Document:

Exhibit

Exhibit 10.2
[***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II)  WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

FIRST AMENDMENT TO OFFICE LEASE
This FIRST AMENDMENT TO OFFICE LEASE (this "First Amendment") is made and entered into as of the 14th day of April, 2020, by and between KILROY REALTY, L.P., a Delaware limited partnership ("Landlord"), and EVOFEM BIOSCIENCES, INC., a Delaware corporation ("Tenant").
R E C I T A L S :
A.    Landlord and Tenant entered into that certain Office Lease dated October 3, 2019 (the " Lease"), whereby Landlord leased to Tenant and Tenant leased from Landlord those certain premises consisting of approximately 24,474 rentable square feet of space (the "Existing Premises"), designated in the Lease as Suite 600, on the sixth (6th) floor of that certain building (the "Building") located at 12400 High Bluff Drive, San Diego, California 92130.
B.    Tenant has exercised its First Refusal Right pursuant to Section 1.4 of the Lease, with respect to the Expansion Premises (defined below).  Accordingly, Landlord and Tenant desire (i) to expand the Existing Premises to include that certain space consisting of 8,816 rentable square feet of space (the "Expansion Premises"), on the sixth (6th) floor of the Building, as delineated on Exhibit A attached hereto and made a part hereof, and (ii) to make other modifications to the Lease, and (iii) in connection therewith, to amend the Lease as hereinafter provided.  
A G R E E M E N T :
NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1.Capitalized Terms.  All capitalized terms when used herein shall have the same meaning as is given such terms in the Lease unless expressly superseded by the terms of this First Amendment.
2.    Modification of Premises.  The "Expansion Commencement Date" shall be the earlier to occur of (i) the date of Substantial Completion of the Improvements in the Expansion Premises (excepting any industry standard punchlist items), and (ii) September 1, 2020, [***].  

3.    Base Rent.  
3.1.    Existing Premises.  Notwithstanding anything to the contrary in the Lease as hereby amended, Tenant shall pay Base Rent for the Existing Premises in accordance with the terms of the Lease.  
3.2.    Expansion Premises.  
3.2.1    In General.  Commencing on the Expansion Commencement Date and continuing throughout the Expansion Term, Tenant shall pay to Landlord monthly installments of Base Rent for the Expansion Premises as follows:  
	
				
	

Period During Expansion Term
	

Annual Base Rent
	

 
Monthly Installment of Base Rent
	Monthly Rental Rate per Rentable Square Foot*

	Expansion Commencement Date – March 31, 2021◊
	$518,380.80
	$43,198.40
	$4.90

	April 1, 2021 – March 31, 2022
	$533,932.20
	$44,494.35
	$5.05**

	April 1, 2022 – March 31, 2023
	$549,950.16
	$45,829.18
	$5.20**

	April 1, 2023 – March 31, 2024
	$566,448.72
	$47,204.06
	$5.35**

	April 1, 2024 – March 31, 2025
	$583,442.16
	$48,620.18
	$5.51**

	April 1, 2025 – September 30, 2025
	$600,945.48
	$50,078.79
	$5.68**

◊  [***].
*  The initial Annual Base Rent amount was calculated by multiplying the initial Annual Rental Rate per Rentable Square Foot amount by the number of rentable square feet of space in the Expansion Premises, and the initial Monthly Installment of Base Rent amount was calculated by dividing the initial Annual Base Rent amount by twelve (12).  In all subsequent Base Rent payment periods during the Expansion Term commencing on April 1, 2021, the calculation of each Annual Base Rent amount reflects an annual increase of three percent (3%) and each Monthly Installment of Base Rent amount was calculated by dividing the corresponding Annual Base Rent amount by twelve (12).
**  The amounts identified in the column entitled "Monthly Rental Rate per Rentable Square Foot" are rounded amounts and are provided for informational purposes only.
Concurrently with Tenant's execution of this First Amendment, Tenant shall pay to Landlord the monthly installment of Base Rent payable for the Expansion Premises for the first (1st) full month of the Expansion Term.

3.2.2    Rent Abatement.  Notwithstanding anything to the contrary in this First Amendment, provided that no event of default is occurring beyond the expiration of any applicable notice and cure period, with respect to the Expansion Base Rent Abatement Period, Tenant shall not be obligated to pay Base Rent otherwise attributable to the Expansion Premises (the "Expansion Base Rent Abatement").  Tenant acknowledges and agrees that during such Expansion Base Rent Abatement Period, such abatement of Base Rent for the Expansion Premises shall have no effect on the calculation of any future increases in Base Rent or Direct Expenses payable by Tenant pursuant to the terms of the Lease, as amended, which increases shall be calculated without regard to such Expansion Base Rent Abatement.  Tenant acknowledges and agrees that the foregoing Expansion Base Rent Abatement has been granted to Tenant as additional consideration for entering into this First Amendment, and for agreeing to pay the Base Rent and perform the terms and conditions otherwise required under the Lease, as amended.  If Tenant shall be in default under the Lease, as amended, and shall fail to cure such default within the notice and cure period, if any, permitted for cure pursuant to the Lease, as amended, or if the Lease, as amended, is terminated for any reason other than Landlord's breach of the Lease, as amended, then the dollar amount of the unapplied portion of the Expansion Base Rent Abatement as of the date of such default or termination, as the case may be, shall be converted to a credit to be applied to the Base Rent applicable at the end of the Expansion Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.  The foregoing Expansion Base Rent Abatement right set forth in this Section 3.2.2 shall be personal to the Original Tenant and its Permitted Transferee Assignee and shall only apply to the extent that the Original Tenant or its Permitted Transferee Assignee (and not any assignee, or any sublessee or other transferee of the Original Tenant's interest in the Lease, as amended) is the Tenant under the Lease, as amended, during such Expansion Base Rent Abatement Period.
4.    Tenant's Share of Direct Expenses.  Tenant shall pay Tenant's Share of Direct Expenses in connection with, collectively, the Existing Premises and the Expansion Premises throughout the Lease Term in accordance with the terms of the Lease, provided that, effective as of the Expansion Commencement Date, Tenant's Share shall equal [***] with respect to the entire Premises (i.e., the Existing Premises and the Expansion Premises).  
5.    Condition of Premises.  
5.1.    Existing Premises.  Except as expressly set forth in the Lease to the contrary, Landlord makes no representation, warranty or promise as to the condition of the Existing Premises, the Building, or the Project or their suitability for the purpose intended by Tenant, and Landlord and Tenant acknowledge that Tenant shall continue to accept the Existing Premises, the Building and Project in their then presently existing, "as is" condition, pursuant to the Lease, but subject to the express obligations of Landlord specifically set forth in the Lease and in Section 7 of this First Amendment, below, pertaining to the condition of the Existing Premises.  Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Existing Premises, except as set forth in the Lease (including the Work Letter attached to the Lease as Exhibit B).

5.2.    Expansion Premises.  Except as expressly set forth in the Lease, as hereby amended, to the contrary, (i) Landlord makes no representation, warranty or promise as to the condition of the Expansion Premises or the suitability for the purpose intended by Tenant, (ii) Tenant shall continue to accept the Expansion Premises in its presently existing, "as is" condition, and (iii) Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Expansion Premises beyond those identified in this First Amendment.
6.    Improvements; Allowances.  Notwithstanding any provision to the contrary contained herein or in the Lease, the Improvement Allowance is hereby increased by Three Hundred Eight Thousand Five Hundred Sixty and No/100 Dollars ($308,560.00) applicable to the Expansion Premises and an additional One Hundred and Twenty Two Thousand Three Hundred Seventy and No/100 Dollars ($122,370.00) applicable to the Existing Premises, all of which may be used to improve any portion of the Premises.  [***].    
7.    Landlord Work.  Notwithstanding anything to the contrary in the Lease, Landlord shall not construct the Demising Walls pursuant to Section 1.1 of the Work Letter to the extent that such construction would have provided for the separation of the Existing Premises (including systems and facilities serving the Existing Premises) from the Expansion Premises.  
8.    [***].
9.    Deletions.  Section 1.4 of the Lease and Exhibit A-1 attached to the Lease are hereby deleted in their entirety and of no further force or effect.  All provisions of the Lease referring to portions of the Premises (as expanded hereby) as the “Temporary Space” (including, without limitation, Section 1.3 of the Work Letter) are hereby deleted and of no further force or effect.  The final sentence of Section 4.2.1 of the Work Letter is hereby deleted in its entirety and of no further force or effect.  The final sentence of Section 5.3 of the Work Letter is hereby deleted in its entirety.
10.    [***].
11.    Brokers.  Landlord and Tenant hereby warrant to each other that they have had no dealings with any real estate broker or agent in connection with the negotiation of this First Amendment other than [***] (the "Brokers"), and that they know of no other real estate broker or agent who is entitled to a commission in connection with this First Amendment.  Each party agrees to indemnify and defend the other party against and hold the other party harmless from any and all claims, demands, losses, liabilities, lawsuits, judgments, and costs and expenses (including, without limitation, reasonable attorneys' fees) with respect to any leasing commission or equivalent compensation alleged to be owing on account of the indemnifying party's dealings with any real estate broker or agent, other than the Brokers.  Landlord shall pay a commission to the Brokers in connection with this First Amendment pursuant to the terms of a separate written agreement between Landlord and each of the Brokers.  The terms of this Section 11 shall survive the expiration or earlier termination of the term of the Lease, as hereby amended.
12.    Parking.  Notwithstanding anything to the contrary contained in the Lease, commencing as of the Expansion Commencement Date, Tenant shall have the right, but not the obligation, to use up to [***] additional unreserved parking passes beyond those already identified 

in the Lease, of which, at Tenant's discretion from time to time, up to [***] of such additional parking passes may be used by Tenant as reserved parking spaces at a rate of [***] per month per space, with respect to the Expansion Premises (the "Expansion Parking Passes"), subject to and in accordance with the terms and conditions of Article 28 the Lease.  
13.    Letter of Credit.  Notwithstanding anything to the contrary in the Lease, the L-C under the Lease shall be increased by $50,000.00, so that the new L-C Amount under the Lease, as amended, shall initially equal $800,000.00.  Tenant shall deliver to Landlord, within thirty (30) days of the mutual execution and delivery of this First Amendment, an amendment to the L-C increasing the amount of the L-C to the L-C Amount (i.e., $800,000.00), in the form required by the Lease.  Notwithstanding anything to the contrary in the Lease, the table in Section 21.3.2 of the Lease shall be replaced with the following:
	
		
	Date of Reduction
	Resulting L-C Amount

	Fourth (4th) anniversary of the Lease Commencement Date
	$640,000.00

	Fifth (5) anniversary of the Lease Commencement Date
	$480,000.00

14.    California Required Disclosures.  Notwithstanding anything to the contrary in the Lease, Article 24 shall apply with respect to the entire Premises (i.e., the Existing Premises and the Expansion Premises).  
15.    No Further Modification.  Except as set forth in this First Amendment, all of the terms and provisions of the Lease shall apply with respect to the Expansion Premises and shall remain unmodified and in full force and effect.  In the event of any conflict between the terms and conditions of the Lease and the terms and conditions of this First Amendment, the terms and conditions of this First Amendment shall prevail.

IN WITNESS WHEREOF, this First Amendment has been executed as of the day and year first above written.  
	
		
	 
	"LANDLORD":
KILROY REALTY, L.P., 
a Delaware limited partnership
By:   Kilroy Realty Corporation, 
a Maryland corporation 
Its: General Partner
By:                
Name:                
Its:               
By:                
Name:                
Its:               
"TENANT":
EVOFEM BIOSCIENCES, INC.,
a Delaware corporation
By:                
Name:                
Its:               
By:                
Name:                
Its:               

EXHIBIT A
OUTLINE OF EXPANSION PREMISESEX-10.1

 Exhibit 10.1 
  

 
 U.S. Small Business Administration 

PAYCHECK PROTECTION PROGRAM LOAN NOTE 
  

			
	SBA Loan Name	  	Electrocore, Inc.
		
	Date	  	05/02/2020
		
	Loan Amount	  	$ 1,409,300.00
		
	Interest Rate	  	1.00%
		
	Borrower	  	Electrocore, Inc.
		
	Lender	  	Citibank, N.A.
		
	Maturity Date	  	5/2/2022

  

	1.	 PROMISE TO PAY: 

In return for the Loan, Borrower promises to pay to the order of Lender the Loan Amount specified above, interest on the unpaid principal
balance, and all other amounts required by this Note as specified below. 
  

	2.	 DEFINITIONS: 

“Loan” means the loan evidenced by this Note. 

“Loan Documents” means the documents related to the Loan signed and delivered by Borrower. 

“SBA” means the Small Business Administration, an Agency of the United States of America. 

 

	3.	 PAYMENT TERMS: 

Borrower must make all payments at the place Lender designates. The payment terms for this Note are: 

The interest rate is fixed as specified above and will not change during the life of the Loan. 

No payments are due on the Loan for six (6) months (the “Deferment Period”) from the date of first
disbursement of the Loan. Interest will continue to accrue during the Deferment Period. Borrower must make principal and interest payments every month beginning in the month immediately following the end of the Deferment Period (the “Payment
Commencement Date”) in an amount calculated at the interest rate specified herein and based on the amount of the unpaid principal balance hereunder as of the Payment Commencement Date and a final payment on the Maturity Date equal to all unpaid
interest, principal, and fees. Payments must be made on the same calendar day of each month as the date of this Note in the months they are due. Borrower shall also pay on the Payment Commencement Date all accrued interest on the unpaid
principal balance of this Note from the date of first disbursement of the Loan through the Payment Commencement Date. 

  

					
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 U.S. Small Business Administration 

PAYCHECK PROTECTION PROGRAM LOAN NOTE 
  

 Lender will apply each installment payment first to pay interest accrued on the Loan to the
day Lender receives the payment, then to bring principal current, then to pay any late fees, and then to any remaining balance to reduce the outstanding principal balance of this Note. 

NOTICE - LOAN FORGIVENESS: Borrower may apply through Lender for forgiveness of the amount due on this Loan in an amount equal to the sum of
the following costs incurred by Borrower during the 8-week period (or any other period that may hereafter be authorized by SBA) beginning on the date of first disbursement of the Loan: 

a. Payroll costs 

b. Any payment of interest on a covered mortgage obligation (which shall not include any prepayment of or payment of
principal on a covered mortgage obligation) 
 c. Any payment on a covered rent obligation 

d. Any covered utility payment 

The amount of Loan forgiveness shall be calculated (and may be reduced) in accordance with the requirements of the Paycheck Protection
Program, including the provisions of Section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (P.L. 116-136). Borrower covenants and agrees to use the Loan only for purposes
authorized by the CARES Act. Not more than twenty-five (25%) percent of the amount forgiven can be attributable to non-payroll costs. The amount of each monthly Loan payment due hereunder will change to the
extent SBA determines that Borrower has met the eligibility requirements under the CARES Act and pays to Lender the amount of the Loan that is entitled to forgiveness. If the entire principal amount of the Loan is forgiven and the Note indebtedness
is paid to Lender by the SBA, no further principal payments under this Note shall be payable by Borrower. 
  

	4.	 LOAN PREPAYMENT/LATE CHARGE: 

Notwithstanding any provision of this Note to the contrary, Borrower may prepay all or any part of the unpaid principal balance of this Note
without premium or penalty at any time without notice. Borrower may prepay twenty (20%) percent or less of the unpaid principal balance at any time without notice. If Borrower prepays more than twenty (20%) percent and the Loan has been sold on the
secondary market, Borrower must (a) give Lender written notice; (b) pay all accrued interest; and (c) if the prepayment is received less than twenty-one (21) days from the date Lender
received the notice, pay an amount equal to twenty-one (21) days interest from the date Lender received the notice, less any interest accrued during the twenty-one
(21) days and paid under (b) of this paragraph. If Borrower does not prepay within thirty (30) days from the date Lender received the notice, Borrower must give Lender a new notice. 

All unpaid principal and accrued interest is due and payable two years from the date of this Note. 

Late Charge: If a payment on this Note is more than 15 days late, Lender may charge Borrower a late fee of up to 

4.00% of the unpaid portion of the regularly scheduled payment. 

 

	5.	 REPRESENTATIONS AND WARRANTIES: 

Borrower represents and warrants to Lender as of the date of this Note that: 

 

	 	A.	 Borrower is duly organized, validly existing, and in good standing under and by virtue of the laws of the state
in which it has been formed. 

  

					
		  	Page 2/5	  	

 

 
 U.S. Small Business Administration 

PAYCHECK PROTECTION PROGRAM LOAN NOTE 
  

	 	B.	 Borrower is duly authorized to transact business in all other states in which Borrower is doing business,
having obtained all necessary filings, governmental licenses and approvals for each state in which Borrower is doing business; Borrower’s execution, delivery, and performance of this Note and any Loan Documents have been duly authorized by all
necessary action by Borrower and do not conflict with, result in a violation of, or constitute a default under (1) any provision of (a) Borrower’s articles of incorporation or organization, or bylaws, or (b) any agreement or
other instrument binding upon Borrower, or (2) any law, governmental regulation, court decree, or order applicable to Borrower or to Borrower’s properties. 

 

	 	C.	 This Note has been duly executed and delivered by the undersigned as a duly authorized representative of
Borrower, and is Borrower’s legal, valid and binding obligation enforceable against Borrower in accordance with its terms. 

  

	 	D.	 All financial, tax, payroll costs, and other information submitted to Lender, including in connection with
Borrower’s application for the loan evidenced by this Note is true, correct, and complete as of the date of this Note. 

  

	6.	 DEFAULT: 

Borrower will be in default under this Note if Borrower does not make a payment when due under this Note, or if Borrower: 

 

	 	A.	 Fails to do anything required by this Note or in any document executed or delivered in connection with this
Note; 

  

	 	B.	 Defaults on any other loan with Lender; 

 

	 	C.	 Does not disclose, or anyone acting on their behalf does not disclose, any material fact to Lender or SBA;

  

	 	D.	 Makes, or anyone acting on their behalf makes, a materially false or misleading representation, information
submission, or certification to Lender or SBA, including in respect of any representation or warranty contained in this Note; 

  

	 	E.	 Defaults on any loan or agreement with another creditor, if Lender believes the default may materially affect
Borrower’s ability to pay this Note; 

  

	 	F.	 Fails to pay any taxes when due; 

 

	 	G.	 Becomes the subject of a proceeding under any bankruptcy or insolvency law; 

 

	 	H.	 Has a receiver or liquidator appointed for any part of their business or property; 

 

	 	I.	 Makes an assignment for the benefit of creditors; 

 

	 	J.	 Has any adverse change in financial condition or business operation that Lender believes may materially affect
Borrower’s ability to pay this Note; 

  

	 	K.	 Reorganizes, merges, consolidates, or otherwise changes ownership or business structure without Lender’s
prior written consent; or 

  

	 	L.	 Becomes the subject of a civil or criminal action that Lender believes may materially affect Borrower’s
ability to pay this Note. 

  

	7.	 LENDER’S RIGHTS IF THERE IS A DEFAULT: 

Without notice or demand and without giving up any of its rights, Lender may: 

 

	 	A.	 Require immediate payment of all amounts owing under this Note; 

 

	 	B.	 Collect all amounts owing from any Borrower; or 

 

	 	C.	 File suit and obtain judgment. 

  

					
		  	Page 3/5	  	

 

 
 U.S. Small Business Administration 

PAYCHECK PROTECTION PROGRAM LOAN NOTE 
  

	8.	 LENDER’S GENERAL POWERS: 

Without notice and without Borrower’s consent, Lender may: 
  

	 	A.	 Incur expenses to collect amounts due under this Note, enforce the terms of this Note or any other Loan
Document. Among other things, the expenses may include payments for prior liens and reasonable attorney’s fees and costs. If Lender incurs such expenses, it may demand immediate repayment from Borrower or add the expenses to the principal
balance of this Note; 

  

	 	B.	 Release anyone obligated to pay this Note; and 

 

	 	C.	 Take any action necessary to collect amounts owing on this Note. 

 

	9.	 WHEN FEDERAL LAW APPLIES: 

When SBA is the holder, this Note will be interpreted and enforced under federal law, including SBA regulations. As to this Note, Borrower may
not claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law. 
  

	10.	 NON-RECOURSE: 

Lender and SBA shall have no recourse against any individual shareholder, member or partner of Borrower for
non-payment of the Loan, except to the extent that such shareholder, member or partner uses the Loan proceeds for an unauthorized purpose. 

 

	11.	 SUCCESSORS AND ASSIGNS: 

Under this Note, Borrower includes any of its successors, and Lender includes its successors and assigns. 

 

	12.	 GENERAL PROVISIONS: 

 

	 	A.	 All individuals and entities signing this Note are jointly and severally liable. 

 

	 	B.	 Borrower waives all suretyship defenses. 

 

	 	C.	 Borrower must sign all documents necessary at any time to comply with the Loan Documents.

  

	 	D.	 Lender may exercise any of its rights separately or together, as many times and in any order it chooses. Lender
may delay or forgo enforcing any of its rights without giving up any of them. 

  

	 	E.	 Borrower may not use an oral statement of Lender or SBA to contradict or alter the written terms of this Note.

  

	 	F.	 If any part of this Note is unenforceable, all other parts remain in effect. 

 

	 	G.	 To the extent allowed by law, Borrower waives all demands and notices in connection with this Note, including
presentment, demand, protest, and notice of dishonor. 

  

	 	H.	 Borrower shall use all Loan proceeds solely for Borrower’s business operations and strictly in accordance
with the requirements of the CARES Act. 

  

	 	I.	 Until such time as all of Borrower’s Loans have been either forgiven or paid in full and this Note has
been cancelled, Borrower agrees to maintain its Primary Demand Deposit Account with Lender. “Primary Demand Deposit Account” means the business demand deposit account into which substantially all of Borrower’s receipts from its
operations are deposited and from which substantially all of Borrower’s disbursements for its operations are made. 

  

	 	J.	 Except as otherwise provided in Section 9 hereof, this Note shall be governed by and construed in
accordance with the laws of the State of New York, without regard to its conflicts of law provisions. 

  

	 	K.	 If there is a lawsuit, Borrower agrees, upon Lender’s request, to submit to the jurisdiction of the courts
of New York County, State of New York. Nothing herein shall affect the right of the Lender to bring any action or proceeding against the Borrower in the courts of any other jurisdiction. 

  

					
		  	Page 4/5	  	

 

 
 U.S. Small Business Administration 

PAYCHECK PROTECTION PROGRAM LOAN NOTE 
  

	 	L.	 BORROWER HEREBY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM ARISING UNDER
OR IN CONNECTION WITH THIS NOTE OR ANY LOAN DOCUMENT TO THE EXTENT PERMITTED BY APPLICABLE LAW. 

  

	 	M.	 Delivery of an executed counterpart of a signature page of this Note by telecopy or other digital or electronic
imaging means shall be effective as delivery of a manually executed counterpart of this Note. 

  

	13.	 BORROWER’S NAME(S) AND SIGNATURE(S): 

By signing below, each entity becomes obligated under this Note as Borrower. 

FOR LEGAL ENTITIES: 
 Name of Borrower: Electrocore, Inc. 

 

			
	By:	 	 /s/ Brian Posner

	Name:	 	Brian Posner
	Title:	 	Chief Financial Officer

  

					
		  	Page 5/5

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