Document:

EX-10.6

 Exhibit 10.6 

IP LICENCE AGREEMENT 

BIONOMICS LIMITED 

CARINA BIOTECH PTY LTD 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	 	  	Page
			
	1.	  	Definitions	  	1
			
	2.	  	Licence	  	5
			
	3.	  	Transfer of Licensor materials and information	  	6
			
	4.	  	Licensed Products	  	7
		  	4.1	  	Commercially Reasonable Efforts	  	7
		  	4.2	  	Regulatory Approvals	  	7
			
	5.	  	Payments	  	8
				
		  	5.1	  	No upfront fee	  	8
		  	5.2	  	Sublicence Fee	  	8
		  	5.3	  	Milestone Events and Milestone Payments	  	9
		  	5.4	  	Royalties	  	10
		  	5.5	  	Licensee records and Licensor audit	  	11
		  	5.6	  	Payments generally	  	12
			
	6.	  	Improvements	  	12
			
	7.	  	Subcontracting	  	12
			
	8.	  	Maintenance and claims	  	13
				
		  	8.1	  	Maintenance of Licensed IP	  	13
		  	8.2	  	Infringement by Licensed IP in the Field	  	13
		  	8.3	  	Action against either party	  	14
			
	9.	  	Confidentiality and privacy	  	14
				
		  	9.1	  	Confidentiality	  	14
		  	9.2	  	Exceptions	  	14
		  	9.3	  	Use of names and logos	  	15
		  	9.4	  	Privacy	  	15
		  	9.5	  	Survival	  	15
			
	10.	  	Warranties	  	15
				
		  	10.1	  	Warranties of Licensor	  	15
		  	10.2	  	Warranties of Licensee	  	16
			
	11.	  	Limitation on liability	  	16
			
	12.	  	Term and termination	  	17
				
		  	12.1	  	Term	  	17
		  	12.2	  	Early termination	  	17
		  	12.3	  	Consequences of early termination	  	17
		  	12.4	  	Right of first refusal for Licensee	  	18
		  	12.5	  	Expiry of Agreement	  	18

  
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	13.	 	Announcements	  	19
			
	14.	 	Insurance	  	19
			
	15.	 	GST	  	19
				
		 	15.1	  	GST Gross-up	  	19
		 	15.2	  	GST invoice	  	19
		 	15.3	  	Payment	  	19
		 	15.4	  	Reimbursements	  	19
		 	15.5	  	Adjustments	  	19
		 	15.6	  	Definitions	  	20
		 	15.7	  	Survival	  	20
			
	16.	 	Dispute resolution	  	20
				
		 	16.1	  	Notice of dispute	  	20
		 	16.2	  	Good faith negotiation	  	20
		 	16.3	  	Injunctive relief	  	20
			
	17.	 	Notices	  	20
				
		 	17.1	  	Giving of notices	  	20
		 	17.2	  	Change of details	  	21
		 	17.3	  	Effective on receipt	  	21
			
	18.	 	Assignment	  	22
			
	19.	 	Miscellaneous provisions	  	22
			
	20.	 	Interpretation rules	  	23
		
	 SCHEDULE 1 – Materials and Technical Information
	  	24
		
	 SCHEDULE 2 – Licensed Patents
	  	25
		
	 SCHEDULE 3 – Research & Development Plan
	  	26

  
 ii 

 [***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). ). Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed. 

IP LICENCE AGREEMENT 

DATED            18 NOVEMBER 2020 

PARTIES 
  

	(1)	 BIONOMICS LIMITED ABN 53 075 582 740 and BIONOMICS, INC a Delaware corporation both of 31
Dalgleish Street, Thebarton SA 5031 (“Licensor”); and 

  

	(2)	 CARINA BIOTECH PTY LTD ABN 43 613 276 074 of Level 2, Ian Wark Building, UniSA Mawson Lakes Campus,
Mawson Lakes SA 5095 (“Licensee”). 

 BACKGROUND 

 

	(A)	 Bionomics, Inc is a wholly owned subsidiary of Bionomics Limited and, together, they are the owners of the
Licensed Patents and Licensed Technology and Licensor under this Agreement. 

  

	(B)	 Licensor has agreed to license to Licensee the Licensed Patents and Licensed Technology on the terms set out in
this Agreement. 

 THE PARTIES AGREE 
  

	1.	 DEFINITIONS 

In this Agreement: 

“Annual Net Sales” has the meaning given in clause 5.4(a). 

“BNC101” means [***] 

“Business Day” means a day on which banks are open for normal business in Adelaide and excludes Saturdays, Sundays and
days that are public holidays in Adelaide. 
 “CAR” means chimeric antigen receptor. 

“Combination Product” means any product or application that comprises a Licensed Product and at least one additional or
co-administered ingredient or component that is not a Licensed Product. 
 “Commercially
Reasonable Efforts” means [***] 
 “Confidential Information” means any information which is by its
nature confidential or commercially sensitive and includes all technical, proprietary and operational information, drawings, techniques, processes, Know-how, methods of working, data and specifications, trade
secrets and other commercially valuable information of any kind, and the terms of this Agreement (and includes Licensor Know-how). 

“Corporations Act” means Corporations Act 2001 (Cth). 

“Data Exclusivity” means the period of protection or exclusivity rights that may be granted under the law of countries
in the Territory for clinical and related data provided to a regulatory authority to prove the safety and efficacy of a new pharmaceutical product. 

 “EU” means the member states of the European Union including the
United Kingdom. 
 “FDA” means the United States Food and Drug Administration, or any successor thereto, having the
administrative authority to regulate the marketing of human pharmaceutical products or biological therapeutic products, delivery systems and devices in the United States. 

“Field” means [***] 

“Insolvency Event” means, for a party, being in liquidation or provisional liquidation or under administration, having
a controller (as defined in the Corporations Act) or analogous person appointed to it or any of its property, being taken under section 459F(1) of the Corporations Act to have failed to comply with a statutory demand, being unable to pay or stops or
suspends or threatens to stop or suspend payment of its debts, entering into a compromise or arrangement with, or assignment for the benefit of, any of its members or creditors, or any analogous event. 

“Intellectual Property Rights” means all Confidential Information, Know-how and
industrial and intellectual property rights including, without limitation, any rights in respect of or in connection with any copyright, patents, trademarks, design rights or eligible layout rights (whether registered or not) and any rights to apply
for registration of any of the foregoing rights. 
 “Know-how” means
scientific, pre-clinical, clinical, regulatory, practical, manufacturing, marketing, financial, technical and commercial information and data (including knowledge, experience, inventions resulting from
experience and testing and processes), that is not generally available to the public (even though parts of it may be known), and whether communicated in writing or orally or by any other method (but excluding information disclosed in or claimed by a
Licensed Patent). 
 “Licence” means the licence granted to Licensee pursuant to clause 2(a). 

“Licensed IP” means Licensed Patents and Licensed Technology. 

“Licensed Patents” means: 

[***] 
 “Licensed
Product” means any good or application within the Field which applies, or is made according to, the Licensed IP or any part of it. 

“Licensed Technology” means [***] 

“Marketing Authorisation” means the required regulatory licence or authority under which a medicinal product may be
marketed and sold in a territory, arising from assessment of a party’s application dossier for marketing authorisation (such as, a New Drug Application (NDA) in the United States of America or Marketing Authorisation Application (MAA) in the
European Union and other countries). 

  
 2 

 “Materials and Technical Information” means materials, Know-how and technical information of Licensor that is useful or necessary to fully exercise and exploit Licensee’s rights under the Licence (including to utilise any disclosed Materials and Technical
Information) including as described in Schedule 1, but only to the extent owned by Licensor and which Licensor has a legal right to transfer. 

“Milestone Event” means each event set out in the table in clause 5.3(a). 

“Milestone Payment” means each payment set out in the table in clause 5.3(a) in respect of a Milestone Event. 

“Net Sales” means the gross amounts received for the sale of Licensed Products by Licensee (or by a Related Body
Corporate of Licensee) to a party or customer that is not an Related Body Corporate of Licensee, after deduction (if not previously deducted) of the following amounts to the extent related or allocable to the Licensed Product: 

[***] 

  
 3 

 “New Drug Application” or “NDA” means a New
Drug Application submitted to the FDA in the United States in accordance with the United States Federal Food, Drug, and Cosmetic Act, as amended, and the rules and regulations promulgated thereunder with respect to a pharmaceutical product or any
analogous application or submission with any regulatory authority outside of the United States. 
 “Phase 1 Clinical
Trial” means a human clinical trial to assess drug safety, that would satisfy the requirements of 21 C.F.R. 312.21(a) or the corresponding regulation in jurisdictions other than the United States. 

“Phase 2 Clinical Trial” means a human clinical trial of a pharmaceutical product to assess drug safety, tolerability,
pharmacokinetics and efficacy to generate sufficient data (if successful) to commence a Phase 3 Clinical Trial (or foreign equivalent) of such product, that would satisfy the requirements of 21 C.F.R. 312.21(b) or the corresponding regulation in
jurisdictions other than the United States. 
 “Phase 3 Clinical Trial” means the third phase of human clinical
trials of a pharmaceutical product to assess the efficacy and safety in a number of human patients sufficient to support the submission of an NDA to the FDA for such product, and that would satisfy the requirements of 21 C.F.R. 312.21(c) or the
corresponding regulation in jurisdictions other than the United States. 
 “Regulatory Approvals” means all required
permits, licences, approvals and authorisations from all regulatory authority(ies) having jurisdiction in a country necessary to commercially develop and exploit a Licensed Product as permitted under the Licence in that country, including, as
applicable, pricing approvals, Marketing Authorisation, Data Exclusivity, and manufacturing and import licences. 

  
 4 

 “Related Body Corporate” has the meaning given to that term in the
Corporations Act. 
 “Research & Development Plan” means the plan set out in Schedule 3
setting out the work to be undertaken, and a forecast timeline for that work, by the Licensee under this Agreement. 

“Royalty” or “Royalties” means the payments to Licensor under clause 5.4. 

“Sublicence Revenue” means all sub-license, partnering and collaboration income
received by Licensee from a third party, including Sublicensees, in connection with exploitation of the Licensed IP and Licensed Products, including income relating to the achievement of development milestones and royalty sales milestones and other
payments (upfront or option payments, commercial bonuses) but excluding any payments for research and development. 
 “Sublicence
Fees” has the meaning set out in clause 5.2(a). 
 “Sublicensee” means any person or entity,
including without limitation Related Bodies Corporate of Licensee, to which Licensee grants a sublicense under this Agreement in accordance with clause 2(b) provided that, “Sublicensee” does not include any distributor or customer that is
granted an express or implied sublicense to use or resell Licensed Product in connection with the sale of Licensed Product to such distributor or customer. 

“Term” has the meaning given in clause 12.1. 

“Territory” means worldwide. 
  

	2.	 LICENCE 

  

	 	(a)	 Subject to the terms of this Agreement, Licensor grants to Licensee an exclusive (even as to Licensor and its
Related Bodies Corporate) licence to the Licensed IP, to research and develop, make, have made, use, sell, offer for sale, supply, cause to be supplied, import and otherwise exploit Licensed Products in the Field in the Territory during the Term,
including the right to grant and authorise sublicenses (“Licence”). 

  

	 	(b)	 Licensee may sublicense the License provided that: 

 

	 	(i)	 the Licensee satisfies itself on reasonable grounds that each Sublicensee is solvent and has the commercial and
technical capability to perform its obligations under the sublicense; 

  

	 	(ii)	 each Sublicensee agrees to be bound by applicable terms and conditions of this Agreement, including an
acknowledgement from each Sublicensee that Licensor owns the Licensed IP; 

  

	 	(iii)	 if requested by the Licensor, provide written notice to the Licensor that clauses 2(b)(i) and (b)(ii) have been
complied with; 

  

	 	(iv)	 grant of any sublicense does not relieve Licensee from its obligations under this Agreement and Licensee will
be liable for acts and omissions of its Sublicensees; 

  
 5 

	 	(v)	 Licensee will remain liable for Milestone Payments and Royalties based on achievement of Milestone Events for,
or Net Sales of, Licensed Products by such Sublicensees; and 

  

	 	(vi)	 if this Agreement is terminated, any sublicensee will, from the date of termination, provided it is not in
breach of its sublicence, automatically become a direct licensee of Licensor with respect to the rights originally sublicensed to the Sublicensee by Licensee. 

 

	 	(c)	 Licensor retains all rights to use and exploit the Licensed IP in its absolute discretion in any field of use
other than the Field. 

  

	 	(d)	 Each party is solely responsible for obtaining and maintaining all permits, licenses and authorisations (if
any) required for performance by the party of its obligations under this Agreement in compliance with all applicable laws. 

  

	3.	 TRANSFER OF LICENSOR MATERIALS AND INFORMATION 

 

	 	(a)	 Promptly and by [***] following a written request by Licensee, Licensor will deliver to Licensee, at
Licensor’s cost, the Materials and Technical Information. 

  

	 	(b)	 During the Term, Licensor will notify Licensee in writing of any other, including any new, Materials and
Technical Information of Licensor which has not been delivered to Licensee. Promptly and by no later than [***] following a written request by Licensee, Licensor will deliver to Licensee, at Licensor’s cost, any such other Materials and
Technical Information. 

  

	 	(c)	 In addition to the transfer of Materials and Technical Information, Licensor will use reasonable endeavours to
promptly disclose to Licensee all data and associated information held by Licensor as at and following the date of this Agreement in respect of or relating to pre-clinical and clinical development of BNC101
(“BNC101 Data”). 

  

	 	(d)	 Licensor will procure appropriate Licensor personnel to meet and/or have discussions with Licensee personnel as
reasonably required by Licensee to convey Materials and Technical Information and/or BNC101 Data to Licensee. 

  

	 	(e)	 Except for the right to use Materials and Technical Information and BNC101 Data as contemplated by this
Agreement, no other right or license is granted by Licensor to Licensee with respect to Materials and Technical Information and/or BNC101 Data. 

  

	 	(f)	 Licensee must, in respect of all Materials and Technical Information, and BNC101 Data, disclosed to Licensee:

  

	 	(i)	 take commercially reasonable steps to preserve the confidentiality of it, and not release or distribute it
(other than to License’s Related Bodies Corporate, contractors and Sublicensees) without the prior written consent of Licensor; 

  

	 	(ii)	 use it solely for the purpose of exploiting the Licence or in the exercise of Licensee’s rights under this
Agreement; and 

  

	 	(iii)	 on termination of this Agreement, to the extent remaining in Licensee’s possession on termination, as
directed by Licensor by notice in writing to Licensee, promptly deliver to Licensor or destroy it. 

  
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	4.	 LICENSED PRODUCTS 

 

	4.1	 Commercially Reasonable Efforts 

 

	 	(a)	 Licensee has sole rights (at Licensee’s cost) to commercially develop and exploit Licensed Products
(directly or through its Related Bodies Corporate, contractors and Sublicensees) in accordance with the terms of this Agreement and all applicable laws, regulations and standards. 

 

	 	(b)	 Licensee will use Commercially Reasonable Efforts to commercially develop and exploit Licensed Products in each
country in the Territory in which Licensee obtains all required Regulatory Approvals for such Licensed Product. 

  

	 	(c)	 Licensor expressly acknowledges and agrees that assessment of Licensee’s use of Commercially Reasonable
Efforts will take into account that such efforts: 

  

	 	(i)	 may result in ceasing the development or exploitation of a Licensed Product; 

 

	 	(ii)	 may be adversely affected by Licensor’s failure to perform its obligations under this Agreement; and

  

	 	(iii)	 will be impacted by scientific, technical, operational and commercial factors in effect at the time, including,
for example, actual and projected development or exploitation costs and timelines, the regulatory environment and requirements, present and future market potential, strength and duration of patent protection and internal priorities.

  

	 	(d)	 Licensee has, at its cost, absolute discretion regarding all trademarks, trade names and branding used in
connection with the development and exploitation of Licensed Products (“Licensee Branding”). All Licensee Branding will be owned solely by Licensee and Licensor will not use nor register in any Territory any trademarks, trade names
or branding that is similar to any Licensee Branding. 

  

	 	(e)	 From the date of this Agreement until the date of the first Royalty payment to Licensor, the Licensee shall
carry out work under the Research & Development Plan. The Licensee shall review and revise the Research & Development Plan as necessary and promptly (and by no later than the first following [***] report under paragraph
(f) below) provide the Licensor with a copy. 

  

	 	(f)	 Each [***] between the date of this Agreement and the date of the first Royalty payment to Licensor, Licensee
will provide Licensor with a written report detailing Licensee’s progress made on, and any material developments with respect to, the Research & Development Plan during the preceding [***] 

 

	4.2	 Regulatory Approvals 

 

	 	(a)	 Licensee will have sole rights to apply for and secure and maintain (at its cost) all Regulatory Approvals for
all Licensed Products. 

  

	 	(b)	 Licensor will provide such assistance as Licensee may reasonably request from time to time, for the purposes of
Licensee obtaining Regulatory Approvals, including disclosing to Licensee information in the possession, or readily available to, Licensor, which Licensee 

  
 7 

	 	
does not possess or have readily available to it, that is necessary for any Regulatory Approval filing (and Licensee is entitled to use such Information to support any Regulatory Approval filing
made in respect of Licensed Products). 

  

	 	(c)	 As between the parties, Licensee will be responsible for all communications with regulatory authorities, and
for managing all complaints and communications, in relation to the Licensed Products. 

  

	5.	 PAYMENTS 

  

	5.1	 No upfront fee 

The parties acknowledge and agree there is no upfront fee or payment of any nature payable by Licensee for the Licence or for any other rights
under this Agreement. 
  

	5.2	 Sublicence Fee 

 

	 	(a)	 Subject to the terms of this Agreement, including clause 5.2(c), in the event of
Sub-license Licensee will pay to Licensor [***]% of all Sublicence Revenue (“Sublicence Fees”). 

  

	 	(b)	 Licensee must pay Sublicence Fees to Licensor not later than [***] after receipt of Sublicence Revenue by
Licensee and, together with each payment of Sublicence Fees, provide Licensor with a written statement of the Sublicence Revenue giving rise to the Sublicence Fee. 

If Licensee in its discretion accesses after the date of this Agreement Enhancement Technology (as defined below) for the purposes of Licensee fully
exercising and exploiting Licensee’s rights under the Licence, then the Sublicense Fee will be reduced by [***] 
  

	 	(c)	 % for each Enhancement Technology used in a Licensed Product the subject of Sublicence Revenue, provided that
the Sublicense Fee will not be reduced below: 

  

	 	(i)	 [***]% of Sublicence Revenue to [***]; 

 

	 	(ii)	 [***]% of Sublicence Revenue to [***]; and 

 

	 	(iii)	 [***]% of Sublicence Revenue for [***]. 

 

	 	(d)	 In this clause, “Enhancement Technology” means [***] 

  
 8 

	5.3	 Milestone Events and Milestone Payments 

 

	 	(a)	 Subject to the terms of this Agreement, on achievement by Licensee, Licensee will pay to Licensor the following
lump sum milestone payments (“Milestone Payments”) on achievement of the following milestone events (Milestone Events) by the first Licensed Product only to achieve each Milestone Event: 

 

					
	 Milestone Event
	  	Milestone
Payment	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 

  

	 	(b)	 For each Milestone Event achieved by Licensee, Licensee will within [***] of achieving the Milestone Event,
provide to Licensor a written statement of achieving the Milestone Event and, subject to the following, pay to Licensor the corresponding Milestone Payment. 

  

	 	(c)	 For the avoidance of doubt, each Milestone Payment is payable once only in respect of the first Licensed
Product to first achieve the corresponding Milestone Event. No Milestone Payment is payable in respect of any subsequent achievement of the corresponding Milestone Event by any other Licensed Product, or by the Licensed Product that originally
achieved the Milestone Event in respect of any other indication or use. 

  

	 	(d)	 [***]. 

  
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	5.4	 Royalties 

  

	 	(a)	 Subject to the terms of this Agreement, including this clause 5.4, Licensee will pay Licensor royalties in the
amount of the royalty rates set out below (“Royalty Rates”) on the aggregate Net Sales resulting from the sale of each Licensed Product in each country in the Territory during each calendar year of the applicable Term for each
Licensed Product in each country in the Territory (each, the Annual Net Sales): 

  

			
	 Per Licensed Product Annual Net Sales Per Country
	  	Royalty Rate
(% of Per Licensed
Product Annual Net
Sales)
	 Annual Net Sales above $[***], up to and including $[***]
	  	[***]
	 Annual Net Sales above $[***]
	  	[***]
	 Annual Net Sales above $[***]
	  	[***]

  

	 	(b)	 The following applies to payment of Royalties under this Agreement: 

 

	 	(i)	 Each Royalty Rate in the table above applies only to that portion of the Net Sales of a given Licensed Product
in a given country in the Territory during a given calendar year that falls within the indicated range (by way of example, if Licensee receives [***] of Annual Net Sales in a given calendar year for a given Licensed Product in a given country in the
Territory, then Licensee will pay Licensor a Royalty of [***] for such Licensed Product for such country for such calendar year). 

  

	 	(ii)	 Payment of Royalties must be made by Licensee to Licensor quarterly in arrears following the first disposition
for value of a Licensed Product by Licensee (or its Related Bodies Corporate or Sublicensees), calculated on Annual Net Sales for that quarterly period, within [***] of the end of that quarterly period. 

 

	 	(iii)	 With each [***] payment, Licensee must give Licensor a written statement setting out: 

 

	 	(A)	 the Net Sales in the relevant quarterly period on a Licensed Product by Licensed Product and country by country
basis, including any applicable deductions applied in the calculation of Net Sales; and 

  

	 	(B)	 the Royalty payable by Licensee to Licensor for that quarterly period. 

 

	 	(iv)	 Only one Royalty is payable with respect to the same unit of Licensed Product. 

 

	 	(v)	 If Licensee receives non-cash consideration in connection with
commercial exploitation of Licensed Product, Licensee will advise Licensor of the non-cash consideration and Licensee’s assessment of the fair market value, and the parties will account for the
transaction under this Agreement on a cash equivalent basis as mutually agreed in good faith. 

  

	 	(vi)	 If Licensee: 

  

	 	(A)	 reasonably determines that, in order to avoid infringement of existing third party rights in issued patents and
pending patent applications in respect of any commercial development or exploitation of Licensed Product in any country (“FTO Blocking Right”), it is necessary to obtain a license from such third party in respect of such FTO
Blocking Right and pay a royalty or other consideration under such license; or 

  
 10 

	 	(B)	 is subject to a final binding order or ruling, or binding settlement agreement, requiring the payment of a
royalty or other consideration to any third party holder of a FTO Blocking Right in respect of any sales of Licensed Product in any country as a result of infringement of such FTO Blocking Right, 

(“FTO Payments”) Licensee will be responsible for all FTO Payments, but the amount of Royalty payable with respect to Annual
Net Sales of such Licensed Product in such country will be reduced by [***]% of the amount of any FTO Payments in such country, provided that Royalties will not be reduced below: 

 

	 	(C)	 [***]% for Annual Net Sales above $[***], up to and including $[***]; 

 

	 	(D)	 [***]% for Annual Net Sales above $[***], up to and including $[***]; and 

 

	 	(E)	 [***]% Annual Net Sales above $[***], 

and if there is any amount of FTO Payment not offset against Royalty payments as a result of the limitations set out above, that amount may be
carried over and offset against future Royalty payments until the full offset is realised (subject in all respects to the overriding limitations set out above). 
  

	5.5	 Licensee records and Licensor audit 

 

	 	(a)	 Licensee must keep records [***] 

 

	 	(b)	 For so long as the Royalty is payable and for [***] thereafter, Licensor will have the right on reasonable
prior written notice to Licensee (and during Licensee’s normal business hours), exercisable not more than [***] to cause an independent certified public accountant (“Auditor”) to inspect the Royalty Records of Licensee for the
purposes of identifying any overpayment or underpayment of Royalties to Licensor. 

  

	 	(c)	 The parties will reconcile any underpayment or overpayment within [***] after the results of the audit are
determined by Licensor or delivered to Licensor by the Auditor. 

  

	 	(d)	 If any audit performed under this clause reveals an underpayment in excess of [***]% in any calendar year for
the Royalty, Licensee must reimburse Licensor for all amounts Licensor incurred in connection with procuring such audit to occur. For any audit performed under this clause that reveals no underpayment in excess of [***] percent in any calendar year
for the Royalty, all costs of the Auditor will be borne by Licensor. 

  

	 	(e)	 The rights of Licensor under this clause 5.5 survive termination to the extent that Royalty payments are or may
be payable after termination of this Agreement. 

  

	 	(f)	 Any sublicense of the License granted by Licensee pursuant to this Agreement must include a requirement on the
Sublicensee to keep records of sales made pursuant to such sublicense and to grant access to such records by Licensee’s independent accountant to the same extent required of Licensee under this Agreement. 

 

	 	(g)	 Licensor must keep all information subject to review under this clause 5.5 or under any sublicense granted by
Licensee confidential in accordance with clause 9, and must procure the Auditor to enter into a confidentiality agreement with Licensee (or its Sublicensees) obligating the Auditor to keep all such information confidential pursuant to such
agreement. 

  
 11 

	5.6	 Payments generally 

 

	 	(a)	 Amounts expressed in this Agreement are exclusive of GST. If GST is payable on or in respect any amount payable
under this clause, clause 15 applies. 

  

	 	(b)	 All payments made by Licensee to Licensor under this Agreement will be in Australian dollars by bank transfer
to such bank account as nominated by Licensor in writing from time to time. 

  

	 	(c)	 Licensee will make all payments due to Licensor under this Agreement without deduction or withholding for taxes
except to the extent that any such deduction or withholding is required by law. Any such tax required to be withheld will be borne by Licensor and Licensee will not be required to gross-up any such payments.

  

	6.	 IMPROVEMENTS 

  

	 	(a)	 In this clause, “Improvement” means [***] 

 

	 	(b)	 Any Improvement created by or on behalf of Licensor during the Term will be owned by Licensor and will be
included under and as part of the Licensed IP, such that the Licence will include a licence to use any such Improvement. 

  

	 	(c)	 Licensor will inform Licensee in writing within [***] of an Improvement being created by or on behalf of the
Licensor during the Term. 

  

	 	(d)	 Any Improvement created by or on behalf of Licensee during the Term will be owned by Licensee.

  

	 	(e)	 Any Improvement created by or on behalf of Licensor and Licensee jointly will be owned by Licensor and Licensee
jointly (unless agreed otherwise by the parties in writing), and each party grants the other party a non-exclusive, irrevocable, worldwide, royalty-free licence (which survives termination or expiration of
this Agreement) to use any such Improvement. 

  

	 	(f)	 Licensee shall have sole discretion whether to file a patent application in any jurisdiction for any
Improvement patent and, where the Improvement patent is created by or on behalf of Licensor, or by or on behalf of Licensor and Licensee jointly, will provide the Licensor with written notice if the Licensee elects not to file a patent application
sufficiently in advance of any deadline for any filing to permit Licensor to carry out such filing (if it elects to do so). 

  

	7.	 SUBCONTRACTING 

 

	 	(a)	 Licensee may subcontract its activities under this Agreement to any third party provided that each subcontract:

  

	 	(i)	 requires the subcontractor to keep all Licensor Confidential Information confidential in accordance with the
confidentiality obligations in clause 9; 

  
 12 

	 	(ii)	 prohibits any further subcontracting without Licensee’s prior consent; and 

 

	 	(iii)	 requires performance of activities in accordance with all relevant provisions of this Agreement (including
related to ownership of Intellectual Property Rights). 

  

	 	(b)	 To the extent Licensee subcontracts any of its activities under this Agreement, Licensee will be responsible
for the performance of such subcontractor and will remain liable to Licensor for the full and proper performance of any subcontracted activities. The subcontracting of work by Licensee will not create any kind of contractual relationship between
Licensor and the subcontractor (unless otherwise required by law). 

  

	8.	 MAINTENANCE AND CLAIMS 

 

	8.1	 Maintenance of Licensed IP 

 

	 	(a)	 Subject to clause 8.2: 

 

	 	(i)	 Licensor will prosecute, maintain and defend the Licensed Patents at Licensor’s expense.

  

	 	(ii)	 If Licensor elects not to prosecute, maintain or defend any Licensed Patent in any jurisdiction, Licensor must
provide Licensee with written notice of such election sufficiently in advance of any deadline for any filing to permit (but not oblige) Licensee to carry out the activity (“Licensor Election”). 

 

	 	(iii)	 In response to any Licensor Election, Licensee may elect (by written notice to Licensor) to prosecute, maintain
or defend any Licensed Patent in any jurisdiction (“Licensee Election”), in which case, ownership of the Licensed Patent(s) under the Licensee will be assigned by Licensor to Licensee for nil consideration. 

 

	 	(iv)	 Each party (as applicable) must provide such assistance, including executing documents, as reasonably requested
by the other party, at the other party’s expense, to permit the other party to prosecute, maintain or defend such Licensed Patents in such jurisdiction. 

  

	 	(b)	 Licensor must not assign, transfer, encumber or otherwise deal in any way with, in whole or in part any
Licenced IP (other than under this Agreement) without the prior written consent of Licensee. Any such assignment, transfer, encumbrance or dealing by Licensor without Licensee’s prior written consent is void and of no effect.

  

	8.2	 Infringement by Licensed IP in the Field 

 

	 	(a)	 Each party will inform the other party immediately on becoming aware of a claimed, suspected or threatened
infringement of any of the Licenced IP, or a claim by a third party that exploitation of any of the Licenced IP infringes the Intellectual Property Rights of a third party (“Infringement Claim”). 

 

	 	(b)	 Licensor will take action in relation to any Infringement Claim. If Licensor takes such action, Licensee will
give Licensor reasonable assistance required by Licensor in relation to the action, at Licensee’s cost. Licensor will have sole control of the proceedings, but 

  
 13 

	 	
must not make any admission nor compromise or settle any claim in a manner that would be, or might reasonably be considered to be, adverse to Licensee’s rights and interests, without
Licensee’s prior written consent, not to be unreasonably delayed, withheld or conditioned. 

  

	8.3	 Action against either party 

 

	 	(a)	 If action is taken by any third party against Licensor or Licensee alleging infringement of a third
party’s Intellectual Property Rights in connection with any of the Licenced IP then: 

  

	 	(i)	 the party against whom the action is taken will be responsible for defending the action; and

  

	 	(ii)	 the other party will provide all reasonable assistance requested by the defending party, at the defending
party’s cost, 

 provided however that neither party may admit or acknowledge infringement or otherwise compromise its
case without the prior written consent of the other party. 
  

	9.	 CONFIDENTIALITY AND PRIVACY 

 

	9.1	 Confidentiality 

Each party undertakes, except to the extent expressly permitted otherwise by, or required to ensure compliance with the obligations imposed on
it pursuant to, this Agreement: 
  

	 	(a)	 to maintain the confidentiality of Confidential Information disclosed to it (“Receiving
Party”) and not disclose it or any part of it or use it without written authority of the other party (“Disclosing Party”); 

  

	 	(b)	 not to appropriate, copy or in any way reproduce any of the Confidential Information for itself or any third
party; and 

  

	 	(c)	 on termination of this Agreement and at the Disclosing Party’s written request, to return to the
Disclosing Party or destroy (as directed by the Disclosing Party) any or all documents or other material containing Confidential Information, unless otherwise agreed in writing between the parties. 

 

	9.2	 Exceptions 

Clause 9.1 does not apply to information which: 
  

	 	(a)	 at the time of disclosure is already in the public domain; 

 

	 	(b)	 becomes available to the public by any means other than breach of this Agreement by the Receiving Party;

  

	 	(c)	 is received by a party from an independent third party who is lawfully in possession and has the power and
authority to disclose that information; or 

  

	 	(d)	 is required to be disclosed by law or by a lawful requirement of any government or governmental body, authority
or agency having authority over the Disclosing Party, including the rules of the Australian Stock Exchange, or is required to be disclosed in connection with legal proceedings, in which case the party required to make the disclosure will provide the
other party with full details of the required disclosure prior to making the disclosure if legally permitted to do so otherwise at the earliest opportunity. 

  
 14 

	9.3	 Use of names and logos 

Neither party may use the name or logo of the other party without the prior written consent of that other party. 

 

	9.4	 Privacy 

Each party must comply with the Privacy Act and all other privacy laws to the extent applicable to the activities of the party under or
pursuant to this Agreement. 
  

	9.5	 Survival 

The parties’ rights and obligations under this clause 9 survive termination or expiration of this Agreement. 

 

	10.	 WARRANTIES 

  

	10.1	 Warranties of Licensor 

Licensor represents, warrants and undertakes to Licensee that: 
  

	 	(a)	 Licensor is duly incorporated and validly existing under the laws of Australia; 

 

	 	(b)	 Licensor is permitted by its constitution and all laws and other obligations applicable to it to enter into and
perform its obligations under this Agreement; 

  

	 	(c)	 as at the date of this Agreement, Licensor is not the subject of an Insolvency Event; 

 

	 	(d)	 Licensor will comply with all applicable laws, regulations and standards (including obtaining and maintaining
all licenses, authorisations, and permits necessary under all applicable laws), in relation to all activities undertaken by it under this Agreement; 

  

	 	(e)	 Licensor is the owner of the Licensed IP and has the right to grant the Licence; 

 

	 	(f)	 other than the Licensed Patents, Licensor does not own or have any rights in or to any patent or patent
applications relevant to development or exploitation of any LGR5 antibody in the Field; 

  

	 	(g)	 to the best of Licensor’s knowledge: 

 

	 	(i)	 the Licensed Patents are valid and enforceable patents; 

 

	 	(ii)	 the use or exploitation of the Licence IP or any part of it in the Field, including to research, develop, make,
have made, use, sell, offer for sale, supply, cause to be supplied, import and otherwise exploit Licensed Products, does not and will not infringe, or constitute misappropriation of, the Intellectual Property Rights of any third party; and

  

	 	(iii)	 no third party is infringing or misappropriated, or has challenged the ownership, scope, duration, validity,
enforceability, priority or right to use, of any Licensed IP; 

  
 15 

	 	(h)	 Licensor has, and during the Term will have, a policy requiring all employees, officers, contractors and
consultants to execute agreements requiring assignment to Licensor of all inventions made during the course of and as a result of their association with Licensor and keep confidential all Licensor confidential information it receives;

  

	 	(i)	 Licensor has not granted, and during the Term will not grant, any right, option, license or interest in or to
any of the Licensed IP that is in conflict with the rights granted to Licensee under this Agreement; 

  

	 	(j)	 Licensor has not received any written communications of pending or threatened claims against it relating to
infringement of any Intellectual Property Rights of any third party by means of the practice or use of Licensed IP; 

  

	 	(k)	 there is no legal claim, judgment or settlement against or owed by, or any order, or decree of any governmental
authority against, Licensor relating to any Licensed IP or the transactions contemplated by this Agreement; 

  

	 	(l)	 other than Licensee under this Agreement, no person (including any Related Body Corporate of Licensor) has any
right, interest or claim in or to use of any Licensed IP in the Field; 

  

	 	(m)	 Licensor (and its Related Bodies Corporate) have not entered into any agreement granting any right, interest or
claim in or to, use of any Licensed IP in the Field to any third party (other than Licensee); and 

  

	 	(n)	 Licensor will not by any act or omission adversely impact the rights of Licensee under this Agreement.

  

	10.2	 Warranties of Licensee 

Licensee represents, warrants and undertakes to Licensor that: 
  

	 	(a)	 [***] 

  

	 	(b)	 [***] 

  

	 	(c)	 [***] 

  

	 	(d)	 [***] 

  

	 	(e)	 [***] 

  

	 	(f)	 [***] 

  

	11.	 LIMITATION ON LIABILITY 

 

	 	(a)	 Despite any other provision of this Agreement, the liability of a party under or pursuant to this Agreement:

  

	 	(i)	 excludes any liability for any special, indirect, incidental or consequential loss or damage whatsoever and
howsoever arising, including any loss of business or production, or loss of actual or anticipated profit or revenue; and 

  
 16 

	 	(ii)	 is reduced to the extent that the other party caused or contributed to the liability. 

 

	 	(b)	 Each party waives any rights to make any claim against the other party to the extent they are inconsistent with
this clause 11. 

  

	 	(c)	 The limitation of a party’s liability under clause 11(a) does not apply to the extent the liability:

  

	 	(i)	 arises from fraud or wilful misconduct of the party; 

 

	 	(ii)	 arises from a breach of confidentiality by the party; or 

 

	 	(iii)	 relates to personal injury or death. 

 

	 	(d)	 The provisions of this clause 11 will survive the termination of this Agreement. 

 

	12.	 TERM AND TERMINATION 

 

	12.1	 Term 

The term of this Agreement commences on the date of this Agreement and, unless terminated earlier in accordance with clause 12.1(b), continues
until the last to occur of (“Expiry”): 
  

	 	(a)	 the expiry of all Licensed Patents having a valid claim covering Licensed Products; and 

 

	 	(b)	 the expiry of all Data Exclusivity relating to Licensed Products, 

(“Term”). 
  

	12.2	 Early termination 

 

	 	(a)	 This Agreement may be terminated by agreement in writing between the parties. 

 

	 	(b)	 Licensee may terminate this Agreement without cause on [***] written notice to Licensor. 

 

	 	(c)	 A party may terminate this Agreement for cause by notice in writing to the other party where:

  

	 	(i)	 the other party fails to remedy a material breach of this Agreement (including any breach of a warranty set out
in clause 10) within [***] of notice in writing requiring the breach to be remedied; or 

  

	 	(ii)	 (to the extent permitted by law) the other party is the subject of an Insolvency Event. 

 

	12.3	 Consequences of early termination 

 

	 	(a)	 On early termination of this Agreement under clause 12.2: 

 

	 	(i)	 the Licence will terminate and Licensee must cease carrying on the activities authorised under the Licence,
other than as permitted in paragraph (ii) below; and 

  
 17 

	 	(ii)	 Licensee will be entitled to sell stocks of Licensed Products in existence at the date of early termination
under clause 12.1 for a period of [***] from the date of such early termination (and clauses 5.3 and 5.4 will continue to apply to any Annual Net Sales received from such sales). 

 

	 	(b)	 The termination of this Agreement, no matter how arising, will not affect the rights and obligations of the
parties accrued as at the date of termination. 

  

	12.4	 Right of first refusal for Licensee 

In the event of a Licensor Insolvency Event or, without Licensee’s prior written consent, a change in or to the Control (as defined in
section 50AA of the Corporations Act) of Bionomics, Inc or Bionomics, Inc ceasing to operate or to be in good standing under Delaware law, Licensee will have a right of first refusal (but not an obligation) to purchase some or all of the Licensed IP
(“First Right”) as follows: 
  

	 	(a)	 Licensor (or its authorised representative) must not offer any other person any rights with respect to any
Licensed IP without first completing the following process. 

  

	 	(b)	 Licensor (or its authorised representative) must promptly notify Licensee in writing of the event triggering
the First Right (“First Right Notice”). 

  

	 	(c)	 Licensee will have [***] from receipt to respond to the First Right Notice to give notice to Licensor
exercising the First Right. 

  

	 	(d)	 For a period of up to [***] after Licensee gives notice exercising its First Right, the parties will, acting
reasonably and in good faith, negotiate a mutually acceptable agreement for purchase of some or all of the Licensed IP by Licensee. The price to be negotiated between the parties will reflect the fair market value of the Licensed IP or relevant part
thereof. 

  

	 	(e)	 If: 

  

	 	(i)	 Licensee does not respond within the [***]; 

 

	 	(ii)	 Licensee responds indicating it elects not to exercise the First Right; or 

 

	 	(iii)	 the parties fail to agree a definitive agreement within the [***], 

Licensor may sell the Licensed IP to other parties, provided however that Licensor must not sell or offer to sell any Licensed IP to any third
party on terms more favourable than offered by Licensor to Licensee, or offered by Licensee to Licensor, without first offering such more favourable terms to Licensee (and the procedure in this clause will be repeated). 

 

	12.5	 Expiry of Agreement 

On the Expiry as defined in clause 12.1 (but not on termination) of this Agreement, Licensee will have full rights to continue to develop and
exploit the Licensed IP and Licensed Products without further obligation to pay a Sublicence Fee, Milestone Payment or Royalty. 

  
 18 

	13.	 ANNOUNCEMENTS 

A public announcement in connection with this Agreement or a matter contemplated by it must be agreed by the parties before it is made (such
agreement not to be unreasonably withheld or delayed), except if the announcement is required to be made by law or by a lawful requirement of any government or governmental body, authority or agency having authority over the party making it,
including the rules of the Australian Stock Exchange, or is required to be made in connection with legal proceedings, in which case the party required to make the announcement will provide the other party with full details of the required
announcement prior to making it if legally permitted to do so otherwise at the earliest opportunity. 
  

	14.	 INSURANCE 

Each party must hold appropriate insurance policies, for prudent levels of insurance cover and with reputable insurance firms, having regard to
the activities of the party under or pursuant to this Agreement. 
  

	15.	 GST 

  

	15.1	 GST Gross-up 

If a party (the “supplier”) is required to pay GST in respect of a supply made under, or pursuant to, or by reason of a breach
of, this Agreement, the recipient of the supply must (in addition to any other payment for, or in connection with, the supply) pay to the supplier an amount equal to such GST (“GST gross-up”).

  

	15.2	 GST invoice 

If a GST gross-up is payable, then the supplier will give the recipient a valid tax invoice for the
supply. 
  

	15.3	 Payment 

Provided a valid tax invoice has been given, the GST gross-up must be paid by the recipient: 

 

	 	(a)	 if any monetary consideration is payable for the supply, at the same time and in the same manner as such
monetary consideration; 

  

	 	(b)	 if no monetary consideration is payable for the supply within [***] after the day on which the tax invoice is
given. 

  

	15.4	 Reimbursements 

If any payment to be made to a party under or in connection with this Agreement is a reimbursement or indemnification of an expense or other
liability incurred or to be incurred by that party, then the amount of the payment must be reduced by the amount of any input tax credit to which that party is entitled for that expense or other liability, such reduction to be effected before any
increase in accordance with clause 15.1. 
  

	15.5	 Adjustments 

If an adjustment event has occurred in respect of a supply made under or in connection with this Agreement, any party that becomes aware of the
occurrence of that adjustment event must notify 

  
 19 

 
the other party as soon as practicable, and the parties agree to take whatever steps are necessary (including to issue an adjustment note), and to make whatever adjustments are required, to
ensure that any GST or additional GST on that supply, or any refund of GST (or part thereof), is paid no later than [***] after the supplier first becomes aware that the adjustment event has occurred. 

 

	15.6	 Definitions 

  

	 	(a)	 Terms used in this clause which are defined in the A New Tax System (Goods and Services Tax Act 1999
(Cth)) have the meaning given to them in that Act. 

  

	 	(b)	 In this clause, a reference to a payment includes any payment of money and any form of consideration other than
payment of money. 

  

	 	(c)	 In this Agreement, all references to payments and obligations to make payments, including all references to
compensation (including by way of reimbursement or indemnity), are, but for the operation of this clause, exclusive of GST. 

  

	15.7	 Survival 

The parties’ rights and obligations under this clause survive termination or expiry of this Agreement. 

 

	16.	 DISPUTE RESOLUTION 

 

	16.1	 Notice of dispute 

If any dispute arises in connection with this Agreement, the party requiring it to be resolved must promptly give the other party written
notice identifying, and giving details of, the dispute. 
  

	16.2	 Good faith negotiation 

 

	 	(a)	 Within [***] of a party receiving the notice referred to in clause 16.1, or such longer period agreed on by the
parties, the chief executive officers (or equivalent) of the parties must meet and, in good faith, attempt to resolve the dispute by negotiation for a period of not less than [***] 

 

	 	(b)	 In the event that the parties are unable to reach a resolution of the dispute by negotiation within the period
referred to in paragraph (a) above, either party may by notice in writing to the other (“Dispute Notice”) advise the other party that it seeks to commence legal proceedings to have the dispute resolved. 

 

	16.3	 Injunctive relief 

Nothing contained in this clause 16 will deny any party the right to seek injunctive relief from an appropriate court where failure to obtain
such relief would cause irreparable damage to the party concerned. 
  

	17.	 NOTICES 

  

	17.1	 Giving of notices 

  
 20 

 A notice, approval, direction, consent, offer, demand or other communication in connection
with this Agreement may be: 
  

	 	(a)	 in writing; 

  

	 	(b)	 signed by an authorised officer of the relevant party; and 

 

	 	(c)	 given to the recipient party: 

 

	 	(i)	 by hand delivery to the address of the recipient party set out below; 

 

	 	(ii)	 by pre-paid mail sent to the address of the recipient party set out
below; or 

  

	 	(iii)	 by email transmission to the email address of the recipient party set out below, 

and in each case must be marked for the attention of the person specified below in relation to the recipient party: 

Licensor 
  

			
	Name:	  	Bionomics Limited
		
	Address:	  	31 Dalgleish Street, Thebarton SA 5031
		
	Attention:	  	Legal Counsel & Company Secretary, [***]
		
	Email:	  	[***]

 Licensee 
  

			
	Name:	  	Carina Biotech Pty Ltd
		
	Address:	  	Level 2, Ian Wark Building, UniSA Mawson Lakes Campus, Mawson Lakes SA 5095
		
	Attention:	  	Chief Executive Officer – Dr Deborah Rathjen
		
	Email:	  	[***]

  

	17.2	 Change of details 

 

	 	(a)	 A party may from time to time change any of the details specified above by not less than five Business Days
notice to each other party. 

  

	 	(b)	 If details are changed in accordance with this clause, this clause applies as if those changed details were set
out above. 

  

	17.3	 Effective on receipt 

Unless proved to the contrary, notice given in accordance with clause 17.1 takes effect when taken to be received (or at a later time as
specified in it), and is taken to be received: 
  

	 	(a)	 if hand delivered, on delivery; 

 

	 	(b)	 if sent by pre-paid mail, on the sixth Business Day after the date of
posting (or on the seventh Business Day after the date of posting if posted to or from a place outside Australia); and 

  
 21 

	 	(c)	 if sent by email transmission, when the sender’s email system confirms the time of sending of the email
(unless the sender receives a delivery failure notification indicating the email has not been delivered to the addressee), 

but if the delivery, receipt or transmission is not on a Business Day or is after 5 pm on a Business Day, the notice is taken to be received at
9 am on the next Business Day. 
  

	18.	 ASSIGNMENT 

  

	 	(a)	 Each party has the right to extend the rights granted in this Agreement to one or more of its Related Bodies
Corporate provided that each party remains solely responsible for the performance of its Related Bodies Corporate and liable to the other party for any acts or omissions of its Related Bodies Corporate. 

 

	 	(b)	 Subject to: 

  

	 	(i)	 paragraph (a) above; and 

 

	 	(ii)	 the rights of Licensee under this Agreement to subcontract and sublicence its rights under this Agreement,

 neither party may assign its rights under this Agreement other than with the prior written consent of the other party.
Any such assignment without prior written consent is void and of no effect. 
  

	 	(c)	 This Agreement is binding on, and inures to the benefit of, the parties and their permitted successors and
assigns. 

  

	19.	 MISCELLANEOUS PROVISIONS 

 

	 	(a)	 A party’s failure or delay to exercise a power or right is not a waiver of that right, and the exercise of
a power or right does not preclude the future exercise of that or any other power or right. A waiver of a power or right must be in writing and signed by the party giving the waiver. 

 

	 	(b)	 This Agreement is the entire agreement between the parties as to its subject matter. It supersedes all prior
agreements, representations, conduct and understandings. 

  

	 	(c)	 No amendment of, nor addition to, this Agreement is binding unless it is in writing and executed by the parties
to this Agreement. 

  

	 	(d)	 The law of this Agreement is the State of South Australia, and the parties submit to the non-exclusive jurisdiction of the courts of South Australia. 

  

	 	(e)	 Each party will bear its own costs in relation to the negotiation and preparation of this Agreement.

  

	 	(f)	 The parties will do all things and execute all documents required to permit or facilitate the performance of
the transactions contemplated by this Agreement. 

  

	 	(g)	 This Agreement may be executed in counterparts, which when taken together are one instrument.

  
 22 

	 	(h)	 If a clause or a part of a clause of this Agreement is found to be invalid or unenforceable (whether in respect
of a party or generally), it will be severed from this Agreement and this Agreement will otherwise continue in force. 

  

	 	(i)	 A party’s rights and obligations do not merge on completion of any transaction under this Agreement.

  

	 	(j)	 Except where this Agreement expressly states otherwise, this Agreement does not create a relationship of
employment, trust, agency or partnership between the parties. 

  

	 	(k)	 Any obligation of confidentiality under this Agreement is independent from the other obligations of the parties
and survives termination or expiration of this Agreement. Any other term in this Agreement which is expressed to, or by its nature is intended to, survive termination or expiration of this Agreement (including this clause 19(k)), survives
termination of expiration of this Agreement. 

  

	20.	 INTERPRETATION RULES 

In this Agreement, unless a contrary intention appears: 
  

	 	(a)	 a reference to this Agreement or any other document is a reference to this Agreement or other document as
amended, varied, novated, supplemented or replaced from time to time; 

  

	 	(b)	 words or expressions importing the singular include the plural and vice versa or denoting individuals include
corporations, firms, unincorporated bodies, authorities and instrumentalities; 

  

	 	(c)	 a reference to a party to this Agreement or any other instrument includes that party’s executors,
administrators, successors and permitted assigns; 

  

	 	(d)	 where a word or phrase is defined or given meaning, any other part of speech or grammatical form has a
corresponding meaning; 

  

	 	(e)	 any heading, index, table of contents or marginal note is for convenience only and does not affect the
interpretation of this Agreement; 

  

	 	(f)	 a provision of this Agreement must not be construed to the disadvantage of a party merely because that party
was responsible for the preparation of the Agreement or the inclusion of the provision in the Agreement; 

  

	 	(g)	 where an act would be required to be done, or a time limit or period would expire, on a day which is not a
Business Day, the act must be done, or the limit or period will expire, on the following Business Day; 

  

	 	(h)	 the words “including”, “for example” and “such as”
(and any other forms of those words) are to be construed without limitation; 

  

	 	(i)	 a reference to “dollars” or “$” is a reference to Australian
dollars; and 

  

	 	(j)	 if a party to this Agreement is made up of more than one person, or a term is used in this Agreement to refer
to more than one party, an obligation of those persons is joint and several, a right of those persons is held by each of them separately, and any other reference to that party or term is a reference to each of those persons separately, so that (for
example) a representation, warranty or undertaking is given by each of them separately. 

  
 23 

 SCHEDULE 1 – Materials and Technical Information 

[***] 

  
 24 

 SCHEDULE 2 – Licensed Patents 

 

					
	[***]	  	[***]	  	[***]

  
 25 

 SCHEDULE 3 – Research & Development Plan 

  
 26 

 EXECUTED as an agreement. 
  

					
	 EXECUTED by BIONOMICS LIMITED
 in
accordance with section 127 of the Corporations
 Act 2001:
	 	 )
 )

)
	 	
			
	 /s/ Errol de Souza
	 		 	 /s/Jack Moschakis

	Director	 		 	Director/Secretary
			
	 Dr Errol De Souza
	 		 	 Mr Jack Moschakis

	Print Name	 		 	Print Name
			
	 EXECUTED by BIONOMICS INC 
 by its
duly authorised representative(s):
	 	 )
 )
	 	
			
	 /s/ Jack Moschakis
	 		 	  

	Authorised representative	 		 	Authorised representative
			
	 Sole Director & Secretary
	 		 	  

	Position	 		 	Position
			
	 Mr Jack Moschakis
	 		 	  

	Print Name	 		 	Print Name
			
	 EXECUTED by CARINA BIOTECH PTY LTD

In accordance with section 127 of the Corporations
 Act
2001:
	 	 )
 )

)
	 	
			
	 /s/ Leanna Read
	 		 	 /s/ Charlie Latham

	Director	 		 	Director/Secretary
			
	 Dr Leanna Read
	 		 	 Mr Charlie Latham

	Print Name	 		 	Print Name

  
 27EX-10.7

 Exhibit 10.7 

 

							
	 FORM L1 (Version 2)

GUIDANCE NOTES AVAILABLE
	  	 LANDS TITLES REGISTRATION OFFICE

 
 SOUTH AUSTRALIA

 
 LEASE

 
 FORM APPROVED BY THE
REGISTRAR-GENERAL
  
	 	
		  	
PRIORITY NOTICE ID
    
	  	 	 	
			
		  	BELOW THIS LINE FOR OFFICE
PURPOSES ONLY	 	

  

			
	
SERIES NO
	  	PREFIX
	  	  	L
    

 AGENT CODE 

MEOL61 
 LODGED BY 

Mellor Olsson 
 Level 6, 89 Pirie Street 

ADELAIDE SA 5000 
 CORRECTION TO 

Mellor Olsson 
 SUPPORTING DOCUMENTATION LODGED
WITH INSTRUMENT 
 (COPIES ONLY) 
  

			
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	   2
	  	
		
	   3
	  	
		
	   4
	  	
		
	   5
	  	

  

							
		 	 CORRECTION
	  	
PASSED
    
    
    
	 	
		 	 REGISTERED

 

REGISTRAR-GENERAL
	 	

 LEASE 
  

 
 PRIVACY COLLECTION
STATEMENT: The information in this form is collected under statutory authority and is used for maintaining publicly searchable registers and indexes. It may also be used for authorised purposes in accordance with Government legislation and
policy requirements. 
  
  

LAND DESCRIPTION 

Portion of the land comprised in Certificate of Title Register Book Volume 5687 Folio 5 being part of the Ground Floor, 200
Greenhill Road, Eastwood SA 5063 marked “Tenancy A” on the attached plan together with the improvements thereon (hereinafter called “the Premises”) 
  

 
 ESTATE & INTEREST 

In fee simple 
  

 
 LESSOR (Full name and address)

 200 GREENHILL ROAD PTY LTD ACN 131 366 535 of 179 Fullarton Road Dulwich SA 5065 

 
  

LESSEE (Full name, address and mode of holding) 

BIONOMICS LIMITED ACN 075 582 740 of 31 Dalgleish Street, Thebarton SA 5031 

 
  

TERM                      
       Five (5) years 
 COMMENCING ON      1 June 2021

 AND 
 EXPIRING
ON               31 May 2026 
 With one right of renewal
for the period set out in Item 10 of the Reference Schedule 
  
  

RENT AND MANNER OF PAYMENT (or other consideration) 

ONE HUNDRED AND NINETY TWO THOUSAND TWO HUNDRED AND TWENTY SIX DOLLARS AND FIFTY CENTS ($192,226.50) (plus GST) per annum payable
calendar monthly in advance on the 1st day of each and every calendar month during the term of this Lease. 
  

 
  
  

IT IS COVENANTED BY AND BETWEEN THE LESSOR AND THE LESSEE as listed herein: (Covenants, where not deposited, to be set forth on insert
sheet(s) and securely attached) 
  
  

  
 1 

  

OPERATIVE CLAUSE *Delete the inapplicable 

The Lessor LEASES TO THE LESSEE the land above described and the LESSEE ACCEPTS THIS LEASE of the land for the term and at the
rent stipulated, subject to the covenants and conditions expressed herein and to the powers and covenants implied by the Real Property Act 1886 (except to the extent that the same are modified or negatived below). 

 
  
  

DEFINE THE LAND BEING LEASED INCORPORATING THE REQUIRED EASEMENT(S) ETC. 

N/A 
  

 
  

CONSENTS OF MORTGAGEES AND SECTION 32 DEVELOPMENT ACT 1993 CERTIFICATION 

The provisions of this Lease do not contravene Section 32 of the Development Act 1993. 

 
  
  

  
 2 

 DATED         31 May
2021             
 CERTIFICATION *Delete the inapplicable 

Lessor(s) 
 *The Certifier has taken
reasonable steps to verify the identity of the lessor. 
 *The Certifier holds a properly completed Client Authorisation for the
Conveyancing Transaction including this Registry Instrument or Document. 
 *The Certifier has retained the evidence to support this
Registry Instrument or Document. 
 *The Certifier has taken reasonable steps to ensure that the Registry Instrument or Document is correct
and compliant with relevant legislation and any Prescribed Requirement. 
  

					
	 Signed By:
	 	 	  	
		 		  	
	 	  	
	 Name of certifying party
	  	
		 		  	
	 	  	
		 		  	
	 Capacity of certifying party
	  	

 for:    Mellor Olsson Lawyers 

          Company name 

on behalf of the Lessor 
  

Lessee(s) 
 *The Certifier has taken
reasonable steps to verify the identity of the lessee. 
 *The Certifier holds a properly completed Client Authorisation for the
Conveyancing Transaction including this Registry Instrument or Document. 
 *The Certifier has retained the evidence to support this
Registry Instrument or Document. 
 *The Certifier has taken reasonable steps to ensure that the Registry Instrument or Document is correct
and compliant with relevant legislation and any Prescribed Requirement. 
  

					
	 Signed By:
	 	 	  	
		 		  	
	 	  	
	 Name of certifying party
	  	
		 		  	
	 	  	
		 		  	
	 Capacity of certifying party
	  	
		  	

					
	for:	 	 	  	

             Company name 

on behalf of the Lessor 
  

  
 3 

 REFERENCE SCHEDULE 

 

			
	ITEM 1	  	
		
	Certificates of Title being Leased	  	 Portion of the land comprised in Certificate of Title Register Book Volume 5687 Folio 5 being part of the Ground Floor, 200
Greenhill Road, Eastwood SA 5063 as shown on the Floor Plan annexed hereto being the Premises marked “Tenancy A” on the plan

		
	ITEM 2	  	
		
	Estate of Lessor	  	 In fee simple

		
	ITEM 3	  	
		
	Encumbrances	  	 Subject to Mortgage 11825924

		
	ITEM 4	  	
		
	Lessor	  	 200 GREENHILL ROAD PTY LTD ACN 131 366 535 of 179 Fullarton Road, Dulwich SA 5065

		
	ITEM 5	  	
		
	Lessee	  	 BIONOMICS LIMITED ACN 075 582 740 of 31 Dalgleish Street, Thebarton SA 5031

		
	ITEM 6	  	
		
	Term of Lease	  	 Five (5) years commencing on the 1st day of June 2021 and expiring at midnight on 31 May 2026

		
	ITEM 7	  	
		
	Rent and Manner of Payment (or Other Consideration) (Clause 4.1)	  	 ONE HUNDRED AND NINETY TWO THOUSAND TWO HUNDRED AND TWENTY SIX DOLLARS AND FIFTY CENTS ($192,226.50) (plus GST) per
annum being ONE HUNDRED AND SEVENTY ONE THOUSAND SEVEN HUNDRED AND SIX DOLLARS AND FIFTY CENTS ($171,706.50) (plus GST) per annum for the office accommodation and TWENTY THOUSAND FIVE HUNDRED AND TWENTY DOLLARS ($20,520.00) (plus GST)
per annum for eighteen (18) onsite car parks. The annual rent shall be paid by equal consecutive calendar monthly instalments equivalent to one twelfth of the annual rental always in advance the first such instalment to be paid on the 1st day
of June 2021 and thereafter on the 1st day of each and every calendar month.

		
	ITEM 8	  	
		
	Development Act Certification	  	 This Lease does not contravene Section 32 of the Development Act 1993

		
	ITEM 9	  	
		
	Description of the Land
(Clause 1.1)	  	 The whole of the land comprised in Certificate of Title Register Book Volume 5687 Folio
5

  
 4 

			
	ITEM 10	  	
		
	Further Term	  	 Five (5) years commencing 1 June 2026 and expiring at midnight on 31 May 2031

		
	ITEM 11	  	
		
	Rent Review Date (Clause 4.4)	  	 1st day of June 2022
  

1st day of June 2023
  

1st day of June 2024
  

1st day of June 2025

		
	ITEM 12	  	
		
	Rent Review Date in respect of further term	  	 1st day of June 2026
  

1st day of June 2027
  

1st day of June 2028
  

1st day of June 2029
  

1st day of June 2030

		
	ITEM 13	  	
		
	Lessee’s Redecoration Date
(Clause 6.3)	  	 At the expiration of the term of this Lease or upon any earlier determination

		
	ITEM 14	  	
		
	Interest Rate (Clause 4.5)	  	 A rate of interest of two (2) per centum per annum greater than the prime lending rate of interest charged from time
to time by the Commonwealth Bank of Australia on overdrafts of $100,000.00 or more

		
	ITEM 15	  	
		
	Public Risk Policy (Clause 7.1)	  	 TWENTY MILLION DOLLARS ($20,000,000.00)

		
	ITEM 16	  	
		
	Permitted Use of Premises
(Clause 5.2, 8.1 and 8.5)	  	 Office accommodation

		
	ITEM 17	  	
		
	Hours when Occupancy of the Premises Not Permitted Clause 8.5(e) and (g)	  	 Refer Clause 3 of the Fourth Schedule

  
 5 

			
	 ITEM 18
	  	
		
	(a) Lessee’s Percentage of Outgoings and Cleaning Costs (Clauses 4.3, 6.5 and Third Schedule)	  	 24.12%

		
	(b) Lessee’s Percentage of Ground Floor Air Conditioning Electricity Charges	  	 50.36%

		
	 ITEM 19
	  	
		
	Schedules Forming Part of this Lease	  	 First Schedule – Inventory of Lessor’s Fixtures and Fittings

		
		  	 Second Schedule –     Part A – Services to be Provided by Lessor

                        
           Part B – Operating Procedures and Building Regulations

		
		  	 Third Schedule – Lessee’s Contribution to Outgoings

		
		  	 Fourth Schedule – Special Covenants and Conditions

		
		  	 Fifth Schedule – Right of Renewal

		
		  	 Sixth Schedule – Rent Review

  
 6 

 RESERVATIONS 

The Lessor being registered as the proprietor of the estate or interest referred to in Item 2 of the Reference Schedule HEREBY RESERVES
unto the Lessor and persons claiming through or authorised by it the use of the exterior walls the roof and the right to install maintain use repair alter and replace pipes ducts conduits and wires leading through the Premises and to pass and run
water air electricity sewerage drainage gas and other services through such pipes ducts and conduits and wires and to enter upon the Premises for such purposes PROVIDED THAT in exercising such rights as aforesaid the Lessor shall not
interfere with the Lessee in its use and occupation of the Premises more than is reasonably necessary. 

  
 7 

 INDEX 

HEADING 
  

	1.	 DEFINITIONS AND INTERPRETATIONS 

 

	2.	 EXCLUSION OF CERTAIN STATUTORY PROVISIONS AND IMPLIED TERMS 

 

	3.	 TERM OF LEASE AND FURTHER TERM 

 

	4.	 RENT, RENT REVIEW AND LESSEE’S CONTRIBUTION TO OUTGOINGS 

 

	5.	 ASSIGNMENT/SUB-LETTING 

 

	6.	 MAINTENANCE, REPAIRS, ALTERATIONS AND ADDITIONS 

 

	7.	 INSURANCE AND INDEMNITY 

 

	8.	 USE OF THE PREMISES AND THE BUILDING 

 

	9.	 RIGHTS RESERVED BY LESSOR 

 

	10.	 COVENANTS BY LESSOR 

 

	11.	 MISCELLANEOUS 

  

	12.	 SPECIAL COVENANTS AND CONDITIONS 

FIRST SCHEDULE 
 SECOND SCHEDULE 

THIRD SCHEDULE 
 FOURTH SCHEDULE 

FIFTH SCHEDULE 
 SIXTH SCHEDULE 

  
 8 

	1.	 DEFINITIONS AND INTERPRETATIONS 

 

	1.1	 Meanings 

In this Lease unless the contrary intention appears: 

 

	 	(a)	 “the Building” means the building erected upon the Land or part thereof of which the Premises
forms part including the common areas of the Building and also the fixtures and fittings in the Building together with any extension or alterations subsequently made to the Building. 

 

	 	(b)	 “the Building Services” means the services for the time being provided to the building or the
premises by the Lessor and without limiting the generality of this expression includes the services listed in Part A of the Second Schedule. 

  

	 	(c)	 “clean” means the maintenance of the Premises and the water closets washrooms and lavatories of
the Building in a thoroughly clean sanitary and tidy condition including but without limiting the generality thereof the cleaning of the exterior and interior of all windows and glass doors the removal of all waste and garbage from the Premises the
Building and the Land and ensuring that at all times there is a good and sufficient supply of paper towels and other toilet requisites in the water closet washrooms and lavatories of the Building and further, includes cleaning of the car parking
areas and the watering of the common area landscaping and replacement planting. “Cleaning” shall have a corresponding meaning. 

  

	 	(d)	 “the common areas of the Building” means the tearooms toilet and washroom facilities forecourts
entrances vestibules passages stairways landings escalators and lifts and other areas if any from time to time permitted by the Lessor to be used in general by the occupants of the Building. 

 

	 	(e)	 “the Land” means the Land described in Item 9 of the Reference Schedule. 

 

	 	(f)	 “this Lease” includes the Schedules referred to in Item 19 of the Reference Schedule and any plan
(if any) herein referred to or annexed hereto. 

  

	 	(g)	 “the Lessee” means the Lessee or Lessees named in Item 5 of the Reference Schedule and if a person
or persons his or their respective executors administrators successors and permitted assigns or if a company the Lessee and its permitted assigns and where there are two (2) or more Lessees shall mean and include the Lessees and each and every
of them and each and every of their executors administrators and permitted assigns. 

  

	 	(h)	 “the Lessee and persons under his control” means the Lessee his servants and agents and any other
person in or about the Premises at any time at the request or invitation of or under the control or direction of the Lessee. 

  

	 	(i)	 “the Lessor” means the Lessor named in Item 4 of the Reference Schedule its successors and assigns
or being a person or persons his or their respective executors administrators and assigns and where not repugnant to the context its servants or agents (including for the purpose of giving any notice any managing agent appointed from time to time by
the Lessor). 

  
 9 

	 	(j)	 “Operating Procedures and Building Regulations” means the procedures and regulations contained in
Part B of the Second Schedule to this Lease as may from time to time be varied or amended pursuant to clause 9.5. 

  

	 	(k)	 “the Premises” means the premises referred to in Item 1 of the Reference Schedule including such
floor coverings curtains blinds ceilings light fittings air conditioning and other fixtures fittings plant machinery and equipment (if any) provided by the Lessor from time to time and without limiting the generality of the foregoing the fixtures
and fittings (if any) described in the First Schedule hereto. 

  

	 	(l)	 “the Reference Schedule” means the schedule headed “Reference Schedule” contained in
Pages 4, 5 and 6 of this Lease. 

  

	 	(m)	 Any provision of this Lease to be performed by two (2) or more persons shall bind those persons jointly
and severally. 

  

	 	(n)	 Any reference in this Lease to any statute code or regulation is deemed to include all amendments and
revisions made from time to time to that statute code or regulation and any statute code or regulation passed in substitution for the statute or ordinance referred to herein or incorporating any of its provisions. 

 

	 	(o)	 Where the context so permits words importing the masculine gender shall include the feminine and neuter
genders and vice versa and words importing persons shall include corporations and vice versa and words importing the singular number shall include the plural and vice versa (unless repugnant or inconsistent to the context in which they are used).

  

	 	(p)	 Wherever the initials “N/A” appear in any of the Schedules in this Lease it shall mean that that
particular Item or Schedule and the clause or part thereof which refers to that Item or Schedule shall not apply to the terms of this Lease. 

  

	 	(q)	 The Index to this Lease and headings and marginal notation in this Lease have been inserted for convenience
only and shall not in any way limit or govern the construction of the terms of this Lease. 

  

	2.	 EXCLUSION OF CERTAIN STATUTORY PROVISIONS AND IMPLIED TERMS 

 

	2.1	 Real Property Act 

 

	 	(a)	 The covenants and powers implied in every Memorandum of Lease by virtue of Sections 124 and 125 of the Real
Property Act 1886 (as amended) shall not apply or be implied in this Lease except insofar as the same or some part or parts thereof are included in the covenants herein contained. 

 

	 	(b)	 To the extent permitted by law the application to this Lease of any moratorium or other Act whether State or
Federal having the effect of extending the term reducing or postponing the payment of rent or otherwise affecting the operation of the terms of this Lease is expressly excluded and negatived. 

  
 10 

	2.2	 Severability 

The Lessor and the Lessee hereby agree that if any provision of this Lease is in breach of the Competition and Consumer Act
2010 (Cth) or any Act whether State or Federal and in consequence of such breach is void voidable unenforceable or invalid then in any such case such provision shall be severable from this Lease and this Lease shall be read as though such provision
did not form part of the same at any time. 
  

	2.3	 Exclusion of Implied Terms 

The covenants provisions terms and agreements contained in this Lease expressly or by statutory implication cover and comprise
the whole of the agreement between the parties and the parties expressly agree and declare that no further or other covenants agreements provisions or terms whether in respect of the Premises or otherwise shall be deemed to be implied herein or to
arise between the parties by way of collateral or other agreement by reason in this Lease of any promise representation warranty or undertaking given or made by any party or its employee or agent to any other party or its employee or agent on or
prior to the execution of this Lease and the existence of any such implication or collateral or other agreement is hereby negatived. 
  

	3.	 TERM OF LEASE AND FURTHER TERM 

 

	3.1	 Term of Lease 

The term of this Lease shall commence on and include the commencement date stated in Item 6 of the Reference Schedule and
shall continue until the expiration of the period referred to in Item 6 of the Reference Schedule. 
  

	3.2	 Option to Renew 

If a period is specified in Item 10 of the Reference Schedule, the Lessor grants to the Lessee on and subject to the terms and
conditions of the Fifth Schedule the option to renew the term hereby granted for the period therein specified. 
  

	3.3	 Monthly Tenancy 

Should the Lessee with the express consent of the Lessor continue to occupy the Premises beyond the expiration of the term of
this Lease (otherwise than pursuant to the grant of a further Lease) the Lessee shall do so as a monthly tenant only at a rental payable calendar monthly in advance the first such payment to be made on the day following the expiration of the term of
this Lease equal to one-twelfth of the sum of the following amounts: 
  

	 	(a)	 the annual amount of the current market rent in respect of the Premises at the time which shall be the then
current monthly rental increased by 3%; and 

  

	 	(b)	 the annual amount of the Lessee’s contribution to the outgoings of the Building referred to in the
Third Schedule to this Lease. The monthly tenancy so created shall be determinable by either party by at least one (1) calendar month’s notice in writing to the other expiring not earlier than the last day of a month of a tenancy
PROVIDED HOWEVER that no such holding over shall be implied from the fact that the Lessee failed to give vacant possession of the Premises to the Lessor upon the expiration of the term of this Lease. 

  
 11 

	3.4	 Reduction of Term 

Should the Lessor become entitled to re-enter or determine this Lease the Lessor may
at its option by written notice reduce the unexpired residue of the term of this Lease to a period of one (1) month and thereafter from month to month upon the conditions stated in clause 3.3 hereof. 

 

	4.	 RENT, RENT REVIEW AND LESSEE’S CONTRIBUTION TO OUTGOINGS 

 

	4.1	 Covenant to Pay Rent 

The Lessee covenants to pay rent to the Lessor during the term of this Lease at the rate stated in Item 7 of the Reference
Schedule and when applicable at any higher rate determined pursuant to clause 4.4 hereof. 
  

	4.2	 Manner of Payment of Rent 

 

	 	(a)	 The rent reserved by this Lease shall be paid by the Lessee by equal calendar monthly instalments in advance
on the first day of each month (and proportionately for any part of a month) the first instalment to be paid on the commencement date. 

  

	 	(b)	 All payments of rent or other moneys required to be paid by the Lessee under this Lease shall be paid to the
Lessor or as the Lessor may in writing otherwise direct without any abatements or deductions whatsoever. 

  

	4.3	 Additional Payments by Lessee 

The Lessee covenants to pay to the Lessor as additional rent reserved under this Lease: 

 

	 	(a)	 The Lessee’s contribution to the outgoings of the Building in the manner provided in the Third
Schedule; and 

  

	 	(b)	 The Lessee’s proportion of the cost of toilet requisites, waste removal from and cleaning of the
Building and the common areas of the Building including window cleaning and electricity charges in respect of the common areas of the Building being the percentage stated in Item 18(a) of the Reference Schedule. Despite the above, the Lessee may in
respect of any contract the Lessee enters into with the Lessor’s designated cleaner in respect of cleaning the Premises, include a requirement to pay such cleaner the amounts required to be paid by the Lessee under this clause, and if so,
payments by the Lessee to the cleaner of such amounts will be deemed to satisfy the Lessee’s obligations under this clause 4.3(b). 

  

	4.4	 Rent Reviews 

The annual rental shall be reviewed on each of the successive dates stated in Item 11 and Item 12 of the Reference Schedule
(each of such dates being called “the review date”) in accordance with the method set out in the Sixth Schedule. 
  

	4.5	 Interest on Overdue Rent or Other Moneys 

If any rent or other moneys payable by the Lessee under this Lease remain unpaid for fourteen (14) days after their due
date then the Lessee shall pay to the Lessor interest on those moneys at the annual percentage rate stated in Item 14 of the Reference Schedule calculated from the due date to the date of payment and the Lessor will be entitled to recover those
moneys and such interest as if the same were rent in arrears. 

  
 12 

	4.6	 Goods and Services Tax 

 

	 	(a)	 Unless otherwise agreed by the Lessor and the Lessee, any supply under or in accordance with this Lease
and/or the premises is exclusive of GST and liability for GST shall be in addition thereto. 

  

	 	(b)	 If at any time the Lessor shall be required to pay GST in respect to any supply made by the Lessor under or
in accordance with this Lease, the Lessee shall in addition to any other monies due and payable by it under this Lease, pay to or reimburse the Lessor the amount of any such GST provided that the Lessee receives a tax invoice. 

 

	 	(c)	 If at any time the Lessee shall be required to pay GST in respect to any supply made by a third party of and
incidental to the premises and/or this Lease, the Lessee shall pay to that third party on demand the amount of any such GST provided that the Lessee receives a tax invoice. 

 

	 	(d)	 Any non payment or non reimbursement of GST by the Lessee to the Lessor or any non payment of GST by the
Lessee to a third party pursuant to this Lease shall be treated as a fundamental breach of this Lease and have the same consequences under this Lease as non payment of any other monies due and owing by the Lessee. 

 

	 	(e)	 For the purposes of this Lease: 

“GST” means any goods and services or similar tax imposed by and defined in the GST Law; 

“GST Law” means the A New Tax System (Goods and Services Tax) Act 1999 (Commonwealth) or any other
Act specified in section 195-1 of that Act or any Act or Regulation pursuant to, associated with, amending or replacing that Act; 

“tax invoice” has the same meaning as that given in Section 195 of the GST Law. 

 

	5.	 ASSIGNMENT/SUB-LETTING 

 

	5.1	 Lessee Not to Sub-let Without Consent

 The Lessee covenants not to sub-let mortgage or otherwise deal
with its right to possession of the Premises without the prior written consent of the Lessor (which consent shall not be unreasonably or capriciously withheld). 
  

	5.2	 Conditions of Assignment 

 

	 	(a)	 The Lessee covenants not to assign this Lease without the prior written consent of the Lessor. The Lessor
will not withhold consent to an application by the Lessee to assign the Lease if prior to any such assignment: 

  

	 	(i)	 the Lessee shall demonstrate to the reasonable satisfaction of the Lessor that the proposed assignee is
responsible and of sound financial standing and intending to use the Premises for the use specified in Item 16 of the Reference Schedule; 

  

	 	(ii)	 all rent and other moneys payable by the Lessee to the Lessor up to the date of proposed assignment have
been paid; 

  
 13 

	 	(iii)	 there is not any existing unremedied breach of any of the terms of this Lease; 

 

	 	(iv)	 the Lessee procures the execution by the assignee of a transfer and/or an assignment of this Lease in a form
approved by the Lessor; 

  

	 	(v)	 all costs incurred by the Lessor (whether or not the proposed assignment proceeds to completion) have been
paid by the Lessee; 

  

	 	(vi)	 where the proposed assignee is a company other than a public company as defined in the Corporations Act 2001
the Lessor may require the directors and/or controlling shareholders of such company to enter into a deed guaranteeing the performance by that company of the terms of this Lease such guarantee to be in a form acceptable to the Lessor and the costs
incurred by the Lessor in the preparation and execution of such guarantee are paid by the Lessee; and 

  

	 	(vii)	 if requested by the Lessor a Bank Guarantee is provided by the Assignee on the terms and conditions set out
in paragraph 5 of the Fourth Schedule. 

  

	 	(b)	 For the purposes of this clause 5.2 an assignment of this Lease shall be deemed to have been effected in any
of the following circumstances: 

  

	 	(i)	 If the Lessee being a company or any one of the Lessees being a company other than a listed public company
as defined in the Corporations Act 2001 has had a change in the beneficial ownership of its shares which change has the effect of altering the person or persons in effective control of the company. 

 

	 	(ii)	 If the Lessee is a partnership any change in the constitution of the partnership except by the death of any
partner. 

 Any such assignments taking effect without the Lessor’s prior written consent shall be
deemed a default by the Lessee under the provisions of this Lease. 
 Where the Lessor consents to an assignment under
clause 5.2, the Lessor will release the Lessee from and against any claims in respect of the Lease and the assignment of the same on the date being the second anniversary of such assignment of the Lease. 

 

	5.3	 Grounds on which consent to assignment can be withheld 

The Lessor is entitled to withhold consent to an assignment of this Lease in any of the circumstances set out in
Section 43 of the Retail and Commercial Leases Act 1995. 
  

	6.	 MAINTENANCE, REPAIRS, ALTERATIONS AND ADDITIONS 

 

	6.1	 Lessee to Keep Premises and Fixtures in Good Repair 

 

	 	(a)	 The Lessee shall keep the interior of the Premises and all fixtures and fittings (including any carpets
curtains or blinds) installed or provided by the Lessor (which fixtures and fittings are more particularly described in the inventory of the Lessor’s fixtures and fittings in the First Schedule) in good repair and at the expiration or sooner
determination of this Lease shall yield up the Premises and the fixtures and fittings of the Lessor in good repair. 

  

	 	(b)	 The obligation of the Lessee stated in paragraph (a) of this clause does and clause 6.4 does not
include: 

  
 14 

	 	a.	 responsibility for fair wear and tear; and 

 

	 	b.	 any damage or destruction to the Premises or the Building from fire, flood, lightning, storm, tempest,
inevitable accident, act of God or war damage whether to the Premises or Building (except where insurance moneys are irrecoverable in consequence of any act, omission or default of the Lessee and persons under his control, in which event the Lessee
must rectify the damage). 

  

	6.2	 Service of Plant and Equipment Within and Exclusively Servicing the Premises 

In the event that the Lessor installs any plant or machinery within and exclusively servicing the Premises then the Lessee
shall keep all such plant or machinery maintained serviced and in good repair and will enter into and keep current at the Lessee’s expense such maintenance service and repair contracts as are reasonably required by the Lessor for that purpose
with contractors approved by the Lessor. 
  

	6.3	 Reinstatement Makegood 

 

	 	(a)	 The Lessee shall at the Lessee’s own cost and expense reinstate the Premises throughout to the
reasonable satisfaction of the Lessor before each of the dates specified in Item 13 of the Reference Schedule and immediately before the date of expiration of the term of this Lease. In this clause the term “reinstate” shall include the
washing down of the whole of the interior of the Premises including all partitions or additions made to the Premises and the treatment as previously treated of all internal surfaces of the Premises (including the ceiling and T-bars) by repairing and painting (with not less than two (2) coats) staining polishing or otherwise to colours and specifications approved by the Lessor and also the replacing of all carpet/floor tiles/floor
coverings which in the opinion of the Lessor’s building consultant are worn, damaged or otherwise in need of replacement (fair wear and tear excepted). 

  

	 	(b)	 Should the Lessee fail to reinstate the Premises by the dates specified in Item 13 of the Reference Schedule
the Lessor may undertake reinstatement at the Lessee’s expense and the Lessee shall repay amounts so expended by the Lessor on demand. 

  

	 	(c)	 The Lessee shall at the commencement of the term of this Lease fit out and decorate the Premises at the
Lessee’s own cost and expense subject always to the Lessor’s prior written consent as regards quality and type of fixtures and fittings and colour schemes used such consent not to be unreasonably or capriciously withheld.

  

	6.4	 Lessee’s Further Maintenance/Repair Obligations 

The Lessee shall at the Lessee’s expense: 
  

	 	(a)	 ensure that all waste is placed daily in suitable receptacles; 

 

	 	(b)	 as soon as practicable make good any damage to any part of the Building (including the common areas) or to
the Premises or any part thereof caused by the Lessee and persons under his control; 

  

	 	(c)	 as soon as practicable replace all glass broken by the Lessee and persons under his control;

  

	 	(d)	 replace all damaged or non-operative light globes and tubes within
the Premises; 

  
 15 

	 	(e)	 take any steps necessary to control any pest infestation occurring within the Premises and if required by
the Lessor engage a pest exterminator approved by the Lessor; 

  

	 	(f)	 repair or where appropriate replace heating lighting electrical and plumbing fittings installed in the
Premises broken or damaged by the Lessee and persons under his control; 

  

	 	(g)	 comply with all statutes ordinances proclamations orders and regulations affecting the Premises or any
fixtures or fittings installed by the Lessee therein; 

  

	 	(h)	 comply with any notices or orders which may be given by any competent authority in respect of the Premises
or their use by the Lessee and will keep the Lessor indemnified in respect of all such matters 

PROVIDED THAT the Lessee shall be under no liability in respect of any structural alterations or items involving a
capital cost unless that liability arises out of the Lessee’s use or occupation of the Premises. 
  

	6.5	 Cleaning 

  

	 	(a)	 The Lessee shall keep the Premises clean at the Lessee’s expense. 

 

	 	(b)	 In the event of the Lessor or the Lessor’s appointed contractors providing during the term of this
Lease a service for the routine cleaning of the Building the Lessee shall, if so required by the Lessor (and allowed by law), use such service for the cleaning of the Premises and shall permit the Lessor’s cleaning contractors to have access to
the Premises at all reasonable times for the purpose of carrying out such routine cleaning. The Lessee will be invoiced directly by the Lessor’s appointed contractors. The Lessee may negotiate and contract directly with the Lessor’s
cleaning contractors in respect of the Lessor’s requirements for cleaning the Premises. 

  

	6.6	 Alterations or Additions to Premises by Lessee 

 

	 	(a)         (i)	 The Lessee shall not install or use in the Premises internal partitions curtains or other window treatments or
light fittings other than of a standard as to type quality and size as the Lessor shall approve. 

  

	 	(ii)	 The Lessee shall not without the prior written consent of the Lessor, remove or alter any fixture or fitting
provided by the Lessor within the Premises. Where such consent is forthcoming, the Lessee acknowledges and agrees to reinstate any such fixtures or fittings at the expiration of the term of this Lease or upon any earlier determination.

  

	 	(b)	 The Lessee shall not install or place any heavy item fixture or fittings which is or is likely in the
opinion of the Lessor to overload the structure of any part of the Building. 

  

	 	(c)	 The Lessee shall not make alterations or additions to the Premises nor install or alter any partitioning nor
install or place any heavy equipment fitting fixture or machinery likely to disturb the efficient operation of the air conditioning or other systems servicing the Building or the Premises without the Lessor’s prior written approval (which shall
not be unreasonably or capriciously withheld) and: 

  
 16 

	 	(i)	 in seeking the Lessor’s approval to a proposed alteration or addition or installation/alteration the
Lessee shall submit plans and specifications of the proposed work; 

  

	 	(ii)	 the Lessor may require as a condition of its approval that: 

 

	 	(1)	 any such work shall be supervised by a person nominated by the Lessor; 

 

	 	(2)	 any such work shall be executed by contractors or tradespeople as are approved by the Lessor;

  

	 	(3)	 the Lessee pays on demand all costs incurred by the Lessor in considering the proposed works and their
supervision including the fees of architects or other building consultants employed by the Lessor; 

  

	 	(4)	 the Lessee shall obtain from any competent authority all necessary approvals or permits necessary to enable
such proposed work to be lawfully effected and shall on request by the Lessor produce for inspection to the Lessor copies of all such approvals and permits from any such competent authority; 

 

	 	(5)	 upon completion of the works the Lessee shall produce to the Lessor any certificates of compliance issued by
any such competent authority; 

  

	 	(6)	 the Lessee shall reimburse the Lessor any cost or expense as may be incurred by the Lessor as a result of
the installation operation or removal of any such equipment fixture fitting or machinery; 

  

	 	(7)	 if requested by the Lessor, the Lessee shall reinstate the Premises to their original condition at the
expiration of the term of this Lease or upon any earlier determination. 

  

	 	(d)	 The Lessee shall not without the written consent of the Lessor which shall not be unreasonably or
capriciously withheld, erect nor permit or suffer to be erected blinds, shades, awnings, window ventilators or other similar window treatments in or upon the Premises. 

 

	 	(e)	 The Lessee shall not without the written consent of the Lessor, which consent shall not be unreasonably
withheld, cause any advertisement notice poster hoarding or sign to be affixed to or placed near any window in the Premises so as to be visible from the outside of the Building. 

 

	6.7	 Removal of Fixtures and Fittings by Lessee on Termination 

 

	 	(a)	 The Lessee shall prior to the expiration of the term of this Lease remove all partitions alterations or
additions installed or made by the Lessee or on behalf of the Lessee and make good damage to the Premises caused by such removal and where the term of this Lease shall be determined prior to the expiration of the term stated in Item 6 of the
Reference Schedule the Lessee shall effect such removal and making good of damage within a reasonable time after such determination. For the avoidance of doubt, all lights, power and telecommunication outlets and
air-conditioning registers must be relocated to the building layout position prior to occupation. 

  
 17 

	 	(b)	 If the Lessee shall not have completed such removal and making good on the expiration of the term of this
Lease (or in the case of the determination of the term of this Lease within a reasonable time after such determination) then the Lessor may remove and store such partitions alterations or additions as the Lessee shall have failed to remove and the
Lessee undertakes to repay on demand all costs and expenses incurred by the Lessor in so doing and the Lessor may alternatively elect not to effect such removal in which case the Lessor shall by notice in writing given to the Lessee notify the
Lessee that unless the Lessee shall have effected such removal within fourteen (14) days of the date on which such notice is given such partitions alterations or additions as have not been removed by the Lessee shall be forfeited to the Lessor
and where the Lessee fails to comply with such notice such partitions alterations and additions shall at the expiration of such fourteen (14) day period become the absolute property of the Lessor. 

 

	6.8	 Notice of Damage and Defects by Lessee 

The Lessee shall forthwith give notice to the Lessor (or where appropriate to the Building supervisor or managing agent of the
Lessor) of: 
  

	 	(a)	 any damage and of any accident to or defects in the Premises or in the Building or in any of the services or
other facilities provided by the Lessor in the Premises or the Building; 

  

	 	(b)	 any circumstances likely to occasion any damage or injury occurring within the Premises or the Building.

  

	7.	 INSURANCE AND INDEMNITY 

 

	7.1	 Public Risk and Glass insurance by Lessee 

The Lessee shall keep current at all times during its occupation of the Premises: 

 

	 	(a)	 a policy of public risk insurance applicable to the Premises and the business carried on therein for an
amount not less than the amount stated in Item 15 of the Reference Schedule (being the amount which may be paid out arising out of any one single accident or event); 

 

	 	(b)	 an insurance policy in the name of the Lessee for the full insurable value on a replacement basis against
all insurable risks all glass (including plate glass) in or enclosing the Premises; 

  

	 	(c)	 an insurance policy in relation to the Lessee’s own fixtures plant machinery furniture and goods
against the usual insurable risks (including but not limited to damage by accident fire lightning storm tempest and earthquake act of God war or riot force majeure or similar events) in the full insurable value thereof. 

Such insurance policies shall be taken out with an insurance company lawfully authorised to provide insurance products in
Australia. If so requested by the Lessor, the Lessee must provide the Lessor with copies of certificates of currency for all insurance policies that the Lessee is required to hold under this Lease. 

The Lessor will hold and maintain insurance in respect of loss and damage to the Building such that a prudent owner of like
buildings in Adelaide would hold. 

  
 18 

	7.2	 Lessee Not to Prejudice Lessor’s Insurance or Premium Rate 

The Lessee and persons under his control shall not do or permit to be done anything upon the Premises whereby any insurance
effected by the Lessor or by the Lessee may be rendered void or voidable or (except with the Lessor’s prior written approval) whereby the premium payable on any such insurance shall be liable to increase AND the Lessee shall as and when
required by the Lessor pay all extra premiums payable by the Lessor on account of extra risk caused by the use to which the Premises are put by the Lessee. 
  

	7.3	 Compliance with Insurance Council Requirements 

The Lessee covenants at all times and in all respects to comply with the requirements of the Insurance Council of Australia
the Fire Protection Division of the South Australian Metropolitan Fire Service or any similar body having like jurisdiction and with the requirements of any relevant statute regulation or other notice issued by any similar authority. Nothing in this
clause imposes any obligation on the Lessee to undertake any structural works or incur any costs of a capital nature in respect of compliance with the above mentioned matters. 

 

	7.4	 Lessee to Occupy Premises at its Risk 

The Lessee agrees to occupy and use the Premises at the Lessee’s risk and releases to the fullest extent permitted by law
the Lessor its servants agents and contractors in the absence of any neglect or default on their part from all claims and demands of any kind and from all liability which may arise in respect of any accident damage or injury occurring to any person
or property in or about the Premises or the Building. 
  

	7.5	 Indemnity by Lessee 

The Lessee shall keep the Lessor indemnified against all claims actions losses and expenses of any nature which the Lessor may
suffer or incur or for which the Lessor may become liable in respect of or arising out of: 
  

	 	(a)	 the negligent or careless use or misuse by the Lessee and persons under its control of the Premises or the
Building or arising out of any faulty fixture or fitting of the Lessee; 

  

	 	(b)	 any accident or damage to property or injury or death suffered by any person arising from any occurrence in
or near the Premises to any person or property to the extent arising from any act or omission by the Lessee and persons under his control. 

  

	8.	 USE OF THE PREMISES AND THE BUILDING 

 

	8.1	 Use to Which Premises May be Put by Lessee 

The Lessee shall not use the Premises otherwise than for the purpose stated in Item 16 of the Reference Schedule. 

 

	8.2	 No Warranty by Lessor as to Suitability of Premises 

The Lessee hereby covenants and agrees with the Lessor that the Lessee has relied on its own judgement expertise and the
Lessee’s experts in deciding that the premises hereby let are suitable for the Lessee’s purposes and that the Lessor has given no warranty as to the use to which the Premises may be put and that the Lessee has satisfied itself thereon and
shall be deemed to have accepted this Lease with full knowledge of, and subject to, any prohibitions or restrictions on the 

  
 19 

 
use thereof under or in pursuance of any Act Ordinance Regulation By-law or other statutory enactment or order of Court. Should the use be permissible only
with the consent of any authority under or pursuance of any such Statute Ordinance Regulation By-law or other enactment or order of Court the Lessee shall obtain such consent at the Lessee’s own cost and
expense. To the full extent permitted by law all warranties as to suitability and as to adequacy implied by law are hereby expressly negatived. 
  

	8.3	 Payment of Utility Charges by Lessee 

 

	 	(a)	 The Lessee hereby covenants and agrees to pay all charges for gas electricity (including light and power and
air-conditioning energy) oil and water separately metered and consumed in or on the Premises and also all charges in respect of any telephone services connected to the Premises and all other charges and
impositions imposed by any public utility or authority for the supply of any service separately supplied to the Premises. Where there exists no separate meter for recording or measuring in respect of the Premises any of the services or substances
referred to in this clause where the Lessee requests the installation of such meters and the Lessor installs the same then the Lessee must reimburse the Lessor for the Lessor’s costs in respect of the installation of such meters.

  

	 	(b)	 The Lessee shall pay to the Lessor that percentage stated in Item 18(b) of the Reference Schedule for the
Lessee’s percentage of ground floor air conditioning electricity charges which will be invoiced quarterly in arrears by the Lessor. 

  

	 	(c)	 Should the Lessee make default in payment of any of the charges referred to in paragraph (a) and (b) of
this clause 8.3 then the Lessor may pay the same and forthwith recover the amount paid as if the same were rent in arrears payable by the Lessee. 

  

	8.4	 Use of Premises by Lessee 

The Lessee shall during its occupation of the Premises: 

 

	 	(a)	 advise the Lessor (or where applicable its managing agent) of the private address and telephone number of
the Lessee’s Representative (for contact with the Lessee in an emergency) and shall keep the Lessor or its managing agent informed of any change of such address or telephone number; 

 

	 	(b)	 secure the Premises against unauthorised entry at all times when the Premises are left unoccupied and the
Lessor reserves the right by its servants and agents to enter upon the Premises and fasten same if the Premises are left unsecured; 

  

	 	(c)	 take such steps as are necessary to prevent infiltration of air into the Premises and not do anything
whereby the working or efficiency of the air conditioning plant servicing the Building or the Premises may be affected; 

  

	 	(d)	 upon the cessation of the Lessee’s right to occupy the Premises the Lessee shall deliver to the Lessor
or its managing agent all keys to the Premises; 

  

	 	(e)	 observe the operating procedures and regulations of the Building contained in the Second Schedule.

  
 20 

	8.5	 Restrictions on Use of Premises by Lessee 

The Lessee shall not: 
  

	 	(a)	 use or permit to be used for other than their designed purposes any of the fixtures or fittings in the
Premises or the Building; 

  

	 	(b)	 store or use inflammable or dangerous substances upon the Premises (except as may be necessary for the
ordinary conduct of the permitted use of the premises specified in Item 16 of the Reference Schedule in which case the Lessee shall notify the Lessor in writing of the maximum quantity of any such inflammable or dangerous substance that the Lessee
shall store on the premises); 

  

	 	(c)	 do or permit to be done on the Premises or in the Building anything which in the opinion of the Lessor may
become a nuisance disturbance obstruction or cause of damage whether to the Lessor or to other tenants or users of the Building nor to use the Premises in any noisy noxious or offensive manner; 

 

	 	(d)	 obstruct or interfere with any of the entrances or common areas of the Building; 

 

	 	(e)	 occupy or permit the Premises to be occupied or used by the Lessee and persons under its control during the
hours stated in Item 17 of the Reference Schedule; 

  

	 	(f)	 permit any sign advertisement name or notice (other than on any sign board or directory referred to in
clause 8.6 hereof) to be placed on any part of the Premises or Building where such sign advertisement name or notice is of an incongruous or unsightly nature having regard to the character and use of the Building and prior to the installation or
placement of any sign advertisement name or notice the Lessee shall: 

  

	 	(i)	 obtain the Lessor’s prior written consent such consent not to be capriciously or unreasonably withheld;
and 

  

	 	(ii)	 obtain the prior consent of any relevant competent authority; 

 

	 	(g)	 use the common areas of the Building during the hours stated in Item 17 of the Reference Schedule;

  

	 	(h)	 use or permit to be used any radio record player tape or video recorder television loudspeaker screen or
other equipment likely to be heard or seen from outside the Premises; 

  

	 	(i)	 conduct or permit to be conducted on the Premises any auction bankruptcy or fire sale.

  

	8.6	 Provision of Directory by Lessor 

Where the Lessor at the request of the Lessee provides the Lessee with identification on any sign board or directory installed
by the Lessor in or near any of the entrances to the Building the Lessee shall pay to the Lessor on demand the cost of providing such identification. 

  
 21 

	9.	 RIGHTS RESERVED BY LESSOR 

 

	9.1	 Maintenance by Lessor 

The Lessor reserves the right to use maintain and repair all services and/or associated fixtures and fittings passing through
the Premises or the Building. 
  

	9.2	 Entry by Lessor to View and Effect Repairs and Alterations 

The Lessor shall have the right to enter upon the Premises with all necessary materials and equipment at all reasonable times
and on reasonable notice (but at any time and without notice in the case of an emergency): 
  

	 	(a)	 to enter and view the state of repair of the Premises and to ascertain whether or not there has been any
breach of the terms of this Lease; 

  

	 	(b)	 to carry out repairs or other works to the Premises or to the Building or to any adjacent Building;

  

	 	(c)	 to execute any work required to remedy a defect which is the Lessee’s duty to repair if the Lessee has
not within twenty-one (21) days of the date of receipt by the Lessee of the written notice from the Lessor requiring such defect to be repaired taken steps to remedy the defect and without prejudice to
other remedies the Lessor may recover the costs of such repairs from the Lessee forthwith on demand; 

  

	 	(d)	 for the purpose of complying with the terms of any present or future legislation affecting the Premises or
the Building or of any notice served on the Lessor or Lessee by any competent authority for which the Lessee is not responsible under this Lease; 

  

	 	(e)	 in the event the Premises of the Building are either destroyed or damaged for the purpose of rebuilding or
restoration; 

  

	 	(f)	 for the purpose of carrying out any repairs alterations additions or other works to the utility or other
services provided to the Lessee and/or other tenants of the Building; 

 PROVIDED ALWAYS in
exercising such rights the Lessor shall use its best endeavours to minimise any disturbance caused to the Lessee in its occupation and use of the Premises. 
  

	9.3	 Work by Lessor to Remedy Lessee’s Default 

The Lessor may elect to remedy at any time without notice any default by the Lessee under this Lease and whenever the Lessor
so elects all costs and expenses incurred by the Lessor (including legal costs and expenses) in remedying such default shall be paid by the Lessee to the Lessor forthwith on demand. 

 

	9.4	 Default by Lessee 

 

	 	(a)	 If at any time during the occupation of the Premises by the Lessee: 

 

	 	(i)	 any rent or other moneys payable by the Lessee are in arrears for more than fourteen (14) days although
no formal demand therefore has been made; or 

  
 22 

	 	(ii)	 in case of default by the Lessee in respect of any obligation on the part of the Lessee arising out of any
term condition or covenant contained in this Lease and such default is continued for fourteen (14) days or in the case of repairs required to be effected by the Lessee such repairs are not completed within a reasonable time; or

  

	 	(iii)	 execution be levied against any of the assets of the Lessee; or 

 

	 	(iv)	 the Lessee (being a natural person) is convicted of any indictable offence; or 

 

	 	(v)	 the Lessee (being a company) either: 

 

	 	(1)	 goes into liquidation (other than a voluntary liquidation for the purpose of
re-organisation); or 

  

	 	(2)	 is wound up or dissolved; or 

 

	 	(3)	 enters into a scheme of arrangement with its creditors or any class thereof; or 

 

	 	(4)	 is placed under official management; or 

 

	 	(5)	 a receiver or manager of any of its assets is appointed; or 

 

	 	(6)	 an administrator or controller is appointed pursuant to Corporations Act 

then notwithstanding any prior waiver or failure to take action by the Lessor or indulgence granted by the Lessor to the
Lessee in respect of any such events whether past or continuing it shall be lawful for the Lessor or any other person duly authorised by it (subject to due compliance with Section 10 of the Landlord and Tenant Act 1936 (as amended)(if
applicable)) to: 
 re-enter upon the Premises or any part thereof in the name of
the whole and thereby determine the estate of the Lessee; and to remove or otherwise deal with as provided in clause 6.7 all goods fittings fixtures and effects found on the Premises without prejudice to the rights of the Lessor in respect of any
action or any remedy for arrears of rent or breach of covenant or damages as the result of any such event. 
  

	 	(b)	 Essential Terms 

  

	 	(i)	 Each of the covenants by the Lessee which are specified in this paragraph are essential terms of this Lease:

  

	 	(1)	 the covenant to pay rent and additional payments throughout the term of this Lease as provided for in clause
4 hereof; 

  

	 	(2)	 clause 5 hereof relating to Assignment and Sub-letting;

  

	 	(3)	 clause 8.1 hereof relating to the use of the Premises by the Lessee; 

 

	 	(4)	 clause 6.3 hereof relating to the Reinstatement by the Lessee. 

 

	 	(ii)	 In respect of the Lessee’s obligations to pay rent the acceptance by the Lessor of arrears or of any
late payment of rent shall not constitute a waiver of the essentiality 

  
 23 

	 	 
of the Lessee’s obligation to pay interest in respect of those arrears or of the late payments or in respect of the Lessee’s continuing obligation to pay rent during the Lease term.

  

	 	(iii)	 The Lessee hereby covenants to compensate the Lessor in respect of any breach of an essential term of this
Lease and the Lessor is entitled to recover damages from the Lessee in respect of such breach. The Lessor’s entitlement under this clause is in addition to any other right remedy or entitlement to which the Lessor is entitled (including the
right to re-enter and determine the estate of the Lessee) and shall not be prejudiced by the exercise of the right of re-entry. 

 

	 	(c)	 Damages in respect of Repudiation or Breach by Lessee 

 

	 	(i)	 In the event that the Lessee’s conduct (whether by way of action or omission) constitutes a repudiation
of this Lease (or of the Lessee’s obligations under this Lease) or constitutes a breach of any covenant contained in this Lease, the Lessee covenants to compensate the Lessor for the loss or damage suffered by reason of the repudiation or
breach. 

  

	 	(ii)	 The Lessor shall be entitled to recover damages against the Lessee in respect of repudiation or breach of
covenant for the damage suffered by the Lessor during the entire term of this Lease. 

  

	 	(iii)	 The Lessor’s entitlement to recover damages shall not be affected or limited by any of the following:

  

	 	(1)	 if the Lessee shall abandon or vacate the Premises; 

 

	 	(2)	 if the Lessor shall elect to re-enter or to determine the estate of
the Lessee; 

  

	 	(3)	 if the Lessor shall accept the Lessee’s repudiation; 

 

	 	(4)	 if the parties’ conduct shall constitute a surrender by operation of law. 

 

	 	(iv)	 The Lessor shall be entitled to institute legal proceedings claiming damages against the Lessee in respect
of the entire Lease term including the periods before and after the Lessee has vacated the Premises and before and after the abandonment termination repudiation acceptance of repudiation or surrender by operation of law referred to in paragraph (c)
(iii) (4) of this clause 9.4 whether the proceedings are instituted either before or after such conduct. 

  

	 	(v)	 In the event of the Lessee vacating the Premises whether with or without the Lessor’s consent the
Lessor shall be obliged to take reasonable steps to mitigate its damages and to endeavour to lease the Premises at a reasonable rent and on reasonable terms. The Lessor’s entitlement to damages shall be assessed on the basis that the Lessor
should have observed the obligation to mitigate damages contained in this paragraph. The Lessor’s conduct in pursuance of the duty to mitigate damages shall not by itself constitute acceptance of the Lessee’s breach or repudiation or a
surrender by operation of law. 

  
 24 

	9.5	 Right for Lessor to Vary Operating Procedures and Building Regulations 

The Lessor shall have the right to vary or amend from time to time the Operating Procedures and Building Regulations contained
in Part B of the Second Schedule by written notice given to the Lessee PROVIDED THAT no such variation or amendment shall derogate from the rights of the Lessee under this Lease and in the event of any inconsistency between the provision of
this Lease and the Operating Procedures and Building Regulations the provisions of this Lease shall prevail. 
  

	9.6	 Fire Drills and Evacuation Procedures 

The Lessor shall have the right to require the Lessee to perform from time to time fire drills and observe all necessary and
proper emergency evacuation procedures and the Lessee and persons under its control shall co-operate fully with the Lessor in performing such drills and procedures PROVIDED THAT in requiring the Lessee
and persons under its control to carry out such drills and procedures the Lessor shall use its best endeavour to minimise any disturbance thereby caused to the Lessee in its occupation and use of the Premises AND IT IS FURTHER PROVIDED THAT the
Lessor shall not be liable for any loss or damage to the Lessee’s property nor shall it be liable for any death or injury caused to the Lessee its servants agents customers or invitees as a result of any fire drills or other procedures
requested by the Lessor under this sub-clause (other than where caused by the negligent acts or omissions of the Lessor or the Lessor’s agents) and the Lessee hereby indemnifies and agrees at all times to
keep indemnified the Lessor in respect of any cost claim demand suit action or legal proceedings against the Lessor in respect of any loss damage death or injury arising from any request under this clause. Any
non-compliance by the Lessee of its obligation under this clause shall be deemed to be a default for the purpose of clause 9.4(b). 
  

	9.7	 Power of Attorney in Favour of Lessor Upon Lessee’s Default 

Should the Lessor become entitled to re-enter and take possession of the Premises and
determine this Lease after necessary compliance with any relevant statutory provision as to the exercise of rights of forfeiture (of which the statutory declaration of any officer of the Lessor shall be conclusive evidence for the purpose of the
Registrar General) the Lessee hereby irrevocably appoints the Lessor to be the attorney of the Lessee for it in its name and as its act and deed from time to time if and when such attorney shall think fit for the purpose of giving full effect to the
power of re-entry to execute and to procure the registration of a surrender of this Lease and to record this power of attorney and procure to be done any act matter or thing which may be required to give full
effect thereto according to the Real Property Act 1886 (as amended) or to any other law or usage for the time being in force in the State of South Australia and all and whatsoever such attorney shall lawfully do or purport to do or cause to be done
by virtue of the said appointment is ratified and confirmed by this Lease. 
  

	10.	 COVENANTS BY LESSOR 

 

	10.1	 Services to be Provided by Lessor 

The Lessor shall provide the Building Services and will use his best endeavours to ensure that subject to subclause 10.2 such
services are operable at all times. 
  

	10.2	 If it shall be necessary for the Lessor to temporarily withdraw the provision of any of the Building
Services for the purposes of either maintenance, or repair, or in the course of renovating or refurbishing the building or the premises, then the Lessor shall undertake such maintenance, repairs, renovations or refurbishment promptly in accordance
with the requirements of all laws and 

  
 25 

	 	 
regulations for the time being in force in South Australia and at such times and in such manner as having regard to the circumstances of the case will: 

 

	 	(a)	 minimise the Lessee’s loss of use of such Building Services; and 

 

	 	(b)	 cause as little inconvenience as possible to the Lessee and the activities of the Lessee upon the premises.

  

	10.3	 Quiet Enjoyment 

 

	 	(a)	 The Lessor shall pay all rates taxes and assessments charged upon the land or the Building except those
which the Lessee is obliged to pay. 

  

	 	(b)	 The Lessee upon paying the rent and other moneys payable to the Lessor and upon performing the Lessee’s
obligations under this Lease shall and may peaceably possess and enjoy the Premises during the continuance of this Lease without any undue interruption or disturbance from the Lessor or any person rightfully claiming through under or in trust for
the Lessor. 

  

	11.	 MISCELLANEOUS 

 

	11.1	 Damage to the Building and to the Premises 

In case any part of the Building shall be damaged or destroyed by fire or any other cause so as to render the same unfit for
the occupation and use by the Lessee or any other tenant or occupier of the Building then this Lease and the term hereby granted may (whether or not the Premises have been damaged or destroyed) at the option of the Lessor be absolutely terminated
and at an end upon the Lessor giving to the Lessee notice in writing to that effect and thereupon the Lessee shall cease to have any claim for or right to recover any damages by reason of such termination but without prejudice to the rights of
either party for an antecedent breach of covenant or in the event that the Lessor shall not elect so to terminate this Lease and as a result of such damage or destruction the Premises are not fit for the occupation of the Lessee then PROVIDED such
damage or destruction has not been occasioned by any act or neglect of the Lessee the rent reserved by this Lease or a proportionate part thereof according to the nature and extent of the damage shall abate. 

Any dispute arising under this provision as to the amount of rent to be abated shall be determined by an expert valuer
selected by mutual agreement between the Lessor and the Lessee PROVIDED THAT should the parties be unable to agree on such a valuer then either the Lessor or the Lessee may request the President of the South Australian Division of the
Australian Property Institute Limited (or should that Institute then have ceased to exist the President or other principal officer for the time being of such body or association as then serves substantially the same objects as that Institute) to
nominate a valuer who shall make a final determination of the amount by which the rent reserved is to be abated and of the duration of such abatement and in making such determination such valuer shall be deemed to be acting as an expert and not as
an arbitrator and the costs incurred in having such determination made shall be borne equally by the parties AND PROVIDED FURTHER that if the Premises be so damaged or destroyed during the term of this Lease and the Lessor shall not within a
reasonable time notify the Lessee of its intention to restore the Premises and thereafter with all reasonable speed proceed to restore the same THEN the Lessee shall have the right to terminate this Lease by notice in writing to the Lessor
and the term hereby granted shall cease upon the giving of such notice without prejudice to the rights of either party for any antecedent breach of covenant. 

  
 26 

	11.2	 Termination of Lease on Total Destruction of the Building  

If the Building shall be totally destroyed then: 
  

	 	(a)	 this Lease may be determined by written notice by either the Lessor or the Lessee without liability
attaching to either party by reason of such determination; 

  

	 	(b)	 nothing herein contained or implied shall be deemed to impose any obligation on the Lessor to rebuild or
reinstate or make fit for occupation the Premises or the Building. 

  

	11.3	 Lessee to Pay Lessor’s Costs 

In addition to the rent and other moneys reserved by this Lease the Lessee shall pay: 

 

	 	(a)	 one half of the Lessor’s legal costs of the preparation of this Lease including mortgagee consent fees
and the whole of any stamp duty and registration fees with each party bearing their own costs of the negotiations in respect of this Lease; 

  

	 	(b)	 the cost of preparation of any plans (if required) in relation to this Lease; 

 

	 	(c)	 all costs charges and expenses for which the Lessor shall become liable in consequence of or in connection
with any breach or default by the Lessee in the performance or observance of any of the terms covenants and conditions of this Lease. 

  

	11.4	 Lessee to Permit Inspection and Display of Signs 

The Lessee will at all reasonable times permit the Lessor to exhibit the Premises to prospective purchasers and will during
the period of six (6) months prior to the termination of this Lease permit the Lessor at all reasonable times to exhibit the premises to prospective tenants. 
  

	11.5	 Notice 

Any notice or other document required to be given or served under this Lease may be given or served: 

 

	 	(a)	 in any manner mentioned in Section 276 of the Real Property Act 1886 (as amended); or

  

	 	(b)	 by registered post; or 

 

	 	(c)	 by means of any document exchange service of which the party to be served is a member and any notice or
other document shall when given or served by either of the methods mentioned in subclause (b) or (c) be deemed to have been given or served and received by the other party two (2) days after the date of posting or delivery at the document
exchange whether actually received or not AND in the case of any notice or document required to be served or given by the Lessor to the Lessee the same may be signed on behalf of the Lessor by its managing agent manager secretary assistant secretary
or solicitor. 

  

	11.6	 Necessary Consents 

It is hereby expressly agreed and declared between the parties hereto that insofar as any consent or approval may be required
from any Governmental Local Governmental Municipal Semi-Governmental or planning authority to this Lease or the terms hereof this Lease is made expressly subject to the obtaining of any such consent or
approval. It is acknowledged by the parties 

  
 27 

 
that should the obtaining of any such consent or approval be overlooked for any reason whatsoever neither party may use any such lack of consent or approval to avoid the terms hereof until such
time as either or both parties have had a reasonable opportunity of obtaining any such consent or approval as may be required. 
  

	11.7	 Yielding Up 

Subject to clause 6 hereof the Lessee will forthwith upon the expiration or sooner determination of this Lease peaceably
surrender and yield up to the Lessor the Premises clean and free from rubbish and in good and substantial repair and condition fair wear and tear excepted. All keys and access cards must be returned to the Lessor. 

 

	12.	 SPECIAL COVENANTS AND CONDITIONS 

It is hereby covenanted agreed and declared that the special conditions contained in the Fourth Schedule shall apply to this
Lease to the extent that if there is any inconsistency between the foregoing covenants and conditions and the special covenants and conditions contained in the Fourth Schedule then the latter shall prevail. 

  
 28 

 FIRST SCHEDULE 

Inventory of Lessor’s Fixtures and Fittings 
  

					
	 	 
	 Description/Item
	  	 Condition of Item at Commencement
Date

			
	 1.
	  	 Carpet
	  	 New

			
	 2.
	  	 Blinds
	  	 Good

			
	 3.
	  	 Light Fittings
	  	 Good

			
	 4.
	  	 Partitions
	  	 Good

			
	 5.
	  	 Fire Extinguishers
	  	 Good

  
 29 

 SECOND SCHEDULE 

Part A – Services to be Provided by Lessor Under Clause 10.1 

 
  

Air Conditioning 
 The Lessor shall make all
reasonable endeavours to maintain Air Conditioning flow as follows: 
 Internal temperature: 

22°C + or - 2°C - BB/18 Dec C WB 

Outside Ambient: 

38°C DB/21°C Wetbulb (Summer) 

8°C DB (Winter) 

However, the Lessor does not guarantee the constant maintenance of the Air Conditioning flow as set out above. 

 
  

Part B – Operating Procedures and Building Regulations 

Subject to Lessor’s Right to Vary Under Clause 9.5 
  

 
  

	1.	 The Lessee shall not in any way obstruct or permit the obstruction of the pavements entrances arcades
vestibules corridors passages halls elevators stairways fire doors and escape doors relating to the Building or use them or any of them for any other purpose than for ingress or egress. 

 

	2.	 The Lessee shall not inscribe paint display or affix any sign advertisements name flagpole flag or notice on
any part of the outside or inside of the Building except with the prior written consent of the Lessor and then only of such colour size and style and in such place or places as shall be first approved by the Lessor. The cost of affixing the
Lessee’s name and description on the directory boards in main foyer and on the Lessee’s floor shall be paid by the Lessee. 

  

	3.	 No window blind window screen awning or floor covering shall be erected or installed without the prior
written approval of the Lessor. 

  

	4.	 Except with the prior written consent of the Lessor no musical instruments shall be played in or about the
Building but this rule shall not prohibit the Lessee from playing background recorded music provided the volume is kept at a level which does not cause a nuisance or annoyance to other Lessees or users of the Building. 

 

	5.	 Except with the prior written consent of the Lessor there shall be no cooking of food in the Premises or the
Building and no animals or birds shall be kept in the Building or be brought into the Building. 

  
 30 

	6.	 The Lessee shall not throw anything out of the windows or doors or down any elevator shaft passage or
skylight or into any light area of the Building or deposit waste paper or rubbish anywhere except in prior receptacles or place upon any sill ledge or other like part of the Building or the common Areas any articles or substance.

  

	7.	 The Lessee shall not use any method of lighting cooling or heating other than as prescribed and fixed by the
Lessor or under special agreement made with the Lessor for the purpose. 

  

	8.	 The Lessee will use or permit to be used for the receipt delivery or other movement of any goods wares or
merchandise or articles of bulk or quantity only such parts of the Premises and the Common Areas and at such times as the Lessor may from time to time permit and the Lessee will generally comply with all reasonable requirements of the Lessor in
regard to such matters. 

  

	9.	 The Lessee shall not leave any doors or windows unlocked or unfastened when the Premises are left unoccupied
and the Lessor reserves the right for the Lessor caretaker or other duly authorised persons to enter the Premises and fasten the same if left insecurely fastened. 

 

	10.	 The Lessor will provide keys for locks on doors or other openings of the Premises and the Lessee will return
to the Lessor on the determination of the Lease all such keys whether the same have been supplied by the Lessor or otherwise acquired by the Lessee and shall not permit the same at any time to come into the possession of any person other than the
Lessee or the Lessee’s servants and agents. 

  

	11.	 No rubbish or waste shall at any time be burned by the Lessee in the Building. 

 

	12.	 The Lessee shall not conduct or permit to be conducted on the Premises any auction bankrupt or fire sale.

  

	13.	 The Lessee shall not use or permit to be used the Common Areas or any parking area or any part thereof for
any business or commercial purpose or the display or advertisement of any goods or services or generally for any purpose other than a purpose for which the same was intended or provided. 

 

	14.	 No nails screws or hooks shall be driven into any parts of the Building or the partitions therein without
the Lessors prior written consent nor shall any explosive power driven method of fixing articles to ceilings walls or floors be used. 

  

	15.	 The Lessee shall not use or cause to be used in the Premises any chairs with castors unless each of the
castors of such chairs are fitted with dual wheels of a type and standard approved by the Lessor and the chairs are only used on protective mats. 

  
 31 

 THIRD SCHEDULE 

Lessee’s Contribution to Outgoings of the Building 
  

	1.	 The Lessee shall pay to the Lessor that percentage stated in Item 18(a) of the Reference Schedule of the
amount by which the outgoings of the Building for each year of the term of this Lease commencing on 1st July and ending 30th June in each such year exceed the total calculated by reference to paragraph 3 of this Schedule (hereinafter called
“the base figure”). The Lessor will provide the Lessee within 30 days of the end of each 30th June an invoice for any amount due under this clause together with a statement setting out and detailing the amount by which outgoings exceed the
base figure. To avoid doubt, no such amounts are payable by the Lessee in respect of the period form the commencement of the Lease to and including 31 May 2021. 

 

	2.	 For the purpose of this Lease “the outgoings of the Building” shall mean the total sum of all
rates taxes costs and expenses of the Lessor properly or reasonably assessed or assessable paid or payable or otherwise properly and reasonably incurred in respect of the Building or the Land and in relation to the control management and maintenance
of the Building and without limiting the generality of the foregoing shall include: 

  

	 	(a)	 all rates taxes levies charges assessments duties impositions and fees at any time or from time to time
payable to any Government local Government semi-Government or other competent authority in respect of the Land and/or Building irrespective of the ownership thereof; 

 

	 	(b)	 all charges for and costs in relation to the supply of water sewerage and drainage; 

 

	 	(c)	 all amounts payable in respect of insurance relating to the Building including public risk and loss of rents
insurance; 

  

	 	(d)	 all reasonable costs (inclusive of wages) of the management control and administration of the Building;

  

	 	(e)	 the costs of operating supplying maintaining repairing and renovating all services (except repairs of a
structural nature) from time to time provided by the Lessor for tenants and occupiers of the Building including public lighting, exhaust systems and lifts (if any) and the plant and equipment required for any such services; 

 

	 	(f)	 the cost of supplying maintaining repairing and renovating the airconditioning plant servicing the Building
(except repairs of a structural nature); 

  

	 	(g)	 the cost of general repairs and maintenance of the Building (except repairs of a structural nature); and

  

	 	(h)	 the cost of fire protection of the Building. 

For the purposes of the above the outgoings will not include capital costs in replacing any Building plant and equipment. 

 

	3.	 For the purposes of this lease the base figure for the calculation of increases in the outgoings of the
Building shall be deemed to be the sum of the following: 

  

	 	(a)	 Council Rates, Emergency Services Levy and State Land Tax 

  
 32 

 Rates, levy and tax payable for the year ending 30th June 2021. 

 

	 	(b)	 Water Sewerage and Drainage Rates 

Rates payable for the year ending 30th June 2021 
  

	 	(c)	 The sum of all outgoings costs and expenses as defined in paragraph 2 (Items (c) to (h)) for the year
ending 30th June 2021 

  
 33 

 FOURTH SCHEDULE 

SPECIAL COVENANTS AND CONDITIONS 
  

	1.	 CAR PARKING 

 

	 	(a)	 In consideration of the rental payable under this Lease by the Lessee the Lessor HEREBY FURTHER
AGREES to allow the Lessee and persons under its control to use eighteen (18) car parking spaces for the sole purpose of the parking of passenger motor vehicles to the intent that the rent reserved by this Lease (as reviewed from time to
time) shall include the use of the said car parking spaces on the following terms and conditions: 

  

	 	(i)	 the rights of use of the said car parking spaces shall not be assigned or sublet to any person or body
corporate (including but without limiting the generality thereof any employee servant or agent of the Lessee) without the prior written approval of the Lessor being first had and obtained and shall cease forthwith upon the expiration of the term of
this Lease or upon sooner determination hereof; 

  

	 	(ii)	 the right of the Lessee in relation to the car parking space shall rest in contract only and shall not
create in or confer upon the Lessee any tenancy or any estate or interest in the said car parking spaces and the rights of the Lessee therein shall be those of a licensee only and the Lessor shall be at liberty upon giving reasonable notice to the
Lessee to re-locate the car parking spaces available to the Lessee. 

  

	2.	 LEASING OF PARTITIONS 

Notwithstanding anything contained herein but without prejudice to the other covenants of the Lessee herein contained, in the
event that the Lessee proposes to lease fixed partitions or any other fixture in the Premises the Lessee hereby covenants that it shall first procure the Lessor as a party to any leasing agreement which such leasing agreement shall include a clause
satisfactory to the Lessors’ solicitors to the effect that the Lessor of any such fixed partitions or other fixtures shall covenant with the Lessor of this Lease to make good and repair any defacement or damage caused to the Premises and to
properly clean the Premises as a result of removal of any such partitions or other fixtures in the exercise of the rights of the Lessor under any such leasing agreement. 
  

	3.	 ACCESS TO PREMISES 

Notwithstanding anything contained in the covenants to this Lease or contained in the Operating Procedures and Building
Regulations contained in the Second Schedule hereto the Lessor and the Lessee hereby further covenant and agree that the Lessor shall allow the Lessee to have twenty four (24) hour access to the Premises seven (7) days a week PROVIDED THAT
the Lessee strictly observes the security procedures for the Building including but without limiting the generality thereof the keeping of all doors and windows and openings used by the Lessee to gain access to the Premises outside normal business
hours securely locked and fastened AND FURTHER that the Lessee shall be responsible for the cost and replacement or making good of any loss or damage caused to the Lessor’s property or the property of any other tenant in the Building in the
event that the Lessee fails to strictly observe such security procedures and any such loss or damage occurs solely or partly due to the failure by the Lessee to strictly observe such security procedures. 

  
 34 

	4.	 CONFIDENTIALITY 

The terms and conditions of this Lease shall remain confidential in all respects between the Lessor and the Lessee and shall
not be divulged to any other party or organization without mutual consent unless required by law to do so. 
  

	5.	 BANK GUARANTEE 

A Bank Guarantee (expiring no earlier than two (2) months after expiry of the Lease) equivalent to six (6) calendar
months rental hereunder plus GST on terms and conditions acceptable to the Lessor shall be provided by the Lessee prior to the commencement of the term of this Lease and by any approved assignee prior to the date of assignment of this Lease. The
Lessor will be entitled to draw upon the Bank Guarantee in the event of a breach by the Lessee of any of the terms, conditions, agreements on the Lessee’s part herein contained and the full amount of that Bank Guarantee shall be able to be used
by the Lessor in the event of a breach subject to a subsequent right of the Lessee to a refund of any portion of that Bank Guarantee held by the Lessor after deduction of the Lessor’s reasonable damages and costs and expenses of any kind
arising out of the breach including the Lessor’s loss of rental, costs of re-leasing and all other costs and expenses incurred by it which sum, if any, shall be refunded by the Lessor within a reasonable
time after the Lessor has calculated the Lessor’s damages and costs and expenses incurred therein. 
  

	6.	 AIR CONDITIONING MODIFICATIONS 

The Lessee shall pay to the Lessor upon demand all costs and expenses incurred by the Lessor of and incidental to any
modifications required to the air-conditioning system as a consequence of the Lessee’s fit-out. Three (3) quotations for such modifications shall be obtained
and the lowest quotation shall be accepted. 

  
 35 

 FIFTH SCHEDULE 

RIGHT OF RENEWAL 
  

	1.	 RIGHT OF RENEWAL PROCEDURE 

If the Lessee desires to take a lease of the Premises for any further term specified in Item 10 of the Reference Schedule
(commencing upon the expiration of the then current term) and: 
  

	1.1	 not more than nine (9) months and not less than six (6) months prior to the expiration of the then
current term (of which time shall be of the essence) the Lessee gives notice in writing to the Lessor to that effect; and 

  

	1.2	 the Lessee has not breached or been in default of any of the terms covenants conditions and provisions of
this Lease; and 

  

	1.3	 the Lessee as at the date of such notice is not in breach or default of this Lease; and

  

	1.4	 the Lessee is not subsequently in default of this Lease (save such as shall have been remedied to the
Lessor’s satisfaction). 

 THEN the Lessor will at the cost and expense in all things
(including legal costs and stamp duty) of the Lessee grant a further lease (hereinafter called “the Further Lease”) to the Lessee of the Premises for the further term specified at a rent (determined as hereinafter provided) and otherwise
subject to the same terms covenants provisions and conditions as are in the Lease contained except as provided in clause 2 of this Fifth Schedule PROVIDED THAT if the due observance or performance by the Lessee of its duties and
obligations hereunder shall have been guarantee by any Guarantor then the execution by such Guarantor of such documents or assurances as the Lessor may require for the purpose of affirming or renewing such guarantee for such Further Lease shall be a
condition precedent to the exercise by the Lessee of the right of renewal contained in this Fifth Schedule. 
  

	2.	 FURTHER RIGHTS OF RENEWAL (IF ANY) 

The Further Lease shall not contain any option for renewal if only one further term is specified in Item 10 of the Reference
Schedule. 
 If more than one further term is specified in Item 10 of the Reference Schedule, then Item 10 of the Reference
Schedule will be completed by excluding the period covered by the term of the Further Lease. 

  
 36 

 SIXTH SCHEDULE 

RENT REVIEWS 
  

	1.	 The method of rent review shall be to increase the annual rental payable immediately prior to each of the
review dates specified in Item 11 and Item 12 of the Reference Schedule by three percent (3%). The annual rent percentage increase shall be reviewed prior to a further term. 

 

	2.	 Notwithstanding the above, the method of rent review for the 1st day of June 2026 shall be to review the
rent to the Current Market Rental of the Premises as hereinafter defined. 

 For the purpose of this
Clause the “Current Market Rental” of the Premises shall be a rental to be mutually agreed upon between the Lessor and the Lessee and failing agreement between the Lessor and the Lessee prior to one (1) calendar month before the
relevant date of review the Current Market Rental of the Premises shall be determined by some competent and disinterested Valuer to be nominated upon the written request of either the Lessor or the Lessee by the President or Acting President of the
Australian Property Institute Limited (S.A. Division) at the joint cost of the Lessor and the Lessee and in so determining the Current Market Rental of the Premises such Valuer shall have regard to the definition of “Current Market Rental”
hereinafter appearing. “Current Market Rental” means the best annual rent that can reasonably be obtained in the open market by a willing but not anxious Lessor for the whole of the said premises with or without vacant possession on the
basis of the highest and best use thereof and on the basis of a Lease thereof for the residue of the current Lease term at the relevant review date on such terms and condition as is considered can procure for the Lessor acting reasonably both in the
granting of the term and in fixing the covenants and conditions upon which the terms is to be held and on the basis that the Lessee has complied with all the obligations imposed on the Lessee as to repair and maintenance (but without prejudice to
any rights or remedies of the Lessor in regard thereto) and disregarding (as far as is legally permissible) restrictions relating to rent or to security of tenure contained in any statute or orders rules or regulations thereunder and any directions
thereby given relating to any method of termination of rent such lease being on the same terms and conditions in all other respects as this present demise (save in respect of any restriction herein on the user of the said premises and save in the
case of determination of the Current Market Rent consequent upon the exercise by the Lessee of a covenant for renewal that covenant for renewal) without the payment of any fine or premium and taking into account any increase in the value of the said
premises including but without limited to any increase in value arising from any permanent improvements which were erected or installed at the Lessee’s expense. 

Any incentives provided by the Lessor to the Lessee are to be entirely disregarded when determining the Current Market Rental.

  
 37 

 PLAN 
  

 

  
 38 

 LESSOR WORKS PLAN 

 
 

 

  
 39 

							
	 LESSOR’S EXECUTION
	  		  		  	
				
	 EXECUTED by
	  	)	  		  	
				
	 200 GREENHILL ROAD PTY LTD in accordance with the Corporations Act 2001:
	  	)	  		  	
	  	)	  		  	

  

					
	 /s/ Andrew Elia
	 		  	
	 	 		  	 
			
	 Director
	 		  	 Director/Secretary

			
	 Andrew Elia
	 		  	
	 	 		  	 
			
	 Full Name
	 		  	 Full Name

 *lf only 1 person has signed that person states that he/she is the sole director and sole secretary of the company.

  

							
	 LESSEE’S EXECUTION
	  		  		  	
				
	 EXECUTED by
	  	)	  		  	
				
	 BIONOMICS LIMITED in accordance with the Corporations Act 2001:
	  	)	  		  	
	  	)	  		  	

  

					
	 /s/ Errol De Souza
	 		  	/s/ Suzanne Irwin
	 	 		  	 
			
	 Director
	 		  	 Director/Secretary

			
	 Errol De Souza
	 		  	Suzanne Irwin
	 	 		  	 
			
	 Full Name
	 		  	 Full Name

 *lf only 1 person has signed that person states that he/she is the sole director and sole secretary of the company.

  
 40

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