Document:

EX-10.12

 Exhibit 10.12 

FIRST AMENDMENT TO LEASE AGREEMENT 

This FIRST AMENDMENT TO LEASE AGREEMENT (“First Amendment”) is made and entered into as of the 12th day of August, 2020, by and between WELCOME TO THE DAIRY, LLC, a Delaware limited liability company (“Landlord”), and SWEETGREEN, INC., a Delaware corporation
(“Tenant”). 
 R E C I T A L S : 

A. Landlord and Tenant entered into that certain Lease Agreement dated as of May 23, 2019 (the “Lease”). 

B. The parties hereto (the “Parties”) desire to amend the Lease in order to address and clarify matters with respect to the
ongoing construction process for the Property, on the terms and conditions set forth in this First Amendment. 
 A G R E E M E N T : 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 
 1. Capitalized
Terms. All capitalized terms when used herein shall have the same respective meanings as are given such terms in the Lease unless expressly provided otherwise in this First Amendment. 

2. Date Modifications. Landlord and Tenant hereby agree to the following modifications of dates set forth in the Lease: 

 

	 	A.	 The date of “January 31, 2020” set forth in Section 3.2 of the Summary is hereby deleted in its
entirety and replaced with “April 1, 2021”. 

  

	 	B.	 The date of “December 31, 2020” set forth in Section 3.3 of the Summary is hereby deleted in its
entirety and replaced with “December 1, 2021”. 

  

	 	C.	 The date of “March 26, 2020” set forth in Section 1.1.2B of the Lease is hereby deleted in its
entirety and replaced with “February 1, 2021”. In addition, the sixth sentence of Section 1.1.2B is hereby deleted in its entirety and replaced with: “In the event that the Beneficial Occupancy Start Date does not occur by the
Expected Delivery Date, Tenant shall have the right as its sole legal and equitable remedy (other than the Late Delivery Termination Option pursuant to the terms set forth herein), to a credit against payment of Base Rent (solely with respect to the
Phase I Premises) equal to two (2) days’ abatement in Base Rent for every day on and after the Expected Delivery Date and before the Beneficial Occupancy Start Date, which abatement shall be applied against Base Rent first coming due
hereunder (solely with respect to the Phase I Premises) until exhausted.” 

  
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	 	D.	 The date of “February 24, 2021” set forth in Section 1.1.2D of the Lease is hereby deleted in
its entirety and replaced with “February 1, 2022”. In addition, the ninth sentence of Section 1.1.2D is hereby deleted in its entirety and replaced with the following: “In the event that the Phase II Commencement Date does not
occur by the Expected Phase II Delivery Date, Tenant shall have the right as its sole legal and equitable remedy (other than the Phase II Late Delivery Termination Option pursuant to the terms set forth herein), to a credit against payment of Base
Rent (solely with respect to the Phase II Premises) equal to two (2) days’ abatement in Base Rent for every day on and after the Expected Phase II Delivery Date and before the Phase II Commencement Date, which abatement shall be applied
against Base Rent first coming due hereunder (solely with respect to the Phase II Premises) until exhausted.” 

 3.
Delays. With respect to the Phase I Work and Phase II Work, Landlord and Tenant hereby stipulate that, as of the date hereof, there have been no Tenant Delays or delays due to Force Majeure. For the avoidance of doubt, the foregoing
shall in no event be construed to prevent Landlord from claiming Tenant Delays due to matters, acts or omissions occurring after the date hereof, provided that Landlord shall provide Tenant with written notice or Email Notice of any such claimed
Tenant Delay together with reasonable backup documentation evidencing such delay within five (5) days after the occurrence thereof (and any such Tenant Delay shall be subject to the cure and grace period, if any, set forth in Section 4.2
of Exhibit B of the Lease). 
 4. Lease Commencement Date/Beneficial Occupancy. The first sentence of Section 3.2 of the
Summary is hereby deleted in its entirety and replaced with the following: “The date which is four (4) months after the date Landlord delivers possession of the Phase I Premises to Tenant with Landlord’s Work (as defined in the Tenant
Work Letter) and the Tenant Improvements (as defined in the Tenant Work Letter) with respect to the Phase I Premises (the “Phase I Work”) Substantially Complete (as defined in the Tenant Work Letter), which date of delivery of
possession is subject to adjustment pursuant to the Tenant Work Letter.” 
 For the four (4) month period prior to the Lease
Commencement Date (the “Beneficial Occupancy Period”), Tenant shall be permitted to occupy the Premises (and, for clarity, Tenant shall have the right to use the Parking Areas) subject to complying with all terms and provisions of
the Tenant Work Letter and with all of the other terms and provisions of this Lease (including those identified as only applying during the Lease Term), except those provisions requiring the payment of Base Rent and Parking Rent, which shall not
apply to Tenant until the Lease Commencement Date (and for clarity, Landlord acknowledges that Tenant’s Base Rent for the first full calendar month after the Lease Commencement Date will be abated subject to Exhibit D to the Lease). For the
avoidance of doubt, Direct Expenses shall be due and payable during the Beneficial Occupancy Period. Landlord and Tenant shall enter into a Notice of Lease Term Dates on the form set forth in Exhibit C of the Lease on or prior to the Beneficial
Occupancy Start Date (as defined below). 

  
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 The first day of the Beneficial Occupancy Period shall be referred to as the
“Beneficial Occupancy Start Date” (for clarity, such date shall be the date Landlord delivers possession of the Phase I Premises to Tenant with the Phase I Work Substantially Complete, which date of delivery of possession is subject
to adjustment for Tenant Delays pursuant to the Tenant Work Letter). Wherever the term “Lease Commencement Date” appears in the Sections of the Lease referenced directly below, the term “Lease Commencement Date” is
hereby replaced with the term “Beneficial Occupancy Start Date”: 
  

	 	•	 	 Section 1.1.2A; 

  

	 	•	 	 Section 1.1.2B; 

  

	 	•	 	 Section 1.1.3; 

  

	 	•	 	 Section 4.2.1; 

  

	 	•	 	 Section 6.2; 

  

	 	•	 	 Section 10.5.2; 

  

	 	•	 	 Section 11.1.1; 

  

	 	•	 	 Section 25.1; 

  

	 	•	 	 Section 25.2.3; 

  

	 	•	 	 Section 25.4; and 

 

	 	•	 	 The second reference in Section 5.1 of the Tenant Work Letter. 

5. Base, Shell, and Core Description. Exhibit B-1 of the Tenant Work Letter is hereby
deleted in its entirety and replaced with Exhibit B-1 attached to this First Amendment, and Landlord hereby reaffirms its obligation to perform the work therein at its sole cost and expense (and not included
in the Tenant Improvement Allowance) pursuant to the Approved Working Drawings for Landlord’s Work, which work shall be Substantially Complete prior to the Beneficial Occupancy Start Date with regards to the Phase I Work and prior to the Phase
II Commencement Date with regards to the Phase II Work. In consideration for Tenant’s agreement to remove Section 3(k) of Exhibit B-1 of the Tenant Work Letter from the scope of Landlord’s Work,
Landlord shall provide Tenant with a one-time payment of Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) within sixty (60) days of the Lease Commencement Date. 

6. Mutual Release. Landlord, together with its successors and assigns, officers, directors, employees, members, agents,
shareholders, advisors, representatives, lenders and attorneys thereof, and each of them past and present, both individually and in their corporate capacities, is hereby fully and unconditionally released and discharged by Tenant from any Claims (as
defined in Section 10.1 of the Lease) regarding amounts or credits claimed to be owed by Landlord to Tenant in connection with delays occurred to date in the completion of Landlord’s Work and/or the Tenant Improvements (except for the
payment set forth in Section 5 above, Landlord’s obligation to fund the Tenant Improvement Allowance and any amounts or credits granted by Landlord, in its sole and absolute discretion, after the date of this First Amendment [it

  
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being acknowledged that Landlord has no obligation to grant the same]), and Tenant, together with its successors and assigns, officers, directors, employees, members, agents, shareholders,
advisors, representatives, lenders and attorneys thereof, and each of them past and present, both individually and in their corporate capacities, is hereby fully and unconditionally released and discharged by Landlord from any Claims of Tenant
Delays to date (such matters expressly released by each party hereunder, the “Released Matters”). This First Amendment fully and finally settles all Claims with respect to delays in the completion of Landlord’s Work and/or the
Tenant Improvements to date, including, without limitation, both known and unknown claims and causes of action that arise out of or in connection with the Released Matters arising prior to the date hereof. 

Each of the Parties expressly waives the provisions of California Civil Code Section 1542, which provides: 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.” 
 Each party acknowledges that it has
received the advice of legal counsel with respect to the aforementioned waiver and understands the terms thereof. 
 7. Address of
Tenant. Section 9 of the Summary is hereby deleted in its entirety and replaced with the following: 
 Before the Beneficial
Occupancy Start Date: 
 SWEETGREEN, INC. 

3000 S. Robertson Blvd., 3rd Floor 

Los Angeles, California 90034 

Attention: Accounting Department 

From and after the Beneficial Occupancy Start Date: 

The Premises 
 Attention:
Accounting Department 
 A copy of all notices pertaining to any default applicable to Tenant shall be sent in the same manner and at the
same time to: 
 Ravid Law Group 

|601 S. Figueroa Street, Suite 4400 

Los Angeles, California 90017 

Attention: Nadav Ravid, Esq. 
 8.
Expense Cap. The calendar year “2021” set forth in Section 4.2.5 of the Lease is hereby deleted in its entirety and replaced with calendar year “2022”. 

9. Article 34. Article 34 of the Lease is hereby deleted in its entirety. 

  
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 10. Counterparts. This First Amendment may be executed in multiple
counterparts, each of which is to be deemed original for all purposes, but all of which together shall constitute one and the same instrument. Delivery by facsimile, or e-mail of a PDF copy, of a counterpart
of this First Amendment executed by Landlord or Tenant shall constitute delivery by such party of such party’s executed counterpart of this First Amendment. 

11. Effectiveness of Agreement. In no event shall any draft of this First Amendment create any rights, obligations or
liabilities, it being intended that only a fully executed and delivered copy of this First Amendment will bind the Parties. 
 12. No
Further Modification. Except as set forth in this First Amendment, all of the terms and provisions of the Lease shall remain unmodified and in full force and effect. In the event of a conflict between the terms of the Lease and the terms of
this First Amendment, the terms of this First Amendment shall control. The provisions of the Lease, as amended and supplemented by this First Amendment, are hereby ratified and confirmed by Tenant and Landlord in all respects. 

[The remainder of this page is intentionally left blank. Signature page follows.] 

  
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 This First Amendment is executed as of the date first written above. 

LANDLORD: 
 WELCOME TO THE DAIRY, LLC,  

a Delaware limited liability company 
  

			
	By:	 	 /s/ Asher Luzzatto

	Name:	 	Asher Luzzatto
	Title:	 	President
	
	TENANT:
	
	SWEETGREEN, INC.,
	a Delaware corporation
		
	By:	 	 /s/ Nicolas Jammet

	Name:	 	Nicolas Jammet
	Title:	 	Co-Founder + Chief Concept Officer

  
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 Exhibit B-1 

Base, Shell and Core Description 

Landlord shall perform the following work at Landlord’s sole cost and expense (and not included in the Tenant Improvement Allowance) pursuant to the
Approved Working Drawings for Landlord’s Work, which work shall be Substantially Complete prior to the Beneficial Occupancy Start Date with regards to the Phase I Work and prior to the Phase II Commencement Date with regards to the Phase II
Work: 
 1. Mechanical, Electrical, and Fire/Life Safety Systems: 

a. Base building HVAC system shall provide the indoor rentable areas of the Premises with an average temperature of 72 degrees Fahrenheit, plus
or minus 2 degrees for standard office environments and shall contain reasonably appropriate zoning as needed for Tenant’s employees. 

b. Provide adequate mechanical and electrical systems capacity to accommodate a standard creative office environment including 24/7 cooling for
IDF rooms, or provide adequate roof space and pathway to the Premises for such systems. 
 c. Base building mechanical infrastructure shall
be capable of supporting a reasonable building cafeteria within Tenant’s Premises, which shall specifically include natural gas supply to the building and the installation of grease interceptors and grease ducts (see also Section 3.j.
below for additional information). 
 d. Electrical service shall be provided to panels within an electrical room located within
Tenant’s Premises, and shall be capable of delivering 10W/sf to Premises. 
 e. If required, the entire building shall be fully
sprinklered, and the sprinkler system shall be completed, tested, and operational in accordance with all applicable codes and regulatory agency requirements. 

f. A fire alarm system with fully addressable devices shall be provided throughout the building, and shall be completed, tested, and
operational in accordance with all applicable codes and regulatory agency requirements. 
 g. All ducted mechanical exhaust systems,
including fans, main loop around the floor, return air and exhaust system, and all smoke and fire dampers, shall be new; main duct to have interior insulation throughout. Landlord further warrants that all mechanical equipment will be new and in
good and working order as of the Beneficial Occupancy Start Date and as of the Phase II Commencement Date (as applicable). 
 h. Base
building security measures to include conduit pathway for surveillance cameras at exterior entries & electrified locksets to be installed at all exterior entry doors (see Section 3.d below for keying/hardware) (for the avoidance of
doubt, conduit pathways do not include low voltage wire and Tenant is responsible for pulling all low voltage wires for these locations, and Landlord reserves right to run conduits overhead except in areas where underground conduit pathways are
required). With respect to the foregoing, Landlord shall be responsible for the cost of the installation of the lockset and providing power to the doors, and Tenant shall be responsible for the cost of any key card/fob devices and any additional
security add-ons with respect to the locksets. 

  
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 2. Communications: 

a. Risers shall be provided from the MPOE/Vault to the Premises per Tenant’s plan in order to facilitate the installation of Tenant’s
communication cabling. 
 b. Space and pathways shall be made available to accommodate redundant connectivity with local service providers.

 3. General Building: 
 a. Floor slabs shall
be level with no greater than standard creative office deviations in elevation (i.e., no more than 1/8” over 10 feet), and smooth surfaces, and ready for carpet installation. Any floor levelling or trenching shall match the existing floors with
regards to color and aggregate as Tenant will be utilizing concrete floors throughout. 
 b. All penetrations through rated assemblies and
systems shall be sealed and fireproofed if required by building regulations. 
 c. Existing interior surfaces of ceilings, exterior walls and
floor areas that are intended to become finished surfaces, pursuant to all applicable building and energy codes, shall be sandblasted and/or ready to receive finishes, or be detailed per Tenant’s plans. Surfaces that will receive sheetrock,
insulation, or other coverings, do not require sandblasting. 
 d. All building core and common areas (interior and exterior), including
stairwells, and utility rooms shall be fully upgraded, painted and complete pursuant to plans and specifications mutually agreed to between Landlord and Tenant, and shall be constructed in compliance with applicable codes and regulatory agency
requirements. Landlord shall provide the keying and hardware for the Base Building, which hardware styles, finishes and materials shall be subject to Landlord’s and Tenant’s reasonable agreement. For clarity, Landlord’s Work shall
include repainting of the entire exterior of both the Phase I Premises and the Phase II Premises (unless otherwise mutually agreed by Tenant and Landlord in their respective reasonable discretion). 

e. Landlord shall furnish and install all sky lights and windows/perimeter window systems (min NC 35) pursuant to the Approved Working Drawings
for Landlord’s Work, with finishes and materials subject to Landlord’s and Tenant’s reasonable approval. 
 f. Landlord shall
provide at the ground or garage area(s) for Tenant’s secured bicycle and general storage items. 
 g. Landlord shall cause
Landlord’s Work to be constructed to include any Specialized Improvements as directed by Tenant (as further set forth in (j) below). Any Specialized Improvements not set forth in (j) below shall be at Tenant’s sole cost and
expense and may cause Tenant Delays. 

  
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 h. Conduit pathway from Tenant’s premises to roof, as well as provisions on the roof
for mounting of limited communication equipment. 
 i. As part of the Phase II Work, the Roof Deck shall be constructed at Landlord’s
sole cost and expense in the area depicted on the renderings shown on Exhibit G attached hereto and pursuant to the Construction Drawings. Landlord shall provide the Roof Deck with egress (which may include exterior stairs and/or an elevator) and
lighting for exiting and life safety in accordance with state and federal Applicable Laws (and in accordance with an A-Type occupancy). The Roof Deck shall have ample electrical for lighting, gas and plumbing
for heating and BBQ, and planters/landscaping (including irrigation lines) as reasonably agreed upon by Landlord and Tenant. The Roof Deck shall be ADA compliant with live load limits sufficient for A-Type
occupancy. All skylights on the Roof Deck must be designed and screened in such a way as to create maximum useable deck space and such design shall be subject to Tenant’s reasonable approval. The Roof Deck shall in no event be smaller than
5,000 usable square feet. The Phase II HVAC system shall be designed without package units on the Roof Deck or in such a way as meets Tenant’s reasonable approval. 

j. Landlord shall include as part of Base Building (and not included in the Tenant Improvement Allowance) in accordance with the Construction
Drawings: one (1) gym/meditation area with shower facilities (such shower facilities to count towards the two (2) shower core limit), two (2) shower and restroom cores in the Phase I Premises, three (3) restroom cores in the
Phase II Premises, one (1) standard office kitchen in the Phase I Premises, one (1) standard office kitchen in the Phase II Premises, and one (1) reception area in the Phase I Premises. Tenant may elect to upgrade either or both of
the standard office kitchens to accommodate a test/lab kitchen and/or a cafeteria at its sole cost and expense (which shall be considered a Specialized Improvement subject to the terms of the Lease and the Tenant Work Letter). If Tenant elects to
upgrade either or both of the standard office kitchens, then Landlord shall, at its sole cost and expense and instead of delivering such standard office kitchens, deliver the base, shell and core, associated infrastructure (including design fees and
other soft costs) of such non-standard kitchens (including plumbing [waste lines, as well as hot and cold water], grease traps (including necessary site work), floor drains, increased electrical capacity (as
required by Tenant, not to exceed the Building’s electrical capacity in any event), and dedicated exhaust [though Tenant shall be responsible for the cost of any PCU or scrubber required by Applicable Law]), and structural work associated with
such added infrastructure, with all kitchen equipment and improvements (including finishes and fixtures) beyond such scope constructed and paid for exclusively by Tenant. Given the specialized nature of this work, the Contractor(s) will engage a
kitchen subcontractor reasonably acceptable to Tenant for such work. 
 k. Intentionally deleted. 

l. Exterior lighting and landscaping which shall be consistent with the quality of landscaping and lighting for other comparable Class A
creative office properties in the West Los Angeles area and subject to the reasonable and timely approval of Tenant, provided that if Tenant requires any particular landscaping or exterior lighting which exceeds Landlord’s reasonable budgeted
allocation for such items then Tenant shall be responsible the incremental increase in the cost therefor. 

  
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 m. Landlord’s Work shall be generally consistent with the plan attached hereto as
Exhibit B-2 (the “Proposed Phase I Design”); provided that (i) the Proposed Phase I Design shall be subject to City required changes, modifications or clarifications during and as a result of
the permit process (provided that any such changes, modifications, and clarifications shall be subject to Tenant’s reasonable approval; except that any changes to the number, location or size of windows, doors, skylights or other openings in
the base building structure shall not require Tenant’s approval [except that, if the number of such items is reduced by the permitting process, and if the parties have the discretion to pick which of such items shall be eliminated, Tenant shall
have the right to reasonably approve which items are eliminated]), and (ii) the executive restroom contained in the Proposed Phase I Design shall be at Tenant’s sole cost and expense. Landlord and Tenant each acknowledge and agree that,
based on the currently available information, neither party believes that the Proposed Phase I Design would trigger full building structural upgrades to the Phase I Premises (a “Full Structural Upgrade”). However, if the Proposed Phase I
Design does in fact trigger a Full Structural Upgrade, the parties shall work together in good faith to modify the Proposed Phase I Design so that a Full Structural Upgrade shall not be required. In no event shall a Full Structural Upgrade be
incorporated into Landlord’s Work unless Landlord and Tenant, each in their sole and absolute discretion, mutually agree to incorporate same into Landlord’s Work. The foregoing shall not limit any of Landlord’s other obligations set
forth in this Exhibit B-1 or elsewhere in this Lease, including Landlord’s obligation to ensure that the Phase I Premises and the Phase II Premises are both delivered to Tenant in structurally sound
condition. 

  
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Exhibit 10.2

INFINITY PHARMACEUTICALS, INC.

Amendment No. 1 to
Amended and Restated Capital on DemandTM Sales Agreement
Sales Agreement
July 27, 2021
JonesTrading Institutional Services LLC 
757 Third Avenue, 23rd Floor
New York, NY 10017

B. Riley Securities, Inc.
299 Park Avenue, 21st Floor
New York, NY 10171
    
Ladies and Gentlemen:

Reference is made to the Amended and Restated Capital on DemandTM Sales Agreement, dated as of July 29, 2019 (the “Sales Agreement”), by and among Infinity Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and JonesTrading Institutional Services LLC and B. Riley Securities, Inc. (f/k/a B. Riley FBR, Inc.) (the “Agents”), pursuant to which the Company agreed to sell through the Agents, as sales agents, shares of the Company’s common stock, par value $0.001 per share (the “Shares”).  All capitalized terms used in this Amendment No. 1 to the Amended and Restated Capital on DemandTM Sales Agreement (this “Amendment”) not otherwise defined herein shall have the respective meanings assigned to such terms in the Sales Agreement.  The Company and the Agents agree as follows:
A.Amendments to Sales Agreement.  
1.The first and second paragraphs of Section 1 of the Agreement shall be amended and restated as follows:
“The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it may issue and sell through the Agents, shares of common stock (the “Placement Shares”) of the Company, par value $0.001 per share (the “Common Stock”) up to an aggregate offering price of $95,000,000 (“Aggregate Amount”); provided, however, that in no event shall the Company issue or sell through the Agents such number or dollar amount of Placement Shares that would (a) exceed the number or dollar amount of shares of Common Stock registered on the applicable effective Registration Statement (defined below) pursuant to which the offering is being made, (b) exceed the number of authorized but unissued shares of Common Stock, (c) exceed the number or dollar amount of shares of Common Stock permitted to be sold under Form S-3 (including General Instruction I.B.6 thereof, if applicable) or (d) exceed the number or dollar amount of shares of Common Stock for which the Company has filed a Prospectus Supplement (defined below) (the lesser of (a), (b), (c) and (d), the “Maximum Amount”).  Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this Section 1 on the amount of Placement Shares issued and sold under this Agreement shall be the sole responsibility of the Company and that the Agents shall have no obligation in connection with such compliance. The issuance and sale of Placement Shares through the Agents will be effected pursuant to the 

Registration Statement (as defined below) filed by the Company and declared effective by the Securities and Exchange Commission (the “Commission”) on April 29, 2019, with respect to $20,000,000 of the Aggregate Amount, and May 21, 2021, with respect to $75,000,000 of the Aggregate Amount, although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue any Placement Shares.  For purposes of this Agreement, all references to the Registration Statement (as defined below) shall be deemed to be to the applicable Registration Statement under which the Placement Shares will be issued.
The Company has filed, in accordance with the provisions of the Securities Act of 1933, as amended and the rules and regulations thereunder (the “Securities Act”), with the Commission registration statements on Form S-3 (File Nos. 333-230258 and 333-256096), each including a base prospectus, relating to certain securities, including the Placement Shares to be issued from time to time by the Company, and which incorporate by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (the “Exchange Act”).  The Company has prepared a prospectus supplement to the base prospectus included as part of each registration statement, which prospectus supplement relates to the Placement Shares to be issued from time to time by the Company (the “Prospectus Supplement”).  The Company will furnish to the Agents, for use by the Agents, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement, relating to the Placement Shares to be issued from time to time by the Company.  The Company may file one or more additional registration statements from time to time that will contain a base prospectus and related prospectus or prospectus supplement, if applicable (which shall be a Prospectus Supplement), with respect to the Placement Shares.  Except where the context otherwise requires, such registration statement(s), including all documents filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed with the Commission pursuant to Rule 424(b) under the Securities Act or deemed to be a part of such registration statement pursuant to Rule 430B of the Securities Act, is herein called the “Registration Statement.”  The base prospectus or base prospectuses, including all documents incorporated therein by reference, to the extent such information has not been superseded or modified in accordance with Rule 412 under the Securities Act (as qualified by Rule 430B(g) of the Securities Act), included in the Registration Statement, as it may be supplemented, if necessary, by the Prospectus Supplement, in the form in which such prospectus or prospectuses and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule 424(b), together with the then issued Issuer Free Writing Prospectus(es) (as defined below), is herein called the “Prospectus.”  
2.Section 6(v) of the Agreement shall be amended and restated as follows:
 “(v) Market Capitalization. As of May 21, 2021 and at the time the Company’s most recent Annual Report on Form 10-K was filed with the Commission, the Company met the then applicable requirements for the use of Form S-3 under the Securities Act, including, but not limited, to General Instruction I.B.1 of Form S-3.  The Company is not a shell company (as defined in Rule 405 under the Securities Act) and has not been a shell company for at least 12 calendar months previously. The Company meets the definition of the term “experienced issuer” specified in FINRA Rule 5110(j)(6).”
3.New Section 6(zz) and (aaa) shall be added as follows:
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(zz)   Cybersecurity.  Except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, the Company and its Subsidiaries’ information technology assets and equipment, computers, systems, networks, hardware, software, websites, applications, and databases (collectively, “IT Systems”) are adequate for, and operate and perform in all respects as required in connection with the operation of the business of the Company and its Subsidiaries as currently conducted, free and clear of all bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants. The Company and its Subsidiaries have implemented and maintained commercially reasonable physical, technical and administrative controls, policies, procedures, and safeguards to maintain and protect their material confidential information and the integrity, continuous operation, redundancy and security of all IT Systems and data, including “Personal Data,” used in connection with their businesses.  “Personal Data” means (i) a natural person’s name, street address, telephone number, e-mail address, photograph, social security number or tax identification number, driver’s license number, passport number, credit card number, bank information, or customer or account number; (ii) any information which would qualify as “personally identifying information” under the Federal Trade Commission Act, as amended; (iii) “personal data” as defined by GDPR (as defined below); (iv) any information which would qualify as “protected health information” under the Health Insurance Portability and Accountability Act of 1996, as amended by the Health Information Technology for Economic and Clinical Health Act (collectively, “HIPAA”); and (v) any other piece of information that allows the identification of such natural person, or his or her family, or permits the collection or analysis of any data related to an identified person’s health or sexual orientation. To the Company’s knowledge, there have been no breaches, violations, outages or unauthorized uses of or accesses to same, except for those that have been remedied without material cost or liability or the duty to notify any other person, nor any incidents under internal review or investigations relating to the same. The Company and its Subsidiaries are presently in material compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and security of IT Systems and Personal Data and to the protection of such IT Systems and Personal Data from unauthorized use, access, misappropriation or modification.
(aaa)     Compliance with Data Privacy Laws. The Company and its Subsidiaries are, and at all prior times were, in material compliance with all applicable state and federal data privacy and security laws and regulations, including without limitation HIPAA, and the Company and its Subsidiaries have taken commercially reasonable actions to prepare to comply with, and since May 25, 2018, have been and currently are in compliance with, the European Union General Data Protection Regulation (“GDPR”) (EU 2016/679) (collectively, the “Privacy Laws”). To ensure compliance with the Privacy Laws, the Company and its Subsidiaries have in place, comply with, and take appropriate steps reasonably designed to ensure compliance in all material respects with their policies and procedures relating to data privacy and security and the collection, storage, use, disclosure, handling, and analysis of Personal Data (the “Policies”). The Company and its Subsidiaries have at all times made all disclosures to users or customers required by applicable laws and regulatory rules or requirements, and none of such disclosures made or contained in any Policy have, to the knowledge of the Company, been inaccurate or in violation of any applicable laws and regulatory rules or requirements in any material respect. The Company further certifies that neither it nor any Subsidiary: (i) has received notice of any actual or potential liability under or relating to, or actual or potential violation of, any of the Privacy Laws, and has no knowledge of any event or condition that would reasonably be expected to result in any such notice; (ii) is currently conducting or paying for, in whole or in part, any investigation, remediation, or other 
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corrective action pursuant to any Privacy Law; or (iii) is a party to any order, decree, or agreement that imposes any obligation or liability under any Privacy Law.
4.Schedule 1 is amended by (i) deleting “B. Riley FBR, Inc.” and inserting in lieu thereof “B. Riley Securities, Inc. (f/k/a B. Riley FBR, Inc.)” and (ii) adding “as amended on July 27, 2021” immediately after “July 29, 2019”.

5.Exhibit 7(l) is amended by adding “as amended on July 27, 2021” immediately after “July 29, 2019”.
B.Expenses.  Pursuant to Section 8 of the Agreement, the Company shall pay the reasonable and documented fees and expenses of the Agents incurred in connection with the negotiation and execution of this Amendment including but not limited to the reasonable and documented fees and disbursements of the counsel to the Agents payable upon the execution of this Amendment, in an amount not to exceed $35,000.
C.Prospectus Supplement.  The Company shall file a Prospectus Supplement pursuant to Rule 424(b) of the Securities Act reflecting this Amendment within two Business Days of the date hereof.  
D.Existing Sales Agreement.  Notwithstanding anything to the contrary contained herein, this Amendment shall not have any effect on the terms of the Sales Agreement prior to the date of this Amendment, and the rights and obligations of the parties thereunder, including, without limitation, the representations, warranties and agreements (including the indemnification and contribution provisions), as well as the definitions of “Registration Statement” and “Prospectus” contained in the Sales Agreement.
E.No Other Amendments.  Except as set forth in Part A above, and except for any waiver or amendment of any provision of the Sales Agreement after the date hereof, all the terms and provisions of the Sales Agreement shall continue in full force and effect. All references in the Sales Agreement to the “Agreement” shall mean the Sales Agreement as amended by this Amendment; provided, however, that all references to “date of this Agreement” in the Sales Agreement shall continue to refer to the date of the Sales Agreement.
F.Counterparts.  This Amendment may be executed in two counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery of an executed Amendment by one party to the other may be made by facsimile or by electronic delivery of a portable document format (PDF) file (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com).
G.Governing Law.  This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York without regard to the principles of conflicts of laws.

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If the foregoing correctly sets forth the understanding among us, please so indicate in the space provided below for that purpose.
Very truly yours,
						
	INFINITY PHARMACEUTICALS, INC.

	
	By:	/s/ Seth Tasker
		Name:    Seth Tasker

		Title:    Senior Vice President, Chief Business Officer and Secretary

		
	ACCEPTED as of the date first-above written:

						
	JONESTRADING INSTITUTIONAL SERVICES LLC

	
	By:	/s/ Burke Cook

		Name:     Burke Cook
		Title:    General Counsel

						
	B. RILEY SECURITIES, INC.

	
	By:	/s/ Patrice McNicoll
		Name:   Patrice McNicoll
		Title:     Co-Head of Investment Banking

[Signature Page to Amendment No.1 to Sales Agreement]

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