Document:

Exhibit

Exhibit 10.1
SEPARATION AND GENERAL RELEASE AGREEMENT
This SEPARATION AND GENERAL RELEASE AGREEMENT (this “Agreement”) is entered into by and among William P. Kerfin, Jr. (the “Executive”), on the one hand, and Forterra, Inc. (“Forterra”), and USP Holdings, Inc. (the “Company”), on the other hand, and is effective as of the Effective Date (as defined herein).  The Company, Forterra and the Executive shall each be referred to in this Agreement as a “Party,” and collectively as the “Parties.”
WHEREAS, the Executive has been employed by the Company as its President pursuant to that certain Employment Agreement dated April 26, 2016 between Executive and the Company (the “Employment Agreement”), which superseded, terminated and cancelled that certain Senior Management Agreement between the Executive and the Company dated March 2, 2015 and which combines certain ongoing post-Employment restrictive covenants that survive termination of Employment; 
WHEREAS, LSF9 Concrete Holdings Ltd, a private limited company incorporated under the laws of the Bailiwick of Jersey (“Concrete Holdings”) previously established the LSF9 Concrete Holdings Ltd. Long Term Incentive Plan (as amended, supplemented, restated, or otherwise modified, the “LTIP”), in accordance with which Executive and Concrete Holdings entered into that certain Award Agreement dated August 21, 2016, which superseded, terminated and cancelled that certain Long Term Incentive Plan Award Agreement between the Executive and Concrete Holdings dated April 26, 2016 (as amended, supplemented, restated or otherwise modified, the “Award Agreement”); 
WHEREAS, pursuant to that certain Assignment and Assumption Agreement dated as of October 14, 2016, Concrete Holdings assigned and transferred all rights, title, interest and certain obligations in and under the LTIP to Forterra, and after such date Forterra maintains the LTIP;
WHEREAS, Executive and Forterra entered into that certain Indemnification Agreement dated October 19, 2016, which provides certain rights to indemnification of the Executive by the Company and by which the Company is bound(the “Indemnification Agreement”); 
WHEREAS, the Parties have determined that it is in their mutual best interests for Executive’s service with the Company and its affiliates to terminate on the terms and conditions set forth herein; and 
WHEREAS, Executive, Forterra and the Company wish to resolve all matters related to the Executive’s employment with the Company and the cessation thereof, the LTIP and the Award Agreement, on the terms and conditions expressed in this Agreement.
NOW THEREFORE, in consideration of the mutual promises contained herein, the Parties, intending to be legally bound, agree as follows:

1.Resolution of Disputes.  The Parties have entered into this Agreement as a way of severing the employment relationship between them and amicably settling any and all potential disputes concerning the Executive’s service with Forterra and the Company, the cessation thereof, the LTIP and the Award Agreement (the “Disputes”).  The Parties desire to resolve the Disputes and all issues raised by the Disputes, without the further expenditure of time or the expense of contested litigation.  Additionally, the Parties desire to resolve any known or unknown claims.  For these reasons, they have entered into this Agreement.  

2.Separation Date. Executive and the Company agree that Executive’s employment with the Company has ceased effective at 11:59 p.m. CDT on July 23, 2018 (the “Separation Date”), and that the Company will deem such cessation to be a termination without Cause (as defined under the Employment Agreement).  In connection with such cessation, Executive has resigned from all positions Executive held with Forterra, the Company and any of its affiliates, effective as of the Separation Date.  Notwithstanding the foregoing, for purposes of the Employment Agreement, the Plan and the Award Agreement, the parties agree that Executive’s cessation of service constitutes, and shall be deemed to constitute, a termination by the Company without Cause. Executive hereby waives any notice period with respect to the termination of his Employment.

3.Payments and Benefits. 

3.1Accrued Rights. Executive shall be entitled to payment of (i) his regular base salary earned through the Separation Date, (ii) any unreimbursed business expenses, (iii) any vacation days that have been accrued but unused under the Company’s vacation policy that are required to be cashed out under state law, and (iv) any reimbursements and payments due to the Executive under the Company’s benefit plans, programs or arrangements, with such amounts payable in accordance with the terms of such plans, programs or arrangements.

3.2LTIP.  The Parties acknowledge and agree that Executive shall retain all 80,000 of the Pool Units granted to him under the Award Agreement and the LTIP until the six-month anniversary of the Separation Date and shall remain entitled to all payments due to Executive in connection with any Liquidity Event (as defined in the LTIP) occurring on or before the six-month anniversary of the Separation Date with respect to all such Pool Units; provided, however, that all such Pool Units and any right to such payment shall be immediately forfeited on the date the Executive first violates any of the restrictive covenants set forth in Section 5 of the Employment Agreement.  Any payments due under the LTIP shall be made in accordance with the terms and conditions of the Award Agreement and the LTIP. 

3.3Equity Awards.  Executive acknowledges and agrees that all other equity awards that he holds in Forterra or any affiliate which are unvested as of the Separation Date under the terms of such awards shall be cancelled and forfeited without the payment of any additional consideration therefore as of the Separation Date.

3.4No Other Benefits. Except as provided in Sections 3.1 and 3.2 of this Agreement, Executive shall not be entitled to receive any other payment, benefit or other form of compensation as a result of his employment or the cessation thereof.  Executive further acknowledges and agrees that Executive has received all compensation and benefits owed to him and that the Company or its affiliates do not owe any additional compensation or benefits, including but not limited to salary, wages, bonus, accrued time off, reimbursement for expenses, or any other alleged entitlement or benefit, other than what has already been received or as set forth in Sections 3.1 and 3.2.  Further, Executive agrees that, in connection with any appointments on management and advisory boards for the Company and any affiliates of the Company, and for any tasks performed in connection therewith, Executive shall not be entitled to any further remuneration and/or any other benefits.

3.5Special Separation Pay.  In lieu of any separation payments provided under any other plans, programs, agreements or arrangements, in consideration of Executive’s undertakings set forth in this Agreement, and conditioned upon Executive’s execution, delivery, and non-revocation of this 

Agreement and Executive’s continued compliance with his obligations under this Agreement and Section 5 of the Employment Agreement, the Company shall provide the Executive with the following payments and benefits (the “Special Separation Compensation”): 

a.Continued payment of the Executive’s current base salary of $385,000 for a period of twelve (12) months following the Separation Date, which amount shall be subject to all applicable taxes and withholdings and shall be payable in accordance with the Company’s customary payroll practices over such period; 

b.In lieu of the notice period contemplated by Section 4(a) of the Employment Agreement, and in exchange for the waiver of any such notice by Executive, a one-time payment in the amount of $33,328.00,which amount shall be subject to all applicable taxes and withholdings and shall be payable in accordance with the Company’s customary payroll practices, in a lump sum within fourteen (14) days of the Effective Date of this Agreement (as defined herein);

c.Payment, at the time annual bonuses are paid to other Company executives, but no later than March 15, 2019, of an annual bonus for calendar year 2018 (based on actual performance for such year) in a lump sum amount pro-rated based on the number of days from January 1, 2018 through the Separation Date, subject to all applicable taxes and withholdings; and

d.For a period of twelve (12) months following the Separation Date, access to health coverage for Executive and his dependents under the Company’s group insurance plans at the same rate applicable to Executive as of immediately prior to the Separation Date.

Notwithstanding any of the foregoing, the Company shall not be obligated to make any of the payments or provide any of the benefits set forth in this Section 3.5 in the event Executive violates any of the obligations under this Agreement or Section 5 of the Employment Agreement.  By executing this Agreement, Executive acknowledges that neither the Company nor any of the Releasees (defined below) has any prior obligation to provide the Special Separation Compensation. Executive also acknowledges and agrees that the acceptance of the Special Separation Compensation and attendant obligations as described in this Agreement is in consideration of Executive’s promises and undertakings as set forth in this Agreement, and that if Executive violates any of the requirements and prohibitions set forth in this Agreement or Section 5 of the Employment Agreement, Executive forfeits and has no right to the Special Separation Compensation. Executive further acknowledges and agrees that the Company has satisfied all obligations owed to Executive pursuant to Executive’s Employment with the Company and the Executive’s participation in its benefit plans, and that no additional sums are owed by the Company or any of the other Releasees for any reason.

3.6No Representations as to Taxation.  The Company makes no representations regarding the taxability or legal effect of the payments described in this Agreement, and Executive is not relying on any statement or representation of the Company in this regard.  Executive will be solely responsible for the payment of any taxes assessed on the payments made hereunder.

3.7Notice of Purported Violation.  While the Company and the Executive both have full faith and expectation that each shall comply with all terms and conditions of this Agreement and the Employment Agreement as reaffirmed by paragraph 11 of this document, in the event of a perceived violation by either party, the party who believes the Agreement has been violated shall provide notice pursuant to paragraph 23 of this document and inform the other party of the nature and timing of the 

purported violation.  Notice shall be provided with seven (7) days of the purported violation or at such time when the violation came to the attention of the aggrieved party. Within seven (7) days of the date of such notice, the party receiving the notice of purported violation shall respond and attempt to cure the alleged violation if possible or otherwise dispute or admit the violation.  Attempting to cure the purported violation shall not be deemed as admitting the violation.  During this time frame, the Company agrees to refrain from withholding Executive’s salary continuation and/or benefits pursuant to Section 3.5 of this Agreement or initiating a cause of action in a court of law or pursuant to Section 15 of this document unless the Executive admits the violation. During this time frame, the Executive likewise agrees to refrain from initiating a cause of action in a court of law or pursuant to Section 15 of this document unless the Company admits the violation. Notwithstanding any of the foregoing portions of this Section 3.7, nothing in this Section 3.7 shall prevent the Company from immediately seeking or obtaining immediate injunctive relieve under Section 11 of this Agreement in the event that Executive violates the covenants in Section 5 of the Employment Agreement.  In addition, nothing in this Section 3.7 shall be construed as a waiver of any of the rights or remedies of the Company or the Executive.

4.General Release.  

a.In consideration of the payments and benefits (less all applicable withholdings) set forth in this Agreement, Executive, on behalf of himself and his agents, heirs, executors, successors and assigns, knowingly and voluntarily releases, remises, and forever discharges the Company, Forterra, Forterra US Holdings, LLC, Concrete Holdings, Lone Star Fund IX (U.S.), L.P., Hudson Advisors, L.P., and each of their respective parents, subsidiaries or affiliates, together with each of their current and former principals, officers, directors, partners, shareholders, attorneys, agents, representatives and employees, and each of their respective affiliates, and each of the above listed person’s heirs, executors, successors and assigns whether or not acting in his or his representative, individual or any other capacity (each a “Releasee” and, collectively, the “Releasees”), to the fullest extent permitted by law, from any and all debts, demands, actions, causes of actions, accounts, covenants, contracts, agreements, claims, damages, costs, expenses, omissions, promises, and any and all claims and liabilities whatsoever, of every name and nature, known or unknown, suspected or unsuspected, both in law and equity (collectively, the “Claims”), including but not limited to those which Executive ever had, now has, or may hereafter claim to have against the Releasees by reason of the Executive’s employment with the Company, the cessation thereof, the Award Agreement, the LTIP, or any other matter, cause or thing whatsoever relating thereto arising from the beginning of time to the time he signs this Agreement (the “General Release”).  The General Release shall apply to any Claim of any type, including, without limitation, any Claims with respect to Executive’s entitlement to any wages, bonuses, benefits, payments, or other forms of compensation; any claims of wrongful discharge, breach of contract, breach of the covenant of good faith and fair dealing, violation of public policy, defamation, personal injury, or emotional distress; any Claims of any type that Executive may have arising under the common law; any Claims under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967 (the “ADEA”), the Older Workers Benefit Protection Act, the Americans With Disabilities Act, the Family and Medical Leave Act, the Executive Retirement Income Security Act, the Fair Labor Standards Act, the federal Workers’ Adjustment and Retraining Notification Act, the Sarbanes-Oxley Act, each as amended; and any other federal, state or local statutes, regulations, ordinances or common law, or under any policy, agreement, contract, understanding or promise, written or oral, formal or informal, between any of the Releasees and Executive, and shall further apply, without limitation, to any and all Claims in connection with,

related to or arising out of Executive’s employment relationship, or the termination of his employment, with the Company or any Releasee and to any Claims fraud or fraud in the inducement or fraudulent misrepresentation in relation to any such matters.  

b.Executive intends that this General Release extend to any and all Claims of any kind or character related to the Company or any Releasee, and Executive, on behalf of himself, his agents, heirs, executors, successors and assigns, therefore expressly waives any and all rights granted by federal or state law or regulation that may limit the release of unknown claims.

c.Executive represents and warrants that Executive has not filed, and Executive will not file, any lawsuit or institute any proceeding, charge, complaint or action asserting any claim released by this Agreement before any federal, state, or local administrative agency or court against any Releasee, concerning any event occurring prior to the signing of this Agreement.  Notwithstanding the foregoing, nothing contained in this Agreement limits Executive’s ability to file a charge or complaint with any federal, state or local governmental agency or commission (“Government Agencies”) or limits Executive’s ability provide information to or communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agencies in connection with any charge or complaint, whether filed by Executive, on his behalf, or by any other individual.  However, to the maximum extent permitted by law, Executive agrees that if such a charge or complaint is made, Executive shall not be entitled to recover any individual monetary relief or other individual remedies.  This Agreement does not limit or prohibit Executive’s right to receive an award for information provided to any Government Agency to the extent that such limitation or prohibition is a violation of law.  Furthermore, if Executive makes a confidential disclosure of any trade secret or confidential information of the Company to a government official or an attorney for the sole purpose of reporting or investigating a suspected violation of law, or in a court filing under seal, Executive will not be held liable under this Agreement, the Employment Agreement, the Award Agreement, or under any federal or state trade secret law for such a disclosure.  Executive also hereby agrees that nothing contained in this Agreement shall constitute or be treated as an admission of liability or wrongdoing by any of the Releasees.  Executive also hereby agrees that nothing contained in this Agreement shall constitute or be treated as an admission of liability or wrongdoing by any of the Releasees.

d.Nothing in this Section 4 shall be deemed to release (i) Executive’s right to enforce the terms of this Agreement, (ii) Executive’s rights, if any, to any vested benefits as of Executive's last day of employment with the Company under the terms of an employee compensation or benefit plan, program or agreement in which Executive is a participant, or (iii) any Claim that cannot be waived under applicable law, including any rights to workers’ compensation or unemployment insurance.

e.Executive hereby represents and warrants to the Releasees that Executive is the sole owner of any Claims that Executive may now have or in the past had against any of the Releasees and that Executive has not assigned, transferred, or purported to assign or transfer any such Claim to any person or entity.

5.Return of Property.  Executive represents and warrants that as of the Effective Date he has returned to the Company all property of the Company in whatever form in accordance with the terms of Section 5(f) of the Employment Agreement.

6.Cooperation. Executive agrees to make himself available as reasonably requested by the Company, and after reasonable advance notice that shall not materially interfere with Executive’s other commitments, with respect to, and to use reasonable best efforts to cooperate in conjunction with any litigation, arbitration, inquiry, investigation (internal or external), proceeding, or dispute of any kind arising from or relating to events that occurred during Executive’s employment with the Company and its affiliates (whether such litigation, arbitration, inquiry, investigation, proceeding or dispute is currently pending or subsequently initiated) involving the Company or any affiliate of the Company including providing interviews, testimony and preparing to provide testimony if so requested by the Company.  Executive shall be entitled to payment in the amount of $215 per hour for any such cooperation and the Company shall reimburse Executive for any reasonable travel and other expenses incurred in connection with such cooperation.  Nothing in this Agreement is intended to modify the rights and obligations of the Company or the Executive under the Indemnification Agreement. 

7.Reemployment. Executive acknowledges in consideration of the Special Separation Compensation described in Section 3.5 of this Agreement, that as of the date of the Executive’s execution of this Agreement, Executive does not intend to seek and will not seek to be rehired by the Company or any of the other Releasees.  Executive further acknowledges and agrees that should Executive seek rehire with the Company or any of the other Releasees in the future, and the Company or any of the other Releasees does not offer Executive employment, that refusal to offer employment is in no way discriminatory or retaliatory. 

8.Confidentiality.  Executive understands and acknowledges that Forterra’s common stock is publicly traded on the Nasdaq Global Market Exchange and that Forterra may have the obligation to make public either the existence of this Agreement, certain of its terms and the circumstances surrounding Executive’s separation from employment with the Company.  Notwithstanding the foregoing, Executive agrees not to voluntarily make the existence of this Agreement, the terms and conditions set forth in this Agreement, or the circumstances surrounding this Agreement known to anyone other than the attorney and/or tax consultant from whom he receives counseling or, if he is married, to his spouse, or except as otherwise required by law.  Executive acknowledges that any such person must agree not to further disclose the existence of, the terms of, or the circumstances surrounding this Agreement.  The Parties agree that this promise is a material inducement to the Company to enter into this Agreement.

9.No Other Lawsuits or Claims.  Executive affirms that Executive is the sole owner of all claims related to Executive’s employment, that Executive has not assigned or transferred any claims to any other person or entity, and that Executive has no claims, lawsuit or action pending against any of the Releasees.  Executive further affirms that Executive has no cause to believe any violation of any local, state or federal law has occurred with regard to Executive’s employment or separation.  Executive affirms that Executive has not and has no cause to believe that Executive incurred or sustained any work-related injury during Executive’s employment.

10.Defense of Trade Secrets Act Notification.  Executive understands and acknowledges that Executive’s non-disclosure obligations pursuant to this Agreement and Section 5 of the Employment Agreement are subject to the following immunity provisions of the Defend Trade Secrets Act of 2016:

		
	a.
	The Company hereby notifies Executive that Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (A) is made (i) in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting 

or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  

		
	b.
	An individual who files a lawsuit for retaliation by the Company for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.  

11.Covenants.  In consideration of the payments set forth in this Agreement, Executive reaffirms the covenants made in Section 5 of the Employment Agreement, which are incorporated herein by reference and modified as follows: all references to the words clay and brick in section (c) of Section 5 of the Employment Agreement are hereby stricken and no longer enforceable; in addition, Section 5 of Employment Agreement shall not be interpreted to prohibit employment with companies that do not engage in developing or manufacturing building or water transmission products including pipe but do engage in resale or installation of such products, including but not limited to fire protection services, products and applications, so long as Executive does not engage in the sale resale or distribution of any the types of pressurized potable water products sold by U.S. Pipe or pressurized wastewater products sold by U.S. Pipe except to the extent that such products are incorporated into fire protection products and Executive otherwise complies with all covenants in Section 5 of the Employment Agreement, including those with respect to confidential information.  All other language in Section 5 of the Employment Agreement remains valid and in full force and effect.  For avoidance of doubt, Executive understands and agrees that he shall not provide Confidential Information to any non-governmental party asserting any claims against the Company or its affiliates.  As the sole exception to the exclusive arbitration provision in Section 15 of this Agreement, Executive agrees that the Company may enforce the obligations of those covenants by injunctive action in the state or federal courts of Dallas County, Texas without prior notice and without posting bond, to the maximum extent permitted by law, and Executive hereby irrevocably consents to jurisdiction of such courts.

12.Consultation with Attorney: Voluntary Agreement. Executive understands and agrees that he is under no obligation to consent to the General Release set forth in Section 4 above. Executive acknowledges and agrees that the payments set forth in Section 3.5 of this Agreement and the prior provision by the Company of Confidential Information to Executive are sufficient consideration to require him to abide with his obligations under this Agreement and Section 5 of his Employment Agreement, including but not limited to the General Release set forth in Section 4 herein.  Executive represents and agrees that Executive (i) is not relying upon any statements, understandings, representations, expectations or agreements other than those expressly set forth in this Agreement; (ii) has made his own investigation of the facts and is relying solely upon his own knowledge and the advice of his own legal counsel; (iii) knowingly waives any claim that this Agreement was induced by any misrepresentation or nondisclosure and any right to rescind or avoid this Agreement based upon presently existing facts, known or unknown; (iv) has read and understands the terms and effect of this Agreement and that this Agreement contains the full and final release of all claims against the Company and the Releasees; (v) is entering into this Agreement knowingly and voluntarily; (vi) is not, and would not be, otherwise entitled to the payments or benefits described herein but for his undertakings and agreements set forth herein; (vii) has been, by this Agreement, advised to consult with an attorney before signing this Agreement; and (viii) the only consideration for him signing this Agreement are the terms stated herein and no other promises or representation of any kind have been made by any person or entity whatsoever to cause him to sign this Agreement. 

13.Revocation Rights. Executive acknowledges that this Agreement includes a waiver of any rights and claims arising under the ADEA and the Older Workers Benefit Protection Act (the “ADEA Release”).  Executive acknowledges that the consideration that Executive is receiving in exchange for this waiver of the rights and claims specified in this Agreement exceed anything of value to which Executive is already entitled.  Executive acknowledges that Executive was advised in writing to consult with an attorney prior to executing this Agreement. Executive represents and agrees that Executive fully understands the right to discuss all aspects of this Agreement with legal counsel, and to the extent Executive has deemed it appropriate, Executive has fully availed himself of this right. Executive acknowledges and represents that he has been given at least twenty-one (21) days during which to review and consider the provisions of this Agreement and, specifically, the General Release set forth in Section 4 above, although he may sign and return it sooner if he so desires.  Executive further acknowledges and represents that he has been advised by the Company that he has the right to revoke this Agreement for a period of seven (7) days after signing it.  Executive acknowledges and agrees that, if he wishes to revoke this Agreement, he must do so in a writing, signed by him and received by the Company no later than 5:00 p.m. local time on the seventh (7th) day of the revocation period.  If the last day of the revocation period falls on a Saturday, Sunday or holiday, the last day of the revocation period will be deemed to be the next business day.  If no such revocation occurs, the General Release and this Agreement shall become effective on the eighth (8th) day following his execution of this Agreement (the “Effective Date”). Executive further acknowledges and agrees that, in the event that he revokes this Agreement, it shall have no force or effect, and he shall have no right to receive any payments or benefits pursuant to Section 3.5 hereof.

14.Governing Law. This Agreement shall be construed and enforced under and be governed in all respects by the laws of the State of Texas, without regard to the conflict of laws principles thereof.  

15.Dispute Resolution.  Subject to Section 11, any and all disputes relating to, arising from, or in connection with this Agreement, including the arbitrability thereof, shall be mutual agreement will be finally settled by binding arbitration in accordance with the Judicial Arbitration & Mediation Service, Inc. (“JAMS”) Comprehensive Arbitration Rules and Procedures or any successor provision thereto, as follows: Any party aggrieved will deliver a notice to the other party setting forth the specific points in dispute. Any points remaining in dispute thirty (30) days after the giving of such notice may be submitted to JAMS arbitration conducted before a single neutral arbitrator in Dallas, Texas.  The arbitrator shall be appointed by agreement of the parties hereto or, if no agreement can be reached, by JAMS.  The arbitrator may enter a default decision against any party who fails to participate in the arbitration proceedings.  The decision of the arbitrator on the points in dispute will be final, unappealable and binding, and judgment on the award may be entered in any court having jurisdiction thereof.  The arbitrator shall only be authorized to interpret the provisions of this Agreement, and shall not amend, change or add to any such provisions.  The parties agree that this provision has been adopted by the parties to rapidly and inexpensively resolve any disputes between them and that this provision will be grounds for dismissal of any court action commenced by either party with respect to this Agreement, other than post-arbitration actions seeking to enforce an arbitration award or proceedings seeking equitable relief as permitted by this Agreement.  In the event that any court determines that this arbitration procedure is not binding, or otherwise allows any litigation regarding a dispute, claim, or controversy covered by this Agreement to proceed, the parties hereto hereby waive any and all right to a trial by jury in or with respect to such litigation.  Each party will bear its own expenses and the fees of its own attorneys.  The parties and the arbitrator will keep confidential, and will not disclose to any person, except the parties’ advisors and legal representatives, or as may be required by law or to enforce in court an arbitrator’s award, the existence of any dispute hereunder.  Executive acknowledges that arbitration pursuant to this Agreement includes all controversies or claims of any kind (e.g., whether in 

contract or in tort, statutory or common law, legal or equitable) now existing or hereafter arising under any federal, state, local or foreign law, including, but not limited to, the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, the Executive Retirement Income Security Act, the Family and Medical Leave Act, the Americans With Disabilities Act and all similar federal, state and local laws, and the Executive hereby waives all rights thereunder to have a judicial tribunal and/or a jury determine such claims.

16.Entire Agreement.  This Agreement, the LTIP, the Award Agreement, the Indemnification Agreement, and Section 5 of the Employment Agreement constitute the entire agreement between the Parties with respect to the subject matter hereof and supersede all prior agreements between the Parties with respect to such matters, unless specifically provided otherwise herein. Executive agrees that he is not relying on any representations outside this Agreement.  Executive acknowledges and agrees that, except with respect to Section 5 of the Employment Agreement, the Employment Agreement and the Senior Management Agreement dated as of March 2, 2015 are cancelled and terminated and the Company has no ongoing obligations to Executive pursuant to those agreements.  

17.Section 409A.  The parties intend that the payments and entitlements provided hereunder be exempt from or in compliance with Section 409A of the Internal Revenue Code, and accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be exempt from  Section 409A or in compliance therewith, as applicable. The payments to Executive pursuant to this Agreement are intended to be exempt from Section 409A to the maximum extent possible, under either the separation pay exemption pursuant to Treasury regulation §1.409A-1(b)(9)(iii) or as short-term deferrals pursuant to Treasury regulation §1.409A-1(b)(4), and for such purposes, each payment to Executive under this Agreement shall constitute a “separately identified” amount within the meaning of Treasury regulation §1.409A-2(b)(2). Nothing contained herein shall constitute any representation or warranty by the Company regarding compliance with Section 409A. In the event the terms of this Agreement would subject Executive to taxes or penalties under Section 409A (“409A Penalties”), Executive and the Company shall cooperate diligently to amend the terms of the Agreement to avoid such 409A Penalties, to the extent possible; provided that in no event shall the Company be responsible for any 409A Penalties that arise in connection with any amounts payable under this Agreement. A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits that are considered nonqualified deferred compensation under Section 409A upon or following a termination of employment, unless such termination is also a “separation from service” within the meaning of Section 409A and the payment thereof prior to a “separation from service” would violate Section 409A. For purposes of any such provision of this Agreement relating to any such payments or benefits, references to a “termination,” “termination of employment” or like terms shall mean “separation from service” within the meaning of Treasury regulation §1.409A-1(h).

18.Amendment.  This Agreement may be modified or amended only by a written instrument signed by Executive and by an expressly authorized representative of the Company.

19.Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving Party.  The failure of either Party to require the performance of any term or obligation of this Agreement, or the waiver by either Party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

20.Successors and Assigns.  This Agreement shall inure to the benefit of the Company and each of its successors and assigns.  Executive shall not assign this Agreement or any part hereof. Any purported assignment by Executive shall be null and void from the initial date of the purported assignment.

21.Drafting. This Agreement and the provisions contained in it shall not be construed or interpreted for or against either party because that party drafted or caused that party’s legal representative to draft any of its provisions.

22.Headings. Descriptive headings in this Agreement are inserted for convenience only and shall be disregarded in construing or applying any provision of this Agreement.

23.Notices.  All notices required by this Agreement must be in writing and shall be effective when delivered in person, consigned to a reputable national courier service or deposited in the United States mail, postage prepaid, registered or certified, and addressed to the Executive at his last known address on the books of the Company or, in the case of the Company, at its principal place of business, attention of the Legal Department or to such other address as any Party may specify by notice to the other actually received.

24.Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, and both of which, taken together, shall constitute one and the same instrument. This Agreement may be executed and delivered by exchange of facsimile or other electronic means of transmitting signature, and such signatures shall be considered an original for purposes of enforcement of the Agreement.

 [Signature page follows]

IN WITNESS WHEREOF, this Agreement has been duly executed as of the dates written below.

	
			
	Dated:
	August 14, 2018
	/s/ William P. Kerfin, Jr.   

	 
	 
	William P. Kerfin, Jr.

	 
	 
	 

	Dated:
	August 15, 2018
	Forterra, Inc.

	 
	 
	By:  /s/ Jeff Bradley       

	 
	 
	Name:  Jeff Bradley

	 
	 
	Title:  CEO

	 
	 
	 

	Dated:
	August 15, 2018
	USP Holdings, Inc.

	 
	 
	By:  /s/ Jeff Bradley       

	 
	 
	Name:  Jeff Bradley

	 
	 
	Title:  CEOalna-ex1010_26.htm

 

Exhibit 10.10

CUMMINGS PROPERTIES, LLC

STANDARD FORM

COMMERCIAL LEASE

Cummings Properties, LLC (“LESSOR”) hereby leases to Allena Pharmaceuticals. Inc. (a DE corp.), One Newton Executive Park, Suite 202, Newton, MA 02462 (“LESSEE”), the following premises, approximately 7,162 square feet (including 4.7% common area) at 142-B North Road, Sudbury, MA 01776 (“premises”), for a term of one year commencing at noon on September 1, 2016 and currently scheduled to terminate at noon on August 30, 2017 unless sooner terminated or extended as herein provided. LESSOR and LESSEE now covenant and agree that the following terms, conditions, covenants, and obligations (“terms”) shall govern the lease.

1. RENT. LESSEE shall pay LESSOR base rent of one hundred five thousand nine hundred ninety nine (105,999) U.S. dollars per year, drawn on a U.S. bank, in monthly installments of $8,833.25 on or before the first day of each calendar month, without offset or deduction. One monthly rental payment, plus an appropriate traction of a monthly payment for any portion of a month at the commencement of the lease term, shall be made upon LESSEE’S execution of this lease. All payments shall be made to LESSOR at 200 West Cummings Park, Woburn, Massachusetts 01801, or at such other place designated in writing by LESSOR. If the “Cost of Living” has increased as shown by the Consumer Price Index (Boston, Massachusetts, all items, all urban consumers), U.S. Bureau of Labor Statistics (“Index”), then base rent due during each calendar year of this lease and all extensions thereof shall be adjusted in proportion to any increase in the Index. The base month from which to determine the amount of each increase shall be January 2016, which figure shall be compared with the figure for November 2016, and each November thereafter to determine the increase (if any) in base rent to be paid during the following calendar year commencing each January 1.

2. SECURITY DEPOSIT. LESSEE shall pay LESSOR a security deposit of $33.000, drawn on a U.S. bank, upon LESSEE’S execution of this lease, which shall be held as security for LESSEE’S performance herein and refunded to LESSEE without interest at the end of this lease, subject to LESSEE’S satisfactory compliance with the terms hereof. LESSEE shall not apply the security deposit to any payment due under this lease. In the event of any breach of this lease by LESSEE, however, LESSOR may apply the security deposit first to any outstanding invoice or other payment due to LESSOR, and then to outstanding rent, in which event LESSEE shall fully restore said deposit forthwith. LESSEE’S failure to remit or restore the security deposit shall constitute a substantial (ease default if LESSEE fails to pay the security deposit and the initial rental payment as and when required herein, LESSEE agrees that LESSOR may at its sole option, declare this lease null and void for failure of consideration.

3. USE. LESSEE shall use the premises only for executive and administrative offices and a laboratory.

4. REAL ESTATE TAX INCREASES. LESSEE shall pay LESSOR as additional rent a proportionate share (based on square footage leased by LESSEE as compared with the total leasable square footage of the building(s) of which the premises are a part (building”)) of (i) all increases in the real estate (axes levied against the land and building (“property”), whether such increase(s) is/are due to an increase in the tax rate or assessment, or a change in the method of determining real estate taxes, and (ii) all real property surcharges and special assessments levied against the property. The base from which to determine the amount of any increase in taxes shall be (he rate and the assessment in effect for the fiscal year ending June 30, 2016, net of abatements, if any.

5. UTILITIES. LESSOR shall provide equipment per LESSOR’S building standards to heat the premises in season and to cool all office areas between May 1 and November 1. LESSEE shall pay all charges for utilities used on the premises, including electricity, telecommunications, gas, oil, water, and sewer, and shall use whichever utility service provider LESSOR designates. LESSEE shall also pay LESSOR a proportionate share of any other fees and charges relating in any way to utility use at the building, including charges for routine maintenance of any on-site septic system. LESSEE shall pay the utility provider or LESSOR, as applicable, for all such charges as determined by separate meters serving the premises and/or as a proportionate share if not separately metered.

6. COMPLIANCE WITH LAWS. LESSEE and LESSEE’S employees, agents, affiliates, callers, contractors, visitors, and invitees (“LESSEE parties”) shall not use the premises in any way that may be unlawful, improper, noisy, offensive, harmful, or contrary to any applicable statute, regulation, ordinance, or bylaw. LESSEE parties shall fully comply with all applicable statutes, regulations, ordinances, and bylaws related to or arising out of their use and occupancy of the premises and any allowed alterations herein, including without limitation, maintaining Worker’s Compensation Insurance and obtaining all licenses, permits, and approvals necessary for LESSEE’S use and occupancy of the premises.

7. FIRE, CASUALTY, EMINENT DOMAIN. Should a substantial portion of the premises, or of the property of which the premises are a part be substantially damaged by fire or casualty, or be taken by eminent domain, LESSOR may elect to terminate this lease. When such an event is not caused or contributed to by LESSEE parties and renders the building uninhabitable, a proportionate abatement of rent shall be made, and LESSEE may elect to terminate this lease upon 30 days’ prior written notice if. (a) LESSOR fails 

 

 

to give written notice within 30 days after said event of its Mention to restore the premises; or (b) LESSOR fails to restore the premises, using building standard finishes, to a condition substantially suitable for the use described above within 90 days after said event LESSOR reserves all rights for damages or injury to the premises for any taking by eminent domain, except for damage to LESSEE’S property or equipment.

8. FIRE INSURANCE. LESSEE parties shall not permit any use of the premises which will adversely affect or make voidable any insurance on the property, or the contents of the building, or which shall be contrary to any taw, regulation, or recommendation made by the Insurance Services Office (or successor organization), state fire prevention agency, local fire department LESSOR’S insurer, or any similar entity. LESSEE shall not vacate the premises or permit same to be unoccupied other than during LESSEES customary nonbusiness days or hours, or cause or allow the utilities serving the premises to be terminated.

9. SIGNS. LESSOR may*, at its expense, identify LESSEE’S occupancy of the premises with a building standard sign at the main entry to the premises and, if applicable, **on the building’s directory. LESSEE shall obtain LESSOR’S prior written consent before erecting any sign(s), and shall erect and maintain any such sign(s) in accordance with LESSOR’S building standards for style, size, wording, design, location, etc., now or hereafter made by LESSOR. LESSOR may, at LESSEE’S expense, remove and dispose of any sign(s) not property approved, erected, or maintained.

 

	
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shall

	
**
	
LESSOR shall include LESSEE’S name

10. MAINTENANCE. Except as otherwise provided below, LESSOR will maintain the structure, roof, landscaping, common areas, and building standard heating and cooling equipment, sprinklers, doors, plumbing, and electrical wiring at the premises, but specifically excluding damage caused by the careless, malicious, willful, or negligent acts of LESSEE parties or others, and corrosion and chemical or water damage from any source. LESSEE agrees to maintain at its expense all other aspects of the premises in the same condition as they are when delivered to LESSEE or as they may be put in during the lease term, normal wear and tear only excepted, and whenever necessary, to replace light bulbs and glass, acknowledging that the premises *are now in good order**. LESSEE shall properly control and vent all chemicals, radioactive materials, smoke, moisture, odors, and other materials that may be harmful, and shall not cause the area surrounding the premises or any other common area to be in anything other than a neat and clean condition, and shall appropriately dispose of all waste. LESSEE shall be solely responsible for any damage to any equipment serving the premises or the building which relates to or arises out of the storage, discharge, or use of any substance by LESSEE. LESSEE shall not permit the premises to be overloaded, damaged, stripped, or defaced, nor suffer any waste, and will not bring or keep animals therein. If the premises include any wooden mezzanine-type space, the floor capacity of such space is suitable only for light office or storage use. LESSEE will protect any flooring with chair pads under any rolling chairs and shall maintain sufficient heat to prevent freezing of pipes or other damage. All heating, ventilating, air conditioning, plumbing, and electrical equipment serving areas of the premises used for any purpose other than general office or warehouse, and any installation or maintenance of any “non-building standard” leasehold improvements or equipment which is associated with some specific aspect of LESSEE’S use, whether installed by LESSOR, LESSEE or a prior occupant, shall be LESSEE’S sole responsibility and at LESSEE’S expense. All maintenance and other services provided by LESSOR shall occur during LESSOR’S normal business hours.

 

	
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will be

	
**
	
upon delivery by LESSOR

11. ASSIGNMENT OR SUBLEASE. Provided LESSEE is not in default of any term hereof, LESSEE may assign this lease or sublet or allow another entity or individual to use or occupy all or part of the premises, but only with LESSOR’S prior written consent in each instance. LESSEE shall not assign this lease or sublet any part of the premises to any other current or prospective tenant of LESSOR, or any affiliate of such current or prospective tenant. As a condition to any assignment or sublease, a security deposit increase shall be paid to and held by LESSOR. If LESSEE notifies LESSOR of its desire to assign this lease or sublet, LESSOR may elect to terminate this lease, at an effective date to be determined by LESSOR, upon notice to LESSEE. Notwithstanding LESSOR’S consent to any assignment or sublease, LESSEE and GUARANTOR shall remain liable for the payment of all rent and for the full performance of all terms of this lease and ail amendments and extensions thereto.

12. ALTERATIONS. LESSEE parties shall not make structural alterations, additions, or improvements of any kind to the premises, but LESSEE may make nonstructural alterations, additions, or improvements with LESSOR’S prior written consent fallowed alterations”). All allowed alterations shall be at LESSEE’S expense and shall conform with LESSOR’S building standards and construction specifications or will be subject to restoration charges, If LESSOR or its agents provide(s) any services or maintenance in connection with allowed alterations and/or the review thereof, LESSEE will promptly pay any just invoice(s). LESSEE shall obtain, prior to the commencement of any work, a lien waiver from any contractor(s) performing work at the premises. LESSEE shall not permit mechanics’ liens or similar liens to remain upon the premises in connection with any work performed or claimed to have been performed at the direction of LESSEE and shall cause any such lien to be released or removed forthwith without cost to LESSOR. All allowed alterations shall become part of the premises and the property of LESSOR. LESSOR shall have the right at any time to make additions to the building, to change the arrangement of parking areas, stairs, or walkways, or otherwise to alter common areas or the exterior of the building. LESSEE shall move its furniture, furnishings, equipment, inventory, and other property as required by LESSOR to enable LESSOR to carry out the above-described work.

 

 

13. LESSOR’S ACCESS. LESSOR, its agents or designees may at any reasonable time enter to view the premises; to show the premises to others; to make repairs and alterations as LESSOR, its agents, or designees should elect to do for the premises, the common areas, or any other portions of the building; and without creating any obligation or liability for LESSOR, but at LESSEES expense, to perform work which LESSEE is required but has failed to do.

14. SNOW REMOVAL. The plowing of snow from all driveways and unobstructed parking areas shall be at the sol expense of LESSOR. The control of snow and ice on all walkways, stairs, and loading areas serving the premises and all other areas not readily accessible to plows shall be the sole responsibility of LESSEE. Notwithstanding the foregoing, LESSEE shall hold LESSOR and OWNER harmless from any and all claims by LESSEE parties for personal injuries and/or property damage resulting in any way from snow or ice on any area serving the premises.

15. ACCESS AND PARKING. LESSEE parties may without additional charge use parking spaces provided for the building in common with others. The number of spaces used by LESSEE parties, which shall be presumed to equal the number of persons present at the premises, shall not at any time exceed LESSEE’S proportionate share of the total spaces for the building. No unattended parking (i.e., parking where the driver of a vehicle is not readily available at the premises to relocate said vehicle) will be permitted between 7:00 PM and 7:00 AM without LESSOR’S prior written approval, and any such allowed parking shall be permitted only in designated overnight parking areas. Unregistered or disabled vehicles or trailers of any type may not be parked at any time. LESSOR may tow, at LESSEES sole risk and expense, any misparked vehicle belonging to LESSEE parties, at any time. LESSEE parties shall not obstruct any portion of the building or its common areas. LESSOR may record activities at the building with monitored and/or unmonitored cameras; however, LESSEE agrees that LESSOR is not in any way providing any security services for LESSEE parties, and accepts full responsibility for protecting LESSEE parties and their property.

16. LIABILITY. LESSEE shall be solely responsible as between LESSOR and LESSEE parties for death or personal injuries to all persons and/or property damage, including damage by fire or casualty, arising out of the use, control, condition, or occupancy of the premises by LESSEE parties, except for death, personal injuries, and/or property damage directly resulting from the negligence of LESSOR. LESSEE agrees to indemnity and hold harmless LESSOR and OWNER from any and all liability, including but not limited to costs, expenses, damages, causes of action, claims, judgments, and attorneys’ fees caused by or in any way arising out of any of the aforesaid matters. All common areas, including but not limited to any parking areas, driveways, stairs, loading areas, corridors, roofs, walkways, lobbies, atria, elevators, communications closets, community conference rooms, and outdoor areas (“common areas”) shall be considered a part of the premises for purposes of Sections 16 and 17 when they are used by LESSEE parties.

17. INSURANCE. LESSEE shall maintain at its expense a commercial general liability policy insuring LESSEE, LESSOR, and OWNER against all claims for personal injuries (including death) and/or property damage arising out of the use, control, condition, or occupancy of the premises, including any common areas, by LESSEE parties, including damage by fire or casualty, such policy to insure LESSEE, LESSOR, and OWNER against any claim up to $1,000,000 for each occurrence involving personal injuries (including death), and $1,000,000 for each occurrence involving property damage. This insurance shall be primary to and not contributory with any insurance carried by LESSOR, whose insurance shall be excess. LESSOR and OWNER shall be included in each such policy as additional insureds using ISO form CG 20 2611 85, ISO form CG 2011 01 96 (without exclusions), ISO form CG 20 11 04 13 (without exclusions), or some other form approved in writing by LESSOR, and each such policy shall be issued by a company or companies satisfactory to LESSOR Prior to occupancy, LESSEE shall deliver to LESSOR a copy of such policy, together with the declarations page and all applicable riders and endorsements, showing that such insurance is in force, and thereafter will deliver, prior to the expiration of any such policy, notice of renewal of same. In the event any such policy or coverage changes, a copy of the policy, declarations page, and all applicable riders and endorsements shall be delivered to LESSOR within 10 days of such change. No policy shall be cancelled without at least 10 days’ prior written notice to each insured. If LESSEE fails to deliver or maintain such insurance at any time during the term of this lease, LESSOR may, without further notice to LESSEE, elect to obtain such insurance, whereupon LESSEE shall pay LESSOR a reasonable charge for such insurance, plus LESSOR’S administrative expenses.

18. BROKERAGE. LESSEE warrants and represents that it has dealt with no broker, tenant representative, or third party in connection with this lease*, and agrees to indemnity LESSOR against all brokerage claims arising out of this lease. LESSOR warrants and represents that it has employed no exclusive broker or agent in connection with this lease. If either LESSOR or LESSEE introduces a broker, tenant representative, or other third party on its behalf for any extension, amendment, or other modification of this lease, any fees or commissions shall be the sole responsibility of the party engaging such broker, tenant representative, or third party.

 

	
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except for NAI Hunneman to which LESSOR shall pay a commission in accordance with a separate agreement

19. SUBORDINATION. This lease shall be subject and subordinate to any and all mortgages and other like instruments made at any time hereafter, and LESSEE shall, when requested, promptly execute and deliver such instruments as necessary to show the subordination of this lease to said mortgages or other such instruments.

 

 

20. DEFAULT AND RENT ACCELERATION. In the event that (a) any assignment for the benefit of creditors, trust mortgage, receivership, or other insolvency proceeding shall be made or instituted with respect to LESSEE or LESSEE’S property, or (b) LESSEE shall default in the observance or performance of any term herein,

2 and such default shall not be corrected within 10 days after written notice thereof*, then LESSOR shall have the right thereafter, white such default continues and without demand or further notice, to re-enter and take possession of the premises, to declare the term of this lease ended, and/or to remove LESSEE’S effects, without liability, including for trespass or conversion, and without prejudice to any other remedies. If LESSEE defaults in the payment of any rent and any such rental default continues for 10 days after written notice thereof, and, because both parties agree that nonpayment of said sums is a substantial breach of this lease, and, because the payment of rent in monthly installments is for the sole benefit and convenience of LESSEE, then, in addition to any other remedies, the net present value of the entire balance of rent due herein as of the date of LESSOR’S notice, using the published prime rate then in effect, shall immediately become due and payable as liquidated damages, since both parties agree that such amount is a reasonable estimate of the actual damages likely to result from such breach. No actions taken by LESSOR under this section shall terminate LESSEE’S obligation to pay rent under this lease, as liquidated damages or otherwise. Any sums received by LESSOR from or on behalf of LESSEE may at any time be applied by LESSOR in its sole discretion first to any unamortized improvements completed for LESSEE’S occupancy, then to any unpaid invoice or other payment due to LESSOR, and then to unpaid rent. LESSEE shall pay all invoices within 10 days of the date of such invoice(s). If any rent and/or other payment is not received by LESSOR when due, then LESSEE shall pay LESSOR a one-time late charge for each past due amount equal to one percent of such overdue amount or $35 (whichever is greater) and interest at the rate of 18 percent per annum on any past due amount.

 

	
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or, in the event such default cannot be cured within said 10-day period, LESSEE shall have not commenced to cure and be diligently proceeding to cure

21. NOTICE. All notices from LESSOR to LESSEE under this lease shall be given in writing and shall be deemed duly served when left at the premises, served by constable, sent by recognized courier service with a receipt therefor, or mailed by certified or registered mail, return receipt requested, postage prepaid to LESSEE at * the premises or such other address as LESSEE may designate in writing. All notices from LESSEE to LESSOR under this lease shall be given in writing and shall be deemed duly served only when served by constable, or delivered to LESSOR by certified or registered mail, return receipt requested, postage prepaid, or by recognized courier service with a receipt therefor, addressed to LESSOR at 200 West Cummings Park, Wobum, Massachusetts 01801 or to the last address designated by LESSOR. No oral, facsimile, or electronic notice shall have any force or effect. Time is of the essence in the service of any notice.

 

	
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Allena Pharmaceuticals, Inc., One Newton Executive Park, Suite 202, Newton, MA 02462, Attn: Chief Financial Officer,

22. OCCUPANCY. If LESSEE takes possession of the premises prior to the commencement of this lease, LESSEE shall perform all terms of this lease from the date it takes possession. LESSOR may require LESSEE at LESSEE’S expense to relocate to another similar premises (which shall be within the same municipality as the current premises, unless *LESSEE is not regularly occupying the premises) at any time upon written notice to LESSEE and on terms comparable to those herein. If any of LESSEE parties occupies, controls, or encumbers any part of the premises without LESSOR’S written permission after the termination of this lease or otherwise beyond the period specified by LESSOR in writing, LESSEE shall be liable to LESSOR for any and all loss, damages, and/or expenses incurred by LESSOR, including consequential damages, and all terms of this lease shall continue to apply, except that use and occupancy payments shall be due in full monthly installments at a rate which shall be two times the greater of the monthly rent due under this lease for the immediately preceding calendar month or LESSOR’S then-current published one-year rental rate for the premises, it being agreed that such extended occupancy is a tenancy at sufferance, solely for the benefit and convenience of LESSEE and of greater rental value. The occupancy, control, or encumbrance of any part of the premises by any of LESSEE parties beyond noon on the last day of any rental period shall constitute occupancy for an entire additional month, and increased payment as provided in this section shall be immediately due and payable. LESSOR’S acceptance of any payments shall not alter LESSEES status as a tenant at sufferance.

 

	
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only in the event

23. FIRE PREVENTION. LESSEE agrees to use all reasonable precautions against fire, to provide and maintain approved, labeled fire extinguishers, emergency lighting equipment, and exit signs, and to complete all other modifications within the premises as required or recommended by the Insurance Services Office (or successor organization), OSHA, the local fire department, LESSOR’S insurer, or any similar entity.

24. OUTSIDE AREA. All items left or stored by LESSEE in any common area without LESSOR’S prior written consent shall be deemed abandoned and may be removed or disposed of by LESSOR at LESSEE’S expense without notice. LESSEE shall maintain a building standard size dumpster in a location approved by LESSOR, which dumpster shall be provided and serviced at LESSEE’S expense by a disposal firm designated by LESSOR. Alternatively, if a shared dumpster or compactor is provided by LESSOR, LESSEE shall pay the disposal firm or LESSOR, as applicable, LESSEE’S share of all charges associated therewith.

 

 

25. ENVIRONMENT. LESSEE parties shall not interfere in any way with the use and enjoyment of other portions of the same or neighboring buildings by others, in LESSOR’S discretion, by reason of odors, smoke, exhaust, vibrations, noise, moisture, pets, garbage, trash, vermin, pests, or otherwise, and will at their expense employ a professional service to eliminate such interference if determined necessary by LESSOR. No oil, hazardous material, or waste shall be used, stored, disposed of, or allowed to remain at the premises at any time without LESSOR’S prior written approval, and LESSEE shall be solely responsible for, and shall indemnify and hold harmless LESSOR and OWNER from, any and all corrosion and other damage in any way associated with the use, storage, disposal, and/or release of same by LESSEE parties. LESSEE shall provide and maintain effective devices for preventing damage to the building and property from deionized water, chemicals, and hazardous materials that may be used or present at the premises.

26. RESPONSIBILITY. In all events, neither LESSOR nor OWNER shall be liable to anyone for, nor shall LESSEE’S obligations under this lease be reduced because of loss, injury, or damage caused in any way by the use, leakage, Incursion, discharge, seepage, flooding, or escape of water or sewage in any form or from any source, or by the interruption or cessation of any service rendered customarily to the premises or building or agreed to by the terms of this lease, by any accident, the making of repairs, alterations or improvements, labor difficulties, weather conditions, mechanical breakdowns, trouble or scarcity in obtaining fuel, electricity, service, or supplies from the sources from which they are usually obtained, or by any change in any utility or service provider, or by any cause beyond LESSOR’S immediate control. Except as otherwise provided for in this lease, neither LESSOR nor OWNER nor LESSEE shall be liable for any special, incidental, indirect, or consequential damages, including but not limited to lost profits or loss of business, arising out of or in any manner connected with performance or nonperformance under this lease, even if any party has knowledge of the possibility of such damages.

27. SURRENDER. On or before the termination of this lease, LESSEE shall remove all of LESSEE parties’ goods and effects from the premises, and shall deliver to LESSOR exclusive and unencumbered possession of the premises and all keys and locks thereto, all fixtures, equipment and workstations of any type connected therewith, and all allowed alterations made to or upon the premises, whether completed by LESSEE, LESSOR, or others, including but not limited to any offices, window blinds, floor coverings, computer floors, plumbing, plumbing fixtures, heating, ventilating and air conditioning equipment, ductwork, exhaust fans, chillers, security, surveillance and fire protection systems, telecommunications and data wiring, cable trays, telephone systems, racking, air and gas distribution piping, compressors, cranes, hoists, cabinets, counters, shelving, millwork, casework, electrical work, including but not limited to lighting fixtures of any type, wiring, conduit, transformers, generators, distribution panels, bus ducts, raceways, receptacles and disconnects, and all furnishings and equipment that have been bolted, welded, nailed, screwed, glued, or otherwise attached to any wall, floor, ceiling, roof, pavement, or ground, or which have been directly wired, ducted, or plumbed to any portion of any building or system serving the premises. Prior to surrender, LESSEE shall, at LESSOR’S option, remove or properly terminate and label for future use any and all wiring and cabling installed and/or used by LESSEE. LESSEE shall deliver the premises broom dean, fully sanitized from all chemicals or other contaminants, and in at least the same condition as they were at the commencement of this lease or any prior lease between the parties for the premises, or as they were modified during said term with LESSOR’S written consent, reasonable wear and tear only excepted, and LESSEE shall be deemed to be encumbering the premises until it delivers the premises to LESSOR at the time and in the condition required herein. Any and all property, including business records, that remains at the premises upon termination of this lease shall, at LESSOR’S option, be subject to Section 22 above or be deemed abandoned and be disposed of as LESSOR sees fit, without LESSOR being liable for any loss or damage thereto, and at the sole risk of LESSEE. LESSOR may remove and store any such property at LESSEE’S expense; retain same under LESSOR’S control; sell same without notice at a public or private sale and apply the net proceeds of such sale to the payment of any sum due herein; or destroy same. Notwithstanding the delivery of any keys to LESSOR, in no case shall the premises be deemed surrendered to LESSOR until the termination date provided herein or such other date as may be specified in a written agreement between the parties. The parties’ rights and obligations under this section shall survive termination of this lease.

28. GENERAL. (a) The invalidity or unenforceability of any clause or term of this lease shall not affect or render invalid or unenforceable any other clause or term hereof. (b) No consent or waiver, express or implied, by LESSOR to or of any breach of any obligation of LESSEE is intended or shall be construed as a consent or waiver to or of any other breach of the same or any other obligation. (c) The terms of this lease shall rune with the land, and this lease shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, except that LESSOR and OWNER shall be liable for obligations occurring only which each is lessor or owner of the premises. (d) This lease is made and delivered in the commonwealth of Massachusetts, and shall be interpreted, construed, and enforced in accordance with the laws thereof and only in a court therein. Any action or proceeding arising out of this lease shall be brought by LESSEE within one year after the event giving rise to the claim has occurred. (e) If LESSOR or OWNER is a trust, corporation, or other limited liability entity, the obligations of LESSOR shall be binding upon the trust, corporation, or other entity, but not upon any trustee, officer, director, shareholder, member, limited partner, or beneficiary individually. (f) LESSOR represents that the owner of the premises (“OWNER”) has agreed to be bound by the terms of this lease unless LESSEE is in default hereof. (g) If LESSEE is more than one person, corporation, other legal entity, ownership, or some combination thereof, LESSEE’s obligations shall be joint and several. Unless repugnant to the context, “LESSOR” and “LESSEE” mean the person or persons, natural or corporate, named above as LESSOR and as LESSEE respectively, and their respective heirs, executors, administrators, successors, and assigns. (h) This lease is the result of negotiations between parties of equal bargaining strength, and when executed by other parties shall constitute the entire agreement between the parties, superseding all prior oral and 

 

 

written agreements, representations, and statements, and LESSEE agrees to keep all financial and other terms of this lease confidential. This lease may not be amended except by written agreement signed by all parties, or as otherwise provided herein, and no oral or written representation shall have any effect hereon. (i) Notwithstanding any other statements herein, LESSOR makes no warranty, express or implied, concerning the suitability of the premises for the use described above. (j) If, for any reason, LESSOR does not deliver possession of the premises as provided herein, unless a delay is caused or contributed to in any way by any of LESSEE parties, the rent, excluding the cost of any amortized improvements, shall be proportionately abated until LESSOR delivers possession, and LESSOR shall use reasonable efforts to deliver possession at the earliest practical date. LESSEE agrees that said abatement shall be LESSEE’s sole remedy for any delay in delivery of possession and that LESSOR shall not be liable for any damages to LESSEE for such delay. (k) Neither the submission of this lease form or any amendment hereof, nor the acceptance of the security deposit and/or rent shall constitute a reservation of or option for the premises, or an offer to lease, it being expressly understood and agreed that neither this lease nor any amendment shall bind either party in any manner whatsoever unless and until it has been executed by both parties. (l) LESSEE shall not be entitled to exercise any option in this lease, the attached Rider to Lease, or any subsequent amendment or extension, or to receive LESSOR’s consent as provided for herein, if LESSEE is at that time in default of any term hereof. If this lease terminates pursuant to Section 20 above, LESSEE acknowledges and agrees that this lease may, at LESSOR’s election, be reinstated by LESSOR with or without notice to LESSEE, and LESSOR may require one or more conditions prior to reinstatement. (m) No restriction, condition, or other endorsement by LESSEE on any payment, nor LESSOR’s deposit of any full or partial payment, shall bind LESSOR in any way or limit LESSOR’s rights under this lease. (n) LESSEE shall pay LESSOR for all legal and administrative fees and expenses incurred by LESSOR due to any consent requested by LESSEE or in enforcing any term of this lease. (o) LESSEE will conform to all rules and regulations now or hereafter made by LESSOR for parking, for the care, use, and/or alteration of the building, its facilities and approaches, and for the administration of this lease, and will not permit any of LESSEE parties to violate this lease or any of its terms. (p) LESSEE’s covenants under this lease shall be independent of LESSOR’s covenants, and LESSOR’s failure to perform any of its covenants under this lease, including a covenant constituting a significant inducement to LESSEE to enter into this lease, shall not excuse the payment of rent or any other charges by LESSEE or allow LESSEE to terminate this lease. (q) LESSOR, LESSEE, OWNER, and GUARANTOR hereby waive any and all right to a jury trial in any proceeding in any way arising out of the subject matter of this lease and/or the guaranty. (r) See attached Rider to Lease for additional terms.

29. SECURITY AGREEMENT. LESSEE hereby grants LESSOR a continuing security interest in all existing and hereafter acquired property of LESSEE kept in any of LESSOR’s buildings (excluding LESSEE’s intellectual property, patents and accounts receivable) to secure the performance of all LESSEE’s obligations under this lease or any subsequent lease between the parties.                                    all necessary amendments in connection with this security interest. This security agreement                                    subsequent lease between the parties, and shall not negate or replace any continuing security interest of LESSOR under any prior lease between the parties. Default in the payment or performance of any of LESSEE’s obligations under this lease or any subsequent lease shall be a default under this security agreement and shall entitle LESSOR to immediately exercise all of the rights and remedies of a secured party under the Uniform Commercial Code as adopted in Massachusetts. In the event of default, LESSEE shall assist and facilitate LESSOR’s exercise of its rights under this section.

30. AUTOMATIC LEASE EXTENSIONS. This lease, including all terms and escalations, etc. shall be automatically extended for additional successive periods of one year each unless LESSOR                                        whereupon it will be of no further force or effect. The time for serving such written notice shall be not more than 12 months or less than six months prior to the expiration of the then current lease term. Time is of the essence.

In witness whereof, LESSOR and LESSEE, intending to be legally bound, have caused this lease to be executed this 18th day of August, 2016.

 

	
LESSOR: CUMMINGS PROPERTIES, LLC
	
 
	
LESSEE: ALLENA PHARMACEUTICALS, INC.

	
 
	
 
	
 

	
By:
	
 
	
/s/ Eric S. Anderson
	
 
	
By:
	
 
	
/s/ Edward Wholihan

	
 
	
 
	
Duly authorized
	
 
	
 
	
 
	
Duly authorized

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
Edward Wholihan

	
 
	
 
	
 
	
 
	
 
	
 
	
Print name

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
CFO

	
 
	
 
	
 
	
 
	
 
	
 
	
Title

 

 

 

GUARANTY

In consideration of LESSOR making this lease with LESSEE, GUARANTOR hereby personally and unconditionally guarantees the prompt payment of rent by LESSEE and the performance by LESSEE of all financial and nonfinancial obligations arising out of (i) this lease (and all amendments, extensions, and/or assignments thereof) with respect to the premises herein and any new premises that may become subject to this lease, and (ii) LESSEE’s use and/or occupancy of any premises managed by LESSOR. The undersigned                                        enforcing this guaranty. LESSOR’s consent to any assignments, subleases, amendments, and extensions by LESSEE or to any compromise or release of LESSEE’s liability under this lease, with or without notice to the undersigned, or LESSOR’s failure to notify the undersigned of any default and/or reinstatement of this lease, shall not relieve GUARANTOR from personal liability.

In witness whereof, the undersigned GUARANTOR, intending to be legally bound, has causes this guaranty to be executed this               day of                           , 20__.

 

							
	
 
	
 
	
Address:
	
 
	
 

	
Signature
	
 
	
 
	
 
	
 

	
Print name:
	
 
	
 
	
 
	
 
	
 
	
 

 

 

 

CUMMINGS PROPERTIES, LLC

STANDARD FORM

RIDER TO LEASE

The following additional terms are incorporated into and made a part of the attached lease and in the event of any conflict between any term of this Rider to Lease and the attached lease, the terms of this rider shall govern:

A. SOUTH ESSEX SEWERAGE DISTRICT. With respect to leases at Cummings Center and Dunham Road in Beverly (only), LESSEE shall fully comply with all regulations of the South Essex Sewerage District (SESD) now or hereafter in effect including prompt filing with LESSOR of any documents required by the SESD. LESSEE agrees to indemnify and hold harmless LESSOR and OWNER from any and all liability arising out of any noncompliance of LESSEE with such regulations.

B. ACTIVITY AND USE LIMITATION. Except as provided below, with respect to leases at Cummings Center in Beverly and leases at 10 and 18 Commerce Way in Wobum (only), the following activities and uses are expressly prohibited at the property of which the premises are a part: residential uses (except for facilities for adult congregate care or assisted living, senior housing, nursing home uses and other adult residential facilities in certain designated areas of the property); child care, day care, or public or private elementary or secondary schools; a public park, playground or playing field, or other activities involving more than casual contact with the ground; cultivation out-of-doors of fruits and vegetables destined for human consumption; and fishing or swimming in the ponds and other waterways on or adjacent to the property. In addition, implementation of a health and safety plan is required for construction, utilities maintenance and other intrusive activities which are likely to involve extensive exposure to or contact with subsurface soils at the property. Notwithstanding the foregoing, residential, school, child care, day care and children’s learning center uses (and associated outside recreational activities and/or associated playground) are authorized in specific locations at Cummings Center and/or 10 and 18 Commerce Way. As to Cummings Center, the Notice of Activity and Use Limitation dated April 26,1996 was recorded at the Essex (South) Registry of Deeds at Book 13533, Page 559, and amended on September 2,1997 (Book 14299, Page 257), June 19, 2003 (Book 21871, Page 314), March 10, 2005 (Book 24047, Page 1), August 11, 2006 (Book 25994, Page 425), September 17,2008 (Book 28043, Page 576), and June 20,2016 (Book 35016, Page 348). As to 10 and 18 Commerce Way, the Notice of Activity and Use Limitation dated December 12, 1996 was recorded at the Middlesex (South) Registry of Deeds at Book 26901, Page 293 and registered with the Middlesex Registry District of the Land Court as Document No. 1231513, and amended on September 24, 2002 (Book 36592, Page 499) and September 19, 2007 (Book 50124, Page 578 and Land Court Document No. 01454912).

C. CHANGE IN CORPORATE FORM. If LESSEE is a trust, corporation, partnership or other limited liability entity, LESSEE shall serve written notice to LESSOR within 30 days following the date LESSEE: (a) changes its legal name, (b) merges into or consolidates with a third party, (c) files articles of entity conversion, (d) changes its state of organization/registration or domestication, (e) voluntarily or involuntarily dissolves or revokes its articles of organization, articles of incorporation or other charter documents, or (f) changes any trustee(s).

D. LESSOR, at LESSOR’S cost, shall, at the premises, repair and repaint alt drywall partitions, replace glass and light bulbs as needed, change all primary lock cylinders on exterior entry doors, clean all flooring, replace all damaged and missing ceiling tiles, broom-clean the premises, and connect gas and electric services. LESSOR agrees to deliver the premises in good working condition as of the commencement date of this lease, including all systems serving the premises, three fume hoods, one emergency shower with eyewash station, and two backflow preventers.

E. Notwithstanding anything to the contrary in Section 25 of this lease, LESSEE may use and store hazardous material, as that term is defined in M.G.L. c. 21E, §2, within the premises, in an amount not to exceed LESSEE’S proportionate share of the total hazardous material storage capacity allowed by applicable building code(s) and governmental authorities, which proportionate share is currently 10.22%, provided LESSEE fully complies with all applicable local, state, and federal laws, regulations, ordinances, and bylaws (collectively, “applicable laws”). In the event of any future changes in the size of the premises or the total leasable square footage of the building, there shall be a further corresponding adjustment of LESSEE’S proportionate share of the total hazardous materials storage capacity. In the event that any hazardous material and/or hazardous waste remains in the premises after the termination of this lease or, if applicable, the date LESSEE otherwise vacates the premises, including but not limited to relocating to a new premises pursuant to an amendment to this lease (in either case, the “Vacate Date”), or in the event that any manifest(s) need to be prepared for the delivery, transport, removal, and/or disposal of any hazardous material and/or hazardous waste to or from the premises (e.g., EPA Form 8700-22) and LESSEE’S authorized representative is unavailable for any reason, LESSEE hereby authorizes LESSOR to execute any and all manifests and related documents necessary to properly effectuate such delivery, transport, removal, and/or disposal on LESSEE’S behalf and at LESSEE’S sole expense using LESSEE’S Hazardous Waste Generator Identification Number. LESSEE shall be solely responsible for and shall indemnify and hold LESSOR and OWNER harmless from any and all liability, damage, and personal injury in any way relating to or arising out of the use, storage, disposal, transport, and/or release of such hazardous material or hazardous waste.

 

 

F. Notwithstanding anything in Section 10 of this lease to the contrary, LESSEE’S maintenance and repair obligations shall specifically include, without limitation, quarterly (or more frequent if necessary) inspection, repair, and replacement as needed of (i) all acid neutralization, pH adjustment, and other wastewater treatment tanks and equipment and drain lines into which said tanks and equipment discharge, (ii) backflow preventers and back-up generators that serve the premises, and (iii) all HVAC equipment not exclusively serving office areas, as well as all exhaust and intake fan components, including belts and air filters. LESSOR agrees to deliver to LESSEE a list of HVAC equipment not exclusively serving office areas, as well as exhaust fans serving the premises as of the commencement date of this lease. LESSEE shall be responsible for semiannual (or more frequent if necessary) cleaning and replenishment of neutralizing materials in all tanks, ensuring that all wastewater discharged from the premises is neutralized to a pH range between 6 and 9, or, in the case of deionized water, is appropriately diluted or treated, and fully complying with all applicable laws. Notwithstanding anything in Section 10 of this lease to the contrary, LESSEE acknowledges and agrees that the plumbing, electrical, and heating, and cooling systems serving the premises shall be maintained by LESSEE, at its sole expense, except that LESSOR shall maintain the restrooms and any of the above systems that exclusively serve(s) the office areas of the premises. Throughout the term of this lease, within 30 days following LESSOR’S request, and on or before the Vacate Date, LESSEE shall provide LESSOR with written evidence from a qualified third party documenting LESSEE’S compliance with the foregoing inspection, repair, and maintenance obligations, and certifying that all such equipment and systems required to be maintained by LESSEE are in good working condition (the “Condition Statement”). Time is of the essence.

G.* On or before the Vacate Date, LESSEE shall, at its sole expense, have the entire premises, including all extensions thereof (e.g. shafts, ducts, etc.) used in any way by LESSEE, cleaned, sanitized, and tested, and shall provide LESSOR with a written certification from a licensed, independent, and certified industrial hygienist (“CIH”) stating that as of the Vacate Date, the entire premises have been cleaned, sanitized, and tested and are free from all harmful chemical, biological, radioactive, and other contamination arising out of LESSEE’S tenancy, that there are no restrictions on future use or occupation by others, including any demolition, modification, and/or disposal of any materials as non-hazardous waste, and that the indoor air quality at the premises is satisfactory. Said cleaning, testing, and certification shall be completed in accordance with all CIH professional standards and all applicable laws and shall include, but not be limited to, all cabinetry, countertops, walls, ceilings, floors, casework, and all other surfaces, all mechanical and HVAC equipment, ductwork, diffusers, return air grilles, filters, make-up air units, exhaust fans, hoods, plumbing lines and fixtures, drains, septic systems (if any), and all acid neutralization, pH adjustment, and other wastewater treatment tanks, piping, and equipment. If LESSEE used, stored, and/or disposed of any radioactive materials at, in, on, or near the premises, LESSEE shall provide LESSOR with a written statement from all applicable governmental authorities that the premises have been fully decommissioned in accordance with all applicable laws on or before the Vacate Date.

H.* The premises shall be deemed occupied by LESSEE in accordance with Sections 22 and 27 of this lease unless and until LESSEE has provided, to LESSOR’S satisfaction and/or the satisfaction of LESSOR’S CIH, the required CIH certification, all applicable decommissioning statements, and the Condition Statement, all in accordance with the terms of the three preceding paragraphs.

I.* LESSEE shall provide to LESSOR and maintain throughout the entire lease term an Irrevocable Standby Letter of Credit negotiable on sight in the amount of $26,500 as security for LESSEE’S performance under the preceding four paragraphs and all other obligations under this lease. Said letter of credit shall be issued by a bank acceptable to LESSOR; provide for payment to LESSOR immediately and on sight upon LESSOR’S delivery to the bank of a statement that the drawing represents amounts due to LESSOR from LESSEE under this lease or is otherwise permitted under this lease; terminate no earlier than two months after the termination of this lease; and shall otherwise be in a form acceptable to LESSOR’S counsel. In addition, LESSOR shall be entitled to draw on said letter of credit and hold the proceeds as a cash security deposit in the event that LESSOR feels insecure about the continuing solvency of the issuing bank. Said letter of credit or the amount of the letter of credit in cash shall be delivered to LESSOR upon LESSEE’S execution of this lease. If cash is paid, LESSOR shall then refund it to LESSEE upon delivery to LESSOR of a letter of credit that fully complies with this paragraph. LESSEE shall pay LESSOR for all legal and administrative expenses incurred by LESSOR in connection with said letter of credit. The security required to be delivered to LESSOR pursuant to this paragraph shall be in addition to the cash security deposit provided for in Section 2 above.

J.* The preceding five paragraphs are key considerations of this lease.

K. Notwithstanding anything in Paragraph F above to the contrary, if at any time during the initial term of this lease (only), any of the HVAC equipment serving the laboratory portion of the premises (only) ceases to operate notwithstanding LESSEE’S maintenance of said equipment, then, provided LESSEE is not then in arrears of any rent or invoice payment or otherwise in default of this lease, and provided an independent, licensed, arm’s length third-party HVAC technician certifies to LESSOR in writing that (a) LESSEE used, operated, and maintained said equipment throughout the term of this lease in accordance with the manufacturer’s recommendations and all terms of this lease, and (b) said HVAC equipment ceases to operate solely as a result of reasonable wear and tear, then LESSOR or LESSOR’S contractor (only) shall, at LESSOR’S sole discretion, repair and/or replace said equipment, and LESSOR shall be responsible for the payment of all charges to repair and/or replace said equipment, except that LESSEE shall in each 

 

 

instance of repair and/or replacement, be responsible for said charges not to exceed the first $3,500 incurred by LESSOR to effectuate each such repair and/or replacement (said charge in each such instance, the “Initial Charge”). In each such instance, LESSEE shall pay the initial Charge to LESSOR within 10 days following receipt of LESSOR’S invoice therefor. Alt work performed by LESSOR and/or LESSOR’S contractor under this Paragraph K shall be performed during LESSOR’s normal business hours (only). Time is of the essence. All other terms of Paragraph F above shall continue to apply.

L.* LESSOR consents to LESSEE’S limited non-exclusive access to the roof of the building to perform LESSEE’S maintenance obligations as set forth above (only). LESSEE agrees that the roof is a common area of the building and that no other work shall be carried on or any other equipment installed on the roof without the prior written consent of LESSOR. LESSEE shall be fully responsible for, and agrees to indemnify and hold LESSOR and OWNER harmless from, all property damage and personal injury, including death, associated in any way with the activities of LESSEE parties on the roof and/or the location, installation, or maintenance of said equipment on the roof, including, but not limited to, damage to the watertight integrity of the roof and the roof membrane, from whatever cause.

M The annual base rent as provided in Section J above does no! include any charge for use of approximately 3,272 square feet (including 4.7% common area) shown as the hatched area on the mutually agreed upon plan attached hereto (the “Hatched Area”) because LESSEE has represented that LESSEE (i) will not use the Hatched Area and (ii) intends only to use the approximately 3,890 square feet (including 4.7% common area) of unhatched area. LESSEE may, however, elect at any time to use the Hatched Area or any portion thereof, and if LESSEE does use the Hatched Area or any portion thereof in any way other than to occasionally pass through the Hatched Area, then the annual base rent shall be immediately increased by $111,084 for the balance of the lease term.

N.* if LESSEE has not previously elected to use the Hatched Area or any portion thereof, LESSOR may, at LESSOR’s sole expense, remove the Hatched Area from the premises at any time during the lease term by serving LESSEE with five days’ prior written notice to that effect. LESSEE shall move its furniture, furnishings, equipment, inventory, and other property as requested by LESSOR to enable LESSOR to carry out any modifications required to remove the Hatched Area from the premises, and LESSEE shall indemnify and hold harmless LESSOR and LESSOR’S agents, employees and contractors from any and all injury or damage arising out of this work. In the event LESSOR removes the Hatched Area from the premises, the size of the premises shall be decreased by 3,272 square feet (including 4,7% common area) and the base rent set forth in Section 1 above shall remain the same.

O. The parties acknowledge and agree that the utilities serving the Hatched Area, are not separated from the utilities serving the remainder of Suite B, and that LESSEE shall pay all utility charges for the entire suite. If LESSOR leases the Hatched Area to a third, party for any use other than storage, LESSEE’S monthly rent shall be reduced by $409 throughout the third party’s occupancy in order to compensate LESSEE for such third party’s utility usage. Alternatively, LESSOR may, at its election and expense, separate (the utilities serving the Hatched Area and the remainder of Suite B, in which case, LESSEE will not receive a reduction in base rent.

P. LESSOR may elect to cancel this lease for any reason or no reason at all, to be effective on or after December 30, 2016, by serving LESSEE with not less than 90 days’ prior written notice to that effect.

Q.* Sudbury Research Center, LLC, OWNER of the premises referred to in Section 28 above, hereby consents to this lease, and, provided LESSEE is not then in default of this lease, agrees to recognize all rights of LESSEE hereunder.

 

	
LESSOR: CUMMINGS PROPERTIES, LLC
	
 
	
LESSEE: ALLENA PHARMACEUTICALS, INC.

	
 
	
 
	
 

	
By:
	
 
	
/s/ Eric S. Anderson
	
 
	
By:
	
 
	
/s/ Edward Wholihan

	
 
	
 
	
Duly authorized
	
 
	
 
	
 
	
Duly authorized

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Date:
	
 
	
8/8/16
	
 
	
Print name
	
 
	
Edward Wholihan

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
Title:
	
 
	
CFO

 

 

 

 

 

 

 

CUMMINGS PROPERTIES, LLC

STANDARD FORM

LEASE EXTENSION #1

In connection with a lease in the effect between Cummings Properties, LLC, LESSOR, and Allena Pharmaceuticals, Inc., LESSEE, at 142-B North Road, Sudbury, Massachusetts (“premises” or “leased premises”), fully executed on August 18, 2016 and currently scheduled to terminate on August 30, 2017, and in consideration of the mutual benefits to be derived herefrom, the parties hereby agree to amend said lease, including its terms, conditions, covenants, and obligations (“terms”), as follows:

	
 
	
1.
	
The lease is hereby extended for an additional term of one year and six months and is now currently schedule to terminate at noon on February 28, 2019, unless otherwise terminated or extended as provided in the lease, as amended.

	
 
	
2.
	
Effective March 1, 2017, base rent shall be changed to one hundred forty two thousand two hundred sixty (142,260) dollars per year of $11,855 per month.

	
 
	
3.
	
Effective March 1, 2017, the base month from which to determine the amount of each annual increase in the “Cost of Living” shall be November 2016, which figure shall be compared with the figure for November 2017, and each November thereafter to determine the increase (if any) in the base rent to be paid during the following calendar year.

	
 
	
4.*
	
LESSOR, at a total charge to LESSEE of $4,000 to be paid by LESSEE upon LESSEE’s execution of this extension, shall modify the premises according to the mutually agreed upon plan attached hereto within 30 days following full execution of this extension, approval of final plans and specifications (if any), and LESSOR’s receipt of a building permit for said modifications.

	
 
	
5.
	
Notwithstanding monthly rent as provided in Section 2 above, LESSEE may deduct $1,434.50 from the monthly rental payment due for the month of March 2017 (only), provided LESSEE is not then in arrears of any rent or invoice payment or otherwise in default of the lease.

	
 
	
6.
	
Paragraph M of the Rider to Lease is hereby deleted and the following shall not apply. The annual base rent as provided in Section 2 above does not include any charge for use of approximately 2,029 square feet (including 4.7% common area) shown as the hatched area on the attached plan (the “Hatched Area”) because LESSEE has represented that LESSEE (i) will not use the Hatched Area and (ii) intends only to use the approximately 3,890 square feet (including 4.7% common area) of unhatched area and the approximately 1,243 square feet (including 4.7% common area) shows as the cross-hatched area on the attached plan (the “Cross-Hatched Area). LESSEE may, however, elect at any time to use the Hatched Area or any portion thereof, and if LESSEE does use the Hatched Area or any portion thereof in any way other than to pass through the Hatched Area, then the annual based rent shall be immediately increased by $56,272 for the balance of the lease term.

	
 
	
7.
	
Paragraph N of the Rider to Lease is hereby deleted and the following shall now apply. If LESSEE has not previously elected to use the Hatched Area or any portion thereof, LESSOR may, at LESSOR’s sole expense, remove the Hatched Area or portion(s) thereof from the premises from time to time during the lease term by serving LESSEE with at least five days’ prior written notice to that effect. LESSEE shall move its furniture, furnishings, equipment, inventory, and other property as requested by LESSOR to enable LESSOR to carry out any modifications required for such removal, and LESSEE shall indemnify and hold harmless LESSOR and LESSOR’s agents, employees and contractors from any and all injury or damage arising out of this work. In the event LESSOR removes the Hatched Area or portion(s) thereof from the premises, the size of the premises shall be decreased by the number of square feet so removed (including 4.7% common area) and the then-current annual base rent shall remain the same.

	
 
	
8.
	
Paragraph O of the Rider to Lease is hereby deleted and the following shall now apply. The parties acknowledge and agree that the utilities serving the Hatched Area are not separated from the utilities serving the remainder of Suite B, and that LESSEE shall pay all utility charges for the entire suite. If LESSOR leases all or any portion of the Hatched Area to a third party for any use other than storage, LESSEE’s then-current annual rent shall be reduced by the product of the number of square feet so removed and $1.50 throughout the third party’s occupancy (to be apportioned on a monthly basis) in order to compensate LESSEE for such third party’s utility usage. Alternatively, LESSOR may, at its election and expense, separate the utilities serving the Hatched Area or the applicable portion thereof, as the case may be, and the remainder of Suite B, in which case, LESSEE will not receive a reduction in base rent.

 

 

	
 
	
9.
	
If LESSEE has not elected to use the Hatched Area or any portion thereof as provided in Section 6 above, and LESSOR has not removed the Hatched Area or any portion thereof as provided in Section 7 above, LESSOR may elect to remove the Cross-Hatched Area or any portion thereof from the premises at any time during the lease term by serving LESSEE with at least 60 days’ prior written notice to that effect. LESSOR’s notice shall specify (i) the configuration of the Cross-Hatched Area to be removed, (ii) the effective date of such removal (the “Recapture Area”). The square footage of the Relocation Area shall not be less than the square footage of the Cross-Hatched Area removed by LESSOR. Effective on the Recapture Date, (a) the square footage of the Cross-Hatched Area shall be reduced in accordance with the reconfiguration in subsection (i) above, and (b) the square footage of the Hatched Area shall be reduced by the number of square feet in the Relocation Area, in accordance with subsection (iii) above without any increase or decrease in base rent. LESSEE shall move its furniture, furnishings, equipment, inventory, and other property as requested by LESSOR to enable LESSOR carry out any modifications required to remove the Cross-Hatched Area or the applicable portion thereof, as the case may be, from the premises, and LESSEE shall indemnify and hold harmless LESSOR and LESSOR’s agents, employees, and contractors from any and all injury or damage arising out of this work. LESSEE shall vacate the Cross-Hatched Area or the applicable portion thereof, as the case may be, on or before 12:00 PM on the Recapture Date, and any extended occupancy of the Cross-Hatched Area or the applicable portion thereof, as the case may be, shall be governed by Section 22 of the lease. All other terms of Section 6 above shall continue to apply. Time is of the essence.

 

	
 
	
10.
	
In consideration of this extension, Paragraph P of the Rider to Lease is hereby deleted and of no further force or effect.

This extension shall not bind any party in any manner whatsoever until it has been executed by all parties. All other terms of the lease shall continue to apply, and to the extent any inconsistency exists between this extension and the lease, including any prior amendments and extensions, the terms herein shall control and supersede any earlier provisions. In witness whereof, LESSOR and LESSEE, intending to be legally bound, have caused this extension to be executed this 28th day of February, 2017.

 

	
LESSOR: CUMMINGS PROPERTIES, LLC
	
 
	
LESSEE: ALLENA PHARMACEUTICALS, INC.

	
 
	
 
	
 

	
By:
	
 
	
/s/ Ernest Agresti, Jr.
	
 
	
By:
	
 
	
/s/ Edward Wholihan

	
 
	
 
	
Duly authorized
	
 
	
 
	
 
	
Duly authorized

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
Print Name:
	
 
	
Edward Wholihan

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
Title:
	
 
	
CFO

 

 

 

CUMMINGS PROPERTIES, LLC

STANDARD FORM

LEASE EXTENSION #2

In connection with a lease in effect between Cummings Properties, LLC, LESSOR, and Allena Pharmaceuticals Inc.

LESSEE, al 142-B North Road

Sudbury,  Massachusetts  ("premises” or  ' leased premises, ")  fully  executed  on    August  18 ,  20 16    and  currently  scheduled  lo  terminate  on

February 28, 2019   , and in consideration of the mutual benefits to be derived herefrom, the parties hereby agree to amend said lease, including its terms, conditions, covenants, and obligations ("terms") as follows:

	
 
	
1.
	
The lease is hereby extended for an additional term of two years and is now currently scheduled to terminate at noon on February 28, 2021, unless otherwise terminated or extended as provided in the lease, as amended.

	
 
	
2.
	
Effective upon the RA Vacate Date (defined below) base rent shall be changed to one hundred thirty two thousand one hundred twenty six (132.l 26)   dollars per year or $11,050.00 per month.

	
 
	
3.
	
Effective upon the RA Vacate Date (defined below), the base month from which to determine the amount of each annual! increase in the "Cost of Living" shall be November 20 I 7 , which figure shall be compared with the figure for November 2018 , and each November thereafter lo determine the increase (if any) in the base rent be paid during the following calendar year.

	
 
	
4.
	
THIS PARAGRAPH DOES NOT APPLY

	
 
	
5.
	
Effective  upon the S-175   Delivery  Date (defined  below), the size of  the  premises  shall  be decreased  to a new total of approximately 4,636 square  feet  with  the  relinquishment of a  portion  of  142-B  North Road   shown   as    the    hatched    area   on    the   mutually   agreed    upon    plan   attached    hereto   (the " Relinquishment Area") and the addition of 142-F North  Road,  Suite  175. The  premises  shall  then consist of approximately 2,558 square feet (including 4.7% common area) at 142- B, and  approximately 2,078 square  feet  (including  12%  common  area)  at Suite  175.  Notwithstanding anything  to  the contrary in this section, LESSEE  may continue to occupy  the Relinquishment Area  until  1 2:00  PM on the tenth  day following the S- 1 75 Delivery Date  without  any obligation  to pay  additional  rent  beyond  that  set forth in Sections 2 and 3 of Lease Extension #1, on account of LESSEE's concurrent occupancy of the Relinquishment    Area,  142-8  ,  and  Suite  175.  Any  occupancy  of  the  Relinquishment  Area  beyond   12 : 00 PM on the tenth day following tbc S-175 Delivery Date, or any  earlier  date  upon  which  LESSOR's Work (defined below) would have  been  substantially  completed  but  for  any  LESSEE delays(s) (defined below), shall be governed by Section 22 of the  lease. The date upon which LESSEE fully vacates the Relinquishment Area as provided herein shall be known as the "RA Vacate Date." LESSEE shall, upon vacating, be responsible  for all  damage  to  the Relinquishment  Area  in  accordance with  the lease, and shall  promptly pay all  just  invoice(s)  therefor. Time is of the essence.

	
 
	
6.
	
LESSOR, at LESSOR's cost, shall, with the exception of infilling one opening between the Relinquishment Area and the remainder of 14 2-B, substantially complete, except for punch list items, modifications to the premises according to the mutually agreed upon plan attached hereto ("LESSOR's Work ") within 45 days following full execution of this extension, approval of final plans and specifications (if any), and LESSOR's receipt of a building permit for LESSOR's Work. The first business day following the date upon which LESSOR substantially completes LESSOR's Work at Suite 175 (only) shall be known as the "S-175 Delivery Date." LESSOR shall endeavor to advise LESSEE at least seven days prior to the anticipated S-175 Delivery Date. LESSOR shall substantially complete infilling the excepted opening referenced above within five days following the RA Vacate Date.

	
 
	
7.
	
LESSEE shall move its furniture, furnishings, equipment, inventory, and other property as reasonably requested by LESSOR to enable LESSOR to carry out LESSOR’s Work, which shall be   performed during LESSOR's normal business hours (only). in the event LESSEE in any way delays LESSOR's substantial  completion  of  LESSOR' s  Work  (which  shall  include  without  limitation  any  additions and/or changes requested by LESSEE to the scope of LESSOR's Work , any delay in LESSEE making payment to LESSOR under the lease, any delay in LESSEE providing information to LESSOR for any permits and/or plans, any delay in LESSEE providing prompt and timely access to  the  premises  to  LESSOR including moving its property for LESSOR's Work as provided for herein ,  and/or  any interference by LESSEE parties with LESSOR's Work) (any such  delay,  a  " LESSEE delay"),  there shall be no abatement of rent for the number of days of LESSEE delay(s), and the above time frame for substantial completion  shall  be  extended  by  the  number  of days of  LESSEE  delay(s). Time is of the essence.

 

 

	
 
	
8.
	
Notwithstanding monthly rent as provided in Section 2 above, LESSEE may deduct $ 10,000 from the monthly rental payment due on the first day of the first calendar month following the RA Vacate Date (only), provided LESSEE  is not  then  in arrears of any  rent or  invoice  payment  or otherwise  in default  of the Lease.

	
 
	
9.
	
In consideration of this extension, effective upon the RA Vacate Date, Sections 6, 7, 8, and 9 of Lease Extension #1 shall be deleted and of no further force or effect, except that Paragraphs M, N, and O of the Rider to Lease shall remain deleted and of no force or effect.

This extension shall not bind any party in any manner whatsoever until it has been executed by all parties. Ali other terms of the lease shall continue to apply, and to the extent any inconsistency exists between this extension and the lease, including any prior amendments and extensions, the terms herein shall control and supersede earlier provisions. In witness whereof LESSOR and LESSEE, intending to be legally bound, have caused this extension to be executed this 30th day of March, 2018.

 

	
LESSOR: CUMMINGS PROPERTIES, LLC
	
 
	
LESSEE: ALLENA PHARMACEUTICALS, INC.

	
 
	
 
	
 

	
By:
	
 
	
/s/ Ernest Agresti, Jr.
	
 
	
By:
	
 
	
/s/ Edward Wholihan

	
 
	
 
	
Duly authorized
	
 
	
 
	
 
	
Duly authorized

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
Print Name:
	
 
	
Edward Wholihan

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
Title:
	
 
	
CFO

 

 

 

 

 

 

	
Allena Pharmaceuticals, lnc.
	
Relinquishment

	
 
	
Area= 4.617±LSF

	
142 Band F-175 North Road, Sudbury, MA
	
 

 

 

 

CUMMINGS PROPERTIES, LLC

STANDARD FORM

AMENDMENT TO LEASE #1

In connection with a lease in effect between Cummings Properties. LLC. LESSOR and .Allena Pharmaceuticals, Inc.

LESSEE at   142•B North Road and 142-F North Road. Suite 175 

Sudbury Massachusetts ("premises•• or "leased premises”) fully executed on August 18, 2016 and currently scheduled to terminate on February   28, 2021, unless otherwise terminated or extended as provided in the !ease  as amended and  in  consideration of the mutual benefits to be  derived  herefrom  the parties hereby  agree to amend said lease,  including its terms, conditions,  covenants,  and  obligations (“terms”) as follows•

 

	
 
	
1.
	
Effective September 15, 2018 base rent shall be changed to One hundred eighty four thousand six hundred eighty three (184,683) dollars per year or $ 15,390.25 per month.

	
 
	
2.
	
Effective September 15, 2018_the base month from which to determine the amount of each annual increase in the “Cost of Living" shall"' be November 2017, which figure shall be compared with the figure for November 2018, and each November thereafter to determine the increase (if any) in the base rent to be paid during the following calendar year.

*remain

	
 
	
3.
	
Effective September 15. 2018, the size of the premises shall  be  increased  with  the  addition  of approximately 2,928 square feet (including 13%, common area) at 144 North Road, Suite I 000. The premises shall then consist of approximately 2,558 square feet (including  4.7%  common  area)  at  142-B North Road, approximately 2,078 square feet (including  12%  common area)  at  142-F  North  Road, Suite 175, and  approximately 1,928 square  feet  (including  13% common area) at  Suite 1000.

	
 
	
4.
	
LESSOR, at LESSOR’s cost, shall modify Suite 1000 according to the mutually agreed upon plan attached hereto within 15 days following full execution of this extension and approval of final plans and specifications (if any).

	
 
	
5.
	
* Notwithstanding the monthly rental payment amount provided in Sections 1 and 2 above, LESSEE may deduct $1,129.35 per month (to be apportioned for any partial month) from each monthly rental payment due from September 15, 2018 through February 28, 2021 (only), provided, at the time each such payment is due, LESSEE is not then in arrears of any rent (excluding the monthly rental payment then due) or invoice payment or otherwise in default of the lease.

This amendment shall not bind any party in any manner whatsoever until it has been executed by all parties. All other terms of the lease shall continue to apply, and to the extent any inconsistency exists between this amendment and the lease, including any prior amendments and extensions, the terms herein shall control and supersede any earlier provisions. In witness hereof, LESSOR and LESSEE, intending to be legally bound, have caused this amendment to be executed this 31st day of August, 2018.

 

	
LESSOR: CUMMINGS PROPERTIES, LLC
	
 
	
LESSEE: ALLENA PHARMACEUTICALS, INC.

	
 
	
 
	
 

	
By:
	
 
	
/s/ Ernest Agresti, Jr.
	
 
	
By:
	
 
	
/s/ Edward Wholihan

	
 
	
 
	
Duly authorized
	
 
	
 
	
 
	
Duly authorized

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
Print Name:
	
 
	
Edward Wholihan

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
Title:
	
 
	
CFO

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00289-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00289-of-00352.parquet"}]]