Document:

Exhibit 10.46

[Form - Performance-Based RSU Agreement][2015]    

OM GROUP, INC.
PERFORMANCE-BASED RESTRICTED STOCK UNITS AGREEMENT
THIS PERFORMANCE-BASED RESTRICTED STOCK UNITS AGREEMENT (the “Agreement”), dated as of __________ ___, 201__, is by and between OM GROUP, INC. (the “Company”) and __________ (the “Participant”).  All terms used in this Agreement with initial capital letters and not otherwise defined in this Agreement that are defined in the Company’s 2014 Equity and Incentive Compensation Plan (the “Plan”) shall have the meanings assigned to them in the Plan. 
WHEREAS, the Company maintains the Plan for the purpose of attracting and retaining non-employee Directors, officers and other key executives and employee of the Company and its Subsidiaries and to provide to such persons incentives and rewards for performance;
WHEREAS, pursuant to the Plan, and subject to the terms and conditions thereof and the terms and conditions hereinafter set forth, this Agreement evidences and memorializes the Company’s grant to the Participant, effective as of __________ ___, 201__ (the “Date of Grant”) of __________ performance-based Restricted Stock Units (the “PRSUs”).  Subject to the achievement of the Management Objectives described in Section 3 of this Agreement, the Participant may earn between 0% and ___% of the PRSUs.
NOW, THEREFORE, the Company and the Participant agree as follows:
1.Earning of PRSUs.  If the PRSUs under this Agreement become nonforfeitable and payable (“Vest” or similar terms) in accordance with Section 3 of this Agreement, the Participant will be entitled to settlement of the Vested PRSUs as specified in Section 4 of this Agreement.
2.    Transferability of PRSUs.  Subject to Section 15 of the Plan, the rights of the Participant under this Agreement, the PRSUs (prior to settlement) and any interest therein or in any Common Stock underlying such PRSUs shall not be transferable other than by will or by the laws of descent and distribution.  Upon any attempt to transfer, assign, pledge, hypothecate, or otherwise dispose of the PRSUs or any related rights to the PRSUs that is contrary to the provisions of this Agreement or the Plan, or upon the levy of any attachment or similar process upon the PRSUs or such rights, the PRSUs and such rights shall immediately become null and void.
		
	3.
	Vesting of PRSUs.

3.1    Normal Vesting.  Subject to Sections 3.2 through 3.5 of this Agreement, the PRSUs will Vest (and become entitled to settlement as specified in Section 4 of this Agreement) based on the relative achievement of the Management Objective(s) approved by the Committee on the Date of Grant (the “Performance Targets”) for the performance period from January 1, 20___ through December 31, 20___ (the “Performance Period”) as follows:
(a)    The applicable percentage of the PRSUs that shall be earned by the Participant for the Performance Period shall be determined by reference to the Performance Matrix for the Performance Period approved by the Committee on the Date of Grant and communicated to the Participant in writing (the “Performance Matrix”) if the Participant remains continuously employed by either the Company or any Subsidiary until the end of the Performance Period.  For purposes of this Agreement, the continuous employment of the Participant with the Company or any Subsidiary will not be deemed to have been interrupted, and the Participant shall not be deemed to have ceased to be an employee of the Company or any Subsidiary, by reason of the transfer of the Participant’s employment among the Company and its Subsidiaries;
(b)    In the event that achievement with respect to one of the Performance Targets is between the performance levels specified in the Performance Matrix, the applicable percentage of the PRSUs that shall be earned by the Participant for the Performance Period for that particular Performance Target shall be determined by the Committee using straight-line mathematical interpolation; and
(c)    To the extent the Performance Targets are not achieved by the end of the Performance Period, then the PRSUs evidenced by this Agreement will be forfeited without compensation or other consideration.  The Vesting of the PRSUs pursuant to this Section 3.1 shall be contingent upon a determination of the Committee that the Performance Metrics have been satisfied.
3.2    Pro-Rata Vesting Due to Death or Becoming Disabled.  If, prior to the end of the Performance Period, the Participant dies or becomes Disabled while in the employ of the Company or any Subsidiary, then, to the extent that the PRSUs have not previously been forfeited, a pro-rata number of the PRSUs shall remain eligible for Vesting after the end of the Performance Period (and become entitled to settlement as specified in Section 4 of this Agreement), with such pro-rata number of PRSUs being determined by multiplying (a) the number of PRSUs in which the Participant would have Vested in accordance with the terms and conditions of Section 3.1 if the Participant had remained in the continuous employment of the Company or any Subsidiary from the Date of Grant until the end of the Performance Period (or the occurrence of a Change in Control to the extent a Replacement Award is not provided) by (b) a fraction (i) the numerator of which is the total number of calendar days in the period commencing with the start of the Performance Period and ending on the date of such death or the date on which the Participant became Disabled and (ii) the denominator of which is the number of days in the Performance Period, with any fractional share rounded down to the nearest whole number.  The balance of the PRSUs evidenced by this Agreement and not subject to pro-rata eligibility for Vesting under this Section 3.2 shall be immediately forfeited without compensation or other consideration.  For purposes of this Agreement, the Participant shall be considered to have become “Disabled” if the Participant has qualified for a long-term disability benefit under a disability plan or program of the Company or, in the absence of a disability plan or program of the Company, under a government-sponsored disability program, and is “disabled” within the meaning of Section 409A(a)(2)(C) of the Code.
3.3    Pro-Rata Vesting Due to Retirement.  If the Participant ceases to be employed by the Company or any Subsidiary prior to the end of the Performance Period due to the Participant’s retirement in accordance with any retirement plan or policy of the Company or any Subsidiary (“Retirement”), then, to the extent that the PRSUs have not previously been forfeited, a pro-rata number of the PRSUs shall remain eligible for Vesting after the end of the Performance Period (and become entitled to settlement as specified in Section 4 of this Agreement), with such pro-rata number of PRSUs being determined by multiplying (a) the number of PRSUs in which the Participant would have Vested in accordance with the terms and conditions of Section 3.1 if the Participant had remained in the continuous employment of the Company or any Subsidiary from the Date of Grant until the end of the Performance Period (or the occurrence of a Change in Control to the extent a Replacement Award is not provided) by (b) a fraction (i) the numerator of which is the total number of calendar days in the period commencing with the start of the Performance Period and ending on the date of such Retirement and (ii) the denominator of which is the number of days in the Performance Period, with any fractional share rounded down to the nearest whole number.  The balance of the PRSUs evidenced by this Agreement and not subject to pro-rata eligibility for Vesting under this Section 3.3 shall be immediately forfeited without compensation or other consideration. 
3.4    Accelerated Vesting in Connection with a Change in Control.  
(a)    Upon a Change in Control occurring after the Date of Grant but prior to the end of the Performance Period, if the Participant has been continuously employed by either the Company or any Subsidiary between the Date of Grant and the date of such Change in Control, to the extent that the PRSUs have not previously been forfeited, the PRSUs shall Vest in full at the target level (and become entitled to settlement as specified in Section 4 of this Agreement), except to the extent that a Replacement Award is provided to the Participant to replace, continue or adjust the outstanding PRSUs (the “Replaced Award”).  If the Participant is provided with a Replacement Award in connection with the Change in Control, then if, upon or after receiving the Replacement Award, the Participant’s employment with the Company or any Subsidiary (or any of their successors after the Change in Control) (as applicable, the “Successor”) is terminated by the Participant for Good Reason or by the Successor other than for Cause (excluding, for the avoidance of doubt, termination due to the Participant's death, Disability, retirement or voluntary resignation), in each case within a period of two years after the Change in Control but prior to the end of the Performance Period, to the extent that the Replacement Award has not previously been forfeited, (i) the Replacement Award will Vest in full at the target level (and become entitled to settlement as specified in Section 4 of this Agreement).
(b)    For purposes of this Agreement, a “Replacement Award” means an award (i) of the same type (i.e., performance-based restricted stock units) as the Replaced Award, (ii) that has a value at least equal to the value of the Replaced Award, (iii) that relates to publicly traded equity securities of the Successor in the Change in Control (or another entity that is affiliated with the Successor following the Change in Control), (iv) the tax consequences of which for such Participant under the Code, if the Participant is subject to U.S. federal income tax under the Code, are not less favorable to the Participant than the tax consequences of the Replaced Award, and (v) the other terms and conditions of which are not less favorable to the Participant than the terms and conditions of the Replaced Award (including the provisions that would apply in the event of a subsequent change in control).  A Replacement Award may be granted only to the extent it does not result in the Replaced Award or Replacement Award failing to comply with or ceasing to be exempt from Section 409A of the Code, if applicable.  Without limiting the generality of the foregoing, the Replacement Award may take the form of a continuation of the Replaced Award if the requirements of the preceding two sentences are satisfied.  The determination of whether the conditions of this Section 3.4(b) are satisfied will be made in good faith by the Committee, as constituted immediately before the Change in Control, in its sole discretion.
(c)    For purposes of this Agreement, “Cause” has the meaning set forth in the Participant’s employment, change in control, or severance agreement, as applicable (in that order), or otherwise means: (i) the Participant’s gross negligence or serious misconduct (including, without limitation, any criminal, fraudulent or dishonest conduct) that is or may be injurious to the Successor; or (ii) the Participant being convicted of, or entering a plea of nolo contendere to, any crime that constitutes a felony or involves moral turpitude; or (iii) the Participant’s breach of a written agreement between the Participant and the Successor; or (iv) the Participant’s willful and continued failure to perform the Participant’s duties on behalf of the Successor; or (v) the Participant’s material breach of a written policy of the Successor.
(d)    For purposes of this Agreement, “Good Reason” means: (i) a material change in the geographic location at which the Participant must perform the Participant’s services (which shall in no event include a relocation of the Participant’s current principal place of business to a location less than 50 miles away) from the geographic location immediately prior to the Change of Control; (ii) a material diminution in the Participant’s base compensation from the level immediately prior to the Change of Control; or (iii) a material diminution in the Participant’s authority, duties, or responsibilities from the level immediately prior to the Change of Control; provided, however, that no termination shall be deemed to be for Good Reason unless (x) the Participant provides the Successor with written notice setting forth the specific facts or circumstances constituting Good Reason within ninety (90) days after the initial existence of the occurrence of such facts or circumstances, (y) the Successor has failed to cure such facts or circumstances within thirty (30) days of its receipt of such written notice, and (z) the effective date of the termination for Good Reason occurs no later than one hundred fifty (150) days after the initial existence of the facts or circumstances constituting Good Reason.
(e)    If a Replacement Award is provided, notwithstanding anything in this Agreement or the Plan to the contrary, any outstanding PRSUs that at the time of the Change in Control are not subject to a “substantial risk of forfeiture” (within the meaning of Section 409A of the Code) will be deemed to be Vested at the time of such Change in Control and will be settled as provided for in Section 4 of this Agreement.
3.5    Forfeiture Upon Other Terminations of Employment.  Any PRSUs that have not Vested pursuant to Section 3 of this Agreement on or prior to the end of the Performance Period will be forfeited automatically and without further notice on such date without compensation or any other consideration (or earlier if, and on such date that, the Participant ceases to be an employee of the Company or any Subsidiary prior to the end of the Performance Period for any reason other than as described in Sections 3.2 through 3.4 of this Agreement).  For purposes of this Section 3, the Participant shall have ceased to be employed by the Company or any Subsidiary when the Participant no longer has the right or obligation to perform services in such capacity, notwithstanding the continuation of any employment agreement for any other purpose or the continuation of compensation or benefits under any such employment agreement or otherwise.
		
	4.
	Form and Time of Settlement of PRSUs.

4.1    General.  Subject to Sections 3.5 and 4.2 of this Agreement, settlement of the RSUs that have become Vested in accordance with Section 3 of this Agreement shall be made in the form of shares of Common Stock, such that one share of Common Stock shall be issued for each Vested PRSU between January 1 and March 15 of the calendar year immediately following the calendar year in which the Performance Period ends.
4.2    Change in Control.  Notwithstanding Section 4.1 of this Agreement, to the extent that the PRSUs are Vested on a Change in Control, upon a Change in Control, the Participant is entitled to receive payment for Vested PRSUs in the form of shares of Common Stock, such that one share of Common Stock shall be issued for each Vested PRSU on the date of the Change in Control; provided, however, that if such Change in Control would not qualify as a permissible date of distribution under Section 409A(a)(2)(A) of the Code, and the regulations thereunder, and where Section 409A of the Code applies to such distribution, the Participant is entitled to receive the corresponding payment on the date that would have otherwise applied pursuant to Sections 4.1 of this Agreement as though such Change in Control had not occurred.  
5.    Payment of Dividend Equivalents.  From and after the Date of Grant and until the earlier of (a) the time when the PRSUs become Vested and are settled in accordance with Sections 3 and 4 of this Agreement or (b) the time when the Participant’s right to receive payment in settlement of the PRSUs is forfeited in accordance with Section 3 of this Agreement, on the date that the Company pays a cash dividend (if any) to holders of Common Stock generally, the Participant shall be entitled to a number of additional PRSUs determined by dividing (x) the product of (i) the dollar amount of the cash dividend paid per share of Common Stock on such date and (ii) the Participant’s maximum number of PRSUs (including dividend equivalents credited thereon) as of such date, by (y) the Market Value per Share of the Common Stock on such date.  Such dividend equivalents (if any) shall be subject to the same terms and conditions and shall be paid, in the aggregate rounded down to the nearest whole number, or forfeited in the same manner and at the same time as the PRSUs to which the dividend equivalents were credited.
6.    Tax Withholding.  Subject to Section 16 of the Plan, to the extent that the Company is required to withhold federal, state, local or foreign taxes in connection with any payment made or benefit realized by the Participant or other person under the PRSUs, and the amounts available to the Company for such withholding are insufficient, it will be a condition to the receipt of such payment or the realization of such benefit that the Participant or such other person make arrangements satisfactory to the Company for payment of the balance of such taxes required to be withheld, which arrangements (in the discretion of the Committee) may include relinquishment of a portion of such benefit.
7.    Adjustments.  The Committee shall make or provide for such adjustments in the number of shares of Common Stock covered by the PRSUs and in the kind of shares covered by the PRSUs as the Committee, in its sole discretion, exercised in good faith, may determine is equitably required to prevent dilution or enlargement of the rights of the Participant that otherwise would result from (a) any stock dividend, stock split, combination of shares, recapitalization or other change in the capital structure of the Company, (b) any merger, consolidation, spin-off, split-off, spin-out, split-up, reorganization, partial or complete liquidation or other distribution of assets, issuance of rights or warrants to purchase securities, or (c) any other corporate transaction or event having an effect similar to any of the foregoing.  Moreover, in the event of any such transaction or event or in the event of a Change in Control, the Committee, in its discretion, shall provide in substitution for the PRSUs such alternative consideration (including cash), if any, as it, in good faith, may determine to be equitable in the circumstances and may require in connection therewith the surrender of the PRSUs in a manner that complies with Section 409A of the Code.  Any action taken by the Committee pursuant to this Section 7 will only be taken to the extent it does not result in the PRSUs failing to comply with or ceasing to be exempt from Section 409A of the Code.
8.    Special Incentive Compensation.  The Participant agrees that the award of the PRSUs is special incentive compensation and that it, any dividend equivalents paid thereon (even if treated as compensation for tax purposes) and any other property received on account of such PRSUs will not be taken into account as “salary” or “compensation” or “bonus” in determining the amount of any payment under any pension, retirement or profit-sharing plan of the Company or any life insurance, disability or other benefit plan of the Company.
9.    Relationship to the Plan.  This Agreement is subject to the terms of the Plan and any related administrative policies or procedures adopted by the Company.  If there is any inconsistency between this Agreement and the Plan or any such administrative policies or procedures, the Plan and the policies or procedures, in that order, shall govern (except that, with respect to Sections 3.4 and 4 of this Agreement, the terms of this Agreement shall govern in the case of an inconsistency between Sections 3.4 or 4 of this Agreement and the Plan).
10.    No Effect on Employment Relationship.  This Agreement is not intended to have any effect upon the Participant’s employment relationship with the Company or any Subsidiary.  Nothing in this Agreement shall interfere with or affect the rights of the Company or the Participant under any employment agreement or confer upon the Participant any right to continued employment with the Company or any Subsidiary.
11.    Forfeiture upon Termination due to Violation of the Code of Conduct and Ethics.  Notwithstanding any other provisions of this Agreement, if the Participant’s employment with the Company or any Subsidiary is terminated on account of a violation of the Company’s Code of Conduct and Ethics, the PRSUs will be forfeited upon such termination.
12.    Binding Effect.  Subject to the provisions of the Plan, this Agreement shall inure to the benefit of and be binding upon the Participant and the Company and their respective heirs, legal representatives, successors and assigns.
13.    Amendments.  Any amendment to the Plan shall be deemed to be an amendment to this Agreement to the extent that the amendment is applicable hereto; provided, however, that no amendment shall adversely affect the rights of the Participant under this Agreement without the Participant’s consent (provided, however, that the Participant’s consent shall not be required to an amendment that is deemed necessary by the Company to ensure compliance with Section 409A of the Code).  No amendment, modification, waiver or release of or under this Agreement will be effective unless evidenced by an instrument in writing signed by each of the Company and the Participant.
14.    Compliance with Law.  The Company shall make reasonable efforts to comply with all applicable U.S. federal and state securities laws.
15.    Compliance with Section 409A of the Code.  To the extent applicable, it is intended that this Agreement and the Plan comply with the provisions of Section 409A of the Code, so that the income inclusion provisions of Section 409A(a)(1) of the Code do not apply to the Participant.  This Agreement and the Plan shall be interpreted in a manner consistent with this intent.  Reference to Section 409A of the Code is to Section 409A of the Internal Revenue Code of 1986, as amended, and will also include any proposed, temporary or final regulations, or any other guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service.  
16.    Severability.  If any provision of this Agreement or the application of any provision hereof to any person or circumstances is held invalid, unenforceable or otherwise illegal, the remainder of this Agreement and the application of such provision to any other person or circumstances shall not be affected, and the provisions so held to be invalid, unenforceable or otherwise illegal shall be reformed to the extent (and only to the extent) necessary to make it enforceable, valid and legal.
17.    Electronic Delivery.  The Company may, in its sole discretion, deliver any documents related to the PRSUs and the Participant’s participation in the Plan, or future awards that may be granted under the Plan, by electronic means or to request the Participant’s consent to participate in the Plan by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and, if requested, agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company.

[SIGNATURES ON NEXT PAGE]
 
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

PARTICIPANT    OM GROUP, INC.

	
					
	By:
	 
	 
	By:
	 

	 
	[NAME]
	 
	 
	[NAME]

	 
	 
	 
	Title:
	[TITLE]Exhibit 10.9_Irvine Leases

Exhibit 10.9

FIRST AMENDMENT TO OFFICE BUILDING LEASE

THIS FIRST AMENDMENT TO OFFICE BUILDING LEASE ("Amendment") is made as of this l0th day of December, 2010, by and between WW VKO OWNER LLC, a Delaware limited liability company ("Landlord"), and CALIFORNIA STEM CELL, INC., a Delaware corporation ("Tenant").    

RECITALS

A.    Landlord and Tenant entered into that certain Office Building Lease dated October 18, 2010 (the "Lease"), pertaining to certain real property commonly known as Suite 130 of the building located at 18301 Von Karman Avenue, Irvine, California, containing approximately 8,000 rentable square feet (the "Premises").

B.    Landlord and Tenant desire to amend the Lease to, among other things, revise the Permitted Use.
AGREEMENT

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant agree as follows:

1.Permitted Use. As of the date hereof, the definition of "Permitted Use” set forth in Section 1.16 of the Lease is revised to include the following additional uses which shall be referred to as the ' Expanded Uses". The Expanded Uses shall consist solely of light biotechnology research and development which shall be done only within the portion of the Premises comprised of the clean rooms and general laboratory area, as depicted on the Floor Plan attached to the Lease. During such time as the Expanded Uses are permitted, the Permitted Use and the Expanded Uses shall be collectively referred to as the Permitted Use. Tenant represents and warrants that the City of Irvine approved the Expanded Uses at the Premises and that the Expanded Uses does not conflict with any applicable zoning codes. Tenant further represents and warrants that the Expanded Uses will not utilize or produce Hazardous Materials and any laboratory waste (including biomedical waste, if  any) will be handled in accordance with all applicable Laws, rules and regulations and disposed of  by a medical waste disposal company. In addition to all other indemnities set forth in the Lease, Tenant hereby agrees to indemnify, defend and hold Landlord harmless from any loss, damage, cause of action or any other claim in any way related to or in connection with the Expanded Uses. It is the sole responsibility of Tenant to ensure that throughout the Term the Expanded Uses comply with all applicable Laws, including, without limitation, Hazardous Materials Laws, rules, regulations and CC&Rs. If at any time the Expanded Uses are no longer permitted or allowed by the City or pursuant to any applicable Laws, including, without limitation, Hazardous Materials Laws, rules, regulations or CC&Rs or if the Expanded Uses are the sole and direct cause of an increase in Landlord's insurance premiums or adversely affect Landlord's insurance coverage in any way (unless Tenant pays the increased amount of Landlord's insurance premiums which are attributable to the Expanded Use or otherwise mitigates any additional requirements of the insurance company), (a) Tenant shall immediately cease all business operations at the Premises involving the Expanded Uses, (b) Tenant shall return the clean rooms and general laboratory area to a condition and shall construct, at Tenant’s sole cost and expense, tenant improvements consistent with the tenant improvements in the remaining portions of the Premises, and (c) the definition of Permitted Use shall be immediately deemed not to include the Expanded Uses.

2.    Brokers. Landlord and Tenant each represent to the other that, other than Grubb & Ellis and CB Richard Ellis, neither party has had any other dealings with any real estate broker, agent or finder in connection with the negotiation of this Amendment, and that they know of no real estate broker, agent or finder who is, or might be, entitled to a commission or finder's fee in connection with this Amendment. Each party shall indemnify, protect, defend and hold harmless the other party against all claims, demands, losses, liabilities, lawsuits, judgments and costs and expenses (including reasonable attorneys' fees) resulting from any claims that may be asserted by any other broker, agent or finder based on any statements or representations by the indemnifying party. The terms of this Section will survive the expiration or earlier termination of the Lease.

3.    Full Force and Effect. Except as expressly modified hereby, the Lease shall remain unchanged and in full force and effect. In the case of any inconsistency between the provisions of the Lease and this Amendment, the provisions of this Amendment shall govern and control. All references herein and in the Lease to the "Lease" shall mean, unless the context clearly indicates to the contrary, the Lease as amended by this Amendment. Defined terms used herein shall have the meaning set forth in the Lease, unless a contrary meaning is contained in this Amendment.

4.    No Oral Agreements. The Lease and this Amendment contain all of the agreements of the parties with respect to the matters set forth herein, except for those terms and conditions incorporated herein by reference. There are no oral agreements or understandings between the parties hereto affecting the Lease or this Amendment. Neither the Lease nor this Amendment can be changed or terminated orally but only by an agreement in writing signed by the party against whom enforcement or any waiver, change, modification or discharge is sought.

5.    Counterparts. This Amendment may be signed in two or more counterparts. When at least one such counterpart has been signed by each party, this Amendment shall be deemed to have been fully executed, each counterpart shall be deemed to be an original, and all counterparts shall be deemed to be one and the same agreement.

6.    Successors and Assigns. This Lease, as amended hereby, shall apply to and bind Landlord and Tenant and their respective successors and assigns.

IN WITNESS WHEREOF,  Landlord  and Tenant have  executed this Amendment  as of the date first set forth above.

LANDLORD:            WW VKO Owner, LLC
a Delaware limited liability company

By: /s/ Kashif Z. Sheilkh
Name: Kashif Z. Sheilkh
Title: Vice President

TENANT:            CALIFORNIA STEM CELL, INC.,
a Delaware Corporation

       By: /s/ Chris Airriess
Name: Chris Airriess
Its: COO

SECOND AMENDMENT TO OFFICE LEASE AGREEMENT

THIS SECOND AMENDMENT TO OFFICE LEASE AGREEMENT ("Amendment") is made as of this 1st day of February, 2012, by and between WW VKO OWNER LLC, a Delaware limited liability company ("Landlord"), and CALIFORNIA STEM CELL, INC., a Delaware corporation ("Tenant").

RECITALS

A.Landlord and Tenant entered into that certain Office Lease dated October 18, 2010 (the "Original Lease"), as amended by that certain First Amendment to Office Building Lease dated December 10, 2010 (the "First Amendment"), pertaining to certain real property commonly known as Suite 130 of the building located at 18301 Von Karman Avenue, Irvine, California, containing approximately 8,000 rentable square feet (the "Original Premises"). The Original Lease and the First Amendment are collectively referred to as the "Lease".

B.Landlord and Tenant desire to amend the Lease to, among other things, increase the size of the Original Premises, extend the Term and adjust the Basic Rent.

AGREEMENT

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant agree as follows:

1.Effective Date. As used herein, the "Effective Date" shall be July 15, 2012.

2.Premises. As of the Effective Date, the Premises, as described in Sections 1.4(2) and 1.6 of the Lease is expanded to include Suite 100 of the Building containing approximately 3,890 rentable square feet, as depicted on Exhibit "A" attached hereto and incorporated herein by this reference (the "Expansion Premises"). Thereafter, all references in the Lease to the "Premises" shall include the Original Premises and the Expansion Premises and the "Premises" shall contain, in the aggregate 11,890 rentable square feet.

3.Early Entry. Provided Tenant has delivered to Landlord the increased Security Deposit, the prepaid rent described in Section 6 below and an updated certificate of insurance, Tenant shall be granted access to the Expansion Premises upon full execution and delivery of this Amendment. Such early access shall be subject to all terms and conditions of the Lease, as hereby amended; provided, however, Tenant shall not be obligated to pay Basic Rent for the Expansion Premises prior to the Effective Date.

4.Term. The Term, as set forth in Section 1.7 of the Original Lease, is increased by Sixty-Five (65) Months from the Effective Date. As a result, unless terminated sooner, the expiration date shall be December 14, 2017.

5.Annual Basic Rent.  The Basic Rent, as set forth in Section 1.11 of the Original Lease, is revised to reflect that as o(the Effective Date, the Basic Rent shall be as follows:

	
							
	Dates
	Monthly Basic Rental Rate per
	Monthly Basic Rental Rate per
	Monthly Installments of
	Monthly Installments of
	Total Monthly Installments of
	Annual Basic Rent

	 
	Rentable
	Rentable Square
	Basic Rent for
	Basic Rent for
	Basic Rent
	 

	 
	Square Foot of the Original
	Foot of the Expansion
	the Original Premises
	the Expansion Premises
	 
	 

	 
	Premises
	Premises
	(8,000 SqFt)
	(3,890SqFt)
	 
	 

	 
	 
	 
	 
	 
	 
	 

	6/1/2012
	$2.01
	 
	$16,080.00
	 
	$16,080.00
	$192,960.00^

	7/14/12
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	Effective Date
	$2.01
	$2.00*
	$16,080.00
	$7,780.00*
	$16,080.00
	$192,960.00^

	-12/14/12
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	12/15/12 -
	$2.01
	$2.00
	$16,080.00
	$7,780.00
	$23,860.00
	$286,230.00^

	5/31/13
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	6/1/13-
	$2.07
	$2.00
	$16,560.00
	$7,780.00
	$24,340.00
	$292,080.00^

	7/14/13
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	7/15/13 -
	$2.07
	$2.06
	$16,560.00
	$8,013.40
	$24,573.40
	$294,880.80^

	5/31/14
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	6/1/14 -
	$2.13
	$2.06
	$17,040.00
	$8,013.40
	$25,053.40
	$300,640.80^

	7/14/14
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	7/15/14 -
	$2.13
	$2.12
	$17,040.00
	$8,246.80
	$25,286.80
	$303,441.60^

	5/31/15
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	6/1/15 -
	$2.19
	$2.12
	$17,520.00
	$8,246.80
	$25,776.80
	$309,201.60^

	7/14/2015
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	7/15/15 -
	$2.19
	$2.18
	$17,520.00
	$8,480.20
	$26,000.20
	$3I 2,002.40^

	9/30/15
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	10/1/15 -
	$2.18
	$2.18
	$17,440.00
	$8,480.20
	$25,920.20
	$311,042.40^

	7/14/16
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	7/15/16 -
	$2.25
	$2.25
	$18,000.00
	$8,752.50
	$26,752.50
	$321,030.00

	7/14/17
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	7/15/17-
	$2.32
	$2.32
	$18,560.00
	$9,024.80
	$27,584.80
	$331,017.60^

	12/14/17
	 
	 
	 
	 
	 
	 

* Abated as to the Expansion Premises. The Monthly Installments of Basic Rent for the Expansion Premises for the period from July 15, 2012 through December 14, 2012 are abated. Should Tenant at any time during the Term be in Default under the Lease and not cure such Default within the applicable cure period, Tenant shall reimburse Landlord the amount of the abated Monthly Installments of Basic Rent.

^Annualized.

6.Security Deposit and Prepayment of Rent.   As of the date of this Amendment, the Security Deposit, as set forth in Section 1.14 of the Original Lease, shall increase from

45562v5

"$17,557.94" to "$106,444.44". Upon Tenant's execution of this Amendment, Tenant  shall deliver  to  Landlord   (a)  the  increased  portion  of  the  Security  Deposit  in  the  amount of $88,886.50, and (b) the Monthly Installment 

of Basic Rent for the period of July 15, 2012 through August 14, 2012 in the amount of $16,068.00. To the extent not previously applied and provided Tenant is not in Default, a portion of the Security Deposit shall be applied to the payment of Tenant's Monthly Installments of Basic Rent for the periods and in the amounts as set forth in the following schedule.

	
		
	PERIOD
	AMOUNT OF SECURITY DEPOSIT TO BE APPLIED TO MONTHLY INSTALLMENT OF BASIC RENT

	7/15/13 - 8/14/13
	$8,013.40

	7/15/14 - 8/14/14
	$8,246.80

	7/15/15 -8/14/15
	$8,480.20

	7/15/16 - 8/14/16
	$8,752.50

	7/15/17 - 8/14/17
	$9,024.80

7.Base Year. As of the Effective Date, the Base Year set forth in Section 1.12 of the Original Lease is changed from "Calendar Year 2011" to "Calendar Year 2012". In addition, Section 6.2 of the Original Lease is revised to provide that Tenant shall not be required to pay Tenant's Percentage of the increase of actual Operating Expenses paid over the Base Year amount or Tenant's Percentage of the increase of actual Real Property Taxes paid over the Base Year amount applicable to the period between July 15, 2012 and July 14, 2013.

8.Tenant's Share.  As of the Effective Date, Tenant's Share, as set forth in Section 1.13 of the Original Lease, shall increase from "3.53%" to "5.25%".

9.Parking. As of the Effective Date, Section 1.8 of the Original Lease is revised to provide that Tenant's allocation of unreserved vehicle parking spaces shall be increased from "twenty-seven (27)" to "forty-eight (48)" of which five (5) [increased from three (3) as provided in Section 1.8] may be reserved vehicle parking spaces, at  Tenant's election. Tenant shall continue to be entitled to use the VIP Spaces described in Section 1.8 of the Original Lease, subject to the limitations set forth in Section 1.8. As of the Effective Date, the Monthly Vehicle Parking Space Fees shall be revised to provide that (a) for the unreserved vehicle parking spaces, from the Effective Date through September 30, 2014 there will be no Monthly Vehicle Parking Space Fee and from October 1, 2014 through December 14, 2017, the Monthly Vehicle Parking Space Fee shall be $40.00 for each unreserved vehicle parking space; and (b) for the reserved vehicle parking spaces, the Monthly Vehicle Parking Space Fee from the Effective Date through December 14, 2017 shall be $90.00 for each reserved vehicle parking space. To the extent not specifically revised herein, the terms of Section 1.8 of the Original Lease remain in full force and effect.

10.Expansion Improvements. Tenant accepts the Expansion Premises in its "as-is" condition, without any agreements, representations, understandings or obligations on the part of Landlord to perform or pay for any alterations, repairs or improvements. Notwithstanding the foregoing, Landlord, agrees to reimburse Tenant with a TI Contribution in the amount of up to One Hundred Sixteen Thousand Seven Hundred Dollars ($116,700) (based on $30.00 per Rentable Square Foot in the Expansion Premises") (the "TI Contribution") to be used by Tenant to construct tenant improvements in the Expansion Premises pursuant to Plans and Specifications approved in advance by Landlord (the "Expansion Improvements"). The Expansion Improvements shall be constructed by Tenant using contractors and architects approved in advance by Landlord and may include those contractors and architects set forth on Exhibit "C" which have been approved by Landlord. All Expansion Improvements shall be constructed in accordance with the Work Letter attached hereto as Exhibit "B" and incorporated herein by reference and the TI Contribution shall be disbursed in accordance with the Work Letter. The Expansion Improvements shall be built using Building standard materials and finishes or using materials and finishes consistent with the materials and finishes in Suite 130 of the Original Premises.

11.Signage. Article 36 of the Lease is revised to provide that Tenant shall receive additional 

directory and suite signage for the Expansion Premises.

12.Brokers.  Landlord and Tenant each represent to the other that, other than Grubb & Ellis representing Tenant and CB Richard Ellis representing Landlord, neither party has had any dealings with any other real estate broker, agent or finder in connection with the negotiation of this Amendment, and that they know of no other real estate broker, agent or finder who is, or might be, entitled to a commission or finder's fee in connection with this Amendment. Each party shall indemnify, protect, defend and hold harmless the other party against all claims, demands, losses, liabilities, lawsuits, judgments and costs and expenses (including reasonable attorneys' fees) resulting from any claims that may be asserted by any broker, agent or finder based on any statements or representations by the indemnifying party. The terms of this Section will survive the expiration or earlier termination of the Lease.

13.Full Force and Effect. Except as expressly modified hereby, the Lease shall remain unchanged and in full force and effect. In the case of any inconsistency between the provisions of the Lease and this Amendment, the provisions of this Amendment shall govern and control. All references herein and in the Lease to the "Lease" shall mean, unless the context clearly indicates to the contrary, the Lease as amended by this Amendment.  Defined terms used herein shall have the meaning set forth in the Lease, unless a contrary meaning is contained in this Amendment.

14.No Oral Agreements. The Lease and this Amendment contain all of the agreements of the parties with respect to the matters set forth herein, except for those terms and conditions incorporated herein by reference. There are no oral agreements or understandings between the parties hereto affecting the Lease or this Amendment. Neither the Lease nor this Amendment can be changed or terminated orally but only by an agreement in writing signed by the party against whom enforcement or any waiver, change, modification or discharge is sought.

15.Counterparts. This Amendment may be signed in two or more counterparts. When at least one such counterpart has been signed by each party, this Amendment shall be deemed to have been fully executed, each counterpart shall be deemed to be an original, and all counterparts shall be deemed to be one and the same agreement.

16.Successors and Assigns. This Lease, as amended hereby, shall apply to and bind Landlord and Tenant and their respective successors and assigns.

IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the date first set forth above.

LANDLORD:            WW VKO Owner, LLC
a Delaware limited liability company

By: /s/ Kashif Z. Sheilkh
Name: Kashif Z. Sheilkh
Title: Vice President

TENANT:            CALIFORNIA STEM CELL, INC.,
a Delaware Corporation

       By: /s/ Jason Livingston

Name: Jason Livingston
Its: CFO

THIRD AMENDMENT TO OFFICE LEASE AGREEMENT

THIS THIRD AMENDMENT TO OFFICE LEASE AGREEMENT ("Amendment") is made as of this 28th day of February, 2014, by and between CGGL 18301 LLC, a Delaware limited liability company ("Landlord"),  and CALIFORNIA STEM CELL, INC., a Delaware corporation ("Tenant").

RECITALS

A.Landlord's predecessor in interest, WW VKO Owner, LLC, a Delaware limited liability company ("VKO"), and Tenant entered into that certain Office Lease dated October 18, 2010 (the "Original Lease"), as amended by that certain First Amendment to Office Building Lease dated December 10, 2010 (the "First Amendment") by and between VKO and Tenant and that certain Second Amendment to Office Lease Agreement dated February l, 2012 (the "Second Amendment") by and between VKO and Tenant, pertaining to certain real property commonly known as Suites 100 and 130 of the building located at 18301 Von Karman Avenue, Irvine, California, containing in the aggregate approximately 11,890 rentable square feet (the "Existing Premises"). The Original Lease, the First Amendment and the Second Amendment are collectively referred to as the "Lease".

B.Landlord succeeded to the interest of "Landlord" under the Lease pursuant to that certain Assignment of Leases and Intangible Property dated January 16, 2014 by and between VKO and Landlord.

C.Landlord and Tenant desire to amend the Lease to, among other things, provide Tenant with a separate storage area within the Building.

AGREEMENT

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant agree as follows:

1.Effective Date.  As used herein, the "Effective Date" shall be March 1, 2014.

2.Storage. In addition to the Existing Premises, Tenant has requested and Landlord has agreed to allow Tenant to use Storage Space Number 12 located on the basement level of the Building, as depicted on Exhibit "A'', attached hereto and incorporated herein by reference, containing approximately 206 rentable square feet (the "#12 Storage Area"). As of the Effective Date, the definition of Premises shall include the #12 Storage Area. The #12 Storage Area is to be used solely for storage of Tenant's documents and records, and for no other purpose. Tenant's use of the #12 Storage Area shall be on a month-to-month basis beginning on the Effective Date and either Landlord or Tenant may terminate Tenant's use of the #12 Storage Area  by  providing  no  less than  thirty  (30) days  written  notice  to the  other party.    If not previously terminated, Tenant's use of the #12 Storage Area shall automatically terminate concurrently with the expiration or earlier termination of the Lease. Employees, agents and invitees of Tenant are strictly prohibited from working within the boundaries of the Storage Area. If Tenant uses any portion of the #12 Storage Area for purposes other than storage, Tenant shall pay rent for such area at the then market rental rate for office space. In addition to the Basic Rent Tenant is required to pay pursuant to the terms of the Lease, beginning on the Effective Date, Tenant shall also pay Landlord Rent for the #12 Storage Area in the amount of Two Hundred Six and 00/100 Dollars ($206.00) (based on One Dollar ($1) per rentable square foot of the #12 Storage Area) per month. Tenant accepts the #12 Storage Area in its "as-is" condition, without any agreements, representations, understandings or obligations on the part of Landlord to perform or pay for any alterations, repairs or improvements. Upon vacating the # 12 Storage Area, Tenant shall leave the #12 Storage Area in the condition in which it was received. Upon the termination of the Tenant's right to use the #12 Storage Area and Tenant's vacating the #12 Storage Area in the condition required, the definition of the Existing Premises shall be deemed no longer to include the #12 Storage Area.

3.Brokers. Landlord and Tenant each represent to the other that neither party has had any dealings with any real estate broker, agent or finder in connection with the negotiation of this Amendment, and that they know of no real estate broker, agent or finder who is, or might be, entitled to a commission or finder's fee in connection with 

this Amendment. Each party shall indemnify, protect, defend and hold harmless the other party against all claims, demands, losses, liabilities, lawsuits, judgments and costs and expenses (including reasonable attorneys' fees) resulting from any claims that may be asserted by any broker, agent or finder based on any statements or representations by the indemnifying party. The terms of this Section will survive the expiration or earlier termination of the Lease.

4.Full Force and Effect. Except as expressly modified hereby, the Lease shall remain unchanged and in full force and effect. In the case of any inconsistency between the provisions of the Lease and this Amendment, the provisions of this Amendment shall govern and control. All references herein and in the Lease to the "Lease" shall mean, unless the context clearly indicates to the contrary, the Lease as amended by this Amendment. Defined terms used herein shall have the meaning set forth in the Lease, unless a contrary meaning is contained in this Amendment.

5.No Oral Agreements. The Lease and this Amendment contain all of the agreements of the parties with respect to the matters set forth herein, except for those terms and conditions incorporated herein by reference. There are no oral agreements or understandings between the parties hereto affecting the Lease or this Amendment. Neither the Lease nor this Amendment can be changed or terminated orally but only by an agreement in writing signed by the party against whom enforcement or any waiver, change, modification or discharge is sought.

6.Counterparts. This Amendment may be signed in two or more counterparts. When at least one such counterpart has been signed by each party, this Amendment shall be deemed to have been fully executed, each counterpart shall be deemed to be an original, and all counterparts shall be deemed to be one and the same agreement.

7.Successors and Assigns. This Lease, as amended hereby, shall apply to and bind Landlord and Tenant and their respective successors and assigns.

IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the date first set forth above.

LANDLORD:        CGGL 18301 LLC, a Delaware
limited liability company

By:     Greenlaw 18301 VK Investors, LLC, a California limited liability company its operations member

		
	By:
	Greenlaw Partners, LLC, a California limited liability company

By: /s/ Wilbur H. Smith  III
Name: Wilbur H. Smith III
Title: Principal

TENANT:            CALIFORNIA STEM CELL, INC.,
a Delaware Corporation

       By: /s/ Chris Airriess
Name: Chris Airriess
Its: COO

FOURTH AMENDMENT TO OFFICE LEASE AGREEMENT

THIS FOURTH AMENDMENT TO OFFICE LEASE AGREEMENT (“Amendment”) is made as of this 19th day of December, 2014, by and between CGGL 18301 LLC, a Delaware limited liability company (“Landlord”), and NEOSTEM, INC., a Delaware corporation (“Tenant”).

RECITALS
A.    Landlord’s predecessor-in-interest, WW VKO Owner, LLC, a Delaware limited liability company (“VKO”), and Tenant’s predecessor-in-interest, California Stem Cell, Inc., a Delaware corporation (“CSC”), entered into that certain Office Lease dated October 18, 2010 (the “Original Lease”), as amended by that certain First Amendment to Office Building Lease dated December 10, 2010 (the “First Amendment”) by and between VKO and CSC, that certain Second Amendment to Office Lease Agreement dated February 1, 2012 (the “Second Amendment”) by and between VKO and CSC and that certain Third Amendment to Office Lease Agreement dated February 28, 2014 (the “Third Amendment”) by and between Landlord and CSC, pertaining to certain real property commonly known as Suites 100 and 130 of the building located at 18301 Von Karman Avenue, Irvine, California, containing approximately 11,890 rentable square feet, together with #12 Storage Area (the “Original Premises”).  The Original Lease, the First Amendment, the Second Amendment and the Third Amendment are collectively referred to as the “Lease”.
B.    Landlord and Tenant desire to amend the Lease to, among other things, increase the size of the Original Premises, extend the Term and adjust the Basic Rent.
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord and Tenant agree as follows: 

1.    Effective Date.  As used herein, the “Effective Date” shall be the later of (a) April 1, 2015, and (b) substantial completion of the Second Expansion Improvements.

2.    Leased Premises.  As of the Effective Date, the Leased Premises, as described in Sections 1.4(2) and 1.6 of the Lease, as previously expanded pursuant to Section 2 of the Second Amendment and Section 2 of the Third Amendment, is further expanded to include Suite 350 of the Building containing approximately 4,221 rentable square feet, as depicted on Exhibit “A” attached hereto and incorporated herein by this reference (the “Second Expansion Premises”).  Thereafter, all references in the Lease to the “Leased Premises” shall include the Original Premises, the Expansion Premises and the Second Expansion Premises and the “Leased Premises”, excluding #12 Storage Area, shall contain, in the aggregate 16,111 rentable square feet.  

3.    Term.  The Term, as set forth in Section 1.7 of the Original Lease, as previously extended pursuant to Section 4 of the Second Amendment, is increased by Seventy-Two (72) Months from the Effective Date (the “Expansion Term”).  As a result, unless terminated sooner, the expiration date shall be the date which is Seventy-two (72) months from the Effective Date, which is estimated to be on or about March 31, 2021, but will be confirmed in accordance with Section 4 below.

4.    Confirmation of Dates.  Upon the determination of the Effective Date, and the expiration date, the parties will confirm such dates in a writing provided by Landlord.

5.    Annual Basic Rent.  The Basic Rent, as set forth in Section 1.11 of the Original Lease, as revised by Section 5 of the Second Amendment, is revised further to reflect that as of the Effective Date, the Basic Rent shall be as follows:
	
			
	Months of the Expansion Term
	Monthly Installments of Basic Rent
	Annual Basic Rent

	1 - 4
	$37,803.21*
	--

	5 - 12
	$37,803.21
	$453,638.52^

	13 - 24
	$38,608.76
	$463,305.12

	25 - 36
	$39,414.31
	$472,971.72

	37 - 48
	$40,219.86
	$482,638.32

	49 - 60
	$41,025.41
	$492,304.92

	61 - 72
	$41,830.96
	$501,971.52

* Abated.  The Monthly Installments of Basic Rent for the first four (4) months of the Expansion Term are abated.  Should Tenant at any time during the Expansion Term be in Default under the Lease and not cure such Default within the applicable cure period, Tenant shall reimburse Landlord the amount of the abated Monthly Installments of Basic Rent.
^ Annualized.
6.    Base Year.  As of the Effective Date, the Base Year set forth in Section 1.12 of the Original Lease, as revised in Section 7 of the Second Amendment, is changed from “Calendar Year 2012” to “Calendar Year 2015”.  

7.    Tenant’s Share.  As of the Effective Date, Tenant’s Share, as set forth in Section 1.13 of the Original Lease, as previously increased pursuant to Section 8 of the Second Amendment, shall increase from “5.25%” to “7.18%”. 

8.    Parking.  As of the Effective Date, Section 1.8 of the Original Lease, as revised by Section 9 of the Second Amendment, is revised to provide that Tenant’s allocation of unreserved vehicle parking spaces shall be increased from “forty-eight (48)” to “sixty-four (64)” of which five (5) may be reserved vehicle parking spaces, at Tenant’s election.  Tenant shall continue to be entitled to use the VIP Spaces described in Section 1.8 of the Original Lease, as amended by Section 9 of the Second Amendment, subject to the limitations set forth therein.  As of the Effective Date, the Monthly Vehicle Parking Space Fees shall be revised with respect only to the unreserved vehicle parking spaces, to provide that for the eighteen (18) month period following the Effective Date (as defined in this Amendment) there will be no Monthly Vehicle Parking Space Fee and thereafter the Monthly Vehicle Parking Space Fee shall return to the rate of $40.00 for each unreserved vehicle parking space.  To the extent not specifically revised herein, the terms of Section 1.8 of the Original Lease, as revised by Section 9 of the Second Amendment, remain in full force and effect.

9.    Expansion Improvements.  Tenant accepts the Second Expansion Premises in its “as-is” condition, without any agreements, representations, understandings or obligations on the part of Landlord to perform or pay for any alterations, repairs or improvements.  Notwithstanding the foregoing, Landlord agrees, at Landlord’s sole cost and expense, to construct mutually agreed to improvements in the Second Expansion Premises as set forth and/or depicted on the Pricing Plan prepared by H. Hendy Associates dated October 9, 2014, excluding the dedicated HVAC, and to repaint and recarpet the Second Expansion Premises using Tenant’s existing color pallet (the “Second Expansion Improvements”).  The Second Expansion Improvements shall be made using Building standard materials, improvements and finishes.  

10.    Emergency Generator.  
(a)    In connection with the Permitted Use, set forth in Article 1 of the Lease, as amended by Section 1 of the First Amendment, Tenant, at Tenant’s sole cost and expense, shall be permitted to install, store and use an emergency generator and any applicable or associated, pipes, conduits, units and/or tanks required for the storing of any generator materials and/or the operation of the emergency generator (collectively, “Generator”) outside the Building in an area directly adjacent to Suite 130 in the location specified on the site plan attached hereto as Exhibit “A” (the “Outside Areas”) on a concrete pad built by Tenant together with a secure, fenced, limited access, visual barrier reasonably approved by Landlord.  The Generator for purposes of the Lease and Section 16 thereof, shall be “Supplemental Equipment” and subject to the terms thereof.  The Outside Areas shall be deemed to be part of the Leased Premises.  Tenant shall obtain all required governmental approvals and permits for the storage and operation of the Generator prior to the commencement of the Generator installation work and Tenant shall continue to observe and maintain such operational approvals and permits throughout the Term.  Landlord, at Landlord’s sole cost and expense, agrees to promptly upon Tenant’s request provide architectural drawings, relating to the installation of the concrete pad, as well as promptly perform within a reasonable time frame (so as not to delay Tenant’s installation of the Generator) any modifications (including removal, addition, regarding and replanting) to the existing landscaping.
(b)    All work and alterations to the Leased Premises and/or the Outside Areas performed in connection with the installation of the Generator shall be subject to the terms of the Lease, including, but not limited to, prior to the commencement of the installation work (i) Tenant’s receipt of Landlord’s written approval of the plans and specifications, which approval shall not be unreasonably withheld, conditioned or delayed, (ii) Tenant’s receipt of all required governmental approvals and permits for the installation work, and (iii) Tenant’s reasonable satisfaction of all insurance requirements (including the naming of additional insureds to the contractor and subcontractor insurance policies as reasonably required by Landlord).  Tenant shall provide Landlord with a schedule of the proposed installation work at least five (5) business days prior to the commencement of such work.  Tenant shall not make any modifications, alterations or penetrations of the Building’s exterior or foundation without Landlord’s prior written approval, which approval shall not be unreasonably withheld, conditioned or delayed, and any such work shall be performed by contractors or subcontractors chosen by Landlord in its sole and absolute discretion, but subject to (1) Tenant’s reasonably requirements and specifications related to such contractors/subcontractors expertise, not only as to the installation of the Generator, but as necessary for the operation of Tenant’s business needs, and (2) Tenant’s reasonably approval of costs and expenses for such work.  Any temporary alterations to the Building, Outside Areas or the Property, including, but not limited to, landscaping alterations, but subject to Landlord’s obligations as set forth in Section 10(a) above, shall be restored by Tenant, at Tenant’s sole cost and expense, to substantially the same condition as existed prior to the installation of the Generator.  The Generator as Supplemental Equipment shall be subject to Section 16.1 of the Lease and at the expiration or earlier termination of the Lease or earlier removal of the Generator shall be removed by Tenant in accordance with Section 15.2 as an alteration that Landlord has instructed Tenant to remove.
(c)    Any Hazardous Materials, as defined in the Lease, stored or used on the Leased Premises in connection with the Generator (“Generator Materials”) shall be permitted subject to Tenant’s obligation to comply with all Hazardous Materials laws, and Tenant’s obligation to specify the Generator Materials in the annual Hazardous Materials management plan and the indemnification provisions of the Lease, shall apply to the Generator Materials.
(d)    Prior to installation of the Generator, in connection with the pending installation of the Generator, at Landlord’s request, Tenant shall deliver to Landlord an updated Hazardous Materials 

management plan which shall include the estimated quantities of all Generator Materials to be stored or used on the Leased Premises.

11.    Tenant’s Option to Relocate.  Provided Tenant is not in Default under any provision of this Lease, is in occupancy of the entire Leased Premises, excluding the#12 Storage Area and has not assigned the Lease or subleased a portion of the Leased Premises and subject to any rights to expand or rights of first refusal or rights of first offer granted to other tenants of the Building prior to the date of this Amendment, Landlord grants Tenant a right to relocate the Second Expansion Premises to either Suite 120 and/or Suite 150 of the Building (the “Relocation Area”).  If the Relocation Area becomes vacant during the Expansion Term, or any renewal Term exercised by Tenant pursuant to Section 39 (Option Term) of the Lease, Landlord will notify Tenant in writing prior to offering the Relocation Area to a third party (the “Relo Offer Notice”).  The terms of Tenant’s lease of the Relocation Area would be the same as those for the Second Expansion Premises, provided that the Basic Rent would be calculated using the same rate per rentable square foot as the Second Expansion Premises.  In addition, Tenant would accept the Relocation Area in its “AS-IS” condition; provided, however, Landlord would repaint and recarpet the portion of the Relocation Area Tenant elected to lease using Building standard materials and finishes.  Tenant shall have five (5) days following receipt of the Relo Offer Notice (which notice shall describe the portion of the Relocation Area available and set forth the date on which the relocation would occur) to notify Landlord in writing if Tenant is exercising Tenant’s right to lease the Relocation Area (or portion thereof offered in the Relo Offer Notice).  If Tenant gives notice exercising its right to relocate, the parties shall execute an amendment to the Lease to confirm the new calculation of the Monthly Basic Rent.  If Tenant does not exercise the right to relocate within such five (5) day period, then such right shall be deemed to have lapsed and Landlord may thereafter freely lease all or a portion of the Relocation Area to any other party, at any time, on any terms in Landlord’s sole discretion.  Landlord would then be obligated to deliver a Relo Offer Notice to Tenant the next time the Relocation Area became newly available to lease to a third party. 

12.    Signage.  Article 36 of the Original Lease, as amended by Section 11 of the Second Amendment, is revised to provide that Tenant shall receive additional directory and suite signage for the Second Expansion Premises (and, if applicable, to any Relocation Area).

13.    Option Term.  Landlord and Tenant agree that Tenant continues to have the right to exercise its rights to extend the Term pursuant to Section 39 of the Lease (as set forth in the Addendum to the Original Lease).

14.    Brokers.  Landlord and Tenant each represent to the other that, other than Stream Realty L.P. representing Tenant and CB Richard Ellis representing Landlord, neither party has had any dealings with any other real estate broker, agent or finder in connection with the negotiation of this Amendment, and that they know of no other real estate broker, agent or finder who is, or might be, entitled to a commission or finder’s fee in connection with this Amendment.  Each party shall indemnify, protect, defend and hold harmless the other party against all claims, demands, losses, liabilities, lawsuits, judgments and costs and expenses (including reasonable attorneys’ fees) resulting from any claims that may be asserted by any broker, agent or finder based on any statements or representations by the indemnifying party.  The terms of this Section will survive the expiration or earlier termination of the Lease.

15.    Tenant’s Address for Notices.  In addition to Tenant’s Address for Notices set forth in Section 1.4 of the Original Lease, notices must be sent to NeoStem, Inc., 420 Lexington Avenue, Suite 350, New York City, New York 10170, Attention: Catherine Vaczy, General Counsel.  

16.    Full Force and Effect.  Except as expressly modified hereby, the Lease shall remain unchanged and in full force and effect.  In the case of any inconsistency between the provisions of the Lease and this Amendment, the provisions of this Amendment shall govern and control.  All references herein and in the Lease to the “Lease” shall mean, unless the context clearly indicates to the contrary, the Lease as amended by this Amendment.  Defined terms used herein shall have the meaning set forth in the Lease, unless a contrary meaning is contained in this Amendment.

17.    No Oral Agreements.  The Lease and this Amendment contain all of the agreements of the parties with respect to the matters set forth herein, except for those terms and conditions incorporated herein by reference.  There are no oral agreements or understandings between the parties hereto affecting the Lease or this Amendment.  Neither the Lease nor this Amendment can be changed or terminated orally but only by an agreement in writing signed by the party against whom enforcement or any waiver, change, modification or discharge is sought.

18.    Counterparts.  This Amendment may be signed in two or more counterparts.  When at least one such counterpart has been signed by each party, this Amendment shall be deemed to have been fully executed, each counterpart shall be deemed to be an original, and all counterparts shall be deemed to be one and the same agreement.

19.    Successors and Assigns.  This Lease, as amended hereby, shall apply to and bind Landlord and Tenant and their respective successors and assigns. 

IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the date first set forth above.

LANDLORD:        
CGGL 18301 LLC,
a Delaware limited liability company

By:  Greenlaw 18301 VK Investors, LLC, 
        a California limited liability company
        its operations member
By:      Greenlaw Partners, LLC, a 
California limited liability company
its Managing Member

By:     /s/ Wilbur H. Smith III            
Name:  Wilbur H. Smith, III       
Title:  Principal

		
	TENANT:
	NEOSTEM, INC., 

a Delaware corporation

By:    /s/ Catherine Vaczy                
Name:  Catherine Vaczy 
Its:  General Counsel

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