Document:

EXHIBIT 10.2

 

FIFTH AMENDMENT TO LEASE AGREEMENT

THIS FIFTH AMENDMENT TO LEASE AGREEMENT (this "Amendment") is made and entered into as of April 12, 2013, by and between BRANDYWINE RESEARCH LLC, a Delaware limited liability company ("Landlord"), and EMERGENT BIOSOLUTIONS INC., a Delaware corporation ("Tenant").

A.            Landlord and Tenant are parties to a Lease Agreement (the "Original Lease") dated June 27, 2006, as amended by a First Amendment to Lease Agreement dated as of November 13, 2007, a Second Amendment to Lease Agreement (the "Second Amendment") dated as of December 13, 2010, a Third Amendment to Lease Agreement (the "Third Amendment") dated as of February 27, 2012, and a Fourth Amendment to Lease Agreement (the "Fourth Amendment") dated as of March 27, 2013 (the Original Lease as so amended is referred to herein as the "Current Lease"), for the Premises containing approximately 41,409 rentable square feet of space commonly known as Suites 220, 350 and 400 in the Building located at 2273 Research Boulevard, Rockville, Maryland 20850. The Current Lease as amended by this Amendment is referred to herein as the "Lease".

B.            Landlord and Tenant wish to amend the Current Lease upon the terms and conditions set forth herein.

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

1.            Incorporation of Recitals; Definitions. The recitals set forth above are hereby incorporated herein by reference as if set forth in full in the body of this Amendment. Capitalized terms used but not otherwise defined in this Amendment shall have the respective meanings given to them in the Current Lease.

2.            Early Termination Options.

(a)     Section 2 of the Fourth Amendment, Section 7 of the Third Amendment, Section 7 of the Second Amendment, and Section 35 of the Original Lease are hereby deleted in their entireties and replaced with Section 2(b) below.

(b)    Tenant shall have a one-time right to terminate the Lease effective on January 31, 2015 provided Tenant: (i) is not then in default beyond any applicable notice and cure period under the Lease; (ii) gives written notice of such termination to Landlord no later than March 31, 2014; and (iii) pays to Landlord, at the time of such termination notice, $436,570.59 ("Termination Payment"). Time is of the essence with respect to the dates and deadlines set forth herein. Failure to provide written notice and payment within the prescribed timeframe will be considered by Landlord, without the necessity of additional notice, as a waiver of this right to terminate. Tenant acknowledges and agrees that the Termination Payment is not a penalty and is fair and reasonable compensation to Landlord for the loss of expected rentals from Tenant over the remainder of the scheduled Term. If Tenant timely and properly exercises the termination option in accordance with this paragraph, the Lease and the Term shall come to an end on January 31, 2015 with the same force and effect as if the Term were fixed to expire on such date.

3.            Fixed Rent.

(a)    Effective on June 1, 2013, Tenant shall pay to Landlord Fixed Rent with respect to Suite 220, which encompasses 8,109 square feet of rentable area, as follows, payable in the monthly installments as set forth below and otherwise in accordance with the terms of the Lease:

	
 

Time Period

	 	
Annual Fixed Rent Per Rentable Square Foot of Premises

	 	 	
Annualized Fixed Rent

	 	 	
Monthly Fixed Rent

	 
	
6/1/13 – 2/28/14

	 	
$

	
25.50

	 	 	
$

	
206,779.50

	 	 	
$

	
17,231.63

	 
	
3/1/14 – 2/28/15

	 	
$

	
26.20

	 	 	
$

	
212,455.80

	 	 	
$

	
17,704.65

	 
	
3/1/15 – 2/28/16

	 	
$

	
26.92

	 	 	
$

	
218,294.28

	 	 	
$

	
18,191.19

	 
	
3/1/16 – 12/31/16

	 	
$

	
27.66

	 	 	
$

	
224,294.94

	 	 	
$

	
18,691.25

	 

(b)    Effective on June 1, 2013, Tenant shall pay to Landlord Fixed Rent with respect to Suite 350, which encompasses 10,428 square feet of rentable area,  as follows, payable in the monthly installments as set forth below and otherwise in accordance with the terms of the Lease:

	
 

Time Period

	 	
Annual Fixed Rent Per Rentable Square Foot of Premises

	 	 	
Annualized Fixed Rent

	 	 	
Monthly Fixed Rent

	 
	
6/1/13 – 11/30/13

	 	
$

	
25.50

	 	 	
$

	
265,914.00

	 	 	
$

	
22,159.50

	 
	
12/1/13 – 11/30/14

	 	
$

	
26.20

	 	 	
$

	
273,213.60

	 	 	
$

	
22,767.80

	 
	
12/1/14 – 11/30/15

	 	
$

	
26.92

	 	 	
$

	
280,721.76

	 	 	
$

	
23,393.48

	 
	
12/1/15 – 11/30/16

	 	
$

	
27.66

	 	 	
$

	
288,438.48

	 	 	
$

	
24,036.54

	 
	
12/1/16 – 12/31/16

	 	
$

	
28.42

	 	 	
$

	
296,363.76

	 	 	
$

	
24,696.98

	 

(c)    Effective on June 1, 2013, Tenant shall pay to Landlord Fixed Rent with respect to Suite 400, which encompasses 22,872 square feet of rentable area, as follows, payable in the monthly installments as set forth below and otherwise in accordance with the terms of the Lease:

	
 

Time Period

	 	
Annual Fixed Rent Per Rentable Square Foot of Premises

	 	 	
Annualized Fixed Rent

	 	 	
Monthly Fixed Rent

	 
	
6/1/13 – 11/30/13

	 	
$

	
25.50

	 	 	
$

	
583,236.00

	 	 	
$

	
48,603.00

	 
	
12/1/13 – 11/30/14

	 	
$

	
26.20

	 	 	
$

	
599,246.40

	 	 	
$

	
49,937.20

	 
	
12/1/14 – 11/30/15

	 	
$

	
26.92

	 	 	
$

	
615,714.24

	 	 	
$

	
51,309.52

	 
	
12/1/15 – 11/30/16

	 	
$

	
27.66

	 	 	
$

	
632,639.52

	 	 	
$

	
52,719.96

	 
	
12/1/16 – 12/31/16

	 	
$

	
28.42

	 	 	
$

	
650,022.24

	 	 	
$

	
54,168.52

	 

(d)    Rent shall be payable to Landlord by: (i) check sent to Landlord at P.O. Box 11951, Newark, NJ 07101-4951; or (ii) wire/ACH transfer of immediately available funds to the account at Wells Fargo Bank, N.A., Salem, NJ account no. 2030000359075 ABA # 121000248, or as otherwise directed in writing by Landlord to Tenant.

4.            Condition of Premises. Tenant acknowledges and agrees that Landlord shall have no obligation under the Lease to make any improvements to or perform any work in the Premises, or provide any improvement allowance, and Tenant accepts the Premises in their current "AS IS" condition.

5.            Brokerage Commission. Landlord and Tenant each represents and warrants to the other that such party has had no dealings, negotiations or consultations with respect to this Amendment with any broker or finder other than a Landlord affiliate. Each party shall indemnify and hold the other harmless from and against all liability, cost and expense, including attorneys' fees and court costs, arising out of any misrepresentation or breach of warranty under this paragraph.

6.            Effect of Amendment; Ratification. Landlord and Tenant hereby acknowledge and agree that, except as provided in this Amendment, the Current Lease has not been modified, amended, canceled, terminated, released, superseded or otherwise rendered of no force or effect. The Current Lease is hereby ratified and confirmed by the parties hereto, and every provision, covenant, condition, obligation, right, term and power contained in and under the Current Lease shall continue in full force and effect, affected by this Amendment only to the extent of the amendments and modifications set forth above. In the event of any conflict between the terms and conditions of this Amendment and those of the Current Lease, the terms and conditions of this Amendment shall control.

7.            Representations. Each of Landlord and Tenant represents and warrants to the other that the individual executing this Amendment on such party's behalf is authorized to do so. Tenant hereby represents and warrants to Landlord that there are no defaults by Landlord or Tenant under the Current Lease, nor any event that with the giving of notice or the passage of time, or both, will constitute a default under the Current Lease.

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

	
 

	
LANDLORD:

	
 

	
BRANDYWINE RESEARCH LLC

	
 

	
 

	
 

	
 

	
 

	
By:       /s/ K. Suzanne Stumpf

	
 

	
Name:  Suzanne Stumpf

	
 

	
Title:    Vice President, Asset Management

	
 

	
Date:    4/12/13

	
 

	
 

	
 

	
TENANT:

	
 

	
EMERGENT BIOSOLUTIONS INC.

	
 

	
 

	
 

	
 

	
 

	
By:       /s/ Robert Kramer

	
 

	
Name:  Robert Kramer

	
 

	
Title:    Executive Vice President and Chief Financial Officer

	
 

	
Date:    4/10/13Translation Agreement
  
 
 This Translation Agreement ("Agreement") is made effective as of November 23, 2012 ("Effective Date")
  
 THE PARTIES TO THIS AGREEMENT ARE:
  
 THE CONTRACTOR:         TRADUCTION SYLLATRA
                                                4745 Cleroux Suite 4               
                                               Laval, Qc, Canada, H7T 3C1
  
 THE COMPANY:               ANYTRANSLATION CORP.
                                              2620 S Maryland Parkway, #14
                                              Las Vegas, NV, 89109    
  
 THE CONTRACTOR WISHES TO OFFER ITS TRANSLATIONS SERVICES THROUGH COMPANY WEB SITE.
  
 Parties acknowledge that the promises made by Contractor and Company set forth below constitute full and adequate mutual consideration. Based on such mutual consideration, Parties agree as follows:
  
 RELATIONSHIP BETWEEN PARTIES.
  
 Contractor serves as an independent contractor of Company in the performance of Contractor's Services under this Agreement. Nothing contained or implied in this Agreement creates a relationship of employer-employee between Company and Contractor nor does it create a joint venture, partnership, or similar relationship between Company and Contractor. Contractor is free from direction and control over the means and manner of providing the Services, subject only to the right of Company to specify the desired results.
  
 LANGUAGES
  
 The contractor will be requested to translate documents and other materials from French to English and vice versa. The contractor will be responsible of correcting the project after it has been proofread by the Company’s proofreaders. 
  
 COMPENSATION AND PAYMENT.
  
 Compensation for selling the translations services according to this agreement will be:
  
 Company agrees to pay Contractor the fee(s) set forth in each project assignment for Services. Payment in full must be made by Company to Contractor no later than 30 days from receipt of invoice by the method of payment specified in writing between the Parties.
 Page 1
  
 CONFIDENTIALITY.
  
 Information is deemed Confidential Information if, given the nature of Company's business, a reasonable person would consider such information confidential. Contractor agrees: (a) to exercise the same degree of care as he/she accords to his/her own confidential information, but in no case less than reasonable care, and (b) to use Confidential Information which Company provides to Contractor only for the performance of Services for Company and not for Contractor's own benefit. Notwithstanding any other provision in this Agreement, Company has the right to immediately terminate this Agreement in the event of any breach of this provision.
  
 TERM AND TERMINATION.
  
 This Agreement shall continue in effect for the longer of one (1) year following the Effective Date. Either Party may terminate this Agreement at any time upon 30 days' written notice sent to the other Party. In the event of such termination, the Parties agree to act in good faith toward one another during the notice period. In the event of termination of this Agreement, Contractor must provide Company, and Company must pay Contractor for, all Services performed through the date of termination; Company is not obligated to pay Contractor any other compensation, severance, or other benefit whatsoever.
  
 COMPLETE AGREEMENT.
  
 This is the complete agreement of the parties as to the subject matter hereof. Any changes in this Translation Agreement must be in writing signed by both parties. This Agreement becomes a binding contract only upon signature by both parties and the delivery of fully signed copies to each party.
  
  
 Company:  Andrei Catalin Ispas                                                                                                                                                                         Contractor:  Roland Asmar
  
 /s/ ANDREI CATALIN ISPAS                                                                                                                                                                         /s/   ROLAND ASMAR
                                                                                                                                                             
 Director                                                                                                                                                                                                              CEO
 Page 2

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