Document:

EX-10.27

   

  Exhibit 10.27

  FIRST AMENDMENT

  (2929 Seventh Street, Berkeley, California)

  This First Amendment (this “Amendment”), dated as of January II, 2022, is entered into by and between 2929 SEVENTH ST., LLC, a California limited liability company (“Landlord”), and CARIBOU BIOSCIENCES, INC., a Delaware corporation (“Tenant”).

  Recitals

  A. Landlord and Tenant entered into that certain Amended and Restated Office/Laboratory dated March 31, 202I (the “Lease”), whereby Tenant leases certain space known as Suites 100, 105, 110, and 120 and consisting of approximately 61,73 5 square feet of Rentable Area (the “Premises”) within the building located at 2929 Seventh Street, Berkeley, California (the “Building”).

  B. Dated concurrently with this Amendment, Landlord's affiliate, 7th Street Property Ill General Partnership, a California general partnership, as landlord, and Tenant, have entered into that certain Office/Laboratory, whereby Tenant shall lease the entirety of the building located at 2895 Seventh Street, Berkeley, California, and consisting of approximately 10,000 square feet of Rentable Area (the “2895 Seventh Street Premises”).

  C. In order to accommodate Tenant's parking requirements at the 2895 Seventh Street Premises, but not overburden the parking available for all tenants of the Campus, Landlord and Tenant have agreed to reduce the parking spaces available for Tenant's use at the Building in order for Tenant to have such parking spaces available for its use at the 2895 Seventh Street Premises, on the following terms and conditions.

  NOW THEREFORE, in consideration of the foregoing and the mutual covenants contained herein, the parties agree as follows:

  Agreement

  1. Definitions; Recitals. Unless otherwise specified herein, all capitalized terms used in this Amendment are used as defined in the Lease. The parties acknowledge the truthfulness of the foregoing Recitals, which are hereby incorporated into this Amendment.

  2. Inconsistencies. To the extent that there are any inconsistencies between the terms of the Lease and this Amendment, the terms of this Amendment shall control.

  3. Parking. Section 1.1(12) of the Lease is hereby deleted and replaced with the following:

  (12) PARKING:

  (a) Up to 83 parking spaces in the following parking areas:

   

  1

  

   

  Lot located on

  East Side of Building (the “East Lot”):

  44 spaces reserved for the exclusive use of Tenant (the “Building Spaces”)

  Parking structures located within the Campus

  as shown on Exhibit A-2 hereto (“Aquatic Park Lot”):

  39 unreserved spaces

  (b) The rates for the parking spaces shall be as follows:

   

  The Building Spaces (44 spaces): $0.00/space/month, through December 31, 2023; thereafter, commencing as of January 1, 2024, $61.00/space/month, through December 31, 2025; thereafter, commencing as of January 1, 2026, at the standard prevailing monthly rates being charged from time to time by Landlord or its parking operator without regard to discounts provided to any other occupants of the Building (the “Standard Parking Rates”)

  30 spaces: $61.00/space/month, through December 31, 2025; thereafter, commencing as of January 1, 2026, at the Standard Parking Rates

  9 spaces: At the Standard Parking Rates. The current rate for unreserved parking spaces is $135.00/space/month.

  (c) Use of 999/2919 Lot. Tenant shall be permitted to use the 999/2919 Lot (identified as “Area A” on Exhibit A-2 to this Lease) solely for use of the EV charging stations, and only when Tenant’s employees’ vehicles are actively charging (the “EV Charging Rights”).  Landlord may revoke the EV Charging Rights at any time during the Term upon not less than thirty (30) days’ prior written notice to Tenant.

  4. Miscellaneous.

  (a) This Amendment sets forth the entire agreement between the parties with respect to the matters set forth herein. There have been no additional oral or written representations or agreements. Under no circumstances shall Tenant be entitled to any Rent abatement, improvement allowance, leasehold improvements, or other work to the Premises, or any similar economic incentives that may have been provided Tenant in connection with entering into the Lease, unless specifically set forth in this Amendment.

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

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

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

  2

  

   

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

   

  (f) This Amendment may be executed in counterparts each of which counterparts when taken together shall constitute one and the same agreement. Any facsimile, PDF or other electronic signature shall constitute a valid and binding method for executing this Amendment. Executed counterparts of this Amendment exchanged by facsimile transmission, PDF email, or other electronic means shall be fully enforceable.

  IN WITNESS WHEREOF, the parties have executed this Amendment as of the date set forth above.

   

  		
	TENANT:
	LANDLORD:

	CARIBOU BIOSCIENCES, INC. ,
	2929 SEVENTH ST., LLC,

	a Delaware corporation
	a California limited liability company

   

   

  3EX-10.29

   

  Exhibits 10.29

  RIDER 1

  COMMENCEMENT DATE AGREEMENT

  Wareham-NZL, LLC, a California limited liability company (“Landlord”), and Caribou Biosciences, a Delaware Corporation (“Tenant”), have entered into a certain Office/Laboratory Lease dated as of January 11, 2022 (the “Lease”). 

  WHEREAS, Landlord and Tenant wish to confirm and memorialize the Commencement Date of the Lease as provided for in Section 2.2 of the Lease; 

  NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained herein and in the Lease, Landlord and Tenant agree as follows: 

  1.Unless otherwise defined herein, all capitalized terms shall have the same meaning ascribed to them in the Lease. 

  2.The Commencement Date (as defined in the Lease) of the Lease is January 13, 2022. 

  3.Tenant hereby confirms the following: 

  (a)That it has accepted possession of the Premises pursuant to the terms of the Lease; and 

  (b)That the Lease is in full force and effect. 

  4.Except as expressly modified hereby, all terms and provisions of the Lease are hereby ratified and confirmed and shall remain in full force and effect and binding on the parties hereto. 

  5.The Lease and this Commencement Date Agreement contain all of the terms, covenants, conditions and agreements between Landlord and Tenant relating to the subject matter herein.  No prior other agreements or understandings pertaining to such matters are valid or of any force and effect. 

   

  

   

   

  Rider 1-2EX-10.31

  	                       	 

   

  Exhibit 10.31

  February 11, 2022

   

  Rachel E Haurwitz

  XXXXXXXXX

  XXXXXXXXX

   

  Dear Rachel:

   

  I am pleased to announce that the Caribou Board of Directors has approved a bonus based on the Company’s achievements in 2021. You will receive a one-time payment of $319,069, less applicable withholding taxes, on February 22, 2022. Congratulations! Additionally, your base salary has been increased to $605,000, effective January 1, 2022. Your February 15, 2022 paycheck will reflect your new salary as well as a retroactive payment back to January 1 for your salary increase. Your target bonus will be 55% in 2022 for your role as President and CEO. 

   

  2021 was a pivotal year for the Company as we signed a license and collaboration agreement with AbbVie, closed the Series C financing, and became a publicly traded company. Additionally, as publicly disclosed in July, the first patient was dosed in Caribou’s Phase 1 ANTLER clinical trial for our allogeneic anti-CD19 CAR-T cell therapy (CB-010). The other members of the Board and I are grateful to you for your hard work and your achievements in 2021. Caribou has the exciting and challenging opportunity to transform the field of medicine with our product candidates. Only through the continued collective efforts of the herd will we achieve our ambitious 2022 goals. 

   

  All other terms and conditions of your employment are governed by the Officer Employment Agreement between you and the Company, dated July 27, 2021. Thank you again for your contributions to the Company’s accomplishments in 2021. Please let Cindy know if you wish to contribute to your 401(k) account from your bonus payment. 

   

  I am excited about all we will accomplish together in 2022!

   

   

  Best regards,

   

  /s/ Barbara G.  McClung

  Barbara G. McClung

  Chief Legal Officer and Corporate Secretary

  Caribou Biosciences, Inc., 2929 7th Street, Suite 105, Berkeley, CA 94710; (510) 982-6030EX-10.33

   

  Exhibit 10.33

   

   

  	 

  Confidential

  January 5, 2021

   

  Jason O’Byrne

  XXXXXXXXX

  XXXXXXXXX

  XXXXXXXXX

   

   

  RE:	Offer of Employment with Caribou Biosciences, Inc.

  Dear Jason:

  On behalf of Caribou Biosciences, Inc. (the “Company” or “Caribou”), I am pleased to invite you to join the Company as Chief Financial Officer, reporting to Rachel E. Haurwitz, President and Chief Executive Officer. The first day of your employment will be February XX, 2021 or such other date as you and the Company mutually agree in writing.

  The terms of this offer of employment are as follows:

  1.Compensation. If you decide to join us, you will be paid an annual salary of $385,000.00 which will be paid twice a month in accordance with the Company’s normal payroll procedures. As a Caribou employee, you will also be eligible to receive certain employee benefits. The details of these employee benefits are explained in the attached Description of Benefits. You are eligible for performance-based incentives after evaluation by the Caribou management team. Currently, the target bonus for your position is set at 35%. Evaluations are typically done on an annual basis. You should note that the Company may modify job titles, wages and benefits from time to time at its sole discretion. 

   

  The Company will pay you a one-time, contingency payment of $70,000.00, if the Company closes a Series C financing of at least $50 million, and payable only in the event that you do not receive a bonus for 2020 from your current employer. You will receive this payment within fifteen (15) calendar days after the Series C financing closes if you are an employee on that date, or with the next Company’s payroll if you join the Company after that date. If you choose to leave the Company prior to one (1) year from the date of the contingency payment or your employment is terminated for cause prior to one (1) year from the date of the contingency payment, you will be responsible for repaying the Company the contingency payment subject to a reduction for each month of employment. (For example, if you leave the Company six (6) months after the date of the contingency payment, you will owe the Company $35,000.00.) 

  2.Stock Option Grant. In addition, if you decide to join the Company, it will be recommended to the Company’s Board of Directors that the Company grant you an option to 

  Caribou Biosciences, Inc., 2929 7th Street, Suite 105, Berkeley, CA 94710; (510) 982-6030

  

   

  purchase a number of shares of the Company’s Common Stock representing one percent (1%) of the Company’s total number of fully diluted shares on the date of the grant at a price per share equal to the fair market value per share of the Common Stock on the date of grant as determined by the Company’s Board of Directors. Twenty-five percent (25%) of the shares subject to the option grant shall vest 12 months after the date your vesting begins subject to your continuing employment with the Company, and no shares shall vest before the one-year cliff. The remaining shares subject to the option grant shall vest monthly thereafter (1/48 of the grant per month for the 36 months following the one-year cliff) subject to your continuing employment with the Company. The stock option grant shall be subject to the terms and conditions of the Company’s Equity Incentive Plan and Stock Option Agreement, including vesting requirements (the “Stock Agreements”). No right to any stock is earned or accrued until such time that vesting occurs, nor does the grant confer any right to continue vesting or employment. If the total number of fully diluted shares of Common Stock increases after the date of the grant due to the Company’s Series C financing, you will receive an additional stock option grant so that your combined option grants to purchase a number of shares of the Company’s Common Stock represent one percent (1%) of the Company’s total number of fully diluted shares, subject to the same vesting schedule and at a price per share equal to the fair market value per share of the Common Stock on the date of grant as determined by the Company’s Board of Directors.  

  3.Officer Employment Agreement. The Company is excited about your joining and looks forward to a beneficial and productive relationship. As an Officer of the Company, the terms and conditions of your employment will be as set forth in the enclosed Officer Employment Agreement to be executed by you and the Company. Additionally, your employment will be covered by an Indemnification Agreement.

  4.Immigration. For purposes of federal immigration law, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within three (3) business days of your first day of employment with Caribou, or the Company may terminate your employment.

  5.Prior Employment/Third Party Information. We also ask that, if you have not already done so, you disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the Company or limit the manner in which you may be employed. It is the Company’s understanding that any such agreements will not prevent you from performing the duties of your position and you represent that such is the case. Moreover, you agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company. Similarly, you agree not to bring any third party confidential information to the Company, including that of your former employer, and that in performing your duties for the Company you will not in any way utilize any such information.

  6.Company Rules and Policies. As a Company employee, you will be expected to abide by the Company’s rules and policies and to acknowledge receipt of the same. 

  Caribou Biosciences, Inc., 2929 7th Street, Suite 105, Berkeley, CA 94710; (510) 982-6030

  

   

  7.Confidential Information and Invention Assignment Agreement. As a condition of your employment, you are also required to sign and comply with a Confidential Information and Invention Assignment Agreement (“Confidentiality Agreement”), which requires, among other provisions, the assignment of patent rights to any invention made during your employment at the Company and non‐disclosure of Company confidential information. A copy of the Confidentiality Agreement is attached hereto. Please note that we must receive your signed Confidentiality Agreement on or before the first day of your employment with the Company.

  8.General. This Offer Letter together with the Officer Employee Agreement, Confidentiality Agreement, Indemnification Agreement, and Stock Agreements (if the above-referenced stock option grant is approved by the Board), when signed by you, set forth the terms of your employment with the Company and supersede any and all prior representations and agreements including, but not limited to, any representations made during your recruitment, interviews or pre-employment negotiations, whether written or oral. Any amendment of this Offer Letter or any waiver of a right under this Offer Letter must be in a writing signed by you and an officer of the Company. California law will govern this Offer Letter.

   

  In the event of a conflict between the terms and provisions of this Offer Letter and the Officer Employee Agreement, Confidentiality Agreement, and/or Stock Agreements, the terms and provisions of the Officer Employee Agreement will control.  

  9.Confidential Offer of Employment. Until you have accepted this offer of employment, the terms of this offer (including compensation) should only be disclosed and discussed with your significant other, attorney, accountant, and/or tax advisor. 

  To accept the Company’s offer of employment, please sign and date this letter in the space provided below. This offer of employment will terminate if the Offer Letter is not accepted, signed and returned by you to the Company on or before January 8, 2021. We look forward to your favorable reply and to working with you at Caribou Biosciences, Inc. 

   

  	
	Sincerely,

	 

	/s/ Rachel E. Haurwitz

	Rachel E. Haurwitz, Ph.D.

	President and CEO

   

  Caribou Biosciences, Inc., 2929 7th Street, Suite 105, Berkeley, CA 94710; (510) 982-6030

  

   

   

  		
	Agreed to and accepted:

	Signature:
	/s/ Jason V. O'Byrne

	Printed Name:
	Jason O'Byrne

   

  		
	Date:
	1/06/2021

	 
	 

	Enclosures:

	Officer Employment Agreement

	Indemnification Agreement 

	Confidential Information and Invention Assignment Agreement

	Description of Benefits

   

  Caribou Biosciences, Inc., 2929 7th Street, Suite 105, Berkeley, CA 94710; (510) 982-6030

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