Section 5 of
the Plan.

5. Rights Upon Termination of Employment. Unexercised Options granted hereunder,
whether vested or unvested, will be forfeited by Optionee upon termination of Optionee’s employment
for any reason other than death or disability. Notwithstanding the foregoing, the Optionee will
have 30 days from the date of termination to exercise options vested
as of the date of termination except in the case of a termination for Cause (unless the
Committee, in its sole discretion, determines otherwise in the case of a termination for Cause).

 

 

 

6. Delivery or Recordation of Certificates. Subject to Section 3 of this Agreement,
the Company shall deliver or record in book-entry or electronic form a certificate or certificates
representing the number of Shares to which the person exercising the Option is entitled as soon as
practicable after the date of exercise. Unless the person exercising the Option otherwise directs
the Company in writing, the certificate or certificates shall be registered in the name of the
person exercising the Option and delivered to such person. [If the Option is exercised and the
option price is paid in whole or in part with already-owned Shares, the Company will deliver or
record at the same time and return to the person exercising the Option a certificate representing
the number of any shares included in any certificate or certificates delivered to the Company at
the time of exercise which were not used to pay the option price.]

7. Withholding of Taxes. (a) The Company shall advise the Optionee as to the amount
of any income, employment or other taxes required to be withheld by the Company on any compensation
income resulting from the exercise of the Option. The Optionee shall pay such required withholding
directly to the Company in cash upon request or may elect to have such tax withholding obligation
satisfied through withholding shares to be issued pursuant to the Option [or transferring
already-owned shares].

(b) If the Optionee does not pay the required withholding to the Company as provided in
paragraph (a) within ten days after such request is made, the Company may withhold such taxes from
any other compensation to which the Optionee is entitled from the Company. The Optionee shall hold
harmless the Company (and any of its officers and employees) in so satisfying the Company’s
withholding obligation. No shares shall be issued under this Agreement until such withholding
obligation has been satisfied by the Optionee.

8. Further Conditions of Exercise. The obligation of the Company to deliver shares on
exercise of the Option shall be subject to the effectiveness of a Registration Statement under the
Securities Act of 1933, as amended, with respect to such shares, if deemed necessary or appropriate
by the Committee. If, at the time of exercise of the Option, no such Registration Statement is in
effect, the shares delivered on exercise of the Option may be made subject to such transfer
restrictions (including the placing of an appropriate legend on the certificates restricting the
transfer of the stock) as the Committee may deem necessary or appropriate to comply with applicable
securities laws. If such Registration Statement is not in effect prior to the exercise of the
Option under this Agreement, the notice of exercise shall be accompanied by a representation or
agreement of the person exercising the Option to the Company to the effect that such shares are
being acquired for investment and not with a view to the resale or distribution of the shares, and
such further documentation as may be required by the Company, unless the Company determines in its
sole discretion that such representation, agreement or documentation is not necessary to comply
with the Securities Act of 1933, as amended.

9. Shareholder Rights. The Optionee shall have no rights as a shareholder with
respect to any shares subject to this Option until a certificate for the shares is issued to or
recorded for the benefit of the Optionee. Except as otherwise provided in the Plan and
Section 10 below, no adjustment shall be made for dividends or other rights for which the
record date precedes the date of issuance of such certificate.

 

 

 

10. Capital Adjustments. The number of Shares subject to this Option, and the option
price for the Shares, shall be subject to adjustment as provided in the Plan to reflect any share
dividend, share split, share combination, share exchange, recapitalization, merger, consolidation,
reorganization, or like event, of or by the Company.

11. Change of Control. Notwithstanding the provisions of Section 1 of this Agreement,
the Option shall automatically become fully exercisable upon the occurrence of a Change of Control
as defined in Section 13 of the Plan.

12. Administration. The Committee shall have full discretion to interpret and
administer this Agreement and to delegate all or any part of its duties and responsibilities. The
interpretation of this Agreement by the Committee or its delegate, and any action taken by them,
shall be binding and conclusive upon all parties having or claiming any interest under this
Agreement. No member of the Committee and no employee of the Company shall, in any event, be
liable to any person for any action taken or omitted to be taken in connection with this Agreement
or the Plan, so long as such action or omission to act was in good faith.

13. Notice. Any notice, consent, election or demand required or permitted to be given
under the provisions of this Agreement or the Plan shall be in writing, and shall be signed by the
party giving or making the same. If such notice, consent, election or demand is to be mailed, it
shall be sent by United States certified mail, postage prepaid, addressed to such party’s last
known address. The date of such mailing shall be deemed the date of notice, consent, election or
demand.

14. Effect of Agreement on Rights of Company and Optionee. This Agreement does not
confer any right on the Optionee to continue in the employ of the Company, any Subsidiary or
Affiliate or interfere in any way with the rights of the Company, any Subsidiary or Affiliate to
terminate the employment of the Optionee.

15. Option Not Transferable. The rights of the Optionee under this Agreement are not
subject to the claims of his or her creditors and may not (except as may otherwise be permitted by
the Plan) be voluntarily or involuntarily transferred, assigned, alienated, accelerated or
encumbered; provided, however, that the Option may, to the extent permitted under
the Plan, be transferred by will or by the laws of descent and distribution upon the death of the
Optionee. During the lifetime of the Optionee, this Option may (except as may otherwise be
permitted by the Plan) only be exercised by the Optionee.

16. Severability. If any portion of this Agreement shall be held invalid or illegal
for any reason, such event shall not affect or render invalid or unenforceable the remainder of
this Agreement.

17. Binding Effect. This Agreement shall be binding upon and inure to the benefit of
the successors and assigns of the Company and upon the legal representatives, heirs and legatees of
the Optionee.

 

 

 

18. Entire Agreement. This Agreement constitutes the entire agreement between the
Company and the Optionee and supersedes all prior agreements and understandings, oral or written,
between the Company and the Optionee with respect to the subject matter of this Agreement.

19. Amendment. This Agreement, including the Plan, which is incorporated herein by
reference, may (except as provided in the Plan) only be amended, altered or modified by a written
instrument signed by the parties hereto, or their respective successors, and it may not be
terminated (except as provided herein or in the Plan).

20. Construction. Capitalized terms shall have the same meaning as is given those
terms in the Plan unless the context otherwise requires. If there is any conflict between the Plan
and this Agreement, the provisions of the Plan shall control. The section headings contained in
this Agreement are for reference only and shall have no effect on the interpretation of any of the
provisions of this Agreement.

21. Governing Law. This Agreement shall be governed by, and construed and enforced in
accordance with, the laws of the State of New York, to the extent applicable, without regard to
conflicts of laws principles.

IN WITNESS WHEREOF, the Company and the Optionee have executed this Agreement effective as of
the Grant Date.

	 	 	 	 	 	 	 
	 	 	W. P. CAREY & CO. LLC
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	OPTIONEE
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Name:

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