Document:

urov-ex101_6.htm

 

Exhibit 10.1

FIRST AMENDMENT TO LOAN AGREEMENT

This First Amendment to Loan Agreement, dated as of February 5, 2021 (this “Amendment”), is between Sumitomo Dainippon Pharma Co., Ltd., a company (Kabushiki Kaisha) incorporated under the laws of Japan (the “Lender”), and Urovant Sciences Ltd., an exempted company organized under the laws of Bermuda (the “Borrower” and, together with the Lender, the “Parties” and each, a “Party”).

PRELIMINARY STATEMENTS:

1.Reference is made to the Loan Agreement dated as of December 27, 2019 (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), between the Lender and the Borrower.

2.The Borrower has requested that the Lender amend the Loan Agreement to, among other things, increase the maximum aggregate outstanding principal amount of the Loans thereunder to $425,000,000, in all cases subject to the terms and conditions set forth in this Amendment.

3.Capitalized terms used in this Amendment and not otherwise defined have the meanings set forth for such terms in the Loan Agreement.

AGREEMENT:

In consideration of the foregoing and the mutual agreements contained in this Amendment, the receipt and sufficiency of which are acknowledged, the Parties hereby agree as follows:

1.Amendments to Loan Agreement.  Preliminary Statement B of the Loan Agreement is amended by deleting such statement in its entirety and replacing it as follows:

The Borrower has requested the Lender provide it with loans in the maximum principal amount not to exceed $425,000,000 (the “Lender Commitment”).  

2.Representations.  The Borrower makes the following representations to the Lender, which representations survive the execution and delivery of this Amendment:

	
 
	
(a)
	
The Borrower has all requisite power and authority and all material requisite governmental licenses, authorizations, consents and approvals to execute, deliver and perform its obligations under this Amendment;

	
 
	
(b)
	
the execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all necessary organizational action;

	
 
	
(c)
	
each of this Amendment and the Loan Agreement, as amended by this Amendment, constitutes a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws affecting creditors’ rights generally and by general principles of equity; 

	
 
	
(d)
	
this Amendment has been duly executed and delivered by the Borrower;

	
 
	
(e)
	
the representations of the Borrower in the Loan Agreement are true and correct in all material respects on and as of the date of this Amendment (or, in the case of any such 

 

 

	
 
		
representation expressly stated to have been made as of a specific date, as of such specific date); and

	
 
	
(f)
	
no Default has occurred and is continuing.

3.Effectiveness.  This Amendment is effective on and as of the date when the last of the following conditions precedent has been satisfied in a manner satisfactory to the Lender:

	
 
	
(a)
	
each Guarantor has executed the consent and reaffirmation attached to this Amendment;

	
 
	
(b)
	
all representations of the Borrower set forth herein are true and correct in all respects;

	
 
	
(c)
	
the Lender has received such customary certificates of resolutions or other action, incumbency and other certification of the officers of the Loan Parties as the Lender may require evidencing the identity, authority and capacity of each officer authorized to act in connection with this Amendment;

	
 
	
(d)
	
the Lender has received opinions of counsel to the Loan Parties covering such customary matters as are required by the Lender;

	
 
	
(e)
	
the Borrower has paid all fees, costs and expenses (including legal fees and expenses) required to be paid by it to the Lender in connection herewith to the extent due; and

	
 
	
(f)
	
the Lender has received such other documents as the Lender may request.

4.Reaffirmations.  The Borrower reaffirms its covenants set forth in the Loan Agreement and the other Loan Documents.  Except as specifically provided herein, all terms and conditions of the Loan Agreement remain in full force and effect, without waiver or modification.  This Amendment and the Loan Agreement are to be read together as one document.  From and after the date hereof, each reference in the Loan Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import, and each reference in the Loan Agreement or any other Loan Document to the Loan Agreement or to any term, condition or provision contained “thereunder,” “thereof,” “therein” or words of like import, means and are a reference to the Loan Agreement (or such term, condition or provision, as applicable) as amended, restated, supplemented or otherwise modified by this Amendment.

5.Successors and Assigns.  This Amendment is binding upon, and inures to the benefit of, the Parties and their respective successors and permitted assigns. The Borrower may not assign or transfer any of its interests or rights, or delegate its duties or obligations, under this Amendment, in whole or in part, without the Lender’s prior written consent.  

6.Expenses.  The Borrower affirms and acknowledges that Section 8.2(b) of the Loan Agreement applies to this Amendment and the transactions and agreements and documents contemplated under this Amendment.

7.Governing Law; Severability.  This Amendment is governed by, and construed in accordance with, the laws of the State of New York.  Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction is, as to such jurisdiction, ineffective to the extent of such invalidity, illegality or unenforceability without effecting the validity, legality and enforceability of the remaining provisions of this Amendment; and the invalidity of a particular provision in a particular jurisdiction does not invalidate such provision in any other jurisdiction

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8.Counterparts.  This Amendment may be executed in counterparts (and by different Parties in different counterparts), each of which constitutes an original, but all of which when taken together constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by electronic transmission is as effective as delivery of a manually executed counterpart of this Amendment.

(Signature Pages Follow)

 

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The Parties have executed and delivered this Amendment as of the date first above written.

 

 

UROVANT SCIENCES LTD.

 

By: /s/ James Robinson     

Name: James A. Robinson

Title: Principal Executive Officer

 

 

[Signature Page to First Amendment to Loan Agreement]

 

 

SUMITOMO DAINIPPON PHARMA CO., LTD.

 

By: /s/ Hiroshi Nomura

Name: Hiroshi Nomura

Title: Representative Director, President and CEO

 

 

 

 

 

[Signature Page to First Amendment to Loan Agreement]

 

 

GUARANTOR CONSENT AND REAFFIRMATION

 

Reference is made to (a) the Guaranty dated as of December 27, 2019 (the “Guaranty”), made by each of the undersigned in favor of Sumitomo Dainippon Pharma Co., Ltd., a company (Kabushiki Kaisha) incorporated under the laws of Japan (the “Lender”), and (b) the First Amendment to Loan Agreement, dated as of February 5, 2021 (the “Amendment”), between the Lender and Urovant Sciences Ltd., an exempted company organized under the laws of Bermuda.  Capitalized terms used herein and not otherwise defined have the meanings set forth for such terms in the Guaranty.

 

Each of the undersigned guarantors of the Guaranteed Obligations hereby (a) consents to the Amendment, (b) reaffirms its obligations under the Guaranty, (c) reaffirms its waivers of each and every one of the defenses to such obligations as set forth in the Guaranty and (d) reaffirms that its obligations under the Guaranty are separate and distinct from the obligations of any other party under the other Loan Documents.  

 

Dated:February 5, 2021

 

(Signature Pages Follow)

 

 

[Guarantor Consent and Reaffirmation]

 

 

Each Guarantor has executed and delivered this Guarantor Consent and Reaffirmation as of the date first above written.

 

 

UROVANT SCIENCES GMBH

 

By: /s/ Sascha Bucher

Name: Sascha Bucher

Title: Director

 

 

 

[Signature Page to Guarantor Consent and Reaffirmation]

 

 

UROVANT HOLDINGS LIMITED

 

By: /s/ Mark Craig

Name: Mark Craig

Title: Director

 

 

 

[Signature Page to Guarantor Consent and Reaffirmation]

 

 

UROVANT SCIENCES, INC.

 

By: /s/ James Robinson

Name: James A. Robinson

Title: Chief Executive Officer

 

 

 

[Signature Page to Guarantor Consent and Reaffirmation]

 

 

UROVANT TREASURY HOLDINGS, INC.

 

By: /s/ James Robinson

Name: James A. Robinson

Title: Chief Executive Officer

 

 

 

[Signature Page to Guarantor Consent and Reaffirmation]

 

 

UROVANT SCIENCES TREASURY, INC.

 

By: /s/ James Robinson

Name: James A. Robinson

Title: Chief Executive Officer

 

 

[Signature Page to Guarantor Consent and Reaffirmation]Exhibit 10.1

 

LEASE AGREEMENT

 

THIS LEASE AGREEMENT
(this “Lease”) is made this 8th day of February, 2021, between ARE-SAN FRANCISCO NO. 63, LLC,
a Delaware limited liability company (“Landlord”), and IOVANCE BIOTHERAPEUTICS, INC., a Delaware
corporation (“Tenant”).

 

	Building:	That certain to-be-constructed 6-story building to be known as 825 Industrial Road, San Carlos,
California

 

	Premises:	A portion of the Building consisting of the entire 4th floor and commonly known as Suite 400,
containing approximately 49,918 rentable square feet, as shown on Exhibit A.

 

	Project:	The real property on which the Building in which the Premises are located, together with all improvements
thereon and appurtenances thereto as described on Exhibit B.

 

	Base Rent:	$5.60 per rentable square foot of the Premises per month, subject to adjustment pursuant to Section 4 hereof.

 

Rentable
Area of Premises: 49,918 sq. ft.

 

Rentable
Area of Building: 282,190 sq. ft.

 

Rentable
Area of Project: 526,178 sq. ft.

 

Tenant’s
Share of Operating Expenses of Building: 17.69%

 

Building’s
Share of Project: 53.63% sq. ft.

 

Security
Deposit: $559,081.60

 

Rent
Adjustment Percentage: 3%

 

	Base Term:	Beginning on the Commencement Date and ending 120 months from the first day of the first full month following the Rent Commencement
Date. For clarity, if the Rent Commencement Date occurs on the first day of a month, the expiration of the Base Term shall be
measured from that date. If the Rent Commencement Date occurs on a day other than the first day of a month, the expiration of
the Base Term shall be measured from the first day of the following month.

 

	Permitted Use:	Research and development laboratory, related office and other related uses consistent with the character of the Project and otherwise
in compliance with the provisions of Section 7 hereof.

 

	Address for Rent Payment:	Landlord’s Notice Address:
	P.O Box 975383	26 North Euclid Avenue
	Dallas, TX 75397-5383	Pasadena, CA 91101
	 	Attention: Corporate Secretary

 

Tenant’s Notice Address:

825 Industrial Road, Suite 400

San Carlos, California 94070

Attention: Legal Department

 

    

    
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The following Exhibits and Addenda are
attached hereto and incorporated herein by this reference:

 

	[X] EXHIBIT A - PREMISES DESCRIPTION	[X] EXHIBIT B - DESCRIPTION OF PROJECT
	[X] EXHIBIT C - WORK LETTER	[X] EXHIBIT D - COMMENCEMENT DATE
	[X] EXHIBIT E - RULES AND REGULATIONS	[X] EXHIBIT F - TENANT’S PERSONAL PROPERTY
	[X] EXHIBIT G - SIGNAGE	 

 

1.            Lease
of Premises. Upon and subject to all of the terms and conditions hereof, Landlord hereby leases the Premises to Tenant and
Tenant hereby leases the Premises from Landlord. The portions of the Project which are for the non-exclusive use of tenants of
the Project are collectively referred to herein as the “Common Areas.” Landlord reserves the right to modify
Common Areas, provided that such modifications do not materially adversely affect Tenant’s access to or use of the Premises
for the Permitted Use or materially adversely affect Tenant’s parking rights under Section 10 (other than on
a temporary basis, subject to the terms of Section 10). From and after the Commencement Date through the expiration
of the Term, Tenant shall have access to the Building and the Premises 24 hours a day, 7 days a week, 365 days per year, except
in the case of emergencies, as the result of Legal Requirements, the performance by Landlord of any installation, maintenance or
repairs, or any other temporary interruptions, and otherwise subject to the terms of this Lease.

 

2.            Delivery;
Acceptance of Premises; Commencement Date. The “Commencement Date” shall be the date that is 1 business
day after the mutual execution and delivery of this Lease by the parties. Landlord shall deliver the Premises to Tenant (“Delivery”
or “Deliver”) on the Commencement Date for Tenant’s construction of the Tenant Improvements pursuant to
the work letter attached hereto as Exhibit C (the “Work Letter”) in Tenant Improvement Work Readiness
Condition. The “Rent Commencement Date” shall be the earlier to occur of (i) the date that is 12 months
after the Commencement Date, or (ii) the date that the Tenant Improvements are Substantially Completed; provided, however,
that the Rent Commencement Date shall be delayed 1 day for each day after the Commencement Date that (a) to the extent that,
after the Commencement Date, any Governmental Authority having jurisdiction of the Project, as a result of the COVID-19 outbreak
in the United States declares or implements any order or mandate that restricts construction activities in San Mateo County (any
such order or mandate, a “Government Mandate”), to the extent that such Government Mandate precludes the construction
of Tenant Improvements, or (b) a Landlord Delay occurs. As used herein, the terms “Tenant Improvements,”
 “Tenant Improvement Work Readiness Condition,” “Substantially Completed” and “Landlord
Delay” shall have the meanings set forth for such terms in the Work Letter. Upon request of Landlord, Tenant shall execute
and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when
such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D;
provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s
rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of
this Lease and the Extension Term which Tenant may elect pursuant to Section 39 hereof.

 

Except as set forth
in the Work Letter or as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition
as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s
taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good
condition at the time possession was taken. Any access to the Premises by Tenant before the Commencement Date, if any, shall be
subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses.

 

Tenant agrees and acknowledges
that, except as otherwise expressly provided in this Lease, neither Landlord nor any agent of Landlord has made any representation
or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises
or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project
are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject
matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations
which are not contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties,
acknowledgments and agreements contained herein.

 

    

    
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3.            Rent.

 

(a)          Base
Rent. Base Rent for the month in which Rent Commencement Date occurs (or, if the Rent Commencement Date does not occur on the
first day of a calendar month, Base Rent for the first full calendar month following the Rent Commencement Date) and the Security
Deposit shall be due and payable concurrently with Tenant’s delivery of an executed copy of this Lease to Landlord. Tenant
shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before
the first day of each calendar month during the Term hereof after the Rent Commencement Date, in lawful money of the United States
of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord
may from time to time designate in writing, or via federally insured wire transfer (including ACH) pursuant to the wire instructions
provided by Landlord. Payments of Base Rent for any fractional calendar month shall be prorated. The obligation of Tenant to pay
Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall
have no right at any time to abate, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for
any abatement as may be expressly provided in this Lease.

 

Notwithstanding anything
contained herein to the contrary, so long as Tenant is not then in default under this Lease (beyond any applicable notice or cure
periods), Base Rent shall be abated for the period commencing on the Rent Commencement Date through the date that is 210 days after
the Rent Commencement Date (the “Abatement Period”). Tenant shall commence paying full Base Rent with respect
to the entire Premises on the day immediately following the expiration of the Abatement Period.

 

(b)          Additional
Rent. In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”):
(i) commencing on the Rent Commencement Date, Tenant’s Share of “Operating Expenses” (as defined in Section 5),
and (ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without
limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements,
terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period.

 

4.            Base
Rent.

 

(a)          Annual
Adjustments. Base Rent shall be increased on each annual anniversary of the Rent Commencement Date (provided, however, that
if the Rent Commencement Date occurs on a day other than the first day of a calendar month, then Base Rent shall be increased on
each annual anniversary of the first day of the first full calendar month immediately following the Rent Commencement Date) (each
an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent
Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent,
as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

 

(b)          Additional
TI Allowance. In addition to the Tenant Improvement Allowance (as defined in the Work Letter), Landlord shall, subject to the
terms of the Work Letter, make available to Tenant the Additional Tenant Improvement Allowance (as defined in the Work Letter).
Commencing on the Rent Commencement Date and continuing thereafter on the first day of each month during the Base Term, Tenant
shall pay the amount necessary to fully amortize the portion of the Additional Tenant Improvement Allowance actually funded by
Landlord, if any, in equal monthly payments with interest at a rate of 7% per annum over the Base Term, which interest shall begin
to accrue on the date that Landlord first disburses such Additional Tenant Improvement Allowance or any portion(s) thereof
(“TI Rent”). Any TI Rent remaining unpaid as of the expiration or earlier termination of this Lease shall be
paid to Landlord in a lump sum at the expiration or earlier termination of this Lease.

 

    

    
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5.            Operating
Expense Payments. Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the
Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year.
Commencing on the Rent Commencement Date, and continuing thereafter on the first day of each month during the Term, Tenant shall
pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month
shall be prorated.

 

The term “Operating
Expenses” means all costs and expenses of any kind or description whatsoever incurred or accrued each calendar year by
Landlord with respect to the Building (including the Building’s Share of all costs and expenses of any kind or description
incurred or accrued by Landlord with respect to the Project which are not specific to the Building or any other building located
in the Project) (including, without duplication, (u) Taxes (as defined in Section 9), (v) the cost of upgrades
to the Building or Project (to the extent allowance as Permitted Capital Improvements (as defined below)) or enhanced services
provided at the Building and/or Project which are reasonably intended to encourage social distancing, promote and protect health
and physical well-being and/or reasonably intended to limit the spread of communicable diseases and/or viruses of any kind or nature
that are more virulent than the seasonal flu (collectively, “Infectious Conditions”), (w) Permitted Capital
Improvements amortized over the lesser of 10 years or the useful life of such Permitted Capital Improvements (except for Permitted
Capital Improvements with respect to the roof, which shall be amortized over 15 years), (x) the cost (including, without limitation,
any subsidies which Landlord may provide in connection with the common area amenities (the “Common Area Amenities”))
of the Common Area Amenities now or hereafter located at the Project, (y) costs related to any parking structure or parking
areas serving the Project and costs for transportation services (including costs associated with Landlord’s operation of
or participation in a shuttle service), and (z) and the costs of Landlord’s third party property manager (not to exceed
3% of Base Rent) or, if there is no third party property manager, administration rent in the amount of 3% of Base Rent (provided
that during the Abatement Period, Tenant shall nonetheless be required to pay administration rent each month equal to the amount
of the administration rent that Tenant would have been required to pay in the absence of there being an Abatement Period)), excluding
only:

 

(a)          the
original construction costs of the Project and renovation prior to the date of this Lease and costs of correcting defects in such
original construction or renovation;

 

(b)         capital
expenditures other than those capital repairs improvements and replacements that: (1) are required in order to comply with
Legal Requirements (other than compliance with those Legal Requirements for which Landlord is, at Landlord’s sole cost and
expense, responsible for compliance with pursuant the provisions of the first sentence of the second paragraph of Section 7
below); (2) actually reduce Operating Expenses, (3) which are reasonably determined by Landlord to be necessary to continue
to maintain or improve the utility, efficiency or capacity of the Building or any Building Systems, (4) are incurred in connection
with repairs that extend the life of any capital items and/or (5) are triggered by Tenant’s particular use of the Premises
or Tenant’s Alterations (collectively, “Permitted Capital Improvements”);

 

(c)          interest,
principal payments of Mortgage (as defined in Section 27) debts of Landlord, financing costs and amortization of funds
borrowed by Landlord, whether secured or unsecured and all payments of rent (but not taxes or operating expenses) under any ground
lease or other underlying lease of all or any portion of the Project;

 

(d)         depreciation
of the Project (except for capital improvements, the cost of which are includable in Operating Expenses);

 

    

    
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(e)          advertising,
legal and space planning expenses and leasing commissions and other costs and expenses incurred in procuring and leasing space
to tenants for the Project, including any leasing office maintained in the Project, free rent and construction allowances for tenants;

 

(f)           legal
and other expenses incurred in the negotiation or enforcement of leases;

 

(g)          completing,
fixturing, improving, renovating, painting, redecorating or other work, which Landlord pays for or performs for other tenants within
their premises, and costs of correcting defects in such work;

 

(h)          costs
to be reimbursed by other tenants of the Project or Taxes to be paid directly by Tenant or other tenants of the Project, whether
or not actually paid;

 

(i)           salaries,
wages, benefits and other compensation paid to (i) personnel of Landlord or its agents or contractors above the position of
the person, regardless of title, who has day-to-day management responsibility for the Project or (ii) officers and employees
of Landlord or its affiliates who are not assigned in whole or in part to the operation, management, maintenance or repair of the
Project; provided, however, that with respect to any such person who does not devote substantially all of his or her employed time
to the Project, the salaries, wages, benefits and other compensation of such person shall be prorated to reflect time spent on
matters related to operating, managing, maintaining or repairing the Project in comparison to the time spent on matters unrelated
to operating, managing, maintaining or repairing the Project;

 

(j)           general
organizational, administrative and overhead costs relating to maintaining Landlord’s existence, either as a corporation,
partnership, or other entity, including general corporate, legal and accounting expenses;

 

(k)          costs
(including attorneys’ fees and costs of settlement, judgments and payments in lieu thereof) incurred in connection with disputes
with tenants, other occupants, or prospective tenants, and costs and expenses, including legal fees, incurred in connection with
negotiations or disputes with employees, consultants, management agents, leasing agents, purchasers or mortgagees of the Building;

 

(l)           costs
incurred by Landlord due to the violation by Landlord, its employees, agents or contractors or any tenant of the terms and conditions
of any lease of space in the Project or any Legal Requirement (as defined in Section 7);

 

(m)         penalties,
fines or interest incurred as a result of Landlord’s inability or failure to make payment of Taxes and/or to file any tax
or informational returns when due, or from Landlord’s failure to make any payment of Taxes required to be made by Landlord
hereunder before delinquency;

 

(n)          overhead
and profit increment paid to Landlord or to subsidiaries or affiliates of Landlord for goods and/or services in or to the Project
to the extent the same exceeds the costs of such goods and/or services rendered by unaffiliated third parties on a competitive
basis;

 

(o)          costs
of Landlord’s charitable or political contributions, or of fine art maintained at the Project;

 

(p)          costs
in connection with services (including electricity), items or other benefits of a type which are not standard for the Project and
which are not available to Tenant without specific charges therefor, but which are provided to another tenant or occupant of the
Project, whether or not such other tenant or occupant is specifically charged therefor by Landlord or the costs of Utilities (as
defined in Section 11), including electricity, paid directly by Tenant to the Utility provider pursuant to Section 11;

 

(q)          costs
incurred in the sale or refinancing of the Project;

  

    

    
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(r)           net
income taxes of Landlord or the owner of any interest in the Project, franchise, capital stock, gift, estate or inheritance taxes
or any federal, state or local documentary taxes imposed against the Project or any portion thereof or interest therein;

 

(s)          costs
of repairs or other work necessitated by fire, windstorm or other casualty; provided such costs of repairs or other work shall
be paid by the parties in accordance with the provisions of Section 18;

 

(t)           any
expenses otherwise includable within Operating Expenses to the extent actually reimbursed by insurance (or, if Landlord fails to
maintain the insurance required to be carried by Landlord pursuant to Section 17, would have been reimbursed by insurance
required to be carried by Landlord pursuant to Section 17);

 

(u)          costs
to the extent arising from the gross negligence or willful misconduct of Landlord; or Landlord’s officers, directors, employees,
managers or agents;

 

(v)          any
costs incurred to remove, study, test or remediate Hazardous Materials in or about the Building or the Project for which Tenant
is not responsible under this Lease; and

 

(w)         any
expenses otherwise includable within Operating Expenses to the extent actually reimbursed by persons other than tenants of the
Project under leases for space in the Project.

 

Within 90 days after
the end of each calendar year (or such longer period as may be reasonably required), Landlord shall furnish to Tenant a statement
(an “Annual Statement”) showing in reasonable detail: (a) the total and Tenant’s Share of actual
Operating Expenses for the previous calendar year, and (b) the total of Tenant’s payments in respect of Operating Expenses
for such year. If Tenant’s Share of actual Operating Expenses for such year exceeds Tenant’s payments of Operating
Expenses for such year, the excess shall be due and payable by Tenant as Rent within 30 days after delivery of such Annual Statement
to Tenant. If Tenant’s payments of Operating Expenses for such year exceed Tenant’s Share of actual Operating Expenses
for such year Landlord shall pay the excess to Tenant within 30 days after delivery of such Annual Statement, except that after
the expiration, or earlier termination of the Term or if Tenant is delinquent in its obligation to pay Rent, Landlord shall pay
the excess to Tenant after deducting all other amounts due Landlord. Landlord’s and Tenant’s obligations to pay any
overpayments or deficiencies due pursuant to this paragraph shall survive the expiration or earlier termination of this Lease.

 

Following the date
that is 18 months after Landlord’s delivery of an Annual Statement to Tenant, Tenant shall not be responsible for the payment
of items of Operating Expenses not reflected in such Annual Statement, except for Taxes for which Tenant is responsible under this
Lease and/or any costs for which Landlord is billed after the expiration of such 18 month period.

 

The Annual Statement
shall be final and binding upon Tenant unless Tenant, within 90 days after Tenant’s receipt thereof, shall contest any item
therein by giving written notice to Landlord, specifying each item contested and the reason therefor. If, during such 90 day period,
Tenant reasonably and in good faith questions or contests the accuracy of Landlord’s statement of Tenant’s Share of
Operating Expenses, Landlord will provide Tenant with access to Landlord’s books and records relating to the operation of
the Project and such information as Landlord reasonably determines to be responsive to Tenant’s questions (the “Expense
Information”). If after Tenant’s review of such Expense 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 regionally recognized
public accounting firm selected by Tenant and approved by Landlord (which approval shall not be unreasonably withheld or delayed),
working pursuant to a fee arrangement other than a contingent fee (at Tenant’s sole cost and expense), audit and/or review
the Expense Information for the year in question (the “Independent Review”). The results of any such Independent
Review shall be binding on Landlord and Tenant. If the Independent Review shows that the payments actually made by Tenant with
respect to Operating Expenses for the calendar year in question exceeded Tenant’s Share of Operating Expenses for such calendar
year, Landlord shall at Landlord’s option either (i) credit the excess amount to the next succeeding installments of
estimated Operating Expenses or (ii) pay the excess to Tenant within 30 days after delivery of such statement, except that
after the expiration or earlier termination of this Lease or if Tenant is delinquent in its obligation to pay Rent, Landlord shall
pay the excess to Tenant after deducting all other amounts due Landlord. If the Independent Review shows that Tenant’s payments
with respect to Operating Expenses for such calendar year were less than Tenant’s Share of Operating Expenses for the calendar
year, Tenant shall pay the deficiency to Landlord within 30 days after delivery of such statement. If the Independent Review shows
that Tenant has overpaid with respect to Operating Expenses by more than 5% then Landlord shall reimburse Tenant for all costs
incurred by Tenant for the Independent Review. Operating Expenses for the calendar years in which Tenant’s obligation to
share therein begins and ends shall be prorated. Notwithstanding anything set forth herein to the contrary, if the Building is
not at least 95% occupied on average during any year of the Term, Tenant’s Share of Operating Expenses for such year shall
be computed as though the Building had been 95% occupied on average during such year.

 

    

    
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“Tenant’s
Share” shall be the percentage set forth on the first page of this Lease as Tenant’s Share as reasonably adjusted
by Landlord for actual changes in the physical size of the Premises or the Project occurring thereafter. If Landlord has a reasonable
basis for doing so, Landlord may equitably increase Tenant’s Share for any item of expense or cost reimbursable by Tenant
that relates to a repair, replacement, or service that benefits only the Premises or only a portion of the Project that includes
the Premises or that varies with occupancy or use. Base Rent, Tenant’s Share of Operating Expenses and all other amounts
payable by Tenant to Landlord hereunder are collectively referred to herein as “Rent.” The rentable area of
the Premises set forth on page 1 of this Lease shall not be subject to re-measurement by Landlord or Tenant.

 

6.            Security
Deposit. Tenant shall deposit with Landlord, upon delivery of an executed copy of this Lease to Landlord, a security deposit
(the “Security Deposit”) for the performance of all of Tenant’s obligations hereunder in the amount set
forth on page 1 of this Lease, which Security Deposit shall be in the form of an unconditional and irrevocable letter of credit
(the “Letter of Credit”): (i) in form and substance satisfactory to Landlord, (ii) naming Landlord
as beneficiary, (iii) expressly allowing Landlord to draw upon it at any time from time to time by delivering to the issuer
notice that Landlord is entitled to draw thereunder, (iv) issued by an FDIC-insured financial institution satisfactory to
Landlord, and (v) redeemable by presentation of a sight draft in the state of Landlord’s choice. If Tenant does not
provide Landlord with a substitute Letter of Credit complying with all of the requirements hereof at least 10 days before the stated
expiration date of any then current Letter of Credit, Landlord shall have the right to draw the full amount of the current Letter
of Credit and hold the funds drawn in cash without obligation for interest thereon as the Security Deposit. The Security Deposit
shall be held by Landlord as security for the performance of Tenant’s obligations under this Lease. The Security Deposit
is not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s default. Upon each occurrence
of a Default (as defined in Section 20), Landlord may use all or any part of the Security Deposit to pay delinquent
payments due under this Lease, future rent damages under California Civil Code Section 1951.2, and the cost of any damage,
injury, expense or liability caused by such Default, without prejudice to any other remedy provided herein or provided by law.
Landlord’s right to use the Security Deposit under this Section 6 includes the right to use the Security Deposit
to pay future rent damages following the termination of this Lease pursuant to Section 21(c) below. Upon any use
of all or any portion of the Security Deposit, Tenant shall pay Landlord on demand the amount that will restore the Security Deposit
to the amount set forth on Page 1 of this Lease. Tenant hereby waives the provisions of any law, now or hereafter in force,
including, without limitation, California Civil Code Section 1950.7, which provide that Landlord may claim from a security
deposit only those sums reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by Tenant or to
clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord
for any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent
or invitee of Tenant. Upon 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 periods prior to the filing of such proceedings.
If Tenant shall fully perform every provision of this Lease to be performed by Tenant, the Security Deposit, or any balance thereof
(i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned
to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within 90 days after the
expiration or earlier termination of this Lease.

  

    

    
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If Landlord transfers
its interest in the Project or this Lease, Landlord shall either (a) transfer any Security Deposit then held by Landlord to
a person or entity assuming Landlord’s obligations under this Section 6, or (b) return to Tenant any Security
Deposit then held by Landlord and remaining after the deductions permitted herein. Upon such transfer to such transferee or the
return of the Security Deposit to Tenant, Landlord shall have no further obligation with respect to the Security Deposit, and Tenant’s
right to the return of the Security Deposit shall apply solely against Landlord’s transferee. The Security Deposit is not
an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s default. Landlord’s obligation
respecting the Security Deposit is that of a debtor, not a trustee, and no interest shall accrue thereon.

 

7.            Use.
The Premises shall be used solely for the Permitted Use set forth in the basic lease provisions on page 1 of this Lease, and
in compliance with all laws, orders, judgments, ordinances, regulations, codes, directives, permits, licenses, covenants and restrictions
now or hereafter applicable to the Premises, and to the use and occupancy thereof, including, without limitation, the Americans
With Disabilities Act, 42 U.S.C. § 12101, et seq. (together with the regulations promulgated pursuant thereto, “ADA”)
(collectively, “Legal Requirements” and each, a “Legal Requirement”). Tenant shall, upon
5 days’ written notice from Landlord, discontinue any use of the Premises which is declared by any Governmental Authority
(as defined in Section 9) having jurisdiction to be a violation of a Legal Requirement. Tenant will not use or permit
the Premises to be used for any purpose or in any manner that would void Tenant’s or Landlord’s insurance, increase
the insurance risk, or cause the disallowance of any sprinkler or other credits. Tenant shall not permit any part of the Premises
to be used as a “place of public accommodation”, as defined in the ADA or any similar legal requirement. Tenant shall
reimburse Landlord promptly upon demand for any additional premium charged for any such insurance policy by reason of Tenant’s
failure to comply with the provisions of this Section or otherwise caused by Tenant’s use and/or occupancy of the Premises.
Tenant will use the Premises in a careful, safe and proper manner and will not commit or permit waste, overload the floor or structure
of the Premises, subject the Premises to use that would damage the Premises or obstruct or interfere with the rights of Landlord
or other tenants or occupants of the Project, including conducting or giving notice of any auction, liquidation, or going out of
business sale on the Premises, or using or allowing the Premises to be used for any unlawful purpose. Tenant shall cause any equipment
or machinery to be installed in the Premises so as to reasonably prevent sounds or vibrations from the Premises from extending
into Common Areas, or other space in the Project. Tenant shall not place any machinery or equipment which would overload the floor
in or upon the Premises or transport or move such items through the Common Areas of the Project or in the Project elevators without
the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed. Except as may
be provided under the Work Letter and/or consented to by Landlord in connection with any Alterations (as defined in Section 12),
Tenant shall not, without the prior written consent of Landlord, use the Premises in any manner which will require ventilation,
air exchange, heating, gas, steam, electricity or water beyond the existing capacity of the Project as proportionately allocated
to the Premises based upon Tenant’s Share as usually furnished for the Permitted Use.

 

Landlord shall be responsible,
at Landlord’s cost and not as part of Operating Expenses, for the compliance of (a) Landlord’s Work, and (b) the
Common Areas of the Building and the Project with Legal Requirements as of the Commencement Date, notwithstanding when such non-compliance
is discovered. Following the Commencement Date, Landlord shall, as an Operating Expense (to the extent such Legal Requirement is
generally applicable to similar buildings in the area in which the Project is located) and at Tenant’s expense (to the extent
such Legal Requirement is triggered by reason of Tenant’s, as compared to other tenants of the Project, specific use of the
Premises (as opposed to general laboratory and office occupancy), the Tenant Improvements or Tenant’s Alterations) make any
alterations or modifications to the Common Areas or the Building or the Project or the exterior of the Building that are required
by Legal Requirements. Except as provided in the two immediately preceding sentence or as otherwise set forth in the Work Letter,
Tenant, at its sole expense, shall make any alterations or modifications to the interior of the Premises that are required by Legal
Requirements (including, without limitation, compliance of the Premises with the ADA) related to Tenant’s specific use of
the Premises (as opposed to general laboratory and office occupancy), the Tenant Improvements or Tenant’s Alterations. Notwithstanding
any other provision herein to the contrary, subject to the terms of this paragraph, Tenant shall be responsible for any and all
demands, claims, liabilities, losses, costs, expenses, actions, causes of action, damages or judgments, and all reasonable expenses
incurred in investigating or resisting the same (including, without limitation, reasonable attorneys’ fees, charges and disbursements
and costs of suit) (collectively, “Claims”) to the extent arising out of or in connection with any failure of
the Premises to comply with Legal Requirements to the extent related to Tenant’s specific use of the Premises (as opposed
to general laboratory and office occupancy), the Tenant Improvements or Tenant’s Alterations, and Tenant shall indemnify,
defend, hold and save Landlord harmless from and against any and all Claims to the extent arising out of or in connection with
any breach of this sentence.

  

    

    
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Tenant acknowledges
that Landlord may, but shall not be obligated to, seek to obtain Leadership in Energy and Environmental Design (LEED), WELL Building
Standard, or other similar “green” certification with respect to the Project and/or the Premises, and Tenant agrees
to reasonably cooperate with Landlord, and to provide such information and/or documentation as Landlord may reasonably request,
in connection therewith.

 

8.           Holding
Over. If, with Landlord’s express written consent, Tenant retains possession of the Premises after the termination of
the Term, (i) unless otherwise agreed in such written consent, such possession shall be subject to immediate termination by
Landlord at any time, (ii) all of the other terms and provisions of this Lease (including, without limitation, the adjustment
of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any expansion or renewal
option or other similar right or option) during such holdover period, (iii) Tenant shall continue to pay Base Rent in the
amount payable upon the date of the expiration or earlier termination of this Lease or such other amount as Landlord and Tenant
may agree in such written consent (provided, however, that the foregoing, shall not obligate either party to agree to or negotiate
any such consent), and (iv) all other payments shall continue under the terms of this Lease. If Tenant remains in possession
of the Premises after the expiration or earlier termination of the Term without the express written consent of Landlord, (A) Tenant
shall become a tenant at sufferance upon the terms of this Lease except that the monthly rental shall be equal to 150% of Rent
in effect during the last 30 days of the Term, and (B) Tenant shall be responsible for all damages suffered by Landlord resulting
from or occasioned by Tenant’s holding over, including consequential damages; provided, however, that if Tenant delivers
a written inquiry to Landlord within 30 days prior to the expiration or earlier termination of the Term, Landlord will notify Tenant
whether the potential exists for consequential damages. No holding over by Tenant, whether with or without consent of Landlord,
shall operate to extend this Lease except as otherwise expressly provided, and this Section 8 shall not be construed
as consent for Tenant to retain possession of the Premises. Acceptance by Landlord of Rent after the expiration of the Term or
earlier termination of this Lease shall not result in a renewal or reinstatement of this Lease.

 

9.           Taxes.
Landlord shall pay, as part of Operating Expenses, all taxes, levies, fees, assessments and governmental charges of any kind, existing
as of the Commencement Date or thereafter enacted (collectively referred to as “Taxes”), imposed by any federal,
state, regional, municipal, local or other governmental authority or agency, including, without limitation, quasi-public agencies
(collectively, “Governmental Authority”) during the Term, including, without limitation, all Taxes: (i) imposed
on or measured by or based, in whole or in part, on rent payable to (or gross receipts received by) Landlord under this Lease and/or
from the rental by Landlord of the Project or any portion thereof, or (ii) based on the square footage, assessed value or
other measure or evaluation of any kind of the Premises or the Project, or (iii) assessed or imposed by or on the operation
or maintenance of any portion of the Premises or the Project, including parking, or (iv) assessed or imposed by, or at the
direction of, or resulting from Legal Requirements, or interpretations thereof, promulgated by any Governmental Authority, or (v) imposed
as a license or other fee, charge, tax, or assessment on Landlord’s business or occupation of leasing space in the Project.
Landlord may contest by appropriate legal proceedings the amount, validity, or application of any Taxes or liens securing Taxes.
Taxes shall not include any net income taxes imposed on Landlord except to the extent such net income taxes are in substitution
for any Taxes payable hereunder. If any such Tax is levied or assessed directly against Tenant, then Tenant shall be responsible
for and shall pay the same at such times and in such manner as the taxing authority shall require. Tenant shall pay, prior to delinquency,
any and all Taxes levied or assessed against any personal property or trade fixtures placed by Tenant in the Premises, whether
levied or assessed against Landlord or Tenant. If any Taxes on Tenant’s personal property or trade fixtures are levied against
Landlord or Landlord’s property, or if the assessed valuation of the Project is increased by a value attributable to 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, higher than the base valuation on which Landlord from time-to-time allocates Taxes to all tenants in the
Project, Landlord shall have the right, but not the obligation, to pay such Taxes. Landlord’s determination of any excess
assessed valuation shall be binding and conclusive, absent manifest error. The amount of any such payment by Landlord shall constitute
Additional Rent due from Tenant to Landlord within 30 days following Tenant’s receipt of written demand from Landlord.

 

    

    
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10.          Parking.
Subject to all applicable Legal Requirements, Force Majeure, a Taking (as defined in Section 19 below) and the exercise
by Landlord of its rights hereunder, Tenant shall have the right, in common with other tenants of the Project pro rata, to use
approximately 2.85 parking spaces per 1,000 rentable square feet of the Premises, which parking spaces shall be located in the
parking structure or other parking areas serving the Project designated for non-reserved parking, subject in each case to Landlord’s
rules and regulations. Landlord may allocate parking spaces among Tenant and other tenants in the Project pro rata as described
above if Landlord determines that such parking facilities are becoming crowded. Landlord shall not be responsible for enforcing
Tenant’s parking rights against any third parties, including other tenants of the Project.

 

If applicable to the
Project, Tenant shall comply with the requirements of any TDMP (as defined below) which may be required by the City of San Carlos
or other Governmental Authority with respect to the parking areas at the Project which are binding on tenants in the Project or
tenants using the parking lots or structures available at the Project. A copy of any TDMP in effect from time to time during the
Term shall be made available to Tenant. Notwithstanding anything to the contrary contained in this Lease, if applicable to the
Project, Tenant shall be required to comply with the requirements of (and Operating Expenses shall expressly include any costs
incurred by Landlord to comply with) any transportation demand management plan (“TDMP”) and any other permit
conditions (e.g. rider sharing and carpooling initiatives) imposed by the City of San Carlos or other Governmental Authority.

 

11.          Utilities,
Services. Landlord shall provide, subject to the terms of this Section 11, water, electricity, heat, light, power,
sewer, and other utilities (including gas and fire sprinklers to the extent the Project is plumbed for such services), and, with
respect to the Common Areas only, refuse and trash collection and janitorial services (collectively, “Utilities”).
Landlord shall pay, as Operating Expenses or subject to Tenant’s reimbursement obligation, for all Utilities used on the
Premises, all maintenance charges for Utilities, and any storm sewer charges or other similar charges for Utilities imposed by
any Governmental Authority or Utility provider, and any taxes, penalties, surcharges or similar charges thereon. Landlord may cause,
at Landlord’s expense, any Utilities to be separately metered or charged directly to Tenant by the provider. Tenant shall
pay directly to the Utility provider, prior to delinquency, any separately metered Utilities and services which may be furnished
to Tenant or the Premises during the Term. Tenant shall pay, as part of Operating Expenses, its share of all charges for jointly
metered Utilities based upon consumption, as reasonably determined by Landlord. No interruption or failure of Utilities, from any
cause whatsoever other than Landlord’s willful misconduct, shall result in eviction or constructive eviction of Tenant, termination
of this Lease or, except as provided in the immediately following paragraph, the abatement of Rent. Tenant agrees to limit use
of water and sewer with respect to Common Areas to normal restroom use. Notwithstanding anything to the contrary contained herein,
Tenant shall be responsible for obtaining and paying for its own janitorial services for the Premises.

 

    

    
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Notwithstanding anything
to the contrary set forth herein, if (i) a stoppage of an Essential Service (as defined below) to the Premises shall
occur and such stoppage is due solely to the gross negligence or willful misconduct of Landlord and not due in any part to
any act or omission on the part of Tenant or any Tenant Party or any matter beyond Landlord’s reasonable control (any such
stoppage of an Essential Service being hereinafter referred to as a “Service Interruption”), and (ii) such
Service Interruption continues for more than 3 consecutive business days after Landlord shall have received written notice thereof
from Tenant, and (iii) as a result of such Service Interruption, the conduct of Tenant’s normal operations in the Premises
are materially and adversely affected, then there shall be an abatement of one day’s Base Rent for each day during which
such Service Interruption continues after such 3 business day period; provided, however, that if any part of the Premises is reasonably
useable for Tenant’s normal business operations, as reasonably determined by Landlord and Tenant, or if Tenant conducts all
or any part of its operations in any portion of the Premises notwithstanding such Service Interruption, then the amount of each
daily abatement of Base Rent shall only be proportionate to the nature and extent of the interruption of Tenant’s normal
operations or ability to use the Premises, as reasonably determined by Landlord and Tenant. Subject to the self-help rights granted
to Tenant pursuant to Section 31, the rights granted to Tenant under this paragraph shall be Tenant’s sole and
exclusive remedy resulting from a failure of Landlord to provide services, and Landlord shall not otherwise be liable for any loss
or damage suffered or sustained by Tenant resulting from any failure or cessation of services. For purposes hereof, the term “Essential
Services” shall mean the following services: HVAC service, water, sewer and electricity, but in each case only to the
extent that Landlord has an obligation to provide same to Tenant under this Lease.

 

Landlord’s sole
obligation for either providing emergency generator or providing emergency back-up power to Tenant shall be: (i) to provide
emergency generator with not less than the capacity of the emergency generator located in the Building as of the Commencement Date,
and (ii) to contract with a third party to maintain the emergency generator as per the manufacturer’s standard maintenance
guidelines. Except as otherwise provided in the immediately preceding sentence, Landlord shall have no obligation to provide Tenant
with an operational emergency generator or back-up power or to supervise, oversee or confirm that the third party maintaining the
emergency generators is maintaining the generators as per the manufacturer’s standard guidelines or otherwise. Notwithstanding
anything to the contrary contained herein, Landlord shall, at least once per calendar month as part of the maintenance of the Building,
run the emergency generator for a period determined reasonably and in good faith by Landlord for the purpose of determining that
it operates when started and, to the extent that it does not operate when started, shall notify the third party with whom Landlord
has a contract to maintain the emergency generator that service is required. Landlord shall, upon written request from Tenant (not
more frequently than once per calendar year), make available for Tenant’s inspection the maintenance contract and maintenance
records for the emergency generator for the 12 month period immediately preceding Landlord’s receipt of Tenant’s written
request. During any period of replacement, repair or maintenance of the emergency generator when the emergency generator is not
operational, including any delays thereto due to the inability to obtain parts or replacement equipment, Landlord shall have no
obligation to provide Tenant with an alternative back-up generator or generators or alternative sources of back-up power. Tenant
expressly acknowledges and agrees that Landlord does not guaranty that such emergency generator will be operational at all times
or that emergency power will be available to the Premises when needed. During any period when the emergency generator is not operational,
Landlord shall reasonably and promptly cooperate, at no material cost to Landlord, with Tenant in its efforts to obtain temporary
back-up power for the Premises during such period of non-operation of the emergency generator, including providing a location for
the temporary placement of equipment (which may include a temporary generator) to provide back-up power to the Premises during
such period of non-operation of the emergency generator.

 

With respect to Utilities
provided to the Premises that are separately metered, Tenant agrees to provide Landlord with access to Tenant’s water and/or
energy usage data on a monthly basis, either by providing Tenant’s applicable utility login credentials to Landlord’s
Measurabl online portal, or by another delivery method reasonably agreed to by Landlord and Tenant. The actual, reasonable costs
and expenses incurred by Landlord in connection with receiving and analyzing such water and/or energy usage data (including, without
limitation, as may be required pursuant to applicable Legal Requirements) shall be included as part of Operating Expenses.

  

    

    
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12.          Alterations
and Tenant’s Property. Any alterations, additions, or improvements made to the Premises by or on behalf of Tenant, including
additional locks or bolts of any kind or nature upon any doors or windows in the Premises, (but excluding installation, removal
or realignment of furniture systems, office furniture, non-structural office or conference room partitions, audiovisual equipment,
monitors, flat panel screens, microphones, free-standing speakers and noise cancelling equipment (other than the removal of furniture
systems, partitions or equipment owned or paid for by Landlord), which shall not constitute Alterations) not involving any modifications
to the structure or connections (other than by ordinary plugs or jacks) to Building Systems (as defined in Section 13)
(“Alterations”) shall be subject to Landlord’s prior written consent, which may be given or withheld in
Landlord’s sole discretion if any such Alteration affects the structure or Building Systems and shall not be otherwise unreasonably
withheld, conditioned or delayed. Tenant may construct nonstructural, cosmetic Alterations in the Premises without Landlord’s
prior approval if the aggregate cost of all such work in any 12 month period does not exceed $100,000 (not including paint and
flooring, which shall not be subject to a cap) (a “Notice-Only Alteration”), provided Tenant notifies Landlord
in writing of such intended Notice-Only Alteration, and such notice shall be accompanied by plans, specifications, work contracts
and such other information concerning the nature and cost of the Notice-Only Alteration as may be reasonably requested by Landlord,
which notice and accompanying materials shall be delivered to Landlord not less than 10 business days in advance of any proposed
construction. If Landlord approves any Alterations, Landlord may impose such conditions on Tenant in connection with the commencement,
performance and completion of such Alterations as Landlord may deem reasonably appropriate. Any request for approval shall be in
writing, delivered not less than 10 business days in advance of any proposed construction, and accompanied by plans, specifications,
bid proposals, work contracts and such other information concerning the nature and cost of the alterations as may be reasonably
requested by Landlord, including the identities and mailing addresses of all persons performing work or supplying materials. Landlord’s
right to review plans and specifications and to monitor construction shall be solely for its own benefit, and Landlord shall have
no duty to ensure that such plans and specifications or construction comply with applicable Legal Requirements. Tenant shall cause,
at its sole cost and expense, all Alterations to comply with insurance requirements and with Legal Requirements and shall implement
at its sole cost and expense any alteration or modification required by Legal Requirements as a result of any Alterations. Tenant
shall pay to Landlord, as Additional Rent, on demand, an amount equal to the actual and reasonable out-of-pocket costs incurred
by Landlord to review Tenant’s plans with respect to each Alteration, not to exceed $4,000.00 per Alteration. Before Tenant
begins any Alteration, Landlord may post on and about the Premises notices of non-responsibility pursuant to applicable law. Tenant
shall reimburse Landlord for, and indemnify and hold Landlord harmless from, any expense incurred by Landlord by reason of faulty
work done by Tenant or its contractors, delays caused by such work, or inadequate cleanup.

 

Upon Landlord’s
written request, Tenant shall furnish security or make other arrangements satisfactory to Landlord to assure payment for the completion
of all Alterations work free and clear of liens. With respect to all Alterations, Tenant shall provide (and cause each contractor
or subcontractor to provide) certificates of insurance for workers’ compensation and other coverage in amounts and from an
insurance company satisfactory to Landlord protecting Landlord against liability for personal injury or property damage during
construction. Upon completion of any Alterations, Tenant shall deliver to Landlord: (i) sworn statements setting forth the
names of all contractors and subcontractors who did the work and final lien waivers from all such contractors and subcontractors;
and (ii) “as built” plans for any such Alteration.

 

Except for Removable
Installations (as hereinafter defined), all Installations (as hereinafter defined) shall be and shall remain the property of Landlord
during the Term and following the expiration or earlier termination of the Term, shall not be removed by Tenant at any time during
the Term, and shall remain upon and be surrendered with the Premises as a part thereof. Notwithstanding the foregoing, Landlord
may, at the time its approval of any such Installation is requested or at the time it receives notice of a Notice-Only Alteration,
notify Tenant that Landlord requires that Tenant remove such Installation upon the expiration or earlier termination of the Term,
in which event Tenant shall remove such Installation in accordance with the immediately succeeding sentence. Upon the expiration
or earlier termination of the Term, Tenant shall remove (i) all wires, cables or similar equipment which Tenant has installed
in the Premises or in the risers or plenums of the Building, (ii) any Installations for which Landlord has given Tenant notice
of removal in accordance with the immediately preceding sentence, and (iii) all of Tenant’s Property (as hereinafter
defined), and Tenant shall restore and repair any damage caused by or occasioned as a result of such removal, including, without
limitation, capping off all such connections behind the walls of the Premises and repairing any holes. During any restoration period
beyond the expiration or earlier termination of the Term, Tenant shall pay Rent to Landlord as provided herein as if said space
were otherwise occupied by Tenant. If Landlord is requested by Tenant or any lender, lessor or other person or entity claiming
an interest in any of Tenant’s Property to waive any lien Landlord may have against any of Tenant’s Property, and Landlord
consents to such waiver, then Landlord shall be entitled to reimbursement from Tenant for its actual, reasonable out-of-pocket
costs incurred in connection with the preparation and negotiation of each such waiver of lien.

 

    

    
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For purposes of this
Lease, (x) “Removable Installations” means any items listed on Exhibit F attached hereto and
any items agreed by Landlord in writing to be included on Exhibit F in the future, (y) “Tenant’s
Property” means Removable Installations and, other than Installations, any personal property or equipment of Tenant that
may be removed without material damage to the Premises, and (z) “Installations” means all property of any
kind paid for with the TI Fund, all Alterations, all fixtures, and all partitions, hardware, built-in machinery, built-in casework
and cabinets and other similar additions, equipment, property and improvements built into the Premises so as to become an integral
part of the Premises, including, without limitation, fume hoods which penetrate the roof or plenum area, built-in cold rooms, built-in
warm rooms, walk-in cold rooms, walk-in warm rooms, deionized water systems, glass washing equipment, autoclaves, chillers, built-in
plumbing, electrical and mechanical equipment and systems, and any power generator and transfer switch.

 

Notwithstanding anything
to the contrary contained herein, Tenant shall not be required to remove or restore the Tenant Improvements constructed pursuant
to the Work Letter at the expiration or earlier termination of this Lease, nor shall Tenant have the right to remove such Tenant
Improvements at any time other than in accordance with this Section 12.

 

13.          Landlord’s
Repairs. Landlord, as an Operating Expense, shall maintain all of the structural, exterior, parking and other Common Areas
of the Project, including HVAC, electrical plumbing, fire sprinklers, elevators, generators (subject to the terms and conditions
set forth in the third paragraph of Section 11) and all other building systems serving the Premises and other portions
of the Project (“Building Systems”) in good repair, reasonable wear and tear and uninsured losses and damages
caused by Tenant, or by any of Tenant’s assignees, sublessees, licensees, agents, servants, employees, invitees and contractors
(or any of Tenant’s assignees, sublessees and/or licensees respective agents, servants, employees, invitees and contractors)
(collectively, “Tenant Parties”) excluded. Losses and damages caused by Tenant or any Tenant Party shall be
repaired by Landlord, to the extent not covered by insurance, at Tenant’s sole cost and expense. Landlord reserves the right
to stop Building Systems services when necessary (i) by reason of accident or emergency, or (ii) for planned repairs,
alterations or improvements, which are, in the judgment of Landlord, desirable or necessary to be made, until said repairs, alterations
or improvements shall have been completed. Landlord shall have no responsibility or liability for failure to supply Building Systems
services during any such period of interruption; provided, however, that Landlord shall, except in case of emergency,
make a commercially reasonable effort to give Tenant 48 hours advance notice of any planned stoppage of Building Systems services
for routine maintenance, repairs, alterations or improvements. Tenant shall promptly give Landlord written notice of any repair
required by Landlord pursuant to this Section, after which Landlord shall make a commercially reasonable effort to effect such
repair. Landlord shall not be liable for any failure to make any repairs or to perform any maintenance unless such failure shall
persist for an unreasonable time after Tenant’s written notice of the need for such repairs or maintenance. Tenant waives
its rights under any state or local law to terminate this Lease or to make such repairs at Landlord’s expense and agrees
that the parties’ respective rights with respect to such matters shall be solely as set forth herein. Repairs required as
the result of fire, earthquake, flood, vandalism, war, or similar cause of damage or destruction shall be controlled by Section 18.

 

14.          Tenant’s
Repairs. Subject to Section 13 hereof, Tenant, at its expense, shall repair, replace and maintain in good condition
all interior, non-structural portions of the Premises, including, without limitation, entries, doors, ceilings, interior windows,
interior walls, and the interior side of demising walls. Should Tenant fail to make any such repair or replacement or fail to maintain
the Premises, Landlord shall give Tenant notice of such failure. If Tenant fails to commence cure of such failure within 45 days
of Landlord’s notice, and thereafter diligently prosecute such cure to completion, Landlord may perform such work and shall
be reimbursed by Tenant within 45 days after demand therefor; provided, however, that if such failure by Tenant creates or could
create an emergency, Landlord may immediately commence cure of such failure and shall thereafter be entitled to recover the costs
of such cure from Tenant. Subject to Sections 17 and 18, Tenant shall bear the full uninsured cost of any repair
or replacement to any part of the Project that results from damage caused by Tenant or any Tenant Party.

 

    

    
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15.          Mechanic’s
Liens. Tenant shall discharge, by bond or otherwise, any mechanic’s lien filed against the Premises or against the Project
for work claimed to have been done for, or materials claimed to have been furnished to, Tenant within 10 days after Tenant’s
receipt of written notice of the filing thereof, at Tenant’s sole cost and shall otherwise keep the Premises and the Project
free from any liens arising out of work performed, materials furnished or obligations incurred by Tenant. Should Tenant fail to
discharge any lien described herein, Landlord shall have the right, but not the obligation, to pay such claim or post a bond or
otherwise provide security to eliminate the lien as a claim against title to the Project and the cost thereof shall be immediately
due from Tenant as Additional Rent. If Tenant shall lease or finance 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 filed as a matter of public record by any lessor or creditor of Tenant will 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 Project be furnished on the statement without qualifying language as
to applicability of the lien only to removable personal property, located in an identified suite held by Tenant.

 

16.          Indemnification.
Subject to the penultimate paragraph of Section 17, Tenant hereby indemnifies and agrees to defend, save and hold Landlord,
its officers, directors, employees, managers, agents, sub-agents, constituent entities and lease signators (collectively, “Landlord
Indemnified Parties”) harmless from and against any and all Claims for injury or death to persons or damage to property
occurring within or about the Premises or the Project arising directly or indirectly out of the use or occupancy of the Premises
or the Project by Tenant or any Tenant Parties (including, without limitation, any act, omission or neglect by Tenant or any Tenant’s
Parties in or about the Premises or at the Project) or the a breach or default by Tenant in the performance of any of its obligations
hereunder, except to the extent caused by the willful misconduct or negligence of Landlord Indemnified Parties. Landlord shall
not be liable to Tenant for, and Tenant assumes all risk of damage to, personal property (including, without limitation, loss of
records kept within the Premises). Tenant further waives any and all Claims for injury to Tenant’s business or loss of income
relating to any such damage or destruction of personal property (including, without limitation, any loss of records). Landlord
Indemnified Parties shall not be liable for any damages arising from any act, omission or neglect of any tenant in the Project
or of any other third party or Tenant Parties.

 

17.          Insurance.
Landlord shall maintain all risk property and, if applicable, sprinkler damage insurance covering the full replacement cost of
the Project. Landlord shall further procure and maintain commercial general liability insurance with a single loss limit of not
less than $2,000,000 for bodily injury and property damage with respect to the Project. Landlord may, but is not obligated to,
maintain such other insurance and additional coverages as it may deem necessary, including, but not limited to, flood, environmental
hazard and earthquake, loss or failure of building equipment, errors and omissions, rental loss during the period of repair or
rebuilding, workers’ compensation insurance and fidelity bonds for employees employed to perform services and insurance for
any improvements installed by Tenant or which are in addition to the standard improvements customarily furnished by Landlord without
regard to whether or not such are made a part of the Project. All such insurance shall be included as part of the Operating Expenses.
The Project may be included in a blanket policy (in which case the cost of such insurance allocable to the Project will be determined
by Landlord based upon the insurer’s cost calculations). Tenant shall also reimburse Landlord for any increased premiums
or additional insurance which Landlord reasonably deems necessary as a result of Tenant’s use of the Premises.

  

    

    
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Tenant, at its sole
cost and expense, shall maintain during the Term: all risk property insurance with business interruption and extra expense coverage,
covering the full replacement cost of all property and improvements installed or placed in the Premises by Tenant at Tenant’s
expense; workers’ compensation insurance with no less than the minimum limits required by law; employer’s liability
insurance with employers liability limits of $1,000,000 bodily injury by accident – each accident, $1,000,000 bodily injury
by disease – policy limit, and $1,000,000 bodily injury by disease – each employee; and commercial general liability
insurance, with a minimum limit of not less than $3,000,000 per occurrence for bodily injury and property damage with respect to
the Premises. The commercial general liability insurance maintained by Tenant shall name Alexandria Real Estate Equities, Inc.,
and Landlord, its officers, directors, employees, managers, agents, sub-agents, constituent entities and lease signators (collectively,
 “Landlord Insured Parties”), as additional insureds; insure on an occurrence and not a claims-made basis; be
issued by insurance companies which have a rating of not less than policyholder rating of A and financial category rating of at
least Class X in “Best’s Insurance Guide”; shall not be cancelable for nonpayment of premium unless 30 days
prior written notice shall have been given to Landlord from the insurer; not contain a hostile fire exclusion; contain a contractual
liability endorsement; and provide primary coverage to Landlord Insured Parties (any policy issued to Landlord Insured Parties
providing duplicate or similar coverage shall be deemed excess over Tenant’s policies, regardless of limits). Copies of such
policies (if requested by Landlord), or certificates of insurance showing the limits of coverage required hereunder and showing
Landlord as an additional insured, along with reasonable evidence of the payment of premiums for the applicable period, shall be
delivered to Landlord by Tenant prior to (i) the earlier to occur of (x) the Commencement Date, or (y) the date
that Tenant accesses the Premises under this Lease, and (ii) each renewal of said insurance. Tenant’s policy may be
a “blanket policy” with an aggregate per location endorsement which specifically provides that the amount of insurance
shall not be prejudiced by other losses covered by the policy. Tenant shall, at least 5 days prior to the expiration of such policies,
furnish Landlord with renewal certificates.

 

In each instance where
insurance is to name Landlord as an additional insured, Tenant shall upon written request of Landlord also designate and furnish
certificates so evidencing Landlord as additional insured to: (i) any lender of Landlord holding a security interest in the
Project or any portion thereof, (ii) the landlord under any lease wherein Landlord is tenant of the real property on which
the Project is located, if the interest of Landlord is or shall become that of a tenant under a ground or other underlying lease
rather than that of a fee owner, and/or (iii) any management company retained by Landlord to manage the Project.

 

The property insurance
obtained by Landlord and Tenant shall include a waiver of subrogation by the insurers and all rights based upon an assignment from
its insured, against Landlord or Tenant, and their respective officers, directors, employees, managers, agents, invitees and contractors
(“Related Parties”), in connection with any loss or damage thereby insured against. Neither party nor its respective
Related Parties shall be liable to the other for loss or damage caused by any risk insured against under property insurance required
to be maintained hereunder, and each party waives any claims against the other party, and its respective Related Parties, for such
loss or damage. The failure of a party to insure its property shall not void this waiver. Landlord and its respective Related Parties
shall not be liable for, and Tenant hereby waives all claims against such parties for, business interruption and losses occasioned
thereby sustained by Tenant or any person claiming through Tenant resulting from any accident or occurrence in or upon the Premises
or the Project from any cause whatsoever. If the foregoing waivers shall contravene any law with respect to exculpatory agreements,
the liability of Landlord or Tenant shall be deemed not released but shall be secondary to the other’s insurer.

 

Landlord may require
insurance policy limits to be raised to conform with requirements of Landlord’s lender and/or to bring coverage limits to
levels then being generally required of new tenants within the Project; provided, however, that the increased amount of coverage
is consistent with coverage amounts then being required by institutional owners of similar projects with tenants occupying similar
size premises in the geographical area in which the Project is located.

  

    

    
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18.             Restoration.
If, at any time during the Term, the Project or the Premises are damaged or destroyed by a fire or other insured casualty, Landlord
shall notify Tenant within 60 days after discovery of such damage as to the amount of time Landlord reasonably estimates it will
take to restore the Project or the Premises, as applicable (the “Restoration Period”). If the Restoration Period
is estimated to exceed 9 months (the “Maximum Restoration Period”), Landlord may, in such notice, elect to terminate
this Lease as of the date that is 75 days after the date of discovery of such damage or destruction; provided, however,
that notwithstanding Landlord’s election to restore, Tenant may elect to terminate this Lease by written notice to Landlord
delivered within 10 business days of receipt of a notice from Landlord estimating a Restoration Period for the Premises longer
than the Maximum Restoration Period. Unless either Landlord or Tenant so elects to terminate this Lease, Landlord shall, subject
to receipt of sufficient insurance proceeds (with any deductible to be treated as a current Operating Expense), promptly restore
the Premises (excluding the improvements installed by Tenant or by Landlord and paid for by Tenant), subject to delays arising
from the collection of insurance proceeds, from Force Majeure events or as needed to obtain any license, clearance or other authorization
of any kind required to enter into and restore the Premises issued by any Governmental Authority having jurisdiction over the use,
storage, handling, treatment, generation, release, disposal, removal or remediation of Hazardous Materials (as defined in Section 30)
in, on or about the Premises (collectively referred to herein as “Hazardous Materials Clearances”); provided,
however, that if repair or restoration of the Premises is not substantially complete as of the end of the Maximum Restoration
Period or, if longer, the Restoration Period, Landlord may, in its sole and absolute discretion, elect not to proceed with such
repair and restoration, or Tenant may by written notice to Landlord delivered within 10 business days of the expiration of the
Maximum Restoration Period or, if longer, the Restoration Period, elect to terminate this Lease, in which event Landlord shall
be relieved of its obligation to make such repairs or restoration and this Lease shall terminate as of the date that is 75 days
after the later of: (i) discovery of such damage or destruction, or (ii) the date all required Hazardous Materials Clearances
are obtained, but Landlord shall retain any Rent paid and the right to any Rent payable by Tenant prior to such election by Landlord
or Tenant.

 

Tenant, at its expense,
shall promptly perform, subject to delays arising from the collection of insurance proceeds, from Force Majeure events or to obtain
Hazardous Material Clearances, all repairs or restoration not required to be done by Landlord and shall promptly re-enter the Premises
and commence doing business in accordance with this Lease. Notwithstanding the foregoing, either Landlord or Tenant may terminate
this Lease upon written notice to the other if the Premises are damaged during the last year of the Term and Landlord reasonably
estimates that it will take more than 2 months to repair such damage; provided, however, that such notice is delivered within 10
business days after the date that Landlord provides Tenant with written notice of the estimated Restoration Period. Notwithstanding
anything to the contrary contained herein, Landlord shall also have the right to terminate this Lease if insurance proceeds are
not available for such restoration. Rent shall be abated from the date all required Hazardous Material Clearances are obtained
until the Premises are repaired and restored, in the proportion which the area of the Premises, if any, which is not usable by
Tenant bears to the total area of the Premises, unless Landlord provides Tenant with other space during the period of repair that
is suitable for the temporary conduct of Tenant’s business. In the event that no Hazardous Material Clearances are required
to be obtained by Tenant with respect to the Premises, rent abatement shall commence on the date of discovery of the damage or
destruction. Such abatement shall be the sole remedy of Tenant, and except as provided in this Section 18, Tenant waives
any right to terminate this Lease by reason of damage or casualty loss.

 

The provisions of this
Lease, including this Section 18, constitute an express agreement between Landlord and Tenant with respect to any and
all damage to, or destruction of, all or any part of the Premises, or any other portion of the Project, and any statute or regulation
which is now or may hereafter be in effect shall have no application to this Lease or any damage or destruction to all or any part
of the Premises or any other portion of the Project, the parties hereto expressly agreeing that this Section 18 sets
forth their entire understanding and agreement with respect to such matters.

 

    

    
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19.             Condemnation.
If the whole or any material part of the Premises or the Project is taken for any public or quasi-public use under governmental
law, ordinance, or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”
or “Taken”), and the Taking would in Landlord’s reasonable judgment, either prevent or materially interfere
with Tenant’s use of the Premises or materially interfere with or impair Landlord’s ownership or operation of the Project,
then upon written notice by Landlord this Lease shall terminate and Rent shall be apportioned as of said date. If part of the Premises
shall be Taken, and this Lease is not terminated as provided above, Landlord shall promptly restore the Premises and the Project
as nearly as is commercially reasonable under the circumstances to their condition prior to such partial Taking and the rentable
square footage of the Building, the rentable square footage of the Premises, Tenant’s Share of Operating Expenses and the
Rent payable hereunder during the unexpired Term shall be reduced to such extent as may be fair and reasonable under the circumstances.
Upon any such Taking, Landlord shall be entitled to receive the entire price or award from any such Taking without any payment
to Tenant, and Tenant hereby assigns to Landlord Tenant’s interest, if any, in such award. Tenant shall have the right, to
the extent that same shall not diminish Landlord’s award, to make a separate claim against the condemning authority (but
not Landlord) for such compensation as may be separately awarded or recoverable by Tenant for moving expenses and damage to Tenant’s
trade fixtures, if a separate award for such items is made to Tenant. Tenant hereby waives any and all rights it might otherwise
have pursuant to any provision of state law to terminate this Lease upon a partial Taking of the Premises or the Project.

 

20.             Events
of Default. Each of the following events shall be a default (“Default”) by Tenant under this Lease:

 

(a)             Payment
Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunder when due; provided, however, that
Landlord will give Tenant notice and an opportunity to cure any failure to pay Rent within 5 days of any such notice not more than
once in any 12 month period and Tenant agrees that such notice shall be in lieu of and not in addition to, or shall be deemed to
be, any notice required by law.

 

(b)             Insurance.
Any insurance required to be maintained by Tenant pursuant to this Lease shall be canceled or terminated or shall expire or shall
be reduced or materially changed, or Landlord shall receive a notice of nonrenewal of any such insurance and Tenant shall fail
to obtain replacement insurance at least 20 days before the expiration of the current coverage.

 

(c)             Abandonment.
Tenant shall abandon the Premises, without intent to re-occupy or have the Premises occupied in connection with a sublease or assignment
pursuant to Section 22, for a period in excess of 180 consecutive days (for any reason other than a casualty, condemnation,
a Force Majeure event or in connection with Alterations before performed at the Premises). Tenant shall not be deemed to have abandoned
the Premises if Tenant provides Landlord with reasonable advance notice prior to vacating and, at the time of vacating the Premises,
(i) Tenant completes Tenant’s obligations under the Decommissioning and HazMat Closure Plan in compliance with Section 28,
(ii) Tenant has obtained the release of the Premises of all Hazardous Materials Clearances and the Premises are free from
any residual impact from the Tenant HazMat Operations and provides reasonably detailed documentation to Landlord confirming such
matters, (iii) Tenant has made reasonable arrangements with Landlord for the security of the Premises for the balance of the
Term, and (iv) Tenant continues during the balance of the Term to satisfy and perform all of Tenant’s obligations under
this Lease as they come due.

 

(d)             Improper
Transfer. Tenant shall assign, sublease or otherwise transfer or attempt to transfer all or any portion of Tenant’s interest
in this Lease or the Premises except as expressly permitted herein, or Tenant’s interest in this Lease shall be attached,
executed upon, or otherwise judicially seized and such action is not released within 90 days of the action.

 

(e)             Liens.
Tenant shall fail to discharge or otherwise obtain the release of any lien placed upon the Premises in violation of this Lease
within the time period required pursuant to Section 15 of this Lease.

 

(f)              Insolvency
Events. Tenant or any guarantor or surety of Tenant’s obligations hereunder shall: (A) make a general assignment
for the benefit of creditors; (B) commence any case, proceeding or other action seeking to have an order for relief entered
on its behalf as a debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, liquidation,
dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or other similar official
for it or for all or of any substantial part of its property (collectively a “Proceeding for Relief”); (C) become
the subject of any Proceeding for Relief which is not dismissed within 90 days of its filing or entry; or (D) die or suffer
a legal disability (if Tenant, guarantor, or surety is an individual) or be dissolved or otherwise fail to maintain its legal existence
(if Tenant, guarantor or surety is a corporation, partnership or other entity).

 

    

    
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(g)             Estoppel
Certificate or Subordination Agreement. Tenant fails to execute any document required from Tenant under Sections 23
or 27 within 5 days after a second notice requesting such document.

 

(h)             Other
Defaults. Tenant shall fail to comply with any provision of this Lease other than those specifically referred to in this Section 20,
and, except as otherwise expressly provided herein, such failure shall continue for a period of 30 days after written notice thereof
from Landlord to Tenant.

 

Any notice given under Section 20(h) hereof
shall: (i) specify the alleged default, (ii) demand that Tenant cure such default, (iii) be in lieu of, and not
in addition to, or shall be deemed to be, any notice required under any provision of applicable law, and (iv) not be deemed
a forfeiture or a termination of this Lease unless Landlord elects otherwise in such notice; provided that if the nature
of Tenant’s default pursuant to Section 20(h) is such that it cannot be cured by the payment of money and
reasonably requires more than 30 days to cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within
said 30 day period and thereafter diligently prosecutes the same to completion; provided, however, that such cure
shall be completed no later than 90 days from the date of Landlord’s notice.

 

21.             Landlord’s
Remedies.

 

(a)             Payment
By Landlord; Interest. Upon a Default by Tenant hereunder, Landlord may, without waiving or releasing any obligation of Tenant
hereunder, make such payment or perform such act. All sums so paid or incurred by Landlord, together with interest thereon, from
the date such sums were paid or incurred, at the annual rate equal to 12% per annum or the highest rate permitted by law (the “Default
Rate”), whichever is less, shall be payable to Landlord on demand as Additional Rent. Nothing herein shall be construed
to create or impose a duty on Landlord to mitigate any damages resulting from Tenant’s Default hereunder.

 

(b)             Late
Payment Rent. Late payment by Tenant to Landlord of Rent and other sums due will cause Landlord to incur costs not contemplated
by this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such costs include, but are
not limited to, processing and accounting charges and late charges which may be imposed on Landlord under any Mortgage covering
the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the date such
payment is due, Tenant shall pay to Landlord an additional sum equal to 6% of the overdue Rent as a late charge. Notwithstanding
the foregoing, before assessing a late charge the first time in any calendar year, Landlord shall provide Tenant written notice
of the delinquency and will waive the right if Tenant pays such delinquency within 5 days thereafter. The parties agree that this
late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In
addition to the late charge, Rent not paid when due shall bear interest at the Default Rate from the 5th day after the date due
until paid.

 

(c)             Remedies.
Upon the occurrence of a Default, Landlord, at its option, without further notice or demand to Tenant, shall have in addition to
all other rights and remedies provided in this Lease, at law or in equity, the option to pursue any one or more of the following
remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever.

 

(i)             Terminate
this Lease, or at Landlord’s option, Tenant’s right to possession only, in which event Tenant shall immediately surrender
the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have for
possession or arrearages in rent, enter upon and take possession of the Premises and expel or remove Tenant and any other person
who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim for damages therefor;

 

    

    
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(ii)            Upon
any termination of this Lease, whether pursuant to the foregoing Section 21(c)(i) or otherwise, Landlord may recover
from Tenant the following:

 

(A)             The
worth at the time of award of any unpaid rent which has been earned at the time of such termination; plus

 

(B)             The
worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time
of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus

 

(C)             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 Tenant proves could have been reasonably avoided; plus

 

(D)             Any
other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its
obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, specifically including,
but not limited to, brokerage commissions and advertising expenses incurred, expenses of remodeling the Premises or any portion
thereof for a new tenant, whether for the same or a different use, and any special concessions made to obtain a new tenant; and

 

(E)             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 law.

 

The term “rent” as used
in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant
to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above,
the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above,
the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal
Reserve Bank of San Francisco at the time of award plus 1%.

 

(iii)            Landlord
may continue this Lease in effect after Tenant’s Default and recover rent as it becomes due (Landlord and Tenant hereby agreeing
that Tenant has the right to sublet or assign hereunder, subject only to reasonable limitations). Accordingly, if Landlord does
not elect to terminate this Lease following a Default by Tenant, Landlord may, from time to time, without terminating this Lease,
enforce all of its rights and remedies hereunder, including the right to recover all Rent as it becomes due.

 

(iv)            Whether
or not Landlord elects to terminate this Lease following a Default by Tenant, Landlord shall have the right to terminate any and
all subleases, licenses, concessions or other consensual arrangements for possession entered into by Tenant and affecting the Premises
or may, in Landlord’s sole discretion, succeed to Tenant’s interest in such subleases, licenses, concessions or arrangements.
Upon Landlord’s election to succeed to Tenant’s interest in any such subleases, licenses, concessions or arrangements,
Tenant shall, as of the date of notice by Landlord of such election, have no further right to or interest in the rent or other
consideration receivable thereunder.

 

    

    
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(v)            Independent
of the exercise of any other remedy of Landlord hereunder or under applicable law, Landlord may conduct an environmental test of
the Premises as generally described in Section 30(d) hereof, at Tenant’s expense.

 

(d)            Effect
of Exercise. Exercise by Landlord of any remedies hereunder or otherwise available shall not be deemed to be an acceptance
of surrender of the Premises and/or a termination of this Lease by Landlord, it being understood that such surrender and/or termination
can be effected only by the express written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary notwithstanding,
Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof;
and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance with same shall not be construed
as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having
modified the same and shall not be deemed a waiver of Landlord’s right to enforce one or more of its rights in connection
with any subsequent default. A receipt by Landlord of Rent or other payment with knowledge of the breach of any covenant hereof
shall not be deemed a waiver of such breach, and no waiver by Landlord of any provision of this Lease shall be deemed to have been
made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of
notice of Landlord’s intention to re-enter, re-take or otherwise obtain possession of the Premises as provided in any statute,
or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by
a judgment or by warrant of any court or judge. Any reletting of the Premises or any portion thereof shall be on such terms and
conditions as Landlord in its sole discretion may determine. Landlord shall not be liable for, nor shall Tenant’s obligations
hereunder be diminished because of, Landlord’s failure to relet the Premises or collect rent due in respect of such reletting
or otherwise to mitigate any damages arising by reason of Tenant’s Default.

 

22.            Assignment
and Subletting.

 

(a)            General
Prohibition. Without Landlord’s prior written consent subject to and on the conditions described in this Section 22
(including the terms and conditions set forth in Section 22(b)), Tenant shall not, directly or indirectly, voluntarily
or by operation of law, assign this Lease or sublease the Premises or any part thereof or mortgage, pledge, or hypothecate its
leasehold interest or grant any concession or license within the Premises, and any attempt to do any of the foregoing shall be
void and of no effect. If Tenant is a corporation, partnership or limited liability company, the shares or other ownership interests
thereof which are not actively traded upon a stock exchange or in the over-the-counter market, a transfer or series of transfers
whereby 25% or more of the issued and outstanding shares or other ownership interests of such corporation are, or voting control
is, transferred (but excepting transfers upon deaths of individual owners) from a person or persons or entity or entities which
were owners thereof at time of execution of this Lease to persons or entities who were not owners of shares or other ownership
interests of the corporation, partnership or limited liability company at time of execution of this Lease, shall be deemed an assignment
of this Lease requiring the consent of Landlord as provided in this Section 22. Notwithstanding the foregoing, any
public offering or sale of shares or other ownership interest in Tenant shall not be deemed an assignment.

 

    

    
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(b)             Permitted
Transfers. If Tenant desires to assign, sublease, hypothecate or otherwise transfer this Lease or sublet the Premises other
than pursuant to a Permitted Assignment (as defined below), then at least 15 business days, but not more than 45 business days,
before the date Tenant desires the assignment or sublease to be effective (the “Assignment Date”), Tenant shall
give Landlord a notice (the “Assignment Notice”) containing such information about the proposed assignee or
sublessee, including the proposed use of the Premises and any Hazardous Materials proposed to be used, stored handled, treated,
generated in or released or disposed of from the Premises, the Assignment Date, any relationship between Tenant and the proposed
assignee or sublessee, and all material terms and conditions of the proposed assignment or sublease, including a copy of any proposed
assignment or sublease in its final form, and such other information as Landlord may deem reasonably necessary or appropriate to
its consideration whether to grant its consent. Landlord may, by giving written notice to Tenant within 15 business days after
receipt of the Assignment Notice: (i) grant such consent (provided that Landlord shall further have the right to review and
approve or disapprove the proposed form of sublease prior to the effective date of any such subletting), (ii) refuse such
consent, in its reasonable discretion; or (iii) terminate this Lease with respect to the space described in the Assignment
Notice as of the Assignment Date (an “Assignment Termination”). Among other reasons, it shall be reasonable
for Landlord to withhold its consent in any of these instances:  (1) the proposed assignee or subtenant is a governmental
agency; (2) in Landlord’s reasonable good faith judgment, the use of the Premises by the proposed assignee or subtenant
would entail any alterations that would lessen the value of the leasehold improvements in the Premises, or would require increased
services by Landlord; (3) in Landlord’s reasonable good faith judgment, the proposed assignee or subtenant is engaged
in areas of scientific research or other business concerns that are controversial such that they may (i) attract or cause
negative publicity for or about the Building or the Project, (ii) negatively affect the reputation of the Building, the Project
or Landlord, (iii) attract protestors to the Building or the Project, or (iv) lessen the attractiveness of the Building
or the Project to any tenants or prospective tenants, purchasers or lenders; (4) in Landlord’s reasonable good faith
judgment, the proposed assignee or subtenant lacks the creditworthiness to support the financial obligations it will incur under
the proposed assignment or sublease; (5) in Landlord’s reasonable good faith judgment, the character, reputation, or
business of the proposed assignee or subtenant is inconsistent with the desired tenant-mix or the quality of other tenancies in
the Project or is inconsistent with the type and quality of the nature of the Building; (6) Landlord has experienced previous
defaults by or is in litigation with the proposed assignee or subtenant; (7) the use of the Premises by the proposed assignee
or subtenant will violate any applicable Legal Requirement; or (8) the assignment or sublease is prohibited by Landlord’s
lender. If Landlord delivers notice of its election to exercise an Assignment Termination, Tenant shall have the right to withdraw
such Assignment Notice by written notice to Landlord of such election within 5 business days after Landlord’s notice electing
to exercise the Assignment Termination. If Tenant withdraws such Assignment Notice, this Lease shall continue in full force and
effect. If Tenant does not withdraw such Assignment Notice, this Lease, and the term and estate herein granted, shall terminate
as of the Assignment Date with respect to the space described in such Assignment Notice. No failure of Landlord to exercise any
such option to terminate this Lease, or to deliver a timely notice in response to the Assignment Notice, shall be deemed to be
Landlord’s consent to the proposed assignment, sublease or other transfer. Tenant shall pay to Landlord a fee equal to Two
Thousand Five Hundred Dollars ($2,500) in connection with its consideration of any Assignment Notice and/or its preparation or
review of any consent documents. Notwithstanding the foregoing, Landlord’s consent to an assignment of this Lease or a subletting
of any portion of the Premises to any entity controlling, controlled by or under common control with Tenant (a “Control
Permitted Assignment”) shall not be required, provided that Tenant and any assignee or sublessee subject to a Control
Permitted Assignment shall execute an acknowledgment of assignment or acknowledgment of sublease, as applicable, on Landlord’s
standard, commercially reasonable form. In addition, Tenant shall have the right to assign this Lease, upon 10 business days prior
written notice to Landlord ((x) unless Tenant is prohibited from providing such notice by applicable Legal Requirements in
which case Tenant shall notify Landlord promptly thereafter, and (y) if the transaction is subject to confidentiality requirements,
Tenant’s advance notification shall be subject to Landlord’s execution of a non-disclosure agreement reasonably acceptable
to Landlord and Tenant) but without obtaining Landlord’s prior written consent, to a corporation or other entity which is
a successor-in-interest to Tenant, by way of merger, consolidation or corporate reorganization, or by the purchase of all or substantially
all of the assets or the ownership interests of Tenant provided that (i) such merger or consolidation, or such acquisition
or assumption, as the case may be, is for a good business purpose and not principally for the purpose of transferring this Lease,
and (ii) the net worth (as determined in accordance with generally accepted accounting principles (“GAAP”))
of the assignee is not less than the greater of the net worth (as determined in accordance with GAAP) of Tenant as of (A) the
Commencement Date, or (B) as of the date of Tenant’s most current quarterly or annual financial statements, and (iii) such
assignee shall agree in writing to assume all of the terms, covenants and conditions of this Lease (a “Corporate Permitted
Assignment”). Control Permitted Assignments and Corporate Permitted Assignments are hereinafter referred to as “Permitted
Assignments.”

 

    

    
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(c)            Additional
Conditions. As a condition to any such assignment or subletting, whether or not Landlord’s consent is required, Landlord
may require:

 

(i)             that
any assignee or subtenant agree, in writing at the time of such assignment or subletting, that if Landlord gives such party notice
that Tenant is in default under this Lease, such party shall thereafter make all payments otherwise due Tenant directly to Landlord,
which payments will be received by Landlord without any liability except to credit such payment against those due under this Lease,
and any such third party shall agree to attorn to Landlord or its successors and assigns should this Lease be terminated for any
reason; provided, however, in no event shall Landlord or its successors or assigns be obligated to accept such attornment;
and

 

(ii)             A
list of Hazardous Materials, certified by the proposed assignee or sublessee to be true and correct, which the proposed assignee
or sublessee intends to use, store, handle, treat, generate in or release or dispose of from the Premises, together with copies
of all documents relating to such use, storage, handling, treatment, generation, release or disposal of Hazardous Materials by
the proposed assignee or subtenant in the Premises or on the Project, prior to the proposed assignment or subletting, including,
without limitation: permits; approvals; reports and correspondence; storage and management plans; plans relating to the installation
of any storage tanks to be installed in or under the Project (provided, said installation of tanks shall only be permitted after
Landlord has given its written consent to do so, which consent may be withheld in Landlord’s sole and absolute discretion);
and all closure plans or any other documents required by any and all federal, state and local Governmental Authorities for any
storage tanks installed in, on or under the Project for the closure of any such tanks. Neither Tenant nor any such proposed assignee
or subtenant is required, however, to provide Landlord with any portion(s) of the such documents containing information of
a proprietary nature which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous activities.

 

(d)            No
Release of Tenant, Sharing of Excess Rents. Notwithstanding any assignment or subletting, Tenant and any guarantor or surety
of Tenant’s obligations under this Lease shall at all times remain fully and primarily responsible and liable for the payment
of Rent and for compliance with all of Tenant’s other obligations under this Lease. Other than in connection with Permitted
Assignments, if the rent due and payable by a sublessee or assignee (or a combination of the rental payable under such sublease
or assignment plus any bonus or other consideration therefor or incident thereto in any form) exceeds the sum of Base Rent and
Operating Expenses payable under this Lease plus actual and reasonable brokerage fees, legal costs and any design or construction
fees directly related to and required pursuant to the terms of any such sublease (“Excess Rent”), then Tenant
shall be bound and obligated to pay Landlord as Additional Rent hereunder 50% of such Excess Rent within 10 days following receipt
thereof by Tenant. If Tenant shall sublet the Premises or any part 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 Landlord as assignee
and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s application, may collect such rent and
apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of a Default, Tenant shall have
the right to collect such rent.

 

(e)            No
Waiver. The consent by Landlord to an assignment or subletting shall not relieve Tenant or any assignees of this Lease or any
sublessees of the Premises from obtaining the consent of Landlord to any further assignment or subletting nor shall it release
Tenant or any assignee or sublessee of Tenant from full and primary liability under this Lease. The acceptance of Rent hereunder,
or the acceptance of performance of any other term, covenant, or condition thereof, from any other person or entity shall not be
deemed to be a waiver of any of the provisions of this Lease or a consent to any subletting, assignment or other transfer of the
Premises.

 

(f)             Prior
Conduct of Proposed Transferee. Notwithstanding any other provision of this Section 22, if (i) the proposed
assignee or sublessee of Tenant has been required by any prior landlord, lender or Governmental Authority to take remedial action
in connection with Hazardous Materials contaminating a property, where the contamination resulted from such party’s action
or use of the property in question, (ii) the proposed assignee or sublessee is subject to an enforcement order issued by any
Governmental Authority in connection with the use, storage, handling, treatment, generation, release or disposal of Hazardous Materials
(including, without limitation, any order related to the failure to make a required reporting to any Governmental Authority), or
(iii) because of the existence of a pre-existing environmental condition in the vicinity of or underlying the Project, the
risk that Landlord would be targeted as a responsible party in connection with the remediation of such pre-existing environmental
condition would be materially increased or exacerbated by the proposed use of Hazardous Materials by such proposed assignee or
sublessee, Landlord shall have the absolute right to refuse to consent to any assignment or subletting to any such party.

 

    

    
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23.             Estoppel
Certificate. Tenant shall, within 10 business days of written notice from Landlord, execute, acknowledge and deliver a statement
in writing in any form reasonably requested by a proposed lender or purchaser, (i) 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 the rental and other charges are paid in advance, if any, (ii) acknowledging
that there are not any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any are claimed, and
(iii) setting forth such further information with respect to the status of 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 time shall, at the option of Landlord,
constitute a Default under this Lease, and, in any event, shall be conclusive upon Tenant that this 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.

 

24.             Quiet
Enjoyment. So long as Tenant is not in Default under this Lease, Tenant shall, subject to the terms of this Lease, at all times
during the Term, have peaceful and quiet enjoyment of the Premises against any person claiming by, through or under Landlord.

 

25.             Prorations.
All prorations required or permitted to be made hereunder shall be made on the basis of a 365 day year and the actual number of
days in the relevant months.

 

26.             Rules and
Regulations. Tenant shall, at all times during the Term and any extension thereof, comply with all reasonable rules and
regulations at any time or from time to time established by Landlord covering use of the Premises and the Project. Such rules and
regulations may include, without limitation, rules and regulations which are intended to encourage social distancing, promote
and protect health and physical well-being within the Building and the Project and/or intended to limit the spread of Infectious
Conditions. The current rules and regulations are attached hereto as Exhibit E. If there is any conflict between
said rules and regulations and other provisions of this Lease, the terms and provisions of this Lease shall control. Landlord
shall not have any liability or obligation for the breach of any rules or regulations by other tenants in the Project and
shall not enforce such rules and regulations in a discriminatory manner.

 

27.             Subordination.
This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and subordinate at all times to
the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements,
renewals, modifications, consolidations, refinancing, assignments and extensions thereof, without the necessity of any further
instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s
right to possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of
the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such
instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided
any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as
set forth in Section 24 hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage
to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to
such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall
have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording
of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall
be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the “Holder”
of a Mortgage shall be deemed to include the beneficiary under a deed of trust.

 

    

    
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28.             Surrender.
Upon the expiration of the Term or earlier termination of Tenant’s right of possession, Tenant shall surrender the Premises
to Landlord in the condition following the Substantial Completion of the Tenant Improvements, subject to any Alterations or Installations
permitted by Landlord to remain in the Premises, free of Hazardous Materials brought upon, kept, used, stored, handled, treated,
generated in, or released or disposed of from, the Premises by any person other than a Landlord Party (collectively, “Tenant
HazMat Operations”) and released of all Hazardous Materials Clearances, broom clean, ordinary wear and tear and casualty
loss and condemnation covered by Sections 18 and 19 excepted. At least 3 months prior to the surrender of the
Premises or such earlier date as Tenant may elect to cease operations at 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 (including any Installations permitted by Landlord to remain in the Premises) at the expiration or earlier termination
of the Term, free from any residual impact from the Tenant HazMat Operations and otherwise released for unrestricted use and occupancy
(the “Decommissioning and HazMat Closure Plan”). Such Decommissioning and HazMat Closure Plan shall be accompanied
by a current listing of (i) all Hazardous Materials licenses and permits held by or on behalf of any Tenant Party 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 reasonable review and approval of Landlord’s environmental consultant. In connection
with the review and approval of the Decommissioning and HazMat Closure Plan, upon the request of Landlord, Tenant shall deliver
to Landlord or its consultant such additional non-proprietary information concerning Tenant HazMat Operations as Landlord shall
reasonably request. On or before such surrender, Tenant shall deliver to Landlord evidence that the approved Decommissioning and
HazMat Closure Plan shall have been satisfactorily completed and Landlord shall have the right, subject to reimbursement at Tenant’s
expense as set forth below, 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 this Lease, free from any residual impact from Tenant HazMat Operations. Tenant shall reimburse Landlord,
as Additional Rent, for the actual out-of-pocket expense incurred by Landlord for Landlord’s environmental consultant to
review and approve the Decommissioning and HazMat Closure Plan and to visit the Premises and verify satisfactory completion of
the same, which cost shall not exceed $2,500. Landlord shall have the unrestricted right to deliver such Decommissioning and HazMat
Closure 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 Decommissioning and HazMat Closure Plan approved by Landlord, or if Tenant shall fail to complete the approved
Decommissioning and HazMat Closure Plan, or if such Decommissioning and HazMat Closure Plan, whether or not approved by Landlord,
shall fail to adequately address any residual effect of Tenant HazMat Operations in, on or about the Premises, Landlord shall have
the right to take such actions as Landlord may deem reasonable or appropriate to assure that the Premises and the Project are surrendered
free from any residual impact from Tenant HazMat Operations, the cost of which actions shall be reimbursed by Tenant as Additional
Rent, without regard to the limitation set forth in the first paragraph of this Section 28.

 

Tenant shall immediately
return to Landlord all keys and/or access cards to parking, the Project, restrooms or all or any portion of the Premises furnished
to or otherwise procured by Tenant. If any such access card or key is lost, Tenant shall pay to Landlord, at Landlord’s election,
either the cost of replacing such lost access card or key or the cost of reprogramming the access security system in which such
access card was used or changing the lock or locks opened by such lost key. Any Tenant’s Property, Alterations and property
not so removed by Tenant as permitted or required herein shall be deemed abandoned and may be stored, removed, and disposed of
by Landlord at Tenant’s expense, and Tenant waives all claims against Landlord for any damages resulting from Landlord’s
retention and/or disposition of such property. All obligations of Tenant hereunder not fully performed as of the termination of
the Term, including the obligations of Tenant under Section 30 hereof, shall survive the expiration or earlier termination
of the Term, including, without limitation, indemnity obligations, payment obligations with respect to Rent and obligations concerning
the condition and repair of the Premises.

 

    

    
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29.             Waiver
of Jury Trial. TO THE EXTENT PERMITTED BY LAW, TENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL BY JURY OR TO HAVE A JURY PARTICIPATE
IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING OUT OF THIS LEASE
OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO.

 

30.             Environmental
Requirements.

 

(a)             Prohibition/Compliance/Indemnity.
Tenant shall not cause or permit any Hazardous Materials (as hereinafter defined) to be brought upon, kept, used, stored, handled,
treated, generated in or about, or released or disposed of from, the Premises or the Project in violation of applicable Environmental
Requirements (as hereinafter defined) by Tenant or any Tenant Party. If Tenant breaches the obligation stated in the preceding
sentence, or if the presence of Hazardous Materials in the Premises during the Term or any holding over results in contamination
of the Premises, the Project or any adjacent property or if contamination of the Premises, the Project or any adjacent property
by Hazardous Materials brought into, kept, used, stored, handled, treated, generated in or about, or released or disposed of from,
the Premises by anyone other than Landlord and Landlord’s employees, agents and contractors otherwise occurs during the Term
or any holding over, Tenant hereby indemnifies and shall defend and hold Landlord, its officers, directors, employees, agents and
contractors harmless from any and all actions (including, without limitation, remedial or enforcement actions of any kind, administrative
or judicial proceedings, and orders or judgments arising out of or resulting therefrom), costs, claims, damages (including, without
limitation, punitive damages and damages based upon diminution in value of the Premises or the Project, or the loss of, or restriction
on, use of the Premises or any portion of the Project), expenses (including, without limitation, attorneys’, consultants’
and experts’ fees, court costs and amounts paid in settlement of any claims or actions), fines, forfeitures or other civil,
administrative or criminal penalties, injunctive or other relief (whether or not based upon personal injury, property damage, or
contamination of, or adverse effects upon, the environment, water tables or natural resources), liabilities or losses (collectively,
 “Environmental Claims”) which arise during or after the Term as a result of such contamination. This indemnification
of Landlord by Tenant includes, without limitation, costs incurred in connection with any investigation of site conditions or any
cleanup, treatment, remedial, removal, or restoration work required by any federal, state or local Governmental Authority because
of Hazardous Materials present in the air, soil or ground water above, on, or under the Premises. Without limiting the foregoing,
if the presence of any Hazardous Materials on the Premises, the Building, the Project or any adjacent property caused or permitted
by Tenant or any Tenant Party results in any contamination of the Premises, the Building, the Project or any adjacent property,
Tenant shall promptly take all actions at its sole expense and in accordance with applicable Environmental Requirements as are
necessary to return the Premises, the Building, the Project or any adjacent property to the condition existing prior to the time
of such contamination, provided that Landlord’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, the Building or the Project. Notwithstanding anything to the contrary contained in Section 28 or this
Section 30, Tenant shall not be responsible for or have any liability to Landlord, and the indemnification and hold
harmless obligation set forth in this paragraph shall not apply to (i) contamination in the Premises or the Project which
Tenant can prove existed in the Premises or the Project immediately prior to the Commencement Date, (ii) the presence of any
Hazardous Materials in the Premises or the Project which Tenant can prove migrated from outside of the Premises or the Project,
as applicable, into the Premises or the Project, as applicable, or (iii) contamination caused by Landlord or any Landlord’s
employees, agents and contractors, unless in any case, the presence of such Hazardous Materials (x) is the result of a breach
by Tenant of any of its obligations under this Lease, or (y) was caused, contributed to or exacerbated by Tenant or any Tenant
Party.

 

    

    
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(b)             Business.
Landlord acknowledges that it is not the intent of this Section 30 to prohibit Tenant from using the Premises for the
Permitted Use. Tenant may operate its business according to prudent industry practices so long as the use or presence of Hazardous
Materials is strictly and properly monitored according to all then applicable Environmental Requirements. As a material inducement
to Landlord to allow Tenant to use Hazardous Materials in connection with its business, Tenant agrees to deliver to Landlord prior
to the Commencement Date a list identifying each type of Hazardous Materials to be brought upon, kept, used, stored, handled, treated,
generated on, or released or disposed of from, the Premises and setting forth any and all governmental approvals or permits required
in connection with the presence, use, storage, handling, treatment, generation, release or disposal of such Hazardous Materials
on or from the Premises (“Hazardous Materials List”). Upon Landlord’s request (not more than once per
year), or any time that Tenant is required to deliver a Hazardous Materials List to any Governmental Authority (e.g., the fire
department) in connection with Tenant’s use or occupancy of the Premises, Tenant shall deliver to Landlord a copy of such
Hazardous Materials List. Tenant shall deliver to Landlord true and correct copies of the following documents (the “Haz
Mat Documents”) relating to the use, storage, handling, treatment, generation, release or disposal of Hazardous Materials
prior to the Commencement Date, or if unavailable at that time, concurrent with the receipt from or submission to a Governmental
Authority: permits; approvals; reports and correspondence; storage and management plans, notice of violations of any Legal Requirements;
plans relating to the installation of any storage tanks to be installed in or under the Project (provided, said installation of
tanks shall only be permitted after Landlord has given Tenant its written consent to do so, which consent may be withheld in Landlord’s
sole and absolute discretion); all closure plans or any other documents required by any and all federal, state and local Governmental
Authorities for any storage tanks installed in, on or under the Project for the closure of any such tanks; and a Decommissioning
and HazMat Closure Plan (to the extent surrender in accordance with Section 28 cannot be accomplished in 3 months).
Tenant is not required, however, to provide Landlord with any portion(s) of the Haz Mat Documents containing information of
a proprietary nature which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous activities.
It is not the intent of this Section to provide Landlord with information which could be detrimental to Tenant’s business
should such information become possessed by Tenant’s competitors.

 

(c)             Tenant
Representation and Warranty. Tenant hereby represents and warrants to Landlord that (i) neither Tenant nor any of its
legal predecessors has been required by any prior landlord, lender or Governmental Authority at any time to take remedial action
in connection with Hazardous Materials contaminating a property which contamination was permitted by Tenant of such predecessor
or resulted from Tenant’s or such predecessor’s action or use of the property in question, and (ii) Tenant is
not subject to any enforcement order issued by any Governmental Authority in connection with the use, storage, handling, treatment,
generation, release or disposal of Hazardous Materials (including, without limitation, any order related to the failure to make
a required reporting to any Governmental Authority). If Landlord determines that this representation and warranty was not true
as of the date of this lease, Landlord shall have the right to terminate this Lease in Landlord’s sole and absolute discretion.

 

(d)             Testing.
Landlord shall have the right to conduct annual tests of the Premises to determine whether any contamination of the Premises or
the Project has occurred as a result of Tenant’s use. Tenant shall be required to pay the cost of such annual test of the
Premises if there is violation of this Section 30 or if contamination for which Tenant is responsible under this Section 30
is identified; provided, however, that if Tenant conducts its own tests of the Premises using third party contractors and test
procedures acceptable to Landlord which tests are certified to Landlord, Landlord shall accept such tests in lieu of the annual
tests to be paid for by Tenant. In addition, at any time, and from time to time, prior to the expiration or earlier termination
of the Term, Landlord shall have the right to conduct appropriate tests of the Premises and the Project to determine if contamination
has occurred as a result of Tenant’s use of the Premises. In connection with such testing, upon the request of Landlord,
Tenant shall deliver to Landlord or its consultant such non-proprietary information concerning the use of Hazardous Materials in
or about the Premises by Tenant or any Tenant Party. If contamination has occurred for which Tenant is liable under this Section 30,
Tenant shall pay all costs to conduct such tests. If no such contamination is found, Landlord shall pay the costs of such tests
(which shall not constitute an Operating Expense). Landlord shall provide Tenant with a copy of all third party, non-confidential
reports and tests of the Premises made by or on behalf of Landlord during the Term without representation or warranty and subject
to a confidentiality agreement. Tenant shall, at its sole cost and expense, promptly and satisfactorily remediate any environmental
conditions identified by such testing for which Tenant is responsible under this Lease in accordance with all Environmental Requirements.
Landlord’s receipt of or satisfaction with any environmental assessment in no way waives any rights which Landlord may have
against Tenant.

 

    

    
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(e)             Control
Areas. Tenant shall be allowed to utilize up to its pro rata share of the Hazardous Materials inventory within any control
area or zone (located within the Premises), as designated by the applicable building code, for chemical use or storage. As used
in the preceding sentence, Tenant’s pro rata share of any control areas or zones located within the Premises shall be determined
based on the rentable square footage that Tenant leases within the applicable control area or zone. For purposes of example only,
if a control area or zone contains 10,000 rentable square feet and 2,000 rentable square feet of a tenant’s premises are
located within such control area or zone (while such premises as a whole contains 5,000 rentable square feet), the applicable tenant’s
pro rata share of such control area would be 20%.

 

(f)             Underground
Tanks. Tenant shall have no right to use or install any underground or other storage tanks at the Project.

 

(g)             Tenant’s
Obligations. Tenant’s obligations under this Section 30 shall survive the expiration or earlier termination
of this Lease. During any period of time after the expiration or earlier termination of this Lease required by Tenant or Landlord
to complete the removal from the Premises of any Hazardous Materials (including, without limitation, the release and termination
of any licenses or permits restricting the use of the Premises and the completion of the approved Decommissioning and HazMat Closure
Plan), Tenant shall continue to pay the full Rent in accordance with this Lease for any portion of the Premises not relet by Landlord
in Landlord’s sole discretion, which Rent shall be prorated daily.

 

(h)             Definitions.
As used herein, the term “Environmental Requirements” means all applicable present and future statutes, regulations,
ordinances, rules, codes, judgments, orders or other similar enactments of any Governmental Authority regulating or relating to
health, safety, or environmental conditions on, under, or about the Premises or the Project, or the environment, including without
limitation, the following: the Comprehensive Environmental Response, Compensation and Liability Act; the Resource Conservation
and Recovery Act; and all state and local counterparts thereto, and any regulations or policies promulgated or issued thereunder.
As used herein, the term “Hazardous Materials” means and includes any substance, material, waste, pollutant,
or contaminant listed or defined as hazardous or toxic, or regulated by reason of its impact or potential impact on humans, animals
and/or the environment under any Environmental Requirements, asbestos and petroleum, including crude oil or any fraction thereof,
natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel (or mixtures of natural gas and such synthetic gas).
As defined in Environmental Requirements, Tenant is and shall be deemed to be the “operator” of Tenant’s
 “facility” and the “owner” of all Hazardous Materials brought on the Premises by Tenant or
any Tenant Party, and the wastes, by-products, or residues generated, resulting, or produced therefrom.

 

31.             Tenant’s
Remedies/Limitation of Liability. Landlord shall not be in default hereunder unless Landlord fails to perform any of its obligations
hereunder within 30 days after written notice from Tenant specifying such failure (unless such performance will, due to the nature
of the obligation, require a period of time in excess of 30 days, then after such period of time as is reasonably necessary so
long as Landlord commences performance within said 30 day period and thereafter diligently prosecutes the same to completion).
Upon any default by Landlord, Tenant shall give notice by registered or certified mail to any Holder of a Mortgage covering the
Premises and to any landlord of any lease of property in or on which the Premises are located and Tenant shall offer such Holder
and/or landlord a reasonable opportunity to cure the default, including time to obtain possession of the Project by power of sale
or a judicial action if such should prove necessary to effect a cure; provided Landlord shall have furnished to Tenant in
writing the names and addresses of all such persons who are to receive such notices. All obligations of Landlord hereunder shall
be construed as covenants, not conditions; and, except as may be otherwise expressly provided in this Lease, Tenant may not terminate
this Lease for breach of Landlord’s obligations hereunder.

 

    

    
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Notwithstanding the
foregoing, if any claimed Landlord default hereunder will immediately, materially and adversely affect Tenant’s ability to
conduct its business in the Premises (a “Material Landlord Default”), Tenant shall, as soon as reasonably possible,
but in any event within 2 business days of obtaining knowledge of such claimed Material Landlord Default, give Landlord written
notice of such claim which notice shall specifically state that a Material Landlord Default exists and telephonic notice to Tenant’s
principal contact with Landlord. Landlord shall then have 2 business days to commence cure of such claimed Material Landlord Default
and shall diligently prosecute such cure to completion. If such claimed Material Landlord Default is not a default by Landlord
hereunder, Landlord shall be entitled to recover from Tenant, as Additional Rent, any costs incurred by Landlord in connection
with such cure in excess of the costs, if any, that Landlord would otherwise have been liable to pay hereunder. If Landlord fails
to commence cure of any claimed Material Landlord Default as provided above, Tenant may commence and prosecute such cure to completion
provided that it does not affect any Building Systems affecting other tenants, the Building structure or Common Areas, and shall
be entitled to recover the costs of such cure that would have not otherwise been payable as part of Operating Expenses (but not
any consequential or other damages) from Landlord by way of reimbursement from Landlord with no right to offset against Rent, to
the extent of Landlord’s obligation to cure such claimed Material Landlord Default hereunder, subject to the limitations
set forth in this Lease. Landlord shall have the right not to reimburse Tenant as provided for in the preceding sentence and instead
dispute Tenant’s entitlement to reimbursement, Tenant’s right to perform such repairs and/or maintenance and/or the
amount being requested by Tenant. If Landlord elects, in the exercise of its good faith reasonable discretion, to dispute any of
the foregoing matters, Landlord shall notify Tenant in writing of the nature of such dispute within 30 days after receipt of Tenant’s
written request for reimbursement. Landlord and Tenant shall meet and discuss the dispute and if Landlord and Tenant fail to reach
a resolution of the dispute within 15 days after their meeting, the dispute shall be resolved by arbitration by a single arbitrator
with the qualifications and experience appropriate to resolve the matter and appointed pursuant to and acting in accordance with
the rules of the American Arbitration Association. If the arbitrator decides in favor of Tenant, then Landlord shall promptly
pay the amount of any award to Tenant. If either party is determined by the arbitrator to be the prevailing party, then such party
shall be entitled to have its reasonable attorneys’ fees and costs in connection with such arbitration paid by the other
party. If Landlord has not paid to Tenant in full the amount of any such award plus any attorneys’ fees and costs awarded
by the arbitrator within 30 days of the date of the arbitrator’s decision, and so long as Tenant is not in Default under
this Lease, then Tenant shall have the right to set off against the next monthly payments of Base Rent the amount of the award.

 

All obligations of
Landlord under this Lease will be binding upon Landlord only during the period of its ownership of the Premises and not thereafter.
The term “Landlord” in this Lease shall mean only the owner for the time being of the Premises. Upon the transfer
by such owner of its interest in the Premises and the assumption by the new owner of such owner’s obligations under this
Lease thereafter accruing, such owner shall thereupon be released and discharged from all obligations of Landlord thereafter accruing,
but such obligations shall be binding during the Term upon teach new owner for the duration of such owner’s ownership of
the Premises.

 

32.            Inspection
and Access. Landlord and its agents, representatives, and contractors may enter the Premises at any reasonable time to inspect
the Premises and to make such repairs as may be required or permitted pursuant to this Lease and for any other business purpose.
Landlord and Landlord’s representatives may enter the Premises, subject to the final sentence of this paragraph, during business
hours on not less than 48 hours advance written notice (except in the case of emergencies in which case no such notice shall be
required and such entry may be at any time) for the purpose of effecting any such repairs, inspecting the Premises, showing the
Premises to prospective purchasers and, during the last 12 months of the Term, to prospective tenants or for any other business
purpose. Landlord may erect a suitable sign on the Premises stating the Premises are available to let or that the Project is available
for sale. Landlord may grant easements, make public dedications, designate Common Areas and create restrictions on or about the
Premises, provided that no such easement, dedication, designation or restriction materially, adversely affects Tenant’s
use or occupancy of the Premises for the Permitted Use. At Landlord’s request, Tenant shall execute such instruments as may
be necessary for such easements, dedications or restrictions. Tenant shall at all times, except in the case of emergencies, have
the right to escort Landlord or its agents, representatives, contractors or guests while the same are in the Premises, provided
such escort does not materially and adversely affect Landlord’s access rights hereunder.

 

    

    
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Notwithstanding anything
to the contrary set forth in this Section 32, Tenant may reasonably designate in writing certain areas within the Premises
as “Secured Areas” should Tenant require such areas for the purpose of securing certain valuable property, sensitive
testing in connection with the Permitted Use or confidential information, or technical operations centers or systems critical to
the operations of Tenant’s business in the Premises. In connection with the foregoing, neither Landlord nor any Landlord
Party shall enter such Secured Areas, except in the case of an emergency. Landlord need not clean any area designated by Tenant
as a Secured Area and shall only maintain or repair such secured areas to the extent (a) of any maintenance of the Building
or Building Systems for which Landlord is responsible under Section 13, (b) as required by Legal Requirements,
or (c) in response to specific requests by Tenant and in accordance with a schedule reasonably designated by Tenant, subject
to Landlord’s reasonable approval.

 

Landlord and Landlord’s
employees agree to (and shall require that its agents, representatives, contractors and guests use reasonable efforts to) comply
with Tenant’s written security programs and confidentiality requirements in connection with the entry into the Premises (including
the Secured Areas) by Landlord and/or Landlord’s employees, agents, representatives, contractors or guests, so long as a
copy of the same has previously been provided to Landlord.

 

33.          Security.
Tenant acknowledges and agrees that security devices and services, if any, while intended to deter crime may not in given instances
prevent theft or other criminal acts and that Landlord is not providing any security services with respect to the Premises. Tenant
agrees that Landlord shall not be liable to Tenant for, and Tenant waives any claim against Landlord with respect to, any loss
by theft or any other damage suffered or incurred by Tenant in connection with any unauthorized entry into the Premises or any
other breach of security with respect to the Premises. Tenant shall be solely responsible for the personal safety of Tenant’s
officers, employees, agents, contractors, guests and invitees while any such person is in, on or about the Premises and/or the
Project. Tenant shall at Tenant’s cost obtain insurance coverage to the extent Tenant desires protection against such criminal
acts.

 

Subject to the terms
of this Lease, including, without limitation, Tenant’s compliance with Section 12, Tenant, at Tenant’s
sole cost and expense, shall have the right to install and maintain a Building access control system for the Premises, or security
system serving the Premises (“Tenant’s Security System”), subject to the following conditions: (i) Tenant’s
plans and specifications for the proposed location of Tenant’s Security System and Tenant’s protocol for the operation
of Tenant’s Security System shall be subject to Landlord’s prior written approval, which approval will not be unreasonably
withheld; provided, however, that Tenant shall coordinate the installation and operation of Tenant’s Security System with
Landlord to assure that Tenant’s Security System may be compatible with the Building’s systems and equipment and Tenant
does not violate the reasonable privacy rights of any other occupants of the Project; (ii) Landlord shall be provided codes
and/or access cards, as applicable, and means of immediate access to fully exercise all of its entry rights under this Lease with
respect to the Premises; and (iii) Tenant shall be solely responsible, at Tenant’s sole cost and expense, for the monitoring,
operation and removal of Tenant’s Security System. Upon the expiration or earlier termination of this Lease, unless otherwise
approved by Landlord, Tenant shall remove Tenant’s Security System. All costs and expenses associated with the removal of
Tenant’s Security System and the repair of any damage to the Premises and the Building resulting from the installation and/or
removal of same shall be borne solely by Tenant.

 

    

    
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34.             Force
Majeure. Except for the payment of Rent, neither Landlord nor Tenant shall be held responsible or liable for delays in the
performance of its obligations hereunder when caused by, related to, or arising out of acts of God, sinkholes or subsidence, strikes,
lockouts, or other labor disputes, embargoes, quarantines, weather, national, regional, or local disasters, calamities, or catastrophes,
inability to obtain labor or materials (or reasonable substitutes therefor) at reasonable costs or failure of, or inability to
obtain, utilities necessary for performance, governmental restrictions, orders, limitations, regulations, or controls, national
emergencies, local, regional or national epidemic or pandemic, delay in issuance or revocation of permits, enemy or hostile governmental
action, terrorism, insurrection, riots, civil disturbance or commotion, fire or other casualty, and other causes or events beyond
their reasonable control (“Force Majeure”).

 

35.             Brokers.
Landlord and Tenant each represents and warrants that it has not dealt with any broker, agent or other person (collectively, “Broker”)
in connection with this transaction and that no Broker brought about this transaction, other than Jones Lang LaSalle and Newmark
Cornish & Carey. Landlord and Tenant each hereby agree to indemnify and hold the other harmless from and against any claims
by any Broker, other than Jones Lang LaSalle and Newmark Cornish & Carey, claiming a commission or other form of compensation
by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction.

 

36.             Limitation
on Landlord’s Liability. NOTWITHSTANDING ANYTHING SET FORTH HEREIN OR IN ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT
TO THE CONTRARY: (A) LANDLORD SHALL NOT BE LIABLE TO TENANT OR ANY OTHER PERSON FOR (AND TENANT AND EACH SUCH OTHER PERSON
ASSUME ALL RISK OF) LOSS, DAMAGE OR INJURY, WHETHER ACTUAL OR CONSEQUENTIAL TO: TENANT’S PERSONAL PROPERTY OF EVERY KIND
AND DESCRIPTION, INCLUDING, WITHOUT LIMITATION TRADE FIXTURES, EQUIPMENT, INVENTORY, SCIENTIFIC RESEARCH, SCIENTIFIC
EXPERIMENTS, LABORATORY ANIMALS, PRODUCT, SPECIMENS, SAMPLES, AND/OR SCIENTIFIC, BUSINESS, ACCOUNTING AND OTHER RECORDS OF EVERY
KIND AND DESCRIPTION KEPT AT THE PREMISES AND ANY AND ALL INCOME DERIVED OR DERIVABLE THEREFROM; (B) THERE SHALL BE NO PERSONAL
RECOURSE TO LANDLORD FOR ANY ACT OR OCCURRENCE IN, ON OR ABOUT THE PREMISES OR ARISING IN ANY WAY UNDER THIS LEASE OR ANY OTHER
AGREEMENT BETWEEN LANDLORD AND TENANT WITH RESPECT TO THE SUBJECT MATTER HEREOF AND ANY LIABILITY OF LANDLORD HEREUNDER SHALL BE
STRICTLY LIMITED SOLELY TO LANDLORD’S INTEREST IN THE PROJECT OR ANY PROCEEDS FROM SALE OR CONDEMNATION THEREOF AND ANY INSURANCE
PROCEEDS PAYABLE IN RESPECT OF LANDLORD’S INTEREST IN THE PROJECT OR IN CONNECTION WITH ANY SUCH LOSS; AND (C) IN NO
EVENT SHALL ANY PERSONAL LIABILITY BE ASSERTED AGAINST LANDLORD IN CONNECTION WITH THIS LEASE NOR SHALL ANY RECOURSE BE HAD TO
ANY OTHER PROPERTY OR ASSETS OF LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS. UNDER
NO CIRCUMSTANCES SHALL LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS BE LIABLE FOR
INJURY TO TENANT’S BUSINESS OR FOR ANY LOSS OF INCOME OR PROFIT THEREFROM.

 

Tenant acknowledges
and agrees that measures and/or services implemented at the Project, if any, intended to encourage social distancing, promote and
protect health and physical well-being and/or intended to limit the spread of Infectious Conditions, may not prevent the spread
of such Infectious Conditions. Neither Landlord nor any Landlord Indemnified Parties shall have any liability and Tenant waives
any claims against Landlord and the Landlord Indemnified Parties with respect to any loss, damage or injury in connection with
(x) the implementation, or failure of Landlord or any Landlord Indemnified Parties to implement, any measures and/or services
at the Project intended to encourage social distancing, promote and protect health and physical well-being and/or intended to limit
the spread of Infectious Conditions, or (y) the failure of any measures and/or services implemented at the Project, if any,
to limit the spread of any Infections Conditions.

 

    

    
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37.             Severability.
If any clause or provision of this Lease is illegal, invalid or unenforceable under present or future laws, then and in that event,
it is the intention of the parties hereto that the remainder of this Lease shall not be affected thereby. It is also the intention
of the parties to this Lease that in lieu of each clause or provision of this Lease that is illegal, invalid or unenforceable,
there be added, as a part of this Lease, a clause or provision as similar in effect to such illegal, invalid or unenforceable clause
or provision as shall be legal, valid and enforceable.

 

38.             Signs;
Exterior Appearance. Tenant shall not, without the prior written consent of Landlord, which may be granted or withheld in Landlord’s
reasonable discretion: (i) attach any awnings, exterior lights, decorations, balloons, flags, pennants, banners, painting
or other projection to any outside wall of the Project, (ii) use any curtains, blinds, shades or screens other than Landlord’s
standard window coverings, (iii) coat or otherwise sunscreen the interior or exterior of any windows, (iv) place any
bottles, parcels, or other articles on the window sills, (v) place any equipment, furniture or other items of personal property
on any exterior balcony, or (vi) paint, affix or exhibit on any part of the Premises or the Project any signs, notices, window
or door lettering, placards, decorations, or advertising media of any type which can be viewed from the exterior of the Premises.
Suite entry signage and signage on the directory tablet shall be inscribed, painted or affixed for Tenant by Landlord at the
sole cost and expense of Landlord, and shall be of a size, color and type acceptable to Landlord. Nothing may be placed on the
exterior of corridor walls or corridor doors other than Landlord’s standard lettering. The directory tablet shall be provided
exclusively for the display of the name and location of tenants.

 

Tenant shall also have
the non-exclusive right to display, at Tenant’s cost and expense, a sign bearing Tenant’s name and/or logo at a location
on the Building top designated by Landlord (“Building Sign”) as described on Exhibit G. Tenant shall
be entitled to its pro-rata share of available Building top signage. Notwithstanding the foregoing, Tenant acknowledges and agrees
that Tenant’s name signage on the Building Sign including, without limitation, the size, color and type, shall be subject
to Landlord’s prior written approval and shall be consistent with Landlord’s signage program at the Project and applicable
Legal Requirements. Tenant shall be responsible, at Tenant’s sole cost and expense, for the installation, design, permitting,
fabrication and maintenance of Tenant’s Building Sign, for the removal of Tenant’s Building Sign at the expiration
or earlier termination of this Lease and for the repair all damage resulting from such removal.

 

39.             Right
to Extend Term. Tenant shall have the right to extend the Term of this Lease upon the following terms and conditions:

 

(a)             Extension
Rights. Tenant shall have 1 right (the “Extension Right”) to extend the term of this Lease for 5 years (the
 “Extension Term”) on the same terms and conditions as this Lease (other than with respect to Base Rent and the
Work Letter) by giving Landlord written notice of its election to exercise the Extension Right (the “Extension Notice”)
at least 9 months prior, and no earlier than 15 months prior, to the expiration of the Base Term of this Lease.

 

Upon the commencement
of the Extension Term, Base Rent shall be payable at the Market Rate (as defined below). Base Rent shall thereafter be adjusted
on each annual anniversary of the commencement of such Extension Term by a percentage agreed upon by the parties at the time the
Market Rate is determined. As used herein, “Market Rate” shall mean the rate that comparable landlords of comparable
buildings have accepted in current transactions from non-equity (i.e., not being offered equity in the buildings) and nonaffiliated
tenants of similar financial strength for space of comparable size, quality (including all Tenant Improvements, Alterations and
other improvements) and floor height in Class A laboratory/office buildings in the San Mateo/San Carlos/Redwood City area
for a comparable term, with the determination of the Market Rate to take into account all relevant factors, including tenant inducements,
views, the Common Area Amenities, parking costs, leasing commissions, allowances or concessions, if any. In addition, Landlord
may impose a market rent for the parking rights provided hereunder; provided, however, that Landlord shall not charge parking rent
for parking rights during the Extension Term unless Landlord is required to do so by any Governmental Authority or as part of a
traffic mitigation program.

 

    

    
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Within 30 days after
Tenant’s delivery of the Extension Notice to Landlord, Landlord shall notify Tenant in writing of Landlord’s determination
of the Market Rent and rent escalations during the Extension Term (“Landlord’s Determination Notice”).
If, on or before the date which is 30 days after Landlord’s delivery of Landlord’s Determination Notice to Tenant,
Tenant has not agreed with Landlord’s determination of the Market Rate and the rent escalations during the Extension Term
after negotiating in good faith, Tenant shall be deemed to have elected arbitration as described in Section 39(b).
Tenant acknowledges and agrees that, if Tenant has elected to exercise the Extension Right by delivering notice to Landlord as
required in this Section 39(a), Tenant shall have no right thereafter to rescind or elect not to extend the term of
this Lease for the Extension Term.

 

(b)           Arbitration.

 

(i)            Within
10 days of Tenant’s notice to Landlord of its election (or deemed election) to arbitrate Market Rate and escalations, each
party shall deliver to the other a proposal containing the Market Rate and escalations that the submitting party believes to be
correct (“Extension Proposal”). If either party fails to timely submit an Extension Proposal, the other party’s
submitted proposal shall determine the Base Rent and escalations for the Extension Term. If both parties submit Extension Proposals,
then Landlord and Tenant shall meet within 7 days after delivery of the last Extension Proposal and make a good faith attempt to
mutually appoint a single Arbitrator (and defined below) to determine the Market Rate and escalations. If Landlord and Tenant are
unable to agree upon a single Arbitrator, then each shall, by written notice delivered to the other within 10 days after the meeting,
select an Arbitrator. If either party fails to timely give notice of its selection for an Arbitrator, the other party’s submitted
proposal shall determine the Base Rent for the Extension Term. The 2 Arbitrators so appointed shall, within 10 business days after
their appointment, appoint a third Arbitrator. If the 2 Arbitrators so selected cannot agree on the selection of the third Arbitrator
within the time above specified, then either party, on behalf of both parties, may request such appointment of such third Arbitrator
by application to any state court of general jurisdiction in the jurisdiction in which the Premises are located, upon 10 days prior
written notice to the other party of such intent.

 

(ii)           The
decision of the Arbitrator(s) shall be made within 30 days after the appointment of a single Arbitrator or the third Arbitrator,
as applicable. The decision of the single Arbitrator shall be final and binding upon the parties. The average of the two closest
Arbitrators in a three Arbitrator panel shall be final and binding upon the parties. Each party shall pay the fees and expenses
of the Arbitrator appointed by or on behalf of such party and the fees and expenses of the third Arbitrator shall be borne equally
by both parties. If the Market Rate and escalations are not determined by the first day of the Extension Term, then Tenant shall
pay Landlord Base Rent in an amount equal to the Base Rent in effect immediately prior to the Extension Term and increased by the
Rent Adjustment Percentage until such determination is made. After the determination of the Market Rate and escalations, the parties
shall make any necessary adjustments to such payments made by Tenant. Landlord and Tenant shall then execute an amendment recognizing
the Market Rate and escalations for the Extension Term.

 

(iii)          An
 “Arbitrator” shall be any person appointed by or on behalf of either party or appointed pursuant to the provisions
hereof and: (i) shall be (A) a member of the American Institute of Real Estate Appraisers with not less than 10 years
of experience in the appraisal of improved office and high tech industrial real estate in the San Francisco peninsula area, or
(B) a licensed commercial real estate broker with not less than 15 years’ experience representing landlords and/or tenants
in the leasing of high tech or life sciences space in the San Francisco peninsula area, (ii) devoting substantially all of
their time to professional appraisal or brokerage work, as applicable, at the time of appointment and (iii) be in all respects
impartial and disinterested.

 

(c)           Rights
Personal. The Extension Right is personal to Tenant and is not assignable without Landlord’s consent, which may be granted
or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s
interest in this Lease, except that they may be assigned in connection with any Permitted Assignment of this Lease.

 

    

    
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(d)           Exceptions.
Notwithstanding anything set forth above to the contrary, the Extension Right shall, at Landlord’s option, not be in effect
and Tenant may not exercise any of the Extension Right:

 

(i)            during
any period of time that Tenant is in Default under any provision of this Lease; or

 

(ii)          if
Tenant has been in Default under any provision of this Lease 3 or more times, whether or not the Defaults are cured, during the
12 month period immediately prior to the date that Tenant intends to exercise the Extension Right, whether or not the Defaults
are cured.

 

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

 

(f)            Termination.
The Extension Right shall, at Landlord’s option, terminate and be of no further force or effect even after Tenant’s
due and timely exercise of the Extension Right, if, after such exercise, but prior to the commencement date of the Extension Term,
(i) Tenant fails to timely cure any default by Tenant under this Lease; or (ii) Tenant has Defaulted 3 or more times
during the period from the date of the exercise of the Extension Right to the date of the commencement of the Extension Term, whether
or not such Defaults are cured.

 

40.           Miscellaneous.

 

(a)            Notices.
All notices or other communications between the parties shall be in writing and shall be deemed duly given upon delivery or refusal
to accept delivery by the addressee thereof if delivered in person, or upon actual receipt if delivered by reputable overnight
guaranty courier, addressed and sent to the parties at their addresses set forth above. Landlord and Tenant may from time to time
by written notice to the other designate another address for receipt of future notices.

 

(b)           Joint
and Several Liability. If and when included within the term “Tenant,” as used in this instrument, there
is more than one person or entity, each shall be jointly and severally liable for the obligations of Tenant.

 

(c)            Financial
Information. In the event Tenant is privately held (i.e., Tenant is not a “public company”), Tenant shall
furnish to Landlord with true and complete copies of (i) upon Landlord’s written request on an annual basis, Tenant’s
most recent unaudited (or, to the extent available, audited) annual financial statements, provided, however, that Tenant shall
not be required to deliver to Landlord such annual financial statements for any particular year sooner than the date that is 90
days after the end of each of Tenant’s fiscal years during the Term, (ii) upon Landlord’s written request on a
quarterly basis, Tenant’s most recent unaudited quarterly financial statements; provided, however, that Tenant shall not
be required to deliver to Landlord such quarterly financial statements for any particular quarter sooner that the date that is
90 days after the end of each of Tenant’s fiscal quarters during the Term, (iii) upon Landlord’s written request
from time to time, updated business plans, including cash flow projections and/or pro forma balance sheets and income statements,
all of which shall be treated by Landlord as confidential information belonging to Tenant, (iv) upon Landlord’s written
request from time to time, corporate brochures and/or profiles prepared by Tenant for prospective investors, and (v) upon
Landlord’s written request from time to time, any other financial information or summaries that Tenant typically provides
to its lenders or shareholders. Notwithstanding anything to the contrary contained in this Lease, Landlord’s written request
for financial information pursuant to this Section 40(c) may delivered to Tenant via email. For the avoidance
of doubt, so long as Tenant is a “public company” and its financial information is publicly available, then the foregoing
delivery requirements of this Section 40(c) shall not apply.

  

    

    
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(d)           Recordation.
Neither this Lease nor a memorandum of lease shall be filed by or on behalf of Tenant in any public record. Landlord may prepare
and file, and upon request by Landlord Tenant will execute, a memorandum of lease. Nothing contained in this Lease is intended
to prohibit Tenant from filing this Lease with the Securities and Exchange Commission (“SEC”) to the extent
that Tenant is required to do so pursuant to applicable SEC requirements.

 

(e)            Interpretation.
The normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not
be employed in the interpretation of this Lease or any exhibits or amendments hereto. Words of any gender used in this Lease shall
be held and construed to include any other gender, and words in the singular number shall be held to include the plural, unless
the context otherwise requires. The captions inserted in this Lease are for convenience only and in no way define, limit or otherwise
describe the scope or intent of this Lease, or any provision hereof, or in any way affect the interpretation of this Lease.

 

(f)            Not
Binding Until Executed. The submission by Landlord to Tenant of this Lease shall have no binding force or effect, shall not
constitute an option for the leasing of the Premises, nor confer any right or impose any obligations upon either party until execution
of this Lease by both parties.

 

(g)           Limitations
on Interest. It is expressly the intent of Landlord and Tenant at all times to comply with applicable law governing the maximum
rate or amount of any interest payable on or in connection with this Lease. If applicable law is ever judicially interpreted so
as to render usurious any interest called for under this Lease, or contracted for, charged, taken, reserved, or received with respect
to this Lease, then it is Landlord’s and Tenant’s express intent that all excess amounts theretofore collected by Landlord
be credited on the applicable obligation (or, if the obligation has been or would thereby be paid in full, refunded to Tenant),
and the provisions of this Lease immediately shall be deemed reformed and the amounts thereafter collectible hereunder reduced,
without the necessity of the execution of any new document, so as to comply with the applicable law, but so as to permit the recovery
of the fullest amount otherwise called for hereunder.

 

(h)           Choice
of Law. Construction and interpretation of this Lease shall be governed by the internal laws of the state in which the Premises
are located, excluding any principles of conflicts of laws.

 

(i)            Time.
Time is of the essence as to the performance of Tenant’s obligations under this Lease.

 

(j)            OFAC.
Tenant and all beneficial owners of Tenant are currently (a) in compliance with and shall at all times during the Term of
this Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the
U.S. Department of Treasury and any statute, executive order, or regulation relating thereto (collectively, the “OFAC
Rules”), (b) not listed on, and shall not during the term of this Lease be listed on, the Specially Designated Nationals
and Blocked Persons List, Foreign Sanctions Evaders List, or the Sectoral Sanctions Identification List, which are all maintained
by OFAC and/or on any other similar list maintained by OFAC or other governmental authority pursuant to any authorizing statute,
executive order, or regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business
under the OFAC Rules.

 

(k)            Incorporation
by Reference. All exhibits and addenda attached hereto are hereby incorporated into this Lease and made a part hereof. If there
is any conflict between such exhibits or addenda and the terms of this Lease, such exhibits or addenda shall control.

 

(l)             Entire
Agreement. This Lease, including the exhibits attached hereto, constitutes the entire agreement between Landlord and Tenant
pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, letters of intent,
negotiations and discussions, whether oral or written, of the parties, and there are no warranties, representations or other agreements,
express or implied, made to either party by the other party in connection with the subject matter hereof except as specifically
set forth herein.

  

    

    
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(m)           No
Accord and Satisfaction. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment of Base
Rent or any Additional Rent will be other than on account of the earliest stipulated Base Rent and Additional Rent, nor will any
endorsement or statement on any check or letter accompanying a check for payment of any Base Rent or Additional Rent be an accord
and satisfaction. Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance
of such Rent or to pursue any other remedy provided in this Lease.

 

(n)            Hazardous
Activities. Notwithstanding any other provision of this Lease, Landlord, for itself and its employees, agents and contractors,
reserves the right to refuse to perform any repairs or services in any portion of the Premises which, pursuant to Tenant’s
routine safety guidelines, practices or custom or prudent industry practices, require any form of protective clothing or equipment
other than safety glasses. In any such case, Tenant shall contract with parties who are acceptable to Landlord, in Landlord’s
reasonable discretion, for all such repairs and services, and Landlord shall, to the extent required, equitably adjust Tenant’s
Share of Operating Expenses in respect of such repairs or services to reflect that Landlord is not providing such repairs or services
to Tenant.

 

(o)            EV
Charging Stations. Landlord shall not unreasonably withhold its consent to Tenant’s written request to install 1 or more
electric vehicle car charging stations (“EV Stations”) in the parking area serving the Project; provided, however,
that Tenant complies with all reasonable requirements, standards, rules and regulations which may be imposed by Landlord,
at the time Landlord’s consent is granted, in connection with Tenant’s installation, maintenance, repair and operation
of such EV Stations, which may include, without limitation, the charge to Tenant of a reasonable monthly rental amount for the
parking spaces used by Tenant for such EV Stations, Landlord’s designation of the location of Tenant’s EV Stations,
and Tenant’s payment of all costs whether incurred by Landlord or Tenant in connection with the installation, maintenance,
repair and operation of each Tenant’s EV Station(s).  Nothing contained in this paragraph is intended to increase the
number of parking spaces which Tenant is otherwise entitled to use at the Project under Section 10 of this Lease nor
impose any additional obligations on Landlord with respect to Tenant’s parking rights at the Project.

 

(p)            California
Accessibility Disclosure. For purposes of Section 1938(a) of the California Civil Code, Landlord hereby discloses
to Tenant, and Tenant hereby acknowledges, that the Project has not undergone inspection by a Certified Access Specialist (CASp).
In addition, the following notice is hereby provided pursuant to Section 1938(e) of the California Civil Code: “A
Certified Access Specialist (CASp) can inspect the subject premises and determine whether the subject premises comply with all
of the applicable construction-related accessibility standards under state law. Although state law does not require a CASp inspection
of the subject premises, the commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection
of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant.
The parties shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for
the CASp inspection, and the cost of making any repairs necessary to correct violations of construction-related accessibility standards
within the premises.” In furtherance of and in connection with such notice: (i) Tenant, having read such notice and
understanding Tenant’s right to request and obtain a CASp inspection, hereby elects not to obtain such CASp inspection and
waives its rights to obtain a CASp inspection with respect to the Premises, Building and/or Project to the extent permitted by
Legal Requirements; and (ii) if the waiver set forth in clause (i) hereinabove is not enforceable pursuant to Legal Requirements,
then Landlord and Tenant hereby agree as follows (which constitutes the mutual agreement of the parties as to the matters described
in the last sentence of the foregoing notice): (A) except to the extent required by Legal Requirements, Tenant shall have
the one-time right to request for and obtain a CASp inspection, which request must be made, if at all, in a written notice delivered
by Tenant to Landlord; (B) any CASp inspection timely requested by Tenant shall be conducted (1) at a time mutually agreed
to by Landlord and Tenant, (2) in a professional manner by a CASp designated by Landlord and without any testing that would
damage the Premises, Building or Project in any way, and (3) at Tenant’s sole cost and expense, including, without limitation,
Tenant’s payment of the fee for such CASp inspection, the fee for any reports prepared by the CASp in connection with such
CASp inspection (collectively, the “CASp Reports”) and, except to the extent a CASp inspection was required
by Legal Requirements (other than in connection with Alterations or improvements being performed by Tenant in the Premises, in
which case the terms of Section 7 of the Lease shall apply), all other costs and expenses in connection therewith;
(C) the CASp Reports shall be delivered by the CASp simultaneously to Landlord and Tenant; (D) Tenant, at its sole cost
and expense, shall be responsible for making any improvements, alterations, modifications and/or repairs to or within the Premises
then required by Legal Requirements to correct violations of construction-related accessibility standards including, without limitation,
any violations disclosed by such CASp inspection; and (E) except to the extent a CASp inspection was required by Legal Requirements
(other than in connection with Alterations or improvements being performed by Tenant in the Premises, in which case the terms of
Section 7 of the Lease shall apply), if such CASp inspection identifies any improvements, alterations, modifications
and/or repairs necessary to correct violations of construction-related accessibility standards relating to those items of the Building
and Project located outside the Premises that are Landlord’s obligation to repair as set forth in this Lease, then Landlord
shall perform such improvements, alterations, modifications and/or repairs as and to the extent required by Legal Requirements
to correct such violations, and Tenant shall reimburse Landlord for the cost of such improvements, alterations, modifications and/or
repairs within 10 business days after Tenant’s receipt of an invoice therefor from Landlord. Landlord and Tenant expressly
acknowledge and agree that the foregoing provisions of this Section 40(p) shall apply only in the event that Tenant
elects to obtain a CASp inspection. In the event that Tenant does not elect to obtain a CASp inspection, the terms and provisions
of this Section 40(p) regarding the allocation of costs for Alterations and improvements shall not be applicable.

  

    

    
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(q)           Counterparts.
This Lease may be executed in 2 or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic
signature process complying with the U.S. federal ESIGN Act of 2000) or other transmission method and any counterpart so delivered
shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. Electronic signatures shall
be deemed original signatures for purposes of this Lease and all matters related thereto, with such electronic signatures having
the same legal effect as original signatures.

 

(r)            No
Press Release. Landlord and Tenant agree that no press release regarding this Lease will be issued without the prior written
consent of the non-disclosing party except that Tenant shall be permitted to make public disclosures and include content in quarterly
or annual press releases that refer to the existence of this Lease and the Premises but do not refer to Landlord. Notwithstanding
the foregoing or anything to the contrary contained in this Lease, Landlord agrees that Tenant, its affiliates, successors, assigns
and anyone acting on its behalf or at its direction shall have the right to reproduce and distribute this Agreement, in whole or
in part, in the ordinary course of Tenant’s business, including but not limited to any sale or merger or reorganization of
the business, business records retention policies and obligations, regulatory or other government filings, responding to legal
process or otherwise in connection with litigation, investigatory or regulatory matters, or in connection with securing tax, legal
or business advice.

 

[ Signatures on next page ]

 

    

    
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IN WITNESS WHEREOF,
Landlord and Tenant have executed this Lease as of the day and year first above written.

 

	 	TENANT:
	 	 
	 	IOVANCE BIOTHERAPEUTICS, INC.,
	 	a Delaware corporation
	 	 
	 	 
	 	By:	/s/
Maria Fardis
	 	Its:	President
    and Chief Executive Officer
	 	 
	 	 
	 	LANDLORD:
	 	 
	 	ARE-SAN FRANCISCO NO.
    63, LLC,
	 	a Delaware limited liability
    company

 

		By:	ALEXANDRIA REAL ESTATE EQUITIES, L.P.,

                                                                 a Delaware limited partnership,

                                                                 managing member

 

		By:	ARE-QRS CORP.,

                                                                   a Maryland corporation,

                                                                   general partner

 

 

	 	By:	/s/ Kristen Childs
	 	Its:	Vice President, RE Legal Affairs

  

 

 

    

     

    

825
Industrial/Iovance Biotherapeutics - Page 1

 

EXHIBIT A TO LEASE

 

DESCRIPTION OF PREMISES

 

 

 

     

     

    

825 Industrial/Iovance Biotherapeutics
- Page 1

 

EXHIBIT B TO LEASE

 

DESCRIPTION OF PROJECT

 

 

 

    

    
	Work Letter – Tenant Build	825 Industrial/Iovance Biotherapeutics - Page 1 

    

 

EXHIBIT C TO LEASE

 

WORK LETTER

 

THIS WORK LETTER (this
 “Work Letter”) is incorporated into that certain Lease Agreement (the “Lease”) dated as of
February 8, 2021, between ARE-SAN FRANCISCO NO. 63, LLC, a Delaware limited liability company (“Landlord”),
and IOVANCE BIOTHERAPEUTICS, INC., a Delaware corporation (“Tenant”). Any initially capitalized
terms used but not defined herein shall have the meanings given them in the Lease.

 

1.            General
Requirements.

 

(a)          Tenant’s
Authorized Representative. Tenant designates Stanley Newman, Jean-Marc Bellemin and Fred Vogt (any such individual acting alone,
 “Tenant’s Representative”) as the only persons authorized to act for Tenant pursuant to this Work Letter.
Landlord shall not be obligated to respond to or act upon any request, approval, inquiry or other communication (“Communication”)
from or on behalf of Tenant in connection with this Work Letter unless such Communication is in writing from Tenant’s Representative.
Tenant may change any Tenant’s Representative at any time upon not less than 2 business days advance written notice to Landlord.

 

(b)         Landlord’s
Authorized Representative. Landlord designates Dan Tsang and Dan Stoddard (either such individual acting alone, “Landlord’s
Representative”) as the only persons authorized to act for Landlord pursuant to this Work Letter. Tenant shall not be
obligated to respond to or act upon any request, approval, inquiry or other Communication from or on behalf of Landlord in connection
with this Work Letter unless such Communication is in writing from Landlord’s Representative. Landlord may change either
Landlord’s Representative at any time upon not less than 2 business days advance written notice to Tenant.

 

(c)          Architects,
Consultants and Contractors. Landlord and Tenant hereby acknowledge and agree that the architect (the “TI Architect”)
for the Tenant Improvements (as defined in Section 2(a) below), the general contractor for the Tenant Improvements
(the “TI General Contractor”) and any subcontractors for the Tenant Improvements shall be selected by Tenant,
subject to Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Landlord shall
be named a third party beneficiary of any contract entered into by Tenant with the TI Architect, any consultant, any contractor
or any subcontractor, and of any warranty made by any contractor or any subcontractor.

 

ARC-TEC shall be the
architect (the “Architect”) for Landlord’s Work (as defined below) and Truebeck shall be the general contractor
for Landlord’s Work (“General Contractor”). Landlord shall select any subcontractors for Landlord’s
Work in Landlord’s sole and absolute discretion.

 

2.            Landlord’s
Work and Tenant Improvements.

 

(a)          Landlord’s
Work and Tenant Improvements Defined. As used herein, (i) “Landlord’s Work” shall mean the design
and construction of the building shell and related site improvements (“Building Shell”) consisting of the elements
described on the Basis of Design attached hereto as Schedule 1 under the categories of “Cold Shell” and “Full
Shell Warm Up” and related site improvements marked with an “X” (collectively, the “Basis of Design”)
and the index referencing plans attached hereto as Schedule 2 (“Building Shell Construction Drawings”),
and (ii) “Tenant Improvements” shall mean the design and construction of improvements to the Premises of
a fixed and permanent nature as more particularly provided for in this Work Letter. The design of the Building Shell shall be generally
consistent with the Basis of Design and the Building Shell Construction Drawings described on Schedule 1 and Schedule
2, respectively; provided, however, that Tenant acknowledges that Landlord may make changes to the Building Shell, as determined
by Landlord in its reasonable discretion. Notwithstanding anything to the contrary contained herein, Landlord is under no obligation
to make any changes that may be requested by Tenant to the Building Shell. Other than (i) completing Landlord’s Work,
at Landlord’s sole cost and expense, and (ii) funding the TI Allowance, Landlord shall not have any obligation whatsoever
with respect to the finishing of the Premises or the Project for Tenant’s use and occupancy. Landlord shall perform Landlord’s
Work in a good and workmanlike manner and in compliance with Legal Requirements.

 

    

    
	Work Letter – Tenant Build	825 Industrial/Iovance Biotherapeutics - Page 2 

    

 

(b)          Tenant’s
Space Plans. Tenant shall deliver to Landlord schematic drawings and outline specifications (the “Space Plans”)
detailing Tenant’s requirements for the Tenant Improvements. Not more than 5 days thereafter, Landlord shall deliver to Tenant
the written objections, questions or comments of Landlord and the TI Architect with regard to the Space Plans. Tenant shall cause
the Space Plans to be revised to address such written comments and shall resubmit said drawings to Landlord for approval (which
approval shall not be unreasonably withheld, conditioned or delayed) within 5 business days thereafter. Such process shall continue
until Landlord has approved the Space Plans. Landlord and Tenant acknowledge and agree that the Tenant Improvements shall comply
in all respects with the LEED Standards set forth on Schedule 3 attached hereto; provided, however, that Landlord shall
install the HVAC systems necessary to comply with the same.

 

(c)          Working
Drawings. Tenant shall cause the TI Architect to prepare and deliver to Landlord for review and comment construction plans,
specifications and drawings for the Tenant Improvements (“TI Construction Drawings”), which TI Construction
Drawings shall be prepared substantially in accordance with the Space Plans. Tenant shall be solely responsible for ensuring that
the TI Construction Drawings reflect Tenant’s requirements for the Tenant Improvements. Landlord shall deliver its written
comments on the TI Construction Drawings to Tenant not later than 5 business days after Landlord’s receipt of the same; provided,
however, that Landlord may not disapprove any matter that is consistent with the Space Plans. Tenant and the TI Architect shall
consider all such comments in good faith and shall, within 5 business days after receipt, notify Landlord how Tenant proposes to
respond to such comments. Any disputes in connection with such comments shall be resolved in accordance with Section 2(e) hereof.
Provided that the design reflected in the TI Construction Drawings is consistent with the Space Plans, Landlord shall approve the
TI Construction Drawings submitted by Tenant. Once approved by Landlord, subject to the provisions of Section 4 below,
Tenant shall not materially modify the TI Construction Drawings except as may be reasonably required in connection with the issuance
of the TI Permit (as defined in Section 3(a) below).

 

(d)         Approval
and Completion. If any dispute regarding the design of the Tenant Improvements is not settled within 10 business days after
notice of such dispute is delivered by one party to the other, Tenant may make the final decision regarding the design of the Tenant
Improvements, provided (i) Tenant acts reasonably and such final decision is either consistent with or a compromise between
Landlord’s and Tenant’s positions with respect to such dispute, (ii) that all costs and expenses resulting from
any such decision by Tenant shall be payable out of the TI Fund (as defined in Section 5(d) below), and (iii) Tenant’s
decision will not affect the base Building, structural components of the Building or any Building systems (in which case Landlord
shall make the final decision). Any changes to the TI Construction Drawings following Landlord’s and Tenant’s approval
of same requested by Tenant shall be processed as provided in Section 4 hereof.

 

(e)         Coordination
Obligations. Tenant acknowledges that Landlord shall continue to require access to the Building following Landlord’s
delivery to Tenant of the Premises for the construction of the Tenant Improvements in order to complete Landlord’s Work and
Tenant agrees to comply with the Site Logistics Instructions attached to this Work Letter as Schedule 4. “Tenant
Improvement Work Readiness Condition” shall mean the point in the construction of Landlord’s Work when the elements
described on Schedule 5 have been achieved. Commencing on the Commencement Date, Landlord and Tenant shall work together
in a cooperative manner, and shall likewise require each of their respective architects and engineers and contractors to work together
in a cooperative manner, to coordinate the remaining Landlord’s Work and the Tenant Improvements and to achieve the substantial
completion of all such work in as prompt and efficient manner as reasonably practicable.

  

    

    
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3.            Performance
of the Tenant Improvements.

 

(a)          Commencement
and Permitting of the Tenant Improvements. Tenant shall commence construction of the Tenant Improvements upon obtaining and
delivering to Landlord a building permit (the “TI Permit”) authorizing the construction of the Tenant Improvements
consistent with the TI Construction Drawings approved by Landlord. The cost of obtaining the TI Permit shall be payable from the
TI Fund. Landlord shall assist Tenant in obtaining the TI Permit. Prior to the commencement of the Tenant Improvements, Tenant
shall deliver to Landlord a copy of any contract with Tenant’s contractors (including the TI Architect), and certificates
of insurance from any contractor performing any part of the Tenant Improvement evidencing industry standard commercial general
liability, automotive liability, “builder’s risk”, and workers’ compensation insurance. Tenant shall cause
the TI General Contractor to provide a certificate of insurance naming Landlord, Alexandria Real Estate Equities, Inc., and
Landlord’s lender (if any) as additional insureds for the TI General Contractor’s liability coverages required above.

 

(b)         Selection
of Materials, Etc. Where more than one type of material or structure is indicated on the TI Construction Drawings approved
by Tenant and Landlord, the option will be within Tenant’s reasonable discretion if the matter concerns the Tenant Improvements,
and within Landlord’s sole and absolute discretion if the matter concerns the structural components of the Building or any
Building system.

 

(c)          Tenant
Liability. Tenant shall be responsible for correcting any deficiencies or defects in the Tenant Improvements.

 

(d)          Substantial
Completion. Tenant shall substantially complete or cause to be substantially completed the Tenant Improvements in a good and
workmanlike manner, in accordance with the TI Permit subject, in each case, to Minor Variations and normal “punch list”
items of a non-material nature which do not interfere with the use of the Premises (“Substantial Completion”
or “Substantially Complete”). Upon Substantial Completion of the Tenant Improvements, Tenant shall require the
TI Architect and the TI General Contractor to execute and deliver, for the benefit of Tenant and Landlord, a Certificate of Substantial
Completion in the form of the American Institute of Architects (“AIA”) document G704. For purposes of this Work
Letter, “Minor Variations” shall mean any non-material modifications reasonably required: (i) to comply
with all applicable Legal Requirements and/or to obtain or to comply with any required permit (including the TI Permit); (ii) to
comport with good design, engineering, and construction practices which are not material; or (iii) to make reasonable adjustments
for field deviations or conditions encountered during the construction of the Tenant Improvements.

 

4.           Changes.
Any changes requested by Tenant to the Tenant Improvements after the delivery and approval by Landlord of the Space Plans (other
than Minor Variations), shall be requested and instituted in accordance with the provisions of this Section 4 and shall
be subject to the written approval of Landlord, which approval shall not be unreasonably withheld, conditioned or delayed. For
the avoidance of doubt, the terms of this Section 4 shall not apply with respect to Minor Variations, with respect
to which Tenant shall be required to notify Landlord but shall not be subject to Landlord’s approval.

 

(a)          Tenant’s
Right to Request Changes. If Tenant shall request changes to the Tenant Improvements (“Changes”), Tenant
shall request such Changes by notifying Landlord in writing in substantially the same form as the AIA standard change order form
(a “Change Request”), which Change Request shall detail the nature and extent of any such Change. Such Change
Request must be signed by Tenant’s Representative. Landlord shall review and approve or disapprove such Change Request within
7 business days thereafter, provided that Landlord’s approval shall not be unreasonably withheld, conditioned or delayed.

 

Notwithstanding anything
to the contrary contained herein, if, following the approval by Landlord and Tenant of the Space Plan or the TI Construction Drawings,
Tenant is informed in writing that changes to such Space Plan or the TI Construction Drawings (other than Minor Variations) are
being required by any applicable Governmental Authority as a result of changes in applicable Legal Requirements (any such change,
a “Mandated Change”) and Tenant elects to appeal such Mandated Change in good faith and in accordance with the
appropriate process, then, upon written notice to Landlord, Landlord shall cooperate with Tenant, at no material cost to Landlord,
in Tenant’s efforts to appeal the applicable Mandated Change. For the avoidance of doubt, Mandated Changes, including any
Mandated Changes with respect to which Tenant filed an appeal which was rejected by the applicable Governmental Authority, shall
constitute Changes subject to the immediately preceding paragraph.

  

    

    
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(b)         Implementation
of Changes. If Landlord approves such Change and Tenant deposits with Landlord any Excess TI Costs (as defined in Section 5(d) below)
required in connection with such Change, Tenant may cause the approved Change to be instituted. If any TI Permit modification or
change is required as a result of such Change, Tenant shall promptly provide Landlord with a copy of such TI Permit modification
or change.

 

5.            Costs.

 

(a)         Budget
For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant shall obtain a detailed
breakdown, by trade, of the costs incurred or that will be incurred, in connection with the design and construction of the Tenant
Improvements (the “Budget”), and deliver a copy of the Budget to Landlord for Landlord’s approval, which
shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord.
The Budget shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 1% of
the TI Costs (as hereinafter defined), for monitoring and inspecting the construction of the Tenant Improvements, which sum shall
be payable from the TI Fund.

 

(b)          TI
Allowance. Landlord shall provide to Tenant a tenant improvement allowance (collectively, the “TI Allowance”)
as follows:

 

1.            a
 “Tenant Improvement Allowance” in the maximum amount of $165.00 per rentable square foot in the Premises, which
is included in the Base Rent set forth in the Lease; and

 

2.            an
 “Additional Tenant Improvement Allowance” in the maximum amount of $50.00 per rentable square foot in the Premises,
which shall, to the extent used, result in TI Rent as set forth in Section 4(b) of the Lease.

 

Before commencing the
Tenant Improvements, Tenant shall notify Landlord how much Additional Tenant Improvement Allowance Tenant has elected to receive
from Landlord. Such election shall be final and binding on Tenant, and may not thereafter be modified without Landlord’s
consent, which may be granted or withheld in Landlord’s sole and absolute subjective discretion The TI Allowance shall be
disbursed in accordance with this Work Letter.

 

Tenant shall have no
right to the use or benefit (including any reduction to Base Rent) of any portion of the TI Allowance not required for the construction
of (i) the Tenant Improvements described in the TI Construction Drawings approved pursuant to Section 2(e) or
(ii) any Changes pursuant to Section 4. Tenant shall have no right to any portion of the TI Allowance that is
not disbursed before the last day of the month that is 12 months after the Commencement Date.

 

(c)          Costs
Includable in TI Fund. The TI Fund shall be used solely for the payment of design, permits and construction costs in connection
with the construction of the Tenant Improvements, including, without limitation, the cost of electrical power and other utilities
used in connection with the construction of the Tenant Improvements, the cost of preparing the Space Plans and the TI Construction
Drawings, all costs set forth in the Budget, including Landlord’s Administrative Rent, and the cost of Changes (collectively,
 “TI Costs”). Notwithstanding anything to the contrary contained herein, the TI Fund shall not be used to purchase
any furniture, personal property, demountable partitions or other non-Building system materials or equipment, including, but not
be limited to, Tenant’s voice or data cabling, non-ducted biological safety cabinets and other scientific equipment not incorporated
into the Tenant Improvements; provided, however, that Tenant may use a portion of the TI Allowance toward the cost of the installation
of Tenant’s Building Sign.

  

    

    
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(d)          Excess
TI Costs. Landlord shall have no obligation to bear any portion of the cost of any of the Tenant Improvements except to the
extent of the TI Allowance. If at any time and from time-to-time, the remaining TI Costs under the Budget exceed the remaining
unexpended TI Allowance (“Excess TI Costs”), monthly disbursements of the TI Allowance shall be made in the
proportion that the remaining TI Allowance bears to the outstanding TI Costs under the Budget, and Tenant shall fund the balance
of each such monthly draw. For purposes of any litigation instituted with regard to such amounts, those amounts required to be
paid by Tenant will be deemed Rent under the Lease. The TI Allowance and Excess TI Costs are herein referred to as the “TI
Fund.” Notwithstanding anything to the contrary set forth in this Section 5(d), Tenant shall be fully and
solely liable for TI Costs and the cost of Minor Variations in excess of the TI Allowance.

 

(e)         Payment
for TI Costs. During the course of design and construction of the Tenant Improvements, subject to the terms of Section 5(d),
Landlord shall reimburse Tenant for TI Costs once a month against a draw request in Landlord’s standard form, containing
evidence of payment of such TI Costs by Tenant and such certifications, lien waivers (including a conditional lien release for
each progress payment and unconditional lien releases for the prior month’s progress payments), inspection reports and other
matters as Landlord customarily obtains, to the extent of Landlord’s approval thereof for payment, no later than 30 days
following receipt of such draw request. Upon completion of the Tenant Improvements (and prior to any final disbursement of the
TI Fund), Tenant shall deliver to Landlord: (i) sworn statements setting forth the names of all contractors and first tier
subcontractors who did the work and final, unconditional lien waivers from all such contractors and first tier subcontractors;
(ii) as-built plans (one copy in print format and two copies in electronic CAD format) for such Tenant Improvements; (iii) a
certification of substantial completion in Form AIA G704, (iv) a certificate of occupancy for the Premises; and (v) copies
of all operation and maintenance manuals and warranties affecting the Premises.

 

(f)          Tenant
Improvement Progress Reports. On or before the 10th day of each calendar month during the course of design and construction
of the Tenant Improvements, Tenant shall deliver to Landlord a Tenant Improvement progress report in the form of Schedule 7
completed to provide all of the most up-to-date information regarding Tenant’s progress with respect the design and construction
of the Tenant Improvements.

 

6.            Miscellaneous.

 

(a)         Delay.
As used herein and in the Lease, the term “Landlord Delay” shall mean (i) any actual delay resulting from
Landlord’s failure to approve or disapprove (pursuant to the terms of this Work Letter) any item requiring Landlord’s
approval or disapproval within the time period provided for such approval or disapproval in this Work Letter, or (ii) any
material disruption to or interference in breach of this Work Letter with the design and construction of the Tenant Improvements
caused by Landlord’s employees, agents, contractors or Landlord’s Representatives that is not cured within one (1) business
day after Landlord’s receipt of written notice thereof from Tenant. As used herein and in the Lease, the term “Tenant
Delay” shall mean (x) any material disruption to or interference with Landlord’s Work caused by Tenant’s
employees, agents, contractors or Tenant’s Representatives that is not cured within one (1) business day after Landlord’s
receipt of written notice thereof from Landlord, and (y) delays arising from Changes requested by Tenant.

 

(b)         Consents.
Whenever consent or approval of either party is required under this Work Letter, that party shall not unreasonably withhold, condition
or delay such consent or approval, except as may be expressly set forth herein to the contrary.

  

    

    
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(c)         Modification.
No modification, waiver or amendment of this Work Letter or of any of its conditions or provisions shall be binding upon Landlord
or Tenant unless in writing signed by Landlord and Tenant.

 

(d)         No
Default Funding. In no event shall Landlord have any obligation to fund any portion of the TI Allowance during any period that
Tenant is in Default under the Lease.

 

7.            Infectious
Conditions. Tenant shall require the TI General Contractor (and, in turn, the TI General Contractor shall require the TI Architect
and any consultants, contractors, subcontractors and all other service and materials providers entering the Project during the
construction of the Tenant Improvements to perform services or provide materials in connection with the Tenant Improvements (any
such party, a “Tenant Improvement Contractor Party”)) to comply with the requirements set forth in Sections
8(a) through 8(c) below. Landlord shall require Architect (to the extent that the Architect enters the Project
during the construction of Landlord’s Work) and the General Contractor (and, in turn, the General Contractor shall require
the Architect and any consultants, contractors, subcontractors and all other service and materials providers entering the Project
during the construction of Landlord’s work to perform services or provide materials in connection with Landlord’s Work
(any such party, a “Landlord’s Work Contractor Party”)) to comply with substantially similar requirements.

 

(a)         Pre-Screening
Measures. Prior to each entry by any employee of TI Architect, TI General Contractor, or any Tenant Improvement Contractor
Party entering into the Project following the delivery of the Premises in Tenant Improvement Work Readiness Condition, TI General
Contractor shall pre-screen such employee for COVID-19 and any other Infectious Conditions that may arise during the construction
of the Tenant Improvements, using all criteria recommended by the Centers for Disease Control and Prevention (“CDC”)
and applicable Governmental Authorities. TI General Contractor shall not permit any such employee of a Tenant Improvement Contractor
Party who does not pass the pre-screening to enter into the Project until such time as allowed following all recommendations of
the CDC and all applicable Governmental Authorities.

 

In the event that TI
General Contractor learns that, notwithstanding TI General Contractor’s pre-screening, an employee of TI General Contractor
or another Tenant Improvement Contractor Party who did not meet the screening criteria has entered the Project (or within the incubation
period after such entry such employee has been diagnosed or shows symptoms of COVID-19 or other applicable Infectious Condition),
TI General Contractor shall immediately notify Tenant and Tenant shall notify Landlord. TI General Contractor will inform Tenant
(and Tenant shall inform Landlord) of the areas of the Project accessed by such employee and approximate date/time of access, but
TI General Contractor shall not provide Tenant with any personally identifying information or health information of the employee.

 

By way of example,
the pre-screening for COVID-19 shall include both a temperature check of the employee and having the employee actively confirm
the information listed below. TI General Contractor shall not permit any of its employees or employees of any other Tenant Improvement
Contractor Party to enter the Project unless, no earlier than the morning of such entry:

 

(i)         The
employee had a temperature of less than 100.0°F or any more stringent applicable temperature threshold used by state or local
Governmental Authorities in the jurisdiction where the Project is located; and

 

(ii)         The
employee answered “no” to each of the following questions:*

 

a.            Have
you returned in the last 14 days from travel that included another country, a cruise ship or river cruise voyage or other locale
that requires a quarantine period upon return to the jurisdiction where the Project is located?

 

b.           Do
you have, or have you had within the past 10 days, any symptoms of COVID-19 (e.g., fever [as noted above], cough, shortness of
breath, difficulty breathing, fatigue, sore throat, muscle or body aches, headache, chills, new loss of taste or smell, congestion
or runny nose, nausea or vomiting, or diarrhea)?

  

    

    
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c.            Have
you tested positive for COVID-19?

 

d.           Have
you been in close contact (less than 6 feet away for 10 or more minutes) with someone who has or is presumed to have COVID -19
within the last 14 days?

 

*Note: It is TI General
Contractor’s obligation to regularly consult with the CDC guidelines, as well as those of state and local Governmental Authorities,
and update these questions to at all times reflect current guidance as to when it is appropriate for employees to go to work and/or
return to work.

 

If an employee of TI General
Contractor or any Tenant Improvement Contractor Party fits into any of the categories above, then TI General Contractor shall
not permit such employee to enter Project unless or until the employee has met the criteria established by the CDC for being
around others (ending home isolation) and returning to work (e.g.: https://www.cdc.gov/coronavirus/2019-ncov/hcp/disposition-in-home-patients.html
and https://www.cdc.gov/coronavirus/2019-ncov/if-you-are-sick/end-home-isolation.html).

 

(b)          TI
General Contractor’s Compliance with Applicable Regulations and Guidelines. TI General Contractor shall comply with and
implement (and cause all Tenant Improvement Contractor Parties to comply with and implement) the following to mitigate the spread
of Infectious Conditions, including COVID-19:

 

(i)            Industry
best practices related to the Infectious Conditions (and TI General Contractor shall continuously monitor industry best practices);
and

 

(ii)            All
guidance and requirements of any applicable state or local Governmental Authority relating to the Infectious Condition (and TI
General Contractor shall continuously monitor such guidance and requirements); and

 

(iii)           All
guidance and requirements of the Occupational Safety and Health Administration (“OSHA”) related to the applicable
Infectious Conditions (and TI General Contractor shall continually monitor the OSHA’s website for updates thereto); and

 

(iv)           All
guidance issued by the CDC related to the Infectious Condition and TI General Contractor shall continually monitor CDC’s
website for updates thereto; and

 

(v)            All
policies or procedures adopted by Landlord with respect to the Project from time to time (provided TI General Contractor has been
given a copy of them).

 

TI General Contractor
agrees to coordinate with General Contractor, when appropriate, regarding the practices and procedures as provided above and with
respect to guidelines and requirements of the CDC and applicable Governmental Authorities, including, without limitation, the separation
of Tenant Improvement Contractor Parties and Landlord’s Work Contractor Parties while at the jobsite, when possible, the
cleaning of work spaces and coordination of common subcontractors.

 

(c)           Face
Coverings. Without limiting the generality of the foregoing obligations, unless notified otherwise in writing from Landlord,
at all times this Section 8 is applicable, TI General Contractor shall cause all employees of TI General Contractor
and all employees of all Tenant Improvement Contractor Parties to wear face coverings at all times while at the Project, unless
industry best practices, guidance or requirements of Governmental Authorities, guidance or requirements of OSHA, guidance issued
by the CDC, or policies or procedures adopted by Landlord require more highly protective personal protective equipment, in which
case TI General Contractor shall cause all of its employees and all employees of all Tenant Improvement Contractor Parties at the
Project to wear such personal protective equipment.

  

    

    
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(d)           Infectious
Conditions Events.

 

(i)            Cleaning.
If a person that has been diagnosed with an Infectious Condition or, notwithstanding TI General Contractor’s pre-screening,
showing symptoms of an Infectious Condition (who is subsequently diagnosed with an Infectious Condition) (an “Infected
Party”) is determined to have gained access to the portions of the Project in which Landlord’s Work is being performed
(each occurrence, a “Infectious Conditions Event”) and such Infected Party is an employee of TI General Contractor
or an employee of another Tenant Improvement Contractor Party, then (i) TI General Contractor shall be responsible, at Tenant’s
cost for cleaning the portions of the Premises in which Tenant Improvements (but not Landlord’s Work) is being performed
where the Infected Party is known or is reasonably expected to have been during their entry into the Project, and (ii) the
General Contractor shall be responsible, at Tenant’s cost (subject to the cap below) for the cost of cleaning required to
sanitize areas of the Project in which both Landlord’s Work is being performed where the Infected Party is known or is reasonably
expected to have been during their entry into the Project. The cleaning costs for which Tenant is responsible under subsection
(ii) may be paid from the TI Allowance.

 

(ii)            Delays.
To the extent that the construction of Landlord Work and/or the Tenant Improvements are delayed as a result of or in connection
with (x) the closure of any portion of the Project for sanitization in connection with an Infectious Conditions Event caused
by an Infected Party employed by TI General Contractor, General Contractor, an employee of a Tenant Improvement Contractor Party
or an employee a Landlord’s Work Contractor Party, or (y) any other Infectious Conditions Event (any such delays, “Infectious
Conditions Delays”) then, to the extent that (A) the substantial completion of Landlord’s Work is delayed
as a result of such Infectious Conditions Delays, then the Target Commencement Date shall be delayed 1 day for each day of Infectious
Conditions Delays (not to exceed 30 days of Infectious Conditions Delays in the aggregate), and (B) the Substantial Completion
of the Tenant Improvements is delayed as a result of such Infectious Conditions Delays, then the Rent Commencement Date shall be
delayed 1 day for each day of Infectious Conditions Delays (not to exceed 30 days of Infectious Conditions Delays in the aggregate).

  

    

    
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Schedule 1

 

Basis of Design

 

  

    

    
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Schedule 2

 

 

 

    

    
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Schedule 3

 

LEED Standards for Tenant Improvements

 

Tenant
Improvement Compliance Requirements

 

Landlord to strive for LEED Gold level
rating for the Core & Shell project. Landlord is seeking LEED-CS v3 certification of the Base Building Project. Tenant
supports that effort and agrees to comply with the following requirements as listed below to support LEED Core & Shell
Certification within the Tenant Improvements.

 

The tenant shall meet all State of California
Title 24 2016-Part 6, California Green Building Code, energy efficiency, and sustainable operations requirements for first
time tenant improvements, including but not limited to the following:

 

The tenant plumbing scope of
work shall include fixtures with flush and flow rates that do not exceed the following:

Break sink (in kitchen break
rooms only) – 1.5 gpm

Pre-Rinse Spray Valves (for
kitchen equipment) – 1.3 gpm

(Water Efficiency credit 3, Indoor
Water Use Reduction, 40%)

 

The tenant HVAC design scope
of work must meet the mandatory provisions of ASHRAE 90.1-2010. The tenant lighting scope of work shall comply with Title 24, 2016
prescriptive code lighting power densities, daylighting, and occupancy sensor controls and meet the following maximum lighting
power density values 30% below Title 24 requirements:

 

	Conference/Meeting:	0.8 W/SF
	Corridor:	0.4 W/SF
	Dining Area:	0.67 W/SF
	Food Prepare:	0.8 W/SF
	Lobby:	0.4 W/SF
	Open Office:	0.5 W/SF
	Lab/Vivarium:	0.93 W/SF
	Stairwells:	0.6 W/SF

 

(Energy & Atmosphere
credit 1, Optimize Energy Performance)

 

The tenant HVAC and/or refrigeration
equipment scope of work shall include zero use of chlorofluorocarbon (CFC)-based refrigerants in new base building heating, ventilating,
air conditioning and refrigeration (HVAC&R) systems. Additionally, for all equipment over 0.5lbs of refrigerant, select refrigerants
and heating, ventilating, air conditioning and refrigeration (HVAC&R) equipment that minimize or eliminate the emission of
compounds that contribute to ozone depletion and global climate change such that all equipment is in compliance with the following
formula: LCGWP + LCODP x 105 ≤ 100

 

(Energy & Atmosphere
prerequisite 3 and credit 4, Fundamental & Enhanced Refrigeration Management)

 

The tenant HVAC scope of work
shall meet the minimum requirements of Sections 4 through 7 of ASHRAE Standard 62.1 - 2007, Ventilation for Acceptable Indoor Air
Quality. Mechanical ventilation systems must be designed using the ventilation rate procedure or the applicable local code, whichever
is more stringent. The tenant HVAC scope of work shall include permanent monitoring systems to ensure that ventilation systems
maintain design minimum requirements.

 

(Environmental Quality prerequisite
1, Minimum IAQ Performance)

 

    

    
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Provide a direct outdoor airflow
measurement device capable of measuring the minimum outdoor air intake flow with an accuracy of plus or minus 15% of the design
minimum outdoor air rate, as defined by ASHRAE 62.1-2007 for mechanical ventilation systems where 20% or more of the design supply
airflow serves non-densely occupied spaces. The tenant HVAC scope of work shall include permanent monitoring systems to ensure
that ventilation systems maintain design minimum requirements. Configure all monitoring equipment to generate an alarm when the
airflow values or carbon dioxide (CO2) levels vary by 10% or more from the design values via either a building automation system
alarm to the building operator or a visual or audible alert to the building occupants. Monitor CO2 concentrations within all densely
occupied spaces (those with a design occupant density of 25 people or more per 1,000 square feet). CO2 monitors must be between
3 and 6 feet above the floor

 

(Environmental Quality credit
1, Outdoor Delivery Air Monitoring)

 

The tenant HVAC scope of work
shall increase mechanical ventilation systems to perform 30% better than Sections 4 through 7 of ASHRAE Standard 62.1-2007, Ventilation
for Acceptable Indoor Air Quality.

 

(Environmental Quality credit
2, Increased Ventilation)

 

The tenant scope of work shall
meet California Green Building Code and LEED requirements to develop and implement a plan to manage indoor air quality (IAQ) during
construction that meets or exceeds SMANCA Guidelines for Occupied Buildings Under Construction, 2nd Edition 2007, ANSI/SMACNA 008-2008,
protect stored on-site and installed absorptive materials from moisture damage, and if permanently installed air handlers are used
during construction, filtration media with a minimum efficiency reporting value (MERV) of 8 must be used at each return air grille,
as determined by ASHRAE Standard 52.2-1999 (with errata but without addenda). Replace all filtration media immediately prior to
occupancy.

 

(Environmental Quality credit
3, Construction IAQ, During Construction)

 

The tenant scope of work shall
meet California Green Building Code and LEED requirements to ensure that all adhesives and sealants used on the project site must
comply with the volatile organic compounds (VOCs) emissions established by South Coast Air Quality Management District (SCAQMD)
Rule 1168 and Green Seal Standard GS-36.

 

(Environmental Quality credit
4.1, Low-Emitting Materials, Adhesives & Sealants)

 

The tenant scope of work shall
meet California Green Building Code and LEED requirements to ensure that all paints and coatings used on the project site must
comply with the designated standard: Green Seal Standard GS-11, Green Seal Standard GS-03, and South Coast Air Quality Management
District (SCAQMD) Rule 1113.

 

(Environmental Quality credit
4.2, Low-Emitting Materials, Paints & Coatings)

 

The tenant scope of work shall
meet California Green Building Code and LEED requirements to ensure that all flooring and flooring adhesives used in the building
have to comply with designated flooring standards, such as Carpet and Rug Institute’s Green Label Plus, Scientific Certification
Systems’ FloorScore, and/or California Dept of Health Volatile Organic Emissions.

 

(Environmental Quality credit
4.3, Low-Emitting Materials, Flooring Systems)

 

The tenant scope of work shall
meet California Green Building Code and LEED requirements to ensure that all composite wood, agrifiber products and laminating
adhesives used on the interior of the building can’t have added urea-formaldehyde resins and those used in the exterior should
meet California Air Resources Board standard.

 

(Environmental Quality credit
4.4, Low-Emitting Materials, Composite Wood & Agrifiber Products)

 

The tenant shall sufficiently
exhaust each space where hazardous gases or chemicals may be present or used (e.g., garages, housekeeping and laundry areas, copying
and printing rooms), using the exhaust rates determined in EQ Prerequisite Minimum Indoor Air Quality Performance or a minimum
of 0.50 cfm per square foot (2.54 l/s per square meter), to create negative pressure with respect to adjacent spaces when the doors
to the room are closed. For each of these spaces, provide self-closing doors and deck-to-deck partitions or a hard-lid ceiling.
Each ventilation system that supplies outdoor air to occupied spaces must have particle filters or air-cleaning devices that meet
one of the following filtration media requirements: a minimum efficiency reporting value (MERV) of 13 or higher, in accordance
with ASHRAE Standard 52.2–2010; or Class F7 or higher as defined by CEN Standard EN 779–2002, Particulate Air
Filters for General Ventilation, Determination of the Filtration Performance.

 

    

    
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(Environmental Quality credit
5, Indoor and Chemical Pollutant Source Control)

 

The Tenant is responsible for
pest management services. The Tenant’s pest management vendor is to implement an Integrated Pest Management Program based
on the Integrated Pest Management Policy developed for the Core and Shell of this project. Refer to Attachment A - Integrated Pest
Management Policy. Tenant shall provide as evidence a signed contract, financials omitted, showing that an ongoing, 2 year Integrated
Pest Management is to be provided by the pest management vendor.

 

(Innovation in Design credit
1.3, Integrated Pest Management)

 

The Tenant is responsible janitorial
services. The Tenant’s janitorial vendor is to implement a Green Cleaning Program based on the Green Cleaning Policy developed
for the Core and Shell of this project. Refer to Attachment B - Green Cleaning Policy. Tenant shall provide as evidence a signed
contract, financials omitted, showing that an ongoing, 2 year Green Cleaning Program is to be provided by the janitorial vendor.

 

(Innovation in Design credit 1.4, Green Cleaning)

 

    

    
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Schedule 4

 

Site Logistic Instructions

 

 

    

    
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Schedule 5

 

Tenant Improvement Work Readiness
Condition

 

General

 

1.            Tenant
has the right to commence tenant improvement construction once the below requirements have been met by the landlord and accepted
by the tenant.

 

2.            Floors
that are released to begin TI work should be in a condition to safely allow Tenant’s work to commence in an efficient and
safe manner. Each floor released shall be delivered in broom-clean condition, free of any debris or material, with the exception
of material and tools related to ongoing work for the warm shell construction or commissioning as indicated by the shell schedule.

 

3.            Floors
that are released to begin TI work should be complete to allow layout to begin off floor surfaces, column lines, control lines
or Trimble reference points.

 

4.            Shell
contractor will be responsible for coordination with TI contractor and TI contractor will work collaboratively with the Shell contractor
to minimize any TI construction disruption. Once the schedule and work sequences have been agreed to by both contractors, a) Shell
contractor shall pay for any damage or removal to any completed TI work or any disruption of the agreed to TI schedule. b) TI contractor
shall pay for any damage or removal to any completed Shell Core work or any disruption of the agreed to Shell Core schedule. To
facilitate this coordination effort, TI contractors are required to have a representative with the knowledge of their daily work
plans and authority to make/ change/ adjust plans attend a morning huddle to coordinate daily site logistics.

 

5.            TI
contractor shall have shared access to exterior personnel hoist man-lift and crane and once the main lift is removed the freight
elevator during construction (construction elevator). There will be one personnel hoist or construction elevator per building.
Tenant shall be responsible for a pro-rata share of the elevator operating cost based on elevator usage. TI contractor shall coordinate
use of the construction elevators with the Shell contractor. In the case of crane, C&S contractor has priority of use. Personnel
hoist or freight elevator use is for moving personnel and small hand tools between floors. Loading of the building for construction
materials is through after hours use of the lifts. If removal of curtain wall is required to load TI materials, TI contractor is
responsible to coordinate and contract with Walters & Wolf to remove and replace glass. Current costs, which are subject
to change, are as follows: Manlift & Freight Elevator for Construction Use - $98/hr. Standard Time & $124/hr.
OT & $150/hr. DT. With respect to glass removal, TI contractor to determine the need and cost for removal and associated
logistics

 

6.            Because
elevators will be in the process of being installed concurrent with the tenant improvements, the skin will not be completely installed.
Once the elevators are complete and approved by the state, the exterior man-lift can be removed and the TI contractor will work
collaboratively with the Shell contractor to allow building exterior enclosure to be completed. All elevators to be signed off
no later than 5 months after delivery of the final floors. Site improvements and infrastructure will be ongoing during TI loading
of materials. TI contractor to provide protection of sitework and finishes.

 

7.            Prior
start of construction, TI contractor shall fully coordinate HVAC, Plumbing, Electrical, and Fire Sprinkler systems with core and
shell model. Points of connection to the warm shell infrastructure by TI build out will need to be coordinated between teams. Warm
shell systems will be commissioned to the point of completion less required loads prior to connection to completed and tested TI
systems. Connection is by TI contractor.

 

8.            TI
Plumbing systems to be fully coordinated between the base building and the tenant improvements in the form of a clash free Building
information Model (BIM).

 

9.            TI
Fire Sprinkler to be fully coordinated between the base building and the tenant improvements in the form of a clash free Building
information Model (BIM).

 

10.           TI
Electrical system to be fully coordinated between the base building and the tenant improvements in the form of a clash free Building
information Model (BIM).

 

    

    
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11.            Where
practical, building Shell commissioning will be concurrent with the TI commissioning. This will allow the TI will provide the necessary
loads to allow the base building equipment to be commissioned and the Building Automations System to be coordinated between the
base building and the tenant improvements. Warm shell commissioning will be completed as far as possible, short of the portion
of work requiring a TI load. Commissioning of the building systems requiring a load shall occur after the TI contractor has completed
their documentation of functional testing.

 

12.            Water
to be available to tenant use for construction proposes. Temp water is available through the Janitor Closet on each floor. The
Janitor closet construction at turn over to TI construction with ‘end state’ finishes. Any additional temp water requirements
would be by the TI contractor.

 

13.            Tenant
contractor will at all times have access to sufficient power at the house panel to allow for TI construction hand tools. Power
for welding is by TI contractor. Temp Power requirements are to be coordinated with warm shell contractor.

 

14.            Core &
Shell logistical plan, inclusive of location of cranes, concrete pumps and booms, and any other item that would impact TI construction,
to be communicated and closely coordinated with the design and construction of the Tenant Improvements. Overall Site Logistics
for the campus is very congested. There is no laydown area available for TI construction outside the building. Delivery coordination
is through StruxHub. To facilitate this coordination effort, TI contractor to attend weekly coordination meetings in addition to
daily morning huddles.

 

15.            Tenant
contractor will allow shell contractor access and laydown area sufficient to complete the shell components on each floor. Laydown
areas and work areas will be coordinated between the Shell and TI contractors prior to TI contractor starting work on each floor
in order to minimize the impact and not cause any delay to the construction of either the Shell or the TI work.

 

Export of the editable BIM model can be provided to Tenant’s
construction team upon Landlord’s design team’s release of the same.

 

Building Core and Shell Condition:

 

In addition to the general requirements stated above the following
building shell components will be in the following state of completion at the time of TI rough-in starting on each floor to satisfy
the Tenant Improvement Work Readiness Condition:

 

1.            Building
floor decks will need to be poured at least three floors above the floors that are released.

 

2.            The
floors as they are released shall be free of any shoring or temporary supports and shall meet, floor flatness standards referenced
in shell specifications.

 

3.            Building
enclosure on each floor will be 75 % complete at the start of TI rough-in and 90% complete at the time of starting TI interior
finishes. 90% completion shall occur no later than 4 weeks following 75% completion. It is understood that a portion of the façade
and the floor slab may be open to provide access to the exterior manlift(s) and/or tower cranes but any such opening shall
be protected by TI contractor through temporary measures to create a “water-tight” condition. TI contractor will allow
Shell contractor access required to complete the building shell exterior skin.

 

4.            Building
code required stairs on each floor will be installed but not completed.

 

5.            “Exterior
shell” of all base building rooms within or adjacent to the Premises (stairs, electrical rooms, mechanical rooms, MPOE, etc.)
to be fully complete with Tenant’s side fire taped and sanded to level IV finish.

 

6.            “Exterior
shell” of MPOE room to be complete with interior walls.

 

7.            Fire
Sprinklers main loops and upheads installed on each floor as it is released ready for TI connections to the extent allowed by local
jurisdiction having authority.

 

8.            Prior
to starting TI interior Finishes “Interior shell” of MPOE room to be complete with Interior walls taped and sanded
to level IV finish and plywood back boards installed.

 

    

    
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9.             Prior
to starting TI interior Finishes “Interior shell” of Structured Cable Distribution Closet on each floor to be complete
with Exterior walls taped and sanded to level IV finish.

 

10.            See
also Site Logistics Instructions to Tenant sent to ARE 4/3/2019. See Schedule 6 to the Work Letter.

 

11.            Skin
is substantially complete as required per Section 11 of Schedule 4.

 

    

    
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Schedule 6

 

Trucking Routes

 

 

 

    

    
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\

 

    

    
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Schedule 7

 

Tenant Improvement Progress Report

 

Project Address: _____________________________

 

Certification Period: ______________

 

	1. Original
    Project Budget	 	$__________________
	 	 	 
	2. Net change by Change
    Orders/Update to budget	 	$__________________
	 	 	 
	3. Current budget to
    date (Line 1 ± 2)	 	$__________________
	 	 	 
	4. Total costs incurred
    to date	 	$__________________
	 	 	 
	5. Remaining balance
    to budget (Line 3 less Line 4)	 	$__________________

 

Certification signature: ______________________

 

    

    
		825 Industrial/Iovance Biotherapeutics - Page 1

    

 

EXHIBIT D TO LEASE

  

ACKNOWLEDGMENT OF COMMENCEMENT DATE

 

This ACKNOWLEDGMENT
OF COMMENCEMENT DATE is made this _____ day of ______________, ____, between ARE-SAN FRANCISCO NO. 63, LLC, a Delaware
limited liability company (“Landlord”), and IOVANCE BIOTHERAPEUTICS, INC., a Delaware corporation
(“Tenant”), and is attached to and made a part of the Lease dated February 8, 2021 (the “Lease”),
by and between Landlord and Tenant. Any initially capitalized terms used but not defined herein shall have the meanings given them
in the Lease.

 

Landlord and Tenant
hereby acknowledge and agree, for all purposes of the Lease, that the Commencement Date of the Base Term of the Lease is ______________,
_____, the Rent Commencement Date is ______________, _____ and the termination date of the Base Term of the Lease shall be midnight
on ______________, _____. In case of a conflict between the terms of the Lease and the terms of this Acknowledgment of Commencement
Date, this Acknowledgment of Commencement Date shall control for all purposes.

 

IN WITNESS WHEREOF,
Landlord and Tenant have executed this ACKNOWLEDGMENT OF COMMENCEMENT DATE to be effective on the date first above written.

 

	 	TENANT:
	 	 
	 	IOVANCE BIOTHERAPEUTICS, INC.,
	 	a Delaware corporation
	 	 
	 	 
	 	By:	                           
	 	Its:	 
	 	 
	 	 
	 	LANDLORD:
	 	 
	 	ARE-SAN FRANCISCO NO.
    63, LLC,

    a Delaware limited liability company

 

		By:	ALEXANDRIA REAL ESTATE EQUITIES, L.P.,

a Delaware limited partnership,

managing member

 

		By:	ARE-QRS CORP.,

a Maryland corporation,

general partner

 

	 	 
	 	By:	                           
	 	Its:	 

 

    

    
	Rules and Regulations	825 Industrial/Iovance Biotherapeutics - Page 1

    

 

EXHIBIT E TO LEASE

 

Rules and Regulations

 

1.            The
sidewalk, entries, and driveways of the Project shall not be obstructed by Tenant, or any Tenant Party, or used by them for any
purpose other than ingress and egress to and from the Premises.

 

2.            Tenant
shall not place any objects, including antennas, outdoor furniture, etc., in the parking areas, landscaped areas or other
areas outside of its Premises, or on the roof of the Project.

 

3.            Except
for animals assisting the disabled, no animals shall be allowed in the offices, halls, or corridors in the Project.

 

4.            Tenant
shall not disturb the occupants of the Project or adjoining buildings by the use of any radio or musical instrument or by the making
of loud or improper noises.

 

5.            If
Tenant desires telegraphic, telephonic or other electric connections in the Premises, Landlord or its agent will direct the electrician
as to where and how the wires may be introduced; and, without such direction, no boring or cutting of wires will be permitted.
Any such installation or connection shall be made at Tenant’s expense.

 

6.            Tenant
shall not install or operate any steam or gas engine or boiler, or other mechanical apparatus in the Premises, except as specifically
approved in the Lease. The use of oil, gas or inflammable liquids for heating, lighting or any other purpose is expressly prohibited.
Explosives or other articles deemed extra hazardous shall not be brought into the Project.

 

7.            Parking
any type of recreational vehicles is specifically prohibited on or about the Project. Except for the overnight parking of operative
vehicles, no vehicle of any type shall be stored in the parking areas at any time. In the event that a vehicle is disabled, it
shall be removed within 48 hours. There shall be no “For Sale” or other advertising signs on or about any parked vehicle.
All vehicles shall be parked in the designated parking areas in conformity with all signs and other markings. All parking will
be open parking, and no reserved parking, numbering or lettering of individual spaces will be permitted except as specified by
Landlord.

 

8.            Tenant
shall maintain the Premises free from rodents, insects and other pests.

 

9.            Landlord
reserves the right to exclude or expel from the Project any person who, in the judgment of Landlord, is intoxicated or under the
influence of liquor or drugs or who shall in any manner do any act in violation of the Rules and Regulations of the Project.

 

10.            Tenant
shall not cause any unnecessary labor by reason of Tenant’s carelessness or indifference in the preservation of good order
and cleanliness. Landlord shall not be responsible to Tenant for any loss of property on the Premises, however occurring, or for
any damage done to the effects of Tenant by the janitors or any other employee or person.

 

11.            Tenant
shall give Landlord prompt notice of any defects in the water, lawn sprinkler, sewage, gas pipes, electrical lights and fixtures,
heating apparatus, or any other service equipment affecting the Premises.

 

12.            Tenant
shall not permit storage outside the Premises, including without limitation, outside storage of trucks and other vehicles, or dumping
of waste or refuse or permit any harmful materials to be placed in any drainage system or sanitary system in or about the Premises.

 

     

     

    

	Rules and Regulations	825
                                         Industrial/Iovance Biotherapeutics - Page 2

 

13.            All
moveable trash receptacles provided by the trash disposal firm for the Premises must be kept in the trash enclosure areas, if
any, provided for that purpose.

 

14.            No
auction, public or private, will be permitted on the Premises or the Project.

 

15.            No
awnings shall be placed over the windows in the Premises except with the prior written consent of Landlord.

 

16.            The
Premises shall not be used for lodging, sleeping or cooking or for any immoral or illegal purposes or for any purpose other than
that specified in the Lease. No gaming devices shall be operated in the Premises.

 

17.            Tenant
shall ascertain from Landlord the maximum amount of electrical current which can safely be used in the Premises, taking into account
the capacity of the electrical wiring in the Project and the Premises and the needs of other tenants, and shall not use more than
such safe capacity. Landlord’s consent to the installation of electric equipment shall not relieve Tenant from the obligation
not to use more electricity than such safe capacity.

 

18.            Tenant
assumes full responsibility for protecting the Premises from theft, robbery and pilferage.

 

19.            Tenant
shall not install or operate on the Premises any machinery or mechanical devices of a nature not directly related to Tenant’s
ordinary use of the Premises and shall keep all such machinery free of vibration, noise and air waves which may be transmitted
beyond the Premises.

 

20.            Tenant
shall cause any vendors and other service providers hired by Tenant to perform services at the Premises or the Project to maintain
in effect workers’ compensation insurance as required by Legal Requirements and commercial general liability insurance with
coverage amounts reasonably acceptable to Landlord.  Tenant shall cause such vendors and service providers to name Landlord
and Alexandria Real Estate Equities, Inc. as additional insureds under such policies and shall provide Landlord with certificates
of insurance evidencing the required coverages (and showing Landlord and Alexandria Real Estate Equities, Inc. as additional
insureds under such policies) prior to the applicable vendor or service provider providing any services to Tenant at the Project.

 

21.            Neither
Tenant nor any of the Tenant Parties shall have the right to photograph, videotape, film, digitally record or by any other means
record, transmit and/or distribute any images, pictures or videos of all or any portion of the Premises or the Project.

 

22.            Tenant
shall regularly review the guidelines published by the Centers for Disease Control (CDC) and any state and/or local Governmental
Agencies, and will implement the practices and procedures suggested thereby, as well as industry standard best practices, to prevent
the spread of Infectious Conditions, including, without limitation, COVID-19.

 

23.            Landlord
shall have the right to (a) require tenants to implement and enforce reasonable screening and tracking protocols intended
to identify and track the activity at the Project of employees, agents, contractors and visitors seeking access to or accessing
the Premises and or the Project exhibiting flu-like symptoms or symptoms consistent with those associated with any currently known
or unknown Infectious Conditions including, without limitation, COVID-19 (collectively, “Symptoms”), (b) require
tenant employees, agents, contractors and visitors to comply with reasonable screening and tracking protocols implemented by Landlord,
Landlord’s property manager and/or any operator of Project Amenities, intended to identify and track the activity at the
Project of individuals seeking access to or accessing the Premises or the Project (including the Project Amenities) exhibiting
Symptoms, (c) require tenants to implement and enforce protocols to prohibit individuals exhibiting Symptoms, from accessing
the Premises and/or the Project, (d) require tenants to immediately report to Landlord incidences of (i) tenant employees,
agents, contractors and visitors accessing the Premises or any portion of the Project while exhibiting Symptoms, and/or (ii) tenant
employees, agents, contractors and visitors known to have accessed the Premises or the Project being diagnosed with an Infectious
Condition including, without limitation, COVID-19.

 

     

     

    

	Rules and Regulations	825
                                         Industrial/Iovance Biotherapeutics - Page 3

 

24.            Landlord
may exclude or expel from the Project any person that has Symptoms associated with any currently known or unknown Infectious Condition
including, without limitation, COVID-19.

 

25.            Notwithstanding
anything to the contrary contained herein, if, at any time during the Term, Landlord becomes aware that any Tenant Party exhibiting
Symptoms and/or diagnosed with an Infectious Condition had access to the Premises or any portion of the Project (including, without
limitation, the Project Amenities), Tenant shall be responsible for any costs incurred by Landlord to perform additional or deep
cleaning of the Premises and/or the Common Areas of the Project or to take other measures deemed reasonably necessary or prudent
by Landlord which are intended to limit the spread of such Infectious Condition due to such Tenant Party’s presence at the
Project.

 

26.            Landlord
reserves the right to implement additional rules and regulations relating to access to the Premises, the Building and/or the
Project (including, without limitation, the Project Amenities) which are intended to promote and protect health and physical well-being
and/or intended to limit the spread of Infectious Conditions.

 

     

     

    

		825
                                         Industrial/Iovance Biotherapeutics - Page 1

 

EXHIBIT F TO LEASE

  

TENANT’S PERSONAL PROPERTY

 

None.

 

     

     

    

		825
                                         Industrial/Iovance Biotherapeutics - Page 1

 

EXHIBIT G TO LEASE

 

SIGNAGE

 

 

     

     

    

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                                         Industrial/Iovance Biotherapeutics - Page 2

 

  

     

     

    

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