Document:

Exhibit
10.23(a)

 

CERTAIN
IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT BOTH (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY
HARMFUL IF PUBLICLY DISCLOSED.

 

TEXT
OMITTED FROM THIS EXHIBIT IS MARKED WITH [***]

 

LEASE
AGREEMENT

 

    	1

     

    

 

Table
of Contents

 

	 	Page
                                         

        

	 	 
	ARTICLE
    I. LEASED PREMISES	1
	Section
    1.1	1
	Section
    1.2	1
	Section
    1.3	1
	Section
    1.4	2
	 	 
	ARTICLE
    II. TERM	2
	Section
    2.1	2
	Section
    2.2	3
	Section
    2.3	3
	Section
    3.1	3
	Section
    3.2	3
	Section
    3.3	3
	Section
    3.4	6
	Section
    3.5	6
	 	 
	ARTICLE
    IV. USE	6
	Section
    4.1	6
	Section
    4.2	7
	Section
    4.3	7
	Section
    4.4	8
	Section
    4.5	8
	Section
    4.6	9
	 	 
	ARTICLE
    V. REQUIREMENTS OF LAW	9
	Section
    5.1	9
	Section
    5.2	9
	Section
    5.3	9
	Section
    5.4	10
	 	 
	ARTICLE
    VI. ACCESS TO PREMISES	10
	Section
    6.1	10
	 	 
	ARTICLE
    VII. MAINTENANCE, SERVICE AND REPAIR OBLIGATIONS	11
	Section
    7.1	11
	Section
    7.2	11
	Section
    7.3	12
	Section
    7.4	13
	Section
    7.5	13
	Section
    7.6	13
	Section
    7.7	13
	Section
    7.8	13

 

    	i

     

    

 

Table
of Contents

(continued)

 

	 	Page
        

        

	 	 
	ARTICLE
    VIII. INITIAL AND SUBSEQUENT ALTERATIONS	13
	Section
    8.1	13
	Section
    8.2	14
	Section
    8.3	14
	Section
    8.4	15
	Section
    8.5	15
	 	 
	ARTICLE
    IX. UTILITIES	15
	Section
    9.1	15
	Section
    9.2	16
	Section
    9.3	16
	Section
    9.4	16
	Section
    9.5	16
	 	 
	ARTICLE
    X. DESTRUCTION BY FIRE OR OTHER CAUSES	16
	Section
    10.1	16
	Section
    10.2	16
	Section
    10.3	17
	Section
    10.4	17
	Section
    10.5	17
	 	 
	ARTICLE
    XI. CONDEMNATION	18
	Section
    11.1	18
	Section
    11.2	18
	 	 
	ARTICLE
    XII. INSURANCE	18
	Section
    12.1	18
	Section
    12.2	20
	 	 
	ARTICLE
    XIII. SUBROGATION AND WAIVER	21
	Section
    13.1	21
	 	 
	ARTICLE
    XIV. INDEMNIFICATION AND HOLD HARMLESS	21
	Section
    14.1	21
	Section
    14.2	22
	Section
    14.3	22
	 	 
	ARTICLE
    XV. RULES AND REGULATIONS	22
	Section
    15.1	22
	 	 
	ARTICLE
    XVI. DEFAULTS BY TENANT; REMEDIES	22
	Section
    16.1	22
	Section
    16.2	23
	Section
    16.3	23
	Section
    16.4	23
	Section
    16.5	23
	Section
    16.6	24

 

    	ii

     

    

 

Table
of Contents

(continued)

 

	 	Page
        

        

	 	 
	Section
    16.7	24
	Section
    16.8	25
	 	 
	ARTICLE
    XVII. CONDITION OF PREMISES	25
	Section
    17.1	25
	 	 
	ARTICLE
    XVIII. ASSIGNMENT AND SUBLETTING	25
	Section
    18.1	25
	Section
    18.2	25
	Section
    18.3	26
	Section
    18.4	26
	Section
    18.5	26
	 	 
	ARTICLE
    XIX. HAZARDOUS MATERIALS	26
	Section
    19.1	26
	Section
    19.2	27
	Section
    19.3	27
	Section
    19.4	27
	Section
    19.5	28
	 	 
	ARTICLE
    XX. NON-WAIVER OF LANDLORD’S RIGHTS	28
	Section
    20.1	28
	 	 
	ARTICLE
    XXI. SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT.	28
	Section
    21.1	28
	Section
    21.2	28
	Section
    21.3	29
	Section
    21.4	29
	 	 
	ARTICLE
    XXII. QUIET ENJOYMENT	29
	Section
    22.1	29
	 	 
	ARTICLE
    XXIII. END OF TERM	30
	Section
    23.1	30
	Section
    23.2	30
	Section
    23.3	30
	 	 
	ARTICLE
    NOTICES	31
	Section
    24.1	31
	 	 
	ARTICLE
    XXV. SUCCESSORS AND ASSIGNS	31
	Section
    25.1	31
	 	 
	ARTICLE
    XXVI. SIGNS	31
	Section
    26.1	31

 

    	iii

     

    

 

Table
of Contents

(continued)

 

	 	Page
    
	 	 
	ARTICLE
    XXVII. SECURITY	32
	Section
    27.1	32
	 	 
	ARTICLE
    XXVIII. LIMITATION OF LIABILITY	32
	Section
    28.1	32
	 	 
	ARTICLE
    XXIX. LATE PAYMENTS	32
	Section
    29.1	32
	 	 
	ARTICLE
    XXX. BROKER	33
	Section
    30.1	33
	 	 
	ARTICLE
    XXXI. TENANT TO PROVIDE FINANCIAL STATEMENT	33
	Section
    31.1	33
	 	 
	ARTICLE
    XXXII. TENANT’S REMEDIES	33
	Section
    32.1	33
	 	 
	ARTICLE
    XXXIII. TENANT’S ESTOPPEL CERTIFICATE	33
	Section
    33.1	33
	 	 
	ARTICLE
    XXXIV. WAIVERS BY TENANT	33
	Section
    34.1	33
	Section
    34.2	34
	Section
    34.3	34
	 	 
	ARTICLE
    XXXV. EXCULPATION	34
	Section
    35.1	34
	 	 
	ARTICLE
    XXXVI. EFFECT OF CONVEYANCE BY LANDLORD	34
	Section
    36.1	34
	 	 
	ARTICLE
    XXXVII. SUBSTITUTE SPACE	34
	Section
    37.1	34
	 	 
	ARTICLE
    XXXVIII. VENDEX	35
	Section
    38.1	35
	Section
    38.2	35
	 	 
	ARTICLE
    XXXIX. EXPANSION OPTION	36
	Section
    39.1	36
	Section
    39.2	36
	 	 
	ARTICLE
    XL. EXTENSION OPTION	36
	Section
    40.1	36
	 	 
	ARTICLE
    XLI. MISCELLANEOUS	38
	Section
    41.1	38
	Section
    41.2	38
	Section
    41.3	38
	Section
    41.4	38
	Section
    41.5	38
	Section
    41.6	38
	Section
    41.7	38
	Section
    41.8	38
	Section
    41.9	38
	Section
    41.10	38

 

    	iv

     

    

 

THIS
LEASE AGREEMENT made this 28 day of September, 2015 (the “Effective Date”) between BIOBAT, INC., a
Not-for-Profit 501(c)(3) corporation organized under the laws of the State of New York, having an address c/o SUNY Downstate Medical
Center, 450 Clarkson Avenue, Box 129, Brooklyn, New York 11203 (“Landlord”) and IRX THERAPEUTICS, INC.,
a New York corporation having an address at 140 West 57th Street, Suite 3D, New York, New York (“Tenant”).

 

WITNESSETH:

 

Article
I.

LEASED PREMISES

 

Section
1.1 Landlord leases and demises to Tenant and Tenant rents and leases from Landlord the following described space (the “Premises”),
which Premises are shown on Exhibit A attached hereto and made a part hereof and located in Building A of the Brooklyn
Army Terminal, Brooklyn, New York (the “Building”):

 

	 	Floor(s):	Second
    Floor
	 	Rentable
    Square Footage (“RSF”)	[***]

 

Section
1.2 The Building is located upon the land more particularly described on Exhibit B attached hereto and made a part
hereof (the “Land”), which Building and Land form a part of the Brooklyn Army Terminal more particularly described
in the Prime Lease (as hereinafter defined) (the “Terminal”). A portion of the Building consisting of the following
components (the “Landlord’s Premises”) has been leased to Landlord by the New York City Economic Development
Corporation (the “Prime Landlord”) pursuant to an Agreement of Lease, dated November 13, 2009 (as it has been
and may hereafter be amended, the “Prime Lease”):

 

(a)
Dock Level: approximately 46,400 gross square feet and any loading area reflected on the site map shown in Exhibit B-1,
attached hereto and made a part hereof

 

(b)
First Floor: approximately 48,000 gross square feet plus the common loading area reflected on the site map in Exhibit B-1,
attached hereto and made a part hereof

 

(c)
Floors Two Through Eight: approximately 56,000 gross square feet per floor totaling approximately 392,000 gross square feet; and

 

(d)
Roof above the southern third of Building A as more particularly delineated on the site map attached hereto as Exhibit B-1,
attached hereto and made a part hereof.

 

Section
1.3 The Landlord’s Premises, together with the Common Areas (as hereinafter defined), is hereinafter collectively referred
to as the “Property”. For purposes of this Agreement, “Tenant’s Pro Rata Share” shall
be a fraction, the numerator of which is the RSF of the Premises and the denominator of which is the RSF of the Landlord’s
Premises, as the same may be re-determined any time RSF is added to the Landlord’s Premises as set forth herein. As of the
date hereof, the RSF of the Landlord’s Premises for purposes of this calculation is [***] RSF. RSF shall be deemed added
to the Landlord’s Premises for purposes of this calculation on the date Landlord determines that such RSF is ready to receive
tenant improvements and is offered for rental to the public. Within thirty (30) days following written request from Tenant (but
not more than once every twelve (12) months), Landlord shall certify to Tenant in writing as to the then RSF of the Landlord’s
Premises. For purposes of determining the Tenant’s Pro Rata Share of the insurance and telephone charges for the Building,
the numerator shall be the RSF of the Premises and the denominator shall be [*].

 

    	1

     

    

 

Section
1.4 The Premises shall include the appurtenant right to use, in common with others, the public lobbies, lavatories, entrances,
stairs, corridors, elevators, drive-up ground level loading docks, and other public portions of the Landlord’s Premises,
and the Prime Lease Common Facilities (as hereinafter defined) available to Landlord (collectively, the “Common Areas”),
subject in all instances and under all circumstances to (i) the terms and conditions of the Prime Lease and this Lease, (ii) any
restrictions, limitations, obligations or covenants imposed on Landlord relating to any of the foregoing areas, and (iii) Landlord’s
right to alter, improve, modify and, to the extent necessary, temporarily block off access to, portions of such Common Areas if
Landlord deems it desirable or appropriate to do so. The Common Areas, and the use thereof and access thereto through the Premises
for the purposes of operation, maintenance, inspection, display and repairs are hereby reserved to Landlord. No easement for light,
air or view is granted or implied hereunder, and the reduction or elimination of Tenant’s light, air or view will not affect
Tenant’s liability or obligations under this Lease. For purposes of this Lease, the term “Prime Lease Common Facilities”
means all those areas and facilities which may now or hereafter be furnished by Prime Landlord for the non-exclusive use by, or
benefit of, Landlord under the Prime Lease, including, without limitation, all entrances, exits, gates, fences and other security
facilities, driveways, sidewalks, parking facilities (excluding parking facilities designated for the exclusive use of the tenants
and occupants of particular buildings at the Terminal), loading docks, lobbies, mailbox room, hallways, stairways, utility mains,
lines and meters serving all or portions of the Terminal (other than such branch or service lines or meters providing or measuring
utility services to particular buildings (other than the Landlord’s Premises)) or the respective tenants and occupants of
such other premises and areas exclusively controlled by a tenant of premises other than Landlord’s Premises.

 

Article
II.

TERM

 

Section
2.1 The term of this Lease shall be for ten years and three months, commencing on the “Commencement Date”
(as hereinafter defined), and terminating at midnight on the last day of the month which shall be ten years and three months following
the Commencement Date, unless terminated earlier pursuant to Article XXIII (the “Expiration Date”). This Lease
shall be effective and enforceable between Landlord and Tenant upon the Effective Date. The Parties acknowledge ,and agree that
the Commencement Date has not been finally determined as of the Effective Date. The Commencement Date shall be defined as the
later of (a) January 1, 2016, or (b) the first day of the month that includes the date that is three months before the Scheduled
Completion Date for the Landlord’s Work. For purposes of illustration, if the Scheduled Completion Date for the Landlord’s
Work is May 15, 2016, the Commencement Date would be February 1, 2016.

 

    	2

     

    

 

Section
2.2  “Lease Year” as used herein shall mean (i) each and every consecutive twelve (12) month period during
the Term of this Lease, or (ii) in the event of Lease expiration or termination, the period between the last complete Lease Year
and said expiration or termination. The first such twelve (12) month period shall commence on the Commencement Date.

 

Section
2.3 If delivery of possession of the Premises shall be delayed beyond the date specified above for the commencement of the
term of this Lease for any reason whatsoever, Landlord shall not be liable to Tenant for any damages resulting from such delay
and Tenant’s obligation to pay Rent and Additional Rent shall be abated until possession of the Premises is delivered to
Tenant. In the event of such delay, it is understood and agreed that the Commencement Date shall also be postponed until delivery
of possession of the Premises and that the Expiration Date shall be correspondingly extended. Promptly upon the determination
by Landlord of the revised Commencement Date and the revised Expiration Date, Landlord shall send written notice to Tenant of
such revised dates and the parties shall be bound by said dates.

 

Article
III.

RENT

 

Section
3.1 During the term of this Lease, Tenant agrees to pay to Landlord, [***] ($[***]) Dollars per annum, payable in equal monthly
installments of $[***] on or before the first day of each month (the “Base Rent”), which Base Rent shall increase
on each anniversary of the Commencement Date by an amount equal to the then-current Base Rent multiplied by three (3%) percent.
Notwithstanding the preceding, Tenant shall not be obligated to pay Base Rent during the first ninety days following the Commencement
Date.

 

Section
3.2 Any sums of money required to be paid under this Lease by Tenant in addition to the Base Rent herein provided, shall be
deemed “Additional Rent” due and payable after demand therefor with the Base Rent next due or as may be otherwise
provided herein. Such Additional Rent shall be deemed to be and shall constitute “Rent” hereunder and shall
be collectible in the same manner and with the same remedies as if they had been Base Rent originally reserved herein. Tenant’s
obligation to pay Additional Rent accruing during the term of the Lease shall survive the earlier termination and/or expiration
of the term of this Lease. If Landlord receives from Tenant any payment less than the sum of the monthly Rent, including Additional
Rent, and other charges then due and owing, Landlord, in its sole discretion, may allocate such payment in whole or in part to
the Base Rent, any Additional Rent, and/or other charge then due or to any combination thereof.

 

Section
3.3 Payment of Operating Expenses and Taxes.

 

(a)
Upon the Commencement Date, and then at least thirty (30) days prior to each subsequent calendar year during the Term, Landlord
shall advise Tenant in writing of its reasonable estimate of Tenant’s Pro Rata Share of the annual Operating Expenses for
each calendar year and Taxes for each calendar year. Commencing on the Commencement Date and continuing on the first day of each
calendar month thereafter during the Term, Tenant shall pay as Additional Rent, one-twelfth (1/12th) of the estimated (as determined
by Landlord) Tenant’s Pro Rata Share of such Operating Expenses and Taxes, if any, concurrently with the Monthly Base Rent
payment.

 

    	3

     

    

 

(b)
Within ninety (90) days after the close of each calendar year, Landlord shall deliver to Tenant an itemized statement prepared
by Landlord’s property management company or chief operating officer, or by a certified public accountant (“Landlord’s
Statement”) showing in reasonable detail the (A) actual Operating Expenses and Taxes for the previous year broken down
by component expenses; (B) Tenant’s Pro Rata Share of such amounts; (C) the amount paid by Tenant during the year towards
Operating Expenses and the amount paid by Tenant during the year towards the Taxes; and (D) the amount Tenant owes to Landlord,
or the amount of the refund Landlord owes to Tenant on account of any underpayment or overpayment by Tenant. Any such amount due
from Tenant to Landlord shall be paid within ten (10) days after receipt of the most recent Landlord’s Statement. Any such
refund due from Landlord to Tenant shall be credited against the next due payment of the estimated Tenant’s Pro Rata Share
of Operating Expenses and Taxes or, if at the end of the Term, refunded to Tenant.

 

(c)
Landlord’s failure to submit a Landlord’s Statement to Tenant within ninety (90) days after the expiration of any
calendar year shall not affect Tenant’s obligations to pay Tenant’s Pro Rata Share of Operating Expenses and Taxes.

 

(d)
If the Landlord’s Premises is less than one hundred percent (100%) occupied during any calendar year or part thereof, Operating
Expenses shall include all additional costs and expenses of operation, management, insuring, securing and maintenance of the Property
which Landlord determines that it would have paid or incurred during such calendar year if the Landlord’s Premises had been
one hundred percent (100%) occupied. Landlord shall be responsible for any portion of the Operating Expenses that exceed the Pro-Rata
Shares paid by Tenant and other tenants of the Premises.

 

(e)
Tenant shall also pay (i) before any penalties or fines are assessed to the appropriate governmental authority any use and occupancy
tax in connection with the Premises. In the event Landlord is required by law to collect such tax, Tenant shall pay such use and
occupancy tax to Landlord as Additional Rent within ten (10) days of demand and Landlord shall remit any amounts so paid to Landlord
to the appropriate governmental authority in a timely fashion, and (ii) Tenant shall also pay to Landlord the applicable state
sales tax on all Rent simultaneously with the payment by Tenant of the Rent as otherwise required by applicable Legal Requirements
(as hereinafter defined).

 

(f)
For the purposes hereof, the following definitions shall apply:

 

(i)
“Operating Expenses” shall mean:

 

All
costs and expenses incurred or made by Landlord or charged to Landlord in the operation and management of the Property, exclusive
of Taxes. Operating Expenses include, without limitation, (i) costs of cleaning, security, janitorial service for the Common Areas,
rubbish removal, heating, electricity, air conditioning, utilities, risers/shafts and cable maintenance, tempered water and water
for customary lavatory use, window cleaning, and maintenance and repairs, maintenance of the grounds, sidewalks, access roads,
sanitary sewer and related connections, equipment and fixtures, drainage, stormwater management and related fixtures and equipment,
and parking lots; (ii) service contracts or other agreements with independent contractors for any of the foregoing (including,
but not limited to, fire alarm, security system, electric system, elevator and heating, ventilation and air conditioning (“HVAC”)
maintenance); (iii) management fees; (iv) wages, salaries, benefits, payroll taxes and unemployment compensation insurance for
employees of Landlord or any contractor of Landlord engaged in the cleaning, operating, maintenance or security of the Property;
(v) the cost of all Landlord’s insurance including, without limitation, casualty, liability and loss of rent insurance equal
to eighteen (18) month’s rent for the gross rent roll (including Additional Rent), and the amount of any insurance deductibles;
(vi) legal fees (excluding fees incurred in connection with enforcement action against an existing tenant or in negotiating a
new lease); (vii) payments, other than Taxes, to the city and/or county in which the Landlord’s Premises is located and
other agencies or governmental agencies including, but not limited to, water and sewer charges; (viii) fees and charges of any
association, or special district affecting the Property; (ix) fees and charges, under any agreements affecting the Common Areas
such as any reciprocal easement agreements, operation and maintenance agreements and park covenant and restriction agreements
and the like; (x) all rent, additional rent, (including common area charges and capital reserve fund contributions) and all other
charges payable under the Prime Lease or any other ground lease or other lease to which this Lease is subject; (xi) supplies;
and (xii) all costs of maintaining, managing, reporting, commissioning, and recommissioning the Landlord’s Premises or any
part thereof.

 

    	4

     

    

 

The
term “Operating Expenses” shall not include: (i) repairs or other work (including rebuilding) occasioned by
fire, windstorm or other casualty or condemnation to the extent covered by Landlord’s insurance, but excluding any deductibles;
(ii) any cost (such as electricity or overtime services) to the extent such costs are separately charged to and payable by Tenant
hereunder; (iii) leasing commissions and expenses associated with procuring tenants, including, lease concessions, lease take-over
obligations; (iv) interest on and amortization of debt; (v) interest and penalties for late payment of taxes; (vi) wages or salaries
of employees over the rank of property or building manager; (vii) expenses resulting from any violation by Landlord of the terms
of any ground or underlying lease or mortgage to which this Lease is subordinate; (viii) fines and penalties (to the extent not
attributable to any act or omission of Tenant or its agents, employees or contractors) which, under this Lease, are the responsibility
of Landlord; (ix) fees and costs associated with any refinancing of mortgage debt on the Property; and (x) any item for which
reimbursement is actually made to Landlord from another source (e.g., insurance proceeds or payment from another tenant).

 

In
the event that Landlord fails to supply any services Landlord is obligated to perform under this Lease in a reasonable and timely
manner, then, after thirty (30) days’ notice to Landlord of such non-compliance and a failure to cure same, Tenant shall
have the right, but not the obligation, to supply such services for its own benefit, and Tenant may deduct the costs of providing
such services from the Rent payable hereunder.

 

(ii)
Operating Expenses shall be determined in accordance with GAAP based upon reasonable projections.

 

(iii)
Notwithstanding anything to the contrary contained in this Lease, instead of using Tenant’s Pro Rata Share or sub-metering,
Landlord may allocate electricity, water and sewer and gas used in the Common Areas to Tenant and other tenants of the Landlord’s
Premises based upon Tenant’s and such other tenants’ consumption of electricity, water and sewer and gas as reasonably
determined by Landlord.

 

    	5

     

    

 

(g)
“Taxes” shall mean:

 

(i)
All payments in lieu of taxes (including payments in connection with so-called tax investment financing transactions or similar
transactions (collectively, “TIFs”), real estate taxes, personal property taxes, assessments (special or otherwise),
sewer and water rents, rates and charges, and any other governmental levies, impositions and charges of a similar nature (“Impositions”),
which may be levied, assessed or imposed on or in respect of all or any part of the Property and any improvements, fixtures and
equipment of Landlord, real or personal, located in or around the Landlord’s Premises.

 

(ii)
Any reasonable and appropriate expenses incurred by Landlord in contesting any of the foregoing or the assessed valuation of all
or any part of the Landlord’s Premises.

 

(iii)
If at any time during the Term the methods of taxation prevailing at the date hereof shall be altered so that in lieu of or as
a substitute for the whole or any part of the Impositions now levied, assessed or imposed on all or any part of the Landlord’s
Premises, there shall be levied, assessed or imposed (a) an Imposition based on the income or rents received therefrom whether
or not wholly or partially as a capital levy or otherwise, or (b) an Imposition measured by or based in whole or in part upon
all or any part of the Landlord’s Premises and imposed on Landlord, then all Impositions shall be deemed to be Taxes.

 

(iv)
If an appropriate governmental authority levies any use and occupancy tax, any payments for such use and occupancy tax.

 

(h)
“Taxes” shall not include any penalties or interest paid by Landlord on account of taxes.

 

Section
3.4 Installments of the Rent payable hereunder shall be made payable to and shall be paid at the office address of Landlord
listed above or at such other place as Landlord and its managing agent may designate from time to time by written notice to Tenant
hereunder, without demand, setoff or deduction whatsoever. Rent for any partial month during the term of the Lease shall be ratably
apportioned based on the actual number of days.

 

Section
3.5 This is a “triple net” lease. Tenant’s payment of Rent shall be completely net to Landlord so that this
Lease yields to Landlord the net annual Base Rent and Tenant shall pay any and all Base Rent, Additional Rent and costs, expenses
and obligations of every kind and nature whatsoever relating to the Premises without setoff, deduction, counterclaim or abatement,
except as specifically and expressly (and not impliedly) provided in this Lease.

 

Article
IV.

USE

 

Section
4.1 Tenant shall occupy and use the Premises for the following purposes only: all uses consistent with the mission of BioBAT
as reflected in the third certification in the BioBAT Certificate of Incorporation, an excerpt of which is attached hereto as
Exhibit C (“Permitted Uses”). Such Permitted Uses must be in accordance with the New York City Zoning
Resolution, as amended from time to time, relevant certificates of occupancy and applicable Legal Requirements, and applicable
Rules and Regulations (as hereinafter defined). Tenant contemplates that it shall use the Premises for administrative office space
and research & development purposes. Tenant agrees to conduct its business in the manner and according to the generally accepted
business principles of the business or profession in which Tenant is engaged.

 

    	6

     

    

 

Section
4.2 Landlord and Tenant acknowledge that the Building and Building site are subject to the following:

 

(a)
The terms and conditions of the Economic Development Administration (“EDA”) Special Award Conditions, wherein
the use of the leased space within the Building is restricted to technology, biomedical and biotechnology facilities and any other
activities conducive to such businesses provided that any such use is not in conflict with any restrictions place upon the Landlord
or the Property. Landlord agrees that this Lease is consistent with the authorized general and specific purposes of the Award,
that this Lease is consistent with EDA’s policies concerning, but not limited to, non-relocation (as defined in EDA’s
regulations found in 12 CFR 316.3), non-discrimination and adequate consideration as found in 12 CFR 314.3. Moreover, the Premises
must be used for no other purpose other than the general and specific purposes of the Award.

 

(b)
The terms and conditions of the United States Economic Development Administration (EDA), United States Department of Commerce,
EDA Project Number 01-01-08862 financial assistance award, including, but not limited to:

 

(i)
Real Property or tangible Personal Property acquired or improved with EDA Investment Assistance must be used in a manner that
is consistent with the authorized general and specific purposes of the Award, in this case, biotechnology research purposes and
EDA policies concerning adequate consideration and environmental compliance; and may not be used in violation of the nondiscrimination
requirements set forth in 13 C.F.R. 302.20 or for inherently religious activities prohibited by applicable federal law.

 

(ii)
Lessee agrees to provide Lessor and/or EDA with any document, evidence or report required to assure compliance with federal and
state law, including, but not limited to, applicable federal and state environmental laws.

 

Section
4.3 Notwithstanding anything to the contrary provided in this Article IV, Tenant shall not use or occupy the Premises or any
portion thereof, permit or suffer the same to be used or occupied and/or do, or permit or suffer anything to be done, in or on
the Premises or any part thereof:

 

(a)
for inpatient or outpatient clinical services (other than clinical trials relating to bioscience uses or the teaching of device/technology
usage, which uses shall be permitted);

 

(b)
for any unlawful, illegal or hazardous business, use or purpose or in any way in violation of any applicable present and future
laws, rules, regulations, orders, ordinances, statutes, codes, executive orders, and requirements of all Governmental Authorities
having jurisdiction over the Premises, the Landlord’s Premises, the Building, the Common Areas or the Terminal (including
without limitation, the New York City Building Code, Title 25, Chapter 3 of the New York City Administrative Code and the laws,
rules, regulations and orders, ordinances, statutes, codes and requirements of any applicable Fire Rating Bureau or other body
exercising similar functions) (collectively, “Rules and Regulations”), or the certificates of completion and/or
occupancy issued for the Premises, the Landlord’s Premises and the Building as then in force, as applicable;

 

    	7

     

    

 

(c)
in such manner as may make void or voidable any insurance then in force with respect to the Premises, the Landlord’s Premises,
the Building, the Common Areas or the Terminal;

 

(d)
that would, in any manner or respect, cause structural or other injury to the Premises, the Landlord’s Premises or the Building
(or any portion thereof), or constitute a private or public nuisance or waste;

 

(e)
that would, in any manner or respect, render the Premises incapable of being used or occupied after the expiration or sooner termination
of the Term of this Lease for the purposes for which the same were permitted to be used and occupied on the day upon which Tenant
shall first open the Premises for business to the public, except for ordinary wear and tear and damage by fire or other casualty
and repairs for which Tenant is not responsible under this Lease; and/or that would, in any manner or respect, violate the Prime
Lease or any other recorded document affecting the use and occupancy of the Landlord’s Premises.

 

Section
4.4 Tenant shall not use the Premises for animal testing or clinical trials without the approval of the Institutional Animal
Care and Use Committee (“IACUC”) or the Institutional Review Board (“IRB”), respectively,
and the Landlord, which consent may be granted or withheld in the sole discretion of each of the above parties.

 

Section
4.5 Tenant understands and agrees that the Tenant is responsible, at its own expense, to obtain or cause to be obtained all
necessary governmental licenses, permits, and certificate(s) of occupancy or completion required in order to use and occupy the
Premises for the Permitted Uses and, except for the Landlord’s Work as defined in Section 8.1, to perform or cause to be
performed construction and or any other work on the Premises permitted under this Lease. If any governmental license or permit
shall be required for the proper and lawful conduct of Tenant’s business and uses of the Premises permitted under this Lease,
including, without limitation, any license required to operate a laboratory and/or product development center and dispose of Hazardous
Materials (as hereinafter defined), Tenant shall be responsible for and shall procure and maintain or cause to be procured and
maintained such license or permit. Tenant agrees that Tenant is responsible that any and all use of laboratories or the like on
the Premises shall comply with the requirements of licenses and permits necessary to facilitate the Permitted Uses described above,
including but not limited to licenses and permits required from the New York State Department of Health (or successor agency).
Further, Tenant represents and warrants that at all times during the Term, all activities of Tenant shall be licensed, certified,
or registered by the appropriate governmental agencies including, without limitation, to the extent required, New York State Department
of Health and New York State Department of Education. Tenant further represents and warrants that it shall maintain or cause to
be maintained at all times, at its sole cost and expense, all other permits, licenses, certifications, or registrations that are
required in connection with any laboratory operations and activities on the Premises. Landlord shall cooperate and execute documents
where reasonably required in order to assist Tenant in obtaining licenses/permits necessary to facilitate the Permitted Uses.
All related expenses and administrative costs to Landlord shall be Tenant’s responsibility.

 

    	8

     

    

 

Section
4.6 Tenant must notify Landlord of the use of radioactivity and is responsible for obtaining its own license(s) relating to
the use, handling, storage or disposal of any radioactive material in or about the Premises. Tenant and Tenant’s employees,
agents, contractors or invitees shall only use, handle or store, or permit the use, handling or storage, of the radioactive material
stipulated under the applicable New York City Department of Health license and any related licenses for use on, in or about the
Premises, in accordance with the quantity, chemical and physical form, and intended purpose specified in such license(s). A copy
of such license(s) shall be delivered to Landlord for Landlord’s records prior to the delivery of any radioactive material
to the Premises and updated copies shall be delivered to Landlord when renewed.

 

Article
V.

REQUIREMENTS OF LAW

 

Section
5.1 Tenant shall give prompt notice to Landlord of any notice it receives of the violation of any law or requirements of any
governmental authority with respect to the Premises or the use or occupation thereof Tenant shall promptly comply with all present
and future laws, orders and regulations of all state, federal, town, municipal and local governments, departments, commissions
and boards or any direction of any public officer pursuant to law, and all orders, rules and regulations of the New York Board
of Fire Underwriters or any similar body which shall impose any violation, order or duty upon Landlord or Tenant with respect
to the Premises (in which event Tenant shall effect such compliance at its sole cost and expense) or the Building (in which event,
notwithstanding anything herein to the contrary, Tenant shall promptly pay Tenant’s pro rata share of the cost to Landlord
of complying therewith). Tenant shall pay all costs, expenses, fines, penalties or damages, which may be imposed upon Landlord
by reason of Tenant’s failure to comply with the provisions of this Article.

 

Section
5.2 Tenant shall not place a load upon any floor of the Premises exceeding the floor load per square foot area which said
floor was designed to carry and which is allowed by law.

 

Section
5.3 Tenant, at its expense, shall comply with all present or future Legal Requirements and Rules and Regulations to the extent
that the same shall affect or be applicable to (a) Tenant’s particular manner of use of the Premises (as opposed to its
mere use thereof), (b) alterations and improvements made by Tenant, or (c) a breach by Tenant of its obligations under this Lease,
it being understood that Landlord shall be responsible for complying with Legal Requirements and Rules and Regulations imposed
on the Landlord’s Premises generally and which would have to be complied with whether or not Tenant was then in occupancy
of the Premises. Nothing herein contained, however, shall be deemed to impose any obligation upon Tenant to make any structural
changes or repairs unless necessitated by Tenant’s acts or omissions or by reason of a particular use by Tenant of the Premises.
For purposes of this Lease, the term “Legal Requirement(s)” means: (i) any and all present and future laws,
rules, regulations, orders, ordinances, statutes, codes, executive orders, and requirements of all Governmental Authorities applicable
to the Premises, the Landlord Premises, the Building or any street, road, avenue, or sidewalk comprising a part of, or in front
of, the Property, or any vault in, or under the Premises (including, without limitation, the Building Code of New York City and
the laws, rules, regulations, orders, ordinances, statutes, codes, and requirements of any applicable Fire Rating Bureau or other
body exercising similar functions); (ii) the certificate or certificates of occupancy (or their equivalent) issued for the Premises
or the Property as then in force; (iii) New York State Unconsolidated Laws Title 18, Chapter 5, Section 7381 q. as it may be amended
from time to time; (iv) the provisions of City Planning Commission Resolution of November 21, 2001, Col. No. 23 (C 010708 PPM)
adopted pursuant to Section 197(c) of the New York City Charter; (v) with respect to improvement and use of public access and
open space on the Land, if any, the provisions of City Planning Commission Resolution of November 21, 2001, Calendar No. 25 (C
010712 ZSM) and may be amended from time to time (the “Bioscience Special Permit”); (vi) the rules, regulations,
orders, codes, and requirements of the State Historic Preservation Office, if applicable; and (vii) Chapter 8-A of the New York
City Administrative Code as it may be amended from time to time. For purposes of this Lease, the term “Governmental Authority
or Authorities” means the United States of America, the State, County and City of New York, and any agency, department,
commission, board, bureau, instrumentality or political subdivision of any of the foregoing, now existing or hereafter created,
having jurisdiction over the Property or any portion thereof or any street, road, avenue or sidewalk comprising a part of, or
in front of, the Property, or any vault in or under the Property.

 

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Section
5.4 The parties acknowledge that Title III of the Americans With Disabilities Act of 1990 and the regulations and rules promulgated
thereunder, as all of the same may be amended and supplemented from time to time (collectively referred to herein as the “ADA”)
establish requirements for accessibility and barrier removal, and that such requirements may or may not apply to the Premises
and the Property depending on, among other things: (A) whether Tenant’s business is deemed a “public accommodation”
or “commercial facility”, (B) whether such requirements are “readily achievable”, and (C) whether a given
alteration affects a “primary function area” or triggers “path of travel” requirements. The parties hereby
agree that: (a) Landlord shall be responsible for ADA Title III compliance in the Common Areas, (b) Tenant shall be responsible
for ADA Title III compliance within the Premises following delivery of possession, and (c) Landlord may perform, or require that
Tenant perform, and Tenant shall be responsible for the cost of, ADA Title III “path of travel” requirements triggered
by alterations within the Premises made subsequent to the commencement of the Term at the request of Tenant.

 

Article
VI.

ACCESS TO PREMISES

 

Section
6.1 Landlord shall have the right to enter and pass through the Premises at all reasonable times to examine the same, and
to show them to lessees of the Building, and to make such repairs, improvements or additions as Landlord may deem necessary or
desirable and Landlord shall be allowed to take all material into and through the Premises that may be required therefor. During
the year prior to the expiration of the term of this Lease, or of any renewal term, Landlord may exhibit the Premises to prospective
tenants or purchasers at all reasonable hours and without unreasonably interfering with Tenant’s business. If Tenant shall
not be personally present to open and permit such entry, Landlord may enter the same by a master key.

 

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Article
VII.

MAINTENANCE, SERVICE AND REPAIR OBLIGATIONS

 

Section
7.1 Tenant shall take good care of the Premises, the fixtures and appurtenances located therein and the machinery, equipment
and systems exclusively serving the Premises and, at Tenant’s sole cost and expense, make all non- structural repairs thereto
as and when needed to preserve the Premises and fixtures, machinery, equipment and services in good working order and condition,
obsolescence and damage from the elements, fire or other casualty, excepted. Notwithstanding the foregoing, all damage or injury
to the Premises or to any other part of the Building, or to its fixtures, equipment and appurtenances, whether requiring structural
or non-structural repairs, caused by or resulting from carelessness, omission, neglect or improper conduct of Tenant, Tenant’s
servants, employees, invitees or licensees, shall be repaired promptly by Landlord at Tenant’s sole cost and expense. Tenant
shall repair all damage to the Property and the Premises caused by the moving of Tenant’s fixtures, furniture or equipment.
All the aforesaid repairs shall be of the quality and class equal to the original work or construction. All such maintenance,
repairs and replacements shall be done at Tenant’s sole cost and expense by Landlord’s employees or agents or, with
Landlord’s express written consent, by persons requested by Tenant and consented to in writing by Landlord. All bulbs, tubes
and lighting fixtures for the Premises installed or maintained by Tenant must comply with Landlord’s sustainability practices,
including any third-party rating system concerning the environmental compliance of the Landlord’s Premises or the Premises,
as the same may change from time to time. Tenant is responsible for reporting lighting purchases to Landlord in a format suitable
to Landlord. All maintenance and repairs made by Tenant must comply with Landlord’s sustainability practices, including
any third-party rating system concerning the environmental compliance of the Landlord’s Premises or the Premises, as the
same may change from time to time.

 

Section
7.2 Provided that no Event of Default, or an event which, upon the giving of notice or the passage of time, or both, could
become an Event of Default, exists under this Lease, Landlord shall furnish, or cause to be furnished, the following services,
subject to the provisions of Section 7.3 hereof:

 

(a)
An attractive lobby area, and elevator service for passenger and delivery needs.

 

(b)
Air conditioning during summer operations and heat during winter operations, subject to all Federal and local energy conservation
regulations.

 

(c)
Hot and cold running water for all common area restrooms and lavatories in the Landlord’s Premises.

 

(d)
Janitorial service for the Common Areas in the Landlord’s Premises.

 

(e)
Electricity to operate the Common Areas during ordinary business hours, and to operate the Premises seven (7) days per week, by
providing electric current in reasonable amounts necessary for normal office uses, lighting, and HVAC.

 

(f)
General management, including supervision, inspections and management functions.

 

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(g)
Four (4) wall-mounted exterior lights immediately adjacent to the west-facing entrance to the Premises.

 

(h)
Security card reader for the west-facing entrance to the Premises, and two (2) security card readers for doors to the Premises.

 

Section
7.3 The services provided for in Section 7.2 herein are predicated on and are in anticipation of certain usage of the Premises
by Tenant as follows:

 

(a)
Services shall be provided for the Landlord’s Premises during ordinary business hours, unless expressly provided otherwise.

 

(b)
Such usage of the Premises by Tenant will not require the HVAC system to function beyond design loads currently applicable to
the Landlord’s Premises.

 

(c)
Electric power usage and consumption for the Premises shall be based on (i) lighting of the Premises on a level suitable for normal
office use and power for small desk-top machines and devices using no more than 110 volt, 20 amp circuits, and, if applicable,
laboratory use at an average of 20 watts per RSF, and (ii) operating the improvements and equipment contemplated by the Tenant
Improvement Construction Documents during ordinary business hours. Heavier use items shall not be used or installed, unless expressly
permitted elsewhere herein or by separate written consent of Landlord.

 

(d)
Should Tenant’s total rated electrical design load per square foot in the Premises exceed the building standard rated electrical
design load, on a per rentable square foot basis, as determined by Landlord from time to time, for either low or high voltage
electrical consumption, or if Tenant’s electrical design requires low voltage or high voltage circuits in excess of Tenant’s
share of the building standard circuits, as such share is determined by Landlord, Landlord may (at Tenant’s expense), if
reasonably possible, install within the Landlord’s Premises one (1) additional high voltage panel and/or one (1) additional
low voltage panel with associated transformer (the “Additional Electrical Equipment”) as necessary to accommodate
the aforesaid requirements. If the Additional Electrical Equipment is installed because Tenant’s low or high voltage rated
electrical design load exceeds the applicable building standard rated electrical design load (on a per rentable square foot basis),
then a meter may also be added by Landlord (at Tenant’s expense) to measure the electricity provided through the Additional
Electrical Equipment. In addition to the foregoing, should Tenant desire to install or use equipment in the Premises not contemplated
by the Tenant Improvement Construction Documents (as defined in the Work Letter) that will, or can be reasonably expected to,
exceed the building standard rated electrical design load, on a per rentable square foot basis, for either low or high voltage
electrical consumption, Tenant shall advise Landlord in writing in advance of the installation or use of such equipment and Landlord
shall have the right, in its reasonable discretion, to approve or disapprove Tenant’s installation and use of such equipment
in the Premises, and Landlord may condition its approval on installation of Additional Electrical Equipment and a meter therefore
as set forth above.

 

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Section
7.4 If Tenant uses any services in an amount or for a period in excess of that provided for herein, Landlord also reserves
the right to charge Tenant as Additional Rent a reasonable sum as reimbursement for the direct cost of such added services plus
[***] percent ([***]%) for Landlord’s overhead, general conditions and profit. Landlord further reserves the right to install
separate metering devices for the purpose of determining such excessive periods and/or amounts at Tenant’s sole cost and
expense. In the event of disagreement as to the reasonableness of such additional charge, the opinion of the appropriate local
utility company or an independent professional engineering firm selected by Landlord shall prevail.

 

Section
7.5 Tenant shall give Landlord prompt notice of any defective condition in any plumbing, heating system or electrical lines
located in, servicing or passing through the Premises and, following such notice, Landlord shall remedy the condition with due
diligence but at the expense of Tenant if repairs are necessitated by damage or injury attributable to Tenant, or Tenant’s
servants, agents, employees, invitees or licensees as aforesaid. Except as specifically provided in this Lease, there shall be
no allowance to Tenant for a diminution of rental value and no liability on the part of Landlord by reason of inconvenience, annoyance
or injury to business arising from Landlord, Tenant or others making or failing to make any repairs, alterations, additions or
improvements in or to any portion of the Building or the Premises or in and to the fixtures, appurtenances or equipment thereof.

 

Section
7.6 Landlord shall be responsible for complying with the provisions of Section 16.0 of the Prime Lease as they refer to the
Common Areas.

 

Section
7.7 Except as otherwise expressly provided in this Article VII, Landlord shall have no obligation during the term of this
Lease to expend any money for the preservation or repair of the Premises.

 

Section
7.8 Tenant shall be responsible to contract directly with (a) a janitorial company for daily cleaning services within the
Premises and removal of trash to designated trash bins, and (b) a properly licensed contractor to remove biohazardous and medical
waste from the Building in compliance with all applicable statutes and regulations.

 

Article
VIII.

INITIAL AND SUBSEQUENT ALTERATIONS

 

Section
8.1 Landlord shall make the initial improvements to the Premises (collectively, the “Landlord’s Work”)
in accordance with the terms and conditions contained in the work letter, plans and construction estimate set forth in Exhibit
D (the “Work Letter”). The parties agree that Landlord is responsible to pay [***] ($[***]) Dollars toward
the cost of Landlord’s Work, and that Tenant shall pay the cost of Landlord’s Work in excess of this sum to the contractor
prior to Landlord’s payment of the above sum. Other than for the Landlord’s Work, Landlord shall have no obligation
whatsoever to alter, remodel, improve, repair, decorate or paint the Premises or any part thereof except as otherwise expressly
provided herein or agreed upon in writing by Landlord, and the parties hereto affirm that Landlord has made no representations
to Tenant respecting the condition of the Premises, the Landlord’s Premises or the Property except as specifically herein
set forth in writing and Tenant shall accept the Premises in their “AS-IS, WHERE IS” condition. Landlord shall “Substantially
Complete” the Landlord’s Work, as evidenced by delivery to Tenant of a certificate executed by the Landlord certifying
that the Landlord’s Work has been constructed in substantial accordance with Exhibit D and all Legal Requirements,
by no later than the Scheduled Completion Date (as hereinafter defined). Notwithstanding the foregoing, in the event that Landlord’s
Work would have been Substantially Completed by the Scheduled Completion Date but for any act or omission of Tenant or any of
its employees, agents or contractors, including, without limitation, Tenant’s changes to the Work Letter or Tenant’s
failure to complete any preparatory work which Tenant is responsible to perform (each, a “Tenant Delay”), the
Commencement Date shall not be delayed by the term of the Tenant Delay. By taking possession of the Premises, Tenant shall be
deemed to have accepted the Premises as being in good and satisfactory order, condition and repair for its intended use under
this Lease except for that portion of the Premises that is within the area of the Landlord’s Work. “Substantial
Completion” shall mean the stage when Landlord’s Work is reasonably complete to permit Tenant to install substantially
all of its FF&E throughout the Premises, even though “punch list” items, or other items of construction which
do not unreasonably interfere with Tenant’s ability to install its FF&E, are not yet completed. The “Scheduled
Completion Date” shall be the date the contractor selected by the Landlord to perform the Landlord’s Work assures
both Parties with reasonable certainty that he will complete the Landlord’s Work after accounting for all reasonably foreseeable
factors affecting the construction.

 

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Section
8.2 Tenant may make cosmetic, non-structural alterations not requiring the approval of the New York City Department of Buildings,
such as painting, carpeting, wallpapering, and flooring, to be undertaken in a good and workmanlike manner using new materials
and in the manner permitted by this Lease. Tenant shall notify Landlord of such changes prior to the commencement of any work.

 

Section
8.3 Tenant shall obtain Landlord’s consent, which consent shall not be unreasonably withheld, regarding any nonstructural
alterations which do not affect the Common Areas or roof, facade, windows or structural elements of the Building and do not diminish
the value of the Building. All plans prepared by Tenant in connection with such alterations shall be delivered to Landlord for
Landlord’s consent, prior to the commencement of any work by Tenant. Tenant shall also obtain, when appropriate, final as
built plans for all such work and provide copies thereof to Landlord. Prior to commencing any alterations, Tenant shall, at its
expense, obtain all permits, approvals and certificates required by any governmental or quasi-governmental bodies and upon completion,
certificates of final approval thereof and shall promptly deliver duplicates of all such permits, approvals and certificates to
Landlord. All alterations which shall be permitted by Landlord shall be accomplished at Tenant’s expense by Landlord, which
expense shall include a charge of [***] ([***]%) percent of the cost of paying contractors and/or subcontractors retained by Landlord
as Landlord’s fee for overseeing the alterations. All installations which are not in the nature of movable personal property
installed in the Premises at any time, either by Tenant or Landlord on behalf of Tenant, shall, upon installation, become the
property of Landlord and shall remain upon and be surrendered with the Premises unless Landlord, by written notice to Tenant no
later than twenty (20) days prior to the Expiration Date elects to have them removed by Tenant in which event the same shall be
removed by Tenant at Tenant’s expense prior to the Expiration Date. All property permitted or required to be removed by
Tenant at the end of the term hereof remaining in the Premises after Tenant’s removal therefrom shall be deemed abandoned
and may at the election of Landlord be either retained as Landlord’s property or removed from the Premises by Landlord at
Tenant’s expense.

 

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Section
8.4 Any and all alterations, additions and improvements will be performed in accordance with Landlord’s sustainability
practices, including any third-party rating system concerning the environmental compliance of the Landlord’s Premises or
the Premises, as the same may change from time to time. Tenant further agrees to engage a qualified third-party LEED or Green
Globe Accredited Professional or similarly qualified professional during the design phase through implementation of any alterations,
additions and improvements to review all plans, material procurement, demolition, construction and waste management procedures
to ensure they are in full conformance to Landlord’s sustainability practices, as aforesaid.

 

Section
8.5 Landlord and Tenant expressly agree and acknowledge that no interest of Landlord in the Premises or the Landlord’s
Premises shall be subject to any lien for improvements made by Tenant in or for the Premises. Landlord shall not be liable for
any lien for any improvements made by Tenant, such liability being expressly prohibited by the terms of this Lease, and Tenant
agrees to inform all contractors and material suppliers performing work in or for or supplying materials to the Premises of the
existence of said prohibition. If any mechanic’s lien shall be filed against the Building or Land of which the Premises
forms a part, for work claimed to have been done for, or materials claimed to have been furnished to, Tenant

 

(a)
the same shall be discharged by Tenant, by either payment, by bond or otherwise, at the sole cost and expense of Tenant, within
fifteen (15) days of the giving of notice thereof by Landlord,

 

(b)
either a release or a satisfaction of lien, as the case may be, shall be filed with the County Clerk of the county in which the
Building is situate within such fifteen (15) day period, and (c) a copy of such release or satisfaction, as the case may be, certified
to by such County Clerk shall be delivered to Landlord within three (3) days after such filing. In the event such mechanic’s
lien is not discharged timely, as aforesaid, Landlord may discharge same for the account of and at the expense of Tenant by payment,
bonding or otherwise, without investigation as to the validity thereof or of any offsets or defenses thereto, and Tenant shall
promptly reimburse Landlord, as Additional Rent, for all costs, disbursements, fees and expenses, including, without limitation,
legal fees, incurred in connection with so discharging said mechanic’s lien, together with interest thereon from the time
or times of payment until reimbursement by Tenant.

 

Article
IX.

UTILITIES

 

Section
9.1 Landlord shall supply electricity to the Premises in such quantities as Tenant shall reasonably require (provided said
requirements shall not exceed the electrical capacity of the electrical distribution system in the Building). Tenant shall make
no alterations or additions to the electrical distribution system in the Premises without the prior written consent of Landlord,
which consent will not be unreasonably withheld or delayed. Tenant covenants and agrees that at all times its use of electric
current shall not exceed the capacity of existing feeders to the Building and the risers or wiring installation therein. Tenant
may not use any electrical equipment which, in Landlord’s reasonable judgment, will overload such installations or interfere
with the use thereof by other tenants in the Building.,

 

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Section
9.2 Subject to the provisions herein, the parties agree that Landlord shall furnish electricity to Tenant on a “submetering”
basis. Landlord has installed a meter or meters (collectively, the “Submeter”), at a location designated by
Landlord, and connections from the risers and/or circuits servicing the Premises to the Submeter and has performed all other work
necessary for the furnishing of electric current by Landlord to the Premises to service Tenant’s lighting and equipment.
Tenant will pay Landlord, as Additional Rent for such service, the amounts determined by multiplying the usage indicated by the
Submeter by the “all in” rate charged to Landlord by Consolidated Edison plus an administrative fee of five
(5%) percent of such amount. The amounts computed from the Submeter readings are herein called the “Electricity Additional
Rent”, and such amounts computed from the Submeter shall be binding and conclusive on Tenant. If the Submeter should
fail to properly register or operate at any time during the term of this Lease for any reason whatsoever, Landlord may estimate
the Electricity Additional Rent, and when the Submeter is again properly operative, an appropriate reconciliation shall be made,
by Tenant paying any deficiency to Landlord within twenty (20) days after demand therefor, or by Landlord crediting Tenant with
the amount of any overpayment against the next payment(s) of Electricity Additional Rent. The periods to be used for the aforesaid
computation shall be as Landlord, in its sole discretion, may from time to time elect. Bills for the Electricity Additional Rent
shall be rendered to Tenant at such time as Landlord may elect.

 

Section
9.3 If any tax is imposed upon Landlord’s receipts from the sale or resale of electric current to Tenant by Federal,
State or municipal authority, Tenant agrees that, unless prohibited by law, Tenant’s pro rata share of such taxes shall
be passed on to, and included in the bill, and paid by Tenant to Landlord as Additional Rent.

 

Section
9.4 Landlord shall not be liable to Tenant for any loss, damage or expense of whatever nature which Tenant may sustain or
incur by reason of any failure, inadequacy or defect in the character, quantity or supply of utilities furnished to the Premises,
whether through the primary service or back-up generation except for any loss, damage or expense due to the negligence or omission
of Landlord. Tenant shall pay for any special fixtures, connection charges and equipment required for its usage of said utilities.
Further, Tenant shall install monitoring equipment for any freezers at the Premises, and shall promptly notify Landlord in the
event that any freezer is not receiving an adequate supply of current.

 

Section
9.5 Tenant, at its sole cost and expense, and subject to Landlord’s reasonable regulations and approval in its sole
discretion of Tenant’s load requirements, shall be permitted to (a) connect to the back-up generator located within the
Building to provide limited emergency power for Tenant’s selected equipment, and (b) install its own back-up generator within
the Premises or other location to be designated by Landlord, such location to be provided for such use at no charge to Tenant.

 

Article
X.

DESTRUCTION BY FIRE OR OTHER CAUSES

 

Section
10.1 Tenant shall give prompt notice to Landlord in case of fire or other damage to the Premises or the Building.

 

Section
10.2 If the Premises or the Building shall be damaged by fire or other casualty, not the result of Tenant’s negligent
or wrongful conduct, Landlord, at Landlord’s expense, shall repair such damage. Landlord shall have no obligation to repair
any damage to, or to replace, Tenant’s personal property or any other property or effects of Tenant. If the Premises shall
be rendered untenantable by reason of any such damage, the Rent shall abate for the period from the date of such damage to the
date when such damage shall have been substantially repaired, and if only a part of the Premises shall be so rendered untenantable,
the Rent shall abate for such period in the proportion which the rentable area of the Premises so rendered untenantable bears
to the total rentable area of the Premises. However, if, prior to the date when all of such damage shall have been repaired, any
part of the Premises so damaged shall be rendered tenantable and shall be used or occupied by Tenant or other persons claiming
through or under Tenant, then the amount by which the Rent shall abate shall be equitably apportioned for the period from the
date of any such use or occupancy to the date when all such damage shall have been repaired. Tenant hereby expressly waives the
provisions of Paragraph 227 of the New York Real Property Law, and of any successor law of like import then in force, and Tenant
agrees that the provisions of this Paragraph shall govern and control in lieu thereof

 

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Section
10.3 Notwithstanding the foregoing provisions of this Article 10, if the Premises or the Building shall be totally damaged
or rendered wholly untenantable by fire or other casualty, or partially damaged or rendered untenantable to the extent of fifty
(50%) percent or more of the floor space of the Premises, then, in any of such events, either party, at such party’s option,
may give to the other party, within one hundred eighty (180) days after such fire or other casualty, a thirty (30) days’
notice of termination of this Lease and, in the event such notice is given, this Lease shall come to an end and expire upon the
expiration of said thirty (30) days with the same effect as if the date of expiration of said thirty (30) days were the expiration
date, the Rent shall be apportioned as of such date and any prepaid portion for any period after such date shall be refunded by
Landlord to Tenant.

 

Section
10.4 If this Lease shall not be terminated as provided above, Landlord shall, at its expense, to the extent of the net insurance
recovery, repair or restore the Premises with reasonable diligence and dispatch, to the condition immediately prior to the casualty.
For purposes of this Article 10, Landlord shall not be obligated to commence any repair or restoration unless and until insurance
proceeds are actually received by Landlord and Landlord’s repair obligations shall be limited to the extent of the insurance
proceeds actually received by Landlord therefor. Landlord shall not be required to repair or restore any of Tenant’s leasehold
improvements or betterments, furniture, furnishings, decorations or any other installations made at Tenant’s expense. All
insurance proceeds payable to Tenant for such items shall be held in trust by Tenant and upon the completion by Landlord of repair
or restoration, Tenant shall prepare the Premises for occupancy by Tenant in the manner immediately prior to the damage or destruction
in accordance with plans and specifications approved by Landlord.

 

Section
10.5 Notwithstanding any other provision of this Lease, (a) to the extent insurance proceeds in the event of a casualty are
in excess of $[***], such proceeds shall be paid and disbursed in accordance with the Prime Lease and (b) if the Landlord’s
Premises is rendered wholly unusable or (whether or not the Landlord’s Premises is damaged in whole or in part) if the Building
and/or Landlord’s Premises shall be so damaged that Prime Landlord, pursuant to the Prime Lease, shall decide to demolish
it or to rebuild it, in whole or in part, then, in any of such events, Prime Landlord may elect, pursuant to the Prime Lease,
to terminate the Prime Lease by written notice to Landlord, given within one hundred twenty (120) days after such fire or casualty,
specifying a date for the expiration of the Prime Lease, which date shall not be more than sixty (60) days after the giving of
such notice, and upon the date specified in such notice the term of the Prime Lease shall expire as fully and completely as if
such date were the date set forth above for the termination of the Prime Lease. In such event, this Lease also shall terminate
on such date and Tenant and its respective Representatives and, licensees, invitees, and occupants shall forthwith quit, surrender
and vacate the Premises.

 

    	17

     

    

 

Article
XI.

CONDEMNATION

 

Section
11.1 If all of the Premises, or a part of such Premises such that the Premises in the judgment of an licensed architect retained
by Landlord are untenantable, are taken by exercise of the power of eminent domain or other similar proceeding (or are conveyed
by Landlord in lieu of such taking), this Lease will terminate on a date which is the earlier of the date upon which the condemning
authority takes possession of the Premises or the date on which title to the Premises is vested in the condemning authority. In
the event of a partial taking where this Lease is not terminated, the Rent will be abated in the proportion of the rentable area
of the Premises so taken to the rentable area of the Premises immediately before such taking. In the event of any such taking,
the entire award relating to the Landlord’s Premises or the Property will be paid to Landlord, and Tenant will have no right
or claim to any part of such award; however, Tenant will have the right to assert a claim against the condemning authority for
loss of its business at the Premises, the value of the leasehold lost in the condemnation and any leasehold improvements installed
by Tenant which were subject to the condemnation, so long as Landlord’s award is not reduced or otherwise impacted as a
consequence of such claim, for Tenant’s moving expenses and trade fixtures owned by Tenant and interruption to Tenant’s
business.

 

Section
11.2 Notwithstanding anything hereinabove contained in this Article 11, if all or any portion of the Premises shall be lawfully
condemned or taken for any temporary public or quasi-public use, this Lease shall not terminate and Tenant shall continue to perform
or observe all of Tenant’s obligations hereunder as though such condemnation or taking had not occurred, except only as
Tenant may be prevented from so doing by reason of the lawful use and occupancy of the Premises or portion thereof affected by
such condemnation or taking during such temporary period. In the event of any such condemnation or taking, Tenant shall be entitled
to receive the award with respect to the Premises or portion thereof covered by such condemnation or taking (whether paid as damages,
rent or otherwise), unless the period of occupancy extends beyond the termination of this Lease, in which case Landlord shall
be entitled to such part of such award as shall be properly allocable to the cost of restoration of the Premises and the balance
of said award shall be apportioned between Landlord and Tenant as of the scheduled Expiration Date. If such condemnation or taking
shall end before the Expiration Date, Tenant shall, at its sole cost and expense, restore the Premises as nearly as possible to
the condition in which they were prior to such condemnation or taking.

 

Article
XII.

INSURANCE

 

Section
12.1 Tenant shall carry (at its sole expense from and after the date hereof and during the Term) the following insurance:

 

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(a)
Property Insurance with “Special Form” coverage, including earthquakes and flood insurance, insuring Tenant’s
improvements to the Premises and any and all furniture, equipment, supplies, contents and other property owned, leased, held or
possessed by it and contained therein (collectively, “Tenant’s Property”), such insurance coverage to
be equal to the full replacement cost value of Tenant’s Property, with wind and flood deductibles not exceeding the lesser
of [***] percent ([***]%) of the total insured value (“TIV”) or $[*];

 

(b)
Either as part of the above referenced property insurance or as a separate property insurance policy, business interruption insurance
coverage on an “All Risk” basis in an amount not less than the aggregate Rent payable for the eighteen (18)
month period immediately following the loss. The insurance required in this subsection shall designate Landlord as loss payee
and shall be in the broadest form available covering loss of income;

 

(c)
Workers’ compensation insurance as required by applicable law;

 

(d)
Commercial general liability insurance for the Premises in a combined coverage for bodily injury and property damage in an amount
not less than [***] Dollars ($[***]) per occurrence. Tenant shall name Landlord, Landlord’s mortgagee, the Prime Landlord,
the City of New York, Research Foundation for the State University of New York, State University of New York Downstate Medical
Center, any manager of the Building and/or the Landlord’s Premises, and any other person designated by Landlord as additional
insureds under such policy. Such policy shall insure against any and all liability for injury to or death of a person or persons
and for damage to property occasioned by or arising out of any construction work being done on the Premises by Tenant, or arising
out of the use or occupancy of the Premises by Tenant, its employees, agents, representatives or contractors. The liability coverage
shall (i) be primary insurance as to all claims thereunder and provide that any insurance carried by Landlord is excess and is
non-contributing with any insurance requirement of Tenant; (ii) contain cross-liability endorsements or a severability of interest
clause acceptable to Landlord; and (iii) specifically cover the liability assumed by Tenant under this Lease including, without
limitation, Tenant’s indemnification obligations under this Lease; and

 

(e)
Pollution/Environmental Liability Insurance covering bodily injury, including death, and property damage, including loss of use
of damaged property or use of property that has not been physically injured or destroyed, which in any event shall not be less
than [***] dollars ([***]) per occurrence, unless otherwise approved in writing by Landlord, which amount Landlord reserves the
right, based upon in its reasonable evaluation of the risk and exposures from Tenant’s use of the Premises, which limit(s)
may be increased from time to time as reasonably required by Landlord based on the Tenant’s activities and decreased from
time to time. Tenant shall name Landlord, Landlord’s mortgagee, the Prime Landlord, the City of New York, any manager of
the Building and/or the Landlord’s Premises, and any other person designated by Landlord as additional insureds under such
policy. Such insurance shall provide coverage for actual, alleged or threatened emission, discharge, dispersal, seepage, release
or escape of pollutants (including, without limitation, any Hazardous Materials, including any loss, cost or expense incurred
as a result of any cleanup of pollutants (including, without limitation, any Hazardous Materials) or in the investigation, settlement
or defense of any claim, suit or proceeding against any of the Additional Insureds arising from the activities and operations
under this Lease. The coverage for bodily injury and property damage and clean up shall apply to both on and off the Premises
(including throughout the Terminal) exposures and the shall include, without limitation, coverage for improper or inadequate:
(i) environmental management practices; (ii) biological, chemical and radioactive materials handling and waste disposal; (iii)
written emergency plans in the event of a chemical spill or release; (iv) training or supervision of staff who handle biological
materials, chemicals and hazardous wastes; (v) storage of chemicals and Hazardous Materials; and (vi) loading, unloading, transportation,
and/or off-site disposal of Hazardous Materials. Coverage must not exclude transportation (owned and non-owned vehicles) of the
Hazardous Materials to and from the Premises and all related events which may occur in the Premises and/or elsewhere in the Terminal.
Coverage must not exclude operations of basic lab support rooms (BSL 1), vector labs (BSL 2) and separate labs used for vectors
and immunology (BSL 3) and BSL 4, vaccination bioscience research laboratories, and/or related product development center).

 

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(f)
All of Tenant’s insurance shall be with responsible companies qualified to do business in the State of New York, in good
standing and holding a “general policy rating” of A-:VIII or better, as set forth in the most current issue of Best
Key Rating Guide, and shall be written on an occurrence basis (and not claims made). Landlord, Landlord’s mortgagee and
any other person designated by Landlord shall be named as additional insureds as their interests may appear with respect to commercial
general liability insurance coverage.

 

(g)
Tenant must deposit with Landlord the following for such insurance at or before Tenant or its agents, employees or contractors
enters the Premises for any purpose whatsoever, and thereafter within fifteen (15) days before the expiration of any such policies:
(i) with respect to the insurance required under Section 12.1(a) and (b), an ACORD Form 28 with changes requested by Landlord
or other form reasonably acceptable to Landlord; (ii) with respect to the insurance required under Section 12(c), a certificate
of insurance in form reasonably acceptable to Landlord; and (iii) with respect to the insurance required under Section 12(d) and
(e ), Tenant’s policy of insurance or an endorsement to Tenant’s policy in a form reasonable satisfactory to Landlord.
All insurance shall provide that Landlord shall receive at least thirty (30) days prior written notice of cancellation or amendment
to the same. All such policies or certificates shall be delivered with satisfactory evidence of the payment of the premium therefor.

 

(h)
All chemicals, molecules, laboratory data, computers, merchandise, furniture, fixtures and property which may be on or about the
Premises shall be at the sole risk and hazard of Tenant, and if the whole or any part of the Premises is destroyed or damaged
by fire, water or by the leaking or bursting of water pipes, or in any other manner, no part of such loss or damage will be charged
to Landlord.

 

Section
12.2 Landlord shall maintain during the Term, with solvent and responsible companies:

 

(a)
Building and Personal Property Coverage, with “Special Form” coverage for the Landlord’s Premises in
an amount equal to one hundred percent (100%) of the full replacement value of the Landlord’s Premises along with, at Landlord’s
option, loss of rents insurance for up to eighteen (18) months of Rent; and

 

(b)
commercial general liability insurance covering injuries occurring at the Property, which shall provide for a combined coverage
for bodily injury and property damage in an amount not less than [***] Dollars ($[***]) per occurrence.

 

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(c)
The cost of all insurance coverage provided to Landlord shall be an Operating Expense and subject to reimbursement pursuant to
Article III. All such insurance and all other insurance required by this Lease shall satisfy all requirements for insurance under
the Prime Lease and any Mortgage (as hereinafter defined). With respect to the insurance to be carried by Tenant hereunder, to
the extent that the Prime Lease or Mortgage requires higher limits, additional insurance, additional coverages or additional insureds
or otherwise imposes requirements in addition to or more onerous than the requirements set forth herein, then Tenant, on behalf
of and at the expense of Tenant, shall obtain insurance satisfying all such additional or more onerous requirements.

 

Article
XIII.

SUBROGATION AND WAIVER

 

Section
13.1 Anything in this Lease to the contrary notwithstanding, to the full extent permitted by law, Landlord and Tenant each
hereby waives any and all rights of recovery, claim, action or cause of action, against the other, its agents, servants, partners,
shareholders, officers, or employees, for any loss or damage that may occur to the Premises or the Property, or any improvements
thereto, or any personal property of such party therein, by reason of fire, the elements, or any other cause to the extent such
loss or damage is covered by the terms of a valid and collectible commercial property insurance policy with special causes of
loss coverage in effect at the time of such loss (or would have been covered by such a policy if such a policy were in effect)
regardless of cause or origin, including negligence of the other party hereto, its agents, officers, partners, shareholders, servants,
or employees, and covenants that no insurer shall hold any right of subrogation against such other party. Landlord and Tenant
will cause their respective insurers to issue appropriate waiver of subrogation rights endorsements to all policies of commercial
property insurance policy with special causes of loss coverage carried in connection with the Property and the Premises; provided
that the foregoing waiver by each party is conditioned upon the other party’s carrying insurance with the above described
waiver of subrogation, and if such coverage is not obtained or maintained by either party, then the other party’s waiver
shall be deemed rescinded until such waiver is either obtained or reinstated.

 

Article
XIV.

INDEMNIFICATION AND HOLD HARMLESS

 

Section
14.1 Tenant agrees to defend, indemnify and hold Landlord and its affiliates, subsidiaries, and parents (collectively, “Landlord
Affiliates”), and each of their (including Landlord’s) respective officers, directors, shareholders, partners,
members, representatives, agents and employees (“Landlord’s Affiliated Persons,” and Landlord, Landlord’s
Affiliates and Landlord’s Affiliated Persons, the Prime Landlord, the City of New York, the State University of New York,
Research Foundation for the State University of New York, State University of New York Downstate Medical Center being collectively
known as the “Landlord Indemnified Parties”) harmless from and against any and all liability for any injury
to or death of any person or persons or any damage to property in any way arising out of or in connection with the condition,
use or occupancy of the Premises, or in any way arising out of any activities in or about the Premises, the Landlord’s Premises
or other portions of the Property, of Tenant, its assignees or subtenants or of the respective agents, employees, licensees, contractors
or invitees of Tenant or its assignees or subtenants (each, a “Tenant Party”), and from all costs, expenses
and liabilities (including, but not limited to, court costs and reasonable attorneys’ fees) incurred by the Indemnified
Parties or any of them in connection therewith.

 

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Section
14.2 Tenant covenants and agrees that, on and after the date hereof, Landlord shall not be liable to Tenant for any injury
to or death of any person or persons or for damage to any property of Tenant, or any person claiming through Tenant, arising out
of any accident or occurrence in or about the Premises or other portions of the Landlord’s Premises or the Property, including,
but not limited to, injury, death or damage caused by the Premises or other portions of the Landlord’s Premises or the Property
arising out of repair or caused by any defect in or failure of equipment, pipes or wiring, or caused by broken glass, or caused
by the backing up of drains, or caused by gas, water, steam, electricity, or oil leaking, escaping or flowing into the Premises,
or caused by fire or smoke, or caused by the acts or omissions of other tenants and occupants of the Landlord’s Premises.

 

Section
14.3 Tenant agrees to report in writing to Landlord any defective condition in or about the Premises known to Tenant, and
further agrees to attempt to contact Landlord by telephone immediately in such instance.

 

Article
XV.

RULES AND REGULATIONS

 

Section
15.1 Tenant shall observe strictly the rules and regulations set forth in Exhibit E, and all subsequent reasonable
rules and regulations as Landlord or Landlord’s agents may from time to time adopt (such rules and regulations as have been
or may hereafter be adopted or amended are hereinafter the “Rules and Regulations”).

 

Article
XVI.

DEFAULTS BY TENANT; REMEDIES

 

Section
16.1 Tenant shall be deemed in default of the obligations to be performed by it pursuant to the provisions of this Lease if:
(a) Tenant shall fail to make payment of Rent or of any other payment reserved herein within the time provided in this Lease for
payment of same to be made; or (b) if Tenant shall fail to fulfill any of the covenants of this Lease other than the covenants
for the payments reserved herein, and said failure shall continue for a period of ten (10) days after written notice thereof from
Landlord specifying such failure (or, in the case of a default or omission the nature of which cannot be completely cured or remedied
within ten (10) days, Tenant shall not have diligently commenced curing such default within said ten (10) day period and not thereafter
with reasonable dispatch and diligence and in good faith proceeded to remedy or cure such default, all in Landlord’s reasonable
judgment); or (c) if the Premises shall become vacant or deserted; or (d) if there is any execution or attachment issued against
Tenant; or (e) if Tenant shall become insolvent or transfer property to defraud creditors; if Tenant shall make an assignment
for the benefit of creditors; or if a receiver is appointed for any of Tenant’s assets; or (f) if Tenant fails to bond off
or otherwise remove any lien filed against the Premises or the Landlord’s Premises by reason of Tenant’s actions,
within ten (10) days after Tenant has notice of the filing of such lien; or (g) if all or any part of this Lease shall be assigned,
or if all or any part of the Premises shall be sublet, either voluntarily or by operation of law, except in strict accordance
with the requirements of Article XXVIII hereof.

 

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Section
16.2 In the event of such a default by Tenant under subparagraphs (a) through (g) above, Landlord may give five (5) days notice
of its intention to end the term of this Lease and thereupon at the expiration of said five (5) days, the term of this Lease shall
expire as though such date were the Expiration Date, but Tenant shall remain liable for damages as provided in this Lease and
pursuant to law. Tenant shall then quit and surrender the Premises, but shall remain liable as hereinafter provided.

 

Section
16.3 If at any time during the term of this Lease, there shall be filed by or against Tenant in any court pursuant to any
statute either of the United States or of any State a petition in bankruptcy or insolvency or for reorganization or for the appointment
of a receiver or trustee of all or a portion of Tenant’s property, this Lease shall ipso facto be canceled and terminated.

 

Section
16.4 If the notice provided in Section 16.2 shall have been given and the term hereof shall expire as aforesaid, or if this
Lease shall have been terminated in accordance with Section 16.3, Landlord may without additional notice re-enter the Premises,
either by force or otherwise, and dispossess Tenant and the legal representative of Tenant or other occupant of the Premises by
summary proceedings or otherwise remove their effects and hold the Premises as if this Lease had not been made, and Tenant and
its legal representative or other occupant of the Premises hereby waive the service of notice of intention to re-enter or to institute
legal proceedings to that end. If Tenant shall default hereunder prior to the date fixed as the commencement of any renewal or
extension of this Lease, then Landlord may cancel and terminate such renewal or extension.

 

Section
16.5 In the case of any such default, re-entry, expiration and/or dispossess by summary proceedings or otherwise, as aforesaid,
(a) the Rent due at the time of said default shall become due thereupon and be paid up to the time of such re-entry, dispossess
and/or expiration, together with such expenses as Landlord may incur for legal expenses, attorneys’ fees, brokerage fees
and/or putting the Premises in good order or for preparing the same for re-rental; (b) Landlord may re-let the Premises or any
part or parts thereof, either in its own name or otherwise, for a term or terms which may, at its option, be shorter or longer
than the period which would otherwise have constituted the remainder of the term of this Lease and may grant concessions or free
Rent, to such extent as Landlord in Landlord’s sole judgment considers advisable and necessary to re-let the same; and (c)
Tenant or its successors shall also pay the Landlord as liquidated damages for the failure of Tenant to observe and perform its
covenants contained herein any deficiency between the Rent hereby reserved and the net amount, if any, of the rents collected
on account of the Lease or subleases of the Premises or parts thereof for each month of the period which would otherwise have
constituted the remainder of the term of this Lease subject to Tenant’s right to terminate the Lease early as provided in
Section 23.3. The failure of Landlord to re-let the Premises or any part of parts thereof shall not release or affect Tenant’s
liability for damages. In computing such liquidated damages, there shall be added to said deficiency such expenses as Landlord
shall incur in connection with such re-letting, such as legal expenses, attorneys’ fees, brokerage, advertising and for
restoring the Premises to or keeping same in good working order. Any such liquidated damages shall be paid in monthly installments
on the Rent day specified in this Lease and any suit brought to collect the amount of the deficiency for any month shall not prejudice
in any way the rights of Landlord to collect the deficiency for any subsequent month by a similar proceeding. Upon Landlord’s
permitted entry hereunder, Landlord, at its option, may make such alterations, repairs, replacements and decorations in the Premises
as Landlord in its sole judgment considers advisable or necessary for the purpose of re-letting the Premises, and the making of
such alterations and decorations shall not operate or be construed to release Tenant from liability hereunder. Landlord shall
in no event be liable in any way whatsoever for failure to re-let the Premises, or, in the event that the Premises are re-let,
for reasonable failure to collect the Rent thereof under such re-letting, and, in no event shall Tenant be entitled to receive
any excess of such net rent collected above the sums payable by Tenant to Landlord hereunder. Mention in this Lease of any particular
remedy shall not preclude Landlord from any other remedy in law or equity. Tenant hereby expressly waives any and all rights of
redemption granted by or under any present or future laws in the event of Tenant being evicted or dispossessed, for any cause,
or in the event of Landlord obtaining possession of the Premises by reason of the violation of Tenant of any of the covenants
and conditions of this Lease, or otherwise. Pursuit by Landlord of any of the foregoing remedies set forth in this Lease shall
not preclude the pursuit of any damages incurred, or of any of the other remedies provided herein or available, at law or in equity.
No act or thing done by Landlord or Landlord’s employees or agents during the Term shall be deemed an acceptance of a surrender
of the Premises. Neither the mention in this Lease of any particular remedy, nor the exercise by Landlord of any particular remedy
hereunder, or at law or in equity, shall preclude Landlord from any other remedy Landlord might have under this Lease, or at law
or in equity.

 

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Section
16.6 It is stipulated and agreed that in the event of the termination of this Lease pursuant to the provisions of this Paragraph,
Landlord shall forthwith, notwithstanding any other provisions of this Paragraph or of this Lease to the contrary, be entitled
to recover from Tenant as and for liquidated damages an amount equal to the Rent for the unexpired portion of the term of this
Lease, subject to Tenant’s right to terminate the Lease early as provided in Section 23.3, discounted at the rate of four
(4%) percent per annum to present worth. Nothing contained herein shall limit or prejudice the right of Landlord to prove for
and obtain as liquidated damages by reason of such termination an amount equal to the maximum allowed by any statute or rule of
law in effect at the time when, and governing the proceedings in which, such damages are to be proved.

 

Section
16.7 Tenant acknowledges and agrees that all disputes arising, directly or indirectly, out of or relating to this Lease should
be dealt with by application of the laws of the State of New York and adjudicated in the state courts of the State of New York
sitting in Kings County or the Federal courts sitting in the State of New York in Kings County; and hereby expressly and irrevocably
submits Tenant to the jurisdiction of such courts in any suit, action or proceeding arising, directly or indirectly, out of or
relating to this Lease. So far as is permitted under the applicable law, this consent to personal jurisdiction shall be self-operative
and no further instrument or action, other than service of process in one of the manners permitted by law, shall be necessary
in order to confer jurisdiction upon Tenant in any such court. Provided that service of process is effected upon Tenant in one
of the manners permitted by law, Tenant irrevocably waives, to the fullest extent permitted by law, and agrees not to assert,
by way of motion, as a defense or otherwise, (a) any objection which it may have, or may hereafter have to the laying of the venue
of any such suit, action or proceeding brought in such a court as is mentioned in the previous paragraph, (b) any claim that any
such suit, action or proceeding brought in such a court has been brought in an inconvenient forum, or (c) any claim that it is
not personally subject to the jurisdiction of the above named courts. Tenant hereby further irrevocably consents to the service
of process in any suit, action or proceeding by the mailing or delivery of the appropriate documents (e.g., process or summons)
by Landlord to the Premises and delivered in one of the manners set forth in Article XXV hereof. Nothing herein shall in any way
be deemed to limit the ability of Landlord to serve any such papers in any other manner permitted by applicable law.

 

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Section
16.8 If Tenant shall default in the observance or performance of any obligation of Tenant under this Lease, then, unless otherwise
provided elsewhere hereunder, Landlord may immediately or at any time thereafter without notice perform such obligation of Tenant
without hereby waiving such default. If Landlord, in connection therewith incurs any costs including, but not limited to, attorneys’
fees in instituting, prosecuting or defending any action or proceeding, such costs with interest at the rate of five (5%) percent
per annum, shall be deemed to be Additional Rent hereunder and shall be paid by Tenant to Landlord within five (5) days of rendition
of any bill or statement to Tenant therefor.

 

Article
XVII.

CONDITION OF PREMISES

 

Section
17.1 Tenant accepts the Premises in “as is” condition, and Tenant acknowledges that Landlord makes no representation
as to the conditions thereof, except as herein set forth.

 

Article
XVIII.

ASSIGNMENT AND SUBLETTING

 

Section
18.1 Tenant shall not assign, mortgage, pledge, encumber, or in any manner transfer the Lease, or any part thereof, or lease
all or any part of the Premises, other than in compliance with the provisions of this Article XVIII. Tenant is further responsible
for complying with the provisions of Article XI of the Prime Lease as it pertains to Tenant’s intention to enter into a
sublease or assign its interest in this Lease.

 

Section
18.2 Each of the following events shall be deemed to constitute an assignment of the Lease:

 

(a)
Any assignment of transfer of the Lease by operation of law;

 

(b)
Any hypothecation, pledge or collateral assignment of the Lease;

 

(c)
Any involuntary assignment or transfer of the Lease in connection with the bankruptcy, insolvency, receivership or similar occurrence;

 

(d)
Any assignment, transfer, disposition, sale or acquiring of a controlling interest in Tenant to or by any person, entity or group
related persons or affiliated entities, whether in a single transaction or in a series of related or unrelated transactions; and

 

(e)
Any issuance of an interest or interests in Tenant (whether stock, partnership interest or otherwise) to any person, entity or
group of related persons or affiliated entities, whether in a single transaction or in a series of related or unrelated transactions,
such that following such issuance, such person, entity or group shall hold a controlling interest in Tenant. For purposes of the
immediately preceding sentence, a “controlling interest” of Tenant shall mean fifty (50%) percent or more of the aggregate
issued and outstanding equitable interest (whether stock, partnership interest or otherwise) thereof.

 

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Section
18.3 Tenant shall not sublet any part of the Premises, nor assign, pledge or encumber this Lease or any interest herein, without
the prior written consent of Landlord, which consent may be granted or withheld by Landlord in its sole discretion. Consent by
Landlord to one assignment or sublease shall not destroy or waive this provision, and all later assignments and subleases shall
likewise be made only upon prior written consent of Landlord. In the event a sublease or assignment is consented to by Landlord,
any sublessees or assignees shall become liable directly to Landlord for all obligations of Tenant hereunder without relieving
or in any way modifying Tenant’s liability hereunder, but rather Tenant and its transferee shall be jointly and severally
liable therefor. In the event Landlord gives its consent to any such assignment or sublease, any rent or other cost to the assignee
or subtenant for all or any portion of the Premises over and above the Rent payable by Tenant for such space shall be due and
payable, and shall be paid, to Landlord. In the event a sublease or assignment is made as herein provided, Tenant shall pay Landlord
a charge equal to the actual costs incurred by Landlord, in Landlord’s reasonable judgment (including, but not limited to,
the use and time of Landlord’s personnel), for all of the necessary legal and accounting services required to accomplish
such assignment or subletting, as the case may be. Any transfer, assignment or sublease of all or any portion of the Premises
or Tenant’s interest under this Lease made without Landlord’s consent shall be void ab initio and of no force or effect.
For the purpose of determining whether Landlord acted reasonably in granting or withholding its consent or approval to any assignment,
sublease or other transfer to the extent required hereunder, Tenant acknowledges and agrees that Landlord may refuse to give such
consent or approval if, and to the extent that, the Prime Lessor or the Mortgagee (as defined herein) has refused to provide any
required consent or approval with respect to such assignment, sublease or other transfer.

 

Section
18.4 Landlord may, within thirty (30) days after submission of Tenant’s written request for Landlord’s consent
to subletting or an assignment of this Lease, cancel this Lease as to the portion of the Premises proposed to be sublet or assigned
as of the date such proposed transfer is to be effective. If Landlord cancels this Lease as to any portion of the Premises, then
this Lease shall cease for such portion of the Premises and Tenant shall pay to Landlord all Rent accrued through the cancellation
date relating to the portion of the Premises covered by such proposed transfer. Thereafter, Landlord may lease such portion of
the Premises to the prospective transferee (or to any other person) without liability to Tenant.

 

Section
18.5 Nothing in this Lease or any assignment, subletting, encumbrance or transfer of this lease or any part thereof shall
be deemed to permit the use of the Building or the Lease Premises in any manner other than that authorized by Article IV of this
Lease.

 

Article
XIX.

HAZARDOUS MATERIALS

 

Section
19.1 Tenant shall not cause or permit any Hazardous Material (as hereinafter defined) to be brought upon, kept or used in
or about the Premises by Tenant, its agents, employees, contractors or invitees except in quantities and in a manner authorized
by applicable Governmental Laws (defined below) and in the ordinary course of Tenant’s business. Tenant further covenants
and agrees that it shall not discharge any Hazardous Material in the ground or sewer disposal system. If Tenant breaches the obligations
stated in the preceding sentences, or if the presence of Hazardous Material on the Premises caused by Tenant, its employees, contractors,
invitees, agents, servants, subtenants or assigns, results in contamination of the Premises or any other part of the Property
or if there is such a discharge, then Tenant shall (a) immediately give Landlord written notice thereof, and (b) be responsible
for its indemnification obligations under Section 14.1 hereof which arise during or after the term as a result of such breach,
contamination, or discharge. The foregoing indemnification includes, without limitation, costs incurred in connection with any
investigation of site conditions or any cleanup, remedial, removal or restoration work required by any federal, state or local
governmental agency or political subdivision. Without limiting the foregoing, if the presence of any Hazardous Material within
the Premises caused or permitted by Tenant results in any contamination of the Premises or any other part of the Building or Land,
Tenant shall promptly take all actions at its sole expense as are necessary to return the Premises or any facility or property
of Landlord to the condition existing prior to the introduction of any such Hazardous Material.

 

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Section
19.2 As used herein, the term “Governmental Laws” means all federal, state (including SUNY), regional,
and local statutes, ordinances, rules, regulations, guidelines, and the like, and any notices and orders issued pursuant to any
of the foregoing, concerning Hazardous Materials or public health and the environment. As used herein, the term “Hazardous
Materials” means any pollutants, hazardous or toxic materials, substances or wastes, including, but not limited to:
petroleum and petroleum products and derivatives; asbestos; radon; polychlorinated bi-phenyls (PCBs); urea-formaldehyde foam insulation;
explosives; radioactive materials; laboratory wastes, medical wastes and other regulated wastes (including, without limitation,
contaminated clothing, body fluids, contaminated medical instruments and equipment, catheters, used bandages, gauzes, needles
and other sharps); and any chemicals, materials or substances designated or regulated, as hazardous or as toxic substances, materials,
or wastes under any Governmental Laws.

 

Section
19.3 Any handling, transportation, generation, management, disposal, processing, treatment, storage and use by Tenant of Hazardous
Materials in or about the Premises shall be subject to the rules and regulations promulgated by Landlord from time to time regarding
the same or any aspect thereof (which rules and regulations may be amended, modified, deleted or added from time to time by Landlord)
(collectively, the “Hazmat Rules”). All of the Hazmat Rules shall be effective upon written notice thereof
to Tenant. Tenant will cause all Tenant Parties, or any others permitted by Tenant to occupy or enter the Premises to at all times
abide by the Hazmat Rules. In the event of any breach of any Hazmat Rules, Landlord shall have all remedies in this Lease provided
for in the Event of Default by Tenant and shall, in addition, have any remedies available at law or in equity, including but not
limited to, the right to enjoin any breach of such Hazmat Rules. Within thirty (30) days after the Commencement Date and thereafter
within ten (10) days of request therefore, Tenant shall provide to Landlord a written list of all Hazardous Materials and/or Regulated
Waste handled, transported, generated, managed, disposed, processed, treated, stored and used in or about the Premises, together
with such other information as Landlord may reasonably request (including, without limitation, information regarding the quantity
of such materials in or about the Premises and Tenant’s procedures for the use, storage, transportation and/or disposal
of such materials).

 

Section
19.4 In addition to the foregoing, Tenant agrees not to use or permit the use of biohazardous agents requiring a degree of
containment in excess of that described as National Institutes of Health Biosafety Level 2, as defined in the U.S. Department
of Health and Human Services, Public Health Service, Centers for Disease Control and Prevention and National Institutes of Health,
Biosafety in Microbiological and Biomedical Laboratories, dated May 1993 and any updates or revisions thereto (the “DHH
Specifications”), and to conduct all scientific research and development activities in conformity with at least the
minimum practices, equipment and facilities recommended for such activities in the DHH Specifications.

 

    	27

     

    

 

Section
19.5 Landlord and its agents shall have the right, but not the duty, to inspect the Premises at any time upon reasonable notice
to determine whether Tenant is complying with the terms of this Article XIX. If Tenant is not in compliance with the provisions
of this Article XIX, Landlord shall have the right to immediately enter upon the Premises to remedy said noncompliance upon reasonable
notice at Tenant’s expense and any expense incurred by Landlord shall be paid by Tenant upon demand and shall be deemed
Additional Rent.

 

Article
XX.

NON-WAIVER OF LANDLORD’S RIGHTS

 

Section
20.1 The failure of Landlord to insist upon strict performance of any of the covenants or conditions of this Lease or to exercise
any option herein conferred in any one or more instances, shall not be construed as a waiver or relinquishment for the future
of any such covenant, conditions or options, but the same shall be and remain in full force and effect.

 

Article
XXI.

SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT.

 

Section
21.1 This Lease is and shall be subject and subordinate to all mortgages and deeds of trust and to all renewals, modifications,
consolidations, replacements, and extensions of such documents (collectively, “Mortgages”) which may now or
hereafter affect the Premises; provided, however, that at Landlord’s election, this Lease shall be superior to any or all
Mortgages. The subordination in this Section 21.1 is self-executing and no further instrument shall be required to establish the
subordination set forth herein. Upon request of Tenant, and at Tenant’s sole cost and expense, Landlord shall endeavor to
obtain and deliver to Tenant from any present or future mortgagee (collectively, the “Mortgagee”) such Mortgagee’s
customary and reasonable form of written subordination, non-disturbance and attornment agreement in recordable form providing,
among other things, that so long as Tenant performs all of the terms, covenants and conditions of this Lease and agrees to attorn
to the Mortgagee, on such customary terms and conditions as such Mortgagee may reasonably require, Tenant’s rights under
this Lease shall not be disturbed and shall remain in full force and effect for the Term, and Tenant shall not be joined by the
Mortgagee in any action or proceeding to foreclose thereunder. In addition, this Lease is and shall be subject and subordinate
to the existing Ground Lease and any other existing underlying leases affecting the Premises and to all renewals, modifications,
consolidations, replacements, and extensions thereof. If any Mortgagee requests a Subordination Non-Disturbance and Attornment
Agreement (a “SNDA from Tenant, then Tenant shall execute and deliver to Mortgagee such Mortgagee’s form of SNDA in
recordable form within twenty (20) days of such request.

 

Section
21.2 After receiving notice and a notice address from any Mortgagee, no notice from Tenant to Landlord alleging any default
by Landlord shall be effective unless and until a copy of the same is given to such Mortgagee. Any such Mortgagee shall have thirty
(30) days for the cure of any such default and if such default cannot reasonably be cured within such thirty (30) days, then Mortgagee
shall have thirty (30) days within which to commence a cure and provided such Mortgagee is proceeding diligently, such longer
period as may be reasonably necessary to complete such cure. The curing of any of Landlord’s defaults by such Mortgagee
shall be treated as performance by Landlord.

 

    	28

     

    

 

Section
21.3 With respect to any assignment by Landlord of Landlord’s interest in this Lease, or the rents payable hereunder,
conditional in nature or otherwise, which assignment is made to any Mortgagee, Tenant agrees that the execution thereof by Landlord,
and the acceptance thereof by the Mortgagee, shall never be deemed an assumption by such Mortgagee of any of the obligations of
Landlord hereunder, unless such Mortgagee shall, by written notice sent to Tenant, specifically elect, or unless such Mortgagee
shall foreclose the Mortgage and take possession of the Premises. Tenant, upon receipt of written notice from a Mortgagee that
such Mortgagee is entitled to collect Rent hereunder may in good faith remit such Rent to Mortgagee without incurring liability
to Landlord for the non-payment of such Rent.

 

Section
21.4 If the Mortgagee, or any party deriving its interest therefrom shall succeed to the rights of Landlord in the Premises
or under this Lease, whether through possession or foreclosure action or delivery of a new lease or deed, then Tenant shall attorn
to and recognize such party succeeding to Landlord’s rights (the party so succeeding to Landlord’s rights herein sometimes
called the “Successor Landlord”) as Tenant’s landlord under this Lease, and shall promptly execute and
deliver any instrument that such Successor Landlord may reasonably request to confirm such attornment. This Lease shall continue
in full force and effect as, or as if it were, a direct lease between the Successor Landlord and Tenant, and all of the terms,
conditions and covenants set forth in this Lease shall be applicable after such attornment, except that the Successor Landlord
shall not:

 

(a)
be liable for any previous act or omission of Landlord under this Lease;

 

(b)
be subject to any offset that shall have theretofore accrued to Tenant against Landlord; or

 

(c)
be bound by:

 

(i)
any previous modification of this Lease, not expressly provided for in this Lease unless consented to by such Successor Landlord;
or

 

(ii)
any security deposit not delivered to such Successor Landlord or previous prepayment of more than one (1) month’s Rent then
due, unless such prepayment shall have been expressly approved in writing by the Mortgagee through or by reason of which the Successor
Landlord shall have succeeded to the rights of Landlord under this Lease.

 

Article
XXII.

QUIET ENJOYMENT

 

Section
22.1 Landlord covenants and agrees that upon Tenant paying the Rent and any other charges and fees payable hereunder and observing
and performing all the terms, covenants and conditions of the Lease on Tenant’s part to be performed, Tenant may peaceably
and quietly enjoy the Premises during the term of this Lease without hindrance or molestation by anyone claiming by or through
Landlord subject, nevertheless, to the terms, covenants and conditions of this Lease.

 

    	29

     

    

 

Article
XXIII.

END OF TERM

 

Section
23.1 Upon the expiration or earlier termination of this Lease, Tenant shall quit and surrender to Landlord the Premises broom-clean
and in good condition, ordinary wear and tear excepted. Tenant shall remove all of its property and shall repair all damage to
the Premises or the Building occasioned by such removal. Any property not removed from the Premises shall be deemed abandoned
by Tenant and may be disposed of in any manner deemed appropriate by Landlord, the cost of the removal and repairs occasioned
by such removal to be at Tenant’s expense. Tenant’s obligations to observe or perform the terms of this Paragraph
shall survive the expiration or earlier termination of this Lease. Tenant expressly waives, for itself and for any person claiming
through or under Tenant, any rights which Tenant or such person may have under the provisions of Section 2201 of the New York
Civil Practice Law and Rules and any similar successor law of the same import then in force, in connection with any holdover proceedings
which Landlord may institute to enforce the provisions of this Article XXIII.

 

Section
23.2 If Tenant remains in possession of the Premises after expiration of the Term, or after any permitted termination of the
Lease by Landlord, with Landlord’s acquiescence and without any written agreement between the parties, Tenant shall be a
tenant at sufferance and such tenancy shall be subject to all the provisions hereof, except that the monthly Base Rent for said
holdover period shall be [***] percent ([***]%) the amount of Base Rent due in the last full month of the Term, and Tenant shall
pay 1/12th of the previous year’s charges for all Additional Rent for each hold-over month. There shall be no renewal of
this Lease by operation of law. Nothing in this Section shall be construed as a consent by Landlord to the possession of the Premises
by Tenant after the expiration or earlier termination of the Term. In the event of any unauthorized holder-over, Tenant shall
indemnify and hold harmless Landlord against all claims for damages by any other tenant to whom Landlord may have leased all or
any part of the Premises effective upon the termination of this Lease. Anything in this Article to the contrary notwithstanding,
the acceptance of any rent paid by Tenant pursuant to this Article XXIII shall not preclude Landlord from commencing and prosecuting
a holdover or summary eviction proceeding, and the preceding sentence shall be deemed to be an “agreement expressly providing
otherwise” within the meaning of Section 232-C of the Real Property Law of the State of New York and any successor law of
like import.

 

Section
23.3 On or before the first day of the thirtieth month following the Commencement Date, either party hereto may, at any time,
provide notice of its intent to terminate this Lease early for any reason including for its convenience. Tenant’s ability
to provide such notice is subject to it being in compliance with all of its obligations hereunder, and there being no then-current
uncured default under Article XVI hereof. Such notice shall be in writing and may or may not specify a reason for the early termination.
If notice is given, the early termination date shall be the first day of the thirty sixth month following the Commencement Date
(the “Early Termination Date”). If Tenant chooses, in its discretion to specify a reason for its early termination,
Landlord shall have thirty days in which to remedy or propose a remedy and to propose a schedule of implementation of the remedy
which may or may not be accepted in the sole discretion of Tenant. In the event that Tenant elects to terminate this Lease early
for reason unrelated to Landlord’s default hereunder, Tenant shall be responsible for the unamortized costs Landlord’s
Work and leasing commissions.

 

    	30

     

    

 

Article
XXIV.

NOTICES

 

Section
24.1 Any notice permitted ‘or required to be given by the terms of this Lease, or by any law or governmental regulation,
shall be in writing. Unless otherwise required by such law or regulation, such notice shall be given, and shall be deemed to have
been served and given when (1) deposited by registered or certified mail enclosed in a securely closed postpaid wrapper, in a
United States Government general or branch post office, addressed to Landlord at the following addresses:

 

BioBAT
Executive Director

c/o Downstate Medical Center

450 Clarkson Avenue

Brooklyn, New York 11203

 

BioBAT
President

c/o Downstate Medical Center

450 Clarkson Avenue

Brooklyn, New York 11203

 

Secretary
of BioBAT Board

110 William Street

New York, New York 10038

 

and
to Tenant at the Premises. Either party may, by notice as aforesaid designate a different address or addresses for notices, requests
or demands to it. Any notice required to be given by Landlord under the provisions of this Article may be given by Landlord or
Landlord’s managing agent or counsel.

 

Article
XXV.

SUCCESSORS AND ASSIGNS

 

Section
25.1 The terms, agreements, covenants and conditions contained in this Lease are binding upon and shall inure to the benefit
of the parties hereto and their respective successors and assigns, except that Tenant shall have no right to assign this Lease
or to Lease the space described herein without the express consent of the Landlord in writing except as otherwise provided in
Article XVIII.

 

Article
XXVI.

SIGNS

 

Section
26.1 Tenant shall not erect any sign in, on or about the Premises, the Building and/or the Property without the prior written
consent of Landlord, which consent shall not be unreasonably withheld. Notwithstanding the foregoing, Tenant shall be permitted
to place its name on the front entrance to the Premises and on all building directories. Tenant agrees and covenants that all
such signs shall be in accordance with any applicable statutes, ordinances, codes, rules and/or regulations of any governmental
authority and that Tenant shall maintain such signs and keep the same in a good state of repair.

 

    	31

     

    

 

Article
XXVII.

SECURITY

 

Section
27.1 Tenant has deposited with Landlord a sum of equal to [***] months Base Rent as of the date of this Lease Agreement as
security for the faithful performance and observance by Tenant of the terms, provisions and conditions of the Lease. Landlord
shall place the security in a non-interest-bearing account. It is agreed that in the event Tenant defaults in respect to any of
the terms, provisions and conditions of the Lease, including, but not limited to, the payment of Rent, Landlord may use, apply
or retain the whole or any part of the security so deposited to the extent required for the payment of any Rent or any other sum
as to which Tenant is in default or for any sum which Landlord may expend or may be required to expend by reason of Tenant’s
default, including but not limited to, any damages or deficiency in the reletting of the Premises, whether such damages or deficiency
accrued before or after summary proceedings or other re-entry by Landlord. If any portion of the security is so used, applied,
or retained, Tenant shall, within five (5) days after written demand therefor by Landlord, deposit cash with Landlord in an amount
sufficient to restore the security to its original amount. In the event that Tenant shall fully and faithfully comply with all
of the terms, provisions, covenants and conditions of the Lease, the security shall be returned to Tenant within thirty days following
termination of the Lease as provided in Article XXIII and after delivery of possession of the Premises to Landlord. In the event
of an assignment by Landlord of its estate in this Lease, Landlord shall have the obligation to transfer the security to the assignee
and Landlord shall thereupon be released by Tenant from all liabilities for the return of such security. In the event of such
assignment, Tenant agrees to look solely to the new Landlord for the return of such security. It is further agreed that the provisions
hereof shall apply to every transfer or assignment made of the security to a new Landlord. Tenant further covenants that it will
not assign or encumber or attempt to assign or encumber the monies deposited herein as security and that neither Landlord nor
its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.

 

Article
XXVIII.

LIMITATION OF LIABILITY

 

Section
28.1 Landlord or its employees and agents shall not be liable for any damages or injury to property of Tenant or of any other
person, including property entrusted to employees of Landlord, nor loss of or damage to any property of Tenant by theft or otherwise,
nor for any injury or damage to persons or property resulting from any cause whatsoever, nor shall Landlord or its agents or employees
be liable for any such damage caused by other tenants or persons in, upon or about the Building, or caused by operations in construction
of any private, public or quasi-public work.

 

Article
XXIX.

LATE PAYMENTS

 

Section
29.1 Any payment of Rent or any other charges or fees not made within fifteen (15) days of the due date thereof shall have
interest added at the rate of [***] ([***]%) percent per annum from the due date thereof

 

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Article
XXX.

BROKER

 

Section
30.1 Tenant represents that there was no broker responsible for bringing about or negotiating this Lease except for Colliers
International NY LLC, concerning which Landlord will pay an applicable single commission pursuant to a separate agreement. Tenant
agrees to defend, indemnify, and hold the Landlord Indemnified Parties harmless against any claims for brokerage commission or
compensation with regard to the Premises by any broker claiming or alleging to have acted on behalf of or to have dealt with Tenant.

 

Article
XXXI.

TENANT TO PROVIDE FINANCIAL STATEMENT

 

Section
31.1 Tenant agrees that upon request by Landlord it will furnish to the Landlord such latest available financial statement
as Landlord may require.

 

Article
XXXII.

TENANT’S REMEDIES

 

Section
32.1 With respect to any provision of this Lease which provides, in effect, that Landlord shall not unreasonably withhold
or unreasonably delay any consent or any approval, Tenant in no event shall be entitled to make, nor shall Tenant make, any claim,
and Tenant hereby waives any claim, for money damages; nor shall Tenant claim any money damages by way of setoff, counterclaim
or defense, based upon any claim or assertion by Tenant that Landlord has unreasonably withheld or unreasonably delayed any consent
or approval; but Tenant’s sole remedy shall be an action or proceeding to enforce any such provision, or for specific performance,
injunction or declaratory judgment.

 

Article
XXXIII.

TENANT’S ESTOPPEL CERTIFICATE

 

Section
33.1 At any time and from time to time, and within ten (10) days after request by Landlord, Tenant agrees to execute, acknowledge
and deliver to Landlord, a written statement certifying (a) that this Lease is unmodified and in full force and effect (or if
there have been modifications that the same is in full force and effect as modified and identifying the modifications), (b) the
dates to which the Rent and other charges have been paid, (c) that there are no offsets to the payment of Rent, (d) that Landlord
is not in default under any provisions of the Lease and (e) any other certification reasonably requested by Landlord. It is intended
that any such statement may be relied upon by any person proposing to acquire Landlord’s interest in this Lease or any prospective
mortgagee of, or assignee of any mortgage upon such interest.

 

Article
XXXIV.

WAIVERS BY TENANT

 

Section
34.1 Tenant, for itself, and on behalf of any and all persons claiming through or under it, including creditors of all kinds,
does hereby waive and surrender all right and privilege which they or any of them might have under or by reason of any present
or future law, to redeem the Premises or to have a continuance of this Lease for the term hereby demised after having been dispossessed
or ejected therefrom by process of law or after the termination of this Lease as provided herein.

 

    	33

     

    

 

Section
34.2 Tenant hereby waives the right to trial by jury in any action, summary proceeding, legal proceeding or counterclaim between
or among the parties hereto or their successors or assigns on any matters whatsoever arising out of or in any way connected with
this Lease, the relationship of Landlord and Tenant, Tenant’s use of or occupancy of the Premises and any emergency statutory
or any other statutory remedy.

 

Section
34.3 Supplementing and in furtherance of the provisions of this Article XXXIV, hereof, Tenant hereby waives the right to interpose
a counterclaim of whatever nature or description in any summary proceeding instituted by Landlord against Tenant for possession
of the Premises or in any action or proceeding instituted by Landlord for unpaid Rent or other sums or charges payable by Tenant
under this Lease. Such waiver is not intended to deny Tenant any right it may have to commence a separate proceeding against Landlord
for any legal or equitable claims Tenant may have against Landlord.

 

Article
XXXV.

EXCULPATION

 

Section
35.1 Notwithstanding anything to the contrary contained herein, Tenant shall look solely to the interest of Landlord in the
Lease and the Premises for the satisfaction of any of Tenant’s remedies with regard to the payment of money or otherwise,
and no other property or assets of Landlord shall be subject to levy, execution or other enforcement procedures for the satisfaction
of Tenant’s remedies or with respect to this Lease, the relationship of Landlord and Tenant hereunder or Tenant’s
use or occupancy of the Premises, such exculpation of personal liability to be absolute.

 

Article
XXXVI.

EFFECT OF CONVEYANCE BY LANDLORD

 

Section
36.1 If Landlord shall validly assign or transfer this Lease and deliver to Tenant an agreement, in recordable form or a counterpart
thereof, executed by the assignee or transferee whereupon such assignee or transferee agrees to assume performance of all the
covenants to be performed by Landlord from and after the date of such delivery to Tenant, then Landlord shall be relieved and
discharged from any and all liabilities thereafter accruing under this Lease.

 

Article
XXXVII.

SUBSTITUTE SPACE

 

Section
37.1 At any time during the term of this Lease, Landlord shall have the right to substitute for the Premises other space in
Landlord’s Premises (such other space hereinafter called the “Substitute Premises”) by written notice
given to Tenant not later than sixty (60) days prior to the date set forth in said notice as the effective date (hereinafter,
the “Substitution Date”) for such substitution. Landlord’s notice shall include a floor plan identifying
the Substitute Premises, which premises shall have a rentable area equal to or greater than the Premises. Tenant shall vacate
the Premises and surrender the same to Landlord on or before the Substitution Date. Tenant’s Base Rent for the Substitute
Premises shall be no greater than the Rent on the prior Premises regardless of the increased size of the Substitute Premises.
Landlord shall, promptly, after Tenant enters into occupancy of the Substitute Premises and provided Tenant is not then in default
of any of the terms or conditions of this Lease, reimburse Tenant for any basic equipment transfer costs and expenses incurred
by Tenant in connection with the substitution made hereunder which exceed those costs and expenses which would have been incurred
by Tenant had the substitution not been made upon presentation of invoices therefor. From and after the Substitution Date, the
term “Premises” shall mean the Substitute Premises for all purposes hereunder.

 

    	34

     

    

 

Article
XXXVIII.

VENDEX

 

Section
38.1 Tenant represents that it will and it will cause all subsequent assignees and transferees of this Lease to submit to
the City’s Vendex background investigation (or any similar or successor system serving the same function) and/or Landlord’s
due diligence including, but not limited to, the Internal Background Investigation Questionnaire (or any similar or successor
system serving the same function) sixty (60) days prior to the transfer and shall require them to make the same representations
contained in this Article.

 

Section
38.2 Tenant represents, warrants and covenants that neither Tenant nor any person or entity that directly or indirectly controls
or is controlled by or is under common control with the Tenant or, to Tenant’s knowledge, any contractor, subcontractor,
or any consultant that will be involved with Tenant’s operations at the Demised Premises:

 

(a)
is in default or in breach, beyond any applicable grace period, of its obligations under any written agreement with Prime Landlord
or New York City, unless such default or breach has been waived in writing by the Prime Landlord or New York City, as the case
may be;

 

(b)
has been convicted of a misdemeanor and/or found in violation of any administrative, statutory, or regulatory provision in the
past five (5) years;

 

(c)
has been convicted of a felony, and/or crime related to truthfulness and/or business conduct in the past ten (10) years;

 

(d)
has any felony, misdemeanor and/or administrative charges currently pending;

 

(e)
has received written notice of default in the payment to New York City of any taxes, sewer rents or water charges, unless such
default is then being contested with due diligence in proceedings in a court or other appropriate forum; or

 

(f)
has owned at any time in the preceding three (3) years any property which, while in the ownership of such person, was acquired
by New York City by in rem tax foreclosure, other than a property in which New York City has released or is in the process of
releasing its interest to such person pursuant to the Administrative Code of New York City.

 

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Article
XXXIX.

EXPANSION
OPTION

 

Section
39.1 Provided that no Event of Default, or an event which, upon the giving of notice or the passage of time could become and
Event of Default, has occurred and is continuing under this Lease at such time, Tenant shall have the right to lease the Additional
Space shown on Exhibit A at any time prior to the first anniversary of the Commencement Date. If Tenant desires to lease
the Additional Space, Tenant shall give notice (the “Tenant Election Notice”) to Landlord. If Tenant shall
fail to deliver such Tenant Election Notice prior to the first anniversary of the Commencement Date, then Landlord shall have
the right to lease all or any portion of such Additional Space to any third party on any terms Landlord shall elect and Tenant
shall have no further right whatsoever to lease all or any portion of the Additional Space.

 

Section
39.2 If Tenant shall deliver a Tenant Election Notice within the period set forth in Section 39.1, the following shall apply:

 

(a)
the Additional Space shall be added to and deemed a part of the Premises thirty (30) days after delivery of Tenant’s Election
Notice (the “Additional Space Commencement Date”) upon the same terms and conditions of this Lease, as the
same may be modified in accordance with the following provisions of this Section 39.2;

 

(b)
the Base Rent shall be increased on the Additional Space Commencement Date by an amount equal to the Additional Space Base Rent,
which shall be calculated by multiplying the rentable square footage of the Additional Space by the then-current annual Base Rent
per square foot;

 

(c)
the term of this Lease with respect to the Additional Space shall be coterminous with the Term under this Lease and shall expire
on the same date as the Expiration Date (as it may have been extended) hereunder;

 

(d)
the Additional Space shall be delivered in its “as is” condition (i) as a “warm lit shell” with electric
service and HVAC stubbed to the Additional Space and (ii) sprinkler heads installed and turned up for Life Safety. Landlord shall
have no obligation to perform any other work or make any installation in or to the Additional Space. Landlord shall allow Tenant
a construction allowance of [***] ($[***]) Dollars per rentable square foot of the Additional Space, to be paid against third-party
invoices for work completed in the Additional Space as certified by Tenant’s architect and accompanied by lien waivers and
other reasonable documentation as required by Landlord for the completed work;

 

(e)
Tenant’s Pro Rata Share shall be increased ratably by the rentable square footage of the Additional Space; and

 

(f)
All other terms and conditions relating to the lease, use and occupancy of the Additional Space shall be as set forth in this
Lease.

 

Article
XL.

EXTENSION OPTION

 

Section
40.1 Provided that no Event of Default, or an event which, upon the giving of notice or the passage of time could become and
Event of Default, has occurred and is continuing under this Lease at the time Tenant exercises the Renewal Option (defined below)
or at the commencement of the Renewal Term (defined below), Tenant shall have the option (the “Renewal Option”)
to renew this Lease for one additional term (the “Renewal Term”) of five (5) years by giving Landlord written
notice (the “Option Notice”) no earlier than two years but no later than one year prior to the end of the initial
Term. If Tenant fails to deliver to Landlord the Option Notice on or before the date that is one year prior to the end of the
initial Term, time being of the essence hereunder, the option to renew this lease for the Renewal Term shall terminate and be
of no further force and effect and Tenant shall have no further right to extend or renew this Lease. The Renewal Term shall be
on the same terms and conditions as set forth in this Lease, except that Landlord may elect, in its sole discretion and at no
cost to Tenant, to relocate the Premises to another location in the Landlord’s Premises selected by Landlord. Base Rental
during the first year of the Renewal Term shall be the greater of (i) [***] ([***]%) percent of the Base Rental last in effect
during the initial Term and (ii) Market Rent (as hereinafter defined) for renewals of tenant space in comparable quality buildings
in the area in which the Premises is located.

 

    	36

     

    

 

(a)
“Market Rent” shall be determined as follows: No later than nine (9) months prior to the Expiration Date, Landlord
will advise Tenant of its determination of the Market Rent. If Landlord and Tenant cannot agree on the Market Rent within thirty
(30) days of the date that Landlord provides Tenant with Landlord’s determination of the Market Rent, then within thirty
(30) days after such failure to reach agreement, Landlord shall furnish to Tenant a notice in writing (“Landlord’s
Notice”) stating what Landlord perceives to be Market Rent based on a statement from a qualified real estate appraiser
retained by Landlord at Tenant’s reasonable cost and expense stating the appraiser’s opinion of Market Rent effective
as of the commencement date of the Renewal Term and that it has been determined in accordance with this Paragraph. If the Tenant
disagrees with the estimate of Market Rent submitted by Landlord with Landlord’s Notice, then within thirty (30) days after
receipt of Landlord’s Notice, Tenant shall have the right to submit to Landlord a statement by a qualified real estate appraiser
retained by Tenant at Tenant’s cost and expense stating the appraiser’s opinion of Market Rent effective as of the
commencement date of the Renewal Term and that it has been determined in accordance with this Paragraph. If the higher estimate
is not more than [***]% of the lower estimate, the Market Rent shall be established as the average of the two appraisals. If the
higher estimate is greater than [***]% of the lower estimate, the two appraisers acting on behalf of Landlord and Tenant, shall,
within fifteen (15) days after Tenant’s statement has been submitted, jointly appoint a third qualified real estate appraiser
(the “Referee”) at Tenant’s cost. If the two appraisers are unable to agree upon the selection of a Referee,
then the Referee shall be selected within fifteen (15) days thereafter by an arbitrator pursuant to the rules of the American
Arbitration Association. The Referee shall, within thirty (30) days after appointment, render his decision which decision shall
be strictly limited to choosing one of the two determinations made by the two appraisers chosen by Landlord and Tenant with respect
to Market Rent. The decision of the Referee shall be binding upon Landlord and Tenant and shall constitute Market Rent for the
purposes of determining the Base Rental. The cost of the Referee shall be shared equally by Landlord and Tenant. In determining
Market Rent, the appraisers shall each take into account the following: (A) the amount of space and length of term taken by the
Tenant; (B) the credit worthiness and quality of Tenant; and (C) rent in comparable buildings in the relevant competitive market.
In determining Market Rent, the appraisers shall exclude from consideration: (A) tenant improvements installed by Tenant; (B)
alterations installed by Tenant at its expense, during the Term; and (C) concessions offered to new tenants such as free rent,
tenant improvement allowances, moving allowances and other concessions.

 

    	37

     

    

 

Article
XLI.

MISCELLANEOUS

 

Section
41.1 This Lease is transmitted for examination only and does not constitute an offer to Lease. This Lease shall become effective
only upon execution hereof by the parties hereto and delivery by Landlord to Tenant of an executed Lease.

 

Section
41.2 This instrument contains the entire and only agreement between the parties. No oral statements or representations or
prior written matter not contained herein shall have any force or effect.

 

Section
41.3 This Lease shall not be modified, changed, or amended in any way or canceled, terminated or abridged except by a writing
subscribed by both parties.

 

Section
41.4 This Lease may be executed in one or more counterparts each one of which shall be deemed an original. E-mail and facsimile
signatures shall also be sufficient to bind the parties hereto.

 

Section
41.5 If any term or provision of this Lease or the application thereof to any person or circumstances shall, to any extent,
be invalid unenforceable, the remainder of this Lease, or the application of such term or provision to persons or circumstances
other than those as to which it is held invalid or unenforceable, shall not be affected thereby and each term and provision of
this Lease shall be valid and enforced to the fullest extent permitted by law.

 

Section
41.6 Landlord shall be excused for the period of any delay and shall not be deemed in default with respect to the performance
of any of the terms, covenants, and conditions of this Lease when prevented from so doing by causes beyond its reasonable control,
which shall include, but not be limited to (a) strike, lockout or other labor troubles, (b) governmental restrictions or limitations,
(c) failure or shortage of electrical power, gas, water, fuel oil, or other utility or service, (d) riot, war, insurrection or
other national or local emergency, (e) accident, flood, fire or other casualty, (f) adverse weather condition, (g) other act of
God, (h) delay in ability or inability to obtain a building permit or a certificate of occupancy or (i) other cause similar or
dissimilar to any of the foregoing and beyond Landlord’s reasonable control (collectively, “Force Majeure”),
provided, however, that none of the foregoing shall excuse delays in the payment of money.

 

Section
41.7 Except as otherwise set forth herein, any obligations of Tenant and Landlord, as set forth herein (including, without
limitation, Tenant’s rental and other monetary obligations, repair obligations, and obligations to indemnify Landlord),
shall survive the expiration or earlier termination of this Lease.

 

Section
41.8 This Lease shall be governed by and construed in accordance with the laws of the State of New York.

 

Section
41.9 Neither this Lease nor any memorandum hereof shall be recorded without Landlord’s prior written consent.

 

Section
41.10 Landlord shall provide approximately [***] square feet of space to Tenant to be utilized solely for storage purposes.
Prior to placing its property in the storage space, Tenant shall provide Landlord with a written inventory of the items to be
stored. Tenant shall pay an annual fee of $[***], payable in monthly installments of $[***] on the first day of each month during
the first year of the term hereof, commencing on the Commencement Date. The annual fee increase by three (3%) percent on the first
day of each subsequent lease year during the term hereof. Landlord reserves the right to withdraw or relocate such storage space
at its sole discretion without any further responsibility to Tenant. Tenant shall provide Landlord with a written inventory of
the items to be stored in such storages space, and shall secure such storage space as its sole cost and expense.

 

    	38

     

    

 

IN
WITNESS WHEREOF, the parties have caused these presents to be duly executed as of the date and year first above written.

 

	 	LANDLORD:
    
	 	 	 
	 	BIOBAT,
    INC., a New York Not-for-Profit corporation
	 	 	 
	 	By:	/s/
    Eva Cramer
	 	 	President
	 	 	 
	 	TENANT:
	 	 
	 	IRX
    THERAPEUTICS, INC., a New York corporation
	 	 	  
	 	By:
     	/s/
    Jeffrey Hwang
	 	 	President
    & COO

 

    	39

     

    

 

Exhibit
A

 

DIAGRAM
OF PREMISES

[***]

 

    	40

     

    

 

Exhibit
B

 

LAND

 

[***]

 

    	41

     

    

 

EXHIBIT
B-1

 

LANDLORD’S
PREMISES

 

[***]

 

    	42

     

    

 

EXHIBIT
C

 

PERMITTED
USES

 

The
Corporation is formed and shall be operated exclusively for scientific, educational, and charitable purposes within the intent
and meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), or corresponding
provision of any subsequent federal tax laws.

 

Specifically,
the Corporation will

 

(i)
attract, encourage, develop, improve and assist industry and public and private institutions in New York State by providing facilities
and related support for the application of biotechnology, life sciences research or other appropriate technology development at
the Brooklyn Army Terminal to develop and improve such research and related manufacturing; and,

 

(ii)
attract, encourage, develop, improve and assist industry and public and private institutions in New York State by providing facilities
and related support for the application of biotechnology, life sciences research or other appropriate technology development at
the Brooklyn Army Terminal for appropriate technology transfer allowing for third party manufacture, sale and/or other distribution
of products and/or services and (iii) facilitate research and economic development activities related to the City of New York
and the research and educational mission of the State University of New York by managing, constructing, developing and operating
facilities which support the economic development, research activities, and the mission of the State University of New York, Downstate
Medical Center and the City of New York.

 

    	43

     

    

 

EXHIBIT
D

 

WORK LETTER

 

[***]

 

    	44

     

    

 

EXHIBIT
E

RULES
AND REGULATIONS

 

The
rules and regulations set forth in this Exhibit shall be and hereby are made a part of the Lease to which they are attached. Whenever
the term “Tenant” is used in these rules and regulations, it shall be deemed to include Tenant, its employees or agents
and any other persons permitted by Tenant to occupy or enter the Premises. The following rules and regulations may from time to
time be modified by Landlord in its discretion.

 

1.
Obstruction: The sidewalks, any entries, passages, corridors, halls, lobbies, stairways located outside the Premises, elevators
and other common facilities of the Landlord’s Premises shall be controlled by Landlord and shall not be obstructed by Tenant
or used for any purposes other than ingress or egress to and from the Premises. Tenant shall not place any item in any of such
locations, whether or not any such item constitutes an obstruction, without the prior written consent of Landlord. Landlord shall
have the right to remove any obstruction or any such item without notice to Tenant and at the expense of Tenant. The floors, skylights
and windows that reflect or admit light into any place in said Landlord’s Premises shall not be covered or obstructed by
Tenant.

 

2.
Deliveries: Tenant shall insure that all deliveries to the Premises (including, without limitation, deliveries of mail,
office supplies, beverages and soft drinks, catered meals and all other deliveries of bulk items) shall be made only upon the
elevator designated by Landlord for deliveries and only during the ordinary business hours of the Landlord’s Premises. If
any person making deliveries to Tenant damages the elevator or any other part of the Landlord’s Premises or Property, Tenant
shall pay to Landlord upon demand the amount required to repair such damage and restore the area to its previous condition.

 

3.
Moving: Furniture and equipment shall be moved in or out of the Landlord’s Premises only upon the elevator designated
by Landlord for furniture and equipment deliveries and then only during such hours and in such manner as may be prescribed by
Landlord. Landlord shall have the right to approve or disapprove the movers or moving company employed by Tenant and Tenant shall
cause such movers to use only the loading facilities and elevator designated by Landlord. If Tenant’s movers damage the
elevator or any other part of the Landlord’s Premises, Tenant shall pay to Landlord upon demand the amount required to repair
such damage and restore the area to its previous condition.

 

4.
Heavy Articles: No safe or article the weight of which may, in the reasonable opinion of Landlord, constitute a hazard
or may cause damage to the Landlord’s Premises or its equipment, shall be moved into the Premises. Safes and other heavy
equipment, the weight of which will not constitute a hazard or cause damage the Landlord’s Premises or its equipment shall
be moved into, from or about the Landlord’s Premises only during such hours and in such manner as shall be prescribed by
Landlord and Landlord shall have the right to designate the location of such articles in the Premises. The floor load for the
Premises is 100 pounds per square foot live load and shall not be exceeded by Tenant.

 

5.
Nuisance: Tenant shall not do or permit anything to be done in the Premises, or bring or keep anything therein which would
in any way constitute a nuisance or waste, or obstruct or interfere with the rights of other tenants of the Landlord’s Premises,
or in any way injure or annoy them, or conflict with the laws relating to fire, or with any regulations of the fire department
or with any insurance policy upon the Landlord’s Premises or any part thereof, or conflict with any of the rules or ordinances
of any governmental authority having jurisdiction over the Landlord’s Premises (including, by way of illustration and not
limitation, using the Premises for sleeping, lodging or cooking).

 

    	45

     

    

 

6.
Building Security: Landlord may restrict access to and from the Premises and the Landlord’s Premises outside of the
ordinary business hours of the Landlord’s Premises at any time for reasons of Building Security. Landlord may require identification
of persons entering and leaving the Landlord’s Premises during this period and, for this purpose, may issue building passes
to tenants of the Landlord’s Premises. Landlord shall not be liable to any person (including, without limitation, Tenant)
for excluding any person from the Landlord’s Premises or for admission of any person to the Landlord’s Premises at
any time, or for damage, loss or theft resulting therefrom.

 

7.
Locks and Keys for Premises: No additional lock or locks shall be placed by Tenant on any door in the Premises and no existing
lock shall be changed unless the written consent of Landlord shall first have been obtained, which consent shall not be unreasonably
withheld. A reasonable number of keys to the Premises and to the toilet rooms, if locked by Landlord, will be furnished by Landlord,
and Tenant shall not have any duplicate keys made. Landlord also shall furnish to Tenant a reasonable number of card keys/fobs
or building passes permitting access and egress to and from the Landlord’s Premises and elevators within the Landlord’s
Premises at a fee of Twenty & 00/100 ($20.00) Dollars per fob or key. The distribution and use of such card keys and passes
by Tenant and its employees shall be subject at all times to such additional rules as Landlord may promulgate from time to time.
At the termination of this Lease, Tenant shall promptly return to Landlord all keys, fobs, card keys and building passes to the
Landlord’s Premises, offices, toilet rooms, and parking facilities. Tenant shall promptly report to Landlord the loss or
theft of any key, card key or building pass.

 

8.
Signs: Signs on Tenant’s entrance door will be designed, furnished and installed by Tenant at Tenant’s expense,
subject to Landlord’s approval. No advertisement, sign or other notice shall be inscribed, painted or affixed on any part
of the outside or inside of the Landlord’s Premises, except upon Tenant’s interior doors as permitted by Landlord,
which advertisement, signs or other notices shall be of building standard order, size and style, and at such places as shall be
designated by Landlord. In addition, Landlord shall provide in the lobby of the Landlord’s Premises, at Landlord’s
expense, a building directory which shall include Tenant’s name.

 

9.
Use of Water Fixtures: Water closets and other water fixtures shall not be used for any purpose other than for which the
same are intended and no obstructing or improper substance shall be thrown, deposited or disposed of therein. Any damage resulting
to the same from misuse on the part of Tenant shall be paid for by Tenant. No person shall waste water by tying back or wedging
the faucets or in any other manner.

 

10.
No Animals, Excessive Noise: No birds, fish, or other animals (other than seeing eye dogs) shall be allowed in the offices,
halls, corridors and elevators in the Landlord’s Premises. No person shall disturb Tenants of this or adjoining buildings
or space by the use of any radio, musical instrument or singing, or by the making of loud or improper noises.

 

    	46

     

    

 

11.
Bicycles: Bicycles or other vehicles shall not be permitted anywhere inside or on the sidewalks outside the Landlord’s
Premises, except in those areas, if any, designated by Landlord as secure bicycle parking. No motorized vehicles of any kind shall
be brought into or kept in or about the Premises. Tenant and only its employees may bring bicycles into the Building only if they
comply with the New York City LL-52 Bicycle Access to Office Buildings Law and the Bicycle Access Rules and Regulations for the
Building.

 

12.
Trash: Tenant shall not allow anything to be placed on the outside of the Landlord’s Premises, nor shall anything
be thrown by Tenant out of the windows or doors, or down the corridors, elevator shafts, or ventilating ducts or shafts of the
Landlord’s Premises. All trash shall be placed in receptacles provided by Tenant on the Premises or in any receptacles provided
by Landlord for the Landlord’s Premises. Tenant will separate recyclable materials from other trash in accordance with Landlord’s
instructions.

 

13.
Hours for Repairs, Maintenance and Alterations: Any repairs, maintenance and alterations required or permitted to be done
by Tenant under the Lease shall be done only during the ordinary business hours of the Landlord’s Premises, unless Landlord
shall have first consented in writing to such work being done outside such times. If Tenant desires to have such work done by
Landlord’s employees on Saturdays, Sundays, holidays or weekends outside of ordinary business hours, Tenant shall pay the
extra cost of such labor.

 

14.
No Defacing of Premises: Except as permitted by Landlord and by this Lease, Tenant shall not mark up, cut, drill into,
drive nails or screws into, or in any .way deface the doors, walls, ceilings or floors of the Premises or of the Landlord’s
Premises, nor shall any connection be made to the electric wires or electric fixtures without the consent in writing on each occasion
of Landlord or its agents, and any defacement, damage or injury caused by Tenant shall be paid for Tenant.

 

15.
Limit on Equipment: Tenant shall not, without Landlord’s prior written consent, install or operate any computer,
duplicating or other large business machines or equipment, using more than 110 volts, 16 continuous load amps upon the Premises,
or carry on any mechanical business thereon. If Tenant requires any interior wiring such as for a business machine, intercom,
printing equipment or copying equipment, such wiring shall be done only by Landlord’s electrician for the Landlord’s
Premises and at Tenant’s expense. No electrical wiring shall be performed by any person unless previously approved in writing
by Landlord or its representative. If telegraphic or telephonic service is desired, the wiring for same shall be done as directed
by the electrician of the Landlord’s Premises, or by some other employee of Landlord who may be instructed by the superintendent
of the Landlord’s Premises to supervise same, and no boring or cutting for wiring shall be done unless approved by Landlord
or its representatives, as stated.

 

16.
Solicitation, Food and Beverages: Landlord reserves the right to restrict, control or prohibit canvassing, soliciting and
peddling within the Landlord’s Premises. Tenant shall not grant any concessions, licenses or permission for the sale or
taking of orders for food, alcoholic beverages, services or merchandise in the Premises, nor install or permit the installation
or use of any machine or equipment for dispensing goods or foods or beverages in the Landlord’s Premises, nor permit machine
or equipment for dispensing goods or food or beverages in the Landlord’s Premises, nor permit the preparation, serving,
distribution or delivery of food or beverages in the Premises without the approval of Landlord and in compliance with arrangements
prescribed by Landlord, except in connection with convenience lunch rooms or beverage service or catered functions for employees,
clients and guests of Tenant (on a noncommercial basis). Only persons approved in writing by Landlord shall be permitted to serve,
distribute, or deliver food and beverages within the Landlord’s Premises, or to the use the elevators or public areas of
the Landlord’s Premises for that purpose.

 

    	47

     

    

 

17.
Smoke Free Building: The Landlord’s Premises is a smoke free building and Tenant shall not permit any of its employees,
agents, contractors, subcontractors, invites, guests or visitors to smoke in the Landlord’s Premises or Premises.

 

18.
Sustainability: The building is or may become in the future certified under the LEED rating system, or other standard or
operated pursuant to Landlord’s sustainable building practices. Landlord’s sustainability practices address whole-building
operations and maintenance issues including chemical use; indoor air quality; energy efficiency; water efficiency; recycling programs;
exterior maintenance programs; and systems upgrades to meet green building energy, water, indoor air quality, and lighting performance
standards. All construction and maintenance methods and procedures, material purchases, and disposal of waste must be in compliance
with minimum standards and specifications, in addition to all Legal Requirements. Furthermore, Tenant acknowledges that it is
Landlord’s intention that the Property be operated in a manner which is consistent with Landlord’s sustainability
practices. Tenant is required to comply with these practices within its Premises.

 

BROOKLYN
ARMY TERMINAL RULES AND REGULATIONS

 

1.
All waste must be properly sealed and stored within Tenant’s respective unit(s) until the day of trash collection or until
the waste is deposited in one of the trash containers.

 

2.
All Building emergencies shall be reported immediately to Brooklyn Army Terminal’s management office or the security desk
in person during regular work hours or by calling [***].

 

3.
All loading bays may be used only for loading and off-loading merchandise; no parking is allowed. Landlord reserves the right
to tow vehicles and equipment that (a) are owned or leased by Tenant, (b) are present for the benefit of Tenant, (c) are present
at the Brooklyn Army Terminal by Tenant’s authorization, or (d) are otherwise contracted by Tenant or its agents, including,
but not limited to, officers, employees, customers, vendors, suppliers, delivery persons and/or invitees.

 

4.
Freight elevators are not to be held on any floor except while loading or off-loading merchandise; the only permitted method of
holding a freight elevator is by the use of the hold button.

 

5.
No materials, including, but not limited to, supplies, inventory, pallets, waste, debris and/or related items, shall be stored
or otherwise left in any Common Facilities or in any unoccupied unit of the Brooklyn Army Terminal without prior written permission
from Landlord in each occurrence. If Landlord should fmd said materials in any Common Facilities or unoccupied unit of the Brooklyn
Army Terminal and notify Tenant’s on-site resident manager, shift supervisor, or equivalent of same, then Tenant shall have
eight (8) hours within which to remove same; if said materials are not removed within said eight hours, then (i) Landlord shall
have the right to remove any such items at Tenant’s sole expense, including, but not limited to, moving costs, equipment
rental, labor charges and administrative costs, and (ii) Tenant shall be charged at least one hundred dollars ($100) per day for
storage of same (based on square footage required to store said materials), which charge shall be deemed Additional Rent and shall
be due and payable with the following month’s rent. Further, if Landlord gives Tenant written notice as set forth in the
Lease herein, then Landlord shall have the right of disposing, at Tenant’s sole expense, of any of said materials after
forty-eight (48) hours of said notice. Tenant shall indemnify and hold Landlord harmless from any liabilities and/or damages,
direct or consequential, that may arise in connection with Landlord’s removal, storage and/or disposal of any said materials.

 

    	48

     

    

 

6.
All employees must obtain and carry with them a Brooklyn Army Terminal picture identification card, subject to a nominal charge,
while on Brooklyn Army Terminal premises; employees must present their identification to security personnel when requested to
do so.

 

7.
Tenants shall keep access from Tenant’s Premises to all fire stairwells unobstructed, unimpeded and accessible at all times.

 

8.
All contractors must present to Building management a New York City Building Department Permit and a Certificate of Insurance,
satisfactory to Building management, before any construction work commences.

 

9.
Vehicles that have been issued a parking permit must be parked in the area designated by the permit.

 

10.
Vehicles are prohibited from standing or parking in the fire lanes at the entrances on the north and south sides of the Building;
these fire lanes must be kept unobstructed at all times for use only by emergency vehicles.

 

11.
Landlord shall have the right to prohibit any advertising by any tenant which, inLandlord’s opinion, tends to impair the
reputation of the Brooklyn Army Terminal, the Building or its desirability as a Building, and upon written notice from Landlord,
such tenant shall refrain from or discontinue such advertising.

 

12.
Tenant shall not bring or permit to be brought or kept in or on the Premises, any inflammable, combustible or explosive fluid,
material, chemical or substance, without Landlord’s prior written permission (with the exception of small quantities of
cleaning supplies and office supplies and with the exception of limited amounts necessary in the ordinary course of the operation
of the Tenant’s Permitted Use (pursuant to Article 3) at the demised premises (provided that all such exceptions are used,
handled, maintained, and stored in the demised premises, and disposed of, in accordance with this Lease including, without limitation,
Article 27 requiring compliance with all present and future laws, orders and regulations of all state, federal, municipal and
local governments, departments, commissions and boards and any direction of any public officer pursuant to law, and all orders,
rules and regulations of the New York Board of Fire Underwriters, or the Insurance Services Office, or any similar body) or cause
or permit any odors of cooking or other processes, or any unusual or other objectionable odors to permeate in or emanate from
the Premises.

 

    	49

     

    

 

13.
Tenant shall not use the Premises in a manner which disturbs or interferes with other tenants in the beneficial use of their premises.

 

14.
No machinery or mechanical equipment of any kind shall be so placed or operated as to disturb other tenants; and such machinery
and mechanical equipment used in a tenant’s premises shall be so equipped, installed and maintained by such tenant as to
prevent any disturbing noise, vibration or electrical or other interference from being transmitted from such premises to any other
area of the Building.

 

15.
No tenant shall install any window mounted air conditioners within the Premises or any other portion of the Building.

 

16.
No noise or other activity, including the playing of any musical instruments, radio, television or other sound reproduction system,
which would, in Landlord’s judgment, disturb other tenants in the Building, shall be made or permitted by any tenant, and
no cooking shall be done in any tenant’s premises, except as expressly approved in writing by Landlord.

 

17.
Any hazardous waste materials that may be located within any tenant’s premises shall be disposed of in accordance with all
applicable laws, ordinances and regulations of any public authorities governing the same.

 

18.
All entrance doors in each tenant’s premises shall be left locked by such tenant when such tenant’s premises are not
in use.

 

19.
The requirements of tenants will be attended to only upon application to the Building superintendent or Landlord’s managing
agent (or other person designated in writing by either of them) at his office in the Building or other location in the Brooklyn
Army Terminal. Building employees shall not be requested by any tenant, and will not be permitted, to perform any work or services
specially for any tenant, unless expressly authorized to do so by the Building superintendent or Landlord’s managing agent.

 

20.
If attendance of Landlord’s or the managing agent’s personnel and/or service contractors shall be required, as shall
be reasonably determined by Landlord or its managing agent in all instances, in connection with the use by any tenant of freight
elevators outside of ordinary business hours or in connection with the moving into or out of the Building by or for any tenant
of any machinery, equipment, safes, heavy objects, freight, furniture or other bulky matter, during or outside regular business
hours, the tenant so requiring such services shall pay Landlord, on demand, as Additional Rent, such amount as Landlord shall
determine to be appropriate as a charge for Landlord’s or its managing agent’s personnel and/or service contractors
used pursuant to this Rule 20.

 

21.
Landlord may refuse admission to the Brooklyn Army Terminal, including the Building, to any person not known to the watchman in
charge or not having a pass issued by Landlord or its agent or not properly identified, and may require all persons admitted to
or leaving the Building to register. Any person whose presence in the Brooklyn Army Terminal including the Building, at any time
shall, in the judgment of Landlord or its managing agent, be prejudicial to the safety, character, reputation and interests of
the Brooklyn Army Terminal or of its tenants may be denied access to the Brooklyn Army Terminal, including the Building, or may
be ejected therefrom. In case of invasion, riot, public excitement or other commotion, Landlord may prevent all access to the
Brooklyn Army Terminal during the continuance of the same, by closing the doors or otherwise, for the safety of the tenants and
protection of property in the Brooklyn Army Terminal. Landlord may require any person leaving the Building with any package or
other object to exhibit a pass from the tenant from whose premises the package or object is being removed, but the establishment
and enforcement of such requirement shall not impose any responsibility on Landlord for the protection of any tenant against the
removal of tenant’s property from such tenant’s premises. Landlord shall in no way be responsible or liable to any
tenant for damages or loss arising from the admission, exclusion or ejection of any person to or from the Tenant’s premises
or the Building under the provisions of this Rule. Each tenant shall be responsible for all persons for whom he requests admission
or a pass and shall be liable for all acts of such persons.

 

    	50

     

    

 

22.
Tenant shall not at any time store or keep any material, supplies, furniture, furnishings or equipment of any kind in any machine
room or in any mechanical or electrical equipment room in the Building, whether such room be within or outside the premises demised
to Tenant.

 

23.
Landlord may charge Tenant for directory board changes subsequent to initial listings. All requests for directory board listings
shall be in writing on Tenant’s letterhead signed by an authorized representative of Tenant.

 

24.
No food shall be eaten in the main lobby of the Building and alcoholic beverages are not permitted in the Building.

 

25.
Landlord reserves the right to rescind, alter, waive, expand or add any rule or regulation at any time prescribed for the Brooklyn
Army Terminal or the Building when, in Landlord’s judgment, it deems it necessary, desirable or proper for its best interest
and for the best interests of the other tenants in the Building, and no change or waiver of any rule or regulation in favor of
one tenant shall operate as a change or waiver in favor of any other tenant. Landlord shall not be responsible to any tenant for
the nonobservance or violation by any other tenant of any of the rules and regulations at any time prescribed for the Building.

 

    	51Exhibit
10.23(b)

 

CERTAIN
IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT BOTH (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY
HARMFUL IF PUBLICLY DISCLOSED.

 

TEXT
OMITTED FROM THIS EXHIBIT IS MARKED WITH [***]

 

FIRST
AMENDMENT TO LEASE AGREEMENT

 

THIS
FIRST AMENDMENT TO LEASE (this “Amendment”) is executed as of the 28th day of September, 2015, by
and between BIOBAT, INC., a New York Not-for-Profit corporation (“Landlord”), and IRX THERAPEUTICS, INC., a
New York corporation (“Tenant”).

 

WITNESSETH:

 

WHEREAS,
Landlord and Tenant entered into that certain Lease Agreement dated as of the date hereof (the “Lease”), whereby
Tenant leases from Landlord certain space in that certain building known as Building A of the Brooklyn Army Terminal, Brooklyn,
New York (the “Building”); and WHEREAS, Landlord and Tenant desire to amend certain provisions of the Lease;

 

NOW,
THEREFORE, in consideration of the foregoing premises, the mutual covenants herein contained and each act performed hereunder
by the parties, and for other good and valuable consideration, Landlord and Tenant hereby enter into this Amendment.

 

1.
Incorporation of Recitals. The above recitals are hereby incorporated into this Amendment as if fully set forth herein.

 

2.
Section 1.1. In Section 1.1 of the Lease, the number “[***]” is hereby deleted and replaced with the number “[***]”.

 

3.
Section 2.1. Section 2.1 of the Lease is hereby deleted in its entirety and replaced with the following:

 

“Section
2.1 The term of this Lease shall be for ten years and three months, commencing on January 1, 2016 (the “Commencement Date”),
and terminating at 11:59 PM on March 31, 2026 (the “Expiration Date”), unless terminated earlier pursuant to the terms
of this Lease. This Lease shall be effective and enforceable between Landlord and Tenant upon the Effective Date.”

 

4.
Section 3.1. The first sentence of Section 3.1 of the Lease is hereby deleted in its entirety and replaced with the following:
“During the term of this Lease, Tenant agrees to pay to Landlord [***] ($[*]) Dollars per annum, payable in equal monthly
installments of $[***] on or before the first day of each month (the “Base Rent”), which Base Rent shall increase
on each anniversary of the Commencement Date by an amount equal to the then-current Base Rent multiplied by [***] ([***]%) percent.”.

 

    	 

     

    

 

5.
Section 27.1. The first sentence of Section 27A of the Lease is hereby deleted in its entirety and replaced with the following:
“Tenant shall deposit with Landlord, on or before the Effective Date, a sum of [***] ($[***]) Dollars as security for the
faithful performance and observance by Tenant of the terms, provisions and conditions of the Lease.”.

 

6.
Exhibit A. The two pages immediately following the signature page of the Lease and immediately preceding Exhibit B to the Lease
are hereby deleted and replaced with Exhibit A attached hereto.

 

7.
Broker. Tenant hereby represents and warrants to Landlord that it has dealt with no broker in connection with this Amendment
other than Cresa New York (the “Broker”), and there are no other brokerage fees or commissions payable in connection
herewith. Tenant hereby agrees to hold Landlord harmless from, and indemnified against, all loss or damage (including without
limitation, the cost of defending the same) arising from any claim by any broker other than the Broker claiming to have dealt
with Tenant.

 

8.
Examination of Amendment. Submission of this instrument for examination or signature to Tenant does not constitute a reservation
or option, and it is not effective until execution by and delivery to both Landlord and Tenant.

 

9.
Definitions. Except as otherwise provided herein, the capitalized terms used in this Amendment shall have the definitions
set forth in the Lease.

 

10.
Reservation of Rights; No Waiver. By executing this Amendment, Landlord does not waive its right to assert (a) any events
or conditions that would constitute defaults under the Lease, or (b) any monetary or other obligations owed by Tenant to Landlord
under the Lease. Landlord expressly reserves and does not waive all rights under the Lease, at law, and in equity. Acceptance
by Landlord of any partial performance, including without limitation partial performance of any unpaid obligations under the Lease,
by Tenant is and will be without prejudice to the rights and remedies of Landlord under the Lease, at law and in equity.

 

11.
Incorporation. This Amendment shall be incorporated into and made a part of the Lease, and all provisions of the Lease
not expressly modified or amended hereby shall remain in full force and effect.

 

[SIGNATURES
APPEAR ON FOLLOWING PAGE]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Amendment to be executed on the day and year first above written.

 

	 	LANDLORD:
	 	 
	 	BIOBAT,
    INC., a New York Not-for-Profit corporation
	 	 	 
	 	By:	/s/
    Eva Cramer 
	 	Name:	Eva
    Cramer 
	 	Title:	President
    
	 	 	 
	 	TENANT:
	 	 
	 	IRX
    THERAPEUTICS, INC., a New York corporation
	 	 	 
	 	By:	/s/
    Jeffrey Hwang 
	 	Name:	Jeffrey
    Hwang 
	 	Title:	President
    & COO 

 

Signature
Page to First Amendment to Lease Agreement

 

    	 

     

    

 

Exhibit
A

 

[***]

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