Document:

Master Services Agreement between the Company and Arch Pharmalabs, Ltd.

 EXHIBIT 10.15 
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
 MASTER SERVICES AGREEMENT 
 This Master Services Agreement, dated August 1, 2006 (the “Agreement”), effective
as of August 1, 2006 (the “Effective Date”), is made and entered into by and between Codexis, Inc., a Delaware corporation, having a place of business at 200 Penobscot Drive, Redwood City, California 94063, USA, (“Codexis”)
and Arch Pharmalabs Limited, a corporation organized and existing under the laws of India, having a place of business at H wing, 4th Floor, Tex
Centre, Chandivali, Mumbai, 400072, India, (“Arch”). 
 WHEREAS, Arch provides services relating to chemical processes and
manufacturing methods; and 
 WHEREAS, Codexis is engaged in pharmaceutical business and desires to utilize the services of Arch to develop
chemical processes and manufacturing methods solely for use by Codexis. 
 NOW THEREFORE, in consideration of the foregoing and the covenants
and promises contained in this Agreement, the parties agree as follows: 
 1. Services: During the term of this Agreement, Arch shall
conduct chemical process and manufacturing method development services (the “Services”) for Codexis utilizing at least an average of [*] Arch full time equivalent employees (“FTE(s)”) per year in accordance with direction from
Codexis and protocol(s) agreed to by the parties in writing, each of which shall specify the particular services to be conducted and the goal of such activities, the number and type of FTE(s) devoted to such protocol, the time frame for conducting
such services, and other relevant matters (each a “Services Protocol”). Each Services Protocol shall reference and incorporate the terms of, and shall be attached as an exhibit to, this Agreement. In the event that any provision of a
Services Protocol contradicts this Agreement, this Agreement shall govern. All FTEs who perform Services under this Agreement shall have appropriate professional and technical training and expertise to conduct the Services. In the event that Codexis
requests that Arch remove a specific FTE assigned by Arch to perform its obligations under a Services Protocol, Arch shall use its best efforts to replace such FTE with an alternative FTE approved by Codexis. The scope of chemical process and
manufacturing method development included within each Services Protocol shall be defined in such Services Protocol and may be amended in writing by the parties from time to time during the term of this Agreement. Arch shall consult with Codexis
regarding all methods, reagents, protocols and the like, and Codexis shall have final approval authority over all aspects of the Services and Services Protocols. Arch shall not conduct activities relating to any compound within a Services Protocol
on its own behalf or any third party during the term of this Agreement or for a period of three (3) years thereafter. Arch will periodically, but not less than once per week, consult with Codexis and keep Codexis fully informed of the progress
of the Services. 
 2. Delivery: Arch shall deliver to Codexis deliverables as set forth in each Services Protocol, which may include,
for example, detailed descriptions of experimental 

 
methods, detailed process protocols, synthesized compounds, analytical methods for testing compounds, periodic status reports in addition to the Final Report
described in Section 5, and/or other analytical procedure data agreed to by the parties in the Services Protocol (the “Results”). For the purpose of clarification, “Results” shall include any compound prepared under a
Services Protocol. The parties shall confer prior to any such delivery of the Results. Title to all Results shall pass to Codexis free and clear of any security interest, lien, or other encumbrance. 
 3. Payments: As consideration for Arch’s performance of the Services during the term of this Agreement, Codexis shall pay to Arch the
following payments: [*]. Such payments shall include all costs and expenses of Arch, including, for example, labor, facilities, analysis, packaging, waste disposal, reports and delivery of the Results to Codexis. Such payments shall also be
inclusive of all taxes, duties or levies of whatsoever in nature, including, for example, excise duty, sales tax, VAT, service tax, if any, levied in connection with or arising out of performance of Services or any other obligation of Arch under
this Agreement. Codexis shall have no obligation to reimburse Arch for any costs, tax, duties or levies and expenses of Arch in excess of such payment. Arch shall also be responsible for all compliance requirements under the applicable laws in
respect of its obligations under this Agreement, and any fines or penalties levied on account of any non-compliance shall be solely borne by Arch. If, in the reasonable opinion of Codexis, Arch has failed to perform or complete its performance under
a Services Protocol or this Agreement, upon a 15-day written notice to Arch by Codexis, Codexis shall have the right to delay or withhold payment until such performance is complete and accepted by Codexis. 
 4. Materials and Equipment: Arch shall be responsible for the procurement, proper quality and documentation of the quality of all materials,
equipment, and facilities used to conduct the Services under this Agreement. 
 5. Records: Arch shall prepare and maintain detailed
laboratory notebook records of the preparation of the Results. Arch shall deliver to Codexis, not later than thirty (30) days following the completion of each Services Protocol, a final report (the “Final Report”) including all
information related to such Services Protocol. Arch shall prepare and deliver complete detailed analytical information requested by Codexis in writing for the purpose of preparing patent applications. Codexis shall be free to disclose and use such
information for any purpose and shall exclusively own all such information. Codexis may audit and copy such records, analytical data, and laboratory notebook records during Arch’s normal business hours. 
 6. Best Efforts: Arch covenants to use best efforts, using no less than commonly accepted professional standards of workmanship, to accomplish the
goals and objectives of the Services conducted under the terms of this Agreement. Arch covenants to not utilize, without Codexis’ prior written consent, any process, device, intermediate, reagent, or composition of matter in the performance of
this Agreement that is not expressly set forth in the Services Protocol. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 
 2 

 7. Ownership and Licenses: Codexis shall own all intellectual property rights relating to the
Results and, except as required to conduct the Services, Arch shall have no right or license in such intellectual property rights. Arch shall retain ownership of intellectual property rights in analytical, manufacturing technologies employed and
controlled by Arch (and not by Codexis) to perform its obligations under this Agreement; provided, however, that Arch hereby grants to Codexis an irrevocable, perpetual, fully paid-up, royalty-free, worldwide, non-exclusive license, with the right
to sublicense, under such intellectual property rights to make, use, sell, offer to sell, import, or export the Results. Codexis may disclose such intellectual property rights in any patent applications filed by Codexis. 
 All information (a) received from Codexis pursuant to this Agreement or (b) obtained as a result of Arch’s performance under this
Agreement as defined in each Services Protocol (collectively, the “Information”) shall be the sole property of Codexis. Arch agrees to disclose promptly to Codexis, and Codexis shall own, all inventions, discoveries, designs, innovations,
improvements, and all other intellectual property rights made or perfected by Arch and/or Codexis in the performance of, or arising out of, the Services and/or the use by Arch of any Information for which Arch has an obligation of confidentiality or
nonuse under Section 8 (the “Discoveries”). Codexis shall have the sole right to file, prosecute, and maintain patent applications and patents in respect of the Information, Discoveries, and/or Results. Arch hereby undertakes and
agrees to execute and have its employees execute such assignments and other papers which, in the reasonable opinion of Codexis, are necessary at any time to permit the filing and prosecution of applications for patents covering claiming Information,
Discoveries, and/or the Results. Arch hereby further agrees that, at Codexis’ request and expense, Arch will assist Codexis in the preparation, filing, and prosecution of such patent applications and patents. To the extent that Arch is or
becomes aware that any of the Information, Discoveries, and/or Results are disclosed publicly, for example in an existing patent/patent application, it shall inform Codexis. 
 8. Confidentiality: Arch shall maintain as confidential all Information, Discoveries, and/or the Results, and shall limit access to Information,
Discoveries, and/or Results to only those persons who, under Arch’s direct control, will be engaged in employing Information for the purposes of fulfilling Arch’s obligations under this Agreement and are under obligations of non-use and
nondisclosure no less protective than those set forth in this Agreement. At no time shall Information be employed for any purpose other than as described in the previous sentence or disclosed or provided to any third party without the prior written
consent of Codexis. The foregoing obligations of confidentiality and nonuse shall continue for [*] years after the termination of the Services corresponding to the Information, Discoveries, and/or the Results, or [*] years after the date of
disclosure by Codexis if no Services Protocol corresponding to the Information is agreed to by the parties. The foregoing obligations of confidentiality and nonuse shall not apply to Information (a) that was known to Arch prior to this
Agreement as evidenced by its written records, except Information that was known to Arch as a result of prior confidential disclosures to Arch by Codexis or work performed by Arch for Codexis; (b) that is or becomes generally available to the
public by use, publication or the 

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 
 3 

 
like, through no fault of Arch; or (c) that is disclosed to Arch by a third party who has the legal right to disclose Information. Except as otherwise
agreed to herein, if Arch is requested or required by law to disclose any Information, Discoveries, and/or Results to an authorized government agency or to any other party, Arch shall immediately notify Codexis in writing of all details of the
request or requirement and give Codexis sufficient opportunity to contest such request or requirement and/or obtain an appropriate protective order prior to Arch making any such disclosure. Notwithstanding (a), (b), or (c) above, Information
shall not be deemed to be within any of the exceptions merely because (i) it is specific but is embraced by more general information coming within one of the exceptions, (ii) it is a combination of features for which the individual
features come within one of the exceptions, or (iii) it is Information related to Information which comes within one of the exceptions. 
 9. Term and Termination: 
 9.1 This Agreement shall begin on the Effective Date and expire [*] after the Effective Date
unless terminated earlier pursuant to this Section 9. 
 9.2 Upon [*] notice from Codexis, Codexis shall have the right at any time to
terminate this Agreement and/or the Services, in whole or in part, prior to completion. Such termination by Codexis shall not relieve Codexis of its obligations under this Agreement to pay Arch under Section 3 on a pro rata basis for all work
completed by Arch for Codexis prior to such termination date; provided, however, such obligation to pay shall not exceed the price set forth in Section 3. 
 9.3 Either party may terminate this Agreement at any time if the other party fails to perform any material obligation, covenant, condition, or limitation herein, provided such other party shall not have remedied its
failure within [*] days after receipt of written notice from the terminating party of such failure. 
 9.4 Sections 2, 4–8, 9.4, and
10–23 shall survive expiration or termination of this Agreement. 
 10. Indemnification: 
 10.1 Codexis Indemnity: Codexis shall indemnify and hold harmless Arch, its directors, officers, and employees, from and against any and all
liability, damage, loss, cost (including reasonable attorneys’ fees), and expense resulting from claims of any kind and character by any third party (including, without limitation, employees or agents of Codexis) with respect to the Results
supplied to Codexis pursuant to this Agreement. Notwithstanding the foregoing, Arch shall not be entitled to indemnification under this Section 10.1 against any claim to the extent resulting from Arch’s negligence or willful misconduct or
directly arising out of Arch’s performance of its obligations hereunder. 
 10.2 Arch Indemnity: Arch shall indemnify and hold
harmless Codexis, its directors, officers, and employees, from and against any and all liability, damage, loss, 

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 
 4 

 
cost (including reasonable attorneys’ fees), and expense resulting from claims of any kind and character by any third party (including, without
limitation, employees or agents of Arch) arising out of or in connection with Arch’s performance under this Agreement, including, without limitation, liability, damage, loss, cost, and expense arising out of or in connection with the disposal
of waste chemicals and solvents, and the failure to use materials, equipment, and facilities of appropriate quality in conduct of the Services. Notwithstanding the foregoing, Codexis shall not be entitled to indemnification under this
Section 10.2 against any claim to the extent resulting from Codexis’ negligence or willful misconduct in the course of Codexis’ performance of its obligations hereunder. 
 11. Limitation of Liability: EXCEPT WITH RESPECT TO UNAUTHORIZED EXPLOITATION OF CODEXIS’ INTELLECTUAL PROPERTY RIGHTS OR BREACH OF THE
CONFIDENTIALITY OBLIGATIONS UNDER THIS AGREEMENT, IN NO EVENT WILL ANY PARTY OR ANY OF ITS RESPECTIVE AFFILIATES BE LIABLE TO THE ANY OTHER PARTY OR ANY OF ITS AFFILIATES FOR SPECIAL, INDIRECT, CONSEQUENTIAL, INCIDENTAL, EXEMPLARY, OR PUNITIVE
DAMAGES, WHETHER IN CONTRACT, WARRANTY, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE. 
 12. Assignment: The parties recognize
that the rights and obligations provided by Arch under this Agreement are unique and personal to Arch, and thus Arch shall not assign this Agreement or any interest under this Agreement under any circumstances without Codexis’ consent, and any
assignment by Arch without Codexis’ consent shall be null and void. Codexis, however, may assign this Agreement or any interest under this Agreement without Arch’s consent. 
 13. Waiver: No provision of this Agreement shall be waived by any act, omission or knowledge of a party or its agents or employees except by an
instrument in writing expressly waiving such provision and signed by a duly authorized officer of the waiving party. A waiver by any party of any of the terms and conditions of this Agreement in any instance will not be deemed or construed to be a
waiver of such term or condition for the future, or of any subsequent breach of this Agreement. All rights, remedies, undertakings, obligations, and agreements contained in this Agreement will be cumulative and none of them will be in limitation of
any other remedy, right, undertaking, obligation, or agreement of either party. 
 14. Severability: Whenever possible, each provision
of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision will be ineffective only to
the extent of such prohibition or invalidity without invalidating the remainder of this Agreement. 
 15. Notices and Deliveries: Any
notice, request, delivery, approval, or consent required or permitted to be given under this Agreement will be in writing and will be deemed to have been sufficiently given if delivered in person, transmitted by telecopier (receipt verified) or by
express courier service (signature required) or ten (10)

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 
 5 

 
days after it was sent by registered letter, return receipt requested (or its equivalent), provided that no postal strike or other disruption is then in
effect or comes into effect within two (2) days after such mailing, to the party to which it is directed at its address or facsimile number shown below or such other address or facsimile number as such party will have last given by notice to
the other party. 
 If to Codexis, addressed to: 
 Codexis, Inc. 
 200 Penobscot Drive 
 Redwood City, CA 94063 
 United States of America 
 Attn.: [*] 
 Facsimile: [*] 
 If to Arch, addressed to:

 Arch Pharmalabs Limited 
 H wing, 4th Floor 
 Tex Centre 
 Off Saki Vihar Road 
 Chandivali, Mumbai- 400072 
 India 
 Attn.: [*] 
 Facsimile: [*] 
 16. Independent Contractors: The relationship between Codexis and Arch created by this Agreement is one of
independent contractors and neither party shall have the power or authority to bind or obligate the other except as expressly set forth in this Agreement. Arch shall use its own discretion and shall have complete and authoritative control over its
employees and the details of performing its obligations under this Agreement. Any provisions in this Agreement which may appear to give Codexis the right to direct or exercise a measure of control over Arch as to the details of performing its
obligations under this Agreement shall be deemed to mean that Arch shall follow the desires of Codexis. However, such provisions will not entitle Codexis to utilize Arch’s facilities or office space at its discretion or control. 
 17. No Third Party Beneficiaries: This Agreement is neither expressly nor impliedly made for the benefit of any party other than those executing
it. 
 18. Force Majeure: Neither party shall be liable for its failure to perform hereunder as a result of any event of force majeure
beyond the party’s reasonable control including, but not limited to, acts of God, fire, flood, wars, sabotage, civil strife or demonstrations, accidents, strikes, lockouts or other labor disputes, shortages, government actions, or regulations,
inability to obtain supplies, raw materials or transportation or preparation failure (other than due to operator error). If either party’s 

  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 
 6 

 
performance is prevented in whole or part by any such event, such party shall be excused any of its obligations hereunder during the period of delay of
performance resulting from such event. 
 19. Entire Agreement; Amendments: This Agreement constitutes and contains the entire
understanding and agreement of the parties respecting the subject matter of this Agreement and cancels and supersedes any and all prior and contemporaneous negotiations, correspondence, understandings, and agreements between the parties, whether
oral or written, regarding such subject matter. No modification of this Agreement shall be effective unless made in writing and signed by a duly authorized representative of each party. 
 20. Governing Law; Jurisdiction: This Agreement shall be governed by and interpreted in accordance with the laws of the State of New York
excluding conflict or choice of laws principles that would result in the application of the laws of any jurisdiction other than the State of New York. 
 21. Names: Both parties agree that they will not use the name of the other party or any of its personnel for promotional literature or advertising without the prior written approval of the other party.

 22. Compliance with Laws: Notwithstanding anything to the contrary contained herein, all rights and obligations of the parties are
subject to prior compliance with, and each party shall comply with, all U.S. and foreign export and import laws, regulations, and orders, and such other United States and foreign laws, regulations, and orders as may be applicable, including
obtaining all necessary approvals required by the applicable agencies of the governments of the United States and foreign jurisdictions. 
 23. Interpretation: The descriptive headings of this Agreement are for convenience only and shall be of no force or effect in construing or interpreting any of the provisions of this Agreement. All references in this Agreement to the
singular shall include the plural where applicable, and all references to gender shall include both genders and the neuter. Unless otherwise specified, references in this Agreement to any section shall include all subsections in such section. All
references to days in this Agreement shall mean calendar days, unless otherwise specified. 
 24. Counterparts: This Agreement and the
Services Protocol(s) may be executed simultaneously in any number of counterparts, any one of which need not contain the signature of more than one party but all such counterparts taken together will constitute one and the same agreement.

 [Signature Page Follows] 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 
 7 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by
their respective duly authorized officers as of the Effective Date, each copy of which will for all purposes be deemed to be an original. 
  

							
	CODEXIS, INC.	 	ARCH PHARMALABS LIMITED
	(“Codexis”)	 	(“Arch”)
				
	By:	 	 /s/ Robert S. Breuil
	 	By:	 	 /s/ Ajit Kamath

	Name:	 	Robert S. Breuil	 	Name:	 	Ajit Kamath
	Title:	 	CFO	 	Title:	 	CMD

 Exhibits 
 Service Protocols 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions.Lease Agreement by and btwn Metropolitan Life Insurance Company and the Company

 Exhibit 10.16 
 LEASE 
 BETWEEN 
 METROPOLITAN LIFE INSURANCE COMPANY (LANDLORD) 
 AND 
 CODEXIS, INC. (TENANT) 
 SEAPORT CENTRE 
 Redwood City, California 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	 	  	PAGE
		
	ARTICLE ONE - BASIC LEASE PROVISIONS	  	1
		 	1.01	  	BASIC LEASE PROVISIONS	  	1
		 	1.02	  	ENUMERATION OF EXHIBITS	  	3
		 	1.03	  	DEFINITIONS	  	4
		
	ARTICLE TWO - PREMISES, TERM, FAILURE TO GIVE POSSESSION, COMMON AREAS AND PARKING	  	10
		 	2.01	  	LEASE OF PREMISES	  	10
		 	2.02	  	TERM	  	10
		 	2.03	  	FAILURE TO GIVE POSSESSION	  	10
		 	2.04	  	AREA OF PREMISES	  	11
		 	2.05	  	CONDITION OF PREMISES	  	11
		 	2.06	  	COMMON AREAS & PARKING	  	13
		
	ARTICLE THREE - RENT	  	15
		
	ARTICLE FOUR - OPERATING EXPENSES, RENT ADJUSTMENTS AND PAYMENTS	  	15
		 	4.01	  	TENANTS SHARE OF OPERATING EXPENSES	  	15
		 	4.02	  	RENT ADJUSTMENTS	  	16
		 	4.03	  	STATEMENT OF LANDLORD	  	16
		 	4.04	  	BOOKS AND RECORDS	  	17
		 	4.05	  	TENANT OR LEASE SPECIFIC TAXES	  	18
		
	ARTICLE FIVE - SECURITY DEPOSIT	  	18
		 	5.01	  	CASH DEPOSIT	  	18
		 	5.02	  	LETTER OF CREDIT	  	20
		
	ARTICLE SIX - UTILITIES & SERVICES	  	22
		 	6.01	  	LANDLORD’S GENERAL SERVICES	  	22
		 	6.02	  	TENANT TO OBTAIN & PAY DIRECTLY	  	22
		 	6.03	  	TELEPHONE SERVICES	  	22
		 	6.04	  	FAILURE OR INTERRUPTION OF UTILITY OR SERVICE	  	23
		 	6.05	  	CHOICE OF SERVICE PROVIDER	  	24
		 	6.06	  	SIGNAGE	  	24
		
	ARTICLE SEVEN - POSSESSION, USE AND CONDITION OF PREMISES	  	25
		 	7.01	  	POSSESSION AND USE OF PREMISES	  	25
		 	7.02	  	HAZARDOUS MATERIAL	  	26
		 	7.03	  	LANDLORD ACCESS TO PREMISES; APPROVALS	  	28
		 	7.04	  	QUIET ENJOYMENT	  	29
		
	ARTICLE EIGHT - MAINTENANCE	  	29

  

 i 

							
		 	8.01	  	LANDLORD’S MAINTENANCE	  	29
		 	8.02	  	TENANTS MAINTENANCE	  	30
		
	ARTICLE NINE - ALTERATIONS AND IMPROVEMENTS	  	30
		 	9.01	  	TENANT ALTERATIONS	  	30
		 	9.02	  	LIENS	  	32
		
	ARTICLE TEN - ASSIGNMENT AND SUBLETTING	  	33
		 	10.01	  	ASSIGNMENT AND SUBLETTING	  	33
		 	10.02	  	RECAPTURE	  	35
		 	10.03	  	EXCESS RENT	  	35
		 	10.04	  	TENANT LIABILITY	  	35
		 	10.05	  	ASSUMPTION AND ATTORNMENT	  	36
		
	ARTICLE ELEVEN - DEFAULT AND REMEDIES	  	36
		 	11.01	  	EVENTS OF DEFAULT	  	36
		 	11.02	  	LANDLORD’S REMEDIES	  	37
		 	11.03	  	ATTORNEY’S FEES	  	39
		 	11.04	  	BANKRUPTCY	  	40
		 	11.05	  	LANDLORD’S DEFAULT	  	41
		
	ARTICLE TWELVE - SURRENDER OF PREMISES	  	41
		 	12.01	  	IN GENERAL	  	41
		 	12.02	  	LANDLORDS RIGHTS	  	42
		
	ARTICLE THIRTEEN - HOLDING OVER	  	42
		
	ARTICLE FOURTEEN - DAMAGE BY FIRE OR OTHER CASUALTY	  	42
		 	14.01	  	SUBSTANTIAL UNTENANTABILITY	  	42
		 	14.02	  	INSUBSTANTIAL UNTENANTABILITY	  	43
		 	14.03	  	RENT ABATEMENT	  	44
		 	14.04	  	WAIVER OF STATUTORY REMEDIES	  	44
		
	ARTICLE FIFTEEN - EMINENT DOMAIN	  	44
		 	15.01	  	TAKING OF WHOLE OR SUBSTANTIAL PART	  	44
		 	15.02	  	TAKING OF PART	  	45
		 	15.03	  	COMPENSATION	  	45
		
	ARTICLE SIXTEEN - INSURANCE	  	45
		 	16.01	  	TENANTS INSURANCE	  	45
		 	16.02	  	FORM OF POLICIES	  	46
		 	16.03	  	LANDLORD’S INSURANCE	  	46
		 	16.04	  	WAIVER OF SUBROGATION	  	47
		 	16.05	  	NOTICE OF CASUALTY	  	48
		
	ARTICLE SEVENTEEN - WAIVER OF CLAIMS AND INDEMNITY	  	48
		 	17.01	  	WAIVER OF CLAIMS	  	48

  

 ii 

							
		 	17.02	  	INDEMNITY BY TENANT	  	48
		
	ARTICLE EIGHTEEN - RULES AND REGULATIONS	  	49
		 	18.01	  	RULES	  	49
		 	18.02	  	ENFORCEMENT	  	49
		
	ARTICLE NINETEEN - LANDLORD’S RESERVED RIGHTS	  	50
		
	ARTICLE TWENTY - ESTOPPEL CERTIFICATE	  	50
		 	20.01	  	IN GENERAL	  	50
		 	20.02	  	ENFORCEMENT	  	51
		
	ARTICLE TWENTY-ONE - INTENTIONALLY OMITTED	  	51
		
	ARTICLE TWENTY-TWO - REAL ESTATE BROKERS	  	51
		
	ARTICLE TWENTY-THREE MORTGAGEE PROTECTION	  	51
		 	23.01	  	SUBORDINATION AND ATTORNMENT	  	51
		 	23.02	  	MORTGAGEE PROTECTION	  	52
		
	ARTICLE TWENTY-FOUR - NOTICES	  	53
		
	ARTICLE TWENTY-FIVE - EXERCISE FACILITY	  	53
		
	ARTICLE TWENTY-SIX - MISCELLANEOUS	  	54
		 	26.01	  	LATE CHARGES	  	54
		 	26.02	  	NO JURY TRIAL; VENUE; JURISDICTION	  	54
		 	26.03	  	DEFAULT UNDER OTHER LEASE	  	55
		 	26.04	  	OPTION	  	55
		 	26.05	  	TENANT AUTHORITY	  	55
		 	26.06	  	ENTIRE AGREEMENT	  	55
		 	26.07	  	MODIFICATION OF LEASE FOR BENEFIT OF MORTGAGEE	  	55
		 	26.08	  	EXCULPATION	  	56
		 	26.09	  	ACCORD AND SATISFACTION	  	56
		 	26.10	  	LANDLORD’S OBLIGATIONS ON SALE OF BUILDING	  	56
		 	26.11	  	BINDING EFFECT	  	56
		 	26.12	  	CAPTIONS	  	56
		 	26.13	  	TIME; APPLICABLE LAW; CONSTRUCTION	  	57
		 	26.14	  	ABANDONMENT	  	57
		 	26.15	  	LANDLORD’S RIGHT TO PERFORM TENANTS DUTIES	  	57
		 	26.16	  	SECURITY SYSTEM	  	57
		 	26.17	  	NO LIGHT, AIR OR VIEW EASEMENTS	  	58
		 	26.18	  	RECORDATION	  	58
		 	26.19	  	SURVIVAL	  	58
		 	26.20	  	MAXYGEN TERMINATION	  	58
		 	26.21	  	OPTION TO EXTEND	  	58

  

 iii 

 LEASE 
 ARTICLE ONE 
 BASIC LEASE PROVISIONS 
  

	1.01	BASIC LEASE PROVISIONS 

 In the event of any conflict between these Basic
Lease Provisions and any other Lease provision, such other Lease provision shall control. 
 (1) BUILDINGS AND ADDRESSES: 
 220 Penobscot Drive (17,627 sq. ft.) 
 Redwood
City, California 94063 
 Building Number 4, located in Phase 1 of Seaport Centre 
 and 
 501 Chesapeake Drive (11,158 sq. ft.) 
 Redwood City, California 94063 
 Building
Number 3, located in Phase 1 of Seaport Centre 
 and 
 200 Penobscot Drive (10,597 sq. ft.) 
 Redwood City, California 94063 
 Building Number 4, located in Phase 1 of Seaport Centre 
 (2)
LANDLORD AND ADDRESS: 
 Metropolitan Life Insurance Company, 
 a New York corporation 
 Notices to Landlord shall be addressed: 
 Metropolitan Life Insurance Company 
 c/o
Seaport Centre Manager 
 701 Chesapeake Drive 
 Redwood City, CA 94063 
 with copies to the following: 
  

 1 

 Metropolitan Life Insurance Company 
 400 South El Camino Real, Suite 800 
 San
Mateo, CA 94402 
 Attention: Assistant Vice President 
 (3) TENANT; CURRENT ADDRESS & TAX ID: 
  

	 	(a)	Name: Codex’s, Inc. 

	 	(b)	State of incorporation: Delaware 

	 	(c)	Tax Identification Number:                      

Tenant shall notify Landlord of any change in the foregoing. 
 Notices to Tenant shall be addressed: 
 Codexis, Inc. 
 200 Penobscot Drive 
 Redwood City, California
94063 
 Attention: Tassos Gianakakos 
 (4) DATE
OF LEASE: as of October     , 2003 
 (5) LEASE TERM: seven (7) years 
 (6) COMMENCEMENT DATE: February 1, 2004 
 (7) EXPIRATION DATE:
January 31, 2011 
 (8) MONTHLY BASE RENT (initial monthly installment due upon Tenant’s execution): 
  

						
	 Period from/to
	  	Monthly	  	SF of Rentable Area
	 2/1/04 - 1/31/05
	  	$	50,374	  	28,785
	 2/1/05 - 5/31/05
	  	$	51,813	  	28,785
	 6/1/05 - 1/31/06
	  	$	68,662	  	39,382
	 2/1/06 - 1/31/07
	  	$	70,631	  	39,382
	 2/1/07 - 1/31/08
	  	$	72,600	  	39,382
	 2/1/08 - 1/31/09
	  	$	74,569	  	39,382
	 2/1/09 - 1/31/10
	  	$	76,538	  	39,382
	 2/1/10 - 1/31/11
	  	$	78,507	  	39,382

 (9) RENT ADJUSTMENT DEPOSIT (initial monthly rate, until further notice): $15,083.75 (initial monthly installment
due upon Tenant’s execution) 
 (10) TENANT’S RENTABLE AREA OF THE PREMISES: 28,785 square feet 2/1/04 through 5/31/05 and 39,382 square feet
6/1/05 through 1/31/11 
  

 2 

 (11) TENANTS RENTABLE AREA OF THE BUILDING: 17,627 square feet for Building 4 and 11,158 square feet for Building 3
(2/1/04 through 5/31/05); and 28,224 square feet for Building 4 and 11,158 square feet for Building 3 (6/1/05 through 1/31/11) 
 (12) TOTAL RENTABLE AREA OF
PHASE I: 301,824 square feet 
 (13) TOTAL RENTABLE AREA OF THE PROJECT: 537,444 square feet 
 (14) TOTAL RENTABLE AREA OF BUILDING 3: 37,856 square feet 
 (15) TOTAL RENTABLE AREA OF BUILDING 4: 28,224 square feet

 (16) SECURITY DEPOSIT: four hundred fifty thousand and no/100 dollars ($450,000.00) due upon Tenant’s execution 
 (17) SUITE NUMBER 8/OR ADDRESS OF PREMISES: 220 Penobscot Drive, 501 Chesapeake Drive and 200 Penobscot Drive 
 (18) TENANTS SHARE 
  

					
	Tenant’s Building 3 Share:	  	29.48% 2/1/04 to 1/31/11	  	
	Tenant’s Building 4 Share:	  	62.45% 2/1/04 to 5/31/05	  	
	Tenant’s Building 4 Share:	  	100.00% 6/1/05 to 1/31/11	  	
	Tenant’s Phase 1 Share:	  	9.54% 2/1/04 to 5/31/05	  	
	Tenant’s Phase 1 Share:	  	13.05% 6/1/05 to 1/31/11	  	
	Tenant’s Project Share:	  	5.3%2/1/04 to 5/31/05	  	
	Tenants Project Share:	  	7.33% 6/1/05 to 1/31/11	  	

 (19) TENANT’S USE OF PREMISES: General office use, research and development, chemical and biochemical
laboratory facilities, and warehousing. 
 (20) PARKING SPACES: 95 spaces 2/1/04 to 5/31/05 and 130 spaces 6/1/05 to 1/31/11 
 (21) BROKERS: 
  

					
	Landlord’s Broker:	 	Comish & Carey Commercial	  	
			
	Tenants Broker:	 	CB Richard Ellis CRESA	  	

  

	1.02	ENUMERATION OF EXHIBITS 

 The Exhibits set forth below and attached to this
Lease are incorporated in this Lease by this reference: 
 EXHIBIT A Plan of Premises  
 EXHIBIT B Workletter Agreement (intentionally omitted)  
 EXHIBIT C Site Plan of Project  
 EXHIBIT D Permitted Hazardous Material 
  

 3 

 EXHIBIT E Maxygen Improvements  
 EXHIBIT F Approved Providers  
 EXHIBIT G Tenant’s Improvements  
 EXHIBIT H Form of Landlord’s Consent to Lease of Personal Property

  

	1.03	DEFINITIONS 

 For purposes hereof, the following terms shall have the
following meanings: 
 ADJUSTMENT YEAR: The applicable calendar year or any portion thereof after the Commencement Date of this Lease for which a Rent
Adjustment computation is being made. 
 AFFILIATE: Any Person (as defined below) which is currently owned or controlled by, owns or controls, or is under
common ownership or control with Tenant. For purposes of this definition, the word “control,” as used above means, with respect to a Person that is a corporation, the right to exercise, directly or indirectly, more than sixty percent
(60%) of the voting rights attributable to the shares of the controlled corporation and, with respect to a Person that is not a corporation, the possession, directly or indirectly, of the power at all times to direct or cause the direction of
the management and policies of the controlled Person. The word Person means an individual, partnership, trust, corporation, firm or other entity. 
 BUILDING: Each building in which the Premises is located, as specified in Section 1.01(1). 
 BUILDING OPERATING EXPENSES: Those Operating
Expenses described in Section 4.01. 
 COMMENCEMENT DATE: The date specified in Section 1.01(6) as the Commencement Date, unless changed by
operation of Article Two. 
 COMMON AREAS: All areas of the Project made available by Landlord from time to time for the general common use or benefit of the
tenants of the Building or Project, and their employees and invitees, or the public, as such areas currently exist and as they may be changed from time to time. 
 DECORATION: Tenant Alterations which do not require a building permit and which do not affect the facade or roof of the Building, or involve any of the structural elements of the Building, or involve any of the Building’s systems,
including its electrical, mechanical, plumbing, security, heating, ventilating, air- conditioning, communication, and fire and life safety systems. 
 DEFAULT RATE: Two (2) percentage points above the rate then most recently announced by Bank of America N.T.& SA. at its San Francisco main office as its corporate base lending rate, from time to time announced, but in no event
higher than the maximum rate permitted by Law. 
 DELIVERY DATE: The date for Landlord’s delivery to Tenant of possession of the Premises, if different
from the Commencement Date. 
  

 4 

 ENVIRONMENTAL LAWS: All Laws governing the use, storage, disposal or generation of any Hazardous Material or pertaining
to environmental conditions on, under or about the Premises or any part of the Project, including the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended (42 U.S.C. Section 9601 et sm.), and the Resource
Conservation and Recovery Act of 1976, as amended (42 U.S.C. Section 6901 et ). 
 EXPIRATION DATE: The date specified in Section 1.01(7) unless
changed by operation of Article Two. 
 FORCE MAJEURE: Any accident, casualty, act of God, war or civil commotion, strike or labor troubles, or any cause
whatsoever beyond the reasonable control of Landlord, including water shortages, energy shortages or governmental preemption in connection with an act of God, a national emergency, or by reason of Law, or by reason of the conditions of supply and
demand which have been or are affected by act of God, war or other emergency. 
 HAZARDOUS MATERIAL: Such substances, material and wastes which are or become
regulated under any Environmental Law; or which are classified as hazardous or toxic or medical waste or biohazardous waste under any Environmental Law, and explosives, firearms and ammunition, flammable material, radioactive material, asbestos,
polychlorinated biphenyls and petroleum and its byproducts. 
 INDEMNITEES: Collectively, Landlord, any Mortgagee or ground lessor of the Property, the
property manager and the leasing manager for the Property and their respective directors, officers, agents and employees. 
 LAND: The parcel(s) of real
estate on which the Building and Project are located. LANDLORD WORK: (intentionally omitted) 
 LAWS OR LAW: All laws, ordinances, rules, regulations, other
requirements, orders, rulings or decisions adopted or made by any governmental body, agency, department or judicial authority having jurisdiction over the Property, the Premises or Tenant’s activities at the Premises and any covenants,
conditions or restrictions of record which affect the Property. 
 LEASE: This instrument and all exhibits attached hereto, as may be amended from time to
time. 
 LEASE YEAR: The twelve month period beginning on the first day of the first month following the Commencement Date (unless the Commencement Date is
the first day of a calendar month in which case beginning on the Commencement Date), and each subsequent twelve month, or shorter, period until the Expiration Date. 
 MONTHLY BASE RENT: The monthly rent specified in Section 1.01(8). 
 MORTGAGEE: Any holder of a mortgage, deed of trust
or other security instrument encumbering the Property. 
 NATIONAL HOLIDAYS: New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day
and Christmas Day and other holidays recognized by the Landlord and the janitorial and other unions servicing the Building in accordance with their contracts. 
  

 5 

 OPERATING EXPENSES: All Taxes, costs, expenses and disbursements of every kind and nature which Landlord shall pay or
become obligated to pay in connection with the ownership, management, operation, maintenance, replacement and repair of the Property (including the amortized portion of any capital expenditure or improvement, together with interest thereon, expenses
of changing utility service providers, and any dues, assessments and other expenses pursuant to any covenants, conditions and restrictions, or any reciprocal easements, or any owner’s association now or hereafter affecting the Project).
Operating Expenses shall be allocated among the categories of Project Operating Expenses, Building Operating Expenses or Phase Operating Expenses as provided in Article Four. If any Operating Expense, though paid in one year, relates to more than
one calendar year, at the option of Landlord such expense may be proportionately allocated among such related calendar years (it being understood that those specific items of repairs and replacements, which under Generally Accepted Accounting
Principles should be classified as capital expenditures, except that if such repair or replacement is of such a nature that it should be considered under Generally Accepted Accounting Principles a deferred expense and spread over a period of not
more than ten (10) years, Operating Expenses for a year shall include the proportionate share of such deferred expense appropriately allocated to such year). Operating Expenses shall include the following, by way of illustration only and not
limitation: (1) all Taxes; (2) all insurance premiums and other costs (including deductibles), including the cost of rental insurance; (3) all license, permit and inspection fees; (4) all costs of utilities, fuels and related
services, including water, sewer, light, telephone, power and steam connection, service and related charges; (5) all costs to repair, maintain and operate heating, ventilating and air conditioning systems, including preventive maintenance;
(6) all janitorial, landscaping and security services; (7) all wages, salaries, payroll taxes, fringe benefits and other labor costs of employees who devote substantially all of his or her time to the Building or Project, including the
cost of workers’ compensation and disability insurance; (8) all costs of operation, maintenance and repair of all parking facilities and other common areas; (9) all supplies, materials, equipment and tools; (10) dues, assessments
and other expenses pursuant to any covenants, conditions and restrictions, or any reciprocal easements, or any owner’s association now or hereafter affecting the Project (11) modifications to the Building or the Project occasioned by Laws
now or hereafter in effect (12) the total charges of any independent contractors employed in the care, operation, maintenance, repair, leasing and cleaning of the Project, including landscaping, roof maintenance, and repair, maintenance and
monitoring of life-safety systems, plumbing systems, electrical wiring and Project signage; (13) the cost of accounting services necessary to compute the rents and charges payable by tenants at the Project (14) exterior window and exterior
wall cleaning and painting; (15) managerial and administrative expenses; (16) all costs in connection with the exercise facility at the Project (17) all costs and expenses related to Landlord’s retention of consultants in
connection with the routine review, inspection, testing, monitoring, analysis and control of Hazardous Material, and retention of consultants in connection with the clean-up of Hazardous Material (to the extent not recoverable from a particular
tenant of the Project), and all costs and expenses related to the implementation of recommendations made by such consultants concerning the use, generation, storage, manufacture, production, storage, release, discharge, disposal or clean-up of
Hazardous Material on, under or about the Premises or the Project (to the extent not recoverable from a particular tenant of the Project), but only to the extent applicable to Tenant and its use of the Premises; (18) all capital improvements
made for the purpose of reducing or controlling other Operating Expenses, and all other capital expenditures, but only as amortized over such reasonable period 

  

 6 

 
as Landlord shall determine, together with interest thereon; (19) all property management costs and fees, including all costs in connection with the
Project property management office; and (20) all fees or other charges incurred in conjunction with voluntary or involuntary membership in any energy conservation, air quality, environmental, traffic management or similar organizations.
Notwithstanding the foregoing, Operating Expenses shall not include: (a) costs of alterations of space to be occupied by new or existing tenants of the Project; (b) depreciation charges; (c) interest and principal payments on loans
(except for loans for capital expenditures or improvements which Landlord is allowed to include in Operating Expenses as provided above); (d) ground rental payments; (e) real estate brokerage and leasing commissions; (f) advertising
and marketing expenses; (g) costs of Landlord reimbursed by insurance proceeds; (h) expenses incurred in negotiating leases of other tenants in the Project or enforcing lease obligations of other tenants in the Project;
(i) Landlord’s or Landlord’s property manager’s corporate general overhead or corporate general administrative expenses; (j) costs of correcting defects in or inadequacy of the initial design or construction of the Building
or Property; (k) costs of a capital nature, including, without limitation, capital improvements, capital repairs, capital equipment and capital tools, all as determined in accordance with generally acceptable accounting principles; (I) any
late fees, fines, penalties and interest on past due amounts incurred by Landlord; (m) expenses directly resulting from the gross negligence or willful misconduct of Landlord, its agents or employees; and (n) any cost (such as repairs,
improvements, electricity, special cleaning or overtime services) to the extent such costs are expressly reimbursed to Landlord by tenants (as opposed to partial reimbursement in the nature of rent escalation provisions) or are separately charged to
and payable by tenants. 
 “Operating Expenses” shall be reduced by all cash discounts, trade discounts or quantity discounts received by Landlord
or Landlord’s managing agent in the purchase of any goods, utilities or services in connection with the operation of the Property. 
 PHASE: Phase means
any individual Phase of the Project, as more particularly described in the definition of Project. 
 PHASE OPERATING EXPENSES: Those Operating Expenses
described in Section 4.01. 
 PREMISES: The space located in the Buildings at the Suite Numbers listed in Section 1.01(15) and depicted on
Exhibit A attached hereto. The Premises shall consist of 501 Chesapeake Drive (“Space A”), 220 Penobscot Drive (“Space B”) and 200 Penobscot Drive (“Space C”). 
 PROJECT or PROPERTY: As of the date hereof, the Project is known as Seaport Centre and consists of those buildings (including the Building) whose general location is
shown on the Site Plan of the Project attached as Exhibit C located in Redwood City, California, associated vehicular and parking areas, landscaping and improvements, together with the Land, any associated interests in real property, and the
personal property, fixtures, machinery, equipment, systems and apparatus located in or used in conjunction with any of the foregoing. The Project may also be referred to as the Property. As of the date hereof, the Project is divided into Phase I and
Phase II, which are generally designated on Exhibit C each of which may individually be referred to as a Phase. Landlord reserves the right from time to time to add or remove buildings, areas and improvements to or from a Phase or the
Project, or to add or remove a Phase to or from the Project. In the event of any such addition or removal which affects the Total Rentable Area of the Project or a Phase, Landlord shall make a corresponding recalculation and adjustment of any
affected Tenant’s Rentable Area and Tenant’s Share. 
  

 7 

 PROJECT OPERATING EXPENSES: Those Operating Expenses described in Section 4.01. 
 REAL PROPERTY: The Property excluding any personal property. 
 RENT:
Collectively, Monthly Base Rent, Rent Adjustments and Rent Adjustment Deposits, and all other charges, payments, late fees or other amounts required to be paid by Tenant under this Lease. 
 RENT ADJUSTMENT: Any amounts owed by Tenant for payment of Operating Expenses. The Rent Adjustments shall be determined and paid as provided in Article Four. 

RENT ADJUSTMENT DEPOSIT: An amount equal to Landlord’s estimate of the Rent Adjustment attributable to each month of the applicable Adjustment Year. On or before
the Commencement Date and the beginning of each subsequent Adjustment Year or with Landlord’s Statement (defined in Article Four), Landlord may estimate and notify Tenant in writing of its estimate of Operating Expenses, including Project
Operating Expenses, Building Operating Expenses and Phase Operating Expenses, and Tenant’s Share of each, for the applicable Adjustment Year. The Rent Adjustment Deposit applicable for the calendar year in which the Commencement Date occurs
shall be the amount, if any, specified in Section 1.01(9). Nothing contained herein shall be construed to limit the right of Landlord from time to time during any calendar year to revise its estimates of Operating Expenses and to notify Tenant
in writing thereof and of revision by prospective adjustments in Tenant’s Rent Adjustment Deposit payable over the remainder of such year. The last estimate by Landlord shall remain in effect as the applicable Rent Adjustment Deposit unless and
until Landlord notifies Tenant in writing of a change. 
 SECURITY DEPOSIT: The funds specified in Section 1.01(16), if any, deposited by Tenant with
Landlord as security for Tenant’s performance of its obligations under this Lease. 
 TAXES: All federal, state and local governmental taxes,
assessments (including assessment bonds) and charges of every kind or nature, whether general, special, ordinary or extraordinary, which Landlord shall pay or become obligated to pay because of or in connection with the ownership, leasing,
management, control or operation of the Property or any of its components (including any personal property used in connection therewith), which may also include any rental or similar taxes levied in lieu of or in addition to general real and/or
personal property taxes. For purposes hereof, Taxes for any year shall be Taxes which are assessed for any period of such year, whether or not such Taxes are billed and payable in a subsequent calendar year. There shall be included in Taxes for any
year the amount of all fees, costs and expenses (including reasonable attorneys fees) paid by Landlord during such year in seeking or obtaining any refund or reduction of Taxes, but not to exceed any tax savings resulting from such contest. Taxes
for any year shall be reduced by the net amount of any tax refund received by Landlord attributable to such year. If a special assessment payable in installments is levied against any part of the Property, Taxes for any year shall include only the
installment of such assessment and any interest payable or paid during such year. Taxes shall not include any federal or state inheritance, 

  

 8 

 
general income, franchise, gift or estate taxes, except that if a change occurs in the method of taxation resulting in whole or in part in the substitution
of any such taxes, or any other assessment, for any Taxes as above defined, such substituted taxes or assessments shall be included in the Taxes. In addition, Landlord shall be solely responsible for penalties or other charges for late payment of
taxes. 
 TENANT ADDITIONS: Collectively, Tenant Work and Tenant Alterations, but not including Tenant’s Personal Property. 
 TENANT ALTERATIONS: Any alterations, improvements, additions, installations or construction in or to the Premises or any Real Property systems serving the Premises done
or caused to be done by Tenant after the date hereof, whether prior to or after the Commencement Date. 
 TENANT DELAY: (intentionally omitted) 

TENANT WORK: All work installed or furnished to the Premises by Tenant in connection with Tenant’s initial occupancy. 
 TENANTS BUILDING SHARE: The share as specified in Section 1.01(18) and Section 4.01. 
 TENANTS PERSONAL PROPERTY: All movable personal property of Tenant and Tenants trade fixtures (including without limitation, any autoclaves, hoods, animal facility, fermentors, casework, cold rooms, generators,
equipment furniture, furnishings, telephone equipment and cabling for any of the foregoing), the costs of which were not paid for by any portion of Landlord’s Contribution. 
 TENANTS PHASE: Phase I. 
 TENANTS PHASE SHARE: The share as specified in Section 1.01(18) and Section 4.01.

 TENANTS PROJECT SHARE: The share as specified in Section 1.01(18) and Section 4.01. 
 TENANTS RENTABLE AREA OF THE BUILDING: The amount of square footage set forth in Section 1.01(11). 
 TENANT’S RENTABLE AREA OF THE PREMISES: The amount of square footage set forth in Section 1.01(10). 
 TENANT’S SHARE: Shall mean collectively, Tenant’s respective shares of the respective categories of Operating Expenses, as provided in Section 1.01(18) and Section 4.01. 
 TERM: The term of this Lease commencing on the Commencement Date and expiring on the Expiration Date. 
 TERMINATION DATE: The Expiration Date or such earlier date as this Lease terminates or Tenant’s right to possession of the Premises terminates. 
  

 9 

 TOTAL RENTABLE AREA OF BUILDING 3: The amount of square footage set forth in Section 1.01(14). 
 TOTAL RENTABLE AREA OF BUILDING 4: The amount of square footage set forth in Section 1.01(15). 
 TOTAL RENTABLE AREA OF PHASE I: The amount of square footage set forth in Section 1.01(12) 
 TOTAL RENTABLE AREA OF THE
PROJECT: The amount of square footage set forth in Section 1.01(13), which represents the sum of the rentable area of all space intended for occupancy In the Project. 
 WORKLETTER: (intentionally omitted) 
 ARTICLE TWO 
 PREMISES, TERM, FAILURE TO GIVE POSSESSION, COMMON AREAS AND PARKING 
  

	2.01	LEASE OF PREMISES 

 Landlord hereby leases to Tenant and Tenant hereby
leases from Landlord the Premises for the Term and upon the terms, covenants and conditions provided in this Lease. 
  

	2.02	TERM 

 The Commencement Date shall be February 1, 2004 and Landlord
shall deliver possession of (a) Space A on December 10, 2003 (the “First Delivery Date”); (b) Space B on February 1, 2004 (the “Second Delivery Date”); and (c) Space C on February 25, 2005 (the
“Third Delivery Date”) for the purposes of performing the Tenant Work. 
  

	2.03	FAILURE TO GIVE POSSESSION 

 Tenant acknowledges that it currently has
possession of Space A pursuant to its affiliation with the current subtenant of said Space A, however, Tenant’s right to do any Tenant Work (as hereinafter defined) in Space A prior to the First Delivery Date is contingent upon Landlord
obtaining the prior written consent of Cygnus, Inc., the current tenant of Space A. If the Landlord shall be unable to give direct possession of Space A on the First Delivery Date or Space B on the Second Delivery Date by reason of the following:
(i) the holding over or retention of possession of any tenant, tenants or occupants, or (ii) for any other reason, then Landlord shall not be subject to any liability for the failure to give possession on said date. Under such
circumstances the Commencement Date shall be delayed by a number of days equal to the days of delay in Landlord’s delivery of possession to Tenant. No such failure to give possession on the First Delivery Date or the Second Delivery Date shall
affect the validity of this Lease or the obligations of the Tenant hereunder. 
 If the Landlord shall be unable to give possession of Space C on the Third
Delivery Date by reason of the following: (i) the holding over or retention of possession of any tenant, tenants or occupants, or (ii) for any other reason, then Landlord shall not be subject to any liability for the 

  

 10 

 
failure to give possession on said date. Under such circumstances the increase in Monthly Base Rent scheduled for June 1, 2005 pursuant to the
provisions of Section 1.01(8) of this Lease with respect only to the increased square footage (and not the rate for the then current square footage) shall be delayed by a number of days equal to the days of delay in Landlord’s delivery of
possession to Tenant. No such failure to give possession on the Third Delivery Date shall affect the validity of this Lease or the obligations of the Tenant hereunder. 
  

	2.04	AREA OF PREMISES 

 Landlord and Tenant agree that for all purposes of this
Lease Tenant’s Rentable Area of the Premises, Tenant’s Rentable Area of the Building, the Total Rentable Area of Phase I, the Total Rentable Area of the Project, the Total Rentable Area of Building 3 and the Total Rentable Area of Building
4 as set forth in Article One are controlling, and are not subject to revision after the date of this Lease. 
  

	2.05	CONDITION OF PREMISES 

  

	 	(a)	Tenant acknowledges and agrees that (i) Tenant has been afforded ample opportunity to inspect the Premises, the Building and the Project, and has investigated their condition
to the extent Tenant desires to do so; (ii) Tenant hereby agrees that this Lease is of the Premises in its “AS IS” condition; (iii) no representation regarding the condition of the Premises or the Building or the Project has been
made by or on behalf of Landlord; (iv) Landlord has no obligation to remodel or to make any repairs, alterations or improvements to the Premises, Building or the Project in connection with Tenant’s initial occupancy or provide Tenant any
allowance for any work by Tenant, except for the Landlord’s Contribution as provided below-, (v) the Premises shall be delivered in an AS IS condition, including the improvements in place as of the Maxygen Termination Date (as hereinafter
defined), a list of such improvements is attached hereto as Exhibit E and the property of Landlord; and (vi) there is no Workletter for this Lease. 

  

	 	(b)	Landlord’s Contribution means 

  

	 	(i)	an amount up to a maximum of Four Hundred Thousand and No/100 Dollars ($400,000.00) (the “First Contribution”) to reimburse Tenant for the actual costs of design, plan
review, obtaining at approvals and permits, and construction of Tenant Work in Space A and Space B in order to refurbish Space A and Space B so that (x) approximately 60’)/0 of the space is laboratory space, (y) 40% of the space feet
is office space and (z) demising walls acceptable to Landlord (in its sole discretion) are constructed between Space B and Space C in the event that a third party, unrelated to Tenant leases or subleases Space C prior to the Third Delivery
Date, and shall be payable as provided below. Tenant shall use a portion of the Contribution (no less than One Hundred Thousand and No/100 Dollars ($100,000.00)] for Work done in Space A and portion of the Contribution (no less than One Hundred
Thousand and No/100 Dollars ($100,000.00)3 for Work done in Space B; and 

  

 11 

	 	(ii)	an amount up to a maximum of Eighty Thousand and No/100 Dollars ($80,000.00) (the “Second Contribution”) to reimburse Tenant for the actual costs of design, plan review,
obtaining all approvals and permits, and construction of Tenant Work in Space C as is necessary to refurbish Space C. 

 In no
event shall Landlord’s Contribution be used to reimburse any costs of designing, procuring or installing in the Premises Tenant’s Personal Property, and the cost of such Tenant’s Personal Property shall be paid by Tenant.
Landlord’s Contribution shall be payable by Landlord to Tenant no more often than monthly for costs based upon the percentage of work completed prior to the date of the request for payment and any balance so payable shall be paid within 30 days
after Landlord’s receipt of Tenant’s request for payment In each such request, Tenant shall submit to Landlord copies of all invoices and Tenant shall certify that it has paid such invoices, that such request represents costs reimbursable
to Tenant for work performed prior to the date of the request, that there are no known mechanic’s or materialmen’s liens outstanding at the date of a request, that there is no known basis for the filing of any mechanic’s or
materialmen’s liens relating to the work, and that waivers from all subcontractors, mechanics and materialmen have been obtained in such form as to constitute an effective waiver of lien under the laws of the State of California. Tenant shall
provide Landlord copies of such waivers. Notwithstanding the foregoing, Tenant shall not request an advance of a portion of Landlord’s Contribution in an amount which is less than $50,000 unless such advance is the final advance to be made
hereunder, or Tenant has not requested an advance in the past 60 days. Tenant shall keep full and correct accounts and shall exercise such control as may be necessary or appropriate for the proper financial management of the construction of Tenant
Work separately identified as to each of Space A, Space B and Space C or, if the work is done under separate contracts or in smaller separate identifiable segments or phases, then upon completion of and with respect to each separate contract or
phase). The final payment of Landlord’s Contribution shall be paid to Tenant within 30 days after the later of final completion of the Tenant Work and Landlord’s receipt of (i) a certificate of occupancy (if applicable),
(ii) final as-built plans and specifications, (iii) full, final, unconditional lien releases, and (iv) reasonable substantiation of costs incurred by Tenant with respect to the Tenant Work. Tenant must prior to expiration of nine
months after the Commencement Date submit written request with the items required above for disbursement or reimbursement for any reimbursable costs out of the Landlord’s Contribution, and to the extent of any funds for which request has not
been made prior to that date or if and to the extent that the reimbursable costs of the Tenant Work are less than the amount of Landlord’s Contribution, then Landlord shall retain the unapplied or unused balance of the Landlord’s
Contribution and shall have no obligation or liability to Tenant with respect to such excess. If the costs of completing the Tenant Work exceeds the First Contribution or the Second Contribution, Tenant shall pay all such costs. After completion of
Tenant Work, Tenant shall provide Landlord with a reasonably detailed breakdown of the allocation of the Landlord’s Contribution. Until the expiration of eighteen (18) months after Tenant delivers to Landlord the final request for payment
of Landlord’s Contribution, Landlord, through its Building manager, employees and/or independent accounting firm, shall be afforded reasonable access at the Premises from time to time during normal business hours after reasonable advance
written or oral notice, to Tenant’s records, 

  

 12 

 
books, correspondence, instructions, drawings, receipts, invoices, purchase orders, agreements (including with contractors, subcontractors and suppliers),
vouchers and other information relating to Tenant Work and the use of Landlord’s Contribution for the purpose of reviewing, auditing and/or copying such material. Such copying and inspection shall be at Landlord’s sole cost. 
 (a) Tenants cost of the Tenant Work shall include a fee of two percent (2%) of Landlord’s Contribution which shall be retained by Landlord as
compensation for supervising the Tenant Work (“Landlord’s Construction Management Fee”). 
 (b) Tenant shall be responsible
for the suitability for the Tenants needs and business of the design and function of all Tenant Work and for its construction in compliance with all Law as applicable and as interpreted at the time of construction of the Tenant Work, including all
building codes and the ADA (as defined in the Lease). Tenant, through its architects and/or space planners (-Tenants Architect”), shall prepare all architectural plans and specifications, and engineering plans and specifications, for the real
property improvements to be constructed by Tenant in the Premises in sufficient detail to be submitted for approval by Landlord to the extent required pursuant to Article Nine of the Lease and to be submitted by Tenant for governmental approvals and
building pen-nits and to serve as the detailed construction drawings and specifications for the contractor, and shall include, among other things, all partitions, doors, heating, ventilating and air conditioning installation and distribution,
ceiling systems, light fixtures, plumbing installations, electrical installations and outlets, telephone installations and outlets, any other installations required by Tenant, fire and life-safety systems, wall finishes and floor coverings, whether
to be newly installed or requiring changes from the as-is condition of the Premises as of the date of execution of the Lease. Tenant shall be responsible for the oversight, supervision and construction of all Tenant Work in compliance with this
Lease, including compliance with all Law as applicable and as interpreted at the time of construction, including all building codes and the ADA. 
 (c) Tenant hereby acknowledges that all improvements installed in the Premises by Tenant under this Section 2.05 shall, without compensation or credit to Tenant, become part of the Premises and the property of Landlord at the time of
their installation and shall remain in the Premises, unless pursuant to an agreement between the parties hereto, Tenant may remove them or is required to remove them at Landlord’s request 
  

	2.06	COMMON AREAS & PARKING 

 (a) Right to Use
Common Areas. Tenant shall have the non-exclusive right, in common with others, to the use of any common entrances, ramps, drives and similar access and service ways and other Common Areas in the Project. The rights of Tenant hereunder in and to
the Common Areas shall at all times be subject to the rights of Landlord and other tenants and owners in the Project who use the same in common with Tenant, and it shall be the duty of Tenant to keep all the Common Areas free and clear of any
obstructions created or permitted by Tenant or resulting from Tenant’s operations. Tenant shall not use the Common Areas or common facilities of the Building or the Project, including the Building’s electrical room, parking lot or trash
enclosures, for storage purposes. Nothing herein shall affect the right of Landlord at any time to remove any persons not authorized to use the Common Areas or common facilities from such areas or facilities or to prevent their use by unauthorized
persons. 
  

 13 

 Tenant shall in addition have the nonexclusive right, in common with Landlord and any tenant or other
user of all or any portion of the remainder of Building 3 (the “Adjacent Space”) to use the area designated on Exhibit A-1 as the common areas (Building Common Areas”). In addition to Tenant’s obligations as set forth in this
Lease, Tenant shall repair and maintain the Building Common Areas and keep the Building Common Areas clean at all times, the cost thereof to be shared between Tenant and any other tenant in Building 3 (“Adjacent Tenant”), based on relative
square footage leased from Landlord under the applicable leases. Landlord agrees to provide in any lease with an Adjacent Tenant, that such Adjacent Tenant shall reimburse Tenant for the Adjacent Tenants share of such repair, maintenance and
cleaning costs incurred by Tenant for the Building Common Areas pursuant to this paragraph. Tenant shall be solely responsible for collecting any amounts owed for such costs directly from the Adjacent Tenants. 
 (b) Changes in Common Areas. Landlord reserves the right, at any time and from time to time to (i) make alterations in or additions to the
Common Areas or common facilities of the Project, including constructing new buildings or changing the location, size, shape or number of the driveways, entrances, parking spaces, parking areas, loading and unloading areas, landscape areas and
walkways, (ii) designate property to be included in or eliminate property from the Common Areas or common facilities of the Project, (iii) close temporarily any of the Common Areas or common facilities of the Project for maintenance
purposes, and (4) use the Common Areas and common facilities of the Project while engaged in making alterations in or additions and repairs to the Project provided, however, that reasonable access to the Premises and parking at or near the
Project remains available and that any closure of Common Areas shall be for the minimum amount of time necessary. 
 (c) Parking.
During the Term, Tenant shall have the right to use the number of Parking Spaces specified in Section 1.01(18) for parking on an unassigned basis on that portion of the Project designated by Landlord from time to time for parking. Tenant
acknowledges and agrees that the parking spaces in the Project’s parking facility may include a mixture of spaces for compact vehicles as well as full-size passenger automobiles, and that Tenant shall not use parking spaces for vehicles larger
than the striped size of the parking spaces. Tenant shall not park any vehicles at the Project overnight. Tenant shall comply with any and all parking rules and regulations if and as from time to time established by Landlord and delivered to Tenant.
Tenant shall not allow any vehicles using Tenants parking privileges to be parked, loaded or unloaded except in accordance with this Section, including in the areas and in the manner designated by Landlord for such activities. If any vehicle is
using the parking or loading areas contrary to any provision of this Section, Landlord shall have the right, in addition to all other rights and remedies of Landlord under this Lease, to remove or tow away the vehicle without prior notice to Tenant,
and the cost thereof shall be paid to Landlord within ten (10) days after notice from Landlord to Tenant. 
  

 14 

 ARTICLE THREE 
 RENT 
 Tenant agrees to pay to Landlord at the first office specified in Section 1.01(2), or to such other persons, or
at such other places designated by Landlord, without any prior demand therefor in immediately available funds and without any deduction or offset whatsoever, Rent, including Monthly Base Rent and Rent Adjustments in accordance with Article Four,
during the Term. Monthly Base Rent shall be paid monthly in advance on the first day of each month of the Term, except that the first installment of Monthly Base Rent shall be paid by Tenant to Landlord concurrently with execution of this Lease.
Monthly Base Rent shall be prorated for partial months within the Term. Unpaid Rent shall bear interest at the Default Rate from the date due until paid. Tenant’s covenant to pay Rent shall be independent of every other covenant in this Lease.

 ARTICLE FOUR 
 OPERATING
EXPENSES, RENT ADJUSTMENTS AND PAYMENTS 
  

	4.01	TENANTS SHARE OF OPERATING EXPENSES 

 Tenant shall pay Tenant’s Share
of Operating Expenses in the respective shares of the respective categories of Operating Expenses as set forth below. 
 (a) Tenant’s
Project Share of Project Operating Expenses, which is the percentage obtained by dividing the rentable square footage of the Premises for the building(s) in which the Premises is located by the rentable square footage of the Project and as of the
date hereof equals the percentage set forth in Section 1.01(16); 
 (b) Tenant’s Building Share of Building Operating Expenses,
which is the percentage obtained by dividing the rentable square footage of the Premises respectively for each building in which the Premises is located by the total rentable square footage of such building and as of the date hereof equals the
percentage set forth in Section 1.01(16); 
 (c) Tenant’s Phase Share of Phase Operating Expenses, which is the percentage obtained
by dividing the aggregate rentable square footage of the Premises located in Tenant’s Phase by the total rentable square footage of Tenant’s Phase and as of the date hereof equals the percentage set forth in Section 1.01(16);

 (d) Project Operating Expenses shall mean all Operating Expenses that are not included as Phase Operating Expenses (defined below) and
that are not either Building Operating Expenses or operating expenses directly and separately identifiable to the operation, maintenance or repair of any other building located in the Project, but Project Operating Expenses includes operating
expenses allocable to any areas of the Building or any other building during such time as such areas are made available by Landlord for the general common use or benefit of all tenants of the Project, and their employees and invitees, or the public,
as such areas currently exist and as they may be changed from time to time; 
  

 15 

 (e) Building Operating Expenses shall mean Operating Expenses that are directly and separately
identifiable to each building in which the Premises or part thereof is located; 
 (f) Phase Operating Expenses shall mean Operating Expenses
that Landlord may allocate to a Phase as directly and separately identifiable to all buildings located in the Phase (including but not limited to the Building) and may include Project Operating Expenses that are separately identifiable to a Phase;

 (g) Landlord shall have the right to reasonably allocate a particular item or portion of Operating Expenses as any one of Project
Operating Expenses, Building Operating Expenses or Phase Operating Expenses; however, in no event shall any portion of Building Operating Expenses, Project Operating Expenses or Phase Operating Expenses be assessed or counted against Tenant more
than once; and 
 (h) Notwithstanding anything to the contrary contained in this Section 4.01, as to each specific category of Operating
Expense which one or more tenants of the Building either pays directly to third parties or specifically reimburses to Landlord (for example, separately contracted janitorial services or property taxes directly reimbursed to Landlord), then, on a
category by category basis, the amount of Operating Expenses for the affected period shall be adjusted as follows: (1) all such tenant payments with respect to such category of expense and all of Landlord’s costs reimbursed thereby shall
be excluded from Operating Expenses and Tenant’s Building Share, Tenant’s Phase Share or Tenant’s Project Share, as the case may be, for such category of Operating Expense shall be adjusted by excluding the square footage of all such
tenants, and (2) if Tenant pays or directly reimburses Landlord for such category of Operating Expense, such category of Operating Expense shall be excluded from the determination of Operating Expenses for the purposes of this Lease.

  

	4.02	RENT ADJUSTMENTS 

 Tenant shall pay to Landlord Rent Adjustments with
respect to each Adjustment Year as follows: 
 (a) The Rent Adjustment Deposit representing Tenant’s Share of Landlord’s estimate of
Operating Expenses, as described in Section 4.01, for the applicable Adjustment Year (or portion thereof) monthly during the Term with the payment of Monthly Base Rent, except the first installment which shall be paid by Tenant to Landlord
concurrently with execution of this Lease; and 
 (b) Any Rent Adjustments due in excess of the Rent Adjustment Deposits in accordance with
Section 4.02. 
  

	4.03	STATEMENT OF LANDLORD 

 Within one hundred twenty (120) days after the
end of each calendar year or as soon thereafter as reasonably possible, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: • 
  

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 (a) Operating Expenses for the last Adjustment Year showing in reasonable detail the actual Operating
Expenses categorized among Project Operating Expenses, Building Operating Expenses and Phase Operating Expenses for such period and Tenant’s Share of each as described in Section 4.01. above; 
 (b) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and 
 (c) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Year, including the amount or revised amount due for months preceding
any such change pursuant to Landlord’s Statement 
 Tenant shall pay to Landlord within ten (10) days after receipt of such
statement any amounts for Rent Adjustments then due in accordance with Landlord’s Statement. Any amounts due from Landlord to Tenant pursuant to this Section shall be credited to the Rent Adjustment Deposit next coming due, or refunded to
Tenant if the Term has already expired provided Tenant is not in default hereunder. No interest or penalties shall accrue on any amounts which Landlord is obligated to credit or refund to Tenant by reason of this Section 4.02. Landlord’s
failure to deliver Landlord’s Statement or to compute the amount of the Rent Adjustments shall not constitute a waiver by Landlord of its right to deliver such items nor constitute a waiver or release of Tenant’s obligations to pay such
amounts. The Rent Adjustment Deposit shall be credited against Rent Adjustments due for the applicable Adjustment Year. During the last complete calendar year or during any partial calendar year in which the Lease terminates, Landlord may include in
the Rent Adjustment Deposit its estimate of Rent Adjustments which may not be finally determined until after the termination of this Lease. Tenant’s obligation to pay Rent Adjustments survives the expiration or termination of the Lease.
Notwithstanding the foregoing, in no event shall the sum of Monthly Base Rent and the Rent Adjustments be less than the Monthly Base Rent payable. 
  

	4.04	BOOKS AND RECORDS 

 Landlord shall maintain books and records showing
Operating Expenses and Taxes in accordance with sound accounting and management practices, consistently applied. The Tenant or its representative (which representative shall be a certified public accountant licensed to do business in the state in
which the Property is located and whose primary business is certified public accounting) shall have the right, for a period of thirty (30) days following the date upon which Landlord’s Statement is delivered to Tenant, to examine the
Landlord’s books and records with respect to the items in the foregoing statement of Operating Expenses and Taxes during normal business hours, upon written notice, delivered at least three (3) business days in advance. If Tenant does not
object in writing to Landlord’s Statement within sixty (60) days of Tenants receipt thereof, specifying the nature of the item in dispute and the reasons therefor, then Landlord’s Statement shall be considered final and accepted by
Tenant. Any amount due to the Landlord as shown on Landlord’s Statement, whether or not disputed by Tenant as provided herein shall be paid by Tenant when due as provided above, without prejudice to any such written exception. 
  

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 In the event such audit discloses (i) errors made during the prior calendar year which, when totaled, established
that the sum overcharged to and paid by Tenant exceeds five percent (5%) of the actual (as distinguished from estimated) amount of Tenant’s Share of Operating Expenses and Taxes, Tenant’s costs of the audit shall be paid by Landlord,
or (ii) no errors or an error which equals or is less than five percent (5%), Tenant’s costs of the audit shall be paid by Tenant. If the audit determines that any sums are due and owing Tenant, such sums shall be credited to the next
payment of Rent unless the Lease has been terminated, in such event Landlord shall promptly pay Tenant such amount. 
 Tenant acknowledges and agrees that it
is a condition of Tenant’s right to conduct an audit pursuant to the foregoing, that Tenant and/or its representative, prior to commencement of such audit, execute a confidentiality agreement whereby Tenant and/or its representative agree to
keep confidential and not disclose to any other party ( other than Tenant’s employees involved in such audit, and other professionals directly involved in the audit or results thereof) the results of any such audit or any action taken by
Landlord in response thereto, except if required to disclose such information as required by applicable law or court order. 
  

	4.05	TENANT OR LEASE SPECIFIC TAXES 

 In addition to Monthly Base Rent, Rent
Adjustments, Rent Adjustment Deposits and other charges to be paid by Tenant, Tenant shall pay to Landlord, upon demand, any and all taxes payable by Landlord (other than federal or state inheritance, general income, gift or estate taxes) whether or
not now customary or within the contemplation of the parties hereto; (a) upon, allocable to, or measured by the Rent payable hereunder, including any gross receipts tax or excise tax levied by any governmental or taxing body with respect to the
receipt of such rent or (b) upon or with respect to the possession, leasing, operation, management, maintenance, alteration, repair, use or occupancy by Tenant of the Premises or any portion thereof; or (c) upon the measured value of
Tenants personal property or trade fixtures located in the Premises or in any storeroom or any other place in the Premises or the Property, or the areas used in connection with the operation of the Property, it being the intention of Landlord and
Tenant that, to the extent possible, Tenant shall cause such taxes on personal property or trade fixtures to be billed to and paid directly by Tenant; (d) resulting from Tenant Work or Tenant Alterations to the Premises, whether title thereto
is in Landlord or Tenant; or (e) upon this transaction. Taxes paid by Tenant pursuant to this Section 4.05 shall not be included in any computation of Taxes as part of Operating Expenses. 
 ARTICLE FIVE 
 SECURITY DEPOSIT 
  

	5.01	CASH DEPOSIT 

 (a) Tenant shall pay Landlord, concurrently
with execution of this Lease, in immediately available funds the amount of the Security Deposit specified in Section 1.01(14) as security (“Security”) for the full and faithful performance by Tenant of each and every term, provision,
covenant, and condition of this Lease. If Tenant fails timely to perform any of the terms, provisions, covenants and conditions of this Lease or any other document executed by Tenant in connection with this Lease, including, but not limited to, the
payment of any Rent or 

  

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the repair of damage to the Premises caused by Tenant (excluding normal wear and tear) then Landlord may use, apply, or retain the whole or any part of the
Security for the payment of any such Rent not paid when due, for the cost of repairing such damage, for the cost of cleaning the Premises, for the payment of any other sum which Landlord may expend or may be required to expend by reason of
Tenant’s failure to perform, and otherwise for compensation of Landlord for any other loss or damage to Landlord occasioned by Tenants failure to perform, including, but not limited to, any loss of future Rent and any damage or deficiency in
the releting of the Premises (whether such loss, damages or deficiency accrue before or after summary proceedings or other reentry by Landlord) and the amount of the unpaid past Rent, future Rent loss, and all other losses, costs and damages, that
Landlord would be entitled to recover if Landlord were to pursue recovery under Section 11.02(b) or (c) of this Lease. If Landlord so uses, applies or retains all or part of the Security, Tenant shall within five (5) business days
after demand pay or deliver to Landlord in immediately available funds the sum necessary to replace the amount used, applied or retained, except as specified in (c) below. If Tenant shall fully and faithfully comply with all of Tenants terms,
provisions, covenants and conditions of this Lease, the Security (except any amount retained for application by Landlord as provided herein) shall be returned or paid over to Tenant no later than forty-five (45) days after the latest of
(i) the Termination Date; (ii) the removal of Tenant from the Premises; (iii) the surrender of the Premises by Tenant to Landlord in accordance with this Lease; or (iv) the date Rent Adjustments owed pursuant to this Lease have
been computed by Landlord and paid by Tenant. Provided, however, in no event shall any such return be construed as an admission by Landlord that Tenant has performed all of its obligations hereunder. 
 (b) The Security shall not be deemed an advance rent deposit or an advance payment of any kind, or a measure of Landlord’s damages with respect to
Tenants failure to perform, nor shall any action or inaction of Landlord with respect to it be a waiver of, or bar or defense to, enforcement of any right or remedy of Landlord. Landlord shall not be required to keep the Security separate from its
general funds and shall not have any fiduciary or other duties concerning the Security except as set forth in this Section. Tenant shall not be entitled to any interest on the Security. In the event of any sale, lease or transfer of Landlord’s
interest in the Building, Landlord shall have the right to transfer the Security, or balance thereof, to the vendee, transferee or lessee and any such transfer shall release Landlord from all liability for the return of the Security. Tenant
thereafter shall look solely to such vendee, transferee or lessee for the return or payment of the Security. Tenant shall not assign or encumber or attempt to assign or encumber the Security or any interest in it and Landlord shall not be bound by
any such assignment, encumbrance, attempted assignment or attempted encumbrance, and regardless of one or more assignments of this Lease, Landlord may return the Security to the original Tenant without liability to any assignee. Tenant hereby waives
any and all rights of Tenant under the provisions of Section 1950.7 of the California Civil Code or other Law, now or hereafter enacted, regarding security deposits. 
 (c) Notwithstanding anything to the contrary contained in the foregoing, the following provisions shall apply to the Security Deposit Within thirty (30) days following the last day of the twenty fourth
(24th) month of the Term, Landlord shall return to Tenant the sum of $45,000 of the Security Deposit (“First Return”), provided that at the time of such First Return, Tenant shall not be in Default under the Lease. The First Return
shall be paid to Tenant by cash or check. Within thirty (30) days following the last day of the thirty sixth (3e) month of 

  

 19 

 
the Term, Landlord shall return to Tenant the sum of $45,000 of the Security Deposit (“Second Return”), provided that at the time of such Second
Return, Tenant shall not be in Default under the Lease. The Second Return shall be paid to Tenant by cash or check. Within thirty (30) days following the last day of the forty eighth (4e) month of the Term, Landlord shall return to Tenant
the sum of $45,000 of the Security Deposit (“Third Return”), provided that at the time of such Third Return, Tenant shall not be in Default under the Lease. The Third Return shall be paid to Tenant by cash or check. Within thirty
(30) days following the last day of the sixtieth (60th) month of the Term, Landlord shall return to Tenant the sum of $45,000 of the Security Deposit (“Fourth Return”), provided that at the time of such Fourth Return, Tenant
shall not be in Default under the Lease. The Fourth Return shall be paid to Tenant by cash or check. Within thirty (30) days following the last day of the seventy second (72m) month of the Term, Landlord shall return to Tenant the sum of
$45,000 of the Security Deposit (“Fifth Return”), provided that at the time of such Fifth Return, Tenant shall not be in Default under the Lease. The Fifth Return shall be paid to Tenant by cash or check. 
  

	5.02	LETTER OF CREDIT 

 Notwithstanding anything to the contrary contained
herein, Tenant shall have the option to deliver to Landlord a Letter of Credit (as set forth below) in lieu of the Security Deposit set forth in Section 5.01 above. If Tenant elects to post a Letter of Credit in lieu of the Security Deposit,
then the following shall apply: 
 (a) No later than February 1, 2004, Tenant shall deliver to Landlord the Letter of Credit described
below as security for Tenant’s performance of all of Tenant’s covenants and obligations under this Lease; provided, however, that neither the Letter of Credit nor any Letter of Credit Proceeds (as defined below) shall be deemed an advance
rent deposit or an advance payment of any other kind, or a measure of Landlord’s damages upon Tenant’s default. The Letter of Credit shall be maintained in effect from the date thereof through January 31, 2011 (the “LOC
Expiration Date”), and provided that on the LOC Expiration Date, Tenant shall not be in Default, Landlord shall return to Tenant the Letter of Credit and any Letter of Credit Proceeds then held by Landlord (other than those held for application
by Landlord on account of a Default as provided below). Landlord shall not be required to segregate the Letter of Credit Proceeds from its other funds and no interest shall accrue or be payable to Tenant with respect thereto. Landlord may (but shall
not be required to) draw upon the Letter of Credit and use the proceeds therefrom (the “Letter of Credit Proceeds”) or any portion thereof to cure any Default under this Lease, it being understood that any use of the Letter of Credit
Proceeds shall not constitute a bar or defense to any of Landlord’s remedies set forth in this Lease. In such event and upon written notice from Landlord to Tenant specifying the amount of the Letter of Credit Proceeds so utilized by Landlord
and the particular purpose for which such amount was applied, Tenant shall immediately deliver to Landlord an amendment Letter of Credit or a replacement Letter of Credit in an amount equal to the difference between the amount of the required Letter
of Credit and the amount so expended. Tenant’s failure to deliver such amendment to the Letter of Credit or replacement Letter of Credit to Landlord within five (5) business days of Landlord’s notice shall constitute a Default
hereunder. If Tenant is not in Default on the LOC Expiration Date, within forty-five (45) days after such date, Landlord shall return to Tenant the Letter of Credit or the balance of the Letter of Credit Proceeds then held by Landlord;
provided, however, that in no event shall any such return be construed as an admission 

  

 20 

 
by Landlord that Tenant has performed all of its obligations hereunder. No purchaser at any judicial or private foreclosure sale of the Real Property or any
portion thereof, shall be responsible to Tenant for such Letter of Credit or any Letter of Credit Proceeds unless such holder or purchaser shall have actually received the same. 
 (b) As used herein, Letter of Credit shall mean an unconditional, irrevocable letter of credit (hereinafter referred to as the ‘Letter of
Credit”) issued by the San Francisco Bay Area office of a major national bank satisfactory to Landlord (the “Bank”), naming Landlord as beneficiary, in the initial amount of Four Hundred Fifty Thousand and No/100 Dollars
($450,000.00). The Letter of Credit shall be for not less than a one-year term and shall provide that (i) Landlord may make partial and multiple draws upon the Letter of Credit up to the full amount thereof, as determined by Landlord,
(ii) the Bank will pay to Landlord the amount of such draw upon receipt by the Bank of a sight draft signed by Landlord, together with a written certification from Landlord that Tenant is in Default, (iii) Landlord is therefore entitled to
draw such amount; and (iv) in the event of Landlord’s assignment or other transfer of its interest in this Lease, the Letter of Credit shall be freely transferable by Landlord, without charge and without recourse, to the assignee or
transferee of such interest and the Bank shall confirm the same to Landlord and such assignee or transferee. In the event that the Bank shall fail to notify Landlord that the Letter of Credit will be renewed for at least one (1) year beyond the
then applicable expiration date, and Tenant shall not have delivered to Landlord, at least thirty (30) days prior to the relevant annual expiration date, a replacement Letter of Credit in the amount required hereunder and otherwise meeting the
requirements set forth above, then Landlord shall be entitled to draw on the Letter of Credit as provided above, and shall hold the proceeds of such draw as Letter of Credit Proceeds pursuant to Section 5.02(a) above. 
 (c) Notwithstanding anything to contrary contained herein, if Tenant is not in Default under the Lease on February 1, 2006, the replacement Letter
of Credit may be issued in the amount of Four Hundred Five Thousand and No/100 Dollars ($405,000.00). If Tenant is not in Default under the Lease on February 1, 2007, the replacement Letter of Credit may be issued in the amount of Three Hundred
Sixty Thousand and No/100 Dollars ($360,000.00). If Tenant is not in Default under the Lease on February 1, 2008, the replacement Letter of Credit may be issued in the amount of Three Hundred Fifteen Thousand and No/100 Dollars ($315,000.00).
If Tenant is not in Default under the Lease on February 1, 2009, the replacement Letter of Credit may be issued in the amount of Two Hundred Seventy Thousand and No/100 Dollars ($270,000.00). If Tenant is not in Default under the Lease on
February 1, 2010, the replacement Letter of Credit may be issued in the amount of Two Hundred Twenty Five Thousand and No/100 Dollars ($225,000.00). 
 (d) The cost of the Letter of Credit shall be paid by Tenant. 
 If Tenant shall fully and faithfully comply with all the
terms, provisions, covenants, and conditions of this Lease, the Letter of Credit, or any balance thereof, shall be returned to Tenant after the following: 
 (a) the expiration or earlier termination of the Term of this Lease; 
 (b) the removal of
Tenant and its property from the Premises; 
  

 21 

 (c) the surrender of the Premises by Tenant to Landlord in accordance with this Lease;
and 
 (d) the payment by Tenant of any outstanding Rent, including, without limitation, all Rent Adjustments due pursuant to
the Lease as computed by Landlord. 
 If Tenant fails timely to perform any obligation under this Article Five, such breach shall constitute a Default by
Tenant under this Lease without any right to or requirement of any further notice or cure period under any other Article of this Lease, except such notice and cure period expressly provided under this Article Five. 
 ARTICLE SIX 
 UTILITIES & SERVICES

  

	6.01	LANDLORD’S GENERAL SERVICES 

 Landlord shall provide maintenance and
services as provided in Article Eight. 
  

	6.02	TENANT TO OBTAIN & PAY DIRECTLY 

 (a) Tenant shall
be responsible for and shall pay promptly all charges for gas, electricity, sewer, heat, light, power, telephone, refuse pickup (to be performed on a regularly scheduled basis so that accumulated refuse does not exceed the capacity of Tenant’s
refuse bins), janitorial service and all other utilities, materials and services furnished directly to or used by Tenant in, on or about the Premises, together with all taxes thereon. Tenant shall contract directly with the providing companies for
such utilities and services. 
 (b) Notwithstanding any provision of the Lease to the contrary, without, in each instance, the prior written
consent of Landlord, as more particularly provided in Article Nine, Tenant shall not make any alterations or additions to the electric or gas equipment or systems or other Building systems. Tenant’s use of electric current shall at no time
exceed the capacity of the wiring, feeders and risers providing electric current to the Premises or the Building. The consent of Landlord to the installation of electric equipment shall not relieve Tenant from the obligation to limit usage of
electricity to no more than such capacity. 
  

	6.03	TELEPHONE SERVICES 

 All telegraph, telephone, and
communication connections which Tenant may desire to construct or install outside the Premises shall be subject to Landlord’s prior written approval, in Landlord’s sole discretion, and the location of all wires and the work in connection
therewith shall be performed by contractors reasonably approved by Landlord and shall be subject to the direction of Landlord, except that such approval is not required as to Tenant’s cabling from the Premises in a route designated by Landlord
to any telephone cabinet or panel provided for Tenant’s connection to the telephone cable serving the Building, so long as Tenant’s equipment does not require connections different than or additional to those to the telephone cabinet or
panel provided. As to any such connections or work outside the Premises requiring Landlord’s approval, Landlord reserves the right to designate and control the entity or entities providing telephone or other communication cable installation,
removal, repair and maintenance outside 

  

 22 

 
the Premises and to restrict and control access to telephone cabinets or panels. In the event Landlord designates a particular vendor or vendors to provide
such cable installation, removal, repair and maintenance for the Building, Tenant agrees to abide by and participate in such program. Tenant shall be responsible for and shall pay all costs incurred in connection with the installation of telephone
cables and communication wiring in the Premises, including any hook-up, access and maintenance fees related to the installation of such wires and cables in the Premises and the commencement of service therein, and the maintenance thereafter of such
wire and cables; and there shall be included in Operating Expenses for the Building all installation, removal, hook-up or maintenance costs incurred by Landlord in connection with telephone cables and communication wiring serving the Building
which are not allocable to any individual users of such service but are allocable to the Building generally. If Tenant fails to maintain all telephone cables and communication wiring in the Premises and such failure affects or interferes with the
operation or maintenance of any other telephone cables or communication wiring serving the Building, Landlord or any vendor hired by Landlord may enter into and upon the Premises forthwith and perform such repairs, restorations or alterations as
Landlord deems necessary in order to eliminate any such interference (and Landlord may recover from Tenant all of Landlord’s costs in connection therewith). No later than the Termination Date, Tenant agrees to remove all telephone cables and
communication wiring installed by Tenant for and during Tenant’s occupancy, which Landlord shall request Tenant to remove. Tenant agrees that neither Landlord nor any of its agents or employees shall be liable to Tenant, or any of Tenant’s
employees, agents, customers or invitees or anyone claiming through, by or under Tenant, for any damages, injuries, losses, expenses, claims or causes of action because of any interruption, diminution, delay or discontinuance at any time for any
reason in the furnishing of any telephone or other communication service to the Premises and the Building, except in connection with Landlord’s gross negligence or willful misconduct. 
  

	6.04	FAILURE OR INTERRUPTION OF UTILITY OR SERVICE 

 To the
extent that any equipment or machinery furnished or maintained by Landlord outside the Premises is used in the delivery of utilities directly obtained by Tenant pursuant to Section 6.02 and breaks down or ceases to function properly, Landlord
shall use reasonable diligence to repair same promptly. In the event of any failure, stoppage or interruption of, or change in, any utilities or services supplied by Landlord which are not directly obtained by Tenant, Landlord shall use reasonable
diligence to have service promptly resumed. In either event covered by the preceding two sentences, if the cause of any such failure, stoppage or interruption of, or change in, utilities or services is within, the control of a public utility, other
public or quasi- public entity, or utility provider outside Landlord’s control, notification to such utility or entity of such failure, stoppage or interruption and request to remedy the same shall constitute “reasonable diligence by
Landlord to have service promptly resumed. Notwithstanding any other provision of this Section to the contrary, in the event of any failure, stoppage or interruption of, or change in, any utility or other service famished to the Premises or the
Project resulting from any cause, including changes in service provider or Landlord’s compliance with any voluntary or similar governmental or business guidelines now or hereafter published or any requirements now or hereafter established by
any governmental agency, board or bureau having jurisdiction over the operation of the Property: (a) Landlord shall not be liable for, and Tenant shall not be entitled to, any abatement or reduction of Rent; (b) no such failure, stoppage,
or interruption of any such utility or service shall constitute an eviction of Tenant or relieve Tenant 

  

 23 

 
of the obligation to perform any covenant or agreement of this Lease to be performed by Tenant; (c) Landlord shall not be in breach of this Lease nor be
liable to Tenant for damages or otherwise. 
 Notwithstanding the above, except for
the interruption of the foregoing services arising by reason of fire or casualty loss provided for in Article 14, any interruption of such services which is within Landlord’s reasonable control and which ‘materially interferes’ with
Tenant’s use of any part of the Premises for a period of ten (10) consecutive business days after notice by Tenant to Landlord of such interruption of service shall entitle Tenant to abate the Monthly Base Rent and Rent Adjustment under
this Lease for that portion of the Premises which are untenantable for the period commencing on the eleventh (11th) business day of
interruption of such services and terminating on the day of restoration of the services. For purposes of this Section 6.04, material interference with Tenant’s use of the Premises shall occur when Tenant shall be prevented from using the
Premises for general office purposes, research and development, chemical and biochemical laboratory facilities, and warehousing as a consequence of Landlord’s inability to provide the services specified in Section 6.01. In no event shall
Landlord be liable for any damages, consequential or otherwise. 
  

	6.05	CHOICE OF SERVICE PROVIDER 

 Tenant acknowledges that
Landlord may, at Landlord’s sole option, to the extent permitted by applicable law, elect to change, from time to time, the company or companies which provide services (including electrical service, gas service, water, telephone and technical
services) to the Property, the Premises and/or its occupants. Notwithstanding anything to the contrary set forth in this Lease, Tenant acknowledges that Landlord has not and does not make any representations or warranties concerning the identity or
identities of the company or companies which provide services to the Property and the Premises or its occupants and Tenant acknowledges that the choice of service providers and matters concerning the engagement and termination thereof shall be
solely that of Landlord. The foregoing provision Is not intended to modify, amend, change or otherwise derogate any provision of this Lease concerning the nature or type of service to be provided or any specific information concerning the amount
thereof to be provided. Tenant agrees to cooperate with Landlord and each of its service providers in connection with any change in service or provider and Landlord agrees that any such change shall be at no cost to Tenant and that Landlord and any
such service provider shall work together to minimize any impact of such change on Tenants operations. 
  

	6.06	SIGNAGE 

 Tenant shall not install any signage within the
Project, the Building or the Premises without obtaining the prior written approval of Landlord, and Tenant shall be responsible for procurement, installation, maintenance and removal of any such signage installed by Tenant, and all costs in
connection therewith. Any such signage shall comply with Landlord’s current Project signage criteria and all Laws. 
  

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 ARTICLE SEVEN 
 POSSESSION, USE AND CONDITION OF PREMISES 
  

	7.01	POSSESSION AND USE OF PREMISES 

 (a) Tenant shall occupy
and use the Premises only for the uses specified in Section 1.01(19) to conduct Tenant’s business. Tenant shall not occupy or use the Premises (or permit the use or occupancy of the Premises) for any purpose or in any manner which:
(1) is unlawful or in violation of any Law or Environmental Law; (2) may be dangerous to- persons or property or which may increase the cost of, or invalidate, any policy of insurance carried on the Building or covering its operations;
(3) is contrary to or prohibited by the terms and conditions of this Lease or the rules and regulations as provided in Article Eighteen; (4) contrary to or prohibited by the articles, bylaws or rules of any owner’s association
affecting the Project (5) is improper, immoral, or objectionable; (6) would obstruct or interfere with the rights of other tenants or occupants of the Building or the Project, or injure or annoy them, or would tend to create or continue a
nuisance; or (7) would constitute any waste in or upon the Premises or Project. 
 (b) Landlord and Tenant acknowledge that the
Americans With Disabilities Act of 1990 (42 U.S.C. §12101 et seq.) and regulations and guidelines promulgated thereunder, as all of the same may be amended and supplemented from time to time (collectively referred to herein as the
“ADA”) establish requirements for business operations, accessibility and barrier removal, and that such requirements may or may not apply to the Premises, the Building and the Project depending on, among other things: (1) whether
Tenants business is deemed a “public accommodation” or “commercial facility”, (2) whether such requirements are “readily achievable”, and (3) whether a given alteration affects a “primary function
area’ or triggers “path of travel” requirements. The parties hereby agree that: (a) Landlord shall be responsible for ADA Title III compliance in the Common Areas, except as provided below, (b) Tenant shall be responsible
for ADA Title III compliance in the Premises, including any leasehold improvements or other work to be performed in the Premises under or in connection with this Lease, (c) Landlord may perform, or require that Tenant perform, and Tenant shall
be responsible for the cost of, ADA Title III “path of travel” requirements directly triggered by Tenant Additions in the Premises, and (d) Landlord may perform, or require Tenant to perform, and Tenant shall be responsible for the
cost of, ADA Title III compliance in the Common Areas necessitated by the Building being deemed to be a “public accommodation” instead of a “commercial facility” as a result of Tenant’s use of the Premises. Tenant shall be
solely responsible for requirements under Title I of the ADA relating to Tenants employees. 
 (c) Landlord and Tenant agree to cooperate and
use commercially reasonable efforts to participate in traffic management programs generally applicable to businesses located in or about the area and Tenant shall encourage and support van and car pooling by, and staggered and flexible working hours
for, its office workers and service employees to the extent reasonably permitted by the requirements of Tenant’s business. Neither this Section or any other provision of this Lease is intended to or shall create any rights or benefits in any
other person, firm, company, governmental entity or the public. 
  

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 (d) Tenant agrees to cooperate with Landlord and to use reasonable efforts to comply with any and all
guidelines or controls concerning energy management imposed upon Landlord by federal or state governmental organizations or by any energy conservation association to which Landlord is a party or which is applicable to the Building. 
  

	7.02	HAZARDOUS MATERIAL 

 (a) Tenant shall not use, generate,
manufacture, produce, store, handle, release, discharge, or dispose of, on, under or about the Premises or any part of the Project, or transport to or from the Premises or any part of the Project, any Hazardous Material, or allow its employees,
agents,’ contractors, licensees, invitees or any other person or entity (“Tenant Parties”) to do so except to the extent expressly provided below. Provided that the Premises are used only for the uses specified in
Section 1.01(15) above, Tenant shall be permitted to use and store in, and transport to and from, the Premises Hazardous Material identified on Exhibit D hereto and by this reference incorporated herein (“Permitted Hazardous
Material”) so long as: (i) each item of the Permitted Hazardous Material is used or stored in, or transported to and from, the Premises only to the extent necessary for Tenant’s operation of its business at the Premises; (ii) at
no time shall any Permitted Hazardous Material be in use or storage at the Premises in excess of the quantity specified therefor in Exhibit D (iii) Tenant shall not install any underground tanks of any type; and (iv) the conditions
and provisions set forth in this Section 7.02 are complied with. Tenant shall comply with and shall cause all Tenant Parties to comply with all Environmental Laws and other Laws pertaining to Tenant’s occupancy and use of the Premises and
concerning the proper use, generation, manufacture, production, storage, handling, release, discharge, removal and disposal of any Hazardous Material introduced to the Premises, the Building or the Property by Tenant or any of the Tenant Parties.
Without limiting the generality of the foregoing: 
 (1) Tenant shall provide Landlord promptly with copies of: (x) all permits, licenses
and other governmental and regulatory approvals with respect to the use, generation, manufacture, production, storage, handling, release, discharge, removal and disposal by Tenant or Any of the Tenant Parties of Hazardous Material at the Project;
and (y) each hazardous material management plan or similar document (“Plan(s)”) with respect to use, generation, manufacture, production, storage, handling, release, discharge, removal or disposal of Hazardous Material by Tenant or
any of the Tenant Parties necessary to comply with Environmental Laws or other Laws prepared by or on behalf of Tenant or any of the Tenant Parties (whether or not required to be submitted to a governmental agency). 
 (2) If Tenant is notified of any investigation or, violation of any Environmental Laws or other Laws arising from any activity of Tenant or any of the
Tenant Parties at the Property, or if Tenant knows, or has reasonable cause to believe, that a Hazardous Material has come to be located in, on, under or about the Premises or the Project, other than as previously consented to by Landlord, Tenant
shall immediately give written notice of such fact to Landlord, and provide Landlord with a copy of all reports, notices, claims or other documentation which it has concerning the presence of such Hazardous 

  

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Material. In such event or in the event Landlord reasonably believes that there exists a violation of this Lease or Environmental Law or other Laws by Tenant
or any of the Tenant Parties, Landlord may conduct, at Tenant’s expense, such tests and studies as Landlord deems desirable relating to compliance by Tenant or any of the Tenant Parties with this Lease, Environmental Laws, other Laws, or
relating to the alleged presence of Hazardous Material introduced to the Premises, the Building or the Property by Tenant or any of the Tenant Parties. 
 (3) Neither Tenant nor any of the Tenant Parties shall cause or permit any Hazardous Material to be released, discharged or disposed of in, on, under, or about the Premises or the Project (including through the
plumbing or sanitary sewer system) and shall promptly, at Tenant’s expense, take all investigatory and/or remedial action reasonably recommended, whether or not formally ordered or required, for the cleanup of any contamination of, and for the
maintenance, security and/or monitoring of the Premises, the Project or neighboring properties, that was caused or materially contributed to by Tenant, or pertaining to or involving any Hazardous Material brought onto the Premises or the Project by
Tenant or any of the Tenant Parties. 
 (4) Tenant shall, no later than the Termination Date, surrender the Premises to Landlord free of
Hazardous Material and with all remedial and/or closure plans completed (and deliver evidence thereof to Landlord). 
 (b) To the extent
permitted by law, Tenant hereby indemnifies and agrees to protect, defend and hold the Indemnitees harmless against all actions, claims, demands, liability, costs and expenses, inducting attorneys’ fees and expenses for the defense thereof,
arising from the use, generation, manufacture, production, storage, handling, release, threatened release, discharge, disposal, transportation to or from, or presence of any Hazardous Material on, under or about the Premises or any part of the
Project caused by Tenant or by any of the Tenant Parties, whether before, during or after the Term. Tenant’s obligations under this Section 7.02 shall survive the expiration or earlier termination of this Lease. In case of any action or
proceeding brought against the Indemnitees by reason of any such claim, upon notice from Landlord, Tenant covenants to defend such action or proceeding by counsel chosen by Landlord, in Landlord’s sole discretion. Landlord reserves the right to
settle, compromise or dispose of any and all actions, claims and demands related to the foregoing indemnity. 
 (c) The right to use and
store the Permitted Hazardous Material in the Premises is personal to Codexis Inc. and may not be assigned or otherwise transferred by Codexis Inc. without the prior written consent of Landlord, which consent may be withheld in Landlord’s sole
discretion. Notwithstanding the. foregoing, Landlord hereby agrees that Tenant may use the services of Maxygen, Inc., a Delaware corporation for the foregoing services, but no other company is currently approved. Landlord hereby agrees that Tenant,
with the prior written consent of Landlord, may use another outside provider to transport to and from the Premises the Permitted Hazardous Material. Landlord hereby approves of the outside providers set forth on Exhibit F Any consent by
Landlord pursuant to Article Ten to an assignment, transfer, subletting, mortgage, pledge, hypothecation or encumbrance of this Lease, and any interest therein or right or privilege appurtenant thereto, shall not constitute consent by Landlord to
the use or storage at, 

  

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or transportation to, the Premises of any Hazardous Material (including a Permitted Hazardous Material) by any such assignee, sublessee or transferee unless
Landlord expressly agrees otherwise in writing. Any consent by Landlord to the use or storage at, or transportation to or from the Premises, of any Hazardous Material (including a Permitted Hazardous Material) by an assignee, sublessee or transferee
of Tenant shall not constitute a waiver of Landlord’s right to refuse such consent as to any subsequent assignee or transferee. 
 (d)
Tenant acknowledges that the sewer piping at the Project is made of ABS plastic. Accordingly, without Landlord’s prior written consent, which may be given or withheld in Landlord’s sole discretion, only ordinary domestic sewage is
permitted to be put into the drains at the Premises. UNDER NO CIRCUMSTANCES SHALL Tenant EVER DEPOSIT ANY ESTERS OR KETONES (USUALLY FOUND IN SOLVENTS TO CLEAN UP PETROLEUM PRODUCTS) IN THE DRAINS AT THE PREMISES. If Tenant desires to put any
substances other than ordinary domestic sewage into the drains, it shall first submit to Landlord a complete description of each such substance, including its chemical composition, and a sample of such substance suitable for laboratory testing.
Landlord shall promptly determine whether or not the substance can be deposited into the drains and its determination shall be absolutely binding on Tenant. Upon demand, Tenant shall reimburse Landlord for expenses incurred by Landlord in making
such determination. If any substances not so approved hereunder are deposited in the drains in Tenant’s Premises, Tenant shall be liable to Landlord for all damages resulting therefrom, including but not limited to all costs and expenses
incurred by Landlord in repairing or replacing the piping so damaged. 
 (e) Upon any violation of any of the foregoing covenants, in
addition to all remedies available to a landlord against the defaulting tenant, including but not limited to those set forth in Article Eleven of this Lease, Tenant expressly agrees that upon any such violation Landlord may, at its option
(i) immediately terminate this Lease by giving written notice to Tenant of such termination, or (ii) continue this Lease in effect until compliance by Tenant with its clean-up and removal covenant (notwithstanding the expiration of the
Term). No action by Landlord hereunder shall impair the obligations of Tenant pursuant to this Section 7.02. 
  

	7.03	LANDLORD ACCESS TO PREMISES; APPROVALS 

 (a) Tenant shall
permit Landlord to erect, use and maintain pipes, ducts, wiring and conduits in and through the Premises, so long as Tenant’s use, layout or design of the Premises is not materially affected or altered. Landlord or Landlord’s agents shall
have the right to enter upon the Premises in the event of an emergency, or to inspect the Premises, to perform janitorial and other services (if any), to conduct safety and other testing in the Premises and to make such repairs, alterations,
improvements or additions to the Premises or the Building or other parts of the Property as Landlord may reasonably deem necessary or desirable (including all alterations, improvements and additions in connection with a change in service provider or
providers). Janitorial and cleaning services (if any) shall be performed after normal business hours. Any entry or work by Landlord may be during normal business hours and Landlord shall use reasonable efforts to ensure that any entry or work shall
not materially interfere with Tenant’s occupancy or quiet enjoyment of the Premises. 
  

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 (b) If Tenant shall not be personally present to permit an entry into the Premises when for any reason an
entry therein shall be necessary or permissible, Landlord (or Landlord’s agents), after attempting to notify Tenant (unless Landlord believes an emergency situation exists), may enter the Premises without rendering Landlord or its agents liable
therefor, and without relieving Tenant of any obligations under this Lease. 
 (c) Landlord may enter the Premises for the purpose of
conducting such inspections, tests and studies as Landlord may deem desirable or necessary to confirm Tenant’s compliance with all Laws and Environmental Laws or for other purposes necessary in Landlord’s reasonable judgment to ensure the
sound condition of the Property and the systems serving the Property so long as Landlord (I) does not materially, adversely affect Tenant’s use and occupancy of the Premises, (ii) does not cause damage to Tenant’s equipment and
leasehold improvements and (iii) complies with the provisions of this Section 7.03. Landlord’s rights under this Section 7.03 (c) are for Landlord’s own protection only, and Landlord has not, and shall not be deemed to
have assumed, any responsibility to Tenant or any other party as a result of the exercise or non-exercise of such rights, for compliance with Laws or Environmental Laws or for the accuracy or sufficiency of any item or the quality or suitability of
any item for its intended use. 
 (d) Landlord may do any of the foregoing, or undertake any of the inspection or work described in the
preceding paragraphs without such action constituting an actual or constructive eviction of Tenant, in whole or in part, or giving rise to an abatement of Rent by reason of loss or interruption of business of the Tenant, or otherwise. 
 (e) The review, approval or consent of Landlord with respect to any item required or permitted under this Lease is for Landlord’s own protection
only, and Landlord has not, and shall not be deemed to have assumed, any responsibility to Tenant or any other party, as a result of the exercise or non-exercise of such rights, for compliance with Laws or Environmental Laws or for the accuracy or
sufficiency of any item or the quality or suitability of any item for its intended use. 
  

	7.04	QUIET ENJOYMENT 

 Landlord covenants, in lieu of any
implied covenant of quiet possession or quiet enjoyment, that so long as Tenant is in compliance with the covenants and conditions set forth in this Lease, Tenant shall have the right to quiet enjoyment of the Premises without hindrance or
interference from Landlord or those claiming through Landlord, and subject to the covenants and conditions set forth in the Lease and to the rights of any Mortgagee or ground lessor. 
 ARTICLE EIGHT 
 MAINTENANCE 
  

	8.01	LANDLORD’S MAINTENANCE 

 Subject to Article Fourteen
and Section 8.02, Landlord shall maintain the structural portions of the Building, the roof, exterior walls and exterior doors, foundation, and underslab standard sewer system of the Building in good, clean and safe condition, and shall use
reasonable efforts, through Landlord’s program of regularly scheduled preventive maintenance, to keep the 

  

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Buildings standard heating, ventilation and air conditioning (“HVAC”) equipment in reasonably good order and condition. Notwithstanding the
foregoing, Landlord shall have no responsibility to repair the Building’s standard heating, ventilation and air conditioning equipment, and all such repairs shall be performed by Tenant pursuant to the terms of Section 8.02. Landlord shall
also (a) maintain the landscaping, parking facilities and other Common Areas of the Project in a first-class manner consistent with other projects in the vicinity of the Premises, and (b) wash the outside of exterior windows at intervals
determined by Landlord. Except as provided in Article Fourteen and Article Fifteen, there shall be no abatement of rent, no allowance to Tenant for diminution of rental value and no liability of Landlord by reason of inconvenience, annoyance or any
injury to or interference with Tenant’s business arising from the making of or the failure to make any repairs, alterations or improvements in or to any portion of the Project or in or to any fixtures, appurtenances or equipment therein. Tenant
waives the right to make repairs at Landlord’s expense under any law, statute or ordinance now or hereafter in effect 
  

	8.02	TENANTS MAINTENANCE 

 Subject to the provisions of Article
Fourteen, Tenant shall, at Tenant’s sole cost and expense, make all repairs to the Premises and fixtures therein which Landlord is not required to make pursuant to Section 8.01, including repairs to the interior walls, ceilings and windows
of the Premises, the interior doors, Tenant’s signage, and the electrical, fife-safety, plumbing and heating, ventilation and air conditioning systems located within or serving the Premises and shall maintain the Premises, the fixtures and
utilities systems therein, and the area immediately surrounding the Premises (including all garbage enclosures), in a good, clean and safe condition. Tenant shall deliver to Landlord a copy of any maintenance contract entered into by Tenant with
respect to the Premises. Tenant shall also, at Tenant’s expense, keep any non-standard heating, ventilating and air conditioning equipment and other non-standard equipment in the Building in good condition and repair, using contractors approved
in advance, in writing, by Landlord. Notwithstanding Section 8.01 above, but subject to the waivers set forth in Section 16.04, Tenant will pay for any repairs to the Building or the Project which are caused by any negligence or
carelessness, or by any willful and wrongful act, of Tenant or its assignees, subtenants or employees, or of the respective agents of any of the foregoing persons, or of any other persons permitted in the Building or elsewhere in the Project by
Tenant or any of them. Tenant will maintain the Premises, and will leave the Premises upon termination of this Lease, in a safe, clean, neat and sanitary condition, ordinary wear and tear excepted. 
 ARTICLE NINE 
 ALTERATIONS AND IMPROVEMENTS

  

	9.01	TENANT ALTERATIONS 

 (a) The following provisions shall
apply to the completion of any Tenant Alterations: 
 (1) Tenant shall not, except as provided herein, without the prior written consent of
Landlord, which consent shall not be unreasonably withheld or delayed, make or cause to be made any Tenant Alterations in or to the Premises or any Property systems serving the Premises. Landlord shall 

  

 30 

 
approve or disapprove of, and notify the Tenant of the reasons for such disapproval, any materials submitted by Tenant with respect obtaining Landlord’s
consent as set forth above, within ten (10) days after receipt of the same from the Tenant. Prior to making any Tenant Alterations, Tenant shall also give Landlord ten (10) days prior written notice (or such earlier notice as would be
necessary pursuant to applicable Law) to permit Landlord sufficient time to post appropriate notices of non-responsibility. Subject to all other requirements of this Article Nine, Tenant may undertake Decoration work without Landlord’s prior
written consent. Tenant shall furnish Landlord with the names and addresses of all contractors and subcontractors and copies of all contracts. All Tenant Alterations (other than Decorations) shall be completed at such time and in such manner as
Landlord may from time to time designate, and only by contractors or mechanics approved by Landlord, which approval shall not be unreasonably withheld or delayed, provided, however, that Landlord may, in its sole discretion, specify the engineers
and contractors to perform all work relating to the Building’s systems (including the mechanical, heating, plumbing, security, ventilating, air-conditioning, electrical, communication and the fire and life safety systems in the Building). The
contractors, mechanics and engineers who may be used are further limited to those whose work will not cause or threaten to cause disharmony or interference with Landlord or other tenants in the Building and their respective agents and contractors
performing work in or about the Building. Landlord may further condition its consent upon Tenant furnishing to Landlord and Landlord approving prior to the commencement of any work or delivery of materials to the Premises related to the Tenant
Alterations such of the following as specified by Landlord: architectural plans and specifications, opinions from Landlord’s engineers stating that the Tenant Alterations will not in any way adversely affect the Building’s systems,
necessary permits and licenses, certificates of insurance, and such other documents in such form reasonably requested by Landlord. Landlord may, in the exercise of reasonable judgment, request that Tenant provide Landlord with appropriate evidence
of Tenants ability to complete and pay for the completion of the Tenant Alterations such as a performance bond or letter of credit. Upon completion of the Tenant Alterations, Tenant shall deliver to Landlord an as-built mylar and digitized (if
available) set of plans and specifications for the Tenant Alterations. 
 (2) Tenant shall pay the cost of all Tenant Alterations and the cost
of decorating the Premises and any work to the Property occasioned thereby. In connection with completion of any Tenant Alterations, other than Decoration, Tenant shall pay Landlord a construction fee at Landlord’s then standard rate. Upon
completion of Tenant Alterations, Tenant shall furnish Landlord with contractors’ affidavits and full and final waivers of lien and receipted bills covering all labor and materials expended and used in connection therewith and such other
documentation reasonably requested by Landlord or Mortgagee. 
  

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 (3) Tenant agrees to complete all Tenant Alterations (i) in accordance with all Laws, Environmental
Laws, all requirements of applicable insurance companies and in accordance with Landlord’s standard construction rules and regulations, and (ii) in a good and workmanlike manner with the use of good grades of materials. Tenant shall notify
Landlord immediately if Tenant receives any notice of violation of any Law in connection with completion of any Tenant Alterations and shall immediately take such steps as are necessary to remedy such violation. In no event shall such supervision or
right to supervise by Landlord nor shall any approvals given by Landlord under this Lease constitute any warranty by Landlord to Tenant of the adequacy of the design, workmanship or quality of such work or materials for Tenants intended use or of
compliance with the requirements of Section 9.01(a)(3)(i) and (ii) above or impose any liability upon Landlord in connection with the performance of such work. 
 (b) All of the items listed on Exhibit G attached hereto and made a part hereof (“Tenants Improvements”) and all of Tenant’s Personal Property shall be the sole and exclusive property of Tenant
during the Term of this Lease and Tenant shall be permitted to encumber Tenants Personal Property and Tenant’s Improvements during the Term of this Lease; provided, however, that Tenant shall hold Landlord harmless from any and all claims of
third parties with respect to Landlord’s handling of such Tenants Personal Property pursuant to the terms of Section 12.02 of this Lease unless Tenant obtains, at Tenants sole option, Landlord’s consent to any such encumbrances, such
consent to be similar in form to the form of Landlord’s Consent to Lease of Personal Property attached hereto as Exhibit H and made a part hereof. Tenant shall be entitled to remove Tenants Personal Property upon the expiration or earlier
termination of this Lease as provided in Article 12 hereof, but Landlord and Tenant agree that Tenant’s Improvements shall remain in the Premises after the termination or earlier expiration of this Lease. 
 (c) All Tenant Additions to the Premises whether installed by Landlord or Tenant, shall, without compensation or credit to Tenant, become part of the
Premises and the property of Landlord at the time of their installation and shall remain in the Premises, unless pursuant to Article Twelve, Tenant may remove them or is required to remove them at Landlord’s request. 
  

	9.02	LIENS 

 Tenant shall not permit any lien or claim for lien
of any mechanic, laborer or supplier or any other lien to be filed against the Building, the Land, the Premises, or any other part of the Property arising out of work performed, or alleged to have been performed by, or at the direction of, or on
behalf of Tenant. If any such lien or claim for lien is filed, Tenant shall within ten (10) days of receiving notice of such lien or claim (a) have such lien or claim for lien released of record or (b) deliver to Landlord a bond in
form, content, amount, and issued by surety, satisfactory to Landlord, indemnifying, protecting, defending and holding harmless the Indemnitees against all costs and liabilities resulting from such lien or claim for lien and the foreclosure or
attempted foreclosure thereof. If Tenant fails to take any of the above actions, Landlord, in addition to its rights and remedies under Article Eleven, without investigating the 

  

 32 

 
validity of such lien or claim for lien, may pay or discharge the same and Tenant shall, as payment of additional Rent hereunder, reimburse Landlord upon
demand for the amount so paid by Landlord, including Landlord’s reasonable expenses and attorneys’ fees. 
 ARTICLE TEN 

ASSIGNMENT AND SUBLETTING 
  

	10.01	ASSIGNMENT AND SUBLETTING 

 (a) Without the prior written
consent of Landlord, which may be withheld in Landlord’s sole discretion, Tenant may not sublease, assign, mortgage, pledge, hypothecate or otherwise transfer or permit the transfer of this Lease or the encumbering of Tenant’s interest
therein in whole or in part, by operation of Law or otherwise or permit the use or occupancy of the Premises, or any part thereof, by anyone other than Tenant, provided, however, if Landlord chooses not to recapture the space proposed to, be
subleased or assigned as provided in Section 10.02, Landlord shall not unreasonably withhold its consent to a subletting or assignment under this Section 10.01. Tenant agrees that the provisions governing sublease and assignment set forth
in this Article Ten shall be deemed to be reasonable. If Tenant desires to enter into any sublease of the Premises or assignment of this Lease, Tenant shall deliver written notice thereof to Landlord (“Tenant’s Notice”), together with
the identity of the proposed subtenant or assignee and the proposed principal terms thereof and financial and other information sufficient for Landlord to make an informed judgment with respect to such proposed subtenant or assignee at least thirty
(30) days prior to the commencement date of the term of the proposed sublease or assignment. If Tenant proposes to sublease less than all of Tenant’s Rentable Area of the Premises, the space proposed to be sublet and the space retained by
Tenant must each be a marketable unit as reasonably determined by Landlord and otherwise in compliance with all Laws. Landlord shall notify Tenant in writing of its approval or disapproval of the proposed sublease or assignment or its
decision to exercise its rights under Section 10.02 within thirty (30) days after receipt of Tenant’s Notice (and all required information). In no event may Tenant sublease any portion of the Premises or assign the Lease to any other
tenant of the Project Tenant shall submit for Landlord’s approval (which approval shall not be unreasonably withheld) any advertising which Tenant or its agents intend to use with respect to the space proposed to be sublet. 
 (b) With respect to Landlord’s consent to an assignment or sublease, Landlord may take into consideration any factors which Landlord may deem
relevant, and the reasons for which Landlord’s denial shall be deemed to be reasonable shall include, without limitation, the following: 
 (i) the business reputation or creditworthiness of any proposed subtenant or assignee is not acceptable to Landlord; or 
 (ii) in Landlord’s reasonable judgment the proposed assignee or subtenant would diminish the value or reputation of the Building or Landlord; or 
  

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 (iii) any proposed assignees or subtenant’s use of the Premises would violate
Section 7.01 of the Lease or would violate the provisions of any other eases of tenants in the Project; 
 (iv) the
proposed assignee or subtenant is either a government agency, a school or similar operation, or a medical related practice; or 
 (v) the proposed subtenant or assignee is a bona fide prospective tenant of Landlord in the Project as demonstrated by a written proposal dated within ninety (90) days prior to the date of Tenants request or 
 (vi) the proposed subtenant or assignee would materially increase the estimated pedestrian and vehicular traffic to and from the Premises
and the Building. 
 In no event shall Landlord be obligated to consider a consent to any proposed assignment of the Lease which would assign
less than the entire Premises. In the event Landlord wrongfully withholds its consent to any proposed sublease of the Premises or assignment of the Lease, Tenants sole and exclusive remedy therefor shall be to seek specific performance of
Landlord’s obligations to consent to such sublease or assignment. 
 (c) Any sublease or assignment shall be expressly subject to the
terms and conditions of this Lease. Any subtenant or assignee shall execute such documents as Landlord may reasonably require to evidence such subtenant or assignee’s assumption of the obligations and liabilities of Tenant under this Lease.
Tenant shall deliver to Landlord a copy of all agreements executed by Tenant and the proposed subtenant and assignee with respect to the Premises. Landlord’s approval of a sublease, assignment, hypothecation, transfer or third party use or
occupancy shall not constitute a waiver of Tenants obligation to obtain Landlord’s consent to further assignments or subleases, hypothecations, transfers or third party use or occupancy. 
 (d) Notwithstanding anything to the contrary contained in this Article Ten, Tenant shall have the right, without the prior written consent of Landlord,
to sublease the Premises to an Affiliate, or to assign this Lease to an Affiliate, but (i) no later than fifteen (15) days prior to the effective date of the assignment or sublease, the assignee or sublessee shall execute documents
satisfactory to Landlord to evidence such subtenant or assignee’s assumption of the obligations and liabilities of Tenant under this Lease, except in the case of any assignment which occurs by operation of law (and without a written assignment)
as a consequence of merger, consolidation or non-bankruptcy reorganization; (ii) within ten (10) days after the effective date of such assignment or sublease, give notice to Landlord which notice shall include the full name and address of
the assignee or subtenant, and a copy of all agreements executed between Tenant and the assignee or subtenant with respect to the Premises; and (iii) within fifteen (15) days after Landlord’s request, such documents or information
which Landlord reasonably requests for the purpose of substantiating whether or not the assignment or sublease is to an Affiliate. 
  

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 For the purposed of this Lease, “Affiliate” shall mean any corporation or other business entity
which (i) is currently owned or controlled by, owns or controls, or is under common ownership or control with Tenant, or (ii) is Tenants successor through merger, reorganization or consolidation, or (in) acquires substantially all of the
assets of Tenant 
  

	10.02	RECAPTURE 

 Landlord shall have the option to exclude from
the Premises covered by this Lease (“recapture”), the space proposed to be sublet or subject to the assignment, effective as of the proposed commencement date of such sublease or assignment. If Landlord elects to recapture, Tenant shall
surrender possession of the space proposed to be subleased or subject to the assignment to Landlord on the effective date of recapture of such space from the Premises, such date being the Termination Date for such space. Effective as of the date of
recapture of any portion of the Premises pursuant to this section, the Monthly Base Rent, Tenants Rentable Area of the Premises and Tenants Share shall be adjusted accordingly. 
  

	10.03	EXCESS RENT 

 Tenant shall pay Landlord on the first day of
each month during the term of the sublease or assignment, fifty percent (50%) of the amount by which the sum of all rent and other consideration (direct or indirect) due from the subtenant or assignee for such month exceeds: (i) that
portion of the Monthly Base Rent and Rent Adjustments due under this Lease for said month which is allocable to the space sublet or assigned; and (ii) the following costs and expenses for the subletting or assignment of such space:
(1) brokerage commissions and attorneys’ fees and expenses, (2) the actual costs paid in making any improvements or substitutions in the Premises required by any sublease or assignment; and (3) “free rent” periods,
costs of any inducements or concessions given to subtenant or assignee, moving costs, and other amounts in respect of such subtenant’s or assignee’s other leases or occupancy arrangements. All such costs and expenses shall be amortized
over the term of the sublease or assignment pursuant to sound accounting principles. 
  

	10.04	TENANT LIABILITY 

 In the event of any sublease or
assignment, whether or not with Landlord’s consent Tenant shall not be released or discharged from any liability, whether past, present or future, under this Lease, including any liability arising from the exercise of any renewal or expansion
option, to the extent such exercise is expressly permitted by Landlord. Tenant’s liability shall remain primary, and in the event of default by any subtenant, assignee or successor of Tenant in performance or observance of any of the covenants
or conditions of this Lease, Landlord may proceed directly against Tenant without the necessity of exhausting remedies against said subtenant, assignee or successor. After any assignment, Landlord may consent to subsequent assignments or subletting
of this Lease, or amendments or modifications of this Lease with assignees of Tenant, without notifying Tenant, or any successor of Tenant, and without obtaining its or their consent thereto, and such action shall not relieve Tenant or any successor
of Tenant of liability under this Lease. If Landlord grants consent to such sublease or assignment, Tenant shall pay all reasonable attorneys’ fees and expenses incurred by Landlord with respect to such assignment or sublease. In addition, if
Tenant has any options to extend the term of this Lease or 

  

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to add other space to the Premises, such options shall not be available to any subtenant or assignee, directly or indirectly without Landlord’s express
written consent, which may be withheld in Landlord’s sole discretion. 
  

	10.05	ASSUMPTION AND ATTORNMENT 

 If Tenant shall assign this
Lease as permitted herein, the assignee shall expressly assume all of the obligations of Tenant hereunder in a written instrument satisfactory to Landlord and furnished to Landlord not later than fifteen (15) days prior to the effective date of
the assignment. If Tenant shall sublease the Premises as permitted herein, Tenant shall, at Landlord’s option, within fifteen (15) days following any request by Landlord, obtain and furnish to Landlord the written agreement of such
subtenant to the effect that the subtenant will attorn to Landlord and will pay all subrent directly to Landlord. 
 ARTICLE ELEVEN

 DEFAULT AND REMEDIES 
  

	11.01	EVENTS OF DEFAULT 

 The occurrence or existence of any one
or more of the following shall constitute a “Default” by Tenant under this Lease: 
 (i) Tenant fails to pay any
installment or other payment of Rent including Rent Adjustment Deposits or Rent Adjustments within three (3) days after the date when due; 
 (ii) Tenant fails to observe or perform any of the other covenants, conditions or provisions of this Lease or the Workletter and fails to cure such default within thirty (30) days after written notice thereof to
Tenant, unless the default involves a hazardous condition, which shall be cured forthwith or unless the failure to perform is a Default for which this Lease specifies there is no cure or grace period; 
 (iii) the interest of Tenant in this Lease is levied upon under execution or other legal process; 
 (iv) a petition is filed by or against Tenant to declare Tenant bankrupt or seeking a plan of reorganization or arrangement under any
Chapter of the Bankruptcy Act, or any amendment, replacement or substitution therefor, or to delay payment of, reduce or modify Tenant’s debts, which in the case of an involuntary action is not discharged within thirty (30) days;

 (v) Tenant is declared insolvent by Law or any assignment of Tenant’s property is made for the benefit of creditors;

 (vi) a receiver is appointed for Tenant or Tenant’s property, which appointment is not discharged within thirty
(30) days; 
  

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 (vii) any action taken by or against Tenant to reorganize or modify Tenant’s capital
structure in a materially adverse way which in the case of an involuntary action is not discharged within thirty (30) days; 
 (viii) upon the dissolution of Tenant; or 
 (ix) upon the third occurrence within any Lease Year that Tenant fails
to pay Rent when due or has breached a particular covenant of this Lease (whether or not such failure or breach is thereafter cured within any stated cure or grace period or statutory period). 
  

	11.02	LANDLORD’S REMEDIES 

 (a) A Default shall constitute a
breach of the Lease for which Landlord shall have the rights and remedies set forth in this Section 11.02 and all other rights and remedies set forth in this Lease or now or hereafter allowed by Law, whether legal or equitable, and all rights
and remedies of Landlord shall be cumulative and none shall exclude any other right or remedy. 
 (b) With respect to a Default, at any time
Landlord may terminate Tenant’s right to possession by written notice to Tenant stating such election. Any written notice required pursuant to Section 11.01 shag constitute notice of unlawful detainer pursuant to California Code of Civil
Procedure Section 1161 if at Landlord’s sole discretion, it states Landlord’s election that Tenant’s right to possession is terminated after expiration of any period required by Law or any longer period required by
Section 11.01. Upon the expiration of the period stated in Landlord’s written notice of termination (and unless such notice provides an option to cure within such period and Tenant cures the Default within such period), Tenant’s right
to possession shall terminate and this Lease shall terminate, and Tenant shall remain liable as hereinafter provided. Upon such termination in writing of Tenant’s right to possession, Landlord shall have the right, subject to applicable Law, to
re-enter the Premises and dispossess Tenant and the legal representatives of Tenant and all other occupants of the Premises by unlawful detainer or other summary proceedings, or otherwise as permitted by Law, regain possession of the Premises and
remove their property (including their trade fixtures, personal property and those Tenant Additions which Tenant is required or permitted to remove under Article Twelve), but Landlord shall not be obligated to effect such removal, and such property
may, at Landlord’s option, be stored elsewhere, sold or otherwise dealt with as permitted by Law, at the risk of, expense of and for the account of Tenant, and the proceeds of any sale shall be applied pursuant to Law. Landlord shall in no
event be responsible for the value, preservation or safekeeping of any such property. Tenant hereby waives all claims for damages that may be caused by Landlord’s removing or storing Tenant’s personal property pursuant to this Section or
Section 12.01, and Tenant hereby indemnifies, and agrees to defend, protect and hold harmless, the Indemnitees from any and all loss, claims, demands, actions, expenses, liability and cost (including attorneys’ fees and expenses) arising
out of or in any way related to such removal or storage. Upon such written termination of Tenant’s right to possession and this Lease, Landlord shall have the right to recover damages for Tenants Default as provided below: 
 (1) the worth at the time of award of the unpaid Rent which had been earned at the time of termination; 
  

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 (2) the worth at the time of award of the amount by which the unpaid Rent which would have been earned
after termination until the time of award exceeds the amount of such Rent loss that Tenant proves could reasonably have been avoided; 
 (3)
the worth at the time of award of the amount by which the unpaid Rent for the balance of the term of this Lease after the time of award exceeds the amount of such Rent loss that Tenant proves could be reasonably avoided; and 
 (4) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under
this Lease or which in the ordinary course of things would be likely to result therefrom. The word *rent’ as used in this Section 11.02 shall have the same meaning as the defined term Rent in this Lease. The *worth at the time of award* of
the amount referred to in clauses (1) and (2) above is computed by allowing interest at the Default Rate. The worth at the time of award of the amount referred to in clause (3) above is computed by discounting such amount at the
discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). For the purpose of determining unpaid Rent under clause (3) above, the monthly Rent reserved in this Lease shall be deemed to be the sum of
the Monthly Base Rent, and monthly Storage Space Rent, if any, and the amounts last payable by Tenant as Rent Adjustments for the calendar year in which Landlord terminated this Lease as provided hereinabove. 
 (c) Even if Tenant is in Default and/or has abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate
Tenant’s right to possession by written notice as provided in Section 11.02(b) above, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover Rent as it becomes due under this Lease. In such
event, Landlord shall have all of the rights and remedies of a landlord under California Civil Code Section 1951.4 (lessor may continue Lease in effect after Tenant’s Default and abandonment and recover Rent as it becomes due, if Tenant
has the right to sublet or assign, subject only to reasonable limitations), or any successor statute. During such time as Tenant is in Default, if Landlord has not terminated this Lease by written notice and if Tenant requests Landlord’s
consent to an assignment of this Lease or a sublease of the Premises, subject to Landlord’s option to recapture pursuant to Section 10.02, Landlord shall not unreasonably withhold its consent to such assignment or sublease. Tenant
acknowledges and agrees that the provisions of Article Ten shall be deemed to constitute reasonable limitations of Tenant’s right to assign or sublet. Tenant acknowledges and agrees that in the absence of written notice pursuant to
Section 11.02(b) above terminating Tenant’s right to possession, no other act of Landlord shall constitute a termination of Tenant’s right to possession or an acceptance of Tenant’s surrender of the Premises, including acts of
maintenance or preservation or efforts to relet the Premises or the appointment of a receiver upon initiative of Landlord to protect Landlord’s interest under this Lease or the withholding of consent to a subletting or assignment, or
terminating a subletting or assignment, if in accordance with other provisions of this Lease. 
  

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 (d) In the event that Landlord seeks an injunction with respect to a breach or threatened breach by
Tenant of any of the covenants, conditions or provisions of this Lease, Tenant agrees to pay the premium for any bond required in connection with such injunction. 
 (e) Tenant hereby waives any and all rights to relief from forfeiture, redemption or reinstatement granted by Law (including California Civil Code of Procedure Sections 1174 and 1179) in the event of Tenant being
evicted or dispossessed for any cause or in the event of Landlord obtaining possession of the Premises by reason of Tenant’s Default or otherwise; 
 (f) When this Lease requires giving or service of a notice, that notice shall replace rather than supplement any equivalent or similar statutory notice, including any equivalent or similar notices required by
California Code of Civil Procedure Section 1161 or any similar or successor statute. When a statute requires service of a notice in a particular manner, service of that notice (or a similar notice required by this Lease) in the manner required
by Article Twenty-four shall replace and satisfy the statutory service—of—notice procedures, including those required by Code of Civil Procedure section 1162 or any similar or successor statute. 
 (g) The voluntary or other surrender or termination of this Lease, or a mutual termination or cancellation thereof, shall not work a merger and shall
terminate all or any existing assignments, subleases, subtenancies or occupancies permitted by Tenant, except if and as otherwise specified in writing by Landlord. 
 (h) No delay or omission in the exercise of any right or remedy of Landlord upon any default by Tenant, and no exercise by Landlord of its rights pursuant to Section 26.15 to perform any duty which Tenant fails
timely to perform, shall impair any right or remedy or be construed as a waiver. No provision of this Lease shall be deemed waived by Landlord unless such waiver is in a writing signed by Landlord. The waiver by Landlord of any breach of any
provision of this Lease shall not be deemed a waiver of any subsequent breach of the same or any other provision of this Lease. 
  

	11.03	ATTORNEY’S FEES 

 In the event any party brings any
suit or other proceeding with respect to the subject matter or enforcement of this Lease, the prevailing party (as determined by a final, non-appealable judgment by the court, agency or other authority before which such suit or proceeding is
commenced) shall, in addition to such other relief as may be awarded, be entitled to recover attorneys’ fees, expenses and costs of investigation as actually incurred, including court costs, expert witness fees, costs and expenses of
investigation, and all attorneys’ fees, costs and expenses in any such suit or proceeding (including in any action or participation in or in connection with any case or proceeding under the Bankruptcy Code, 11 United States Code Sections 101 el

  

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or any successor statutes, in establishing or enforcing the right to indemnification, in appellate proceedings, or in connection with the enforcement or
collection of any judgment obtained in any such suit or proceeding). 
  

	11.04	BANKRUPTCY 

 The following provisions shall apply in the
event of the bankruptcy or insolvency of Tenant: 
 (a) In connection with any proceeding under Chapter 7 of the Bankruptcy Code where the
trustee of Tenant elects to assume this Lease for the purposes of assigning it, such election or assignment, may only be made upon compliance with the provisions of (b) and (c) below, which conditions Landlord and Tenant acknowledge to be
commercially reasonable. In the event the trustee elects to reject this Lease then Landlord shall immediately be entitled to possession of the Premises without further obligation to Tenant or the trustee. 
 (b) Any election to assume this Lease under Chapter 11 or 13 of the Bankruptcy Code by Tenant as debtor-in-possession or by Tenant’s trustee (the
“Electing Party”) must provide for. 
 The Electing Party to cure or provide to Landlord adequate assurance that it will cure all
monetary defaults under this Lease within fifteen (15) days from the date of assumption and it will cure all nonmonetary defaults under this Lease within thirty (30) days from the date of assumption. Landlord and Tenant acknowledge such
condition to be commercially reasonable. 
 (c) If the Electing Party has assumed this Lease or elects to assign Tenant’s interest under
this Lease to any other person, such interest may be assigned only if the intended assignee has provided adequate assurance of future performance (as herein defined), of all of the obligations imposed on Tenant under this Lease. 
 For the purposes hereof, “adequate assurance of future performance” means that Landlord has ascertained that each of the following conditions
has been satisfied: 
 (i) The assignee has submitted a current financial statement, certified by its chief financial
officer, which shows a net worth and working capital in amounts sufficient to assure the future performance by the assignee of Tenant’s obligations under this Lease; and 
 (ii) Landlord has obtained consents or waivers from any third parties which may be required under a lease, mortgage, financing
arrangement, or other agreement by which Landlord is bound, to enable Landlord to permit such assignment 
 (d) Landlord’s acceptance of
rent or any other payment from any trustee, receiver, assignee, person, or other entity will not be deemed to have waived, or waive, the 

  

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requirement of Landlord’s consent, Landlord’s right to terminate this Lease for any transfer of Tenant’s interest under this Lease without
such consent, or Landlord’s claim for any amount of Rent due from Tenant. 
  

	11.05	LANDLORD’S DEFAULT 

 Landlord shall be in default
hereunder in the event Landlord has not begun and pursued with reasonable diligence the cure of any failure of Landlord to meet its obligations hereunder within thirty (30) days after the receipt by Landlord of written notice from Tenant of the
alleged failure to perform. In no event shall Tenant have the right to terminate or rescind this Lease as a result of Landlord’s default as to any covenant or agreement contained in this Lease. Tenant hereby waives such remedies of termination
and rescission and hereby agrees that Tenant’s remedies for default hereunder and for breach of any promise or inducement shall be limited to a suit for damages and/or injunction. In addition, Tenant hereby covenants that, prior to the exercise
of any such remedies, it will give Mortgagee notice and a reasonable time to cure any default by Landlord as set forth in Section 23.02. 
 ARTICLE TWELVE 
 SURRENDER OF PREMISES 
  

	12.01	IN GENERAL 

 Upon the Termination Date, Tenant shall
surrender and vacate the Premises immediately and deliver possession thereof to Landlord in a clean, good and tenantable condition, ordinary wear and tear, and damage caused by Landlord excepted. Tenant shall deliver to Landlord all keys to the
Premises. Tenant shall remove from the Premises all of Tenant’s Personal Property, including, subject to Section 6.04, cabling for any of the foregoing; however, Tenant shall not be entitled to remove any of Tenant’s Improvements.
Additionally, Tenant shall be entitled to remove all such Tenant Additions which at the time of their installation Landlord and Tenant agreed may be removed by Tenant Tenant shall also remove such other Tenant Additions as required by Landlord,
including any Tenant Additions containing Hazardous Material. In addition, Tenant shall, if requested by Landlord prior to the Termination Date, remove the 125 KVA ONAN emergency generator and the 2 door Hazardous Material Container listed forth on
Exhibit E attached hereto. Tenant immediately shall repair all damage resulting from removal of any of Tenant’s property, furnishings or Tenant Additions, shall close all floor, ceiling and roof openings and shall restore the Premises to a
tenantable condition as reasonably determined by Landlord. If any of the Tenant Additions which were installed by Tenant involved the lowering of ceilings, raising of floors or the installation of specialized wall or floor coverings or lights, then
Tenant shall also be obligated to return such surfaces to their condition prior to the commencement of this Lease. In the event possession of the Premises is not delivered to Landlord when required hereunder, or if Tenant shall fail to remove those
items described above, Landlord may (but shall not be obligated to), at Tenant’s expense, remove any of such property and store, sell or otherwise deal with such property as provided in Section 11.02(b), including the waiver and indemnity
obligations provided in that Section, and undertake, at Tenant’s expense, such restoration work as Landlord deems necessary or advisable. 
  

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	12.02	LANDLORDS RIGHTS 

 All property which may be removed from
the Premises by Landlord shall be conclusively presumed to have been abandoned by Tenant and Landlord may deal with such property as provided in Section 11.02(b), including the waiver and indemnity obligations provided in that Section. Tenant
shall also reimburse Landlord for all costs and expenses incurred by Landlord in removing any of Tenants Personal Property not removed by Tenant pursuant to the provisions of Sections 11.02(b) or 12.01 and/or the Tenant Additions and in restoring
the Premises to the condition required by this Lease at the Termination Date. 
 ARTICLE THIRTEEN 
 HOLDING OVER 
 Tenant shall pay Landlord the
greater of (i) 150% of the monthly Rent payable for the month immediately preceding the holding over (including increases for Rent Adjustments which Landlord may reasonably estimate) or, (ii) 150% of the fair market rental value of the
Premises as reasonably determined by Landlord for each month or portion thereof that Tenant retains possession of the Premises, or any portion thereof, after the Termination Date (without reduction for any partial month that Tenant retains
possession). Tenant shall also pay all damages sustained by Landlord by reason of such retention of possession. The provisions of this Article shall not constitute a waiver by Landlord of any re-entry rights of Landlord and Tenant’s continued
occupancy of the Premises shall be as a tenancy in sufferance. 
 ARTICLE FOURTEEN 
 DAMAGE BY FIRE OR OTHER CASUALTY 
  

	14.01	SUBSTANTIAL UNTENANTABILITY 

 (a) If any fire or other
casualty (whether insured or uninsured) renders all or a substantial portion of the Premises or the Building untenantable, Landlord shall, with reasonable promptness after the occurrence of such damage, estimate the length of time that will be
required to substantially complete the repair and restoration and shall by notice advise Tenant of such estimate (“Landlord’s Notice”). If Landlord estimates that the amount of time required to substantially complete such repair and
restoration will exceed one hundred eighty (180) days from the date such damage occurred, then Landlord, if Landlord is concurrently terminating the leases of all other tenants in the Building that the Premises are located, or Tenant, if all or
a substantial portion of the Premises is rendered untenantable, shall have the right to terminate this Lease as of the date of such damage upon giving written notice to the other at any time within thirty (30) days after delivery of
Landlord’s Notice, provided that if Landlord so chooses, Landlords Notice may also constitute such notice of termination. In addition, if such damage is to the Premises and occurs during the last twelve (12) months of the Term, either
Tenant or Landlord shall have the right to terminate this Lease as of the date of such casualty by giving written notice thereof to the other within thirty (30) days after the date of such casualty. 
 (b) In the event that the Building is damaged or destroyed to the extent of more than twenty-five percent (25%) of its replacement cost or to any
extent if no insurance proceeds or insufficient insurance proceeds are receivable by Landlord, or if the buildings at the 

  

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Project shall be damaged to the extent of fifty percent (50%) or more of the replacement value or to any extent if no insurance proceeds or insufficient
insurance proceeds are receivable by Landlord, and regardless of whether or not the Premises be damaged, Landlord may elect by written notice to Tenant given within thirty (30) days after the occurrence of the casualty to terminate this Lease
in lieu of so restoring the Premises, in which event this Lease shall terminate as of the date specified in Landlord’s notice, which date shall be no later than sixty (60) days following the date of Landlord’s notice. 
 (c) Unless this Lease is terminated as provided in the preceding Subsections 14.01 (a) and (b), Landlord shall proceed with reasonable promptness to
repair and restore the Premises to its condition as existed prior to such casualty, subject to reasonable delays for insurance adjustments and Force Majeure delays, and also subject to zoning Laws and building codes then in effect. Landlord shall
have no Debility to Tenant, and Tenant shall not be entitled to terminate this Lease if such repairs and restoration are not in fact completed within the time period estimated by Landlord so long as Landlord shall proceed with reasonable diligence
to complete such repairs and restoration. 
 (d) Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance
coverage, whether carried by Landlord or Tenant, for damages to the Premises, except for those proceeds of Tenant’s insurance of its own personal property, trade fixtures and equipment which would be removable by Tenant at the Termination Date.
All such insurance proceeds relating to damage to the Premises shall be payable to Landlord whether or not the Premises are to be repaired and restored, provided, however, if this Lease is not terminated and the parties proceed to repair and restore
Tenant Additions at Tenant’s cost, to the extent Landlord received proceeds of Tenant’s insurance covering Tenant Additions, such proceeds shall be applied to reimburse Tenant for its cost of repairing and restoring Tenant Additions.

 (e) Notwithstanding anything in this Article Fourteen to the contrary: (i) Landlord shall have no duty pursuant to this Section to
repair or restore any portion of any Tenant Additions or to expend for any repair or restoration of the Premises or Building amounts in excess of insurance proceeds paid to Landlord and available for repair or restoration; and (ii) Tenant shall
not have the right to terminate this Lease pursuant to this Section if any damage or destruction was caused by the act or neglect of Tenant, its agent or employees. Whether or not the Lease is terminated pursuant to this Article Fourteen, in no
event shall Tenant be entitled to receive from Landlord any compensation or damages for loss of the use of the whole or any part of the Premises or for any inconvenience or annoyance occasioned by any such damage, destruction, rebuilding or
restoration of the Premises or the Building or access thereto. 
 (f) Any repair or restoration of the Premises performed by Tenant shall be
in accordance with the provisions of Article Nine hereof. 
  

	14.02	INSUBSTANTIAL UNTENANTABILITY 

 Unless this Lease is
terminated as provided in the preceding Subsections 14.01 (a) and (b), then Landlord shall proceed to repair and restore the Building or the Premises other than Tenant Additions, with reasonable promptness, unless such damage is to the Premises
and occurs 

  

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during the last six (6) months of the Term, in which event either Tenant or Landlord shall have the right to terminate this Lease as of the date of such
casualty by giving written notice thereof to the other within thirty (30) days after the date of such casualty. Notwithstanding the foregoing, Landlord’s obligation to repair shall be limited in accordance with the provisions of
Section 14.01 above. 
  

	14.03	RENT ABATEMENT 

 Except for the negligence or willful act
of Tenant or its agents, employees, contractors or invitees, if all or any part of the Premises are rendered untenantable by fire or other casualty and this Lease is not terminated, Monthly Base Rent and Rent Adjustments shall abate for that part of
the Premises which is untenantable on a per diem basis from the date of the casualty until thirty (30) days after Landlord has Substantially Completed the repair and restoration work in the Premises which it is required to perform, provided,
that as a result of such casualty, Tenant does not occupy the portion of the Premises which is untenantable during such period. 
  

	14.04	WAIVER OF STATUTORY REMEDIES 

 The provisions of this
Lease, including this Article Fourteen, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, the Premises or the Property or any part of either, and any Law, including Sections
1932(2), 1933(4), 1941 and 1942 of the California Civil Code, with respect to any rights or obligations concerning damage or destruction shall have no application to this Lease or to any damage to or destruction of all or any part of the Premises or
the Property or any part of either, and are hereby waived. 
 ARTICLE FIFTEEN 
 EMINENT DOMAIN 
  

	15.01	TAKING OF WHOLE OR SUBSTANTIAL PART 

 In the event the
whole or any substantial part of the Building or of the Premises is taken or condemned by any competent authority for any public use or purpose (including a deed given in lieu of condemnation) and is thereby rendered untenantable, this Lease shall
terminate as of the date title vests in such authority or any earlier date on which possession is required to be surrendered to such authority, and Monthly Base Rent and Rent Adjustments shall be apportioned as of the Termination Date. Further, if
at least twenty-five percent (25%) of the rentable area of the Project is taken or condemned by any competent authority for any public use or purpose (including a deed given in lieu of condemnation), and regardless of whether or not the
Premises be so taken or condemned, Landlord may elect by written notice to Tenant to terminate this Lease as of the date tile vests in such authority or any earlier date on which possession is required to be surrendered to such authority, and
Monthly Base Rent and Rent Adjustments shall be apportioned as of the Termination Date. Landlord may, without any obligation to Tenant, agree to sell or convey to the taking authority the Premises, the Building, Tenant’s Phase, the Project or
any portion thereof sought by the taking authority, free from this Lease and the right of Tenant hereunder, without first requiring that any action or proceeding be instituted or, if instituted, pursued to a judgment. Notwithstanding anything to the
contrary herein set forth, in 

  

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the event the taking of the Building or Premises is temporary (for less than the remaining term of the Lease), Landlord may elect either (i) to
terminate this Lease or (ii) permit Tenant to receive the entire award attributable to the Premises in which case Tenant shall continue to pay Rent and this Lease shall not terminate. 
  

	15.02	TAKING OF PART 

 In the event a part of the Building or the
Premises is taken or condemned by any competent authority (or a deed is delivered in lieu of condemnation) and this Lease is not terminated, the Lease shall be amended to reduce or increase, as the case may be, the Monthly Base Rent and
Tenant’s Share to reflect Tenant’s Rentable Area of the Premises or Building, as the case may be, remaining after any such taking or condemnation. Landlord, upon receipt and to the extent of the award in condemnation (or proceeds of sale)
shall make necessary repairs and restorations to the Premises (exclusive of Tenant Additions) and to the Building to the extent necessary to constitute the portion of the Building not so taken or condemned as a complete architectural and
economically efficient unit Notwithstanding the foregoing, if as a result of any taking, or a governmental order that the grade of any street or alley adjacent to the Building is to be changed and such taking or change of grade makes it necessary or
desirable to substantially remodel or restore the Building or prevents the economical operation of the Building, Landlord shall have the right to terminate this Lease upon ninety (90) days prior written notice to Tenant. 
  

	15.03	COMPENSATION 

 Landlord shall be entitled to receive the
entire award (or sale proceeds) from any such taking, condemnation or sale without any payment to Tenant, and Tenant hereby assigns to Landlord Tenant’s interest, if any, in such award; provided, however, Tenant shall have the right separately
to pursue against the condemning authority a separate award in respect of the loss, if any, to Tenant Additions paid for by Tenant without any credit or allowance from Landlord, for fixtures or personal property of Tenant, or for relocation or
business interruption expenses, so long as there is no diminution of Landlord’s award as a result 
 ARTICLE SIXTEEN 
 INSURANCE 
  

	16.01	TENANTS INSURANCE 

 Tenant, at Tenant’s expense,
agrees to maintain in force, with a company or companies acceptable to Landlord, during the Term: (a) Commercial General Liability Insurance on a primary basis and without any right of contribution from any insurance carried by Landlord
covering the Premises on an occurrence basis against all claims for personal injury, bodily injury, death and property damage, including contractual liability covering the indemnification provisions in this Lease. Such insurance shall be for such
limits that are reasonably required by Landlord from time to time but not less than a combined single limit of Five Million and No/100 Dollars ($5,000,000.00); (b) Workers’ Compensation and Employers’ Liability Insurance to the extent
required by and in accordance with the Laws of the State of California; (c) “All Risks” property insurance in an amount adequate to cover the full replacement cost of all Tenant Additions to the Premises, equipment, installations,
fixtures and contents of the Premises in the 

  

 45 

 
event of loss; (d) In the event a motor vehicle is to be used by Tenant in connection with its business operation from the Premises, Comprehensive
Automobile Liability Insurance coverage with limits of not less than Three Million and No/100 Dollars ($3,000,000.00) combined single limit coverage against bodily injury liability and property damage liability arising out of the use by or on behalf
of Tenant, its agents and employees in connection with this Lease, of any owned, non-owned or hired motor vehicles; and (e) such other insurance or coverages as Landlord reasonably requires. 
  

	16.02	FORM OF POLICIES 

 Each policy referred to in 16.01 shall
satisfy the following requirements. Each policy shall (i) name Landlord and the Indemnitees as additional insureds (except Workers’ Compensation and Employers’ Liability Insurance), (ii) be issued by one or more responsible
insurance companies licensed to do business in the State of California reasonably satisfactory to Landlord, (iii) where applicable, provide for deductible amounts satisfactory to Landlord and not permit co-insurance, (iv) shall provide
that such insurance may not be canceled or amended without thirty (30) days’ prior written notice to the Landlord, and (v) each poky of “All- Risks’ property insurance shall provide that the policy shall not be invalidated
should the insured waive in writing prior to a loss, any or all rights of recovery against any other party for losses covered by such policies. Tenant shall deliver to Landlord, certificates of insurance and at Landlord’s request, copies of all
policies and renewals thereof to be maintained by Tenant hereunder, not less than ten (10) days prior to the Commencement Date and not less than ten (10) days prior to the expiration date of each policy. 
  

	16.03	LANDLORD’S INSURANCE 

 Landlord agrees to purchase and
keep in full force and effect during the Term hereof, including any extensions or renewals thereof, insurance under policies issued by insurers of recognized responsibility, qualified to do business in the State of California on the Building in
amounts not less than the greater of eighty (80%) percent of the then full replacement cost (without depreciation) of the Building (above foundations and excluding Tenant Additions to the Premises) or an amount sufficient to prevent Landlord
from becoming a co-insurer under the terms of the applicable policies, against fire and such other risks as may be included in standard forms of all risk coverage insurance reasonably available from time to time. Landlord agrees to maintain in force
during the Term, Commercial General Liability Insurance covering the Building on an occurrence basis against all claims for personal injury, bodily injury, death and property damage. Such insurance shall be for a combined single limit of Five
Million and No/100 Dollars ($5,000,000.00). Neither Landlord’s obligation to carry such insurance nor the carrying of such insurance shall be deemed to be an indemnity by Landlord with respect to any claim, liability, loss, cost or expense due,
in whole or in part, to Tenant’s negligent acts or omissions or willful misconduct. Without obligation to do so, Landlord may, in its sole discretion from time to time, carry insurance in amounts greater and/or for coverage additional to the
coverage and amounts set forth above. 
  

 46 

	16.04	WAIVER OF SUBROGATION 

 (a) Landlord agrees that, if
obtainable at no, or minimal, additional cost, and so long as the same is permitted under the laws of the State of California, it will include in its “All Risks” policies appropriate clauses pursuant to which the insurance companies
(i) waive all right of subrogation against Tenant with respect to losses payable under such policies and/or (ii) agree that such policies shall not be invalidated should the insured waive in writing prior to a loss any or all right of
recovery against any party for losses covered by such policies. 
 (b) Tenant agrees to include, if obtainable at no, or minimal, additional
cost, and so long as the same is permitted under the laws of the State of California, in its “All Risks” insurance policy or policies on Tenant Additions to the Premises, whether or not removable, and on Tenant’s furniture,
furnishings, fixtures and other property removable by Tenant under the provisions of this Lease appropriate clauses pursuant to which the insurance company or companies (i) waive the right of subrogation against Landlord and/or any tenant of
space in the Building with respect to losses payable under such policy or policies and/or (Ii) agree that such policy or policies shall not be invalidated should the insured waive in writing prior to a loss any or all right of recovery against any
party for losses covered by such policy or policies. If Tenant is unable to obtain in such policy or policies either of the clauses described in the preceding sentence, Tenant shall, if legally possible and without necessitating a change in
insurance carriers, have Landlord named in such policy or policies as an additional insured. If Landlord shall be named as an additional insured in accordance with the foregoing, Landlord agrees to endorse promptly to the order of Tenant, without
recourse, any check, draft, or order for the payment of money representing the proceeds of any such policy or representing any other payment growing out of or connected with said policies, and Landlord does hereby irrevocably waive any and all
rights in and to such proceeds and payments. 
 (c) Provided that Landlord’s right of full recovery under its policy or policies
aforesaid is not adversely affected or prejudiced thereby, Landlord hereby waives any and all right of recovery which it might otherwise have against Tenant, its servants, agents and employees, for loss or damage occurring to the Real Property and
the fixtures, appurtenances and equipment therein, except Tenant Additions, to the extent the same is covered by Landlord’s insurance, notwithstanding that such loss or damage may result from the negligence or fault of Tenant, its servants,
agents or employees. Provided that Tenant’s right of full recovery under its aforesaid policy or policies is not adversely affected or prejudiced thereby, Tenant hereby waives any and all right of recovery which it might otherwise have against
Landlord, its servants, and employees and against every other tenant in the Real Property who shall have executed a similar waiver as set forth in this Section 16.04 (c) for loss or damage to Tenant Additions, whether or not removable, and
to Tenant’s furniture, furnishings, fixtures and other property removable by Tenant under the provisions hereof to the extent the same is covered or coverable by Tenant’s insurance required under this Lease, notwithstanding that such loss
or damage may result from the negligence or fault of Landlord, its servants, agents or employees, or such other tenant and the servants, agents or employees thereof. 
 (d) Landlord and Tenant hereby agree to advise the other promptly if the clauses to be included in their respective insurance policies pursuant to subparagraphs (a) and (b) above cannot be obtained on the
terms hereinbefore provided and thereafter to furnish the other 

  

 47 

 
with a certificate of insurance or copy of such policies showing the naming of the other as an additional insured, as aforesaid. Landlord and Tenant hereby
also agree to notify the other promptly of any cancellation or change of the terms of any such policy which would affect such clauses or naming. All such policies which name both Landlord and Tenant as additional insureds shall, to the extent
obtainable, contain agreements by the insurers to the effect that no act or omission of any additional insured will invalidate the policy as to the other additional insureds. 
  

	16.05	NOTICE OF CASUALTY 

 Tenant shall give Landlord notice in
case of a fire or accident in the Premises promptly after Tenant is aware of such event. 
 ARTICLE SEVENTEEN 
 WAIVER OF CLAIMS AND INDEMNITY 
  

	17.01	WAIVER OF CLAIMS 

 To the extent permitted by Law, Tenant
releases the Indemnitees from, and waives all claims for, damage to person or property sustained by the Tenant or any occupant of the Premises or the Property resulting directly or indirectly from any existing or future condition, defect, matter or
thing in and about the Premises or the Property or any part of either or any equipment or appurtenance therein, or resulting from any accident in or about the Premises or the Property, or resulting directly or indirectly from any act or neglect of
any tenant or occupant of the Property or of any other person, including Landlord’s agents and servants, except to the extent caused by the gross negligence or willful and wrongful act of any of the Indemnitees. To the extent permitted by Law,
Tenant hereby waives any consequential damages, compensation or claims for inconvenience or loss of business, rents, or profits as a result of such injury or damage, whether or not caused by the willful and wrongful act of any of the Indemnitees. If
any such damage, whether to the Premises or the Property or any part of either, or whether to Landlord or to other tenants in the Property, results from any act or neglect of Tenant, its employees, servants, agents, contractors, invitees or
customers, Tenant shall be liable therefor and Landlord may, at Landlord’s option, repair such damage and Tenant shall, upon demand by Landlord, as payment of additional Rent hereunder, reimburse Landlord within ten (10) days of demand for
the total cost of such repairs, in excess of amounts, if any, paid to Landlord under insurance covering such damages. Tenant shall not be liable for any such damage caused by its acts or neglect if Landlord or a tenant has recovered the full amount
of the damage from proceeds of insurance policies and the insurance company has waived its right of subrogation against Tenant 
  

	17.02	INDEMNITY BY TENANT 

 To the extent permitted by Law,
Tenant hereby indemnifies, and agrees to protect, defend and hold the Indemnitees harmless, against any and all actions, claims, demands, liability, costs and expenses, including attorneys’ fees and expenses for the defense thereof, arising
from Tenant’s occupancy of the Premises, from the undertaking of any Tenant Additions or repairs to the Premises, from the conduct of Tenant’s business on the Premises, or from any breach or 

  

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default on the part of Tenant in the performance of any covenant or agreement on the part of Tenant to be performed pursuant to the terms of this Lease, or
from any willful act or negligence of Tenant, its agents, contractors, servants, employees, customers or invitees, in or about the Premises or the Property or any part of either. In case of any action or proceeding brought against the Indemnitees by
reason of any such claim, upon notice from Landlord, Tenant covenants to defend such action or proceeding by counsel chosen by Landlord, in Landlord’s sole discretion. Landlord reserves the right to settle, compromise or dispose of any and all
actions, claims and demands related to the foregoing indemnity. The foregoing indemnity shall not operate to relieve Indemnitees of liability to the extent such liability is caused by the gross negligence or willful and wrongful act of Indemnitees.
Further, the foregoing indemnity is subject to and shall not diminish any waivers in effect in accordance with Section 16.04 by Landlord or its insurers to the extent of amounts, if any, paid to Landlord under its “All-Risks” property
insurance. 
 Any indemnification, exculpation or waiver provisions under this Article Seventeen shall not be deemed to exculpate or
indemnify Landlord against its own negligence or that of its agents, or servants or employees. 
 ARTICLE EIGHTEEN 
 RULES AND REGULATIONS 
  

	18.01	RULES 

 Tenant agrees for itself and for its subtenants,
employees, agents, and invitees to comply with all rules and regulations for use of the Premises, the Building, the Phase and the Project imposed by Landlord, as the same may be revised from time to time, so long as a copy of such rules and
regulations are delivered to Tenant, including the following: (a) Tenant shall comply with all of the requirements of Landlord’s emergency response plan, as the same may be amended from time to time; and (b) Tenant shall not place any
furniture, furnishings, fixtures or equipment in the Premises in a manner so as to obstruct the windows of the Premises to cause the Building, in Landlord’s good faith determination, to appear unsightly from the exterior. Such rules and
regulations are and shall be imposed for the cleanliness, good appearance, proper maintenance, good order and reasonable use of the Premises, the Building, the Phase and the Project and as may be necessary for the enjoyment of the Building and the
Project by all tenants and their clients, customers, and employees. 
  

	18.02	ENFORCEMENT 

 Nothing in this Lease shall be construed to
impose upon the Landlord any duty or obligation to enforce the rules and regulations as set forth above or as hereafter adopted, or the terms, covenants or conditions of any other lease as against any other tenant, and the Landlord shall not be
liable to the Tenant for violation of the same by any other tenant, its servants, employees, agents, visitors or licensees. Landlord shall use reasonable efforts to enforce the rules and regulations of the Building in a uniform and
non-discriminatory manner. 
  

 49 

 ARTICLE NINETEEN 
 LANDLORD’S RESERVED RIGHTS 
 Landlord shall have the following rights exercisable without notice to
Tenant and without liability to Tenant for damage or injury to persons, property or business and without being deemed an eviction or disturbance of Tenant’s use or possession of the Premises or giving rise to any claim for offset or abatement
of Rent (1) to change the Building’s name or street address upon thirty (30) days’ prior written notice to Tenant; (2) to install, affix and maintain all signs on the exterior and/or interior of the Building; (3) to
designate and/or approve prior to installation, all types of signs, window shades, blinds, drapes, awnings or other similar items, and all internal lighting that may be visible from the exterior of the Premises; (4) upon reasonable notice to
Tenant, to display the Premises to prospective purchasers at reasonable hours at any time during the Term and to prospective tenants at reasonable hours during the last twelve (12) months of the Term; (5) to grant to any party the
exclusive right to conduct any business or render any service in or to the Building, provided such exclusive right shall not operate to prohibit Tenant from using the Premises for the purpose permitted hereunder; (6) to change the arrangement
and/or location of entrances or passageways, doors and doorways, corridors, elevators, stairs, washrooms or public portions of the Building, and to close entrances, doors, corridors, elevators or other facilities, provided that such action shall not
materially and adversely interfere with Tenants access to the Premises or the Building; and (7) to have access for Landlord and other tenants of the Building to any mail chutes and boxes located in or on the Premises as required by any
applicable rules of the United States Post Office. 
 ARTICLE TWENTY 
 ESTOPPEL CERTIFICATE 
  

	20.01	IN GENERAL 

 Within fifteen (15) days after request
therefor by Landlord, Mortgagee or any prospective mortgagee or owner, Tenant agrees as directed in such request to execute an Estoppel Certificate in reasonable form, binding upon Tenant, certifying (i) that this Lease is unmodified and in
full force and effect (or if there have been modifications, a description of such modifications and that this Lease as modified is in full force and effect); (ii) the dates to which Rent has been paid; (iii) that Tenant is in the
possession of the Premises if that is the case; (iv) to Tenants knowledge, that Landlord is not in default under this Lease, or, if Tenant believes Landlord is in default, the nature thereof in detail; (v) to Tenants knowledge, that Tenant
has no offsets or defenses to the performance of its obligations under this Lease (or if Tenant believes there are any offsets or defenses, a full and complete explanation thereof); (vi) that the Premises have been completed in accordance with
the terms and provisions hereof, that Tenant has accepted the Premises and the condition thereof and of all improvements thereto and has no claims against Landlord or any other party with respect thereto; (vii) that if an assignment of rents or
leases has been served upon the Tenant by a Mortgagee, Tenant will acknowledge receipt thereof and agree to be bound by the provisions thereof, (viii) that Tenant will give to the Mortgagee copies of all notices required or permitted to be
given by Tenant to Landlord; and (ix) to any other information reasonably requested. 
  

 50 

	20.02	ENFORCEMENT 

 In the event that Tenant fails to deliver an
Estoppel Certificate, then such failure shall be a Default for which there shall be no cure or grace period. Tenant shall be deemed to have irrevocably appointed Landlord as Tenant’s attorney-in-fact to execute and deliver such Estoppel
Certificate. 
 ARTICLE TWENTY-ONE 
 ONE INTENTIONALLY OMITTED 
 ARTICLE TWENTY-TWO 
 REAL ESTATE BROKERS 
 Tenant represents that, except for the broker(s) listed in Section 1.01(19),
Tenant has not dealt with any real estate broker, sales person, or finder in connection with this Lease, and no such person initiated or participated in the negotiation of this Lease, or showed the Premises to Tenant. Tenant hereby agrees to
indemnify, protect, defend and hold Landlord and the Indemnitees, harmless from and against any and all liabilities and claims for commissions and fees arising out of a breach of the foregoing representation. Landlord agrees to pay any commission to
which Landlord’s Broker listed in Section 1.01(19) is entitled in connection with this Lease pursuant to Landlord’s written agreement with such broker. Landlord and Tenant agree that any commission payable to Tenant’s Broker
shall be paid by Tenant except to the extent Tenant’s Broker and Landlord’s Broker have entered into a separate agreement between themselves to share the commission paid to Landlord’s Broker by Landlord. 
 ARTICLE TWENTY-THREE 
 MORTGAGEE PROTECTION

  

	23.01	SUBORDINATION AND ATTORNMENT 

 This Lease is and shall be
expressly subject and subordinate at all times to (i) any ground or underlying lease of the Real Property, now or hereafter existing, and all amendments, extensions, renewals and modifications to any such lease, and (ii) the lien of any
mortgage or trust deed now or hereafter encumbering fee title to the Real Property and/or the leasehold estate under any such lease, and all amendments, extensions, renewals, replacements and modifications of such mortgage or trust deed and/or the
obligation secured thereby, unless such ground lease or ground lessor, or mortgage, trust deed or Mortgagee, expressly provides or elects that the Lease shall be superior to such lease or mortgage or trust deed. If any such mortgage or trust deed is
foreclosed (including any sale of the Real Property pursuant to a power of sale), or if any such lease is terminated, upon request of the Mortgagee or ground lessor, as the case may be, Tenant shall attorn to the purchaser at the foreclosure sale or
to the ground lessor under such lease, as the case may be, provided, however, that such purchaser or ground lessor shall not be (i) bound by any payment of Rent for more than one month in advance except payments in the nature of security for
the performance by Tenant of its obligations under this Lease; (ii) subject to any offset, defense or damages arising out of a default of any obligations of any preceding Landlord; or (iii) bound by any amendment or modification of this
Lease made without the written consent of the Mortgagee or ground lessor, or (iv) liable for any security deposits not actually received in 

  

 51 

 
cash by such purchaser or ground lessor. Notwithstanding the foregoing, or anything contained herein to the contrary, Landlord agrees to use its “best
efforts”, as that term is hereinbelow defined, to obtain a written agreement from the holder of any future Mortgage or ground lessor under any ground lease not to disturb Tenant’s possession of the Premises so long as Tenant is not in
Default under this Lease, which agreement would be on such Mortgagee’s or such ground lessor’s standard (albeit commercially reasonable) form of non-disturbance agreement containing the usual and customary provisions typically contained in
a non-disturbance agreement (Its “Standard Form NDA”). It is understood that the “use of best efforts” shall (i) not require or be construed to require Landlord to incur any charges or expenses in an effort to obtain such
non-disturbance agreement and (ii) only require Landlord to request the non-disturbance agreement and that if the holder of any such Mortgage or ground lessor, as the case may be, refuses to grant non-disturbance, Landlord’s sole
obligation hereunder shall be to advise Tenant of the rejection and to furnish Tenant with the name and address of the Mortgagee or ground lessor or the representative or officer with whom Tenant shall, at its option, be free to communicate with to
request such non-disturbance agreement further provided, however, that if Tenant uses its “best efforts” to secure a Standard Form NDA and the holder of any such future Mortgage or any such ground lessor is unwilling to enter into its
Standard Form NDA with Tenant for a reason other than Tenant’s Default under this Lease, this Lease shall not be subject or subordinate to such Mortgage or ground lease. This subordination shall be self-operative and no further certificate or
instrument of subordination need be required by any such Mortgagee or ground lessor. In confirmation of such subordination, however, Tenant shall execute promptly any reasonable certificate or instrument that Landlord, Mortgagee or ground lessor may
request Tenant hereby constitutes Landlord as Tenant’s attorney-in-fact to execute such certificate or instrument for and on behalf of Tenant upon Tenant’s failure to do so within fifteen (15) days of a request to do so. Upon request
by such successor in interest, Tenant shall execute and deliver reasonable instruments confirming the attornment provided for herein. 
  

	23.02	MORTGAGEE PROTECTION 

 Tenant agrees to give any Mortgagee
or ground lessor, concurrently, by registered or certified mail, a copy of any notice of default served upon the Landlord by Tenant, provided that prior to such notice Tenant has received written notice (by way of service on Tenant of a copy of an
assignment of rents and leases, or otherwise) of the address of such Mortgagee or ground lessor. Tenant further agrees that if Landlord shall have failed to cure such default within the time provided for in this Lease, then the Mortgagee or ground
lessor shall have an additional thirty (30) days after receipt of notice thereof within which to cure such default or if such default cannot be cured within that time, then if the Mortgagee or ground lessor agrees to cure such default, then the
Mortgagee or ground lessor shall have such additional time as may be necessary, if, within such thirty (30) days, any Mortgagee or ground lessor has commenced and is diligently pursuing the remedies necessary to cure such default, but in no
event shall said thirty (30) day period be extended by more than forty-five (45) days. Such period of time shall be extended by any period within which such Mortgagee or ground lessor is prevented from commencing or pursuing such
foreclosure proceedings or other proceedings to acquire possession of the Real Property by reason of Landlord’s bankruptcy. Until the time allowed as aforesaid for Mortgagee or ground lessor to cure such defaults has expired without cure,
Tenant shall have no right to, and shall not, terminate this Lease on account of default This Lease may not be modified or amended so as to reduce the rent or shorten the term, or so as to adversely 

  

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affect in any other respect to any material extent the rights of the Landlord, nor shall this Lease be canceled or surrendered, without the prior written
consent, in each instance, of the ground lessor or the Mortgagee. 
 ARTICLE TWENTY-FOUR 
 NOTICES 
 (a) All notices, demands or requests
provided for or permitted to be given pursuant to this Lease must be in writing and shall be personally delivered, sent by Federal Express or other reputable overnight courier service, or mailed by first class, registered or certified United States
mail, return receipt requested, postage prepaid. 
 (b) All notices, demands or requests to be sent pursuant to this Lease shall be deemed to
have been properly given or served by delivering or sending the same in accordance with this Section, addressed to the parties hereto at their respective addresses listed in Sections 1.01(2) and (3). 
 (c) Notices, demands or requests sent by mail or overnight courier service as described above shall be effective upon deposit in the mail or with such
courier service. However, the time period in which a response to any such notice, demand or request must be given shall commence to run from (i) in the case of delivery by mail, the date of receipt on the return receipt of the notice, demand or
request by the addressee thereof, or (ii) in the case of delivery by Federal Express or other overnight courier service, the date of acceptance of delivery by an employee, officer, director or partner of Landlord or Tenant Rejection or other
refusal to accept or the inability to deliver because of changed address of which no notice was given, as indicated by advice from Federal Express or other overnight courier service or by mail return receipt, shall be deemed to be receipt of notice,
demand or request sent Notices may also be served by personal service upon any officer, director or partner of Landlord or Tenant, and shall be effective upon such service. 
 (d) By giving to the other party at least ten (10) days written notice thereof, either party shall have the right from time to time during the term
of this Lease to change their respective addresses for notices, statements, demands and requests, provided such new address shall be within the United States of America. 
 ARTICLE TWENTY-FIVE 
 EXERCISE FACILITY 
 Tenant agrees to inform all employees of Tenant of the following: (i) the exercise facility is available for the use of the employees of tenants of
the Project only and for no other person; (ii) use of the facility is at the risk of Tenant or Tenants employees, and all users must sign a release; (iii) the facility is unsupervised; and (iv) users of the facility must report any
needed equipment maintenance or any unsafe conditions to the Landlord immediately. Landlord may discontinue providing such facility at Landlord’s sole option at any time without incurring any liability. As a condition to the use of the exercise
facility, Tenant and each of Tenant’s employees that uses the exercise facility shall first sign a written release in form and substance acceptable to Landlord. Landlord may change the rules and/or hours of the exercise facility at 

  

 53 

 
any time, and Landlord reserves the right to deny access to the exercise facility to anyone due to misuse of the facility or noncompliance with rules and
regulations of the facility. To the extent permitted by Law, Tenant hereby indemnifies, and agrees to protect, defend and hold the Indemnitees harmless, against any and all actions, claims, demands, liability, costs and expenses, including
attorneys’ fees and expenses for the defense thereof, arising from use of the exercise facility in the Project by Tenant, Tenants employees or invitees. In case of any action or proceeding brought against the Indemnitees by reason of any such
claim, upon notice from Landlord, Tenant covenants to defend such action or proceeding by counsel chosen by Landlord, in Landlord’s sole discretion. Landlord reserves the right to settle, compromise or dispose of any and all actions, claims and
demands related to the foregoing indemnity. 
 ARTICLE TWENTY-SIX 
 MISCELLANEOUS 
  

	26.01	LATE CHARGES 

 (a) The Monthly Base Rent, Rent Adjustments
and Rent Adjustment Deposits shall be due when and as specifically provided above. Except for such payments and late charges described below, which late charge shall be due when provided below (without notice or demand), all other payments required
hereunder to Landlord shall be paid within ten (10) days after Landlord’s demand therefor. All Rent and charges, except late charges, not paid when due shall bear interest from the date due until the date paid at the Default Rate in effect
on the date such payment was due. 
 (b) In the event Tenant is more than five (5) days late in paying any installment of Rent due under
this Lease, Tenant shall pay Landlord a late charge equal to five percent (5%) of the delinquent installment of Rent. The parties agree that (i) such delinquency will cause Landlord to incur costs and expenses not contemplated herein, the
exact amount of which will be difficult to calculate, including the cost and expense that will be incurred by Landlord in processing each delinquent payment of rent by Tenant, and (ii) the amount of such late charge represents a reasonable
estimate of such costs and expenses and that such late charge shall be paid to Landlord for each delinquent payment in addition to all Rent otherwise due hereunder. The parties further agree that the payment of late charges and the payment of
interest provided for in subparagraph (a) above are distinct and separate from one another in that the payment of interest is to compensate Landlord for its inability to use the money improperly withheld by Tenant, while the payment of late
charges is to compensate Landlord for its additional administrative expenses in handling and processing delinquent payments. 
 (c) Payment
of interest at the Default Rate and/or of late charges shall not excuse or cure any default by Tenant under this Lease, nor shall the foregoing provisions of this Article or any such payments prevent Landlord from exercising any right or remedy
available to Landlord upon Tenants failure to pay Rent when due, including the right to terminate this Lease. 
  

	26.02	NO JURY TRIAL; VENUE; JURISDICTION 

 Each party hereto
(which includes any assignee, successor, heir or personal representative of a party) shall not seek a jury trial, hereby waives trial by jury, and hereby further waives any 

  

 54 

 
objection to venue in the County in which the Project is located, and agrees and consents to personal jurisdiction of the courts of the State of California,
in any action or proceeding or counterclaim brought by any party hereto against the other on any matter whatsoever arising out of or in any way connected with this Lease, the relationship of Landlord and Tenant, Tenant’s use or occupancy of the
Premises, or any claim of injury or damage, or the enforcement of any remedy under any statute, emergency or otherwise, whether any of the foregoing is based on this Lease or on tort law. No party will seek to consolidate any such action in which a
jury has been waived with any other action in which a jury trial cannot or has not been waived. It is the intention of the parties that these provisions shall be subject to no exceptions. By execution of this Lease the parties agree that this
provision may be filed by any party hereto with the clerk or judge before whom any action is instituted, which filing shall constitute the written consent to a waiver of jury trial pursuant to and in accordance with Section 631 of the
California Code of Civil Procedure. No party has in any way agreed with or represented to any other party that the provisions of this Section will not be fully enforced in all instances. The provisions of this Section shall survive the expiration or
earlier termination of this Lease. 
  

	26.03	DEFAULT UNDER OTHER LEASE 

 It shall be a Default under
this Lease if Tenant or any Affiliate holding any other lease with Landlord for premises in the Project defaults under such lease and as a result thereof such lease is terminated or terminable. 
  

	26.04	OPTION 

 This Lease shall not become effective as a lease
or otherwise until executed and delivered by both Landlord and Tenant. The submission of the Lease to Tenant does not constitute a reservation of or option for the Premises, but when executed by Tenant and delivered to Landlord, the Lease shall
constitute an irrevocable offer by Tenant in effect for fifteen (15) days to lease the Premises on the terms and conditions herein contained. 
  

	26.05	TENANT AUTHORITY 

 Tenant represents and warrants to
Landlord that it has full authority and power to enter into and perform its obligations under this Lease, that the person executing this Lease is fully empowered to do so, and that no consent or authorization is necessary from any third party.
Landlord may request that Tenant provide Landlord evidence of Tenant’s authority. 
  

	26.06	ENTIRE AGREEMENT 

 This Lease and the Exhibits attached
hereto contain the entire agreement between Landlord and Tenant concerning the Premises and there are no other agreements, either oral or written, and no other representations or statements, either oral or written, on which Tenant has relied. This
Lease shall not be modified except by a writing executed by Landlord and Tenant. 
  

	26.07	MODIFICATION OF LEASE FOR BENEFIT OF MORTGAGEE 

 If
Mortgagee of Landlord requires a modification of this Lease which shall not result in any increased cost or expense to Tenant or in any other substantial and adverse change in the rights and obligations of Tenant hereunder, then Tenant agrees that
the Lease may be so modified. 
  

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	26.08	EXCULPATION 

 Tenant agrees, on its behalf and on behalf of
its successors and assigns, that any liability or obligation of Landlord in connection with this Lease shall only be enforced against Landlord’s equity interest in the Property up to a maximum of Five Million Dollars ($5,000,000.00) and in no
event against any other assets of the Landlord, or Landlord’s officers or directors or partners, and that any liability of Landlord with respect to this Lease shall be so limited and Tenant shall not be entitled to any judgment in excess of
such amount 
  

	26.09	ACCORD AND SATISFACTION 

 No payment by Tenant or receipt
by Landlord of a lesser amount than any installment or payment of Rent due shall be deemed to be other than on account of the amount due, and no endorsement or statement on any check or any letter accompanying any check or payment of Rent shall be
deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such installment or payment of Rent or pursue any other remedies available to Landlord. No receipt
of money by Landlord from Tenant after the termination of this Lease or Tenants right of possession of the Premises shall reinstate, continue or extend the Term. Receipt or acceptance of payment from anyone other than Tenant, including an assignee
of Tenant, is not a waiver of any breach of Article Ten, and Landlord may accept such payment on account of the amount due without prejudice to Landlord’s right to pursue any remedies available to Landlord. 
  

	26.10	LANDLORD’S OBLIGATIONS ON SALE OF BUILDING 

 In the
event of any sale or other transfer of the Building, Landlord shall be entirety freed and relieved of all agreements and obligations of Landlord hereunder accruing or to be performed after the date of such sale or transfer, and any remaining
liability of Landlord with respect to this Lease shall be limited to Five Million Dollars ($5,000,000.00) and Tenant shall not be entitled to any judgment in excess of such amount. 
  

	26.11	BINDING EFFECT 

 Subject to the provisions of Article Ten,
this Lease shall be binding upon and inure to the benefit of Landlord and Tenant and their respective heirs, legal representatives, successors and permitted assigns. 
  

	26.12	CAPTIONS 

 The Article and Section captions in this Lease
are inserted only as a matter of convenience and in no way define, limit, construe, or describe the scope or intent of such Articles and Sections. 
  

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	26.13	TIME; APPLICABLE LAW; CONSTRUCTION 

 Time is of the essence
of this Lease and each and all of its provisions. This Lease shall be construed in accordance with the Laws of the State of California. If more than one person signs this Lease as Tenant, the obligations hereunder imposed shall be joint and several.
If any term, covenant or condition of this Lease or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the remainder of this Lease, or the application of such term, covenant or condition to
persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby and each item, covenant or condition of this Lease shall be valid and be enforced to the fullest extent permitted by Law.
Wherever the term “including” or “includes” is used in this Lease, it shall have the same meaning as if followed by the phrase but not limited to”. The language, in all parts of this Lease shall be construed according to its
normal and usual meaning and not strictly for or against either Landlord or Tenant. 
  

	26.14	ABANDONMENT 

 In the event Tenant vacates or abandons the
Premises but is otherwise in compliance with all the terms, covenants and conditions of this Lease, Landlord shall (i) have the right to enter into the Premises in order to show the space to prospective tenants, (ii) have the right to
reduce the services provided to Tenant pursuant to the terms of this Lease to such levels as Landlord reasonably determines to be adequate services for an unoccupied premises and (iii) during the last six (6) months of the Term, have the
right to prepare the Premises for occupancy by another tenant upon the end of the Term. Tenant expressly acknowledges that in the absence of written notice pursuant to Section 11.02(b) or pursuant to California Civil Code Section 1951.3
terminating Tenant’s right to possession, none of the foregoing acts of Landlord or any other act of Landlord shall constitute a termination of Tenant’s right to possession or an acceptance of Tenant’s surrender of the Premises, and
the Lease shall continue in effect. 
  

	26.15	LANDLORD’S RIGHT TO PERFORM TENANTS DUTIES 

 If Tenant
fails timely to perform any of its duties under this Lease, Landlord shall have the right (but not the obligation), to perform such duty on behalf and at the expense of Tenant without prior notice to Tenant, and all sums expended or expenses
incurred by Landlord in performing such duty shall be deemed to be additional Rent under this Lease and shall be due and payable upon demand by Landlord. 
  

	26.16	SECURITY SYSTEM 

 Landlord shall not be obligated to
provide or maintain any security patrol or security system. Landlord shall not be responsible for the quality of any such patrol or system which may be provided hereunder or for damage or injury to Tenant, its employees, invitees or others due to
the failure, action or inaction of such patrol or system. 
  

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	26.17	NO LIGHT, AIR OR VIEW EASEMENTS 

 Any diminution or
shutting off of light, air or view by any structure which may be erected on lands of or adjacent to the Project shall in no way affect this Lease or impose any liability on Landlord. 
  

	26.18	RECORDATION 

 Neither this Lease, nor any notice nor
memorandum regarding the terms hereof, shall be recorded by Tenant Any such unauthorized recording shall be a Default for which there shall be no cure or grace period. Tenant agrees to execute and acknowledge, at the request of Landlord, a
memorandum of this Lease, in recordable form. 
  

	26.19	SURVIVAL 

 The waivers of the right of jury trial, the
other waivers of claims or rights, the releases and the obligations of Tenant under this Lease to indemnify, protect, defend and hold harmless Landlord and/or Indemnitees shall survive the expiration or termination of this Lease, and so shall all
other obligations or agreements which by their terms survive expiration or termination of the Lease. 
  

	26.20	MAXYGEN TERMINATION 

 Notwithstanding anything to the
contrary contained in this Lease, this Lease and the obligations of each party hereto are expressly subject to the condition precedent that Landlord shall successfully enter into and obtain a legally binding written termination of the lease of Space
B from Maxygen, Inc., satisfactory in all respects In form and substance to Landlord in Landlord’s sole discretion providing for surrender to Landlord of Space B. Landlord shall give Tenant written notice of the satisfaction of this condition
precedent or of Landlord’s written waiver of this condition precedent Landlord may give such notice by tender of delivery to Tenant or its broker of the keys to Space B or by any other means permitted by the Lease. The date such termination
agreement is effective pursuant to its terms shall be the “Maxygen Termination Date”. 
  

	26.21	OPTION TO EXTEND 

 (a) Landlord hereby grants Tenant a
single option to extend the initial Term of the Lease for an additional period of five (5) years (such period may be referred to as the “Option Term”), as to the entire Premises as it may then exist, upon and subject to the terms and
conditions of this Section (the “Option To Extend”), and provided that at the time of exercise of such right: (I) Tenant must be in occupancy of the entire Premises; and (ii) there has been no material adverse change in
Tenant’s financial position from such position as of the date of execution of the Lease, as certified by Tenant’s independent certified public accountants, and as supported by Tenant’s certified financial statements, copies of which
shall be delivered to Landlord with Tenants written notice exercising its right hereunder. 
 (b) Tenant’s election (the “Election
Notice”) to exercise the Option To Extend must be given to Landlord in writing no earlier than the date which is twelve months (12)

  

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months before the Expiration Date and no later than the date which is nine (9) months before the Expiration Date. If Tenant either fails or elects not
to exercise its Option to Extend by not timely giving its Election Notice, then the Option to Extend shall be null and void. 
 (c) The
Option Term shall commence immediately after the expiration of the initial Term of the Lease. Tenant’s leasing of the Premises during the Option Term shall be upon and subject to the same terms and conditions contained in the Lease except that
(i) the Monthly Base Rent, plus payment of Tenant’s Share of Operating Expenses pursuant to the Lease (in addition to all expenses paid directly by Tenant to the utility or service provider, which direct payments shall continue to be
Tenant’s obligation) shall be amended to equal the “Option Term Rent”, defined and determined in the manner set forth in the immediately following Subsection; (ii) the Security Deposit, if any, shall be increased within fifteen
(15) days after the Prevailing Market Rent has been determined to equal one hundred percent (100%) of the highest monthly installment of Monthly Base Rent thereunder, but in no event shall the Security Deposit be decreased;
(iii) Tenant shall accept the Premises in its “AS-IS” condition without any obligation of Landlord to repaint, remodel, repair, improve or alter the Premises or to provide Tenant any allowance therefor; and (iv) there shall be no
further option or right to extend the term of the Lease. If Tenant timely and properly exercises the Option To Extend, references in the Lease to the Term shall be deemed to mean the initial Term as extended by the Option Term unless the context
clearly requires otherwise. 
 (d) The Option Term Rent shall mean the greater of (i) the Monthly Base Rent payable by Tenant under this
Lease calculated at the rate applicable for the last full month of the initial Term, plus payment of Tenant’s Share of Operating Expenses pursuant to the Lease (in addition to all expenses paid directly by Tenant to the utility or service
provider, which direct payments shall continue to be Tenant’s obligation) (collectively, “Preceding Rent”) or (ii) the “Prevailing Market Rent”. As used in this Section Prevailing Market Rent shall mean the rent and all
other monetary payments, escalations and triple net payables by Tenant, including consumer price increases, that Landlord could obtain from a third party desiring to lease the Premises for a term equal to the Option Term and commencing when the
Option Term is to commence under market leasing conditions, and taking Into account the following: the size, location and floor levels of the Premises; the type and quality of tenant improvements (including Tenant’s Improvements); age and
location of the Project; quality of construction of the Project; services to be provided by Landlord or by tenant; the rent, all other monetary payments and escalations obtainable for new leases of space comparable to the Premises in the Project and
in comparable buildings in the mid- Peninsula area, and other factors that would be relevant to such a third party in determining what such party would be willing to pay therefor, provided, however, that Prevailing Market Rent shall be determined
without reduction or adjustment for “Tenant Concessions” (as defined below), if any, being offered to prospective new tenants of comparable space. For purposes of the preceding sentence, the term’ “Tenant Concessions” shall
include, without limitation, so-called free rent, tenant improvement allowances and work, moving allowances, and lease takeovers. The determination of Prevailing Market Rent based upon the foregoing criteria shall be made by Landlord, in the good
faith exercise of Landlord’s business judgment. Within thirty (30) days after Tenant’s exercise of the Option To Extend, Landlord shall notify Tenant of Landlord’s determination of Option Term Rent for the Premises. If
Landlord’s determination of Prevailing Market Rent is greater than the Preceding Rent, and if Tenant, in Tenant’s sole discretion, disagrees with the amount of Prevailing Market Rent 

  

 59 

 
determined by Landlord, Tenant may elect to revoke and rescind the exercise of the option by giving written notice thereof to Landlord within thirty
(30) days after notice of Landlord’s determination of Prevailing Market Rent. 
 (e) This Option to Extend is personal to
Codex’s Inc. and may not be used by, and shall not be transferable or assignable (voluntarily or involuntarily) to any person or entity except for a Tenant Affiliate. 
 (f) Upon the occurrence of any of the following events, Landlord shall have the option, exercisable at any time prior to commencement of the Option Term,
to terminate all of the provisions of this Section with respect to the Option to Extend, with the effect of canceling and voiding any prior or subsequent exercise so this Option to Extend is of no force or effect: 
 (i) Tenant’s failure to timely exercise the Option to Extend in accordance with the provisions of this Section. 
 (ii) The existence at the time Tenant exercises the Option to Extend or at the commencement of the Option Term of any default on the part
of Tenant under the Lease or of any state of facts which with the passage of time or the giving of notice, or both, would constitute such a default. 
 (iii) Tenants third default under the Lease prior to the commencement of the Option Term, notwithstanding that all such defaults may subsequently be cured. 
 In the event of Landlord’s termination of the Option to Extend pursuant to this Section, Tenant shall reimburse Landlord for all costs and expenses
Landlord incurs in connection with Tenants exercise of the Option to Extend including, without limitation, costs and expenses with respect to any brokerage commissions and attorneys’ fees, and with respect to the design, construction or making
of any tenant improvements, repairs or renovation or with respect to any payment of all or part of any allowance for any of the foregoing. 
 (g) Without limiting the generality of any provision of the Lease, time shall be of the essence with respect to all of the provisions of this Section. 
  

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 IN WITNESS WHEREOF, this Lease has been executed as of the date set forth in Section 1.01(4) hereof.

  

									
	TENANT:	 		 	LANDLORD
	Codexis	 		 	Metropolitan Life Insurance Company,
	a	 	  
	 		 	a New York corporation
					
	By	 	 /s/ Alan Straw
	 		 	By	 	 /s/ JMR Redman

		 	Alan Straw	 		 		 	JMR Redman
		 	 Print name
	 		 		 	 Print name

	Its	 	President & CEO	 		 	Its	 	Assistant Vice President
		 	(Chairman of Board, President or Vice President)	 		 		 	
					
	By	 	  
	 		 	By	 	  

		 	  
	 		 		 	  

		 	 Print name
	 		 		 	 Print name

	Its	 	  
	 		 	Its	 	  

		 	(Secretary, Assistant Secretary, CFO or Assistant Treasurer)	 		 		 	

  

 61

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