Document:

exv10w7

 

EXHIBIT 10.7

100 Beaver St., Waltham/Adnexus Therapeutics — Page 1

LEASE AGREEMENT

     THIS LEASE AGREEMENT is made as of this 14th day of November, 2006, between ARE-MA REGION NO.
9, LLC, a Delaware limited liability company (“Landlord”), and ADNEXUS THERAPEUTICS, INC., a
Delaware corporation, formerly known as Compound Therapeutics, Inc. (“Tenant”).

BASIC LEASE PROVISIONS

	 	 	 
	Address:
	 	100 Beaver Street, Waltham, Massachusetts
	 
	 	 
	Premises:
	 	That portion of the Project, containing approximately 31,000 rentable square feet, as determined by Landlord, as shown on Exhibit A and consisting of the following:
	 
	 	 
	 
	 	(1)  Suite 301 consisting of approximately 28,900 rentable square feet on the third floor (the “Third Floor Premises”)
	 
	 	 
	 
	 	(2)  Suite 103 consisting of approximately 2,100 rentable square feet on the first floor (the “First Floor Premises”)
	 
	 	 
	 
	 	The Third Floor Premises and First Floor Premises are collectively referred to as the “Premises”.
	 
	 	 
	Project:
	 	The real property on which the building (the “Building”) in which the Premises are located, together with all improvements thereon and appurtenances thereto as described on Exhibit B.
	 
	 	 
	Base Rent:
	 	$64,583.33 per month for the Premises, plus for the time period set forth in Section 2(b) an additional $437.50 per month for the Second Floor Premises.
	 
	 	 
	Rentable Area of Premises:
	 	Approximately 31,000 sq. ft. with respect to the Premises, plus for the time period set forth in Section 2(b) approximately an additional 350 sq. ft. with respect to
	 
	 	the Second Floor Premises.
	 
	 	 
	Rentable Area of Project:
	 	Approximately 82,000 sq. ft.
	 
	 	 
	Tenant’s Share of Operating Expenses:
	 	37.8% for the Premises, plus for the time period set forth in Section 2(b) an additional 00.43% for the Second Floor Premises.
	 
	 	 
	Security Deposit:
	 	$193,750, as more particularly provided in Section 6
	 
	 	 
	Target Commencement Date:
	 	November 15, 2006 for the Third Floor Premises
	 
	 	 
	Commencement Date:
	 	November 15, 2006
	 
	 	 
	Rent Commencement Date:
	 	November 15, 2006
	 
	 	 
	Rent Adjustment Percentage:
	 	3.5%
	 
	 	 
	Base Term:
	 	A term beginning on the Commencement Date and ending on November 30, 2011. Landlord and Tenant acknowledge that prior to the Commencement Date, Tenant occupies the Third Floor Premises and that portion of the second floor of the Building shown on Exhibit H (the “Second Floor Premises”) as a subtenant under a separate
	 
	 	
	 
	 	
	 
	 	

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 2

	 	 	 
	 
	 	Sublease between Oscient Pharmaceuticals Corporation as Sublandlord and Tenant as Subtenant, dated April 22, 2004,
as amended by the First Amendment to Sublease dated December 31, 2004 and the Second Amendment to Sublease dated October 31, 2005 (as amended to date, the “Prior Sublease”),
which Prior Sublease is pursuant to the Lease Agreement between Genome Therapeutics Corporation as tenant and
Actmed Limited Partnership as landlord, dated June 1, 1992 (the “Overlease”).  The Prior Sublease terminates
as of 12:00 midnight on November 14, 2006, and the Overlease terminates as of midnight
on November 15, 2006.
	 
	 	 
	Permitted Use:
	 	Research and development laboratory, related office
and other related uses consistent with the character
of the Project and otherwise in compliance with the provisions of Section 7 hereof.

	 	 	 
	Address for Rent Payment:

	 	Landlord’s Notice Address:

	385 East Colorado Boulevard, Suite 299

	 	385 East Colorado Boulevard, Suite 299

	Pasadena, CA 91101

	 	Pasadena, CA 91101

	Attention: Accounts Receivable
	 	Attention: Corporate Secretary
	 
	 	 
	Tenant’s Notice Address:
	 	Guarantor of Lease:  None
	100 Beaver Street, Suite 301

Waltham, MA 02453

Attention: Charles Carter
	 	 

The following Exhibits and Addenda are attached hereto and incorporated herein by this reference:

	 	 	 
	þ EXHIBIT A — PREMISES DESCRIPTION

	 	þ EXHIBIT B — DESCRIPTION OF PROJECT
	þ EXHIBIT C-1 — WORK LETTER FOR
THIRD FLOOR PREMISES

	 	þ EXHIBIT C-2 — WORK LETTER FOR FIRST
FLOOR PREMISES
	þ EXHIBIT D — COMMENCEMENT DATE

	 	þ EXHIBIT E — RULES AND REGULATIONS
	þ EXHIBIT F — TENANT’S PERSONAL PROPERTY

	 	þ EXHIBIT G — LANDLORD’S BASE BUILDING WORK AND PROPOSED SCHEDULE
	þ EXHIBIT H — SECOND FLOOR PREMISES

	 	þ EXHIBIT I — FORM OF LICENSE AGREEMENT

     1. Lease of Premises. Upon and subject to all of the terms and conditions hereof, Landlord
hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. Tenant
shall have the right, in common with others entitled thereto, to use and access the portions of the
Project which are for the non-exclusive use of tenants of the Project, including without
limitation, the public or common lobbies, common chases and conduits, mechanical and utility rooms
which are available to be accessed by tenants, hallways, stairways, elevators, walkways, common
lavatories, corridors, elevator lobbies of any multi-tenant floor which may be accessed by Tenant,
access roads, driveways, parking areas, loading areas, sidewalks, landscaped areas and trash
enclosures (collectively referred to herein as the “Common Areas”). Landlord reserves the right to
modify Common Areas, provided that such modifications do not materially adversely affect Tenant’s use of the
Premises for the Permitted Use.

     As used herein “Shared Areas” shall mean the vending area (“First Floor Vending Area”) and
conference room with seating for at least 40 people to be constructed on the first floor of the
Project (the “First Floor Conference Room”) pursuant to Section 2 and the existing glass
wash and autoclave room located on the second floor of the Project. Simultaneously with the
execution of this Lease, Landlord and Tenant shall execute the License Agreement with respect to
the Shared Areas in the form attached hereto as Exhibit I.

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 3

     2. Delivery; Acceptance of Premises; Commencement Date; Base Building Work. Landlord shall
use reasonable efforts to deliver the Third Floor Premises to Tenant on or before the Target
Commencement Date, and the First Floor Premises with Landlord’s Work, if any, Substantially
Completed on or before the date set forth for such Substantial Completion in the First Floor Work
Letter (in each case, “Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises,
Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease
shall not be void or voidable except as provided herein. As used herein, the terms “Landlord’s
Work,” “Force Majeure Delays,” “Tenant Delays” and “Substantially Completed” shall have the
meanings set forth for such terms in the First Floor Work Letter, and the term “Tenant’s Work”
shall have the meaning set forth for such term in the Third Floor Work Letter.

     (a) Delivery of Third Floor Premises. If Landlord does not Deliver the Third Floor Premises
within 60 days of the Target Commencement Date for any reason other than Force Majeure Delays and
Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to the other,
and if so terminated by either: (a) the Security Deposit, or any balance thereof (i.e., after
deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease),
shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights,
duties or obligations under this Lease, except with respect to provisions which expressly survive
termination of this Lease. If neither Landlord nor Tenant elects to void this Lease within 5
business days of the lapse of such 60-day period, such right to void this Lease shall be waived and
this Lease shall remain in full force and effect.

     Except as set forth in the Third Floor Work Letter: (i) Tenant shall accept the Third Floor
Premises in their condition as of the Commencement Date, subject to all applicable Legal
Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for
any defects in the Third Floor Premises; and (iii) Tenant’s taking possession of the Third Floor
Premises shall be conclusive evidence that Tenant accepts the Third Floor Premises and that the
Third Floor Premises were in good condition at the time possession was taken, subject to Landlord’s
completion of the Base Building Work that is applicable to the Third Floor Premises as provided in
Section 2(d). Any occupancy of the Third Floor Premises by Tenant before the Commencement Date
shall be subject to all of the terms and conditions of the Prior Sublease, including the obligation
to pay Rent hereunder.

     (b) Delivery of First Floor Premises. Landlord shall use reasonable efforts to Deliver the
First Floor Premises to Tenant on or before February 1, 2007 (the “First Floor Target Commencement
Date”). The Commencement Date with respect to the First Floor Premises (“First Floor Commencement
Date”) shall be the earliest of (i) the date the Landlord Delivers the First Floor Premises, (ii)
the date Landlord could have Delivered the First Floor Premises but for Tenant Delays; and (iii)
the date that Tenant conducts any business in the First Floor Premises or any part thereof. The
portion of Base Rent and Operating Expenses attributable to the First Floor Premises shall not be
due and payable until the First Floor Commencement Date.

     For the period from the Commencement Date through the First Floor Commencement Date,
notwithstanding anything contained in this Lease, the Sublease or the Overlease, Tenant may
continue to occupy the Second Floor Premises, and use and occupancy thereof by Tenant following the
Commencement Date under this Lease shall be pursuant to the terms and conditions of this Lease,
including without limitation the obligation to pay Base Rent and Additional Rent, except that
Tenant shall pay as Base Rent for the Second Floor Premises $437.50 per month (i.e., $15.00 per
rentable square foot) (the “Second Floor Base Rent”) and Tenant’s Share of Operating Expenses for
the Second Floor Premises shall be 00.43%. Until the First Floor Commencement Date, Tenant shall
continue to have access to the Second Floor Premises from the elevator and stairwell landing on the
second floor, although Landlord may modify, reconfigure and relocate such access from time to time.
Upon the First Floor Commencement Date, Tenant shall surrender and vacate the Second Floor
Premises in accordance with this Lease, including without limitation the requirements of Section
28.

     If Landlord does not Deliver the First Floor Premises on or before the First Floor Target
Commencement Date for any reason, this Lease shall remain in full force and effect and Tenant shall

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 4

have the right continue to occupy the Second Floor Premises as aforesaid until the First Floor
Commencement Date and Landlord shall diligently pursue completion; provided, however, that as
Tenant’s sole and exclusive remedy for such failure to deliver on or before the First Floor Target
Commencement Date, the Second Floor Base Rent shall be abated on a day-for-day basis for each day
between the First Floor Target Commencement Date and the date that Landlord Delivers the First
Floor Premises. Landlord shall have no liability for failure to deliver the First Floor Premises
on or before the First Floor Target Commencement Date provided that Landlord diligently pursues
completion.

     Except as set forth in the First Floor Work Letter: (i) Tenant shall accept the First Floor
Premises in their condition as of the First Floor Commencement Date, subject to all applicable
Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation
for any defects in the First Floor Premises; and (iii) Tenant’s taking possession of the First
Floor Premises shall be conclusive evidence that Tenant accepts the First Floor Premises and that
the First Floor Premises were in good condition at the time possession was taken. Any occupancy of
the First Floor Premises by Tenant before the Commencement Date shall be subject to all of the
terms and conditions of this Lease, including the obligation to pay the Rent attributable to the
First Floor Premises hereunder from and after the First Floor Completion Date.

     (c) Acknowledgment. Upon request of Landlord, Tenant shall execute and deliver a written
acknowledgment of the Commencement Date, the “Rent Commencement Date” and the expiration date of
the Term when such are established in the form of the “Acknowledgement of Commencement Date”
attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute
and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this
Lease shall be the Base Term, as defined above in the Basic Lease Provisions and any Extension Term
which Tenant may elect pursuant to Section 40 hereof.

     Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any
representation or warranty with respect to the condition of all or any portion of the Premises or
the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s
business, and Tenant waives any implied warranty that the Premises or the Project are suitable for
the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with
respect to the subject matter hereof and supersedes any and all prior representations, inducements,
promises, agreements, understandings and negotiations which are not contained herein. Landlord in
executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments
and agreements contained herein.

     (d) Base Building Work. Prior to November 1, 2006 (the “Base Building Work Target Completion
Date”), Landlord shall use reasonable efforts to substantially complete the base building work
described on Exhibit G attached hereto (“Landlord’s Base Building Work”), subject to Force Majeure
Delays, delays that may be caused by actions of third parties other than other tenants of the
Project and Tenant Delays, if any, which Base Building Work Target Completion Date may be extended
by Landlord for up to 60 days provided that Landlord continues diligently to pursue completion of
Landlord’s Base Building Work. Landlord’s proposed schedule for Landlord’s Base Building Work is
set forth in the Proposed Work Schedule included in Exhibit G; it being understood that such
Proposed Work Schedule is furnished for information purposes only and, subject to the provisions of
this Section 2(d) pertaining to the Base Building Work Target Completion Date, may change at
Landlord’s sole discretion.

     (e) Vending/Conference Work. Prior to February 1, 2007 (the “Vending/Conference Work Target
Completion Date”), Landlord shall use reasonable efforts to complete the build-out of the First
Floor Vending Area and First Floor Conference Room pursuant to plans and specifications approved by
Landlord therefor in locations on the First Floor to be determined by Landlord (the
“Vending/Conference Work”), subject to Force Majeure Delays, delays that may be caused by actions
of third parties other than other tenants of the Project and Tenant Delays, if any, which
Vending/Conference Work Target Completion Date may be extended by Landlord for up to 60 days
provided that Landlord continues diligently to pursue completion of the Vending/Conference Work.
The First Floor Conference Room shall

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 5

have seating for at least 40 people, a ceiling-mounted projector and mechanical screen, which
equipment shall be subject to the License Agreement attached as Exhibit I.

     3. Rent.

     (a) Base Rent. The first month’s Base Rent and the Security Deposit shall be due and payable
on delivery of an executed copy of this Lease to Landlord. Tenant shall pay to Landlord in
advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or
before the first day of each calendar month during the Term hereof after the Rent Commencement
Date, in lawful money of the United States of America, at the office of Landlord for payment of
Rent set forth above, or to such other person or at such other place as Landlord may from time to
time designate in writing. Payments of Base Rent for any fractional calendar month shall be
prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations
of Landlord under this Lease are independent obligations. Tenant shall have no right at any time
to abate, reduce, or set-off any Rent (as defined in Section 5) due hereunder except for
any abatement as may be expressly provided in this Lease.

     (b) Additional Rent. In addition to Base Rent, Tenant agrees to pay to Landlord as additional
rent (“Additional Rent”): (i) Tenant’s Share of “Operating Expenses” (as defined in Section
5), and (ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of
this Lease, including, without limitation, any and all other sums that may become due by reason of
any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of
this Lease to be performed by Tenant, after any applicable notice and cure period.

     4. Base Rent Adjustments. Base Rent shall be increased on each annual anniversary of the
first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by
multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment
Percentage and adding the resulting amount to the Base Rent payable immediately before such
Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent
adjustments for any fractional calendar month shall be prorated.

     5. Operating Expense Payments. Landlord shall deliver to Tenant a written estimate of
Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be
revised by Landlord from time to time during such calendar year. During each month of the Term, on
the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th
of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be
prorated.

     The term “Operating Expenses” means all costs and expenses of any kind or description
whatsoever incurred or accrued each calendar year by Landlord with respect to the operation,
cleaning, repair, maintenance and management of the Project (including, without duplication, Taxes
(as defined in Section 9), the costs of providing the receptionist as provided in
Section 11 and maintenance, repairs and operation of the Shared Areas and other Common
Areas as provided in Section 13, capital repairs and improvements made by Landlord in order
to (i) reduce Operating Expenses, (ii) comply with changes in Legal Requirements of first
application to the Project after the date hereof, or (iii) repair or replace failing or failed HVAC
equipment serving the Premises or portion of the Project of which the Premises is a part, in each
case amortized over the lesser of 7 years and the useful life of such capital items (it being
understood that the costs of Landlord’s Work is excluded from Operating Expenses), and the costs of
Landlord’s third party property manager up to 4.0% of Base Rent or, if there is no third party
property manager, administration rent in the amount of 4.0% of Base Rent), excluding only:

     (a) the original construction costs of the Project and renovation prior to the date of the
Lease and costs of correcting defects in such original construction or renovation;

     (b) capital expenditures for expansion of the Project or for purposes other than those
expressly set forth in this Lease;

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 6

     (c) interest, principal payments of Mortgage (as defined in Section 27) debts of
Landlord, financing costs and amortization of funds borrowed by Landlord, whether secured or
unsecured and all payments of base rent (but not taxes or operating expenses) under any ground
lease or other underlying lease of all or any portion of the Project;

     (d) depreciation of the Project (except for capital improvements, the cost of which are
includable in Operating Expenses);

     (e) advertising, legal and space planning expenses and leasing commissions and other costs and
expenses incurred in procuring and leasing space to tenants for the Project, including any leasing
office maintained in the Project, free rent and construction allowances for tenants;

     (f) legal and other expenses incurred in the negotiation or enforcement of leases;

     (g) completing, fixturing, improving, renovating, painting, redecorating or other work, which
Landlord pays for or performs for other tenants within their premises, and costs of correcting
defects in such work;

     (h) costs of utilities outside normal business hours sold to tenants of the Project;

     (i) costs to be reimbursed by other tenants of the Project or Taxes to be paid directly by
Tenant or other tenants of the Project, whether or not actually paid;

     (j) salaries, wages, benefits and other compensation paid to officers and employees of
Landlord who are not assigned in whole or in part to, or do not perform services or job functions
in connection with, the operation, management, maintenance or repair of the Project;

     (k) general organizational, administrative and overhead costs other than as expressly provided
in this Lease, including any management or administrative fee and any administrative costs relating
to maintaining Landlord’s existence, either as a corporation, partnership, or other entity,
including general corporate, legal and accounting expenses;

     (l) costs (including attorneys’ fees and costs of settlement, judgments and payments in lieu
thereof) incurred in connection with disputes with tenants, other occupants, or prospective
tenants, and costs and expenses, including legal fees, incurred in connection with negotiations or
disputes with employees, consultants, management agents, leasing agents, purchasers or mortgagees
of the Building;

     (m) costs incurred by Landlord due to the violation by Landlord, its employees, agents or
contractors or any tenant of the terms and conditions of any lease of space in the Project or any
Legal Requirement (as defined in Section 7);

     (n) penalties, fines or interest incurred as a result of Landlord’s inability or failure to
make payment of Taxes and/or to file any tax or informational returns when due, or from Landlord«’s
failure to make any payment of Taxes required to be made by Landlord hereunder before delinquency;

     (o) overhead and profit increment paid to Landlord or to subsidiaries or affiliates of
Landlord for goods and/or services in or to the Project to the extent the same exceeds the costs of
such goods and/or services rendered by unaffiliated third parties on a competitive basis;

     (p) costs of Landlord’s charitable or political contributions, or of fine art maintained at
the Project;

     (q) costs in connection with services (including electricity), items or other benefits of a
type which are not standard for the Project and which are not available to Tenant without specific
charges

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 7

therefor, but which are provided to another tenant or occupant of the Project, whether or not
such other tenant or occupant is specifically charged therefor by Landlord;

     (r) costs incurred in the sale or refinancing of the Project;

     (s) net income taxes of Landlord or the owner of any interest in the Project, franchise,
capital stock, gift, estate or inheritance taxes or any federal, state or local documentary taxes
imposed against the Project or any portion thereof or interest therein; and

     (t) any expenses otherwise includable within Operating Expenses to the extent actually
reimbursed by tenants of the Project under leases for space in the Project or persons other than
such tenants of the Project.

     Within 120 days after the end of each calendar year, Landlord shall furnish to Tenant a
statement (an “Annual Statement”) showing in reasonable detail: (a) the total and Tenant’s Share
of actual Operating Expenses for the previous calendar year, and (b) the total of Tenant’s payments
in respect of Operating Expenses for such year. If Tenant’s Share of actual Operating Expenses for
such year exceeds Tenant’s payments of Operating Expenses for such year, the excess shall be due
and payable by Tenant as Rent within 30 days after delivery of such Annual Statement to Tenant. If
Tenant’s payments of Operating Expenses for such year exceed Tenant’s Share of actual Operating
Expenses for such year Landlord shall pay the excess to Tenant within 30 days after delivery of
such Annual Statement, except that after the expiration, or earlier termination of the Term or if
Tenant is delinquent in its obligation to pay Rent, Landlord shall pay the excess to Tenant after
deducting all other amounts due Landlord.

     The Annual Statement shall be final and binding upon Tenant unless Tenant, within 60 days
after Tenant’s receipt thereof, shall contest any item therein by giving written notice to
Landlord, specifying each item contested and the reason therefor. If, during such 60-day period,
Tenant reasonably and in good faith questions or contests the accuracy of Landlord’s statement of
Tenant’s Share of Operating Expenses, Landlord will provide Tenant with access to Landlord’s books
and records relating to the operation of the Project and such information as Landlord reasonably
determines to be responsive to Tenant’s questions (the “Expense Information”). If after Tenant’s
review of such Expense Information, Landlord and Tenant cannot agree upon the amount of Tenant’s
Share of Operating Expenses, then Tenant shall have the right to have an independent public
accounting firm selected by Tenant from among the 5 largest in the United States or the reputable
independent public accounting firms in the New England region, working pursuant to a fee
arrangement other than a contingent fee (at Tenant’s sole cost and expense) and approved by
Landlord (which approval shall not be unreasonably withheld or delayed), audit and/or review the
Expense Information for the year in question (the “Independent Review”). The results of any such
Independent Review shall be binding on Landlord and Tenant. If the Independent Review shows that
the payments actually made by Tenant with respect to Operating Expenses for the calendar year in
question exceeded Tenant’s Share of Operating Expenses for such calendar year, Landlord shall at
Landlord’s option either (i) credit the excess amount, plus interest at the rate of 12% per annum
from the date of the receipt by Tenant of the Annual Statement to the date of such credit, to the
next succeeding installments of estimated Operating Expenses or (ii) pay the excess, plus interest
at the rate of 12% per annum from the date of the receipt by Tenant of the Annual Statement to the
date of such payment, to Tenant within 30 days after delivery of such statement, except that after
the expiration or earlier termination of this Lease or if Tenant is delinquent in its obligation to
pay Rent, Landlord shall pay the excess, plus such interest, to Tenant after deducting all other
amounts due Landlord. If the Independent Review shows that Tenant’s payments with respect to
Operating Expenses for such calendar year were less than Tenant’s Share of Operating Expenses for
the calendar year, Tenant shall pay the deficiency to Landlord within 30 days after delivery of
such statement. If the Independent Review shows that Tenant has overpaid with respect to Operating
Expenses by more than 5% then Landlord shall reimburse Tenant for all costs incurred by Tenant for
the Independent Review. Operating Expenses for the calendar years in which Tenant’s obligation to share therein begins and ends shall be
prorated. Notwithstanding anything set forth herein to the contrary, if the Project is not at
least 95% occupied on

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 8

average during any year of the Term, items of Operating Expenses that vary according to
levels of occupancy shall be reasonably extrapolated by Landlord to the amount that would be
incurred in the event the Project had been 95% occupied on average during such year.

     “Tenant’s Share” shall be the percentage set forth in the Basic Lease Provisions as Tenant’s
Share as reasonably adjusted by Landlord for changes in the physical size of the Premises or the
Project occurring thereafter. Landlord may equitably increase Tenant’s Share for any item of
expense or cost reimbursable by Tenant that relates to a repair, replacement, or service that
benefits only the Premises or only a portion of the Project that includes the Premises or that
varies with occupancy or use. Base Rent, Tenant’s Share of Operating Expenses and all other
amounts payable by Tenant to Landlord hereunder are collectively referred to herein as “Rent.”

     6. Security Deposit. Tenant shall deposit with Landlord, upon delivery of an executed copy of
this Lease to Landlord, a security deposit (the “Security Deposit”) for the performance of all of
Tenant’s obligations hereunder in the amount set forth in the Basic Lease Provisions, which
Security Deposit shall be in the form of an unconditional and irrevocable letter of credit (the
“Letter of Credit”): (i) in form and substance satisfactory to Landlord, (ii) naming Landlord as
beneficiary, (iii) expressly allowing Landlord to draw upon it at any time from time to time by
delivering to the issuer notice that Landlord is entitled to draw thereunder, (iv) issued by an
FDIC-insured financial institution satisfactory to Landlord, and (v) redeemable by presentation of
a sight draft in Massachusetts or California. If Tenant does not provide Landlord with a
substitute Letter of Credit complying with all of the requirements hereof at least 10 days before
the stated expiration date of any then current Letter of Credit, Landlord shall have the right to
draw the full amount of the current Letter of Credit and hold the funds drawn in cash without
obligation for interest thereon as the Security Deposit. The Security Deposit shall be held by
Landlord as security for the performance of Tenant’s obligations under this Lease. The Security
Deposit is not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s
default. Upon each occurrence of a Default (as defined in Section 20), Landlord may use
all or any part of the Security Deposit to pay delinquent payments due under this Lease, and the
cost of any damage, injury, expense or liability caused by such Default, without prejudice to any
other remedy provided herein or provided by law. Upon any such use of all or any portion of the
Security Deposit, Tenant shall cause to be issued to Landlord on demand a replacement Letter of
Credit to restore the Security Deposit to the amount set forth in the Basic Lease Provisions.
Tenant hereby waives the provisions of any law, now or hereafter in force, which provide that
Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults
in the payment of Rent, to repair damage caused by Tenant or to clean the Premises, it being agreed
that Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord for
any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Tenant or
any officer, employee, agent or invitee of Tenant. Upon bankruptcy or other debtor-creditor
proceedings against Tenant, the Security Deposit shall be deemed to be applied first to the payment
of Rent and other charges due Landlord for periods prior to the filing of such proceedings. Upon
any such use of all or any portion of the Security Deposit, Tenant shall, within 5 days after
demand from Landlord, restore the Security Deposit to its original amount. If Tenant shall fully
perform every provision of this Lease to be performed by Tenant, the Security Deposit, or any
balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under
the provisions of this Lease), shall be returned to Tenant (or, at Landlord’s option, to the last
assignee of Tenant’s interest hereunder) within 60 days after the expiration or earlier termination
of this Lease.

     If Landlord transfers its interest in the Project or this Lease, Landlord shall either (a)
transfer any Security Deposit then held by Landlord to a person or entity assuming Landlord’s
obligations under this Section 6, or (b) return to Tenant any Security Deposit then held by
Landlord and remaining after the deductions permitted herein. Upon such transfer to such transferee or the return of the
Security Deposit to Tenant, Landlord shall have no further obligation with respect to the Security
Deposit, and Tenant’s right to the return of the Security Deposit shall apply solely against
Landlord’s transferee. The Security Deposit is not an advance rental deposit or a measure of
Landlord’s damages in case of Tenant’s default. Landlord’s obligation respecting the Security
Deposit is that of a debtor, not a trustee, and no interest shall accrue thereon.

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     7. Use. The Premises shall be used solely for the Permitted Use set forth in the Basic Lease
Provisions, and in compliance with all laws, orders, judgments, ordinances, regulations, codes,
directives, permits, licenses, covenants and restrictions now or hereafter applicable to the
Premises, and to the use and occupancy thereof, including, without limitation, the Americans With
Disabilities Act, 42 U.S.C. § 12101, et seq. (together with the regulations promulgated pursuant
thereto, “ADA”) (collectively, “Legal Requirements” and each, a “Legal Requirement”). Tenant
shall, upon 5 days’ written notice from Landlord, discontinue any use of the Premises which is
declared by any Governmental Authority (as defined in Section 9) having jurisdiction to be
a violation of a Legal Requirement. Tenant will not use or permit the Premises to be used for any
purpose or in any manner that would void Tenant’s or Landlord’s insurance, increase the insurance
risk, or cause the disallowance of any sprinkler or other credits. Tenant shall not permit any
part of the Premises to be used as a “place of public accommodation”, as defined in the ADA or any
similar legal requirement. Tenant shall reimburse Landlord promptly upon demand for any additional
premium charged for any such insurance policy by reason of Tenant’s failure to comply with the
provisions of this Section or otherwise caused by Tenant’s use and/or occupancy of the Premises.
Tenant will use the Premises in a careful, safe and proper manner and will not commit or permit
waste, overload the floor or structure of the Premises, subject the Premises to use that would
damage the Premises or obstruct or interfere with the rights of Landlord or other tenants or
occupants of the Project, including conducting or giving notice of any auction, liquidation, or
going out of business sale on the Premises, or using or allowing the Premises to be used for any
unlawful purpose. Tenant shall cause any equipment or machinery to be installed in the Premises so
as to reasonably prevent sounds or vibrations from the Premises from extending into Common Areas,
or other space in the Project. Tenant shall not place any machinery or equipment weighing 500
pounds or more in or upon the Premises or transport or move such items through the Common Areas of
the Project or in the Project elevators without the prior written consent of Landlord. Tenant
shall not, without the prior written consent of Landlord, use the Premises in any manner which will
require ventilation, air exchange, heating, gas, steam, electricity or water beyond the existing
capacity of the Project as proportionately allocated to the Premises based upon Tenant’s Share as
usually furnished for the Permitted Use.

     Landlord shall, as an Operating Expense as provided in Section 5 (to the extent such Legal
Requirement is generally applicable to similar buildings in the area in which the Project is
located and arises after the date of Tenant’s occupancy of the Premises), or at Tenant’s expense
(to the extent such Legal Requirement is applicable solely by reason of Tenant’s, as compared to
other tenants of the Project, particular use of the Premises) make any alterations or modifications
to the Common Areas or the exterior of the Building that are required by Legal Requirements,
including the ADA. Tenant, at its sole expense, shall make any alterations or modifications to the
interior of the Premises that are required by Legal Requirements (including, without limitation,
compliance of the Premises with the ADA). Notwithstanding any other provision herein to the
contrary, except to the extent a Legal Requirement is generally applicable to similar buildings in
the area in which the Project is located and arises after the date of Tenant’s occupancy of the
Premises, Tenant shall be responsible for any and all demands, claims, liabilities, losses, costs,
expenses, actions, causes of action, damages or judgments, and all reasonable expenses incurred in
investigating or resisting the same (including, without limitation, reasonable attorneys’ fees,
charges and disbursements and costs of suit) (collectively, “Claims”) arising out of or in
connection with Legal Requirements arising after the date of Tenant’s occupancy of the Premises or
from Tenant’s particular use of the Premises, and Tenant shall indemnify, defend, hold and save
Landlord harmless from and against any and all Claims arising out of or in connection with any
failure of the Premises to comply with any such Legal Requirement.

     8. Holding Over. If, with Landlord’s express written consent, Tenant retains possession of
the Premises after the termination of the Term, (i) unless otherwise agreed in such written
consent, such possession shall be subject to immediate termination by Landlord at any time, (ii) all of the
other terms and provisions of this Lease (including, without limitation, the adjustment of Base
Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any
expansion or renewal option or other similar right or option) during such holdover period, (iii)
Tenant shall continue to pay Base Rent in the amount payable upon the date of the expiration or
earlier termination of this Lease or such other amount as Landlord may indicate, in Landlord’s sole
and absolute discretion, in such written consent, and (iv) all other payments shall continue under
the terms of this Lease. If Tenant remains in possession of the

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Premises after the expiration or earlier termination of the Term without the express written consent of Landlord, (A) Tenant shall
become a tenant at sufferance upon the terms of this Lease except that the monthly rental shall be
equal to 150% of Base Rent in effect during the last 30 days of the Term, and (B) Tenant shall be
responsible for all damages suffered by Landlord resulting from or occasioned by Tenant’s holding
over. Provided that Landlord has notified Tenant that Landlord may incur consequential damages as
a result of Tenant’s holding over, such damages suffered by Landlord shall include without
limitation consequential damages should Tenant retain possession of the Premises more than 30 days
after the expiration or termination of the Term. No holding over by Tenant, whether with or
without consent of Landlord, shall operate to extend this Lease except as otherwise expressly
provided, and this Section 8 shall not be construed as consent for Tenant to retain
possession of the Premises. Acceptance by Landlord of Rent after the expiration of the Term or
earlier termination of this Lease shall not result in a renewal or reinstatement of this Lease.

     9. Taxes. Landlord shall pay, as part of Operating Expenses, all taxes, levies, assessments
and governmental charges of any kind (collectively referred to as “Taxes”) imposed by any federal,
state, regional, municipal, local or other governmental authority or agency, including, without
limitation, quasi-public agencies (collectively, “Governmental Authority”) during the Term,
including, without limitation, all Taxes: (i) imposed on or measured by or based, in whole or in
part, on rent payable to Landlord under this Lease and/or from the rental by Landlord of the
Project or any portion thereof, or (ii) based on the square footage, assessed value or other
measure or evaluation of any kind of the Premises or the Project, or (iii) assessed or imposed by
or on the operation or maintenance of any portion of the Premises or the Project, including
parking, or (iv) assessed or imposed by, or at the direction of, or resulting from statutes or
regulations, or interpretations thereof, promulgated by, any Governmental Authority. Landlord may
contest by appropriate legal proceedings the amount, validity, or application of any Taxes or liens
securing Taxes. Taxes shall not include (i) any net income taxes imposed on Landlord unless such
net income taxes are in substitution for any Taxes payable hereunder or (ii) franchise, capital
stock, gift, estate or inheritance taxes. If any such Tax is levied or assessed directly against
Tenant, then Tenant shall be responsible for and shall pay the same at such times and in such
manner as the taxing authority shall require. Tenant shall pay, prior to delinquency, any and all
Taxes levied or assessed against any personal property or trade fixtures placed by Tenant in the
Premises, whether levied or assessed against Landlord or Tenant, and in the case of those levied
against Landlord, provided that such Taxes levied or assessed against any personal property or
trade fixtures placed by Tenant in the Premises are expressly allocated by the Governmental
Authority to such personal property or trade fixtures of Tenant. If, in the reasonable
determination of Landlord based on information available from the applicable Governmental
Authority, any Taxes on Tenant’s personal property or trade fixtures are levied against Landlord or
Landlord’s property, or if the assessed valuation of the Project is increased by a value
attributable to improvements in or alterations to the Premises, whether owned by Landlord or Tenant
and whether or not affixed to the real property so as to become a part thereof, higher than the
base valuation on which Landlord from time-to-time allocates Taxes to all tenants in the Project,
Landlord shall have the right, but not the obligation, to pay such Taxes. Landlord’s reasonable
determination of any excess assessed valuation shall be binding and conclusive, absent manifest
error. The amount of any such payment by Landlord shall constitute Additional Rent due from Tenant
to Landlord immediately upon demand.

     10. Parking. Subject to all matters of record, Force Majeure, a Taking (as defined in Section
19 below) and the exercise by Landlord of its rights hereunder, Tenant shall have the right, in
common with other tenants of the Project pro rata in accordance with the rentable area of the
Premises and the rentable areas of the Project occupied by such other tenants, to park in those
areas designated for non-reserved parking, subject in each case to Landlord’s rules and
regulations. Landlord may allocate parking spaces among Tenant and other tenants in the Project pro rata as described above if Landlord
determines that such parking facilities are becoming crowded.

     11. Utilities, Services.

     (a) Landlord shall provide, subject to the terms of this Section 11, water,
electricity, heat, light, power, telephone, sewer, and other utilities (including gas and fire
sprinklers to the extent the Project is plumbed for such services), refuse and trash collection and
janitorial services (collectively,

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“Utilities”). Landlord shall pay, as Operating Expenses as provided in Section 5 or subject to Tenant’s reimbursement obligation, for all Utilities used on
the Premises, all maintenance charges for Utilities, and any storm sewer charges or other similar
charges for Utilities imposed by any Governmental Authority or Utility provider, and any taxes,
penalties, surcharges or similar charges thereon. Landlord may cause, at Landlord’s expense, any
Utilities to be separately metered or charged directly to Tenant by the provider. Tenant shall pay
directly to the Utility provider, prior to delinquency, any separately metered Utilities and
services which may be furnished to Tenant or the Premises during the Term. Tenant shall pay, as
part of Operating Expenses, its share of all charges for jointly metered Utilities based upon
consumption, as reasonably determined by Landlord. No interruption or failure of Utilities, from
any cause whatsoever other than Landlord’s willful misconduct, shall result in eviction or
constructive eviction of Tenant, termination of this Lease or the abatement of Rent. Tenant agrees
to limit use of water and sewer with respect to Common Areas to normal restroom use.

     (b) Landlord shall provide the services of a receptionist subject to the terms and conditions
of this Lease on the first floor of the Building between the hours of 9:00 a.m. and 5:00 p.m
Eastern Time (with a lunch break and other reasonable breaks excepted), Monday through Friday,
holidays excepted. The starting and ending times of such receptionist service shall be subject to
change upon notice from Landlord. The receptionist’s duties shall be limited to greeting visitors
and directing them to the First Floor Conference Room or to tenant areas and maintaining the
schedule for use by tenants of the Project of the First Floor Conference Room. The Landlord
reserves the right to implement and modify at any time and from time to time operational rules for
use of the First Floor Conference Room by tenants of the Project. Landlord shall have no liability
in the event that the First Floor Conference Room is not available for use by Tenant at any
specific time, whether scheduled or unscheduled or for brief interruptions in the receptionist
service. All costs associated with such receptionist service and First Floor Conference Room shall
be included as Operating Expenses under this Lease.

     12. Alterations and Tenant’s Property. Any alterations, additions, or improvements made to
the Premises by or on behalf of Tenant, including additional locks or bolts of any kind or nature
upon any doors or windows in the Premises, but excluding installation, removal or realignment of
furniture systems not involving any modifications to the structure or connections (other then by
ordinary plugs or jacks) to Building Systems (as defined in Section 13) (“Alterations”)
shall be subject to Landlord’s prior written consent, which may be given or withheld in Landlord’s
sole discretion if any such Alteration affects the structure or Building Systems, but
which shall otherwise not be unreasonably withheld or delayed. If Landlord approves any
Alterations, Landlord may impose such reasonable conditions on Tenant in connection with the
commencement, performance and completion of such Alterations as Landlord may deem appropriate in
Landlord’s reasonable discretion. Notwithstanding the foregoing, any interior, non-structural
Alterations that (a) cost less than $75,000 in the aggregate, (b) do not affect fire-safety, or
Building Systems, and (c) do not affect any penetrations in or otherwise affect any walls, floors,
roofs or structural elements of the Project, shall not require Landlord’s prior approval if Tenant
delivers notice of such Alterations to Landlord at least 10 days prior to commencing such work.
Any request for approval shall be in writing, delivered not less than 15 business days in advance
of any proposed construction, and accompanied by plans, specifications, bid proposals, work
contracts and such other information concerning the nature and cost of the alterations as may be
reasonably requested by Landlord, including the identities and mailing addresses of all persons
performing work or supplying materials. Landlord’s right to review plans and specifications and to
monitor construction shall be solely for its own benefit, and Landlord shall have no duty to ensure
that such plans and specifications or construction comply with applicable Legal Requirements.
Tenant shall cause, at its sole cost and expense, all Alterations to comply with insurance requirements and with Legal Requirements and shall implement at its sole
cost and expense any alteration or modification required by Legal Requirements as a result of any
Alterations. Tenant shall pay to Landlord, as Additional Rent, on demand an amount equal to all
out-of-pocket costs actually incurred by Landlord or its agents in connection with any plan review,
coordination, scheduling and supervision. Before Tenant begins any Alteration, Landlord may post
on and about the Premises notices of non-responsibility pursuant to applicable law. Tenant shall
reimburse Landlord for, and indemnify and hold Landlord harmless from, any expense incurred by
Landlord by reason of faulty work done by Tenant or its contractors, delays caused by such work, or
inadequate cleanup.

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 12

     Tenant shall furnish reasonable security or make other reasonable arrangements satisfactory to
Landlord to assure payment for the completion of all Alterations work free and clear of liens, and
shall provide (and cause each contractor or subcontractor to provide) certificates of insurance for
workers’ compensation and other coverage in amounts and from an insurance company satisfactory to
Landlord protecting Landlord against liability for personal injury or property damage during
construction. Upon completion of any Alterations, Tenant shall deliver to Landlord: (i) sworn
statements setting forth the names of all contractors and subcontractors who did the work and final
lien waivers from all such contractors and subcontractors; and (ii) “as built” plans for any such
Alteration.

     Other than (i) the items, if any, listed on Exhibit F attached hereto, (ii) any items agreed
by Landlord in writing to be included on Exhibit F in the future, and (iii) any trade fixtures,
machinery, equipment and other personal property not paid for out of the Third Floor TI Fund (as
defined in the Third Floor Work Letter attached hereto as Exhibit C-1) or not installed by Landlord
as part of Landlord’s Work (as defined in the First Floor Work Letter attached hereto as Exhibit
C-2), in each case which may be removed without material damage to the Premises, which damage shall
be repaired (including capping or terminating utility hook-ups behind walls) by Tenant during the
Term (collectively, “Tenant’s Property”), all property of any kind paid for with the Third Floor TI
Fund or installed by Landlord as part of Landlord’s Work under the First Floor Work Letter, all
Alterations, real property fixtures, built-in machinery and equipment, built-in casework and
cabinets and other similar additions and improvements built into the Premises so as to become an
integral part of the Premises such as fume hoods which penetrate the roof or plenum area, built-in
cold rooms, built-in warm rooms, walk-in cold rooms, walk-in warm rooms, deionized water systems,
glass washing equipment, autoclaves, chillers, built-in plumbing, electrical and mechanical
equipment and systems, and any power generator and transfer switch, and including without
limitation the autoclave and cagewasher referenced in Section 5(c) of the Work Letter for Third
Floor Premises attached hereto as Exhibit C-1 (collectively, “Installations”) shall be and shall
remain the property of Landlord during the Term and following the expiration or earlier termination
of the Term, shall not be removed by Tenant at any time during the Term and shall remain upon and
be surrendered with the Premises as a part thereof in accordance with Section 28 following
the expiration or earlier termination of this Lease; provided, however, that
Landlord shall, at the time its approval of such Installation is requested notify Tenant if it has
elected to cause Tenant to remove such Installation upon the expiration or earlier termination of
this Lease. If Landlord so elects, Tenant shall remove such Installation upon the expiration or
earlier termination of this Lease and restore any damage caused by or occasioned as a result of
such removal, including, when removing any of Tenant’s Property which was plumbed, wired or
otherwise connected to any of the Building Systems, capping off all such connections behind the
walls of the Premises and repairing any holes. During any such restoration period, Tenant shall
pay Rent to Landlord as provided herein as if said space were otherwise occupied by Tenant.

     13. Landlord’s Repairs. Landlord, as an Operating Expense (subject to the provisions of
Section 5), shall maintain all of the structural, exterior, parking and other Common Areas of the
Project, including without limitation the Shared Areas (including without limitation the machinery
and equipment located in the glass wash and auto-clave room, and all furniture and fixtures in the
common conference room, HVAC, plumbing, fire sprinklers, elevators and all other building systems
serving the Premises and other portions of the Project (“Building Systems”), in good repair,
reasonable wear and tear and uninsured losses and damages caused by Tenant, or by any of Tenant’s
agents, servants, employees, invitees and contractors (collectively, “Tenant Parties”) excluded.
Landlord, as an Operating Expense, shall maintain those portions of the HVAC system serving the
Premises to comply with ASHRAE standards for office and laboratory occupancy, as applicable,
subject to the terms and conditions of this Lease, reasonable wear and tear and uninsured losses and damages caused by Tenant, or by any
Tenant Parties excluded. Those portions of the HVAC system serving the Premises are included
within the Building Systems hereunder. Losses and damages caused by Tenant or any Tenant Party to
any Building Systems shall be repaired by Landlord, to the extent not covered by insurance, at
Tenant’s sole cost and expense. Landlord reserves the right to stop Building Systems services when
necessary (i) by reason of accident or emergency, or (ii) for planned repairs, alterations or
improvements, which are, in the judgment of Landlord, desirable or necessary to be made, until said
repairs, alterations or improvements shall have been completed. Landlord shall have no
responsibility or liability for failure to supply Building Systems services during any such period
of interruption; provided, however, that Landlord shall, except in

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 13

case of emergency, give Tenant 24 hours advance notice of any planned stoppage of Building Systems services
for routine maintenance, repairs, alterations or improvements. Tenant shall promptly give Landlord
written notice of any repair required by Landlord pursuant to this Section, after which Landlord
shall have a reasonable opportunity to effect such repair. Landlord shall not be liable
for any failure to make any repairs or to perform any maintenance unless such failure shall persist
for an unreasonable time after Tenant’s written notice of the need for such repairs or maintenance.
Tenant waives its rights under any state or local law to terminate this Lease or, except as
expressly provided in Section 31, to make such repairs at Landlord’s expense and agrees that the
parties’ respective rights with respect to such matters shall be solely as set forth herein.
Repairs required as the result of fire, earthquake, flood, vandalism, war, or similar cause of
damage or destruction shall be controlled by Section 18.

     14. Tenant’s Repairs. Subject to Section 13 hereof, Tenant, at its expense, shall
repair, replace and maintain in good condition, subject to reasonable wear and tear and the
provisions of Section 18 regarding damage by fire or other insured casualty, all portions of the
Premises, including, without limitation, entries, doors, ceilings, interior windows, interior
walls, and the interior side of demising walls. Such repair and replacement may include capital
expenditures and repairs whose benefit may extend beyond the Term. Should Tenant fail to make any
such repair or replacement or fail to maintain the Premises, Landlord shall give Tenant notice of
such failure. If Tenant fails to commence cure of such failure within 30 days of Landlord’s notice
(which 30-day period shall run concurrently with any time period for performance under Section 20),
and thereafter diligently prosecute such cure to completion, Landlord may perform such work and
shall be reimbursed by Tenant within 10 days after demand therefor; provided, however, that if such
failure by Tenant creates or could create an emergency, Landlord may immediately commence cure of
such failure and shall thereafter be entitled to recover the costs of such cure from Tenant.
Subject to Sections 17 and 18, Tenant shall bear the full uninsured cost of any
repair or replacement to any part of the Project that results from damage caused by Tenant or any
Tenant Party and any repair that benefits only the Premises.

     15. Mechanic’s Liens. Tenant shall discharge, by bond or otherwise, any mechanic’s lien filed
against the Premises or against the Project for work claimed to have been done for, or materials
claimed to have been furnished to, Tenant within 10 days after written notice thereof, at Tenant’s
sole cost and shall otherwise keep the Premises and the Project free from any liens arising out of
work performed, materials furnished or obligations incurred by Tenant. Should Tenant fail to
discharge any lien described herein, Landlord shall have the right, but not the obligation, to pay
such claim or post a bond or otherwise provide security to eliminate the lien as a claim against
title to the Project and the cost thereof shall be immediately due from Tenant as Additional Rent.
If Tenant shall lease or finance the acquisition of office equipment, furnishings, or other
personal property of a removable nature utilized by Tenant in the operation of Tenant’s business,
Tenant warrants that any Uniform Commercial Code Financing Statement filed as a matter of public
record by any lessor or creditor of Tenant will upon its face or by exhibit thereto indicate that
such Financing Statement is applicable only to removable personal property of Tenant located within
the Premises. In no event shall the address of the Project be furnished on the statement without
qualifying language as to applicability of the lien only to removable personal property, located in
an identified suite held by Tenant.

     16. Indemnification. Tenant hereby indemnifies and agrees to defend, save and hold Landlord
harmless from and against any and all Claims for injury or death to persons or damage to property
occurring within or about the Premises, arising directly or indirectly out of use or occupancy of the Premises or a breach or default by Tenant in the performance of any of its obligations
hereunder, unless caused solely by the willful misconduct or negligence of Landlord. Landlord
shall not be liable to Tenant for, and Tenant assumes all risk of damage to, personal property
(including, without limitation, loss of records kept within the Premises). Tenant further hereby
irrevocably waives any and all Claims for injury to Tenant’s business or loss of income relating to
any such damage or destruction of personal property (including, without limitation, any loss of
records), unless caused by the willful misconduct or negligence of Landlord. Landlord shall not be
liable for any damages arising from any act, omission or neglect of any tenant in the Project or of
any other third party.

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     17. Insurance. Landlord shall maintain all risk property and, if applicable, sprinkler damage
insurance covering the full replacement cost of the Project or such lesser coverage amount as
Landlord may elect provided such coverage amount is not less than the full replacement cost
of the Building and the back-up generator, if any, as may be located outside of the Building.
Landlord shall further procure and maintain commercial general liability insurance with a single
loss limit of not less than $2,000,000 for bodily injury and property damage with respect to the
Project. Landlord may, but is not obligated to, maintain such other insurance and additional
coverages as it may deem necessary, including, but not limited to, flood, environmental hazard and
earthquake, loss or failure of building equipment, errors and omissions, rental loss during the
period of repair or rebuilding, workers’ compensation insurance and fidelity bonds for employees
employed to perform services and insurance for any improvements installed by Tenant or which are in
addition to the standard improvements customarily furnished by Landlord without regard to whether
or not such are made a part of the Project. All such insurance shall be included as part of the
Operating Expenses. The Project may be included in a blanket policy (in which case the cost of
such insurance allocable to the Project will be determined by Landlord based upon the insurer’s
cost calculations). Tenant shall also reimburse Landlord for any increased premiums or additional
insurance which Landlord reasonably deems necessary as a result of Tenant’s use of the Premises.

     Tenant, at its sole cost and expense, shall maintain during the Term: all risk property
insurance with business interruption and extra expense coverage, covering the full replacement cost
of all property and improvements installed or placed in the Premises by Tenant at Tenant’s expense;
workers’ compensation insurance with no less than the minimum limits required by law; employer’s
liability insurance with such limits as required by law; commercial general liability insurance,
with a minimum limit of not less than $2,000,000 per occurrence for bodily injury and property
damage with respect to the Premises. The commercial general liability insurance policy shall name
Landlord, its officers, directors, employees, managers, agents, invitees and contractors
(collectively, “Landlord Parties”), as additional insureds. The commercial general liability
policy shall insure on an occurrence and not a claims-made basis; shall be issued by insurance
companies which have a rating of not less than policyholder rating of A and financial category
rating of at least Class X in “Best’s Insurance Guide”; shall not be cancelable for nonpayment of
premium unless 30 days prior written notice shall have been given to Landlord from the insurer;
contain a hostile fire endorsement and a contractual liability endorsement; and provide primary
coverage to Landlord (any policy issued to Landlord providing duplicate or similar coverage shall
be deemed excess over Tenant’s policies). Copies of such policies (if requested by Landlord), or
certificates of insurance showing the limits of coverage required hereunder and showing Landlord as
an additional insured, along with reasonable evidence of the payment of premiums for the applicable
period, shall be delivered to Landlord by Tenant upon commencement of the Term and upon each
renewal of said insurance. Tenant’s policy may be a “blanket policy” with an aggregate per
location endorsement which specifically provides that the amount of insurance shall not be
prejudiced by other losses covered by the policy. Tenant shall, at least 5 days prior to the
expiration of such policies, furnish Landlord with renewal certificates.

     In each instance where insurance is to name Landlord as an additional insured, Tenant shall
upon written request of Landlord also designate and furnish certificates so evidencing Landlord as
additional insured to: (i) any lender of Landlord holding a security interest in the Project or
any portion thereof, (ii) the landlord under any lease wherein Landlord is tenant of the real
property on which the Project is located, if the interest of Landlord is or shall become that of a
tenant under a ground or other underlying lease rather than that of a fee owner, and/or (iii) any
management company retained by Landlord to manage the Project.

     The property insurance obtained by Landlord and Tenant shall include a waiver of subrogation
by the insurers and all rights based upon an assignment from its insured, against Landlord or
Tenant, and their respective officers, directors, employees, managers, agents, invitees and
contractors (“Related Parties”), in connection with any loss or damage thereby insured against.
Neither party nor its respective Related Parties shall be liable to the other for loss or damage
caused by any risk insured against under property insurance required to be maintained hereunder,
and each party waives any claims against the other party, and its respective Related Parties, for
such loss or damage. The failure of a party to insure its property shall not void this waiver.
Landlord and its respective Related Parties shall not be liable for,

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 15

and Tenant hereby waives all claims against such parties for, business interruption and losses occasioned thereby sustained by
Tenant or any person claiming through Tenant resulting from any accident or occurrence in or upon
the Premises or the Project from any cause whatsoever. If the foregoing waivers shall contravene
any law with respect to exculpatory agreements, the liability of Landlord or Tenant shall be deemed
not released but shall be secondary to the other’s insurer.

     Landlord may require insurance policy limits to be raised to conform with requirements of
Landlord’s lender and/or to bring coverage limits to levels then being generally required of new
tenants within the Project.

     18. Restoration. If, at any time during the Term, the Project or the Premises are damaged or
destroyed by a fire or other insured casualty, Landlord shall notify Tenant within 60 days after
discovery of such damage as to the amount of time Landlord reasonably estimates it will take to
restore the Project or the Premises, as applicable (the “Restoration Period”). If the Restoration
Period is estimated to exceed 12 months (the “Maximum Restoration Period”), either party may elect
to terminate this Lease as of the date that is 75 days after the date of discovery of such damage
or destruction and such election shall be made if at all within 30 days of the date of Landlord’s
notice. Unless either party elects to terminate this Lease within such 30-day period, Landlord
shall, subject to receipt of sufficient insurance proceeds (with any deductible to be treated as a
current Operating Expense), promptly restore the Premises (excluding the improvements installed by
Tenant or by Landlord and paid for by Tenant, subject to delays arising from the collection of
insurance proceeds, from Force Majeure events or as needed to obtain any license, clearance or
other authorization of any kind required to enter into and restore the Premises issued by any
Governmental Authority having jurisdiction over the use, storage, handling, treatment, generation,
release, disposal, removal or remediation of Hazardous Materials (as defined in Section 30)
in, on or about the Premises (collectively referred to herein as “Hazardous Materials Clearances”);
provided, however, that if repair or restoration of the Premises is not
substantially complete as of the end of the Maximum Restoration Period or, if longer, the
Restoration Period, Landlord may, in its sole and absolute discretion, elect not to proceed with
such repair and restoration, or Tenant may by written notice to Landlord delivered within 5
business days of the expiration of the Maximum Restoration Period or, if longer, the Restoration
Period, elect to terminate this Lease, in which event Landlord shall be relieved of its obligation
to make such repairs or restoration, and in either event this Lease shall terminate as of the date
that is 75 days after the later of: (i) discovery of such damage or destruction, or (ii) the date
all required Hazardous Materials Clearances are obtained, but Landlord shall retain any Rent paid
and the right to any Rent payable by Tenant prior to such election by Landlord or Tenant.

     Tenant, at its expense, shall promptly perform, subject to delays arising from the collection
of insurance proceeds, from Force Majeure (as defined in Section 34) events or to obtain
Hazardous Material Clearances, all repairs or restoration not required to be done by Landlord and
shall promptly re-enter the Premises and commence doing business in accordance with this Lease.

     Notwithstanding the foregoing, Landlord or Tenant may terminate this Lease if the Premises are
damaged during the last 1 year of the Term and Landlord reasonably estimates that it will take more
than 2 months to repair such damage, or Landlord may terminate this Lease if insurance proceeds are
not available for such restoration. Rent shall be abated from the date all required Hazardous
Material Clearances are obtained until the Premises are repaired and restored, in the proportion
which the area of the Premises, if any, which is not usable by Tenant bears to the total area of
the Premises, unless Landlord provides Tenant with other space during the period of repair that is
suitable for the temporary conduct of Tenant’s business. Such abatement shall be the sole remedy of Tenant, and except
as provided in this Section 18, Tenant waives any right to terminate the Lease by reason of
damage or casualty loss.

     The provisions of this Lease, including this Section 18, constitute an express
agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all
or any part of the Premises, or any other portion of the Project, and any statute or regulation
which is now or may hereafter

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be in effect shall have no application to this Lease or any damage or destruction to all or any part of the Premises or any other portion of the Project, the parties
hereto expressly agreeing that this Section 18 sets forth their entire understanding and
agreement with respect to such matters.

     19. Condemnation. If the whole or any material part of the Premises or the Project is taken
for any public or quasi-public use under governmental law, ordinance, or regulation, or by right of
eminent domain, or by private purchase in lieu thereof (a “Taking” or “Taken”), and the Taking
would in Landlord’s reasonable judgment either prevent or materially interfere with Tenant’s use of
the Premises or materially interfere with or impair Landlord’s ownership or operation of the
Project, then upon written notice by Landlord this Lease shall terminate and Rent shall be
apportioned as of said date. If part of the Premises shall be Taken, and this Lease is not
terminated as provided above, Landlord shall promptly restore the Premises and the Project as
nearly as is commercially reasonable under the circumstances to their condition prior to such
partial Taking and the rentable square footage of the Building, the rentable square footage of the
Premises, Tenant’s Share of Operating Expenses and the Rent payable hereunder during the unexpired
Term shall be reduced to such extent as may be fair and reasonable under the circumstances. Upon
any such Taking, Landlord shall be entitled to receive the entire price or award from any such
Taking without any payment to Tenant, and Tenant hereby assigns to Landlord Tenant’s interest, if
any, in such award. Tenant shall have the right, to the extent that same shall not diminish
Landlord’s award, to make a separate claim against the condemning authority (but not Landlord) for
such compensation as may be separately awarded or recoverable by Tenant for moving expenses,
damages arising from Tenant’s loss of its interest under this Lease in respect of market conditions
at the time of the Taking, and damage to Tenant’s Personal Property as listed on Exhibit F, as the
same may be amended from time to time pursuant to this Lease, if a separate award for such items is
made to Tenant. Tenant hereby waives any and all rights it might otherwise have pursuant to any
provision of state law to terminate this Lease upon a partial Taking of the Premises or the
Project.

     20. Events of Default. Each of the following events shall be a default (“Default”) by Tenant
under this Lease:

     (a) Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment
hereunder when due; provided, however, that Landlord will give Tenant notice and an opportunity to
cure any failure to pay Rent within 5 business days of any such notice not more than once in any 12
month period and Tenant agrees that such notice shall be in lieu of and not in addition to, or
shall be deemed to be, any notice required by law.

     (b) Insurance. Any insurance required to be maintained by Tenant pursuant to this Lease shall
be canceled or terminated or shall expire or shall be reduced or materially changed, or Landlord
shall receive a notice of nonrenewal of any such insurance and Tenant shall fail to obtain
replacement insurance at least 20 days before the expiration of the current coverage.

     (c) Abandonment. Tenant shall abandon the Premises together with Tenant’s failure to perform
its obligations hereunder, including without limitation the obligation to yield-up and surrender
the Premises in accordance with this Lease, it being understood that the requirements of Section 28
shall apply to any abandonment or vacating of the Premises by Tenant.

     (d) Improper Transfer. Tenant shall assign, sublease or otherwise transfer or attempt to
transfer all or any portion of Tenant’s interest in this Lease or the Premises except as expressly
permitted herein, or Tenant’s interest in this Lease shall be attached, executed upon, or otherwise
judicially seized and such action is not released within 90 days of the action.

     (e) Liens. Tenant shall fail to discharge or otherwise obtain the release of any lien placed
upon the Premises in violation of this Lease within 20 days after notice to Tenant (including
notice from parties other than Landlord) that any such lien is filed against the Premises.

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     (f) Insolvency Events. Tenant or any guarantor or surety of Tenant’s obligations hereunder
shall: (A) make a general assignment for the benefit of creditors; (B) commence any case,
proceeding or other action seeking to have an order for relief entered on its behalf as a debtor or
to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment,
liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver,
trustee, custodian or other similar official for it or for all or of any substantial part of its
property (collectively a “Proceeding for Relief”); (C) become the subject of any Proceeding for
Relief which is not dismissed within 90 days of its filing or entry; or (D) die or suffer a legal
disability (if Tenant, guarantor, or surety is an individual) or be dissolved or otherwise fail to
maintain its legal existence (if Tenant, guarantor or surety is a corporation, partnership or other
entity).

     (g) Estoppel Certificate or Subordination Agreement. Tenant fails to execute any document
required from Tenant under Sections 23 or 27 within 5 days after a second notice
requesting such document.

     (h) Other Defaults. Tenant shall fail to comply with any provision of this Lease other than
those specifically referred to in this Section 20, and, except as otherwise expressly
provided herein, such failure shall continue for a period of 30 days after written notice thereof
from Landlord to Tenant.

Any notice given under Section 20(h) hereof shall: (i) specify the alleged default, (ii)
demand that Tenant cure such default, (iii) be in lieu of, and not in addition to, or shall be
deemed to be, any notice required under any provision of applicable law, and (iv) not be deemed a
forfeiture or a termination of this Lease unless Landlord elects otherwise in such notice;
provided that if the nature of Tenant’s default pursuant to Section 20(h) is such
that it cannot be cured by the payment of money and reasonably requires more than 30 days to cure,
then Tenant shall not be deemed to be in default if Tenant commences such cure within said 30-day
period and thereafter diligently prosecutes the same to completion; provided,
however, that such cure shall be completed no later than 60 days from the date of
Landlord’s notice.

     21. Landlord’s Remedies.

     (a) Payment By Landlord; Interest. Upon a Default by Tenant hereunder, Landlord may, without
waiving or releasing any obligation of Tenant hereunder, make such payment or perform such act.
All sums so paid or incurred by Landlord, together with interest thereon, from the date such sums
were paid or incurred, at the annual rate equal to 12% per annum or the highest rate permitted by
law (the “Default Rate”), whichever is less, shall be payable to Landlord on demand as additional
Rent. Nothing herein shall be construed to create or impose a duty on Landlord to mitigate any
damages resulting from Tenant’s Default hereunder.

     (b) Late Payment Rent. Late payment by Tenant to Landlord of Rent and other sums due will
cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be
extremely difficult and impracticable to ascertain. Such costs include, but are not limited to,
processing and accounting charges and late charges which may be imposed on Landlord under any
Mortgage covering the Premises. Therefore, if any installment of Rent due from Tenant is not
received by Landlord within 5 days after the date such payment is due, Tenant shall pay to Landlord
an additional sum of 5% of the overdue Rent as a late charge. The parties agree that this late
charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late
payment by Tenant. In addition to the late charge, Rent not paid when due shall bear interest at
the Default Rate from the 5th day after the date due until paid.

     (c) Remedies. Upon and during the continuance of a Default, Landlord, at its option, without
further notice or demand to Tenant, shall have in addition to all other rights and remedies
provided in this Lease, at law or in equity, the option to pursue any one or more of the following
remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand
whatsoever. No cure in whole or in part of such Default by Tenant after Landlord has taken any
action beyond giving Tenant notice of such Default to pursue any remedy provided for herein
(including retaining counsel to file an action or

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 18

otherwise pursue any remedies) shall in any way affect Landlord’s right to pursue such remedy or any other remedy provided Landlord herein or under
law or in equity, unless Landlord, in its sole discretion, elects to waive such Default.

     (i) This Lease and the Term and estate hereby granted are subject to the limitation
that whenever a Default shall have happened and be continuing, Landlord shall have the
right, at its election, then or thereafter while any such Default shall continue and
notwithstanding the fact that Landlord may have some other remedy hereunder or at law or in
equity, to give Tenant written notice of Landlord’s intention to terminate this Lease on a
date specified in such notice, which date shall be not less than 5 days after the giving of
such notice, and upon the date so specified, this Lease and the estate hereby granted shall
expire and terminate with the same force and effect as if the date specified in such notice
were the date hereinbefore fixed for the expiration of this Lease, and all right of Tenant
hereunder shall expire and terminate, and Tenant shall be liable as hereinafter in this
Section 21(c) provided. If any such notice is given, Landlord shall have, on such
date so specified, the right of re-entry and possession of the Premises and the right to
remove all persons and property therefrom and to store such property in a warehouse or
elsewhere at the risk and expense, and for the account, of Tenant. Should Landlord elect to
re-enter as herein provided or should Landlord take possession pursuant to legal proceedings
or pursuant to any notice provided for by law, Landlord may from time to time re-let the
Premises or any part thereof for such term or terms and at such rental or rentals and upon
such terms and conditions as Landlord may deem advisable, with the right to make
commercially reasonable alterations in and repairs to the Premises.

     (ii) In the event of any termination of this Lease as in this Section 21
provided or as required or permitted by law or in equity, Tenant shall forthwith quit and
surrender the Premises to Landlord, and Landlord may, without further notice, enter upon,
re-enter, possess and repossess the same by summary proceedings, ejectment or otherwise, and
again have, repossess and enjoy the same as if this Lease had not been made, and in any such
event Tenant and no person claiming through or under Tenant by virtue of any law or an order
of any court shall be entitled to possession or to remain in possession of the Premises.
Landlord, at its option, notwithstanding any other provision of this Lease, shall be
entitled to recover from Tenant, as and for liquidated damages, the sum of;

     (A) all Base Rent, Additional Rent and other amounts payable by Tenant
hereunder then due or accrued and unpaid: and

     (B) the amount equal to the aggregate of all unpaid Base Rent and Additional
Rent which would have been payable if this Lease had not been terminated prior to
the end of the Term then in effect, less the fair market rental value of the
Premises for the same period, with the result discounted to its then present value
in accordance with accepted financial practice using a rate of 5% per annum, for
loss of the bargain; and

     (C) all other damages and expenses (including attorneys’ fees and expenses), if
any, which Landlord shall have sustained by reason of the breach of any provision of
this Lease; less

     (D) the net proceeds of any re-letting actually received by Landlord.

     (iii) Nothing herein contained shall limit or prejudice the right of Landlord, in any
bankruptcy or insolvency proceeding, to prove for and obtain as liquidated damages by reason
of such termination an amount equal to the maximum allowed by any bankruptcy or insolvency
proceedings, or to prove for and obtain as liquidated damages by reason of such termination,
an amount equal to the maximum allowed by any statute or rule of law whether such amount
shall be greater or less than the excess referred to above.

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 19

     (iv) Nothing in this Section 21 shall be deemed to affect the right of either
party to indemnifications pursuant to this Lease.

     (v) If Landlord terminates this Lease upon the occurrence of a Default, Tenant will
quit and surrender the Premises to Landlord or its agents, and Landlord may, without further
notice, enter upon, re-enter and repossess the Premises by summary proceedings, ejectment or
otherwise. The words “enter”, “re-enter”, and “re-entry” are not restricted to their
technical legal meanings.

     (vi) If either party shall be in default in the observance or performance of any
provision of this Lease, and an action shall be brought for the enforcement thereof in which
it shall be determined that such party was in default, the party in default shall pay to the
other all fees, costs and other expenses which may become payable as a result thereof or in
connection therewith, including attorneys’ fees and expenses.

     (vii) If Tenant shall default in the keeping, observance or performance of any
covenant, agreement, term, provision or condition herein contained, Landlord, without
thereby waiving such default, may perform the same for the account and at the expense of
Tenant (a) immediately or at any time thereafter and without notice in the case of emergency
or in case such default will result in a violation of any legal or insurance requirements,
or in the imposition of any lien against all or any portion of the Premises, and (b) in any
other case if such default continues after any applicable cure period provided in
Section 21. All reasonable costs and expenses incurred by Landlord in connection
with any such performance by it for the account of Tenant and also all reasonable costs and
expenses, including attorneys’ fees and disbursements incurred by Landlord in any action or
proceeding (including any summary dispossess proceeding) brought by Landlord to enforce any
obligation of Tenant under this Lease and/or right of Landlord in or to the Premises, shall
be paid by Tenant to Landlord within 10 days after demand.

     (viii) Independent of the exercise of any other remedy of Landlord hereunder or under
applicable law, Landlord may conduct an environmental test of the Premises as generally
described in Section 30(d), at Tenant’s expense.

     (ix) Except as otherwise provided in this Section 21, no right or remedy herein
conferred upon or reserved to Landlord is intended to be exclusive of any other right or
remedy, and every right and remedy shall be cumulative and in addition to any other legal or
equitable right or remedy given hereunder, or now or hereafter existing. No waiver of any
provision of this Lease shall be deemed to have been made unless expressly so made in
writing. Landlord shall be entitled, to the extent permitted by law, to seek injunctive
relief in case of the violation, or attempted or threatened violation, of any provision of
this Lease, or to seek a decree compelling observance or performance of any provision of
this Lease, or to seek any other legal or equitable remedy.

     22. Assignment and Subletting.

     (a) General Prohibition. Without Landlord’s prior written consent subject to and on the
conditions described in this Section 22, Tenant shall not, directly or indirectly,
voluntarily or by operation of law, assign this Lease or sublease the Premises or any part thereof
or mortgage, pledge, or hypothecate its leasehold interest or grant any concession or license within the Premises, and
any attempt to do any of the foregoing shall be void and of no effect.

     (b) Permitted Transfers. If Tenant desires to assign, sublease, hypothecate or otherwise
transfer this Lease or sublet the Premises, then at least 15 business days, but not more than 45
business days, before the date Tenant desires the assignment or sublease to be effective (the
“Assignment Date”), Tenant shall give Landlord a notice (the “Assignment Notice”) containing such
information about the proposed assignee or sublessee, including the proposed use of the Premises
and any Hazardous

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Materials proposed to be used, stored handled, treated, generated in or released
or disposed of from the Premises, the Assignment Date, any relationship between Tenant and the
proposed assignee or sublessee, and all material terms and conditions of the proposed assignment or
sublease, including a copy of any proposed assignment or sublease in its final form, and such other
information as Landlord may deem reasonably necessary or appropriate to its consideration whether
to grant its consent. Landlord may, by giving written notice to Tenant within 10 business days
after receipt of the Assignment Notice: (i) grant such consent, (ii) refuse such consent, in its
reasonable discretion, or (iii) terminate this Lease with respect to the space described in the
Assignment Notice as of the Assignment Date (an “Assignment Termination”); provided that it shall
be reasonable for Landlord to withhold its consent, among other reasons, in any of the following
instances: (i) the business or financial reputation of the proposed assignee or sublessee, or the
business or financial reputation of any of the respective principals or officers thereof, is
objectionable in Landlord’s reasonable judgment, (ii) the proposed assignee or sublessee is engaged
in areas of scientific research or other business concerns that are controversial, in Landlord’s
reasonable judgment, or its proposed use of the Premises will violate any applicable Legal
Requirement, (iii) the proposed assignee or sublessee is at that time an occupant of the Project or
negotiating with Landlord or an affiliate thereof for the lease of other space in the Project, (iv)
the proposed assignee or sublessee does not have a net worth, as of the date of the Transfer, at
least equal to the greater of (A) the net worth of Tenant as of the date of the Lease, and (B) the
net worth of Tenant immediately prior to the Transfer Date, or otherwise lacks the creditworthiness
to support the financial obligations it would incur under the proposed assignment or sublease, (v)
the proposed assignee or sublessee is a governmental agency, (vi) in Landlord’s reasonable
judgment, the use of the Premises by the proposed assignee or sublessee would entail any
alterations that would lessen the value of the leasehold improvements in the Premises, or would
require increased services by Landlord, (vii) Landlord has received from any other landlord to the
proposed assignee or sublessee a negative report concerning such other landlord’s experience with
the proposed assignee or sublessee, (viii) Landlord has experienced previous defaults by or is in
litigation with the proposed assignee or sublessee, (ix) the proposed assignment or sublease will
create a vacancy elsewhere in the Project, or (x) the assignment or sublease is prohibited by
Landlord’s lender. In any event, Landlord shall further have the right to review and approve or
disapprove the proposed form of sublease prior to the effective date of any such subletting.

     If Landlord delivers notice of its election to exercise an Assignment Termination, Tenant
shall have the right to withdraw such Assignment Notice by written notice to Landlord of such
election within 5 business days after Landlord’s notice electing to exercise the Assignment
Termination. If Tenant withdraws such Assignment Notice, this Lease shall continue in full force
and effect. If Tenant does not withdraw such Assignment Notice, this Lease, and the term and
estate herein granted, shall terminate as of the Assignment Date with respect to the space
described in such Assignment Notice. No failure of Landlord to exercise any such option to
terminate this Lease, or to deliver a timely notice in response to the Assignment Notice, shall be
deemed to be Landlord’s consent to the proposed assignment, sublease or other transfer.

     Tenant shall reimburse Landlord for all of Landlord’s reasonable out-of-pocket expenses in
connection with its consideration of any Assignment Notice.

     Notwithstanding the foregoing, Landlord’s consent to an assignment of this Lease or a
subletting of any portion of the Premises to any entity controlling, controlled by or under common
control with Tenant or transactions with an entity into or with which Tenant is merged or
consolidated or to which all or substantially all of Tenant’s assets or ownership interests are
transferred (a “Permitted Assignment”) shall not be required, provided that Landlord shall have the right to approve the form of any such
sublease or assignment.

     (c) Additional Conditions. As a condition to any such assignment or subletting, whether or
not Landlord’s consent is required, Landlord may require:

     (i) that any assignee or subtenant agree, in writing at the time of such assignment or
subletting, that if Landlord gives such party notice that Tenant is in default under this
Lease,

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 21

such party shall thereafter make all payments otherwise due Tenant directly to
Landlord, which payments will be received by Landlord without any liability except to credit
such payment against those due under the Lease, and any such third party shall agree to
attorn to Landlord or its successors and assigns should this Lease be terminated for any
reason; provided, however, in no event shall Landlord or its successors or
assigns be obligated to accept such attornment; and

     (ii) A list of Hazardous Materials, certified by the proposed assignee or sublessee to
be true and correct, which the proposed assignee or sublessee intends to use, store, handle,
treat, generate in or release or dispose of from the Premises, together with copies of all
documents relating to such use, storage, handling, treatment, generation, release or
disposal of Hazardous Materials by the proposed assignee or subtenant in the Premises or on
the Project, prior to the proposed assignment or subletting, including, without limitation:
permits; approvals; reports and correspondence; storage and management plans; plans relating
to the installation of any storage tanks to be installed in or under the Project (provided,
said installation of tanks shall only be permitted after Landlord has given its written
consent to do so, which consent may be withheld in Landlord’s sole and absolute discretion);
and all closure plans or any other documents required by any and all federal, state and
local Governmental Authorities for any storage tanks installed in, on or under the Project
for the closure of any such tanks. Neither Tenant nor any such proposed assignee or
subtenant is required, however, to provide Landlord with any portion(s) of the such
documents containing information of a proprietary nature which, in and of themselves, do not
contain a reference to any Hazardous Materials or hazardous activities.

     (d) No Release of Tenant, Sharing of Excess Rents. Notwithstanding any assignment or
subletting, Tenant and any guarantor or surety of Tenant’s obligations under this Lease shall at
all times remain fully and primarily responsible and liable for the payment of Rent and for
compliance with all of Tenant’s other obligations under this Lease. If the Rent due and payable by
a sublessee or assignee (or a combination of the rental payable under such sublease or assignment
plus any bonus or other consideration therefor or incident thereto in any form) exceeds the rental
payable under this Lease, after deduction of the reasonable out-of-pocket costs incurred with
respect to the transaction, including any brokerage fees, legal expenses, tenant improvements paid
for by Tenant (excluding however, any Rent payable under this Section) (“Excess Rent”), then Tenant
shall be bound and obligated to pay Landlord as Additional Rent hereunder 50% of such Excess Rent
within 10 days following receipt thereof by Tenant. If Tenant shall sublet the Premises or any
part thereof, Tenant hereby immediately and irrevocably assigns to Landlord, as security for
Tenant’s obligations under this Lease, all rent from any such subletting, and Landlord as assignee
and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s application,
may collect such rent and apply it toward Tenant’s obligations under this Lease; except that, until
the occurrence of a Default, Tenant shall have the right to collect such rent.

     (e) No Waiver. The consent by Landlord to an assignment or subletting shall not relieve
Tenant or any assignees of this Lease or any sublessees of the Premises from obtaining the consent
of Landlord to any further assignment or subletting nor shall it release Tenant or any assignee or
sublessee of Tenant from full and primary liability under the Lease. The acceptance of Rent
hereunder, or the acceptance of performance of any other term, covenant, or condition thereof, from
any other person or entity shall not be deemed to be a waiver of any of the provisions of this
Lease or a consent to any subletting, assignment or other transfer of the Premises.

     (f) Prior Conduct of Proposed Transferee. Notwithstanding any other provision of this
Section 22, if (i) the proposed assignee or sublessee of Tenant has been required by any
prior landlord, lender or Governmental Authority to take remedial action in connection with
Hazardous Materials contaminating a property, where the contamination resulted from such party’s
action or use of the property in question, (ii) the proposed assignee or sublessee is subject to an
enforcement order issued by any Governmental Authority in connection with the use, storage,
handling, treatment, generation, release or disposal of Hazardous Materials (including, without
limitation, any order related to the failure to make a required reporting to any Governmental
Authority), or (iii) because of the existence of a pre-existing environmental condition in the
vicinity of or underlying the Project, the risk that Landlord would be targeted as a responsible
party in connection with the remediation of such pre-existing environmental

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condition would be materially increased or exacerbated by the proposed use of Hazardous
Materials by such proposed assignee or sublessee, Landlord shall have the absolute right to refuse
to consent to any assignment or subletting to any such party.

     23. Estoppel Certificate. Each Party shall, within 10 business days of written notice from
Landlord, execute, acknowledge and deliver a statement in writing in any form reasonably requested
by a proposed lender or purchaser, (i) certifying that this Lease is unmodified and in full force
and effect (or, if modified, stating the nature of such modification and certifying that this Lease
as so modified is in full force and effect) and the dates to which the rental and other charges are
paid in advance, if any, (ii) acknowledging that to the best of the certifying party’s knowledge
there are not any uncured defaults on the part of the other party hereunder, or specifying such
defaults if any are claimed, and (iii) setting forth such further information with respect to the
status of this Lease or the Premises as may be reasonably requested thereon. Any such statement
may be relied upon by any prospective purchaser or encumbrancer of all or any portion of the real
property of which the Premises are a part. A party’s failure to deliver such statement within such
time shall, at the option of the requesting party, be conclusive the parties that the Lease is in
full force and effect and without modification except as may be represented by the requesting party
in any certificate prepared by the requesting party and delivered to the other party for execution.

     24. Quiet Enjoyment. So long as Tenant shall perform all of the covenants and agreements
herein required to be performed by Tenant, Tenant shall, subject to the terms of this Lease, at all
times during the Term, have peaceful and quiet enjoyment of the Premises against any person
claiming by, through or under Landlord.

     25. Prorations. All prorations required or permitted to be made hereunder shall be made on
the basis of a 360 day year and 30 day months.

     26. Rules and Regulations. Tenant shall, at all times during the Term and any extension
thereof, comply with all reasonable rules and regulations at any time or from time to time
established by Landlord covering use of the Premises and the Project. The current rules and
regulations are attached hereto as Exhibit E. If there is any conflict between said rules and
regulations and other provisions of this Lease, the terms and provisions of this Lease shall
control. Landlord shall not have any liability or obligation for the breach of any rules or
regulations by other tenants in the Project and shall not enforce such rules and regulations in a
discriminatory manner.

     27. Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and
shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter
created on or against the Project or the Premises, and all amendments, restatements, renewals,
modifications, consolidations, refinancing, assignments and extensions thereof, without the
necessity of any further instrument or act on the part of Tenant; provided, however
that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall
not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder
of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute,
acknowledge and deliver such instruments, confirming such subordination, and such instruments of
attornment as shall be requested by any such Holder, provided any such instruments contain
appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set
forth in Section 24 hereof. For a period of 60 days after the Commencement Date, Landlord
will use commercially reasonable efforts to cause the current holder of any Mortgage on the
Premises to execute and deliver to Tenant, at Tenant’s expense, a subordination, nondisturbance and
attornment agreement in a form reasonably acceptable to such Mortgage holder. Notwithstanding the
foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s
consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such
Mortgage without regard to their respective dates of execution, delivery or recording and in that
event such Holder shall have the same rights with respect to this Lease as though this Lease had
been executed prior to the execution, delivery and recording of such Mortgage and had been assigned
to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of
trust,

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security assignments and any other encumbrances, and any reference to the “Holder” of a
Mortgage shall be deemed to include the beneficiary under a deed of trust.

     28. Surrender. Upon the expiration of the Term or earlier termination of this Lease, Tenant
shall surrender the Premises to Landlord in the same condition as received, subject to any
Alterations or Installations permitted by Landlord to remain in the Premises, free of Hazardous
Materials brought upon, kept, used, stored, handled, treated, generated in, or released or disposed
of from, the Premises by any person other than a Landlord Party (collectively, “Tenant HazMat
Operations”) and released of all Hazardous Materials Clearances, broom clean, ordinary wear and
tear and casualty loss and condemnation covered by Sections 18 and 19 excepted. At
least 3 months prior to the surrender of the Premises, Tenant shall deliver to Landlord a narrative
description of the actions proposed (or required by any Governmental Authority) to be taken by
Tenant in order to surrender the Premises (including any Installations permitted by Landlord to
remain in the Premises) at the expiration or earlier termination of the Term, free from any
residual impact from the Tenant HazMat Operations and otherwise released for unrestricted use and
occupancy (the “Surrender Plan”). Such Surrender Plan shall be accompanied by a current listing of
(i) all Hazardous Materials licenses and permits held by or on behalf of any Tenant Party with
respect to the Premises, and (ii) all Hazardous Materials used, stored, handled, treated,
generated, released or disposed of from the Premises, and shall be subject to the review and
approval of Landlord’s environmental consultant. In connection with the review and approval of the
Surrender Plan, upon the request of Landlord, Tenant shall deliver to Landlord or its consultant
such additional non-proprietary information concerning Tenant HazMat Operations as Landlord shall
request. On or before such surrender, Tenant shall deliver to Landlord evidence that the approved
Surrender Plan shall have been satisfactorily completed and Landlord shall have the right, subject
to reimbursement at Tenant’s expense as set forth below, to cause Landlord’s environmental
consultant to inspect the Premises and perform such additional procedures as may be deemed
reasonably necessary to confirm that the Premises are, as of the effective date of such surrender
or early termination of the Lease, free from any residual impact from Tenant HazMat Operations.
Tenant shall reimburse Landlord, as Additional Rent, for the actual out-of pocket expense incurred
by Landlord for Landlord’s environmental consultant to review and approve the Surrender Plan and to
visit the Premises and verify satisfactory completion of the same, which cost shall not exceed
$1,500. Landlord shall have the unrestricted right to deliver such Surrender Plan and any report
by Landlord’s environmental consultant with respect to the surrender of the Premises to third
parties.

     If Tenant shall fail to prepare or submit a Surrender Plan approved by Landlord, or if Tenant
shall fail to complete the approved Surrender Plan, or if such Surrender Plan, whether or not
approved by Landlord, shall fail to adequately address any residual effect of Tenant HazMat
Operations in, on or about the Premises, Landlord shall have the right to take such actions as
Landlord may deem reasonable or appropriate to assure that the Premises and the Project are
surrendered free from any residual impact from Tenant HazMat Operations, the cost of which actions
shall be reimbursed by Tenant as Additional Rent, without regard to the limitation set forth in the
first paragraph of this Section 28.

     Tenant shall immediately return to Landlord all keys and/or access cards to parking, the
Project, restrooms or all or any portion of the Premises furnished to or otherwise procured by
Tenant. If any such access card or key is lost, Tenant shall pay to Landlord, at Landlord’s
election, either the cost of replacing such lost access card or key or the cost of reprogramming
the access security system in which such access card was used or changing the lock or locks opened
by such lost key. Any Tenant’s Property, Alterations and property not so removed by Tenant as
permitted or required herein shall be deemed abandoned and may be stored, removed, and disposed of
by Landlord at Tenant’s expense, and Tenant waives all claims against Landlord for any damages
resulting from Landlord’s retention and/or disposition of such property. All obligations of Tenant
hereunder not fully performed as of the termination of the Term, including the obligations of
Tenant under Section 30 hereof, shall survive the expiration or earlier termination of the
Term, including, without limitation, indemnity obligations, payment obligations with respect to
Rent and obligations concerning the condition and repair of the Premises.

     29. Waiver of Jury Trial. TENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL BY JURY OR TO HAVE
A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN

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CONTRACT, TORT, OR OTHERWISE,
BETWEEN LANDLORD AND TENANT ARISING OUT OF THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT, OR
AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO.

     30. Environmental Requirements.

     (a) Prohibition/Compliance/Indemnity. Tenant shall not cause or permit any Hazardous
Materials (as hereinafter defined) to be brought upon, kept, used, stored, handled, treated,
generated in or about, or released or disposed of from, the Premises or the Project in violation
of applicable Environmental Requirements (as hereinafter defined) by Tenant or any Tenant Party.
If Tenant breaches the obligation stated in the preceding sentence, or if the presence of Hazardous
Materials in the Premises during the Term or any holding over results in contamination of the
Premises, the Project or any adjacent property or if contamination of the Premises, the Project or
any adjacent property by Hazardous Materials brought into, kept, used, stored, handled, treated,
generated in or about, or released or disposed of from, the Premises by anyone other than Landlord
and Landlord’s employees, agents and contractors otherwise occurs during the Term or any holding
over, Tenant hereby indemnifies and shall defend and hold Landlord, its officers, directors,
employees, agents and contractors harmless from any and all actions (including, without limitation,
remedial or enforcement actions of any kind, administrative or judicial proceedings, and orders or
judgments arising out of or resulting therefrom), costs, claims, damages (including, without
limitation, punitive damages and damages based upon diminution in value of the Premises or the
Project, or the loss of, or restriction on, use of the Premises or any portion of the Project),
expenses (including, without limitation, attorneys’, consultants’ and experts’ fees, court costs
and amounts paid in settlement of any claims or actions), fines, forfeitures or other civil,
administrative or criminal penalties, injunctive or other relief (whether or not based upon
personal injury, property damage, or contamination of, or adverse effects upon, the environment,
water tables or natural resources), liabilities or losses (collectively, “Environmental Claims”)
which arise during or after the Term as a result of such contamination. This indemnification of
Landlord by Tenant includes, without limitation, costs incurred in connection with any
investigation of site conditions or any cleanup, treatment, remedial, removal, or restoration work
required by any federal, state or local Governmental Authority because of Hazardous Materials
present in the air, soil or ground water above, on, or under the Premises. Without limiting the
foregoing, if the presence of any Hazardous Materials on the Premises, the Project or any adjacent
property caused or permitted by Tenant or any Tenant Party results in any contamination of the
Premises, the Project or any adjacent property, Tenant shall promptly take all actions at its sole
expense and in accordance with applicable Environmental Requirements as are necessary to return the
Premises, he Project or any adjacent property to the condition existing prior to the time of such
contamination, provided that Landlord’s approval of such action shall first be obtained, which
approval shall not unreasonably be withheld so long as such actions would not potentially have any
material adverse long-term or short-term effect on the Premises or the Project.

     (b) Business. Landlord acknowledges that it is not the intent of this Section 30 to
prohibit Tenant from using the Premises for the Permitted Use. Tenant may operate its business
according to prudent industry practices so long as the use or presence of Hazardous Materials is
strictly and properly monitored according to all then applicable Environmental Requirements. As a
material inducement to Landlord to allow Tenant to use Hazardous Materials in connection with its
business, Tenant agrees to deliver to Landlord prior to the Commencement Date a list identifying
each type of Hazardous Materials to be brought upon, kept, used, stored, handled, treated,
generated on, or released or disposed of from, the Premises and setting forth any and all
governmental approvals or permits required in connection with the presence, use, storage, handling,
treatment, generation, release or disposal of such Hazardous Materials on or from the Premises
(“Hazardous Materials List”). Tenant shall deliver an updated Hazardous Materials List before any
new Hazardous Material is brought onto, kept, used, stored, handled, treated,
generated on, or released or disposed of from, the Premises. Upon written request from
Landlord, Tenant shall deliver to Landlord an updated Hazardous Materials List, provided that
Landlord will make such request no more than once per year. Tenant shall deliver to Landlord true
and correct copies of the following documents (the “Haz Mat Documents”) relating to the use,
storage, handling, treatment, generation, release or disposal of Hazardous Materials prior to the
Commencement Date, or if unavailable at that time, concurrent with the receipt from or submission
to a Governmental Authority:

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permits; approvals; reports and correspondence; storage and
management plans, notice of violations of any Legal Requirements; plans relating to the
installation of any storage tanks to be installed in or under the Project (provided, said
installation of tanks shall only be permitted after Landlord has given Tenant its written consent
to do so, which consent may be withheld in Landlord’s sole and absolute discretion); all closure
plans or any other documents required by any and all federal, state and local Governmental
Authorities for any storage tanks installed in, on or under the Project for the closure of any such
tanks; and a Surrender Plan (to the extent surrender in accordance with Section 28 cannot
be accomplished in 3 months). Tenant is not required, however, to provide Landlord with any
portion(s) of the Haz Mat Documents containing information of a proprietary nature which, in and of
themselves, do not contain a reference to any Hazardous Materials or hazardous activities. It is
not the intent of this Section to provide Landlord with information which could be detrimental to
Tenant’s business should such information become possessed by Tenant’s competitors.

     (c) Tenant Representation and Warranty. Tenant hereby represents and warrants to Landlord
that (i) to the best of its knowledge, Tenant has not been required by any prior landlord, lender
or Governmental Authority at any time to take remedial action in connection with Hazardous
Materials contaminating a property which contamination was permitted by Tenant or resulted from
Tenant’s action or use of the property in question, and (ii) Tenant is not subject to any
enforcement order issued by any Governmental Authority in connection with the use, storage,
handling, treatment, generation, release or disposal of Hazardous Materials (including, without
limitation, any order related to the failure to make a required reporting to any Governmental
Authority). If Landlord determines that this representation and warranty was not true as of the
date of this lease, Landlord shall have the right to terminate this Lease in Landlord’s sole and
absolute discretion.

     (d) Testing. Provided that Landlord shall give Tenant reasonable prior notice, Landlord shall
have the right during reasonable business hours (or after hours if requested by Tenant), to conduct
annual tests of the Premises to determine whether any contamination of the Premises or the Project
has occurred as a result of Tenant’s use. Such testing shall not materially adversely affect the
use of any portion of the Premises. Tenant shall not be required to pay the cost of such annual
test of the Premises; provided, however, that if Tenant conducts its own tests of the Premises
using third party contractors and test procedures acceptable to Landlord which tests are certified
to Landlord, Landlord shall accept such tests in lieu of the annual tests to be paid for by Tenant.
In addition, at any time, and from time to time, prior to the expiration or earlier termination of
the Term, Landlord shall have the right to conduct appropriate tests of the Premises and the
Project to determine if contamination has occurred as a result of Tenant’s use of the Premises. In
connection with such testing, upon the request of Landlord, Tenant shall deliver to Landlord or its
consultant such non-proprietary information concerning the use of Hazardous Materials in or about
the Premises by Tenant or any Tenant Party. If contamination has occurred for which Tenant is
liable under this Section 30, Tenant shall pay all costs to conduct such tests. If no such
contamination is found, Landlord shall pay the costs of such tests (which shall not constitute an
Operating Expense). Landlord shall provide Tenant with a copy of all third party, non-confidential
reports and tests of the Premises made by or on behalf of Landlord during the Term without
representation or warranty and subject to a confidentiality agreement. Tenant shall, at its sole
cost and expense, promptly and satisfactorily remediate any environmental conditions identified by
such testing in accordance with all Environmental Requirements. Landlord’s receipt of or
satisfaction with any environmental assessment in no way waives any rights which Landlord may have
against Tenant.

     (e) Underground Tanks. If underground or other storage tanks storing Hazardous Materials
located on the Premises or the Project are used by Tenant or are hereafter placed on the Premises
or the Project by Tenant, Tenant shall install, use, monitor, operate, maintain, upgrade and manage
such storage tanks, maintain appropriate records, obtain and maintain appropriate insurance,
implement
reporting procedures, properly close any underground storage tanks, and take or cause to be
taken all other actions necessary or required under applicable state and federal Legal
Requirements, as such now exists or may hereafter be adopted or amended in connection with the
installation, use, maintenance, management, operation, upgrading and closure of such storage tanks.

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     (f) Tenant’s Obligations. Tenant’s obligations under this Section 30 shall survive
the expiration or earlier termination of the Lease. During any period of time after the expiration
or earlier termination of this Lease required by Tenant or Landlord to complete the removal from
the Premises of any Hazardous Materials (including, without limitation, the release and termination
of any licenses or permits restricting the use of the Premises and the completion of the approved
Surrender Plan), Tenant shall continue to pay the full Rent in accordance with this Lease for any
portion of the Premises not relet by Landlord in Landlord’s sole discretion, which Rent shall be
prorated daily.

     (g) Definitions. As used herein, the term “Environmental Requirements” means all applicable
present and future statutes, regulations, ordinances, rules, codes, judgments, orders or other
similar enactments of any Governmental Authority regulating or relating to health, safety, or
environmental conditions on, under, or about the Premises or the Project, or the environment,
including without limitation, the following: the Comprehensive Environmental Response,
Compensation and Liability Act; the Resource Conservation and Recovery Act; and all state and local
counterparts thereto, and any regulations or policies promulgated or issued thereunder. As used
herein, the term “Hazardous Materials” means and includes any substance, material, waste,
pollutant, or contaminant listed or defined as hazardous or toxic, or regulated by reason of its
impact or potential impact on humans, animals and/or the environment under any Environmental
Requirements, asbestos and petroleum, including crude oil or any fraction thereof, natural gas
liquids, liquefied natural gas, or synthetic gas usable for fuel (or mixtures of natural gas and
such synthetic gas). As defined in Environmental Requirements, Tenant is and shall be deemed to be
the “operator” of Tenant’s “facility” and the “owner” of all Hazardous Materials brought on the
Premises by Tenant or any Tenant Party, and the wastes, by-products, or residues generated,
resulting, or produced therefrom.

     31. Tenant’s Remedies/Limitation of Liability. Landlord shall not be in default hereunder
unless Landlord fails to perform any of its obligations hereunder within 30 days after written
notice from Tenant specifying such failure (unless such performance will, due to the nature of the
obligation, require a period of time in excess of 30 days, then after such period of time as is
reasonably necessary). Upon any default by Landlord, Tenant shall give notice by registered or
certified mail to any Holder of a Mortgage covering the Premises and to any landlord of any lease
of property in or on which the Premises are located and Tenant shall offer such Holder and/or
landlord a reasonable opportunity to cure the default, including time to obtain possession of the
Project by power of sale or a judicial action if such should prove necessary to effect a cure;
provided Landlord shall have furnished to Tenant in writing the names and addresses of all
such persons who are to receive such notices. All obligations of Landlord hereunder shall be
construed as covenants, not conditions; and, except as may be otherwise expressly provided in this
Lease, Tenant may not terminate this Lease for breach of Landlord’s obligations hereunder.

     Notwithstanding the foregoing, if any claimed Landlord default hereunder will immediately,
materially and adversely affect Tenant’s ability to conduct its business in the Premises (a
“Material Landlord Default”), Tenant shall, as soon as reasonably possible, but in any event within
2 business days of obtaining knowledge of such claimed Material Landlord Default, give Landlord
written notice of such claim and telephonic notice to Tenant’s principal contact with Landlord.
Landlord shall then have 2 business days to commence cure of such claimed Material Landlord Default
and shall diligently prosecute such cure to completion. If such claimed Material Landlord Default
is not a default by Landlord hereunder, or if Tenant failed to give Landlord the notice required
hereunder within 2 business days of learning of the conditions giving rise to the claimed Material
Landlord Default, Landlord shall be entitled to recover from Tenant, as Additional Rent, any costs
incurred by Landlord in connection with such cure in excess of the costs, if any, that Landlord
would otherwise have been liable to pay hereunder. If Landlord fails to commence cure of any
claimed Material Landlord Default as provided above, Tenant may commence and prosecute such cure to
completion, and shall be entitled to recover the costs of such cure (but not any consequential or
other damages) from Landlord, to the extent of Landlord’s obligation to cure
such claimed Material Landlord Default hereunder, subject to the limitations set forth in the
immediately preceding sentence of this paragraph and the other provisions of this Lease.

     All obligations of Landlord under this Lease will be binding upon Landlord only during the
period of its ownership of the Premises and not thereafter. The term “Landlord” in this Lease
shall mean only

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the owner for the time being of the Premises. Upon the transfer by such owner of
its interest in the Premises, such owner shall thereupon be released and discharged from all
obligations of Landlord thereafter accruing, but such obligations shall be binding during the Term
upon each new owner for the duration of such owner’s ownership.

     32. Inspection and Access. Landlord and its agents, representatives, and contractors may
enter the Premises at any reasonable time to inspect the Premises and to make such repairs as may
be required or permitted pursuant to this Lease and for any other business purpose. Landlord and
Landlord’s representatives may enter the Premises during business hours on not less than 48 hours
advance written notice (except in the case of emergencies in which case no such notice shall be
required and such entry may be at any time) for the purpose of effecting any such repairs,
inspecting the Premises, showing the Premises to prospective purchasers and, during the last year
of the Term, to prospective tenants or for any other business purpose. Landlord may erect a
suitable sign on the Project (outside of the Premises) stating the Premises are available to let or
that the Project is available for sale. Landlord may grant easements, make public dedications,
designate Common Areas and create restrictions on or about the Premises, provided that no
such easement, dedication, designation or restriction materially, adversely affects Tenant’s use or
occupancy of the Premises for the Permitted Use. At Landlord’s request, Tenant shall execute such
instruments as may be necessary for such easements, dedications or restrictions. Tenant shall at
all times, except in the case of emergencies, have the right to escort Landlord or its agents,
representatives, contractors or guests while the same are in the Premises, provided such escort
does not materially and adversely affect Landlord’s access rights hereunder.

     33. Security. Tenant acknowledges and agrees that security devices and services, if any,
while intended to deter crime may not in given instances prevent theft or other criminal acts and
that Landlord is not providing any security services with respect to the Premises. Tenant agrees
that Landlord shall not be liable to Tenant for, and Tenant waives any claim against Landlord with
respect to, any loss by theft or any other damage suffered or incurred by Tenant in connection with
any unauthorized entry into the Premises or any other breach of security with respect to the
Premises. Tenant shall be solely responsible for the personal safety of Tenant’s officers,
employees, agents, contractors, guests and invitees while any such person is in, on or about the
Premises and/or the Project. Tenant shall at Tenant’s cost obtain insurance coverage to the extent
Tenant desires protection against such criminal acts.

     34. Force Majeure. Landlord shall not responsible or liable for delays in the performance of
its obligations hereunder when caused by, related to, or arising out of acts of God, strikes,
lockouts, or other labor disputes, embargoes, quarantines, weather, national, regional, or local
disasters, calamities, or catastrophes, inability to obtain labor or materials (or reasonable
substitutes therefor) at reasonable costs or failure of, or inability to obtain, utilities
necessary for performance, governmental restrictions, orders, limitations, regulations, or
controls, national emergencies, delay in issuance or revocation of permits, enemy or hostile
governmental action, terrorism, insurrection, riots, civil disturbance or commotion, fire or other
casualty, and other causes or events beyond the reasonable control of Landlord (“Force Majeure”).

     35. Brokers, Entire Agreement, Amendment. 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 transaction and that no Broker brought about this transaction, other than Richards Barry
Joyce & Partners and Jones Lang Lasalle/Spaulding and Slye, each of whom will be paid a commission
by Landlord pursuant to a separate agreement. Landlord and Tenant each hereby agree to indemnify
and hold the other harmless from and against any claims by any Broker, other than the brokers, if
any named in this Section 35, claiming a commission or other form of compensation by virtue
of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction.

     36. Limitation on Landlord’s Liability. NOTWITHSTANDING ANYTHING SET FORTH HEREIN OR IN ANY
OTHER AGREEMENT BETWEEN LANDLORD AND TENANT TO THE CONTRARY: (A) LANDLORD SHALL NOT BE LIABLE TO
TENANT OR ANY OTHER PERSON FOR

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(AND TENANT AND EACH SUCH OTHER PERSON ASSUME ALL RISK OF) LOSS,
DAMAGE OR INJURY, WHETHER ACTUAL OR CONSEQUENTIAL TO: TENANT’S PERSONAL PROPERTY OF EVERY KIND AND
DESCRIPTION, INCLUDING, WITHOUT LIMITATION TRADE FIXTURES, EQUIPMENT, INVENTORY, SCIENTIFIC
RESEARCH, SCIENTIFIC EXPERIMENTS, LABORATORY ANIMALS, PRODUCT, SPECIMENS, SAMPLES, AND/OR
SCIENTIFIC, BUSINESS, ACCOUNTING AND OTHER RECORDS OF EVERY KIND AND DESCRIPTION KEPT AT THE
PREMISES AND ANY AND ALL INCOME DERIVED OR DERIVABLE THEREFROM; (B) THERE SHALL BE NO PERSONAL
RECOURSE TO LANDLORD FOR ANY ACT OR OCCURRENCE IN, ON OR ABOUT THE PREMISES OR ARISING IN ANY WAY
UNDER THIS LEASE OR ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT WITH RESPECT TO THE SUBJECT
MATTER HEREOF AND ANY LIABILITY OF LANDLORD HEREUNDER SHALL BE STRICTLY LIMITED SOLELY TO
LANDLORD’S INTEREST IN THE PROJECT OR ANY PROCEEDS FROM SALE OR CONDEMNATION THEREOF AND ANY
INSURANCE PROCEEDS PAYABLE IN RESPECT OF LANDLORD’S INTEREST IN THE PROJECT OR IN CONNECTION WITH
ANY SUCH LOSS; AND (C) IN NO EVENT SHALL ANY PERSONAL LIABILITY BE ASSERTED AGAINST ANY OF
LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS. UNDER NO CIRCUMSTANCES SHALL
LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS BE LIABLE FOR
INJURY TO TENANT’S BUSINESS OR FOR ANY LOSS OF INCOME OR PROFIT THEREFROM.

     37. Severability. If any clause or provision of this Lease is illegal, invalid or
unenforceable under present or future laws, then and in that event, it is the intention of the
parties hereto that the remainder of this Lease shall not be affected thereby. It is also the
intention of the parties to this Lease that in lieu of each clause or provision of this Lease that
is illegal, invalid or unenforceable, there be added, as a part of this Lease, a clause or
provision as similar in effect to such illegal, invalid or unenforceable clause or provision as
shall be legal, valid and enforceable.

     38. Signs; Exterior Appearance. Tenant shall not, without the prior written consent of
Landlord, which may be granted or withheld in Landlord’s sole discretion: (i) attach any awnings,
exterior lights, decorations, balloons, flags, pennants, banners, painting or other projection to
any outside wall of the Project, (ii) use any curtains, blinds, shades or screens other than
Landlord’s standard window coverings, (iii) coat or otherwise sunscreen the interior or exterior of
any windows, (iv) place any bottles, parcels, or other articles on the window sills, (v) place any
equipment, furniture or other items of personal property on any exterior balcony, or (vi) paint,
affix or exhibit on any part of the Premises or the Project any signs, notices, window or door
lettering, placards, decorations, or advertising media of any type which can be viewed from the
exterior of the Premises. Interior signs on doors and the directory tablet shall be inscribed,
painted or affixed for Tenant by Landlord at the sole cost and expense of Tenant, and shall be of a
size, color and type acceptable to Landlord. Nothing may be placed on the exterior of corridor
walls or corridor doors other than Landlord’s standard lettering. The directory tablet shall be
provided exclusively for the display of the name and location of tenants. Subject to applicable
laws and regulations and the ability to obtain permits therefor under applicable law, Landlord
shall install, at Landlord’s expense, its standard building monument sign adjacent to the entry
driveway off Beaver Street. Upon the erection of any such a building monument sign, Landlord shall
list Tenant’s name on the sign, together with names of other tenants of the Project.

     39. Right to Negotiate

     (a) Expansion in the Building. If at any time after the Commencement Date any Available Space
(as defined below) in the Project becomes available for lease, Landlord shall give notice of such
availability to Tenant, including the date of availability of the Available Space and the Rent for
such space which shall be market rent as determined by Landlord. Landlord shall thereafter, for a
period of up to 20 days, negotiate in good faith with Tenant for Tenant’s lease of such space on
such terms as shall be acceptable to Landlord and Tenant (the “Negotiation Right”). For purposes
of this Section 39(a),
“Available Space” shall mean any space on the second floor of the Building in the Project not
previously offered to Tenant and which is not occupied by a tenant or which is occupied by an
existing tenant whose lease is expiring within 6 months or less and such tenant does not wish to
renew (whether or not such

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tenant has a right to renew) its occupancy of such space, it being
understood that the Second Floor Premises shall not be considered Available Space when Tenant
surrenders it but may become Available Space following its occupation by a third-party tenant.

     (b) Amended Lease. If after the expiration of such 20 day period, no lease amendment or lease
agreement for the Available Space has been executed, such Negotiation Right shall be waived and of
no further force or effect with respect to such Available Space at any time during the balance of
the Term, except that during the period of 30 days following the expiration of such 20 day period,
prior to Landlord’s offering the Available Space to a third party on economic terms (including the
base rent, value of any tenant improvements or tenant allowances to be provided by Landlord, free
rent periods and other economic concessions, if any) (collectively, the “New Terms”), the aggregate
value of which New Terms are not at least equal to 90% of the aggregate value of the economic terms
(including the base rent, value of any tenant improvements or tenant allowances to be provided by
Landlord, free rent periods and other economic concessions, if any) offered to Tenant during such
20 day period referred to in Section 39(a), Landlord shall give notice of such New Terms and the
date of availability of the Available Space in writing to Tenant. Landlord shall thereafter, for a
period of up to 7 days, negotiate in good faith with Tenant for Tenant’s lease of such space on the
New Terms and such other terms as shall be acceptable to Landlord and Tenant (the “Repeat
Negotiation Right”). If after the expiration of such 7 day period, no lease amendment or lease
agreement for the Available Space has been executed, such Repeat Negotiation Right and the
Negotiation Right shall be waived and of no further force or effect with respect to such Available
Space at any time during the balance of the Term. Following the expiration of the 30 day period
referred to above in this Section 39(b), Landlord shall be free to lease such Available Space to
any party on any terms.

     (c) Exceptions. Notwithstanding the above, the Negotiation Right shall not be in effect and
may not be exercised by Tenant:

     (i) during any period of time that Tenant is in Default under any provision of the
Lease; or

     (ii) if Tenant has been in Default under any provision of the Lease 3 or more times,
whether or not the Defaults are cured, during the 12 month period prior to the date on which
Tenant seeks to exercise the Expansion Right.

     (d) Termination. The Negotiation Right shall terminate and be of no further force or effect
even after Tenant’s due and timely exercise of the Expansion Right, if, after such exercise, but
prior to the commencement date of the lease of such Available Space, (i) Tenant fails to timely
cure any default by Tenant under the Lease; or (ii) Tenant has Defaulted 3 or more times during the
period from the date of the exercise of the Negotiation Right to the date of the commencement of
the lease of the Available Space, whether or not such Defaults are cured.

     (e) Rights Personal. Negotiation Rights are personal to Tenant and are not assignable without
Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and
apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease.

     (f) No Extensions. The period of time within which any Negotiation Rights may be exercised
shall not be extended or enlarged by reason of Tenant’s inability to exercise the Negotiation
Rights.

     40. Right to Extend Term. Tenant shall have the right to extend the Term of the Lease upon
the following terms and conditions:

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     (a) Extension Right. Tenant shall have one right (the “Extension Right”) to extend the term
of this Lease for five years (the “Extension Term”) on the same terms and conditions as this Lease
(other than Base Rent) by giving Landlord written notice of its election to exercise each Extension
Right at least 12 months prior, and no earlier than 14 months prior, to the expiration of the Base
Term of the Lease.

Upon the commencement of any Extension Term, Base Rent shall be the payable at the greater of (i)
95% of the Market Rate (as defined below), or (ii) the Base Rent rate payable as of the date
immediately preceding the commencement of the Extension Term. Base Rent shall thereafter be
adjusted on each annual anniversary of the commencement of such Extension Term by the Rent
Adjustment Percentage. As used herein, “Market Rate” shall mean the then current market rental
rate as determined by Landlord and agreed to by Tenant, which shall in no event be less than the
Base Rent payable as of the date immediately preceding the commencement of such Extension Term
increased by the Rent Adjustment Percentage multiplied by such Base Rent.

If, on or before the date which is 180 days prior to the expiration of the Base Term of this Lease,
or the expiration of any prior Extension Term, Tenant has not agreed with Landlord’s determination
of the Market Rate and the rent escalations during such subsequent Extension Term after negotiating
in good faith, Tenant may by written notice to Landlord not later than 150 days prior to the
expiration of the Base Term of this Lease, or the expiration of any then effective Extension Term,
elect arbitration as described in Section 40(b) below. If Tenant does not elect such
arbitration, Tenant shall be deemed to have accepted Landlord’s determination of Market Rent.

     (b) Arbitration.

     (i) Within 10 days of Tenant’s notice to Landlord of its election to arbitrate Market
Rate and escalations, each party shall deliver to the other a proposal containing the Market
Rate and escalations that the submitting party believes to be correct (“Extension
Proposal”). If either party fails to timely submit an Extension Proposal, the other party’s
submitted proposal shall determine the Base Rent and escalations for the Extension Term. If
both parties submit Extension Proposals, then Landlord and Tenant shall meet within 7 days
after delivery of the last Extension Proposal and make a good faith attempt to mutually
appoint a single Arbitrator (and defined below) to determine the Market Rate and
escalations. If Landlord and Tenant are unable to agree upon a single Arbitrator, then each
shall, by written notice delivered to the other within 10 days after the meeting, select an
Arbitrator. If either party fails to timely give notice of its selection for an Arbitrator,
the other party’s submitted proposal shall determine the Base Rent for the Extension Term.
The 2 Arbitrators so appointed shall, within 5 business days after their appointment,
appoint a third Arbitrator. If the 2 Arbitrators so selected cannot agree on the selection
of the third Arbitrator within the time above specified, then either party, on behalf of
both parties, may request such appointment of such third Arbitrator by application to any
state court of general jurisdiction in the jurisdiction in which the Premises are located,
upon 10 days prior written notice to the other party of such intent.

     (ii) The decision of the Arbitrator(s) shall be made within 30 days after the
appointment of a single Arbitrator or the third Arbitrator, as applicable. The decision of
the single Arbitrator shall be final and binding upon the parties. The average of the two
closest Arbitrators in a three Arbitrator panel shall be final and binding upon the parties.
Each party shall pay the fees and expenses of the Arbitrator appointed by or on behalf of
such party and the fees and expenses of the third Arbitrator shall be borne equally by both
parties. If the Market Rate and escalations are not determined by the first day of the
Extension Term, then Tenant shall pay Landlord Base Rent in an amount equal to the Base Rent
in effect immediately prior to the Extension Term and increased by the Rent Adjustment
Percentage until such determination is made. After the determination of the Market Rate and
escalations, the parties shall make any
necessary adjustments to such payments made by Tenant. Landlord and Tenant shall then
execute an amendment recognizing the Market Rate and escalations for the Extension Term.

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     (iii) An “Arbitrator” shall be any person appointed by or on behalf of either party or
appointed pursuant to the provisions hereof and: (i) shall be (A) a member of the American
Institute of Real Estate Appraisers with not less than 10 years of experience in the
appraisal of improved office and high tech industrial real estate in the greater Boston
metropolitan area, or (B) a licensed commercial real estate broker with not less than 15
years experience representing landlords and/or tenants in the leasing of high tech or life
sciences space in the greater Boston metropolitan area, (ii) devoting substantially all of
their time to professional appraisal or brokerage work, as applicable, at the time of
appointment and (iii) be in all respects impartial and disinterested.

     (c) Right Assignability. The Extension Right set forth in this Section 40 may be assigned, as
part of an assignment of all of Tenant’s interests in and to this Lease which is a Permitted
Assignment as defined in Section 22(b) or an assignment to which Landlord has given its consent
hereunder.

     (d) Exceptions. Notwithstanding anything set forth above to the contrary, Extension Rights
shall not be in effect and Tenant may not exercise any of the Extension Rights:

     (i) during any period of time that Tenant is in Default under any provision of this
Lease; or

     (ii) if Tenant has been in Default under any provision of this Lease 3 or more times,
whether or not the Defaults are cured, during the 12 month period immediately prior to the
date that Tenant intends to exercise an Extension Right, whether or not the Defaults are
cured.

     (e) No Extensions. The period of time within which any Extension Rights may be exercised
shall not be extended or enlarged by reason of Tenant’s inability to exercise the Extension Rights.

     (f) Termination. The Extension Rights shall terminate and be of no further force or effect
even after Tenant’s due and timely exercise of an Extension Right, if, after such exercise, but
prior to the commencement date of an Extension Term, (i) Tenant fails to timely cure any default by
Tenant under this Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the
date of the exercise of an Extension Right to the date of the commencement of the Extension Term,
whether or not such Defaults are cured.

     41. Early Termination Right. Tenant shall have the right to terminate this Lease prior to the
expiration of the Base Term upon the following terms and conditions:

     (a) Termination Right. Tenant shall have one right (the “Early Termination Right”) to
terminate this Lease effective as of November 30, 2009 (the “Termination Effective Date”), provided
that Tenant gives Landlord written notice of its election to exercise each Early Termination Right
no later than May 15, 2009 and such written notice is accompanied by payment of the amount equal to
12 times the then-current monthly Base Rent and Operating Expenses for the Premises.

     (b) Termination and Surrender Documentation. If the Early Termination Right is timely
exercised by Tenant in accordance with this Lease, the parties shall enter into a customary
Termination and Surrender Agreement that reflects the terms and conditions of this Lease and the
Termination Effective Date.

     (c) Exceptions. Notwithstanding the above, the Early Right shall not be in effect and may not
be exercised by Tenant:

     (i) during any period of time that Tenant is in Default under any provision of the
Lease; or

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     (ii) if Tenant has been in Default under any provision of the Lease 3 or more times,
whether or not the Defaults are cured, during the 12 month period prior to the date on which
Tenant seeks to exercise the Early Termination Right.

     (d) Termination. The Early Termination Right shall terminate and be of no further force or
effect even after Tenant’s due and timely exercise of the Early Termination Right, if, after such
exercise, but prior to the Termination Effective Date, (i) Tenant fails to timely cure any default
by Tenant under the Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the
date of the exercise of the Early Termination Right to the date of the Termination Effective Date,
whether or not such Defaults are cured.

     (e) Rights Personal. The Early Termination Right is personal to Tenant and is not assignable
without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate
and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease.

     (f) No Extensions. The period of time within which the Early Termination Right may be
exercised shall not be extended or enlarged by reason of Tenant’s inability or failure to exercise
the Early Termination Rights.

     42. Miscellaneous.

     (a) Notices. All notices or other communications between the parties shall be in writing and
shall be deemed duly given upon delivery or refusal to accept delivery by the addressee thereof if
delivered in person, or upon actual receipt if delivered by reputable overnight guaranty courier,
addressed and sent to the parties at their addresses set forth above. Landlord and Tenant may from
time to time by written notice to the other designate another address for receipt of future
notices.

     (b) Joint and Several Liability. If and when included within the term “Tenant,” as used in
this instrument, there is more than one person or entity, each shall be jointly and severally
liable for the obligations of Tenant.

     (c) Financial Information. Tenant shall furnish Landlord with true and complete copies of (i)
Tenant’s most recent audited annual financial statements within 120 days of the end of each of
Tenant’s fiscal years during the Term, (ii) Tenant’s most recent unaudited quarterly financial
statements within 45 days of the end of each of Tenant’s first three fiscal quarters of each of
Tenant’s fiscal years during the Term, (iii) at Landlord’s request from time to time, updated
business plans, including cash flow projections and/or pro forma balance sheets and income
statements, all of which shall be treated by Landlord as confidential information belonging to
Tenant, (iv) corporate brochures and/or profiles prepared by Tenant for prospective investors, and
(v) any other financial information or summaries that Tenant typically provides to its lenders or
shareholders.

     (d) Recordation. This Lease shall not be filed by or on behalf of Tenant in any public
record. Upon request of either party, the other party shall execute and deliver a notice of lease
as defined in M.G.L. c.183 § 4, and in such event, upon request of Landlord, Tenant shall, on or
before the expiration or earlier termination of this Lease, execute and deliver to Tenant a notice
of lease termination in recordable form.

     (e) Interpretation. The normal rule of construction to the effect that any ambiguities are to
be resolved against the drafting party shall not be employed in the interpretation of this Lease or
any exhibits or amendments hereto. Words of any gender used in this Lease shall be held and
construed to include any other gender, and words in the singular number shall be held to include
the plural, unless the context otherwise requires. The captions inserted in this Lease are for
convenience only and in no way
define, limit or otherwise describe the scope or intent of this Lease, or any provision
hereof, or in any way affect the interpretation of this Lease.

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     (f) Not Binding Until Executed. The submission by Landlord to Tenant of this Lease shall have
no binding force or effect, shall not constitute an option for the leasing of the Premises, nor
confer any right or impose any obligations upon either party until execution of this Lease by both
parties.

     (g) Limitations on Interest. It is expressly the intent of Landlord and Tenant at all times
to comply with applicable law governing the maximum rate or amount of any interest payable on or in
connection with this Lease. If applicable law is ever judicially interpreted so as to render
usurious any interest called for under this Lease, or contracted for, charged, taken, reserved, or
received with respect to this Lease, then it is Landlord’s and Tenant’s express intent that all
excess amounts theretofore collected by Landlord be credited on the applicable obligation (or, if
the obligation has been or would thereby be paid in full, refunded to Tenant), and the provisions
of this Lease immediately shall be deemed reformed and the amounts thereafter collectible hereunder
reduced, without the necessity of the execution of any new document, so as to comply with the
applicable law, but so as to permit the recovery of the fullest amount otherwise called for
hereunder.

     (h) Choice of Law. Construction and interpretation of this Lease shall be governed by the
internal laws of the state in which the Premises are located, excluding any principles of conflicts
of laws.

     (i) Time. Time is of the essence as to the performance of Tenant’s obligations under this
Lease.

     (j) Incorporation by Reference. All exhibits and addenda attached hereto are hereby
incorporated into this Lease and made a part hereof. If there is any conflict between such
exhibits or addenda and the terms of this Lease, such exhibits or addenda shall control.

     (k) Hazardous Activities. Notwithstanding any other provision of this Lease, Landlord, for
itself and its employees, agents and contractors, reserves the right to refuse to perform any
repairs or services in any portion of the Premises which, pursuant to Tenant’s routine safety
guidelines, practices or custom or prudent industry practices, require any form of protective
clothing or equipment other than safety glasses. In any such case, Tenant shall contract with
parties who are acceptable to Landlord, in Landlord’s reasonable discretion, for all such repairs
and services, and Landlord shall, to the extent required, equitably adjust Tenant’s Share of
Operating Expenses in respect of such repairs or services to reflect that Landlord is not providing
such repairs or services to Tenant.

[ Signatures on next page ]

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 34

     IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease as of the day and year first
above written.

	 	 	 	 	 
	 	TENANT:

ADNEXUS THERAPEUTICS, INC.,

a Delaware corporation, formerly known as Compound
Therapeutics, Inc.

 	 
	 	By:  	/s/ Charles R. Carter
 	 
	 	 	Its: VP Finance and Corp Secretary 	 
	 	 	 	 
	 
	 	LANDLORD:

ARE-MA REGION NO. 9, LLC,

a Delaware limited liability company 

By: ARE-MA REGION NO. 9MM, LLC, 

       a Delaware limited liability company, manager

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

       a Delaware limited partnership, its member

By: ARE-QRS CORP.,

       a Maryland corporation,

       general partner

 	 
	 	By:  	/s/ Jennifer Pappas
 	 
	 	 	Its: VP and Assistant Secretary 	 
	 	 	 	 
	 

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 1

EXHIBIT A TO LEASE

DESCRIPTION OF PREMISES

[plan attached]

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EXHIBIT B TO LEASE

DESCRIPTION OF PROJECT

	 	 	 
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EXHIBIT C-1 TO LEASE

[Tenant Build]

WORK LETTER FOR THIRD FLOOR PREMISES

     THIS WORK LETTER FOR THIRD FLOOR PREMISES dated as of November 14, 2006 (this “Third Floor
Work Letter”) is made and entered into by and between ARE-MA REGION NO. 9, LLC, a Delaware limited
liability company (“Landlord”), and ADNEXUS THERAPEUTICS, INC., a Delaware corporation, formerly
known as Compound Therapeutics, Inc. (“Tenant”), and is attached to and made a part of the Lease
dated as of November 14, 2006 (the “Lease”), by and between Landlord and Tenant. Any initially
capitalized terms used but not defined herein shall have the meanings given them in the Lease.

     1. General Requirements.

     (a) Tenant’s Authorized Representative. Tenant designates Charles Carter (such individual
acting alone, “Tenant’s Representative”) as the only person authorized to act for Tenant pursuant
to this Third Floor Work Letter. Landlord shall not be obligated to respond to or act upon any
request, approval, inquiry or other communication (“Communication”) from or on behalf of Tenant in
connection with this Third Floor Work Letter unless such Communication is in writing from Tenant’s
Representative. Tenant may change either Tenant’s Representative at any time upon not less than 5
business days advance written notice to Landlord. No period set forth herein for any approval of
any matter by Tenant’s Representative shall be extended by reason of any change in Tenant’s
Representative. Neither Tenant nor Tenant’s Representative shall be authorized to direct
Landlord’s contractors in the performance of any work to be performed by or on behalf of Landlord.

     (b) Landlord’s Authorized Representative. Landlord designates Thomas Andrews and Timothy
White (either such individual acting alone, “Landlord’s Representative”) as the only persons
authorized to act for Landlord pursuant to this Third Floor Work Letter. Tenant shall not be
obligated to respond to or act upon any request, approval, inquiry or other Communication from or
on behalf of Landlord in connection with this Third Floor Work Letter unless such Communication is
in writing from Landlord’s Representative. Landlord may change either Landlord’s Representative at
any time upon not less than 5 business days advance written notice to Tenant. No period set forth
herein for any approval of any matter by Landlord’s Representative shall be extended by reason of
any change in Landlord’s Representative. Landlord’s Representative shall be the sole persons
authorized to direct Landlord’s contractors in the performance of any work to be performed by or on
behalf of Landlord.

     (c) Architects, Consultants and Contractors. Landlord and Tenant hereby acknowledge and agree
that The Richmond Group (or such other architect and contractor acceptable to Landlord and Tenant)
shall be the architect (the “TI Architect”) and general contractor for the Third Floor Tenant
Improvements (as defined below) in accordance with separate agreements in form and substance
acceptable to Tenant in its reasonable discretion. Any subcontractors for the Third Floor Tenant
Improvements shall be selected by Tenant, subject to Landlord’s approval, which approval shall not
be unreasonably withheld, conditioned or delayed.

     2. Third Floor Tenant Improvements.

     (a) Third Floor Tenant Improvements Defined. As used herein, “Third Floor Tenant
Improvements” shall mean all improvements to the Third Floor Premises desired by Tenant of a fixed
and permanent nature. Other than funding the Third Floor TI Allowance (as defined below) as
provided herein, Landlord shall not have any obligation whatsoever with respect to the finishing of
the Third Floor Premises for Tenant’s use and occupancy.

     (b) Tenant’s Space Plans. Tenant shall deliver to Landlord schematic drawings and outline
specifications (the “Third Floor TI Design Drawings”) detailing Tenant’s requirements for the Third
Floor

	 	 	 
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Tenant Improvements upon the completion of the Third Floor TI Design Drawings. Not more than
ten 10 business days thereafter, Landlord shall deliver to Tenant the written objections, questions
or comments of Landlord and the TI Architect with regard to the Third Floor TI Design Drawings.
Tenant shall cause the Third Floor TI Design Drawings to be revised to address such written
comments and shall resubmit said drawings to Landlord for approval within 10 business days
thereafter. Such process shall continue until Landlord has approved the Third Floor TI Design
Drawings.

     (c) Working Drawings. Not later than 15 business days following the approval of the
Third Floor TI Design Drawings by Landlord, Tenant shall cause the TI Architect to prepare and
deliver to Landlord for review and comment construction plans, specifications and drawings for the
Third Floor Tenant Improvements (“Third Floor TI Construction Drawings”), which Third Floor TI
Construction Drawings shall be prepared substantially in accordance with the Third Floor TI Design
Drawings. Tenant shall be solely responsible for ensuring that the Third Floor TI Construction
Drawings reflect Tenant’s requirements for the Third Floor Tenant Improvements. Landlord shall
deliver its written comments on the Third Floor TI Construction Drawings to Tenant not later than
10 business days after Landlord’s receipt of the same; provided, however, that Landlord may not
disapprove any matter that is consistent with the Third Floor TI Design Drawings. Tenant and the
TI Architect shall consider all such comments in good faith and shall, within 10 business days
after receipt, notify Landlord how Tenant proposes to respond to such comments. Any disputes in
connection with such comments shall be resolved in accordance with Section 2(d) hereof.
Provided that the design reflected in the Third Floor TI Construction Drawings is consistent with
the Third Floor TI Design Drawings, Landlord shall approve the Third Floor TI Construction Drawings
submitted by Tenant. Once approved by Landlord, subject to the provisions of Section 2(d)
below, Tenant shall not materially modify the Third Floor TI Construction Drawings except as may be
reasonably required in connection with the issuance of the Third Floor TI Permit (as defined in
Section 3(b) below).

     (d) Approval and Completion. Upon any dispute regarding the design of the Third Floor Tenant
Improvements, which is not settled within 10 business days after notice of such dispute is
delivered by one party to the other, Tenant shall make the final decision regarding the design of
the Third Floor Tenant Improvements, provided Tenant acts reasonably and such final decision is
either consistent with or a compromise between Landlord’s and Tenant’s positions with respect to
such dispute, provided further that all costs and expenses resulting from any such decision by
Tenant shall be payable out of the Third Floor TI Fund (as defined in Section 5(d) below).
Any changes to the Third Floor TI Construction Drawings following Landlord’s and Tenant’s approval
of same requested by Tenant shall be processed as provided in Section 4 hereof.

     3. Performance of Tenant’s Work.

     (a) Definition of Tenant’s Work. As used herein, “Tenant’s Work” shall mean the work of
constructing the Third Floor Tenant Improvements.

     (b) Commencement and Permitting of Tenant’s Work. Tenant shall cause The Richmond Group (or
such other contractor acceptable to Landlord and Tenant) commence construction of the Third Floor
Tenant Improvements upon obtaining a building permit (the “Third Floor TI Permit”) authorizing the
construction of the Third Floor Tenant Improvements consistent with the Third Floor TI Construction
Drawings approved by Landlord. The cost of obtaining the Third Floor TI Permit shall be payable
from the Third Floor TI Fund. Landlord shall assist Tenant in obtaining the Third Floor TI Permit.

     (c) Selection of Materials, Etc. Where more than one type of material or structure is
indicated on the Third Floor TI Construction Drawings approved by Tenant and Landlord, the option
will be within Tenant’s reasonable discretion.

     4. Changes. Any changes requested by Tenant to the Third Floor Tenant Improvements after the
delivery and approval by Landlord of the Third Floor TI Design Drawings, shall be requested and

	 	 	 
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instituted in accordance with the provisions of this Section 4 and shall be subject to the
written approval of Landlord, such approval not to be unreasonably withheld, conditioned or
delayed.

     (a) Tenant’s Right to Request Changes. If Tenant shall request changes (“Changes”), Tenant
shall request such Changes by notifying Landlord in writing in substantially the same form as the
AIA standard change order form (a “Change Request”), which Change Request shall detail the nature
and extent of any such Change. Such Change Request must be signed by Tenant’s Representative.
Landlord shall review and approve or disapprove such Change Request within 10 business days
thereafter, provided that Landlord’s approval shall not be unreasonably withheld, conditioned or
delayed.

     (b) Implementation of Changes. If Landlord approves such Change, Tenant may cause the
approved Change to be instituted.

     5. Costs.

     (a) Budget For Third Floor Tenant Improvements. Before the commencement of construction of
the Third Floor Tenant Improvements, Tenant shall obtain a detailed breakdown, by trade, of the
costs incurred or which will be incurred, in connection with the design and construction of
Tenant’s Work (the “Budget”). The Budget shall be based upon the Third Floor TI Construction
Drawings approved by Landlord.

     (b) Third Floor TI Allowance. Landlord shall provide to Tenant a tenant improvement allowance
(“Third Floor TI Allowance”) of $155,000.00. The Third Floor TI Allowance shall be disbursed in
accordance with this Third Floor Work Letter. Tenant shall have no right to the use or benefit
(including any reduction to Base Rent) of any portion of the Tenant Improvement Allowance not
required for the construction of (i) the Third Floor Tenant Improvements described in the Third
Floor TI Construction Drawings approved pursuant to Section 2(d) or (ii) any Changes pursuant to
Section 4.

     (c) Costs Includable in Third Floor TI Fund. The Third Floor TI Fund shall be used solely for
the payment of design and construction costs in connection with the construction of the Third Floor
Tenant Improvements, including, without limitation, the cost of preparing the Third Floor TI Design
Drawings and the Third Floor TI Construction Drawings, all costs set forth in the Budget, including
Landlord’s Administrative Rent, and the cost of Changes (collectively, “Third Floor TI Costs”),
except that a portion of the Third Floor TI Allowance may be used for the purchase and installation
of an autoclave and cagewasher (both of which are to be installed by Tenant in the First Floor
Premises), and up to $62,000 of the Third Floor TI Allowance may be used to pay for cabling and
wiring costs incurred by Tenant with respect to the Third Floor Premises (“Cabling Costs”).
Notwithstanding anything to the contrary contained herein, and except for the portions of the Third
Floor TI Fund that may be used for the autoclave and cagewasher and Cabling Costs as aforesaid, the
Third Floor TI Fund shall not be used to purchase any furniture, personal property or other
non-Building System materials or equipment, including, but not be limited to, biological safety
cabinets and other scientific equipment not incorporated into the Improvements.

     (d) Excess Third Floor TI Costs. It is understood and agreed that Landlord is under no
obligation to bear any portion of the cost of any of the Third Floor Tenant Improvements except to
the extent of the Third Floor TI Allowance. Notwithstanding anything to the contrary set forth in
this Section 5(d), Tenant shall be fully and solely liable for Third Floor TI Costs and the
cost of Minor Variations in excess of the Third Floor TI Allowance. If upon final completion of
the Third Floor Tenant Improvements and the payment of all sums due in connection therewith there
remains any undisbursed Third Floor TI Fund, Tenant shall not be entitled to any such undisbursed amounts, all of which shall be
retained by Landlord.

     (e) Payment for Third Floor TI Costs. Landlord shall pay Third Floor TI Costs once a month
against a draw request in Landlord’s standard form, containing such certifications, lien waivers,
inspection reports and other matters as Landlord may reasonably require, to the extent of
Landlord’s

	 	 	 
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approval thereof for payment, no later than 30 days following receipt of such draw
request. Upon completion of the Third Floor Tenant Improvements, Tenant shall deliver to Landlord:
(i) sworn statements setting forth the names of all contractors and subcontractors who did the
work and final lien waivers from all such contractors and subcontractors; and (ii) “as built” plans
for such Third Floor Tenant Improvements.

     6. Miscellaneous.

     (a) Consents. Whenever consent or approval of either party is required under this Third Floor
Work Letter, that party shall not unreasonably withhold, condition or delay such consent or
approval, except as may be expressly set forth herein to the contrary.

     (b) Modification. No modification, waiver or amendment of this Third Floor Work Letter or of
any of its conditions or provisions shall be binding upon Landlord or Tenant unless in writing
signed by Landlord and Tenant.

     (c) Counterparts. This Third Floor Work Letter may be executed in any number of counterparts
but all counterparts taken together shall constitute a single document.

     (d) Governing Law. This Third Floor Work Letter shall be governed by, construed and enforced
in accordance with the internal laws of the state in which the Premises are located, without regard
to choice of law principles of such State.

     (e) Time of the Essence. Time is of the essence of this Third Floor Work Letter and of each
and all provisions thereof.

     (f) Default. Notwithstanding anything set forth herein or in the Lease to the contrary,
Landlord shall not have any obligation to perform any work hereunder or to fund any portion of the
Third Floor TI Fund during any period Tenant is in Default under the Lease.

     (g) Severability. If any term or provision of this Third Floor Work Letter is declared
invalid or unenforceable, the remainder of this Third Floor Work Letter shall not be affected by
such determination and shall continue to be valid and enforceable.

     (h) Merger. All understandings and agreements, oral or written, heretofore made between the
parties hereto and relating to Tenant’s Work are merged in this Third Floor Work Letter, which
alone (but inclusive of provisions of the Lease incorporated herein and the final approved
constructions drawings and specifications prepared pursuant hereto) fully and completely expresses
the agreement between Landlord and Tenant with regard to the matters set forth in this Third Floor
Work Letter.

     (i) Entire Agreement. This Third Floor Work Letter is made as a part of and pursuant to the
Lease and, together with the Lease, constitutes the entire agreement of the parties with respect to
the subject matter hereof. This Third Floor Work Letter is subject to all of the terms and
limitation set forth in the Lease, and neither party shall have any rights or remedies under this
Third Floor Work Letter separate and apart from their respective remedies pursuant to the Lease.

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     IN WITNESS WHEREOF, Landlord and Tenant have executed this Third Floor Work Letter to be
effective on the date first above written.

	 	 	 	 	 
	 	TENANT:

ADNEXUS THERAPEUTICS, INC.,

a Delaware corporation, formerly known as Compound
Therapeutics, Inc.

 	 
	 	By:  	/s/ Charles R. Carter
 	 
	 	 	Its: VP Finance and Corp Secretary 	 

	 	 	 	 	 
	 	LANDLORD:

ARE-MA REGION NO. 9, LLC,

a Delaware limited liability company 

	 
	 	By:  	ARE-MA REGION NO. 9MM, LLC,
 a Delaware
limited liability company, manager
 	 
	 
	 	By:  	ALEXANDRIA REAL ESTATE EQUITIES, L.P.,

a Delaware limited partnership, its member
 	 
	 
	 	By:  	ARE-QRS CORP.,

a Maryland corporation,

general partner

 	 
	 	By:  	/s/ Jennifer Pappas
 	 
	 	 	Its: VP and Assistant Secretary 	 
	 	 	 	 
	 

	 	 	 
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EXHIBIT C-2 TO LEASE

[Landlord Build]

WORK LETTER FOR FIRST FLOOR PREMISES

     THIS WORK LETTER FOR FIRST FLOOR PREMISES dated as of November 14, 2006 (this “First Floor
Work Letter”) is made and entered into by and between ARE-MA REGION NO. 9, LLC, a Delaware limited
liability company (“Landlord”), and ADNEXUS THERAPEUTICS, INC., a Delaware corporation, formerly
known as Compound Therapeutics, Inc. (“Tenant”), and is attached to and made a part of the Lease
dated as of November 14, 2006 (the “Lease”), by and between Landlord and Tenant. Any initially
capitalized terms used but not defined herein shall have the meanings given them in the Lease.

     1. General Requirements.

     (a) Authorized Representative. Tenant designates Charles Carter (such individual acting
alone, “Tenant’s Representative”) as the only person authorized to act for Tenant pursuant to this
First Floor Work Letter. Landlord shall not be obligated to respond to or act upon any request,
approval, inquiry or other communication (“Communication”) from or on behalf of Tenant in
connection with this First Floor Work Letter unless such Communication is in writing from Tenant’s
Representative. Tenant may change either Tenant’s Representative at any time upon not less than 5
business days advance written notice to Landlord. No period set forth herein for any approval of
any matter by Tenant’s Representative shall be extended by reason of any change in Tenant’s
Representative. Neither Tenant nor Tenant’s Representative shall be authorized to direct
Landlord’s contractors in the performance of Landlord’s Work (as hereinafter defined).

     (b) Landlord’s Authorized Representative. Landlord designates Thomas Andrews and Timothy
White (either such individual acting alone, “Landlord’s Representative”) as the only persons
authorized to act for Landlord pursuant to this First Floor Work Letter. Tenant shall not be
obligated to respond to or act upon any request, approval, inquiry or other Communication from or
on behalf of Landlord in connection with this First Floor Work Letter unless such Communication is
in writing from Landlord’s Representative. Landlord may change either Landlord’s Representative at
any time upon not less than 5 business days advance written notice to Tenant. No period set forth
herein for any approval of any matter by Landlord’s Representative shall be extended by reason of
any change in Landlord’s Representative. Landlord’s Representative shall be the sole persons
authorized to direct Landlord’s contractors in the performance of Landlord’s Work.

     (c) Development Schedule. The schedule for design and development of and the First Floor
Tenant Improvements (as defined below), including without limitation the time periods for delivery
of construction documents and performance, shall be in accordance with the Development Schedule
attached hereto as Schedule A, subject to adjustment as mutually agreed by the parties in
writing or as provided in this First Floor Work Letter (the “Development Schedule”).

     (d) Architects, Consultants and Contractors. Landlord and Tenant hereby acknowledge and agree
that: (i) The Richmond Group shall be the architect (the “TI Architect”) and the general
contractor for the First Floor Tenant Improvements, and (ii) any subcontractors for the First Floor
Tenant Improvements shall be selected by Landlord, subject to Tenant’s approval, which approval
shall not be unreasonably withheld, conditioned or delayed.

     2. First Floor Tenant Improvements.

     (a) First Floor Tenant Improvements Defined. As used herein, “First Floor Tenant
Improvements” shall mean all improvements to the First Floor Premises as set forth on the First
Floor TI Construction Drawings (as defined below) as approved by Tenant pursuant to Section 2(c)
hereof. Other

	 	 	 
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than the First Floor Tenant Improvements, Landlord shall not have any obligation
whatsoever with respect to the finishing of the First Floor Premises for Tenant’s use and
occupancy.

     (b) Tenant’s First Floor Space Plans. The schematic drawings and outline specifications (the
“First Floor TI Design Drawings”) detailing Tenant’s requirements for the First Floor Tenant
Improvements are attached hereto as Schedule B.

     (c) Working Drawings. Not later than 10 business days following the execution and delivery of
the Lease by Landlord and Tenant, Landlord shall cause the TI Architect to prepare and deliver to
Tenant for review and comment construction plans, specifications and drawings for the First Floor
Tenant Improvements (“First Floor TI Construction Drawings”), which First Floor TI Construction
Drawings shall be prepared substantially in accordance with the First Floor TI Design Drawings.
Tenant shall be solely responsible for ensuring that the First Floor TI Construction Drawings
reflect Tenant’s requirements for the First Floor Tenant Improvements. Tenant shall deliver its
written comments on the First Floor TI Construction Drawings to Landlord not later than 10 business
days after Tenant’s receipt of the same; provided, however, that Tenant may not disapprove any
matter that is consistent with the First Floor TI Design Drawings without submitting a Change
Request. Landlord and the TI Architect shall consider all such comments in good faith and shall,
within 10 business days after receipt, notify Tenant how Landlord proposes to respond to such
comments, but Tenant’s review rights pursuant to the foregoing sentence shall not delay the design
or construction schedule for the First Floor Tenant Improvements. Any disputes in connection with
such comments shall be resolved in accordance with Section 2.5 hereof. Provided that the
design reflected in the First Floor TI Construction Drawings is consistent with the First Floor TI
Design Drawings, Tenant shall approve the First Floor TI Construction Drawings submitted by
Landlord, unless Tenant submits a Change Request. Once approved by Tenant, subject to the
provisions of Section 2(e) below, Landlord shall not materially modify the First Floor TI
Construction Drawings except as may be reasonably required in connection with the issuance of the
First Floor TI Permit (as defined in Section 3(b) below).

     (d) Approval and Completion. It is hereby acknowledged by Landlord and Tenant that the First
Floor TI Construction Drawings must be completed and approved not later than September 1, 2006 in
order for the Landlord’s Work to be Substantially Complete by the First Floor Target Commencement
Date. Upon any dispute regarding the design of the First Floor Tenant Improvements, which is not
settled within 5 business days after notice of such dispute is delivered by one party to the other,
Tenant shall make the final decision regarding the design of the First Floor Tenant Improvements,
provided Tenant acts reasonably and such final decision is either consistent with or a compromise
between Landlord’s and Tenant’s positions with respect to such dispute, provided further that all
costs and expenses resulting from any such decision by Tenant shall be payable by Tenant. Any
changes to the First Floor TI Construction Drawings following Landlord’s and Tenant’s approval of
same requested by Tenant shall be processed as provided in Section 4 hereof.

     3. Performance of Landlord’s Work.

     (a) Definition of Landlord’s Work. As used herein, “Landlord’s Work” shall mean the work of
constructing the First Floor Tenant Improvements.

     (b) Commencement and Permitting of Landlord’s Work. Landlord shall commence construction of
First Floor Tenant Improvements upon obtaining a building permit authorizing the construction of
the First Floor Tenant Improvements consistent with the First Floor TI Construction Drawings
approved by Tenant (the “First Floor TI Permit”), which First Floor TI Permit shall be obtained at
Landlord’s expense. Tenant shall assist Landlord in obtaining the First Floor TI Permit. If any
Governmental Authority having jurisdiction over the construction of Landlord’s Work or any portion
thereof shall impose terms or conditions upon the construction thereof which: (i) are inconsistent
with Landlord’s obligations hereunder, (ii) increase the cost of constructing Landlord’s Work, or
(iii) will materially delay the construction of Landlord’s Work, Landlord and Tenant shall
reasonably and in good faith seek means by which to mitigate or eliminate any such adverse terms
and conditions.

	 	 	 
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     (c) Completion of Landlord’s Work. On or before the First Floor Target Commencement Date
(subject to Tenant Delays and Force-Majeure Delays), Landlord shall substantially complete or cause
to be substantially completed Landlord’s Work in a good and workmanlike manner, in accordance with
the First Floor TI Permit subject to Minor Variations and normal “punch list” items of a
non-material nature which do not interfere with the use of the First Floor Premises (“Substantial
Completion”). Upon the Substantial Completion of Landlord’s Work, Landlord shall deliver a
temporary or final certificate of occupancy for the First Floor Premises (which temporary
certificate of occupancy may be subject to Minor Variations and normal “punch list” items of a
non-material nature which do not interfere with the use of the First Floor Premises), and shall
require the TI Architect and the general contractor to execute and deliver, for the benefit of
Tenant and Landlord, a Certificate of Substantial Completion in the form of the American Institute
of Architects document G704. For purposes of this First Floor Work Letter, “Minor Variations”
shall mean any modifications reasonably required: (i) to comply with all applicable Legal
Requirements and/or to obtain or to comply with any required permit (including the First Floor TI
Permit); (ii) to comply with any request by Tenant for modifications to Landlord’s Work; (iii) to
comport with good design, engineering, and construction practices which are not material; or (iv)
to make reasonable adjustments for field deviations or conditions encountered during the
construction of Landlord’s Work.

     (d) Selection of Materials, Etc. Where more than one type of material or structure is
indicated on the First Floor TI Construction Drawings approved by Landlord and Tenant, the option
will be within Landlord’s sole discretion. As to all building materials and equipment which
Landlord is obligated to supply under this First Floor Work Letter, Landlord shall select the
manufacturer thereof in its sole discretion.

     (e) Delivery of the First Floor Premises. When Landlord’s Work is Substantially Complete,
subject to the remaining terms and provisions of this Section 3(e), Tenant shall accept the
First Floor Premises. Tenant’s taking possession and acceptance of the First Floor Premises shall
not constitute a waiver of: (i) any warranty with respect to workmanship (including installation
of equipment) or material (exclusive of equipment provided directly by manufacturers), (ii) any
non-compliance of Landlord’s Work with Code, or (iii) any claim that Landlord’s Work was not
completed substantially in accordance with the First Floor TI Construction Drawings (subject to
Minor Variations and such other changes as are permitted hereunder) (collectively, a “Construction
Defect”). Tenant shall have 1 year after Substantial Completion within which to notify Landlord of
any such Construction Defect discovered by Tenant, and in the event Tenant notifies Landlord of a
Construction Defect, Landlord will use reasonable efforts to remedy, or cause the responsible
contractor or another contractor to remedy, such Construction Defect within a reasonable time
period.

Tenant shall be entitled to receive the benefit of all construction warranties and manufacturer’s
equipment warranties relating to equipment installed in the First Floor Premises as part of
Landlord’s Work. If requested by Tenant, Landlord shall attempt to obtain extended warranties from
manufacturers and suppliers of such equipment, but the cost of any such extended warranties shall
be borne solely by Tenant as Additional Rent under the Lease. Landlord shall diligently pursue any
claims arising out of latent defects in the Landlord’s Work. Landlord shall promptly undertake and
complete, or cause to be completed, all punch list items.

     (f) First Floor Completion Date Delay. The date on which Landlord’s Work has been
Substantially Completed hereunder is referred to as the “First Floor Completion Date”. The
Landlord shall not be liable for any delay with respect to completion of Landlord’s Work to the
extent such delay is actually caused by a Tenant Delay or Force Majeure Delays (as defined below),
and Tenant shall be obligated to begin paying Base Rent and Operating Expenses with respect to the
First Floor Premises under the Lease from and after the First Floor Completion Date, or in the
event of any Tenant Delay, the date that Landlord’s Work would have been completed but for such Tenant Delays, as certified
by the TI Architect. Any of the following causes shall constitute a Tenant Delay hereunder:

     (i) Tenant’s Representative was not available to give or receive any Communication or
to take any other action required to be taken by Tenant hereunder;

	 	 	 
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     (ii) Tenant’s request for Change Requests (as defined in Section 4(a) below)
whether or not any such Change Requests are actually performed;

     (iii) Construction of any Change Requests;

     (iv) Tenant’s request for materials, finishes or installations requiring unusually long
lead times;

     (v) Tenant’s delay in reviewing, revising or approving plans and specifications beyond
the periods set forth herein;

     (vi) Tenant’s delay in providing information critical to the normal progression of the
First Floor Tenant Improvements. Tenant shall provide such information as soon as
reasonably possible, but in no event longer than one week after receipt of any request for
such information from Landlord;

     (vii) Tenant’s delay in making payments to Landlord for Excess First Floor TI Costs (as
defined in Section 5(d) below); or

     (viii) Any other act or omission by Tenant or any Tenant Party, or persons employed by
any of such persons.

If the Completion Date is delayed for any of the foregoing reasons, then Landlord shall cause the
TI Architect to certify the date on which the First Floor Tenant Improvements would have been
completed but for such Tenant Delay and such certified date shall be the First Floor Completion
Date under the Lease.

     4. Changes. Any changes requested by Tenant to the First Floor Tenant Improvements after the
execution of this First Floor Work Letter, which contains the First Floor TI Design Drawings
approved by Tenant, shall be requested and instituted in accordance with the provisions of this
Section 4 and shall be subject to the written approval of Landlord and the TI Architect,
such approval not to be unreasonably withheld, conditioned or delayed.

     (a) Tenant’s Right to Request Changes. If Tenant shall request changes to Landlord’s Work
(“Changes”), Tenant shall request such Changes by notifying Landlord in writing in substantially
the same form as the AIA standard change order form (a “Change Request”), which Change Request
shall detail the nature and extent of any such Change. Such Change Request must be signed by
Tenant’s Representative. Landlord shall, before proceeding with any Change, use its best efforts
to respond to Tenant within 7 business days with an estimate of: (i) the time it will take, and
(ii) the architectural and engineering fees and costs which will be incurred, to analyze such
Change Request (which costs shall be paid by Tenant to the extent actually incurred, whether or not
such change is implemented). Landlord shall thereafter submit to Tenant in writing, within 5
business days of receipt of the Change Request (or such longer period of time as is reasonably
required depending on the extent of the Change Request), an analysis of the additional cost or
savings involved, including, without limitation, architectural and engineering costs and the period
of time, if any, that the Change will extend the date on which Landlord’s Work will be
Substantially Complete. Any such delay in the completion of Landlord’s Work caused by a Change,
including any suspension of Landlord’s Work while any such Change is being evaluated and/or
designed, shall be a Tenant Delay.

     (b) Implementation of Changes. If Tenant: (i) approves in writing the cost or savings and
the estimated extension in the time for completion of Landlord’s Work, if any, and (ii) deposits
with Landlord any Excess First Floor TI Costs required in connection with such Change, Landlord
shall cause the approved Change to be instituted. Notwithstanding any approval or disapproval by
Tenant of any estimate of the delay caused by such proposed Change, the TI Architect’s
determination of the amount of Tenant Delay in connection with such Change shall be final and
binding on Landlord and Tenant.

	 	 	 
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     5. Costs.

     (a) Budget For First Floor Tenant Improvements. Before the commencement of construction of
the First Floor Tenant Improvements, Landlord shall obtain a detailed breakdown, by trade, of the
costs incurred or which will be incurred in connection with the design and construction of the
First Floor Tenant Improvements (the “Budget”). The Budget shall be based upon the First Floor TI
Construction Drawings approved by Tenant.

     (b) Excess First Floor TI Costs. It is understood and agreed that Landlord is under no
obligation to bear any portion of the cost of any of the First Floor Tenant Improvements
attributable to Changes or Tenant Delays. If at any time and from time-to-time, the First Floor TI
Costs increase as a result of Changes or Tenant Delays, Tenant shall deposit with Landlord within 5
business days of request by Landlord 50% of the amount of such increase, and within 5 business days
of the date of a certificate of occupancy for the First Floor Premises (including a temporary or
conditioned certificate of occupancy), 50% of the amount of such increase, each as a condition
precedent to Landlord’s obligation to complete the First Floor Tenant Improvements. The amount of
such increase, whether required to be deposited with Landlord within 5 days of request or of the
date of a certificate of occupancy, is referred to in this Work Letter as an “Excess First Floor TI
Cost”. If Tenant fails to deposit, or is late in depositing, any Excess First Floor TI Cost with
Landlord, Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment
of Rent (including, but not limited to, the right to interest at the Default Rate and the right to
assess a late charge), and for purposes of any litigation instituted with regard to such amounts
the same will be considered Rent. Funds so deposited by Tenant shall be the first thereafter
disbursed to pay Excess First Floor TI Costs. Notwithstanding anything to the contrary set forth
in this Section 5(b), Tenant shall be fully and solely liable for Excess First Floor TI
Costs and the cost of Minor Variations. If upon Substantial Completion of the First Floor Tenant
Improvements and the payment of all sums due in connection therewith there remains any undisbursed
amounts of Excess First Floor TI Costs paid by Tenant to Landlord, Tenant shall be entitled to such
undisbursed amounts solely to the extent of any Excess First Floor TI Costs deposit Tenant has
actually made with Landlord.

     (c) Payment for Landlord’s Improvements. Landlord shall bear all costs, expenses and fees
incurred by or on behalf of Landlord in connection with the construction of Landlord’s
Improvements, other than as a result of Tenant requested Changes or Tenant Delays, subject to the
terms hereof and the terms of the Lease.

     6. Tenant Access.

     (a) Tenant’s Access Rights. Landlord hereby agrees to permit Tenant access, at Tenant’s sole
risk and expense, to the First Floor Premises (i) as of January 1, 2007 to perform any work
(“Tenant’s First Floor Work”) required by Tenant in the First Floor Premises other than Landlord’s
Work and provided that such Tenant’s First Floor Work is coordinated with the TI Architect and the
general contractor, and complies with the Lease and all other reasonable restrictions and
conditions Landlord may impose, and (ii) prior to the completion of Landlord’s Work, to inspect and
observe work in process; all such access shall be during normal business hours or at such other
times as are reasonably designated by Landlord. Notwithstanding the foregoing, Tenant shall have
no right to enter onto the First Floor Premises unless and until Tenant shall deliver to Landlord
evidence reasonably satisfactory to Landlord demonstrating that any insurance reasonably required
by Landlord in connection with such pre-commencement access (including, but not limited to, any
insurance which Landlord may require pursuant to the Lease) is in full force and effect. Any entry
by Tenant shall comply with all established safety practices of Landlord’s contractor and Landlord until completion of Landlord’s Work and
acceptance thereof by Tenant.

     (b) No Interference. Neither Tenant nor any Tenant Party shall interfere with the performance
of Landlord’s Work, nor with any inspections or issuance of final approvals by 
 the City of Waltham or other applicable Governmental Authority, and upon any such
interference,

	 	 	 
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Landlord shall have the right to exclude Tenant and any Tenant Party from the First
Floor Premises until Substantial Completion of Landlord’s Work.

     (c) No Acceptance of Premises. The fact that Tenant may, with Landlord’s consent, enter into
the First Floor Premises prior to the date Landlord’s Work is Substantially Complete for the
purpose of performing any Tenant’s First Floor Work shall not be deemed an acceptance by Tenant of
possession of the First Floor Premises, but in such event Tenant shall indemnify and hold Landlord
harmless from any loss of or damage to Tenant’s property, completed work, fixtures, equipment,
materials or merchandise, and from liability for death of, or injury to, any person, caused by the
willful misconduct or negligence of Tenant or any Tenant Party.

     7. Notification of Delays. Not less than once each calendar month from the date of this First
Floor Work Letter through the Term Commencement Date, Landlord shall deliver to Tenant written
notification of the number of days during the immediately preceding calendar month Landlord’s
performance under this First Floor Work Letter or the Lease was delayed as a result of Tenant
Delays or delays arising by reason of any Force Majeure as defined in Section 34 of the
Lease (a “Force Majeure Delay”), which written notification shall also include a description of the
nature of such Tenant Delay or Force Majeure Delay.

     8. Miscellaneous.

     (a) Consents. Whenever consent or approval of either party is required under this First Floor
Work Letter, that party shall not unreasonably withhold, condition or delay such consent or
approval, except as may be expressly set forth herein to the contrary.

     (b) Modification. No modification, waiver or amendment of this First Floor Work Letter or of
any of its conditions or provisions shall be binding upon Landlord or Tenant unless in writing
signed by Landlord and Tenant.

     (c) Counterparts. This First Floor Work Letter may be executed in any number of counterparts
but all counterparts taken together shall constitute a single document.

     (d) Governing Law. This First Floor Work Letter shall be governed by, construed and enforced
in accordance with the internal laws of the state in which the Premises are located, without regard
to choice of law principles of such State.

     (e) Time of the Essence. Time is of the essence of this First Floor Work Letter and of each
and all provisions thereof.

     (f) Default. Notwithstanding anything set forth herein or in the Lease to the contrary,
Landlord shall not have any obligation to perform any work hereunder or to fund any portion of the
cost of the First Floor Tenant Improvements during any period Tenant is in Default under the Lease.

     (g) Severability. If any term or provision of this First Floor Work Letter is declared
invalid or unenforceable, the remainder of this First Floor Work Letter shall not be affected by
such determination and shall continue to be valid and enforceable.

     (h) Merger. All understandings and agreements, oral or written, heretofore made between the
parties hereto and relating to Landlord’s Work and Tenant’s Work are merged in this First Floor
Work Letter, which alone (but inclusive of provisions of the Lease incorporated herein and the
final approved constructions drawings and specifications prepared pursuant hereto) fully and
completely expresses the agreement between Landlord and Tenant with regard to the matters set forth
in this First Floor Work Letter.

	 	 	 
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     (i) Entire Agreement. This First Floor Work Letter is made as a part of and pursuant to the
Lease and, together with the Lease, constitutes the entire agreement of the parties with respect to
the subject matter hereof. This First Floor Work Letter is subject to all of the terms and
limitation set forth in the Lease, and neither party shall have any rights or remedies under this
First Floor Work Letter separate and apart from their respective remedies pursuant to the Lease.

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     IN WITNESS WHEREOF, Landlord and Tenant have executed this First Floor Work Letter to be
effective on the date first above written.

	 	 	 	 	 
	 	TENANT:

TENANT:

ADNEXUS THERAPEUTICS, INC.,

a Delaware corporation, formerly known as Compound

Therapeutics, Inc.

 	 
	 	By:  	/s/ Charles R. Carter
 	 
	 	 	Its: VP Finance and Corp Secretary 	 
	 	 	 	 
	 	LANDLORD:

ARE-MA REGION NO. 9, LLC,

a Delaware limited liability company 

By: ARE-MA REGION NO. 9MM, LLC, a Delaware

       limited liability company, manager

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

       a Delaware limited partnership, its member

By: ARE-QRS CORP.,

       a Maryland corporation,

       general partner

 	 
	 	By:  	/s/ Jennifer Pappas
 	 
	 	 	Its: VP and Assistant Secretary	 
	 	 	 	 

	 	 	 
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	Major Construction — Landlord Build

	 	100 Beaver St., Waltham/Adnexus Therapeutics — Page 9

SCHEDULE A TO FIRST FLOOR WORK LETTER

Development Schedule

[attached]

	 	 	 
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	Major Construction — Landlord Build

	 	100 Beaver St., Waltham/Adnexus Therapeutics — Page 10

SCHEDULE B TO FIRST FLOOR WORK LETTER

First Flooor TI Design Drawings

[attached]

	 	 	 
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100 Beaver St., Waltham/Adnexus Therapeutics — Page 1

EXHIBIT D TO LEASE

ACKNOWLEDGMENT OF COMMENCEMENT DATE

     This ACKNOWLEDGMENT OF COMMENCEMENT DATE is made as of this 2nd day of February, 2007, between
ARE-MA REGION No. 9, LLC, a Delaware limited liability company (“Landlord”), and ADNEXUS
THERAPEUTICS, INC., a Delaware corporation (“Tenant”), and is attached to and made a part of the
Lease dated as of November 14, 2006 (the “Lease”), by and between Landlord and Tenant. Any
initially capitalized terms used but not defined herein shall have the meanings given them in the
Lease.

     Landlord and Tenant hereby acknowledge and agree, for all purposes of the Lease, that the
Commencement Date of the Base Term of the Lease is November 16, 2006 , the Rent Commencement Date
is November 16, 2006, and the termination date of the Base Term of the Lease shall be midnight on
November 30, 2011

     IN WITNESS WHEREOF, Landlord and Tenant have executed this ACKNOWLEDGMENT OF COMMENCEMENT DATE
to be effective on the date first above written.

	 	 	 	 	 
	 	ADNEXUS THERAPEUTICS, INC.,

a Delaware corporation, formerly known as Compound

Therapeutics, Inc.

 	 
	 	By:  	/s/ Charles R. Carter
 	 
	 	 	Its: VP Finance and Corp Secretary 	 
	 	 	 	 
	 
	 	LANDLORD:

ARE-MA REGION NO. 9, LLC,

a Delaware limited liability company 

By:  ARE-MA REGION NO. 9MM, LLC, a Delaware

       limited liability company, manager

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

       a Delaware limited partnership, its member

By:  ARE-QRS CORP.,

       a Maryland corporation,

       general partner

 	 
	 	By:  	/s/ Jackie Clem
 	 
	 	 	Name:  	Jackie Clem 	 
	 	 	Title:  	Assistant Vice President 	 
	 

	 	 	 
	28464922.2 072501 1753P 98459290

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100 Beaver St., Waltham/Adnexus Therapeutics — Page 1

EXHIBIT E TO LEASE

Rules and Regulations

     1. The sidewalk, entries, and driveways of the Project shall not be obstructed by Tenant, or
any Tenant Party, or used by them for any purpose other than ingress and egress to and from the
Premises.

     2. Tenant shall not place any objects, including antennas, outdoor furniture, etc., in the
parking areas, landscaped areas or other areas outside of its Premises, or on the roof of the
Project.

     3. Except for animals assisting the disabled, no animals shall be allowed in the offices,
halls, or corridors in the Project.

     4. Tenant shall not disturb the occupants of the Project or adjoining buildings by the use of
any radio or musical instrument or by the making of loud or improper noises.

     5. If Tenant desires telegraphic, telephonic or other electric connections in the Premises,
Landlord or its agent will direct the electrician as to where and how the wires may be introduced;
and, without such direction, no boring or cutting of wires will be permitted. Any such
installation or connection shall be made at Tenant’s expense.

     6. Tenant shall not install or operate any steam or gas engine or boiler, or other mechanical
apparatus in the Premises, except as specifically approved in the Lease. The use of oil, gas or
inflammable liquids for heating, lighting or any other purpose is expressly prohibited. Explosives
or other articles deemed extra hazardous shall not be brought into the Project.

     7. Parking any type of recreational vehicles is specifically prohibited on or about the
Project. Except for the overnight parking of operative vehicles, no vehicle of any type shall be
stored in the parking areas at any time. In the event that a vehicle is disabled, it shall be
removed within 48 hours. There shall be no “For Sale” or other advertising signs on or about any
parked vehicle. All vehicles shall be parked in the designated parking areas in conformity with
all signs and other markings. All parking will be open parking, and no reserved parking, numbering
or lettering of individual spaces will be permitted except as specified by Landlord.

     8. Tenant shall maintain the Premises free from rodents, insects and other pests.

     9. Landlord reserves the right to exclude or expel from the Project any person who, in the
judgment of Landlord, is intoxicated or under the influence of liquor or drugs or who shall in any
manner do any act in violation of the Rules and Regulations of the Project.

     10. Tenant shall not cause any unnecessary labor by reason of Tenant’s carelessness or
indifference in the preservation of good order and cleanliness. Landlord shall not be responsible
to Tenant for any loss of property on the Premises, however occurring, or for any damage done to
the effects of Tenant by the janitors or any other employee or person.

     11. Tenant shall give Landlord prompt notice of any defects in the water, lawn sprinkler,
sewage, gas pipes, electrical lights and fixtures, heating apparatus, or any other service
equipment affecting the Premises.

     12. Tenant shall not permit storage outside the Premises, including without limitation,
outside storage of trucks and other vehicles, or dumping of waste or refuse or permit any harmful
materials to be placed in any drainage system or sanitary system in or about the Premises.

	 	 	 
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100 Beaver St., Waltham/Adnexus Therapeutics — Page 2

     13. All moveable trash receptacles provided by the trash disposal firm for the Premises must
be kept in the trash enclosure areas, if any, provided for that purpose.

     14. No auction, public or private, will be permitted on the Premises or the Project.

     15. No awnings shall be placed over the windows in the Premises except with the prior written
consent of Landlord.

     16. The Premises shall not be used for lodging, sleeping or cooking or for any immoral or
illegal purposes or for any purpose other than that specified in the Lease. No gaming devices
shall be operated in the Premises.

     17. Tenant shall ascertain from Landlord the maximum amount of electrical current which can
safely be used in the Premises, taking into account the capacity of the electrical wiring in the
Project and the Premises and the needs of other tenants, and shall not use more than such safe
capacity. Landlord’s consent to the installation of electric equipment shall not relieve Tenant
from the obligation not to use more electricity than such safe capacity.

     18. Tenant assumes full responsibility for protecting the Premises from theft, robbery and
pilferage.

     19. Tenant shall not install or operate on the Premises any machinery or mechanical devices of
a nature not directly related to Tenant’s ordinary use of the Premises and shall keep all such
machinery free of vibration, noise and air waves which may be transmitted beyond the Premises.

	 	 	 
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100 Beaver St., Waltham/Adnexus Therapeutics — Page 1

EXHIBIT F TO LEASE

TENANT’S PERSONAL PROPERTY

None except as set forth below:

     Third Floor Phone System

	 	 	 
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100 Beaver St., Waltham/Adnexus Therapeutics — Page 1

EXHIBIT G TO LEASE

LANDLORD’S BASE BUILDING WORK AND PROPOSED SCHEDULE

     The following changes to the building systems and roof shall constitute Landlord’s Base
Building Work.

     1. Repair, if necessary, the cooling systems on the York air handling units that serve the
Third Floor Premises so that such units function as designed.

     2. Clean and, as necessary, repair the energy recovery coils on the York air handling units
that serve the Third Floor Premises.

     3. Perform maintenance and repair all of the VAV boxes serving the Third Floor Premises, such
maintenance to include controls calibration, repair of any non-functioning stepped electric heating
elements, installation of hot water heating coils and replacement of any failed fan units.

     4. Replace the existing ballasted roof system with a fully adhered roofing system including
all necessary flashing work to existing roof penetrations.

     5. Install card access control on the freight elevator to limit access from the freight
elevator to the Third Floor Premises. Passenger elevator access shall be controlled at the third
floor lobbies by tenant.

     6. Install card access control to the stairwells on both ends of the third floor (i.e., two
stairwells).

[Proposed Work Schedule for Landlord’s Base Building Work is attached (2 pages)]

	 	 	 
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100 Beaver St., Waltham/Adnexus Therapeutics — Page 1

EXHIBIT H TO LEASE

SECOND FLOOR PREMISES DESCRIPTION

[plan attached]

	 	 	 
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EXHIBIT I TO LEASE

FORM OF LICENSE AGREEMENT

LICENSE AGREEMENT

     THIS LICENSE AGREEMENT (this “Agreement”) dated as of                      ___, 2006 (“Effective
Date”), is made and entered into by and between ARE-MA REGION NO. 9, LLC, a Delaware limited
liability company (“Licensor”), and ADNEXUS THERAPEUTICS, INC., a Delaware corporation formerly
known as Compound Therapeutics, Inc. (“Licensee”), with reference to the following Recitals:

RECITALS

     A. Licensor is the owner of that certain property commonly known as 100 Beaver Street,
Waltham, Massachusetts (the “Property”).

     B. Licensee and Licensor are parties to that certain Lease Agreement dated as of
                     ___, 2006 (the “Lease”) for certain space located at the Property and more
particularly described therein (the “Premises”). All initially capitalized terms used herein but
not otherwise defined shall have the respective meanings ascribed thereto in the Lease.

     C. Licensee desires to have, and Licensor desires to grant to Licensee, certain rights to
access and use a certain area of the Property described as the (i) “Shared Glasswash/Autoclave
Area” on the second floor of the Project as shown on Exhibit A attached hereto, (ii) the First
Floor Vending Area (as defined in the Lease) in the location on the first floor of the Project as
determined by Landlord in its sole discretion, and (iii) the First Floor Conference Room (as
defined in the Lease) in the location on the first floor of the Project as determined by Landlord
in its sole discretion, all in accordance with the terms and provisions set forth below.

AGREEMENT

     For and in consideration of the covenants and premises herein contained and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereby agree as follows:

     1. License.

     (a) Shared Glasswash/Autoclave Area. Effective upon the “Commencement Date” (as defined
below), Licensor grants Licensee, and Licensee hereby accepts, a non-exclusive license to use the
Shared Glasswash/Autoclave Area 24 hours a day, 7 days a week, subject to the terms and provisions
of this Agreement.

     (b) First Floor Vending Area. Effective upon notice from Licensor to Licensee of the
completion by Licensor of the Vending/Conference Work applicable to the First Floor Vending Area,
Licensor grants Licensee, and Licensee hereby accepts, a non-exclusive license to use the First
Floor Vending Area 24 hours a day, 7 days a week, subject to the terms and provisions of this
Agreement.

     (c) First Floor Conference Room. Effective upon notice from Licensor to Licensee of the
completion by Licensor of the Vending/Conference Work applicable to the First Floor Conference
Room, Licensor grants Licensee, and Licensee hereby accepts, a non-exclusive license to use the
First Floor Conference Room 24 hours a day, 7 days a week, subject to the terms and provisions of
this Agreement.

	 	 	 	 	 
	 

	 	
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2

 

	 	 	 
	License Agreement

	 	100 Beaver St., Waltham/Adnexus Therapeutics

     (d) Licensed Area Defined. The Shared Glasswash/Autoclave Area, First Floor Vending Area
and First Floor Conference Room are collectively defined as the “Licensed Area,” and any reference
herein to the Licensed Area shall refer to all and any part or component of the Licensed Area.

     (e) Shared Use. Licensee’s use of the Licensed Area shall be on a first come first served
basis and Licensor shall not be responsible for enforcing any party’s right to use the Licensed
Area. Upon request, Licensor shall assist Licensee in working with other licensees entitled to use
the Licensed Area in developing a schedule for use of the Licensed Area by all parties.

     2. Use. Licensee shall exercise its limited rights hereunder in compliance with all
laws, orders, judgments, ordinances, regulations, codes, directives, permits, licenses, covenants
and restrictions now or hereafter applicable to the Property or Licensed Area and the use and
occupancy thereof, including any and all reasonable rules and regulations to be attached as Exhibit
B hereto, as the same may be revised by Licensor from time to time, a copy of which revisions
shall be provided to Licensee.

     3. Term.

     (a) The term of this Agreement shall commence on the Effective Date hereof (the “Commencement
Date”) and continue until the earlier to occur of (a) the last day on which Licensee is entitled to
occupy the Premises pursuant to the terms of the Lease, (b) the date this Agreement is sooner
terminated pursuant to its terms, and (c) the date the Lease is sooner terminated pursuant to its
terms. The period between the Commencement Date and the date of expiration or termination of this
Agreement shall be the “Term.”

     (b) Licensee shall have the right to terminate this Agreement and the license granted
hereunder at any time during the Term, for any or no reason, upon thirty (30) days’ prior written
notice to Licensor.

     (c) Upon the expiration or earlier termination of this Agreement, Licensee shall remove its
personal property (if any) from the Licensed Area, and shall immediately return to Licensor all
keys and/or access cards to the Licensed Area. If any such access card or key is lost, Licensee
shall pay to Licensor, at Licensor’s election, either the cost of replacing such lost access card
or key or the cost of reprogramming the access security system in which such access card was used
or changing the lock or locks opened by such lost key. Any of Licensee’s property not removed by
Licensee as required herein shall be deemed abandoned and may be stored, removed and disposed of by
Licensor at Licensee’s expense, and Licensee waives all claims against Licensor for any damages
resulting from Licensor’s retention and/or disposition of such property. All obligations of
Licensee not fully performed as of the expiration or termination date shall survive such expiration
or termination.

     4. Relocation and Modification of Licensed Area. Licensor shall have the right at any
time to reconfigure, relocate or modify the Licensed Area from time to time and to revise or expand
any of the services (if any) provided therein, and to add, change, reconfigure or relocate any of
the Equipment (as hereinafter defined) located therein. In the event of modification by Landlord to
all or part of the Licensed Area, such modification shall not materially reduce the general utility
of the such Licensed Area (or part thereof) for glasswash and autoclave uses, vending use, conference room use with
seating for at least 40 people, as applicable.

     5. Interference. Licensee shall use the Licensed Area in a manner that will not
interfere with the rights of any tenants, other licensees or Licensor’s service providers.
Licensor assumes no responsibility for enforcing Licensee’s rights or for protecting the Licensed
Area or Licensee’s personal property from interference or use from any person, including, without
limitation, tenants or other licensees

	 	 	 	 	 
	 

	 	
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3

 

	 	 	 
	License Agreement

	 	100 Beaver St., Waltham/Adnexus Therapeutics

of the Property. Licensor shall not be liable for any damages arising from any act, omission, or neglect of any tenant or other licensee of the Property
or any other third party.

     6. Default by Licensee.

     (a) Each of the following events shall be a default hereunder (“Default”),

     (i) if Licensee fails to comply with any of the terms or provisions of this Agreement,
and fails to cure such default within 10 days after the date of delivery of written notice
of default from Licensor; or

     (ii) during the occurrence and continuation of any Default (as defined in the Lease)
under the Lease.

     (b) In the event of any Default by Licensee hereunder, Licensor shall be entitled to all
rights and remedies provided for Landlord under the Lease, and all other rights and remedies
provided at law or in equity, including without limitation, termination of this Agreement and the
license granted hereunder.

     (c) Licensor shall not be in default hereunder unless Licensor fails to perform any of its
obligations hereunder within thirty (30) days after written notice from Licensee specifying such
failure (unless such performance will, due to the nature of the obligation, require a period of
time in excess of 30 days, in which case Licensor shall not be in default if Licensor commences
performance within such 30 day period and thereafter diligently prosecutes the same to completion).
Licensee’s sole remedy for any breach or default by Licensor hereunder shall be to terminate this
Agreement and Licensee hereby, to the maximum extent possible, knowingly waives the provisions of
any law or regulation, now or hereafter in effect which provides additional or other remedies to
Licensee as a result of any breach by Licensor hereunder or under any such law or regulation.

     7. Environmental Requirements. Licensee shall not cause or permit any Hazardous
Materials to be brought upon, kept, used, stored, handled, treated, generated in or about, or
released or disposed of from, the Licensed Area in violation of applicable Environmental
Requirements by Licensee or any employee, agent, representative, contractor or invitee of Licensee
(each, a “Licensee Party”). If Licensee breaches the obligation stated in the preceding sentence,
or if the presence of Hazardous Materials in the Licensed Area during the Term or any holding over
results in contamination of the Licensed Area, the Project or any adjacent property or if
contamination of the Licensed Area, the Project or any adjacent property by Hazardous Materials
brought into, kept, used, stored, handled, treated, generated in or about, or released or disposed
of from, the Licensed Area by anyone other than Licensor and Licensor’s employees, agents and
contractors otherwise occurs during the Term or any holding over, Licensee hereby indemnifies and
shall defend and hold Licensor, its officers, directors, employees, agents and contractors harmless
from any and all actions (including, without limitation, remedial or enforcement actions of any
kind, administrative or judicial proceedings, and orders or judgments arising out of or resulting
therefrom), costs, claims, damages (including, without limitation, punitive damages and damages
based upon diminution in value of the Licensed Area or the Project, or the loss of, or restriction
on, use of the Licensed Area or any portion of the Project), expenses (including, without
limitation, attorneys’, consultants’ and experts’ fees, court costs and amounts paid in settlement
of any claims or actions), fines, forfeitures or other civil, administrative or criminal penalties,
injunctive or other relief (whether or not based upon personal injury, property damage, or contamination of, or adverse
effects upon, the environment, water tables or natural resources), liabilities or losses which
arise during or after the Term as a result of such contamination. This indemnification of Licensor
by Licensee includes, without limitation, costs incurred in connection with any investigation of
site conditions or any cleanup, treatment, remedial, removal, or restoration work required by any
federal, state or local governmental authority because of Hazardous Materials present in the air,
soil or ground water above, on, or under the Licensed Area. Without limiting the foregoing, if the
presence of any Hazardous Materials in the Licensed

	 	 	 	 	 
	 

	 	
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	License Agreement

	 	100 Beaver St., Waltham/Adnexus Therapeutics

Area, the Project or any adjacent property caused or permitted by Licensee or any Licensee Party results in any contamination of the Licensed
Area, the Project or any adjacent property, Licensee shall promptly take all actions at its sole
expense and in accordance with applicable Environmental Requirements as are necessary to return the
Licensed Area, the Project or any adjacent property to the condition existing prior to the time of
such contamination, provided that Licensor’s approval of such action shall first be obtained, which
approval shall not unreasonably be withheld so long as such actions would not potentially have any
material adverse long-term or short-term effect on the Licensed Area or the Project. Licensee’s
obligations under this Section 7 shall survive the expiration or earlier termination of
this Agreement.

     8. Indemnification and Limitation of Liability.

     (a) Licensor’s sole obligation for providing equipment, systems, furnishings or personal
property to the Licensed Area, whether or not affixed to the Building (collectively, “Equipment”)
shall be (i) with respect to the Shared Glasswash/Autoclave Area, to provide glasswash equipment
and an autoclave, (ii) with respect to the First Floor Vending Area, to provide such Equipment as
is determined by Licensor in its sole and absolute discretion, (iii) with respect to the First
Floor Conference Room, to provide seating for up to 40 persons, a ceiling-mounted projector and
mechanical screen, and (iv) with respect to the Licensed Area, to contract with a third party to
maintain the Equipment that is deemed by Licensor (in its sole and absolute discretion) to need
periodic maintenance per the manufacturer’s standard maintenance guidelines. Licensor shall have
no obligation to provide Licensee with Equipment that functions at a specified level of
operability, any back-up Equipment or back-up utilities or to supervise, oversee or confirm that
the third party maintaining the Equipment is maintaining the Equipment as per the manufacturer’s
standard guidelines or otherwise. During any period of replacement, repair or maintenance of the
Equipment when such Equipment is not operational, including any delays thereto due to the inability
to obtain parts or replacements, Licensor shall have no obligation to provide Licensee with
alternative or back-up Equipment or alternative sources thereof. Licensee expressly acknowledges
and agrees that Licensor does not guaranty that the Equipment will be operational at all times,
will function or perform adequately, or that such Equipment will be available when needed, and
Licensor shall not be liable for any damages resulting from the failure of such Equipment. Without
limiting the provisions of this Section 8(a), if Licensor determines that any of the Equipment
should be replaced (which determination shall be in Licensor’s sole discretion), the replacement
shall be reasonably comparable in function. Licensee acknowledges that Licensor shall not be
operating any Equipment that may be provided in the Licensed Area, and that Licensee shall be
responsible for all personnel required to operate the Equipment in connection with Licensee’s use
thereof. The terms and provisions of this Section 8(a) shall survive the expiration or
earlier termination of this Agreement.

     (b) NOTWITHSTANDING ANYTHING SET FORTH HEREIN OR IN ANY OTHER AGREEMENT BETWEEN LICENSOR AND
LICENSEE TO THE CONTRARY: (i) LICENSOR SHALL NOT BE LIABLE TO LICENSEE OR ANY OTHER PERSON FOR
(AND LICENSEE AND EACH SUCH OTHER PERSON ASSUME ALL RISK OF) LOSS, DAMAGE, THEFT OR INJURY, WHETHER
ACTUAL OR CONSEQUENTIAL TO PERSONAL PROPERTY OF EVERY KIND AND DESCRIPTION, INCLUDING, WITHOUT
LIMITATION, TRADE FIXTURES, EQUIPMENT, INVENTORY, SCIENTIFIC RESEARCH, SCIENTIFIC EXPERIMENTS,
LABORATORY ANIMALS, PRODUCT, SPECIMENS, SAMPLES, AND/OR SCIENTIFIC, BUSINESS, ACCOUNTING AND OTHER
RECORDS OF EVERY KIND AND DESCRIPTION AND ANY AND ALL INCOME DERIVED OR DERIVABLE THEREFROM; AND
(ii) THERE SHALL BE NO PERSONAL RECOURSE TO LICENSOR FOR ANY ACT OR OCCURRENCE IN, ON OR ABOUT THE LICENSED AREA OR ARISING IN ANY WAY UNDER THIS LICENSE
AGREEMENT OR ANY OTHER AGREEMENT BETWEEN LICENSOR AND LICENSEE WITH RESPECT TO THE SUBJECT MATTER
HEREOF AND ANY LIABILITY OF LICENSOR HEREUNDER SHALL BE STRICTLY LIMITED SOLELY TO LICENSOR’S
INTEREST IN THE PROJECT OR ANY PROCEEDS FROM SALE OR CONDEMNATION THEREOF AND ANY INSURANCE
PROCEEDS PAYABLE IN RESPECT OF LICENSOR’S INTEREST IN THE PROJECT OR IN CONNECTION WITH ANY SUCH
LOSS; AND (iii) IN NO EVENT SHALL ANY PERSONAL LIABILITY BE ASSERTED

	 	 	 	 	 
	 

	 	
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	License Agreement

	 	100 Beaver St., Waltham/Adnexus Therapeutics

AGAINST LICENSOR IN CONNECTION WITH THIS LICENSE AGREEMENT NOR SHALL ANY RECOURSE BE HAD TO ANY OTHER PROPERTY OR ASSETS OF
LICENSOR OR ANY OF LICENSOR’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS. LICENSEE
ACKNOWLEDGES AND AGREES THAT THERE ARE NO WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, MADE
BY LICENSOR OR OTHERWISE WITH RESPECT TO THE LICENSED AREA OR ANY SERVICES (IF ANY) PROVIDED
THEREIN, AND LICENSEE DISCLAIMS ANY AND ALL SUCH WARRANTIES.

     (c) Licensee hereby indemnifies and agrees to defend, save and hold Licensor and its
affiliates, employees, agents, representatives, contractors, members, officers and shareholders and
its and their successors and assigns (each, a “Licensor Party”) harmless from and against, and
releases each Licensor Party from, any and all claims, losses, liabilities, costs and damages for
injury or death to persons or damage to property occurring within or about the Licensed Area, or
arising directly or indirectly out of (i) Licensee’s use of the Licensed Area, (ii) a breach or
default by Licensee in the performance of any of its obligations hereunder, or (iii) the Equipment
or the existence, use or failure thereof. The terms and provisions of this Section 8(c)
shall survive the expiration or earlier termination of this Agreement.

     (d) Losses and damages caused by Licensee or any Licensee Party shall be repaired by Licensor
at Licensee’s sole cost and expense. Licensee shall not undertake any repairs of the Equipment or
the Licensed Area and Licensee waives any rights it may have under any state or local law to make
any such repairs.

     9. Miscellaneous.

     (a) This Agreement, together with the Lease, constitutes the entire agreement and
understanding between the parties, and supersedes all offers, negotiations and other agreements
concerning the subject matter contained herein. Any amendments to this Agreement must be in
writing and executed by both parties.

     (b) If any clause or provision of this Agreement is illegal, invalid or unenforceable under
present or future laws, then and in that event, it is the intention of the parties hereto that the
remainder of this Agreement shall not be affected thereby.

     (c) This Agreement shall be binding on and inure to the benefit of the successors and
permitted assigns of the respective parties.

     (d) All notices or other communications between the parties shall be in writing and shall be
deemed duly given upon delivery or refusal to accept delivery by the addressee thereof if delivered
in person, or upon actual receipt if delivered by reputable overnight guaranty courier, addressed
and sent to the parties at their addresses set forth in the Lease (as the same may be revised from
time to time in accordance with the terms of the Lease).

     (e) The license granted hereunder is appurtenant to Licensee’s leasehold interest in the
Premises and may not be assigned, sublicensed or otherwise pledged or transferred, directly or
indirectly, regardless of any permitted sublease of the Premises. Notwithstanding the foregoing,
in the event of a permitted assignment of the Lease or an assignment of the Lease to which Licensor
consents (but not in the event of a permitted sublease), this Agreement shall automatically be assigned thereby,
and thereupon the assigning Licensee shall have no further rights to use or access the Licensed
Area. Upon any assignment of this Agreement (automatic or otherwise), the assignee shall agree in
writing to be bound by the terms and provisions of this Agreement. Notwithstanding any assignment
(automatic or otherwise) of this Agreement, Licensee shall at all times remain fully and primarily
responsible and liable for compliance with all of Licensee’s obligations under this License. This
Agreement shall be construed, interpreted, governed and enforced pursuant to the laws of the state
in which the Property is located.

	 	 	 	 	 
	 

	 	
	 	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL

RIGHTS RESERVED. Confidential and Proprietary — Do Not

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6

 

	 	 	 
	License Agreement

	 	100 Beaver St., Waltham/Adnexus Therapeutics

     (f) This Agreement may be executed in multiple counterparts but all counterparts taken
together shall constitute a single document.

     (g) Time is of the essence of each and every provision of this Agreement.

     (h) The parties to this Agreement hereby acknowledge that each such party and its counsel have
participated in the negotiation and preparation of this Agreement, and this Agreement shall be
construed and interpreted without regard to any presumption or other rule requiring construction
against the party causing the Agreement to be drafted.

     (i) Licensee acknowledges that its use of the Licensed Area is non-exclusive and will be
subject to the use of other tenants and licensees of the Property. Licensee acknowledges that it
will be important for all such users to cooperate with each other to maintain the confidentiality
of each party’s documents and operations as well as information a party may hold under confidential
arrangements with third parties. Licensee shall maintain and treat as confidential and secret all
information and materials which may intentionally or unintentionally be disclosed to it in
connection with such shared occupancy (the “Confidential Information”). Licensee shall not
disclose Confidential Information to any third party and will take appropriate action by
instruction, agreement or otherwise with its employees, agents, affiliates, associates,
representatives, contractors and invitees to ensure that security of the Confidential Information
is maintained. Notwithstanding the foregoing, Licensee may disclose Confidential Information to
the extent that (a) disclosure is compelled by judicial or administrative process or other
requirements of law, or (b) Licensee can show that such Confidential Information (i) was publicly
available prior to the date of this Agreement or thereafter became publicly available without
violation of this Agreement by Licensee or its employees, agents, affiliates, associates,
representatives, contractors or invitees, or (ii) became available to Licensee by means other than
its use of or access to the Licensed Area. The provisions of this Section 9(j) shall
survive the expiration or earlier termination of this Agreement.

[SIGNATURES ON NEXT PAGE]

	 	 	 	 	 
	 

	 	
	 	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL

RIGHTS RESERVED. Confidential and Proprietary — Do Not

Copy or Distribute. Alexandria and the Alexandria Logo are

registered trademarks of Alexandria Real Estate Equities, Inc.

7

 

	 	 	 
	License Agreement

	 	100 Beaver St., Waltham/Adnexus Therapeutics

     IN WITNESS WHEREOF, Licensor and Licensee have caused this Agreement to be executed by
their duly authorized representatives as of the date first above written.

	 	 	 	 	 
	LICENSOR:	 ARE-MA REGION NO. 9, LLC,

a Delaware limited liability company 
	 
	 	By:  	ARE-MA REGION NO. 9MM, LLC, a Delaware
limited liability company, manager 	 
	 
	 	By:  	ALEXANDRIA REAL ESTATE

EQUITIES, L.P., a Delaware limited

partnership, managing member	 
	 
	 	By:  	ARE-QRS CORP.,

a Maryland corporation,

general partner	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	LICENSEE: 	 ADNEXUS THERAPEUTICS, INC.,

a Delaware corporation formerly known as

Compound
Therapeutics, Inc. 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 

	 	
	 	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL

RIGHTS RESERVED. Confidential and Proprietary — Do Not

Copy or Distribute. Alexandria and the Alexandria Logo are

registered trademarks of Alexandria Real Estate Equities, Inc.

8

 

	 	 	 
	License Agreement

	 	100 Beaver St., Waltham/Adnexus Therapeutics

EXHIBIT A

DEPICTION OF SHARED GLASSWASH/AUTOCLAVE AREA

[attached]

	 	 	 	 	 
	 

	 	
	 	Copyright © 2005, Alexandria Real Estate Equities, Inc. ALL

RIGHTS RESERVED. Confidential and Proprietary — Do Not

Copy or Distribute. Alexandria and the Alexandria Logo are

registered trademarks of Alexandria Real Estate Equities, Inc.

A-1

 

EXHIBIT B

RULES AND REGULATIONS

Rules and regulations (if any) may be established and implemented by Licensor during the Term and a
copy thereof shall be provided to Licensee.

© All Rights Reserved 2001 Alexandria Real Estate Equities, Inc.

CONFIDENTIAL — DO NOT COPY

 

 

FIRST AMENDMENT TO LEASE

     This First Amendment to Lease (the “First Amendment”) is made as of March 7, 2007, by
and between ARE-MA REGION NO. 9, LLC, a Delaware limited liability company, having an address at
385 East Colorado Boulevard, Suite 299, Pasadena, California 91101 (“Landlord”), and ADNEXUS
THERAPEUTICS, INC., a Delaware corporation, having an address at 100 Beaver Street, Suite 301,
Waltham, MA 02453 (“Tenant”).

RECITALS

     A. Landlord and Tenant have entered into that certain Lease Agreement (the “Lease”) dated as
of November 14, 2006 (the “Lease”), wherein Landlord leased to Tenant certain premises (the
“Premises”) located at 100 Beaver Street, Waltham, MA 02453 and legally described on Exhibit
A attached to the Lease.

     B. Landlord has re-measured the Project and Premises and determined that amendment is
necessary to reflect adjustments in the Rentable Area of Premises, Rentable Area of Project and
Tenant’s Share of Operating Expenses. Landlord represents that it applied the re-measurement
consistently to all the spaces occupied by tenants at the time of the re-measurement.

     C. Landlord and Tenant desire to amend the Lease to, among other things, adjust the Rentable
Area of Premises and Rentable Area of Project, and accordingly, the Tenant’s Share of Operating
Expenses.

AGREEMENT

     Now, therefore, the parties hereto agree that, effective as of February 1, 2007, the Lease is
amended as follows:

1. Defined Terms. Any capitalized terms used and not otherwise defined herein shall have
the meanings ascribed to them as set forth in the Lease.

2. Premises. The definition of “Premises” in the Basic Lease Provisions on page 1 of the
Lease shall be deleted and replaced with the following:

	 	 	 
	Premises:

	 	That portion of the Project, containing approximately 32,070 rentable square feet, as
determined by Landlord, as shown on Exhibit A and consisting of the following:

(1) Suite 301 consisting of approximately 30,169 rentable square feet on the third floor
(the “Third Floor Premises”); and

(2) Suite 103 consisting of approximately 1,901 rentable square feet (the “First Floor
Premises”).

The Third Floor Premises and First Floor Premises are collectively referred to as
the “Premises”.

Exhibit A, which is attached to the Lease, shall remain the same, except that any references
thereon to the size of the Premises in square feet or rentable square feet shall be deleted and
replaced with 30,169 rentable square feet with respect to the Third Floor Premises, 1,901 rentable
square feet with respect to the First Floor Premises and 32,070 with respect to the Premises.

© All Rights Reserved 2001 Alexandria Real Estate Equities, Inc.

CONFIDENTIAL — DO NOT COPY

 

 

3 Rentable Area of Premises and Rentable Area of Project. The definitions of
“Rentable Area of Premises” and “Rentable Area of Project” in the Basic Lease Provisions on page 1
of the Lease shall be deleted and replaced with the following:

	 	 	 
	Rentable Area of Premises:

	 	Approximately 32,070 square feet with respect to the Premises, plus for
the time period set forth in Section 2(b) approximately an additional 350 square feet with
respect to the Second Floor Premises.
	 
	 	 
	Rentable Area of Project:

	 	Approximately 82,330 square feet.

4. Tenant’s Share of Operating Expenses. The definition of “Tenant’s Share of Operating
Expenses” in the Basic Lease Provisions on page 1 of the Lease shall be deleted and replaced with
the following:

	 	 	 
	Tenant’s Share of Operating Expenses:

	 	38.95% for the Premises, plus for the time period set forth
in Section 2(b) approximately an additional 00.43% for the Second Floor Premises.

5. Miscellaneous.

          (a) 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. This First Amendment may be amended only by an agreement in writing, signed by the
parties hereto.

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

          (c) This First Amendment may be executed in any number of counterparts, each of which shall be
deemed an original, but all of which when taken together shall constitute one and the same
instrument. The signature page of any counterpart may be detached therefrom without impairing the
legal effect of the signature(s) thereon provided such signature page is attached to any other
counterpart identical thereto except having additional signature pages executed by other parties to
this First Amendment attached thereto.

          (d) 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. Whether or not 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           Amendment.

(Signatures on Next Page)

© All Rights Reserved 2001 Alexandria Real Estate Equities, Inc.

CONFIDENTIAL — DO NOT COPY

 

 

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

     LANDLORD:

     ARE-MA REGION NO. 9, LLC

	 	 	 	 	 
	 	 	 
	 	By:  	                                          ARE-MA REGION NO. 9MM, LLC,
 	 
	 	 	a Delaware limited liability company, manager 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                                         ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
 	 
	 	 	a Delaware limited partnership, its member 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                                         ARE-QRS CORP., a Maryland corporation,
 	 
	 	 	general partner 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	                                         /s/ Jackie Clem
 	 
	 	 	Name:  	Jackie Clem 	 
	 	 	Title:  	Assistant Vice President 	 
	 

TENANT:

ADNEXUS THERAPEUTICS, INC.

	 	 	 	 
	 	 
	By:  	       /s/ Charles R. Carter
 	 
	 	Name:  	Charles R. Carter 	 
	 	Title:  	Vice President Corporate Finance and Corp. Secretary 	 
	 

© All Rights Reserved 2001 Alexandria Real Estate Equities, Inc.

CONFIDENTIAL — DO NOT COPYexv10w8

 

EXHIBIT 10.8

MASTER SECURITY AGREEMENT

Dated as of February ___, 2002 (“Agreement”)

     THIS AGREEMENT is between General Electric Capital Corporation (together with its successors
and assigns, if any, “Secured Party”) and Engeneos, Inc. (“Debtor”). Secured Party has an office
at 401 Merritt 7 Suite 23, Norwalk, CT 06856. Debtor is a corporation organized and existing under
the laws of the State of Delaware. Debtor’s mailing address and chief place of business is 40 Bear
Mill Road, Waltham, MA 02451.

1. CREATION OF SECURITY INTEREST.

     Debtor grants to Secured Party, to successors and assigns, a security interest in and against
all property listed on any collateral schedules now or in the future annexed to or made a part of
this Agreement (“Collateral Schedule”), and in and therefor, and all insurance and/or other
proceeds thereof (all such property is individually and collectively called the “Collateral”).
This security interest is given to secure the payment and performance of all debts, obligations and
liabilities of any kind whatsoever of Debtor to Secured Party now existing or arising in the
future, including but not limited to the payment and performance of certain Promissory Note from
time to time identified on any Collateral Schedule (collectively “Notes” and each a “Note”), and
any renewals, extensions and modifications of such debts, obligations and liabilities (such Notes,
debts, obligations and liabilities are called the “Indebtedness”). Unless otherwise provided by
applicable law, notwithstanding anything to the contrary contained in this Agreement, to the extent
that Secured Party asserts a purchase money security interest in any items of Collateral (“PMSI
Collateral”); (i) the PMSI Collateral shall secure only that portion of the Indebtedness which has
been advanced by Secured Party to enable Debtor to purchase, or acquire rights in or the use of
such PMSI Collateral (the “PMSI Indebtedness”) and (ii) no other Collateral shall secure the PMSI
Indebtedness.

2. REPRESENTATIONS, WARRANTIES AND COVENANTS OF DEBTOR.

     Debtor represents, warrants and covenants as of the date of this Agreement and use of the date
of each Collateral Schedule that:

     (a) Debtor’s exact legal name is as set forth in the preamble of this Agreement and Debtor is
and will remain duly organized existing and in good standing under the laws of the State set forth
in the preamble of this Agreement, has its chief executive offices at the location specified in the
preamble and is, and will remain, duly qualified and licensed in every jurisdiction whenever
necessary to carry on its business and operation;

     (b) Debtor has adequate power and capacity to enter into, and to perform its obligations under
this Agreement, each Note and any other documents evidencing, or given in connection with, any of
the Indebtedness (all of the foregoing are called the “Debt Document”);

     (c) This Agreement and the other Debt Documents have been duly authorized, executed and
delivered by Debtor and constitute legal, valid and binding agreements enforceable in accordance
with their terms, except in the extent that the enforcement of remedies may be limited under
applicable bankruptcy and insolvency laws;

 

 

H&D Comments 12/10/03

     (d) No approval, consent or withholding of objections is required from any governmental
authority or instrumentality with respect to the entry into, or performance by Debtor of any of the
Debt Documents, except any already obtained;

     (e) The entry into, and performance by, Debtor of the Debt Documents will not (i) violate any
of the organizational documents of Debtor or any judgment, order, law or regulation applicable to
Debtor, or (ii) result in any breach of or constitute a default under any contract to which Debtor
is a party, or result in the creation of any lien, claim or encumbrance on any of Debtor’s property
(except for liens in favor of Secured Party) pursuant to any indenture, mortgage, deed of trust,
bank loan, credit agreement, or other agreement or instrument to which Debtor is a party;

     (f) There are no suits or proceedings pending in court or before any commission, board or
other administrative agency against or affecting Debtor which could, in the aggregate, have a
material adverse effect on Debtor, its business or operations, or its ability to perform its
obligations under the Debt Documents, nor does Debtor have reason to believe that any such suits or
proceedings are threatened;

     (g) All financial statements delivered to Secured Party in connection with the indebtedness
have been prepared in accordance with generally accepted accounting principles, and since the date
of the most recent financial statement, there has been no material adverse change in Debtors
financial conditions;

     (h) The Collateral is not, and will not be, used by Debtor for personal, family or household
purposes;

     (i) The Collateral is, and will remain, in good condition and repair and Debtor will not be
negligent in its care and use;

     (j) Debtor is, and will remain, the sole and lawful owner, and in possession of the
Collateral, and has the sole right and lawful authority to grant the security interest described in
this Agreement; and

     (k) The Collateral is, and will remain, free and clear of all liens, claims and encumbrances
of any kind whatsoever, except for (i) liens in favor of Secured Party, (ii) liens for taxes not
yet due or for taxes being contested in good faith and which do not involve, in the judgment of
Secured Party, any risk of the sale, forfeiture or loss of any of the Collateral, and (iii)
inchoate materialmen’s, mechanic’s, repairmen’s and similar liens arising by operation of law in
the normal course of business for amounts which are not delinquent (all of such liens are called
“Permitted Liens”).

3. COLLATERAL.

     (a) Until the declaration of any default, Debtor shall remain in possession of the Collateral;
except that Secured Party shall have the right to possess (i) any chattel paper or instrument that
constitutes a part of the Collateral, and (ii) any other Collateral in which Secured Party’s
security interest may be perfected only by possession. Secured Party may inspect any of the
collateral during normal business hours after giving Debtor reasonable prior notice. If Secured
Party asks, Debtor will promptly notify Secured party in writing of the location of any Collateral.

     (b) Debtor shall (i) use the Collateral only to its trade or business, (ii) maintain all of
the Collateral in good operating order and repair, normal wear and tear excepted, (iii) use and
maintain the Collateral only in compliance with manufacturers recommendations and all applicable
laws, and (iv) keep all of the Collateral free and clear of all liens, claims and encumbrances
(except for Permitted Liens).

     (c) Secured Party does not authorize and Debtor agrees it shall not (i) part with possession
of any of the Collateral (except to Secured Party or for maintenance and repair), (ii) remove any
of the Collateral from the

2

 

H&D Comments 12/10/03

continental United States, or (iii) sell, rent, lease, mortgage, license, grant a security
interest in or otherwise transfer or encumber (except for Permitted Liens) any of the Collateral.

     (d) Debtor shall pay promptly when due all taxes, license fees, assessments and public and
private charges levied or assessed on any of the Collateral, on its use, or on this Agreement or
any of the other Debt Documents. At its option, Secured Party may discharge taxes, liens, security
interests or other encumbrances at any time levied or placed on the Collateral and may

3

 

H&D Comments 12/10/03

pay for the maintenance, insurance and preservation of the Collateral and effect compliance with
the terms of this Agreement or any of the other Debt Documents. Debtor agrees to reimburse Secured
Party, on demand, all costs and expenses incurred by Secured Party in connection with such payment
or performance and agrees that such reimbursement obligation shall constitute indebtedness.

     (e) Debtor shall, at all times, keep accurate and complete records of the Collateral, and
Secured Party shall have the right to inspect and make copies of all of Debtor’s books and records
relating to the Collateral during normal business hours, after giving Debtor reasonable prior
notice.

     (f) Debtor agrees and acknowledges that any third person who may at any time possess all or
any portion of the Collateral shall be deemed to hold, and shall hold, the Collateral as the agent
of, and as pledge holder for, Secured party. Secured Party may at any time give notice to any
third person described in the preceding sentence that such third person is holding the Collateral
as the agent of, and as pledge holder for, the Secured Party.

4. INSURANCE.

     (a) Debtor shall at all times bear the entire risk of any loss, theft, damages to, or
destruction of, any of the Collateral from any cause whatsoever.

     (b) Debtor agrees to keep the Collateral insured against loss or damage by fire and extended
coverage perils, theft, burglary, and for any or all Collateral which are vehicles, for risk of
loss by collision, and if requested by Secured Party, against such other risks as Secured Party may
reasonably require. The insurance coverage shall be in an amount no less than the full replacement
value of the Collateral, and deductible amounts, insurers and policies shall be acceptable to
Secured Party. Debtor shall deliver to Secured Party policies or certificates of insurance
evidencing such coverage. Each policy shall name Secured Party as a loss payee, shall provide for
coverage to Secured Party regardless of the breach by Debtor of any warranty or representation made
therein, shall not be subject to co-insurance, and shall provide that coverage may not be canceled
or altered by the insurer except upon thirty (30) days prior written notice to Secured Party.
Debtor appoints Secured Party as its attorney-in-fact to make proof of loss, claim for insurance
and adjustments with insurers, and to receive payment of and execute or endorse all documents,
checks or drafts in connection with insurance payments. Secured Party shall not act as Debtor’s
attorney-in-fact unless Debtor is in default. Proceeds of insurance shall be applied, at the
option of Secured Party, to repair or replace the Collateral or to reduce any of the indebtedness.

5. REPORTS.

     (a) Debtor shall promptly notify Secured Party of (i) any change in the name of Debtor, (ii)
any change in the state of its incorporation or registration, (iii) any relocation of its chief
executive offices, (iv) any relocation of any of the Collateral, (v) any of the Collateral being
lost, stolen, missing, destroyed, materially damages or worn out, or (vi) any lien, claim or
encumbrance other than Permitted Liens attaching in or being made against any of the Collateral.

     (b) Debtor will deliver to Secured Party Debtor’s complete and financial statements, certified
by a recognized firm of certified public accountants, within ninety (90) days of the close of each
fiscal year of Debtor. If Secured Party requests, Debtor will deliver to Secured Party copies of
Debtor’s quarterly financial reports certified by Debtor’s chief financial officer, within ninety
(90) days after the close of each of Debtor’s fiscal quarter. Debtor will deliver to Secured Party
copies of all Forms 10-K and 10-Q, if any, within 30 days after the dates on which they are filed
with the Securities and Exchange Commission.

6. FURTHER ASSURANCES.

     (a) Debtor shall, upon request of Secured Party, furnish to Secured Party such further
information, execute and deliver to Secured Party such documents and instruments (including,
without limitations, Uniform

4

 

H&D Comments 12/10/03

Commercial Code financing statements) and shall do such other acts and things as Secured Party
may at any time request relating to the perfection or protection of the security interest created
by this Agreement or for the purpose of carrying out the intent of this Agreement.

5

 

H&D Comments 12/10/03

Without limiting the foregoing, Debtor shall cooperate and do all acts deemed necessary or
advisable by Secured Party to continue in Secured Party a perfected first security interest in the
collateral, and shall obtain and furnish to Secured Party any subordinations, releases, landlord
waivers, lessor waivers, mortgagee waivers, or control agreement, and similar documents as may be
from time to time requested by, and in form and substance satisfactory to, Secured Party.

     (b) Debtor authorizes Secured Party to file a financing statement and amendments thereto
describing the Collateral and containing any other information required by the applicable Uniform
Commercial Code. Debtor irrevocably grants to Secured Party the power to sign Debtor’s name and
generally to act on behalf of Debtor to execute and file applications for title, transfers of
title, financing statements, notices of lien and other documents pertaining to any or all of the
Collateral; this power is coupled with Secured Party’s interest in the Collateral. Debtor shall,
if any, certificate showing the lien of this Agreement with respect to the Collateral. Debtor
ratifies its prior authorization for Secured Party to file financing statements and amendments
thereto describing the Collateral and containing any other information required by the Uniform
Commercial Code if filed prior to the date hereof.

     (c) Debtor shall indemnify and defend the Secured Party, its successors and assigns, and their
respective directors, officers and employees, from and against all claims, actions and suits
(including, without limitation, related attorneys’ fees) of any kind whatsoever arising, directly
or indirectly, in connection with any of the Collateral.

7. DEFAULT AND REMEDIES.

     (a) Debtor shall be in default under this Agreement and each of the other Debt Documents if:

          (i) Debtor breaches its obligations to pay when due any installment or other amount due or
coming due under any of the Debt Documents;

          (ii) Debtor, without the prior written consent of Secured Party, attempts to or does sell,
rent, lease, license, mortgage, grant a security interest in, or otherwise transfer or encumber
(except for Permitted Liens) any of the Collateral;

          (iii) Debtor breaches any of its insurance obligations under Section 4;

          (iv) Debtor breaches any of its other obligations under any of the Debt Documents and fails to
cure that breach within thirty (30) days after written notice from Secured Party;

          (v) Any warranty, representation or statement made by Debtor in any of the Debt Documents or
otherwise connection with any of the indebtedness shall be false or misleading in any material
respect;

          (vi) Any of the Collateral is subjected to attachment, execution, levy, seizure or
confiscation in any legal proceeding or otherwise, or if any legal or administrative proceeding is
commenced against Debtor or any of the Collateral which in the good faith judgment of Secured Party
subjects any of the Collateral to a material risk of attachment, execution, levy, seizure or
confiscation and no bond is posted or protective order obtained to negate such risk;

          (vii) Debtor breaches or is in default under any other agreement between Debtor and Secured
Party;

          (viii) Debtor or any guarantor or other obligor for any of the indebtedness (collectively
“Guarantor”) dissolves, terminates its existence, becomes insolvent or ceases to do business as a
going concern;

6

 

H&D Comments 12/10/03

          (ix) If Debtor or any Guarantor is a natural person, Debtor or any such Guarantor dies or
becomes incompetent;

          (x) A receiver is appointed for all or of any part of the property of Debtor or any Guarantor,
or Debtor or any Guarantor makes any assignment for the benefit of creditors;

          (xi) Debtor or any Guarantor file a petition under any bankruptcy, insolvency or similar law,
or any such petition is filed against Debtor or any Guarantor and is not dismissed within
forty-five (45) days; or

          (xii) Debtor’s improper filing of an amendment or termination statement relating to a filed
financing statement describing the Collateral.

     (b) If Debtor is in default, the Secured Party, at its option, may declare any or all of the
indebtedness to be immediately due and payable, without demand or notice to Debtor or any
Guarantor. The accelerated and liabilities shall bear interest (both before and after any
judgment) until paid in full at the lower of eighteen percent (18%) per annum or the maximum rate
not prohibited by applicable law.

     (c) After default, Secured Party shall have all of the rights and remedies of a Secured Party
under the Uniform Commercial Code, and under any other applicable law. Without limiting the
foregoing, Secured Party shall have the right to (i) notify any account debtor of Debtor or any
obligor on any instrument which constitutes part of the Collateral or make payment to the Secured
Party, (ii) with or without legal process, enter any premises where the Collateral may be and take
possession of and remove the Collateral from the premises or store it on the premises, (iii) sell
the Collateral at public or private sale, in whole or in part, and have the right to bid and
purchase at said sale, or (iv) lease or otherwise dispose of all or part of the Collateral,
applying proceeds from such disposition to the obligations then in default. If requested by
Secured Party, Debtor shall promptly assemble the Collateral and make it available to Secured Party
at a place to be designed by Secured Party which is reasonably convenient to both parties. Secured
Party may also render any or all of the Collateral unusable at the Debtor’s premises and may
dispose of such Collateral on such premises without liability for rent or costs. Any notice that
Secured Party is required to give to Debtor under the Uniform Commercial Code of the time and place
of any public sale or the time after which any private sale or other intended disposition of the
Collateral is to be made shall be deemed to constitute reasonable notice if such notice is given to
the last known address of Debtor at least five (5) days prior to such action.

     (d) Proceeds from any sale or lease or other disposition shall be applied: first, to all costs
of repossession, storage, and disposition including without limitation attorneys’, appraisers’, and
auctioneers’ fees; second, to discharge the obligations then in default; third, to discharge any
other indebtedness of Debtor to Secured party, whether as obligor, endorser, guarantor, surety or
indemnitor; fourth, to expenses incurred in paying or settling lien and claims against the
Collateral; and lastly, to Debtor, if there exists any surplus. Debtor shall remain fully liable
for any deficiency.

     (e) Debtor agrees to pay all reasonable attorneys’ fees and other costs incurred by Secured
Party in connection with the enforcement, assertion, defense or preservation of Secured Party’s
rights and remedies under this Agreement, or if prohibited by law, such lesser sum as may be
permitted. Debtor further agrees that such fees and costs shall constitute indebtedness.

     (f) Secured Party’s rights and remedies under this Agreement or otherwise arising are
cumulative and may be exercised singularly or concurrently. Neither the failure nor any delay on
the part of the Secured Party to exercise any right, power or privilege under this Agreement shall
operate as a waiver, nor shall any single or partial exercise of any right, power or privilege
preclude any other or further exercise of that or any other right, power or privilege. SECURED
PARTY SHALL NOT BE DEEMED TO HAVE WAIVED ANY OF ITS RIGHTS UNDER THIS AGREEMENT OR UNDER ANY OTHER
AGREEMENT, INSTRUMENT OR PAPER SIGNED BY DEBTOR UNLESS SUCH WAIVER IS EXPRESSED IN WRITING AND
SIGNED BY SECURED PARTY. A

7

 

H&D Comments 12/10/03

waiver on any one occasion shall not be construed as a bar to or waiver of any right or remedy
on any future occasion.

     (g) DEBTOR AND SECURED PARTY UNCONDITIONALLY WAIVE THEIR RIGHTS TO A JURY TRIAL OF ANY CLAIM
OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, ANY OF THE OTHER DEBT DOCUMENTS,
ANY OF THE INDEBTEDNESS SECURED HEREBY, ANY DEALINGS BETWEEN DEBTOR AND SECURED PARTY RELATING TO
THE SUBJECT MATTER OF THIS TRANSACTION OR ANY RELATED TRANSACTIONS, AND/OR THE RELATIONSHIP THAT IS
BEING ESTABLISHED BETWEEN DEBTOR AND SECURED PARTY. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL
ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT. THIS WAIVER IS IRREVOCABLE.
THIS WAIVER MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING. THE WAIVER ALSO SHALL APPLY TO ANY
OTHER DEBT DOCUMENTS, OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THIS TRANSACTION OR ANY

8

 

H&D Comments 12/10/03

RELATED TRANSACTION. THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

8. MISCELLANEOUS.

     (a) This Agreement, any Note and/or any of the other Debt Documents may be assigned, in whole
or in part, by Secured Party without notice to Debtor, and Debtor agrees not to assert against any
such assignee, or assignee’s assigns, any defense, set off, recoupment claim or counterclaim which
Debtor has or may at any time have against Secured Party for any reason whatsoever. Debtor agrees
that if Debtor receives written notice of an assignment from Secured Party, Debtor will pay all
amounts payable under any assigned Debt Documents to such assignee or as instructed by Secured
Party. Debtor also agrees to confirm in writing receipt of the notice of assignment as may be
reasonably requested by Secured Party or assignee.

     (b) All notices to be given in connection with this Agreement shall be in writing, shall be
addressed to the parties at their respective addresses set forth in this Agreement (unless and
until a different address may be specified in a written notice to the other party) and shall be
deemed given (i) on the date of receipt if delivered in hand or by facsimile transmission, (ii) on
the next business day after being sent by express mail, and (iii) on the fourth business day after
being sent by regular, registered or certified mail. As used herein, the term “business day” shall
mean and include any day other than Saturdays, Sundays, or other days on which commercial banks in
New York, New York are required or authorized to be closed.

     (c) Secured party may correct patent errors and fill in all blanks in this Agreement or in any
Collateral Schedule consistent with the agreement of the parties.

     (d) Time is of the essence of this Agreement. This Agreement shall be binding, jointly and
severally, upon all parties described as the “Debtor” and their respective heirs, executors,
representatives, successors and assigns, and shall inure to the benefit of Secured Party, its
successors and assigns.

     (e) This Agreement and its Collateral Schedules constitute the entire agreement between the
parties with respect to the subject matter of this Agreement and supersede all prior understandings
(whether written, verbal or implied) with respect to such subject matter. THIS AGREEMENT AND ITS
COLLATERAL SCHEDULES SHALL NOT BE CHANGED OR TERMINATED ORALLY OR BY COURSE OF CONDUCT, BUT ONLY BY
A WRITING SIGNED BY BOTH PARTIES. Section headings contained in this Agreement have been included
for convenience only, and shall not affect the construction or interpretation of this Agreement.

     (f) This Agreement shall continue in full force and effect until all of the indebtedness has
been indefeasibly paid in full to Secured Party or its assignee. The surrender, upon payment or
otherwise, of any Note or any of the other documents evidencing any of the indebtedness shall not
affect the right of Secured Party to retain the Collateral for such other indebtedness as may then
exist or as it may be reasonably contemplated will exist in the future. This Agreement shall
automatically be reinstated if Secured Party is ever required to return or restore the payment of
all or any portion of the indebtedness (all as though such payment had never been made).

     (g) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL IN ALL
RESPECTS BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF
CONNECTICUT (WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES OF SUCH STATE), INCLUDING ALL
MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, REGARDLESS OF THE LOCATION OF THE EQUIPMENT.

9

 

H&D Comments 12/10/03

     IN WITNESS WHEREOF, Debtor and Secured Party, intending to be legally bound hereby, have duly
executed this Agreement one or more counterparts, each of which shall be deemed to be an original,
as of the day and year first aforesaid.

	 	 	 	 	 	 	 	 	 
	SECURED PARTY:	 	 	 	DEBTOR:
	 
	 	 	 	 	 	 	 	 
	General Electric Capital Corporation	 	 	 	Engeneos, Inc.
	 
	 	 	 	 	 	 	 	 
	By:

	 	      /s/
	 	 	 	By:
	 	      /s/
	 

	 	 
	 	 	 	 	 	 
	Name:

	 	     John Edel
	 	 	 	Name:
	 	      Frank Lee
	Title:

	 	     SVP
	 	 	 	Title:
	 	     CEO
& President

10

 

H&D Comments 12/10/03

AMENDMENT

     THIS AMENDMENT is made as of the 14th day of February, 2002, between General
Electric Capital Corporation (“Secured Party”) and Engeneos, Inc. (“Debtor”) in connection with
that certain Master Security Agreement, dated as of February 14, 2002 (“Agreement”). The terms of
this Amendment are hereby incorporated into the Agreement as though fully set forth therein.
Section references below refer to the section numbers of the Agreement. The Agreement is hereby
amended as follows:

     2. REPRESENTATIONS, WARRANTIES AND COVENANTS OF DEBTOR.

     Subsection (a) is hereby amended and replaced with the following:

“Debtor is, and will remain, duly organized, existing and in good
standing under the laws of the State set forth in the preamble of
this Agreement, has its chief executive offices at the location
specified in the preamble, and is, and will remain, duly qualified
and licensed in every jurisdiction wherever necessary to carry on
its business and operations; except when failure would not have a
material adverse effect on Company’s business and operations.”

     Subsection (b) is hereby amended and replaced with the following:

“Debtor has adequate power and capacity to enter into, and to
perform its obligations under this Agreement, each Note and any
other documents evidencing, or given in connection with, any of the
Indebtedness (all of the foregoing, excluding the Warrant, are
called the “Debt Documents”);”

     Subsection (f) is hereby amended and replaced with the following:

“As of the date of this Agreement, there are no suits or proceedings
pending in court or before any commission, board or other
administrative agency against or affecting Debtor which could, in
the aggregate, have a material adverse effect on Debtor, its
business or operations, or its ability to perform its obligations
under the Debt Documents, nor does Debtor have reason to believe
that any such suits or proceedings are threatened.”

     Subsection (g) is hereby amended and replaced with the following:

“All annual financial statements delivered to Secured Party in
connection with the Indebtedness have been prepared in accordance

11

 

H&D Comments 12/10/03

with generally accepted accounting principles, and since the date of
the most recent financial statement, there has been no material
adverse change in Debtors financial condition; All quarterly
financial statements delivered to Secured Party in connection with
the Indebtedness have been prepared in accordance with generally
accepted accounting principles, and since the date of the most
recent quarterly financial statement, there has been no material
adverse change in Debtors financial condition except for footnotes
and disclosures or as otherwise noted.”

     3 COLLATERAL.

     Subsection (d) is hereby amended and replaced with the following:

“Debtor shall pay promptly when due all taxes, license fees,
assessments and public and private charges levied or assessed on any
of the Collateral, on its use, or on this Agreement or any of the
other Debt Documents. At its option, Secured Party may discharge
taxes, liens, security interests or other encumbrances at any time
levied or placed on the Collateral and may pay for the maintenance,
insurance and preservation of the Collateral and effect compliance
with the terms of this Agreement or any of the other Debt Documents.
Debtor agrees to reimburse Secured Party, on demand, all reasonable
costs and expenses incurred by Secured Party in connection with such
payment or performance and agrees that such reimbursement obligation
shall constitute Indebtedness.”

     5 REPORTS.

     Subsection (b) is hereby amended and replaced with the following:

“Debtor will deliver to Secured Party Debtor’s complete financial
statements, certified by a recognized firm of certified public
accountants, as soon as available but in any event not later than
one hundred twenty (120) days of the close of each fiscal year of
Debtor. If Secured Party requests, Debtor will deliver to Secured
Party copies of Debtor’s quarterly financial reports certified by
Debtor’s chief financial officer, within ninety (90) days after the
close of each of Debtor’s fiscal quarter. If Secured Party
requests, Debtor will deliver to Secured Party copies of all Forms
10-K and 10-Q, if any, within 30 days after the dates on which they
are filed with the Securities and Exchange Commission.”

     6 FURTHER ASSURANCES.

12

 

H&D Comments 12/10/03

     Subsection (B) is hereby amended and replaced with the following:

“Debtor authorizes Secured Party to file a financing statement and
amendments thereto describing the Collateral and containing any
other information required by the applicable Uniform Commercial
Code. Debtor irrevocably grants to Secured Party the power to sign
Debtor’s name and generally to act on behalf of Debtor solely to
execute and file applications for title, transfers of title,
financing statements, notices of lien and other documents pertaining
to any or all of the collateral; this power is coupled with Secured
Party’s interest in the Collateral. Debtor shall, if any
certificate of title be required or permitted by law for any of the
Collateral, obtain and promptly deliver to Secured Party such
certificate showing the lien of this Agreement with respect to the
Collateral. Debtor ratifies its prior authorization for Secured
Party to file financing statements and amendments thereto describing
the Collateral and containing any other information required by the
Uniform Commercial Code if filed prior to the date hereof.”

     7 DEFAULT AND REMEDIES.

     Subsection (a)(iii) is hereby amended and replaced with the following:

“Debtor breaches any of its insurance obligations under Section 4
and such breach could result in a reduction or termination of
coverage in any material respect;”

     Subsection (a)(iv) is hereby amended and replaced with the following:

“Debtor breaches any of its other material obligations under any of
the Debt Documents and fails to cure that breach within thirty (30)
days after written notice from Secured Party;”

     Subsection (a)(v) is hereby amended and replaced with the following:

“Any warranty, representation or statement made by Debtor in any of
the Debt Documents or otherwise connection with any of the
Indebtedness shall be false or misleading in any material respect at
the time made;”

     Subsection (a)(vii) is hereby deleted in its entirety and the remaining subsections are
correctly renumbered.

     Subsection (a)(v) (renumbered) is hereby amended and replaced with the following:

13

 

H&D Comments 12/10/03

     “Debtor or any Guarantor files a petition under any bankruptcy,
insolvency or similar law, or any such petition is filed against
Debtor or any Guarantor and is not dismissed within sixty (60) days;
or”

     Subsection (c) is hereby amended and replaced with the following:

“After default, Secured Party shall have all of the rights and
remedies of a Secured Party under the Uniform Commercial Code, and
under any other applicable law. Without limiting the foregoing,
Secured Party shall have the right to (i) with or without legal
process, peacefully enter any premises where the Collateral may be
and take possession of and remove the Collateral from the premises
or store it on the premises, (ii) sell the Collateral at public or
private sale, in whole or in part, and have the right to bid and
purchase at said sale, or (iii) lease or otherwise dispose of all or
part of the Collateral, applying proceeds from such disposition to
the obligations then in default. If requested by Secured Party,
Debtor shall promptly assemble the Collateral and make it available
to Secured Party at a place to be designated by Secured Party which
is reasonably convenient to both parties. Secured Party may also
render any or all of the Collateral unusable at the Debtor’s
premises and may dispose of such Collateral on such premises without
liability for rent or costs. Any notice that Secured Party is
required to give to Debtor under the Uniform Commercial Code of the
time and place of any public sale or the time after which any
private sale or other intended disposition of the Collateral is to
be made shall be deemed to constitute reasonable notice if such
notice is given to the last known address of Debtor at least ten
(10) days prior to such action.”

     TERMS USED, BUT NOT OTHERWISE DEFINED HEREIN SHALL HAVE THE MEANINGS GIVEN TO THEM IN THE
AGREEMENT. EXCEPT AS EXPRESSLY AMENDED HEREBY, THE AGREEMENT SHALL REMAIN IN FULL FORCE AND
EFFECT. IF THERE IS ANY CONFLICT BETWEEN THE PROVISIONS OF THE AGREEMENT AND THIS AMENDMENT, THEN
THIS AMENDMENT SHALL CONTROL.

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment simultaneously with the
Agreement by signature of their respective authorized representative set forth below.

	 	 	 	 	 	 	 	 	 
	General Electric Capital Corporation	 	 	 	Engeneos, Inc.
	 
	 	 	 	 	 	 	 	 
	By:

	 	     /s/
	 	 	 	By:
	 	      /s/
	 

	 	 
	 	 	 	 	 	 
	Name:

	 	     John Edel
	 	 	 	Name:
	 	      Frank Lee
	Title:

	 	      SVP
	 	 	 	Title:
	 	      CEO & President

14

 

H&D Comments 12/10/03

*LOAN3003*

CERTIFIED COPY OF RESOLUTION OF BOARD OF DIRECTORS

The undersigned hereby certifies: (i) that he/she is the Secretary of Compound Therapeutics, Inc.,
a Delaware corporation; (ii) that the following is a true, accurate and complete transcript of
resolutions duly adopted at a meeting of the Board of Directors of said Corporation duly held on
the 25th day of October, 2003, at which a quorum was present, and that the proceedings
were in accordance with the Articles and by-laws of said Corporation; and (iii) that said
resolutions have not been amended or revoked, and are in full force and effect:

“RESOLVED, that each of the officers of this Corporation, whose name appears below, or the duly
elected or appointed successor in office of any or all of them, be and hereby is authorized and
empowered in the name and on behalf of this Corporation to borrow from General Electric Capital
Corporation or its successors and assigns (hereinafter referred to as “Secured Party”) from time to
time, such sum or sums of money as in the judgment of such officer or officers the Corporation may
require and to execute on behalf of the Corporation and to deliver to Secured Party in the form
required by Secured Party a promissory note or notes of this Corporation evidencing the amount or
amounts borrowed or any renewals and/or extensions thereof, such note or notes to bear such rate of
interest and be payable in such installments and on such terms and conditions as such officer may
agree to by his signature thereon.

FURTHER RESOLVED, that any of the aforesaid officers, or his duly elected or appointed successor in
office, be and hereby is authorized and empowered to do any acts, including, but not limited to,
the mortgage, pledge, or hypothecation from time to time with Secured Party of any or all the
assets of this Corporation to secure such loan or loans and any other indebtedness or obligations,
now existing or hereafter arising, of this Corporation to Secured Party, and to execute in the name
of and on behalf of this Corporation, any chattel mortgages, notes, security agreements, financing
statements, renewal, extension or consolidation agreements, and any other instruments or agreements
deemed necessary or proper by Secured Party in respect of the collateral securing any indebtedness
of this Corporation, and to affix the seal of this Corporation to any mortgage, pledge, or other
such instrument if so required or requested by Secured Party.

FURTHER RESOLVED, that each said officer of this Corporation is hereby authorized to do and perform
all other acts and deeds that may be requisite or necessary to carry fully into effect the
foregoing resolutions.

FURTHER RESOLVED, that the officers referred to in the foregoing resolutions, their names and
signatures are as follows:

	 	 	 	 	 
	NAME	 	TITLE	 	SIGNATURE
	Frank Lee

	 	President
	 	/s/

FURTHER RESOLVED, that Secured Party is authorized to rely upon the aforesaid resolutions until
receipt by it of written notice of any change, which changes of whatever nature shall not be
effective as to Secured Party to the extent that it has theretofore relied upon the aforesaid
resolutions in the above form.”

     IN
WITNESS WHEREOF, I have set my hand and affixed the seal of said Corporation this ___ day of
                    . ___.

15

 

H&D Comments 12/10/03

	 	 	 
	/s/
 

Secretary

	 	 
	 
	 	 
	(CORPORATE SEAL)
	 	 

16

 

H&D Comments 12/10/03

PROMISSORY NOTE

Oct.
30, 2003

(Date)

FOR VALUE RECEIVED, Compound Therapeutics, Inc. a corporation located at the address stated below
(“Maker”) promises, jointly and severally if more than one, to pay to the order of General Electric
Capital Corporation or any subsequent holder hereof (each, a “Payee”) at its office located at 401
Merritt 7, Suite 23, Norwalk, CT 06856 or at any other place as Payee or the holder hereof may
designate, the principal sum of Five Hundred Eighty-Five Thousand Two Hundred Sixty-Eight—24/100
Dollars ($585,268.24), with interest on the unpaid principal balance, from the date hereof through
and including the dates of payment, at a fixed interest rate of Nine and Forty Hundredths percent
(9.40%) per annum, to be paid in lawful money of the United States, in Forty Eight (48) consecutive
monthly installments of principal and interest as follows:

	 	 	 	 	 
	Periodic	 	 
	Installment	 	Amount
	Forty-Seven (47)

	 	$	14,561.77	 

each (“Periodic Installment”) and a final installment which shall be in the amount of the total
outstanding principal and interest. The first Periodic Installment shall be due and payable on
11/1/03 and the following Periodic Installments and the final installment shall be due and payable
on the same day of each succeeding month (each, a “Payment Date”). Such installments have been
calculated on the basis of a 360 day year of twelve 30-day months. Each payment may, at the option
of the Payee, be calculated and applied on an assumption that such payment would be made on its due
date.

The acceptance by Payee of any payment which is less than payment in full of all amounts due and
owing at such time shall not constitute a waiver of Payee’s right to receive payment in full at
such time or at any prior or subsequent time.

The Maker hereby expressly authorizes the Payee to insert the date value is actually given in the
blank space on the face hereof and on all related documents pertaining hereto.

This Note may be secured by a security agreement, chattel mortgage, pledge agreement or like
instrument (each of which is hereinafter called a “Security Agreement”).

Time is of the essence hereof. If any installment or any other sum due under this Note or any
Security Agreement is not received within ten (10) days after its due date, the Maker agrees to
pay, in addition to the amount of each such installment or other sum, a late payment charge of five
percent (5%) of the amount of said installment or other sum, but not exceeding any lawful maximum.
If (i) Maker fails to make payment of any amount due hereunder within ten (10) days after the same
becomes due and payable; or (ii) Maker is in default under, or fails to perform under any material
term or condition contained in any Security Agreement, then the entire principal sum remaining
unpaid, together with all accrued interest thereon and any other sum payable under this Note or any
Security Agreement, at the election of Payee, shall immediately become due and payable, with
interest thereon at the lesser of eighteen percent (18%) per annum or the highest rate not
prohibited by applicable law from the date of such accelerated maturity until paid (both before and
after any judgment).

17

 

H&D Comments 12/10/03

In the event Maker (a) sells, leases, exchange or transfers all or substantial all of the property,
assets or business of Maker or, (b) is involved with an initial public offering of its shares or
(c) is a party to any merger or consolidation, then Maker may prepay in full, but not in part, its
entire indebtedness hereunder upon payment of the entire indebtedness plus an additional sum as a
premium equal to the following percentages of the original principal balance for the indicated
period:

Prior to the first annual anniversary date of this Note: Not Applicable.

Thereafter and prior to the second annual anniversary day of this Note: five percent (5%)

Thereafter and prior to the third annual anniversary date of this Note: four percent (4%)

Thereafter and prior to the fourth annual anniversary date of this Note: three percent (3%)
and zero percent (0%) thereafter, plus all other sums due hereunder or under any Security
Agreement.

It is the intention of the parties hereto to comply with the applicable usury laws; accordingly, it
is agreed that, notwithstanding any provision to the contrary in this Note or any Security
Agreement, in no event shall this Note or any Security Agreement require the payment or permit the
collection of interest in excess of the maximum amount permitted by applicable law. If any such
excess interest is contracted for, charged or received under this Note or any Security Agreement,
or if all of the principal balance shall be prepaid, so that under any of such circumstances the
amount of interest contracted for, charged or received under this Note or any Security Agreement on
the principal balance shall exceed the maximum amount of interest permitted by applicable law, then
in such event (a) the provisions of this paragraph shall govern and control, (b) neither Maker nor
any other person or entity now or hereafter liable for the payment hereof shall be obligated to pay
the amount of such interest to the extent that it is in excess of the maximum amount of interest
permitted by applicable law, (c) any such excess which may have been collected shall be either
applied as a credit against the then unpaid principal balance or refunded to Maker, at the option
of the Payee, and (d) the effective rate of interest shall be automatically reduced to the maximum
lawful contract rate allowed under applicable law as now or hereafter construed by the courts
having jurisdiction thereof. It is further agreed that without limitation of the foregoing, all
calculations of the rate of interest contracted for, charged or received under this Note or any
Security Agreement which are made for the purpose of determining whether such rate exceeds the
maximum lawful contract rate, shall be made, to the extent permitted by applicable law, by
amortizing, prorating, allocating and spreading in equal parts during the period of the full stated
term of the indebtedness evidenced hereby, all interest at any time contracted for, charged or
received from Maker or otherwise by Payee in connection with such indebtedness; provided, however,
that if applicable state law is amended or the law of the United States of America preempts any
applicable state law, so that it becomes lawful for the Payee to receive a greater interest per
annum rate than is presently allowed, the Maker agrees that, on the effective date of such
amendment or preemption, as the case may be, the lawful maximum hereunder shall be increased to the
maximum interest per annum rate allowed by the amended state law or the law of the United States of
America.

The Maker and all sureties, endorsers, guarantors or any others (each such person, other than the
Maker, an “Obligor”) who may at any time become liable for the payment hereof jointly and severally
consent hereby to any and all extensions of time, renewals, waivers or modifications of, and all
substitutions or releases of, security or of any party primarily or secondarily liable on this Note
or any Security Agreement or any term and provision of either, which may be made, granted or
consented to by Payee, and agree that suit may be brought and maintained against any one or more of
them, at the election of Payee without joinder of any other as a party thereto, and that Payee
shall not be required first to foreclose, proceed against, or exhaust any security hereof in order
to enforce payment of this Note. The Maker and each Obligor hereby waives presentment, demand for
payment, notice of nonpayment, protest, notice of protest, notice of dishonor, and all other
notices in connection herewith, as well as filing of suit (if permitted by law) and diligence in
collecting this Note or enforcing any of the security hereof, and agrees to pay (if permitted by
law) all expenses incurred in collection, including Payee’s actual attorneys’ fees.

18

 

H&D Comments 12/10/03

THE MAKER HEREBY UNCONDITIONALLY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
BASED UPON OR ARISING OUT OF, DIRECTLY OR INDIRECTLY, THIS NOTE, ANY OF THE RELATED DOCUMENTS, ANY
DEALINGS BETWEEN MAKER AND PAYEE RELATING TO THE SUBJECT MATTER OF THIS TRANSACTION OR ANY RELATED
TRANSACTIONS, AND/OR THE RELATIONSHIP THAT IS BEING ESTABLISHED BETWEEN MAKER AND PAYEE. THE SCOPE
OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY
COURT (INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL
OTHER COMMON LAW AND STATUTORY CLAIMS.) THIS WAIVER IS IRREVOCABLE MEANING THAT IT MAY NOT BE
MODIFIED EITHER ORALLY OR IN WRITING, AND THE WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS,
RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS NOTE, ANY RELATED DOCUMENTS OR TO ANY OTHER
DOCUMENTS OR AGREEMENTS RELATING TO THIS TRANSACTION OR ANY RELATED TRANSACTION. IN THE EVENT OF
LITIGATION, THIS NOTE MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

This Note and any Security Agreement constitute the entire agreement of the Maker and Payee with
respect to the subject matter hereof and supercedes all prior understandings, agreements and
representations, express or implied.

No variation or modification of this Note, or any waiver of any of its provisions or conditions,
shall be valid unless in writing and signed by an authorized representative of Maker and Payee.
Any such waiver, consent, modification or change shall be effective only in the specific instance
and for the specific purpose given.

Any provision in this Note or any Security Agreement which is in conflict with any statute, law or
applicable rule shall be deemed omitted, modified or altered to conform thereto.

	 	 	 	 	 
	 	 	Compound Therapeutics, Inc.
	 
	 	 	 	 
	/s/

	 	By:
	 	      /s/
	 

	 	 	 	 
	(Witness)
	 	 	 	 
	Lisa Alberta

	 	Name:
	 	     Frank Lee
	 

	 	 	 	 
	(Print name)
	 	 	 	 
	1365 Main Street, Waltham, MA 02451

	 	Title:
	 	     President & CEO
	 

	 	 	 	 
	(Address)
	 	 	 	 

	 	 	 	 	 	 	 
	 

	 	Federal Tax ID #: 043714189

	 

	 	 	 	 	 	 
	 

	 	Address: 1365 Main Street, Waltham, MA 02451

19

 

H&D Comments 12/10/03

*LOAN3009*

COLLATERAL SCHEDULE NO. 001

     THIS COLLATERAL SCHEDULE NO. 001 is annexed to and made a part of that certain Master Security
Agreement dated as of February 14, 2002 between General Electric Capital Corporation, together with
its successors and assigns, if any, as Secured Party and Compound Therapeutics, Inc. as Debtor and
describes collateral in which Debtor has granted Secured Party a security interest in connection
with the Indebtedness (as defined in the Security Agreement) including without limitation that
certain Promissory Note dated 10/30/03 in the original principal amount of $585,268.24.

	 	 	 	 	 	 	 
	Quantity

	 	Manufacturer
	 	Serial Number
	 	Year/Model and Type of Equipment
	 

	 	 
	 	 
	 	 

see exhibit a attached hereto and made a part hereof

and including all additions, attachments, accessories and accessions thereto, and any and all
substitutions, replacements or exchanges therefor, and all insurance and/or other proceeds thereof.

Debtor is and will remain in full compliance with all laws and regulations applicable to it
including, without limitation, (i) ensuring that no person who owns a controlling interest in or
otherwise controls Debtor is or shall be (Y) listed on the Specially Designated Nationals and
Blocked Person List maintained by the Office of Foreign Assets Control (“OFAC”), Department of the
Treasury, and/or any other similar lists maintained by OFAC pursuant to any authorizing statute,
Executive Order or regulation or (Z) a person designated under Section 1(b), (c) or (d) of
Executive Order No. 13224 (September 23, 2001), any related enabling legislation or any other
similar Executive Orders, and (ii) compliance with all applicable Bank Secrecy Act (“BSA”) laws,
regulations and government guidance on BSA compliance and on the prevention and detection of money
laundering violations.

	 	 	 	 	 	 	 	 	 
	SECURED PARTY:	 	 	 	DEBTOR:
	 
	 	 	 	 	 	 	 	 
	General Electric Capital Corporation	 	 	 	Compound Therapeutics, Inc.
	 
	 	 	 	 	 	 	 	 
	By:

	 	     /s/
	 	 	 	By:
	 	     /s/
	 

	 	 
	 	 	 	 	 	 
	Name:

	 	     Diane Hernandez
	 	 	 	Name:
	 	     Frank Lee
	Title:

	 	     Senior Vice President
	 	 	 	Title:
	 	     President & CEO
	Date:

	 	 	 	 	 	Date:
	 	     October 30, 2003

20

 

H&D Comments 12/10/03

*LOAN3007*

Date: October 30, 2003

General Electric Capital Corporation

401 Merritt 7 Suite 23

Norwalk, CT 06851-1177

Gentlemen:

     You are hereby irrevocably authorized and directed to deliver and apply the proceeds of your
loan to the undersigned evidenced by that Note dated 10/30/03 and secured by that Security
Agreement or Chattel Mortgage dated February 14, 2002, as follows:

	 	 	 	 	 	 	 
	Compound Therapeutics, Inc.

	 	$	575,553.65	 	 	 
	GE Capital Corporation

	 	$	152.82	 	 	(Interim Interest)
	GE Capital Corporation

	 	$	9,561.77	 	 	(The balance of the
Advance Payment,
$5,000.00, will be taken
from your Good Faith
Deposit)

     This authorization and direction is given pursuant to the same authority authorizing the
above-mentioned borrowing.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	Compound Therapeutics, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	      /s/
 

	 	 
	 

	 	Name:
	 	     Frank Lee	 	 
	 

	 	Title:
	 	     President & CEO	 	 

21

 

H&D Comments 12/10/03

*LOAN3006*

ANNEX A

TO

COLLATERAL SCHEDULE NO. 001

TO MASTER SECURITY AGREEMENT

DATED AS OF February 14, 2002

CERTIFICATE OF DELIVERY/INSTALLATION

To: General Electric Capital Corporation (together with its successors and assigns, if any,
“Secured Party”)

     Pursuant to the provisions of the above Collateral Schedule to the above Master Security
Agreement and the related Promissory Note (collectively, the “Loan”), the undersigned (“Debtor”)
hereby certifies and warrants that (a) all Equipment listed below has been delivered and installed
(if applicable); (b) the Debtor has inspected the Equipment, and all such testing as it deems
necessary has been performed by Debtor, Supplier or the manufacturer; (c) Debtor has found all such
Equipment to be satisfactory and meets all applicable specifications and is fully operational for
its intended use; and (d) the Equipment was first delivered to Debtor on 10/30/03 and copies of the
Bill(s) of Lading or other documentation acceptable to Secured Party which show the date of
delivery are attached hereto.

	 	 	 	 	 	 	 
	Number of Units

	 	Manufacturer
	 	Serial Number
	 	Year/Model and Type of Equipment
	 

	 	 
	 	 
	 	 

see exhibit a attached hereto and made a part hereof

	 	 	 	 	 	 	 
	 	 	Compound Therapeutics, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	      /s/
 

	 	 
	 

	 	Name:
	 	     Frank Lee	 	 
	 

	 	Title:
	 	     President & CEO	 	 
	 

	 	Date:
	 	     October 30, 2003	 	 

22

 

H&D Comments 12/10/03

AMENDMENT NO. 3

     THIS AMENDMENT No. 3 is made as of the 16th day of December 2003, between General
Electric Corporation (“Secured Party”) and Compound Therapeutics, Inc. (“Debtor”) in connection
with that certain Master Security Agreement, dated as of February 14, 2002, as amended by Amendment
dated as of February 14, 2002, and Amendment No. 2 dated as of September 25, 2003 (“Agreement”)).
The terms of this Amendment No. 3 are hereby incorporated into the Agreement as though fully set
forth therein. Section references below refer to the section numbers of the Agreement. The
Agreement is hereby amended as follows:

     2. REPRESENTATIONS, WARRANTIES AND COVENANTS OF DEBTOR.

     Subsection (l) is hereby added to and made a part of the Agreement and reads as follows:

“(l) In the event the Collateral described in Collateral Schedule
No. 001 to the Agreement known as account number 4149768-001, is
foreclosed upon and if the successful bidder is the Debtor, then
Debtor hereby and herewith agrees (i) that Debtor shall be deemed to
have granted a security interest in the Collateral to Secured Party
as of the date hereof and the same shall be deemed part of the
collateral as defined in the Agreement, and (ii) to execute any
documentation reasonably required by Secured Party to properly
perfect and document Secured Party’s security interest in the
Collateral. Notwithstanding anything to the contrary in the Master
Security Agreement, in the event that the Debtor sells any portion
of the Collateral under such Collateral Schedule No. 001 in a
commercially reasonable manner, then Secured Party will be deemed to
have released its lien therein if the proceeds of such sale (net of
reasonable expenses of sale) are delivered to the Secured Party for
payment on the Note dated December ___, 2003”

     TERMS USED, BUT NOT OTHERWISE DEFINED HEREIN SHALL HAVE THE MEANINGS GIVEN TO THEM IN THE
AGREEMENT. EXCEPT AS EXPRESSLY AMENDED HEREBY, THE AGREEMENT SHALL REMAIN IN FULL FORCE AND
EFFECT. IF THERE IS ANY CONFLICT BETWEEN THE PROVISIONS OF THE AGREEMENT AND THIS AMENDMENT NO. 3,
THEN THIS AMENDMENET NO. 3 SHALL CONTROL.

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 3 simultaneously with
the Agreement by signature of their respective authorized representative set forth below.

	 	 	 	 	 	 	 	 	 
	General Electric Capital Corporation	 	 	 	Compound Therapeutics, Inc.
	 
	 	 	 	 	 	 	 	 
	By:

	 	     /s/
	 	 	 	By:
	 	     /s/
	 

	 	 
	 	 	 	 	 	 
	Name:

	 	     John Edel
	 	 	 	Name:
	 	     Frank Lee
	Title:

	 	     SVP
	 	 	 	Title:
	 	      President & CEO

23

 

H&D Comments 12/10/03

PROMISSORY NOTE

Dec.
16, 2003

(Date)

FOR VALUE RECEIVED, Compound Therapeutics, Inc. a corporation located at the address stated below
(“Maker”) promises, jointly and severally if more than one, to pay to the order of General Electric
Capital Corporation or any subsequent holder hereof (each, a “Payee”) at its office located at 401
Merritt 7, Suite 23, Norwalk, CT 06856 or at such other place as Payee or the holder hereof may
designate, the principal sum of Five Hundred Thousand—00/100 Dollars ($500,000.00), with interest
on the unpaid principal balance, from the date hereof through and including the dates of payment,
at a fixed interest rate of Nine and Sixteen Hundredths percent (9.16%) per annum, to be paid in
lawful money of the United States, in Sixty (60) consecutive monthly installments of principal and
interest as follows:

	 	 	 	 	 
	Periodic	 	 
	Installment	 	Amount
	One (1)

	 	$	1,908.33	 
	Eleven (11)

	 	$	3,816.67	 
	Forty-Seven (47)

	 	$	12,480.54	 

each (“Periodic Installment”) and a final installment which shall be in the amount of the total
outstanding principal and interest. The first Periodic Installment shall be due and payable on
1/1/04 and the following Periodic Installments and the final installment shall be due on the same
day of each succeeding month (each, a “Payment Date”). Such installments have been calculated on
the basis of a 360 day year of twelve 30-day months. Each payment may, at the option of the Payee,
be calculated and applied on an assumption that such payment would be made on its due date.

The acceptance by Payee of any payment which is less than payment in full of all amounts due and
owing at such time shall not constitute a waiver of Payee’s right to receive payment in full at
such time or at any prior or subsequent time.

The Maker hereby expressly authorizes the Payee to insert the date value is actually given in the
blank space on the face hereof and on all related documents pertaining hereto.

This Note may be secured by a security agreement, chattel mortgage, pledge agreement or like
instrument (each of which is hereinafter called a “Security Agreement”).

Time is of the essence hereof. If any installment or any other sum due under this Note or any
Security Agreement is not received within ten (10) business days after its due date, the Maker
agrees to pay, in addition to the amount of each such installment or other sum, a late payment
charge of five percent (5%) of the amount of said installment or other sum, but not exceeding any
lawful maximum. If (i) Maker fails to make payment of any amount due hereunder within ten (10)
business days after the same becomes due and payable; or (ii) there is a material default under the
Security Agreement which continues uncured after twenty (20) business days’ notice, then the entire
principal sum remaining unpaid, together with all accrued interest thereon and any other sum
payable under this Note or any Security Agreement, at the election of Payee, shall immediately
become due and payable, with interest thereon at the lesser of eighteen percent (18%) per annum or
the highest rate not prohibited by

24

 

H&D Comments 12/10/03

applicable law from the date of such accelerated maturity until paid (both before and after any
judgment).

Maker may prepay in full, or in part, its entire indebtedness hereunder upon payment of the entire
indebtedness.

It is the intention of the parties hereto to comply with the applicable usury laws; accordingly, it
is agreed that, notwithstanding any provision to the contrary in this Note or any Security
Agreement, in no event shall this Note or any Security Agreement require the payment or permit the
collection of interest in excess of the maximum amount permitted by applicable law. If any such
excess interest is contracted for, charged or received under this Note or any Security Agreement,
or if all of the principal balance shall be prepaid, so that under any of such circumstances the
amount of interest contracted for, charged or received under this Note or any Security Agreement on
the principal balance shall exceed the maximum amount of interest permitted by applicable law, then
in such event (a) the provisions of this paragraph shall govern and control, (b) neither Maker nor
any other person or entity now or hereafter liable for the payment hereof shall be obligated to pay
the amount of such interest to the extent that it is in excess of the maximum amount of interest
permitted by applicable law, (c) any such excess which may have been collected shall be either
applied as a credit against the then unpaid principal balance or refunded to Maker, at the option
of the Payee, and (d) the effective rate of interest shall be automatically reduced to the maximum
lawful contract rate allowed under applicable law as now or hereafter construed by the courts
having jurisdiction thereof. It is further agreed that without limitation of the foregoing, all
calculations of the rate of interest contracted for, charged or received under this Note or any
Security Agreement which are made for the purpose of determining whether such rate exceeds the
maximum lawful contract rate, shall be made, to the extent permitted by applicable law, by
amortizing, prorating, allocating and spreading in equal parts during the period of the full stated
term of the indebtedness evidenced hereby, all interest at any time contracted for, charged or
received from Maker or otherwise by Payee in connection with such indebtedness; provided, however,
that if applicable state law is amended or the law of the United States of America preempts any
applicable state law, so that it becomes lawful for the Payee to receive a greater interest per
annum rate than is presently allowed, the Maker agrees that, on the effective date of such
amendment or preemption, as the case may be, the lawful maximum hereunder shall be increased to the
maximum interest per annum rate allowed by the amended state law or the law of the United States of
America.

The Maker and all sureties, endorsers, guarantors or any others (each such person, other than the
Maker, an “Obligor”) who may at any time become liable for the payment hereof jointly and severally
consent hereby to any and all extensions of time, renewals, waivers or modifications of, and all
substitutions or releases of, security or of any party primarily or secondarily liable on this Note
or any Security Agreement or any term and provision of either, which may be made, granted or
consented to by Payee, and agree that suit may be brought and maintained against any one or more of
them, at the election of Payee without joinder of any other as a party thereto, and that Payee
shall not be required first to foreclose, proceed against, or exhaust any security hereof in order
to enforce payment of this Note. The Maker and each Obligor hereby waives presentment, demand for
payment, notice of nonpayment, protest, notice of protest, notice of dishonor, and all other
notices in connection herewith, as well as filing of suit (if permitted by law) and diligence in
collecting this Note or enforcing any of the security hereof, and agrees to pay (if permitted by
law) all expenses incurred in collection, including Payee’s actual attorneys’ fees.

THE MAKER HEREBY UNCONDITIONALLY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
BASED UPON OR ARISING OUT OF, DIRECTLY OR INDIRECTLY, THIS NOTE, ANY OF THE RELATED DOCUMENTS, ANY
DEALINGS BETWEEN MAKER AND PAYEE RELATING TO THE SUBJECT MATTER OF THIS TRANSACTION OR ANY RELATED
TRANSACTIONS, AND/OR THE RELATIONSHIP THAT IS BEING ESTABLISHED BETWEEN MAKER AND PAYEE. THE

SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED
IN ANY COURT (INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS,
AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS.) THIS WAIVER IS IRREVOCABLE MEANING THAT IT MAY NOT
BE MODIFIED EITHER ORALLY OR IN WRITING, AND THE WAIVER SHALL APPLY TO ANY
 

25

 

H&D Comments 12/10/03

SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS NOTE, ANY RELATED DOCUMENTS
OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THIS TRANSACTION OR ANY RELATED TRANSACTION.
IN THE EVENT OF LITIGATION, THIS NOTE MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

This Note and any Security Agreement constitute the entire agreement of the Maker and Payee with
respect to the subject matter hereof and supercedes all prior understandings, agreements and
representations, express or implied.

No variation or modification of this Note, or any waiver of any of its provisions or conditions,
shall be valid unless in writing and signed by an authorized representative of Maker and Payee.
Any such waiver, consent, modification or change shall be effective only in the specific instance
and for the specific purpose given.

Any provision in this Note or any Security Agreement which is in conflict with any statute, law or
applicable rule shall be deemed omitted, modified or altered to conform thereto.

	 	 	 	 	 	 	 
	 	 	 	 	Compound Therapeutics, Inc.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	      /s/
	 

	 	 	 	 	 	 
	(Witness)
	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	     Frank Lee
	 

	 	 	 	 	 	 
	(Print name)
	 	 	 	 	 	 
	 

	 	 	 	Title:
	 	     President & CEO
	 

	 	 	 	 	 	 
	(Address)
	 	 	 	 	 	 

	 	 	 	 	 	 	 
	 

	 	Federal Tax ID #: 043714189

	 

	 	 	 	 	 	 
	 

	 	Address: 1365 Main Street, Waltham, MA 02451

26

 

H&D Comments 12/10/03

COLLATERAL SCHEDULE NO. 001

THIS COLLATERAL SCHEDULE NO. 001 is annexed to and made a part of that certain Master Security
Agreement dated as of February 14, 2002 between General Electric Capital Corporation, together with
its successors and assigns, if any, as Secured Party and Engeneos, Inc. as Debtor and describes
collateral in which Debtor has granted Secured Party a security interest in connection with the
Indebtedness (as defined in the Security Agreement) including without limitation that certain
Promissory Note dated                      in the original principal amount of $164,378.80.

	 	 	 	 	 	 	 
	Quantity

	 	Manufacturer
	 	Serial Number
	 	Year/Model and Type of Equipment
	 

	 	 
	 	 
	 	 

see exhibit a attached hereto and made a part hereof.

	 	 	 	 	 	 	 	 	 
	SECURED PARTY:	 	 	 	DEBTOR:
	 
	 	 	 	 	 	 	 	 
	General Electric Capital Corporation	 	 	 	Compound Therapeutics, Inc.
	 
	 	 	 	 	 	 	 	 
	By:

	 	     /s/
	 	 	 	By:
	 	     /s/
	 

	 	 
	 	 	 	 	 	 
	Name:

	 	     John Edel
	 	 	 	Name:
	 	     Frank Lee
	Title:

	 	     SVP
	 	 	 	Title:
	 	     President & CEO
	Date:

	 	 	 	 	 	Date:	 	 
	 

	 	 
	 	 	 	 	 	 

27

 

H&D Comments 12/10/03

*LOAN3007*

Date: December 16, 2003

General Electric Capital Corporation

401 Merritt 7 Suite 23

Norwalk, CT 06851-1177

Gentlemen:

     You are hereby irrevocably authorized and directed to deliver and apply the proceeds of your
loan to the undersigned evidenced by that Note dated                      and secured by that Security
Agreement or Chattel Mortgage dated February 14, 2002, as follows:

	 	 	 	 	 	 	 
	Compound Therapeutics, Inc.
	 	$	498,091.67	 	 	**
	GE Capital Corp.
	 	$	1,908.33	 	 	First Interest Only Payment

     This authorization and direction is given pursuant to the same authority authorizing the
above-mentioned borrowing.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	Compound Therapeutics, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	      /s/
 

	 	 
	 

	 	Name:
	 	     Frank Lee	 	 
	 

	 	Title:
	 	      CEO	 	 

 

			
	**	 	Amounts to be disbursed to Compound Therapeutics should be wired per the wire
instructions attached hereto.

28

 

H&D Comments 12/10/03

          ASSIGNMENT
AGREEMENT made as of this ___ day of December, 2003 (the “Assignment
Agreement”) between General Electric Capital Corporation (“GE Capital”), with offices at 401
Merritt 7, Norwalk, CT 06856 and Compound Therapeutics Inc. (“Compound”) with offices at 1365 Main
Street, Waltham, MA 02451.

W I T N E S S E T H :

          WHEREAS, on April 30, 2003 (the “Filing Date”), Phylos, Inc. (the “Debtor”) filed its Chapter
11 Petition with the U.S. Bankruptcy Court, District of Delaware (the “Court”), Docket No. 03-11303
(the “Bankruptcy Case”);

          WHEREAS, pursuant to two (2) Orders of the Court, each dated December 4, 2003 (the “Sale
Orders”), the Debtor was authorized to enter into an agreement with Compound, whereby Compound
would acquire the Debtor’s intellectual property assets and certain equipment assets (collectively
the “Acquired Assets”) for $4,000,000.00;

          WHEREAS, GE Capital has agreed to finance part of the purchase price for the Acquired Assets
and sell GE Capital’s Assigned Interest (defined below) as follows: (a) GE Capital will loan
Compound $500,000.00 and Compound shall execute a term note in the amount of $500,000.00 in favor
of GE Capital (“Term Loan”), to be secured by certain collateral which shall be defined and
documented in separate transaction documents; and (b) GE Capital shall, through this Assignment
Agreement, transfer to Compound its Assigned Interest, including its Proof of Claim (defined
below), as well as any and all claims it has against the Debtor in

29

 

H&D Comments 12/10/03

exchange for certain Series A preferred stock in Compound to be issued to GE Capital in connection
herewith;

30

 

H&D Comments 12/10/03

          WHEREAS, GE Capital and the Debtor entered into a certain Master Loan and Security Agreement,
dated November 28, 2001 (the “Master Loan Agreement”), and, pursuant thereto and in connection
therewith, the Debtor executed and delivered to GE Capital three (3) promissory notes (the
“Notes”) in the original principal amounts of $1,491,168.81, $276,229.63 and $241,261.04
respectively on December 4, 2001, June 20, 2002 and October 29, 2002, together with three (3)
collateral schedules (nos. 4127175-001, 002 and 003)(the “Collateral Schedules”) describing the
assets in which GE Capital maintains a security interest (the Master Loan Agreement, Notes and
Collateral Schedules, as amended an in effect, collectively referred to as the “Loan Documents”).

          WHEREAS, GE Capital filed with the Secretary of State of the State of Delaware UCC-1 financing
statements (the “Financing Statements”) naming the Debtor as debtor and GE Capital as secured
party, perfecting GE Capital’s security interest in the assets detailed on the Collateral Schedules
(the “GE Equipment”);

          WHEREAS, on November 18, 2003, GE Capital caused to be filed the Amended Proof of Claim in the
Bankruptcy Proceeding, whereby it asserted a claim against the Debtor in the amount of
$1,463,202.80 for outstanding principal and interest due as of the Filing Date (the “Proof of
Claim”);

          WHEREAS, GE Capital and Compound have received oral confirmation that an Order of the Court
has been approved (the “Stay Relief Order”), pursuant to which the automatic stay with respect to
the Debtor’s Bankruptcy Proceeding was modified to allow GE Capital to recover, take possession
and/or dispose of the GE Equipment;

          WHEREAS, GE Capital is desirous of selling and Compound is desirous of purchasing GE’s
Assigned Interest in the Bankruptcy Proceeding, together with any and all of GE Capital’s other
rights under the Loan Documents against the Debtor;

 

 

H&D Comments 12/10/03

          NOW THEREFORE, it is hereby AGREED by and between GE Capital and Compound as follows:

          1. Recitals. The foregoing recitals are incorporated herein by reference and made a
part hereof;

          2. Assignment. GE Capital hereby assigns to Compound all of GE Capital’s right, title
and interest in and to all claims of GE Capital against the Debtor, including such claims and
obligations evidenced by the Proof of Claim or otherwise arising under the Loan Documents, together
with all right, title and interest of GE Capital under and in connection with the Loan Documents
and in and to any collateral securing the payment and performance of such claims, obligations and
Loan Documents (collectively, the “Assigned Interest”). The foregoing assignment of the Assigned
Interest shall be effective upon the receipt by GE Capital of the Shares (defined below), certified
copies of director and, to the extent required, shareholder resolutions of Compound authorizing
this transaction; certified copy of the filed Amendment to the Restated Certificate of
Incorporation of Compound, and executed copies of the following documents (the “Ancillary
Documents”):

          (i) Second Amendment to the Investors Rights Agreement

          (ii) First Amendment to the Stockholders’ Voting Agreement

          (iii) First Amendment to the Right of First Refusal Agreement

          (iv) Waiver of Rights Pursuant to Section 3.1 of the Investor Rights Agreement

          3. Purchase Price. As consideration for the assignment of the Assigned Interest and
for any and all other consideration provided by GE Capital in connection with Compound’s
acquisition of the Acquired Assets, and subject to the effectiveness of the assignment described in
Section 2 above, Compound shall cause to be delivered to GE Capital,

 

 

H&D Comments 12/10/03

1,600,000 shares of Series “A” Convertible Preferred Stock of Compound (the “Shares”). Upon
the effectiveness hereof, Compound shall issue and deliver to GE Capital, stock certificates
evidencing GE Capital’s ownership of the Shares.

          4. Representations and Warranties of GE Capital. GE Capital represents and warrants
to Compound as follows:

               A. The Seller is the legal and beneficial owner of 100 % of the Assigned Interest, free and
clear of any adverse claim or encumbrance (collectively “Liens”) and, except as provided for in
this Assignment Agreement, the Assigned Interest is not subject to any prior sale, transfer,
assignment or participation by such Lender or any agreement to assign, convey, transfer or
participate, in whole or in part, and upon the effectiveness of the transactions contemplated
hereby, and the filing of appropriate notice of transfer documents with the Bankruptcy Court in
accordance with Bankruptcy Rule of Procedure 3001(e), Compound will own and have good legal and
beneficial title to the Proof of Claim, free and clear of all Liens;

               B. (i) The Proof of Claim reflects the principal and interest outstanding under the Notes,
exclusive of late charges, costs, attorneys’ fees and any and all other fees and penalties provided
for in the Loan Documents, as of the Filing Date, (ii) no less than the principal balance of the
amount set forth in the Proof of Claim was justly due and owing from the Debtor to GE Capital as of
the Filing Date, (iii) such amount remains unpaid and outstanding as of the date hereof, (iv) the
Proof of Claim has not been revoked, withdrawn, amended or modified and no right thereunder has
been waived, all statements in such Proof of Claim are true and correct as of the date hereof, and
no objections have been filed or threatened in writing with respect to the Assigned Interest, and
(v) the Proof of Claim was filed prior to any bar date which may have been established by the
Bankruptcy Court for filing such proofs of claim;

 

 

H&D Comments 12/10/03

               C. GE Capital has not received any notice that (i) any payment or other transfer made to or
for the account of GE Capital from or on account of any Assigned Interest is or may be void or
voidable as an actual or constructive fraudulent transfer or as a preferential transfer or (ii) the
Assigned Interest, or any portion thereof, is void, voidable, unenforceable or subject to any
claim, counterclaim, setoff, defense, encumbrance, action, litigation or defect;

               D. True, correct and complete copies of the Master Loan Agreement, the Notes, the Collateral
Schedules, the Proof of Claim and the Financing Statements, as amended and in effect on the date
hereof, are attached hereto as Exhibits A, B, C, D and E, respectively;

               E. The amounts due and owing by the Debtor to GE Capital under the Assigned Interest is
secured by a valid and duly perfected security interest in GE Equipment;

               F. It has full power and authority and has taken all action necessary to execute and deliver
all the documents contemplated by this Assignment Agreement, the Term Loan and to fulfill its
obligations under, and to consummate the transactions contemplated by, the Assignment Agreement
and, to its knowledge, no governmental authorizations or other authorizations are required in
connection with the GE Capital’s performance hereunder, and the Assignment Agreement constitutes a
legal, valid and binding obligation of GE Capital; and

               G. That it (i) is a sophisticated party with respect to this transaction, has adequate
information concerning the business and financial condition of Compound and the Debtor and all
other credit parties to make an informed decision regarding the sale of the Assigned Interest; (ii)
has independently and without reliance upon anyone and based on such information it deems
appropriate made its own analysis and decision to enter into this Assignment Agreement;

 

 

H&D Comments 12/10/03

               H. Investment Representations. GE Capital further represents and warrants to Compound
as follows:

          (i). That it is acquiring the Shares, and the shares of Common Stock into which the Shares may
be converted, for its own account for investment and not with a view to, or for sale in connection
with, any distribution thereof, nor with any present intention of distributing or selling the same;
and, except as contemplated by this Assignment Agreement, GE Capital has no present or contemplated
agreement, undertaking, arrangement, obligation, indebtedness or commitment providing for the
disposition thereof. GE Capital is an “accredited investor” as defined in Rule 501(a) under the
Securities Act of 1933, as amended (the “Securities Act”).

          (ii). GE Capital has full power and authority to enter into and to perform this Assignment
Agreement and the transactions contemplated hereby, including, without limitation, the acquisition
of the Shares. GE Capital has not been organized, reorganized or recapitalized specifically for
the purpose of investing in Compound.

          (iii). GE Capital has carefully reviewed the representations concerning Compound contained in
this Assignment Agreement, and has made detailed inquiry concerning Compound, its business and its
personnel; the officers of Compound have made available to GE Capital any and all written
information which it has requested and have answered to GE Capital’s satisfaction all inquiries
made by GE Capital; and GE Capital has sufficient knowledge and experience in finance and business
that it is capable of evaluating the risks and merits of its investment in Compound and GE Capital
is able financially to bear the risks thereof.

          I. The maximum liability of GE Capital to Compound in respect of breaches of any
representation or warranty shall not exceed, in the aggregate, an amount equal to (i) the Shortfall
(as defined below in Section 8) reduced by (ii) any amount paid on account of the disallowance of
any claim under Section 8.

 

 

H&D Comments 12/10/03

          5. Transfer of Shares.

          A. Restricted Shares. “Restricted Shares” means (i) the Shares, (ii) the shares of
Common Stock issued or issuable upon conversion of the Shares, (iii) any shares of capital stock of
Compound acquired by GE Capital pursuant to the Investor Rights Agreement dated as of March 31,
2003, as amended by First Amendment dated as of September 25, 2003 and Second Amendment dated as of
December ___, 2003, by and among Compound, GE Capital and the other individuals and entities listed
on the signature pages thereto, or the Right of First Refusal and Co-Sale Agreement dated as of
March 31, 2003, as amended by First Amendment dated as of December ___, 2003, by and among Compound,
GE Capital and the other persons and entities listed on the signature pages thereto, and (iv) any
other shares of capital stock of Compound issued in respect of such shares (as a result of stock
splits, stock dividends, reclassifications, recapitalizations, or similar events);
provided, however, that shares of Common Stock which are Restricted Shares shall
cease to be Restricted Shares (x) upon any sale pursuant to a registration statement under the
Securities Act, Section 4(1) of the Securities Act or Rule 144 under the Securities Act or (y) at
such time as they become eligible for sale under Rule 144(k) under the Securities Act.

          B. Requirements for Transfer.

          (i). Restricted Shares shall not be sold or transferred unless either (i) they first shall
have been registered under the Securities Act, or (ii) Compound first shall have been furnished
with an opinion of legal counsel, reasonably satisfactory to Compound, to the effect that such sale
or transfer is exempt from the registration requirements of the Securities Act.

          (ii). Notwithstanding the foregoing, no registration or opinion of counsel shall be required
for (i) a transfer by GE Capital to an Affiliated Party (as such term is defined below) of GE
Capital, (ii) a transfer by GE Capital to any shareholder or parent entity or any, direct or

 

 

H&D Comments 12/10/03

indirect, wholly-owned subsidiary of GE Capital; provided that the transferee in each case agrees
in writing to be subject to the terms of this Section 5 to the same extent as if it were GE
Capital, or (iii) a transfer made in accordance with Rule 144 under the Securities Act.
“Affiliated Party” shall mean any person or entity which, directly or indirectly, controls, is
controlled by or is under common control with GE Capital.

          (iii). Each certificate representing Restricted Shares shall bear a legend substantially in
the following form:

“The shares represented by this certificate have not been
registered under the Securities Act of 1933, as amended, and may not
be offered, sold or otherwise transferred, pledged or hypothecated
unless and until such shares are registered under such Act or an
opinion of counsel satisfactory to the Company is obtained to the
effect that such registration is not required.”

     The foregoing legend shall be removed from the certificates representing any Restricted
Shares, at the request of the holder thereof, at such time as they become eligible for resale
pursuant to Rule 144(k) under the Securities Act.

          (iv). Compound shall, at all times during which it is neither subject to the reporting
requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), nor exempt from reporting pursuant to Rule 12g3-2(b) under the Exchange Act, upon
the written request of GE Capital, provide in writing to GE Capital and to any prospective
transferee of any Restricted Shares of GE Capital the information concerning Compound described in
Rule 144A(d)(4) under the Securities Act (“Rule 144A Information”). Compound also shall, upon the
written request of GE Capital, cooperate with and assist GE Capital or any member of the National
Association of Securities Dealers, Inc. PORTAL system in applying to designate and thereafter
maintain the eligibility of the Restricted Shares for trading through PORTAL. Compound’s
obligations under this Section 5B.(iv) shall at all times be contingent upon receipt from the
prospective transferee of Restricted Shares of a written agreement to take all reasonable
precautions to safeguard the Rule 144A Information from

 

 

H&D Comments 12/10/03

disclosure to anyone other than persons who will assist such transferee in evaluating the purchase
of any Restricted Shares.

     6. Representations and Warranties of Compound. Compound represents and warrants to GE
Capital as follows:

          A. It has complied with all conditions, and obtained all necessary consents, to the issuance
of the Shares;

          B. It has determined to bid for the Acquired Assets on its own without any representation,
warranty or promise from GE Capital, except as set forth herein;

          C. It has full power and authority and has taken all action necessary to execute and deliver
all the documents contemplated by this Assignment Agreement, the Term Loan and to fulfill its
obligations under, and to consummate the transactions contemplated by, the Assignment Agreement and
no governmental authorizations or other authorizations are required in connection therewith, and
the Assignment Agreement constitutes a legal, valid and binding obligation of Compound;

          D. It is (i) a sophisticated party with respect to the purchase of the Assigned Interest, has
adequate information concerning the business and financial condition of the Debtor to make an
informed decision regarding the purchase of such Assigned Interest and to acquire the Acquired
Assets, (ii) has independently and without reliance upon anyone and based upon such information as
it deems appropriate, made its own analysis and decision to enter into this Assignment Agreement;
and

          E. Compound (i) acknowledges that GE Capital may be relying in part on certain representations
and warranties by Compound set forth in Section 3 of that certain Series

 

 

H&D Comments 12/10/03

A Convertible Preferred Stock Purchase Agreement, dated as of March 31, 2003 (the “Purchase
Agreement”); (ii) represents and warrants that the representations and warranties set forth in
Sections 3.2, 3.3(b)-(e) and 3.7 through 3.21 of the Purchase Agreement were true as of March 31,
2003 (except to the extent that such representations and warranties were made as of a specific
date, and as to such representations and warranties, the same were true as of such specified date);
and (iii) to the knowledge of Compound, there has not been since March 31, 2003 any change in the
representations and warranties which would reasonably be expected to have a material adverse effect
on the business, assets or condition (financial or otherwise) (a “Material Adverse Effect”) of
Compound.

     F. Compound further represents and warrants as follows: (i) Compound is a corporation duly
organized, validly existing and in good standing under the laws of the State of Delaware and has
full corporate power and authority to conduct its business as presently conducted and as proposed
to be conducted by it and to enter into and perform this Assignment Agreement and to carry out the
transactions contemplated by this Assignment Agreement. Compound is duly qualified to do business
as a foreign corporation and is in good standing in the Commonwealth of Massachusetts and in every
other jurisdiction in which the failure so to qualify would have a Material Adverse Effect on
Compound. Compound has furnished to GE Capital a complete and accurate copy of its Restated
Certificate of Incorporation, as amended and presently in effect; (ii) the authorized capital stock
of Compound (immediately prior to the closing of the transactions contemplated by this Assignment
Agreement) consists of (a) 30,000,000 shares of Common Stock, $.001 par value per share, of which
5,300,000 shares are issued and outstanding, and (b) 17,733,336 shares of Series A Convertible
Preferred Stock, of which 8,666,672 shares are issued or outstanding; (iii) the issuance of the
Shares in accordance with this Assignment Agreement, and the issuance of the shares of Common Stock
issuable upon

 

 

H&D Comments 12/10/03

conversion of the Shares, have been, or will be on or prior to the closing of the transactions
contemplated by this Assignment Agreement, duly authorized by all necessary corporate action on the
part of Compound, and all such shares have been duly reserved for issuance; the Shares when so
issued in accordance with the provisions of this Assignment Agreement, and the shares of Common
Stock issuable upon conversion of the Shares, when issued upon such conversion, will be duly and
validly issued, fully paid and nonassessable, free of any preemptive rights under applicable law or
its Restated Certificate of Incorporation, as amended, or similar rights pursuant to any agreement
to which Compound is a party, and free of any restriction on transfer, except pursuant to the
Investors Rights Agreement, as amended, Stockholders’ Voting Agreement, as amended, and the Right
of First Refusal Agreement, as amended, and applicable federal and state securities laws. The
rights, privileges and preferences of the Series A Convertible Preferred Stock will be as stated in
the Restated Certificate of Incorporation, as amended; (iv) the execution, delivery and performance
by Compound of this Assignment Agreement, and the consummation by Compound of the transactions
contemplated hereby, have been duly authorized by all necessary corporate action; this Assignment
Agreement has been duly executed and delivered by Compound and constitutes a valid and binding
obligation of Compound enforceable in accordance with its terms, subject as to enforcement of
remedies to applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
generally the enforcement of creditors’ rights and subject to a court’s discretionary authority
with respect to the granting of a decree ordering specific performance or other equitable remedies;
the execution and delivery of this Assignment Agreement, the consummation of the transactions
contemplated hereby and the compliance with its provisions by Compound will not (a) conflict with
or violate any provision of the Restated Certificate of Incorporation of Compound, (b) require on
the part of Compound any filing with, or any permit, order, authorization, consent or approval of,
any

 

 

H&D Comments 12/10/03

court, arbitrational tribunal, administrative agency or commission or other governmental or
regulatory authority or agency (each, a “Governmental Entity”), (c) conflict with, result in a
breach of, constitute (with or without due notice or lapse of time or both) a default under, result
in the acceleration of obligations under, create in any party the right to accelerate, terminate,
modify or cancel, or require any notice, consent or waiver under, any contract, lease, sublease,
license, sublicense, franchise, permit, indenture, agreement or mortgage for borrowed money,
instrument of indebtedness, any mortgage, pledge, security interest, encumbrance, charge, or other
lien (whether arising by contract or by operation of law) (a “Security Interest”) or other
arrangement to which Compound is a party or by which Compound is bound or to which its assets are
subject, other than any of the foregoing events listed in this clause (c) which do not and will
not, individually or in the aggregate, have a Material Adverse Effect, (d) result in the imposition
of any Security Interest upon any assets of Compound or (e) violate any order, writ, injunction,
decree, statute, rule or regulation applicable to Compound or any of its properties or assets; (v)
no consent, approval, order or authorization of, or registration, qualification, designation,
declaration or filing with, any Governmental Entity is required on the part of Compound in
connection with the issuance of the Shares, the issuance of the shares of Common Stock issuable
upon conversion of the Shares or in connection with the closing of the transactions contemplated
hereby, except such filings as shall have been made prior to and shall be effective on and as of
the closing of the transactions contemplated hereby and such filings required to be made after such
closing under applicable federal and state securities laws, and will be made by Compound in
accordance with such laws; and (vi) based on the representations made by GE Capital in this
Assignment Agreement, the issuance of the Shares will be in compliance with applicable federal and
state securities laws.

 

 

H&D Comments 12/10/03

     G. The maximum liability of Compound to GE Capital in respect of breaches of any such
representations or warranties, shall not exceed in the aggregate, $1,000,000.

          7. Further Documents. GE Capital and Compound agree to execute the Notice of
Assignment of Claim annexed hereto as Exhibit “F” and each agree to further execute any of the
documents, and take such further actions, as the other may reasonably require to effectuate the
terms of this Assignment Agreement and to cooperate and assist in enforcing the Assigned Interest.
GE Capital hereby waives any notice requirement imposed by Rule 3001 of the Federal Rules of
Bankruptcy Procedure and any applicable local bankruptcy rules, and consents to the substitution of
Compound for GE Capital for all purposes in the Bankruptcy Case, including, without limitation, for
purposes of voting and receipt of distributions with respect to the Assigned Interest. The Notice
of Assignment of Claim attached to this Assignment Agreement and incorporated herein by reference
may be filed by Compound with the Bankruptcy Court as evidence of the transfer. GE Capital hereby
waives any objection to the transfer of the Assigned Interest, and stipulates and agrees that an
order may be entered recognizing this Assignment Agreement as an unconditional assignment and
Compound herein as the valid owner of the Assigned Interest. GE Capital grants unto Compound full
authority to do all things reasonably necessary to enforce the Assigned Interest and GE Capital’s
rights thereunder pursuant to this Assignment Agreement, including the exercise of voting or
similar rights with respect to the Assigned Interest.

     8. Challenge To Assigned Interest. In the event that the Assigned Interest is
disallowed in whole or in part by consent or by order of the Court, Compound agrees that GE Capital
shall have no liability as long as the amount allowed is no less than $1,300,000. To the extent
that the Assigned Interest is reduced to an amount less than such amount, then GE Capital shall be
liable to Compound for damages in an amount equal to the difference between (a) what

 

 

H&D Comments 12/10/03

Compound would have received as a distribution in the Bankruptcy Proceeding had the Assigned
Interest been allowed in the amount of $1,300,000; and (b) the amount Compound actually received as
a distribution in the Bankruptcy Proceeding on its allowed claim (this difference, the
“Shortfall”). Compound shall have no authority to consent to the reduction below $1,300,000 of the
Assigned Interest without GE Capital’s specific written consent (which shall not be unreasonably
withheld) unless with respect to such proposed reduced amount, Compound will not seek any damages
from GE Capital. If any action, motion or other proceeding is undertaken by the Debtor, a trustee
or any other party in interest to reduce, expunge, avoid, challenge or modify (a “Claim Reduction”)
GE Capital’s Assigned Interest, then GE Capital shall be entitled to control all decisions with
respect to a Claim Reduction (including the defense of any motion or adversary proceeding), in each
case at GE Capital’s sole cost and expense, unless Compound agrees in writing not to seek any
damages from GE Capital as a result of a Claim Reduction.

     9. Miscellaneous. This Agreement shall be binding upon and inure to the benefit of
GE Capital and Compound and their respective successors and assigns. This Agreement shall be
governed by and construed in accordance with the laws of the State of Connecticut, constitutes the
full and complete agreement of the parties and may not be modified, except in a writing signed by
all parties hereto. This Agreement may be executed by facsimile signature and in counterparts with
the same force and effect as if executed in a single, integrated original document. GE Capital
agrees that in the event GE Capital shall receive any payments or distributions or notices with
respect to or relating to the Assigned Interest after the date hereof, GE Capital shall accept the
same as Compound’s agent and shall hold the same in trust on behalf of and for the sole benefit of
Compound, and shall promptly deliver the same forthwith to Compound in the same form received (free
of any withholding, set-off, claim or deduction of any kind), within two (2) business days in the
case of cash and within five (5) business days in the

 

 

H&D Comments 12/10/03

case of other property, which are in good deliverable form with the endorsement of GE Capital when
necessary or appropriate. All representations and warranties contained herein shall survive the
execution and delivery of this Assignment Agreement and the purchase and sale of the Assigned
Interest and shall inure to the benefit of and be binding upon the parties hereto and their
respective successors and assigns.

     10. Indemnity. Compound hereby and herewith indemnifies GE Capital and holds it
harmless (including reasonable legal fees) with respect to any action taken by Compound under the
Loan Documents or with respect to the Assigned Interest from and after the date hereof. GE
Capital hereby indemnifies and holds Compound harmless (including reasonable legal fees), from and
against any claims or damages Compound may sustain as a result of any actions of GE Capital with
respect to the Loan Documents or the Assigned Interest taken prior to the date hereof.

     11. Effectiveness. The effectiveness of this Assignment Agreement shall occur upon
the execution and delivery by the parties of all documents with respect to the contemplated Term
Loan and the issuance of the Shares including those specified in Section 2 hereof. If for any
reason the Term Loan, this Assignment Agreement, the issuance of shares and the delivery of
documents contemplated hereby do not occur on or before December 31, 2003, then, on written notice
to the other, all the contemplated transactions may be declared null and void.

 

 

H&D Comments 12/10/03

     IN WITNESS WHEREOF, this Assignment Agreement has been executed and delivered as of the date
first written above.

	 	 	 	 	 	 	 
	 	 	GENERAL ELECTRIC CAPITAL CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	COMPOUND THERAPEUTICS INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Its:

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