Document:

Master Security Agreement dated 9/21/2005

 Exhibit 10.2 
 MSA #5081101 
 MASTER SECURITY AGREEMENT 
 No. 5081101 
 Dated as of September 21, 2005
(“Agreement”) 
 THIS AGREEMENT is between Oxford Finance Corporation (together with its successors and
assigns, if any, “Secured Party”) and Biolex, Inc. (“Debtor”). Secured Party has an office at 133 N. Fairfax Street, Alexandria, VA 22314. Debtor is a corporation organized and existing under
the laws of the state of Delaware. Debtor’s mailing address and chief place of business is 158 Credle St., Pittsboro, NC 27312. 
  

	1.	CREATION OF SECURITY INTEREST. 

 Debtor grants to
Secured Party, its successors and assigns, a security interest in and against all property listed on any collateral schedule now or in the future annexed to or made a part of this Agreement (“Collateral Schedule”), and in and
against all additions, attachments, accessories and accessions to such property, all substitutions, replacements or exchanges therefore, and all insurance and/or other proceeds thereof (all such property is individually and collectively called the
“Collateral”). This security interest is given to secure the payment and performance of all debts, obligations and liabilities of Debtor to Secured Party, now existing or arising in the future, under the Promissory Notes from
time to time identified on any Collateral Schedule (collectively “Notes” and each a “Note”), and any renewals, extensions and modifications of such debts, obligations and liabilities (such Notes,
debts, obligations and liabilities are called the “Indebtedness”). 
  

	2.	REPRESENTATIONS, WARRANTIES AND COVENANTS OF DEBTOR. 

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

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

  

	 	(b)	Power and Capacity to Enter Into and Perform Obligations. Debtor has adequate power and capacity to enter into, and to perform its obligations under this Agreement, each
Collateral Schedule, each Note and any other ‘documents evidencing, or given in connection with, any of the Indebtedness (all of the foregoing are called the “Debt Documents”); 

  

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

  

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

  

	 	(e)	No Violations or Defaults. Debtor has obtained the consent of its Board of Directors and the majority of its Series AA2 Preferred Shareholders to this Agreement and the other
Debt Documents and the transactions contemplated hereby and thereby-as such, the entry into, and performance by, Debtor of the Debt Documents will not (i) violate any of the organizational documents of Debtor or any judgment, order, law or
regulation applicable to Debtor, or (ii) result in any breach of or constitute a default under any contract to which Debtor is a party, or result in the creation of any lien, claim or encumbrance on any of Debtor’s property (except for
liens in favor of Secured Party) pursuant to any indenture, mortgage, deed of trust, bank loan, credit agreement, or other agreement or instrument to which Debtor is a party; 

  

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

  

	 	(g)	Solvency. The fair salable value of Debtor’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; the Debtor is not left with
unreasonably small capital after the transactions in this Agreement or any Collateral Schedule and Debtor is able to pay its debts (including trade debts) as they mature. 

  

	 	(h)	Financial Statements Prepared In Accordance with GAAP. All financial statements delivered to Secured Party in connection with the Indebtedness have been prepared in
accordance with generally accepted accounting principles, and since the date of the most recent financial statement, there has been no material adverse change in Debtor’s financial condition; 

  

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

  

	 	(j)	Collateral in Good Condition and Repair. The Collateral is, and will remain, in good condition and repair and Debtor will not be negligent in its care and use;

  

	 	(k)	Location of Collateral. All of the tangible Collateral is located at the locations set forth on each Collateral Schedule. Debtor shall give the Secured Party 30 days prior
written notice-of any relocation of any Collateral; 

  

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

  

	 	(m)	Encumbrances. The Collateral is, and will remain, free and clear of all liens, claims and encumbrances of any kind whatsoever, except for Permitted Liens;

  

	 	(n)	Intellectual Property Rights. Debtor will (i) protect, defend and maintain the validity and enforceability of the Intellectual Property and promptly advise Secured Party
in writing of material infringements and (ii) not allow any Intellectual Property material to Debtor’s business to be abandoned, forfeited or dedicated to the public without Secured Party’s written consent. 

 

	 	(o)	Taxes. All federal, state and local tax returns required to be filed by Debtor have been filed with the appropriate governmental agencies and all taxes due and payable by
Debtor have been timely paid. Debtor will pay when due all taxes, assessments and other liabilities except as contested in good faith and by appropriate proceedings and for which adequate reserves have been established; 

  

	 	(p)	No Defaults. No event or condition exists under any material agreement, instrument or document to which Debtor is a party or may be subject, or by which Debtor or any of its
properties are bound, which constitutes a default or an event of default thereunder, or will, with the giving of notice, passage of time, or both, would constitute a default or event of default thereunder; 

  

	 	(q)	Certification of Financial Information. All reports, certificates, schedules, notices and financial information submitted by Debtor to the Secured Party pursuant to this
Agreement shall be certified as true and correct by the president or chief financial officer of Debtor; and 

  

	 	(r)	Notice of Material Adverse Change. Debtor shall give the Secured Party prompt written notice of any event, occurrence or other matter which (a) has resulted or may
result in a material adverse change in its financial condition, business operations, prospects, product development, technology, or business or contractual relations with third parties of Debtor, or (b) which would impair the ability of Debtor
to perform its obligations hereunder or under any of the other financing agreements to which it is a party, or (c) which would impair the ability of Secured Party to enforce the Indebtedness or realize upon the Collateral.

  

	 	(s)	[paragraph intentionally omitted] 

  

	 	(t)	[paragraph intentionally omitted] 

  

	 	(u)	Audits. Debtor shall allow Secured Party to audit Debtor’s Collateral at Debtor’s expense. Such audits will be conducted no more often than every six
(6) months unless a default has occurred and is continuing. 

  

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	 	(v)	Perfection Certificate. Debtor has previously delivered to the Secured Party a certificate signed by the Debtor and entitled “Perfection Certificate” (the
“Perfection Certificate”). The Debtor represents and warrants to the Secured Party as follows: (a) the Debtor’s exact legal name is that indicated on the Perfection Certificate and on the signature page hereof, (b) the
Debtor is an organization of the type, and is organized in the jurisdiction set forth in the Perfection Certificate, (c) the Perfection Certificate accurately sets forth the Debtor’s organizational identification number or accurately
states that the Debtor has none, (d) the Perfection Certificate accurately sets forth the Debtor’s place of business or, if more than one, its chief executive office, as well as the Debtor’s mailing address, if different, (e) all
other information set forth on the Perfection Certificate pertaining to the Debtor is accurate and complete, and (f) that there has been no change in any information provided in the Perfection Certificate since the date on which it was executed
by the Debtor 

  

	 	(w)	Primary Account and Wire Transfer Instructions. Debtor maintains its Primary Account (the “Primary Operating Account”) and the Wire Transfer Instructions for the
Primary Operating Account are as follows: 

 Bank of America 
 Street Address: 301 S. Kings Drive Charlotte, NC 
 ABA No.: 053 000 196 
 Account No.: 650708943 
 Account Name: Biolex, Inc. 
 Debtor hereby agrees that Loans will be advanced to the account specified above and, unless given alternate primary account information by November 1, 2005,
regularly scheduled payments will be automatically debited from the same account. 
  

	 	(x)	Right to Invest. So long as this Agreement or any Note remain in effect: 

  

	 	(i)	Debtor will, if it so elects in its reasonable sole discretion, provide Secured Party (A) reasonable prior written notice of each Subsequent Financing containing the terms,
conditions and pricing of each Subsequent Financing, and (B) a reasonable opportunity in the Secured Party’s discretion to invest up to $500,000 in each of such Subsequent Financings on the same terms, conditions and pricing offered to the
investors in such financings. 

  

	 	(ii)	If Debtor at any time shall amend its Third Amended and Restated Investor Rights Agreement (“Investor Rights Agreement”) in any way that results in a change of the terms
thereof that would allow Secured Party to be included in the group of Investors to whom investment rights are given without an amendment or waiver by other Investors who are parties to the Investor Rights Agreement being required, then Debtor shall
grant to Secured Party an absolute right (but not an obligation) to invest up to $500,000 in each of the Debtor’s Subsequent Financings on the same terms, conditions and pricing offered to the lead investor of such financing. Debtor shall give
Secured Party at least thirty (30) days prior written notice of each Subsequent Financing containing the terms, conditions and pricing of each Subsequent Financing. 

  

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 As used herein, “Subsequent Financing” shall mean the next and any future round of private
equity financing in which the Debtor receives, in the aggregate, at least Two Million Dollars ($2,000,000.00) of gross cash proceeds (excluding any bridge debt financing except to the extent actually converted to equity in the Debtor. 
  

	3.	COLLATERAL. 

 The Debtor, covenants and agrees that,
so long as any of the Debt Documents shall remain in effect, or unless the Secured Party shall otherwise consent in writing: 
  

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

  

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

  

	 	(c)	Disposition of Collateral. Secured Party does not authorize and Debtor agrees it shall not (i) part with possession of any of the Collateral (except to Secured Party or
for maintenance and repair), (ii) remove any of the Collateral from the continental United States, or (iii) sell, rent, lease, mortgage, license, grant a security interest in or otherwise transfer or encumber (except for Permitted Liens)
any of the Collateral. 

  

	 	(d)	Taxes. Debtor shall pay promptly when due all taxes, license fees, assessments and public and private charges levied or assessed on any of the Collateral, on its use, or on
this Agreement or any of the other Debt Documents. At its option, in the event Debtor fails to do so within five (5) days of the due date, Secured Party may discharge taxes, liens, security interests or other encumbrances at any time levied or
placed on the Collateral and may pay for the maintenance, insurance and preservation of the Collateral and effect compliance with the terms of this Agreement or any of the other Debt Documents. Debtor agrees to reimburse Secured Party, on demand,
all reasonable costs and expenses incurred by Secured Party in connection with such payment or performance and agrees that such reimbursement obligation shall constitute Indebtedness. 

  

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

  

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

  

	 	(g)	Change of Address, Name or Jurisdiction. The Debtor has not at any time within the past four (4) months either changed its name or changed the state of jurisdiction in
which it is organized and existing, nor has it maintained its chief executive office or any of the Collateral at any other location, except as set forth above, and shall not do so hereafter except upon written notice to the Secured Party. The
Secured Party shall be entitled to rely upon the foregoing unless it receives written notice of a change in the Debtor’s name, state of jurisdiction, address of the Debtor’s chief executive offices or location of the Collateral within
fourteen (14) days after any such change. 

  

	 	(h)	Fixtures. Not permit any item of the Collateral to become a fixture to real estate or an accession to other property without the prior written consent of the Secured Party,
and the Collateral is now and shall at all times remain personal property except with the Secured Party’s prior written consent. If any of the Collateral is or will be attached to real estate in such a manner as to become a fixture under
applicable state law and if such real estate is encumbered, the Debtor will obtain from the holder of each Lien or encumbrance a written consent and subordination to the security interest hereby granted, or a written disclaimer of any interest in
the Collateral, in a form acceptable to the Secured Party. 

  

	 	(i)	[paragraph intentionally omitted] 

  

	 	(j)	[paragraph intentionally omitted] 

  

	 	(k)	Insider Indebtedness. Debtor shall not incur any indebtedness for borrowed money or lease obligations (collectively, “Inside Loans”) from any of its
officers, directors or shareholders (collectively, “Insider Lenders”) unless each of the Insider Lenders have executed and delivered subordination agreements in favor of Secured Party, in form satisfactory to Secured Party,
which subordinate all of the Inside Loans to the Indebtedness. 

  

	 	(l)	[paragraph intentionally omitted] 

  

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 MSA #5081101 
  

	4.	INSURANCE. 

  

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

  

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

  

	5.	REPORTS. 

  

	 	(a)	Notice of Events. Debtor shall promptly notify Secured Party of (i) any change in the name of Debtor, (ii) any change in the state of its incorporation or
registration, (iii) any relocation of its chief executive offices, (iv) any of the Collateral being lost, stolen, missing, destroyed, materially damaged or worn out, (v) any lien, claim or encumbrance other than Permitted Liens
attaching to or being made against any of the Collateral, (vi) any event, occurrence or other matter which may result in an exercise of Debtor’s stock redemption rights under the mandatory redeemable stock agreement as more fully described
in Debtor’s Articles/Certificate of Incorporation; or (vii) any occurrence of any default pursuant to Section 7 herein. 

  

	 	(b)	 Financial Statements. Reports and Certificates. Debtor will deliver to Secured Party within ninety (90) days of the close of each fiscal year of Debtor,
Debtor’s complete financial statements including a balance sheet, income statement, statement of shareholders’ equity and statement of cash flows, each prepared in accordance with generally accepted accounting principles consistently
applied, certified by a recognized firm of certified public accountants satisfactory to Secured Party. Debtor will deliver to Secured Party copies of Debtor’s quarterly financial statements including a balance sheet, income statement and
statement of cash flows, each prepared by Debtor in accordance with generally accepted accounting 

  

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principles consistently applied by Debtor and certified by Debtor’s chief financial officer, within forty-five (45) days after the close of each of
Debtor’s fiscal quarter. Debtor will deliver to Secured Party copies of all Forms 10-K and l0-Q, if any, within 30 days after the dates on which they are filed with the Securities and Exchange Commission. Debtor will deliver to Secured Party
copies of Debtor’s monthly financial statements including a balance sheet and income statement, and statement of cashflows, each prepared by Debtor in accordance with generally accepted accounting principles consistently applied by Debtor and
certified by Debtor’s chief financial officer, within thirty (30) days after the close of each month. Concurrently with delivery of the foregoing information, and from time to time promptly upon request of Secured Party, Debtor will
deliver to Secured Party a Compliance Certificate substantially consistent with the form of the document attached hereto as Schedule A. Debtor will deliver to Secured Party promptly upon request of Secured Party, in form satisfactory to Secured
Party, such other and additional information as Secured Party may reasonably request from time to time. 

  

	6.	FURTHER ASSURANCES. 

  

	 	(a)	Further Assurances Regarding Security Interests. Debtor shall, upon request of Secured Party, furnish to Secured Party such further information, execute and deliver to
Secured Party such documents and instruments (including, without limitation, Uniform Commercial Code financing statements) and shall do such other acts and things as Secured Party may at any time reasonably request relating to the perfection or
protection of the security interest created by this Agreement or for the purpose of carrying out the intent of this Agreement. Without limiting the foregoing, Debtor shall cooperate and do all acts reasonably deemed necessary or advisable by Secured
Party to continue in Secured Party a perfected first security interest in the Collateral, and shall obtain and furnish to Secured Party any subordinations, releases, landlord waivers, lessor waivers, mortgagee waivers, or control agreements, and
similar documents as may be from time to time requested by, and in form and substance satisfactory to, Secured Party. 

  

	 	(b)	 Authorization To File Financing Statements. Debtor shall perform any and all acts reasonably requested by the Secured Party to establish, maintain and
continue the Secured Party’s security interest and liens in the Collateral, including but not limited to, executing or authenticating financing statements and such other instruments and documents when and as reasonably requested by the Secured
Party. Debtor hereby authorizes Secured Party through any of Secured Party’s employees, agents or attorneys to file any and all financing statements, including, without limitation, any original filings, continuations, transfers or amendments
thereof required to perfect Secured Party’s security interest and liens in the Collateral under the UCC including any legally required authentication or execution by Debtor. Debtor hereby irrevocably authorizes the Secured Party at any time and
from time to time to file in any filing office in any Uniform Commercial Code jurisdiction any initial financing statement(s) and amendments thereto that (a) indicate the Collateral (i) is subject to Secured Party’s security interest,
regardless of whether any particular asset comprised in the Collateral falls within the 

  

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scope of Article 9 of the Uniform Commercial Code of the State or such jurisdiction, or (ii) as being of an equal or lesser scope or with greater
detail, and (b) provide any other information required by part 5 of Article 9 of the Uniform Commercial Code of the State or such other jurisdiction for the sufficiency or filing office acceptance of any financing statement or amendment,
including (i) whether the Debtor is an organization, the type of organization and any organization identification number issued to the Debtor, and (ii) in the case of a financing statement filed as a fixture filing, a sufficient
description of real property to which the Collateral relates. The Debtor agrees to furnish any such information to the Secured Party promptly upon the Secured Party’s request. 

  

	 	(c)	Indemnification. Debtor shall indemnify and defend the Secured Party, its successors and assigns, and their respective directors, officers and employees, from and against all
claims, actions and suits (including, without limitation, related attorneys’ fees) of any kind whatsoever arising, directly or indirectly, in connection with Debtor’s use, ownership or operation of the Collateral or Debtor’s breach in
its performance of the Debt Documents; provided, however, Debtor shall have no obligation to indemnify Secured Party hereunder from and against any claims, actions or suits attributable to Secured Party’s negligence or breach in its performance
of the Debt Documents. 

  

	7.	DEFAULT AND REMEDIES. 

  

	 	(a)	Defaults. Debtor shall be in default under this Agreement and each of the other Debt Documents if any one of the following should occur: 

  

	 	(i)	Debtor breaches its obligation to pay within seven (7) days of the due date any installment or other amount due or coming due under any of the Debt Documents;

  

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

  

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

  

	 	(iv)	Debtor materially breaches any of its obligations under Section 2(m) or Section 3(k); 

  

	 	(v)	Debtor materially breaches any of its other non-payment obligations under any of the Debt Documents and fails to cure that breach within thirty (30) days after it has occurred;

  

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

  

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

  

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

  

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

  

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

  

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

  

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

  

	 	(xiii)	Debtor’s improper filing of an amendment or termination statement relating to a tiled financing statement describing the Collateral; 

  

	 	(xiv)	Without the prior written consent of Secured Party, which consent shall not be unreasonably withheld or delayed, if Debtor shall merge with or consolidate into any other entity or
sell all or substantially all of its assets or in any manner terminate its existence; 

  

	 	(xv)	If Debtor is a privately held corporation, without the prior written consent of Secured Party, which consent shall not be unreasonably withheld or delayed, more than 50% of
Debtor’s voting capital stock, or effective control of Debtor’s voting capital stock, issued and outstanding from time to time, is not retained by the holders of such stock on the date the Agreement is executed; 

 

	 	(xvi)	Without the prior written consent of Secured Party, which consent shall not be unreasonably withheld or delayed, if Debtor is a publicly held corporation, there shall be a change in
the ownership of Debtor’s stock such that Debtor is no longer subject to the reporting requirements of the Securities Exchange Act of 1934 or no longer has a class of equity securities registered under Section 12 of the Securities Act of
1933; 

  

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	 	(xvii)	Debtor defaults under any agreement to pay Additional Indebtedness or any other financing arrangement for an amount in excess of $250,000 between Debtor and a third party; or

  

	 	(xviii)	[paragraph intentionally omitted] 

  

	 	(xix)	Secured Party shall have determined in its sole and good faith judgment that there has been a material adverse change in the financial condition, business, or operations that
materially impairs the ability of Debtor to perform its obligations hereunder or under any of the other Debt Documents or of Secured Party to enforce the Indebtedness or realize upon the Collateral. 

  

	 	(xx)	[paragraph intentionally omitted] 

  

	 	(b)	Acceleration. If Debtor is in default beyond applicable notice and cure periods, the Secured Party, at its option, may declare any or all of the Indebtedness to be
immediately due and payable, without demand or notice to Debtor or any Guarantor (provided that if there is a default as a result of a bankruptcy or insolvency all Indebtedness shall become immediately due and payable without any action by Secured
Party). The accelerated obligations and liabilities shall bear interest (both before and after any judgment) until paid in full at the Default Rate. 

  

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

  

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of the Collateral is to be made shall be deemed to constitute reasonable notice if such notice is given to the last known address of Debtor at least five
(5) days prior to such action. Upon the continuation of a default beyond all applicable notice and cure periods, Debtor hereby appoints Secured Party as Debtor’s attorney-in-fact, with full authority in Debtor’s place and stead and in
Debtor’s name or otherwise, from time to time in Secured Party’s sole and arbitrary discretion, to take any action and to execute any instrument which Secured Party may deem necessary or advisable to accomplish the purpose of this
Agreement. Secured Party is granted a non-exclusive royalty free license to use Debtor’s Intellectual Property in connection with Secured Party’s disposition of Collateral in the exercise of Secured Party’s rights or remedies
hereunder. 

  

	 	(d)	Application of Proceeds. The proceeds and/or avails of the Collateral, or any part thereof, and the proceeds and the avails of any remedy hereunder (as well as any other
amounts of any kind held by Secured Party, at the time of or received by Secured Party after the occurrence of a default hereunder) shall be paid to and applied as follows: 

  

	 	a.	First, to the payment of all reasonable out-of-pocket costs and expenses, including all amounts expended to preserve the value of the Collateral, all costs of repossession,
storage, and disposition including without limitation attorneys’, appraisers’, and auctioneers’ fees, of foreclosure or suit, if any, and of such sale and the exercise of any other rights or remedies, and of all proper fees, expenses,
liability and advances, including reasonable legal expenses and attorneys’ fees, incurred or made hereunder by Secured Party, including without limitation, Secured Party’s Expenses; 

  

	 	b.	Second, to the payment to Secured Party of the amount then owing or unpaid on the Loans for scheduled payments, any accrued and unpaid interest, and all other Indebtedness
(provided, however, if such proceeds shall be insufficient to pay in full the whole amount so due, owing or unpaid upon the Loans, then to the unpaid interest thereon, then to the outstanding principal amount of the Loans, and then to the payment of
other amounts then payable to Secured Party under any of the Debt Documents or otherwise); and 

  

	 	c.	Third, to the payment of the surplus, if any, to Debtor, its successors and assigns, or to whomsoever may be lawfully entitled to receive the same. 

 

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

  

 Page 12 of 19 Pages 

 MSA #5081101 
  

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

  

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

  

	8.	MISCELLANEOUS. 

  

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

  

	 	(b)	 Notices. All notices to be given in connection with this Agreement shall be in writing, shall be addressed to the parties at their respective addresses set
forth in this Agreement (unless and until a different address may be specified in a 

  

 Page 13 of 19 Pages 

 MSA #5081101 
  

	 	 
written notice to the other party), and shall be deemed given (i) on the date of receipt if delivered in hand or by facsimile transmission, (ii) on
the next business day after being sent by express mail, and (iii) on the fourth business day after being sent by regular, registered or certified mail. As used herein, the term “business day” shall mean and include any day other than
Saturdays, Sundays, or other days on which commercial banks in New York, New York are required or authorized to be closed. 

  

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

  

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

  

	 	(e)	Entire Agreement. This Agreement and the Debt Documents constitute the entire agreement between the parties with respect to the subject matter of this Agreement and supersede
all prior understandings (whether written, verbal or implied) with respect to such subject matter. NEITHER THIS AGREEMENT NOR ANY OF THE DEBT DOCUMENTS SHALL BE CHANGED OR TERMINATED ORALLY OR BY COURSE OF CONDUCT, BUT ONLY BY A WRITING SIGNED BY
BOTH PARTIES. Section headings contained in this Agreement have been included for convenience only, and shall not affect the construction or interpretation of this Agreement. This Agreement is the result of negotiations between and has been reviewed
by each of Debtor and Secured Party executing this Agreement as of the date hereof and their respective counsel; accordingly, this Agreement shall be deemed to be the product of the parties hereto, and no ambiguity shall be construed in favor of or
against Debtor or Secured Party. 

  

	 	(f)	 Termination of Agreement. This Agreement shall continue in full force and effect until all of the Indebtedness has been indefeasibly paid in full to Secured
Party or its assignee; provided, that Debtor’s indemnity obligations set forth in Section 6(c) shall survive until all applicable statute of limitations periods with respect to actions that may be brought against Secured Party have run;
provided further that, Debtor’s obligations under Section 2(x) shall survive indefinitely until, by their terms, they are no longer operative. The surrender, upon payment or otherwise, of any Note or any of the other documents evidencing
any of the Indebtedness shall not affect the right of Secured Party to retain the Collateral for such other Indebtedness as may then exist or as it may be reasonably contemplated will exist in the future. This Agreement shall automatically be
reinstated if Secured Party is ever required to return or restore the payment of all or any portion of 

  

 Page 14 of 19 Pages 

 MSA #5081101 
  

	 	 
the Indebtedness (all as though such payment had never been made). Secured Party shall, at Debtor’s sole cost and expense, execute such further
documents and take such further actions as may be reasonably necessary to effect the release of its security interests contemplated by this paragraph, including duly executing and delivering termination statements for filing in all relevant
jurisdictions under the Code. 

  

	 	(g)	CHOICE OF LAW. DEBTOR AGREES THAT SECURED PARTY AND/OR ITS SUCCESSORS AND ASSIGNS SHALL HAVE THE OPTION BY WHICH STATE LAWS THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED:
(A) THE LAWS OF THE COMMONWEALTH OF VIRGINIA; OR (B) IF COLLATERAL HAS BEEN PLEDGED TO SECURE THE LIABILITIES, THEN BY THE LAWS OF THE STATE OR STATES WHERE THE COLLATERAL IS LOCATED, AT SECURED PARTY’S OPTION. THIS CHOICE OF STATE
LAWS IS EXCLUSIVE TO THE SECURED PARTY. DEBTOR SHALL NOT HAVE ANY OPTION TO CHOOSE THE LAWS BY WHICH THIS AGREEMENT SHALL BE GOVERNED. DEBTOR ACKNOWLEDGES THAT THIS AGREEMENT IS BEING SIGNED BY THE SECURED PARTY IN PARTIAL CONSIDERATION OF SECURED
PARTY’S RIGHT TO ENFORCE IN THE JURISDICTION STATED ABOVE. DEBTOR CONSENTS TO JURISDICTION IN THE COMMONWEALTH OF VIRGINIA OR THE STATE IN WHICH ANY COLLATERAL IS LOCATED AND VENUE IN ANY FEDERAL OR STATE COURT IN THE COMMONWEALTH OF VIRGINIA
OR THE STATE IN WHICH COLLATERAL IS LOCATED FOR SUCH PURPOSES AND WAIVES ANY AND ALL RIGHTS TO CONTEST SAID JURISDICTION AND VENUE AND ANY OBJECTION THAT SAID COUNTY IS NOT CONVENIENT. DEBTOR WAIVES ANY RIGHTS TO COMMENCE ANY ACTION AGAINST SECURED
PARTY IN ANY JURISDICTION EXCEPT VIRGINIA, OR IF SECURED PARTY CHOOSES TO LITIGATE IN A STATE WHERE COLLATERAL IS LOCATED THEN IN SUCH COUNTY AND STATE. 

  

	 	(h)	Power of Attorney. To facilitate direct collection, the Debtor hereby appoints the Secured Party and any officer or employee of the Secured Party, as the Secured Party may
from time to time designate, as attorney-in-fact for the Debtor to (a) endorse the name of the Debtor in favor of the Secured Party upon any and all checks, drafts, money orders, notes, acceptances or other evidences of payment or Collateral
that may come into the Secured Party’s possession; (b) do all acts and things necessary to carry out this Agreement and the transactions contemplated hereby, including signing the name of the Debtor on any instruments required by law in
connection with the transactions contemplated hereby and on financing statements as permitted by the Virginia Uniform Commercial Code. The Debtor hereby ratifies and approves all acts of such attorneys-in-fact, and neither the Secured Party nor any
other such attorney-in-fact shall be liable for any acts of commission or omission, or for any error of judgment or mistake of fact or law of any such attorney-in-fact. This power, being coupled with an interest, is irrevocable so long as the Loan
remains unsatisfied, or any Debt Document remains effective, as solely determined by the Secured Party. 

  

 Page 15 of 19 Pages 

 MSA #5081101 
  

	 	(i)	Loss. Depreciation or Other Damage. The Secured Party shall not be liable for or prejudiced by any loss, depreciation or other damage to Collateral unless caused by the
Secured Party’s willful and malicious act, and the Secured Party shall have no duty to take any action to preserve or collect any Collateral. 

  

	 	(j)	Demand; Protest. Debtor waives demand, protest, notice of protest, notice of default or dishonor, notice of payment and nonpayment, notice of any default, nonpayment at
maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees at any time held by Secured Party on which Debtor may in any way be liable. 

  

	9.	DEFINITIONS. 

 As used herein, the following terms,
when initial capital letters are used, shall have the respective meanings set forth below. In addition, all terms defined in the Code shall have the meanings given therein unless otherwise defined herein. 
 Defined Terms. As used in this Agreement, the following terms shall have the following meanings, unless the context otherwise requires: 
 “Additional Indebtedness” means, with respect to Debtor or any of its subsidiaries, the aggregate amount of, without duplication,
(a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (c) all obligations of such Person to pay the deferred purchase price of
property or services (excluding trade payables aged less than one hundred eighty (180) days), (d) all capital lease obligations of such Person, (e) all obligations or liabilities of others secured by a Lien on any asset of such
Person, whether or not such obligation or liability is assumed, (f) all obligations or liabilities of others guaranteed by such Person, and (g) any other obligations or liabilities which are required by GAAP to be shown as debt on the
balance sheet of such Person. Unless otherwise indicated, the term “Additional Indebtedness” shall include all Indebtedness of Debtor and all of its subsidiaries. 
 “Affiliate” of a Person is a Person that owns or controls directly or indirectly the Person, any Person that controls or is
controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company, that Person’s managers and members. 
 “Code” means the Virginia Uniform Commercial Code (including revised Article 9 thereof). 
 “Collateral” has the meaning given such capitalized term in Section 1. 
  

 Page 16 of 19 Pages 

 MSA #5081101 
  

 “Collateral Schedule” has the meaning given such capitalized term in
Section 1. 
 “Debt Documents” has the meaning given such capitalized term in Section 2(b).

 “Default Rate” is the lower of eighteen percent (18%) per annum or the maximum rate not prohibited by
applicable law. 
 “Indebtedness” has the meaning given such capitalized term in Section 1. 
 “Intellectual Property” shall mean (a) all of the Debtor’s right, title and interest, whether now owned or existing or
hereafter acquired or arising, in and to all domestic and foreign copyrights, copyright registrations and copyright applications, whether or not registered or filed with any governmental authority, together with (i) all renewals thereof,
(ii) all present and future rights of the Debtor under all present and future license agreements relating thereto, whether the Debtor is licensee or licensor thereunder, (iii) all income, royalties, damages and payments now or hereafter
due and/or payable to the Debtor thereunder or with respect thereto, including, without limitation, damages and payments for past, present or future infringements thereof, (iv) all of the Debtor’s present and future claims, causes of
action and rights to sue for past, present or future infringements thereof, and (v) all rights corresponding thereto throughout the world (collectively “Copyright Rights”); (b) all of the Debtor’s right, title
and interest, whether now owned or existing or hereafter acquired or arising, in and to all United States and foreign patents, and pending and abandoned United States and foreign patent applications, including, without limitation, the inventions and
improvements described or claimed therein, together with(i) any reissues, divisions, continuations, certificates of re-examination, extensions and continuations-in-part thereof, (ii) all present and future rights of the Debtor under all present
and future license agreements relating thereto, whether the Debtor is licensee or licensor thereunder, (iii) all income, royalties, damages and payments now or hereafter due and/or payable to the Debtor thereunder or with respect thereto,
including, without limitation, damages and payments for past, present or future infringements thereof, (iv) all of the Debtor’s present and future claims, causes of action and rights to sue for past, present or future infringements
thereof, and (v) all rights corresponding thereto throughout the world (collectively “Patent Rights”); (c) all of the Debtor’s right, title and interest, whether now owned or existing or hereafter acquired or
arising, in and to all domestic and foreign trademarks, trademark registrations, trademark applications and trade names, whether or not registered or filed with any governmental authority, together with (i) all renewals thereof, (ii) all
present and future rights of the Debtor under all present and future license agreements relating thereto, whether the Debtor is licensee or licensor thereunder, (iii) all income, royalties, damages and payments now or hereafter due and/or
payable to the Debtor thereunder or with respect thereto, including, without limitation, damages and payments for past, present or future infringements thereof, (iv) all of the Debtor’s present and future claims, causes of action and
rights to sue for past, present or future infringements thereof, and (v) all rights corresponding thereto throughout the world (collectively “Trademark 
  

 Page 17 of 19 Pages 

 MSA #5081101 
  

 
Rights”); (d) all present and future licenses and license agreements of the Debtor, and all rights of the Debtor under or in
connection therewith, whether the Debtor is licensee or licensor thereunder, including, without limitation, any present or future franchise agreements under which the Debtor is franchisee or franchisor, together with (i) all renewals thereof,
(ii) all income, royalties, damages and payments now or hereafter due and/or payable to the Debtor thereunder or with respect thereto, including, without limitation, damages and payments for past, present or future infringements thereof,
(iii) all claims, causes of action and rights to sue for past, present or future infringements thereof, and (iv) all rights corresponding thereto throughout the world (collectively “License Rights”); (e) all
present and future trade secrets of the Debtor; and (f) all other present and future intellectual property of the Debtor. 
 “Investor Rights Agreement” has the meaning given such capitalized term in Section 2(x). 
 “Lien(s)” shall mean any voluntary or involuntary mortgage, pledge, deed of trust, assignment, security interest, encumbrance, hypothecation, lien, or charge of any kind (including any conditional sale or other title
retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, and the filing of, or agreement to give, any financing statement under the Uniform Commercial Code or comparable law of any
jurisdiction). 
 “Loan” means an advance of credit by Secured Party to Debtor. 
 “Note” has the meaning given such capitalized term in Section 1. 
 “Perfection Certificate” has the meaning given in Section 2(v). 
 “Permitted Liens” means: (i) liens in favor of Secured Party, (ii) liens for taxes not yet due or for taxes being
contested in good faith and which do not involve, in the judgment of Secured Party, any risk of the sale, forfeiture or loss of any of the Collateral, and (iii) inchoate material men’s, mechanic’s, repairmen’s and similar liens
arising by operation of law in the normal course of business for amounts which are not delinquent. 
 “Person” is any
individual, sole proprietorship, partnership, limited liability company, joint venture, company association, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate,
entity or government agency. 
 “Primary Operating Account” has the meaning given such capitalized term in
Section 2(w). 
 “Secured Party’s Expenses” means all reasonable costs or expenses (including
reasonable attorneys’ fees and expenses) incurred in connection with the preparation, negotiation, documentation, administration and funding of the Debt Documents; and Secured Party’s reasonable attorneys’ fees, costs and expenses
incurred in amending, modifying, 

  

 Page 18 of 19 Pages 

 MSA #5081101 
  

 
enforcing or defending the Debt Documents (including fees and expenses of appeal or review), including the exercise of any rights or remedies afforded
hereunder or under applicable law, whether or not suit is brought, whether before or after bankruptcy or insolvency, including without limitation all fees and costs incurred by Secured Party in connection with Secured Party’s enforcement of its
rights in a bankruptcy or insolvency proceeding filed by or against Debtor or its property. 
 “Subordinated
Indebtedness” means Additional Indebtedness subordinated to the Indebtedness of Debtor to Secured Party on terms and conditions acceptable to Secured Party in its sole discretion. 
 “Subsequent Financing” has the meaning given such capitalized term in Section 2(x). 
 IN WITNESS WHEREOF, Debtor and Secured Party, intending to be legally bound hereby, have duly executed this Agreement in one or more counterparts,
each of which shall be deemed to be an original, as of the day and year first aforesaid. 
  

									
	 SECURED PARTY:
  
 Oxford Finance Corporation
	 		 	 DEBTOR:
  
 Biolex, Inc.

					
	By:	 	  
	 		 	By:	 	  

					
	 Name:
	 	  
	 		 	 Name:
	 	  

					
	Title:	 	  
	 		 	Title:	 	  

  

 Page 19 of 19 Pages 

 MSA #5081101 
  

 SCHEDULE A 
 FORM OF 
 COMPLIANCE CERTIFICATE 
 Oxford Finance Corporation 
 133 N. Fairfax Street 
 Alexandria, VA 22314 
  

	 	Re:	Biolex, Inc. 

 Gentlemen: 
 Reference is made to the Master Security Agreement dated as of             
    , 2005 (as the same have been and may be amended from time to time in writing, the “Loan Agreement”, the capitalized terms used herein as defined therein), between Oxford Finance Corporation and Biolex, Inc.
(the “Company”). 
 The undersigned authorized representative of the Company hereby certifies that in accordance with the
terms and conditions of the Loan Agreement, the Company is in complete compliance for the financial reporting period ending
                             with all required financial reporting under the Loan Agreement, except as
noted below. Attached herewith are the required documents supporting the foregoing certification. The undersigned further certifies that the accompanying financial statements have been prepared in accordance with Generally Accepted Accounting
Principles, and are consistent from one period to the next, except as explained below. 
 Indicate compliance status by circling Yes/No
under “Complies” 
  

					
	REPORTING REQUIREMENT	  	REQUIRED	  	COMPLIES
	 Interim Financial Statements
	  	Quarterly within 45 days	  	YES / NO
	 Monthly Financial Statements
	  	Monthly within 30 days	  	
	 Audited Financial Statements
	  	FYE within 30 days of issuance	  	
			
	 Date of most recent Board-approved
 Budget/plan
                                        
    
 Committed with Borrowing Request
	  		  	YES / NO
			
	Any change in budget/plan since prior Borrowing Request	  	YES / NO	  	

  

 Page 1 of 2 

 MSA #5081101 
  

 EXPLANATIONS 
  

			
	Very truly yours,
	
	Biolex, Inc.
		
	By:	 	  

	Name:	 	
	Title:*	 	

	*	Must be executed by Debtor’s Chief Financial Officer. 

  

 Page 2 of 2 

 SECRETARY’S CERTIFICATE 
 BIOLEX, INC. 
  

	To:	Oxford Finance Corporation 

 133 North Fairfax Street

 Alexandria, Virginia 22314 
 The undersigned,
Dale Sander, the duly elected Secretary of Biolex. Inc. (the “Corporation”), on behalf of the Corporation and not in his/her individual capacity, in order to induce Oxford Finance Corporation (“Oxford”) to enter into one
or more loans, leases or otherwise extend financial accommodations to or for the benefit of the Corporation, hereby certifies to Oxford that: 
 (i) The
Corporation is duly organized, validly existing and in good standing under the laws of the State of Delaware; 
 (ii) The Corporation has full corporate
power and authority to enter into one or more transactions, at any time and in any amount or form, with Oxford: (a) to borrow and otherwise effect loans and advances or extensions of credit; (b) to guaranty or otherwise provide financial
accommodations or additional security for the payment and performance of any obligations or indebtedness owing to Oxford by the Corporation or any other party; and (c) to sell, assign, transfer, mortgage, pledge, hypothecate, grant security
interests in, endorse and deliver to Oxford, any and all real or personal property of the Corporation, tangible or intangible, of every name and description, as security for the payment and performance of any obligations or indebtedness owing to
Oxford by the Corporation or any other party, or otherwise in connection with any of the foregoing (the “Authorized Transactions”); 
 (iii) Each
of the officers designated below (an “Authorized Officer”), is a duly elected (or appointed), qualified and acting officer of the Corporation, and the signature appearing opposite his or her name below is his or her genuine signature:

  

					
	 NAME
	 	OFFICE	 	SIGNATURE
			
	 Jan Turek
	 	CEO	 	
			
	 Dale Sandler
	 	CFO / Secretary	 	
			
	 Howard Heller
	 	Controller / Treasurer	 	

 (iv) Each Authorized Officer has full power and authority to act alone on behalf of the Corporation with respect
to the Authorized Transactions and to do and perform all acts and things, and to execute and deliver all instruments and documents of every kind and nature he or she may deem necessary, proper or incidental to, or which is otherwise required by
Oxford in connection with, completion of the Authorized Transactions, including but not limited to one or more leases, loan agreements, promissory notes, security agreements; schedules, riders, certificates, guaranties, pledge agreements,
subordination agreements, purchase orders or agreements, disbursement authorizations, invoices, bills of sale, intercreditor agreements, consents, disclaimers of interests, and UCC financing statements and any future modification(s) or amendments
thereof (“Authorized Documentation”), with such execution and delivery to be conclusive evidence that such Authorized Transactions have been duly and specifically authorized and approved by 

  

 Page 1 of 7 

 
the Board of Directors of the Corporation as being for the benefit of the Corporation in consideration of reasonably equivalent value to the Corporation, and
that such Authorized Documentation is intended by the Board of Directors to constitute the valid and legally binding obligations of the Corporation, enforceable by Oxford in accordance with its terms; 
 (v) Schedule A attached hereto is a true and complete copy of the Certificate of Incorporation of the Corporation and any amendments thereto. The Certificate is
in full force and effect as of the date hereof, have not been amended or waived and neither the directors nor the shareholders of the Corporation have passed, confirmed or consented to any amendments or variation to the said Certificate. 

(vi) Schedule B attached hereto is a true and complete copy of all of the by-laws of the Corporation which have been duly enacted by the directors of the
Corporation and confirmed by the shareholders of the Corporation in accordance with applicable legislation. The by-laws are in full force and effect, unamended, as of the date hereof and neither the directors nor the shareholders have passed,
approved, ratified, confirmed or consented to any resolutions amending or varying the by-laws. 
 (vii) Schedule C attached hereto is a true and
correct copy of a resolution duly passed by the directors of the Corporation with effect as of             , 200   (the “Resolution”) in accordance with
applicable law. The Resolution is the only resolution of the directors of the Corporation pertaining to the subject matter thereof and is in full force and effect, unamended, as of the date hereof. 
 (viii) No act or proceedings have been taken by or, to my knowledge, against or, to my knowledge, are pending in connection with, and the Corporation is not in the
course of and has not received any notice with respect to, merger, consolidation, winding-up, surrender of charter, cancellation of charter, dissolution, liquidation, insolvency, bankruptcy, reorganization or a sale of assets out of the ordinary
course of business. 
 (ix) The Corporation shall furnish written notice to Oxford of any revocation, modification or amendment of any corporate action
affecting any of the foregoing certifications, and Oxford shall be entitled to rely on these certifications until such notice is received by Oxford. 
 IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Corporation, this 28th day of September, 2005. 
  

	
	  

	Signature of Secretary

  

 Page 2 of 7 

 ATTEST: 
 The
undersigned does hereby certify that he/she is Controller/Treasurer of the above Corporation and does hereby certify that Dale Sander was, at the time he/she executed the foregoing Certificate, a duly elected, qualified and acting Secretary
of the Corporation, and he/she was duly authorized and empowered to do so, and the signature thereon is genuine. 
  

	
	
	  
	Signature of Corporate Officer
	Attesting Secretary Signature

  

 Page 3 of 7 

 SCHEDULE A 
 CERTIFICATE OF INCORPORATION 
  

 Page 4 of 7 

 Secretary’s Certificate 
 FURTHER RESOLVED, that any schedules, assignments, bills of sale, promissory notes, security agreement, or other instruments,
             or documents executed pursuant to these Resolutions by an officer of this Corporation, or by an employee of this Corporation
             pursuant to delegation of authority, may be in such form and contain such terms, provisions, representations and warranties as they shall in their sole discretion
determine; 
 FURTHER RESOLVED, that all acts and deeds heretofore done by any of such officers of this Corporation for and on behalf of this
Corporation in entering into, executing, acknowledging or attesting any schedules, assignments, bills of sale, promissory notes, security agreements or other instruments, agreements or documents, or in carrying out the terms and intentions of these
Resolutions are hereby ratified, approved and confirmed; 
 FURTHER RESOLVED, that the Warrant to purchase up to 66,964 shares of the Series
BB Stock of the Corporation at a per share exercise price of $1.12, substantially in the form reviewed by and presented to the Board of Directors of the Corporation is hereby authorized, adopted, and approved in all respects, and the officers
of the Corporation be, and hereby are, authorized, upon the satisfaction of any and all applicable conditions set forth in the Loan Agreements, in consideration of the Equipment Loan Transaction, to execute and deliver the Warrant on such terms and
conditions as set forth in the Warrant with such additions, deletions, amendments, and modifications as such officer may deem in his sole discretion, necessary or advisable, the execution and delivery thereof to be conclusive evidence of his
authority pursuant to this resolution; 
 FURTHER RESOLVED, that the Corporation hereby reserves 66,964 shares of the Series BB Stock (the
“Warrant Shares”) for issuance upon exercise of the Warrant; 
 FURTHER RESOLVED, that in the event the number of Warrant Shares or
other securities issuable upon exercise of the Warrant shall increase or decrease pursuant to the terms of the Warrant, the number of shares or other securities reserved for issuance pursuant to such exercise shall automatically, without further
action by the Corporation, increase or decrease to equal the number of shares or other securities at any time issuable upon exercise of the Warrant; 
 FURTHER RESOLVED, that the Corporation hereby reserves a number of shares of Common Stock of the Corporation sufficient to satisfy the conversion provisions of the Warrant Shares issued upon exercise of the Warrant,
and that, in the event the number of shares of Common Stock issuable upon conversion of the Warrant Shares shall increase or decrease pursuant to the rights of such shares, the shares of Common Stock reserved for issuance pursuant to the conversion
of the Warrant Shares shall automatically, without further action by the Corporation, increase or decrease to equal the number of shares of Common Stock at any time issuable upon conversion of the Warrant Shares; 
 FURTHER RESOLVED, that upon exercise of the Warrant on the terms stated in the Warrant (including payment of the exercise price) and upon conversion of
the Warrant Shares, the shares or other securities so issued shall be and constitute validly issued, fully paid and nonassessable shares or other securities of the Corporation; and 
  

 Page 5 of 7 

 FURTHER RESOLVED, that upon any increase or decrease in the number of shares of capital stock or other
securities of the Corporation reserved for issuance as provided above, the officers of the Corporation be, and hereby are, authorized and directed to execute a certificate stating the number of shares or other securities reserved for issuance as
provided above, and to insert such certificate in the minute book of the Corporation, provided that failure to do so shall not affect the number of shares reserved for issuance. 
 IN WITNESS WHEREOF, we have hereunto set our hands as President and Secretary of said corporation and have
attached hereto the official seal of said corporation, this 28th day of September, 2005. 
  

	
	
	  
	Jan Turek, President

  

			
	  
	 	, Secretary

  

 Page 6 of 7 

					
	 STATE OF NORTH CAROLINA
	  	§	  	
		  	§	  	
	 COUNTY OF DURHAM
	  	§	  	

 This instrument was acknowledged before me on this 28th day of September 2005, by Jan Turek, President of Biolex, Inc., a Delaware corporation on behalf of said corporation. 
 Notary Public, State of North Carolina 
 My Commission Expires: 
  

					
	 STATE OF NORTH CAROLINA
	  	§	  	
		  	§	  	
	 COUNTY OF DURHAM
	  	§	  	

 This instrument was acknowledged before me on this 28th day of September 2005, by Dale Sandler, Secretary of Biolex, Inc., a Delaware corporation on behalf of said corporation. 
 Notary Public, State of North Carolina 
 My Commission Expires: 
  

 Page 7 of 7 

 COLLATERAL MIX RIDER 
 TO 
 MASTER SECURITY AGREEMENT NO. 5081101 
 DATED SEPTEMBER 21, 2005 
 BETWEEN 
 OXFORD FINANCE CORPORATION (the “SECURED PARTY”) 
 AND 
 BIOLEX, INC. (the “DEBTOR”) (the “MASTER SECURITY AGREEMENT”) 
 Debtor shall cause the composition and mix of equipment constituting Collateral under the Master Security Agreement (in relation to the Indebtedness (as defined in the
Master Security Agreement) outstanding at such time) to conform to and meet the concentration requirements (hereinafter “Concentration Requirement”) for each class of equipment (hereinafter “Equipment Class”) identified and set
forth below. Debtor herein represents and warrants that it shall maintain each such Equipment Class and its respective Concentration Requirement at all times during the funding period of July 15, 2005 through July 15, 2006, except where
Secured Party (at its sole and absolute discretion) authorizes any variance from the Concentration Requirement (“Concentration Variance”). If Secured Party authorizes the Concentration Variance then, within 120 days of the date such
Concentration Variance occurs, Debtor will do one of the following (a “Concentration Correction”) for such period that the applicable Concentration Requirement is not otherwise maintained hereunder: 
  

	 	1.	Grant to Secured Party a security interest in additional equipment satisfactory to Secured Party, not previously subject to Secured Party’s security interest (collectively, the
“Additional Equipment”), in sufficient type and amount so that the Concentration Requirement set forth below is met and the Concentration Variance is eliminated. The Additional Equipment shall be subject to all of the terms and conditions
of the Master Security Agreement, including without limitation, Debtor’s representations, warranties, and covenants, which shall be deemed remade by Debtor upon its grant of a security interest in the Additional Equipment.

  

	 	2.	Pay Secured Party cash in an amount equal to the Concentration Variance to hold as cash collateral. Debtor hereby grants Secured Party a security interest in such cash collateral
and all proceeds and products thereof. Debtor agrees that such cash collateral held by Secured Party: (a) shall not bear interest, (b) may be commingled with other funds of Secured Party, and (c) may be applied by Secured Party to
amounts owing by Debtor upon the occurrence and during the continuance of any Event of Default under the Master Security Agreement or the Note. 

 The failure of Debtor to do a Concentration Correction within the 120-day time period shall constitute a Default under
the Note and the Master Security Agreement. 
  

			
	Equipment Class	 	Concentration Requirement
		
	 Laboratory and Pharmaceutical
 Manufacturing Equipment

	 	Minimum of 60%
		
	Soft	 	Maximum of 40% (No Minimum)

 Dated as of: 9/29/05 
  

									
	OXFORD FINANCE CORPORATION	 		 	BIOLEX, INC.
					
	By:	 	  
	 		 	By:	 	  

					
	Name:	 	  
	 		 	Name:	 	  

					
	Title:	 	  
	 		 	Title:	 	  

 AMENDMENT AGREEMENT 
 THIS AMENDMENT AGREEMENT (this “Amendment”) is made this day of June, 2006, by and between Biolex, Inc. (“Debtor”) and Oxford
Finance Corporation (“Secured Party”) with respect to the following facts: 
 RECITALS 
 A. Debtor and Secured Party have entered into that certain Master Security Agreement No. 5081101 dated as of September 21, 2005 (together
with all agreements entered into in connection therewith, the “MSA”). 
 B. Debtor and Secured Party wish to amend the MSA to
reflect the change of Primary Account for Debtor. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Debtor and Secured Party agree that paragraph 2(w) of the MSA is hereby amended as follows: 
 2.
(r) Primary Account and Wire Transfer Instructions. Debtor maintains its Primary Account (the “Primary Operating Account”) ,and the Wire Transfer Instructions for the Primary Operating Account are as follows: 

Bank Name: Wachovia Bank N.A. 
 Street Address: 3015 S              Street 
 City,
State, Zip: Charlotte, NC 
 ABA No.: 053000219 
 Account No.: 2000017691646 
 Account Name: Biolex, Inc. 
 Debtor hereby agrees that Loans will be advanced to the account specified above and regularly scheduled payments will be automatically debited from the
same account. 
 Except as expressly amended as set forth above, all of the terms of the MSA remain in full force and effect and unmodified.

 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective duly authorized representatives the date
first set forth above. 
  

									
	 Debtor:
 Biolex, Inc.
	 		 	 Secured Party:
 Oxford Finance
Corporation:

					
	By:	 	  
	 		 	By:	 	  

					
	Title:	 	  
	 		 	Title:	 	  

  

 Page 1 of 1 

 COLLATERAL SCHEDULE NO. 01 
 THIS COLLATERAL SCHEDULE NO. 01 is annexed to and made a part of that certain Master Security Agreement No. 5081101 dated as of September 27, 2005 (“Agreement”), between Oxford
Finance Corporation, together with its successors and assigns, if any, as Secured Party and Biolex, Inc. as Debtor and describes collateral in which Debtor has granted Secured Party a security interest in connection with the Indebtedness (as defined
in the Security Agreement) including without limitation that certain Promissory Note dated September 29th 2005, in the original principal amount of $3,588,930.15 (“Note”). 
 Debtor hereby reaffirms all of the representations, warranties, and covenants contained in the Agreement and the Note as of the date hereof and further represents and warrants to Secured Party that no default has
occurred and is continuing as of the date hereof. 
 Quantity, Manufacturer, Serial Number, Year/Model and Type of Equipment 
 See Attached Exhibit A 
 [Biolex to prepare Exhibit A per instructions from Secured Party] 
  

									
	 SECURED PARTY:
  
 Oxford Finance Corporation
	 		 	 DEBTOR:
  
 Biolex, Inc.

					
	By:	 	  
	 		 	By:	 	  

					
	 Name:
	 	  
	 		 	 Name:
	 	  

					
	Title:	 	  
	 		 	Title:	 	  

					
	 Date:
	 	  
	 		 	 Date:
	 	  

 Exhibit A 
 to Equipment Schedule 01 to the Master Security Agreement between Biolex and Oxford Finance 
  

			
	Company Name:	 	Biolex, Inc.
		
	Equipment Location:	 	158 Credle Street, Pittsboro NC 27312

  

																															
	 Item
	 	 Supplier
	 	 Equip
Code
	 	 Description
	 	QTY	 	 Serial #
	 	Price	 	Ext. Price	 	Invoice
Subtotal	 	Vendor
Subtotal	 	PO #	 	Invoice #	 	Inv Date	 	Ck #	 	Ck Amt
	1	 	Amersham Biosciences	 	LAB	 	AktaExplorer 10S with control unit and fraction co. Chromotography system used for protein purification.	 	1	 	01160636	 	62,744.92	 	62,744.92	 	$	62,744.92	 	$	62,744.92	 	5976	 	2221636	 	3/25/2005	 	11918	 	88,000.00
		 		 	LAB	 	AktaExplorer 100 w/Control unit & fraction coll. Chromotography system used for protein purification.	 	1	 	01159420	 	61,716.48	 	61,716.48	 	$	61,716.48	 	$	124,461.40	 	5976	 	2220690&2221636	 	3/24/2005	 	12179	 	96,554.80
		 		 	LAB	 	AktaPurifier 100 with fraction collector. Chromotography system used for protein purification.	 	1	 	01080942	 	50,036.96	 	50,036.96	 	$	50,036.96	 	$	174,498.36	 	5976	 	2220690&2221636	 	3/24/2005	 	12179	 	96,554.80
		 		 	LAB	 	Electrophoresis w/Thermostatic Circulator	 	1	 	01170245	 	5,390.00	 	5,390.00	 	$	5,390.00	 	$	179,888.36	 	6331	 	2271644	 	5/31/2005	 	12708	 	6,607.65
		 		 	LAB	 	EPS 3501XL Power Supply	 	1	 	01165658	 	3,508.00	 	3,508.00	 	$	3,508.00	 	$	183,396.36	 	6660	 	2294367	 	6/28/2005	 	12963	 	4,432.40

																															
	 Item
	 	 Supplier
	 	 Equip
Code
	 	 Description
	 	QTY	 	 Serial #
	 	Price	 	Ext. Price	 	Invoice
Subtotal	 	Vendor
Subtotal	 	PO #	 	Invoice #	 	Inv Date	 	Ck #	 	Ck Amt
	 2
	 	Dell	 	COMP	 	Dell Latitude D600	 	1	 	CN-OD2125-48643-4CT-6669	 	2,356.64	 	2,356.64	 	$	2,356.64	 	$	2,356.64	 	Verbal	 	C94866633	 	1/17/2005	 	CC	 	2,654.92
		 		 	COMP	 	Dell Precision 370	 	1	 	1MQC071	 	1,269.00	 	1,269.00	 	$	1,269.00	 	$	3,625.64	 	Verbal	 	303432928	 	3/17/2005	 	12201	 	2,524.38
		 		 	COMP	 	Dell Dimiension 4700	 	1	 	CN-0X6252-70821-51C-F19Q	 	710.25	 	710.25	 	$	710.25	 	$	4,335.89	 	Verbal	 	303433074	 	3/18/2005	 	12201	 	2,524.38
		 		 	COMP	 	Dell Inspiron 600M	 	1	 	84R7Q71	 	1,426.50	 	1,426.50	 	$	1,426.50	 	$	5,762.39	 	6578	 	435762432	 	6/19/2005	 	12986	 	1,557.43
	3	 	Wintech	 	COMP	 	IBM T41 Thinkpad	 	5	 	 99-H68RC, 99-13BDX,
 99-12ZXC, 99-13BDA,
 99-13BDP
	 	2,840.00	 	14,200.00	 	$	14,200.00	 	$	14,200.00	 	Verbal	 	43894	 	1/18/2005	 	11410	 	15,245.36
		 		 	COMP	 	IBM T41 Thinkpad	 	5	 	 99-13BDY, 99-13BDZ,
 99-PLTM3, 99-PLWT6,
 99-H680W
	 	2,840.00	 	14,200.00	 	$	14,200.00	 	$	28,400.00	 	Verbal	 	44000	 	2/1/2005	 	11566	 	15,245.36
		 		 	COMP	 	IBM NetVista S50	 	13	 	818321UKCT1WC, 818321UKCLW4AY, 818321UKCLW5RV, 818321UKCLT1WZ	 	978.00	 	12,714.00	 	$	12,714.00	 	$	41,114.00	 	Verbal	 	44067	 	2/1/2005	 	11633	 	13,672.46
		 		 		 		 		 	818321UKCLW4MG, 818321UKCLW5KF, 818321UKCLW7VR, 818321UKCLW4RR, 818321UKCLT1WT, 818321UKCLW5YD, 818321UKCLW8AD, 818321UKCLW3VN, 818321UKCLW5LK	 		 		 			 			 		 		 		 		 	
		 		 	COMP	 	IBM NetVista S50	 	2	 	818321UKCLW4MX, 818321UKCAM2LO	 	978.00	 	1,956.00	 	$	1,956.00	 	$	43,070.00	 	Verbal	 	44056	 	1/27/2005	 	11516	 	2,880.31
		 		 	COMP	 	IBM NetVista S50	 	10	 	11S71P6695YJ1RD3KQ6050, 1S8183XXD6AS8328, 11S71P6695YJ1RD3KV6141, 818321UKCLW4AP, 818321UKCLW7NH	 	978.00	 	9,780.00	 	$	9,780.00	 	$	52,850.00	 	Verbal	 	44187	 	2/16/2005	 	11720	 	10,533.08

																															
	 Item
	 	 Supplier
	 	 Equip
Code
	 	 Description
	 	QTY	 	 Serial #
	 	Price	 	Ext. Price	 	Invoice
Subtotal	 	Vendor
Subtotal	 	PO #	 	Invoice #	 	Inv Date	 	Ck #	 	Ck Amt
		 		 		 		 		 	818321UKCLW4BB, 818321UKCLW5TP, 11S71P6695YJ1RD3KV6159, 818321UKCLW4FV, 818321UKCLW4MC	 		 		 			 			 		 		 		 		 	
		 		 	COMP	 	IBM NetVista S50	 	15	 	818321UKCLW5DX, 818321UKCLW8CF, 818321UKCLW3ML, 818321UKCLW3XR, 818321UKCLW3ZK, 818321UKCLW7WY, 818321UKCLW4FY	 	978.00	 	14,670.00	 	$	14,670.00	 	$	67,520.00	 	Verbal	 	44300	 	3/1/2005	 	11850	 	15,769.66
		 		 		 		 		 	818321UKCLW4FL, 818321UKCLW4BL, 818321UKCLW4AC, 818321UKCLW4AH, 818321UKCLW4LY, 818321UKCLW4CT, 818321UKCLW4AG, 818321UKCLW4VM	 		 		 			 			 		 		 		 		 	
		 		 	COMP	 	IBM NetVista M50	 	1	 	8187D3UKCRZ09X	 	794.00	 	794.00	 	$	794.00	 	$	68,314.00	 	Verbal	 	44459	 	3/23/2005	 	12171	 	862.42
		 		 	COMP	 	IBM T41 Thinkpad	 	5	 	 99-PLWX4, 99-H77AD,
 99-PLWY3, 99-PLWW5,
 99-PLWZ8
	 	2,840.00	 	14,200.00	 	$	14,200.00	 	$	82,514.00	 	Verbal	 	44630	 	4/6/2005	 	12241	 	15,507.51

																															
	 Item
	 	 Supplier
	 	 Equip
Code
	 	 Description
	 	QTY	 	 Serial #
	 	Price	 	Ext. Price	 	Invoice
Subtotal	 	Vendor
Subtotal	 	PO #	 	Invoice #	 	Inv Date	 	Ck #	 	Ck Amt
		 		 	COMP	 	IBM NetVista S50	 	6	 	11S71P6695YJ1RD3KV1076, 11S71P6695YJ1RD3JM2278, 11S71P6695YJ1RD3KW4687, 11S71P6695YJ1RD3KW4683, 11S71P6695YJ1RD3KW4708, 11S71P6695YJ1RD3HN3210	 	1,108.00	 	6,648.00	 	$	6,648.00	 	$	89,162.00	 	Verbal	 	45656	 	8/9/2005	 	13316	 	7,164.72
		 		 	COMP	 	IBM T42 Thinkpad	 	1	 	99-WCLC3	 	2,594.00	 	2,594.00	 	$	2,594.00	 	$	91,756.00	 	Verbal	 	45534	 	7/26/2005	 	13124	 	9,364.64
		 		 	COMP	 	IBM NetVista S50	 	5	 	11S71P6695YJ1RD3JM8582, 11S71P6695YJ1RD3HN3161, 11S71P6695YJ1RD3JM2413, 11S71P6695YJ1RD3KW4688, 11S71P6695YJ1RD3KW4747	 	1,108.00	 	5,540.00	 	$	5,540.00	 	$	97,296.00	 	Verbal	 	45555	 	7/28/2005	 	13124	 	9,364.64
															
	5	 	Nuaire	 	LAB	 	Horizontal Laminar Airflow Cabinet NU-201-630	 	2	 	95033112404, 95034112404	 	4,136.00	 	8,272.00	 	$	8,272.00	 	$	8,272.00	 	5672	 	20042001	 	1/13/2005	 	11490	 	8,846.76
															
	6	 	Sytec	 	COMP	 	Watchguard Firebox X700	 	1	 	808109658-2337	 	3,069.00	 	3,069.00	 	$	3,069.00	 	$	3,069.00	 	BSQ1084	 	121176	 	1/26/2005	 	11838	 	4,600.18
															
	7	 	Ganesh	 	LAB	 	CNC Control for Milling Machine	 	1	 	CSD24248/SPL	 	14,340.00	 	14,340.00	 	$	14,340.00	 	$	14,340.00	 	5817	 	10939	 	2/1/2005	 	11941	 	11,684.00
		 		 		 		 		 		 		 		 			 			 		 		 		 	11518	 	2,921.00

																															
	 Item
	 	 Supplier
	 	 Equip
Code
	 	 Description
	 	QTY	 	 Serial #
	 	Price	 	Ext. Price	 	Invoice
Subtotal	 	Vendor
Subtotal	 	PO #	 	Invoice #	 	Inv Date	 	Ck #	 	Ck Amt
	8	 	BioRad	 	LAB	 	iCycler Thermal Cycler with laptop	 	1	 	582BR 012944	 	33,202.50	 	33,202.50	 	$	33,202.50	 	$	33,202.50	 	5713	 	SLI10123924	 	2/2/2005	 	11731	 	41,918.56
		 		 	LAB	 	Md GS-800 Imaging Densitometer	 	1	 	U9901-H9D0	 	14,525.00	 	14,525.00	 	$	14,525.00	 	$	47,727.50	 	6266	 	SLI10209690	 	5/20/2005	 	12644	 	23,167.73
		 		 	COMP	 	Beacon Design Software for iCycler	 	1	 	NA	 	1,515.25	 	1,515.25	 	$	1,515.25	 	$	49,242.75	 	5944	 	SLI10145874	 	3/1/2005	 	11925	 	1,630.86
															
	9	 	Precision Detectors	 	LAB	 	Enterprise PD2000 Detector, Model PD2115	 	1	 	1063700	 	43,901.00	 	43,901.00	 	$	43,901.00	 	$	43,901.00	 	6332	 	1003	 	5/27/2005	 	12759	 	46,179.61
															
	10	 	Thermo Electron Corp	 	LAB	 	NESLAB Merlin Series Chiller M-25	 	1	 	105111024	 	2,645.00	 	2,645.00	 	$	2,645.00	 	$	2,645.00	 	6351	 	259514	 	5/13/2005	 	12574	 	2,830.16
		 		 	LAB	 	Cryomed Freezer, 1.2 cf, Model 7452	 	1	 	502940-129	 	13,887.30	 	13,887.30	 	$	13,887.30	 	$	16,532.30	 	6044	 	1768960	 	4/6/2005	 	12268	 	16,521.05
															
	11	 	Molecular Devices	 	LAB	 	SpectraMax M@ w/Software Pro	 	1	 	02267	 	31,042.00	 	31,042.00	 	$	31,042.00	 	$	31,042.00	 	6391	 	303756	 	5/16/2005	 	12616	 	50,481.74
		 		 	LAB	 	Versamax Microplate Reader	 	1	 	BN03137	 	15,925.50	 	15,925.50	 	$	15,925.50	 	$	46,967.50	 	6392	 	303795	 	5/17/2005	 	12616	 	50,481.74
															
	12	 	Price’s Scientific	 	LAB	 	Revoc 25 Cu Ft -80 Freezer MD ULT2586-5-A37	 	1	 	Z030-274592-ZO	 	9,195.00	 	9,195.00	 	$	9,195.00	 	$	9,195.00	 	6124	 	13463	 	3/29/2005	 	12225	 	9,838.65
															
	13	 	Imaging Supplies	 	OFC	 	HP Laser 4350DTN	 	1	 	USBXM01212	 	2,236.75	 	2,236.75	 	$	2,236.75	 	$	2,236.75	 	5767	 	7477	 	1/28/2005	 	11478	 	2,825.60
		 		 	OFC	 	HP Laser 4350N	 	1	 	USBXM15041	 	1,780.42	 	1,780.42	 	$	1,780.42	 	$	4,017.17	 	6032	 	7845	 	3/15/2005	 	12045	 	2,397.09
															
	14	 	Silverson Machines	 	LAB	 	Silverson Model AX60 Batch Homogenizer	 	1	 	11129	 	6,245.00	 	6,245.00	 	$	6,245.00	 	$	6,245.00	 	5715	 	37341	 	1/25/2005	 	11997	 	6,245.00
															
	15	 	Trimech Solutions	 	COMP	 	COSMOS FloWorks 2005 Software	 	1	 	NA	 	11,995.00	 	11,995.00	 	$	11,995.00	 	$	11,995.00	 	5907	 	104459	 	1/31/2005	 	11714	 	16,011.16

																																
	 Item
	 	 Supplier
	 	 Equip
Code
	 	 Description
	 	QTY	 	 Serial #
	 	Price	 	Ext. Price	 	Invoice
Subtotal	 	Vendor
Subtotal	 	PO #	 	Invoice #	 	Inv Date	 	Ck #	 	Ck Amt
	16	 	AMEC	 	COMP	 	HP Design Jet 500 42” Printer/Plotter Model C7770B	 	1	 	SG38K6107B	 	2,703.85	 	2,703.85	 	$	2,703.85	 	$	2,703.85	 	NA	 	3940-A	 	1/13/2005	 	 	11458	 	3,394.70
															
	17	 	O’Neal Constructors LLC	 	SOFT	 	GMP construction	 	1	 	NA	 	85193.42	 	85193.42	 	 	85193.42	 	 	85193.42	 	NA	 	11221-25-012	 	$38,476.00	 	$	12,312.00	 	85193.42
		 		 	SOFT	 	GMP construction	 	1	 	NA	 	273,011.45	 	273,011.45	 	$	273,011.45	 	$	358,204.87	 	NA	 	11221-25-012	 	5/31/2005	 	 	12756	 	273,011.45
		 		 	SOFT	 	GMP construction	 	1	 	NA	 	567,665.14	 	567,665.14	 	$	567,665.14	 	$	925,870.01	 	NA	 	11221-25-012	 	6/30/2005	 	 	12952	 	567,665.14
		 		 	SOFT	 	GMP construction	 	1	 	NA	 	622,125.30	 	622,125.30	 	$	622,125.30	 	$	1,547,995.31	 	NA	 	11221-25-012	 	7/31/2005	 	 	13206	 	622,125.30
															
	18	 	Epix	 	LAB	 	Digital Imaging System	 	1	 	NA	 	3,110.00	 	3,110.00	 	$	3,110.00	 	$	3,110.00	 	6026	 	113548	 	3/14/2005	 	 	12123	 	3,128.00
															
	19	 	VWR	 	LAB	 	Beckman Microfuge Model 22R	 	1	 	MHB04L021	 	4,423.68	 	4,423.68	 	$	4,423.68	 	$	4,423.68	 	6018	 	21693098	 	3/11/2005	 	 	12087	 	11,356.12
		 		 	LAB	 	Incubator Model 1545	 	1	 	01010605	 	1,467.96	 	1,467.96	 	$	1,467.96	 	$	5,891.64	 	6096	 	21820389	 	3/23/2005	 	 	12169	 	3,198.19
		 		 	LAB	 	Revco Refrig/Chart recorder	 	1	 	S13P-115456-SP	 	3,821.29	 	3,821.29	 	$	3,821.29	 	$	9,712.93	 	6330	 	22470462	 	5/19/2005	 	 	12696	 	8,049.19
		 		 	LAB	 	Upright Revco freezer	 	1	 	T06P-279758-TP	 	7,895.90	 	7,895.90	 	$	7,895.90	 	$	17,608.83	 	6461	 	22748081	 	6/14/2005	 	 	13053	 	20,759.14
		 		 	LAB	 	Revco Refrig	 	1	 	T06P-115775-TP	 	3,821.29	 	3,821.29	 	$	3,821.29	 	$	21,430.12	 	6423	 	22925157	 	6/29/2005	 	 	13053	 	20,759.14
		 		 	LAB	 	Incubator Model 1545	 	1	 	06044505	 	2,484.52	 	2,484.52	 	$	2,484.52	 	$	23,914.64	 	6096	 	22827684	 	6/21/2005	 	 	13053	 	20,759.14
															
	20	 	Waters	 	LAB	 	Waters Alliance HPLC Analytical Equipment for Protein assays.	 	1	 	C05SM4 887M	 	51,920.00	 	51,920.00	 	$	51,920.00	 	$	51,920.00	 	6109	 	264175616	 	4/21/2005	 	 	12409	 	54,445.22

																															
	 Item
	 	 Supplier
	 	 Equip
Code
	 	 Description
	 	QTY	 	 Serial #
	 	Price	 	Ext. Price	 	Invoice
Subtotal	 	Vendor
Subtotal	 	PO #	 	Invoice #	 	Inv Date	 	Ck #	 	Ck Amt
		 		 	LAB	 	Waters Alliance HPLC Analytical Equipment for Protein assays.	 	1	 	D05SM4991M	 	38,960.00	 	38,960.00	 	$	38,960.00	 	$	90,880.00	 	6109	 	264175616	 	4/21/2005	 	12091	 	50,000.00
		 		 	COMP	 	Empower, System Suitability Software	 	2	 	NA	 	1,848.00	 	3,696.00	 	$	3,696.00	 	$	94,576.00	 	6634	 	264207866	 	6/24/2005	 	13057	 	130,251.73
		 		 	COMP	 	MALDI - 19” Monitor	 	1	 	NA	 	240.00	 	240.00	 	$	240.00	 	$	94,816.00	 	6138	 	264171635,
264185969,
264187144,
264200093	 	4/13/05,
5/12/05,
5/13/05,
6/9/05	 	13057	 	130,251.73
		 		 	COMP	 	MALDI - Lic., Maxent. Mass spectrophometer, analytical equipment for protein analysis.	 	1	 	NA	 	2,300.00	 	2,300.00	 	$	2,300.00	 	$	97,116.00	 	6138	 	264171635,
264185969,
264187144,
264200093	 	4/13/05,
5/12/05,
5/13/05,
6/9/05	 	13057	 	130,251.73
		 		 	COMP	 	MALDI - Masslynx. Mass spectrophometer analytical equipment for protein analysis.	 	1	 	NA	 	2,150.00	 	2,150.00	 	$	2,150.00	 	$	99,266.00	 	6138	 	264171635,
264185969,
264187144,
264200093	 	4/13/05,
5/12/05,
5/13/05,
6/9/05	 	13057	 	130,251.73
		 		 	COMP	 	MALDI - Kit, Transformation	 	1	 	NA	 	1,300.00	 	1,300.00	 	$	1,300.00	 	$	100,566.00	 	6138	 	264171635,
264185969,
264187144,
264200093	 	4/13/05,
5/12/05,
5/13/05,
6/9/05	 	13057	 	130,251.73
		 		 	COMP	 	MALDI - Kit, Proteinlynx	 	1	 	NA	 	9,900.00	 	9,900.00	 	$	9,900.00	 	$	110,466.00	 	6138	 	264171635,
264185969,
264187144,
264200093	 	4/13/05,
5/12/05,
5/13/05,
6/9/05	 	13057	 	130,251.73
		 		 	LAB	 	MALDI - Mass spectrophometer, analytical equipment for protein analysis.	 	1	 	BBA005	 	117,000.00	 	117,000.00	 	$	117,000.00	 	$	227,466.00	 	6138	 	264171635,
264185969,
264187144,
264200093	 	4/13/05,
5/12/05,
5/13/05,
6/9/05	 	13057	 	130,251.73
		 		 	COMP	 	Q-TOF - Kit, Proteinlynx	 	1	 	NA	 	8,250.00	 	8,250.00	 	$	8,250.00	 	$	235,716.00	 	6138	 	264185969	 	5/12/2005	 	12779	 	134,677.42

																															
	 Item
	 	 Supplier
	 	 Equip
Code
	 	 Description
	 	QTY	 	 Serial #
	 	Price	 	Ext. Price	 	Invoice
Subtotal	 	Vendor
Subtotal	 	PO #	 	Invoice #	 	Inv Date	 	Ck #	 	Ck Amt
		 		 	COMP	 	Q-TOF - Monitor	 	1	 	NA	 	240.00	 	240.00	 	$	240.00	 	$	235,956.00	 	6138	 	264185969	 	5/12/2005	 	12779	 	134,677.42
		 		 	COMP	 	Q-TOF - Nanolockspray Q-TOP spectrometer	 	1	 	NA	 	3,975.00	 	3,975.00	 	$	3,975.00	 	$	239,931.00	 	6138	 	264185969	 	5/12/2005	 	12779	 	134,677.42
		 		 	LAB	 	QTOF, Electro spray mass spectrophometer used for protein analysis.	 	1	 	UH186	 	105,000.00	 	105,000.00	 	$	105,000.00	 	$	344,931.00	 	6138	 	264185969	 	5/12/2005	 	12779	 	134,677.42
		 		 	COMP	 	Q-TOF - W/S Mlynx. Electro spray mass spectrophometer used for protein analysis.	 	1	 	NA	 	2,150.00	 	2,150.00	 	$	2,150.00	 	$	347,081.00	 	6138	 	264185969	 	5/12/2005	 	12779	 	134,677.42
		 		 	LAB	 	Waters Alliance HPLC Analytical Equipment for Protein assays.	 	1	 	C05SM4 796M	 	54,248.00	 	54,248.00	 	$	54,248.00	 	$	401,329.00	 	6138	 	264171635	 	4/13/2005	 	12331	 	197,158.67
		 		 	LAB	 	Waters Alliance HPLC Analytical Equipment for Protein assays.	 	1	 		 	72,408.00	 	72,408.00	 	$	72,408.00	 	$	473,737.00	 	6138	 	264171635	 	4/13/2005	 	12331	 	197,158.67
		 		 	LAB	 	Waters Alliance HPLC Analytical Equipment for Protein assays.	 	1	 		 	38,960.00	 	38,960.00	 	$	38,960.00	 	$	512,697.00	 	6138	 	264171635	 	4/13/2005	 	12331	 	197,158.67
	21	 	Percival Scientific	 	LAB	 	Biological Incubator MD I-30BLL	 	2	 	734L.01.05E & 734L.02.05E	 	7,355.00	 	14,710.00	 	$	14,710.00	 	$	14,710.00	 	5914	 	41984	 	5/6/2005	 	12619	 	15,119.28
	22	 	Beckman Coulter	 	LAB	 	JIA 9000 Fixed Angel Rotor	 	1	 	NA	 	14,900.00	 	14,900.00	 	$	14,900.00	 	$	14,900.00	 	6442	 	796003FT01	 	5/25/2005	 	12710	 	16,033.23

																															
	 Item
	 	 Supplier
	 	 Equip
Code
	 	 Description
	 	QTY	 	 Serial #
	 	Price	 	Ext. Price	 	Invoice
Subtotal	 	Vendor
Subtotal	 	PO #	 	Invoice #	 	Inv Date	 	Ck #	 	Ck Amt
	23	 	Insight	 	OFC	 	Infocus LCS XGA 2200 Lumens Projector	 	1	 	AJQN50300321	 	1,758.56	 	1,758.56	 	$	1,758.56	 	$	1,758.56	 	6090	 	97640988	 	3/19/2005	 	12047	 	2,225.73
	24	 	Dynamic Office	 	FURN	 	FireKing lateral file cabinet	 	1	 	N49399	 	1,500.00	 	1,500.00	 	$	1,500.00	 	$	1,500.00	 	5760	 	15446	 	1/31/2005	 	11984	 	2,450.30
		 		 	FURN	 	FireKing lateral file cabinet	 	2	 	6310003 & 6169038	 	2,486.00	 	4,972.00	 	$	4,972.00	 	$	6,472.00	 	5768	 	15681	 	3/21/2005	 	12032	 	14,174.72
		 		 	FURN	 	FireKing lateral file cabinet	 	2	 	714870 & 715038	 	1,500.00	 	3,000.00	 	$	3,000.00	 	$	9,472.00	 	5768	 	15710	 	3/31/2005	 	12032	 	14,174.72
		 		 	FURN	 	FireKing lateral file cabinet	 	1	 	746071	 	2,336.00	 	2,336.00	 	$	2,336.00	 	$	11,808.00	 	6570	 	16050	 	6/28/2005	 	12835	 	3,134.52
	25	 	Bioscience Int’l	 	LAB	 	SAS Super 180 Air Sampler	 	1	 	05-C-03584	 	4,300.00	 	4,300.00	 	$	4,300.00	 	$	4,300.00	 	6462	 	05 5669	 	6/30/2005	 	12971	 	4,344.00
	26	 	Tecan	 	LAB	 	Tecan EVO 2M Robot	 	1	 	504000008	 	131,857.88	 	131,857.88	 	$	131,857.88	 	$	131,857.88	 	5998	 	140013919	 	6/27/2005	 	13046	 	148,881.69
	27	 	Advanced Thermal	 	LAB	 	8-Channel Air Flow System	 	1	 	NA	 	1,924.00	 	1,924.00	 	$	1,924.00	 	$	1,924.00	 	6395	 	8073	 	6/15/2005	 	12958	 	5,160.06
	28	 	Bertelkamp	 	LAB	 	Lightstack. Individual parts to construct a light system for automation plant growth.	 	1	 	NA	 	7,686.00	 	7,686.00	 	$	7,686.00	 	$	7,686.00	 	6025	 	531013-001,
531013-002	 	3/11/05,
3/17/05	 	12018	 	1,134.74
		 		 		 		 		 		 		 		 			 			 	6025	 	531013-003	 	3/30/2005	 	12185	 	7,700.55
	29	 	Aloi	 	LAB	 	Metromax Storage Cart	 	1	 	NA	 	1,115.00	 	1,115.00	 	$	1,115.00	 	$	1,115.00	 	6405	 	6650	 	5/25/2005	 	12707	 	1,388.31
	30	 	Ace Fabrication	 	LAB	 	GMP Bag Rack Holder/Hanger	 	1	 	NA	 	1,805.00	 	1,805.00	 	$	1,805.00	 	$	1,805.00	 	6285	 	117663	 	5/25/2005	 	12703	 	1,931.35
	31	 	Southern Micro	 	LAB	 	Compound Scope 80i	 	1	 	401071	 	20,951.18	 	20,951.18	 	$	20,951.18	 	$	20,951.18	 	6267	 	I-05-00641	 	5/13/2005	 	12633	 	25,820.73

																																
	 Item
	 	 Supplier
	 	 Equip
Code
	 	 Description
	 	QTY	 	 Serial #
	 	Price	 	Ext. Price	 	Invoice
Subtotal	 	Vendor
Subtotal	 	PO #	 	Invoice #	 	Inv Date	 	Ck #	 	Ck Amt
		 		 	LAB	 	Nikon SM2800 W/Camera	 	1	 	150269	 	4,727.26	 	 	4,727.26	 	$	4,727.26	 	$	25,678.44	 	6267	 	I-05-00641	 	5/13/2005	 	12633	 	25,820.73
	32	 	Controlled Environment	 	LAB	 	Conviron Model MTPC576	 	5	 	050036, 050035, 050034, 050033, 050032	 	156,147.00	 	 	780,735.00	 	$	780,735.00	 	$	780,735.00	 	5925	 	3597 R	 	3/1/2005	 	11853	 	189,446.06
		 		 		 	Temperature controlled growth Chamber	 		 		 		 			 			 			 	5925	 	3665	 	8/17/2005	 	13528	 	211,556.06
		 		 		 		 		 		 		 			 			 			 	5925	 	3651	 	6/30/2005	 	12979	 	380,492.13
		 		 		 	TOTAL	 		 		 		 	$	3,588,930.15	 	$	3,588,930.15	 	$	3,588,930.15	 		 		 		 		 	

 Explanation: 
 This
table has formulas and should calculate totals independently. 
  

							
	 EQUIP CODE
	  	 TOTAL
 CATEGORY
AMT
	  	 % OF
 TOTAL
	 
	 COMP
	  	$	156,542.49	  	4.4	%
	 FURN
	  	$	11,808.00	  	0.3	%
	 LAB
	  	$	1,866,808.62	  	52.0	%
	 MANUF
	  	$	—  	  	0.0	%
	 OFC
	  	$	5,775.73	  	0.2	%
	 OTHER
	  	$	—  	  	0.0	%
	 SOFT
	  	$	1,547,995.31	  	43.1	%
	 TEL
	  	$	—  	  	0.0	%
	 TEST
	  	$	—  	  	0.0	%
	 TI
	  	$	—  	  	0.0	%
	 Grand Total
	  	$	3,588,930.15	  	100.00	%

  

			
	 BIOLEX, INC.

		
	 BY:
	 	  

	 TITLE:
	 	  

 All property listed above, together with any and all attachments, accessions, additions, replacements,
improvements, modifications and substitutions thereto and therefor and a right to use license for any software related to any of the foregoing now or hereafter acquired and all proceeds, in the form of goods, accounts, chattel paper, documents,
instruments and insurance proceeds. 

 COLLATERAL SCHEDULE NO. 02 
 THIS COLLATERAL SCHEDULE NO. 02 is annexed to and made a part of that certain Master Security Agreement No. 5081101 dated as of September 27, 2005 (“Agreement”), between Oxford Finance
Corporation, together with its successors and assigns, if any, as Secured Party and Biolex, Inc. as Debtor and describes collateral in which Debtor has granted Secured Party a security interest in connection with the Indebtedness (as defined in the
Security Agreement) including without limitation that certain Promissory Note dated March 15 2006, in the original principal amount of $1,037,682.25 (“Note”). 
 Debtor hereby reaffirms all of the representations, warranties, and covenants contained in the Agreement and the Note as of the date hereof and further represents and warrants to Secured Party that no default has
occurred and is continuing as of the date hereof. 
 See attached Exhibit A for list of Collateral, all of which Collateral for this Schedule
is located at the following address(es). If more than one address, Exhibit A contains a column with an indication of the location of each item: 
  

					
	 Address 1:
	 	158 Credle Street, Pittsboro NC 27312	 	
			
	 Address 2:
	 	  
	 	

  

									
	 SECURED PARTY:
  
 Oxford Finance Corporation
	 		 	 DEBTOR:
  
 Biolex, Inc.

					
	By:	 	  
	 		 	By:	 	  

					
	 Name:
	 	  
	 		 	 Name:
	 	  

					
	Title:	 	  
	 		 	Title:	 	  

					
	 Date:
	 	  
	 		 	 Date:
	 	  

 Exhibit A 
 to Equipment Schedule 02 to Master Security Agreement between Biolex and Oxford Finance 
  

					
	 	 	 	  	CK
DATE
	 Company Name:
	 	Biolex, Inc.	  	
	 Equipment Location:
	 	158 Credle Street, Pittsboro NC 27312	  	

  

																																		
	Item	 	 Supplier
	  	Equip
Code	 	 Description
	  	QTY	  	 Serial #
	  	Price	  	Ext. Price	  	Invoice
Subtotal	  	Vendor
Subtotal	  	PO #	  	Invoice #	  	Inv Date	  	Ck #	  	Ck Amt
	1	 	Advanced Thermal Solutions	  	LAB	 	32 Channel Air Flow & Temp. Measurement System	  	1	  	1284	  	$	7,487.00	  	$	7,487.00	  	$	7,487.00	  	$	7,487.00	  	7340	  	8444	  	12/21/2005	  	14838	  	 	16,367.94
															
	2	 	Amersham Biosciences	  	LAB	 	Index Column 70/500 DI/NI	  	1	  	0504/407	  	$	2,308.00	  	$	2,308.00	  	$	2,308.00	  	$	2,308.00	  	6789	  	2311516	  	7/20/2005	  	13431	  	$	8,297.75
		 		  	LAB	 	AKTA purifier 100 with control	  	1	  	01178287	  	$	48,438.00	  	$	48,438.00	  	$	48,438.00	  	$	50,746.00	  	7148	  	2362754	  	9/15/2005	  	13807	  	$	175,979.11
		 		  		 		  		  		  			  	$	—  	  	$	—  	  	$	50,746.00	  	7148	  	2374194	  	9/30/2005	  	13913	  	$	1,972.74
		 		  	LAB	 	AKTA Pilot	  	1	  	01181508	  	$	97,471.00	  	$	97,471.00	  	$	97,471.00	  	$	148,217.00	  	7149	  	2364714	  	9/19/2005	  	13807	  	$	175,979.11
		 		  	LAB	 	Akta Purifier 100 w/ Frac. Collector	  	1	  	01199594	  	$	48,648.60	  	$	48,648.60	  	$	48,648.60	  	$	196,865.60	  	7884	  	2434544	  	12/28/2005	  	14907	  	$	69,329.50
		 		  		 		  		  		  			  			  			  			  		  	2433982	  	12/27/2005	  	14841	  	 	20,343.08
															
	3	 	Analytical Spectral Dvcs	  	LAB	 	Field SpecPro VNIR Desktop Version	  	1	  	7087	  	$	16,990.00	  	$	16,990.00	  	$	16,990.00	  	$	16,990.00	  	7435	  	4712	  	10/31/2005	  	14288	  	$	19,110.00
															
	4	 	Consolidated Stills & Sterilizers	  	LAB	 	Decontamination Auto Clave SR24D	  	1	  	5902-12	  	 	36,480.00	  	$	36,480.00	  	$	36,480.00	  	$	36,480.00	  	7421	  	18133	  	1/31/2006	  	1248	  	$	36,480.00
															
	5	 	Conviron	  	LAB	 	Conviron Cart (36x52”)	  	6	  	NA	  	$	1,015.00	  	$	6,090.00	  	$	6,090.00	  	$	6,090.00	  	7272	  	SIP22379	  	11/30/2005	  	14603	  	$	6,516.30
															
	6	 	Dell	  	COMP	 	Dell Precision Workstation M70	  	1	  	BK2Z181	  	$	3,328.00	  	$	3,328.00	  	$	3,328.00	  	$	3,328.00	  	6840	  	508152255	  	8/7/2005	  	13599	  	$	4,668.88
		 		  	COMP	 	Dell Dimension 4700 Series	  	1	  	6ZMQR71	  	$	 1,067.00	  	$	 1,067.00	  	$	 1,067.00	  	$	 4,395.00	  	6602	  	47610948	  	7/6/2005	  	13531	  	$	 1,318.50

																																		
	Item	  	 Supplier
	  	 Equip
Code
	  	 Description
	  	QTY	  	 Serial #
	  	Price	  	Ext. Price	  	Invoice
Subtotal	  	Vendor
Subtotal	  	PO #	  	Invoice #	  	Inv Date	  	Ck #	  	Ck Amt
	7	  	Dwyer Instruments	  	LAB	  	Mass Flow Controller 200 LPM	  	3	  	G152872-2C; G152872-3C; G152872-1C	  	$	1,235.00	  	$	3,705.00	  	$	3,705.00	  	$	3,705.00	  	7930	  	02272966	  	1/31/2006	  	1257	  	$	8,446.74
															
	8	  	Dynamic Office Services	  	FURN	  	Fireproof File Cabinet	  	1	  	756395	  	$	2,336.00	  	$	2,336.00	  	$	2,336.00	  	$	2,336.00	  	7029	  	16385	  	9/13/2005	  	13602	  	$	2,599.52
		  		  	FURN	  	Lab Furniture for Manufacturing	  	1	  	NA	  	$	7,727.00	  	$	7,727.00	  	$	7,727.00	  	$	10,063.00	  	6320	  	16005	  	6/14/2005	  	13663	  	$	9,467.89
		  		  		  	(Grade “A” Office Workstations)	  		  		  			  			  			  			  		  		  		  		  		
		  		  	FURN	  	4-Drawer Lateral Firewall File Cabinet	  	1	  	N-774295	  	$	2,336.00	  	$	2,336.00	  	$	2,336.00	  	$	12,399.00	  	7339	  	16589	  	10/28/2005	  	14121	  	$	3,954.37
															
	9	  	Fisher Scientific	  	LAB	  	Accument Excel 20 pH Meter	  	3	  	XL94001281; XL94001341; XL94001342	  	$	1,549.37	  	$	4,648.11	  	$	4,648.11	  	$	4,648.11	  	7540	  	8419098	  	11/4/2005	  	14383	  	$	17,776.91
		  		  	LAB	  	Mettler Toledo Balance PB303	  	1	  	1126450082	  	$	1,098.16	  	$	1,098.16	  	$	1,098.16	  	$	5,746.27	  	7778	  	9140877	  	12/8/2005	  	14677	  	 	12,025.71
		  		  	LAB	  	Mettler Toledo Balance PB303	  	1	  	1126450083	  	$	1,098.16	  	$	1,098.16	  	$	1,098.16	  	$	6,844.43	  	7779	  	9140879	  	12/8/2005	  	14677	  	 	12,025.71
															
	10	  	Laboratory Environments	  	FURN	  	Lab Furniture for New QC Lab	  	1	  	NA	  	$	9,956.00	  	$	9,956.00	  	$	9,956.00	  	$	9,956.00	  	6150	  	20506-TB	  	5/16/2005	  	12452	  	$	15,608.02
		  		  		  	2 Sink base units	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Door/drawer base unit	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	4 End filler panels	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Drawer base unit	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Apron assembly	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	3 pr Legs	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	2 Island filler panels	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	2 H&CW fixture w/vacuum breaker	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	2 Hand held eye wash	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	2 Double gang, double faced pedestal electric fixture	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	134 sq ft 3/4” thick black epoxy resin tops	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	2 sink cutouts	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	5 Fixture holes	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	68 sq ft High pressure plastic laminate tops	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Stainless steel sink	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Stainless steel sink outlet	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Safety station	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Drop-in epoxy resin sink	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Sink outlet	  		  		  			  			  			  			  		  		  		  		  		

																																		
	Item	  	 Supplier
	  	 Equip
Code
	  	 Description
	  	QTY	  	 Serial #
	  	Price	  	Ext. Price	  	Invoice
Subtotal	  	Vendor
Subtotal	  	PO #	  	Invoice #	  	Inv Date	  	Ck #	  	Ck Amt
	11	  	Millipore	  	LAB	  	Glass QuikScale Column Assembly 70x550	  	1	  	Q570-0048	  	$	5,754.00	  	$	5,754.00	  	$	5,754.00	  	$	5,754.00	  	7541	  	3861666	  	11/17/2005	  	14486	  	$	9,846.65
		  		  	LAB	  	Glass QuikScale Column Assembly 100x550	  	2	  	Q5100-0087; Q5100-0088	  	$	6,556.00	  	$	13,112.00	  	$	13,112.00	  	$	18,866.00	  	7541	  	3865589	  	11/28/2005	  	14562	  	$	15,251.93
		  		  	LAB	  	GAG 70x800 7 Bar Column Assembly	  	1	  	QS70-0058	  	$	6,559.00	  	$	6,559.00	  	$	6,559.00	  	$	25,425.00	  	7541	  	3870205	  	12/2/2005	  	14635	  	 	11,072.52
															
	12	  	MiniTec	  	LAB	  	108x54” Cart w/6 Shelves	  	1	  	NA	  	$	3,440.00	  	$	3,440.00	  	$	3,440.00	  	$	3,440.00	  	7384	  	31761	  	11/17/2005	  	14487	  	$	3,817.42
															
	13	  	O’Neal	  	SOFT	  	GMP Construction	  	1	  	NA	  	$	11,265.47	  	$	11,265.47	  	$	11,265.47	  	$	11,265.47	  	NA	  	002	  	5/4/2005	  	12513	  	$	11,265.47
		  		  	SOFT	  	GMP Construction	  	1	  	NA	  	$	63,819.11	  	$	63,819.11	  	$	63,819.11	  	$	75,084.58	  	NA	  	006	  	8/3/2005	  	13420	  	$	63,819.11
		  		  	SOFT	  	GMP Construction	  	1	  	NA	  	$	277,457.45	  	$	277,457.45	  	$	277,457.45	  	$	352,542.03	  	NA	  	007	  	9/1/2005	  	13688	  	$	277,457.45
		  		  	SOFT	  	GMP Construction	  	1	  	NA	  	$	26,633.51	  	$	26,633.51	  	$	26,633.51	  	$	379,175.54	  	NA	  	008	  	9/30/2005	  	13969	  	$	26,633.51
		  		  	SOFT	  	GMP Construction	  	1	  	NA	  	$	114,544.40	  	$	114,544.40	  	$	114,544.40	  	$	493,719.94	  	NA	  	009	  	9/30/2005	  	14218	  	$	114,544.40
															
	14	  	Pall	  	LAB	  	Alpha Laval Trilobe	  	1	  	631644-01	  	$	43,323.00	  	$	43,323.00	  	$	43,323.00	  	$	43,323.00	  	6497	  	90004195	  	9/16/2005	  	13859	  	$	27,813.37
		  		  		  		  		  		  	$	43,323.00	  	$	—  	  	$	—  	  	$	43,323.00	  		  	90003608	  	6/15/2005	  	13030	  	$	18,542.24
															
	15	  	Percival Scientific	  	LAB	  	Biological Incubator Model I-36LL	  	2	  	7760.01.05H; 7760.02.05H	  	$	9,855.00	  	$	19,710.00	  	$	19,710.00	  	$	19,710.00	  	6268A	  	42422	  	8/31/2005	  	13690	  	$	20,567.23

																																		
	Item	  	 Supplier
	  	 Equip
Code
	  	 Description
	  	QTY	  	 Serial #
	  	Price	  	Ext. Price	  	Invoice
Subtotal	  	Vendor
Subtotal	  	PO
#	  	Invoice #	  	Inv Date	  	Ck #	  	Ck Amt
	16	  	Powervar	  	LAB	  	UPS Model ABCDEF5200 for Q-TOF	  	1	  	050605912	  	$	 6,775.00	  	$	 6,775.00	  	$	 6,775.00	  	$	 6,775.00	  	6903	  	132472	  	8/11/2005	  	13467	  	$	 7,355.89
															
	17	  	Price’s Scientific Svcs	  	LAB	  	Harris Platinum 32 Cu. Ft. -86 Freezer	  	1	  	PSSI32V85BCU (2060-274742-20)	  	$	7,500.00	  	$	7,500.00	  	$	7,500.00	  	$	7,500.00	  	7177	  	013967	  	9/29/2005	  	13879	  	$	8,185.50
															
	18	  	Sanyo	  	LAB	  	Bio-Medical (-30 deg C) Freezer	  	1	  	51190300	  	$	5,086.00	  	$	5,086.00	  	$	5,086.00	  	$	5,086.00	  	8053	  	90202797	  	1/30/2006	  	1303	  	$	52,260.47
		  		  	LAB	  	Ultra-Low Temp. (-86 deg C) Freezer	  	1	  	51014229	  	$	8,330.00	  	$	8,330.00	  	$	8,330.00	  	$	13,416.00	  	8053	  	90202798	  	1/30/2006	  	1303	  	$	52,260.47
		  		  	LAB	  	Ultra-Low (-86 deg C) Freezer	  	4	  	51014530; 51014210; 51014207; 51014247	  	$	8,330.00	  	$	33,320.00	  	$	33,320.00	  	$	46,736.00	  	8066	  	90203333	  	2/1/2006	  	1303	  	$	52,260.47
															
	19	  	SEM	  	LAB	  	Disintegrator System Model 584 (Reconditioned)	  	1	  	NA	  	$	15,950.00	  	$	15,950.00	  	$	15,950.00	  	$	15,950.00	  	6714	  	49474	  	7/29/2005	  	13370	  	$	18,947.40
															
	20	  	Silverson Machines, Inc.	  	LAB	  	High Sheer Lab Mixer, Model L4RT-A	  	1	  	NA	  	$	3,270.00	  	$	3,270.00	  	$	3,270.00	  	$	3,270.00	  	7227	  	39341	  	9/27/2005	  	13984	  	$	3,360.00
		  		  	LAB	  	L4RT Lab Mixer	  	1	  	16081	  	$	3,270.00	  	$	3,270.00	  	$	3,270.00	  	$	6,540.00	  	7432	  	39573	  	10/25/2005	  	14227	  	$	6,929.00
		  		  	LAB	  	L4RT Lab Mixer	  	1	  	16087	  	$	3,270.00	  	$	3,270.00	  	$	3,270.00	  	$	9,810.00	  	7433	  	39574	  	10/25/2005	  	14227	  	$	6,929.00
															
	21	  	Sytec	  	COMP	  	Proliant ML 370 Server	  	1	  	USE 544N158	  	$	2,047.60	  	$	2,047.60	  	$	2,047.60	  	$	2,047.60	  	NA	  	123595	  	11/8/2005	  	14231	  	$	31,380.24
		  		  	COMP	  	Proliant ML 350 Server	  	1	  	USM54004T9	  	$	2,286.74	  	$	2,286.74	  	$	2,286.74	  	$	4,334.34	  	NA	  	123595	  	11/8/2005	  	14231	  	$	31,380.24
		  		  	COMP	  	HP/Veritas Tape Backup	  	1	  	HUL5H06059	  	$	3,469.17	  	$	3,469.17	  	$	3,469.17	  	$	7,803.51	  	NA	  	123595	  	11/8/2005	  	14231	  	$	31,380.24
		  		  	COMP	  	Cisco Router	  	1	  	FOC0941U0VQ	  	$	6,589.34	  	$	6,589.34	  	$	6,589.34	  	$	14,392.85	  	NA	  	123595	  	11/8/2005	  	14231	  	$	31,380.24
		  		  	COMP	  	Liebert UPStation	  	1	  	0524400370AF071	  	$	1,043.32	  	$	1,043.32	  	$	1,043.32	  	$	15,436.17	  	NA	  	123595	  	11/8/2005	  	14231	  	$	31,380.24
		  		  	COMP	  	Liebert UPStation	  	1	  	0524400367AF071	  	$	1,043.32	  	$	1,043.32	  	$	1,043.32	  	$	16,479.49	  	NA	  	123595	  	11/8/2005	  	14231	  	$	31,380.24
		  		  	COMP	  	Liebert UPStation GXT2 1500VA	  	1	  	052790013TAF051	  	$	778.89	  	$	778.89	  	$	778.89	  	$	17,258.38	  	NA	  	123595	  	11/8/2005	  	14231	  	$	31,380.24
		  		  	COMP	  	OPEN MS Exchange Server	  	1	  	NA	  	$	 691.03	  	$	 691.03	  	$	 691.03	  	$	17,949.41	  	NA	  	123595	  	11/8/2005	  	14231	  	$	31,380.24
		  		  	COMP	  	Cisco Router	  	1	  	FOC0941U0CQ	  	$	1,808.64	  	$	1,808.64	  	$	1,808.64	  	$	19,758.05	  	NA	  	123622	  	11/11/2005	  	14506	  	$	5,442.22

																																		
	Item	  	 Supplier
	  	 Equip
Code
	  	 Description
	  	QTY	  	 Serial #
	  	Price	  	Ext. Price	  	Invoice
Subtotal	  	Vendor
Subtotal	  	PO #	  	Invoice #	  	Inv Date	  	Ck #	  	Ck Amt
	22	  	Triangle Process Equipment	  	LAB	  	110 Gallon tank	  	1	  	NA	  	$	1,986.00	  	$	1,986.00	  	$	1,986.00	  	$	1,986.00	  	7929	  	2006
12077	  	2/2/2006	  	1401	  	$	3,227.46
															
	23	  	Trimech Solutions	  	COMP	  	Solidworks 2005 Office Professional for Craig Greiner	  	1	  	NA	  	$	5,490.00	  	$	5,490.00	  	$	5,490.00	  	$	5,490.00	  	7047	  	105701	  	8/31/2005	  	13703	  	$	7,556.63
															
	24	  	VWR	  	FURN	  	Lab Furniture for New QC Lab	  	1	  	NA	  	$	3,181.25	  	$	3,181.25	  	$	3,181.25	  	$	3,181.25	  	6908	  	23587734;
23748231;
23814223	  	8/25/05;
9/9/05;
9/15/05	  	13644	  	$	13,062.52
		  		  		  		  		  		  			  	$	—  	  	$	—  	  	$	3,181.25	  		  		  		  	13994	  	$	7,688.36
		  		  		  	2 Hood wall/VWR wall unit, SLD 36x30x12 3/4”	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	5 Desk wall/VWR wall unit, SLD 36x30x12 3/4	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Hood wall/VWR wall unit, SLD 48x30x12 3/4	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Hood wall/30Hx24Wx39T	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Hood wall/S.S drip trough	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Island/29”Dx60”WxBlack epoxy resin top	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 Island/30Hx60W starter workbench w/cstr	  		  		  			  			  			  			  		  		  		  		  		
		  		  	FURN	  	Lab Furniture for Automation Lab	  	1	  	NA	  	$	5,004.89	  	$	5,004.89	  	$	5,004.89	  	$	8,186.14	  	6972	  	23644482	  	8/30/2005	  	13644	  	$	13,062.52
		  		  		  	8 AU rails	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 VWR base unit, 2 door 48x22x36	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 VWR base unit, 1dr/dwr 18x22x36	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	2 VWR base unit, 1dr/dwr 18x22x36	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	7 VWR base unit, 2dr/dwr 30x22x36	  		  		  			  			  			  			  		  		  		  		  		
		  		  	LAB	  	Handheld Air Particle Counter	  	1	  	050827006	  	$	2,732.13	  	$	2,732.13	  	$	2,732.13	  	$	10,918.27	  	6944	  	23636077	  	8/30/2005	  	13644	  	$	13,062.52

																																		
	Item	  	 Supplier
	  	 Equip
Code
	  	 Description
	  	QTY	  	 Serial #
	  	Price	  	Ext. Price	  	Invoice
Subtotal	  	Vendor
Subtotal	  	PO#	  	Invoice #	  	Inv Date	  	Ck #	  	Ck Amt
		  		  	FURN	  	Lab Furniture for GLP Lab	  	1	  	NA	  	$	8,498.52	  	$	 8,498.52	  	$	 8,498.52	  	$	 19,416.79	  	6658	  	23274869;
23274860;
23274867;
23356078;
23388908	  	7/29/05;
7/29/05;
7/29/05;
8/5/05;
8/9/05	  	13574	  	$	11,483.58
		  		  		  	1 AU rails 4x24	  		  		  			  	$	—  	  	$	—  	  	$	19,416.79	  		  		  		  	13877	  	$	7,291.29
		  		  		  	3 AU rails 4x30	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	5 VWR base unit, 1dr/dwr 18x22x36	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	7 VWR base unit, 2dr/dwr 30x22x36	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 VWR base unit, 2dr 60x22x36	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	3 VWR filler panels, ACC	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 1” thick chemical resistant worktops w/4” back curb	  		  		  			  			  			  			  		  		  		  		  		
		  		  		  	1 20x16x12 bowl	  		  		  			  			  			  			  		  		  		  		  		
		  		  	LAB	  	Refrigerated Bechtop Shaker	  	1	  	141205099969	  	$	4,663.44	  	$	4,663.44	  	$	4,663.44	  	$	24,080.23	  	7084	  	24150581	  	10/14/2005	  	14171	  	$	12,548.68
															
	25	  	Wahl Instruments	  	LAB	  	High Accuracy Thermal Imager	  	1	  	0002579	  	$	5,299.00	  	$	5,299.00	  	$	5,299.00	  	$	5,299.00	  	7434	  	WI18771	  	12/9/2005	  	14724	  	 	6,310.27
															
	26	  	Wintech	  	COMP	  	IBM T43 Thinkpad	  	1	  	L3-AENW2	  	$	2,494.00	  	$	2,494.00	  	$	2,494.00	  	$	2,494.00	  	NA	  	45926	  	9/19/2005	  	13801	  	$	5,380.91
		  		  	COMP	  	IBM T43 Thinkpad	  	1	  	VDT3B-34DDX-C4CRX-9YGB4-R2R86	  	$	2,494.00	  	$	2,494.00	  	$	2,494.00	  	$	4,988.00	  	NA	  	46247	  	10/25/2005	  	14098	  	$	3,573.80
		  		  	COMP	  	IBM T42 Thinkpad	  	1	  	00045-590-228-541	  	$	2,480.00	  	$	2,480.00	  	$	2,480.00	  	$	7,468.00	  	NA	  	46650	  	12/12/2005	  	14584	  	$	2,699.61
															
		  		  		  	TOTAL	  		  		  			  	$	1,037,682.25	  	$	1,037,682.25	  	$	1,037,682.25	  		  		  		  		  		

  

 49 

 Explanation: 
 This table has
formulas and should calculate totals independently. 
  

							
	 EQUIP CODE
	  	TOTAL
CATEGORY
AMT	  	% OF
TOTAL	 
	 COMP
	  	$	37,111.05	  	3.6	%
	 FURN
	  	$	39,039.66	  	3.8	%
	 LAB
	  	$	467,811.60	  	45.1	%
	 MANUF
	  	$	—  	  	0.0	%
	 OFC
	  	$	—  	  	0.0	%
	 OTHER
	  	$	—  	  	0.0	%
	 SOFT
	  	$	493,719.94	  	47.6	%
	 TEL
	  	$	—  	  	0.0	%
	 TEST
	  	$	—  	  	0.0	%
	 TI
	  	$	—  	  	0.0	%
	 Grand Total
	  	$	1,037,682.25	  	100.00	%

  

			
	BIOLEX, INC.
		
	BY:	 	  

	TITLE:	 	  

 All property listed above, together with any and all attachments, accessions, additions, replacements,
improvements, modifications and substitutions thereto and therefor and a right to use license for any software related to any of the foregoing now or he 

 COLLATERAL SCHEDULE NO. 03 
 THIS COLLATERAL SCHEDULE NO. 03 is annexed to and made a part of that certain Master Security Agreement No. 5081101 dated as of September 21, 2005 (“Agreement”), between Oxford Finance
Corporation, together with its successors and assigns, if any, as Secured Party and Biolex, Inc. as Debtor and describes collateral in which Debtor has granted Secured Party a security interest in connection with the Indebtedness (as defined in the
Security Agreement) including without limitation that certain Promissory Note dated June 9 2006, in the original principal amount of $373,527.47 (“Note”). 
 Debtor hereby reaffirms all of the representations, warranties, and covenants contained in the Agreement and the Note as of the date hereof and further represents and warrants to Secured Party that no default has
occurred and is continuing as of the date hereof. 
 See attached Exhibit A for list of Collateral, all of which Collateral for this Schedule
is located at the following address(es). If more than one address, Exhibit A contains a column with an indication of the location of each item: 
  

			
	Address 1:	 	158 Credle Street, Pittsboro NC 27312
		
	Address 2:	 	Not applicable

  

									
	 SECURED PARTY:
  
 Oxford Finance Corporation
	 		 	 DEBTOR:
  
 Biolex, Inc.

					
	By:	 	  
	 		 	By:	 	  

					
	 Name:
	 	  
	 		 	 Name:
	 	  

					
	Title:	 	  
	 		 	Title:	 	  

					
	 Date:
	 	  
	 		 	 Date:
	 	  

 Exhibit A 
 to Collateral Schedule 3 to Master Security Agreement #5081101 between Biolex and Oxford Finance Corporation 
  

					
	Company Name:	 	Biolex, Inc.	 	 
			
	Equipment Location 1:	 	Biolex, Inc., 158 Credle Street, Pittsboro, NC 27312	 	1
			
	Equipment Location 2:	 		 	2

  

																																			
	Item #	  	 Supplier
	  	Loc
Code	  	Equip
Code	  	 Description
	  	 Item Details
	  	QTY	  	Serial #	  	Price	  	Ext. Price	  	 Invoice
 Subtotal
	  	 Vendor
 Subtotal
	  	PO #	  	Invoice #	  	Inv Date	  	Ck #	  	Ck Amt
	1-a	  	Amersham	  	1	  	LAB	  	AKTA Prime plus Excl Rec	  	in Bioanalytical	  	1	  	1197655	  	11,958.00	  	11,958.00	  	$	11,958.00	  	$	11,958.00	  	7884	  	2434544	  	12/28/05	  	14907	  	69,329.50
		  	BioRadv	  		  		  	ChemiDoc	  		  		  		  	30,459.60	  	30,459.60	  	$	30,459.60	  			  		  		  		  		  	
	2-a	  		  	1	  	LAB	  		  	in QC	  	1	  	536046	  		  		  			  			  	8426	  	SLI10419425,
SLI10401128	  	3/29/06, 3/6/06	  	1865	  	45,364.94
	2-b	  		  	1	  	LAB	  	iCycler Themo Cycler	  	in QC	  	1	  	582BR016041	  	7,191.00	  	7,191.00	  	$	7,191.00	  			  		  		  		  		  	
	2-c	  		  	1	  	LAB	  	Versa Fluor Fluorometer	  	in QC	  	1	  	435BR1481	  	4,077.00	  	4,077.00	  	$	4,077.00	  	$	41,727.60	  		  		  		  		  	
	3-a	  	Cole-Parmer	  	1	  	LAB	  	Modular Digital Dispensing Pump & Footswitch	  	in Bioprocessing	  	1	  	B06000131	  	2,520.00	  	2,520.00	  	$	2,520.00	  			  	8596	  	5980739	  	03/20/06	  	1799	  	7,228.64
	3-b	  		  	1	  	LAB	  	Modular Digital Dispensing Pump & Footswitch	  	in Bioprocessing	  	1	  	M05006838	  	2,520.00	  	2,520.00	  	$	2,520.00	  	$	5,040.00	  	8596	  	5980739	  	03/20/06	  	1799	  	7,228.64
	4-a	  	Consolidated Stills & Sterilizers	  	1	  	LAB	  	Sterilizer (Autoclave) Model SR-24A	  	in Tissue Culture	  	1	  	042706	  	30,380.00	  	30,380.00	  	$	30,380.00	  	$	30,380.00	  	8243	  	18606	  	04/28/06	  	2295	  	30,380.00
	5-a	  	Fisher	  	1	  	LAB	  	Milli-Q System	  	in QC	  	1	  	F5SN03662A	  	8,453.96	  	8,453.96	  	$	8,453.96	  	$	8,453.96	  	8664	  	1759310	  	03/31/06	  	1891	  	9,847.41
	6-a	  	GE Healthcare	  	1	  	LAB	  	AKTA Purifier 100 w/Control	  	in Proc. Dev.	  	1	  	1219536	  	53,728.00	  	53,728.00	  	$	53,728.00	  			  	8872	  	2537031	  	04/21/06	  	2216	  	129,975.12
	6-b	  		  	1	  	LAB	  	AKTA Purifier 100 w/Control	  	in Proc. Dev.	  	1	  	1219534	  	53,728.00	  	53,728.00	  	$	53,728.00	  			  	8872	  	2537031	  	04/21/06	  	2216	  	129,975.12
	6-c	  		  	1	  	LAB	  	AKTA Prime	  	in Proc. Dev.	  	1	  	1216615	  	11,481.60	  	11,481.60	  	$	11,481.60	  	$	118,937.60	  	8872	  	2537031	  	04/21/06	  	2216	  	129,975.12

																																				
	Item #	  	 Supplier
	  	Loc
Code	  	 Equip
Code
	  	 Description
	  	 Item Details
	  	QTY	  	Serial #	  	Price	  	Ext. Price	  	 Invoice
 Subtotal
	  	 Vendor
 Subtotal
	  	PO #	  	Invoice #	  	Inv Date	  	Ck #	  	Ck Amt
	7-a	  	GE Infrastructure Sensing	  	1	  	LAB	  	Kaye Validator 2000	  	in Engineering	  	1	  	0602034	  	14,135.00	  	 	14,135.00	  	$	14,135.00	  			  	8461	  	4095240	  	03/03/06	  	1684	  	28,296.68
	7-b	  		  	1	  	LAB	  	IRTD 400 Standard	  	in Engineering	  	1	  	G0203	  	3,950.00	  	 	3,950.00	  	$	3,950.00	  	$	18,085.00	  	8461	  	4095240	  	03/03/06	  	1684	  	28,296.68
	8-a	  	ISC BioExpress	  	1	  	LAB	  	Problot 12 Hybridization Oven	  	in QC	  	1	  	11014705	  	1,675.00	  	 	1,675.00	  	$	1,675.00	  	$	1,675.00	  	8429	  	444378	  	03/16/06	  	1817	  	1,953.02
	9-a	  	Millipore	  	1	  	LAB	  	Labscale TFF System	  	in Bioanalytical	  	1	  	PSPN8322025	  	4,523.00	  	 	4,523.00	  	$	4,523.00	  	$	4,523.00	  	8364	  	3959412	  	04/27/06	  	2337	  	8,100.38
	10-a	  	Percival Scientific	  	1	  	LAB	  	Percival Biological Incubator Model I-36LL	  	in Tissue Culture	  	1	  	8454,01.06D	  	10,250.00	  	 	10,250.00	  	$	10,250.00	  			  	8197	  	43291	  	04/21/06	  	2239	  	20,918.52
	10-b	  		  	1	  	LAB	  	Percival Biological Incubator Model I-36LL	  	in Tissue Culture	  	1	  	8454,02.06D	  	10,250.00	  	 	10,250.00	  	$	10,250.00	  	$	20,500.00	  	8197	  	43291	  	04/21/06	  	2239	  	20,918.52
	11-a	  	Perkin Elmer	  	1	  	LAB	  	Lambda 25 UV Specttrophotometer	  	in QC	  	1	  	101N6042102	  	12,020.00	  	 	12,020.00	  	$	12,020.00	  	$	12,020.00	  	8964	  	5301153041	  	05/16/06	  	2340	  	13,646.66
	12-a	  	Robert Brown Associates	  	1	  	LAB	  	Fristam Pump & Controller	  	in Automation	  	1	  	F0601142828	  	15,271.00	  	 	15,271.00	  	$	15,271.00	  	$	15,271.00	  	8193	  	6345	  	03/24/06	  	1932	  	15,337.77
	13-a	  	Sanyo	  	1	  	LAB	  	Ultra-Low (-86 deg C) Upright Freezer	  	in Bioanalytical	  	1	  	51116226	  	8,330.00	  	 	8,330.00	  	$	8,330.00	  			  	8313	  	90207886	  	02/27/06	  	1643	  	27,859.29
	13-b	  		  	1	  	LAB	  	Ultra-Low (-86 deg C) Upright Freezer	  	in Bioanalytical	  	1	  	51116172	  	8,330.00	  	 	8,330.00	  	$	8,330.00	  			  	8313	  	90207886	  	02/27/06	  	1643	  	27,859.29
	13-c	  		  	1	  	LAB	  	Ultra-Low (-86 deg C) Upright Freezer	  	in Bioanalytical	  	1	  	51116173	  	8,330.00	  	 	8,330.00	  	$	8,330.00	  	$	24,990.00	  	8313	  	90207886	  	02/27/06	  	1643	  	27,859.29
	14-a	  	Tecan	  	1	  	LAB	  	Infinite M200 Microplate Reader	  	in Automation	  	1	  	602000003	  	19,538.00	  	 	19,538.00	  	$	19,538.00	  			  	7962	  	140023512,
140023733	  	2/10/06,
2/16/06	  	1553	  	21,098.25
	14-b	  		  	1	  	LAB	  	Columbus PRO Strip Washer	  	in Bioanalytical	  	1	  	603000008	  	5,326.50	  	 	5,326.50	  	$	5,326.50	  			  	8468	  	140024998	  	03/16/06	  	1841	  	11,719.72
	14-c	  		  	1	  	LAB	  	Columbus PRO Strip Washer	  	in Bioanalytical	  	1	  	603000009	  	5,326.50	  	 	5,326.50	  	$	5,326.50	  	$	30,191.00	  	8468	  	140024998	  	03/16/06	  	1841	  	11,719.72
	15-a	  	VWR	  	1	  	LAB	  	Tabletop Centrifuge Allegra X-15R	  	in Bioanalytical	  	1	  	ALP06A29	  	8,199.00	  	 	8,199.00	  	$	8,199.00	  			  	8242	  	25409734	  	02/14/06	  	1565	  	12,918.21
	15-b	  		  	1	  	LAB	  	Horizontal Laminar Flow Hood w/Table 6ft	  	in Plant Biology	  	1	  	2060200012	  	5,869.33	  	 	5,869.33	  	$	5,869.33	  			  	7975	  	25451234	  	02/17/06	  	1560	  	12,922.33
	15-c	  		  	1	  	LAB	  	Microfuge 22R	  	in Bioanalytical	  	1	  	MHB05M035	  	4,440.95	  	 	4,440.95	  	$	4,440.95	  			  	8509	  	25786681	  	03/17/06	  	1852	  	22,839.28
	15-d	  		  	1	  	LAB	  	Osmometer	  	in Bioprocessing	  	1	  	06020139A	  	6,825.08	  	 	6,825.08	  	$	6,825.08	  			  	8632	  	25816003	  	03/21/06	  	1852	  	22,839.28
	15-e	  		  	1	  	LAB	  	Microfuge 22R	  	in Bioanalytical	  	1	  	MHB05K006	  	4,440.95	  	 	4,440.95	  	$	4,440.95	  	$	29,775.31	  	8509	  	25786680	  	03/17/06	  	1852	  	22,839.28
																	
		  		  		  		  	TOTAL	  		  		  		  		  	$	373,527.47	  	$	373,527.47	  	$	373,527.47	  		  		  		  		  	

 Explanation: 
 This table has
formulas and should calculate totals independently. 
  

							
	 EQUIP CODE
	  	 TOTAL
 CATEGORY
 AMT
	  	 % OF
 TOTAL
	 
	  	  
	COMP	  	$	—  	  	0.0	%
	FURN	  	$	—  	  	0.0	%
	LAB	  	$	373,527.47	  	100.0	%
	MANUF	  	$	—  	  	0.0	%
	OFC	  	$	—  	  	0.0	%
	OTHER	  	$	—  	  	0.0	%
	SOFT	  	$	—  	  	0.0	%
	TEL	  	$	—  	  	0.0	%
	TEST	  	$	—  	  	0.0	%
	TI	  	$	—  	  	0.0	%
	Grand Total	  	$	373,527.47	  	100.0	%

  

							
	 Biolex Inc.

		
	By:	 	  

	Title:	 	  

 All property listed above, together with any and all attachments, accessions, additions, replacements,
improvements, modifications and substitutions thereto and therefor and a right to use license for any software related to any of the foregoing now or hereafter acquired and all proceeds, in the form of goods, accounts, chattel paper, documents,
instruments and insurance proceeds. 
 Equipment Code List 
  

					
			
	COMP	  	=	  	Computer Hardware
			
	FURN	  	=	  	Furniture
			
	LAB	  	=	  	Lab Equipment
			
	MANUF	  	=	  	Manufacturing
			
	OFC	  	=	  	Office Equipment
			
	OTHER	  	=	  	Other than listed above
			
	SOFT	  	=	  	Computer Software, Tax, Freight
			
	TEL	  	=	  	Telephone
			
	TEST	  	=	  	Electronic Test Equipment
			
	TI	  	=	  	Tenant ImprovementsLease Agreement

 Exhibit 10.3 
 LEASE AGREEMENT 
 THIS LEASE AGREEMENT (this
“Lease”) is made this 22nd day of December, 2005, between ARE-7030 KIT CREEK, LLC, a Delaware limited liability company (“Landlord”), and BIOLEX, INC., a Delaware corporation
(“Tenant”). 
  

			
	Address:	  	7010 Kit Creek Road, Research Triangle Park, North Carolina
		
	Premises:	  	The Building (as defined below) containing approximately 48,236 rentable square feet.
		
	Building:	  	The specific building in the Project located at 7010 Kit Creek Road, Research Triangle Park, North Carolina, as shown on Exhibit A.
		
	Project:	  	The real property on which the Building is located, together with all improvements thereon and appurtenances thereto as described on Exhibit B.
		
	Base Rent:	  	$15.75 per rentable sq. ft. per year, subject to adjustments as provided for in Section 4 hereof.
	
	Rentable Area of Premises: 48,236 rentable sq. ft.
	
	Rentable Area of Building: 48,236 rentable sq. ft.
	
	Rentable Area of Project: 133,634 rentable sq. ft.
	
	Tenant’s Share of Operating Expenses of the Building: 100%
	
	Building Share of Project: 36.09%
	
	Security Deposit: 6 Month’s initial Base Rent, subject to increases as Base Rent is adjusted pursuant to Section 4(a) hereof.
	
	Rent Adjustment Percentage: Greater of 3% or the CPI Adjustment Percentage (as hereinafter defined) not to exceed 5%
		
	Base Term:	  	Beginning on the Commencement Date and ending 120 months from the first day of the first full month following the Rent Commencement Date.
		
	Permitted Use:	  	Research and development laboratory, pharmaceutical manufacturing, related office and other related uses consistent with the character of the Project and otherwise in compliance with the
provisions of Section 7 hereof.

  

			
	 Address for Rent Payment:
	 	Landlord’s Notice Address:
	 385 E. Colorado Boulevard, Suite 299
 Pasadena, CA 91101

 Attention: Accounts Receivable
	 	 385 E. Colorado Boulevard, Suite 299
 Pasadena, CA
91101
 Attention: Corporate Secretary

		
	 Tenant’s Notice Address:
	 	
	 158 Credle Street
 Pittsboro, NC 27312
 Attention: Chief Financial Officer
	 	

 

 

			
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	 with a copy to:
	 	
		
	 Smith, Anderson, Blount, Dorsett Mitchell & Jernigan, L.L.P.
 2500 Wachovia Capitol Center
 Raleigh, NC 27601
 Attention: Michael P. Saber, Esq.
	 	

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

			
	 x EXHIBIT A - PREMISES DESCRIPTION
	 	x EXHIBIT B - DESCRIPTION OF PROJECT
	 x EXHIBIT C - WORK LETTER
	 	x EXHIBIT D - COMMENCEMENT DATE
	 x EXHIBIT E - RULES AND REGULATIONS
	 	x EXHIBIT F - TENANT’S PERSONAL PROPERTY
	 x EXHIBIT G - LIST OF REPORTS
	 	

 1. Lease of Premises. Upon and subject to all of the terms and conditions hereof, Landlord
hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. The portions of the Project which are for the non-exclusive use of tenants of the Project are collectively referred to herein as the “Common
Areas.” Landlord reserves the right to modify Common Areas, provided that such modifications do not materially adversely affect Tenant’s use of the Premises for the Permitted Use. 
 2. Delivery; Acceptance of Premises; Commencement Date. The “Commencement Date” of this Lease shall be the date of the full
execution and delivery of this Lease and the Premises shall be delivered to Tenant on such date. The “Rent Commencement Date” shall be 12 months after the Commencement Date. Upon request of either party, the parties shall execute
and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Base Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease
as Exhibit D; provided, however, that Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as
defined above on the first page of this Lease, and any Extension Terms which Tenant may elect pursuant to Section 40 hereof. 
 Except as expressly set forth in this Lease, Tenant shall accept the Premises in their condition as of the Commencement Date and Landlord shall have no obligation for any defects in the Premises. Tenant’s taking possession of the
Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Tenant shall be entitled to receive the benefit of all construction warranties and
manufacturer’s equipment warranties relating to the Premises. Tenant shall not be responsible for correcting defects in the original construction of the Building. For the period of 90 consecutive days after the Commencement Date, Landlord
shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Section 14), unless Tenant was
responsible for the cause of such repair, in which case Tenant shall pay the cost. 
 Landlord shall, at its sole cost and expense, install a
roll up door on the northwest side of the Building (in an area mutually acceptable to Landlord and Tenant) in order to provide access to the loading dock. Tenant acknowledges that the installation of the roll up door shall take place at the same
time the Tenant Improvements are being constructed and may adversely impact the construction of the Tenant Improvements and Tenant’s use and enjoyment of the Premises. Tenant agrees to cooperate with Landlord and to permit Landlord and its
contractors to enter the Premises so that the roll up door may be installed. 
 Tenant agrees and acknowledges that neither Landlord nor any
agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant
waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. 
  
 

 

			
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 This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and
supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties,
acknowledgments and agreements contained herein. 
 3. Rent. 
 (a) Base Rent. The first month’s Base Rent and the Security Deposit shall be due and payable on delivery of an executed copy of this Lease to
Landlord. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, equal monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof after the Rent Commencement Date, in
lawful money of the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments of Base Rent for any
fractional calendar month shall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to abate, reduce,
or set-off any Rent (as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease. 
 (b) Additional Rent. In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”): (i) Tenant’s Share of “Operating Expenses” (as defined in
Section 5), and (ii) any and all other amounts Tenant assumes or agrees to pay under the provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or
failure to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant, after any applicable notice and cure period. 
 4. Base Rent Adjustments. 
 (a) Tenant Improvement Allowance. Landlord shall, subject to the
terms of the Work Letter, provide to Tenant a tenant improvement allowance (“TI Allowance”) for the construction of Tenant Improvements (as defined in the Work Letter) in the Premises up to $110.00 per rentable square foot of the
Premises, plus 75% of the cost of the Tenant Improvements (in excess of the $110.00 per rentable square foot of the Premises) up to a maximum of $185.00 per rentable square foot of the Premises. For each of the following incremental levels of the TI
Allowance disbursed by Landlord, Base Rent shall increase by the amount set forth on the schedule below for such incremental increase in annual Base Rent per Dollar of TI Allowance disbursed: 
  

				
	 Aggregate TI Allowance
 Disbursed
by Landlord
 per rentable square foot
	  	 Incremental Increase in annual
Base Rent
per Dollar of TI
Allowance Disbursed
 per rentable square foot

	 $0.00 - $40.00
	  	$	0.00
	 $40.01 - $70.00
	  	$	0.1520
	 $70.01 - $110.00
	  	$	0.1585
	 $110.01 - $185.00
	  	$	0.2224

 For example, if the entire TI Allowance was disbursed by Landlord, the initial annual Base Rent on
a per rentable square foot basis would be $43.33. 
 The TI Allowance shall be available for use by Tenant for Tenant Improvements for up to
3 years following the Commencement Date. Tenant Improvements shall be constructed pursuant to the Work Letter and if, upon substantial completion of any Tenant Improvements, Tenant desires to make additional Tenant Improvements the parties agree
that the Work Letter shall be used for such 
  
 

 

			
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additional Tenant Improvements except that the dates used therein shall be appropriately modified. Notwithstanding anything to the contrary contained herein,
if in the aggregate more than $20.00 per rentable square foot of the Premises is used by Tenant for additional Tenant Improvements following the Rent Commencement Date, the Base Term shall be automatically extended to expire 120 months from the
first day of the first full month during which Tenant pays Base Rent based on the full amount of the TI Allowance disbursed by Landlord. The Base Term shall not be extended as provided for in the preceding sentence if the additional Tenant
Improvements are made at Tenant’s sole cost and expense. The TI Allowance may not be used by Tenant for any tenant improvements to the Available Space (as defined in Section 39). 
 Any such adjustment to Base Rent shall be made upon Tenant’s election to use any portion of the TI Allowance (“Tenant’s Current
Election”). Upon any such election, Landlord shall promptly give Tenant notice (a “Base Rent Adjustment Notice”) setting forth: (i) the aggregate amount of TI Allowance elected to be used by Tenant after giving effect
to Tenant’s Current Election, (ii) the aggregate increase in Base Rent resulting from Tenant’s Current Election, and (iii) the monthly Base Rent payable after giving effect to Tenant’s Current Election. 
 (b) Increase Based Upon Rent Adjustment Percentage. In addition, Base Rent shall be increased on each annual anniversary of the Rent Commencement
Date during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable
immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. “CPI Adjustment Percentage” means
(i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3
months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease, less (ii) 1.00. “Index” means the “Consumer
Price Index-All Urban Consumers-Washington-Baltimore-DC-MD-VA-WV Metropolitan Area, All Items” compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made in the Index, the revised
Index shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the revised Index comparable to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most
nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice
indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation and Tenant shall pay to Landlord an amount equal to any underpayment of Base Rent by Tenant within 15 days of Landlord’s notice to Tenant. Failure to
deliver such notice shall not reduce, abate, waive or diminish Tenant’s obligation to pay the adjusted Base Rent. 
 5. Operating Expense Payments. Landlord shall deliver to Tenant a written estimate of
Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year but no more than twice in any calendar year. Commencing on the Operating
Expenses Commencement Date and on the first day of each month during the Term, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share
of the Annual Estimate. Payments for any fractional calendar month shall be prorated. As used herein, “Operating Expenses Commencement Date” shall mean the earlier to occur of (i) substantial completion of the initial Tenant
Improvements constructed pursuant to the Work Letter as evidenced by a Certificate of Substantial Completion in the form of the American Institute of Architects document G704 from the TI Architect or general contractor (“Substantial
Completion”), and (ii) the date Tenant commences conducting any business in the Premises (excluding the Temporary Premises (as defined in Section 42 hereof)). 
  
 

 

			
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 The term “Operating Expenses” means all costs and expenses of any kind or description
whatsoever incurred or accrued each calendar year by Landlord with respect to the Building (including the Building’s Share of all costs and expenses of any kind or description incurred or accrued by Landlord with respect to the Project which
are not specific to the Building or any other building located in the Project) (including, without duplication, Taxes (as defined in Section 9), reasonable reserves consistent with good business practice for future repairs and
replacements, capital repairs and improvements amortized over the lesser of 10 years and the useful life of such capital items, and the costs of Landlord’s third party property manager or, if there is no third party property manager,
administration rent in the amount of 3.0% of Base Rent), excluding only: 
 (a) the original construction costs of the Project and renovation
prior to the date of the Lease and costs of correcting defects in such original construction or renovation; 
 (b) capital expenditures for
expansion of the Project; 
 (c) interest, principal payments of Mortgage (as defined in Section 27) debts of Landlord, financing
costs and amortization of funds borrowed by Landlord, whether secured or unsecured and all payments of base rent (but not taxes or operating expenses) under any ground lease or other underlying lease of all or any portion of the Project; 

(d) depreciation of the Project (except for capital improvements, the cost of which are includable in Operating Expenses); 
 (e) advertising, legal and space planning expenses and leasing commissions and other costs and expenses incurred in procuring and leasing space to
tenants for the Project, including any leasing office maintained in the Project, free rent and construction allowances for tenants; 
 (f)
legal and other expenses incurred in the negotiation or enforcement of leases; 
 (g) completing, fixturing, improving, renovating, painting,
redecorating or other work, which Landlord pays for or performs for other tenants within their premises, and costs of correcting defects in such work; 
 (h) costs of utilities outside normal business hours sold to tenants of the Project; 
 (i) costs to be
reimbursed by other tenants of the Project or Taxes to be paid directly by Tenant or other tenants of the Project, whether or not actually paid; 
 (j) salaries, wages, benefits and other compensation paid to officers and employees of Landlord above the level of property manager or who are not assigned in whole or in part to the operation, management, maintenance or repair of the
Project; 
 (k) general organizational, administrative and overhead costs relating to maintaining Landlord’s existence, either as a
corporation, partnership, or other entity, including general corporate, legal and accounting expenses; 
 (l) costs (including
attorneys’ fees and costs of settlement, judgments and payments in lieu thereof) incurred in connection with disputes with tenants, other occupants, or prospective tenants, and costs and expenses, including legal fees, incurred in connection
with negotiations or disputes with employees, consultants, management agents, leasing agents, purchasers or mortgagees of the Building; 
 (m) costs incurred by Landlord due to the violation by Landlord, its employees, agents or contractors or any tenant of the terms and conditions of any lease of space in the Project or any Legal Requirement (as defined in
Section 7); 
  
 

 

			
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 (n) penalties, fines or interest incurred as a result of Landlord’s inability or failure to make
payment of Taxes and/or to file any tax or informational returns when due, or from Landlord’s failure to make any payment of Taxes required to be made by Landlord hereunder before delinquency; 
 (o) overhead and profit increment paid to Landlord or to subsidiaries or affiliates of Landlord for goods and/or services in or to the Project to the
extent the same exceeds the costs of such goods and/or services rendered by unaffiliated third parties on a competitive basis; 
 (p) costs
of Landlord’s charitable or political contributions, or of fine art maintained at the Project; 
 (q) costs in connection with services
(including electricity), items or other benefits of a type which are not standard for the Project and which are not available to Tenant without specific charges therefor, but which are provided to another tenant or occupant of the Project, whether
or not such other tenant or occupant is specifically charged therefor by Landlord; 
 (r) costs incurred in the sale or refinancing of the
Project; 
 (s) net income taxes of Landlord or the owner of any interest in the Project, franchise, capital stock, gift, estate or
inheritance taxes or any federal, state or local documentary taxes imposed against the Project or any portion thereof or interest therein; 
 (t) any expenses otherwise includable within Operating Expenses to the extent actually reimbursed by persons other than tenants of the Project under leases for space in the Project; 
 (u) costs of repairs and replacements to other buildings and common areas in the other buildings at the Project to the extent that the same do not
benefit Tenant or the Building; 
 (v) costs incurred in connection with environmental clean up, response action or remediation on, in or
under or about the Project, to the extent related to known conditions existing in, on or under or about the Project on or before the date hereof as disclosed by the reports listed on Exhibit G; 
 (w) greater than 5% annual increases in the management fees or employees’ salaries; provided, however, that if the full 5% is not used in any
year(s) the unused portion may be carried forward such that in future years the increases may exceed 5%; and 
 (x) greater than 7% annual
increases in landscaping costs at the Project; provided, however, that if the full 7% is not used in any year(s) the unused portion may be carried forward such that in future years the increases may exceed 7%. 
 Within 90 days after the end of each calendar year (or such longer period as may be reasonably required), Landlord shall furnish to Tenant a statement
(an “Annual Statement”) showing in reasonable detail: (a) the total and Tenant’s Share of actual Operating Expenses for the previous calendar year, and (b) the total of Tenant’s payments in respect of Operating
Expenses for such year. If Tenant’s Share of actual Operating Expenses for such year exceeds Tenant’s payments of Operating Expenses for such year, the excess shall be due and payable by Tenant as Rent within 30 days after delivery of such
Annual Statement to Tenant. If Tenant’s payments of Operating Expenses for such year exceed Tenant’s Share of actual Operating Expenses for such year Landlord shall pay the excess to Tenant within 30 days after delivery of such Annual
Statement, except that after the expiration, or earlier termination of the Term or if Tenant is delinquent in its obligation to pay Rent, Landlord shall pay the excess to Tenant after deducting all other amounts due Landlord. 
 The Annual Statement shall be final and binding upon Tenant unless Tenant, within 30 days after Tenant’s receipt thereof, shall contest any item
therein by giving written notice to Landlord, specifying each item contested and the reason therefor. If, during such 30 day period, Tenant reasonably and in good faith questions or contests the correctness of Landlord’s statement of
Tenant’s Share of 
  
 

 

			
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Operating Expenses, Landlord will provide Tenant with access to Landlord’s books and records relating to the operation of the Project and such
information as Landlord reasonably determines to be responsive to Tenant’s questions. If, after Tenant’s review of such information, Landlord and Tenant cannot agree upon the amount of Tenant’s Share of Operating Expenses, then Tenant
shall have the right to have an independent public accounting firm selected by Tenant from among the 4 largest in the United States, working pursuant to a fee arrangement other than a contingent fee (at Tenant’s sole cost and expense) and
approved by Landlord (which approval shall not be unreasonably withheld, conditioned, or delayed), audit and/or review relating to the operation of the Project for the year in question (the “Independent Review”). The results of any
such Independent Review shall be binding on Landlord and Tenant. If the Independent Review shows that Tenant’s pro rata share of the Operating Expenses actually paid by Tenant for the calendar year in question exceeded Tenant’s obligations
for such calendar year, Landlord shall, at Landlord’s option, either (i) credit the excess amount to the next succeeding installments of estimated Operating Expenses or (ii) pay the excess to Tenant within 30 days after delivery of
such statement, except that, after expiration or earlier termination of the Term, Landlord shall pay the excess to Tenant after deducting all other amounts due Landlord. If the Independent Review shows that Tenant’s payments of Tenant’s
Share of Operating Expenses for such calendar year were less than Tenant’s obligation for the calendar year, Tenant shall pay the deficiency to the Landlord within 30 days after delivery of such statement. If the Independent Review shows that
Tenant has overpaid Tenant’s pro rata share of Operating Expenses by more than 5%, then Landlord shall reimburse Tenant for all costs incurred by Tenant for the Independent Review. Operating Expenses for the calendar years in which
Tenant’s obligation to share therein begins and ends shall be prorated. Notwithstanding anything set forth herein to the contrary, if the Project is not at least 95% occupied on average during any year of the Term, Tenant’s Share of
Operating Expenses for such year shall be computed as though the Project had been 95% occupied on average during such year. 
 Landlord and
Tenant acknowledge that the Rentable Area of the Premises described on page 1 of this Lease is an estimate of the actual rentable square footage of the Premises and shall not be subject to re-measurement. Tenant’s Share and Building Share shall
be subject to further adjustment for changes in the physical size of the Building or the Project occurring thereafter. Landlord may equitably increase Tenant’s Share for any item of expense or cost reimbursable by Tenant that relates to a
repair, replacement, or service that benefits only the Premises or only a portion of the Project that includes the Premises or that varies with occupancy or use. Upon Tenant’s written request, Landlord shall provide Tenant with the information
used by Landlord as the basis for any equitable increases made pursuant to the preceding sentence. Base Rent, Tenant’s Share of Operating Expenses and all other amounts payable by Tenant to Landlord hereunder are collectively referred to herein
as “Rent.” 
 6. Security Deposit. Tenant shall deposit with Landlord, upon delivery of an executed copy of this
Lease to Landlord, a security deposit (the “Security Deposit”) for the performance of all of Tenant’s obligations hereunder in the amount set forth in the provisions on page 1 of this Lease, which Security Deposit shall be in
the form of an unconditional and irrevocable letter of credit (the “Letter of Credit”): (i) in form and substance reasonably satisfactory to Landlord, (ii) naming Landlord as beneficiary, (iii) expressly allowing
Landlord to draw upon it at any time from time to time by delivering to the issuer notice that Landlord is entitled to draw thereunder, (iv) issued by an FDIC-insured financial institution satisfactory to Landlord, and (v) redeemable by
presentation of a sight draft in the state of Landlord’s choice. Tenant acknowledges that the determination of the amount of the Security Deposit shall include any adjustments which may be made from time to time to monthly Base Rent pursuant to
Section 4(a) hereof. If Tenant does not provide Landlord with a substitute Letter of Credit complying with all of the requirements hereof at least 10 days before the stated expiration date of any then current Letter of Credit, Landlord
shall have the right to draw the full amount of the current Letter of Credit and hold the funds drawn in cash without obligation for interest thereon as the Security Deposit. The Security Deposit shall be held by Landlord as security for the
performance of Tenant’s obligations under this Lease. The Security Deposit is not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s default. Upon each occurrence of a Default (as defined in
Section 20), Landlord may use all or any part of the Security Deposit to pay delinquent payments due under this Lease, and the cost of any damage, injury, expense or liability caused by such Default, without prejudice to any other remedy
provided herein or provided 
  
 

 

			
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by law. Upon any such use of all or any portion of the Security Deposit, Tenant shall pay Landlord within 5 business days after written demand the amount
that will restore the Security Deposit to the amount set forth on Page 1 of this Lease. Tenant hereby waives the provisions of any law, now or hereafter in force, which provide that Landlord may claim from a security deposit only those sums
reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord for any other
loss or damage, foreseeable or unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant. Upon bankruptcy or other debtor-creditor proceedings against Tenant, the Security Deposit shall be deemed to
be applied first to the payment of Rent and other charges due Landlord for periods prior to the filing of such proceedings. Upon any such use of all or any portion of the Security Deposit, Tenant shall, within 5 business days after receipt of
written demand from Landlord, restore the Security Deposit to its original amount. If Tenant shall fully perform every provision of this Lease to be performed by Tenant, the Security Deposit, or any balance thereof (i.e., after deducting therefrom
all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within 90 days after the expiration or earlier
termination of this Lease. 
 If Landlord transfers its interest in the Project or this Lease, Landlord shall either (a) transfer any
Security Deposit then held by Landlord to a person or entity assuming Landlord’s obligations under this Section 6, or (b) return to Tenant any Security Deposit then held by Landlord and remaining after the deductions permitted
herein. Upon such transfer to such transferee or the return of the Security Deposit to Tenant, Landlord shall have no further obligation with respect to the Security Deposit, and Tenant’s right to the return of the Security Deposit shall apply
solely against Landlord’s transferee. The Security Deposit is not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s default. Landlord’s obligation respecting the Security Deposit is that of a
debtor, not a trustee, and no interest shall accrue thereon. 
 7. Use. The Premises shall be used solely for the Permitted Use set
forth in the basic lease provisions on page 1 of this Lease, and in compliance with all laws, orders, judgments, ordinances, regulations, codes, directives, permits, licenses, covenants and restrictions now or hereafter applicable to the Premises,
and to the use and occupancy thereof, including, without limitation, the Americans With Disabilities Act, 42 U.S.C. § 12101, et seq. (together with the regulations promulgated pursuant thereto, “ADA”) (collectively,
“Legal Requirements” and each, a “Legal Requirement”). Tenant shall, upon 5 days’ written notice from Landlord, discontinue any use of the Premises which is declared by any Governmental Authority (as defined in
Section 9) having jurisdiction to be a violation of a Legal Requirement. Tenant will not use or permit the Premises to be used for any purpose or in any manner that would void Tenant’s or Landlord’s insurance, increase the
insurance risk, or cause the disallowance of any sprinkler or other credits. Tenant shall not permit any part of the Premises to be used as a “place of public accommodation”, as defined in the ADA or any similar legal requirement. Tenant
shall reimburse Landlord promptly upon demand (and reasonable supporting documentation) for any additional premium charged for any such insurance policy by reason of Tenant’s failure to comply with the provisions of this Section or otherwise
caused by Tenant’s particular use and/or occupancy of the Premises. Tenant will use the Premises in a careful, safe and proper manner and will not commit or permit waste, overload the floor or structure of the Premises, subject the Premises to
use that would damage the Premises or obstruct or unreasonably interfere with the rights of Landlord or other tenants or occupants of the Project, including conducting or giving notice of any auction, liquidation, or going out of business sale on
the Premises, or using or allowing the Premises to be used for any unlawful purpose. Tenant shall cause any equipment or machinery to be installed in the Premises so as to reasonably prevent sounds or vibrations from the Premises from extending into
Common Areas, or other space in the Project. Tenant shall not place any machinery or equipment placing a weight greater than the structural capacity of the floor slab in or upon the Premises or transport or move such items through the Common Areas
of the Project or in the Project elevators. 
  
 

 

			
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 Landlord shall, as an Operating Expense (to the extent such Legal Requirement is generally applicable to
similar buildings in the area in which the Project is located) or at Tenant’s expense (to the extent such Legal Requirement is applicable solely by reason of Tenant’s, as compared to other tenants of the Project, particular use of the
Premises) make any alterations or modifications to the Common Areas or the exterior of the Building that are required by Legal Requirements, including the ADA. Tenant, at its sole expense, shall make any alterations or modifications to the interior
or the exterior of the Premises or the Project that are required by Legal Requirements (including, without limitation, compliance of the Premises with the ADA) related to Tenant’s particular use or occupancy of the Premises. Notwithstanding any
other provision herein to the contrary and except as set forth above, Tenant shall be responsible for any and all demands, claims, liabilities, losses, costs, expenses, actions, causes of action, damages or judgments, and all reasonable expenses
incurred in investigating or resisting the same (including, without limitation, reasonable attorneys’ fees, charges and disbursements and costs of suit) (collectively, “Claims”) arising out of or in connection with
Tenant’s failure to comply with Legal Requirements, and Tenant shall indemnify, defend, hold and save Landlord harmless from and against any and all Claims arising out of or in connection with any failure of the Premises to comply with any
Legal Requirement. Nothing contained in this Section 7 is intended to result in Tenant being responsible for correcting defects or violations of Governmental Requirements with respect to the Premises which existed prior to the
Commencement Date. 
 8. Holding Over. If, with Landlord’s express written consent, Tenant retains possession of the Premises
after the termination of the Term, (i) unless otherwise agreed in such written consent, such possession shall be subject to immediate termination by Landlord at any time, (ii) all of the other terms and provisions of this Lease (including,
without limitation, the adjustment of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect (excluding any expansion or renewal option or other similar right or option) during such holdover period,
(iii) Tenant shall continue to pay Base Rent in the amount payable upon the date of the expiration or earlier termination of this Lease or such other amount as Landlord may indicate, in Landlord’s sole and absolute discretion, in such
written consent, and (iv) all other payments shall continue under the terms of this Lease. If Tenant remains in possession of the Premises after the expiration or earlier termination of the Term without the express written consent of Landlord,
(A) Tenant shall become a tenant at sufferance upon the terms of this Lease except that the monthly rental shall be equal to 150% of Rent in effect during the last 30 days of the Term, and (B) Tenant shall be responsible for all damages
suffered by Landlord resulting from or occasioned by Tenant’s holding over, including, if Tenant has received written notice from Landlord for the potential thereof, consequential damages. No holding over by Tenant, whether with or without
consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this Section 8 shall not be construed as consent for Tenant to retain possession of the Premises. Acceptance by Landlord of Rent after
the expiration of the Term or earlier termination of this Lease shall not result in a renewal or reinstatement of this Lease. 
 9.
Taxes. Landlord shall pay, as part of Operating Expenses, all taxes, levies, assessments and governmental charges of any kind (collectively referred to as “Taxes”) imposed by any federal, state, regional, municipal, local or
other governmental authority or agency, including, without limitation, quasi-public agencies (collectively, “Governmental Authority”) during the Term, including, without limitation, all Taxes: (i) imposed on or measured by or
based, in whole or in part, on rent payable to Landlord under this Lease and/or from the rental by Landlord of the Project or any portion thereof, or (ii) based on the square footage, assessed value or other measure or evaluation of any kind of
the Premises or the Project, or (iii) assessed or imposed by or on the operation or maintenance of any portion of the Premises or the Project, including parking, or (iv) assessed or imposed by, or at the direction of, or resulting from
statutes or regulations, or interpretations thereof, promulgated by, any Governmental Authority, or (v) imposed as a license or other fee on Landlord’s business of leasing space in the Project. Landlord may contest by appropriate legal
proceedings the amount, validity, or application of any Taxes or liens securing Taxes. Taxes shall not include any net income taxes imposed on Landlord unless such net income taxes are in substitution for any Taxes payable hereunder. If any such Tax
is levied or assessed directly against Tenant, then Tenant shall be responsible for and shall pay the same at such times and in such manner as the taxing authority shall require. Tenant shall pay, prior to delinquency, any and all Taxes levied or
assessed against any personal property or 
  
 

 

			
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trade fixtures placed by Tenant in the Premises, whether levied or assessed against Landlord or Tenant. If any Taxes on Tenant’s personal property or
trade fixtures are levied against Landlord or Landlord’s property, or if the assessed valuation of the Project is increased by a value attributable to improvements in or alterations to the Premises, whether owned by Landlord or Tenant and
whether or not affixed to the real property so as to become a part thereof, higher than the base valuation on which Landlord from time-to-time allocates Taxes to all tenants in the Project, Landlord shall have the right, but not the obligation, to
pay such Taxes. Landlord’s reasonable determination of any excess assessed valuation shall be binding and conclusive, absent manifest error. The amount of any such payment by Landlord shall constitute Additional Rent due from Tenant to Landlord
immediately upon demand. 
 10. Parking. Subject to all matters of record, Force Majeure, a Taking (as defined in Section 19
below) and the exercise by Landlord of its rights hereunder, Tenant shall, at no additional charge during the Base Term, have the right, in common with other tenants of the Project to 4 parking spaces per 1,000 rentable square feet of the Premises
in those areas designated for non-reserved parking, subject in each case to Landlord’s rules and regulations. 10 of the parking spaces which Tenant is entitled to use pursuant to the preceding sentence may, at Tenant’s request, be
designated as “guest parking” spaces and be in a location selected by Landlord adjacent to the Premises. Landlord may allocate parking spaces among Tenant and other tenants in the Project as described above if Landlord determines that such
parking facilities are becoming crowded. Landlord shall not be responsible for enforcing Tenant’s parking rights against any third parties, including other tenants of the Project. 
 11. Utilities, Services. 
 Landlord
shall provide, subject to the terms of this Section 11, water, electricity, heat, light, power, sewer, and other utilities (including gas and fire sprinklers to the extent the Project is plumbed for such services), refuse and trash
collection (collectively, “Utilities”). Tenant shall pay directly to the Utility provider, prior to delinquency, any separately metered Utilities and services which may be furnished to Tenant or the Premises during the Term. Tenant
shall pay, as part of Operating Expenses, its share of all charges for jointly metered Utilities based upon consumption, as reasonably determined by Landlord. Tenant shall be responsible for paying for all Utilities used on the Premises, all
maintenance charges for Utilities, and any storm sewer charges or other similar charges for Utilities imposed by any Governmental Authority or Utility provider, and any taxes, penalties, surcharges or similar charges thereon. No interruption or
failure of Utilities, from any cause whatsoever other than Landlord’s willful misconduct, shall result in eviction or constructive eviction of Tenant, termination of this Lease or the abatement of Rent. 
 12. Alterations and Tenant’s Property. Any alterations, additions, or improvements made to the Premises by or on behalf of Tenant, including
additional locks or bolts of any kind or nature upon any doors or windows in the Premises, but excluding installation, removal or realignment of furniture systems (other than removal of furniture systems owned or paid for by Landlord) and
Tenant’s laboratory equipment not involving any modifications to the structure or connections (other then by ordinary plugs or jacks) to Building Systems (as defined in Section 13) (“Alterations”) shall be subject
to Landlord’s prior written consent, which may be given or withheld in Landlord’s sole discretion if any such Alteration affects the structure or Building Systems and otherwise shall not be unreasonably withheld, conditioned or delayed.
Tenant may construct nonstructural Alterations in the Premises without Landlord’s prior approval if the cost of any individual Alteration does not exceed $25,000 and the aggregate cost of all such Alterations in any 12 month period does not
exceed $50,000 (a “Notice-Only Alteration”), provided Tenant notifies Landlord in writing of such intended Notice-Only Alteration, and such notice shall be accompanied by plans, specifications, work contracts and such other
information concerning the nature and cost of the Notice-Only Alteration as may be reasonably requested by Landlord, which notice and accompanying materials shall be delivered to Landlord not less than 15 business days in advance of any proposed
construction. If Landlord approves any Alterations, Landlord may impose such conditions on Tenant in connection with the commencement, performance and completion of such Alterations as Landlord may deem appropriate in Landlord’s reasonable
discretion. Any request 
  
 

 

			
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for approval shall be in writing, delivered not less than 15 business days in advance of any proposed construction, and accompanied by plans, specifications,
bid proposals, work contracts and such other information concerning the nature and cost of the alterations as may be reasonably requested by Landlord, including the identities and mailing addresses of all persons performing work or supplying
materials. Landlord’s right to review plans and specifications and to monitor construction shall be solely for its own benefit, and Landlord shall have no duty to ensure that such plans and specifications or construction comply with applicable
Legal Requirements. Tenant shall cause, at its sole cost and expense, all Alterations to comply with insurance requirements and with Legal Requirements and shall implement at its sole cost and expense any alteration or modification required by Legal
Requirements as a result of any Alterations. Tenant shall pay to Landlord, as Additional Rent, on demand an amount equal to 5% of all charges incurred by Tenant or its contractors or agents in connection with any Alteration to cover Landlord’s
overhead and expenses for plan review, coordination, scheduling and supervision. Before Tenant begins any Alteration, Landlord may post on and about the Premises notices of non-responsibility pursuant to applicable law. Tenant shall reimburse
Landlord for, and indemnify and hold Landlord harmless from, any expense actually incurred by Landlord by reason of faulty work done by Tenant or its contractors, delays caused by such work, or inadequate cleanup. 
 With respect to any Alterations exceeding $50,000, Landlord shall have the right to require Tenant to furnish security or make other arrangements
satisfactory to Landlord to assure payment for the completion of such Alterations work free and clear of liens. With respect to all Alterations, Tenant shall provide (and cause each contractor or subcontractor to provide) certificates of insurance
for workers’ compensation and other coverage in amounts and from an insurance company satisfactory to Landlord protecting Landlord against liability for personal injury or property damage during construction. Upon completion of any Alterations,
Tenant shall deliver to Landlord: (i) sworn statements setting forth the names of all contractors and subcontractors who did the work and final lien waivers from all such contractors and subcontractors; and (ii) “as built” plans
for any such Alteration. 
 Other than (i) the items, if any, listed on Exhibit F attached hereto, (ii) any items agreed by
Landlord in writing to be included on Exhibit F in the future, and (iii) any trade fixtures, machinery, equipment and other personal property not paid for out of the TI Fund (as defined in the Work Letter) which may be removed without
material damage to the Premises, which damage shall be repaired (including capping or terminating utility hook-ups behind walls) by Tenant during the Term (collectively, “Tenant’s Property”), all property of any kind paid for
with the TI Fund, all Alterations, real property fixtures, built-in machinery and equipment, built-in casework and cabinets and other similar additions and improvements built into the Premises so as to become an integral part of the Premises such as
fume hoods which penetrate the roof or plenum area, built-in cold rooms, built-in warm rooms, walk-in cold rooms, walk-in warm rooms, deionized water systems, glass washing equipment, autoclaves, chillers, built-in plumbing, electrical and
mechanical equipment and systems, and any power generator and transfer switch (collectively, “Installations”) shall be and shall remain the property of Landlord during the Term and following the expiration or earlier termination of
the Term, shall not be removed by Tenant at any time during the Term and shall remain upon and be surrendered with the Premises as a part thereof in accordance with Section 28 following the expiration or earlier termination of this
Lease; provided, however, that Landlord shall, at the time its approval of such Installation is requested, notify Tenant if it has elected to condition its consent upon Tenant’s obligation to remove such Installation upon the
expiration or earlier termination of this Lease. Tenant shall have the right to withdraw the consent request and not install such Installation rather than be required to undertake the removal obligation. If Landlord so elects, Tenant shall remove
such Installation upon the expiration or earlier termination of this Lease and restore any damage caused by or occasioned as a result of such removal, including, when removing any of Tenant’s Property which was plumbed, wired or otherwise
connected to any of the Building Systems, capping off all such connections behind the walls of the Premises and repairing any holes. During any such restoration period, Tenant shall pay Rent to Landlord as provided herein as if said space were
otherwise occupied by Tenant. Notwithstanding anything to the contrary contained herein, Tenant shall not be required to remove Tenant’s Work at the expiration or earlier termination of this Lease. 
  
 

 

			
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 13. Landlord’s Repairs. Landlord, as an Operating Expense, shall maintain all of the
structural and exterior components of the Building, the parking and other Common Areas of the Project, in good repair, reasonable wear and tear and uninsured losses and damages caused by Tenant, or by any of Tenant’s agents, servants,
employees, invitees and contractors (collectively, “Tenant Parties”) excluded. Losses and damages caused by Tenant or any Tenant Party shall be repaired by Landlord, to the extent not covered by insurance, at Tenant’s sole cost
and expense. Landlord reserves the right to stop Building Systems services when necessary (i) by reason of accident or emergency, or (ii) for planned repairs, alterations or improvements, which are, in the reasonable judgment of Landlord,
desirable or necessary to be made, until said repairs, alterations or improvements shall have been completed. Landlord shall have no responsibility or liability for failure to supply Building Systems services during any such period of interruption;
provided, however, that Landlord shall, except in case of emergency, make a commercially reasonable effort to give Tenant 48 hours advance notice of any planned stoppage of Building Systems services for routine maintenance, repairs,
alterations or improvements and shall take reasonable measures to minimize any disruption to Tenant’s business. Tenant shall promptly give Landlord written notice of any repair required by Landlord pursuant to this Section after which Landlord
shall make a reasonable effort to promptly and diligently effect such repair. Landlord shall not be liable for any failure to make any repairs or to perform any maintenance unless such failure shall persist for an unreasonable time after
Tenant’s written notice of the need for such repairs or maintenance. Tenant waives its rights under any state or local law to terminate this Lease or to make such repairs at Landlord’s expense and agrees that the parties’ respective
rights with respect to such matters shall be solely as set forth herein. Repairs required as the result of fire, earthquake, flood, vandalism, war, or similar cause of damage or destruction shall be controlled by Section 18. 

14. Tenant’s Repairs. Subject to Section 13 hereof, Tenant, at its expense, shall repair, replace and maintain in good
condition all portions of the Premises, including, without limitation, entries, doors, ceilings, interior windows, interior walls, and the interior side of demising walls, HVAC, plumbing, fire sprinklers, elevators and all other building systems
serving the Premises (“Building Systems”). Such repair and replacement may include capital expenditures and repairs whose benefit may extend beyond the Term. Tenant shall, at its expense, procure and maintain contracts, in form and
substance reasonably satisfactory to Landlord, with copies to Landlord, for, and with contractors specializing and experienced in the maintenance and repair of the Building Systems and all other parts of the Premises that Tenant is responsible for
under this Lease. Should Tenant fail to make any such repair or replacement or fail to maintain the Premises or maintain any contracts, Landlord shall give Tenant written notice of such failure. If Tenant fails to commence cure of such failure
within 10 business days of Landlord’s notice, and thereafter diligently prosecute such cure to completion, Landlord may perform such work and maintain any such contracts and shall be reimbursed by Tenant within 10 business days after demand
therefor; provided, however, that if such failure by Tenant creates or could reasonably create an emergency, Landlord may immediately commence cure of such failure and shall thereafter be entitled to recover the actual costs of such cure from
Tenant. Subject to Sections 17 and 18, Tenant shall bear the full uninsured cost of any repair or replacement to any part of the Project that results from damage caused by Tenant or any Tenant Party and any repair that benefits only
the Premises that results from damage caused by Tenant or any Tenant Party. 
 15. Mechanic’s Liens. Tenant shall discharge, by
bond or otherwise, any mechanic’s lien filed against the Premises or against the Project for work claimed to have been done for, or materials claimed to have been furnished to, Tenant within 15 business days after receipt of notice of the
filing thereof, at Tenant’s sole cost and shall otherwise keep the Premises and the Project free from any liens arising out of work performed, materials furnished or obligations incurred by Tenant. Should Tenant fail to discharge any lien
described herein, Landlord shall have the right, but not the obligation, to pay such claim or post a bond or otherwise provide security to eliminate the lien as a claim against title to the Project and the cost thereof shall be immediately due from
Tenant as Additional Rent. If Tenant shall lease or finance the acquisition of office equipment, furnishings, or other personal property of a removable nature utilized by Tenant in the operation of Tenant’s business, Tenant warrants that any
Uniform Commercial Code Financing Statement filed as a matter of public record by any lessor or creditor of Tenant will upon its face or by exhibit thereto indicate that such Financing Statement is applicable only to removable personal property of
Tenant located within the Premises. In no event shall the address of the Project be furnished on the statement without qualifying language as to applicability of the lien only to removable personal property, located in an identified suite held by
Tenant. 
  
 

 

			
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 16. Indemnification. Tenant hereby indemnifies and agrees to defend, save and hold Landlord
harmless from and against any and all Claims for injury or death to persons or damage to property occurring within or about the Premises, arising directly or indirectly out of use or occupancy of the Premises or a breach or default by Tenant in the
performance of any of its obligations hereunder, unless caused solely by the willful misconduct or gross negligence of Landlord. Landlord shall not be liable to Tenant for, and Tenant assumes all risk of damage to, personal property (including,
without limitation, loss of records kept within the Premises). Tenant further waives any and all Claims for injury to Tenant’s business or loss of income relating to any such damage or destruction of personal property (including, without
limitation, any loss of records). Landlord shall not be liable for any damages arising from any act, omission or neglect of any tenant in the Project or of any other third party. 
 Landlord hereby indemnifies and agrees to defend, save and hold Tenant harmless from and against any and all Claims for injury or death to persons or
damage to property occurring at the Project (but outside of the Premises) caused proximately by the willful misconduct or gross negligence of Landlord. 
 17. Insurance. Landlord shall maintain all risk property and, if applicable, sprinkler damage insurance covering the full replacement cost of the Project or such lesser coverage amount as Landlord may elect
provided such coverage amount is not less than 90% of such full replacement cost. Landlord shall further procure and maintain commercial general liability insurance with a single loss limit of not less than $2,000,000 for bodily injury and
property damage with respect to the Project. Landlord may, but is not obligated to, maintain such other insurance and additional coverages as it may deem necessary, including, but not limited to, flood, environmental hazard and earthquake, loss or
failure of building equipment, errors and omissions, rental loss during the period of repair or rebuilding, workers’ compensation insurance and fidelity bonds for employees employed to perform services and insurance for any improvements
installed by Tenant or which are in addition to the standard improvements customarily furnished by Landlord without regard to whether or not such are made a part of the Project. All such insurance shall be included as part of the Operating Expenses.
The Project may be included in a blanket policy (in which case the cost of such insurance allocable to the Project will be determined by Landlord based upon the insurer’s cost calculations). Tenant shall also reimburse Landlord for any
increased premiums or additional insurance which Landlord reasonably documents to be as a result of Tenant’s particular use of the Premises and provided that Tenant has a reasonable opportunity to cease said particular use/activity prior to
incurring any such costs. 
 Tenant, at its sole cost and expense, shall maintain during the Term: all risk property insurance with business
interruption and extra expense coverage, covering the full replacement cost of all property and improvements installed or placed in the Premises by Tenant at Tenant’s expense; workers’ compensation insurance with no less than the minimum
limits required by law; employer’s liability insurance with such limits as required by law; and commercial general liability insurance, with a minimum limit of not less than $2,000,000 per occurrence for bodily injury and property damage with
respect to the Premises. The commercial general liability insurance policy shall name Landlord, its officers, directors, employees, managers, agents, invitees and contractors (collectively, “Landlord Parties”), as additional
insureds. The commercial general liability insurance policy shall insure on an occurrence and not a claims-made basis; shall be issued by insurance companies which have a rating of not less than policyholder rating of A and financial category rating
of at least Class X in “Best’s Insurance Guide”; shall not be cancelable for nonpayment of premium unless 30 days prior written notice shall have been given to Landlord from the insurer; contain a hostile fire endorsement and a
contractual liability endorsement; and provide primary coverage to Landlord (any policy issued to Landlord providing duplicate or similar coverage shall be deemed excess over Tenant’s policies). Copies of such policies (if requested by any
Holder (as defined below)) or certificates of insurance showing the limits of coverage required hereunder and showing Landlord as an additional insured, along with 
  
 

 

			
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reasonable evidence of the payment of premiums for the applicable period, shall be delivered to Landlord by Tenant upon commencement of the Term and upon
each renewal of said insurance. In addition, Tenant shall submit copies of any policies requested by Landlord if the applicable insurer requires a copy of the policy in connection with the submission of a claim. Tenant’s policy may be a
“blanket policy” with an aggregate per location endorsement which specifically provides that the amount of insurance shall not be prejudiced by other losses covered by the policy. Tenant shall, at least 5 days prior to the expiration of
such policies, furnish Landlord with renewal certificates. 
 In each instance where insurance is to name Landlord as an additional insured,
Tenant shall upon written request of Landlord also designate and furnish certificates so evidencing Landlord as additional insured to: (i) any lender of Landlord holding a security interest in the Project or any portion thereof, (ii) the
landlord under any lease wherein Landlord is tenant of the real property on which the Project is located, if the interest of Landlord is or shall become that of a tenant under a ground or other underlying lease rather than that of a fee owner,
and/or (iii) any management company retained by Landlord to manage the Project. 
 The property insurance obtained by Landlord and
Tenant shall include a waiver of subrogation by the insurers and all rights based upon an assignment from its insured, against Landlord or Tenant, and their respective officers, directors, employees, managers, agents, invitees and contractors
(“Related Parties”), in connection with any loss or damage thereby insured against. Neither party nor its respective Related Parties shall be liable to the other for loss or damage caused by any risk insured against under property
insurance required to be maintained hereunder, and each party waives any claims against the other party, and its respective Related Parties, for such loss or damage. The failure of a party to insure its property shall not void this waiver. Landlord
and its respective Related Parties shall not be liable for, and Tenant hereby waives all claims against such parties for, business interruption and losses occasioned thereby sustained by Tenant or any person claiming through Tenant resulting from
any accident or occurrence in or upon the Premises or the Project from any cause whatsoever. If the foregoing waivers shall contravene any law with respect to exculpatory agreements, the liability of Landlord or Tenant shall be deemed not released
but shall be secondary to the other’s insurer. 
 Landlord may require insurance policy limits to be raised to conform with requirements
of Landlord’s lender and/or to bring coverage limits to levels then being generally required of new tenants within the Project; provided, however, that the increased amount of coverage is consistent with coverage amounts then being required by
institutional owners of similar projects with tenants occupying similar size premises in the geographical area in which the Project is located. 
 18. Restoration. If, at any time during the Term, the Project or the Premises are damaged or destroyed by a fire or other insured casualty, Landlord shall notify Tenant within 60 days after discovery of such damage as to the amount
of time Landlord reasonably estimates it will take to restore the Project or the Premises, as applicable (the “Restoration Period”). If the Restoration Period is estimated to exceed 12 months (the “Maximum Restoration
Period”), Landlord may, in such notice, elect to terminate this Lease as of the date that is 75 days after the date of discovery of such damage or destruction; provided, however, that notwithstanding Landlord’s election to restore,
Tenant may elect to terminate this Lease by written notice to Landlord delivered within 5 business days of receipt of a notice from Landlord estimating a Restoration Period for the Premises longer than the Maximum Restoration Period. Unless Landlord
or Tenant so elect to terminate this Lease, Landlord shall, subject to receipt of sufficient insurance proceeds (with any deductible to be treated as a current Operating Expense), promptly restore the Premises (excluding the improvements installed
by Tenant or by Landlord and paid for by Tenant unless covered by the insurance Landlord maintains as an Operating Expense hereunder, in which case such improvements shall be included, to the extent of such insurance proceeds, in Landlord’s
restoration), subject to delays arising from the collection of insurance proceeds, from Force Majeure events or as needed to obtain any license, clearance or other authorization of any kind required to enter into and restore the Premises issued by
any Governmental Authority having jurisdiction over the use, storage, handling, treatment, generation, release, disposal, removal or remediation of Hazardous 
  
 

 

			
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Materials (as defined in Section 30) in, on or about the Premises (collectively referred to herein as “Hazardous Materials
Clearances”); provided, however, that if repair or restoration of the Premises is not substantially complete as of the end of the Maximum Restoration Period or, if longer, the Restoration Period, Landlord may, in its sole and
absolute discretion, elect not to proceed with such repair and restoration, or Tenant may by written notice to Landlord delivered within 5 business days of the expiration of the Maximum Restoration Period or, if longer, the Restoration Period, elect
to terminate this Lease, in which event Landlord shall be relieved of its obligation to make such repairs or restoration and this Lease shall terminate as of the date that is 75 days after the later of: (i) discovery of such damage or
destruction, or (ii) the date all required Hazardous Materials Clearances are obtained, but Landlord shall retain any Rent paid and the right to any Rent payable by Tenant prior to such election by Landlord or Tenant. 
 Tenant, at its expense, shall promptly perform, subject to delays arising from the collection of insurance proceeds, from Force Majeure (as defined in
Section 34) events or to obtain Hazardous Material Clearances, all repairs or restoration not required to be done by Landlord and shall promptly re-enter the Premises and commence doing business in accordance with this Lease.
Notwithstanding the foregoing, either Landlord or Tenant may terminate this Lease upon written notice to the other if the Premises are damaged during the last year of the Term and Landlord reasonably estimates that it will take more than
2 months to repair such damage; provided, however, that such notice is delivered within 10 business days after the date that Landlord provides Tenant with written notice of the estimated Restoration Period. Landlord shall also have the right to
terminate this Lease if insurance proceeds are not available for such restoration. Rent shall be abated from the date all required Hazardous Material Clearances are obtained until the Premises are repaired and restored, in the proportion which the
area of the Premises, if any, which is not usable by Tenant bears to the total area of the Premises, unless Landlord provides Tenant with other space during the period of repair that is suitable for the temporary conduct of Tenant’s business.
Such abatement shall be the sole remedy of Tenant, and except as provided in this Section 18, Tenant waives any right to terminate the Lease by reason of damage or casualty loss. 
 The provisions of this Lease, including this Section 18, constitute an express agreement between Landlord and Tenant with respect to any and
all damage to, or destruction of, all or any part of the Premises, or any other portion of the Project, and any statute or regulation which is now or may hereafter be in effect shall have no application to this Lease or any damage or destruction to
all or any part of the Premises or any other portion of the Project, the parties hereto expressly agreeing that this Section 18 sets forth their entire understanding and agreement with respect to such matters. 
 19. Condemnation. If the whole or any material part of the Premises or the Project is taken for any public or quasi-public use under governmental
law, ordinance, or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking” or “Taken”), and the Taking would, as determined by a mutually acceptable arbitrator (or, if the
parties cannot agree on an arbitrator, a court appointed arbitrator following a petition by the parties for the appointment of an arbitrator), either prevent or materially interfere with Tenant’s use of the Premises or materially interfere with
or impair Landlord’s ownership or operation of the Project, then either party shall have the right, upon written notice to the other within 15 days of such Taking, to terminate the Lease and Rent shall be apportioned as of said date. If part of
the Premises shall be Taken, and this Lease is not terminated as provided above, Landlord shall promptly restore the Premises and the Project as nearly as is commercially reasonable under the circumstances to their condition prior to such partial
Taking and the rentable square footage of the Building, the rentable square footage of the Premises, Tenant’s Share of Operating Expenses and the Rent payable hereunder during the unexpired Term shall be reduced to such extent as may be fair
and reasonable under the circumstances. Upon any such Taking, Landlord shall be entitled to receive the entire price or award from any such Taking without any payment to Tenant, and Tenant hereby assigns to Landlord Tenant’s interest, if any,
in such award. Tenant shall have the right, to the extent that same shall not diminish Landlord’s award, to make a separate claim against the condemning authority (but not Landlord) for such compensation as may be separately awarded or
recoverable by Tenant for moving 
  
 

 

			
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expenses and damage to Tenant’s trade fixtures, if a separate award for such items is made to Tenant. Tenant hereby waives any and all rights it might
otherwise have pursuant to any provision of state law to terminate this Lease upon a partial Taking of the Premises or the Project. 
 20.
Events of Default. Each of the following events shall be a default (“Default”) by Tenant under this Lease: 
 (a)
Payment Defaults. Tenant shall fail to pay any installment of Rent or any other payment hereunder within 5 business days after receipt of written notice of the delinquency; provided, however, that Landlord will give Tenant notice and an
opportunity to cure any failure to pay Rent within 3 days of any such notice not more than once in any 12 month period and Tenant agrees that such notice shall be in lieu of and not in addition to, or shall be deemed to be, any notice required by
law. 
 (b) Insurance. Any insurance required to be maintained by Tenant pursuant to this Lease shall be canceled or terminated or
shall expire or shall be reduced or materially changed, or Landlord shall receive a notice of nonrenewal of any such insurance and Tenant shall fail to obtain replacement insurance at least 10 days before the expiration of the current coverage.

 (c) Abandonment. Tenant shall abandon the Premises. Tenant shall not be deemed to have abandoned the Premises if (i) Tenant
provides Landlord with reasonable advance notice prior to vacating and, at the time of vacating the Premises, Tenant completes Tenant’s obligations with respect to the Surrender Plan in compliance with Section 28, (ii) Tenant
has made reasonable arrangements with Landlord for the security of the Premises for the balance of the Term, and (iii) Tenant continues during the balance of the Term to satisfy all of its obligations under the Lease as they come due.

 (d) Improper Transfer. Tenant shall assign, sublease or otherwise transfer or attempt to transfer all or any portion of
Tenant’s interest in this Lease or the Premises except as expressly permitted herein, or Tenant’s interest in this Lease shall be attached, executed upon, or otherwise judicially seized and such action is not released within 90 days of the
action. 
 (e) Liens. Tenant shall fail to discharge or otherwise obtain the release of any lien placed upon the Premises in violation
of this Lease within 15 business days after receipt of notice of any such lien being filed against the Premises. 
 (f) Insolvency
Events. Tenant or any guarantor or surety of Tenant’s obligations hereunder shall: (A) make a general assignment for the benefit of creditors; (B) commence any case, proceeding or other action seeking to have an order for relief
entered on its behalf as a debtor or to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or
other similar official for it or for all or of any substantial part of its property (collectively a “Proceeding for Relief”); (C) become the subject of any Proceeding for Relief which is not dismissed within 90 days of its
filing or entry; or (D) die or suffer a legal disability (if Tenant, guarantor, or surety is an individual) or be dissolved or otherwise fail to maintain its legal existence (if Tenant, guarantor or surety is a corporation, partnership or other
entity). 
 (g) Estoppel Certificate or Subordination Agreement. Tenant fails to execute any document required from Tenant under
Sections 23 or 27 within 5 business days after a second notice requesting such document. 
 (h) Other Defaults. Tenant
shall fail to comply with any provision of this Lease other than those specifically referred to in this Section 20, and, except as otherwise expressly provided herein, such failure shall continue for a period of 30 days after written
notice thereof from Landlord to Tenant. 
  
 

 

			
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 Any notice given under Section 20(h) hereof shall: (i) specify the alleged default, (ii) demand
that Tenant cure such default, (iii) be in lieu of, and not in addition to, or shall be deemed to be, any notice required under any provision of applicable law, and (iv) not be deemed a forfeiture or a termination of this Lease unless
Landlord elects otherwise in such notice; provided that if the nature of Tenant’s default pursuant to Section 20(h) is such that it cannot be cured by the payment of money and reasonably requires more than 30 days to cure,
then Tenant shall not be deemed to be in default if Tenant commences such cure within said 30 day period and thereafter diligently prosecutes the same to completion; provided, however, that such cure shall be completed no later than 90
days from the date of Landlord’s notice. 
 21. Landlord’s Remedies. 
 (a) Payment By Landlord; Interest. Upon a Default by Tenant hereunder, Landlord may, without waiving or releasing any obligation of Tenant
hereunder, make such payment or perform such act. All sums so paid or incurred by Landlord, together with interest thereon, from the date such sums were paid or incurred, at the annual rate equal to 12% per annum or the highest rate permitted
by law (the “Default Rate”), whichever is less, shall be payable to Landlord on demand as Additional Rent. Nothing herein shall be construed to create or impose a duty on Landlord to mitigate any damages resulting from Tenant’s
Default hereunder. 
 (b) Late Payment Rent. Late payment by Tenant to Landlord of Rent and other sums due will cause Landlord to
incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such costs include, but are not limited to, processing and accounting charges and late charges which may be imposed on
Landlord under any Mortgage covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the date such payment is due, Tenant shall pay to Landlord an additional sum equal to 6% of the
overdue Rent as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In addition to the late charge, Rent not paid when due shall bear
interest at the Default Rate from the 5th day after the date due until paid. 
 (c) Remedies. Upon the occurrence of a Default,
Landlord, at its option, without further notice or demand to Tenant, shall have in addition to all other rights and remedies provided in this Lease, at law or in equity, the option to pursue any one or more of the following remedies, each and all of
which shall be cumulative and nonexclusive, without any notice or demand whatsoever. 
 (i) Terminate this Lease, or at
Landlord’s option, Tenant’s right to possession only, in which event Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may in accordance with legal process, without prejudice to any other
remedy which it may have for possession or arrearages in rent, enter upon and take possession of the Premises and expel or remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution
or any claim or damages therefor; 
 (ii) Upon any termination of this Lease, whether pursuant to the foregoing
Section 21(c)(i) or otherwise, Landlord may recover from Tenant the following: 
 (A) The worth at the time of
award of any unpaid rent which has been earned at the time of such termination; plus 
 (B) The worth at the time of award of
the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 
  
 

 

			
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 (C) The worth at the time of award of the amount by which the unpaid rent for the balance
of the Term after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 
 (D) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of things would be
likely to result therefrom, specifically including, but not limited to, customary brokerage commissions and advertising expenses incurred, expenses of remodeling the Premises or any portion thereof for a new tenant, whether for the same or a
different use, and any special concessions made to obtain a new tenant; and 
 (E) At Landlord’s election, such other
amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law. 
 The term
“rent” as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections
21(c)(ii) (A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of
award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%. 
 (iii) Landlord may continue this Lease in effect after Tenant’s Default and recover rent as it becomes due (Landlord and Tenant
hereby agreeing that Tenant has the right to sublet or assign hereunder, subject only to reasonable limitations). Accordingly, if Landlord does not elect to terminate this Lease following a Default by Tenant, Landlord may, from time to time, without
terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover all Rent as it becomes due. 
 (iv) Whether or not Landlord elects to terminate this Lease following a Default by Tenant, Landlord shall have the right to terminate any and all subleases, licenses, concessions or other consensual arrangements for possession entered into
by Tenant and affecting the Premises or may, in Landlord’s sole discretion, succeed to Tenant’s interest in such subleases, licenses, concessions or arrangements. Upon Landlord’s election to succeed to Tenant’s interest in any
such subleases, licenses, concessions or arrangements, Tenant shall, as of the date of notice by Landlord of such election, have no further right to or interest in the rent or other consideration receivable thereunder. 
 (d) Effect of Exercise. Exercise by Landlord of any remedies hereunder or otherwise available shall not be deemed to be an acceptance of surrender
of the Premises and/or a termination of this Lease by Landlord, it being understood that such surrender and/or termination can be effected only by the express written agreement of Landlord and Tenant. Any law, usage, or custom to the contrary
notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in accordance
with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same and shall not be deemed a waiver of Landlord’s right to
enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of Rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by Landlord of
any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s intention to re-enter, re-take or
otherwise obtain possession of the Premises as provided in any statute, or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge.
Any reletting of the Premises or any portion thereof shall be on such terms and conditions as 
  
 

 

			
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Landlord in its sole discretion may determine. Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished because of,
Landlord’s failure to relet the Premises or collect rent due in respect of such reletting or otherwise to mitigate any damages arising by reason of Tenant’s Default. 
 22. Assignment and Subletting. 
 (a)
General Prohibition. Without Landlord’s prior written consent subject to and on the conditions described in this Section 22, Tenant shall not, directly or indirectly, voluntarily or by operation of law, assign this Lease or
sublease the Premises or any part thereof or mortgage, pledge, or hypothecate its leasehold interest or grant any concession or license within the Premises, and any attempt to do any of the foregoing shall be void and of no effect. If Tenant is a
corporation, partnership or limited liability company, the shares or other ownership interests thereof which are not actively traded upon a stock exchange or in the over-the-counter market, a transfer or series of transfers whereby 49% or more of
the issued and outstanding shares or other ownership interests of such corporation are, or voting control is, transferred (but excepting transfers upon deaths of individual owners) from a person or persons or entity or entities which were owners
thereof at time of execution of this Lease to persons or entities who were not owners of shares or other ownership interests of the corporation, partnership or limited liability company at time of execution of this Lease, shall be deemed an
assignment of this Lease requiring the consent of Landlord as provided in this Section 22. 
 (b) Permitted Transfers. If
Tenant desires to assign, sublease, hypothecate or otherwise transfer this Lease or sublet the Premises other than pursuant to a Permitted Assignment (as defined below), then at least 15 business days, but not more than 90 business days, before the
date Tenant desires the assignment or sublease to be effective (the “Assignment Date”), Tenant shall give Landlord a notice (the “Assignment Notice”) containing such information about the proposed assignee or
sublessee, including the proposed use of the Premises and any Hazardous Materials proposed to be used, stored handled, treated, generated in or released or disposed of from the Premises, the Assignment Date, any relationship between Tenant and the
proposed assignee or sublessee, and all material terms and conditions of the proposed assignment or sublease, including a copy of any proposed assignment or sublease in its substantially final form, and such other information as Landlord may deem
reasonably necessary or appropriate to its consideration whether to grant its consent. Landlord may, by giving written notice to Tenant within 15 business days after receipt of the Assignment Notice: (i) grant such consent, (ii) refuse
such consent, in its sole and absolute discretion, if the proposed assignment, hypothecation or other transfer or subletting concerns more than (together with all other then effective subleases) 50% of the Premises, (iii) refuse such consent,
in its reasonable discretion, if the proposed subletting concerns (together with all other then effective subleases) 50% or less of the Premises (provided that Landlord shall further have the right to review and approve or disapprove the proposed
form of sublease prior to the effective date of any such subletting), or (iv) terminate this Lease with respect to the space described in the Assignment Notice as of the Assignment Date (an “Assignment Termination”). If
Landlord delivers notice of its election to exercise an Assignment Termination, Tenant shall have the right to withdraw such Assignment Notice by written notice to Landlord of such election within 5 business days after Landlord’s notice
electing to exercise the Assignment Termination. If Tenant withdraws such Assignment Notice, this Lease shall continue in full force and effect. If Tenant does not withdraw such Assignment Notice, this Lease, and the term and estate herein granted,
shall terminate as of the Assignment Date with respect to the space described in such Assignment Notice. No failure of Landlord to exercise any such option to terminate this Lease, or to deliver a timely notice in response to the Assignment Notice,
shall be deemed to be Landlord’s consent to the proposed assignment, sublease or other transfer. Tenant shall reimburse Landlord for all of Landlord’s reasonable out-of-pocket expenses in connection with its consideration of any Assignment
Notice up to a maximum of $1,500 per Assignment Notice. 
 Notwithstanding the foregoing, Landlord’s consent to an assignment of this
Lease or a subletting of any portion of the Premises to any entity controlling, controlled by or under common control with Tenant (each a “Control Permitted Assignment”) shall not be 
  
 

 

			
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required, provided that Landlord shall have the right to approve the form of any such sublease or assignment in its reasonable discretion. In addition,
Tenant shall have the right to assign this Lease, upon 30 days prior written notice to Landlord but without obtaining Landlord’s prior written consent, to a corporation or other entity which is a successor-in-interest to Tenant, by way of
merger, consolidation or corporate reorganization, or by the purchase of all or substantially all of the assets or the ownership interests of Tenant provided that (i) such merger or consolidation, or such acquisition or assumption, as the case
may be, is for a good business purpose and not principally for the purpose of transferring the Lease, and (ii) the net worth (as determined in accordance with generally accepted accounting principles (“GAAP”)) of the assignee
is not less than the net worth (as determined in accordance with GAAP) of Tenant as of the date of Tenant’s most current quarterly or annual financial statements, and (iii) such assignee shall agree in writing to assume all of the terms,
covenants and conditions of this Lease arising after the effective date of the assignment (a “Corporate Permitted Assignment”). Control Permitted Assignments and Corporate Permitted Assignments are hereinafter referred to as
“Permitted Assignments.” 
 (c) Additional Conditions. As a condition to any such assignment or subletting, whether
or not Landlord’s consent is required, Landlord may require: 
 (i) that any assignee or subtenant agree, in writing at
the time of such assignment or subletting, that if Landlord gives such party written notice that Tenant is in default under this Lease, such party shall thereafter make all payments otherwise due Tenant directly to Landlord, which payments will be
received by Landlord without any liability except to credit such payment against those due under the Lease, and any such third party shall agree to attorn to Landlord or its successors and assigns should this Lease be terminated for any reason;
provided, however, in no event shall Landlord or its successors or assigns be obligated to accept such attornment; and 
 (ii) A list of Hazardous Materials, certified by the proposed assignee or sublessee to be true and correct, which the proposed assignee or sublessee intends to use, store, handle, treat, generate in or release or dispose of from the
Premises, together with copies of all documents relating to such use, storage, handling, treatment, generation, release or disposal of Hazardous Materials by the proposed assignee or subtenant in the Premises or on the Project, prior to the proposed
assignment or subletting, including, without limitation: permits; approvals; reports and correspondence; storage and management plans; plans relating to the installation of any storage tanks to be installed in or under the Project (provided, said
installation of tanks shall only be permitted after Landlord has given its written consent to do so, which consent may be withheld in Landlord’s sole and absolute discretion); and all closure plans or any other documents required by any and all
federal, state and local Governmental Authorities for any storage tanks installed in, on or under the Project for the closure of any such tanks. Neither Tenant nor any such proposed assignee or subtenant is required, however, to provide Landlord
with any portion(s) of the such documents containing information of a proprietary nature which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous activities. 
 (d) No Release of Tenant, Sharing of Excess Rents. Notwithstanding any assignment or subletting, Tenant and any guarantor or surety of
Tenant’s obligations under this Lease shall at all times remain fully and primarily responsible and liable for the payment of Rent and for compliance with all of Tenant’s other obligations under this Lease. If the Rent due and payable by a
sublessee or assignee (or a combination of the rental payable under such sublease or assignment plus any bonus or other consideration therefor or incident thereto in any form) exceeds the sum of the rental payable under this Lease (excluding
however, any Rent payable under this Section) and actual and reasonable brokerage fees, legal costs and any design or construction fees directly related to and required pursuant to the terms of any such sublease) (“Excess Rent”),
then Tenant shall be bound and obligated to pay Landlord as Additional Rent hereunder 50% of such Excess Rent within 10 days following receipt thereof by Tenant. If Tenant shall sublet the Premises or any part thereof, Tenant hereby immediately and
irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any such subletting, and Landlord as assignee, or a receiver for Tenant appointed on Landlord’s application, may collect such rent and
apply it toward Tenant’s obligations under this Lease; except that, until the occurrence of a Default, Tenant shall have the right to collect such rent. 
  
 

 

			
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 (e) No Waiver. The consent by Landlord to an assignment or subletting shall not relieve Tenant or
any assignees of this Lease or any sublessees of the Premises from obtaining the consent of Landlord to any further assignment or subletting nor shall it release Tenant or any assignee or sublessee of Tenant from full and primary liability under the
Lease. The acceptance of Rent hereunder, or the acceptance of performance of any other term, covenant, or condition thereof, from any other person or entity shall not be deemed to be a waiver of any of the provisions of this Lease or a consent to
any subletting, assignment or other transfer of the Premises. 
 (f) Prior Conduct of Proposed Transferee. Notwithstanding any other
provision of this Section 22, if (i) the proposed assignee or sublessee of Tenant has been required by any prior landlord, lender or Governmental Authority to take remedial action in connection with Hazardous Materials contaminating
a property, where the contamination resulted from such party’s action or use of the property in question, (ii) the proposed assignee or sublessee is subject to an enforcement order issued by any Governmental Authority in connection with
the use, storage, handling, treatment, generation, release or disposal of Hazardous Materials (including, without limitation, any order related to the failure to make a required reporting to any Governmental Authority), or (iii) because of the
existence of a pre-existing environmental condition in the vicinity of or underlying the Project, the risk that Landlord would be targeted as a responsible party in connection with the remediation of such pre-existing environmental condition would
be materially increased or exacerbated by the proposed use of Hazardous Materials by such proposed assignee or sublessee, Landlord shall have the absolute right, in the exercise of Landlord’s good faith sole discretion, to refuse to consent to
any assignment or subletting to any such party. Landlord shall not act in an arbitrary and capricious manner in electing whether to grant or withhold such consent. 
 23. Estoppel Certificate. Tenant shall, within 10 business days after receipt of written notice from Landlord, execute, acknowledge and deliver a statement in writing in any form reasonably requested by a
proposed lender or purchaser, (i) certifying that, to Tenant’s knowledge, this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease as so modified is in
full force and effect) and the dates to which the rental and other charges are paid in advance, if any, (ii) acknowledging that, to Tenant’s knowledge, there are not any uncured defaults on the part of Landlord hereunder, or specifying
such defaults if any are claimed, and (iii) setting forth such further information with respect to the status of this Lease or the Premises as may be reasonably requested thereon. Any such statement may be relied upon by any prospective
purchaser or encumbrancer of all or any portion of the real property of which the Premises are a part. Tenant’s failure to deliver such statement within such time shall, at the option of Landlord, constitute a Default under this Lease, and, in
any event, shall be conclusive upon Tenant that the Lease is in full force and effect and without modification except as may be represented by Landlord in any certificate prepared by Landlord and delivered to Tenant for execution. 
 24. Quiet Enjoyment. So long as Tenant shall perform all of the covenants and agreements herein required to be performed by Tenant, Tenant shall,
subject to the terms of this Lease, at all times during the Term, have peaceful and quiet enjoyment of the Premises against any person claiming by, through or under Landlord. 
 25. Prorations. All prorations required or permitted to be made hereunder shall be made on the basis of a 360 day year and 30 day months.

 26. Rules and Regulations. Tenant shall, at all times during the Term and any extension thereof, comply with all reasonable rules
and regulations at any time or from time to time established by Landlord covering use of the Premises and the Project; provided, however, that (a) such rules and regulations do not unreasonably and materially interfere with Tenant’s use
and enjoyment of the 
  
 

 

			
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Premises for the Permitted Use; and (b) Landlord provides reasonable advance written notice thereof. The current rules and regulations are attached
hereto as Exhibit E. Landlord shall not enact new rules and regulations simply as a means to increase the Rent paid by Tenant under this Lease. If there is any conflict between said rules and regulations and other provisions of this Lease,
the terms and provisions of this Lease shall control. Landlord shall not have any liability or obligation for the breach of any rules or regulations by other tenants in the Project and shall not enforce such rules and regulations in a discriminatory
manner. 
 27. Subordination. This Lease and Tenant’s interest and rights hereunder are hereby made and shall be subject and
subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications, consolidations, refinancing, assignments and extensions
thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to possession of the Premises shall not be disturbed by the
Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such instruments, confirming such subordination, and such
instruments of attornment as shall be reasonably requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the Premises as set forth in Section 24
hereof. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without
regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this Lease had been executed prior to the execution, delivery and recording of such
Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security assignments and any other encumbrances, and any reference to the
“Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust. 
 As of the date of this Lease,
there is no existing Mortgage with a lien upon the Project. Upon written request from Tenant, Landlord shall obtain, at no cost to Tenant, for execution by Tenant a commercially reasonable form of non-disturbance and attornment agreement executed by
the Holder of any future Mortgage with a lien on the Project which provides, among other things, that so long as Tenant is not in Default of its obligations under this Lease, foreclosure or other enforcement of such Mortgage shall not terminate this
Lease and the successor to Landlord’s interest in the Project shall recognize this Lease and Tenant’s right to possession of the Premises. If the Holder is an institutional lender, Tenant agrees that a non-disturbance and attornment
agreement on the form customarily used by such Holder shall be deemed acceptable to Tenant if it provides that so long as Tenant is not in Default of its obligations under this Lease, foreclosure or other enforcement of such Mortgage shall not
terminate this Lease and the successor to Landlord’s interest in the Project shall recognize this Lease and Tenant’s right to possession of the Premises. 
 28. Surrender. Upon the expiration of the Term or earlier termination of Tenant’s right of possession, Tenant shall surrender the Premises to Landlord in the same condition as received, subject to ordinary
wear and tear and any Alterations or Installations permitted by Landlord to remain in the Premises, free of Hazardous Materials brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from, the Premises by any
person other than a Landlord Party (collectively, “Tenant HazMat Operations”) and released of all Hazardous Materials Clearances, broom clean, ordinary wear and tear and casualty loss and condemnation covered by Sections 18
and 19 excepted. At least 3 months prior to the surrender of the Premises, Tenant shall deliver to Landlord a narrative description of the actions proposed (or required by any Governmental Authority) to be taken by Tenant in order to
surrender the Premises (including any Installations permitted by Landlord to remain in the Premises) at the expiration or earlier termination of the Term, free from any residual impact from the Tenant HazMat Operations and otherwise released for
unrestricted use and occupancy (the “Surrender Plan”). Such Surrender Plan shall be accompanied by a current listing of (i) all Hazardous Materials licenses and permits held by or on behalf of any Tenant Party with respect to
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Hazardous Materials used, stored, handled, treated, generated, released or disposed of from the Premises, and shall be subject to the review and approval of
Landlord’s environmental consultant. In connection with the review and approval of the Surrender Plan, upon the request of Landlord, Tenant shall deliver to Landlord or its consultant such additional non-proprietary information concerning
Tenant HazMat Operations as Landlord shall reasonably request. On or before such surrender, Tenant shall deliver to Landlord reasonable evidence that the approved Surrender Plan shall have been satisfactorily completed and Landlord shall have the
right, subject to reimbursement at Tenant’s expense as set forth below, to cause Landlord’s environmental consultant to inspect the Premises and perform such additional procedures as may be deemed reasonably necessary to confirm that the
Premises are, as of the effective date of such surrender or early termination of the Lease, free from any residual impact from Tenant HazMat Operations. Tenant shall reimburse Landlord, as Additional Rent, for the actual out-of pocket expense
incurred by Landlord for Landlord’s environmental consultant to review and approve the Surrender Plan and to visit the Premises and verify satisfactory completion of the same, which cost shall not exceed $2,500. Landlord shall have the
unrestricted right to deliver such Surrender Plan and any report by Landlord’s environmental consultant with respect to the surrender of the Premises to third parties; provided, however, that Landlord instructs such parties to treat the same as
confidential. If the Surrender Plan or Landlord’s environmental consultant’s report discloses information concerning Tenant’s HazMat Operations other than non-proprietary information, then, upon Tenant’s written request to
Landlord, disclosure of the same to third parties shall be subject to the execution by such third parties of a commercially reasonable form of non-disclosure agreement. 
 If Tenant shall fail to prepare or submit a Surrender Plan approved by Landlord, or if Tenant shall fail to complete the approved Surrender Plan, or if such Surrender Plan, whether or not approved by Landlord, shall
fail to adequately address any residual effect of Tenant HazMat Operations in, on or about the Premises, Landlord shall have the right to take such actions as Landlord may deem reasonable or appropriate to assure that the Premises and the Project
are surrendered free from any residual impact from Tenant HazMat Operations, the reasonable cost of which actions shall be reimbursed by Tenant as Additional Rent, without regard to the limitation set forth in the first paragraph of this
Section 28. 
 Tenant shall immediately return to Landlord all keys and/or access cards to parking, the Project, restrooms or all
or any portion of the Premises furnished to or otherwise procured by Tenant. If any such access card or key is lost, Tenant shall pay to Landlord, at Landlord’s election, either the cost of replacing such lost access card or key or the cost of
reprogramming the access security system in which such access card was used or changing the lock or locks opened by such lost key. Any Tenant’s Property, Alterations and property not so removed by Tenant as permitted or required herein shall be
deemed abandoned and may be stored, removed, and disposed of by Landlord at Tenant’s expense, and Tenant waives all claims against Landlord for any damages resulting from Landlord’s retention and/or disposition of such property. All
obligations of Tenant hereunder not fully performed as of the termination of the Term, including the obligations of Tenant under Section 30 hereof, shall survive the expiration or earlier termination of the Term, including, without
limitation, indemnity obligations, payment obligations with respect to Rent and obligations concerning the condition and repair of the Premises. 
 29. Waiver of Jury Trial. TENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL BY JURY OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING OUT OF THIS
LEASE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO. 
 30.
Environmental Requirements. 
 (a) Prohibition/Compliance/Indemnity. Tenant shall not cause or permit any Hazardous Materials
(as hereinafter defined) to be brought upon, kept, used, stored, handled, treated, generated in or about, or released or disposed of from, the Premises or the Project in violation of applicable Environmental Requirements (as hereinafter defined) by
Tenant or any Tenant Party. If Tenant 
  
 

 

			
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breaches the obligation stated in the preceding sentence, or if the presence of Hazardous Materials in the Premises during the Term or any holding over
results in contamination of the Premises, the Project or any adjacent property or if contamination of the Premises, the Project or any adjacent property by Hazardous Materials brought into, kept, used, stored, handled, treated, generated in or
about, or released or disposed of from, the Premises by anyone other than Landlord and Landlord’s employees, agents and contractors otherwise occurs during the Term or any holding over, Tenant hereby indemnifies and shall defend and hold
Landlord, its officers, directors, employees, agents and contractors harmless from any and all actions (including, without limitation, remedial or enforcement actions of any kind, administrative or judicial proceedings, and orders or judgments
arising out of or resulting therefrom), costs, claims, damages (including, without limitation, punitive damages and damages based upon diminution in value of the Premises or the Project, or the loss of, or restriction on, use of the Premises or any
portion of the Project), expenses (including, without limitation, attorneys’, consultants’ and experts’ fees, court costs and amounts paid in settlement of any claims or actions), fines, forfeitures or other civil, administrative or
criminal penalties, injunctive or other relief (whether or not based upon personal injury, property damage, or contamination of, or adverse effects upon, the environment, water tables or natural resources), liabilities or losses (collectively,
“Environmental Claims”) which arise during or after the Term as a result of such contamination. This indemnification of Landlord by Tenant includes, without limitation, costs incurred in connection with any investigation of site
conditions or any cleanup, treatment, remedial, removal, or restoration work required by any federal, state or local Governmental Authority because of Hazardous Materials present in the air, soil or ground water above, on, or under the Premises.
Without limiting the foregoing, if the presence of any Hazardous Materials on the Premises, the Building, the Project or any adjacent property caused or permitted by Tenant or any Tenant Party results in any contamination of the Premises, the
Building, the Project or any adjacent property, Tenant shall promptly take all actions at its sole expense and in accordance with applicable Environmental Requirements as are necessary to return the Premises, the Building, the Project or any
adjacent property to the condition existing prior to the time of such contamination, provided that Landlord’s approval of such action shall first be obtained, which approval shall not unreasonably be withheld so long as such actions would not
potentially have any material adverse long-term or short-term effect on the Premises, the Building or the Project. Notwithstanding anything to the contrary contained in this Section 30, Tenant shall not be responsible for, and the
indemnification and hold harmless obligation set forth in this paragraph shall not apply to, the presence of any Hazardous Materials in the Premises which Tenant can prove to Landlord’s reasonable satisfaction migrated from outside of the
Premises into the Premises unless the presence of such Hazardous Materials (i) is the result of a breach by Tenant of any of its obligations under this Lease, or (ii) was caused, contributed to or exacerbated by Tenant or any Tenant Party.

 (b) Business. Landlord acknowledges that it is not the intent of this Section 30 to prohibit Tenant from using the
Premises for the Permitted Use. Tenant may operate its business according to prudent industry practices so long as the use or presence of Hazardous Materials is strictly and properly monitored according to all then applicable Environmental
Requirements. As a material inducement to Landlord to allow Tenant to use Hazardous Materials in connection with its business, Tenant agrees to deliver to Landlord prior to the Commencement Date a list identifying each type of Hazardous Materials to
be brought upon, kept, used, stored, handled, treated, generated on, or released or disposed of from, the Premises and setting forth any and all governmental approvals or permits required in connection with the presence, use, storage, handling,
treatment, generation, release or disposal of such Hazardous Materials on or from the Premises (“Hazardous Materials List”). Tenant shall deliver to Landlord an updated Hazardous Materials List at least once a year and shall also
deliver an updated list before any new Hazardous Material is brought onto, kept, used, stored, handled, treated, generated on, or released or disposed of from, the Premises. Tenant shall deliver to Landlord true and correct copies of the following
documents (the “Haz Mat Documents”) relating to the use, storage, handling, treatment, generation, release or disposal of Hazardous Materials prior to the Commencement Date, or if unavailable at that time, concurrent with the
receipt from or submission to a Governmental Authority: permits; approvals; reports and correspondence; storage and management plans, notice of violations of any Legal Requirements; plans relating to the installation of any storage tanks to be
installed in or under the Project (provided, said installation of tanks shall only be permitted after Landlord has given Tenant its written consent to do so, which 
  
 

 

			
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consent may be withheld in Landlord’s sole and absolute discretion); all closure plans or any other documents required by any and all federal, state and
local Governmental Authorities for any storage tanks installed in, on or under the Project for the closure of any such tanks; and a Surrender Plan (to the extent surrender in accordance with Section 28 cannot be accomplished in 3
months). Tenant is not required, however, to provide Landlord with any portion(s) of the Haz Mat Documents containing information of a proprietary nature which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous
activities. It is not the intent of this Section to provide Landlord with information which could be detrimental to Tenant’s business should such information become possessed by Tenant’s competitors. 
 (c) Tenant Representation and Warranty. To the best of Tenant’s knowledge, Tenant hereby represents and warrants to Landlord that
(i) neither Tenant nor any of its legal predecessors has been required by any prior landlord, lender or Governmental Authority at any time to take remedial action in connection with Hazardous Materials contaminating a property which
contamination was permitted by Tenant of such predecessor or resulted from Tenant’s or such predecessor’s action or use of the property in question, and (ii) Tenant is not subject to any enforcement order issued by any Governmental
Authority in connection with the use, storage, handling, treatment, generation, release or disposal of Hazardous Materials (including, without limitation, any order related to the failure to make a required reporting to any Governmental Authority).
If Landlord determines that this representation and warranty was not true as of the date of this lease, Landlord shall have the right to terminate this Lease in Landlord’s sole and absolute discretion. 
 (d) Testing. Upon not less than 15 days advance written notice to Tenant, Landlord shall have the right to conduct annual tests of the Premises
(at its sole cost except as otherwise provided in this Section 30) to determine whether any contamination of the Premises or the Project has occurred as a result of Tenant’s use. Landlord shall use reasonable efforts to minimize
interference with Tenant’s business during such testing. Tenant shall be required to pay the cost of such annual test of the Premises if there is violation of this Section 30 or if contamination for which Tenant is responsible under
this Section 30 is identified; provided, however, that if Tenant conducts its own tests of the Premises using third party contractors and test procedures acceptable to Landlord which tests are certified to Landlord, Landlord shall accept
such tests in lieu of the annual tests to be paid for by Tenant. In addition, at any time, and from time to time, prior to the expiration or earlier termination of the Term, Landlord shall have the right to conduct appropriate tests of the Premises
and the Project to determine if contamination has occurred as a result of Tenant’s use of the Premises. In connection with such testing, upon the request of Landlord, Tenant shall deliver to Landlord or its consultant such non-proprietary
information concerning the use of Hazardous Materials in or about the Premises by Tenant or any Tenant Party. If contamination has occurred for which Tenant is liable under this Section 30, Tenant shall pay all costs to conduct such
tests. If no such contamination is found, Landlord shall pay the costs of such tests (which shall not constitute an Operating Expense). Landlord shall provide Tenant with a copy of all third party, non-confidential reports and tests of the Premises
made by or on behalf of Landlord during the Term without representation or warranty and subject to a confidentiality agreement. Tenant shall, at its sole cost and expense, promptly and satisfactorily remediate any environmental conditions which
Tenant is responsible for under this Lease and which are identified by such testing in accordance with all Environmental Requirements. Landlord’s receipt of or satisfaction with any environmental assessment in no way waives any rights which
Landlord may have against Tenant. 
 (e) Underground Tanks. If underground or other storage tanks storing Hazardous Materials located
on the Premises or the Project are used by Tenant or are hereafter placed on the Premises or the Project by Tenant, Tenant shall install, use, monitor, operate, maintain, upgrade and manage such storage tanks, maintain appropriate records, obtain
and maintain appropriate insurance, implement reporting procedures, properly close any underground storage tanks, and take or cause to be taken all other actions necessary or required under applicable state and federal Legal Requirements, as such
now exists or may hereafter be adopted or amended in connection with the installation, use, maintenance, management, operation, upgrading and closure of such storage tanks. 
  
 

 

			
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 (f) Tenant’s Obligations. Tenant’s obligations under this Section 30 shall
survive the expiration or earlier termination of the Lease. During any period of time after the expiration or earlier termination of this Lease required by Tenant or Landlord to complete the removal from the Premises of any Hazardous Materials
(including, without limitation, the release and termination of any licenses or permits restricting the use of the Premises and the completion of the approved Surrender Plan), Tenant shall continue to pay the full Rent in accordance with this Lease
for any portion of the Premises not relet by Landlord in Landlord’s good faith sole discretion, which Rent shall be prorated daily. Nothing contained in this Section 30(f) is intended to make Tenant responsible for removing any
Hazardous Materials which Tenant is not otherwise responsible for removing under this Lease. 
 (g) Definitions. As used herein, the
term “Environmental Requirements” means all applicable present and future statutes, regulations, ordinances, rules, codes, judgments, orders or other similar enactments of any Governmental Authority regulating or relating to health,
safety, or environmental conditions on, under, or about the Premises or the Project, or the environment, including without limitation, the following: the Comprehensive Environmental Response, Compensation and Liability Act; the Resource Conservation
and Recovery Act; and all state and local counterparts thereto, and any regulations or policies promulgated or issued thereunder. As used herein, the term “Hazardous Materials” means and includes any substance, material, waste,
pollutant, or contaminant listed or defined as hazardous or toxic, or regulated by reason of its impact or potential impact on humans, animals and/or the environment under any Environmental Requirements, asbestos and petroleum, including crude oil
or any fraction thereof, natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel (or mixtures of natural gas and such synthetic gas). As defined in Environmental Requirements, Tenant is and shall be deemed to be the
“operator” of Tenant’s “facility” and the “owner” of all Hazardous Materials brought on the Premises by Tenant or any Tenant Party, and the wastes, by-products, or residues generated,
resulting, or produced therefrom. 
 31. Tenant’s Remedies/Limitation of Liability. Landlord shall not be in default hereunder
unless Landlord fails to perform any of its obligations hereunder within 30 days after written notice from Tenant specifying such failure (unless such performance will, due to the nature of the obligation, require a period of time in excess of 30
days, then after such period of time as is reasonably necessary). Upon any default by Landlord, Tenant shall give notice by registered or certified mail to any Holder of a Mortgage covering the Premises and to any landlord of any lease of property
in or on which the Premises are located and Tenant shall offer such Holder and/or landlord a reasonable opportunity to cure the default, including time to obtain possession of the Project by power of sale or a judicial action if such should prove
necessary to effect a cure; provided Landlord shall have furnished to Tenant in writing the names and addresses of all such persons who are to receive such notices. All obligations of Landlord hereunder shall be construed as covenants, not
conditions; and, except as may be otherwise expressly provided in this Lease, Tenant may not terminate this Lease for breach of Landlord’s obligations hereunder. 
 Notwithstanding the foregoing, if any claimed Landlord default hereunder will immediately, materially and adversely affect Tenant’s ability to conduct its business in the Premises (a “Material Landlord
Default”), Tenant shall, as soon as reasonably possible, but in any event within 2 business days of obtaining knowledge of such claimed Material Landlord Default, give Landlord written notice of such claim which notice shall specifically
state that a Material Landlord Default exists and telephonic notice to Tenant’s principal contact with Landlord. Landlord shall then have 2 business days to commence cure of such claimed Material Landlord Default and shall diligently prosecute
such cure to completion. If such claimed Material Landlord Default is not a default by Landlord hereunder, or if Tenant failed to give Landlord the notice required hereunder within 2 business days of learning of the conditions giving rise to the
claimed Material Landlord Default, Landlord shall be entitled to recover from Tenant, as Additional Rent, any costs incurred by Landlord in connection with such cure in excess of the costs, if any, that Landlord would otherwise have been liable to
pay hereunder. If Landlord fails to commence cure of any claimed Material Landlord Default as provided above, Tenant may commence and prosecute such cure to completion, and shall be entitled to recover the costs of such cure (but not any
consequential or other damages) from Landlord by way of reimbursement from Landlord with no right to offset against Rent, to the extent of Landlord’s obligation to cure such claimed Material Landlord Default hereunder, subject to the
limitations set forth in the immediately preceding sentence of this paragraph and the other provisions of this Lease. 
  
 

 

			
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 All obligations of Landlord under this Lease will be binding upon Landlord only during the period of its
ownership of the Premises and Landlord shall not be responsible for obligations arising from and after the date of the transfer of Landlord’s interest in the Premises. The term “Landlord” in this Lease shall mean only the owner
for the time being of the Premises. Upon the transfer by such owner of its interest in the Premises and a written assumption by new owner of the obligations of Landlord arising hereunder from and after the date of such transfer, such owner shall
thereupon be released and discharged from all obligations of Landlord thereafter accruing, but such obligations shall be binding during the Term upon each new owner for the duration of such owner’s ownership. 
 32. Inspection and Access. If Landlord has received copies of Tenant’s reasonable security measures and written Good Manufacturing Practices
(GMP) laboratory protocols, Landlord shall endeavor to comply with the same when entering the Premises. Notwithstanding the foregoing, Landlord acknowledges and agrees that Tenant’s GMP protocols will prohibit the inspection of and access to
specific areas of the Premises during periods that GMP production is underway. Subject to Tenant’s right to have a representative present during any entries into the Premises, Landlord and its agents, representatives, and contractors may enter
the Premises at any reasonable time to inspect the Premises and to make such repairs as may be required or permitted pursuant to this Lease and for any other business purpose. Subject to Tenant’s right to have a representative present during
any entries into the Premises, Landlord and Landlord’s representatives may enter the Premises during business hours on not less than 48 hours advance written notice (except in the case of emergencies in which case no such notice shall be
required and such entry may be at any time) for the purpose of effecting any such repairs, inspecting the Premises, showing the Premises to prospective purchasers and, during the last year of the Term, to prospective tenants or for any other
business purpose. Landlord may erect a suitable sign on the Premises stating the Premises are available to let or that the Project is available for sale. Landlord may grant easements, make public dedications, designate Common Areas and create
restrictions on or about the Premises, provided that no such easement, dedication, designation or restriction materially, adversely affects Tenant’s use or occupancy of the Premises for the Permitted Use. At Landlord’s request,
Tenant shall execute such instruments as may be necessary for such easements, dedications or restrictions. Tenant shall at all times, except in the case of emergencies, have the right to escort Landlord or its agents, representatives, contractors or
guests while the same are in the Premises, provided such escort does not materially and adversely affect Landlord’s access rights hereunder. 
 Tenant, its employees, agents and invitees shall have access to the Premises twenty-four (24) hours a day, seven (7) days a week. Tenant shall have the right, at Tenant’s sole cost and expense, to install a building access
control system for the Building; provided, however, that Tenant provides Landlord with the means necessary for Landlord to access the Building in the case of an emergency. 
 33. Security. Tenant acknowledges and agrees that security devices and services, if any, while intended to deter crime may not in given instances
prevent theft or other criminal acts and that Landlord is not providing any security services with respect to the Premises. Tenant agrees that Landlord shall not be liable to Tenant for, and Tenant waives any claim against Landlord with respect to,
any loss by theft or any other damage suffered or incurred by Tenant in connection with any unauthorized entry into the Premises or any other breach of security with respect to the Premises. Tenant shall be solely responsible for the personal safety
of Tenant’s officers, employees, agents, contractors, guests and invitees while any such person is in, on or about the Premises and/or the Project. Tenant shall at Tenant’s cost obtain insurance coverage to the extent Tenant desires
protection against such criminal acts. 
 34. Force Majeure. Except for the payment of Rent, neither Landlord nor Tenant shall be held
responsible for delays in the performance of their obligations hereunder when caused by strikes, lockouts, labor disputes, weather, natural disasters, inability to obtain labor or materials or reasonable substitutes therefor, governmental
restrictions, governmental regulations, governmental controls, delay in issuance of permits, enemy or hostile governmental action, civil commotion, fire or other casualty, and other causes beyond their reasonable control (“Force
Majeure”). 
  
 

 

			
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 35. Brokers, Entire Agreement, Amendment. Landlord and Tenant each represents and warrants that it
has not dealt with any broker, agent or other person (collectively, “Broker”) in connection with this transaction and that no Broker brought about this transaction other than Colliers Pinkard and Advantis/GVA. Landlord and Tenant
acknowledge that Colliers Pinkard is representing Tenant in this transaction and Landlord has no obligation to pay any commission to Colliers Pinkard in connection with this transaction. Landlord shall, however, pay a commission to Advantis/GVA as
provided for in a separate written agreement entered into between Landlord and Advantis/GVA. Landlord and Tenant each hereby agree to indemnify and hold the other harmless from and against any claims by any Broker, other than the Advantis/GVA,
claiming a commission or other form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction. 
 36. Limitation on Landlord’s Liability. NOTWITHSTANDING ANYTHING SET FORTH HEREIN OR IN ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT TO THE CONTRARY: (A) LANDLORD SHALL NOT BE LIABLE TO TENANT OR
ANY OTHER PERSON FOR (AND TENANT AND EACH SUCH OTHER PERSON ASSUME ALL RISK OF) LOSS, DAMAGE OR INJURY, WHETHER ACTUAL OR CONSEQUENTIAL TO: TENANT’S PERSONAL PROPERTY OF EVERY KIND AND DESCRIPTION, INCLUDING, WITHOUT LIMITATION TRADE FIXTURES,
EQUIPMENT, INVENTORY, SCIENTIFIC RESEARCH, SCIENTIFIC EXPERIMENTS, LABORATORY ANIMALS, PRODUCT, SPECIMENS, SAMPLES, AND/OR SCIENTIFIC, BUSINESS, ACCOUNTING AND OTHER RECORDS OF EVERY KIND AND DESCRIPTION KEPT AT THE PREMISES AND ANY AND ALL INCOME
DERIVED OR DERIVABLE THEREFROM; (B) THERE SHALL BE NO PERSONAL RECOURSE TO LANDLORD FOR ANY ACT OR OCCURRENCE IN, ON OR ABOUT THE PREMISES OR ARISING IN ANY WAY UNDER THIS LEASE OR ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT WITH RESPECT TO
THE SUBJECT MATTER HEREOF AND ANY LIABILITY OF LANDLORD HEREUNDER SHALL BE STRICTLY LIMITED SOLELY TO LANDLORD’S INTEREST IN THE PROJECT OR ANY PROCEEDS FROM SALE OR CONDEMNATION THEREOF AND ANY INSURANCE PROCEEDS PAYABLE IN RESPECT OF
LANDLORD’S INTEREST IN THE PROJECT OR IN CONNECTION WITH ANY SUCH LOSS; AND (C) IN NO EVENT SHALL ANY PERSONAL LIABILITY BE ASSERTED AGAINST LANDLORD IN CONNECTION WITH THIS LEASE NOR SHALL ANY RECOURSE BE HAD TO ANY OTHER PROPERTY OR
ASSETS OF LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS. UNDER NO CIRCUMSTANCES SHALL LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS BE LIABLE FOR INJURY TO
TENANT’S BUSINESS OR FOR ANY LOSS OF INCOME OR PROFIT THEREFROM. 
 37. Severability. If any clause or provision of this Lease is
illegal, invalid or unenforceable under present or future laws, then and in that event, it is the intention of the parties hereto that the remainder of this Lease shall not be affected thereby. It is also the intention of the parties to this Lease
that in lieu of each clause or provision of this Lease that is illegal, invalid or unenforceable, there be added, as a part of this Lease, a clause or provision as similar in effect to such illegal, invalid or unenforceable clause or provision as
shall be legal, valid and enforceable. 
 38. Signs; Exterior Appearance. Tenant shall not, without the prior written consent of
Landlord, which may be granted or withheld in Landlord’s sole discretion: (i) attach any awnings, exterior lights, decorations, balloons, flags, pennants, banners, painting or other projection to any outside wall of the Project,
(ii) use any curtains, blinds, shades or screens other than Landlord’s standard window coverings, (iii) coat or otherwise sunscreen the interior or exterior of any windows, (iv) place any bottles, parcels, or other articles on
the window sills, (v) place any equipment, furniture or other items of personal property on any exterior balcony, or (vi) paint, affix or exhibit on any part of the Premises or the Project any signs, notices, window or door lettering,
placards, decorations, or advertising media of any type which can be viewed from the exterior of the Premises. Interior signs on doors and the 
  
 

 

			
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directory tablet shall be inscribed, painted or affixed for Tenant by Landlord at the sole cost and expense of Tenant, and shall be of a size, color and type
acceptable to Landlord. Nothing may be placed on the exterior of corridor walls or corridor doors other than Landlord’s standard lettering. The directory tablet shall be provided exclusively for the display of the name and location of tenants.

 Landlord shall, at Landlord’s sole cost and expense, (i) include Tenant’s name on the building monument sign
(“Monument Sign”), and (ii) provide Tenant with building standard suite and directory signage, all of which signage shall be consistent with Landlord’s signage program at the Project and applicable Legal Requirements.
Tenant shall be entitled, at Tenant’s sole cost and expense, to install 2 building signs with Tenant’s name (collectively, the “Building Sign”) on the exterior of the Building in locations approved in writing by Landlord.
The Monument Sign and the Building Sign (collectively, Tenant’s Signs”) including, without limitation, the size, color and type, shall be subject to Landlord’s prior written approval which shall not to be unreasonably withheld.
Tenant shall be solely responsible for all costs, fees, charges, expenses or other sums related to the Building Sign, including without limitation, costs related to manufacture and installation of the Building Sign and compliance with applicable
Legal Requirements and Landlord’s signage program at the Project. Tenant shall be solely responsible for the maintenance of all of Tenant’s Signs and the removal all of Tenant’s Signs at the expiration or earlier termination of this
Lease and repair all damage resulting from such removal. The signage rights granted to Tenant pursuant to this Section 38 are personal to Tenant any may not be assigned to any other party without Landlord’s consent, which may be
granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease, except that they may be assigned in connection with any Permitted Assignment of this
Lease. 
 39. Right of First Refusal. 
 (a) Expansion in the Project. If Landlord intends to accept a bona fide offer or otherwise agree (the “Pending Deal”) to lease all or any portion of the Available Space to any third party,
Landlord shall, so long as Tenant’s rights hereunder are preserved, deliver to Tenant written notice (the “Pending Deal Notice”) of the material terms of such Pending Deal. For purposes of this Section 39(a),
“Available Space” shall mean the approximately 10,000 rentable square feet in the building at the Project located at 7030 Kit Creek Road and which space is currently leased to A.M. Pappas & Associates, LLC. Within 5
business days after Tenant’s receipt of the Pending Deal Notice, Tenant shall deliver to Landlord written notice (the “Pending Deal Acceptance”) if Tenant elects to lease the Available Space described in the Pending Deal Notice
pursuant to the terms set forth in the Pending Deal Notice. Tenant’s right to receive the Pending Deal Notice and election to lease or not lease the Available Space pursuant to this Section 39 is hereinafter referred to as the
“Right of First Refusal.” If Tenant elects to lease the Available Space described in the Pending Deal Notice by delivering the Pending Deal Acceptance within the required 5 business day period, Tenant shall be deemed to agree to
lease the Available Space on Landlord’s standard form of office lease setting forth the terms for the rental of the Available Space consistent with those set forth in the Pending Deal Notice and which office lease is modified to the extent
practicable (bearing in mind that the Available Space will be leased for office use only) to include the negotiated changes in this Lease. Tenant’s failure to deliver a Pending Deal Acceptance to Landlord within the required 5 business day
period shall be deemed to be an election by Tenant not to exercise Tenant’s right to lease the Available Space in which case Landlord shall have the right to lease the Available Space to any third party on the same terms and conditions as those
specified in the Pending Deal Notice and Tenant shall have no further right to lease any of the Available Space. 
 (b) New Lease. If Landlord tenders to Tenant a lease on Landlord’s standard form of office lease setting forth the terms for the rental of the Available Space consistent with those set forth in the Pending
Deal Notice and which office lease is modified to the extent practicable (bearing in mind that the Available Space will be leased for office use only) to include the negotiated changes in this Lease and Tenant fails to execute such lease within 10
business days following such tender, Tenant shall be deemed to have waived its right to lease such Available Space. The 10 business day period provided for in the preceding sentence shall be extended 1 business for each day after the 3rd business day that Landlord fails to respond in writing to any written comments from Tenant concerning the new lease. 
  
 

 

			
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 (c) Exceptions. Notwithstanding the above, the Right of First Refusal shall not be in effect and
may not be exercised by Tenant: 
 (i) during any period of time that Tenant is in Default under any provision of the Lease;
or 
 (ii) if Tenant has been in Default under any provision of the Lease 3 or more times, whether or not the Defaults are
cured, during the 12 month period prior to the date on which Tenant seeks to exercise the Right of First Refusal. 
 (d) Termination.
The Right of First Refusal shall terminate and be of no further force or effect upon written notice from Landlord even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the commencement
date of the lease of such Available Space, (i) Tenant fails to timely cure any default by Tenant under the Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the date of the exercise of the Right of First Refusal to
the date of the commencement of the lease of the Available Space, whether or not such Defaults are cured. 
 (e) Subordinate.
Tenant’s rights in connection with the Right of First Refusal are and shall be subject to and subordinate to any extension rights with respect to the Available Space which Landlord may have previously or may hereafter grant to A.M.
Pappas & Associates, LLC. 
 (f) Rights Personal. Right of First Refusal are personal to Tenant and are not assignable
without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease. 
 (g) No Extensions. The period of time within which any Right of First Refusal may be exercised shall not be extended or enlarged by reason of
Tenant’s inability to exercise the Right of First Refusal. 
 40. Right to Extend Term. Tenant shall have the right to extend the
Term of the Lease upon the following terms and conditions: 
 (a) Extension Rights. Tenant shall have 2 consecutive rights (each, an
“Extension Right”) to extend the term of this Lease for 5 years each (an “Extension Term”) on the same terms and conditions as this Lease (other than Base Rent) by giving Landlord written notice of its election to
exercise each Extension Right at least 9 months prior, and no earlier than 12 months prior, to the expiration of the Base Term of the Lease or the expiration of any prior Extension Terms. 
 Upon the commencement of any Extension Term, Base Rent shall be payable at the Market Rate (as defined below). Base Rent shall thereafter be adjusted on
each annual anniversary of the commencement of such Extension Term by a percentage as determined by Landlord and agreed to by Tenant at the time the Market Rate is determined. As used herein, “Market Rate” shall mean the then market
rental rate as determined by Landlord and agreed to by Tenant for office/laboratory and bio-manufacturing premises comparable to the Premises and taking into consideration all economic factors that would reasonably affect a determination of Market
Rate including, without limitation, location, the existing tenant improvements and the quality and age of the Building; provided, however, in the case of the first Extension Term, in no event shall the Market Rate be less than the Base Rent payable
as of the date immediately preceding the commencement of such Extension Term increased by the Rent Adjustment Percentage multiplied by such Base Rent. In addition, Landlord may impose a market rent for the parking rights provided hereunder. If, on
or before the date which is 120 days prior to the expiration of the Base Term of this Lease, or the expiration of any prior Extension Term, Landlord and Tenant have not agreed on the Market Rate and the rent escalations during such Extension Term
after negotiating in good faith, the parties 
  
 

 

			
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shall be deemed to have elected arbitration as described in Section 40(b) below. Tenant acknowledges and agrees that, if Tenant has
elected to exercise an Extension Right by delivering notice to Landlord as required in this Section 40(a), Tenant shall have no right thereafter to rescind or elect not to extend the term of the Lease for the applicable Extension
Term. 
 (b) Arbitration. 
 (i) Within 10 days of Tenant’s notice to Landlord of its election (or the deemed election of the parties) to arbitrate Market Rate and escalations, each party shall deliver to the other a proposal containing the
Market Rate and escalations that the submitting party believes to be correct (“Extension Proposal”). If either party fails to timely submit an Extension Proposal, the other party’s submitted proposal shall determine the Base
Rent and escalations for the Extension Term. If both parties submit Extension Proposals, then Landlord and Tenant shall meet within 7 days after delivery of the last Extension Proposal and make a good faith attempt to mutually appoint a single
Arbitrator (and defined below) to determine the Market Rate and escalations. If Landlord and Tenant are unable to agree upon a single Arbitrator, then each shall, by written notice delivered to the other within 10 days after the meeting, select an
Arbitrator. If either party fails to timely give notice of its selection for an Arbitrator, the other party’s submitted proposal shall determine the Base Rent for the Extension Term. The 2 Arbitrators so appointed shall, within 5 business days
after their appointment, appoint a third Arbitrator. If the 2 Arbitrators so selected cannot agree on the selection of the third Arbitrator within the time above specified, then either party, on behalf of both parties, may request such appointment
of such third Arbitrator by application to any state court of general jurisdiction in the jurisdiction in which the Premises are located, upon 10 days prior written notice to the other party of such intent. 
 (ii) The decision of the Arbitrator(s) shall be made within 30 days after the appointment of a single Arbitrator or the third Arbitrator,
as applicable. The decision of the single Arbitrator shall be final and binding upon the parties. The average of the two closest Arbitrators in a three Arbitrator panel shall be final and binding upon the parties. Each party shall pay the fees and
expenses of the Arbitrator appointed by or on behalf of such party and the fees and expenses of the third Arbitrator shall be borne equally by both parties. If the Market Rate and escalations are not determined by the first day of the Extension
Term, then Tenant shall pay Landlord Base Rent in an amount equal to the Base Rent in effect immediately prior to the applicable Extension Term and increased by the Rent Adjustment Percentage until such determination is made. After the determination
of the Market Rate and escalations, the parties shall make any necessary adjustments to such payments made by Tenant. Landlord and Tenant shall then execute an amendment recognizing the Market Rate and escalations for the Extension Term. 

(iii) An “Arbitrator” shall be any person appointed by or on behalf of either party or appointed pursuant to the
provisions hereof and: (i) shall be (A) a member of the American Institute of Real Estate Appraisers with not less than 10 years of experience in the appraisal of improved office and high tech industrial real estate in the greater Research
Triangle Park area, or (B) a licensed commercial real estate broker with not less than 15 years experience representing landlords and/or tenants in the leasing of high tech or life sciences space in the greater Research Triangle Park area,
(ii) devoting substantially all of their time to professional appraisal or brokerage work, as applicable, at the time of appointment and (iii) be in all respects impartial and disinterested. 
 (c) Rights Personal. Extension Rights are personal to Tenant and are not assignable without Landlord’s consent, which may be granted or
withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease. 
  
 

 

			
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 (d) Exceptions. Notwithstanding anything set forth above to the contrary, Extension Rights shall
not be in effect and Tenant may not exercise any of the Extension Rights: 
 (i) during any period of time that Tenant is in
Default under any provision of this Lease; or 
 (ii) if Tenant has been in Default under any provision of this Lease 3 or
more times, whether or not the Defaults are cured, during the 12 month period immediately prior to the date that Tenant intends to exercise an Extension Right, whether or not the Defaults are cured. 
 (e) No Extensions. The period of time within which any Extension Rights may be exercised shall not be extended or enlarged by reason of
Tenant’s inability to exercise the Extension Rights. 
 (f) Termination. The Extension Rights shall terminate and be of no
further force or effect even after Tenant’s due and timely exercise of an Extension Right, if, after such exercise, but prior to the commencement date of an Extension Term, (i) Tenant fails to timely cure any default by Tenant under this
Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the date of the exercise of an Extension Right to the date of the commencement of the Extension Term, whether or not such Defaults are cured. 
 41. Roof Equipment. Subject to the provisions of this Lease, Tenant may, at its sole cost, install, maintain, and from time to time replace a
microwave, satellite dish or other communications antenna on the roof of the Building (collectively, “Roof Equipment”), at no additional rental expense to Tenant (other than reimbursing Landlord for any reasonable costs actually
incurred by Landlord in connection with the exercise by Tenant of any rights granted to Tenant under this Section 41); provided, however, that (i) Tenant shall obtain Landlord’s prior written approval with respect to the
installation of such Roof Equipment which approval shall not be unreasonably withheld, conditioned or delayed and shall include consideration all relevant factors including, without limitation, the proposed size, weight and location of the Roof
Equipment and method for fastening the same to the roof, (ii) Tenant shall, at its sole cost, comply with any reasonable requirements imposed by Landlord and all Legal Requirements and the conditions of any bond or warranty maintained by
Landlord on the roof, (iii) Tenant shall be responsible for paying for any structural upgrades that may be reasonably required by Landlord in connection with the Roof Equipment, and (iv) Tenant shall remove, at its expense, at the
expiration or earlier termination of this Lease, any Roof Equipment which Landlord requires to be removed as noted at the time Tenant requests Landlord’s consent therefor. Landlord shall have the right supervise any roof penetration. Tenant
shall repair any damage to the Building caused by Tenant’s installation, maintenance, replacement, use or removal of the Roof Equipment. Tenant shall remove any Roof Equipment at its cost upon expiration or termination of the Lease or sooner,
at the request of Landlord, if any of the same unreasonably interferes, as determined by Landlord, with the operation of any other tenant’s use of the Project. Tenant shall install, use, maintain and repair the Roof Equipment, and use the
access areas, so as not to damage or interfere with the operation of the Building. Tenant shall protect, defend, indemnify and hold harmless Landlord from and against claims, damages, liabilities, costs and expenses of every kind and nature,
including reasonable attorneys’ fees, incurred by or asserted against Landlord arising out of Tenant’s installation, maintenance, replacement, use or removal of the Roof Equipment. Tenant’s right to use the roof as contemplated in
this Section 41 is not exclusive and Tenant may not install any Roof Equipment on the roof which is not directly and solely related to Tenant’s operations at the Premises. Nothing contained in this Section 41 is intended
to preclude Tenant from installing equipment on the roof if the same constitutes part of the Tenant Improvements. 
 42. Temporary
Premises. 
 Commencing upon the Commencement Date and continuing until Tenant first conducts any business in the Premises, Landlord shall
lease to Tenant and Tenant shall lease from Landlord an office or offices, as determined by Landlord and reasonably approved by Tenant, sufficient to accommodate 3 people in either a portion of the Premises or in premises selected by Landlord in the
building 
  
 

 

			
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at the Project located at 7020 Kit Creek Road (in either such event, the “Temporary Premises”). Tenant acknowledges and agrees that all of
the terms and conditions of this Lease shall apply to the leasing of the Temporary Premises as if the Temporary Premises were the Premises, except that: (a) the term of the lease with respect to the Temporary Premises shall be as set forth in
the first sentence of this Section 42; (b) Tenant shall not be required to pay monthly Base Rent for the Temporary Premises but Tenant shall be required to pay Tenant’s Share of Operating Expenses for the Temporary Premises
based on the size of the Temporary Premises; (c) the amount of the Security Deposit shall be the amount of the Security Deposit required for the Premises; (d) Landlord shall not be required to make any improvements to the Temporary
Premises and Tenant shall accept the Temporary Premises in its “as is” condition; (e) notwithstanding anything to the contrary contained in Section 22, Tenant shall not have the right to sublease any portion of the
Temporary Premises or assign Tenant’s right to use the Temporary Premises this Lease, and (f) notwithstanding anything to the contrary contained in this Lease, Tenant shall only be permitted to use the Temporary Premises for office
purposes only and, except for Hazardous Materials contained in products customarily used by tenants in de minimis quantities for ordinary cleaning and office purposes, Tenant shall not permit or cause any party to bring any Hazardous Material upon
the Temporary Premises or use, store, handle, treat, generate, manufacture, transport, release or dispose of any Hazardous Material in, on or from the Premises. 
 Tenant shall surrender the Temporary Premises to Landlord in substantially the same condition as received, broom clean, ordinary wear and tear excepted. Tenant shall be entitled to remove all of Tenant’s personal
property from the Temporary Premises, including any signs, trade fixtures, equipment, furniture, etc., and shall be liable to Landlord for any damage to the Temporary Premises caused by Tenant during the removal of such property. 
 43. Miscellaneous. 
 (a)
Notices. All notices or other communications between the parties shall be in writing and shall be deemed duly given upon delivery or refusal to accept delivery by the addressee thereof if delivered in person, or upon actual receipt if
delivered by reputable overnight guaranty courier, addressed and sent to the parties at their addresses set forth above. Landlord and Tenant may from time to time by written notice to the other designate another address for receipt of future
notices. 
 (b) Joint and Several Liability. If and when included within the term “Tenant,” as used in this
instrument, there is more than one person or entity, each shall be jointly and severally liable for the obligations of Tenant. 
 (c)
Financial Information. Tenant shall furnish Landlord with true and complete copies of (i) Tenant’s most recent audited annual financial statements within 180 days of the end of each of Tenant’s fiscal years during the Term,
(ii) Tenant’s most recent unaudited quarterly financial statements within 45 days of the end of each of Tenant’s first three fiscal quarters of each of Tenant’s fiscal years during the Term, (iii) at Landlord’s request
from time to time, updated business plans, including cash flow projections and/or pro forma balance sheets and income statements, all of which shall be treated by Landlord as confidential information belonging to Tenant, (iv) corporate
brochures and/or profiles prepared by Tenant for prospective investors, and (v) any other financial information or summaries that Tenant typically provides to its lenders or shareholders. Tenant shall not be required to comply with the
provisions of this Section 43(c) during any period that the stock of Tenant is publicly traded. 
 (d) Recordation.
Neither this Lease nor a memorandum of lease shall be filed by or on behalf of Tenant in any public record, except for such filings that, on advice of counsel, are required by applicable Legal Requirements. Landlord may prepare and file, and upon
request by Landlord Tenant will execute, a memorandum of lease. Notwithstanding the foregoing, upon Tenant’s request and at Tenant’s sole cost and expense, Tenant shall prepare and file after execution by Landlord and Tenant a memorandum
of lease which memorandum shall contain only the following information and any other additional information that may be required by applicable 
  
 

 

			
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law: (i) the names of the parties to this Lease, (ii) description of the Premises and the Project, and (iii) the Term. If Tenant fails, after
receipt of written notice from Landlord, to promptly record a termination of the memorandum on the expiration or earlier termination of this Lease, Tenant shall be responsible for any damages suffered by Landlord (from any cause including, without
limitation, resulting from any indemnities or certifications which may be made by Landlord in favor of third parties). The provisions of this Section 43(d) shall survive the expiration or earlier termination of this Lease. 
 (e) Interpretation. The normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be
employed in the interpretation of this Lease or any exhibits or amendments hereto. Words of any gender used in this Lease shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural,
unless the context otherwise requires. The captions inserted in this Lease are for convenience only and in no way define, limit or otherwise describe the scope or intent of this Lease, or any provision hereof, or in any way affect the interpretation
of this Lease. 
 (f) Not Binding Until Executed. The submission by Landlord to Tenant of this Lease shall have no binding force or
effect, shall not constitute an option for the leasing of the Premises, nor confer any right or impose any obligations upon either party until execution of this Lease by both parties. 
 (g) Limitations on Interest. It is expressly the intent of Landlord and Tenant at all times to comply with applicable law governing the maximum
rate or amount of any interest payable on or in connection with this Lease. If applicable law is ever judicially interpreted so as to render usurious any interest called for under this Lease, or contracted for, charged, taken, reserved, or received
with respect to this Lease, then it is Landlord’s and Tenant’s express intent that all excess amounts theretofore collected by Landlord be credited on the applicable obligation (or, if the obligation has been or would thereby be paid in
full, refunded to Tenant), and the provisions of this Lease immediately shall be deemed reformed and the amounts thereafter collectible hereunder reduced, without the necessity of the execution of any new document, so as to comply with the
applicable law, but so as to permit the recovery of the fullest amount otherwise called for hereunder. 
 (h) Choice of Law.
Construction and interpretation of this Lease shall be governed by the internal laws of the state in which the Premises are located, excluding any principles of conflicts of laws. 
 (i) Time. Time is of the essence as to the performance of Tenant’s obligations under this Lease. 
 (j) Incorporation by Reference. All exhibits and addenda attached hereto are hereby incorporated into this Lease and made a part hereof. If there
is any conflict between such exhibits or addenda and the terms of this Lease, such exhibits or addenda shall control. 
 (k) Hazardous
Activities. Notwithstanding any other provision of this Lease, Landlord, for itself and its employees, agents and contractors, reserves the right to refuse to perform any repairs or services in any portion of the Premises which, pursuant to
Tenant’s routine safety guidelines, practices or custom or prudent industry practices, require any form of protective clothing or equipment other than safety glasses. In any such case, Tenant shall contract with parties who are acceptable to
Landlord, in Landlord’s reasonable discretion, for all such repairs and services, and Landlord shall, to the extent required, equitably adjust Tenant’s Share of Operating Expenses in respect of such repairs or services to reflect that
Landlord is not providing such repairs or services to Tenant. 
 (l) Landlord Lien Waiver. If Tenant shall lease or finance the
acquisition of any specifically enumerated equipment/personal property not paid for in whole or in part by Landlord which Tenant is permitted under this Lease to remove at the expiration or earlier termination of this Lease, Landlord shall, upon
written request from Tenant, enter into an agreement, utilizing Landlord’s standard form of lien waiver or another form acceptable to Landlord in its sole discretion, with Tenant and Tenant’s lender which agreement shall, among other
things, govern the parties’ rights with respect to such specifically enumerated equipment/personal property. 
 [ Signatures on next
page ] 
  
 

 

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

							
	TENANT:
	
	 BIOLEX, INC.,
 a Delaware corporation

		
	By:	 	  

	Its:	 	  

	
	LANDLORD:
	
	 ARE-7030 KIT CREEK, LLC,
 a Delaware
limited liability company

		
	By:	 	 Alexandria Real Estate Equities, L.P.,
 a Delaware limited partnership, managing member

			
		 	By:	 	 ARE-QRS CORP.,
 a Maryland corporation,
general partner

				
		 		 	By:	 	  

		 		 	Its:	 	  

  
 

 

			
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 EXHIBIT A TO LEASE 
 DESCRIPTION OF PREMISES 
  
 

 

			
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 EXHIBIT B TO LEASE 
 DESCRIPTION OF PROJECT 
  
 

 

			
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 EXHIBIT C TO LEASE 
 [Tenant Build] 
 WORK LETTER 
 THIS WORK LETTER dated December 22, 2005 (this “Work Letter”) is made and entered into by ARE-7030 KIT CREEK, LLC, a
Delaware limited liability company (“Landlord”), and BIOLEX, INC., a Delaware corporation (“Tenant”), and is attached to and made a part of the Lease dated December 22, 2005 (the
“Lease”), by and between Landlord and Tenant. Any initially capitalized terms used but not defined herein shall have the meanings given them in the Lease. 
 1. General Requirements. 
 (a)
Tenant’s Authorized Representative. Tenant designates Dale Sander (“Tenant’s Representative”) as the only persons authorized to act for Tenant pursuant to this Work Letter. Landlord shall not be obligated to respond
to or act upon any request, approval, inquiry or other communication (“Communication”) from or on behalf of Tenant in connection with this Work Letter unless such Communication is in writing from Tenant’s Representative. Tenant
may change either Tenant’s Representative at any time upon not less than 2 business days advance written notice to Landlord. No period set forth herein for any approval of any matter by Tenant’s Representative shall be extended by reason
of any change in Tenant’s Representative. 
 (b) Landlord’s Authorized Representative. Landlord designates Oliver Sherrill
and Vin Ciruzzi (either such individual acting alone, “Landlord’s Representative”) as the only persons authorized to act for Landlord pursuant to this Work Letter. Tenant shall not be obligated to respond to or act upon any
request, approval, inquiry or other Communication from or on behalf of Landlord in connection with this Work Letter unless such Communication is in writing from Landlord’s Representative. Landlord may change either Landlord’s
Representative at any time upon not less than 2 business days advance written notice to Tenant. No period set forth herein for any approval of any matter by Landlord’s Representative shall be extended by reason of any change in Landlord’s
Representative. 
 (c) Architects, Consultants and Contractors. Landlord and Tenant hereby acknowledge and agree that the architect
(the “TI Architect”) for the Tenant Improvements, the general contractor and any subcontractors for the Tenant Improvements shall be selected by Tenant, subject to Landlord’s approval, which approval shall not be unreasonably
withheld, conditioned or delayed. Tenant further acknowledges and agrees that all contracts related to the TI Improvements are subject to Landlord’s reasonable review and approval. 
 2. Tenant Improvements. 
 (a)
Tenant Improvements Defined. As used herein, “Tenant Improvements” shall mean all improvements to the Premises desired by Tenant of a fixed and permanent nature and which improvements are approved by Landlord. Other than
funding the TI Allowance as provided herein, Landlord shall not have any obligation whatsoever with respect to the finishing of the Premises for Tenant’s use and occupancy. 
 (b) Tenant’s Space Plans. Tenant shall deliver to Landlord schematic drawings and outline specifications (the “TI Design
Drawings”) detailing Tenant’s requirements for the Tenant Improvements within 10 business days of the date hereof. Not more than ten 10 business days thereafter, Landlord shall deliver to Tenant the written objections, questions or
comments of Landlord and the TI Architect with regard to the TI Design Drawings. Tenant shall cause the TI Design Drawings to be revised to reasonably address such written comments and shall resubmit said drawings to Landlord for approval within 10
business days thereafter. Such process shall continue until Landlord has approved the TI Design Drawings. 
  
 

 

			
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 (c) Working Drawings. Not later than 45 business days following the approval of the TI Design
Drawings by Landlord, Tenant shall cause the TI Architect to prepare and deliver to Landlord for review and comment construction plans, specifications and drawings for the Tenant Improvements (“TI Construction Drawings”), which TI
Construction Drawings shall be prepared substantially in accordance with the TI Design Drawings. Tenant shall be solely responsible for ensuring that the TI Construction Drawings reflect Tenant’s requirements for the Tenant Improvements.
Landlord shall deliver its written comments on the TI Construction Drawings to Tenant not later than 10 business days after Landlord’s receipt of the same; provided, however, that Landlord may not disapprove any matter that is consistent with
the TI Design Drawings. Tenant and the TI Architect shall consider all such comments in good faith and shall, within 10 business days after receipt, notify Landlord how Tenant proposes to respond to such comments. Any disputes in connection with
such comments shall be resolved in accordance with Section 2(d) hereof. Provided that the design reflected in the TI Construction Drawings is consistent with the TI Design Drawings, Landlord shall approve the TI Construction Drawings
submitted by Tenant. Once approved by Landlord, subject to the provisions of Section 2(d) below, Tenant shall not materially modify the TI Construction Drawings except as may be reasonably required in connection with the issuance of the
TI Permit (as defined in Section 3(b) below). 
 (d) Approval and Completion. Upon any dispute regarding the design of the
Tenant Improvements, which is not settled within 10 business days after notice of such dispute is delivered by one party to the other, Tenant shall make the final decision regarding the design of the Tenant Improvements, provided Tenant acts
reasonably and such final decision is either consistent with or a compromise between Landlord’s and Tenant’s positions with respect to such dispute, provided further that all costs and expenses resulting from any such decision by Tenant
shall be payable out of the TI Fund (as defined in Section 5(d) below). Any changes to the TI Construction Drawings following Landlord’s and Tenant’s approval of same requested by Tenant shall be processed as provided in
Section 4 hereof. 
 3. Performance of Tenant’s Work. 
 (a) Definition of Tenant’s Work. As used herein, “Tenant’s Work” shall mean the work of constructing the Tenant
Improvements. 
 (b) Commencement and Permitting of Tenant’s Work. Tenant shall commence construction of the Tenant Improvements
upon obtaining a building permit (the “TI Permit”) authorizing the construction of the Tenant Improvements consistent with the TI Construction Drawings approved by Landlord. The cost of obtaining the TI Permit shall be payable from
the TI Fund. Landlord shall assist Tenant in obtaining the TI Permit. 
 (c) Selection of Materials, Etc. Where more than one type of
material or structure is indicated on the TI Construction Drawings approved by Tenant and Landlord, the option will be within Tenant’s reasonable discretion. 
 4. Changes. Any changes requested by Tenant to the Tenant Improvements after the delivery and approval by Landlord of the TI Design Drawings, shall be requested and instituted in accordance with the provisions
of this Section 4 and shall be subject to the written approval of Landlord, such approval not to be unreasonably withheld, conditioned or delayed. 
 (a) Tenant’s Right to Request Changes. If Tenant shall request changes (“Changes”), Tenant shall request such Changes by notifying Landlord in writing in substantially the same form as the
AIA standard change order form (a “Change Request”), which Change Request shall detail the nature and extent of any such Change. Such Change Request must be signed by Tenant’s Representative. Landlord shall review and approve
or disapprove such Change Request within 10 business days thereafter, provided that Landlord’s approval shall not be unreasonably withheld, conditioned or delayed. 
  

 

 

			
	Rules and Regulations	 	7010 Kit Creek/Biolex - Page 3

  

 (b) Implementation of Changes. If Landlord approves such Change and Tenant deposits with Landlord
any Excess TI Costs (as defined in Section 5(d) below) required in connection with such Change, Tenant may cause the approved Change to be instituted. 
 5. Costs. 
 (a) Budget For Tenant Improvements. Before the commencement of construction of the
Tenant Improvements, Tenant shall obtain a detailed breakdown, by trade, of the costs incurred or which will be incurred, in connection with the design and construction of Tenant’s Work (the “Budget”). The Budget shall be based
upon the TI Construction Drawings approved by Landlord and shall include a payment to Landlord of administrative rent (“Administrative Rent”) equal to 3% of the TI Costs (as hereinafter defined) for monitoring and inspecting the
construction of Tenant’s Work, which sum shall be payable from the TI Fund. Such Administrative Rent shall include, without limitation, all out-of-pocket costs, expenses and fees incurred by or on behalf of Landlord arising from, out of, or in
connection with, such monitoring of the construction of the Tenant Improvements, and shall be payable out of the TI Fund. If the Budget is greater than the TI Allowance, Tenant shall deposit with Landlord the difference, in cash, prior to the
commencement of construction of the Tenant Improvements, for disbursement by Landlord as described in Section 5(d). 
 (b) TI
Allowance. The TI Allowance shall be disbursed in accordance with this Work Letter and, if Tenant elects to construct additional Tenant Improvements which are to be paid for out of the TI Allowance, pursuant to a new Work Letter consistent with
the terms and conditions set forth in this Work Letter. Tenant shall have no right to the use or benefit (including any reduction to Base Rent) of any portion of the TI Allowance not required for the construction of (i) the Tenant Improvements
described in the TI Construction Drawings approved pursuant to Section 2(d) or (ii) any Changes pursuant to Section 4. 
 (c) Costs Includable in TI Fund. The TI Fund shall be used solely for the payment of design and construction costs in connection with the construction of the Tenant Improvements, including, without limitation,
the cost of preparing the TI Design Drawings and the TI Construction Drawings, all costs set forth in the Budget, including Landlord’s Administrative Rent, and the cost of Changes (collectively, “TI Costs”). Notwithstanding
anything to the contrary contained herein, the TI Fund shall not be used to purchase any furniture, personal property or other non-Building System materials or equipment, including, but not be limited to, biological safety cabinets and other
scientific equipment not incorporated into the Improvements. 
 (d) Excess TI Costs. It is understood and agreed that Landlord is
under no obligation to bear any portion of the cost of any of the Tenant Improvements except to the extent of the TI Allowance. If at any time and from time-to-time, the remaining TI Costs under the Budget exceed the remaining unexpended TI
Allowance, Tenant shall deposit with Landlord, as a condition precedent to Landlord’s obligation to disburse the TI Allowance, 100% of the then current TI Cost in excess of the remaining TI Allowance (“Excess TI Costs”). If
Tenant fails to deposit, or is late in depositing, any Excess TI Costs with Landlord, Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the
Default Rate and the right to assess a late charge), and for purposes of any litigation instituted with regard to such amounts the same will be considered Rent. Such Excess TI Costs, together with the remaining TI Allowance, is herein referred to as
the “TI Fund.” Funds so deposited by Tenant shall be the first thereafter disbursed to pay TI Costs. Notwithstanding anything to the contrary set forth in this Section 5(d), Tenant shall be fully and solely liable for TI
Costs in excess of the TI Allowance. If upon Substantial Completion of the Tenant Improvements and the payment of all sums due in connection therewith there remains any undisbursed TI Fund, Tenant shall be entitled to such undisbursed TI Fund solely
to the extent of any Excess TI Costs deposit Tenant has actually made with Landlord. 
  
 

 

			
	Rules and Regulations	 	7010 Kit Creek/Biolex - Page 4

  

 (e) Payment for TI Costs. Landlord shall pay TI Costs once a month against a draw request in
Landlord’s standard form, containing such certifications, lien waivers, inspection reports and other matters as Landlord customarily obtains, to the extent of Landlord’s approval thereof for payment, no later than 30 days following receipt
of such draw request. Upon completion of the Tenant Improvements, Tenant shall deliver to Landlord: (i) sworn statements setting forth the names of all contractors and subcontractors who did the work and final lien waivers from all such
contractors and subcontractors; and (ii) “as built” plans for such Tenant Improvements. 
 6. Miscellaneous.

 (a) Consents. Whenever consent or approval of either party is required under this Work Letter, that party shall not unreasonably
withhold, condition or delay such consent or approval, except as may be expressly set forth herein to the contrary. 
 (b) Modification.
No modification, waiver or amendment of this Work Letter or of any of its conditions or provisions shall be binding upon Landlord or Tenant unless in writing signed by Landlord and Tenant. 
 (c) Counterparts. This Work Letter may be executed in any number of counterparts but all counterparts taken together shall constitute a single
document. 
 (d) Governing Law. This Work Letter shall be governed by, construed and enforced in accordance with the internal laws of
the state in which the Premises are located, without regard to choice of law principles of such State. 
 (e) Time of the Essence.
Time is of the essence of this Work Letter and of each and all provisions thereof. 
 (f) Default. Notwithstanding anything set
forth herein or in the Lease to the contrary, Landlord shall not have any obligation to perform any work hereunder or to fund any portion of the TI Fund during any period Tenant is in Default under the Lease. 
 (g) Severability. If any term or provision of this Work Letter is declared invalid or unenforceable, the remainder of this Work Letter shall not
be affected by such determination and shall continue to be valid and enforceable. 
 (h) Merger. All understandings and agreements,
oral or written, heretofore made between the parties hereto and relating to Tenant’s Work are merged in this Work Letter, which alone (but inclusive of provisions of the Lease incorporated herein and the final approved constructions drawings
and specifications prepared pursuant hereto) fully and completely expresses the agreement between Landlord and Tenant with regard to the matters set forth in this Work Letter. 
 (i) Entire Agreement. This Work Letter is made as a part of and pursuant to the Lease and, together with the Lease, constitutes the entire
agreement of the parties with respect to the subject matter hereof. This Work Letter is subject to all of the terms and limitation set forth in the Lease, and neither party shall have any rights or remedies under this Work Letter separate and apart
from their respective remedies pursuant to the Lease. 
 [ Signatures on next page ] 
  
 

 

			
	Rules and Regulations	 	7010 Kit Creek/Biolex - Page 5

  

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

			
	TENANT:
	
	 BIOLEX, INC.,
 a Delaware
corporation

		
	By:	 	  

	Its:	 	  

	
	LANDLORD:
	
	 ARE-7030 KIT CREEK, LLC,
 a
Delaware limited liability company

		
	By:	 	Alexandria Real Estate Equities, L.P.,
		 	a Delaware limited partnership, managing member

					
			
		 	By:	 	 ARE-QRS CORP.,
 a Maryland Corporation, general
partner

									
					
		 		 		 	By:	 	  

		 		 		 	Its:	 	  

  
 

 

			
	Rules and Regulations	 	7010 Kit Creek/Biolex - Page 1

  

 EXHIBIT D TO LEASE 
 ACKNOWLEDGMENT OF COMMENCEMENT DATE 
 This ACKNOWLEDGMENT OF COMMENCEMENT DATE is made this
     day of                     ,
                            , between ARE-7030 KIT CREEK, LLC, a Delaware limited liability
company (“Landlord”), and BIOLEX, INC., a Delaware corporation (“Tenant”), and is attached to and made a part of the Lease dated
                    , 2005 (the “Lease”), by and between Landlord and Tenant. Any initially capitalized terms used but not
defined herein shall have the meanings given them in the Lease. 
 Landlord and Tenant hereby acknowledge and agree that the Commencement
Date of the Base Term of the Lease is                     ,
                    , the Rent Commencement Date is
                    ,
                    , and, subject to extension of the Base Term as provided for in the Lease, the termination date of the Base Term of the
Lease shall be midnight on                     ,
                    . 
 IN
WITNESS WHEREOF, Landlord and Tenant have executed this ACKNOWLEDGMENT OF COMMENCEMENT DATE to be effective on the date first above written. 
  

			
	TENANT:
	
	 BIOLEX, INC.,
 a Delaware
corporation

		
	By:	 	  

	Its:	 	  

	
	LANDLORD:
	
	 ARE-7030 KIT CREEK, LLC,
 a
Delaware limited liability company

		
	By:	 	Alexandria Real Estate Equities, L.P.,
		 	a Delaware limited partnership, managing member

					
			
		 	By:	 	ARE-QRS CORP.,
		 		 	a Maryland Corporation, general partner

									
					
		 		 	By:	 		 	  

		 		 	Its:	 		 	  

  
 

 

			
	Rules and Regulations	 	7010 Kit Creek/Biolex - Page 1

  

 EXHIBIT E TO LEASE 
 Rules and Regulations 
 1. The sidewalk, entries, and driveways of the Project shall not be
obstructed by Tenant, or any Tenant Party, or used by them for any purpose other than ingress and egress to and from the Premises. 
 2.
Tenant shall not place any objects, including antennas, outdoor furniture, etc., in the parking areas, landscaped areas or other areas outside of its Premises, or on the roof of the Project. 
 3. Except for animals assisting the disabled, no animals shall be allowed in the offices, halls, or corridors in the Project. 
 4. Tenant shall not disturb the occupants of the Project or adjoining buildings by the use of any radio or musical instrument or by the making of loud or
improper noises. 
 5. If Tenant desires telegraphic, telephonic or other electric connections in the Premises, Landlord or its agent will
direct the electrician as to where and how the wires may be introduced; and, without such direction, no boring or cutting of wires will be permitted. Any such installation or connection shall be made at Tenant’s expense. 
 6. Tenant shall not install or operate any steam or gas engine or boiler, or other mechanical apparatus in the Premises, except as specifically approved
in the Lease and/or as specified in the Tenant Improvements. The use of oil, gas or inflammable liquids for heating, lighting or any other purpose is expressly prohibited. Explosives or other articles deemed extra hazardous shall not be brought into
the Project. 
 7. Parking any type of recreational vehicles is specifically prohibited on or about the Project. Except for the overnight
parking of operative vehicles, no vehicle of any type shall be stored in the parking areas at any time. In the event that a vehicle is disabled, it shall be removed within 48 hours. There shall be no “For Sale” or other advertising signs
on or about any parked vehicle. All vehicles shall be parked in the designated parking areas in conformity with all signs and other markings. All parking will be open parking, and no reserved parking, numbering or lettering of individual spaces will
be permitted except as specified by Landlord. 
 8. Tenant shall take reasonable measures to maintain the Premises free from rodents, insects
and other pests. 
 9. Landlord reserves the right to exclude or expel from the Project any person who, in the reasonable judgment of
Landlord, is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of the Rules and Regulations of the Project. 
 10. Tenant shall not cause any unnecessary labor by reason of Tenant’s carelessness or indifference in the preservation of good order and cleanliness. Landlord shall not be responsible to Tenant for any loss of
property on the Premises, however occurring, or for any damage done to the effects of Tenant by the janitors or any other employee or person. 
 11. Tenant shall give Landlord prompt notice of any known defects in the water, lawn sprinkler, sewage, gas pipes, electrical lights and fixtures, heating apparatus, or any other service equipment affecting the Premises. 
  
 

 

			
	Rules and Regulations	 	7010 Kit Creek/Biolex - Page 2

  

 12. Tenant shall not permit storage outside the Premises, including without limitation, outside storage
of trucks and other vehicles, or dumping of waste or refuse or permit any harmful materials to be placed in any drainage system or sanitary system in or about the Premises. 
 13. All moveable trash receptacles provided by the trash disposal firm for the Premises must be kept in the trash enclosure areas, if any, provided for
that purpose. 
 14. No auction, public or private, will be permitted on the Premises or the Project. 
 15. No awnings shall be placed over the windows in the Premises except with the prior written consent of Landlord. 
 16. The Premises shall not be used for lodging, sleeping or cooking (other than by microwave) or for any immoral or illegal purposes or for any purpose
other than that specified in the Lease. No gaming devices shall be operated in the Premises. 
 17. Tenant shall ascertain from Landlord the
maximum amount of electrical current which can safely be used in the Premises, taking into account the capacity of the electrical wiring in the Project and the Premises and the needs of other tenants, and shall not use more than such safe capacity.
Landlord’s consent to the installation of electric equipment shall not relieve Tenant from the obligation not to use more electricity than such safe capacity. 
 18. Tenant assumes full responsibility for protecting the Premises from theft, robbery and pilferage. 
 19.
Tenant shall not install or operate on the Premises any machinery or mechanical devices of a nature not directly related to Tenant’s ordinary use of the Premises and shall keep all such machinery reasonably free of vibration, noise and air
waves which may be transmitted beyond the Premises. 
  
 

 

			
	Rules and Regulations	 	7010 Kit Creek/Biolex - Page 1

  

 EXHIBIT F TO LEASE 
 TENANT’S PERSONAL PROPERTY 
 None except as set forth below: 
  
 

 

			
	Net Multi-Tenant Laboratory	 	7010 Kit Creek/Biolex - Page 1

  

 EXHIBIT G TO LEASE 
 LIST OF REPORTS 
 Phase I prepared by Environ dated 8/9/00 
 Mold Abatement prepared by Environ dated 6/9/03 
 Mold Remediation Reports
all prepared by Environ: Room 111W dated 9/22/03; Room 109W dated 11/13/03; Room 2-132W dated 9/8/03; Room 114 W dated 9/8/03; Room 112W dated 9/11/03; Room 2-215E dated 9/10/03; Room 120 W dated 9/10/03; Room dated 9/9/03; Room 107W dated9/9/03;
and Area 113W dated 9/9/03 
 Mold Investigation & Remediation Reports all prepared by Environ: Room 2-13W dated 11/11/03; Room 2-210E dated
11/11/03; and Room 2-103W dated 11/11/03 
 Indoor Air Quality Report prepared by Environ dated 10/28/03 
 Indoor Air Biological Allergen Survey prepared by Environ dated 10/29/04 
 Water Intrusion and Fungal Growth Survey prepared by Environ dated 12/1/04

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