Document:

EX-10.31

 Exhibit 10.31 

FIFTH AMENDMENT TO LEASE AND SIGNAGE LEASE 

This FIFTH AMENDMENT TO LEASE (“Fifth Amendment”) is made and entered into as of the 5th day of February, 2020 (the “Effective Date”), by and between HCP TORREY PINES, LLC, a Delaware limited liability company (“Lessor”), and DERMTECH, INC., a Delaware
corporation (“Lessee”). 
 R E C I T A L S : 

A.    Lessor (as successor-in-interest to
AG/Touchstone TP, LLC, a Delaware limited liability company (“Prior Lessor”)) and Lessee (as ultimate successor-in-interest to DERMTECH INTERNATIONAL, a
California corporation (“Prior Lessee”)) are parties to that certain Standard Multi-Lessee Office Lease - Net dated January 25, 2013 (the “Original Lease”), as amended by that certain Addendum to Lease dated
January 25, 2013 (the “Addendum”), as further amended by that certain First Amendment to Standard Rental Lease, Storage Lease and Signage Lease to Expand and Extend Term dated January 30, 2014 (the “First
Amendment”), and as further amended by that certain Assignment, Consent to Assignment, and Second Amendment to Standard Multi-Lessee Office Lease – Net dated November 21, 2016 (the “Second Amendment”), as further
amended by that certain Third Amendment to Lease dated August 6, 2019 (the “Third Amendment”), as further amended by that certain Fourth Amendment to Lease dated September 10, 2019 (the “Fourth Amendment,”
and together with the Original Lease, Addendum, First Amendment, Second Amendment and Third Amendment, collectively, the “Lease”), whereby Lessor leases to Lessee, and Lessee leases from Lessor, that certain 15,355 rentable square
feet of space commonly known as Suites 100, 130, 135 and 210 (collectively, the “Existing Premises”) and located on the first (1st) and second (2nd) floors of that certain building located at 11099 North Torrey Pines Road, San Diego, California (the “Building”). 

B.    Lessor (as successor-in-interest to
Prior Lessor) and Lessee (as ultimate successor-in-interest to Prior Lessee) are also parties to that certain Signage Lease, dated as of April 15, 2013 (the
“Signage Lease”). 
 C.    Lessor and Lessee desire (i) to expand the Existing Premises to include
that certain space consisting of approximately 13,300 rentable square feet of space located on the first (1st) floor of the Building and commonly known as Suite 110 (the “Expansion
Premises”), as delineated on Exhibit A attached hereto and made a part hereof, and (ii) to make other modifications to the Lease and the Signage Lease, and in connection therewith, Lessor and Lessee desire to amend the
Lease and Signage Lease as hereinafter provided. 
 A G R E E M E N T : 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

  

					
		 		 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 1.    Capitalized Terms. All capitalized terms when used
herein shall have the same meaning as is given such terms in the Lease unless expressly superseded by the terms of this Fifth Amendment. 

2.    Modification of Premises. Effective as of the date (the “Expansion Commencement
Date”) which is the earlier to occur of (i) the date upon which Lessee first commences to conduct business in the Expansion Premises, and (ii) the date that occurs sixty (60) days following the date Lessor delivers exclusive
possession of the entire Expansion Premises (excluding the “Holdback Space,” as that term is defined in Section 4.3, below) to Lessee, Lessee shall lease from Lessor and Lessor shall lease to Lessee the Expansion Premises.
Consequently, effective upon the Expansion Commencement Date, the Existing Premises shall be increased to include the Expansion Premises. Lessor and Lessee hereby acknowledge that such addition of the Expansion Premises to the Existing Premises
shall, effective as of the Expansion Commencement Date, increase the rentable area of the Premises to approximately 28,655 rentable square feet. The Existing Premises and the Expansion Premises may hereinafter collectively be referred to as the
“Premises.” 
 3.    Lease Term. Lessor and Lessee acknowledge that Lessee’s lease
of the Existing Premises and the Signage Lease are both scheduled to expire on March 31, 2022, pursuant to the terms of the Lease and the Signage Lease, respectively. Notwithstanding anything to the contrary in the Lease or the Signage Lease,
the term of Lessee’s lease of the Existing Premises, and the term of the Signage Lease, are both hereby extended and shall expire coterminously with the term of Lessee’s lease of the Expansion Premises on the “New Lease Expiration
Date,” as that term is defined below, unless sooner terminated as provided in the Lease or the Signage Lease, as applicable, as hereby amended. The period of time commencing on the Expansion Commencement Date and terminating on the New Lease
Expiration Date shall be referred to herein as the “Expansion Term.” The “New Lease Expiration Date” shall be (i) if the Expansion Commencement Date shall be the first day of a calendar month, then the day
immediately preceding the third (3rd) anniversary of the Expansion Commencement Date; or (ii) if the Expansion Commencement Date shall be other than the first day of a calendar month, then
the last day of the month in which the third (3rd) anniversary of the Expansion Commencement Date occurs. 

4.    Base Rent. 

4.1.    Existing Premises. Notwithstanding anything to the contrary in the Lease as hereby amended, prior to
the Effective Date, Lessee shall continue to pay Base Rent for the Existing Premises in accordance with the terms of the Lease. Commencing on the Effective Date and continuing through the New Lease Expiration Date, Lessee shall pay to Lessor monthly
installments of Base Rent for the Existing Premises as follows: 

  

					
		 	-2-	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 4.1.1    Suites 100 & 130: (9,589sf). 

 

													
	Period	  	Annualized
Base Rent	 	  	Monthly
Installment of
Base Rent	 	  	Monthly
Base Rent
per Rentable
Square Foot	 
	 Effective Date – 1/31/21
	  	$	414,935.04	 	  	$	34,577.92	 	  	$	3.61	 
	 2/1/21 – 1/31/22
	  	$	427,383.12	 	  	$	35,615.26	 	  	$	3.71	 
	 2/1/22 - 1/31/23
	  	$	440,204.64	 	  	$	36,683.72	 	  	$	3.83	 
	 2/1/23 – New Lease Expiration Date
	  	$	453,410.80	 	  	$	37,784.23	 	  	$	3.94	 

 4.1.2    Suite 135: (2,171sf). 

 

													
	Period	  	Annualized
Base Rent	 	  	Monthly
Installment of
Base Rent	 	  	Monthly
Base Rent
per Rentable
Square Foot	 
	 Effective Date – 10/31/20
	  	$	100,300.20	 	  	$	8,358.35	 	  	$	3.85	 
	 11/1/20 – 10/31/21
	  	$	103,426.44	 	  	$	8,618.87	 	  	$	3.97	 
	 11/1/21 - 10/31/22
	  	$	106,292.16	 	  	$	8,857.68	 	  	$	4.08	 
	 11/1/22 - New Lease Expiration Date
	  	$	109,480.92	 	  	$	9,123.41	 	  	$	4.20	 

 4.1.3    Suite 210: (3,595sf). 

 

													
	Period	  	Annualized
Base Rent	 	  	Monthly
Installment of
Base Rent	 	  	Monthly
Base Rent
per Rentable
Square Foot	 
	 Effective Date – 8/31/20
	  	$	166,089.00	 	  	$	13,840.75	 	  	$	3.85	 
	 9/1/20 - 8/31/21
	  	$	171,071.64	 	  	$	14,255.97	 	  	$	3.97	 
	 9/1/21 - 8/31/22
	  	$	176,203.80	 	  	$	14,683.65	 	  	$	4.08	 
	 9/1/22 - New Lease Expiration Date
	  	$	181,489.91	 	  	$	15,124.16	 	  	$	4.21	 

 4.1.4    Signage Lease. the rental amount payable by Lessee (as Tenant) under the
Signage Lease shall remain $200.00 per month ($100.00 per sign) during the Expansion Term. 
 4.2.    Expansion
Premises. Commencing on the Expansion Commencement Date and continuing throughout the Expansion Term, Lessee shall pay to Lessor monthly 

  

					
		 	-3-	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 
installments of Base Rent, pursuant to the terms of the Lease, for the Expansion Premises as follows (the first “Expansion Term Lease Year” shall be the first full twelve
(12) consecutive calendar months in addition to any partial calendar month at the beginning of the Expansion Term should the Expansion Commencement Date not fall on the first (1st) day of a calendar month, and each following “Expansion
Term Lease Year” shall be the succeeding twelve (12) month period): 
  

													
	 Expansion Term
 Lease Year
	  	Annualized
Base Rent	 	  	Monthly
Installment of
Base Rent	 	  	Monthly
Base Rent
per Rentable
Square Foot	 
	 1
	  	$	654,360.00	 	  	$	54,530.00	 	  	$	4.10	 
	 2
	  	$	673,990.80	 	  	$	56,165.90	 	  	$	4.22	 
	 3
	  	$	694,210.56	 	  	$	57,850.88	 	  	$	4.35	 

 On or before the Expansion Commencement Date, Lessee shall pay to Lessor the Base Rent payable for the
Expansion Premises for the first full month of the Expansion Term (as reduced to reflect the reduction, if any, to which Lessee is entitled pursuant to Section 4.3, below). Notwithstanding the foregoing or anything to the
contrary in this Fifth Amendment, but subject to the terms and condition of Section of Exhibit B, attached hereto, the Expansion Commencement Date shall be subject to “Landlord Delay” (as that term is defined in Exhibit
B). 
 4.3.    Holdback Space. Lessor and Lessee hereby acknowledge and agree that, in connection
with Lessor’s desire to provide a common amenity for use by the tenants of the Project, a portion of the Expansion Premises, identified as “Holdback Area” on Exhibit D, attached hereto (the “Holdback
Space”) shall not be delivered to Lessee concurrently with the remainder of the Expansion Premises. As a result, notwithstanding anything to the contrary in this Fifth Amendment, Base Rent for the Expansion Premises shall be reduced by
three percent (3%) (the “Reduction Factor”) until the later of (i) the date that occurs thirty (30) days after the date that Lessor delivers the Holdback Space to Lessee, and (ii) the Expansion Commencement Date (such
period of time, the “Holdback Period”); provided that if Lessor fails to deliver the Holdback Space to Lessee on or prior to September 30, 2020 (the “Outside Date”), then the Reduction Factor shall be increased
to six percent (6%) for the portion of the Holdback Period occurring after the Outside Date. 

5.    Lessee’s Share of Operating Expenses for Expansion Premises. Except as specifically set forth in
this Section 5, commencing on the Expansion Commencement Date, and continuing throughout the Expansion Term, Lessee shall pay Lessee’s Share of Operating Expenses in connection with the Expansion Premises in accordance
with the terms of the Lease, provided that with respect to the calculation of Lessee’s Share of Operating Expenses in connection with the Expansion Premises, Lessee’s Share shall equal 14.38%. Notwithstanding the foregoing, during the
Holdback Period Lessee’s Share for the Expansion Premises shall be reduced by three percent (3%), from 14.38% to 13.95%. 

  

					
		 	-4-	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 6.    Condition of Premises. Lessor and Lessee acknowledge
that Lessee has been occupying the Existing Premises pursuant to the Lease, and therefore Lessee continues to accept the Existing Premises in its presently existing, “as is” condition (provided that the foregoing shall not affect
Lessor’s ongoing maintenance, repair and restoration obligations set forth in the Lease, as amended). Except as otherwise provided in the Tenant Work Letter attached hereto as Exhibit B, Lessor shall not be obligated to provide or
pay for any improvement work or services related to the improvement of the Existing Premises. Lessee also acknowledges that neither Lessor nor any agent of Lessor has made any representation or warranty regarding the condition of the Premises, the
Building, or the Project or with respect to the suitability of the same for the conduct of Lessee’s business. Notwithstanding the foregoing, Lessee shall have the right to perform improvements in the Premises pursuant to the terms of the Tenant
Work Letter attached hereto as Exhibit B (the “Tenant Work Letter”). For purposes of Section 1938 of the California Civil Code, Lessor hereby discloses to Lessee, and Lessee hereby
acknowledges, that the Premises have not undergone inspection by a Certified Access Specialist (CASp). As required by Section 1938(e) of the California Civil Code, Lessor hereby states as follows: “A Certified Access Specialist (CASp) can
inspect the subject premises and determine whether the subject premises comply with all of the applicable construction-related accessibility standards under state law. Although state law does not require a CASp inspection of the subject premises,
the commercial property owner or lessor may not prohibit the lessee or Lessee from obtaining a CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or Lessee, if requested by the lessee or Lessee. The
parties shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of construction-related accessibility
standards within the premises.” In furtherance of the foregoing, Lessor and Lessee hereby agree as follows: (a) any CASp inspection requested by Lessee shall be conducted, at Lessee’s sole cost and expense, by a CASp approved in
advance by Lessor; and (b) Lessee, at its cost, shall be responsible for making any repairs within the Premises to correct violations of construction-related accessibility standards as disclosed by the CASp inspection; and, if anything done by
or for Lessee in its use or occupancy of the Premises shall require repairs to the Building (outside the Premises) to correct violations of construction-related accessibility standards as disclosed by the CASp inspection, then Lessee shall, at
Lessor’s option, either perform such repairs at Lessee’s sole cost and expense or reimburse Lessor upon demand, for the cost to Lessor of performing such repairs. 

7.    Brokers. Lessor and Lessee hereby warrant to each other that they have had no dealings with any real
estate broker or agent in connection with the negotiation of this Fifth Amendment other than Hughes Marino, Inc. (representing Lessee) and CBRE, Inc. (representing Lessor) (collectively, the “Brokers”), and that they know of no
other real estate broker or agent who is entitled to a commission in connection with this Fifth Amendment. Each party agrees to indemnify and defend the other party against and hold the other party harmless from any and all claims, demands, losses,
liabilities, lawsuits, judgments, and costs and expenses (including, without limitation, reasonable attorneys’ fees) with respect to any leasing commission or equivalent compensation alleged to be owing on account of the indemnifying
party’s dealings with any real estate broker or agent other than the Brokers. The terms of this Section 7 shall survive the expiration or earlier termination of this Fifth Amendment. 

  

					
		 	-5-	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 8.    Security Deposit. Notwithstanding anything in the
Lease to the contrary, the Security Deposit held by Lessor pursuant to the Lease, as amended hereby, shall equal One Hundred Sixty-Seven Thousand Six and No/100 Dollars ($167,006.00). Lessor and Lessee acknowledge that, in accordance with
Paragraph 6 of the Fourth Amendment, Lessee has previously delivered the sum of Eighty Four Thousand Three Hundred Seventeen and No/100 Dollars ($84,317.00) (the “Existing Security Deposit”) to Lessor as security for the
faithful performance by Lessee of the terms, covenants and conditions of the Lease. Concurrently with Lessee’s execution of this Fifth Amendment, Lessee shall deposit with Lessor an amount equal to
Eighty-Two Thousand Six Hundred Eighty-Nine and No/100 Dollars ($82,689.00) to be held by Lessor as a part of the Security Deposit. To the extent that the total amount held by Lessor at any time as security
for the Lease, as hereby amended, is less than One Hundred Sixty-Seven Thousand Six and No/100 Dollars ($167,006.00), Lessee shall pay the difference to Lessor within ten (10) business days following Lessee’s receipt of notice thereof from
Lessor. 
 9.    Parking. At no additional charge (other that such costs and expenses that are included in
Operating Expenses) and in lieu of Lessee’s parking rights set forth in the Lease, effective as of the Effective Date and continuing through the New Lease Expiration Date, Lessee shall be entitled to use up to three (3) unreserved parking
spaces at the Building per one thousand (1,000) rentable square feet of the Premises (i.e., initially 86 spaces) in connection with Lessee’s lease of the Premises (the “Parking Passes”). Except as set forth in this
Section 9, Lessee shall lease the Parking Passes in accordance with the provisions of the Lease. Subject to availability, as reasonably determined by Lessor, Lessee may rent, on a month-to-month basis terminable by either party upon thirty (30) days’ prior written notice, up to twenty (20) additional unreserved parking spaces at the Building or, at Lessor’s option,
at nearby projects owned by Lessor or an affiliate of Lessor (the “Month-to-Month Spaces”). Lessee shall pay Lessor, or an affiliate of Lessor, as
applicable, an amount equal to Eighty-Five Dollars ($85.00) per parking space per month for the Month-to Month Spaces. 

10.    Right of First Offer. Lessor hereby grants to the originally named Lessee herein
(“Original Lessee”), and any Tenant Affiliate to which Original Tenant’s entire leasehold interest is hereafter assigned (a “Tenant Affiliate Assignee”), a one-time right
of first offer with respect to the space in the Building located immediately adjacent to, and on the same floor as, the Premises from time to time (the “First Offer Space”). Notwithstanding the foregoing, such first offer right of
Lessee shall commence only following the expiration or earlier termination of the existing leases (including renewals and extensions, whether pursuant to rights currently existing or hereafter granted) of the First Offer Space, and such right of
first offer shall be subordinate to all rights of tenants of the Project, which rights relate to the First Offer Space and which rights are set forth in leases of space in the Project existing as of the date hereof, each including any renewal,
extension, expansion, first offer, first negotiation and other similar rights, regardless of whether such rights are executed strictly in accordance with their respective terms or pursuant to lease amendments or new leases (all such tenants under
existing leases of the First Offer Space and other tenants of the Project, collectively, the “Superior Right Holders”). All Superior Right Holders (excluding the existing tenants of the First Offer Space as such tenants shall have
the right to extend the terms of their leases whether pursuant to rights currently existing or hereafter granted) are set forth on Exhibit C, attached hereto. Lessee’s right of first offer shall be on the terms and conditions set
forth in this Section 10. 

  

					
		 	-6-	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 10.1.    Procedure for Offer. Lessor shall notify
Lessee (a “First Offer Notice”) when the First Offer Space or any portion thereof becomes “Available,” as that term is defined hereinbelow, for lease to third parties, provided that no Superior Right Holder wishes to lease
such space. Pursuant to such First Offer Notice, Lessor shall offer to lease to Lessee the then available First Offer Space. A First Offer Notice shall describe the space so offered to Lessee and shall set forth Lessor’s good faith
determination of the “Fair Rental Value,” as that term is defined in Section 10.3, below, of the First Offer Space and the other economic terms upon which Lessor is willing to lease such space to Lessee. The
rentable square footage of the space so offered to Lessee shall be as set forth in the First Offer Notice. Except as otherwise set forth in this Section 10 or in the First Offer Notice, Lessee’s leasing of First Offer Space shall be
subject to all of the terms and conditions of the Lease. For purposes of this Section 10, the First Offer Space, or a portion thereof, shall be deemed to become “Available” when Lessor has determined that
the third-party tenant of such First Offer Space, or a portion thereof, and any occupant of such First Offer Space, or a portion thereof, claiming under such third-party tenant, will not extend or renew the term of its lease, or enter into a new
lease, for such First Offer Space, or a portion thereof. 
 10.2.    Procedure for Acceptance. If
Lessee wishes to exercise Lessee’s right of first offer with respect to the space described in a First Offer Notice, then within seven (7) business days of delivery of such First Offer Notice to Lessee, Lessee shall deliver notice to
Lessor of Lessee’s intention to exercise its right of first offer with respect to the entire space described in such First Offer Notice on the terms contained therein; provided, however, Lessee may elect to exercise its right of first offer
with respect to the space described in a First Offer Notice, but object to the First Offer Rent set forth in the First Offer Notice, in which event the First Offer Rent shall be determined pursuant to the terms of
Section 11.3, below. If Lessee exercises its right of first offer with respect to the space described in a First Offer Notice, but fails to object to the First Offer Rent set forth in the First Offer Notice, then Lessee
shall be deemed to have accepted the First Offer Rent set forth in the First Offer Notice. If Lessee does not so notify Lessor within the seven (7) business day period, then Lessor shall be free to lease the space described in such First Offer
Notice to anyone to whom Lessor desires on any terms Lessor desires. Notwithstanding anything to the contrary contained herein, Lessee must elect to exercise its right of first offer, if at all, with respect to all of the space offered by Lessor to
Lessee at any particular time, and Lessee may not elect to lease only a portion thereof. If Lessee does not exercise its right of first offer with respect to any space described in a First Offer Notice or if Lessee fails to respond to a First Offer
Notice within seven (7) business days of delivery thereof, then Lessee’s right of first offer as set forth in this Section 10 shall terminate as to all of the space described in such First Offer Notice. 

10.3.    First Offer Space Rent. The annual Base Rent payable by Lessee for the First Offer Space
(the “First Offer Rent”) shall be equal to the “Fair Rental Value,” as that term is defined below, for the First Offer Space, pursuant to transactions consummated within the nine (9)-month period preceding the “First
Offer Commencement Date,” as that term is defined in Section 10.5 of this Fifth Amendment. The “Fair Rental Value,” as used in this Fifth Amendment, shall be equal to the annual rent per rentable
square foot (including additional rent and considering any “base year” or “expense stop” applicable thereto), including all escalations, at which tenants, are leasing non-sublease, non-encumbered, non-equity space which is not significantly greater or smaller in size than the subject space, for a comparable lease term, in an arm’s length
transaction, which comparable space is located in the “Comparable Buildings,” as that 

  

					
		 	-7-	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 
term is defined in this Section 10.3, below (transactions satisfying the foregoing criteria shall be known as the “Comparable Transactions”), taking
into consideration the following concessions (the “Concessions”): (a) rental abatement concessions, if any, being granted such tenants in connection with such comparable space; (b) tenant improvements or allowances provided or
to be provided for such comparable space, and taking into account the value, if any, of the existing improvements in the subject space, such value to be based upon the age, condition, design, quality of finishes and layout of the improvements and
the extent to which the same can be utilized by a general office user other than Lessee; and (c) other reasonable monetary concessions being granted such tenants in connection with such comparable space; provided, however, that in calculating
the Fair Rental Value, no consideration shall be given to (i) the fact that Lessor is or is not required to pay a real estate brokerage commission in connection with Lessor’s exercise of its right to lease First Offer Space or its right to
extend the term of its lease of the Premises pursuant to Section 11, below, as applicable,, or the fact that landlords are or are not paying real estate brokerage commissions in connection with such comparable space, and (ii) any period of
rental abatement, if any, granted to tenants in comparable transactions in connection with the design, permitting and construction of tenant improvements in such comparable spaces. The term “Comparable Buildings” shall mean the
Building and those other first-class office buildings (and office leases with life-science buildings) located in the Torrey Pines market area of San Diego, California that are comparable in quality of construction, services and amenities. 

10.4.    Construction In First Offer Space. Unless otherwise set forth to the contrary in the First
Offer Notice (or agreed to in writing by Lessor and Lessee, each in their sole and absolute discretion), Lessee shall accept the First Offer Space in its then existing “as is” condition. The construction of improvements in the First Offer
Space shall comply with the terms of Article 7 of the Original Lease. 
 10.5.    Amendment to
Lease. If Lessee timely exercises Lessee’s right to lease First Offer Space as set forth herein, then, within thirty (30) days thereafter, Lessor and Lessee shall execute an amendment (the “First Offer
Amendment”) adding such First Offer Space to the Premises upon the terms and conditions as set forth in the First Offer Notice therefor and this Section 10. Lessee shall commence payment of Rent for such First Offer Space, and the term
of such First Offer Space shall commence, upon the date of delivery of such First Offer Space to Lessee (the “First Offer Commencement Date”) and terminate on the date set forth in the First Offer Notice therefor. 

10.6.    Termination of Right of First Offer. The rights contained in this Section 10 shall be
personal to Original Lessee and any Tenant Affiliate Assignee, and may only be exercised by Original Lessee or a Tenant Affiliate Assignee (and not by any assignee, sublessee or other transferee) if Original Lessee or Tenant Affiliate Assignee, as
applicable, occupies the entire Premises. The right of first offer granted herein shall terminate as to particular First Offer Space upon the failure by Lessee to exercise its right of first offer with respect to such First Offer Space as offered by
Lessor. Lessee shall not have the right to lease First Offer Space, as provided in this Section 10, if, as of the date of the attempted exercise of any right of first offer by Lessee, as of the date Lessor and Lessee execute the First Offer
Amendment, or as of the scheduled date of delivery of such First Offer Space to Lessee, Lessee is in default under the Lease, as amended, beyond any applicable notice and cure period expressly set forth in the Lease, as amended, or Lessee has
previously been in default under the Lease, as amended, beyond any applicable notice 

  

					
		 	-8-	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 
and cure period expressly set forth in the Lease, as amended, more than once during the immediately preceding twelve (12) month period (the (“Option Conditions”); provided
Lessor shall have the right to waive the Option Conditions in Lessor’s sole discretion. 
 11.    Option
Term. 
 11.1.    Option Right. Lessor hereby grants to Original Lessee, and any Tenant Affiliate
Assignee, one (1) option to extend the term of the Lease for the entire Premises for a period of three (3) years (the “Option Term”), which option shall be irrevocably exercised only by written notice delivered by Lessee
to Lessor not earlier than fifteen (15) months, and not later than nine (9) months, prior to the end of the Expansion Term, provided that the following conditions (the “Option Conditions”) are satisfied: (i) as
of the date of delivery of such notice, Lessee is not in default under the Lease, as amended, beyond the expiration of any applicable notice and cure period expressly set forth in the Lease, as amended; (ii) Lessee is not in default under the
Lease, as amended, beyond the expiration of any applicable notice and cure period expressly set forth in the Lease, as amended, at the time Lessor and Lessee execute an amendment to the Lease extending the term of the Lease for the entire Premises
for the Option Term, and as of the end of the Expansion Term, Lessee is not in default under the Lease, as amended; (iii) Lessee has not previously been in default under the Lease, as amended, beyond the expiration of any applicable notice and
cure period expressly set forth in the Lease, as amended, more than once; and (iv) the Lease then remains in full force and effect and Original Lessee or a Tenant Affiliate Assignee is the Lessee under this Lease and not more than twenty-five
percent of the Premises has been sublet at the time the option to extend is exercised and as of the commencement of the Option Term. Lessor may, at Lessor’s option, exercised in Lessor’s sole and absolute discretion, waive any of the
Option Conditions in which case the option, if otherwise properly exercised by Lessee, shall remain in full force and effect. Upon the proper exercise of such option to extend, and provided that Lessee satisfies all of the Option Conditions (except
those, if any, which are waived by Lessor), the term of the Lease, as it applies to the Premises, shall be extended for a period of three (3) years. The rights contained in this Section 11 shall be personal to Original
Lessee and any Tenant Affiliate Assignee and may be exercised by Original Lessee or a Tenant Affiliate Assignee only (and not by any other assignee, sublessee or other transferee of Lessee’s interest in the Lease, as amended). 

11.2.    Option Rent. The annual Rent payable by Lessee during the Option Term (the “Option
Rent”) shall be equal to the Fair Rental Value for the Premises as of the commencement date of the Option Term; provided, however, the base rent component of the Option Rent on an annual, per rentable square foot basis shall in no event be
less than one hundred three percent (103%) of the Base Rent on an annual, per rentable square foot basis, under the Lease, as amended, as the date immediately prior to the commencement of the Option Term (the day the Option Term commences shall be
the “Option Term Commencement Date”), including all applicable escalations to the Base Rent made or to be made during the Expansion Term (the “Prior Base Rent”). In the event that the base rent component of the
First Offer Rent is the Prior Base Rent, then the Base Rent shall increase by three percent (3%) on each anniversary of the Option Term Commencement Date. The Concessions (A) shall be reflected in the effective rental rate (which effective
rental rate shall take into consideration the total dollar value of such Concessions as amortized on a straight-line basis over the applicable term of the Comparable Transaction (in which case such Concessions evidenced in the effective rental rate
shall not be 

  

					
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granted to Lessee)) payable by Lessee, or (B) at Lessor’s election, all such Concessions shall be granted to Lessee in kind. Notwithstanding anything to the contrary contained in this
Section 11.2 above, if there are not a sufficient number of Comparable Transactions with a comparable lease term to the Option Term to determine the Fair Rental Value for a lease of such duration, then the Fair Rental Value for purposes of this
Section 11.2 shall be equal to that of Comparable Transactions with a term of five (5) years, provided that the Concessions shall be appropriately prorated on a fractional basis to account for the shorter Option Term. 

11.3.    Determination of Option Rent. In the event Lessee timely and appropriately exercises an option to
extend the term of the Lease for the entire Premises, Lessor shall notify Lessee of Lessor’s determination of the Option Rent at least one hundred eighty (180) days prior to the New Lease Expiration Date. If Lessee, on or before the date
which is thirty (30) days following the date upon which Lessee receives Lessor’s determination of the Option Rent, in good faith objects to Lessor’s determination of the Option Rent, or with respect to First Offer Rent, if Lessee
exercises its right of first offer with respect to the space described in a First Offer Notice but objects to the First Offer Rent set forth in the First Offer Notice, then Lessor and Lessee shall attempt to agree upon the Option Rent (or First
Offer Rent, as applicable) using their best good-faith efforts. If Lessor and Lessee fail to reach agreement on or before the commencement of the Option Term (of the First Offer Commencement Date, as applicable) (each, the “Outside Agreement
Date”), then each party shall make a separate determination of the Option Rent (or First Offer Rent, as applicable), within five (5) business days of the Outside Agreement Date, and such determinations shall be submitted to arbitration
in accordance with Sections 11.3.1 through 11.3.7, below. If Lessee fails to object to Lessor’s determination of the Option Rent within the time period set forth herein, then Lessee shall be deemed to have
accepted Lessor’s determination of Option Rent. 
 11.3.1    Lessor and Lessee shall each appoint one arbitrator
who shall be, at the option of the appointing party, a real estate broker or appraiser who shall have been active over the five (5) year period ending on the date of such appointment in the leasing or appraisal, as the case may be, of
first-class life-science buildings located in the Torrey Pines market area of San Diego, California. The determination of the arbitrators shall be limited solely to the issue of whether Lessor’s or Lessee’s submitted Option Rent (or First
Offer Rent, as applicable) is the closest to the actual Option Rent (or First Offer Rent, as applicable), taking into account the requirements of Section 11.2 (and Section 10.3 with respect to the
First Offer Rent) of this Fifth Amendment, as determined by the arbitrators. Each such arbitrator shall be appointed within fifteen (15) days after the Outside Agreement Date. Lessor and Lessee may consult with their selected arbitrators prior
to appointment and may select an arbitrator who is favorable to their respective positions. The arbitrators so selected by Lessor and Lessee shall be deemed “Advocate Arbitrators.” 

11.3.2    The two (2) Advocate Arbitrators so appointed shall be specifically required pursuant to an engagement
letter within ten (10) days of the date of the appointment of the last appointed Advocate Arbitrator to agree upon and appoint a third arbitrator (“Neutral Arbitrator”) who shall be qualified under the same criteria set forth
hereinabove for qualification of the two Advocate Arbitrators, except that neither the Lessor or Lessee or either parties’ Advocate Arbitrator may, directly or indirectly, consult with the Neutral Arbitrator prior or subsequent to his

  

					
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or her appearance. The Neutral Arbitrator shall be retained via an engagement letter jointly prepared by Lessor’s counsel and Lessee’s counsel. 

11.3.3    The three arbitrators shall, within thirty (30) days of the appointment of the Neutral Arbitrator, reach a
decision as to whether the parties shall use Lessor’s or Lessee’s submitted Option Rent (or First Offer Rent, as applicable), and shall notify Lessor and Lessee thereof. 

11.3.4    The decision of the majority of the three arbitrators shall be binding upon Lessor and Lessee. 

11.3.5    If either Lessor or Lessee fails to appoint an Advocate Arbitrator within fifteen (15) days after the
Outside Agreement Date, then either party may petition the presiding judge of the Superior Court of San Diego County to appoint such Advocate Arbitrator subject to the criteria in Section 11.3.1 of this Fifth Amendment, or
if he or she refuses to act, either party may petition any judge having jurisdiction over the parties to appoint such Advocate Arbitrator. 

11.3.6    If the two (2) Advocate Arbitrators fail to agree upon and appoint the Neutral Arbitrator within ten
(10) business days following the date of the appointment of the last appointed Advocate Arbitrator, then either party may petition the presiding judge of the Superior Court of San Diego County to appoint the Neutral Arbitrator, subject to
criteria in Section 11.3.2 of this Fifth Amendment, or if he or she refuses to act, either party may petition any judge having jurisdiction over the parties to appoint such arbitrator. 

11.3.7    The cost of the arbitration shall be paid by Lessor and Lessee equally. 

11.3.8    In the event that the Option Rent (or First Offer Rent, as applicable) shall not have been determined pursuant
to the terms hereof prior to the commencement of the Option Term (or First Offer Commencement Date, as applicable), Lessee shall be required to pay the Option Rent (or First Offer Rent, as applicable) initially provided by Lessor to Lessee, and upon
the final determination of the Option Rent (or First Offer Rent, as applicable), the payments made by Lessee shall be reconciled with the actual amounts of Option Rent (or First Offer Rent, as applicable) due, and the appropriate party shall make
any corresponding payment to the other party within thirty (30) days of such reconciliation. 
 12.    No
Further Modification. Except as set forth in this Fifth Amendment, all of the terms and provisions of the Lease shall apply with respect to the Premises and shall remain unmodified and in full force and effect. In the event of any conflict
between the terms and conditions of the Lease, and the terms and conditions of this Fifth Amendment, the terms and conditions of this Fifth Amendment shall prevail. 

  

					
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 IN WITNESS WHEREOF, this Fifth Amendment has been executed as of the day and year first
above written. 
  

													
	“LESSOR”	 		 	“LESSEE”
			
	 HCP TORREY PINES, LLC
 a Delaware
limited liability company
	 	        	 	 DERMTECH, INC.
 a Delaware
corporation

					
	By:	 	 /s/ Michael Dorris
	 		 	By:	 	 /s/ John Dobak

		 	Name:	 	Michael Dorris	 		 		 	Name:	 	John Dobak
		 	Its:	 	VP	 		 		 	Its:	 	CEO
						
		 		 		 		 	By:	 	 /s/ Kevin Sun

		 		 		 		 		 	Name:	 	Kevin Sun
		 		 		 		 		 	Its:	 	CFO

  

					
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 EXHIBIT A 

TORREY PINES CORPORATE CENTER 

OUTLINE OF EXPANSION PREMISES 
  

 

  

					
		 	 EXHIBIT A

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 EXHIBIT B 

TENANT WORK LETTER 

This Tenant Work Letter shall set forth the terms and conditions relating to the construction of the tenant improvements in the Premises. This
Tenant Work Letter is essentially organized chronologically and addresses the issues of the construction in sequence, as such issues will arise during the actual construction. All references in this Tenant Work Letter to Articles or Sections of
“the Lease” shall mean the relevant portion the “Lease,” as defined in this Fifth Amendment, and all references in this Tenant Work Letter to “Premises” shall mean the Existing Premises and the Expansion Premises. In
the event of any conflict between the terms of this Tenant Work Letter and the terms of the Lease pertaining to Alterations and/or Lessee’s right to alter and/or improve the Premises, the terms of this Tenant Work Letter shall prevail. 

SECTION 1 

LESSOR’S INITIAL CONSTRUCTION IN THE PREMISES 

Lessor has constructed, at its sole cost and expense, the base, shell, and core (i) of the Premises and (ii) of the floor of the
Building on which the Premises is located (collectively, the “Base, Shell, and Core”). The Base, Shell and Core shall consist of those portions of the Premises which were in existence prior to the construction of the tenant
improvements in the Premises for the prior tenant of the Premises. Notwithstanding anything set forth in this Tenant Work Letter to the contrary (but without affecting Lessor’s ongoing maintenance, repair, and restoration obligations under the
Lease), Lessee shall accept the Base, Shell and Core from Lessor in their presently existing, “as-is” condition. 

SECTION 2 
 TENANT
IMPROVEMENTS 
 2.1    Tenant Improvement Allowance. Lessee shall be entitled to a one-time tenant improvement allowance (the “Tenant Improvement Allowance”) in the amount of Two Hundred Sixty-Six Thousand and No/100 Dollars ($266,000.00)
(i.e., $20.00 per rentable square foot of the Expansion Premises) for the costs relating to the design and construction of Lessee’s improvements which are permanently affixed to the Premises (the “Tenant Improvements”). In no
event shall Lessor be obligated to make disbursements pursuant to this Tenant Work Letter in a total amount which exceeds the Tenant Improvement Allowance. In the event that the Tenant Improvement Allowance is not fully utilized by Lessee on or
before the first (1st) anniversary of the Expansion Commencement Date (the “TIA Expiration Date”), then such unused amounts shall revert to Lessor, and Lessee shall have no
further rights with respect thereto. Any Tenant Improvements that require the use of Building risers, raceways, shafts and/or conduits, shall be subject to Lessor’s reasonable rules, regulations, and restrictions, including the requirement that
any cabling vendor must be selected from a list provided by Lessor containing at least three (3) independent cabling vendors, and that the amount and location of any such cabling must be approved by Lessor (such

  

					
		 	 EXHIBIT B

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approval not to be unreasonably withheld). All Tenant Improvements for which the Tenant Improvement Allowance has been made available shall be deemed Lessor’s property under the terms of the
Lease; provided, however, Lessor may, by written notice to Lessee prior to the end of the Expansion Term, or given following any earlier termination of the Lease, as amended, require Lessee, at Lessee’s expense, to remove any Tenant
Improvements and to repair any damage to the Premises and Building caused by such removal; provided, however, that, notwithstanding the foregoing, upon request by Lessee at the time of Lessee’s request for Lessor’s approval of the
“Final Working Drawings,” as that term is defined in Section 3.3 of this Tenant Work Letter, Lessor shall notify Lessee whether the Tenant Improvements will be required to be removed pursuant to the terms of this Section 2.1.

 2.1.1    Additional Tenant Improvement Allowance. Subject to the terms and conditions set forth in this
Section 2.1.1, Lessee shall be entitled, in Lessee’s sole discretion, to increase the Tenant Improvement Allowance (the “Additional Allowance”) in an amount not to exceed $133,000.00 (i.e., an amount
not to exceed an additional Ten and 00/100 Dollars ($10.00) per rentable square foot of the Expansion Premises), pursuant to a written notice delivered by Lessee to Lessor on or before the date that occurs six (6) months following the Expansion
Commencement Date. In the event Lessee exercises its right to use all or any portion of the Additional Allowance, the monthly Base Rent for the Expansion Premises shall be increased by an amount equal to the “Additional Monthly Base Rent,”
as that term is defined below, in order to repay the Additional Allowance to Lessor. The “Additional Monthly Base Rent” shall be determined as the missing component of an annuity, which annuity shall have (w) the dollar amount
of the Additional Allowance which Lessee elects to utilize as the present value amount, (x) the number of remaining monthly rental payments that Lessee shall be required to make during the Expansion Term as the number of payments, (y) six
thousand six hundred sixty-six ten thousands (0.6666), which is equal to eight percent (8%) divided by twelve (12) months per year, as the monthly interest factor and (z) the Additional Monthly Base
Rent as the missing component of the annuity. 
 2.1.2.    Distribution of Additional Allowance. If
Lessee elects to utilize all or a portion of the Additional Allowance, then (i) all references in this Tenant Work Letter to the “Tenant Improvement Allowance”, shall be deemed to include the Additional Allowance which Lessee elects
to utilize, and (ii) the parties shall promptly execute an amendment (the “Additional Allowance Amendment”) to the Lease setting forth the new amount of the Base Rent and Tenant Improvement Allowance computed in accordance with
this Section 2.1. 
 2.2    Disbursement of the Tenant Improvement Allowance.

 2.2.1    Tenant Improvement Allowance Items. Except as otherwise set forth in this Tenant Work Letter, the
Tenant Improvement Allowance shall be disbursed by Lessor on a monthly basis only for the following items and costs (collectively, the “Tenant Improvement Allowance Items”): 

2.2.1.1    Payment of the fees of the “Architect” and the “Engineers,” as those terms are defined in
Section 3.1 of this Tenant Work Letter, and the fees of Lessee’s project manager (if any), which fees shall, notwithstanding anything to the contrary contained in this 

  

					
		 	 EXHIBIT B

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Tenant Work Letter, not exceed an aggregate amount equal to $5.00 per rentable square foot of the Expansion Premises, and payment of the actual and reasonable
out-of-pocket fees incurred by Lessor the review of the “Construction Drawings,” as that term is defined in Section 3.1 of this Tenant Work Letter, by third-party architects
and/or engineers to the extent reasonably required given the nature of the Construction Drawings; 
 2.2.1.2    The
payment of plan check, permit and license fees relating to construction of the Tenant Improvements; 
 2.2.1.3    The
cost of construction of the Tenant Improvements, including, without limitation, testing and inspection costs, freight elevator usage, hoisting and trash removal costs, and contractors’ fees and general conditions; 

2.2.1.4    The cost of any changes in the Base, Shell and Core when such changes are required by the Construction
Drawings (including if such changes are due to the fact that such work is prepared on an unoccupied basis), such cost to include all direct architectural and/or engineering fees and expenses incurred in connection therewith; 

2.2.1.5    The cost of any changes to the Construction Drawings or Tenant Improvements required by all applicable
building codes (the “Code”); 
 2.2.1.6    The cost of connection of the Premises to the
Building’s energy management systems; 
 2.2.1.7    The “PMA Fee,” as that term is defined in
Section 4.2.2.1 of this Tenant Work Letter; and 
 2.2.1.8    Sales and use taxes and
Title 24 fees. 
 2.2.2    Disbursement of Tenant Improvement Allowance. During the construction of
the Tenant Improvements, Lessor shall make monthly disbursements of the Tenant Improvement Allowance for Tenant Improvement Allowance Items for the benefit of Lessee and shall authorize the release of monies for the benefit of Lessee as follows.

 2.2.2.1    Monthly Disbursements. On or before the fifth
(5th) day of each calendar month, during the construction of the Tenant Improvements (or such other date as Lessor may designate), Lessee shall deliver to Lessor: (i) a request for payment of
the “Contractor,” as that term is defined in Section 4.1 of this Tenant Work Letter, approved by Lessee, in a form to be provided by or otherwise reasonably acceptable to Lessor, showing the schedule, by trade, of
percentage of completion of the Tenant Improvements in the Premises, detailing the portion of the work completed and the portion not completed; (ii) invoices from all of “Tenant’s Agents,” as that term is defined in
Section 4.1.2 of this Tenant Work Letter, for labor rendered and materials delivered to the Premises; (iii) executed conditional mechanic’s lien releases from all of Tenant’s Agents (and unconditional
mechanic’s lien releases from all of Tenant’s Agents that were paid pursuant to Lessee’s prior month’s request for payment), which shall comply with the appropriate provisions, as reasonably determined by Lessor, of California
Civil Code Sections 8132 and 8136 

  

					
		 	 EXHIBIT B

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(or Sections 8134 and 8138 with respect to the unconditional mechanic’s lien releases); and (iv) all other information reasonably requested by Lessor. Lessee’s request for payment
shall be deemed Lessee’s acceptance and approval of the work furnished and/or the materials supplied as set forth in Lessee’s payment request. Within forty-five (45) days (provided that Lessor shall use commercially reasonable efforts
to perform with thirty (30) days) thereafter, Lessor shall deliver a check to Lessee (or, if so directed in writing as part of such monthly payment request by Lessee, to Contractor) in payment of the lesser of: (A) the amounts so requested
by Lessee, as set forth in this Section 2.2.2.1, above, less a ten percent (10%) retention (the aggregate amount of such retentions to be known as the “Final Retention”), and (B) the balance of any
remaining available portion of the Tenant Improvement Allowance (not including the Final Retention), provided that Lessor does not in good faith dispute any request for payment based on non-compliance of any
work with the “Approved Working Drawings,” as that term is defined in Section 3.4 below, or due to any substandard work. Lessor’s payment of such amounts shall not be deemed Lessor’s approval or
acceptance of the work furnished or materials supplied as set forth in Lessee’s payment request. 

2.2.2.2    Final Retention. Subject to the provisions of this Tenant Work Letter, a check for the Final Retention
shall be delivered by Lessor to Lessee Within forty-five (45) days (provided that Lessor shall use commercially reasonable efforts to perform with thirty (30) days) following the completion of construction of the Premises, provided that
(i) Lessee delivers to Lessor properly executed mechanics lien releases in compliance with both California Civil Code Section 8134 and either Section 8136 or Section 8138 from Lessee’s contractor, subcontractors and material
suppliers and any other party which has lien rights in connection with the construction of the Tenant Improvements, (ii) Lessor has not determined that substandard work exists which adversely affects the mechanical, electrical, plumbing,
heating, ventilating and air conditioning, life-safety or other systems of the Building, the curtain wall of the Building, the structure or exterior appearance of the Building, or any other tenant’s use of such other tenant’s leased
premises in the Building and (iii) Architect delivers to Lessor a certificate, in a form reasonably acceptable to Lessor, certifying that the construction of the Tenant Improvements in the Premises has been substantially completed. 

2.2.2.3    Other Terms. Lessor shall only be obligated to make disbursements from the Tenant Improvement Allowance
to the extent costs are incurred by Lessee for Tenant Improvement Allowance Items. All Tenant Improvement Allowance Items for which the Tenant Improvement Allowance has been made available shall be deemed Lessor’s property under the terms of
the Lease. 
 2.3    Standard Tenant Improvement Package. Lessor has established specifications (the
“Specifications”) for the Building standard components to be used in the construction of the Tenant Improvements in the Premises (collectively, the “Standard Improvement Package”), which Specifications shall be
supplied to Lessee by Lessor. The quality of Tenant Improvements shall be equal to or of greater quality than the quality of the Specifications, provided that Lessor may, at Lessor’s option exercised in good faith prior to Lessor’s
approval of the Final Working Drawings, require the Tenant Improvements to comply with certain Specifications. Lessor may make changes to the Specifications for the Standard Improvement Package from time to time. 

  

					
		 	 EXHIBIT B

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 SECTION 3 

CONSTRUCTION DRAWINGS 

3.1    Selection of Architect/Construction Drawings. Lessee shall retain the architect/space planner
selected by Lessee and reasonably approved by Lessor (the “Architect”) to prepare the “Construction Drawings,” as that term is defined in this Section 3.1. Lessor hereby approves of dB Construction
Consulting & Management as Architect. Lessee shall retain the engineering consultants selected by Lessee and reasonably approved by Lessor (the “Engineers”) to prepare all plans and engineering working drawings relating to
the structural, mechanical, electrical, plumbing, HVAC, lifesafety, and sprinkler work of the Tenant Improvements. The plans and drawings to be prepared by Architect and the Engineers hereunder shall be known collectively as the
“Construction Drawings.” All Construction Drawings shall comply with the drawing format and specifications as reasonably determined by Lessor, and shall be subject to Lessor’s approval, which approval shall not be unreasonably
withheld, conditioned or delayed. Notwithstanding anything set forth herein to the contrary, Lessor and Lessee hereby agree that it shall be deemed reasonable for Lessor to withhold its approval of the Construction Drawings if a “Design
Problem” exists. A “Design Problem” shall mean and refer to any design criteria which would (a) affect the Building structure or Building systems; (b) be in non-compliance with
Codes or other applicable laws; (c) be seen from the exterior of the Premises; (d) cause material interference with Lessor or other tenants of the Building, (e) not comply with Section 2.3 of this Tenant Work Letter;
(f) affect the certificate of occupancy or its legal equivalent for the Building or any portion thereof, or (g) not, in Lessor’s reasonable opinion, be readily useable for typical life science use by another tenant as a result of the
unique configuration contemplated by the Construction Drawings. Lessee and Architect shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the base Building plans, and Lessee and Architect shall be solely
responsible for the same, and Lessor shall have no responsibility in connection therewith. Lessor’s review of the Construction Drawings as set forth in this Section 3, shall be for its sole purpose and shall not imply Lessor’s review
of the same, or obligate Lessor to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Drawings are reviewed by Lessor or its space planner, architect, engineers and
consultants, and notwithstanding any advice or assistance which may be rendered to Lessee by Lessor or Lessor’s space planner, architect, engineers, and consultants, Lessor shall have no liability whatsoever in connection therewith and shall
not be responsible for any omissions or errors contained in the Construction Drawings, and Lessee’s waiver and indemnity set forth in the Lease, as amended, shall specifically apply to the Construction Drawings. 

3.2    Final Space Plan. Lessee and the Architect shall prepare the final space plan for Tenant Improvements
in the Premises (collectively, the “Final Space Plan”), which Final Space Plan shall include a layout and designation of all offices, rooms and other partitioning, their intended use, and equipment to be contained therein, and shall
deliver four (4) copies of the Final Space Plan to Lessor for Lessor’s approval. 
 3.3    Final Working
Drawings. The Architect and the Engineers shall complete the architectural and engineering drawings for the Premises, and the final architectural working drawings in a form which is complete to allow subcontractors to bid on the work and to
obtain all 

  

					
		 	 EXHIBIT B

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applicable permits (collectively, the “Final Working Drawings”) and shall submit two (2) copies of the same to Lessor for Lessor’s approval. 

3.4    Permits. The Final Working Drawings shall be approved by Lessor (the “Approved Working
Drawings”) prior to the commencement of the construction of the Tenant Improvements. Lessee shall submit the Approved Working Drawings to the appropriate municipal authorities for all applicable building permits necessary to allow
“Contractor,” as that term is defined in Section 4.1, below, to commence and fully complete the construction of the Tenant Improvements (the “Permits”), and, in connection therewith, Lessee shall coordinate with
Lessor in order to allow Lessor, at its option, to take part in all phases of the permitting process and shall supply Lessor, as soon as possible, with all plan check numbers and dates of submittal and obtain the Permits. Notwithstanding anything to
the contrary set forth in this Section 3.4, Lessee hereby agrees that neither Lessor nor Lessor’s consultants shall be responsible for obtaining any building permit or certificate of occupancy for the Premises and that the obtaining of the
same shall be Lessee’s responsibility; provided however that Lessor and Lessor’s project manager, Project Management Associates (“PMA”), shall, in any event, cooperate in good faith with Lessee in executing permit
applications and performing other ministerial acts reasonably necessary to enable Lessee to obtain any such permit or certificate of occupancy. No changes, modifications or alterations in the Approved Working Drawings may be made without the prior
written consent of Lessor, which shall not be unreasonably withheld. 
 SECTION 4 

CONSTRUCTION OF THE TENANT IMPROVEMENTS 

4.1    Lessee’s Selection of Contractors. 

4.1.1    The Contractor. A general contractor shall be retained by Lessee to construct the Tenant Improvements. Such
general contractor (“Contractor”) shall be selected by Lessee and reasonably approved by Lessor. Lessor hereby approves of dB Construction Consulting & Management as Contractor. 

4.1.2    Tenant’s Agents. All subcontractors, laborers, materialmen, and suppliers used by Lessee (such
subcontractors, laborers, materialmen, and suppliers, and the Contractor to be known collectively as “Tenant’s Agents”) shall be selected by Lessee and reasonably approved by Lessor. 

4.2    Construction of Tenant Improvements by Tenant’s Agents. 

4.2.1    Construction Contract; Cost Budget. Prior to Lessee’s execution of the construction contract and
general conditions with Contractor (the “Contract”), Lessee shall submit the Contract to Lessor for its approval, which approval shall not be unreasonably withheld or delayed. Prior to the commencement of the construction of the
Tenant Improvements, and after Lessee has accepted all bids for the Tenant Improvements, Lessee shall provide Lessor with a reasonably detailed breakdown, by trade, of the final costs expected to be incurred or which have been incurred, as set forth
more particularly in Sections 2.2.1.1 through 2.2.1.8, above, in 

  

					
		 	 EXHIBIT B

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connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Lessee or the Contractor, which costs form a basis for the amount of the Contract
(the “Final Costs”). Prior to the commencement of construction of the Tenant Improvements, Lessee shall identify the amount (the “Over-Allowance Amount”) equal to the difference between the amount of the Final Costs
and the amount of the Tenant Improvement Allowance (less any portion thereof already disbursed by Lessor, or in the process of being disbursed by Lessor, on or before the commencement of construction of the Tenant Improvements). Lessee shall pay, on
a monthly basis, a percentage of each amount disbursed by Lessor to the Contractor or otherwise disbursed under this Tenant Work Letter, which percentage shall be equal to the amount of the Over-Allowance Amount divided by the Final Costs, and such
payment by Lessee (the “Over-Allowance Payments”) shall be a condition to Lessor’s obligation to pay any further amounts of the Tenant Improvement Allowance. In the event that, after the Final Costs have been delivered by
Lessee to Lessor, the costs relating to the design and construction of the Tenant Improvements shall change, any additional costs necessary to such design and construction in excess of the Final Costs, shall be added to the Over-Allowance Amount and
the Final Costs, and the Over-Allowance Payments shall be recalculated in accordance with the terms of the immediately preceding sentence, but Lessee shall continue to provide Lessor with the documents described in
Sections 2.2.2.1 (i), (ii), (iii) and (iv) of this Tenant Work Letter, above, for Lessor’s approval, prior to Lessee paying such costs. Notwithstanding anything set forth in this Tenant Work Letter to the
contrary, construction of the Tenant Improvements shall not commence until (a) Lessor has approved the Contract, and (b) Lessee has procured and delivered to Lessor a copy of all Permits. 

4.2.2    Tenant’s Agents. 

4.2.2.1    Lessor’s General Conditions for Tenant’s Agents and Tenant Improvement Work. Lessee’s and
Tenant’s Agents’ construction of the Tenant Improvements shall comply with the following: (i) the Tenant Improvements shall be constructed in strict accordance with the Approved Working Drawings; (ii) Lessor’s rules and
regulations for the construction of improvements in the Building (provided that such rules and regulations have been provided to Lessee), (iii) Tenant’s Agents shall submit schedules of all work relating to the Tenant Improvements to
Contractor and Contractor shall, within five (5) business days of receipt thereof, inform Tenant’s Agents of any changes which are necessary thereto, and Tenant’s Agents shall adhere to such corrected schedule; and (iv) Lessee
shall abide by all commercially reasonable rules made by Lessor’s Building manager with respect to the use of freight, loading dock and service elevators, storage of materials, coordination of work with the contractors of other tenants, and any
other matter in connection with this Tenant Work Letter, including, without limitation, the construction of the Tenant Improvements. Lessee shall pay a logistical coordination fee (the “PMA Fee”) to Lessor in an amount equal to two
percent (2%) of the cost to design and construct the Tenant Improvements, which PMA Fee shall be for services relating to the coordination of the construction of the Tenant Improvements. In the event of a conflict between the Approved Working
Drawings and Lessor’s construction rules and regulations, Lessor, in its sole and absolute discretion, shall determine which shall prevail. 

4.2.2.2    Indemnity. Lessee’s indemnity of Lessor as set forth in the Lease shall also apply with respect to
this Tenant Work Letter, it being agreed by Lessor and Lessee that 

  

					
		 	 EXHIBIT B

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the design and construction of the Tenant Improvements shall be deemed to arise from the use and/or occupancy of the Premises by Lessee. 

4.2.2.3    Requirements of Tenant’s Agents. Each of Tenant’s Agents shall guarantee to Lessee and for
the benefit of Lessor that the portion of the Tenant Improvements for which it is responsible shall be free from any defects in workmanship and materials for a period of not less than one (1) year from the date of completion thereof. Each of
Tenant’s Agents shall be responsible for the replacement or repair, without additional charge, of all work done or furnished in accordance with its contract that shall become defective within such one (1) year period. The correction of
such work shall include, without additional charge, all additional expenses and damages incurred in connection with such removal or replacement of all or any part of the Tenant Improvements, and/or the Building and/or common areas that may be
damaged or disturbed thereby. All such warranties or guarantees as to materials or workmanship of or with respect to the Tenant Improvements shall be directly enforceable by Lessor, and Lessee covenants to give to Lessor any assignment or other
assurances which may be necessary to effect such right of direct enforcement. 
 4.2.2.4    Insurance
Requirements. 
 4.2.2.4.1    General Coverages. All of Tenant’s Agents shall carry worker’s
compensation insurance covering all of their respective employees, and shall also carry public liability insurance, including property damage, all with limits, in form and with companies as are required to be carried by Lessee as set forth in the
Lease. 
 4.2.2.4.2    Special Coverages. Lessee shall carry “Builder’s All Risk” insurance in an
amount reasonably approved by Lessor covering the construction of the Tenant Improvements, and such other insurance as Lessor may reasonably require, it being understood and agreed that the Tenant Improvements shall be insured by Lessee pursuant to
the Lease immediately upon completion thereof. Such insurance shall be in amounts and shall include such extended coverage endorsements as may be reasonably required by Lessor including, but not limited to, the requirement that all of Tenant’s
Agents shall carry excess liability and Products and Completed Operation Coverage insurance, each in amounts not less than $500,000 per incident, $1,000,000 in aggregate, and in form and with companies as are required to be carried by Lessee as set
forth in the Lease. 
 4.2.2.4.3    General Terms. Certificates for all insurance carried pursuant to this
Section 4.2.2.4 shall be delivered to Lessor before the commencement of construction of the Tenant Improvements and before the Contractor’s equipment is moved onto the site. All such certificates of insurance must
contain a provision that the company writing said policy will give Lessor thirty (30) days prior written notice of any cancellation or lapse of the effective date or any reduction in the amounts of such insurance. In the event that the Tenant
Improvements are damaged by any cause during the course of the construction thereof, Lessee shall immediately repair the same at Lessee’s sole cost and expense, subject to any then remaining portion of the Tenant Improvement Allowance.
Tenant’s Agents shall maintain all of the foregoing insurance coverage in force until the Tenant Improvements are fully completed, except for any Products and Completed Operation Coverage insurance required by Lessor, which is to be

  

					
		 	 EXHIBIT B

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	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 
maintained for ten (10) years following completion of the work and acceptance by Lessor and Lessee. All policies carried under this Section 4.2.2.4 shall insure
Lessor and Lessee, as their interests may appear, as well as Contractor and Tenant’s Agents. All insurance, except Workers’ Compensation, maintained by Tenant’s Agents shall preclude subrogation claims by the insurer against anyone
insured thereunder. Such insurance shall provide that it is primary insurance as respects the owner and that any other insurance maintained by owner is excess and noncontributing with the insurance required hereunder. The requirements for the
foregoing insurance shall not derogate from the provisions for indemnification of Lessor by Lessee under Section 4.2.2.2 of this Tenant Work Letter. 

4.2.3    Governmental Compliance. The Tenant Improvements shall comply in all respects with the following:
(i) the Code and other state, federal, city or quasi-governmental laws, codes, ordinances and regulations, as each may apply according to the rulings of the controlling public official, agent or other person; (ii) applicable standards of
the American Insurance Association (formerly, the National Board of Fire Underwriters) and the National Electrical Code; and (iii) building material manufacturer’s specifications. 

4.2.4    Inspection by Lessor. Lessee shall provide Lessor with reasonable prior notice of any inspection to be
performed by a governmental entity in connection with the construction of the Tenant Improvements in order to allow Lessor to be present during such inspection. Lessor shall have the right to inspect the Tenant Improvements at all reasonable times
after reasonable advanced notice, provided however, that Lessor’s failure to inspect the Tenant Improvements shall in no event constitute a waiver of any of Lessor’s rights hereunder nor shall Lessor’s inspection of the Tenant
Improvements constitute Lessor’s approval of the same. Should Lessor disapprove any portion of the Tenant Improvements, Lessor shall notify Lessee in writing of such disapproval and shall specify the items disapproved. Any defects or deviations
in the Tenant Improvements shall be rectified by Lessee at no expense to Lessor, subject to any then remaining portion of the Tenant Improvement Allowance, provided however, that in the event Lessor determines in good faith that a defect or
deviation exists in any portion of the Tenant Improvements and such defect or deviation might in Lessor’s commercially reasonable judgment adversely affect the mechanical, electrical, plumbing, heating, ventilating and air conditioning or
life-safety systems of the Building, the structure or exterior appearance of the Building or any other tenant’s use of such other tenant’s leased premises, Lessor may take such action as Lessor deems necessary, at Lessee’s expense,
subject to any then remaining portion of the Tenant Improvement Allowance, and without incurring any liability on Lessor’s part, to correct any such defect or deviation, including, without limitation, causing the cessation of performance of the
construction of the Tenant Improvements until such time as the defect or deviation is corrected to Lessor’s reasonable satisfaction. 

4.2.5    Meetings. Throughout the construction of the Tenant Improvements, Lessee shall hold weekly meetings at a
reasonable time, with the Architect and the Contractor regarding the progress of the preparation of Construction Drawings and the construction of the Tenant Improvements, which meetings shall be held at a location designated by Lessor (provided that
Lessor hereby approves of the Expansion Premises as the location of such meetings), and Lessor and/or its agents shall receive prior notice of, and shall have the right to attend, all such meetings, and, upon Lessor’s reasonable advance
request, certain of Tenant’s Agents shall attend 

  

					
		 	 EXHIBIT B

-9-
	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 
such meetings. In addition, minutes shall be taken at all such meetings, a copy of which minutes shall be promptly delivered to Lessor following request therefor. One such meeting each month
shall include the review of Contractor’s current request for payment. 
 4.3    Notice of Completion; Copy of
Record Set of Plans. Within ten (10) days after completion of construction of the Tenant Improvements, Lessee shall cause a Notice of Completion to be recorded in the office of the Recorder of the county in which the Building is located in
accordance with Section 8182 of the Civil Code of the State of California or any successor statute, and shall furnish a copy thereof to Lessor upon such recordation. If Lessee fails to do so, Lessor may execute and file the same on behalf of
Lessee as Lessee’s agent for such purpose, at Lessee’s sole cost and expense, subject to any then remaining portion of the Tenant Improvement Allowance. At the conclusion of construction, (i) Lessee shall cause the Architect and
Contractor (A) to update the Approved Working Drawings as necessary to reflect all changes made to the Approved Working Drawings during the course of construction, (B) to certify to their knowledge that the
“record-set” of as-built drawings are true and correct, which certification shall survive the expiration or termination of the Lease, and (C) to deliver
to Lessor four (4) sets of copies of such record set of drawings within ninety (90) days following issuance of a certificate of occupancy for the Expansion Premises, and (ii) Lessee shall deliver to Lessor a copy of all warranties,
guaranties, and operating manuals and information relating to the improvements, equipment, and systems in the Premises. 
 SECTION 5

 LANDLORD DELAY 

The time period set forth in Section 2 of the Fifth Amendment (i.e., sixty (60) days), shall be extended by the number of days of
delay of the “Substantial Completion of the Expansion Premises,” as that term is defined below, which results from a “Landlord Delay.” As used herein, “Landlord Delay” shall mean an actual delay resulting from
(i) the failure of Lessor to provide Contractor or any of Contractor’s subcontractors timely access to the Premises to construct the Tenant Improvements; (ii) unreasonable interference by Lessor with the construction of the Tenant
Improvements by Contractor which objectively preclude construction of tenant improvements in the Premises; (iii) delays due to the failure of Lessor to timely pay the Tenant Improvement Allowance, except as otherwise permitted by the terms of
this Tenant Work Letter, (iv) the failure of Lessor to timely approve or disapprove any Construction Drawings within the prescribed response period set forth herein; and (v) any other unreasonable act or omission of Lessor which is not
permitted by the terms of this Tenant Work Letter and which causes an actual delay in the Substantial Completion of the Expansion Premises. If Lessee contends that a Landlord Delay has occurred, Lessee shall notify Lessor in writing (the
“Delay Notice”) of the event which constitutes such Landlord Delay. If the actions or inactions or circumstances described in the Delay Notice qualify as a Landlord Delay, and are not cured by Lessor within two (2) days after
Lessor’s receipt of the Delay Notice, then the sixty (60) day period set forth in Section 2(ii) of the Fifth Amendment shall be extended by the number of days by which the Substantial Completion of the Expansion Premises is actually
delayed as a result of such Landlord Delay. For purposes of this Fifth Amendment, “Substantial Completion of the Expansion Premises” shall occur upon the completion of construction of the Tenant Improvements in the Expansion
Premises pursuant to the 

  

					
		 	 EXHIBIT B

-10-
	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 Approved Working Drawings, with the exception of any punch list items and any telephones and computers and
any cabling related thereto, photocopying machines, moveable work-stations, equipment or other items of personal property to be installed by Lessee or under the supervision of Contractor.. 

SECTION 6 

MISCELLANEOUS 

6.1    Freight Elevators. Lessor shall, at no cost to Lessee, consistent with its obligations to other
tenants of the Building, make the freight elevator reasonably available to Lessee in connection with construction of the Tenant Improvements and the initial decorating, furnishing and moving into the Premises. 

6.2    Lessee’s Representative. Lessee has designated Kevin Sun as its sole representative with respect
to the matters set forth in this Tenant Work Letter, who, until further notice to Lessor, shall have full authority and responsibility to act on behalf of the Lessee as required in this Tenant Work Letter. 

6.3    Lessor’s Representative. Lessor has designated Jeff Sobczyk of PMA as its sole representative
with respect to the matters set forth in this Tenant Work Letter, who, until further notice to Lessee, shall have full authority and responsibility to act on behalf of Lessor as required in this Tenant Work Letter. 

6.4    Time of the Essence in This Tenant Work Letter. Unless otherwise indicated, all references herein to
a “number of days” shall mean and refer to calendar days. In all instances where Lessee is required to approve or deliver an item, if no written notice of approval is given or the item is not delivered within the stated time period, at
Lessor’s sole option, at the end of such period the item shall automatically be deemed approved or delivered by Lessee and the next succeeding time period shall commence. 

6.5    Lessee’s Lease Default. Notwithstanding any provision to the contrary contained in the Lease, as
amended, if an event of default, beyond any applicable notice and cure period set forth in the Lease, as amended, under the Lease, as amended, or a default by Lessee, beyond any applicable notice and cure period set forth in the Lease, as amended,
under this Tenant Work Letter, has occurred at any time on or before the Substantial Completion of the Expansion Premises, then (i) in addition to all other rights and remedies granted to Lessor pursuant to the Lease, Lessor shall have the
right to withhold payment of all or any portion of the Tenant Improvement Allowance and/or (ii) Lessor may cause Contractor to cease the construction of the Expansion Premises (in which case, Lessee shall be responsible for any delay in the
Substantial Completion of the Expansion Premises caused by such work stoppage), in either case until such time as such default is cured pursuant to the terms of the Lease. 

  

					
		 	 EXHIBIT B

-11-
	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 EXHIBIT C 

SUPERIOR RIGHT HOLDERS 
 Coi
Pharmaceuticals, Inc. has a right of first refusal and a right of first offer on all space in Building. 
 Boundless Bio, Inc. has a right of first offer on
any rentable space on second floor in the Building. 

  

					
		 	 EXHIBIT C

-1-
	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]

 EXHIBIT D 

HOLDBACK SPACE 
  

 

  

					
		 	 EXHIBIT D

-1-
	 	 FIFTH AMENDMENT TO LEASE

[11099 North Torrey Pines Road]

[DermTech, Inc.]Exhibit

December 2, 2019
Jeff Loebbaka

Re:    Severance Agreement and Release
Dear Jeff:
Consistent with our recent discussions to mutually terminate your role as the Executive Vice President, Global Sales and to transition your responsibilities to another executive as the Chief Executive Officer shall designate, this letter agreement (“Letter Agreement”) confirms that your employment with Plantronics, Inc. and its affiliates (also branded as “Poly”) (collectively, the “Company”) is being terminated based on our mutual agreement. We hope that the information contained in this Letter Agreement will help you to transition to other opportunities.
This Letter Agreement summarizes the terms of your separation from the Company and release between you and the Company. The purpose of this Letter Agreement is to establish an amicable arrangement for ending your employment relationship, for you to release the Company of any claims and to resolve any disputes you may have with the Company regarding your employment or separation from that employment, and to permit you to receive severance pay and related benefits to the extent specified below. With these understandings, and in exchange for the promises of you and the Company as set forth below, you and the Company agree as follows:
Terms Related To Employment Separation
1.Employment Status:  Your employment will end on December 2, 2019 (“Separation Date”). On the Separation Date you will be paid all of your wages earned, but unpaid, through the Separation Date. During the time-period between the date of this Letter Agreement and the Separation Date (“Transition Period”), you will no longer be the Executive Vice President, Global Sales, you will continue to be registered in our systems as an “Employee,” and you will not be required to be on onsite at the Company’s headquarter(s) on a full-time basis, however during the Transition Period, you agree to perform transitional duties, as reasonably assigned by the Chief Executive Officer and/or as reasonably necessary to ensure an orderly transition of your responsibilities. You will also continue to receive your present base salary during the Transition Period, unless you are terminated for “Cause,” in which case payment of your base salary shall terminate as of the date of termination. You shall also continue to be eligible for all employee benefits and reimbursement of expenses until the Separation Date unless you are terminated for Cause or resign. For the purposes of this Agreement, termination for “Cause” shall have the same meaning as set forth in Section 6(a) of the Executive Severance Agreement entered into by and between you and the Company effective as of June 15, 2018 (“Severance Agreement”). Should you be terminated for Cause during the Transition Period, the Company will not be required to and shall not provide you with the Severance Benefits set forth in Section 8 of this Letter Agreement.
2.Reaffirmation of Prior Agreements:  You reaffirm your commitment under any prior agreements you signed with the Company, including the Employee Patent, Secrecy and Invention Agreement (“EPSIA”)/Employee Confidential Information and Invention Assignment Agreement (“ECIIAA”), and any successor thereto (all prior agreements you entered into with the Company, including the Equity Agreements as defined below, are collectively referred to here as the “Company Agreements”). As part of this Letter Agreement, 

you will comply fully with the terms of the Company Agreements. You also confirm that you have not violated any Company Agreements.
3.Board, Officer, and/or Director Positions:  You agree that you will resign as of the date of this Letter Agreement from all Company boards and/or Officer or Director positions, and pursuant to such resignation and this Letter Agreement confirms that your authority and responsibility for any Company “policymaking function” (as that term is used in Rule 16a-1 to the Rules and Regulations to the Securities Exchange Act of 1934) immediately ceases upon your resignation from these positions. In addition, any indemnification related to time served in those positions will remain for the time served in those positions prior to the Separation Date.
4.Company Property:  You agree that other than with respect to your Company-provided cell phone, on or before the Separation Date, you will return to the Company all Company property and materials, including but not limited to (if applicable), computers, laptops, fax machines, scanners, copiers, cellular phones, Company credit cards and telephone charge cards, manuals, building keys and passes, courtesy parking passes, USB or other removable drives, hard drives, software programs and data compiled with the use of those programs, software passwords or codes, tangible copies of trade secrets and confidential information, sales forecasts, names and addresses of Company customers and potential customers, customer lists, customer contacts, sales information, sales forecasts, memoranda, sales brochures, business or marketing plans, reports, projections, and any and all other information or property previously or currently held or used by you that is or was related to your employment with the Company (“Company Property”). Other than your Company-provided cell phone, which you will be permitted to retain after the Company has been able to wipe it clean of any Company information, you agree that in the event that you discover any other Company Property in your possession after your Separation Date, you will immediately return such materials to the Company.
5.Proprietary Information:  You also acknowledge that in your role with the Company, you may have had access to and received information which is confidential and proprietary to the Company (“Proprietary Information”). You agree to keep all such Proprietary Information strictly confidential, and not to share this information with subsequent employers, competitors or any other person. You agree the Company has no adequate remedy at law if you violate the terms of this confidentiality provision. In such event, the Company will have the right, in addition to any other right it may have, to seek injunctive relief to restrain any breach or threatened breach by you. You agree to defend, indemnify and hold the Company harmless from and against all claims, actions, damages, losses and liabilities, including reasonable attorneys’ fees and expenses, arising out of any breach of your obligations under this provision. Nothing in this Letter Agreement is intended to discourage or restrict you from reporting any theft of Trade Secrets pursuant to the Defend Trade Secrets Act of 2016 (“DTSA”) or other applicable state or federal law. The DTSA prohibits retaliation against an employee because of whistleblower activity in connection with the disclosure of Trade Secrets, so long as any such disclosure is made either (i) in confidence to an attorney or a federal, state, or local government official and solely to report or investigate a suspected violation of the law, or (ii) under seal in a complaint or other document filed in a lawsuit or other proceeding.  If you believe that any employee or any third party has misappropriated or improperly used or disclosed Trade Secrets or Confidential Information, you should report such activity to EVP, Chief Human Resources Officer, 345 Encinal St., Santa Cruz, CA 95060. This Letter Agreement is in addition to and not in lieu of any obligations to protect the Company’s Proprietary Information pursuant to the Employee Handbook or other written policies of the Company. Nothing in this Letter Agreement shall limit, curtail or diminish the Company’s statutory rights under the DTSA, any applicable state law regarding trade secrets or common law.
6.Final Pay:  On or about the Separation Date, you will receive your final base pay (subject to applicable tax withholdings and other deductions) attributable to services performed but not yet paid through the Separation Date. You agree that you will submit to the Company all final requests for reimbursement of any business expenses you were required to incur in performing your job for the Company prior to your Separation Date in accordance with applicable Company policy. You understand and agree that all such reimbursements 

will be subject to the terms and conditions of the Company’s then current Travel and Expense Reimbursement policy and other applicable policies and procedures.
7.Benefits & Benefit Plan Participation: All employee benefits and participation in the Company’s benefits and group benefit plans will end on the Separation Date, except that your medical insurance benefits will continue through the end of the month in which you terminate employment, if permitted under the terms of the applicable health plan. Thereafter, you will have the right to continue participating in the Company’s group health plans under the federal law known as “COBRA,” provided that you timely elect COBRA continuation coverage and timely pay the full COBRA premium due following the period of time set forth in Section 8(d) below that the Company ceases payment of such premium. A notice of your rights under COBRA, COBRA premium information and COBRA election form(s) will be sent to your home address on file with the Company.
a.Equity:  Your restricted stock, restricted stock units, performance stock units and any underlying shares of Plantronics, Inc. stock remain subject to the terms and conditions of the applicable agreement(s) signed by you and the terms and conditions of the Company’s 2003 Stock Plan (the “Equity Agreements”). The Company acknowledges that your “service” for all purposes under the Equity Agreements will continue uninterrupted until your Separation Date. Please see the Stock Closing Statement contained in your exit packet for a report regarding the status of your equity awards.
b.Stock Trading:  You may continue to sell vested shares acquired through equity awards or the ESPP through your E*Trade account at www.etrade.com/stockplans. If you need phone assistance with your transaction, you may reach E*Trade at (800) 838-0908 or (650) 599‐0125. You will be required to obtain pre-clearance for three (3) months after your Separation Date. You may sell vested shares during open window periods as long as you are not in possession of material non-public information during the open window periods. You may not sell during our closed windows during this three (3) month time period. After the three (3) months expires, you may sell during any open or closed window period as long as you are not in possession of material non-public information.
Terms Related To Severance Benefits and Release Agreement
8.Severance Benefits:  Excluding the pay and benefits set forth above, you are not otherwise entitled to receive any severance pay from the Company. However, in gratitude for your service and in exchange for, and in consideration of, your full execution and return of this Letter Agreement within twenty-one (21) days from the date of this Letter Agreement, and provided that you do not revoke the Letter Agreement under Section 11 below, the Company will pay or provide as follows (the “Severance Benefits”):
a.Severance Pay:  The Company will pay you a lump-sum cash payment equal to twelve (12) months of your annual base salary, or $458,000, following your Separation Date, payable on the first regular payroll date following sixty (60) days after the Separation Date.
b.Bonus:  The Company will pay you a lump-sum cash payment equal to $435,100, which is the amount of your annual target incentive bonus for the year in which the Separation Date occurs, payable on the first regular payroll date following sixty (60) days after the Separation Date.
c.Additional Cash Amount: The Company will pay you an additional lump-sum cash payment equal to $20,000, payable on the first regular payroll date following sixty (60) days after the Separation Date.
d.COBRA:  If you timely elect continued group health plan continuation coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company will pay the full amount of your premiums on your behalf for continued coverage under the Company’s group health plans, including coverage for your eligible dependents, for twelve (12) months from the Separation Date (calculated from 

the first day of the month following your Separation Date) or until such earlier date on which you becomes eligible for health coverage from another employer.
e.Outplacement:  The Company agrees to provide you standard outplacement services in a manner as determined by the Company for a twelve (12)-month period of time. This benefit must be initiated by you within three (3) months of signing this Letter Agreement. No cash payment will be made in lieu of such services.
Each of the Severance Benefits described above are, in all cases, subject to the terms and conditions of the Severance Agreement and will be subject to (i) any required tax withholdings, (ii) any garnishment, support or withholding orders required by law, and (iii) any debt obligation you owe to the Company as of the Separation Date. Subject to the release becoming effective, the amount of the cash Severance Benefits as set forth above will be paid to you as described above subject to the end of the Revocation Period.
9.Release:  In exchange for the Severance Benefits and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, you agree as follows:
a.You and your representatives, agents, estate, heirs, successors and assigns, absolutely and unconditionally hereby release, remise, discharge, and hold harmless the Company Releasees (“Company Releasees” defined to include the Company and/or any of its parents, subsidiaries or affiliates, predecessors, successors or assigns, and its and their respective current and/or former partners, directors, shareholders/stockholders, officers, employees, employee benefit plans, insurers, attorneys and/or agents, all both individually and in their official capacities), from any and all legally waivable actions or causes of action, suits, claims, complaints, contracts, liabilities, agreements, promises, torts, debts, damages, controversies, judgments, rights and demands, whether existing or contingent, known or unknown, suspected or unsuspected, which arise out of your employment with, change in employment status with, and/or separation of employment from, the Company. This release is intended by you to be all-encompassing and to act as a full and total release of any legally waivable claims, whether specifically enumerated herein or not, that you may have or have had against the Company Releasees arising from conduct occurring up to and through the date you signed this Letter Agreement, including, but not limited to, any legally waivable claims arising from any federal, state or local law, regulation or constitution dealing with either employment, employment benefits or employment discrimination including any claims or causes of action you have or may have relating to discrimination under federal, state or local statutes including, but not limited to, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act of 1990, Title VII of the Civil Rights Act of 1964, the Employee Retirement Income Security Act of 1974, the Americans with Disabilities Act, the Family and Medical Leave Act, the California Fair Employment and Housing Act, the Fair Labor Standards Act, the California Labor Code, all as amended from time to time, any contract, whether oral or written, express or implied; any tort; any claim for equity or other benefits; or any other statutory and/or common law claim.
b.You acknowledge that your execution of this Letter Agreement shall be effective as a bar to each and every claim specified in Section 9(a) of this Letter Agreement. Accordingly, you hereby expressly waive any and all rights and benefits conferred upon you by the provisions of Section 1542 of the California Civil Code (or analogous statute(s) from any other state) and expressly consent that this Letter Agreement shall be given full force and effect with respect to each and all of its express terms and provisions, including those related to unknown and/or unsuspected claims, if any, as well as those relating to any other claims specified in Section 9(a) of this Letter Agreement. Section 1542 provides as follows:
“A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release, and that if known by him or her would have materially affected his or her settlement with the debtor or released party.”

You further represent that you understand and acknowledge the significance and consequence of such release as well as the specific waiver of Section 1542.
c.The release in this Section of this Letter Agreement does not include any claim which, as a matter of law, cannot be released by private agreement, or relates to indemnification protection under the Company’s Articles of Incorporation or Bylaws, pursuant to contract or applicable law. Further, as described in the following Section, this release does not prevent or prohibit you from filing a claim with a federal, state or local government agency that is responsible for enforcing a law on behalf of the government.  
10.Government Agency Claims:  Nothing in this Letter Agreement, including the release or the Nondisparagement or Confidentiality provisions below restricts or prohibits you from initiating communications directly with, responding to any inquiries from, providing testimony before, providing confidential information to, reporting possible violations of law or regulation to, or from filing a claim or assisting with an investigation directly with a self-regulatory authority or a government agency or entity, including the U.S. Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board, the Department of Justice, the Securities and Exchange Commission, the Congress, the California Department of Fair Employment and Housing, or any other federal, state or local government agency (collectively, the “Regulators”), or from making other disclosures that are protected under the whistleblower provisions of state or federal law or regulation. However, to the maximum extent permitted by law, you are waiving your right to receive any individual monetary relief from the Company or any others covered by the release resulting from such claims or conduct, regardless of whether you or another party has filed them, and in the event you obtain such monetary relief the Company will be entitled to an offset for the payments made pursuant to this Letter Agreement. This Letter Agreement does not limit your right to receive an award from any Regulator that provides awards for providing information relating to a potential violation of law. You do not need the prior authorization of the Company to engage in conduct protected by this paragraph, and you do not need to notify the Company that you have engaged in such conduct. Please take notice that federal law provides criminal and civil immunity to federal and state claims for trade secret misappropriation to individuals who disclose a trade secret to their attorney, a court, or a government official in certain, confidential circumstances that are set forth at 18 U.S.C. Sections 1833(b)(1) and 1833(b)(2), related to the reporting or investigation of a suspected violation of the law, or in connection with a lawsuit for retaliation for reporting a suspected violation of the law.
		
	11.
	Waiver of Rights and Claims Under the Age Discrimination in Employment Act of 1967:

As required by federal law, you are being informed that you have or may have specific rights under the Age Discrimination in Employment Act of 1967 (“ADEA”) and you agree that:
a.in consideration for the Severance Benefits, which you are not otherwise entitled to receive, you specifically and voluntarily waive all rights and claims under the ADEA you might have against the Company Releasees to the extent such rights and/or claims arose prior to the date this Letter Agreement was executed;
b.you are advised that you have twenty-one (21) days within which to consider the terms of this Letter Agreement and to consult with or seek advice from an attorney of your choice or any other person of your choosing prior to executing this Letter Agreement. The twenty-one (21)-day review period will not be affected or extended by any revisions, whether material or immaterial, that might be made to this Letter Agreement;
c.you have carefully read and fully understand all of the provisions of this Letter Agreement, and you knowingly and voluntarily agree to all of the terms set forth in this Letter Agreement;
d.you have seven (7) days after you sign this Letter Agreement to revoke your acceptance of it (“Revocation Period”). If you choose to revoke it timely, the Letter Agreement will be null and void and the Letter Agreement shall not be valid or enforceable. To revoke, you must deliver a signed writing stating 

your intention to revoke the Letter Agreement and the writing must be delivered to EVP, Chief Human Resources Officer, 345 Encinal St., Santa Cruz, CA 95060, by or before the end of the Revocation Period; and
e.in entering into this Letter Agreement you are not relying on any representation, promise or inducement made by the Company or its attorneys with the exception of those promises described in this document.
12.Nondisparagement:  Except as described in Section 10, and not including any testimony given truthfully under oath or as required by any other legal proceeding, you agree not to make disparaging, critical or otherwise detrimental comments to any person or entity concerning the Company, its officers, directors or employees; the products, services or programs provided or to be provided by the Company; the business affairs, operation, management or the financial condition of the Company; or the circumstances surrounding your employment and/or separation of employment from the Company. Similarly, the Company agrees, and agrees to inform its executive officers and members of its Board of Directors that they are bound through the Company’s agreement in this regard (but only for so long as each officer or member is an employee or director of the Company), not to make disparaging, critical or otherwise detrimental comments to any person or entity concerning you or your relationship with the Company.
13.Confidentiality:  Except as described in Section 10 and disclosed in any regulatory filings the Company files with the Securities and Exchange Commission, you agree that you will not disclose to others the fact or terms of this Letter Agreement, except that you may disclose such information to your attorney or accountant in order for such individuals to render services to you.
14.Cooperation:  Except as described in Section 10, you agree to make yourself reasonably available to the Company to respond to requests by the Company for information pertaining to or relating to the Company and/or its subsidiaries, affiliates, partners, directors, officers, agents or employees that may be within your knowledge. Moreover, you agree to cooperate fully, to the extent reasonable in light of your then-existing professional and personal obligations, with the Company in connection with any and all existing or future litigation or investigations brought by or against the Company or any of its subsidiaries, affiliates, partners, directors, officers, agents or employees, whether administrative, civil or criminal in nature, in which and to the extent the Company deems your cooperation necessary.
15.Non-Solicitation of Employees: You agree that for a period of twelve (12) months following your Separation Date, you shall not, either personally or in conjunction with others, solicit, interfere with, or endeavor to cause anyone employed by the Company whom you supervised, with whom you worked in providing service to customers, or about whom you received confidential information, in any such case within the last twelve (12) months preceding the termination of your employment with Company, to leave such employment.  Nothing in this Section is meant to prohibit an employee of Company that is not a party to this Agreement from becoming employed by another person or entity.
16.No Filing of Claims:  You represent and warrant that you do not presently have on file any claims, charges, grievances, actions, appeals or complaints against Company Releasees in or with any administrative, state, federal or governmental entity, agency, board or court, or before any other tribunal or arbitrator(s), public or private, based upon any actions occurring prior to the date of this Letter Agreement.
17.Tax Compliance:  Notwithstanding anything to the contrary herein, the following provisions apply to the extent payments provided herein are subject to section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and other guidance thereunder and any state law of similar effect (collectively, “Section 409A”). Payments that are payable upon your termination of employment, if any, shall not commence until you have a “separation from service” for purposes of Section 409A. Each installment of payments hereunder is a separate “payment” for purposes of Section 409A, and the benefits payable under this Letter Agreement are intended to satisfy the exemptions from application of Section 409A provided under Treasury Regulations Sections 1.409A-1(b)(4) and 1.409A-1(b)(9). However, if such exemptions are 

not available and you are, upon separation from service, a “specified employee” for purposes of Section 409A, then, solely to the extent necessary to avoid adverse personal tax consequences under Section 409A, the timing of the payments shall be delayed until the earlier of (a) six (6) months and one day after your separation from service, or (b) your death. Except to the minimum extent that payments must be delayed because you are a “specified employee,” all amounts will be paid as soon as practicable in accordance with the Company’s normal payroll practices pursuant to the payment schedule set forth in this Letter Agreement. If and to the extent that reimbursements or other in-kind benefits under this Letter Agreement constitute “nonqualified deferred compensation” for purposes of Section 409A, such reimbursements or other in-kind benefits shall be made or provided in accordance with the requirements of Section 409A. You will be solely responsible for any tax imposed under Section 409A and in no event will the Company have any liability with respect to any tax, interest or other penalty imposed under Section 409A.
18.Certain Covenants and Representations; Governing Law:
a.You acknowledge that you have carefully read and fully understand all of the provisions of this Letter Agreement, and you knowingly and voluntarily agree to all of the terms set forth in this Letter Agreement; and in entering into this Letter Agreement you are not relying on any representation, promise or inducement made by the Company or its attorneys with the exception of those promises described in this document.
b.Except as explicitly provided herein, this Letter Agreement sets forth the complete and sole agreement between the parties and supersedes any and all other agreements or understandings, whether oral or written, between you and the Company. As such, the Company Agreements and the Equity Agreements referenced herein shall remain in full force and effect in accordance with their respective terms. This Letter Agreement may not be changed, amended, modified, altered or rescinded except upon the express written consent of both the CEO of the Company and you.
c.If any provision of this Agreement, or part thereof, is, to any extent, held illegal, invalid, incapable of being enforced, void or voidable as against public policy, or otherwise, such provision, or part thereof, shall be excluded to the extent of such invalidity or unenforceability and all other provisions of this Agreement shall remain in full force and effect; and, to the extent permitted and possible, the invalid or unenforceable provision, or part thereof, shall be deemed replaced by a provision that is valid and enforceable and that comes closest to expressing the intention of such invalid or unenforceable term. Moreover, if a court declines to amend this Agreement as provided herein, the invalidity or unenforceability of any provision of this Agreement, or part thereof, shall not affect the validity or enforceability of the remaining provisions, which shall be enforced as if the offending provision had not been included in this Agreement. To this extent, the provisions and parts thereof of this Agreement are declared to be severable. Any claims arising out of this Letter Agreement (or any other claims arising out of the relationship between the parties) shall be governed by and construed in accordance with the laws of the State of California and shall in all respects be interpreted, enforced and governed under the internal and domestic laws of California, without giving effect to the principles of conflicts of laws of such state.
d.ARBITRATION:  THE PARTIES AGREE THAT ANY AND ALL DISPUTES ARISING OUT OF THE TERMS OF THIS LETTER AGREEMENT, THEIR INTERPRETATION AND ANY OF THE MATTERS HEREIN RELEASED, SHALL BE SUBJECT TO BINDING ARBITRATION BEFORE JAMS PURSUANT TO THE THEN CURRENT EXPEDITED RULES OF JAMS UNDER ITS RULE FOR RESOLUTION OF EMPLOYMENT DISPUTES. THE RULES OF JAMS CAN BE FOUND AT www.jamsadr.org. THE DECISION OF THE ARBITRATOR SHALL BE FINAL, CONCLUSIVE AND BINDING ON THE PARTIES TO THE ARBITRATION. THE PARTIES HEREBY AGREE TO WAIVE THEIR RIGHT TO HAVE ANY DISPUTE BETWEEN THEM RESOLVED IN A COURT OF LAW BY A JUDGE OR JURY. HOWEVER, EITHER PARTY MAY BRING A CLAIM IN COURT FOR PRELIMINARY INJUNCTIVE RELIEF ONLY ARISING OUT OF A BREACH BY THE OTHER PARTY OF THE EMPLOYEE PATENT SECRECY AGREEMENT SIGNED BY YOU. 

e.This Letter Agreement shall not be construed as an admission by you or the Company of any wrongful act, unlawful discrimination, or breach of contract.
f.You acknowledge that, together with damages and any other relief that may be appropriate, you will be subject to a permanent injunction and/or temporary restraining order for any violations of this Letter Agreement, including any violations of any Company Agreements. In the event that the Company prevails in any action brought by the Company to enforce any provision of this Agreement or any Company Agreements (including but not limited to an action for a permanent injunction or a temporary restraining order), you agree that you will pay the Company’s costs, including attorneys’ fees, in addition to any other damages or amounts that may be awarded.
g.You may not assign any of your rights or delegate any of your duties under this Letter Agreement. The rights and obligations of the Company shall inure to the benefit of the Company’s successors and assigns.
h.The failure or any delay on the part of the Company to exercise any right, remedy, power or privilege under this Letter Agreement shall not operate as a waiver thereof, nor shall any single or partial exercise of any right preclude any other or further exercise of the same or of any other right, nor shall any waiver of any right with respect to any occurrence be construed as a waiver of such right with respect to any other occurrence.
i.This Letter Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which taken together will constitute one and the same instrument.
If this Letter Agreement correctly states the agreement and understanding we have reached, please indicate your acceptance by countersigning the enclosed copy and returning it to EVP, Chief Human Resources Officer, 345 Encinal St., Santa Cruz, CA 95060 no later than twenty-one (21) days from the date of this Letter Agreement.

Plantronics, Inc.

By: /s/ Anja Hamilton
Name:  Anja Hamilton
Title:  EVP, Chief Human Resources Officer

I REPRESENT THAT I HAVE READ THE FOREGOING LETTER AGREEMENT, THAT I FULLY UNDERSTAND THE TERMS AND CONDITIONS OF SUCH LETTER AGREEMENT AND THAT I AM KNOWINGLY AND VOLUNTARILY EXECUTING THE SAME WITHOUT DURESS OR COERCION FROM ANY SOURCE. IN ENTERING INTO THIS LETTER AGREEMENT, I DO NOT RELY ON ANY REPRESENTATION, PROMISE OR INDUCEMENT MADE BY THE COMPANY OR ITS REPRESENTATIVES WITH THE EXCEPTION OF THE CONSIDERATION DESCRIBED IN THIS DOCUMENT.

Accepted and Agreed to:

/s/ Jeff Loebbaka
Jeff Loebbaka
Date: 12/6/2019

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