Document:

Exhibit

Exhibit 10.1

SIXTH AMENDMENT TO LOAN AND SECURITY AGREEMENT 
AND TO OTHER LOAN DOCUMENTS

THIS SIXTH AMENDMENT TO LOAN AND SECURITY AGREEMENT AND TO OTHER LOAN DOCUMENTS (this “Amendment”) is made as of April 20, 2017, by and between LEX-GEN WOODLANDS, L.P., a Delaware limited partnership (“Borrower”), and iSTAR LEX LENDER LLC, a Delaware limited liability company (together with its successors and assigns, hereinafter referred to as “Lender”), with offices at c/o iStar Inc., 1114 Avenue of the Americas, 38th Floor, New York, New York 10036.
RECITALS
A.    Borrower and iStar Financial Inc., a Maryland corporation (“Original Lender”) entered into a Loan and Security Agreement dated as of April 21, 2004 (the “Original Loan  Agreement”), as amended by that certain Amendment to Loan and Security Agreement and to other Loan Documents dated as of September 28, 2009 (the “First Amendment”); that certain Second Amendment to Loan and Security Agreement and to other Loan Documents dated as of June 17, 2011 (the “Second Amendment”); that certain Third Amendment to Loan and Security Agreement and to other Loan Documents dated as of August 30, 2011 (the “Third Amendment”); that certain Fourth Amendment to Loan and Security Agreement and to other Loan Documents dated as of September 17, 2013 (the “Fourth Amendment”); and that certain Fifth Amendment to Loan and Security Agreement and to other Loan Documents dated as of October 2, 2013 (the “Fifth Amendment”) (the Original Loan Agreement, as amended by such First Amendment, Second Amendment, Third Amendment, Fourth Amendment and Fifth Amendment, is herein called the “Loan Agreement”), pursuant to which, among other things, Lender agreed to make a loan to Borrower in the principal amount of Thirty-Four Million Dollars ($34,000,000) (the “Loan”) upon the terms and conditions set forth in the Loan Agreement.  Capitalized terms used in this Amendment but not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement.  The Loan is evidenced by that certain Promissory Note of even date with the Loan Agreement in the principal amount of the Loan (the “Note”) and is secured by, among other things, (i) that certain Deed of Trust with Security Agreement, Assignment of Leases and Rents and Fixture Filing of even date with the Loan Agreement, recorded in the Official Records of Montgomery County, Texas (“Official Records”), as Document No. 2004-042420 (the “Mortgage”), covering the Property more particularly described on Exhibit A attached hereto and made a part hereof, and (ii) that certain Guaranty of even date with the Loan Agreement (“Guaranty”) in favor of Original Lender made by Lexicon Genetics Incorporated, which is now known as Lexicon Pharmaceuticals, Inc., a Delaware corporation.
B.    The Loan Documents were assigned by Original Lender to iSTAR TARA LLC, a Delaware limited liability company (“iStar Tara”), pursuant to that certain Assignment and Assumption of Note, Mortgage, and Other Loan Documents made as of March 1, 2009, recorded in the Official Records as Document No. 2009-022702 (the “First Assignment”) and then subsequently assigned (i) by iStar Tara to SFI Belmont LLC, a Delaware limited liability company (“SFI Belmont”), pursuant to that certain Assignment and Assumption of Note, Deed of Trust and Other Loan Documents made as of March 16, 2011 and recorded in the Official Records as Document No. 2011039443 and (ii) by SFI Belmont to Lender pursuant to that certain Assignment and Assumption of Note, Deed of Trust and Other Loan Documents made as of March 26, 2015, and recorded in the Official Records as Document No. 2015027704.
  

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C.    Borrower has requested an extension of the Maturity Date of the Loan as contemplated by this Amendment, and Lender is willing to consent to such modification, all upon the terms and subject to the conditions set forth herein.
AGREEMENT
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Incorporation of Recitals.  The foregoing Recitals are incorporated herein and expressly made a part hereof.
2.Amendment to Loan Agreement.
(a)The definition of “Maturity Date” in Section 2.4(B) of the Loan Agreement and all references in the other Loan Documents to the Maturity Date shall mean April 21, 2018, or such earlier date as the Loan is prepaid in full or accelerated.
(c)    A new Section 2.4(D) is hereby added to the Loan Agreement immediately following Section 2.4(C)(iii) and immediately before Section 2.5, which new Section 2.4(D) provides as follows:
(D)    Upon the Maturity Date or such other date as the Loan is prepaid, in whole, but not in part, Borrower shall pay Lender the Exit Interest (as defined herein) in addition to, and not in limitation of, all other Obligations under the Loan Documents.  As used herein, “Exit Interest” means an amount equal to $632,656.97, reduced by all payments of interest computed at the Base Rate, received by Lender for the period following April 20, 2017, until such Maturity Date or prepayment date, as applicable; provided, however, that Exit Interest may be reduced to but not below zero.
(d)    A new Section 5.20 is hereby added immediately after Section 5.19 and immediately before Section 6, which new Section 5.20 provides as follows:
5.20.  At all times from and after April 1, 2017, Borrower and Guarantor covenant and agree that either Borrower or Guarantor shall maintain Liquid Assets (as defined below) of not less than $50,000,000 (the “Liquid Assets Covenant”).  “Liquid Assets” shall mean the following:  (1) cash or cash equivalents held in the United States; (2) United States Treasury or governmental agency obligations backed by the full faith and credit of the United States of America; (3) commercial paper related P-1 or A1 by Moody’s or S&P, respectively; (4) medium and long-term securities rated investment grate by one of the rating agencies described in (c) above; (5) Eligible Stocks (as defined below); and (6) mutual funds quoted in the Wall Street Journal which invest primarily in the assets described in (1) - (5) above.  “Eligible Stocks” shall mean any common or preferred stock which (i) is not subject to statutory or contractual restrictions and is freely saleable on the public market, or (ii) is traded on the New York Stock Exchange, American Stock Exchange, or included in the National Market tier of NASDAQ.  On a quarterly basis and as part of the delivery of quarterly financial statements as required in Section 5.1, Borrower or Guarantor, as applicable, shall provide Lender a certification on behalf of such party that such party is in compliance with the Liquid Assets Covenant set forth herein in form reasonably acceptable to Lender.
(e)    Schedule 2.3, Amortization Schedule, to the Loan Agreement is hereby amended and restated to be Schedule 2.3, Amortization Schedule, attached to this Amendment.

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3.Amendments to Other Loan Documents.  All references in each of the Loan Documents to the Loan Agreement shall refer to the Loan Agreement, as amended hereby, as such Loan Agreement may be further amended from time to time.
4.Consent.  Borrower has requested and Lender hereby consents to Borrower’s demolition of 89,600 square feet of the unoccupied former animal science buildings 2 and 5 (the “Demolition”) as an Alteration permitted under Section 7.14 of the Loan Agreement, except that such consent (which shall satisfy condition (5)(z) of said Section 7.14) shall be conditioned on Borrower’s compliance with the remaining conditions set forth in conditions (1), (2), (3), (4) and (6) of said Section 7.14.  For the avoidance of doubt, Borrower and Lender agree that the third and fourth sentences of said Section 7.14 shall not apply to the Demolition.
5.Conditions Precedent.  Borrower agrees that it shall be a condition precedent to the effectiveness of this Amendment that, among other things, all of the following shall have been satisfied promptly and in any event within the time periods specified below:
(a)    Within five (5) Business Days following Borrower’s receipt from Lender of an invoice setting forth the amounts due and payable with respect thereto, Borrower shall have paid the actual out-of-pocket fees and expenses of Lender reasonably incurred in connection with this Amendment, including reasonable fees and disbursements of Lender’s attorneys; 
(b)    Within five (5) Business Days following the date of this Amendment, Borrower shall have furnished to Lender an affidavit stating the following:
		
	i.
	that there have been no modifications to Borrower’s Articles of Organization that have not been previously delivered to Lender; 

		
	ii.
	that Borrower is in good standing in the State of Delaware; and

		
	iii.
	that Borrower is qualified to conduct business in the State of Texas.

(c)    Within five (5) Business Days following the date of this Amendment, Borrower shall have paid Lender a fee in the amount of $78,755.00 as an extension fee for the Loan.

6.Representations and Warranties.  In order to induce Lender to execute this Amendment, Borrower represents and warrants as follows:
(a)    This Amendment, and any other documents and instruments required to be executed and delivered by Borrower in connection herewith, when executed and delivered, will constitute the duly authorized, valid and legally binding obligations of Borrower, and will be enforceable in accordance with their respective terms, subject only to bankruptcy and insolvency laws of general applicability and the application of general principles of equity.
(b)    The execution, delivery and performance of this Amendment will not: (i) violate any laws or (ii) conflict with, be inconsistent with, or result in any breach or default of any of the terms, covenants, conditions, or provisions of any indenture, mortgage, deed of trust, corporate charter or bylaws, instrument, document, agreement or contract of any kind to which Borrower is a party or by which Borrower may be bound.  
(c)    To Borrower’s knowledge, Borrower is not in default (beyond applicable grace or cure periods) under any contract or agreement to which Borrower is a party, the effect of which default will materially adversely affect the performance by Borrower of its representative obligations pursuant to and as contemplated by the terms and provisions of this Amendment.

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(d)    Borrower hereby represents and warrants that as of the date hereof, Borrower has no defenses, claims, offsets or setoffs with regard to the enforcement of the Loan Documents as modified hereby.
7.Miscellaneous.
(a)    Borrower agrees that the Loan Agreement, the Note and each other Loan Document, as amended by this Amendment, remain in full force and effect in accordance with the previously existing terms thereof, as amended by this Amendment, and such documents and instruments are hereby ratified and confirmed.
(b)    This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.
(c)    This Amendment shall be construed in accordance with and governed by the internal laws of the State of New York, except that the creation, perfection and enforcement of the Liens and security interests created pursuant to the Mortgage shall be governed and construed according to the law of the state of Texas, it being understood that to the fullest extent permitted by the laws of Texas, the law of the State of New York shall govern the Loan Agreement, the Notes and the other Loan Documents as set forth in Section 11.8 of the Loan Agreement. 
(d)    The parties hereto expressly acknowledge and agree that this Amendment shall not be construed as a novation of the Note, the Mortgage or any other Loan Document.
(e)    All of the Mortgaged Property shall remain in all respects subject to the lien, charge and encumbrance of the Mortgage, as herein modified, and nothing herein contained and nothing done pursuant hereto, shall affect the lien, charge or encumbrance of the Mortgage, as herein modified, or the priority thereof with respect to other liens, charges, encumbrances or conveyances, or release or affect the liability of any part or parties whomsoever, who may now or hereafter be liable under, or on account of, the Loan Documents.
(f)    The execution and delivery of this Amendment does not constitute a waiver of any default under the Note, Mortgage or any of the other Loan Documents; provided, however, that Lender hereby acknowledges that it is not aware of any defaults under the Loan Documents.
(g)    Time is hereby declared to be of the essence of this Amendment and of every part hereof.
[Signatures Follow on the Next Page]

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Exhibit 10.1

IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first above written.

BORROWER:

LEX-GEN WOODLANDS, L.P., a Delaware limited partnership

		
	By:
	Lex-Gen Woodlands GP, LLC, a Delaware limited liability company, its sole general partner

By:    ____________________________
Name:    ____________________________
Title:    ____________________________
                    

LENDER:
                    
iSTAR LEX LENDER LLC, a Delaware
limited liability company
                    
By:    ____________________________
Name:    ____________________________
Title:    ____________________________

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Exhibit 10.1

CONSENT OF GUARANTOR
The undersigned, being the “Guarantor” under the Guaranty, hereby consents to the foregoing Sixth Amendment to Loan and Security Agreement and to Other Loan Documents and hereby agrees to be bound by the terms and requirements of the new Section 5.20 of the Loan Agreement (added pursuant to Section 2(d) of the foregoing Sixth Amendment to Loan and Security Agreement and to Other Loan Documents), as part of Guarantor’s Obligations under the Guaranty.  The undersigned agrees that the Guaranty, as supplemented provided above, is and shall remain in full force and effect, and that as of the date hereof (i) the Guaranty, as supplemented as provided above, is ratified and confirmed hereby, (ii) no defenses or offsets exist to the enforcement thereof, and (iii) Guarantor has no Claims against Lender with respect thereto.  All capitalized terms used in this Consent of Guarantor shall have the meaning ascribed to such terms in the Amendment to which this Consent of Guarantor is attached.
LEXICON PHARMACEUTICALS, INC.
(formerly known as Lexicon Genetics
Incorporated), a Delaware corporation
                    
By:    ____________________________
Name:    ____________________________
Title:    ____________________________

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Exhibit 10.1

Exhibit A
Legal Description

TRACT 1
METES AND BOUNDS DESCRIPTION
12.359 ACRES
HENRY APPLEWHITE SURVEY, ABSTRACT NUMBER 51
JOHN TAYLOR SURVEY, ABSTRACT NUMBER 547
MONTGOMERY COUNTY, TEXAS
Being a tract or parcel containing 12.359 acres of land situated in the Henry Applewhite Survey, Abstract Number 51 and the John Taylor Survey, Abstract Number 547, Montgomery County, Texas; being all of Restricted Reserve "A" (called 12.359 acres), The Woodlands Medical Research Park, Section 9, a subdivision plat recorded in Cabinet O, Sheet 180 Montgomery County Map Records (M.C.M.R.), Montgomery County, Texas; said 12.359 acre tract being more particularly described as follows (bearings are referenced to the record information contained in the above described subdivision plat);
BEGINNING at a 5/8-inch iron rod with plastic cap stamped "Terra Surveying" set marking the south end of a 25-foot cut-back line at the intersection of the northeasterly right-of-way (R.O.W.) line of Research Forest Drive (160-foot wide R.O.W.) with the southeasterly R.O.W. line of Technology Forest Place (width varies), said iron rod marking the most southerly west corner of said Restricted Reserve "A" and the herein described tract;
THENCE, North 01°27'36" West, along said southeasterly R.O.W. line of Technology Forest Place, along said cut-back line and along the west line of said Restricted Reserve "A", a distance of 35.36 feet to a 5/8-inch iron rod with cap found marking the north end of said 25-foot cut-back line and marking the most northerly west corner of said Restricted Reserve "A" and the herein described tract;
THENCE, North 43°32'24" East, continuing along said southeasterly R.O.W. line of Technology Forest Place and along the northwesterly line of said Restricted Reserve "A", a distance of 1,060.00 feet to a 5/8-inch iron rod with cap found marking the west end of a 25-foot cut-back line and marking the most westerly north corner of said Restricted Reserve "A" and the herein described tract;
THENCE, North 88°32'24" East, continuing along said southeasterly R.O.W. line, along said cutback line and along the north line of said Restricted Reserve "A", a distance of 35.36 feet to a 5/8-inch iron rod with cap found marking the east end of said cut-back line and marking the intersection of said southeasterly R.O.W. line of Technology Forest Place with the southwesterly R.O.W. line of New Trails Drive (80-foot wide R.O.W.), said iron rod marking the most easterly north corner of said Restricted Reserve "A" and the herein described tract;
THENCE, South 46°27'36" East, along said southwesterly R.O.W. line of New Trails Drive and along the northeasterly line of said Restricted Reserve "A", a distance of 460.59 feet to a 5/8-inch iron rod with cap found marking the most northerly corner of Restricted Reserve "A", Medical Research Park, Section 4, a 

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subdivision plat recorded in Cabinet G, Sheet 51A, M.C.M.R., said iron rod marking the most easterly corner of said Restricted Reserve "A", The Woodlands Medical Research Park, Section 9 and the herein described tract;
THENCE, South 43°32'24" West, departing said southwesterly R.O.W. line of New Trails Drive, along the northwesterly line of said Restricted Reserve "A", Medical Research Park, Section 4, and along the southeasterly line of said Restricted Reserve "A", The Woodlands Medical Research Park, Section 9, at a distance of 742.00 feet passing a 5/8-inch iron rod with cap found marking the most northerly corner of Restricted Reserve "A", The Woodlands Medical Research Park, Section 1, a subdivision plat recorded in Cabinet E, Sheet 163B and 164A M.C.M.R. and marking the most westerly corner of said Section 4, continuing along southeasterly line of said Restricted Reserve "A", The Woodlands Medical Research Park, Section 9 and along the northwesterly line of said Restricted Reserve "A", The Woodlands Medical Research Park, Section 1, in all, a distance of 1,110.00 feet to a 5/8-inch iron rod with plastic cap stamped "Terra Surveying" set in the aforesaid northeasterly R.O.W. line of Research Forest Drive, marking the most westerly corner of said Restricted Reserve "A", The Woodlands Medical Research Park, Section 1 and marking the most southerly corner of said Restricted Reserve "A", The Woodlands Medical Research Park, Section 9 and the herein described tract;
THENCE, North 46°27'36" West, along said northeasterly R.O.W. line of Research Forest Drive and along the southwesterly line of said Restricted Reserve "A", a distance of 460.59 feet to the POINT OF BEGINNING and containing 12.359 acres (538,380 square feet) of land. This description is based on the ALTA/ACSM Land Title Survey and plat made by Terra Surveying Co., dated April, 2003, updated April 2004, Project Number 1851-0316-S.

TRACT 3

A non-exclusive easement for vehicular and pedestrian ingress and egress created under the Reciprocal Easement Agreement by and between Woodlands Office Equities-’95 Limited and First Security Bank, National Association, not individually, but solely as Owner Trustee under the Lexi Trust 2000-1 dated as of December 8, 2000, and recorded under the County Clerk’s File No. 2000-104008 and the Real Property Records of Montgomery County, Texas. 

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Exhibit 10.1

Schedule 2.3
Amortization Schedule

See Attached

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Page 10

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Page 13Exhibit 10.1

 

SERVICE

 

AGREEMENT

 

between

 

Bio-Incubator Gent 2 NV

 

and

 

argenx bvba

 

 

THIS AGREEMENT is made on the 1st day of April 2016 BETWEEN:

 

(1)                       Bio-Incubator Gent 2 NV, a public limited liability company (“naamloze vennootschap”) validly incorporated and existing under the laws of Belgium, with registered offices at B-9000 Gent, Karel van de Woestijnestraat 3, registered with the Cross Road bank of Ghent under number BE 0550.658.112, duly represented by Gengest BVBA, General Manager (“gedelegeerd bestuurder”), permanently represented by Mr Rudi Mariën (hereinafter referred to as the “Service Provider”);

 

AND

 

(2)                       argenx bvba, a limited liability company (“besloten vennootschap met beperkte aansprakelijkheid”) validly incorporated and existing under the laws of Belgium, with registered office at Industriepark 7, 9052 Zwijnaarde, Belgium registered with the Cross Road bank of Antwerp under number 0818.292.196, duly represented by Tim Van Hauwermeiren, (hereinafter referred to as the “Service Receiver”).

 

The Service Provider and the Service Receiver are hereinafter referred to jointly as the “Parties” and individually also as a “Party”.

 

Whereas:

 

A.            The Service Provider is the owner of the building site located on Industriepark 7, 9052 Ghent (Zwijnaarde) named “BioScape”.

 

B.            BioScape is a business service centre fully dedicated to biomedical life sciences and offers opportunities for companies with a significant focus on research and development activities. BioScape provides offices and lab facilities with high level technical specifications and provides a range of shared services, fully fitted to the needs of the users. BioScape is offering in total four buildings which each have several modules that offer state of the art lab and office facilities surrounded by a green park and parking facilities. Currently only building block C of BioScape (“Building Block C”) is in process of being finalized. The other three building blocks (A, B and D) are to be built. The characteristics of Building Block C are further set out in the BioScape technical manual regarding Building Block C set out in annex 1 hereto (the “Technical Manual”).

 

C.            BioScape is located closely to the Technology Park Zwijnaarde (the UGent technology park) and has the commitment of VIB (“Vlaams Instituut voor Biotechnologie”) to actively and diligently pursue the innovation opportunities created and generated by its researchers.

 

D.            BioScape is established by the Service Provider in response to the increasing demand for specialised incubation space in the life sciences sector in the Ghent area.

 

2

 

E.             The Service Receiver and its group companies are active as a biopharmaceutical group and wish to carry out their professional activities in BioScape. It is important to the Service Receiver to have access to total packages of services offered by the Service Provider, under the terms and conditions of this service agreement (the “Agreement”).

 

It is therefore agreed as follows:

 

ARTICLE 1 — Service Pack

 

The Service Provider offers to the Service Receiver the right to exercise its professional activities in the offices and lab facilities in BioScape and offers a broad range of supporting services adapted to the needs and requirements of the Service Receiver (hereinafter collectively referred to as the “Service Pack”). The Service Pack is indivisible and is further described as follows:

 

Article 1.1. — Exclusive Use of the Modules

 

1.1.1.                  As part of the Service Pack, the Service Provider will deliver at the exclusive disposal of the Service Receiver office, lab and storage modules (the “Modules”). The Modules are located in Building Block C, in accordance with the plan in the annex to this Agreement, as follows:

 

·                  Cellar : 214 m2

·                  Floor 0 : 526 m2

·                  Floor 1 : 608 m2

 

The floor design of the Modules (including the lab and office furniture) are further set out in the in annex 2 hereto (the “Floor Design of the Modules”) and annex 3 hereto (the “Bill of Quantities”), in addition to the descriptions included in the Technical Manual.

 

1.1.2.                  The Service Receiver accepts the Module(s) as set out in 1.1.1.

 

1.1.3.                  Any installation of lab equipment particular to the Service Receiver (such as microscopes or specialized lab equipment), are at the Service Receiver’s expenses, and require the prior approval of the Service Provider to the extent that they are material and require modifications to the building or the Modules. This lab equipment will be installed in strict compliance with any legislation, regulations and norms while taking into account all permits obtained by the Service Provider for BioScape, advice of the relevant authorities and insurance companies, concerning fire protection, implementation of the employment regulation, or any other applicable legislation, regulations or norms.

 

1.1.4.                  It is explicitly acknowledged and agreed by the Service Receiver that the measurements as set out above are net amounts and are indicated in good faith and for information purposes only. Consequently, in case of misstatement of the surface as mentioned above, the Parties are not entitled to apply for an increase or a reduction of compensation as set out in Article 2.

 

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Article 1.2. — Common Used Infrastructure

 

As part of the Service Pack, the Service Provider will put at the disposal of the Service Receiver the following common infrastructure facilities and utilities of BioScape, all in accordance to BioScape’s internal regulations:

 

A.            Meeting rooms

 

·             2 equipped meeting rooms in the common areas of Building Block C for a total of 50 hours per month.

 

B.            Common Areas

 

The Service Receiver will have access to the following common areas of BioScape.

 

·             Bicycle parking

·             Garden

·             Entrance hall per building block

·             1 central reception desk with print facilities (copy corner) for BioScape

·             Sanitary units (toilets — showers), including toilets for disabled persons

·             Corridors

·             Staircase and elevators

·             Waste containers

·             Gas storage

 

Article 1.3. — General and supporting Services

 

As part of the Service Pack, the Service Provider offers at BioScape the following general and supporting services to the Service Receiver. It is explicitly acknowledged and agreed by the Service Receiver that in case it desires not to use (part of) these general and supporting services put at his disposal by the Service Provider, the Service Receiver will not be entitled to any reduction of the Service Fee.

 

1.3.1.                  Common use of office equipment

 

The Service Provider offers the Service Receiver at BioScape a staffed central reception desk including a copy corner (print — fax — scan and copier).

 

Use of this copy corner is provided in the Service Fee.

 

A Consumption Fee per printed page will be charged separately as set out in Article 2.4.2.

 

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1.3.2.                  ICT infrastructure:

 

At BioScape, the Service Provider puts at the disposal of the Service Receiver an IT and connectivity infrastructure in accordance with the Technical Manual.

 

1.3.3.                  Reception

 

As of 2017, the Service Provider, through its facility manager for BioScape, puts at the disposal of the Service Receiver a professionally staffed central reception desk and administrative support, namely a personalized telephone answering service and handling of incoming mail during office hours.

 

1.3.4.                  Cleaning service

 

The Service Pack further includes a general cleaning service for both the common areas as well as the office and lab facilities of the Service Receiver and this 2 times per week (on different days).

 

1.3.5.                  Maintenance of the premises (parking, green zone, driveway, ... )

 

The Service Pack includes the maintenance (including periodic conformity certification) of the BioScape premises, such as the parking lot, the green zone, drive way, sewerage, HVAC, high voltage cabinet, elevators, plumbing etc.

 

1.3.6.                  Security

 

The Service Provider has put in place a security system for the entire BioScape premises, as well as an access control system for all its users.

 

The Service Receiver will receive a number of entrance cards to BioScape and a number of keys of the inside doors reasonably required by the Service Receiver to provide adequate access to the premises. The entrance cards and keys provided to the Service Receiver will be returned at the end of the Agreement.

 

1.3.7.                  Waste handling

 

The Service Provider has put in place a system for central waste handling (separate handling for office waste, lab waste, hazardous waste) on the BioScape premises.

 

A Consumption Fee for the external collection of lab waste and hazardous waste will be charged separately as set out in Article 2.4.2.

 

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1.3.8.                  VIB Collaboration:

 

Furthermore the Service Provider has secured via VIB the following service as part of the Service Pack:

 

·                  Access to VIB’s network of knowledge (scientists, government, industry, etc....);

·                  Reference function to IWT, Administration of Economy, investors, research institutes, FFIO.

 

Article 1.4. - Parking spaces

 

The Service Provider puts at the disposal of the Service Receiver 36 individualised outdoor parking places as long as the parking building is not available. Once the parking building as described in the Technical Manual is available, the Service Receiver will use the parking facilities at the new building instead, where individualised parking spaces will be assigned to the Service Receiver. The individualised parking spaces will be charged separately as set out in Article 2.2. Shared parking places will be identified by the Service Provider for use by visitors of the BioScape premises.

 

Article 1.5. — Additional Services on request of the Service Receiver

 

As soon as the facility manager at BioScape is operational (currently anticipated in the beginning of 2017), the Service Provider, at the request of the Service Receiver and upon mutual agreement between the Parties, will put at the disposal of the Service Receiver the following additional services and support:

 

·                  Courier services

·                  Catering services

·                  Environmental coordinator

·                  Conference center with a maximum capacity of 100 pax

 

These services are not included in the Service Fee as set out in Article 2.1, and will be invoiced separately in accordance with Article 2.4.3.

 

ARTICLE 2 — Service Fee

 

2.1.                           As consideration for the Service Pack as set out in Article 1, and in accordance with the terms and conditions described in said article, the Service Receiver will pay to the Service Provider a Service Fee.

 

The Service fee amounts to 462,081 EUR (excl. VAT) per year or 38,507 EUR (excl. VAT) per month.

 

This Service Fee includes all taxes, expenses and insurances with regard to the business service centre (i.e. the building, the Module(s) and the common used infrastructure).

 

The Service Fee further includes consumption of current utilities (water, gas, electricity) for an amount of 20.220,00 EUR (excl. VAT) per year, reflecting an amount of 15 EUR(excl. VAT) per net sqm

 

6

 

per year Consumption in excess usage will be charged based upon the actual use as set out in Article 2.4.1. For the avoidance of doubt it is stipulated that in case the use would be less than the included amount, there will be no reduction of the Service Fee.

 

It is explicitly acknowledged and agreed that in case the Service Receiver would not (want to) use certain Services included in the Service Pack as set out in Article 1, this will not entitle the Service Receiver to any reduction of the Service Fee.

 

2.2.                           Parking fee: 550 EUR (excl. VAT) per outdoor parking space per year, or 19.800 EUR (excl. VAT) per year for 36 individualized outdoor parking spaces. Upon completion of the parking building 900 EUR (excl. VAT) per indoor parking space per year, or 32.400 EUR (excl. VAT) per year, for 36 individualized indoor parking spaces (the “Parking Fee”).

 

2.3.                           The total sum of Service Fee and Parking Fee (the “Total Fee”) will annually be indexed based on the Belgian Consumer Price Index (CPI) in accordance with the following formula:

 

(Service Fee + Parking Fee) x New Index

CPI Index March 2016

 

The components of this formula are defined as follows:

 

·                  Total Fee: sum of Service Fee and Parking Fee

 

·                  Service Fee: Service Fee as defined in Article 2.1. of this Agreement;

·                  Parking Fee: Parking Fee as defined in Article 2.2. of this Agreement;

 

·                  New index: the CPI index for the month preceding the month of the anniversary of the entry into force of the Agreement;

·                  CPI Index 2016: the last updated CPI Index in the month March of 2016.

 

2.4.                           Separately charged Consumption Fees

 

2.4.1                    The consumption of current utilities (water, gas, electricity) above an amount of 20.220,00 EUR (excl. VAT) per year, reflecting an amount of 15 EUR (excl. VAT) per net sqm per year, will be settled at the end of the year after checking the meters registering the Service Receiver’s consumption. In the following year, the Service Receiver will pay a monthly advance equal to one twelfth of the total consumption of the preceding year (being the 20.220 EUR + excess) with a minimum of 20.220,00 EUR per year (excl. VAT) per year.

 

2.4.2.                 The following fees for consumption, if any, will be charged in addition to the Service Fee (the “Consumption Fees”) as incurred:

 

·                  0,10 EUR per page copied/printed in black/white in the copy corner as referred to in Article 1.3.1

·                  0,50 EUR per page copied/printed in colour in the copy corner as referred to in Article 1.3.1

·                  the actual costs for telephone use as provided by the telecom provider, increased with a 10% coordination fee

 

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·                  the actual costs for the collection of the lab and hazardous waste by a third party as set out in Article 1.3.7, increased with a 10% coordination fee

·                  any costs for additional services agreed upon in writing in accordance with Article 1.5

 

2.4.3.                 If the Service Receiver is relying on the Service Provider for providing one or more services as set out in Article 1.5., the services provided and the compensation will be agreed upon by the Parties taking into account the specific nature and magnitude of the assistance and support expected from the Service Provider.

 

2.5.                           The Total Fee as set out in Article 2.3. and the advance payments for the utilities as set out in Article 2.4.1. are payable on a monthly basis. Payment will be due in advance on the 5th calendar day of each month at the latest. With the effective date on April 1st 2016 first payment will be due on April 5th 2016. The payment has to be carried out by means of a domiciliation or a standing order on account number BE91 7350 3610 2576 - BIC: KREDBEBB.

 

2.6.                           Payment of the additional services as set out in Article 2.4., when due, will be invoiced by the Service Provider to the Service Receiver separately. The final payment will be settled within 15 days after issuing of the invoice.

 

2.7.                           In case of failing payment within 15 calendar days, a late payment interest will be due automatically at the rate of 1% per month on the outstanding amount, without any notice of default being due by the Service Provider with a minimum of EUR 125 in order to cover administrative expenses.

 

2.8.                           The Service Receiver is entitled to the following discounts:

 

·                  In case of no early termination of the Agreement by the Service Receiver at the sixth anniversary, the Service Receiver will be entitled to a one-off discount of 60,000 EUR (excl. VAT) on the Total Fee of the month following the sixth anniversary.

·                  On the ninth anniversary of this Agreement, regardless of any termination on or after that date, the Service Receiver will be entitled to an additional discount of 60,000 EUR (excl. VAT).

 

ARTICLE 3 — Term and Termination

 

3.1.                           This Agreement is entered into for a fixed term of 9 years as of 1 April 2016 and will automatically expire on March 31 2025.

 

3.2.                           Each Party will have the right to terminate this Agreement at the occasion of the third and sixth anniversary of this Agreement by giving notice by registered mail to the other Party at least 12 months in advance. Notice becomes effective on the next business day following its dispatch.

 

3.3.                           The Service Provider and the Service Receiver can each terminate this Service Agreement at all times with immediate effect, without prior notice or indemnification:

 

(i) In the event of bankruptcy, judicial reorganisation or an amicable settlement in the sense of the Act of Continuity of Enterprises (“Wet Continuïteit van Ondernemingen”), the

 

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appointment of a trustee, or the dissolution and/or liquidation of the other Party;

 

(ii) In the event the Service Receiver would be in breach of one of the material obligations arising from this Agreement and would fail to remedy such breach within fifteen (15) days following a default letter by registered mail to correct the deficiency; and

 

(iii) In the event the Service Provider would be in breach of one of the material obligations arising from the Service Agreement and would fail to remedy such breach within fifteen (15) days following a default letter by registered mail to correct the deficiency.

 

The Parties will not be liable for breaches of one of the material obligations arising from this Agreement when caused by circumstances beyond their control.

 

3.4.                           Upon the termination of the Agreement, the Service Provider has the right to empty the Modules at the Service Receiver’s expenses and to restore them in their original condition, and to store the objects, equipment and stock of the Service Receiver (if any) elsewhere at the Service Receiver’s expenses.

 

3.5.                           In case of expropriation for public purposes of (part of) BioScape, this Agreement will come to an end by right on the date of the appropriation of the premises by the expropriating government. The compensations which the Service Receiver might claim from the expropriating government will in no case be deductible from the amount indebted to the Service Provider.

 

ARTICLE 4 - Deposit

 

As guarantee for payment of the Services, the Service Receiver will pay within 5 days after signing the Agreement, but at all times prior to moving into the premises, the value of four months Service Fee, being an amount of EUR 154,028 into a blocked account. This guarantee will be released by the Service Provider at the termination of the Agreement and after fulfilment of all obligations by the Service Receiver under this Agreement.

 

ARTICLE 5 — Obligations of the Service Receiver

 

5.1.                           The Service Receiver may use the Module(s) put at its disposal exclusively for the following professional activities: Bio-Pharmaceutical activities

 

Any changes to or extension of the professional activities of the Service Receiver in the Module(s) must be submitted to the Service Provider in due time for approval and be accepted in advance and in writing by the Service Provider.

 

5.2.                           It is explicitly acknowledged and agreed by the Service Receiver that it is not allowed to change or modify the office furniture.

 

5.3.                           The Service Receiver shall be responsible for removal of the lab and hazardous waste from the Modules to the appropriate waste containers put at its disposal at BioScape by the Service Provider.

 

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5.4.                           The Service Receiver has to comply with the permits obtained by the Service Provider in relation to BioScape in order to establish its business and shall obtain any permits and/or authorisations required for its particular activities in the Module(s). The Service Provider cannot be held responsible if, by lack of permits or authorisations, which are necessary for the Service Receiver and which are required by any applicable law whatsoever, the professional activities of the Service Receiver have to be suspended in whole or in part, or if further special provisions have to be made.

 

5.5.                           The Service Receiver will align himself to the environmental permit that the Service Provider obtained for the exploitation of BioScape. The Service Receiver declares that he will respect all the conditions of the Service Provider’s environmental permit, of which a copy was transmitted to the Service Receiver. The Service Receiver takes full responsibility and liability for any infringement of the stipulations included in the environmental permit.

 

5.6.                           The Service Receiver will take all necessary precautions in order to avoid that its activities cause material or immaterial damages to the Service Provider, BioScape or the other service receivers in BioScape.

 

ARTICLE 6 — Insurances

 

6.1.                           The Service Provider sufficiently insures BioScape, as well as the furniture and equipment of the common areas against fire, lightning, explosion, electricity damage, glass breakage, water damage, storm and hail. The Service Provider and its insurers mutually waive any recourse against the Service Receiver in case of damage as mentioned above. The Service Provider will inform its insurer of this waiver of recourse and will make sure that its insurer accepts this waiver of recourse.

 

If the activity of the Service Receiver would cause an increase of the premiums paid by the Service Provider this increase will be exclusively chargeable to the Service Receiver.

 

The Parties to this Agreement mutually waive any recourse against one another as well as against the other service receivers in BioScape and persons at their service, on account of damages they would incur as a result of the insured risks, except in the event of a criminal, fraudulent or malicious act or gross negligence.

 

6.2.                           The Service Receiver will sufficiently insure at his expense all its lab equipment placed in the Modules as referred to in Clause 1.1.3. (including those which become immovable by destination) against fire, lightning, explosion, electricity damage, glass breakage, water damage, storm and hail. The Service Receiver and its insurer waive any recourse against the Service Provider and its insurer and against any other service receiver in BioScape in case of damage as mentioned above. The Service Receiver will inform its insurer of this waiver of recourse and will make sure its insurer accepts this waiver of recourse.

 

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The Service Receiver also has to sufficiently insure any other third party liability.

 

Upon first request, the Service Receiver shall present each year the evidences of fulfilment of these obligations to the Service Provider for inspection.

 

ARTICLE 7 — Limitation of liability

 

7.1.                           All advice provided by (or through consultancy) the Service Provider in favour of the Service Receiver, falls outside the responsibility or liability of the Service Provider. The Service Receiver explicitly agrees that all activities and services rendered by the Service Provider never can be interpreted as a participation in the decision-making process in the Service Receiver’s enterprise.

 

7.2.                           Except in case of fraud, wilful misconduct or gross negligence, the Service Provider will not be liable towards the Service Receiver in case the technical equipment of BioScape would fail. The Service Receiver will not have the right to claim damages as a result of such failure. Therefore the Service Receiver also waives any remedy against the Service Provider in the event of an accidental interruption or malfunctioning of the services and installations in BioScape and the common parts thereof, except in case of fraud, wilful misconduct or gross negligence. This limitation of liability of the Service Provider does not apply if the Service Provider, following notification of such interruption or malfunctioning, has not taken all reasonable steps to repair it.

 

7.3.                           In case the Service Receiver would have opted not to make use (part) of certain general and supporting services put at his disposal by the Service Provider (e.g. internet, CO2, oxygen), but appoints his own providers, the Service Provider cannot be held liable towards the Service Receiver for these services provided through these service providers. The Service Receiver will hold harmless the Service Provider for damages to BioScape’s infrastructure as a result of the malfunctioning of these own insourced services.

 

ARTICLE 8 — Internal Rules of Regulations

 

As soon as the facility manager at BioScape is operational (currently anticipated in the beginning of 2017), a set of internal regulations and the instructions to assure the smooth functioning at BioScape by all its users will be put in place.

 

The provisions of said rules will supplement this Agreement and will form an integral part of it. The Service Receiver agrees to adhere to the internal rules and regulations and to any changes and improvements made to the rules which will be notified as set out in Article 13.5. and will be binding upon the expiration of one (1) month after sending the changes and/or improvements. In case of any conflict between the provisions of said rules and this Agreement, the Agreement shall prevail.

 

The Service Receiver will inform its directors / employees / agents and any visitors of BioScape’s regulations.

 

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In the meantime, the Service Receiver will use the offices, lab facilities, common area’s and services as diligent service receiver.

 

ARTICLE 9 — Description and Inventory of the premises

 

Parties will, at the start of the Agreement and in all cases before the Service Receiver is moving into BioScape, jointly prepare an incoming description of all area’s goods and infrastructure, the office and the ICT infrastructure referred to in Article 1. The same will take place at the occasion of termination of the Agreement. The Parties agree that the statements will be drawn up in the presence of both Parties, by an independent expert appointed by the Service Provider which must be acceptable to the Service Receiver. If the expert appointed by the Service Provider is not acceptable to the Service Receiver, the Service Receiver will notify the Service Provider thereof as soon as reasonably possible. In such event, the independent expert will, within two weeks as of the first request of the most diligent party, be appointed by the Justice of Peace (‘Vrederechter’) competent for the location. If the expert is appointed by the Service Provider, the Service Provider will bear the costs of such expert. If the expert is appointed by the Justice of Peace, the costs will be shares equally between the Parties.

 

The amount of the possible damages (other than normal wear and tear) at the termination shall also be determined by the aforementioned expert. If there are damages (other than normal wear and tear), the expert shall at the same time, determine the time period during which the Module(s) will not be available for occupation. In this case, the Service Receiver shall owe the Service Provider, without recourse and without prejudice to its other obligations, a minimum compensation equal to the Total Fee that was applicable to such Module at the end of the Agreement, per month of inoccupation that results from the repair works to be carried out. Each started month accounts for a whole month. The reports of the expert chosen by the Parties or appointed by the judge will be binding upon the Parties, who renounce expressly to any kind of appeal or remedy (except in the event of fraud, material error, miscalculation or contradiction). The expert(s)’ report will be an integral part of this Agreement.

 

Upon termination of the Agreement, the Service Receiver is bound to return the Module(s) in its (their) original state and in its original condition, except for normal wear and tear and free of its own equipment installed as set out in article 1.1.3.

 

Any necessary repairs and/or removing of the lab equipment of the Service Provider will be carried out by the Service Provider at the expense of Service Receiver in line with the provisions of this Agreement.

 

ARTICLE 10 — Inspection Rights

 

The Service Provider has at all times the right to inspect the Modules, after having informed the Service Receiver within at least 48 hours prior to the inspection, in order to allow the Service

 

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Receiver adequate possibility to protect any confidential information. For the avoidance of doubt, this notice period applies to inspections but not to emergency situations where the Service Provider urgently needs to access the premises due to calamities such as fire, flood or hurricanes.

 

Two months before the end of the termination of the Agreement, and also when BioScape is set for sale in whole or in part, the Service Receiver shall allow that clearly visible posters are affixed. It will allow the prospective new service receivers and/ or buyers to visit the premises on two half days per week, from 9 to 11 a.m. and from 2 to 4 p.m., or any other time to be stipulated by mutual consent. To the extent reasonably required by the Service Receiver, the Service Provider will ensure that prospective new service receivers and/ or buyers will enter into customary duties of confidentiality with regard to any information they might receive access to through access of the premises.

 

ARTICLE 11 — Costs and expenses

 

Each party will bear its own costs and expenses in connection with the preparation of this Agreement.

 

ARTICLE 12 — Confidentially

 

To the extent permitted by applicable law to which the Parties are subject, the Parties agree to keep the content of this Agreement confidential. Disclosure is permitted, but on a “need to know” basis only, to their respective officers and directors, each of whom are bound by appropriate duties of confidentiality pursuant to which they are under the obligation to keep such information confidential. Any permitted disclosures will be limited to what is necessary to achieve the purpose of such permitted disclosure.

 

Article 13.1. — Miscellaneous

 

13.1                       In the event administrative or judiciary proceedings are initiated against the Service Provider due to the activity or the presence of the Service Receiver in BioScape, the Service Receiver commits to intervene voluntarily in such proceedings and to hold the Service Provider completely harmless in this respect.

 

13.2.                    In the event that any provision (or portion thereof) of this Agreement (including in respect of one but not both Parties) would be held to be invalid or unenforceable, such invalidity or unenforceability shall not affect the validity or enforceability of any other provision of this Agreement (and the same provisions as they apply to Parties in respect of which they are not invalid or unenforceable) and the Parties shall enter into good faith negotiations to replace the invalid or unenforceable provision (or portion thereof) by a valid and enforceable provision that achieves the Parties’ original intent to the fullest extent possible, while respecting to any possible extent the initial balance of the Parties’ rights and obligations.

 

13.3.                    This Agreement shall be interpreted in accordance with, and governed by, the laws of Belgium (without regard to the conflicts of law provisions thereof). Any disputes arising in connection with or out of this Agreement and/or the execution thereof shall be settled by

 

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competent courts of the judicial district of Ghent.

 

13.4.                    Unless otherwise provided for in this Agreement, the Service Receiver may not assign or transfer any of its rights and obligations hereunder in any other way without the prior written consent of the Service Provider, except in case of a legal merger or legal de-merger or similar corporate restructuring. This Agreement shall be binding upon and inure to the benefit of the approved successors and assigns of the Parties.

 

13.5.                    Any notice to be given under or in connection with this Agreement must be in writing in English or Dutch and shall be validly given with respect to each Party if sent by registered mail or sent by fax and confirmed by e-mail (with confirmation of delivery) to the addresses and fax numbers set out below.

 

Any notice shall be deemed to have been given on the next day provided that the e-mail (with confirmation of delivery) has been sent before 13h00 and provided that that day is a business day. If such day is not a business day the notice shall be deemed to have been given on the first business day thereafter.

 

	
The Service   Receiver:
    
   Contact name : Eric Castaldi
   Function : CFO
   Address: Address of the premises
   Always with a copy to:
   ecastaldi@argenx.com and
   tvhauwermeiren@argenx.com
    	
The Service Provider:
    
   Contact name : Stefan Marien
   Function :
   Address: Karel van de Woestijnestraat
   9000 Gent
   E-Mail:stefan.marien@biovest.be
    

 

13.6.                    This Agreement and its exhibits identified herein or therein contain the entire agreement between the Parties and replace any verbal declaration or written document made or entered into prior to the date of this Agreement related to the same subject matter.

 

13.7.                    No failure or delay by any Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any singular or partial exercise thereof preclude any other or further exercise thereof or exercise of any right, power or privilege hereunder.

 

Remainder of page intentionally left blank.

 

14

 

SIGNATURES

 

Made in two originals on 1 April 2016, in Ghent. Each Party declares to have received one original.

 

	
For and on behalf of the Service   Provider,
    	
 
    	
For and on behalf of the Service   Receiver,
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Rudi Marien
    	
 
    	
/s/ Tim Van Hauwermeiren
    
	
Name: Gengest BVBA
    	
 
    	
Name : argenx bvba
    
	
Represented by: Rudi Marien
    	
 
    	
Represented by : Tim Van Hauwermeiren
    
	
Title: General Manager Bio-Incubator Gent 2 NV
    	
 
    	
Title : CEO
    

 

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ANNEX 1: Technical Manual

 

16

 

ANNEX 2: Floor Design of the Modules

 

17

 

ANNEX 3: Bill of Quantities

 

18

 

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SERVICE

 

AGREEMENT

 

between

 

Bio-Incubator Gent 2 NV

 

and

 

argenx bvba

 

 

THIS AGREEMENT is made on the 1st day of April 2016 BETWEEN:

 

(1)                       Bio-Incubator Gent 2 NV, a public limited liability company (“naamloze vennootschap”) validly incorporated and existing under the laws of Belgium, with registered offices at B-9000 Gent, Karel van de Woestijnestraat 3, registered with the Cross Road bank of Ghent under number BE 0550.658.112, duly represented by Gengest BVBA, General Manager (“gedelegeerd bestuurder”), permanently represented by Mr Rudi Mariën (hereinafter referred to as the “Service Provider”);

 

AND

 

(2)                       argenx bvba, a limited liability company (“besloten vennootschap met beperkte aansprakelijkheid”) validly incorporated and existing under the laws of Belgium, with registered office at Industriepark 7, 9052 Zwijnaarde, Belgium registered with the Cross Road bank of Antwerp under number 0818.292.196, duly represented by Tim Van Hauwermeiren, (hereinafter referred to as the “Service Receiver”).

 

The Service Provider and the Service Receiver are hereinafter referred to jointly as the “Parties” and individually also as a “Party”.

 

Whereas:

 

A.            The Service Provider is the owner of the building site located on Industriepark 7, 9052 Ghent (Zwijnaarde) named “BioScape”.

 

B.            BioScape is a business service centre fully dedicated to biomedical life sciences and offers opportunities for companies with a significant focus on research and development activities. BioScape provides offices and lab facilities with high level technical specifications and provides a range of shared services, fully fitted to the needs of the users. BioScape is offering in total four buildings which each have several modules that offer state of the art lab and office facilities surrounded by a green park and parking facilities. Currently only building block C of BioScape (“Building Block C”) is in process of being finalized. The other three building blocks (A, B and D) are to be built. The characteristics of Building Block C are further set out in the BioScape technical manual regarding Building Block C set out in annex 1 to the First Service Agreement (the “Technical Manual”).

 

C.            BioScape is located closely to the Technology Park Zwijnaarde (the UGent technology park) and has the commitment of VIB (“Vlaams Instituut voor Biotechnologie”) to actively and diligently pursue the innovation opportunities created and generated by its researchers.

 

D.            BioScape is established by the Service Provider in response to the increasing demand for specialised incubation space in the life sciences sector in the Ghent area.

 

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E.             The Service Receiver and its group companies are active as a biopharmaceutical group and wish to carry out their professional activities in BioScape and have already entered into a service agreement with the Service Provider regarding the ground floor and first floor of Building C at Bioscape (the “First Service Agreement”). Due to the growth and further expansion of the Service Receiver, it is important to the Service Receiver to have access to an additional total package of services offered by the Service Provider, under the terms and conditions of this service agreement (the “Agreement”).

 

It is therefore agreed as follows:

 

ARTICLE 1 — Service Pack

 

The Service Provider offers to the Service Receiver the right to exercise its professional activities in the offices and lab facilities in BioScape and offers a broad range of supporting services adapted to the needs and requirements of the Service Receiver (hereinafter collectively referred to as the “Service Pack”). The Service Pack is indivisible and is further described as follows:

 

Article 1.1. — Exclusive Use of the Modules

 

1.1.1.                  As part of the Service Pack, the Service Provider will deliver at the exclusive disposal of the Service Receiver office, lab and storage modules (the “Modules”). The Modules are located in Building Block C, in accordance with the plan in the annex to the First Service Agreement, as follows:

 

·                  Cellar : 107m2

·                  Floor 2 : 608m2

 

The floor design of the Modules (including the lab and office furniture) are further set out in the in annex 2 hereto (the “Floor Design of the Modules”) and annex 3 hereto (the “Bill of Quantities”), in addition to the descriptions included in the Technical Manual.

 

1.1.2.                  The Service Receiver accepts the Module(s) as set out in 1.1.1. The Service Receiver acknowledges and agrees that the Modules are at the date of entering into force of this Agreement not fully up and running and need to be fully or partially finalized.  Service Receiver will finish the Modules as soon as possible and will consult with the Service Receiver regarding timing and logistical organisation.

 

1.1.3.                  Any installation of lab equipment particular to the Service Receiver (such as microscopes or specialized lab equipment), are at the Service Receiver’s expenses, and require the prior approval of the Service Provider to the extent that they are material and require modifications to the building or the Modules. This lab equipment will be installed in strict compliance with any legislation, regulations and norms while taking into account all permits obtained by the Service Provider for BioScape, advice of the relevant authorities and insurance companies, concerning fire protection, implementation of the employment regulation, or any other applicable legislation, regulations or norms.

 

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1.1.4.                  It is explicitly acknowledged and agreed by the Service Receiver that the measurements as set out above are net amounts and are indicated in good faith and for information purposes only. Consequently, in case of misstatement of the surface as mentioned above, the Parties are not entitled to apply for an increase or a reduction of compensation as set out in Article 2.

 

Article 1.2. — Common Used Infrastructure

 

As part of the Service Pack, the Service Provider will put at the disposal of the Service Receiver the following common infrastructure facilities and utilities of BioScape, all in accordance to BioScape’s internal regulations:

 

A.            Meeting rooms

 

·             2 equipped meeting rooms in the common areas of Building Block C for a total of 50 hours per month.

 

B.            Common Areas

 

The Service Receiver will have access to the following common areas of BioScape.

 

·             Bicycle parking

·             Garden

·             Entrance hall per building block

·             1 central reception desk with print facilities (copy corner) for BioScape

·             Sanitary units (toilets — showers), including toilets for disabled persons

·             Corridors

·             Staircase and elevators

·             Waste containers

·             Gas storage

 

Article 1.3. — General and supporting Services

 

As part of the Service Pack, the Service Provider offers at BioScape the following general and supporting services to the Service Receiver. It is explicitly acknowledged and agreed by the Service Receiver that in case it desires not to use (part of) these general and supporting services put at his disposal by the Service Provider, the Service Receiver will not be entitled to any reduction of the Service Fee.

 

1.3.1.                  Common use of office equipment

 

The Service Provider offers the Service Receiver at BioScape a staffed central reception desk including a copy corner (print — fax — scan and copier).

 

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Use of this copy corner is provided in the Service Fee.

 

A Consumption Fee per printed page will be charged separately as set out in Article 2.4.2.

 

1.3.2.                  ICT infrastructure:

 

At BioScape, the Service Provider puts at the disposal of the Service Receiver an IT and connectivity infrastructure in accordance with the Technical Manual.

 

1.3.3.                  Reception

 

As of 2017, the Service Provider, through its facility manager for BioScape, puts at the disposal of the Service Receiver a professionally staffed central reception desk and administrative support, namely a personalized telephone answering service and handling of incoming mail during office hours.

 

1.3.4.                  Cleaning service

 

The Service Pack further includes a general cleaning service for both the common areas as well as the office and lab facilities of the Service Receiver and this 2 times per week (on different days).

 

1.3.5.                  Maintenance of the premises (parking, green zone, driveway, ... )

 

The Service Pack includes the maintenance (including periodic conformity certification) of the BioScape premises, such as the parking lot, the green zone, drive way, sewerage, HVAC, high voltage cabinet, elevators, plumbing etc.

 

1.3.6.                  Security

 

The Service Provider has put in place a security system for the entire BioScape premises, as well as an access control system for all its users.

 

The Service Receiver will receive a number of entrance cards to BioScape and a number of keys of the inside doors reasonably required by the Service Receiver to provide adequate access to the premises. The entrance cards and keys provided to the Service Receiver will be returned at the end of the Agreement.

 

1.3.7.                  Waste handling

 

The Service Provider has put in place a system for central waste handling (separate handling for office waste, lab waste, hazardous waste) on the BioScape premises.

 

A Consumption Fee for the external collection of lab waste and hazardous waste will be charged separately as set out in Article 2.4.2.

 

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1.3.8.                  VIB Collaboration:

 

Furthermore the Service Provider has secured via VIB the following service as part of the Service Pack:

 

·                  Access to VIB’s network of knowledge (scientists, government, industry, etc....);

·                  Reference function to IWT, Administration of Economy, investors, research institutes, FFIO.

 

Article 1.4. - Parking spaces

 

The Service Provider puts at the disposal of the Service Receiver 8 individualised outdoor parking places as long as the parking building is not available. Once the parking building as described in the Technical Manual is available, the Service Receiver will use the parking facilities at the new building instead, where individualised parking spaces will be assigned to the Service Receiver. It is explicitly agreed by the Service Receiver that it will, as of then onwards, no longer be allowed to use the outdoor parking. The individualised parking spaces will be charged separately as set out in Article 2.2. Shared parking places will be identified by the Service Provider for use by visitors of the BioScape premises.

 

Article 1.5. — Additional Services on request of the Service Receiver

 

As soon as the facility manager at BioScape is operational (currently anticipated in the beginning of 2017), the Service Provider, at the request of the Service Receiver and upon mutual agreement between the Parties, will put at the disposal of the Service Receiver the following additional services and support:

 

·                  Courier services

·                  Catering services

·                  Environmental coordinator

·                  Conference center with a maximum capacity of 100 pax

 

These services are not included in the Service Fee as set out in Article 2.1, and will be invoiced separately in accordance with Article 2.4.3.

 

ARTICLE 2 — Service Fee

 

2.1.                           As consideration for the Service Pack as set out in Article 1, and in accordance with the terms and conditions described in said article, the Service Receiver will pay to the Service Provider a Service Fee.

 

The Service fee amounts to 269,659 EUR (excl. VAT) per year or 22,472 EUR (excl. VAT) per month.

 

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This Service Fee includes all taxes, expenses and insurances with regard to the business service centre (i.e. the building, the Module(s) and the common used infrastructure).

 

The Service Fee further includes consumption of current utilities (water, gas, electricity) for an amount of 11,475 EUR (excl. VAT) per year, reflecting an amount of 15 EUR (excl. VAT) per net sqm per year Consumption in excess usage will be charged based upon the actual use as set out in Article 2.4.1. For the avoidance of doubt it is stipulated that in case the use would be less than the included amount, there will be no reduction of the Service Fee.

 

It is explicitly acknowledged and agreed that in case the Service Receiver would not (want to) use certain Services included in the Service Pack as set out in Article 1, this will not entitle the Service Receiver to any reduction of the Service Fee.

 

2.2.                           Parking fee: 880 EUR (excl. VAT) per outdoor parking space per year, or 7.040 EUR (excl. VAT) per year for 8 individualized outdoor parking spaces. Upon completion of the parking building 1,000 EUR (excl. VAT) per indoor parking space per year, or 8,000  EUR (excl. VAT) per year, for 8 individualized indoor parking spaces (the “Parking Fee”).

 

2.3.                           The total sum of Service Fee and Parking Fee (the “Total Fee”) will annually be indexed based on the Belgian Consumer Price Index (CPI) in accordance with the following formula:

 

(Service Fee + Parking Fee) x New Index

CPI Index March 2016

 

The components of this formula are defined as follows:

 

·                  Total Fee: sum of Service Fee and Parking Fee

 

·                  Service Fee: Service Fee as defined in Article 2.1. of this Agreement;

·                  Parking Fee: Parking Fee as defined in Article 2.2. of this Agreement;

 

·                  New index: the CPI index for the month preceding the month of the anniversary of the entry into force of the Agreement;

·                  CPI Index 2016: the last updated CPI Index in the month March of 2016.

 

2.4.                           Separately charged Consumption Fees

 

2.4.1                    The consumption of current utilities (water, gas, electricity) above an amount of 11,475 EUR (excl. VAT) per year, reflecting an amount of 15 EUR (excl. VAT) per net sqm per year, will be settled at the end of the year after checking the meters registering the Service Receiver’s consumption. In the following year, the Service Receiver will pay a monthly advance equal to one twelfth of the total consumption of the preceding year (being the 11,475 EUR + excess) with a minimum of 11,475 EUR per year (excl. VAT) per year.

 

2.4.2.                 The following fees for consumption, if any, will be charged in addition to the Service Fee (the “Consumption Fees”) as incurred:

 

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·                  0,10 EUR per page copied/printed in black/white in the copy corner as referred to in Article 1.3.1

·                  0,50 EUR per page copied/printed in colour in the copy corner as referred to in Article 1.3.1

·                  the actual costs for telephone use as provided by the telecom provider, increased with a 10% coordination fee

·                  the actual costs for the collection of the lab and hazardous waste by a third party as set out in Article 1.3.7, increased with a 10% coordination fee

·                  any costs for additional services agreed upon in writing in accordance with Article 1.5

 

2.4.3.                 If the Service Receiver is relying on the Service Provider for providing one or more services as set out in Article 1.5., the services provided and the compensation will be agreed upon by the Parties taking into account the specific nature and magnitude of the assistance and support expected from the Service Provider.

 

2.5.                           The Total Fee as set out in Article 2.3. and the advance payments for the utilities as set out in Article 2.4.1. are payable on a monthly basis. Payment will be due in advance on the 5th calendar day of each month at the latest. With the effective date on April 1st 2016 first payment will be due on April 5th 2016. The payment has to be carried out by means of a domiciliation or a standing order on account number BE91 7350 3610 2576 2576 - BIC: KREDBEBB.

 

2.6.                           Payment of the additional services as set out in Article 2.4., when due, will be invoiced by the Service Provider to the Service Receiver separately. The final payment will be settled within 15 days after issuing of the invoice.

 

2.7.                           In case of failing payment within 15 calendar days, a late payment interest will be due automatically at the rate of 1% per month on the outstanding amount, without any notice of default being due by the Service Provider with a minimum of EUR 125 in order to cover administrative expenses.

 

ARTICLE 3 — Term and Termination

 

3.1.                           This Agreement is entered into for a fixed term of 9 years as of 1 April 2016 and will automatically expire on March 31 2025.

 

3.2.                           Each Party will have the right to terminate this Agreement at the occasion of the third and sixth anniversary of this Agreement by giving notice by registered mail to the other Party at least 12 months in advance. Notice becomes effective on the next business day following its dispatch.

 

3.3.                           The Service Provider and the Service Receiver can each terminate this Service Agreement at all times with immediate effect, without prior notice or indemnification:

 

(i) In the event of bankruptcy, judicial reorganisation or an amicable settlement in the sense

 

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of the Act of Continuity of Enterprises (“Wet Continuïteit van Ondernemingen”), the appointment of a trustee, or the dissolution and/or liquidation of the other Party;

 

(ii) In the event the Service Receiver would be in breach of one of the material obligations arising from this Agreement and would fail to remedy such breach within fifteen (15) days following a default letter by registered mail to correct the deficiency; and

 

(iii) In the event the Service Provider would be in breach of one of the material obligations arising from the Service Agreement and would fail to remedy such breach within fifteen (15) days following a default letter by registered mail to correct the deficiency.

 

The Parties will not be liable for breaches of one of the material obligations arising from this Agreement when caused by circumstances beyond their control.

 

3.4.                           Upon the termination of the Agreement, the Service Provider has the right to empty the Modules at the Service Receiver’s expenses and to restore them in their original condition, and to store the objects, equipment and stock of the Service Receiver (if any) elsewhere at the Service Receiver’s expenses.

 

3.5.                           In case of expropriation for public purposes of (part of) BioScape, this Agreement will come to an end by right on the date of the appropriation of the premises by the expropriating government. The compensations which the Service Receiver might claim from the expropriating government will in no case be deductible from the amount indebted to the Service Provider.

 

ARTICLE 4 - Deposit

 

As guarantee for payment of the Services, the Service Receiver will pay within 5 days after signing the Agreement, but at all times prior to moving into the premises, the value of four months Service Fee, being an amount of EUR 89,888 into a blocked account. This guarantee will be released by the Service Provider at the termination of the Agreement and after fulfilment of all obligations by the Service Receiver under this Agreement.

 

ARTICLE 5 — Obligations of the Service Receiver

 

5.1.                           The Service Receiver may use the Module(s) put at its disposal exclusively for the following professional activities: Bio-Pharmaceutical activities

 

Any changes to or extension of the professional activities of the Service Receiver in the Module(s) must be submitted to the Service Provider in due time for approval and be accepted in advance and in writing by the Service Provider.

 

5.2.                           It is explicitly acknowledged and agreed by the Service Receiver that it is not allowed to change or modify the office furniture.

 

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5.3.                           The Service Receiver shall be responsible for removal of the lab and hazardous waste from the Modules to the appropriate waste containers put at its disposal at BioScape by the Service Provider.

 

5.4.                           The Service Receiver has to comply with the permits obtained by the Service Provider in relation to BioScape in order to establish its business and shall obtain any permits and/or authorisations required for its particular activities in the Module(s). The Service Provider cannot be held responsible if, by lack of permits or authorisations, which are necessary for the Service Receiver and which are required by any applicable law whatsoever, the professional activities of the Service Receiver have to be suspended in whole or in part, or if further special provisions have to be made.

 

5.5.                           The Service Receiver will align himself to the environmental permit that the Service Provider obtained for the exploitation of BioScape. The Service Receiver declares that he will respect all the conditions of the Service Provider’s environmental permit, of which a copy was transmitted to the Service Receiver. The Service Receiver takes full responsibility and liability for any infringement of the stipulations included in the environmental permit.

 

5.6.                           The Service Receiver will take all necessary precautions in order to avoid that its activities cause material or immaterial damages to the Service Provider, BioScape or the other service receivers in BioScape.

 

ARTICLE 6 — Insurances

 

6.1.                           The Service Provider sufficiently insures BioScape, as well as the furniture and equipment of the common areas against fire, lightning, explosion, electricity damage, glass breakage, water damage, storm and hail. The Service Provider and its insurers mutually waive any recourse against the Service Receiver in case of damage as mentioned above. The Service Provider will inform its insurer of this waiver of recourse and will make sure that its insurer accepts this waiver of recourse.

 

If the activity of the Service Receiver would cause an increase of the premiums paid by the Service Provider this increase will be exclusively chargeable to the Service Receiver.

 

The Parties to this Agreement mutually waive any recourse against one another as well as against the other service receivers in BioScape and persons at their service, on account of damages they would incur as a result of the insured risks, except in the event of a criminal, fraudulent or malicious act or gross negligence.

 

6.2.                           The Service Receiver will sufficiently insure at his expense all its lab equipment placed in the Modules as referred to in Clause 1.1.3. (including those which become immovable by destination) against fire, lightning, explosion, electricity damage, glass breakage, water damage, storm and hail. The Service Receiver and its insurer waive any recourse against the Service Provider and its insurer and against any other service receiver in BioScape in case of

 

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damage as mentioned above. The Service Receiver will inform its insurer of this waiver of recourse and will make sure its insurer accepts this waiver of recourse.

 

The Service Receiver also has to sufficiently insure any other third party liability.

 

Upon first request, the Service Receiver shall present each year the evidences of fulfilment of these obligations to the Service Provider for inspection.

 

ARTICLE 7 — Limitation of liability

 

7.1.                           All advice provided by (or through consultancy) the Service Provider in favour of the Service Receiver, falls outside the responsibility or liability of the Service Provider. The Service Receiver explicitly agrees that all activities and services rendered by the Service Provider never can be interpreted as a participation in the decision-making process in the Service Receiver’s enterprise.

 

7.2.                           Except in case of fraud, wilful misconduct or gross negligence, the Service Provider will not be liable towards the Service Receiver in case the technical equipment of BioScape would fail. The Service Receiver will not have the right to claim damages as a result of such failure. Therefore the Service Receiver also waives any remedy against the Service Provider in the event of an accidental interruption or malfunctioning of the services and installations in BioScape and the common parts thereof, except in case of fraud, wilful misconduct or gross negligence. This limitation of liability of the Service Provider does not apply if the Service Provider, following notification of such interruption or malfunctioning, has not taken all reasonable steps to repair it.

 

7.3.                           In case the Service Receiver would have opted not to make use (part) of certain general and supporting services put at his disposal by the Service Provider (e.g. internet, CO2, oxygen), but appoints his own providers, the Service Provider cannot be held liable towards the Service Receiver for these services provided through these service providers. The Service Receiver will hold harmless the Service Provider for damages to BioScape’s infrastructure as a result of the malfunctioning of these own insourced services.

 

ARTICLE 8 — Internal Rules of Regulations

 

As soon as the facility manager at BioScape is operational (currently anticipated in the beginning of 2017), a set of internal regulations and the instructions to assure the smooth functioning at BioScape by all its users will be put in place.

 

The provisions of said rules will supplement this Agreement and will form an integral part of it. The Service Receiver agrees to adhere to the internal rules and regulations and to any changes and improvements made to the rules which will be notified as set out in Article 13.5. and will be binding

 

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upon the expiration of one (1) month after sending the changes and/or improvements. In case of any conflict between the provisions of said rules and this Agreement, the Agreement shall prevail.

 

The Service Receiver will inform its directors / employees / agents and any visitors of BioScape’s regulations.

 

In the meantime, the Service Receiver will use the offices, lab facilities, common area’s and services as diligent service receiver.

 

ARTICLE 9 — Description and Inventory of the premises

 

Parties will, at the start of the Agreement and in all cases before the Service Receiver is moving into BioScape, jointly prepare an incoming description of all area’s goods and infrastructure, the office and the ICT infrastructure referred to in Article 1. The same will take place at the occasion of termination of the Agreement. The Parties agree that the statements will be drawn up in the presence of both Parties, by an independent expert appointed by the Service Provider which must be acceptable to the Service Receiver. If the expert appointed by the Service Provider is not acceptable to the Service Receiver, the Service Receiver will notify the Service Provider thereof as soon as reasonably possible. In such event, the independent expert will, within two weeks as of the first request of the most diligent party, be appointed by the Justice of Peace (‘Vrederechter’) competent for the location. If the expert is appointed by the Service Provider, the Service Provider will bear the costs of such expert. If the expert is appointed by the Justice of Peace, the costs will be shares equally between the Parties.

 

The amount of the possible damages (other than normal wear and tear) at the termination shall also be determined by the aforementioned expert. If there are damages (other than normal wear and tear), the expert shall at the same time, determine the time period during which the Module(s) will not be available for occupation. In this case, the Service Receiver shall owe the Service Provider, without recourse and without prejudice to its other obligations, a minimum compensation equal to the Total Fee that was applicable to such Module at the end of the Agreement, per month of inoccupation that results from the repair works to be carried out. Each started month accounts for a whole month. The reports of the expert chosen by the Parties or appointed by the judge will be binding upon the Parties, who renounce expressly to any kind of appeal or remedy (except in the event of fraud, material error, miscalculation or contradiction). The expert(s)’ report will be an integral part of this Agreement.

 

Upon termination of the Agreement, the Service Receiver is bound to return the Module(s) in its (their) original state and in its original condition, except for normal wear and tear and free of its own equipment installed as set out in article 1.1.3.

 

Any necessary repairs and/or removing of the lab equipment of the Service Provider will be carried out by the Service Provider at the expense of Service Receiver in line with the provisions of this Agreement.

 

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ARTICLE 10 — Inspection Rights

 

The Service Provider has at all times the right to inspect the Modules, after having informed the Service Receiver within at least 48 hours prior to the inspection, in order to allow the Service Receiver adequate possibility to protect any confidential information. For the avoidance of doubt, this notice period applies to inspections but not to emergency situations where the Service Provider urgently needs to access the premises due to calamities such as fire, flood or hurricanes.

 

Two months before the end of the termination of the Agreement, and also when BioScape is set for sale in whole or in part, the Service Receiver shall allow that clearly visible posters are affixed. It will allow the prospective new service receivers and/ or buyers to visit the premises on two half days per week, from 9 to 11 a.m. and from 2 to 4 p.m., or any other time to be stipulated by mutual consent. To the extent reasonably required by the Service Receiver, the Service Provider will ensure that prospective new service receivers and/ or buyers will enter into customary duties of confidentiality with regard to any information they might receive access to through access of the premises.

 

ARTICLE 11 — Costs and expenses

 

Each party will bear its own costs and expenses in connection with the preparation of this Agreement.

 

ARTICLE 12 — Confidentially

 

To the extent permitted by applicable law to which the Parties are subject, the Parties agree to keep the content of this Agreement confidential. Disclosure is permitted, but on a “need to know” basis only, to their respective officers and directors, each of whom are bound by appropriate duties of confidentiality pursuant to which they are under the obligation to keep such information confidential. Any permitted disclosures will be limited to what is necessary to achieve the purpose of such permitted disclosure.

 

ARTICLE 13 — Special Conditions

 

13.1. The 2 meeting rooms

 

For as long as the Service Receiver is using the entire Building Block C as the only service receiver at BioScape, the 2 meeting rooms as referred to in Article 1.2.A. above for a total of app. 50 sqm, will be put at the exclusive disposal of the Service Receiver without limitation on the use.

 

In case the Service Receiver is no longer the only service receiver using Building Block C (i.e. this Agreement is terminated or the service agreement regarding the ground and first floor would be terminated), the Service Receiver will no longer be entitled to the exclusive use of these two meeting rooms. In that case the Service Fee as described in Article 2 will be reduced with 17,851 EUR per year or 1,488 EUR per month.

 

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13.2. Cellar

 

For as long as the Service Receiver is using the entire Building Block C as the only service receiver at BioScape, the Service Receiver will have at its exclusive disposal an additional cellar with a total of app. 98 sqm without any further charges.

 

In case the Service Receiver is no longer the only service receiver using Building Block C (i.e. this Agreement is terminated or the service agreement regarding the ground and first floor would be terminated), the Service Receiver will no longer be entitled to use this cellar and will empty the cellar in line with the principles set out in this Agreement.

 

13.3. Parking

 

13.3.1. As set out in Article 1.4 the Service Receiver is entitled to 8 individualised parking spaces. For as long as the parking building is not completed, the Service Receiver will be allowed to use the outdoor parking space at a Parking Fee of 7,044 EUR per year or 587 EUR per month for the 8 individualised parking spaces. It is the expectation that the parking building will be ready by March 1, 2017. As of March 1, 2017, as a commercial gesture, the Service Provider hereby grants the Service Receiver a three (3) months’ Parking Fee free period starting on March 1, 2017 and ending on May 31, 2017.

 

13.3.2. Upon use of the parking building an additional amount of 2,667 EUR will be added to the Deposit as referred to in Article 4 as a guarantee for the use of the indoor parking building.

 

13.4. Incentive

 

As a commercial gesture for the Service Receiver entering into this agreement starting on April 1, 2016 regarding the second floor of Building C which is in the process of being finalised, the Service Provider hereby grants the Service Receiver a three (3) months’ Service Fee free period starting on April 1, 2016 and ending on June 30, 2016 (“the Incentive”). The Service Fee will hence be due and payable as of July 1, 2016. The Incentive is for the Service Fee only and not for the Parking Fee nor for the Consumption Fees.

 

13.5. Requests for changes to the Modules / Bill of Quantities

 

Any requests by the Service Receiver for additional changes to the Modules (including request having an impact on the Bill of Quantities), will be charged to the Service Receiver as an amendment of the Service Fee or in case of limited amounts will be invoiced directly by the Service Provider to the Service Receiver

 

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Article 14. — Miscellaneous

 

14.1                       In the event administrative or judiciary proceedings are initiated against the Service Provider due to the activity or the presence of the Service Receiver in BioScape, the Service Receiver commits to intervene voluntarily in such proceedings and to hold the Service Provider completely harmless in this respect.

 

14.2.                    In the event that any provision (or portion thereof) of this Agreement (including in respect of one but not both Parties) would be held to be invalid or unenforceable, such invalidity or unenforceability shall not affect the validity or enforceability of any other provision of this Agreement (and the same provisions as they apply to Parties in respect of which they are not invalid or unenforceable) and the Parties shall enter into good faith negotiations to replace the invalid or unenforceable provision (or portion thereof) by a valid and enforceable provision that achieves the Parties’ original intent to the fullest extent possible, while respecting to any possible extent the initial balance of the Parties’ rights and obligations.

 

14.3.                    This Agreement shall be interpreted in accordance with, and governed by, the laws of Belgium (without regard to the conflicts of law provisions thereof). Any disputes arising in connection with or out of this Agreement and/or the execution thereof shall be settled by competent courts of the judicial district of Ghent.

 

14.4.                    Unless otherwise provided for in this Agreement, the Service Receiver may not assign or transfer any of its rights and obligations hereunder in any other way without the prior written consent of the Service Provider, except in case of a legal merger or legal de-merger or similar corporate restructuring. This Agreement shall be binding upon and inure to the benefit of the approved successors and assigns of the Parties.

 

14.5.                    Any notice to be given under or in connection with this Agreement must be in writing in English or Dutch and shall be validly given with respect to each Party if sent by registered mail or sent by fax and confirmed by e-mail (with confirmation of delivery) to the addresses and fax numbers set out below.

 

Any notice shall be deemed to have been given on the next day provided that the e-mail (with confirmation of delivery) has been sent before 13h00 and provided that that day is a business day. If such day is not a business day the notice shall be deemed to have been given on the first business day thereafter.

 

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The Service   Receiver:
    
   Contact name : Eric Castaldi
   Function : CFO
   Address: Address of the premises
   Always with a copy to:
   ecastaldi@argenx.com and
   tvhauwermeiren@argenx.com
    	
 
    	
The Service Provider:
    
   Contact name : Stefan Marien
   Function :
   Address: Karel van de Woestijnestraat
   9000 Gent
   E-Mail:stefan.marien@biovest.be
    

 

14.6.                    This Agreement and its exhibits identified herein or therein contain the entire agreement between the Parties and replace any verbal declaration or written document made or entered into prior to the date of this Agreement related to the same subject matter.

 

14.7.                    No failure or delay by any Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any singular or partial exercise thereof preclude any other or further exercise thereof or exercise of any right, power or privilege hereunder.

 

SIGNATURES

 

Made in two originals on 31st March 2016, in Ghent. Each Party declares to have received one original.

 

	
For and on behalf of the Service   Provider,
    	
 
    	
For and on behalf of the Service   Receiver,
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Rudi Marien
    	
 
    	
/s/ Tim Van Hauwermeiren
    
	
Name: Gengest BVBA
    	
 
    	
Name : argenx bvba
    
	
Represented by: Rudi Marien
    	
 
    	
Represented by : Tim Van Hauwermeiren
    
	
Title: General Manager Bio-Incubator Gent 2 NV
    	
 
    	
Title : CEO
    

 

16

 

ANNEX 2: Floor design of the Modules

 

17

 

ANNEX 3: Bill of Quantities

 

18

 

I SALDO A VD2   (GEDEELTE) . I 191 05 BIO-INCUBATOR GENT II - RENOVATIE LABO-GEBOUW   INDUSTRIEPARK ZWIJNAARDE 7 B-9052 GENT (ZWIJNAARDE) BELGIE ARGENX Verdieping   2 & Vergaderzalen I Year Month III 189.308 21.034 17. 5 fi 174.899   AFWERKING --70.771 TECHNIEKEN - - INRICHTING (LABOMEUBILAIR & TREKKASTEN)   INRICHTING (KANTOOR-MEUBILAIR) 104.128 AUDIO & VIDEO VERGADERZALEN   B.VERGADERZALEN GEUJKVLOERS+VERDIEPING 2 14.409 AFWERKING TECHNIEKEN I   INRICHTING MEUBILAIR 10.511 AV/AUDIO 3.899 SVR-ARCHITECTS nv-Volhardingstraat   26 - B-2020 Antwerpen-T +32 (0)3 242 82 00 - F +32 (0)3 237 76 98 - W   www.svr-architects.eu 

    

 

 

- r---·   191.()05 BI0-1NCU8ATOR GENT II·RENOVATIE lASO.GEBOVW WOUSTRIEPARK ZWIJNAAROE   7 B-90$2GENT(ZWIJNMROE) 8ElG1£ LOS MEUBILAIR VD2-DeelA OMSCHRJ.MNOEP. .   TOTAALtllfiC<l 11.1U,OI lOSMfU&lAIR • V!.IU1.UUIII8M. '" ST ST ST   ST ST ST ST 3.00 3.00 18,00 \8,00 24,00 o.oo 0.00 0,15 .&89,81 1.525.84   439.80 \99,00 .&89 81 335,22 132,30 :;e],28 1.689,8-4   1.754,41152&3,45 505,54 8099,12 22U54.119,30 563,25 13518,78 335,50 o.oo   152.15 o.oo 32001.23 81.191,0$ 91 1.51.00 VEROIEPIHQ 2 COf>YROOM 1\AST   LANDSCAPE OFFICE IBUREAU·TM£l BENCH FH '" '" '" BUREAV.STOEL   0.00 LAOE.NBLOK 1\AST CANTEEN ANTEEN·TAFEL I RONO f ANTEEN.STOEL 

    

 

- - 191.()()5   O-INCU6ATOR GENTII·RENOVATIE LABO·GEBOlJIN INOUSTRIEPAAKzv.JIJ DE 7 B-9052   GENT (ZWIJNAAROE) BELGI£ LOS MEUBILAIR VD2-DEEL 8 OMSCHRIMNG TOTAAL lOS   MEl.ellAIR ·VERt«AARBMR VERDIEPING2 OFFICE BUREAlJ.TAFEL INDMOUEEL   BUREAIJ.STOEL lAOENBlOK I<AST JZETIAFEL JZETSTOEL MEETING ROOM   VERGADER-TAFEL / RECHTHOEKIG INBOIJINSET AUOIO·V10EO VERGADER-STOEL 1   RECEPTION 8UREAU.TAFEL INDMOUEEL BUREAU.STOEL LADENBLOK I<AST 

    

 

.. .. - 1i1-005   O.IUCU6ATORG£NT II ·REtiOVATIE lABO-GEBOlla"' ltiOUSTRIEPARKZWIJIIAARDE   1 8--0052 GENT(Z'MJIIAAROE) BELGI£ LOS MEUBILAIR OMSCHRJJVINOu. TOTAAL11'1\   I''I,H \ ll JO, \10 10,\ 11o.no.u LOS WE1..6V..R •G£WEtf50W'PEL.l..K   t0$10,$<1 CEUJKY\.OERS 1.$10 4 83 J.IEETIUG ROOM 3 01&.$2 I   ERGAOER-TAFELI ROtiO FH Sf \,00 1 ?SU5 1255.i5 INBOU\'ISET AUOIQ.VIOEO   VERGADER.STOH ST 6,00 nJ,60 1 761,57 MEEnua ROOM 3 &&15,)1 [ I   ·-VERGAOER-TAFELI RECHTHOEIQG FH ST \,00 1.S:J7,55 1537,55 n<BOVM>ET   AOOQ.VIOEO VERGAOER..STOEL FH ST 8,00 nuo 234!,76 YEROI:E.PING t 0.00   YERCIEPV.IG 2 3«.15,11 MEETING ROOM 3 605,71 VEROAOER·TMEL I RONO 1/S: OUWSET   AUOIO-VI0£0 FH ST 1,00 1255.V5 1 255.95 2 345,7!1 ERGAOER-STOEL FH Sf 8,00   293,80 

    

 

--1---FH - ---   - - ---------- - ----- - - -··----RGIEZUILEN .............. .   .SVR-ARCHITECTS•nv o hardingslraa1 26.82-020 Anw e en•• T +3•2 ( 0)3 24282   00F +32 (0) a• • it s.e ................................. u.. ect   3_2_37769W8-wasw•-w 191-005 810-INCUBATOR GENT II·RENOVATIE LABO-GEBOUW   INDUSTRIEPARK ZWIJNMRDE 7 8-9052 GENT (ZWIJNMRDE) BELGIE MEUBILAIR VAST VD2   (LABO-MEUBILAIR, TREKKASTEN, ANDERE) OMSCHRIJVINGA.O.E.H. H.H.T.P. 71   LABO-MEUBILAIR & TREKKASTEN 71 10 LABO-MEUBILAIR • ALGEMEEN 71 11   LABO-TAFEL MET MEUBELSTRUCTUUR TYPE "A" 71 11 01 WERKBLAD DIEPTE   0600 MM FH M1 0,00 0,00 0,00 71 11 02 WERKBLAD DIEPTE 0750 MM - FH M1 0,00   256,45 0,00 71 11 03 - WERKBLAD DIEPTE 0800 MM FH M1 0,00 00, 0 0,00 71 11 04   WERKBLAD DIEPTE 0900 MM FH M1 0,00 0,00 0,00 71 11 05 WERKBLAD DIEPTE 1500 MM   - - FH M1 - 0,00 0,00 0,00 71 11 06 AFSLUITPANELEN BE 71 11 07 ONDERKAST TYPE   1 ONDERKAST TYPE 2 FH ST - ST 0,00 --0,00 0,00 0,00 0,00 71 --71 11 11 08 FH   0,00 ---0,00 --FH ST 0,00 381,10 09 ONDERKAST TYPE 3 71 11 10 BOVENKAST ST   0,00 0,00 0,00 71 --71 12 1--12 r--01 LABO-TAFEL MET MEUBELSTRUCTUUR TYPE   "C" - 0,00 WERKBLAD DIEPTE 0600 MM FH M1 0,00 0,00 71 12 02 WERKBLAD   DIEPTE 0750 MM ----WERKBLAO DIEPTE 0800 MM FH M1 67,11 254,15 17.056,51 71 12   03 FH --FH M1 M1 - M1 f-0,00 0,00 0,00 71 12 04 WERKBLAD DIEPTE 0900 MM   ---WERKBLAD OlEPTE 1500 MM - ----AFSLUITPANELEN 0,00 - 9,00 262,20 - 416,30   0,00 71 71 12 12 05 06 07 - FH 3.746,70 - 4.686,25 0,00 0,00 0,00 - ---   ---------BE - FH 71 - 71 71 71 - 71 --71 12 --12 12 12 r-13 - 14 --ONDERKAST   TYPE 1 ONDERKAST TYPE 2 ONDERKAST TYPE 3 --------- BOVENKAST   ----LABO-MEUBILAIR • REAGENTIA REKKEN ST ST 25,00 0,00 187,45 - - 220,80 -   --08 09 10 FH ---ST 0,00 --- 0,00 - 9,90 0,00 - 165,60 - 104,65 FH FH FH ST   1--M1 1.038,04 ------ ---- LABO-MEUBILAIR -ENERGIEKOKERS & ENE 

    

 

,<,' -   ·----- - ---- ---- - 481,85 ----UBELSTRUCTUUR TYPE "C') ------   EUBELSTRUCTUUR TYPE "A") EUBELSTRUCTUUR TYPE ''A") -   EUBELSTRUCTUUR TYPE "A") EUBELSTRUCTUUR TYPE "C") 1   EUBELSTRUCTUUR TYPE "C") 1------ EUBELSTRUCTUUR TYPE "C")   ---- -1--· - ---- - ----------1- VOORZIENINGENI FLUTDA ------ - D "' - -   191-005 BID-INCUBATOR GENT II RENOVATIE LABO-GEBOUW INDUSTRIEPARK ZWIJNAARDE   7 B-9052 GENT {ZWIJNAARDE) BELGIE : ---liMEUBILAIR VAST VD2 (LABO-MEUBILAIR,   TREKKASTEN, ANDERE) OMSCHRI JVINGA. O.£.H.H.H.T.P. 71 14 01 ENERGIEKOKERS FH   ST 3,00 460,00 1.380,00 71 14 02 ENERGIEZUILEN FH ST 6,00 296,70 1.780,20 71   15 ·-LABO-MEUBILAIR - WANDGOTEN FLUDl A & ELEKTRA 71 15 01 I WANDGOOT   FLUTDA FH M1 0,00 0,00 0,00 - 0,00 71 - FH M1 0,00 0,00 - ---15 02 WANDGOOT   ELEKTRA 71 16 LABO-MEUBILAIR -AFVOERSTELSELS FH ST 3,00 - 0,00 180,55 541,65   71 17 LABO-MEUBILAIR - UITGIETIRECHTERS ---- LABO-MEUBILAIR - SPOELBAKKEN FH   ST 0,00 0,00 71 16 I 16 01 - - 02 SPOELBAK TYPE SB 01 ----- FH ST 3,00 303,60   910,80 - SPOELBAK TYPE SB 02 FH ST - ST f-0,00 - 0,00 0,00 0,00 71 18 71 71   71 18 19 ISPOELBAK TYPE SB 03 LABO-MEUBILAIR - AANRECHTBLADEN IWERKBLAD   DIEPTE 0600 M(OP MEUBE STRCTUUR TYE "A") - FH 477,25 --0,00 ----   0,00 03 l --0,00 0,00 4,50 0,00 --0,00 0,00 - __.._ 461,15 I - FH FH M1 - M1 19   01 71 71 19 02 WERKBLAD DIEPTE 0750 MM {OP MEUBELSTRUCTUUR TYPE   "A") - ----WIERKBLAD DIEPTE 0600 MM {OP MEUBELSTRUCTUUR TYPE   "C') --1--- - 0,00 19 03 - FH FH M1 M1 - ST 1-ST - ST ST ST ST t--ST ST   1-- 2.168,33 71 - 71 71 71 ---71 --· 71 --71 - 71 71 19 19 19 19 --19 19 04   05 06 07 r--- 08 09 WERKBLAD DIEPTE 0750 MM (OP ME AFSLUITPANELEN - - -------   --------0,00 BE FH --FH FH - 0,00 - 0,00 0,00 0,00 1---f--- --0,00 ONDERKAST   TYPE 1{PASSENO BIJ M ---ONDERKAST TYPE 2 {PASSENO BIJ M ----- ---- ONDERKAST   TYPE 3 {PASSENO BIJ M ---ONDERKAST TYPE 1 {PASSENO BIJ M ONDERKAST TYPE 2   {PASSENO BIJ M ONDERKAST TYPE 3 {PASSENO BIJ M LABO-MEUBILAIR - SPATSCHERMEN   LABO-MEUBILAIR • TECHNISCHE f---AFNAMEPUNT BEDRIJFSWATER KOU - ------0,00   ----0,00 - - --0,00 0,00 9,00 0,00 0,00 3,00 - 3,00 - - 0,00 - 1.873,35   -----0,00 - - 0,00 - 144,90 ------ 0,00 - --- - 997,05 208,15 0,00 - FH FH -   --FH FH --19 19 20 10 11 - 01 0,00 46,30 · 71 21 --FH 332,35 71 21 SVR-ARCHI   TECTS nv Volhardin9slraa126 B-2020Anlwerpen T +32 {0)3 242 62 00 F +32 {0)3   237 76 98 W wvm.svr-architects.eu( 

    

 

- DATA-PUNT -   --! - I -. - - - - ELBLADPLINTEN (VD2) == TAFELACHTERWANDEN (VD2) I I   SVR·ARCHITECTS nv Volhardingslraat 26 8 2020 Antwerpen T +32 (0)3 242 82 00 F   +32 (0)3 23776 98 Wwww.svr-architects.eu 191-005 BID-INCUBATOR GENT II·   RENOVATIE LABO-GEBOUW INDUSTRIEPARK ZWIJNAARDE 7 B-9052 GENT (ZWIJNAARDE)   BELGI MEUBILAIR VAST VD2 (LABO-MEUBILAIR, TREKKASTEN, ANDERE) OMSCHRI JVING   A.O.EH. .H .H.T.P. 71 I 21 02 AFNAMEPUNT BEDRIJFSWATER WARM FH ST 3,00 416,30   1.248,90 7122 ---;-01 LABO-MEUBILAIR • TECHNISCHE VOORZIENINGENI ELEKTRA -   0,00 103.50 0,00 STOPCONTACT ENKEL FH ST 0,00 71 22 71 22 02 STOPCONTACT   OUBBEL FH ST 24,00 112,702.704,80 '-1--FH ST 12,00 31,05 372,60 71 22 04 71   25 - TREKKASTEN t-TREKKAST 02.V.XX·01 0,00 71 71 - 71 25 25 25 11 12 13 FH ST   1,00 - 6.107,65 - 6.107,65 6.107,65 6.107,65 TREKKAST 02.V.XX-02 TREKKAST   02.V.XX-03 FH ST 1,00 ----6.107,65 FH ST 1 00 6.107,65 71 1 71 25 14 r   REKKAST 02.V.XX·04 FH BE ST 1,00 5.898,35 5.898,35 25 15 02 TESTEN FAT lANDER   VAST MEUBILAIR ANDER VAST MEUBILAIR • ALGEM I - - - - --EEN 12 72 r--72 12 -   10 11 11 ANDER KJTCHE 1--TAF TAFELK VAST MEUBILAIR-KJTCHENETIE(S) - NETIE   VERDIEPING 2 ------ - 1,00 66,70 · - 18,35 15,15 I GP 2.458,70 32,20 - 34,50   43,70 - 2.458,70 --- 2.147,74 == '"""--' l c::===::= ---   OPSCHOTIEN (VD2) 633,08 - 662,06 - I-TOTAAL,B.T.W EXCLUSIEF 70.770,94

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