Document:

Exhibit 10.1

 

SECOND AMENDMENT TO LEASE

 

1.             PARTIES

 

1.1           THIS AGREEMENT made the 5th day of July, 2011 is by and between 101 HUDSON STREET ASSOCIATES (“Landlord”) whose address is c/o Mack-Cali Realty Corporation, 343 Thornall Street, P.O. Box 7817, Edison, New Jersey 08818-7817 and OPTIMER PHARMACEUTICALS, INC. (“Tenant”) whose address is 10110 Sorrento Valley Road, Suite C, San Diego, California 92121.

 

2.             STATEMENT OF FACTS

 

2.1           Landlord and Tenant have previously entered into a Lease dated February 9, 2011, as amended by a First Amendment to Lease dated May 4, 2011 (collectively, the “Lease”) covering 14,196 gross rentable square feet on the thirty-fifth (35th) floor (hereinafter referred to as the “Premises”) in the building located at 101 Hudson Street, Jersey City, New Jersey (“Building”); and

 

2.2           The parties desire to amend certain terms of the Lease as set forth below.

 

3.             AGREEMENT

 

NOW, THEREFORE, in consideration of the terms, covenants and conditions hereinafter set forth, Landlord and Tenant agree as follows:

 

3.1           The above recitals are incorporated herein by reference.

 

3.2           All capitalized and non-capitalized terms used in this Agreement which are not separately defined herein but are defined in the Lease shall have the meaning given to any such term in the Lease.

 

3.3           TEMPORARY CONFERENCE ROOM:

 

On the date of this Agreement (the “Temporary Conference Room Delivery Date”), Landlord shall deliver to Tenant and shall permit Tenant to utilize additional space on the thirty-ninth (39th) floor of the Building consisting of approximately 605 rentable square feet, as shown on Exhibit A attached hereto and made part hereof (the “Temporary Conference Room”), for the use set forth in the Lease until the date upon which Landlord has completed the work in Tenant’s permanent conference room located within the Premises (the “Temporary Conference Room Expiration Date”).  If Tenant fails to vacate and surrender and discontinue the use of the Temporary Conference Room on the Temporary Conference Room Expiration Date, Tenant shall be deemed a holdover tenant in the Temporary Conference Room and the provisions of Section 28.02 of the Lease shall govern, mutatis  mutandis. From the date hereof until the date Tenant vacates the Temporary Conference Room, the Temporary Conference Room shall be deemed part of the Premises for purposes of the obligations of the parties with respect thereto, except as set forth herein.  In connection with Tenant’s occupancy of the Temporary Conference Room, the parties hereby agree as follows:

 

a.             Tenant shall be required to pay “Temporary Conference Room Rent,” as that term is defined herein, from and after the date hereof.

 

b.             Landlord shall deliver the Temporary Conference Room to Tenant in its “As-Is” condition. Any and all alterations and improvements to be made by Tenant to the Temporary Conference Room shall be subject to Landlord’s prior written consent.

 

c.             Tenant will pay a rental (which shall be deemed additional rent under the Lease) for the Temporary Conference Room in the amount of $600.00 per month (the “Temporary Conference Room Rent”), equitably 

 

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prorated for partial months.  Except for the Temporary Conference Room Rent, Tenant shall have no other obligation to make any payment of rent or additional rent to Landlord of any nature, except as set forth herein.  As such, Tenant shall not be responsible for Tenant’s Share of Taxes and Tenant’s Share of Operating Costs with respect to the Temporary Conference Room.

 

d.             Tenant covenants and agrees to pay to Landlord the cost of electricity as indicated by a submeter for the entire thirty-ninth (39th) floor in accordance with Article 4 of the Lease.

 

e.             Tenant covenants and agrees to pay to Landlord the amount for Chilled Water as indicated by a submeter measuring the demand for, and consumption of, Chilled Water for the entire thirty-ninth (39th) floor, pursuant to Section 21.04 of the Lease.

 

f.              Landlord, at Tenant’s sole cost and expense, shall perform cleaning and janitorial services pursuant to Exhibit E of the Lease.

 

g.             Tenant shall remove all personal property, telephone and data equipment and wiring from the Temporary Conference Room upon vacating same.

 

h.             It is understood that the Temporary Conference Room is part of a larger unit of space (“Larger Unit”) consisting of approximately 24,179 gross rentable square feet. However, Tenant shall not be required to pay Basic Annual Rent or additional rent applicable to the Larger Unit, except that Tenant shall pay Landlord the cost of Electricity consumed within the Larger Unit in accordance with Article 4 of the Lease (Electricity). Tenant acknowledges that Landlord shall not be obligated to separately demise the Temporary Conference Room from the Larger Unit and that, until such time as Landlord separately demises the Temporary Conference Room, Tenant shall be obligated to carry insurance and to indemnify Landlord under the Lease with respect to the Larger Unit.  With respect to the Larger Unit, Tenant shall have no rights, benefits, entitlements, options or privileges, except that if necessary Tenant may traverse through the Larger Unit only to the extent necessary (and for no other purpose) to enter in and exit from the Temporary Conference Room.  Tenant shall commit no waste in, and shall do nothing to damage, the Larger Unit.  Landlord shall have the right, at any time, in its sole discretion, to erect, at Landlord’s expense, demising walls around the Temporary Conference Room, separate mechanical systems or do such other work as may be necessary to separate the Temporary Conference Room from the Larger Unit (the “Demising Work”).  Tenant agrees that, subject to the prior sentence, any performance by Landlord of the Demising Work shall not constitute an eviction or otherwise entitle Tenant to any abatement, reduction or modification of the basic annual rent or additional rent due under the Lease.  Tenant shall at its expense reasonably cooperate with Landlord during the performance of the Demising Work by relocating all furniture, fixtures and personnel as necessary.

 

i.             All monies payable by Tenant under this Agreement shall be deemed additional rent under the Lease. Such monies shall be paid together with and in the same manner as the Basic Annual Rent under the Lease.

 

j.              Either party shall have the right to terminate Tenant’s rights pursuant to this Paragraph 3.3 upon thirty (30) days written notice to the other party for any reason or no reason whatsoever. In the event either party exercises such right, Tenant shall vacate and surrender and discontinue to the use of the Temporary Conference Room and Larger Unit. If Tenant fails to vacate and surrender and discontinue the use of the Temporary Conference Room and Larger Unit, Tenant shall be deemed a holdover tenant in the Temporary Conference Room and Larger Unit and 

 

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the provisions of Section 28.02 of the Lease shall govern, mutatis  mutandis.

 

3.4           Tenant hereby represents to Landlord that (i) there exists no default under the Lease either by Tenant or Landlord; (ii) Tenant is entitled to no credit, free rent or other offset or abatement of the rents due under the Lease; and (iii) there exists no offset, defense or counterclaim to Tenant’s obligation under the Lease.

 

3.5           Tenant represents to Landlord that no broker brought about this transaction and agrees to indemnify and hold Landlord harmless from any and all claims of any broker arising out of or in connection with negotiations of, or entering into of, this Agreement.

 

3.6           Except as expressly amended herein, the Lease, as amended, shall remain in full force and effect as if the same had been set forth in full herein, and Landlord and Tenant hereby ratify and confirm all of the terms and conditions thereof.

 

3.7           Tenant agrees not to disclose the terms, covenants, conditions or other facts with respect to this Agreement, including the Basic Annual Rent and Additional Rent, to any person, corporation, partnership, association, newspaper, periodical or other entity, except to Tenant’s accountants or attorneys (who shall also be required to keep the terms of this Agreement confidential) or as required by law.  This non-disclosure and confidentiality agreement will be binding upon Tenant without limitation as to time, and a breach of this paragraph will constitute a material breach under the Lease.  In addition, Tenants employees, contractors, etc. shall keep any of the terms and conditions of this Agreement, including any billing statements and/or any backup supporting those statements, confidential.

 

3.8           This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective legal representatives, successors and permitted assigns.

 

3.9           Each party agrees that it will not raise or assert as a defense to any obligation under the Lease or this Agreement or make any claim that the Lease or this Agreement is invalid or unenforceable due to any failure of this document to comply with ministerial requirements including, but not limited to, requirements for corporate seals, attestations, witnesses, notarizations, or other similar requirements, and each party hereby waives the right to assert any such defense or make any claim of invalidity or unenforceability due to any of the foregoing.

 

This Agreement may be executed in multiple counterparts, each of which, when assembled to include an original signature for each party contemplated to sign this Agreement, will constitute a complete and fully executed original. All such fully executed counterparts will collectively constitute a single agreement.  Tenant expressly agrees that if the signature of Landlord and/or Tenant on this Agreement is not an original, but is a digital, mechanical or electronic reproduction (such as, but not limited to, a photocopy, fax, e-mail, PDF, Adobe image, JPEG, telegram, telex or telecopy), then such digital, mechanical or electronic reproduction shall be as enforceable, valid and binding as, and the legal equivalent to, an authentic and traditional ink-on-paper original wet signature penned manually by its signatory.

 

[SIGNATURE PAGE TO FOLLOW]

 

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IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the day and year first above written.

 

	
LANDLORD:
    	
 
    	
TENANT:
    
	
 
    	
 
    	
 
    
	
101 HUDSON STREET ASSOCIATES
    	
 
    	
OPTIMER   PHARMACEUTICALS, INC.
    
	
 
    	
 
    	
 
    	
 
    
	
By:
    	
MC   Hudson Holding L.L.C.,
    	
 
    	
 
    
	
 
    	
general   partner
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
By:
    	
Mack-Cali   Realty, L.P., sole member
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
By:
    	
Mack-Cali   Realty Corporation,
    	
 
    	
 
    
	
 
    	
general   partner
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By:
    	
/s/   Christopher M. DeLorenzo
    	
 
    	
By:
    	
/s/   John Prunty
    
	
 
    	
Christopher   M. DeLorenzo
    	
 
    	
 
    	
Name:   John Prunty
    
	
 
    	
Vice   President of Leasing
    	
 
    	
 
    	
Title:   CFO
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
[SEAL]
    	
 
    	
 
    	
 
    	
 
    

 

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1Exhibit 10.2

 

SECOND AMENDMENT

 

THIS SECOND AMENDMENT (this “Amendment”) is made and entered into as of July 26, 2011, by and between TRIZEC SORRENTO TOWERS, LLC, a Delaware limited liability company (“Landlord”), and OPTIMER PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”).

 

RECITALS

 

A.                                   Landlord and Tenant are parties to that certain lease dated August 18, 2008, as previously amended by Notice of Lease Term Dates dated December 23, 2008 and First Amendment dated May 3, 2010 (the “First Amendment”) (as amended, the “Lease”). Pursuant to the Lease, Landlord has leased to Tenant space currently containing approximately 9,626 rentable square feet (the “Existing Premises”) described as Suite Nos. 250 and 260 on the second (2nd) floor of the building commonly known as Sorrento Towers North located at 5355 Mira Sorrento Place, San Diego, California (the “Building”).

 

B.                                     The parties wish to expand the Existing Premises to include: (i) additional space, containing approximately 1,543 rentable square feet described as Suite No. 265 on the second (2nd) floor of the Building and shown on Exhibit A attached hereto; and (ii) additional space, containing approximately 2,024 rentable square feet described as Suite No. 290 on the second (2nd) floor of the Building and shown on Exhibit A attached hereto (Suite No. 265 and 290 are collectively referred to as the “Suite 265/290 Expansion Space”), on the following terms and conditions.

 

C.                                     The Lease will expire by its terms on November 30, 2011 (the “Existing Expiration Date”), and the parties wish to extend the term of the Lease on the following terms and conditions.

 

NOW, THEREFORE, in consideration of the above recitals which by this reference are incorporated herein, the mutual covenants and conditions contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows:

 

1.                                       Suite 265/290 Expansion.

 

1.1                                 Effect of Suite 265/290 Expansion. Effective as of the Suite 265/290 Expansion Effective Date (defined in Section 1.2 below), the Premises shall be increased from 9,626 rentable square feet on the second (2nd) floor to 13,193 rentable square feet on the second (2nd) floor by the addition of the Suite 265/290 Expansion Space, and, from and after the Suite 265/290 Expansion Effective Date, the Existing Premises and the Suite 265/290 Expansion Space shall collectively be deemed the Premises. The term of the Lease for the Suite 265/290 Expansion Space (the “Suite 265/290 Expansion Term”) shall commence on the Suite 265/290 Expansion Effective Date and, unless sooner terminated in accordance with the Lease, end on the Extended Expiration Date (which the parties acknowledge is July 31, 2012). From and after the Suite 265/290 Expansion Effective Date, the Suite 265/290 Expansion Space shall be subject to all the terms and conditions of the Lease except as provided herein, and except that, except as may be expressly provided in this Amendment, (a) Tenant shall not be entitled to receive, with respect to the Suite 265/290 Expansion Space, any allowance, free rent or other financial concession granted with respect to the Existing Premises, and (b) no representation or warranty made by Landlord with respect to the Existing Premises shall apply to the Suite 265/290 Expansion Space.

 

1.2                                 Suite 265/290 Expansion Effective Date. As used herein, “Suite 265/290 Expansion Effective Date” means the date on which Landlord provides Tenant with possession of the Suite 265/290 Expansion Space following the execution of this Amendment by Landlord and Tenant.

 

1.3                                 Confirmation Letter. At any time after the Suite 265/290 Expansion Effective Date, Landlord may deliver to Tenant a notice substantially in the form of Exhibit B attached hereto, as a confirmation of the information set forth therein, which Tenant shall execute and return to Landlord within five (5) days after receiving it. If Tenant fails to execute and return (or reasonably object in writing to) such notice within five (5) days after receiving it, Tenant shall be deemed to have executed and returned it without exception.

 

2.                                       Extension. The tern of the Lease is hereby extended through July 31, 2012 (the “Extended Expiration Date”). The portion of the term of the Lease commencing December 1, 2011 (the 

 

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“Extension Date”) and ending on the Extended Expiration Date shall be referred to herein as the “Extended Term”.

 

3.                                       Base Rent.

 

3.1                                 With respect to the Suite 265/290 Expansion Space during the Suite 265/290 Expansion Term, the schedule of Base Rent shall be as follows:

 

	
Period During Suite 265/290
   Expansion Term
    	
 
    	
Monthly Base Rent
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Suite 265/290 Expansion Effective Date   through Extended Expiration Date
    	
 
    	
$
    	
9,452.55
    	
 
    
					

 

All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease.

 

3.2                                 During the Extended Term, the schedule of Base Rent with respect to the Original Premises shall be as follows:

 

	
Period of Extended Term
    	
 
    	
Monthly Base Rent
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
December 1, 2011 through Extended Expiration   Date
    	
 
    	
$
    	
29,913.71
    	
 
    
					

 

All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease.

 

4.                                       Additional Security Deposit. No additional security deposit shall be required in connection with this Amendment.

 

5.                                       Expenses and Taxes.

 

5.1                                 With respect to the Suite 265/290 Expansion Space during the Suite 265/290 Expansion Term, Tenant shall pay for Tenant’s Share of Expenses and Taxes in accordance with the terms of the Lease; including a 2008 Base Year. With respect to the Suite 265/290 Expansion Space during the Suite 265/290 Expansion Term, Tenant’s Share shall be 1.2923%.

 

5.2                                 With respect to the Existing Premises during the Extended Term, Tenant shall pay for Tenant’s Share of Expenses and Taxes in accordance with the terms of the Lease.

 

6.                                       Improvements to Suite 265/290 Expansion Space.

 

6.1                                 Condition of Suite 265/290 Expansion Space. Tenant acknowledges that it has inspected the Suite 265/290 Expansion Space and agrees to accept it “as is” without any representation by Landlord regarding its condition and without any obligation on the part of Landlord to perform or pay for any alteration or improvement, except as may be otherwise expressly provided in this Amendment.

 

6.2                                 Responsibility for Improvements to Suite 265/290 Expansion Space. Landlord, at its sole cost and expense, shall be obligated to steam clean the carpet in Suite 265 and paint two (2) walls in Suite 265 (currently painted orange) with a color selected by Tenant from Landlord’s building standard paint selections. Except for Landlord’s obligations under this Section 6.2, any improvements to the Suite 265/290 Expansion Space shall be paid for by Tenant and performed in accordance with the terms of the Lease. In the event Tenant, at Tenant’s sole cost and expense, constructs a doorway between the Existing Premises and the Suite 265/290 Expansion Space, Landlord will not require Tenant to remove such doorway and return the doorway area back to its state prior to said construction. In the event Tenant, at Tenant’s sole cost and expense, installs card readers between the Existing Premises and the Suite 265/290 Expansion Space, Tenant shall be obligated to remove such card readers and associated wiring and patch and repair any damage in accordance with the terms of the Lease.

 

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7.                                       Other Pertinent Provisions. Landlord and Tenant agree that, effective as of the date of this Amendment (unless different effective date(s) is/are specifically referenced in this Section), the Lease shall be amended in the following additional respects:

 

7.1                                 Parking. During the Extended Term, Tenant shall retain its existing parking rights as set forth in the Lease.

 

7.2                                 No Options. The parties hereto acknowledge and agree that any option or other rights contained in the Lease which entitle Tenant to extend the term of the Lease, expand or contract the Premises are deemed null, void and of no further force and effect.

 

8.                                       Miscellaneous.

 

8.1                                 This Amendment sets forth the entire agreement between the parties with respect to the matters set forth herein. There have been no additional oral or written representations or agreements. Tenant shall not be entitled, in connection with entering into this Amendment, to any free rent, allowance, alteration, improvement or similar economic incentive to which Tenant may have been entitled in connection with entering into the Lease, except as may be otherwise expressly provided in this Amendment.

 

8.2                                 Except as herein modified or amended, the provisions, conditions and terms of the Lease shall remain unchanged and in full force and effect.

 

8.3                                 In the case of any inconsistency between the provisions of the Lease and this Amendment, the provisions of this Amendment shall govern and control.

 

8.4                                 Submission of this Amendment by Landlord is not an offer to enter into this Amendment but rather is a solicitation for such an offer by Tenant. Landlord shall not be bound by this Amendment until Landlord has executed and delivered it to Tenant.

 

8.5                                 The capitalized terns used in this Amendment shall have the same definitions as set forth in the Lease to the extent that such capitalized terns are defined therein and not redefined in this Amendment.

 

8.6                                 Tenant shall indemnify and hold Landlord, its trustees, members, principals, beneficiaries, partners, officers, directors, employees, mortgagee(s) and agents, and the respective principals and members of any such agents harmless from all claims of any brokers claiming to have represented Tenant in connection with this Amendment. Landlord shall indemnify and hold Tenant, its trustees, members, principals, beneficiaries, partners, officers, directors, employees, and agents, and the respective principals and members of any such agents harmless from all claims of any brokers (other than Cushman & Wakefield) claiming to have represented Landlord in connection with this Amendment. Tenant acknowledges that any assistance rendered by any agent or employee of any affiliate of Landlord in connection with this Amendment has been made as an accommodation to Tenant solely in furtherance of consummating the transaction on behalf of Landlord, and not as agent for Tenant.

 

8.7                                 Each signatory of this Amendment represents hereby that he or she has the authority to execute and deliver it on behalf of the party hereto for which such signatory is acting.

 

[SIGNATURES ARE ON FOLLOWING PAGE]

 

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

 

 

	
 
    	
LANDLORD:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
TRIZEC   SORRENTO TOWERS, LLC, a Delaware limited liability company
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Brendan McCracken
    
	
 
    	
 
    	
Name:
    	
Brendan   McCracken
    
	
 
    	
 
    	
Title:
    	
Vice   President – Leasing
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
TENANT:
    
	
 
    	
 
    
	
 
    	
OPTIMER   PHARMACEUTICALS, INC., a Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   John Prunty
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
John   Prunty
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
CFO
    
					

 

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EXHIBIT A

 

OUTLINE AND LOCATION OF SUITE 265/290 EXPANSION SPACE

 

 

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EXHIBIT B

 

NOTICE OF LEASE TERM DATES

 

                                               , 2011

 

OPTIMER PHARMACEUTICALS, INC.
  5355 Mira Sorrento Place
 Suite 250
 San Diego, California

 

Re:          Second Amendment (the “Amendment”), dated                 , 2011, to a lease agreement dated August 18, 2008, as amended, between TRIZEC SORRENTO TOWERS, LLC, a Delaware limited liability company (“Landlord”), and OPTIMER PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”), concerning Suite 265/290 on the second (2nd) floor of the building located at 5355 Mira Sorrento Place, San Diego, California (the “Suite 265/290 Expansion Space”).

 

Lease ID:

Business Unit Number:

 

Dear                               :

 

In accordance with the Amendment, Tenant accepts possession of the Suite 265/290 Expansion Space and confirms that (a) the Suite 265/290 Expansion Effective Date is                           , 20    , and (b) the expiration date of the Lease is July 31, 2012.

 

Please acknowledge the foregoing by signing all three (3) counterparts of this letter in the space provided below and returning two (2) fully executed counterparts to my attention. Please note that, pursuant to Section 1.3 of the Amendment, if Tenant fails to execute and return (or reasonably object in writing to) this letter within five (5) days after receiving it, Tenant shall be deemed to have executed and returned it without exception.

 

	
 
    	
“Landlord”:
    
	
 
    	
 
    
	
 
    	
EQUITY   OFFICE MANAGEMENT, L.L.C.,
    
	
 
    	
on   behalf of Trizec Sorrento Towers, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

 

Agreed and Accepted as

of July 18, 2011.

 

“Tenant”:

 

	
OPTIMER   PHARMACEUTICALS, INC.,
    	
 
    
	
a   Delaware corporation
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   John Prunty
    	
 
    
	
Name:
    	
John   Prunty
    	
 
    
	
Title:
    	
CFO
    	
 
    

 

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