Document:

rgnx-ex103_98.htm

EXHIBIT 10.3

 

ARE-MARYLAND NO. 24, LLC

c/o Alexandria Real Estate Equities, Inc.

385 E. Colorado Blvd., Suite 299

Pasadena, California  91101

 

 

 

April 12, 2019

 

 

 

REGENXBIO Inc.

Attention: General Counsel

9600 Blackwell Drive, Suite 210

Rockville, MD  20850

 

Re:9800 Medical Center Drive—Letter Agreement

 

To Whom It May Concern:

 

Reference is made to that certain Lease Agreement dated as of November 1, 2018 (“Lease”) between REGENXBIO Inc., a Delaware corporation, as tenant (“Tenant”), and ARE-Maryland No. 24, LLC, a Delaware limited liability company, as landlord (“Landlord”).  Initially capitalized terms not specifically defined in this letter agreement are intended to have the meanings set forth for such terms in the Lease.

 

Pursuant to Section 2.e of Exhibit C-1 to the Lease, Tenant has requested certain Material Changes to the Base Building Work.  The Material Changes, as more fully described or shown on Exhibit A attached hereto, consist of the following and are hereinafter collectively referred to in this letter agreement as the “February 2019 Material Changes”):

 

	
 
	
a.
	
Modifications to X bracing

	
 
	
b.
	
Relocate N Stairwell

	
 
	
c.
	
Reposition service elevator and add second dedicated service elevator 

	
 
	
d.
	
Increase 5th floor in height (not greater than 3’)

	
 
	
e.
	
Increase 5th floor load to 125 lbs/sf

	
 
	
f.
	
Future Penthouse / Roof Screening and Structure

 

For clarity, it is agreed and understood that the aforesaid second dedicated service elevator and Future Penthouse / Roof Screening and Structure shall be reserved for Tenant’s exclusive use.

 

Pursuant to Section 2.e of Exhibit C-1 to the Lease, Landlord hereby agrees to implement the February 2019 Material Changes.  This letter agreement is intended to supplement the applicable terms and conditions of the Lease as to the manner in which the February 2019 Material Changes shall be implemented, as follows:

 

	
	

 

 

RegenxBio Inc.

April 12, 2019

Page 2

 

 

1.Material Change Payment.  Within 30 days after the date of this letter agreement, Tenant shall pay to Landlord as Additional Rent an amount equal to $3,975,000 (“Material Change Payment”).  Tenant shall pay the Material Change Payment to Landlord by means of a wire transfer of immediately available federal funds to the Address for Rent Payment.  The Material Change Payment consists of the following elements:

 

	
 
	
1.1
	
An amount equal to $1,050,000 (“Estimated Delay Cost”), which is the product of $350,000 multiplied by 3 months, which is the estimated period of Tenant Delay that will result from the implementation of the February 2019 Material Changes.

 

	
 
	
1.2
	
An amount equal to $2,600,000 (“Estimated Construction Cost”), which is the estimated cost Landlord will incur to implement the February 2019 Material Changes.

 

	
 
	
1.3
	
An amount equal to $325,000 (“Management Fee”), which represents Landlord’s management fee for the implementation of the February 2019 Material Changes.

 

2.Reconciliation of Material Change Payment.  Within a reasonable period of time (not to exceed 60 days) after Substantial Completion of the Base Building Work, Landlord will determine (a) the actual Delay Cost (“Actual Delay Cost”) based on the actual period of Tenant Delay caused by the implementation of the February 2019 Material Changes (as certified by the Base Building Architect pursuant to Section 3.d of the Landlord Work Letter attached to the Lease as Exhibit C-1 (“Actual Tenant Delay”), and based on $350,000 per month, prorated on a daily basis based on the actual number of calendar days of Tenant Delay), and (b) the actual Construction Cost (“Actual Construction Cost”) incurred by Landlord to implement the February 2019 Material Changes.  Landlord shall communicate that determination to Tenant by means of a reconciliation statement (“Reconciliation Statement”).  The Reconciliation Statement shall state whether any adjustments need to be made to the Material Change Payment and, if so, the Reconciliation Statement shall be accompanied by reasonably detailed documentation in support of such determination.  If the Estimated Delay Cost or Estimated Construction Cost, or both, exceeded the Actual Delay Cost or the Actual Construction Cost, or both, Landlord shall pay the excess to Tenant within 30 days after the date of the Reconciliation Statement.  If the Estimated Delay Cost or the Estimated Construction Cost, or both, were less than the Actual Delay Cost or the Actual Construction Cost, or both, Tenant shall pay the deficiency to Landlord as Additional Rent within 30 days after the date of the Reconciliation Statement.  At Tenant’s request, Landlord shall make available to Tenant, on an open book basis, the documentation in support of the Reconciliation Statement.

 

3.Impact on Dates.  

 

a.Estimated and Actual Tenant Delay.  It is agreed by Landlord and Tenant that the estimated period of Tenant Delay that will result from the implementation of the February 2019 Material Changes is three (3) months (“Estimated Tenant Delay”).  Within a reasonable period of time (not to exceed 60 days) after Substantial Completion of the Base Building Work, Landlord shall cause the Base Building Architect to certify the Actual Tenant Delay.

 

 

	
	
22215181-v8

 

 

RegenxBio Inc.

April 12, 2019

Page 3

 

 

b.Amended Rider 1.  Rider 1 to Exhibit C-1 of the Lease is hereby amended by replacing that Rider with Rider 1 attached hereto as Rider 1.  In connection with the amendments to Rider 1 to Exhibit C-1 of the Lease, (i) the phrase in Section 2(1) of the Lease stating “April 30, 2019 (such 270 day period ends on Saturday, January 25, 2020)” is hereby deleted and replaced with the following phrase:  “July 31, 2019 (such 270 day period ends on Sunday, April 26, 2020)”, and (ii) the phrase in Section 2(2) of the Lease stating “March 31, 2020 (such 270 day period ends on Saturday, December 26, 2020)” is hereby deleted and replaced with the following phrase:  “June 30, 2020 (such 270 day period ends on Saturday, March 27, 2021)”.

 

c.Lease Commencement Date and Rent Commencement Dates.  Landlord and Tenant agree that (i) the period of Actual Tenant Delay shall not affect the Lease Commencement Date, (ii) the Lease Commencement Date shall not be extended for any period of Actual Tenant Delay, and (iii) the Lease Commencement Date shall be determined as if there were no period of Actual Tenant Delay.  To illustrate the operation of this provision, assume that June 30, 2020 is the projected Lease Commencement Date and that no Tenant Delay (other than the Actual Tenant Delay) or Force Majeure Delay has occurred.  Based on these assumptions and notwithstanding any period of Actual Tenant Delay, the Lease Commencement Date shall be deemed to occur on June 30, 2020 and the Rent Commencement Date and the 4th Floor Rent Commencement Date shall be determined based on the Lease Commencement Date occurring on June 30, 2020.  Except as provided in this paragraph, the Lease Commencement Date shall be subject to extension for Tenant Delay or Force Majeure Delay subject to the terms and conditions set forth in the Lease. 

 

d.Target Commencement Date.  In light of the Estimated Tenant Delay, (i) the references to “Target Commencement Date” in the first paragraph of Section 2 of the Lease (relating to a termination right in favor of Tenant) and in Section 2(2)(a) of the Lease (relating to the Per Diem Credit) shall initially mean October 1, 2020 (rather than July 1, 2020), and (ii) the date that is 270 days after the Target Commencement Date as referenced in such Lease provisions shall initially be measured from October 1, 2020 (rather than July 1, 2020), with all such dates to be finally adjusted based on the Actual Tenant Delay (and any other Tenant Delays).

 

4.Binding Effect; No Other Changes.  This letter agreement shall be binding upon Landlord, its successors and assigns, and Tenant, its successors and assigns as permitted under Section 22 of the Lease.  Except as supplemented by this letter agreement, the Lease is hereby ratified and confirmed and all other terms of the Lease shall remain in full force and effect, unaltered and unchanged by this letter agreement.  In the event of any conflict between the provisions of this letter agreement and the provisions of the Lease, the provisions of this letter agreement shall prevail.  Regardless of whether specifically supplemented by this letter agreement, all of the terms and provisions of the Lease are hereby amended to the extent necessary to give effect to the purpose and intent of this letter agreement.

 

5.Confidentiality.  The parties will keep the subject matter of this letter agreement confidential between them in accordance with the requirements and subject to the exceptions of Section 47(m) of the Lease.  Landlord acknowledges and agrees that Tenant shall have the right to disclose this letter agreement in connection with a request under Sections 23 (Estoppel Certificate) or 27 (Subordination) of the Lease and the delivery of any statement or instrument thereunder, or as otherwise permitted under Section 47(m) of the Lease.

 

	
	
22215181-v8

 

 

RegenxBio Inc.

April 12, 2019

Page 4

 

 

 

6.Counterparts/Electronic Signatures.  This letter agreement may be executed in 2 or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature process complying with the U.S. federal ESIGN Act of 2000) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.  Electronic signatures shall be deemed original signatures for purposes of this letter agreement and all matters related thereto, with such electronic signatures having the same legal effect as original signatures.

 

Please acknowledge your agreement to the terms of this letter agreement by countersigning below.

 

	
Sincerely,

	
 

	
ARE-MARYLAND NO. 24, LLC,

	
a Delaware limited liability company

	
 

	
By:
	
 
	
Alexandria Real Estate Equities, L.P.,

	
 
	
 
	
a Delaware limited partnership,

	
 
	
 
	
as its sole member

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
By:
	
 
	
ARE-QRS CORP.,

	
 
	
 
	
 
	
 
	
a Maryland corporation, general partner

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
By:
	
/s/ Gary Dean

	
 
	
 
	
 
	
 
	
Name:
	
Gary Dean

	
 
	
 
	
 
	
 
	
Title:
	
Senior Vice President

	
 
	
 
	
 
	
 
	
 
	
RE Legal

 

[SIGNATURE CONTINUED ON NEXT PAGE]

 

	
	
22215181-v8

 

 

RegenxBio Inc.

April 12, 2019

Page 5

 

 

ACKNOWLEDGED AND AGREED AS OF

THE DATE FIRST WRITTEN ABOVE:

 

REGENXBIO INC.,

a Delaware corporation

 

	
By:
	
/s/ Kenneth Mills

	
Print Name:
	
Kenneth Mills

	
Its:
	
President & CEO

 

 

	
	
22215181-v8

 

 

RegenxBio Inc.

April 12, 2019

Page 6

 

 

EXHIBIT A

MATERIAL CHANGES

 

The following list of MATERIAL CHANGES are the basis of this letter agreement.  

	
 
	
a.
	
Modifications to X bracing – proceed 

	
 
	
b.
	
Relocate N Stairwell – proceed 

	
 
	
c.
	
Reposition service elevator and add second dedicated service elevator – proceed

	
 
	
d.
	
Central stair security required between REGENXBIO floors and future tenant floors – proceed

	
 
	
e.
	
Increase 5th floor 3 feet in height – proceed

	
 
	
f.
	
Increase 5th floor load to 125 lbs/sf – proceed

	
 
	
g.
	
Future Penthouse – proceed

 

The list below of PDF documents (which documents have been prepared by Gaudreau, Inc.) are the supporting documents for these Material Changes:

 

    DATED   TITLE NOTES

	
 
	
•
	
1/14/2019 S-001 - General Notes, Abbreviations, and Symbols.pdf

	
 
	
•
	
2/19/2019 S-111 - Roof Framing Plan—Area A.pdf

	
 
	
•
	
2/19/2019 S-112 - Roof Framing Plan—Area B.pdf

	
 
	
•
	
2/19/2019 S-113 - Penthouse Roof and Mechanical Platform Framing Plan—Area A.pdf

	
 
	
•
	
2/19/2019 S-114 - Penthouse Roof and Mechanical Platform Framing Plan—Area B.pdf

	
 
	
•
	
3/26/2019 A-101 - OVERALL FLOOR PLANS - 1ST & 2ND  FLOORS.pdf

	
 
	
•
	
3/26/2019 A-102 - OVERALL FLOOR PLANS - 3RD & 4TH FLOORS.pdf

	
 
	
•
	
2/19/2019 A-103 - OVERALL FLOOR PLANS - 5TH FLOOR & ROOF.pdf

	
 
	
•
	
2/19/2019 A-301 - BUILDING SECTIONS.pdf

	
 
	
•
	
3/26/2019 A-401 - STAIR PLANS - STAIR 01.pdf 

	
 
	
•
	
3/26/2019 A-402 - STAIR SECTIONS - STAIR 01.pdf

	
 
	
•
	
3/26/2019 A-403 - STAIR PLANS - STAIR 02.pdf

	
 
	
•
	
3/26/2019 A-404 - STAIR SECTIONS - STAIR 02.pdf

	
 
	
•
	
3/26/2019 A-411 - LOADING AREA ENLARGED PLAN AND DETAILS.pdf

	
 
	
•
	
3/26/2019 A-421 - RESTROOM ENLARGED FLOOR PLAN - FIRST FLOOR.pdf

	
 
	
•
	
3/26/2019 A-422 - RESTROOM ENLARGED FLOOR PLAN - SECOND-FIFTH FLOORS.pdf

	
 
	
•
	
3/26/2019 A-423 - RESTROOM INTERIOR ELEVATIONS.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S101.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S102.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S103.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S104.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S105.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S106.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S107.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S108.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S109.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S110.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S601.pdf

	
 
	
•
	
3/26/2019 1713 - 9800 MCD Bldg F - S602.pdf

 

 

	
	
22215181-v8

 

 

RegenxBio Inc.

April 12, 2019

Page 7

 

 

RIDER 1

 

RIDER 1 TO EXHIBIT C-1

Base Building Construction Schedule

 

 

		
	
Milestone Event
	
Projected Date

	
Base Building Design Drawings sent to Tenant for comment

 
	
November 30, 2018

	
Deadline for completing Final Base Building Design Drawings

 
	
December 18, 2018

	
Deadline for completing Final Base Building Construction Drawings 

 
	
May 9, 2019

	
Base Building Permit issued
	
July 31, 2019

 

	
Landlord begins performance of Base Building Work
	
August 31, 2019

 

	
Completion of erection of structural steel for Base Building

 
	
April 30, 2020

	
Turnover Condition Date (i.e., date on which Building is watertight)

 
	
June 30, 2020

 

	
Substantial Completion of Base Building Work
	
September 30, 2020

 

 

 

	
	
22215181-v8rgnx-ex104_97.htm

EXHIBIT 10.4

 

FIRST AMENDMENT TO LEASE AGREEMENT

 

This FIRST AMENDMENT TO LEASE AGREEMENT (“this First Amendment”) is dated as of April 23, 2019 (“Effective Date”), by and between ARE-MARYLAND NO. 24, LLC, a Delaware limited liability company, having an address at 385 E. Colorado Boulevard, Suite 299, Pasadena, California  91101 (“Landlord”), and REGENXBIO INC., a Delaware corporation, having an address at Suite 210, 9600 Blackwell Road, Rockville, Maryland  20850 (“Tenant”).

 

RECITALS

 

A.Landlord and Tenant have entered into that certain Lease Agreement dated as of November 1, 2018, as amended (collectively, the “Lease”), wherein Landlord leased to Tenant certain premises containing approximately 132,487 rentable square feet (“Original Premises”) located at Suite 100, Building F, 9800 Medical Center Drive, Rockville, Maryland  20850, as more particularly described in the Lease.

 

B.Landlord and Tenant desire to amend the Lease, among other things, to (i) expand the Original Premises by approximately 5,975 rentable square feet on the first floor of the Building as identified as the “REGENXBIO EXPANSION” on the page of Exhibit A attached hereto labeled “1ST FLOOR BOMA PLAN” (“Expansion Premises”), (ii) adjust certain definitions contained in the Basic Lease Provisions to reflect the addition of the Expansion Premises, (iii) modify the amount of the TI Allowance based on certain re-measurements and the addition of the Expansion Premises, and (iv) eliminate the On Site Food Service Area, all on the terms and conditions set forth in this First Amendment.

 

AGREEMENT

 

Now, therefore, the parties hereto agree that the Lease is amended as follows:

 

1.Definitions; Recitals.  Terms used in this First Amendment but not otherwise defined shall have the meanings set forth in the Lease.  The Recitals form an integral part of this First Amendment and are hereby incorporated by reference.

 

2.Expansion of Premises.  Effective as of the Effective Date, (i) the Original Premises shall be expanded to include the Expansion Premises, (ii) Exhibit A to this First Amendment, which depicts the Expansion Premises, the balance of the Premises, and Landlord’s management office on the first (1st) floor of the Building (identified as “ARE” on the page of Exhibit A attached hereto labeled “1ST FLOOR BOMA PLAN”), hereby replaces Exhibit A to the Lease, and (iii) the following amendments are hereby made to the definitions contained in the Basic Lease Provisions:

 

2.1The section of the Basic Lease Provisions of the Lease entitled, “Premises”, is hereby amended by (i) deleting the first (1st) paragraph thereof in its entirety and replacing it with the following:

 

 

		
	

	
Copyright © 2012.  Alexandria Real Estate Equities, Inc.  ALL RIGHTS RESERVED.  Confidential and Proprietary.  Do Not Copy or Distribute.  Alexandria and Alexandria Logo are registered trademarks of Alexandria Real Estate Equities, Inc.

46154413-v4

 

	
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That portion of the Project, containing approximately 139,281 rentable square feet, as determined by Landlord, as shown as the hatched area on Exhibit A.  The Premises consist of the following, all of which are depicted on Exhibit A:  (i) approximately 12,712 rentable square feet located on the first floor of the Building (“1st Floor Premises”), (ii) approximately 40,198 rentable square feet located on the third floor of the Building (“3rd Floor Premises”), (iii) approximately 40,198 rentable square feet located on the 4th floor of the Building (“4th Floor Premises”), (iv) approximately 40,198 rentable square feet located on the 5th floor of the Building (“5th Floor Premises”), and (v) approximately 5,975 rentable square feet located on the first floor of the Building (“Expansion Premises”).  The 1st Floor Premises, the 3rd Floor Premises, the 5th Floor Premises, and the Expansion Premises are collectively referred to as the “Initial Premises,” and the Initial Premises and 4th Floor Premises are collectively referred to as the “Premises.”

 

and by (ii) replacing the word “2%” wherever it appears in the second (2nd) paragraph thereof, with the word “1.5%”.

 

2.2The section of the Basic Lease Provisions of the Lease entitled, “Base Rent”, shall be deleted in its entirety and replaced with the following:

 

	
 
	
Base Rent:
	
Initially, $435,253.13 per month (i.e., $37.50 per rentable square foot per annum) for the Premises, subject to adjustment upon confirmation of the rentable area of the Premises as provided above.

 

2.3The section of the Basic Lease Provisions of the Lease entitled, “Rentable Area of Premises”, shall be deleted in its entirety and replaced with the following:

 

Rentable Area of Premises:  139,281 rentable square feet, subject to adjustment upon confirmation of the rentable area of the Premises as provided above.

 

2.4The section of the Basic Lease Provisions of the Lease entitled, “Rentable Area of Project”, shall be deleted in its entirety and replaced with the following:

 

Rentable Area of Project:  459,269 rentable square feet, subject to adjustment upon confirmation of the rentable area of the Building as provided above.  As of the Commencement Date, set forth below is the rentable area of the buildings located in the Project (excluding Building E, the Parking Garage):

 

			
	
Building A:
	
 
	
43,380 rentable square feet

	
Building B:
	
 
	
58,326 rentable square feet

	
Building C:
	
 
	
124,351 rentable square feet

	
Building D:
	
 
	
56,379 rentable square feet

	
Building F:
	
 
	
176,833 rentable square feet

	
Total:
	
 
	
459,269 rentable square feet

 

		
	

	
Copyright © 2012.  Alexandria Real Estate Equities, Inc.  ALL RIGHTS RESERVED.  Confidential and Proprietary.  Do Not Copy or Distribute.  Alexandria and Alexandria Logo are registered trademarks of Alexandria Real Estate Equities, Inc.

46154413-v4

 

	
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Landlord covenants and agrees that Landlord shall not re-measure the rentable area of the Project during the Term except to reflect actual changes in the physical size of the Project, and then only in accordance with the measurement standards that have been used historically to measure such rentable area of the Project.  Tenant’s Project Share and Building’s Share of Project shall be promptly re-adjusted based on any changes in the Rentable Area of Project after the Commencement Date.

 

2.5The section of the Basic Lease Provisions of the Lease entitled, “Tenant’s Share”, shall be deleted in its entirety and replaced with the following:

 

Tenant’s Share:  78.76%, subject to adjustment upon confirmation of the rentable areas of the Building and the Premises as provided above.

2.6The section of the Basic Lease Provisions of the Lease entitled, “Tenant’s Project Share”, shall be deleted in its entirety and replaced with the following:

 

Tenant’s Project Share:  30.33%, subject to adjustment upon confirmation of the rentable areas of the Building and the Premises as provided above.

2.7The section of the Basic Lease Provisions of the Lease entitled, “Rentable Area of Building”, shall be deleted in its entirety and replaced with the following:

 

Rentable Area of Building:  176,833 rentable square feet, subject to adjustment upon confirmation of the rentable area of the Building as provided above.

2.8The section of the Basic Lease Provisions of the Lease entitled, “Building’s Share of Project”, shall be deleted in its entirety and replaced with the following:

 

Building’s Share of Project:  38.50%, subject to adjustment upon confirmation of the rentable area of the Building as provided above.

3.Adjustment to TI Allowance.  Exhibit C-2 of the Lease is hereby amended by deleting Section 5(b) thereof in its entirety and replacing it with the following:

 

(b)TI Allowance.  Landlord shall provide to Tenant a tenant improvement allowance (“TI Allowance”) of $110 per rentable square foot of the Premises, or $15,320,910 in the aggregate (based on the Premises containing 139,281 rentable square feet and subject to adjustment upon remeasurement of the Premises as provided in the Lease).  The TI Allowance shall be disbursed in accordance with this Work Letter.  Tenant shall have no right to any portion of the TI Allowance that is not requested before the last day of the month that is 24 months after the Lease Commencement Date.

 

		
	

	
Copyright © 2012.  Alexandria Real Estate Equities, Inc.  ALL RIGHTS RESERVED.  Confidential and Proprietary.  Do Not Copy or Distribute.  Alexandria and Alexandria Logo are registered trademarks of Alexandria Real Estate Equities, Inc.

46154413-v4

 

	
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4.Elimination of On Site Food Service.  Landlord and Tenant have agreed to eliminate the need for the On Site Food Service and the On Site Food Service Area.  Accordingly, effective as of the Effective Date, the following changes are hereby made to the Lease for the purpose of deleting references to the On Site Food Service and the On Site Food Service Area:

 

4.1Section 2(f) of the Lease is hereby deleted in its entirety and replaced with the following:  “Intentionally Deleted.”

 

4.2The second paragraph of Section 5 of the Lease is hereby amended by deleting the language beginning on line 14 (i.e., “Rent, the cost to repair. . . .”) to the end of that paragraph and replacing it with the following:

 

Rent, and the cost to repair or replace exterior glass, caulking, or brick, the cost of any tuck pointing, excluding only:

 

4.3Section 39(a) of the Lease is hereby amended by deleting the penultimate sentence and replacing it with the following sentence:

 

In no event shall the Available Space include any space on the first floor for Landlord’s management office.

 

4.4Section 40(a) of the Lease is hereby amended by deleting the third sentence and replacing it with the following sentence:

 

In no event shall the Expansion Space include any space on the first floor for Landlord’s management office.

 

4.5Section 41 of the Lease is hereby amended by deleting the second sentence and replacing it with the following sentence:

 

The provisions of this Section shall not apply, however, to any space on the first floor for Landlord’s management office.

 

5.Miscellaneous.

 

5.1Entire Agreement.  The Lease, as amended by this First Amendment, is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreements and discussions.  The Lease, as so amended by this First Amendment, may be amended only by an agreement in writing, signed by the parties hereto.

 

5.2Binding Effect.  This First Amendment is binding upon and shall inure to the benefit of the parties hereto, their respective agents, employees, members, representatives, officers, directors, divisions, subsidiaries, affiliates, assigns, heirs, successors in interest and shareholders.

 

		
	

	
Copyright © 2012.  Alexandria Real Estate Equities, Inc.  ALL RIGHTS RESERVED.  Confidential and Proprietary.  Do Not Copy or Distribute.  Alexandria and Alexandria Logo are registered trademarks of Alexandria Real Estate Equities, Inc.

46154413-v4

 

	
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5.3Broker.  Landlord and Tenant each represents and warrants that it has not dealt with any broker, agent or other person (collectively, “Broker”) in connection with this First Amendment and that no Broker brought about this transaction, other than Tenant’s broker, Cresa Global Inc. d/b/a Cresa (“Cresa”).  Cresa shall be paid by Landlord pursuant to a separate agreement between Landlord and Cresa.  Landlord and Tenant each hereby agree to indemnify, defend, and hold the other harmless from and against any claims by any Broker, other than Cresa, claiming a commission or other form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this First Amendment.

 

5.4Counterparts.  This First Amendment may be executed in 2 or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature process complying with the U.S. federal ESIGN Act of 2000) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.  Electronic signatures shall be deemed original signatures for purposes of this First Amendment and all matters related thereto, with such electronic signatures having the same legal effect as original signatures.

 

5.5Ratification; Conflicts.  Except as amended and/or modified by this First Amendment, the Lease is hereby ratified and confirmed and all other terms of the Lease shall remain in full force and effect, unaltered and unchanged by this First Amendment.  In the event of any conflict between the provisions of this First Amendment and the provisions of the Lease, the provisions of this First Amendment shall prevail.  Regardless of whether specifically amended by this First Amendment, all of the terms and provisions of the Lease are hereby amended to the extent necessary to give effect to the purpose and intent of this First Amendment.

 

[SIGNATURES APPEAR ON NEXT PAGE]

 

		
	

	
Copyright © 2012.  Alexandria Real Estate Equities, Inc.  ALL RIGHTS RESERVED.  Confidential and Proprietary.  Do Not Copy or Distribute.  Alexandria and Alexandria Logo are registered trademarks of Alexandria Real Estate Equities, Inc.

46154413-v4

 

	
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IN WITNESS WHEREOF, the parties hereto have executed this First Amendment under seal as of the day and year first above written.

 

	
TENANT:

	
 

	
REGENXBIO INC.,

	
a Delaware corporation

	
 

	
By:
	
 
	
/s/ Kenneth Mills
	
(SEAL)

	
Name:
	
 
	
Kenneth Mills
	
 

	
Title:
	
 
	
President & CEO
	
 

	
 
	
 
	
 
	
 

 

	
LANDLORD:

	
 

	
ARE-MARYLAND NO. 24, LLC,

	
a Delaware limited liability company

	
 
	
 
	
 

	
By:
	
 
	
ALEXANDRIA REAL ESTATE EQUITIES, L.P.,

	
 
	
 
	
a Delaware limited partnership, 

	
 
	
 
	
managing member

 

	
By:
	
 
	
ARE-QRS CORP.,

	
 
	
 
	
a Maryland corporation, 

	
 
	
 
	
general partner

 

	
By:
	
 
	
/s/ Jackie Clem
	
(SEAL)

	
Name:
	
 
	
Jackie Clem
	
 

	
Title:
	
 
	
Senior Vice President
	
 

	
 
	
 
	
RE Legal Affairs
	
 

 

		
	

	
Copyright © 2012.  Alexandria Real Estate Equities, Inc.  ALL RIGHTS RESERVED.  Confidential and Proprietary.  Do Not Copy or Distribute.  Alexandria and Alexandria Logo are registered trademarks of Alexandria Real Estate Equities, Inc.

46154413-v4

 

	
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EXHIBIT A

DESCRIPTION OF PREMISES

 

 

 

		
	

	
Copyright © 2012.  Alexandria Real Estate Equities, Inc.  ALL RIGHTS RESERVED.  Confidential and Proprietary.  Do Not Copy or Distribute.  Alexandria and Alexandria Logo are registered trademarks of Alexandria Real Estate Equities, Inc.

46154413-v4

 

	
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EXHIBIT A

DESCRIPTION OF PREMISES—continued 

 

 

 

		
	

	
Copyright © 2012.  Alexandria Real Estate Equities, Inc.  ALL RIGHTS RESERVED.  Confidential and Proprietary.  Do Not Copy or Distribute.  Alexandria and Alexandria Logo are registered trademarks of Alexandria Real Estate Equities, Inc.

46154413-v4

 

	
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EXHIBIT A

DESCRIPTION OF PREMISES—continued 

 

 

 

		
	

	
Copyright © 2012.  Alexandria Real Estate Equities, Inc.  ALL RIGHTS RESERVED.  Confidential and Proprietary.  Do Not Copy or Distribute.  Alexandria and Alexandria Logo are registered trademarks of Alexandria Real Estate Equities, Inc.

46154413-v4

 

	
First Amendment to Lease Agreement –-RegenXBio Inc.
	
 
	
Page - 10

 

EXHIBIT A

DESCRIPTION OF PREMISES—continued 

 

 

 

		
	

	
Copyright © 2012.  Alexandria Real Estate Equities, Inc.  ALL RIGHTS RESERVED.  Confidential and Proprietary.  Do Not Copy or Distribute.  Alexandria and Alexandria Logo are registered trademarks of Alexandria Real Estate Equities, Inc.

46154413-v4

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