Document:

Exhibit 10.58

EXECUTION COPY

SECOND AMENDMENT TO SECOND AMENDED AND RESTATED
CREDIT AGREEMENT 

This SECOND AMENDMENT TO THE
SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”)
is entered into as of June 7, 2007 and amends in certain respects that certain
Second Amended and Restated Credit Agreement, dated as of June 29, 2006, by and
among WILLIS LEASE FINANCE CORPORATION, a
Delaware corporation (the “Borrower”), each of the financial
institutions that is, or pursuant to the terms thereof may become, a party as a
Bank thereto (individually, a “Bank”, and collectively, the “Banks”),
NATIONAL CITY BANK (“NatCity”),
in its capacity as Administrative Agent for the Banks (the “Administrative
Agent”) and as Security Agent for the Banks (as successor to Fortis Bank
(Nederland) N.V., the “Security Agent”), as amended by that certain
First Amendment to Second Amended and Restated Credit Agreement and Joinder
Agreement, dated as of December 13, 2006, by and among the Borrower, the Banks,
the Administrative Agent and the Security Agent (as the same may from time to
time be amended, supplemented or otherwise modified, the “Credit Agreement”).

W I T N E S S E T H:

WHEREAS,
pursuant to a memorandum from the Borrower dated April 27, 2007 (the “Amendment
Request”), a copy of which is annexed here to as Exhibit A, the
Borrower has requested the consent of the Agents and the Banks to reduce the
rate of interest on the Loans provided under the Credit Agreement and extend
the maturity date on the Loans, as well as certain other matters; and

WHEREAS,
the Agents and the Banks are willing to provide such consent, subject to the
terms and conditions hereinafter set forth.

NOW, THEREFORE,
for good and valuable consideration, the receipt and adequacy of which are
hereby acknowledged, the parties hereto agree as follows:

Section
1.  Defined Terms.  Capitalized terms used and not otherwise
defined herein shall have the respective meanings ascribed to them in the
Credit Agreement.

Section
2.  Amendments to Credit Agreement.  Pursuant to section 11.05 of the Credit
Agreement, and subject to the terms and conditions of this Amendment,
including, without limitation, Section 3 and Section 4 hereof, the Agents and
the Banks by their signatures below hereby agree that the Credit Agreement
shall be amended as follows:

Section 2.1.           Amendment to Certain Defined Terms.  Section 1.01 of the Credit Agreement is
hereby amended as follows:

(a)           With respect to the definition of “Applicable Margin,” by amending and
restating the table therein to read in its entirety as follows:

	
  

  	
   

  	
  Base Rate Loans

  	
   

  	
  LIBOR Loans

  	
   

  
	
  If the Total Leverage
  Ratio is less than 4.0

  	
   

  	
  0.0

  	
  %

  	
  1.75

  	
  %

  
	
  If the Total Leverage Ratio is equal to or greater than 4.0

  	
   

  	
  0.25

  	
  %

  	
  2.25

  	
  %

  

 

(b)           With respect to the definition of “Commitment Termination Date,” by deleting “June 30, 2008”
and inserting in lieu thereof “June 30, 2009”.

(c)           With respect to the definition of “LIBOR,” by deleting the parenthetical “(rounded
upwards, if necessary, to the nearest 1/16 of 1%)” in each instance where it
appears therein.

 

(d)           With respect to the definition of “LIBOR Loan,” by deleting “LIBOR Rate” and
inserting in lieu thereof “Adjusted LIBOR Rate”.

(e)           With respect to the definition of “LIBOR Reserve Percentage,” by deleting “LIBOR
Rate” and inserting in lieu thereof “Adjusted LIBOR Rate”.

(f)            With respect to the definition of “Post-Default Rate,” by deleting “LIBOR
Rate” and inserting in lieu thereof “Adjusted LIBOR Rate”.

Section 2.2.           Addition of Certain Defined Terms.  Section 1.01 of the Credit Agreement is
hereby amended by inserting in the appropriate alphabetical order the following
defined term:

“‘Adjusted LIBOR Rate’
shall mean, with respect to any LIBOR Loan, LIBOR divided by one minus the
LIBOR Reserve Percentage.”

Section 2.3.           Amendment relating to Revolving Loans; Commitment; Term
Loans.  Section 2.01(a) is hereby
amended by deleting “two hundred fifty million ($250,000,000)” and inserting in
lieu thereof “three hundred million ($300,000,000)”.

Section 2.4.           Amendment relating to Fees.  Section 2.05(a) is hereby amended by deleting
“0.50% per annum” and inserting in lieu thereof “(i) 0.50% per annum, if the
Unused Commitment is equal to or less than 50%, or (ii) 0.25% per annum, in the
Unused Commitment is greater than 50%,”.

Section  2.5.          Amendment
relating to Interest.         Clause
(i) of Section 2.10(a) is hereby amended by deleting “LIBOR Rate” and inserting
in lieu thereof “Adjusted LIBOR Rate”.

Section 2.6.           Amendment relating to Indebtedness. Section 7.01(d)
of the Credit Agreement is hereby amended by deleting “$342,000,000” and
inserting in lieu thereof “$600,000,000”.

Section 2.7.           Amendment relating to Redemptions; Dividends.  The proviso in Section 7.07(a) of the Credit
Agreement is hereby amended by adding “its issued and outstanding shares of
Preferred Stock, at an aggregate cost to the Borrower for such repurchase in
any calendar year (commencing with the calendar year 2007) not to exceed
$5,000,000, or” immediately following the reference to “repurchase” in the
first line thereof.

Section 2.8.           Amendment relating to Additional Banks.  Section 10.01 of the Credit
Agreement is hereby amended by adding “To the extent permitted by Section
2.01(a),” at the beginning of the first sentence thereof.

Section 2.9.           Amendment relating to Modifications, Consents
and Waivers; Entire Agreement.  Section
11.05(a) of the Credit Agreement is hereby amended by deleting “Section 2.01”
and inserting in lieu thereof “Section 2.01(a)” in the first proviso
therein.

Section
2.10.        Amendment
relating to Schedules.  Schedule
1.01(c) of the Credit Agreement is hereby amended as follows:

(a)           With
respect to clause (a) thereof, by adding “, Mexico” immediately following the
reference therein to “United States”.

(b)           With respect to clause (d) thereof, by
(i) deleting the parenthetical “(including Mexico),” (ii) deleting each other
reference therein to “Mexico” and (iii) deleting “25%” and inserting in lieu
thereof “30%”.

(c)           With respect to clause (f) thereof:

(i)            by adding “in Mexico or” immediately
following the reference to “chief executive offices are” in the third line
thereof.

 2
 

 

(ii)           by amending and restating the first proviso
therein to read in its entirety as follows:

“provided that the aggregate amount includible
in the Asset Base of Net Book Value of Eligible Engines and Eligible Equipment
subject to Eligible Leases to Lessees domiciled or whose chief executive
offices are located in (A) any one of the following countries shall not
exceed 20% of the Asset Base: (I) the People’s Republic of China or (II) Brazil
and (B) any one of the following countries shall not exceed 15% of the
Asset Base: (I) Mexico, (II) Republic of India or (III) South Korea.”

Section 3.              Representations
and Warranties.  In
order to induce the Agents and the Banks to execute this Amendment, the
Borrower hereby represents and warrants to the Agents and the Banks as follows,
which representations and warranties shall survive the execution and delivery
of this Amendment:

(a)           The
information provided in the Amendment Request is true and complete.

(b)           All
representations and warranties of the Borrower set forth in the Credit
Agreement are true and correct in all material respects as if made on and as of
the date hereof and will be true and correct after giving effect to Section 2
hereof as if restated at and as of the date thereof (except in each case for
representations and warranties which by their terms are expressly applicable to
an earlier date, in which event such representations and warranties shall be
true and correct as of such earlier date).

(c)           It
has power, and is duly authorized, to execute and deliver this Amendment, and
to perform its obligations hereunder.

(d)           It
has taken all necessary action (corporate or otherwise) to authorize this
Amendment, and the execution, delivery and performance by it of this Amendment
will not (i) violate or conflict with any provision of law or any rule or
regulation, (ii) violate or conflict with any provision of its certificate
of incorporation, or its by-laws or operating agreement, (iii) violate or
conflict with or result in a breach of any order, writ, injunction, ordinance,
resolution, decree, or other similar document or instrument of any court or
Governmental Authority, bureau or agency, domestic or foreign, or create (with
or without the giving of notice or lapse of time, or both) a default under or
breach of any agreement, bond, note or indenture to which it is a party, or by
which it is bound or any of its properties or assets are affected or
(iv) result in the imposition of any Lien of any nature whatsoever upon
any of its properties or assets owned by or used in connection with its
business, except for the Liens created and granted pursuant to the Security
Documents.

(e)           This
Amendment has been duly executed and delivered by the Borrower and constitutes
the legal, valid and binding obligations of the Borrower, enforceable against
the Borrower in accordance with its terms.

(f)            No
consent or approval of any Person (including, without limitation, any
stockholder of the Borrower), other than any such consent or approval a copy of
which has been delivered in form and substance satisfactory to the
Administrative Agent, no filing with, action by, consent or approval of any
landlord or mortgagee, no waiver of any Lien or right of distraint or other
similar right and no filing with, action by, consent, license, approval,
authorization or declaration of any Governmental Authority, bureau or agency,
is or will be required in connection with the execution, delivery or
performance by the Borrower or the validity, enforcement or priority, of this
Amendment (or any Lien created and granted or reaffirmed hereunder).

(g)           No
Default or Event of Default has occurred and is continuing, or, after giving
effect to this Amendment, shall exist.

(h)           No
Material Adverse Change has occurred in the condition (financial or otherwise,
determined pursuant to GAAP), operations, assets, income or prospects of the
Borrower or its Subsidiaries since June 30, 2006.

 3
 

 

Section 4.  Effectiveness.  The effectiveness of the amendments set forth
in Section 2 of this Amendment shall be conditioned upon the fulfillment to the
satisfaction of the Administrative Agent of each of the following conditions:

(a)           The Administrative Agent shall have
received counterparts of this Amendment executed by each of the parties
required to execute the same pursuant to the Credit Agreement and the other
Loan Documents.

(b)           The Administrative Agent shall have
received certificates of the Secretary or an Assistant Secretary of the
Borrower certifying (i) that attached thereto is a true and complete copy of
resolutions adopted by the its Board of Directors authorizing the execution,
delivery and performance of this Amendment and any other instrument, agreement
or document to be executed by it in connection herewith, and (ii) as to the
incumbency and genuineness of the signature of the officer of the Borrower
executing this Amendment and any other instrument, agreement or documents
executed in connection herewith, in form and substance satisfactory to the
Administrative Agent.

(c)           Each of the Banks, or the
Administrative Agent on behalf of each Bank, shall have received the fee to
which such Bank is entitled in accordance with Annex A hereto.

Section 5.  Reference
to and Effect on Loan Documents.  On and after the effective date of this
Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“hereof”, “herein” or words of like import, and each reference in the other
Loan Documents to the Credit Agreement, shall mean and be a reference to the
Credit Agreement as amended hereby.  This
Amendment shall constitute a Loan Document within the definition thereof in the
Credit Agreement.

Section
6.              Miscellaneous
Provisions.

Section
6.1            Reaffirmation
of Security Interest.  The Borrower hereby reaffirms as of the date
hereof each and every security interest and Lien granted in favor of the
Security Agent and the Banks under the Loan Documents, and agrees and
acknowledges that such security interests and Liens shall continue from and
after the date hereof and shall remain in full force and effect from and after
the date hereof, in each case after giving effect to the Credit Agreement as
amended by this Amendment, and the Obligations secured thereby and thereunder
shall include the Borrower’s obligations under the Credit Agreement as amended
by this Amendment.  Each such reaffirmed
security interest and Lien remains and shall continue to remain in full force
and effect and is hereby in all respects ratified and confirmed.

Section 6.2.           Further Assurances. 
Each of the parties hereto hereby agrees, at the sole cost and expense
of the Borrower, to do such further acts and things and to execute, deliver and
acknowledge such additional agreements, powers and instruments as any party
hereto may reasonably require to carry into effect the purposes of this
Amendment.

Section 6.3.           Costs and Expenses. 
The Borrower hereby agrees to pay all costs and expenses of the Agents
(including attorneys’ fees and expenses) incurred in connection with the
negotiation, preparation, execution and delivery of this Amendment.

Section 6.4.           Governing Law. 
THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE
NEW YORK GENERAL OBLIGATIONS LAW BUT OTHERWISE WITHOUT REGARD TO CONFLICT OF
LAWS PRINCIPLES.

Section 6.5.           Severability. 
The invalidity, illegality or unenforceability in any jurisdiction of
any provision in or obligation under this Amendment shall not affect or impair
the validity, legality or enforceability of the remaining provisions or
obligations under this Amendment or of such provision or obligation in any
other jurisdiction.  To the extent
permitted by applicable law, the parties hereby waive any provision of law
which renders any provision hereof prohibited or unenforceable in any respect.

Section 6.6.           Counterparts. 
This Amendment may be executed in two or more counterparts

 4
 

 

(and by different parties on separate counterparts),
each of which shall be an original, but all of which together shall constitute
one and the same instrument.  Execution
and delivery of this Amendment by facsimile transmission shall constitute
execution and delivery of this Amendment for all purposes, with the same force
and effect as execution and delivery of an originally manually signed copy
thereof.

Section 6.7.           Headings; Binding Effect. 
The headings of the several sections of this Amendment are inserted for
convenience only and shall not in any way affect the meaning or construction of
any provision of this Amendment.  The
provisions of this Amendment shall inure to the benefit of and be binding upon
the parties hereto and their respective permitted successors and assigns.

Section 6.8.           Consultation with Advisors.  The Borrower acknowledges that
it has consulted with counsel and with such other experts and advisors as it
has deemed necessary in connection with the negotiation, execution and delivery
of this Amendment.  This Amendment shall
be construed without regard to any presumption or any rule requiring that it be
construed against the party causing this Amendment or any part hereof to be
drafted.

Section 6.9.           Entire Agreement.  This Amendment sets forth the
entire understanding and agreement of the parties hereto in relation to the
subject matter hereof and supersedes any prior negotiations and agreements
among the parties relative to such subject matter.  None of the terms or conditions of this
Amendment may be changed, modified, waived or canceled, orally or otherwise,
except as provided in the Credit Agreement.

[Remainder of page intentionally
left blank; signatures on following pages]

 

 5

IN
WITNESS WHEREOF, the parties hereto have caused this
Amendment to be executed as of the date first above written.

	
  

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
  WILLIS LEASE FINANCE CORPORATION,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brad Forsyth

  
	
   

  	
   

  	
  Name: 

  	
  Brad Forsyth

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  	
  Chief Financial Officer

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  AGENTS:

  
	
   

  	
   

  
	
   

  	
  NATIONAL
  CITY BANK,

  as Administrative Agent, Security Agent and Swing
  Line Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Christos Kytzidis

  
	
   

  	
   

  	
  Name: 

  	
  Christos Kytzidis

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  BANKS:

  
	
   

  	
   

  
	
   

  	
  NATIONAL CITY BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Christos Kytzidis

  
	
   

  	
   

  	
  Name: 

  	
  Christos Kytzidis

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  CALYON NEW YORK BRANCH,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian Bolotin

  
	
   

  	
   

  	
  Name: 

  	
  Brian Bolotin

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles Moran

  
	
   

  	
   

  	
  Name: 

  	
  Charles Moran

  
	
   

  	
   

  	
  Title:

  	
  Director

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  CALIFORNIA BANK & TRUST,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ J. Michael Sullivan

  
	
   

  	
   

  	
  Name: 

  	
  J. Michael Sullivan

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  KfW

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/

  
	
   

  	
   

  	
  Name: 

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Andreas Roth

  
	
   

  	
   

  	
  Name: 

  	
  Andreas Roth

  
	
   

  	
   

  	
  Title:

  	
  Senior Project Manager

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  CITY NATIONAL BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeanine A. Smith

  
	
   

  	
   

  	
  Name: 

  	
  Jeanine A. Smith

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  ALLIANCE
  & LEICESTER COMMERCIAL FINANCE PLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Martin Webb

  
	
   

  	
   

  	
  Name: 

  	
  Martin Webb

  
	
   

  	
   

  	
  Title:

  	
  Head of Aviation

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  CREDIT
  INDUSTRIEL ET COMMERCIAL, NEW YORK BRANCH

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Alex Aupoix

  
	
   

  	
   

  	
  Name: 

  	
  Alex Aupoix

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Adrienne Molloy

  
	
   

  	
   

  	
  Name: 

  	
  Adrienne Molloy

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

SIGNATURE PAGE TO SECOND AMENDMENT
TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  HSH
  NORDBANK AG, NEW YORK BRANCH

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Edward J. McGarvey

  
	
   

  	
   

  	
  Name: 

  	
  Edward J. McGarvey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  Head of Aviation Americas

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric Dollman

  
	
   

  	
   

  	
  Name: 

  	
  Eric Dollman

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  Transportation Americas

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  STATE
  BANK OF INDIA, LOS
  ANGELES AGENCY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ K.S.S. Naidu

  
	
   

  	
   

  	
  Name: 

  	
  K.S.S. Naidu

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  LANDSBANKI ISLANDS HF.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Hlynur Sigursvenuon

  
	
   

  	
   

  	
  Name: 

  	
  Hlynur Sigursvenuon

  
	
   

  	
   

  	
  Title:

  	
  Senior Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Arni Por Porbjörnsson

  
	
   

  	
   

  	
  Name: 

  	
  Arni Por Porbjörnsson

  
	
   

  	
   

  	
  Title:

  	
  Senior Director-Legal Counsel

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

	
  

  	
  BNP
  PARIBAS

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Antoine Treguer

  
	
   

  	
   

  	
  Name: 

  	
  Antoine Treguer

  
	
   

  	
   

  	
  Title:

  	
  VP Aviation Finance Group

  

 

SIGNATURE PAGE TO SECOND
AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT

ANNEX A

	
  Bank

  	
   

  	
  Commitment

  	
   

  	
  Closing Fee

  	
   

  
	
  National City Bank

  	
   

  	
  $

  	
  35,000,000

  	
   

  	
  $

  	
  17,500

  	
   

  
	
  California Bank &
  Trust

  	
   

  	
  $

  	
  25,000,000

  	
   

  	
  $

  	
  12,500

  	
   

  
	
  KfW

  	
   

  	
  $

  	
  25,000,000

  	
   

  	
  $

  	
  12,500

  	
   

  
	
  Calyon New York Branch

  	
   

  	
  $

  	
  20,000,000

  	
   

  	
  $

  	
  10,000

  	
   

  
	
  City National Bank

  	
   

  	
  $

  	
  20,000,000

  	
   

  	
  $

  	
  10,000

  	
   

  
	
  Alliance &
  Leicester Commercial Finance Plc

  	
   

  	
  $

  	
  20,000,000

  	
   

  	
  $

  	
  10,000

  	
   

  
	
  Credit Industriel et
  Commercial, New York Branch

  	
   

  	
  $

  	
  20,000,000

  	
   

  	
  $

  	
  10,000

  	
   

  
	
  HSH Nordbank AG, New
  York Branch

  	
   

  	
  $

  	
  15,000,000

  	
   

  	
  $

  	
  7,500

  	
   

  
	
  State Bank of India,
  Los Angeles Agency

  	
   

  	
  $

  	
  15,000,000

  	
   

  	
  $

  	
  7,500

  	
   

  
	
  Landsbanki Islands hf.

  	
   

  	
  $

  	
  12,000,000

  	
   

  	
  $

  	
  6,000

  	
   

  
	
  BNP Paribas

  	
   

  	
  $

  	
  10,000,000

  	
   

  	
  $

  	
  5,000

  	
   

  
	
  TOTAL:

  	
   

  	
  $

  	
  217,000,000

  	
   

  	
   

  	
   

  

 

EXHIBIT A

AMENDMENT REQUEST

[Attached hereto]Exhibit
10.1

 

LEASE
AGREEMENT

THIS LEASE AGREEMENT is made as of this 22nd day of
June, 2007, between ARE-TECH SQUARE, LLC,
a Delaware limited liability company (“Landlord”), and SIRTRIS PHARMACEUTICALS, INC., a Delaware
corporation (“Tenant”).

BASIC LEASE PROVISIONS

	
  Address:

  	
   

  	
  200 Technology Square, Cambridge, Massachusetts

  
	
   

  	
   

  	
   

  
	
  Premises:

  	
   

  	
  That portion of the Project, containing a total of
  approximately 44,084 rentable square feet, as determined by Landlord,
  consisting of approximately (i) 17,357 rentable square feet on the second (2nd) floor of the Building (“Second Floor Space”), (ii) 17,357
  rentable square feet on the third (3rd)
  floor of the Building (“Third Floor Space”),
  (iii) 8,679 rentable square feet on the fourth (4th) floor of the Building (“Fourth Floor Space”); (iv) 471
  rentable square feet on the first (1st)
  floor of the Building (“First Floor Space”)
  and (v) 220 rentable square feet of space, in the basement of the
  Building (the “Basement Space”),
  as shown on Exhibit A.

  
	
   

  	
   

  	
   

  
	
  Building:

  	
   

  	
  The specific building in which the Premises are
  located, which building is within the Project and located at 200 Technology
  Square, also known as Unit 200 of the Condominium described in Exhibit B.

  
	
   

  	
   

  	
   

  
	
  Project:

  	
   

  	
  The real property on which the Building is located,
  also known as Technology Square Condominium (the “Condominium”), together with all improvements thereon and
  appurtenances thereto from time to time located thereon in the City of
  Cambridge, Middlesex County, Commonwealth of Massachusetts, as described on Exhibit B. The Landlord reserves the right to modify the
  Condominium at any time and from time to time, but the parties acknowledge
  the Condominium presently consists of Units 100, 200, 300, 400, 500, 600 and
  700 (also known as Buildings 100, 200, 300, 400, 500, 600 and 700), as well
  as specified common areas on the Condominium (including the Technology Square
  Garage).

  
	
   

  	
   

  	
   

  
	
  Base Rent:

  	
   

  	
  $58.50 per rentable square foot per year, subject to
  annual increase on the Adjustment Date as set forth herein

  
	
   

  	
   

  	
   

  
	
  Rentable Area

  of Premises:

  	
   

  	
  44,084 sq. ft.

  
	
   

  	
   

  	
   

  
	
  Rentable Area

  of Building:

  	
   

  	
  177,101 sq. ft.

  
	
   

  	
   

  	
   

  
	
  Tenant’s Share

  of Operating

  Expenses:

  	
   

  	
  24.89%

  
	
   

  	
   

  	
   

  
	
  Rentable Area

  of Project:

  	
   

  	
  1,164,288 sq. ft.

  
	
   

  	
   

  	
   

  
	
  Building’s

  Share of Project:

  	
   

  	
  15.21%

  

 

 

 1
 

 

	
  Security Deposit:

  	
   

  	
  $1,925,805.38 (subject to proportionate increase in
  the event Tenant exercises its Expansion Right pursuant to Section 39
  hereof, and subject to potential reduction in accordance with Section 6
  hereof).

  
	
   

  	
   

  	
   

  
	
  Target

  Commencement

  Date:

  	
   

  	
  December 1, 2007

  
	
   

  	
   

  	
   

  
	
  Rent

  Commencement

  Date:

  	
   

  	
  (1) With respect to the Basement Space, First Floor
  Space, Second Floor Space, and Third Floor Space, the Rent Commencement Date
  shall be the Commencement Date, and (2) with respect to the Fourth Floor
  Space, the Rent Commencement Date shall be the earlier of (a) one year after
  the Commencement Date or (b) the date of Tenant’s occupancy of the Fourth
  Floor Space.

  
	
   

  	
   

  	
   

  
	
  Rent Adjustment

  Percentage:

  	
   

  	
  Greater of (a) 3.5% or (b) the CPI Adjustment
  Percentage

  
	
   

  	
   

  	
   

  
	
  Base Term:

  	
   

  	
  Beginning on the Commencement Date and ending ten
  (10) years from the first day of the first full month of the Term (as defined
  in Section 2) hereof.

  
	
   

  	
   

  	
   

  
	
  Permitted Use:

  	
   

  	
  Research and development laboratory, related office
  and other related uses consistent with the character of the Project and
  otherwise in compliance with the provisions of Section 7 hereof.

  

 

	
  Address for Rent Payment:

  	
   

  	
  Landlord’s Notice Address:

  
	
  385 East Colorado Boulevard, Suite 299

  Pasadena, CA 91101

  Attention: Accounts Receivable

  	
   

  	
  385 East Colorado Boulevard, Suite 299

  Pasadena, CA 91101

  Attention: Corporate Secretary

  
	
   

  	
   

  	
   

  
	
  Tenant’s Notice Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  From and after the Commencement Date, the

  Premises, Attention: Chief Executive Officer; prior

  to the Commencement Date:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  790 Memorial Drive

  Cambridge, MA 02139

  Attention: Chief Executive Officer

  	
   

  	
   

  

 

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

	
  x
  EXHIBIT A - PREMISES DESCRIPTION

  	
   

  	
  x
  EXHIBIT B - DESCRIPTION OF PROJECT

  
	
  x
  EXHIBIT C – WORK LETTER

  	
   

  	
  x
  EXHIBIT D - COMMENCEMENT DATE

  
	
  x
  EXHIBIT E – RULES AND REGULATIONS

  	
   

  	
  x
  EXHIBIT F - TENANT’S PERSONAL
  PROPERTY

  
	
  x
  EXHIBIT G – REPLACEMENT SECTIONS
  2(A), 2(B), 2(C) AND 3(A) OF WORK LETTER FOR AVAILABLE SPACE (PER SECTION
  39(B) OF LEASE)

  	
   

  	
  x
  EXHIBIT H – ROOFTOP EQUIPMENT
  LOCATION

  

 

1.             Lease of Premises.  Upon and subject to all of the terms and
conditions hereof,  Landlord hereby
leases the Premises to Tenant and Tenant hereby leases the Premises from
Landlord.  Subject to the terms of this
Lease, Landlord shall use reasonable efforts to provide to Tenant reasonable
access to the Premises 24 hours per day, 7 days per week.  The portions of the Project which are for the

 2
 

non-exclusive use of tenants of the Project are
collectively referred to herein as the “Common Areas.”  Landlord reserves the right to modify Common
Areas, provided that such modifications do not materially adversely affect
Tenant’s access to or use of the Premises for the Permitted Use.  Tenant shall also have the non-exclusive
right, in common with others entitled thereto (i) to use the atrium located
between the Building and Building 100 (the “Atrium”),
and (ii) subject to the conditions set forth herein, to install communications
equipment within its proportionate share of available space on the roof of the
Building in the location specified on the roof plan attached hereto as Exhibit H. 
Any such rooftop equipment shall (a) be installed, if at all, in a good
and workmanlike manner by Tenant at Tenant’s sole cost and expense, (b) be
subject to the requirements of all applicable laws and regulations and
otherwise subject to the terms and conditions of this Lease, (c) not interfere
in any way with base building systems or equipment, adversely affect the
structural integrity of the Building or adversely impact the roof, roof
membrane or any roof warranty in any manner and (d) not interfere with the
rights of any other tenants of the Building.

2.             Delivery; Acceptance of
Premises; Commencement Date. 
Landlord shall use reasonable efforts to deliver the Premises to Tenant
on or before the Target Commencement Date, with Landlord’s Work, if any,
Substantially Completed (“Delivery” or “Deliver”).  If
Landlord fails to timely Deliver the Premises, Landlord shall not be liable to
Tenant for any loss or damage resulting therefrom, and this Lease shall not be
void or voidable except as provided herein. 
If Landlord does not Deliver the Premises within 60 days of the Target
Commencement Date (as such date may be extended due to Force Majeure (as
defined in Section 34) delays and Tenant Delays), this Lease may be
terminated by Tenant by written notice to Landlord, and if so terminated:  (a) the Security Deposit, or any balance
thereof (i.e., after deducting therefrom all amounts to which Landlord is
entitled under the provisions of this Lease), shall be returned to Tenant, and
(b) neither Landlord nor Tenant shall have any further rights, duties or obligations
under this Lease, except with respect to provisions which expressly survive
termination of this Lease.  As used herein, the terms “Landlord’s Work,” “Tenants’ Work,”
“Tenant Delays” and “Substantially Completed”  shall have the
meanings set forth for such
terms in the Work Letter.  If Tenant does
not elect to void this Lease within ten (10) business days of the lapse of such
60 day period, such right to void this Lease shall be waived and this Lease
shall remain in full force and effect.

The “Commencement Date”
shall be the earliest of: (i) the later of (a) December 1, 2007, (b) the date
Landlord Delivers the Premises to Tenant or (c) the date Landlord could have
Delivered the Premises but for Tenant Delays; and (ii) the date Tenant
conducts any business in the Premises or any part thereof.  The “Rent Commencement Date” shall be (a) the Commencement Date, with
respect to the First Floor Space, Second Floor Space, and Third Floor Space,
and (b) with respect to the Fourth Floor Space only, the earlier of (X) one
year after the Commencement Date or (Y) the date Tenant conducts any business
in the Fourth Floor Space or any part thereof.   Upon
request of Landlord, Tenant shall execute and deliver a written acknowledgment
of the Commencement Date, the Rent
Commencement Date(s) and the expiration date of the Term when such are
established in the form of the “Acknowledgement of Commencement Date” attached
to this Lease as Exhibit D; provided, however,
Tenant’s failure to execute and deliver such acknowledgment shall not affect
Landlord’s rights hereunder.  The “Term” of this Lease shall be the Base Term, as defined above
in the Basic Lease Provisions and any
Extension Terms which Tenant may elect pursuant to Section 41 hereof.

Except as set forth in the Work Letter, if
applicable:  (i) Tenant shall accept the
Premises in their condition as of the Commencement Date, subject to all
applicable Legal Requirements (as defined in Section 7 hereof); (ii)
Landlord shall have no obligation for any defects in the Premises; and (iii)
Tenant’s taking possession of the Premises shall be conclusive evidence that
Tenant accepts the Premises and that the Premises were in good condition at the
time possession was taken.  Any occupancy
of the Premises by Tenant before the Commencement Date shall be subject to all
of the terms and conditions of this Lease, except that, if such occupancy does
not include any operation of Tenant’s business, then Tenant shall not be
required to pay Base Rent or Tenant’s Share of Operating Expenses prior to the
Commencement Date.

Tenant agrees and acknowledges that neither Landlord
nor any agent of Landlord has made any representation or warranty with respect
to the condition of all or any portion of the Premises or the

 3
 

Project, and/or the
suitability of the Premises or the Project for the conduct of Tenant’s
business, and Tenant waives any implied warranty that the Premises or the
Project are suitable for the Permitted Use. 
This Lease constitutes the complete agreement of Landlord and Tenant
with respect to the subject matter hereof and supersedes any and all prior
representations, inducements, promises, agreements, understandings and
negotiations which are not contained herein. 
Landlord in executing this Lease does so in reliance upon Tenant’s
representations, warranties, acknowledgments and agreements contained herein.

3.             Rent.

(a)           Base Rent.  The first month’s Base Rent and the Security
Deposit shall be due and payable on delivery of an executed copy of this Lease
to Landlord.  Tenant shall pay to Landlord
in advance, without demand, abatement, deduction or set-off, monthly
installments of Base Rent on or before the first day of each calendar month
during the Term hereof beginning after the Rent Commencement Date, in lawful
money of the United States of America, at the office of Landlord for payment of
Rent set forth above, or to such other person or at such other place as
Landlord may from time to time designate in writing.  Payments of Base Rent for any fractional calendar
month shall be prorated.  The obligation
of Tenant to pay Base Rent and other sums to Landlord and the obligations of
Landlord under this Lease are independent obligations.  Tenant shall have no right at any time to
abate, reduce, or set-off any Rent (as defined in Section 5) due hereunder
except for any abatement as may be expressly provided in this Lease.

(b)           Additional Rent.  In addition to Base Rent, Tenant
agrees to pay to Landlord as additional rent (“Additional
Rent”):  (i) Tenant’s Share of
“Operating Expenses” (as defined in Section 5), and (ii) any and all
other amounts Tenant assumes or agrees to pay under the provisions of this
Lease, including, without limitation, any and all other sums that may become
due by reason of any default of Tenant or failure to comply with the agreements,
terms, covenants and conditions of this Lease to be performed by Tenant, after
any applicable notice and cure period.

4.             Base Rent Adjustments.  Base Rent shall be increased on each annual
anniversary of the first day of the first full month during the Term of this
Lease (each an “Adjustment Date”) by multiplying
the Base Rent payable immediately before such Adjustment Date by the Rent
Adjustment Percentage and adding the resulting amount to the Base Rent payable
immediately before such Adjustment Date. 
Base Rent, as so adjusted, shall thereafter be due as provided
herein.  Base Rent adjustments for any
fractional calendar month shall be prorated. 
“CPI Adjustment Percentage” means (i) a
fraction, stated as a percentage, the numerator of which shall be the Index for
the calendar month 3 months before the month in which the Adjustment Date
occurs, and the denominator of which shall be the Index for the calendar month
3 months before the last Adjustment Date or, if no prior Base Rent adjustment
has been made, 3 months before the first day of the first full month during the
Term of this Lease, less (ii) 1.00.  “Index” means the “Consumer Price Index-All Urban
Consumers-Northeast Region, All Items” compiled by the U.S. Department of
Labor, Bureau of Labor Statistics, (1982-84 = 100).  If a substantial change is made in the Index,
the revised Index shall be used, subject to such adjustments as Landlord may
reasonably deem appropriate in order to make the revised Index comparable to
the prior Index.  If the Bureau of Labor
Statistics ceases to publish the Index, then the successor or most nearly
comparable index, as reasonably determined by Landlord, shall be used, subject
to such adjustments as Landlord may reasonably deem appropriate in order to
make the new index comparable to the Index. 
Landlord shall give Tenant written notice indicating the Base Rent, as
adjusted pursuant to this Section, and the method of computation and Tenant
shall pay to Landlord an amount equal to any underpayment of Base Rent by Tenant
within 15 days of Landlord’s notice to Tenant. Failure to deliver such notice
shall not reduce, abate, waive or diminish Tenant’s obligation to pay the
adjusted Base Rent.

5.             Operating Expense Payments.  Landlord shall deliver to Tenant a written
estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from
time to time during such calendar year. 
During each month of the Term, on the same date that Base Rent is due,
Tenant shall pay Landlord an amount equal to 1/12th of
Tenant’s Share of the Annual Estimate. 
Payments for any fractional calendar month shall be prorated.

 4
 

The term “Operating Expenses”
means all costs and expenses of any kind or description whatsoever incurred or
accrued each calendar year by Landlord with respect to the Building (including the Landlord’s
reasonable determination of the Building’s proportionate share of all expenses
attributable to the Atrium (which the parties acknowledge shall be greater than
the Building’s Share of Project), as well as the Building’s Share of Project of
all other costs and expenses of any kind or description incurred or accrued by
Landlord with respect to the Project and the Condominium (including without
limitation all costs of compliance with the PTDM, as hereinafter defined) which
are not specific to the Building or any other building located in the Project)  (including, without duplication, Taxes (as defined in Section
9), reasonable reserves consistent with good business practice for future
repairs and replacements, capital repairs and improvements amortized (except as
excluded from Operating Expenses as set forth in clause (b), below) over the
useful life of such capital items determined in accordance with GAAP (as
defined in Section 22(a)), or as reasonably determined by Landlord to
the extent such items constitute repairs, replacements or improvements to the
heating, ventilation and air conditioning system or other building equipment,
and the costs of Landlord’s third party property manager or, if there is no
third party property manager or if the third party property manager does not
provide all management services, administration rent in the amount of 3.0% of
Base Rent, less any management fees paid to any third party manager), excluding
only:

(a)           the original construction costs of
the Project and renovation prior to the date of the Lease and costs of
correcting defects in such original construction or renovation;

(b)           capital expenditures for expansion of
the Project or for curing a noncompliance of the Building with applicable Legal
Requirement (as defined Section 27) where such noncompliance constituted
a non-compliance as of the date hereof;

(c)           interest, principal payments of
Mortgage (as defined in Section 27) debts of Landlord, financing costs
and amortization of funds borrowed by Landlord, whether secured or unsecured
and all payments of base rent (but not taxes or operating expenses) under any
ground lease or other underlying lease of all or any portion of the Project;

(d)           depreciation of the Project (except
for capital improvements, the cost of which are 
includable in Operating Expenses);

(e)           advertising, legal and space planning
expenses and leasing commissions and other costs and expenses incurred in
procuring and leasing space to tenants for the Project, including any leasing
office maintained in the Project, free rent and construction allowances for
tenants;

(f)            legal and other expenses incurred in
the negotiation or enforcement of leases;

(g)           completing, fixturing, improving,
renovating, painting, redecorating or other work, which Landlord pays for or
performs for other tenants within their premises, and costs of correcting
defects in such work;

(h)           costs of utilities outside normal
business hours sold to tenants of the Project;

(i)            costs to be reimbursed by other
tenants of the Project or Taxes to be paid directly by Tenant or other tenants
of the Project, whether or not actually paid;

(j)            costs incurred by Landlord for
testing, cleanup and remediation of Hazardous Materials to the extent, and only
to the extent, that Landlord has actually received reimbursement for such costs
from a third party, it being acknowledged and agreed that Landlord shall have
no obligation to endeavor to obtain any such reimbursement;

 5
 

(k)           salaries, wages, benefits and other
compensation paid to officers and employees of Landlord who are not assigned in
whole or in part to the operation, management, maintenance or repair of the
Project;

(l)            general organizational,
administrative and overhead costs relating to maintaining Landlord’s existence,
either as a corporation, partnership, or other entity, including general
corporate, legal and accounting expenses;

(m)          costs (including attorneys’ fees and
costs of settlement, judgments and payments in lieu thereof) incurred in
connection with disputes with tenants, other occupants, or prospective tenants,
and costs and expenses, including legal fees, incurred in connection with
negotiations or disputes with employees, consultants, management agents, leasing
agents, purchasers or mortgagees of the Building;

(n)           costs incurred by Landlord due to the
violation by Landlord, its employees, agents or contractors or any tenant of
the terms and conditions of any lease of space in the Project or any Legal
Requirement (as defined in Section 7);

(o)           penalties, fines or interest incurred
as a result of Landlord’s inability or failure 
to make payment of Taxes and/or to file any tax or informational returns
when due, or from Landlord«‘s failure to make any payment of Taxes required to
be made by Landlord hereunder before delinquency;

(p)           overhead and profit increment paid to
Landlord or to subsidiaries or affiliates of Landlord for goods and/or services
in or to the Project to the extent the same exceeds the costs of such goods
and/or services rendered by unaffiliated third parties on a competitive basis;

(q)           costs of Landlord’s charitable or
political contributions, or of fine art maintained at the Project;

(r)            costs in connection with services
(including electricity), items or other benefits of a type which are not
standard for the Project and which are not available to Tenant without specific
charges therefor, but which are provided to another tenant or occupant of the
Project, whether or not such other tenant or occupant is specifically charged
therefor by Landlord;

(s)           costs incurred in the sale or
refinancing of the Project;

(t)            net income taxes of Landlord or the
owner of any interest in the Project, franchise, capital stock, gift, estate or
inheritance taxes or any federal, state or local documentary taxes imposed
against the Project or any portion thereof or interest therein; and

(u)           any expenses otherwise includable
within Operating Expenses to the extent actually reimbursed by persons other
than tenants of the Project under leases for space in the Project.

Within 90 days after the end of each calendar year (or
such longer period as may be reasonably required), Landlord shall furnish to
Tenant a statement (an “Annual Statement”)
showing in reasonable detail:  (a) the total
and Tenant’s Share of actual Operating Expenses for the previous calendar year,
and (b) the total of Tenant’s payments in respect of Operating Expenses for
such year.  If Tenant’s Share of actual
Operating Expenses for such year exceeds Tenant’s payments of Operating
Expenses for such year, the excess shall be due and payable by Tenant as Rent
within 30 days after delivery of such Annual Statement to Tenant.  If Tenant’s payments of Operating Expenses
for such year exceed Tenant’s Share of actual Operating Expenses for such year
Landlord shall pay the excess to Tenant within 30 days after delivery of such
Annual Statement, except that after the expiration, or earlier termination of
the Term or if Tenant is delinquent in its obligation to pay Rent, Landlord
shall pay the excess to Tenant after deducting all other amounts due Landlord.

 6
 

The Annual Statement shall be final and binding upon
Tenant unless Tenant, within 90 days after Tenant’s receipt thereof, shall
contest any item therein by giving written notice to Landlord, specifying each
item contested and the reason therefor.  If, during such 90 day period,
Tenant reasonably and in good faith questions or contests the accuracy of
Landlord’s statement of Tenant’s Share of Operating Expenses, Landlord will
provide Tenant with access to Landlord’s books and records relating to the
operation of the Project and such information as Landlord reasonably determines
to be responsive to Tenant’s questions (the “Expense
Information”).  If after
Tenant’s review of such Expense Information, Landlord and Tenant cannot agree
upon the amount of Tenant’s Share of Operating Expenses, then Tenant shall have
the right to have an independent public accounting firm selected by Tenant
either (x) from among the 5 largest in the United States or (y) otherwise
approved by Landlord (which approval shall not be unreasonably withheld or
delayed), in either case, working pursuant to a fee arrangement other than a
contingent fee (at Tenant’s sole cost and expense), audit and/or review the
Expense Information for the year in question (the “Independent
Review”).  The results of any
such Independent Review shall be binding on Landlord and Tenant.  If the Independent Review shows that the
payments actually made by Tenant with respect to Operating Expenses for the
calendar year in question exceeded Tenant’s Share of Operating Expenses for
such calendar year, Landlord shall at Landlord’s option either (i) credit the
excess amount to the next succeeding installments of estimated Operating
Expenses or (ii) pay the excess to Tenant within 30 days after delivery of such
statement, except that after the expiration or earlier termination of this
Lease or if Tenant is delinquent in its obligation to pay Rent, Landlord shall
pay the excess to Tenant after deducting all other amounts due Landlord.  If the Independent Review shows that Tenant’s
payments with respect to Operating Expenses for such calendar year were less
than Tenant’s Share of Operating Expenses for the calendar year, Tenant shall
pay the deficiency to Landlord within 30 days after delivery of such
statement.  If the Independent Review
shows that Tenant has overpaid with respect to Operating Expenses by more than
5% then Landlord shall reimburse Tenant for all costs incurred by Tenant for
the Independent Review.  Operating
Expenses for the calendar years in which Tenant’s obligation to share therein
begins and ends shall be prorated. 
Notwithstanding anything set forth herein to the contrary, if the
Building is not at least 95% occupied on average during any year of the Term,
Tenant’s Share of Operating Expenses for such year shall be computed as though
the Building had been 95% occupied on average during such year.

“Tenant’s Share”
shall be the percentage set forth in the Basic Lease Provisions as Tenant’s
Share, as reasonably adjusted by Landlord following a measurement of the
rentable square footage of the Building and the Premises to be done by Landlord
during the first year of the Base Term, or as soon as is reasonably practicable
thereafter, and shall be subject to further adjustment for changes in the
physical size of the Premises, Building or Project occurring thereafter.  Any such measurement or remeasurement shall
be performed in accordance with Landlord’s standard method of measuring space
in the Project, consistently applied. 
Landlord shall have the right to equitably adjust the Rentable Area of
Premises, Rentable Area of Building, Rentable Area of Project and Building’s
Share of Project following any such measurement or remeasurement of the
Premises, Building or Project.  Landlord
may equitably increase Tenant’s Share for any item of expense or cost
reimbursable by Tenant that relates to a repair, replacement, or service that
benefits only the Premises or only a portion of the Project that includes the
Premises or that varies with occupancy or use. 
Base Rent, Tenant’s Share of Operating Expenses and all other amounts
payable by Tenant to Landlord hereunder are collectively referred to herein as “Rent.”

6.             Security Deposit.  Tenant shall deposit with Landlord, upon
delivery of an executed copy of this Lease to Landlord, a security deposit (the
“Security Deposit”) for the performance
of all of Tenant’s obligations hereunder in the amount set forth in the Basic
Lease Provisions, which Security Deposit shall be in the form of an
unconditional and irrevocable letter of credit (the “Letter of
Credit”):  (i) in form and
substance satisfactory to Landlord, (ii) naming Landlord as beneficiary, (iii)
expressly allowing Landlord to draw upon it at any time from time to time by
delivering to the issuer notice that Landlord is entitled to draw thereunder,
(iv) issued by an FDIC-insured financial institution satisfactory to Landlord,
and (v) redeemable by presentation of a sight draft in the state of Landlord’s
choice.  If Tenant does not provide
Landlord with a substitute Letter of Credit complying with all of the
requirements hereof at least 10 days before the stated expiration date of any
then current Letter of Credit, Landlord shall have the right to draw the full
amount of the current Letter of Credit and hold the funds drawn in cash without
obligation for interest thereon as the Security Deposit.  In the event Tenant exercises its Expansion
Right (as

 7
 

defined in Section 39 below), the Security Deposit
shall be increased proportionately to reflect any resulting increase in Base
Rent payable under the Lease, as set forth in Section 39.  The Security Deposit shall be held by
Landlord as security for the performance of Tenant’s obligations under this Lease.  The Security Deposit is not an advance rental
deposit or a measure of Landlord’s damages in case of Tenant’s default.  Upon each occurrence of a Default (as defined
in Section 20), Landlord may use all or any part of the Security Deposit
to pay delinquent payments due under this Lease, and the cost of any damage,
injury, expense or liability caused by such Default, without prejudice to any
other remedy provided herein or provided by law.  Upon any such use of all or any portion of
the Security Deposit, Tenant shall pay Landlord on demand the amount that will
restore the Security Deposit to the amount set forth in the Basic Lease
Provisions.  Tenant hereby waives the
provisions of any law, now or hereafter in force, which provide that Landlord
may claim from a security deposit only those sums reasonably necessary to
remedy defaults in the payment of Rent, to repair damage caused by Tenant or to
clean the Premises, it being agreed that Landlord may, in addition, claim those
sums reasonably necessary to compensate Landlord for any other loss or damage,
foreseeable or unforeseeable, caused by the act or omission of Tenant or any
officer, employee, agent or invitee of Tenant. 
Upon bankruptcy or other debtor-creditor proceedings against Tenant, the
Security Deposit shall be deemed to be applied first to the payment of Rent and
other charges due Landlord for periods prior to the filing of such
proceedings.  Upon any such use of all or
any portion of the Security Deposit, Tenant shall, within 5 business days after
demand from Landlord, restore the Security Deposit to its original amount.  If Tenant shall fully perform every provision
of this Lease to be performed by Tenant, the Security Deposit, or any balance
thereof (i.e., after deducting therefrom all amounts to which Landlord is
entitled under the provisions of this Lease), shall be returned to Tenant (or,
at Landlord’s option, to the last assignee of Tenant’s interest hereunder)
within 90 days after the expiration or earlier termination of this Lease.

If Landlord transfers its interest in the Project or
this Lease, Landlord shall either (a) transfer any Security Deposit then held
by Landlord to a person or entity assuming Landlord’s obligations under this Section
6, or (b) return to Tenant any Security Deposit then held by Landlord and
remaining after the deductions permitted herein.  Upon such transfer to such transferee or the
return of the Security Deposit to Tenant, Landlord shall have no further
obligation with respect to the Security Deposit, and Tenant’s right to the
return of the Security Deposit shall apply solely against Landlord’s
transferee.  The Security Deposit is not
an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s
default.  Landlord’s obligation
respecting the Security Deposit is that of a debtor, not a trustee, and no
interest shall accrue thereon.

On the second anniversary of the Commencement Date,
and every second year thereafter on the anniversary of such date until the end
of the Base Term (each such date being a “Reduction
Date”), provided Tenant is not then in default under any of its
obligations under the Lease and provided further that Tenant has not previously
been in default under any of its obligations under the Lease beyond applicable
notice and cure periods, then Tenant shall have the right, upon at least 10
days’ prior written notice to Landlord, to reduce the Security Deposit
effective as of such Reduction Date by the amount of $213,978.38 (provided that
such reduction amount shall be subject to proportionate increase in the event
the Security Deposit has previously been increased as a result of Tenant’s
exercise of its Expansion Right).  If the
amount of the Security Deposit is reduced in accordance with this Section, then
from and after the date of each such reduction, the “Security
Deposit” shall be deemed to be the reduced amount of the Security
Deposit for all purposes of this Lease. 
By way of example only and in no way intending to limit the foregoing,
if on the second anniversary of the Commencement Date (i.e., at the beginning
of year 3 of the Base Term), Tenant is not in default under any of its
obligations under the Lease and has not previously been in default under any
such obligations beyond applicable notice and cure periods, then Tenant shall
have the right, effective as of such second anniversary and upon the giving of
notice as aforesaid, to reduce the Security Deposit by the amount of
$213,978.38.  Likewise, at the beginning
of each of years 5, 7 and 9 of the Base Term, provided no then-current default
exists by Tenant and there has been no prior default by Tenant beyond
applicable notice and cure periods, Tenant shall again have the right to reduce
the Security Deposit by the amount of $213,978.38 on each such Reduction Date.  There shall be no reduction of the Security
Deposit following the expiration of the Base Term.  If at any time during the Term of this Lease
Tenant defaults under any of its obligations beyond applicable notice and cure
periods, there shall be no further reduction of the Security Deposit.

 8
 

7.             Use.  The Premises
shall be used solely for the Permitted Use set forth in the Basic Lease
Provisions, and in compliance with all laws, orders, judgments, ordinances,
regulations, codes, directives, permits, licenses, covenants and restrictions
now or hereafter applicable to the Premises, and to the use and occupancy
thereof, including, without limitation, the Americans With Disabilities Act, 42
U.S.C. § 12101, et seq. (together with the regulations promulgated pursuant
thereto, “ADA”) (collectively, “Legal Requirements” and each, a “Legal Requirement”). 
Tenant shall, upon 5 days’ written notice from Landlord, discontinue any
use of the Premises which is declared by any Governmental Authority (as defined
in Section 9) having jurisdiction to be a violation of a Legal
Requirement.  Subject to Landlord’s
consent, not to be unreasonably withheld, conditioned or delayed, Tenant may
appeal or contest such a declaration by any Governmental Authority as to a
violation of a Legal Requirement by Tenant, provided that Tenant shall provide
such reasonable security as may be requested by Landlord for the payment of any
fines or penalties as may be charged by such Governmental Authority, any
interest thereon and the cost of the contest on the declaration of the
proceedings or suit in which such contest may be had.  Such security may be provided by Tenant’s
delivering or causing to be delivered to Landlord cash or other security
satisfactory to Landlord, or a bond of indemnity of a good and solvent surety
company in form and amount satisfactory to Landlord.  In any event, Tenant agrees to indemnify and
save Landlord harmless from all cost and expenses incurred on account of Tenant’s
participation in such appeal or contest. 
In no event shall Landlord be deemed to be unreasonable in disapproving
any such appeal or contest in the event that Landlord determines in its sole
discretion (a) there is a possibility of criminal liability in connection
therewith, (b) that the appeal or contest could be detrimental to the
reputation of the Building and/or the Project, (c) that such appeal or contest
could adversely impact Landlord’s ability to lease other space in the Project,
(d) that such appeal or contest could have an adverse impact on other occupants
of the Project, (e) that such appeal or contest would or could hurt its ability
to finance and/or sell the Building or the Project, (f) that the use sought to
be permitted pursuant to the appeal or contest would be inconsistent with other
uses of the Building or (g) that such appeal or contest would be likely to
impair the value of the Building and/or the Project.  Tenant will not use or permit the Premises to
be used for any purpose or in any manner that would void Tenant’s or Landlord’s
insurance, increase the insurance risk above the risk level of other occupants
at the Project, or cause the disallowance of any sprinkler or other
credits.  Tenant shall not permit any
part of the Premises to be used as a “place of public accommodation”, as
defined in the ADA or any similar legal requirement.  Tenant shall reimburse Landlord promptly upon
demand for any additional premium charged for any such insurance policy by
reason of Tenant’s failure to comply with the provisions of this Section or
otherwise caused by Tenant’s use and/or occupancy of the Premises.  Tenant will use the Premises in a careful,
safe and proper manner and will not commit or permit waste, overload the floor
or structure of the Premises, subject the Premises to use that would damage the
Premises or obstruct or interfere with the rights of Landlord or other tenants
or occupants of the Project, including conducting or giving notice of any
auction, liquidation, or going out of business sale on the Premises, or using
or allowing the Premises to be used for any unlawful purpose.  Tenant shall cause any equipment or machinery
to be installed in the Premises so as to reasonably prevent sounds or
vibrations from the Premises from extending into Common Areas, or other space
in the Project.  Tenant shall not place
any machinery or equipment weighing 500 pounds or more in or upon the Premises
or transport or move such items through the Common Areas of the Project or in
the Project elevators without the prior written consent of Landlord.  Except as may be provided under the Work
Letter, Tenant shall not, without the prior written consent of Landlord, use
the Premises in any manner which will require ventilation, air exchange,
heating, gas, steam, electricity or water beyond the existing capacity of the
Project as proportionately allocated to the Premises based upon Tenant’s Share
as usually furnished for the Permitted Use.

Landlord shall, as an
Operating Expense (except as set forth in Section 5(b) (to the extent such
Legal Requirement is generally applicable to similar buildings in the area in
which the Project is located) or at Tenant’s expenses (to the extent such Legal
Requirement is applicable solely by reason of Tenant’s, as compared to other
tenants of the Project, particular use of the Premises) make any alterations or
modifications to the Common Areas or the exterior of the Building that are
required by Legal Requirements, including the ADA. 
Tenant, at its sole expense, shall make any alterations or modifications
to the interior of the Premises that are required by Legal Requirements
(including, without limitation, compliance of the Premises with the ADA.  Notwithstanding any other provision
herein to the contrary, Tenant shall be responsible for any and all demands,
claims, liabilities, losses, costs, expenses,

 9
 

actions, causes of
action, damages or judgments, and all reasonable expenses incurred in
investigating or resisting the same (including, without limitation, reasonable
attorneys’ fees, charges and disbursements and costs of suit) (collectively, “Claims”) arising out of or in connection with Legal
Requirements, and Tenant shall indemnify, defend, hold and save Landlord
harmless from and against any and all Claims arising out of or in connection
with any failure of the Premises to comply with any Legal Requirement;
provided, however, that Tenant shall not be so responsible or be obligated to
indemnify, defend or hold harmless under this paragraph with respect to the
failure of the Premises to comply with Legal Requirements except to the extent
that such failure to so comply arises by reason of Tenant’s use of the Premises
or Tenant’s actions or omissions or relates to the Tenant Improvements
constructed under the Work Letter or Alterations (as that term is defined in
Section 12) made by Tenant.

8.             Holding Over.  If, with Landlord’s express written consent,
Tenant retains possession of the Premises after the termination of the Term,
(i) unless otherwise agreed in such written consent, such possession shall be
subject to immediate termination by Landlord at any time, (ii) all of the other
terms and provisions of this Lease (including, without limitation, the
adjustment of Base Rent pursuant to Section 4 hereof) shall remain in
full force and effect (excluding any expansion or renewal option or other
similar right or option) during such holdover period, (iii) Tenant shall
continue to pay Base Rent in the amount payable upon the date of the expiration
or earlier termination of this Lease or such other amount as Landlord may
indicate, in Landlord’s sole and absolute discretion, in such written consent,
and (iv) all other payments shall continue under the terms of this Lease.  If Tenant remains in possession of the
Premises after the expiration or earlier termination of the Term without the
express written consent of Landlord, (A) Tenant shall become a tenant at
sufferance upon the terms of this Lease except that the monthly rental shall be
equal to 150% of Rent in effect during the last 30 days of the Term and Tenant
shall pay on account therefor on a per diem basis at such monthly rental rate
for each day that Tenant so retains possession, and (B) Tenant shall be
responsible for all damages suffered by Landlord resulting from or occasioned
by Tenant’s holding over, including consequential damages.  No holding over by Tenant, whether with or
without consent of Landlord, shall operate to extend this Lease except as
otherwise expressly provided, and this Section 8 shall not be construed
as consent for Tenant to retain possession of the Premises.  Acceptance by Landlord of Rent after the
expiration of the Term or earlier termination of this Lease shall not result in
a renewal or reinstatement of this Lease.

9.             Taxes.  Landlord shall
pay, as part of Operating Expenses, all taxes, levies, assessments and
governmental charges of any kind (collectively referred to as “Taxes”) imposed by any federal, state, regional, municipal,
local or other governmental authority or agency, including, without limitation,
quasi-public agencies (collectively, “Governmental Authority”)
during the Term, including, without limitation, all Taxes:  (i) imposed on or measured by or based, in
whole or in part, on rent payable to Landlord under this Lease and/or from the
rental by Landlord of the Project or any portion thereof, or (ii) based on the
square footage, assessed value or other measure or evaluation of any kind of
the Premises or the Project, or (iii) assessed or imposed by or on the
operation or maintenance of any portion of the Premises or the Project,
including parking, or (iv) assessed or imposed by, or at the direction of, or
resulting from statutes or regulations, or interpretations thereof, promulgated
by, any Governmental Authority, (v) imposed as a license or other fee on
Landlord’s business of leasing space in the Project, or (vi) assessed or
imposed by or on the operation or maintenance of any portion or whole of the
Condominium (provided that to the extent any Taxes are assessed against the
Condominium as a whole, such amounts shall be allocated among the buildings
located in the Condominium based on the square footage of the buildings in
question, unless Landlord reasonably determines that such allocation should be
made on another basis).  Landlord may
contest by appropriate legal proceedings the amount, validity, or application
of any Taxes or liens securing Taxes. 
Taxes shall not include any net income taxes imposed on Landlord unless
such net income taxes are in substitution for any Taxes payable hereunder.  If any such Tax is levied or assessed
directly against Tenant, then Tenant shall be responsible for and shall pay the
same at such times and in such manner as the taxing authority shall
require.  Tenant shall pay, prior to
delinquency, any and all Taxes levied or assessed against any personal property
or trade fixtures placed by Tenant in the Premises, whether levied or assessed
against Landlord or Tenant.  If any Taxes
on Tenant’s personal property or trade fixtures are levied against Landlord or
Landlord’s property, or if the assessed valuation of the Project is increased
by a value attributable to improvements in or alterations to the Premises,
whether owned by Landlord or Tenant and whether or not affixed to the real
property so as

 10
 

to become a part thereof, higher than the base valuation on which
Landlord from time-to-time allocates Taxes to all tenants in the Project,
Landlord shall have the right, but not the obligation, to pay such Taxes.  Landlord’s determination of any excess
assessed valuation shall be binding and conclusive, absent manifest error.  The amount of any such payment by Landlord
shall constitute Additional Rent due from Tenant to Landlord immediately upon
demand.

10.           Parking.  Subject to
Force Majeure, a Taking (as defined in Section 19 below) and the
exercise by Landlord of its rights hereunder, Tenant shall have the right, in
common with other tenants of the Project, to the non-exclusive use of 1.5
parking spaces for every 1,000 rentable square feet of the Premises (which,
based on 44,084 rentable square feet, equates to 66 parking spaces), which
spaces shall be located in the Technology Square Garage in those areas
designated for non-reserved parking, subject in each case to Landlord’s rules
and regulations.  Tenant shall pay to
Landlord or as directed by Landlord, monthly as Additional Rent hereunder, the
market rate for each parking space, as reasonably determined by Landlord from
time to time, which as of the date hereof shall be $220.00 per space per
month.  Landlord shall not be responsible
for enforcing Tenant’s parking rights against any third parties, including
other tenants of the Project.  Tenant shall, at Tenant’s sole
expense, for so long as the Parking and Traffic Demand Management Plan dated
May 9, 1999 as approved by the City of Cambridge on July 9, 1999, including the
conditions set forth in such approval (as amended from time to time, the “PTDM”), remains applicable to the
Condominium, (i) offer to subsidize mass transit monthly passes for all of its
employees; (ii) implement a Commuter Choice Program; (iii) discourage
single-occupant vehicle (“SOV”)
use by its employees; (iv) promote alternative modes of transportation and use
of alternative work hours; (v) meet with Landlord and/or its representatives no
more than quarterly discuss transportation programs and initiatives; (vi)
participate in annual surveys monitoring transportation programs and
initiatives at Technology Square; (vii) cooperate with Landlord in connection
with transportation programs and initiatives promulgated pursuant to the PTDM;
(viii) provide alternative work programs (such as telecommuting, flex-time and
compressed work weeks) to its employees in order to reduce traffic impacts in
Cambridge during peak commuter hours; and (ix) otherwise cooperate with
Landlord in encouraging employees to seek alternate modes of transportation.

11.           Utilities, Services.  Landlord shall provide, subject to the terms
of this Section 11, water, electricity, heat, light, power, telephone,
sewer, and other utilities (including gas and fire sprinklers to the extent the
Project is plumbed for such services), refuse and trash collection and
janitorial services (collectively, “Utilities”).  Landlord shall pay, as Operating Expenses or
subject to Tenant’s reimbursement obligation, for all Utilities used on the
Premises, all maintenance charges for Utilities, and any storm sewer charges or
other similar charges for Utilities imposed by any Governmental Authority or
Utility provider, and any taxes, penalties, surcharges or similar charges
thereon.  Landlord shall cause, at Tenant’s
expense, any Utilities to be separately metered, check-metered or charged
directly to Tenant by the provider. 
Tenant shall pay directly to the Utility provider, prior to delinquency,
any separately metered Utilities and services which may be furnished to Tenant
or the Premises during the Term.  Tenant
shall pay, as part of Operating Expenses, its share of all charges for jointly
metered Utilities based upon consumption, as reasonably determined by Landlord
pursuant to any check-meter installed pursuant to this paragraph.  No interruption or failure of Utilities, from
any cause whatsoever other than Landlord’s willful misconduct, shall result in
eviction or constructive eviction of Tenant, termination of this Lease or the
abatement of Rent.  Tenant agrees to
limit use of water and sewer with respect to Common Areas to normal restroom
use.  Landlord’s sole obligation for
either providing emergency generators or providing emergency back-up power to
Tenant shall be: (i) to provide emergency generators with not less than the
stated capacity of the emergency generators located in the Building as of the
Commencement Date, and (ii) to contract with a third party to maintain the
emergency generators as per the manufacturer’s standard maintenance
guidelines.  Landlord shall have no
obligation to provide Tenant with operational emergency generators or back-up
power or to supervise, oversee or confirm that the third party maintaining the
emergency generators is maintaining the generators as per the manufacturer’s
standard guidelines or otherwise.  During
any period of replacement, repair or maintenance of the emergency generators
when the emergency generators are not operational, including any delays thereto
due to the inability to obtain parts or replacement equipment, Landlord shall
have no obligation to provide Tenant with an alternative back-up generator or
generators or alternative sources of back-up power.  Tenant expressly acknowledges and agrees that
Landlord does not guaranty that such emergency generators will be

 11
 

operational at all times or that emergency power will be available to
the Premises when needed.  In no event
shall Landlord be liable to Tenant or any other party for any damages of any
type, whether actual or consequential, suffered by Tenant or any such other
person in the event that any emergency generator or back-up power or any
replacement thereof fails or does not provide sufficient power.

12.           Alterations and Tenant’s Property.  Except for Tenant Improvements (as defined in
the Work Letter), which shall be governed by the Work Letter, any alterations,
additions, or improvements made to the Premises by or on behalf of Tenant,
including additional locks or bolts of any kind or nature upon any doors or
windows in the Premises, but excluding installation, removal or realignment of
furniture systems (other than removal of furniture systems owned or paid for by
Landlord) not involving any modifications to the structure or connections
(other then by ordinary plugs or jacks) to Building Systems (as defined in Section 13)
(“Alterations”) shall be subject to
Landlord’s prior written consent, which may be given or withheld in Landlord’s
sole discretion if any such Alteration affects the structure or Building
Systems, but which shall otherwise not be unreasonably withheld or
delayed.  Tenant may construct
nonstructural Alterations that will not affect the Building Systems or
otherwise interfere with the occupants of the Project in the Premises without
Landlord’s prior approval if the aggregate cost of all such work in any 12
month period does not exceed $150,000 (a “Notice-Only Alteration”), provided
Tenant notifies Landlord in writing of such intended Notice-Only Alteration,
and such notice shall be accompanied by plans, specifications, work contracts
and such other information concerning the nature and cost of the Notice-Only
Alteration as may be reasonably requested by Landlord, which notice and
accompanying materials shall be delivered to Landlord not less than 15 business
days in advance of any proposed construction. 
If Landlord approves any Alterations, Landlord may impose such
conditions on Tenant in connection with the commencement, performance and
completion of such Alterations as Landlord may deem appropriate in Landlord’s
reasonable discretion.  Any request for
approval shall be in writing, delivered not less than 15 business days in
advance of any proposed construction, and accompanied by plans, specifications,
bid proposals, work contracts and such other information concerning the nature
and cost of the alterations as may be reasonably requested by Landlord,
including the identities and mailing addresses of all persons performing work
or supplying materials.  Landlord’s right
to review plans and specifications and to monitor construction shall be solely
for its own benefit, and Landlord shall have no duty to ensure that such plans
and specifications or construction comply with applicable Legal
Requirements.  Tenant shall cause, at its
sole cost and expense, all Alterations to comply with insurance requirements
and with Legal Requirements and shall implement at its sole cost and expense
any alteration or modification required by Legal Requirements as a result of
any Alterations.  Tenant shall pay to
Landlord, as Additional Rent, on demand an amount equal to 10% of all charges
incurred by Tenant or its contractors or agents in connection with any
Alteration to cover Landlord’s overhead and expenses for plan review,
coordination, scheduling and supervision. 
Before Tenant begins any Alteration, Landlord may post on and about the
Premises notices of non-responsibility pursuant to applicable law.  Tenant shall reimburse Landlord for, and
indemnify and hold Landlord harmless from, any expense incurred by Landlord by
reason of faulty work done by Tenant or its contractors, delays caused by such
work, or inadequate cleanup.

Tenant shall furnish security or make other
arrangements satisfactory to Landlord in its reasonable discretion to assure
payment for the completion of all Alterations work free and clear of liens, and
shall provide (and cause each contractor or subcontractor to provide)
certificates of insurance for workers’ compensation and other coverage in
amounts and from an insurance company satisfactory to Landlord protecting
Landlord against liability for personal injury or property damage during
construction.  Upon completion of any
Alterations, Tenant shall deliver to Landlord: 
(i) sworn statements setting forth the names of all contractors and
subcontractors who did the work and final lien waivers from all such
contractors and subcontractors; and (ii) “as built” plans for any such
Alteration.

Other than (i) the items, if any, listed on Exhibit F attached hereto, (ii) any items agreed by Landlord
in writing to be included on Exhibit F in
the future, and (iii) any trade fixtures, machinery, equipment and other
personal property not paid for out of the TI Fund (as defined in the Work
Letter) which may be removed without material damage to the Premises, which
damage shall be repaired (including capping or terminating utility hook-ups behind
walls) by Tenant during the Term (collectively, “Tenant’s
Property”), all property of any kind paid for with the TI Fund, all
Alterations, real property

 12
 

fixtures, built-in
machinery and equipment, built-in casework and cabinets and other similar
additions and improvements built into the Premises so as to become an integral
part of the Premises such as fume hoods which penetrate the roof or plenum
area, built-in cold rooms, built-in warm rooms, walk-in cold rooms, walk-in
warm rooms, deionized water systems, glass washing equipment, autoclaves,
chillers, built-in plumbing, electrical and mechanical equipment and systems,
and any power generator and transfer switch (collectively, “Installations”) shall be and shall remain the property of
Landlord during the Term and following the expiration or earlier termination of
the Term, shall not be removed by Tenant at any time during the Term and shall
remain upon and be surrendered with the Premises as a part thereof in
accordance with Section 28 following the expiration or earlier
termination of this Lease; provided, however, that Landlord
shall, at the time its approval of such Installation is requested or at the
time it receives notice of a Notice-Only Alteration notify Tenant if it has
elected to cause Tenant to remove such Installation upon the expiration or
earlier termination of this Lease (it being understood that Landlord shall not
require Tenant to remove any alterations, additions, improvements, fixtures or
equipment in the Premises as of the Commencement Date or alterations that are
in the nature of typical office fit-up). 
If Landlord so elects, Tenant shall remove such Installation upon the
expiration or earlier termination of this Lease and restore any damage caused
by or occasioned as a result of such removal, including, when removing any of
Tenant’s Property which was plumbed, wired or otherwise connected to any of the
Building Systems, capping off all such connections behind the walls of the
Premises and repairing any holes.  During
any such restoration period, Tenant shall pay Rent to Landlord as provided
herein as if said space were otherwise occupied by Tenant.

13.           Landlord’s Repairs. 
Landlord, as an Operating Expense (subject to the terms of Section 5),
shall maintain all of the structural, exterior, parking and other Common Areas
of the Project, including HVAC, plumbing, fire sprinklers, elevators and all
other building systems serving the Premises and other portions of the Project (“Building Systems”), in good repair, reasonable wear and tear
and uninsured losses and damages caused by Tenant, or by any of Tenant’s
agents, servants, employees, invitees and contractors (collectively, “Tenant Parties”) excluded; for the avoidance of doubt,
uninsured losses shall not mean losses for which Landlord is required to
maintain insurance hereunder and for which Landlord fails to maintain such
required insurance.  Losses and damages
caused by Tenant or any Tenant Party shall be repaired by Landlord, to the
extent not covered by insurance, at Tenant’s sole cost and expense.  Landlord reserves the right to stop Building
Systems services when necessary (i) by reason of accident or emergency, or (ii)
for planned repairs, alterations or improvements, which are, in the judgment of
Landlord, desirable or necessary to be made, until said repairs, alterations or
improvements shall have been completed. 
Landlord shall have no responsibility or liability for failure to supply
Building Systems services during any such period of interruption; provided,
however, that Landlord shall, except in case of emergency, make a
commercially reasonable effort to give Tenant 24 hours advance notice of any
planned stoppage of Building Systems services for routine maintenance, repairs,
alterations or improvements.  Landlord
agrees to use commercially reasonable efforts not to interfere with the conduct
of Tenant’s ordinary business operations at the Premises during access of the
Premises.  Tenant shall promptly give
Landlord written notice of any repair required by Landlord pursuant to this Section,
after which Landlord shall have a reasonable opportunity to effect such
repair.  Landlord shall not be liable for
any failure to make any repairs or to perform any maintenance unless such
failure shall persist for an unreasonable time after Tenant’s written notice of
the need for such repairs or maintenance. 
Tenant waives its rights under any state or local law to terminate this
Lease or to make such repairs at Landlord’s expense and agrees that the parties’
respective rights with respect to such matters shall be solely as set forth
herein.  Repairs required as the result
of fire, earthquake, flood, vandalism, war, or similar cause of damage or
destruction shall be controlled by Section 18.

14.           Tenant’s Repairs. 
Subject to Section 13 hereof, Tenant, at its expense, shall
repair, replace and maintain in the same condition as of the Commencement Date
or as thereafter improved in compliance with the terms hereof, reasonable wear
and tear, Landlord’s repair obligations, any damage directly resulting from
default by Landlord, a fire or other casualty that is governed by Section 18
and uninsured losses not caused by Tenant or any Tenant Party excepted, all
portions of the Premises, including, without limitation, entries, doors,
ceilings, interior windows, interior walls, and the interior side of demising
walls; for the avoidance of doubt, uninsured losses shall not mean losses for
which Tenant is required to maintain insurance hereunder and for which Tenant
fails to maintain such required insurance.

 13
 

Such repair and replacement may include capital expenditures and
repairs whose benefit may extend beyond the Term.  Should Tenant fail to make any such repair or
replacement or fail to maintain the Premises, Landlord shall give Tenant notice
of such failure.  If Tenant fails to
commence cure of such failure within 10 days of Landlord’s notice, and
thereafter diligently prosecute such cure to completion, Landlord may perform
such work and shall be reimbursed by Tenant within 10 days after demand
therefor for the reasonable out-of-pocket costs of such cure; provided,
however, that if such failure by Tenant creates or could create an emergency,
Landlord may immediately commence cure of such failure and shall thereafter be
entitled to recover the costs of such cure from Tenant.  Subject to Sections 17 and 18,
Tenant shall bear the full uninsured cost of any repair or replacement to any
part of the Project that results from damage caused by Tenant or any Tenant
Party and any repair that benefits only the Premises.

15.           Mechanic’s Liens.  Tenant shall discharge, by bond or otherwise,
any mechanic’s lien filed against the Premises or against the Project for work
claimed to have been done for, or materials claimed to have been furnished to,
Tenant within 10 days after the filing thereof, at Tenant’s sole cost and shall
otherwise keep the Premises and the Project free from any liens arising out of
work performed, materials furnished or obligations incurred by Tenant.  Should Tenant fail to discharge any lien described
herein, Landlord shall have the right, but not the obligation, to pay such
claim or post a bond or otherwise provide security to eliminate the lien as a
claim against title to the Project and the cost thereof shall be immediately
due from Tenant as Additional Rent.  If
Tenant shall lease or finance the acquisition of office equipment, furnishings,
or other personal property of a removable nature utilized by Tenant in the
operation of Tenant’s business, Tenant warrants that any Uniform Commercial
Code Financing Statement filed as a matter of public record by any lessor or
creditor of Tenant will upon its face or by exhibit thereto indicate that such
Financing Statement is applicable only to removable personal property of Tenant
located within the Premises.  In no event
shall the address of the Project be furnished on the statement without
qualifying language as to applicability of the lien only to removable personal
property, located in an identified suite held by Tenant.

16.           Indemnification.  Tenant hereby indemnifies and agrees to
defend, save and hold Landlord harmless from and against any and all Claims for
injury or death to persons or damage to property occurring within or about the
Premises, arising directly or indirectly out use or occupancy of the Premises or
a breach or default by Tenant in the performance of any of its obligations
hereunder, unless caused solely by the willful misconduct or negligence of
Landlord.  Landlord shall not be liable
to Tenant for, and Tenant assumes all risk of damage to, personal property
(including, without limitation, loss of records kept within the Premises).  Tenant further hereby irrevocably waives any
and all Claims for injury to Tenant’s business or loss of income relating to
any such damage or destruction of personal property (including, without
limitation, any loss of records), unless caused by the willful misconduct or
negligence of Landlord.  Landlord shall
not be liable for any damages arising from any act, omission or neglect of any
tenant in the Project or of any other third party.

17.           Insurance.  Landlord
shall maintain all risk property and, if applicable, sprinkler damage insurance
covering the full replacement cost of the Project or such lesser coverage
amount as Landlord may elect provided such coverage amount is not less
than 90% of such full replacement cost, including Tenant Improvements (as
defined in and constructed pursuant to the Work Letter).  Landlord shall further procure and maintain
commercial general liability insurance with a single loss limit of not less
than $2,000,000 for bodily injury and property damage with respect to the
Project.  Landlord may, but is not
obligated to, maintain such other insurance and additional coverages as it may
deem necessary, including, but not limited to, flood, environmental hazard and
earthquake, loss or failure of building equipment, errors and omissions, rental
loss during the period of repair or rebuilding, workers’ compensation insurance
and fidelity bonds for employees employed to perform services and insurance for
any improvements installed by Tenant or which are in addition to the standard
improvements customarily furnished by Landlord without regard to whether or not
such are made a part of the Project.  All
such insurance shall be included as part of the Operating Expenses.  The Project may be included in a blanket
policy (in which case the cost of such insurance allocable to the Project will
be determined by Landlord based upon the insurer’s cost calculations).  Tenant shall also reimburse Landlord for any

 14
 

increased premiums or additional insurance which Landlord reasonably
deems necessary as a result of Tenant’s use of the Premises.

Tenant, at its sole cost and expense, shall maintain
during the Term:  all risk property
insurance with business interruption and extra expense coverage, covering the
full replacement cost of all property and improvements installed or placed in
the Premises by Tenant at Tenant’s expense; workers’ compensation insurance
with no less than the minimum limits required by law; employer’s liability
insurance with such limits as required by law; and commercial general liability
insurance, with a minimum limit of not less than $2,000,000 per occurrence for
bodily injury and property damage with respect to the Premises.  The commercial general liability
insurance policy shall name Landlord, its officers, directors, employees,
managers, agents, invitees and contractors and the Additional Insured Parties
(as defined in the next succeeding paragraph) (collectively, “Landlord Parties”), as additional insureds; insure on an
occurrence and not a claims-made basis; be issued by insurance companies which
have a rating of not less than policyholder rating of A and financial category
rating of at least Class X in “Best’s Insurance Guide”; shall not be cancelable
for nonpayment of premium unless 30 days prior written notice shall have been
given to Landlord from the insurer; contain a hostile fire endorsement and a
contractual liability endorsement; and provide primary coverage to Landlord
(any policy issued to Landlord providing duplicate or similar coverage shall be
deemed excess over Tenant’s policies). 
Copies of such policies (if requested 
by Landlord), or certificates of insurance showing the limits of
coverage required hereunder and showing Landlord as an additional insured,
along with reasonable evidence of the payment of premiums for the applicable
period, shall be delivered to Landlord by Tenant upon commencement of the Term
and upon each renewal of said insurance. 
Tenant’s policy may be a “blanket policy” with an aggregate per location
endorsement which specifically provides that the amount of insurance shall not
be prejudiced by other losses covered by the policy.  Tenant shall, at least 5 days prior to the
expiration of such policies, furnish Landlord with renewal certificates.

In each instance where insurance is to name Landlord
as an additional insured, Tenant shall upon written request of Landlord also
designate and furnish certificates so evidencing Landlord as additional insured
to the following parties (collectively “Additional
Insured Parties”):  (i) any
lender of Landlord holding a security interest in the Project or any portion
thereof and any servicer in connection therewith, (ii) the landlord under any
lease wherein Landlord is tenant of the real property on which the Project is
located, if the interest of Landlord is or shall become that of a tenant under
a ground or other underlying lease rather than that of a fee owner, (iii) any
management company retained by Landlord to manage the Project, (iv) the
condominium association with respect to the Condominium, (v) any member,
partner or shareholder of Landlord or the owner of any beneficial interest
therein or (vi) any other party reasonably designated by Landlord.

The property insurance obtained by Landlord and Tenant
shall include a waiver of subrogation by the insurers and all rights based upon
an assignment from its insured, against Landlord or Tenant, and their
respective officers, directors, employees, managers, agents, invitees and contractors
(“Related Parties”), in connection with
any loss or damage thereby insured against. 
Neither party nor its respective Related Parties shall be liable to the
other for loss or damage caused by any risk insured against under property insurance
required to be maintained hereunder, and each party waives any claims against
the other party, and its respective Related Parties, for such loss or
damage.  The failure of a party to insure
its property shall not void this waiver. 
Landlord and its respective Related Parties shall not be liable for, and
Tenant hereby waives all claims against such parties for, business interruption
and losses occasioned thereby sustained by Tenant or any person claiming
through Tenant resulting from any accident or occurrence in or upon the
Premises or the Project from any cause whatsoever unless due to Landlord’s
willful misconduct or gross negligence. 
If the foregoing waivers shall contravene any law with respect to
exculpatory agreements, the liability of Landlord or Tenant shall be deemed not
released but shall be secondary to the other’s insurer.

Landlord may require insurance policy limits to be
raised to conform with requirements of Landlord’s lender and/or to bring
coverage limits to levels then being generally required of new tenants of Class
A laboratory/office buildings in the Kendall Square, Cambridge, Massachusetts
area.

 15

18.           Restoration.  If, at any time during the Term, the Project
or the Premises are damaged or destroyed by a fire or other casualty, Landlord
shall notify Tenant within 60 days after discovery of such damage as to the
amount of time Landlord reasonably estimates it will take to restore the
Project or the Premises, as applicable (the “Restoration
Period”).  If the Restoration
Period is estimated to exceed 18 months from the date of such casualty
(the “Maximum Restoration Period”) or if the
casualty is an uninsured casualty, (which, for the avoidance of doubt, shall
not include casualties for which Landlord is required to maintain insurance
hereunder and for which Landlord fails to maintain such required insurance),
Landlord may, in such notice, elect to terminate this Lease as of the date that
is 75 days after the date of discovery of such damage or destruction; provided,
however, that
notwithstanding Landlord’s election to restore, Tenant may elect to terminate
this Lease by written notice to Landlord delivered within 5 business days of
receipt of a notice from Landlord estimating a Restoration Period for the
Premises longer than the Maximum Restoration Period.  Unless either Landlord or Tenant so elects to
terminate this Lease, Landlord shall, subject to receipt of sufficient
insurance proceeds (with any deductible to be treated as a current Operating
Expense), promptly restore the Premises (including the Tenant Improvements, as
defined in and constructed pursuant to the Work Letter) (excluding the
improvements installed by Tenant or by Landlord and paid for by Tenant),
subject to delays arising from the collection of insurance proceeds, from Force
Majeure events or as needed to obtain any license, clearance or other
authorization of any kind required to enter into and restore the Premises
issued by any Governmental Authority having jurisdiction over Tenant’s use,
storage, handling, treatment, generation, release, disposal, removal or
remediation of Hazardous Materials (as defined in Section 30) in, on or
about the Premises (collectively referred to herein as “Hazardous
Materials Clearances”); provided, however, that if
repair or restoration of the Premises is not substantially complete as of the
end of the Maximum Restoration Period or, if longer, the Restoration Period,
Landlord may, in its sole and absolute discretion, elect not to proceed with
such repair and restoration, or Tenant may by written notice to Landlord
delivered within 10 business days of the expiration of the Maximum Restoration
Period or, if longer, the Restoration Period, elect to terminate this Lease, in
which event Landlord shall be relieved of its obligation to make such repairs
or restoration and this Lease shall terminate as of the date that is 75 days
after the later of:  (i) discovery of such
damage or destruction, or (ii) the date all Hazardous Materials Clearances
required to be obtained by Tenant are obtained, but Landlord shall retain any
Rent paid and the right to any Rent payable by Tenant prior to such election by
Landlord or Tenant.

Tenant, at its expense, shall promptly perform,
subject to delays arising from the collection of insurance proceeds, from Force
Majeure (as defined in Section 34) events or to obtain Hazardous
Material Clearances, all repairs or restoration not required to be done by
Landlord and shall promptly re-enter the Premises and commence doing business
in accordance with this Lease. 
Notwithstanding the foregoing, Landlord may terminate this Lease if the
Premises are damaged during the last 12 months of the Term and Landlord
reasonably estimates that it will take more than 2 months to repair such damage, or if
insurance proceeds are not available for such restoration.  Rent shall be abated from the date all
required Hazardous Material Clearances are obtained until the Premises are
repaired and restored, in the proportion which the area of the Premises, if
any, which is not usable by Tenant bears to the total area of the Premises,
unless Landlord provides Tenant with other space during the period of repair
that is suitable for the temporary conduct of Tenant’s business.  Such abatement shall be the sole remedy of
Tenant, and except as provided in this Section 18, Tenant waives any
right to terminate the Lease by reason of damage or casualty loss.

The provisions of this Lease, including this Section
18, constitute an express agreement between Landlord and Tenant with
respect to any and all damage to, or destruction of, all or any part of the
Premises, or any other portion of the Project, and any statute or regulation which
is now or may hereafter be in effect shall have no application to this Lease or
any damage or destruction to all or any part of the Premises or any other
portion of the Project, the parties hereto expressly agreeing that this Section
18 sets forth their entire understanding and agreement with respect to such
matters.

19.           Condemnation.

(a)           If the whole or any material part of
the Premises or the Project is taken for any public or quasi-public use under
governmental law, ordinance, or regulation, or by right of eminent domain, or
by

 16
 

private purchase in lieu thereof (a “Taking” or “Taken”), and
the Taking would either prevent or materially interfere with Tenant’s use of
the Premises or materially interfere with or impair Landlord’s ownership or
operation of the Project, then upon written notice (a “Termination Notice”) by Landlord or Tenant
this Lease shall terminate and Rent shall be apportioned as of said date,
subject to the provisions of Section 19(b) below.  If part of the Premises shall be Taken, and this
Lease is not terminated as provided above, Landlord shall promptly restore the
Premises and the Project as nearly as is commercially reasonable under the
circumstances to their condition prior to such partial Taking and the rentable
square footage of the Building, the rentable square footage of the Premises,
Tenant’s Share of Operating Expenses and the Rent payable hereunder during the
unexpired Term shall be reduced to such extent as may be fair and reasonable
under the circumstances.  Upon any such Taking,
Landlord shall be entitled to receive the entire price or award from any such
Taking without any payment to Tenant, and Tenant hereby assigns to Landlord
Tenant’s interest, if any, in such award. 
Tenant shall have the right, to the extent that same shall not diminish
Landlord’s award, to make a separate claim against the condemning authority
(but not Landlord) for such compensation as may be separately awarded or
recoverable by Tenant for moving expenses and damage to Tenant’s trade
fixtures, if a separate award for such items is made to Tenant.  Tenant hereby waives any and all rights it
might otherwise have pursuant to any provision of state law to terminate this
Lease upon a partial Taking of the Premises or the Project.

(b)          Evaluation.

(i)            If either party sends a Termination
Notice and the other believes it was wrongly sent, then such objecting party
shall so notify the other party within 10 days of such Termination Notice.  Landlord and Tenant shall then meet within 7
days and make a good faith attempt to mutually appoint a single Evaluator
(defined below) to determine whether the Termination Notice was properly
sent.  If Landlord and Tenant are unable
to agree upon a single Evaluator, then each shall, by written notice delivered
to the other within 10 days after the meeting, select an Evaluator.  If either party fails to timely give notice
of its selection for an Evaluator, the other party’s position regarding the
Termination Notice shall conclusively be deemed correct.  The 2 Evaluators so appointed shall, within 5
business days after their appointment, appoint a third Evaluator.  If the 2 Evaluators so selected cannot agree
on the selection of the third Evaluator within the time above specified, then
either party, on behalf of both parties, may request such appointment of such
third Evaluator by application to any state court of general jurisdiction in
the jurisdiction in which the Premises are located, upon 10 days prior written
notice to the other party of such intent.

(ii)           The decision of the Evaluator(s)
shall be made within 30 days after the appointment of a single Evaluator or the
third Evaluator, as applicable.  The
decision of the single Evaluator shall be final and binding upon the parties.  The agreement of two Evaluators in a three
Evaluator panel shall be final and binding upon the parties.  Each party shall pay the fees and expenses of
the Evaluator appointed by or on behalf of such party and the fees and expenses
of the third Evaluator shall be borne equally by both parties.

(iii)          An “Evaluator” shall be any person
appointed by or on behalf of either party or appointed pursuant to the
provisions hereof and (i) shall be a licensed commercial real estate broker
with not less than 15 years experience representing landlords and/or tenants in
the leasing of high tech or life sciences space in the greater Boston
metropolitan area and (ii) be in all respects impartial and disinterested.

20.          Events of Default.  Each of the following events shall be a
default (“Default”) by Tenant under this Lease:

(a)           Payment Defaults.  Tenant shall fail to pay any installment of
Rent or any other payment hereunder when due; provided, however, that Landlord
will give Tenant notice and an opportunity to cure any failure to pay Rent
within 5 days of any such notice not more than once in any 12 month period and
Tenant agrees that such notice shall be in lieu of and not in addition to, or
shall be deemed to be, any notice required by law.

 17
 

(b)           Insurance.  Any insurance required to be maintained by
Tenant pursuant to this Lease shall be canceled or terminated or shall expire
or shall be reduced or materially changed, or Landlord shall receive a notice
of nonrenewal of any such insurance and Tenant shall fail to obtain replacement
insurance at least 20 days before the expiration of the current coverage.

(c)           Abandonment.  Tenant shall abandon the Premises.

(d)           Improper Transfer.  Tenant shall assign, sublease or otherwise
transfer or attempt to transfer all or any portion of Tenant’s interest in this
Lease or the Premises except as expressly permitted herein, or Tenant’s
interest in this Lease shall be attached, executed upon, or otherwise
judicially seized and such action is not released within 90 days of the action.

(e)           Liens.  Tenant shall fail to discharge or otherwise obtain
the release of any lien placed upon the Premises in violation of this Lease
within 10 days after any such lien is filed against the Premises.

(f)            Insolvency Events.  Tenant or any guarantor or surety of Tenant’s
obligations hereunder shall:  (A) make a
general assignment for the benefit of creditors; (B) commence any case,
proceeding or other action seeking to have an order for relief entered on its
behalf as a debtor or to adjudicate it a bankrupt or insolvent, or seeking
reorganization, arrangement, adjustment, liquidation, dissolution or
composition of it or its debts or seeking appointment of a receiver, trustee,
custodian or other similar official for it or for all or of any substantial
part of its property (collectively a “Proceeding for Relief”);
(C) become the subject of any Proceeding for Relief which is not dismissed
within 90 days of its filing or entry; or (D) die or suffer a legal disability
(if Tenant, guarantor, or surety is an individual) or be dissolved or otherwise
fail to maintain its legal existence (if Tenant, guarantor or surety is a
corporation, partnership or other entity).

(g)           Estoppel Certificate or
Subordination Agreement. 
Tenant fails to execute any document required from Tenant under Sections
23 or 27 within 10 days after a second written notice requesting
such document.

(h)           Other Defaults.  Tenant shall fail to comply with any
provision of this Lease other than those specifically referred to in this Section
20, and, except as otherwise expressly provided herein, such failure shall
continue for a period of 30 days after written notice thereof from Landlord to
Tenant.

Any notice given under Section 20(h) hereof
shall:  (i) specify the alleged default,
(ii) demand that Tenant cure such default, (iii) be in lieu of, and not in addition
to, or shall be deemed to be, any notice required under any provision of
applicable law, and (iv) not be deemed a forfeiture or a termination of this
Lease unless Landlord elects otherwise in such notice; provided that if
the nature of Tenant’s default pursuant to Section 20(h) is such that it
cannot be cured by the payment of money and reasonably requires more than 30
days to cure, then Tenant shall not be deemed to be in default if Tenant
commences such cure within said 30 day period and thereafter diligently
prosecutes the same to completion; provided, however, that such
cure shall be completed no later than 90 days from the date of Landlord’s
notice.

21.           Landlord’s
Remedies.

(a)           Payment
By Landlord; Interest.  Upon a
Default by Tenant hereunder, Landlord may, without waiving or releasing any
obligation of Tenant hereunder, make such payment or perform such act.  All sums so paid or incurred by Landlord,
together with interest thereon, from the date such sums were paid or incurred,
at the annual rate equal to 12% per annum or the highest rate permitted by law
(the “Default Rate”), whichever is less, shall be payable to Landlord on demand
as additional Rent.  Nothing herein shall
be construed to create or impose a duty on Landlord to mitigate any damages
resulting from Tenant’s Default hereunder.

 18
 

(b)           Late
Payment Rent.  Late payment by
Tenant to Landlord of Rent and other sums due will cause Landlord to incur
costs not contemplated by this Lease, the exact amount of which will be
extremely difficult and impracticable to ascertain.  Such costs include, but are not limited to,
processing and accounting charges and late charges which may be imposed on
Landlord under any Mortgage covering the Premises.  Therefore, if any installment of Rent due
from Tenant is not received by Landlord within 5 days after the date such
payment is due, Tenant shall pay to Landlord an additional sum of 6% of the
overdue Rent as a late charge.  The
parties agree that this late charge represents a fair and reasonable estimate
of the costs Landlord will incur by reason of late payment by Tenant.  In addition to the late charge, Rent not paid
when due shall bear interest at the Default Rate from the 5th day after the
date due until paid.

(c)           Remedies.  Upon the occurrence of a Default, Landlord,
at its option, without further notice or demand to Tenant, shall have in
addition to all other rights and remedies provided in this Lease, at law or in
equity, the option to pursue any one or more of the following remedies, each
and all of which shall be cumulative and nonexclusive, without any notice or
demand whatsoever.  No cure in whole or
in part of such Default by Tenant after Landlord has taken any action beyond
giving Tenant notice of such Default to pursue any remedy provided for herein
(including retaining counsel to file an action or otherwise pursue any
remedies) shall in any way affect Landlord’s right to pursue such remedy or any
other remedy provided Landlord herein or under law or in equity, unless
Landlord, in its sole discretion, elects to waive such Default.

(i)            This Lease and the Term and estate
hereby granted are subject to the limitation that whenever a Default shall have
happened and be continuing, Landlord shall have the right, at its election,
then or thereafter while any such Default shall continue and notwithstanding
the fact that Landlord may have some other remedy hereunder or at law or in
equity, to give Tenant written notice of Landlord’s intention to terminate this
Lease on a date specified in such notice, which date shall be not less than 5
days after the giving of such notice, and upon the date so specified, this
Lease and the estate hereby granted shall expire and terminate with the same
force and effect as if the date specified in such notice were the date hereinbefore
fixed for the expiration of this Lease, and all right of Tenant hereunder shall
expire and terminate, and Tenant shall be liable as hereinafter in this Section
21(c) provided.  If any such notice is
given, Landlord shall have, on such date so specified, the right of re-entry
and possession of the Premises and the right to remove all persons and property
therefrom and to store such property in a warehouse or elsewhere at the risk
and expense, and for the account, of Tenant. 
Should Landlord elect to re-enter as herein provided or should Landlord
take possession pursuant to legal proceedings or pursuant to any notice
provided for by law, Landlord may from time to time re-let the Premises or any
part thereof for such term or terms and at such rental or rentals and upon such
terms and conditions as Landlord may deem advisable, with the right to make
commercially reasonable alterations in and repairs to the Premises.

(ii)           In the event of any termination of
this Lease as in this Section 21 provided or as required or permitted by law or
in equity, Tenant shall forthwith quit and surrender the Premises to Landlord,
and Landlord may, without further notice, enter upon, re-enter, possess and
repossess the same by summary proceedings, ejectment or otherwise, and again
have, repossess and enjoy the same as if this Lease had not been made, and in
any such event Tenant and no person claiming through or under Tenant by virtue
of any law or an order of any court shall be entitled to possession or to
remain in possession of the Premises. 
Landlord, at its option, notwithstanding any other provision of this
Lease, shall be entitled to recover from Tenant, as and for liquidated damages,
the sum of:

(A)          all Base Rent, Additional Rent and
other amounts payable by Tenant hereunder then due or accrued and unpaid: and

(B)           the amount equal to the aggregate of
all unpaid Base Rent and Additional Rent which would have been payable if this
Lease had not been terminated prior to the end of the Term then in effect,
discounted to its then present value in

 19
 

accordance with accepted
financial practice using a rate of 5% per annum, for loss of the bargain; and

(C)           all other damages and expenses
(including attorneys’ fees and expenses), if any, which Landlord shall have
sustained by reason of the breach of any provision of this Lease; less

(D)          the net proceeds of any re-letting
actually received by Landlord and the amount of damages which Tenant proves
could have been avoided had Landlord taken reasonable steps to mitigate its
damages.

(iii)          Nothing herein contained shall limit
or prejudice the right of Landlord, in any bankruptcy or insolvency proceeding,
to prove for and obtain as liquidated damages by reason of such termination an
amount equal to the maximum allowed by any bankruptcy or insolvency
proceedings, or to prove for and obtain as liquidated damages by reason of such
termination, an amount equal to the maximum allowed by any statute or rule of
law, but in each case not more than the amount to which Landlord would
otherwise be entitled under this Section 21.

(iv)          Nothing in this Section 21 shall be
deemed to affect the right of either party to indemnifications pursuant to this
Lease.

(v)           If Landlord terminates this Lease
upon the occurrence of a Default, Tenant will quit and surrender the Premises
to Landlord or its agents, and Landlord may, without further notice, enter
upon, re-enter and repossess the Premises by summary proceedings, ejectment or
otherwise.  The words “enter”, “re-enter”,
and “re-entry” are not restricted to their technical legal meanings.

(vi)          If either party shall be in default in
the observance or performance of any provision of this Lease, and an action
shall be brought for the enforcement thereof, the non-prevailing party shall
pay to the prevailing party all fees, costs and other expenses which may become
payable as a result thereof or in connection therewith, including attorneys’
fees and expenses.

(vii)         If Tenant shall default in the keeping,
observance or performance of any covenant, agreement, term, provision or
condition herein contained, Landlord, without thereby waiving such default, may
perform the same for the account and at the expense of Tenant (a) immediately
or at any time thereafter and without notice in the case of emergency or in
case such default will result in a violation of any legal or insurance
requirements, or in the imposition of any lien against all or any portion of
the Premises (but only after Tenant has failed to respond to such lien as
permitted by Section 15 within the time period provided in Section 15), and (b)
in any other case if such default continues after any applicable notice and
cure period provided in Section 21.  All
reasonable costs and expenses incurred by Landlord in connection with any such
performance by it for the account of Tenant and also all reasonable costs and
expenses, including attorneys’ fees and disbursements incurred by Landlord in
any action or proceeding (including any summary dispossess proceeding) brought
by Landlord to enforce any obligation of Tenant under this Lease and/or right
of Landlord in or to the Premises, shall be paid by Tenant to Landlord within
10 days after demand.

(viii)        Independent of the exercise of any other
remedy of Landlord hereunder or under applicable law, Landlord may conduct an
environmental test of the Premises as generally described in Section 30(d), at
Tenant’s expense, to the extent provided in Section 30(d).

(ix)           Except as otherwise provided in this
Section 21, no right or remedy herein conferred upon or reserved to Landlord is
intended to be exclusive of any other right or remedy, and every right and
remedy shall be cumulative and in addition to any other legal or equitable

 20
 

right or remedy given
hereunder, or now or hereafter existing. 
No waiver of any provision of this Lease shall be deemed to have been
made unless expressly so made in writing. 
Landlord shall be entitled, to the extent permitted by law, to seek
injunctive relief in case of the violation, or attempted or threatened violation,
of any provision of this Lease, or to seek a decree compelling observance or
performance of any provision of this Lease, or to seek any other legal or
equitable remedy.

22.           Assignment
and Subletting.

(a)           General Prohibition.  Without Landlord’s prior written consent
subject to and on the conditions described in this Section 22, Tenant
shall not, directly or indirectly, voluntarily or by operation of law, assign
this Lease or sublease the Premises or any part thereof or mortgage, pledge, or
hypothecate its leasehold interest or grant any concession or license within
the Premises, and any attempt to do any of the foregoing shall be void and of
no effect.  If Tenant is a corporation,
partnership or limited liability company, the shares or other ownership
interests thereof which are not actively traded upon a stock exchange or in the
over-the-counter market, a transfer or series of transfers whereby 50% or more
of the issued and outstanding shares or other ownership interests of such
corporation are, or voting control is, transferred (but excepting transfers
upon deaths of individual owners) from a person or persons or entity or
entities which were owners thereof at time of execution of this Lease to
persons or entities who were not owners of shares or other ownership interests
of the corporation, partnership or limited liability company at time of
execution of this Lease (a “Corporate
Transfer”), shall be deemed an assignment of this Lease requiring
the consent of Landlord as provided in this Section 22.  Notwithstanding the foregoing, any public
offering of shares or other ownership interest in Tenant shall not be deemed an
assignment.

Permitted Transfers.  If Tenant desires to assign, sublease,
hypothecate or otherwise transfer this Lease or sublet the Premises other than
pursuant to a Permitted Assignment (as defined below), then at least 15
business days, but not more than 45 business days, before the date Tenant
desires the assignment or sublease to be effective (the “Assignment
Date”), Tenant shall give Landlord a notice (the “Assignment Notice”) containing such information about the
proposed assignee or sublessee, including the proposed use of the Premises and
any Hazardous Materials proposed to be used, stored handled, treated, generated
in or released or disposed of from the Premises, the Assignment Date, any
relationship between Tenant and the proposed assignee or sublessee, and all
material terms and conditions of the proposed assignment or sublease, including
a copy of any proposed assignment or sublease in draft or final form (provided
that if a draft form is provided, a copy of the proposed assignment or sublease
in its final form shall be provided to Landlord at least 5 business days prior
to the time Landlord’s written consent is to be given), its final form, and
such other information as Landlord may deem reasonably necessary or appropriate
to its consideration whether to grant its consent.  Landlord may, by giving written notice to
Tenant within 15 business days after receipt of the Assignment Notice:  (i) grant such consent, (ii) refuse such
consent, in its sole and absolute discretion, if the proposed assignment,
hypothecation or other transfer or subletting concerns more than (together with
all other then effective subleases) 50% of the Premises, (iii) refuse such
consent, in its reasonable discretion, if the proposed subletting concerns
(together with all other then effective subleases) 50% or less of the Premises
(provided that Landlord shall further have the right to review and approve or
disapprove the proposed form of sublease prior to the effective date of any
such subletting), or (iv) terminate this Lease with respect to the space
described in the Assignment Notice as of the Assignment Date (an “Assignment Termination”). 
If Landlord delivers notice of its election to exercise an Assignment
Termination, Tenant shall have the right to withdraw such Assignment Notice by
written notice to Landlord of such election within 5 business days after
Landlord’s notice electing to exercise the Assignment Termination.  If Tenant withdraws such Assignment Notice,
this Lease shall continue in full force and effect.  If Tenant does not withdraw such Assignment
Notice, this Lease, and the term and estate herein granted, shall terminate as
of the Assignment Date with respect to the space described in such Assignment
Notice.  No failure of Landlord to
exercise any such option to terminate this Lease, or to deliver a timely notice
in response to the Assignment Notice, shall be deemed to be Landlord’s consent
to the proposed assignment, sublease or other transfer.  Tenant shall reimburse Landlord for all of

 21
 

Landlord’s reasonable
out-of-pocket expenses in connection with its consideration of any Assignment
Notice.

Notwithstanding the foregoing, Landlord’s consent to
an assignment of this Lease or a subletting of any portion of the Premises to
any entity controlling, controlled by or under common control with Tenant shall
not be required, provided that Landlord shall have the right to approve the
form of any such sublease or assignment.

In addition, Tenant shall, upon 30 days prior written
notice to Landlord but without obtaining Landlord’s prior written consent, have
the right to make a Corporate Transfer not otherwise permitted hereunder or
assign this Lease to a corporation or other entity which is a successor-in-interest
to Tenant, by way of merger, consolidation or corporate reorganization, or by
the purchase of all or substantially all of the assets or the ownership
interests of Tenant provided that (i) such merger or consolidation, or such
Corporate Transfer, acquisition or assumption, as the case may be, is for a
good business purpose and not principally for the purpose of transferring the
Lease, and (ii) the net worth (as determined in accordance with generally
accepted accounting principles (“GAAP”)) of
Tenant after the Corporate Transfer or the assignee, as the case may be, is not
less than the net worth (as determined in accordance with GAAP) of Tenant as of
the date of Tenant’s most current quarterly or annual financial statements, and
(iii) any such assignee shall agree in writing to assume all of the terms,
covenants and conditions of this Lease arising after the effective date of the
assignment (a “Permitted Assignment”).

(b)          Additional Conditions.  As a condition to any such assignment or subletting,
whether or not Landlord’s consent is required, Landlord may require:

(i)            that any assignee or subtenant
agree, in writing at the time of such assignment or subletting, that if
Landlord gives such party notice that Tenant is in default under this Lease,
such party shall thereafter make all payments otherwise due Tenant directly to
Landlord, which payments will be received by Landlord without any liability
except to credit such payment against those due under the Lease, and any such
third party shall agree to attorn to Landlord or its successors and assigns
should this Lease be terminated for any reason; provided, however,
in no event shall Landlord or its successors or assigns be obligated to accept
such attornment; and

(ii)           A list of Hazardous Materials,
certified by the proposed assignee or sublessee to be true and correct, which
the proposed assignee or sublessee intends to use, store, handle, treat,
generate in or release or dispose of from the Premises, together with copies of
all documents relating to such use, storage, handling, treatment, generation,
release or disposal of Hazardous Materials by the proposed assignee or
subtenant in the Premises or on the Project, prior to the proposed assignment
or subletting, including, without limitation: 
permits; approvals; reports and correspondence; storage and management
plans; plans relating to the installation of any storage tanks to be installed
in or under the Project (provided, said installation of tanks shall only be
permitted after Landlord has given its written consent to do so, which consent
may be withheld in Landlord’s sole and absolute discretion); and all closure
plans or any other documents required by any and all federal, state and local
Governmental Authorities for any storage tanks installed in, on or under the
Project for the closure of any such tanks. 
Neither Tenant nor any such proposed assignee or subtenant is required,
however, to provide Landlord with any portion(s) of the such documents containing
information of a proprietary nature which, in and of themselves, do not contain
a reference to any Hazardous Materials or hazardous activities.

(c)          No Release of Tenant,
Sharing of Excess Rents. 
Notwithstanding any assignment or subletting, Tenant and any guarantor
or surety of Tenant’s obligations under this Lease shall at all times remain
fully and primarily responsible and liable for the payment of Rent and for
compliance with all of Tenant’s other obligations under this Lease.  If the Rent due and received from a sublessee
or assignee (or a combination of the rental received under such sublease or
assignment plus any bonus or other consideration therefor or incident thereto
in any form) exceeds the sum of  the rental payable under this
Lease, (excluding however, any Rent payable under this Section) and actual and reasonable brokerage fees,
legal costs and any design or construction fees (including build-out cost
allowances) directly related to and required pursuant to the terms of any such
sublease) (“Excess Rent”),
then Tenant shall be bound

 22
 

and obligated to pay Landlord as Additional Rent
hereunder 50% of such Excess Rent within 10 days following receipt thereof by
Tenant.  If Tenant shall sublet the
Premises or any part thereof, Tenant hereby immediately and irrevocably assigns
to Landlord, as security for Tenant’s obligations under this Lease, all rent
from any such subletting, and Landlord as assignee and as attorney-in-fact for
Tenant, or a receiver for Tenant appointed on Landlord’s application, may
collect such rent and apply it toward Tenant’s obligations under this Lease;
except that, until the occurrence of a Default, Tenant shall have the right to
collect such rent.

(d)           No Waiver.  The consent by Landlord to an assignment or
subletting shall not relieve Tenant or any assignees of this Lease or any
sublessees of the Premises from obtaining the consent of Landlord to any
further assignment or subletting nor shall it release Tenant or any assignee or
sublessee of Tenant from full and primary liability under the Lease.  The acceptance of Rent hereunder, or the
acceptance of performance of any other term, covenant, or condition thereof,
from any other person or entity shall not be deemed to be a waiver of any of
the provisions of this Lease or a consent to any subletting, assignment or
other transfer of the Premises.

(e)           Prior
Conduct of Proposed Transferee.  Notwithstanding
any other provision of this Section 22, if (i) the proposed assignee or
sublessee of Tenant has been required by any prior landlord, lender or
Governmental Authority to take remedial action in connection with Hazardous
Materials contaminating a property, where the contamination resulted from such
party’s action or use of the property in question, (ii) the proposed assignee
or sublessee is subject to an enforcement order issued by any Governmental
Authority in connection with the use, storage, handling, treatment, generation,
release or disposal of Hazardous Materials (including, without limitation, any
order related to the failure to make a required reporting to any Governmental
Authority), or (iii) because of the existence of a pre-existing environmental
condition in the vicinity of or underlying the Project, the risk that Landlord
would be targeted as a responsible party in connection with the remediation of
such pre-existing environmental condition would be materially increased or
exacerbated by the proposed use of Hazardous Materials by such proposed
assignee or sublessee, Landlord shall have the absolute right to refuse to
consent to any assignment or subletting to any such party.

23.           Estoppel Certificate.  Tenant shall, within 10 business days of
written notice from Landlord, execute, acknowledge and deliver a statement in
writing in any form reasonably requested by a proposed lender or purchaser, (i)
certifying that this Lease is unmodified and in full force and effect (or, if
modified, stating the nature of such modification and certifying that this
Lease as so modified is in full force and effect) and the dates to which the
rental and other charges are paid in advance, if any, (ii) acknowledging that
there are not, to Tenant’s knowledge, any uncured defaults on the part of
Landlord hereunder, or specifying such defaults if any are claimed, and (iii)
setting forth to the best of Tenant’s knowledge such further information with
respect to the status of this Lease or the Premises as may be requested
thereon.  Any such statement may be
relied upon by any prospective purchaser or encumbrancer of all or any portion
of the real property of which the Premises are a part.  Tenant’s failure to deliver such statement
within such time shall, at the option of Landlord, be conclusive upon Tenant
that the Lease is in full force and effect and without modification except as
may be represented by Landlord in any certificate prepared by Landlord and
delivered to Tenant for execution.  Upon
request by Tenant, Landlord will similarly execute an estoppel certificate: (i)
certifying that this Lease is unmodified and in full force and effect (or, if modified,
stating the nature of such modification and certifying that this Lease as so
modified is in full force and effect) and the dates to which the rental and
other charges are paid in advance, if any, (ii) acknowledging that there are
not, to Landlord’s knowledge, any uncured defaults on the part of Tenant
hereunder, or specifying such defaults if any are claimed and (iii) setting
forth to the best of Landlord’s knowledge such further information with respect
to the status of this Lease or the Premises as may be reasonably requested
thereon.

24.           Quiet Enjoyment.  So long as Tenant shall perform all of the
covenants and agreements herein required to be performed by Tenant, Tenant
shall, subject to the terms of this Lease, at all times during the Term, have
peaceful and quiet enjoyment of the Premises against any person claiming by,
through or under Landlord.

 23
 

25.           Prorations.  All prorations required or permitted to be
made hereunder shall be made on the basis of a 360 day year and 30 day months.

26.           Rules and Regulations.  Tenant shall, at all times during the Term
and any extension thereof, comply with all reasonable rules and regulations at
any time or from time to time established by Landlord covering use of the
Premises and the Project.  The current rules
and regulations are attached hereto as Exhibit E.  If there is any conflict between said rules
and regulations and other provisions of this Lease, the terms and provisions of
this Lease shall control.  Landlord shall
not have any liability or obligation for the breach of any rules or regulations
by other tenants in the Project and shall not enforce such rules and
regulations in a discriminatory manner.

27.           Subordination.  This Lease and Tenant’s interest and rights
hereunder are hereby made and shall be subject and subordinate at all times to
the lien of any Mortgage now existing or hereafter created on or against the
Project or the Premises, and all amendments, restatements, renewals,
modifications, consolidations, refinancing, assignments and extensions thereof,
without the necessity of any further instrument or act on the part of Tenant; provided,
however that so long as there is no Default hereunder, Tenant’s right to
possession of the Premises shall not be disturbed by the Holder of any such
Mortgage created after the date hereof (a “Future
Mortgage”) and Tenant’s rights hereunder shall be recognized by any
Holder of a Future Mortgage, subject to and in accordance with the terms of
such Holder’s standard form of subordination and non-disturbance
agreement.  Tenant agrees, at the
election of the Holder of any such Mortgage, to attorn to any such Holder.  Tenant agrees upon demand to execute,
acknowledge and deliver such instruments, confirming such subordination, and
such instruments of attornment as shall be requested by any such Holder, provided
any such instruments contain appropriate non-disturbance provisions assuring
Tenant’s quiet enjoyment of the Premises as set forth in Section 24
hereof.  Notwithstanding the foregoing,
any such Holder may at any time subordinate its Mortgage to this Lease, without
Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease
shall be deemed prior to such Mortgage without regard to their respective dates
of execution, delivery or recording and in that event such Holder shall have
the same rights with respect to this Lease as though this Lease had been
executed prior to the execution, delivery and recording of such Mortgage and
had been assigned to such Holder.  With
respect to any Holder of a Mortgage in existence as of the date hereof, Landlord
agrees to use commercially reasonable efforts in seeking the agreement of such
Holder to execute a subordination, non-disturbance and attornment agreement
with Tenant, satisfactory in form and substance to both Tenant and such Holder.  The term “Mortgage”
whenever used in this Lease shall be deemed to include deeds of trust, security
assignments, ground leases or other superior leases and any other encumbrances,
and any reference to the “Holder” of a
Mortgage shall be deemed to include the beneficiary under a deed of trust.

28.           Surrender.  Upon the expiration of the Term or earlier
termination of Tenant’s right of possession, Tenant shall surrender the
Premises to Landlord in the same condition as received, subject to any
Alterations or Installations permitted by Landlord to remain in the Premises,
free of Hazardous Materials brought upon, kept, used, stored, handled, treated,
generated in, or released or disposed of from, the Premises by any person other
than a Landlord Party (collectively, “Tenant HazMat Operations”)
and released of all Hazardous Materials Clearances, broom clean, ordinary wear
and tear and casualty loss and condemnation covered by Sections 18
and 19 and repairs for which Landlord is responsible or damage directly
resulting solely from default by Landlord under this Lease, excepted.  At least 3 months prior to the surrender of
the Premises, Tenant shall deliver to Landlord a narrative description of the
actions proposed (or required by any Governmental Authority) to be taken by
Tenant in order to surrender the Premises (including any Installations
permitted by Landlord to remain in the Premises) at the expiration or earlier
termination of the Term, free from any residual impact from the Tenant HazMat
Operations and otherwise released for unrestricted use and occupancy (the “Surrender Plan”). 
Such Surrender Plan shall be accompanied by a current listing of (i) all
Hazardous Materials licenses and permits held by or on behalf of any Tenant
Party with respect to the Premises, and (ii) all Hazardous Materials used,
stored, handled, treated, generated, released or disposed of from the Premises,
and shall be subject to the review and approval of Landlord’s environmental
consultant, such approval not to be unreasonably withheld or delayed.  In connection with the review and approval of
the Surrender Plan, upon the request of Landlord, Tenant shall deliver to
Landlord or its consultant such

 24
 

additional non-proprietary information concerning
Tenant HazMat Operations as Landlord shall request.  If Tenant has not received a written response
from Landlord on the Surrender Plan within 20 days after Tenant has delivered
the Surrender Plan, accompanied by such other material and information as may
be required in this Section 28, Tenant shall notify Landlord in the
manner set forth in Section 41(a) of such lack of response (the “Response Notice”).  A Response Notice shall be null and void
unless the first page thereof includes the following in bold-faced, all capital
letters type with at least a 12 pitch font: 
THIS IS A LEGAL NOTICE AND THE FAILURE
TO RESPOND WITHIN TEN (10) BUSINESS DAYS SHALL CAUSE THE FORFEITURE OF CERTAIN
RIGHTS UNDER SECTION 28 OF YOUR LEASE WITH SIRTRIS PHARMACEUTICALS, INC.
WITH RESPECT TO PREMISES AT 200 TECHNOLOGY SQUARE, CAMBRIDGE, MASSACHUSETTS.  If 10 business days have elapsed following
the date that Landlord has received the Response Notice to Landlord and
Landlord has not provided a written response to the Surrender Plan, the
Surrender Plan shall be deemed to be approved by Landlord.  On or before such surrender, Tenant shall
deliver to Landlord evidence that the approved Surrender Plan shall have been
satisfactorily completed and Landlord shall have the right, subject to
reimbursement at Tenant’s expense as set forth below, to cause Landlord’s
environmental consultant to inspect the Premises and perform such additional
procedures as may be deemed reasonably necessary to confirm that the Premises
are, as of the effective date of such surrender or early termination of the
Lease, free from any residual impact from Tenant HazMat Operations.  Tenant shall reimburse Landlord, as
Additional Rent, for the actual out-of pocket expense incurred by Landlord for
Landlord’s environmental consultant to review and approve the Surrender Plan and
to visit the Premises and verify satisfactory completion of the same, which
cost shall not exceed $5,000.  Landlord
shall have the unrestricted right to deliver such Surrender Plan and any report
by Landlord’s environmental consultant with respect to the surrender of the
Premises to third parties.

If Tenant shall fail to prepare or submit a Surrender
Plan approved by Landlord, or if Tenant shall fail to complete the approved
Surrender Plan, or if such Surrender Plan, whether or not approved by Landlord,
shall fail to adequately address any residual effect of Tenant HazMat
Operations in, on or about the Premises, Landlord shall have the right to take
such actions as Landlord may deem reasonable or appropriate to assure that the
Premises and the Project are surrendered free from any residual impact from
Tenant HazMat Operations, the cost of which actions shall be reimbursed by
Tenant as Additional Rent, without regard to the limitation set forth in the
first paragraph of this Section 28.

Tenant shall immediately return to Landlord all keys
and/or access cards to parking, the Project, restrooms or all or any portion of
the Premises furnished to or otherwise procured by Tenant.  If any such access card or key is lost, Tenant
shall pay to Landlord, at Landlord’s election, either the cost of replacing
such lost access card or key or the cost of reprogramming the access security
system in which such access card was used or changing the lock or locks opened
by such lost key.  Any Tenant’s Property,
Alterations and property not so removed by Tenant as permitted or required
herein shall be deemed abandoned and may be stored, removed, and disposed of by
Landlord at Tenant’s expense, and Tenant waives all claims against Landlord for
any damages resulting from Landlord’s retention and/or disposition of such
property.  All obligations of Tenant
hereunder not fully performed as of the termination of the Term, including the
obligations of Tenant under Section 30 hereof, shall survive the
expiration or earlier termination of the Term, including, without limitation,
indemnity obligations, payment obligations with respect to Rent and obligations
concerning the condition and repair of the Premises.

29.           Waiver of Jury Trial.  TENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL
BY JURY OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER
SOUNDING IN CONTRACT, TORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING
OUT OF THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR
DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO.

30.           Environmental
Requirements.

(a)           Prohibition/Compliance/Indemnity.  Tenant shall not cause or permit any
Hazardous Materials (as hereinafter defined) to be brought upon, kept, used,
stored, handled, treated, generated  in
or about, or released or disposed of from, the Premises or the Project in
violation of applicable

 25
 

Environmental Requirements (as hereinafter defined) by
Tenant or any Tenant Party, it being acknowledged that the foregoing shall not
apply to Hazardous Materials that Tenant conclusively proves to have been in
place in the Premises (through no act or omission of Tenant, its agents or
invitees) prior to the Commencement Date, Tenant having the burden of proof in
connection therewith and being obligated hereunder until the same has been so
proved or acknowledged by Landlord.  If
Tenant breaches the obligation stated in the preceding sentence, or if the
presence of Hazardous Materials in the Premises during the Term or any holding
over results in contamination of the Premises, the Project or any adjacent
property or if contamination of the Premises, the Project or any adjacent
property by Hazardous Materials brought into, kept, used, stored, handled,
treated, generated in or about, or released or disposed of from, the Premises
by anyone other than Landlord and Landlord’s employees, agents and contractors
otherwise occurs during the Term or any holding over, Tenant hereby indemnifies
and shall defend and hold Landlord, its officers, directors, employees, agents
and contractors harmless from any and all actions (including, without
limitation, remedial or enforcement actions of any kind, administrative or
judicial proceedings, and orders or judgments arising out of or resulting
therefrom), costs, claims, damages (including, without limitation, punitive
damages and damages based upon diminution in value of the Premises or the
Project, or the loss of, or restriction on, use of the Premises or any portion
of the Project), expenses (including, without limitation, reasonable attorneys’,
consultants’ and experts’ fees, court costs and amounts paid in settlement of
any claims or actions), fines, forfeitures or other civil, administrative or
criminal penalties, injunctive or other relief (whether or not based upon
personal injury, property damage, or contamination of, or adverse effects upon,
the environment, water tables or natural resources), liabilities or losses
(collectively, “Environmental Claims”) which arise
during or after the Term as a result of such contamination.  Except as and to the extent otherwise
expressly set forth above, this indemnification of Landlord by Tenant includes,
without limitation, costs incurred in connection with any investigation of site
conditions or any cleanup, treatment, remedial, removal, or restoration work
required by any federal, state or local Governmental Authority because of
Hazardous Materials present in the air, soil or ground water above, on, or
under the Premises.  Without limiting the
foregoing, if the presence of any Hazardous Materials on the Premises, the
Building, the Project or any adjacent property caused or permitted by Tenant or
any Tenant Party results in any contamination of the Premises,  the Building, the Project or any adjacent property, Tenant
shall promptly take all actions at its sole expense and in accordance with
applicable Environmental Requirements as are necessary to return the Premises,  the Building, the Project or any adjacent property to the
condition existing prior to the time of such contamination, provided that Landlord’s
approval of such action shall first be obtained, which approval shall not
unreasonably be withheld so long as such actions would not potentially have any
material adverse long-term or short-term effect on the Premises  , the Building or the Project.

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

 26
 

for any storage tanks installed in, on or under the
Project for the closure of any such tanks; and a Surrender Plan (to the extent
surrender in accordance with Section 28 cannot be accomplished in 3
months).  Tenant is not required,
however, to provide Landlord with any portion(s) of the Haz Mat Documents
containing information of a proprietary nature which, in and of themselves, do not
contain a reference to any Hazardous Materials or hazardous activities.  It is not the intent of this Section to
provide Landlord with information which could be detrimental to Tenant’s
business should such information become possessed by Tenant’s competitors.

(c)           Tenant Representation and
Warranty.  Tenant hereby
represents and warrants to Landlord that (i) neither Tenant nor any of its
legal predecessors has been required by any prior landlord, lender or
Governmental Authority at any time to take remedial action in connection with
Hazardous Materials contaminating a property which contamination was permitted
by Tenant of such predecessor or resulted from Tenant’s or such predecessor’s
action or use of the property in question, and (ii) Tenant is not subject to
any enforcement order issued by any Governmental Authority in connection with
the use, storage, handling, treatment, generation, release or disposal of
Hazardous Materials (including, without limitation, any order related to the
failure to make a required reporting to any Governmental Authority).  If Landlord reasonably determines that this
representation and warranty was not true as of the date of this lease, Landlord
shall have the right to terminate this Lease in Landlord’s sole and absolute
discretion.

(d)           Testing.  Landlord shall have the right to
conduct annual tests of the Premises to determine whether any contamination of
the Premises or the Project has occurred as a result of Tenant’s use.  Tenant shall be required to pay the
reasonable cost of such annual test of the Premises; provided, however, that if
Tenant conducts its own tests of the Premises using third party contractors and
test procedures acceptable to Landlord which tests are certified to Landlord,
Landlord shall accept such tests in lieu of the annual tests to be paid for by
Tenant.  In addition, at any time, and
from time to time, prior to the expiration or earlier termination of the Term,
if required by a lender, potential lender, purchaser, potential purchaser,
investor, potential investor or Governmental Authority or if Landlord has
reason to believe that contamination may have occurred, Landlord shall have the
right, upon 7 days notice or such shorter period required by any other such
party, to conduct appropriate tests of the Premises and the Project to
determine if contamination has occurred as a result of Tenant’s use of the
Premises.  In connection with such
testing, upon the request of Landlord, Tenant shall deliver to Landlord or its
consultant such non-proprietary information concerning the use of Hazardous
Materials in or about the Premises by Tenant or any Tenant Party.  Any consultant of Landlord that Landlord
permits to access the Premises shall have reasonably adequate types and amounts
of insurance and shall not unreasonably interfere with Tenant’s use and
occupancy of the Premises.  If
contamination has occurred for which Tenant is liable under this Section 30,
Tenant shall pay all costs to conduct such tests.  If no such contamination is found, Landlord
shall pay the costs of such tests (which shall not constitute an Operating
Expense).  Landlord shall provide Tenant
with a copy of all third party, non-confidential reports and tests of the
Premises made by or on behalf of Landlord during the Term without
representation or warranty and subject to a confidentiality agreement.  Tenant shall, at its sole cost and expense,
promptly and satisfactorily remediate any environmental conditions identified
by such testing in accordance with all Environmental Requirements.  Landlord’s receipt of or satisfaction with
any environmental assessment in no way waives any rights which Landlord may
have against Tenant.

(e)           Underground Tanks.  If underground or other storage tanks storing
Hazardous Materials located on the Premises or the Project are used by Tenant
or are hereafter placed on the Premises or the Project by Tenant, Tenant shall
install, use, monitor, operate, maintain, upgrade and manage such storage
tanks, maintain appropriate records, obtain and maintain appropriate insurance,
implement reporting procedures, properly close any underground storage tanks,
and take or cause to be taken all other actions necessary or required under
applicable state and federal Legal Requirements, as such now exists or may
hereafter be adopted or amended in connection with the installation, use,
maintenance, management, operation, upgrading and closure of such storage
tanks.

(f)            Tenant’s Obligations.  Tenant’s obligations under this Section 30
shall survive the expiration or earlier termination of the Lease.  During any period of time after the
expiration or earlier termination of this Lease required by Tenant or Landlord
to complete the removal from the Premises of

 27
 

any Hazardous Materials for which Tenant is
responsible under this Section 30 (including, without limitation, the
release and termination of any licenses or permits restricting the use of the
Premises and the completion of the approved Surrender Plan), Tenant shall
continue to pay the full Rent in accordance with this Lease for any portion of
the Premises not relet by Landlord in Landlord’s sole discretion, which Rent
shall be prorated daily.

(g)           Reports.  Whenever Landlord requests reports, documents
or other materials from Tenant relating to Hazardous Materials under this Lease
and such reports, documents or materials contain Tenant’s trade secrets or
proprietary information, Tenant may request Landlord to sign a mutually,
reasonably acceptable form of confidentiality agreement and failing Landlord’s
execution of the same, Tenant may redact any trade secrets or proprietary
information from such reports, documents or other materials.

(h)           Definitions.  As used herein, the term “Environmental
Requirements” means all applicable present and future statutes,
regulations, ordinances, rules, codes, judgments, orders or other similar
enactments of any Governmental Authority regulating or relating to health,
safety, or environmental conditions on, under, or about the Premises or the
Project, or the environment, including without limitation, the following:  the Comprehensive Environmental Response,
Compensation and Liability Act; the Resource Conservation and Recovery Act; and
all state and local counterparts thereto, and any regulations or policies
promulgated or issued thereunder.  As
used herein, the term “Hazardous Materials”
means and includes any substance, material, waste, pollutant, or contaminant
listed or defined as hazardous or toxic, or regulated by reason of its impact
or potential impact on humans, animals and/or the environment under any
Environmental Requirements, asbestos and petroleum, including crude oil or any
fraction thereof, natural gas liquids, liquefied natural gas, or synthetic gas
usable for fuel (or mixtures of natural gas and such synthetic gas).  As defined in Environmental Requirements, Tenant
is and shall be deemed to be the “operator” of
Tenant’s “facility” and the “owner”
of all Hazardous Materials brought on the Premises by Tenant or any Tenant
Party, and the wastes, by-products, or residues generated, resulting, or
produced therefrom.

31.           Tenant’s
Remedies/Limitation of Liability. 
Landlord shall not be in default hereunder unless Landlord fails to
perform any of its obligations hereunder within 30 days after written notice
from Tenant specifying such failure (unless such performance will, due to the
nature of the obligation, require a period of time in excess of 30 days, then
after such period of time as is reasonably necessary).  Upon any default by Landlord, Tenant shall
give notice by registered or certified mail to any Holder of a Mortgage
covering the Premises and to any landlord of any lease of property in or on
which the Premises are located and Tenant shall offer such Holder and/or
landlord a reasonable opportunity to cure the default, including time to obtain
possession of the Project by power of sale or a judicial action if such should
prove necessary to effect a cure; provided Landlord shall have furnished
to Tenant in writing the names and addresses of all such persons who are to
receive such notices.  All obligations of
Landlord hereunder shall be construed as covenants, not conditions; and, except
as may be otherwise expressly provided in this Lease, Tenant may not terminate
this Lease for breach of Landlord’s obligations hereunder.

All obligations of Landlord under this Lease will be
binding upon Landlord only during the period of its ownership of the Premises
and not thereafter.  The term “Landlord” in this Lease shall mean only the owner for the
time being of the Premises.  Upon the
transfer by such owner of its interest in the Premises, such owner shall
thereupon be released and discharged from all obligations of Landlord
thereafter accruing, but such obligations shall be binding during the Term upon
each new owner for the duration of such owner’s ownership.

32.           Inspection and Access.  Landlord and its agents, representatives, and
contractors may enter the Premises at any reasonable time after notice to
Tenant (except in the event of an emergency when no notice shall be required)
to inspect the Premises and to make such repairs as may be required or
permitted pursuant to this Lease and for any other business purpose.  Landlord and Landlord’s representatives may
enter the Premises during business hours on not less than 48 hours advance
written notice (except in the case of emergencies in which case no such notice
shall be required and such entry may be at any time) for the purpose of
effecting any such repairs, inspecting the Premises, showing the

 28
 

Premises to prospective purchasers and, during the
last year of the Term, to prospective tenants or for any other business
purpose.  Landlord may erect a suitable
sign on the Premises stating the Premises are available to let or that the
Project is available for sale.  Landlord
may grant easements, make public dedications, designate Common Areas and create
restrictions on or about the Premises, provided that no such easement,
dedication, designation or restriction materially, adversely affects Tenant’s
use or occupancy of the Premises for the Permitted Use.  At Landlord’s request, Tenant shall execute
such instruments as may be necessary for such easements, dedications or
restrictions.  Tenant shall at all times,
except in the case of emergencies, have the right to escort Landlord or its
agents, representatives, contractors or guests while the same are in the
Premises, provided such escort does not materially and adversely affect
Landlord’s access rights hereunder. 
Landlord shall use commercially reasonable efforts not to materially
interfere with the conduct of Tenant’s ordinary business operations in the
Premises during any access of the Premises by Landlord.

33.           Security.  Tenant acknowledges and agrees that security
devices and services, if any, while intended to deter crime may not in given
instances prevent theft or other criminal acts and that Landlord is not
providing any security services with respect to the Premises.  Tenant agrees that Landlord shall not be
liable to Tenant for, and Tenant waives any claim against Landlord with respect
to, any loss by theft or any other damage suffered or incurred by Tenant in
connection with any unauthorized entry into the Premises or any other breach of
security with respect to the Premises. 
Tenant shall be solely responsible for the personal safety of Tenant’s
officers, employees, agents, contractors, guests and invitees while any such
person is in, on or about the Premises and/or the Project.  Tenant shall at Tenant’s cost obtain
insurance coverage to the extent Tenant desires protection against such
criminal acts.

34.           Force Majeure.  Neither Landlord nor Tenant shall be
responsible or liable for delays in the performance of its obligations
hereunder when caused by, related to, or arising out of acts of God, strikes,
lockouts, or other labor disputes, embargoes, quarantines, weather, national,
regional, or local disasters, calamities, or catastrophes, inability to obtain
labor or materials (or reasonable substitutes therefor) at reasonable costs or
failure of, or inability to obtain, utilities necessary for performance,
governmental restrictions, orders, limitations, regulations, or controls,
national emergencies, delay in issuance or revocation of permits, enemy or
hostile governmental action, terrorism, insurrection, riots, civil disturbance
or commotion, fire or other casualty, and other causes or events beyond the
reasonable control of Landlord (“Force Majeure”).  Notwithstanding the foregoing, financial
difficulty of Landlord or Tenant shall not be deemed to be Force Majeure and
Force Majeure shall not apply to any obligation to pay money hereunder.

35.           Brokers, Entire Agreement,
Amendment.  Landlord and
Tenant each represents and warrants that it has not dealt with any broker,
agent or other person (collectively, “Broker) in
connection with this transaction and that no Broker brought about this
transaction, other than Richards Barry Joyce & Partners and Cushman & Wakefield.  Landlord and Tenant each hereby agree
to indemnify and hold the other harmless from and against any claims by any
Broker, other than the broker, if any named in this Section 35,
claiming a commission or other form of compensation by virtue of having dealt
with Tenant or Landlord, as applicable, with regard to this leasing
transaction.  This Lease constitutes the entire agreement
between Landlord and Tenant pertaining to the lease of the Premises and
supersedes all other agreements, whether oral or written, pertaining to the
lease of the Premises, and no other agreements with respect thereto shall
be effective.  Any amendments or modifications of this Lease shall be in
writing and signed by both Landlord and Tenant, and any other attempted
amendment or modification of this Lease shall be void.

36.           Limitation on Landlord’s
Liability.  NOTWITHSTANDING
ANYTHING SET FORTH HEREIN OR IN ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT
TO THE CONTRARY:  (A) LANDLORD SHALL NOT
BE LIABLE TO TENANT OR ANY OTHER PERSON FOR (AND TENANT AND EACH SUCH OTHER
PERSON ASSUME ALL RISK OF) LOSS, DAMAGE OR INJURY, WHETHER ACTUAL OR
CONSEQUENTIAL TO:  TENANT’S PERSONAL
PROPERTY OF EVERY KIND AND DESCRIPTION, INCLUDING, WITHOUT LIMITATION TRADE
FIXTURES, EQUIPMENT, INVENTORY, SCIENTIFIC RESEARCH, SCIENTIFIC EXPERIMENTS,
LABORATORY

 29
 

ANIMALS, PRODUCT, SPECIMENS, SAMPLES, AND/OR
SCIENTIFIC, BUSINESS, ACCOUNTING AND OTHER RECORDS OF EVERY KIND AND DESCRIPTION
KEPT AT THE PREMISES AND ANY AND ALL INCOME DERIVED OR DERIVABLE THEREFROM; (B)
THERE SHALL BE NO PERSONAL RECOURSE TO LANDLORD FOR ANY ACT OR OCCURRENCE IN,
ON OR ABOUT THE PREMISES OR ARISING IN ANY WAY UNDER THIS LEASE OR ANY OTHER
AGREEMENT BETWEEN LANDLORD AND TENANT WITH RESPECT TO THE SUBJECT MATTER HEREOF
AND ANY LIABILITY OF LANDLORD HEREUNDER SHALL BE STRICTLY LIMITED SOLELY TO
LANDLORD’S INTEREST IN THE PROJECT OR ANY PROCEEDS FROM SALE OR CONDEMNATION
THEREOF AND ANY INSURANCE PROCEEDS PAYABLE IN RESPECT OF LANDLORD’S INTEREST IN
THE PROJECT OR IN CONNECTION WITH ANY SUCH LOSS; AND (C) IN NO EVENT SHALL ANY
PERSONAL LIABILITY BE ASSERTED AGAINST ANY OF LANDLORD’S OFFICERS, DIRECTORS,
EMPLOYEES, AGENTS OR CONTRACTORS.  UNDER
NO CIRCUMSTANCES SHALL LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS,
EMPLOYEES, AGENTS OR CONTRACTORS BE LIABLE FOR INJURY TO TENANT’S BUSINESS OR
FOR ANY LOSS OF INCOME OR PROFIT THEREFROM.

37.           Severability.  If any clause or provision of this Lease is
illegal, invalid or unenforceable under present or future laws, then and in
that event, it is the intention of the parties hereto that the remainder of
this Lease shall not be affected thereby. 
It is also the intention of the parties to this Lease that in lieu of
each clause or provision of this Lease that is illegal, invalid or
unenforceable, there be added, as a part of this Lease, a clause or provision
as similar in effect to such illegal, invalid or unenforceable clause or
provision as shall be legal, valid and enforceable.

38.           Signs; Exterior Appearance.  Tenant shall not, without the prior written
consent of Landlord, which may be granted or withheld in Landlord’s sole
discretion:  (i) attach any awnings,
exterior lights, decorations, balloons, flags, pennants, banners, painting or
other projection to any outside wall of the Project, (ii) use any curtains,
blinds, shades or screens other than Landlord’s standard window coverings,
(iii) coat or otherwise sunscreen the interior or exterior of any windows, (iv)
place any bottles, parcels, or other articles on the window sills, (v) place
any equipment, furniture or other items of personal property on any exterior
balcony, or (vi) paint, affix or exhibit on any part of the Premises or the
Project any signs, notices, window or door lettering, placards, decorations, or
advertising media of any type which can be viewed from the exterior of the
Premises.  Interior signs on doors and
the directory tablet shall be inscribed, painted or affixed for Tenant by
Landlord at the sole cost and expense of Landlord, and shall be of a size,
color and type acceptable to Landlord. 
Nothing may be placed on the exterior of corridor walls or corridor
doors other than Landlord’s standard lettering. 
The directory tablet shall be provided exclusively for the display of
the name and location of tenants. 
Provided each of the following
conditions is met and remains satisfied: (a) Tenant is in occupancy of at least
four (4) entire floors of the Building under the Lease, and (b) Tenant is not
in default of any of its obligations under the Lease beyond any applicable
notice and cure periods (the “Signage
Conditions”), then Tenant shall have the right to exterior signage
at the Building in the form of 1 exterior Building sign at a single elevation (“Tenant’s Exterior Sign”).  The design, size, color, illumination (if
any), and location of Tenant’s Exterior Sign shall be subject to Landlord’s
prior written approval, and shall comply with all applicable laws, and Tenant’s
Exterior Sign shall be installed by Landlord at Tenant’s sole cost and
expense.  Tenant shall, at its sole cost
and expense, obtain all permits and governmental approvals necessary for the
installation of Tenant’s Exterior Sign, and shall provide a copies of all such
permits and evidence of such governmental approvals to Landlord prior to the
commencement of any work related to the installation of such sign.  The contractor(s) hired to install Tenant’s
Exterior Sign shall be selected by Landlord, and Tenant shall be responsible
for repairing any and all property damage relating to the installation or
removal of Tenant’s Exterior Sign.  If at
any time during the Term of this Lease either or both of the Signage Conditions
is not satisfied, Landlord shall have the right to remove Tenant’s Exterior
Sign at Tenant’s sole cost and expense.

39.           Right
to Expand.

(a)           Expansion in the Building.  Tenant shall have the right, but not the
obligation, to expand the Premises (the “Expansion Right”)
to include any Available Space located on the Fourth Floor

 30
 

of the Building upon the terms and conditions in this
Section.  For purposes of this Section
39(a), “Available Space” shall mean any
space located on the Fourth Floor of the Building which is not occupied by a
tenant or which is occupied by an existing tenant whose lease is expiring
within 6 months or less and such tenant does not wish to renew (whether or not
such tenant has a right to renew) its occupancy of such space.

(b)           Expansion
Prior to Commencement Date. 
From the date hereof until the Commencement Date, Tenant shall have the
right, exercisable upon 30 days’ prior written notice to Landlord, to expand
the Premises to include all, but not less than all, of the Available Space upon
all the same terms as conditions as are set forth in the Lease, except as
otherwise set forth in this Section 39(b).  In the event Tenant elects to so expand the
Premises to include the Available Space, (i) the Rent Commencement Date with
respect to the Available Space shall be the date that is 8 months after the
date on which Tenant exercises its Expansion Right, (ii) in lieu of the TI
Allowance set forth in the Work Letter attached to this Lease, Tenant shall
receive a tenant improvement allowance for the improvement of the Available
Space in an amount equal to the product of (X) $180.00 per rentable square foot
of the Available Space and (Y) a fraction, the numerator of which is the number
of months remaining in the Base Term following the Rent Commencement Date for
the Available Space, and the denominator of which is 120, (iii) all initial
improvements to the Available Space shall be performed in accordance with the
terms of the Work Letter attached to this Lease, provided however, that the
amount of the TI Allowance shall be determined in accordance with subsection (ii)
of this Section 39(b) and provided further that Sections 2(a), 2(b),
2(c) and 3(a) of the Work Letter shall be deleted and replaced with Sections 2(a),
2(b), 2(c) and 3(a) set forth on Exhibit G hereto, and (iv) Landlord and
Tenant shall promptly thereafter execute a mutually acceptable form of
amendment to the Lease memorializing the incorporation of the Available Space
into the Premises.  If:  (A) Tenant fails to timely deliver notice of
its election to expand the Premises to include all of the Available Space upon
all the same terms as conditions as are set forth in the Lease, or (B) after
the expiration of a period of 30 days from the date Tenant gives such notice,
no lease amendment or lease agreement for the Available Space has been
executed, and Landlord tenders to Tenant an amendment to this Lease setting
forth the terms for the rental of the Available Space consistent with this Section
39(b) and otherwise consistent with the terms of this Lease, and Tenant
fails to execute such Lease amendment within 10 business days following such
tender, Tenant shall be deemed to have waived its right to lease such Available
Space on the same terms and conditions as are set forth in the Lease (subject
to Tenant’s expansion right set forth in Section 39(c) below).

(c)             Expansion
Following Commencement Date. 
From and after the Commencement Date, if there is any Available Space,
then prior to offering any Available Space to a third party, Landlord shall, at
such time as Landlord shall elect so long as Tenant’s rights hereunder are
preserved, deliver to Tenant written notice (the “Expansion
Notice”) of such Available Space, together with the terms and
conditions on which Landlord is prepared to lease Tenant such Available
Space.  Tenant shall have 10 business
days following delivery of the Expansion Notice to deliver to Landlord written
notification of Tenant’s exercise of the Expansion Right, in which event Tenant shall be entitled to lease such Available
Space upon the terms and conditions set forth in the Expansion Notice.  If: 
(i) Tenant fails to timely deliver notice accepting the terms of an
Expansion Notice, or (ii) after the expiration of a period of 30 days from the
date Tenant gives notice accepting Landlord’s offer to lease such Available
Space, no lease amendment or lease agreement for the Available Space has been
executed, and Landlord tenders to Tenant an amendment to this Lease setting
forth the terms for the rental of the Available Space consistent with those set
forth in the Expansion Notice and otherwise consistent with the terms of this
Lease and Tenant fails to execute such Lease amendment within 10 business days
following such tender, Tenant shall be deemed to have waived its right to lease
such Available Space; provided, however, if Landlord desires to lease the
Available Space on economic terms more than 5% less favorable to Landlord (as
reasonably determined by Landlord), it must first offer the Available Space to
Tenant pursuant to a subsequent Expansion Notice and the provisions of this Section
39(c) shall apply to such subsequent Expansion Notice.

(d)           Exceptions.  Notwithstanding the above, the Expansion
Right shall not be in effect and may not be exercised by Tenant:

 31
 

(i)            during any period of time that
Tenant is in Default under any provision of the Lease; or

(ii)           if Tenant has been in Default under
any provision of the Lease 3 or more times, whether or not the Defaults are
cured, during the 12 month period prior to the date on which Tenant seeks to
exercise the Expansion Right.

(e)           Termination.  The Expansion Right shall terminate and be of
no further force or effect even after Tenant’s due and timely exercise of the
Expansion Right, if, after such exercise, but prior to the commencement date of
the lease of such Available Space, (i) Tenant fails to timely cure any default
by Tenant under the Lease; or (ii) Tenant has Defaulted 3 or more times during
the period from the date of the exercise of the Expansion Right to the date of
the commencement of the lease of the Available Space, whether or not such
Defaults are cured.

(f)            Rights Personal.  Expansion Rights are personal to Tenant and
are not assignable without Landlord’s consent, which may be granted or withheld
in Landlord’s sole discretion separate and apart from any consent by Landlord
to an assignment of Tenant’s interest in the Lease, except that they may be
assigned in connection with any Permitted Assignment of this Lease.

(g)           Security
Deposit Increase.  In the
event Tenant exercises its Expansion Right, the Security Deposit shall be
increased proportionately to reflect the increase in monthly Base Rent
resulting from the expansion of the Premises. 
In such event, Tenant shall cause to be delivered to Landlord, prior to
the date on which an amendment to the Lease is executed memorializing such expansion,
a replacement or supplementary letter of credit, in accordance with and subject
to the terms of Section 6, reflecting the increased amount of the
Security Deposit.

(h)           No Extensions.  The period of time within which any Expansion
Rights may be exercised shall not be extended or enlarged by reason of Tenant’s
inability to exercise the Expansion Rights.

40.           Right to Extend Term.  Tenant shall have the right to
extend the Term of the Lease upon the following terms and conditions:

(a)           Extension
Rights.  Tenant shall have 2
consecutive rights (each, an “Extension Right”)
to extend the term of this Lease for 5 years each (each, an “Extension Term”) on the same terms and conditions as this
Lease (other than Base Rent) by giving Landlord written notice of its election
to exercise each Extension Right at least 12 months prior, and no earlier than
18 months prior, to the expiration of the Base Term of the Lease or the
expiration of any prior Extension Term. 
Base Rent shall be adjusted (i) first, on the commencement date of such
Extension Term to the  Market Rate (as
defined below), and (ii) thereafter, on each annual anniversary of the
commencement of such Extension Term by multiplying the Base Rent payable
immediately before such adjustment by the Rent Adjustment Percentage and adding
the resulting amount to the Base Rent payable immediately before such
adjustment.  As used herein, “Market Rate” shall mean the then market rental rate as
determined by Landlord and agreed to by Tenant, for comparable first-class
office and laboratory space in the Kendall Square, Cambridge, Massachusetts
area, which shall in no event be less than the Base Rent payable as of the date
immediately preceding the commencement of such Extension Term.  In addition, Landlord may impose a market
rent for the parking rights provided hereunder. 
If, on or before the date which is 120 days prior to the expiration of
the Base Term of this Lease, or the expiration of any prior Extension Term,
Tenant has not agreed with Landlord’s determination of the Market Rate and the
rent escalations during such subsequent Extension Term after negotiating in
good faith, Tenant may by written notice to Landlord not later than 120 days
prior to the expiration of the Base Term of this Lease, or the expiration of
any then effective Extension Term, elect arbitration as described in Section
40(b) below.  If Tenant does not elect such arbitration,
Tenant shall be deemed to have waived any right to extend, or further extend,
the Term of the Lease and all of the remaining Extension Rights shall terminate.

 32
 

(b)          Arbitration.

(i)            Within
10 days of Tenant’s notice to Landlord of its election to arbitrate Market Rate
and escalations, each party shall deliver to the other a proposal containing
the Market Rate and escalations that the submitting party believes to be
correct (“Extension Proposal”).  If either party fails to timely submit an
Extension Proposal, the other party’s submitted proposal shall determine the
Base Rent and escalations for the Extension Term.  If both parties submit Extension Proposals,
then Landlord and Tenant shall meet within 7 days after delivery of the last
Extension Proposal and make a good faith attempt to mutually appoint a single
Arbitrator (and defined below) to determine the Market Rate and escalations.  If Landlord and Tenant are unable to agree
upon a single Arbitrator, then each shall, by written notice delivered to the
other within 10 days after the meeting, select an Arbitrator.  If either party fails to timely give notice
of its selection for an Arbitrator, the other party’s submitted proposal shall
determine the Base Rent for the Extension Term. 
The 2 Arbitrators so appointed shall, within 5 business days after their
appointment, appoint a third Arbitrator. 
If the 2 Arbitrators so selected cannot agree on the selection of the
third Arbitrator within the time above specified, then either party, on behalf
of both parties, may request such appointment of such third Arbitrator by
application to any state court of general jurisdiction in the jurisdiction in
which the Premises are located, upon 10 days prior written notice to the other
party of such intent.

(ii)           The decision of the Arbitrator(s)
shall be made within 30 days after the appointment of a single Arbitrator or
the third Arbitrator, as applicable.  The
decision of the single Arbitrator shall be final and binding upon the
parties.  The average of the two closest
Arbitrators in a three Arbitrator panel shall be final and binding upon the
parties.  Each party shall pay the fees
and expenses of the Arbitrator appointed by or on behalf of such party and the
fees and expenses of the third Arbitrator shall be borne equally by both
parties.  If the Market Rate and
escalations are not determined by the first day of the Extension Term, then
Tenant shall pay Landlord Base Rent in an amount equal to the Base Rent in
effect immediately prior to the Extension Term. 
After the determination of the Market Rate and escalations, the parties
shall make any necessary adjustments to such payments made by Tenant.  Landlord and Tenant shall then execute an
amendment recognizing the Market Rate and escalations for the Extension Term.

(iii)          An “Arbitrator”
shall be any person appointed by or on behalf of either party or appointed
pursuant to the provisions hereof and: 
(i) shall be (A) a member of the American Institute of Real Estate
Appraisers with not less than 10 years of experience in the appraisal of
improved office and high tech industrial real estate in the greater Boston
metropolitan area, or (B) a licensed commercial real estate broker with not
less than 15 years experience representing landlords and/or tenants in the
leasing of high tech or life sciences space in the greater Boston metropolitan
area, (ii) devoting substantially all of their time to professional appraisal
or brokerage work, as applicable, at the time of appointment and (iii) be in
all respects impartial and disinterested.

(c)          Rights Personal.  Extension Rights are personal to Tenant and
are not assignable without Landlord’s consent, which may be granted or withheld
in Landlord’s sole discretion separate and apart from any consent by Landlord
to an assignment of Tenant’s interest in the Premises, except that they may be
assigned in connection with any Permitted Assignment of this.

(d)          Exceptions.  Notwithstanding anything set forth above to
the contrary, Extension Rights shall not be in effect and Tenant may not
exercise any of the Extension Rights:

(i)            during any period of time that
Tenant is in Default under any provision of this Lease; or

 33
 

(ii)           if Tenant has been in Default under
any provision of this Lease 3 or more times, whether or not the Defaults are
cured, during the 12 month period immediately prior to the date that Tenant
intends to exercise an Extension Right, whether or not the Defaults are cured;
or

(iii)          if Tenant is not in occupancy of the
entire Premises demised hereunder both at the time of the exercise of any such
Extension Right and at the time of the commencement date of any such Extension
Term

(e)           No Extensions.  The period of time within which any Extension
Rights may be exercised shall not be extended or enlarged by reason of Tenant’s
inability to exercise the Extension Rights.

(f)            Termination.  The Extension Rights shall terminate and be
of no further force or effect even after Tenant’s due and timely exercise of an
Extension Right, if, after such exercise, but prior to the commencement date of
an Extension Term, (i) Tenant fails to timely cure any default by Tenant under
this Lease; or (ii) Tenant has Defaulted 3 or more times during the period from
the date of the exercise of an Extension Right to the date of the commencement
of the Extension Term, whether or not such Defaults are cured.

41.           Miscellaneous.

(a)           Notices.  All notices or other communications between
the parties shall be in writing and shall be deemed duly given upon delivery or
refusal to accept delivery by the addressee thereof if delivered in person, or
upon actual receipt if delivered by reputable overnight guaranty courier,
addressed and sent to the parties at their addresses set forth above.  Landlord and Tenant may from time to time by
written notice to the other designate another address for receipt of future
notices.

(b)           Joint and Several
Liability.  If and when
included within the term “Tenant,” as used
in this instrument, there is more than one person or entity, each shall be
jointly and severally liable for the obligations of Tenant.

(c)           Financial Information.  If at any time during the Term of the Lease,
Tenant is an entity other than a company the stock of which is publicly traded
on a nationally recognized stock exchange, Tenant shall furnish Landlord with
true and complete copies of (i) Tenant’s most recent audited annual financial
statements within 180 days of the end of each of Tenant’s fiscal years during
the Term, (ii) Tenant’s most recent unaudited quarterly financial statements
within 45 days of the end of each of Tenant’s first three fiscal quarters of
each of Tenant’s fiscal years during the Term, (iii) at Landlord’s request made
not more than once per calendar year, updated business plans, including cash
flow projections and/or pro forma balance sheets and income statements, all of
which shall be treated by Landlord as confidential information belonging to
Tenant, (iv) at Landlord’s request made not more than once per calendar year,
corporate brochures and/or profiles prepared by Tenant for prospective
investors, if any and (v) at Landlord’s request made not more than once per
calendar year, any other financial information or summaries that Tenant
typically provides to its lenders or shareholders, if any.

(d)           Recordation.  Except to the extent necessary to comply with
the requirements of law or the regulations or policies of any securities
exchange (and then only after at least 10 business days’ prior notice to
Landlord), neither this Lease nor a memorandum of lease shall be filed by or on
behalf of Tenant in any public record. 
Landlord may prepare and file, and upon request by Landlord Tenant will
execute, a memorandum of lease.  Upon
request by Tenant, Landlord will execute and Tenant shall be permitted to
record a memorandum of lease.

(e)           Interpretation.  The normal rule of construction to the effect
that any ambiguities are to be resolved against the drafting party shall not be
employed in the interpretation of this Lease or any exhibits or amendments
hereto.  Words of any gender used in this
Lease shall be held and construed to include any other gender, and words in the
singular number shall be held to include the plural, unless the context
otherwise requires.  The captions
inserted in this Lease are for convenience only and in no way

 34
 

define, limit or otherwise describe the scope or
intent of this Lease, or any provision hereof, or in any way affect the
interpretation of this Lease.

(f)            Not Binding Until Executed.  The submission by Landlord to Tenant of this
Lease shall have no binding force or effect, shall not constitute an option for
the leasing of the Premises, nor confer any right or impose any obligations
upon either party until execution of this Lease by both parties.

(g)           Limitations on Interest.  It is expressly the intent of Landlord and
Tenant at all times to comply with applicable law governing the maximum rate or
amount of any interest payable on or in connection with this Lease.  If applicable law is ever judicially
interpreted so as to render usurious any interest called for under this Lease,
or contracted for, charged, taken, reserved, or received with respect to this
Lease, then it is Landlord’s and Tenant’s express intent that all excess
amounts theretofore collected by Landlord be credited on the applicable
obligation (or, if the obligation has been or would thereby be paid in full,
refunded to Tenant), and the provisions of this Lease immediately shall be
deemed reformed and the amounts thereafter collectible hereunder reduced,
without the necessity of the execution of any new document, so as to comply
with the applicable law, but so as to permit the recovery of the fullest amount
otherwise called for hereunder.

(h)           Choice of Law.  Construction and interpretation of this Lease
shall be governed by the internal laws of the state in which the Premises are
located, excluding any principles of conflicts of laws.

(i)            Time.  Time is of the essence as to the performance
of Tenant’s obligations under this Lease.

(j)            Incorporation by Reference.  All exhibits and addenda attached hereto are
hereby incorporated into this Lease and made a part hereof.  If there is any conflict between such
exhibits or addenda and the terms of this Lease, such exhibits or addenda shall
control.

(k)           Change in Form of
Ownership.  Pursuant to M.G.L.
Chapter 183A, Section 19, Landlord reserves the right to remove all or part of
the Condominium from the provisions of M.G.L. Chapter 183A.  In the event that Landlord does remove all or
part of the Condominium from the provisions of M.G.L. Chapter 183A, the amounts
payable by Tenant pursuant to this Lease shall not be greater than the amounts
that would have been otherwise payable by Tenant if Landlord had not removed
all or part of the Condominium from the provisions of M.G.L. Chapter 183A.

(l)            Hazardous Activities.  Notwithstanding any other provision of this
Lease, Landlord, for itself and its employees, agents and contractors, reserves
the right to refuse to perform any repairs or services in any portion of the
Premises which, pursuant to Tenant’s routine safety guidelines, practices or
custom or prudent industry practices, require any form of protective clothing
or equipment other than safety glasses. 
In any such case, Tenant shall contract with parties who are acceptable
to Landlord, in Landlord’s reasonable discretion, for all such repairs and
services, and Landlord shall, to the extent required, equitably adjust Tenant’s
Share of Operating Expenses in respect of such repairs or services to reflect
that Landlord is not providing such repairs or services to Tenant.

[ Signatures on next page
]

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

	
   

  	
  TENANT:

  
	
   

  	
   

  	
   

  
	
   

  	
  SIRTRIS PHARMACEUTICALS, INC.,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ GAREN BOHLIN

  
	
   

  	
  Its:

  	
  Chief Operating Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  LANDLORD:

  
	
   

  	
   

  
	
   

  	
  ARE-TECH SQUARE, LLC, a Delaware limited liability
  company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  ARE-MA REGION NO. 31, LLC, a Delaware limited

  liability company, its Member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  ALEXANDRIA REAL ESTATE EQUITIES, L.P.,

  a Delaware limited partnership, its Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  ARE-QRS CORP., a Maryland

  corporation, its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   /s/ Jackie Clem

  
	
   

  	
   

  	
   

  	
   

  	
    Name: Jackie Clem

  
	
   

  	
   

  	
   

  	
   

  	
    Title: Vice President

  
								

 

 36

EXHIBIT A TO LEASE

DESCRIPTION OF PREMISES

Exhibit A

200 Technology Square

First Floor

 1
 

Exhibit A

200 Technology Square

Second Floor

 2
 

Exhibit A

200 Technology Square

Third Floor

 3
 

Exhibit A

200 Technology Square

Fourth Floor

 4
 

Exhibit A

200 Technology Square

Basement Floor

 5

EXHIBIT B TO LEASE

DESCRIPTION OF PROJECT

The following parcels of
land in Cambridge, Middlesex County, Massachusetts:

The Registered Land shown
as Lots 15, 16 and 19 on Land Court Plan No. 30711E, Lot 43 on Land Court Plan
No. 30711J and Lots 46 and 47 on Land Court Plan No. 30711K, and

The Unregistered Land
shown as Area No. 1, Area No. 2, Area No. 3, Area No. 4, Area No. 5, Area No.
6, Area No. 7, Area No. 8 and Area No. 9 on a plan entitled “Plan of Land and
Easements, Cambridge, Mass.”  Prepared by
Raymond C. Pressey, Inc., dated June 1970 and recorded with the Middlesex South
Registry of Deeds in Book 11879, Page 393, Plan 852 (A of 2) of 1970.

Excepting therefrom that
portion taken by the Cambridge Redevelopment Authority Eminent Domain Taking
dated April 12, 1982 and recorded in Book 14590, Page 221 and that portion
taken by the Cambridge Redevelopment Authority Eminent Domain Taking dated
January 27, 1983 and recorded in Book 14891, Page 556.

Said parcels are also
described as Units 100, 200, 300, 400, 500, 600 and 700 of that certain
condominium known as the Technology Square Condominium, as set forth in that
certain Master Deed dated November 30, 2000, executed by Technology Square LLC,
and recorded with the Registry in Book 32159, at Page 490, and registered with
the Land Court as Document No. 1158816, under Certificate of Title No.
C404, as the same has been amended by that certain Amendment to Master Deed
dated May 28, 2002, and recorded with the Registry as Instrument No. 690 on
September 6, 2002, and registered with the Land Court as Document No. 1226564,
and as the same has been amended by that certain Second Amendment to Master
Deed dated as of November 15, 2002, and recorded with the Registry as
Instrument No. 1617 on September 23, 2003, and registered with the Land Court
as Document No. 1293465.

Together with the benefit
of the following:

1.              Terms and provisions of Reciprocal Easement Agreement dated April 18,
2000 by and between Technology Square LLC and the Charles Stark Draper
Laboratory, Inc. recorded in Book 31324, Page 262 and filed as Documents No.
1137080.

2.              Terms and provisions of Foundation, Grade Beam and Encroachment
Agreement dated March 11, 1975, filed as Document No. 531493, as amended by an
Amendment to Foundation Grade Beam and Encroachment Agreement, dated September
1, 1976, filed as Document No. 547840, affecting Lots 19 and 20, as affected by
Reciprocal Easement Agreement dated April 18, 2000 recorded in Book 31324, Page
262 and filed as Document No. 1137080.

 1

EXHIBIT C TO LEASE

WORK LETTER

THIS WORK LETTER (this “Work Letter”)
is incorporated into that certain Lease (the “Lease”)
dated as of June         , 2007 by and
between ARE-TECH SQUARE, LLC, a Delaware limited liability company (“Landlord”), and SIRTRIS PHARMACEUTICALS, INC., a Delaware
corporation (“Tenant”).  Any initially capitalized terms used but not
defined herein shall have the meanings given them in the Lease.

1.             General Requirements.

(a)           Tenant’s Authorized Representative.  Tenant designates Peggy Romero and Paul
Brannelly (either such individual acting alone, “Tenant’s Representative”) as
the only persons authorized to act for Tenant pursuant to this Work
Letter.  Landlord shall not be obligated
to respond to or act upon any request, approval, inquiry or other communication
(“Communication”) from or on behalf of Tenant in connection with this Work
Letter unless such Communication is in writing from Tenant’s
Representative.  Tenant may change either
Tenant’s Representative at any time upon not less than 5 business days advance
written notice to Landlord.  Neither
Tenant nor Tenant’s Representative shall be authorized to direct Landlord’s
contractors in the performance of Landlord’s Work (as hereinafter defined).

(b)           Landlord’s Authorized Representative.  Landlord designates Tom Andrews and Tim White
(either such individual acting alone, “Landlord’s Representative”) as the only
persons authorized to act for Landlord pursuant to this Work Letter.  Tenant shall not be obligated to respond to
or act upon any request, approval, inquiry or other Communication from or on
behalf of Landlord in connection with this Work Letter unless such
Communication is in writing from Landlord’s Representative.  Landlord may change either Landlord’s
Representative at any time upon not less than 5 business days advance written
notice to Tenant. Landlord’s Representative shall be the sole persons
authorized to direct Landlord’s contractors in the performance of Landlord’s
Work.

(c)           Architects, Consultants and Contractors.  Landlord and Tenant hereby acknowledge and
agree that:  (i) the general contractor
and any subcontractors for the Tenant Improvements shall be selected by
Landlord, subject to Tenant’s approval, which approval shall not be
unreasonably withheld, conditioned or delayed, and (ii) R.E. Dineen
Associates shall be the architect (the “TI Architect”) for the Tenant
Improvements.

2.             Tenant Improvements.

(a)           Tenant Improvements Defined.  As used herein, “Tenant Improvements” shall
mean all improvements to the Project of a fixed and permanent nature as shown
on the TI Construction Drawings, as defined in Section 2(c) below.  Other than Landlord’s Work (as defined in
Section 3(a) below, Landlord shall not have any obligation whatsoever with
respect to the finishing of the Premises for Tenant’s use and occupancy.

(b)           Tenant’s Space Plans.  Tenant’s schematic drawings and outline
specifications (the “TI Design Drawings”) detailing Tenant’s requirements for
the Tenant Improvements are attached hereto as Exhibit 1.  Not more than 10 days after the date of the
Lease, Landlord shall deliver to Tenant the written objections, questions or
comments of Landlord and the TI Architect with regard to the TI Design
Drawings.  Tenant shall cause the TI
Design Drawings to be revised to address such written comments and shall
resubmit said drawings to Landlord for approval within 10 days thereafter.  Such process shall continue until Landlord
has approved the TI Design Drawings.

(c)           Working Drawings.  Not Later than 10 business days following the
approval of the TI Design Drawings, Landlord shall cause the TI Architect to
prepare and deliver to Tenant for review and

 1
 

comment construction
plans, specifications and drawings for the Tenant Improvements (the “TI
Construction Drawings”), which TI Construction Drawings shall be prepared
substantially in accordance with the TI Design Drawings.  Tenant shall be solely responsible for
ensuring that the TI Construction Drawings reflect Tenant’s requirements for
the Tenant Improvements.  Tenant shall
deliver its written comments on the TI Construction Drawings to Landlord not
later than 10 business days after Tenant’s receipt of the same; provided,
however, that Tenant may not disapprove any matter that is consistent with the
TI Design Drawings without submitting a Change Request.  Landlord and the TI Architect shall consider
all such comments in good faith and shall, within 10 business days after
receipt, notify Tenant how Landlord proposes to respond to such comments, but
Tenant’s review rights pursuant to the foregoing sentence shall not delay the
design or construction schedule for the Tenant Improvements.  Any disputes in connection with such comments
shall be resolved in accordance with Section 2(d) hereof.  Provided that the design reflected in the TI Construction
Drawings is consistent with the TI Design Drawings, Tenant shall approve the TI
Construction Drawings submitted by Landlord, unless Tenant submits a Change
Request.  Once approved by Tenant,
subject to the provisions of Section 4 below, Landlord shall not materially
modify the TI Construction Drawings except as may be reasonably required in
connection with the issuance of the TI Permit (as defined in Section 3(b)
below).

(d)           Approval and Completion.  It is hereby acknowledged by Landlord and Tenant
that the TI Construction Drawings must be completed and approved not later than
June 15, 2007, in order for the Landlord’s Work to be Substantially Complete by
the Target Commencement Date (as defined in the Lease).  Upon any dispute regarding the design of the
Tenant Improvements, which is not settled within 10 business days after notice
of such dispute is delivered by one party to the other, Tenant may make the
final decision regarding the design of the Tenant Improvements, provided (i)
Tenant acts reasonably and such final decision is either consistent with or a
compromise between Landlord’s and Tenant’s positions with respect to such
dispute, (ii) that all costs and expenses resulting from any such decision by
Tenant shall be payable out of the TI Fund (as defined in Section 5(d) below),
and (iii) Tenant’s decision will not affect the base Building, structural
components of the Building or any Building systems.  Any changes to the TI Construction Drawings
following Landlord’s and Tenant’s approval of same requested by Tenant shall be
processed as provided in Section 4 hereof.

3.             Performance of Landlord’s Work.

(a)           Definition of Landlord’s Work.  As used herein, “Landlord’s Work” shall mean
the work of constructing the Tenant Improvements and completing the base
building work for the Building in accordance with the Base Building description
attached hereto as Exhibit 2.

(b)           Commencement and Permitting.  Landlord shall commence construction of the
Tenant Improvements upon obtaining a building permit (the “TI Permit”)
authorizing the construction of the Tenant Improvements consistent with the TI
Construction Drawings approved by Tenant. 
The cost of obtaining the TI Permit shall be payable from the TI Fund.  Tenant shall assist Landlord in obtaining the
TI Permit.  If any Governmental Authority
having jurisdiction over the construction of Landlord’s Work or any portion
thereof shall impose terms or conditions upon the construction thereof
that:  (i) are inconsistent with Landlord’s
obligations hereunder, (ii) increase the cost of constructing Landlord’s Work,
or (iii) will materially delay the construction of Landlord’s Work, Landlord
and Tenant shall reasonably and in good faith seek means by which to mitigate
or eliminate any such adverse terms and conditions.

(c)           Completion of Landlord’s Work.  On or before the Target Commencement Date
(subject to Tenant Delays and Force-Majeure Delays), Landlord shall
substantially complete or cause to be substantially completed Landlord’s Work
in a good and workmanlike manner, in accordance with the TI Permit subject, in
each case, to Minor Variations and normal “punch list” items of a non-material
nature that do not interfere with the use of the Premises and obtain a
certificate of occupancy or temporary certificate of occupancy from the office
of the Building Inspector of the City of Cambridge with respect to the Landlord’s
Work (“Substantial Completion” or “Substantially Complete”).  Upon Substantial Completion of Landlord’s
Work, Landlord shall require the TI Architect and the general contractor to
execute and deliver, for the benefit of Tenant and Landlord, a Certificate of
Substantial Completion in the form of the American Institute of Architects (“AIA”)
document G704.  For purposes of this Work
Letter,

 2
 

“Minor Variations” shall
mean any modifications reasonably required: 
(i) to comply with all applicable Legal Requirements and/or to obtain or
to comply with any required permit (including the TI Permit) provided that such
modification is not likely to have a material adverse effect on Tenant’s use of
the Premises or materially affect the ability to promptly obtain a permanent
Certificate of Occupancy for the Premises; (ii) to comply with any request by
Tenant for modifications to Landlord’s Work; (iii) to comport with good design,
engineering, and construction practices that are not material; or (iv) to make
reasonable adjustments for field deviations or conditions encountered during
the construction of Landlord’s Work.

(d)           Selection of Materials.  Where more than one type of material or
structure is indicated on the TI Construction Drawings approved by Landlord and
Tenant, the option will be selected at Landlord’s sole and absolute subjective
discretion.  As to all building materials
and equipment that Landlord is obligated to supply under this Work Letter,
Landlord shall select the manufacturer thereof in its sole and absolute
subjective discretion.

(e)           Delivery of the Premises.  When Landlord’s Work is Substantially
Complete, subject to the remaining terms and provisions of this Section 3(e),
Tenant shall accept the Premises.  Tenant’s
taking possession and acceptance of the Premises shall not constitute a waiver
of:  (i) any warranty with respect to
workmanship (including installation of equipment) or material (exclusive of
equipment provided directly by manufacturers), (ii) any non-compliance of
Landlord’s Work with applicable Legal Requirements, or (iii) any claim that
Landlord’s Work was not completed substantially in accordance with the TI
Construction Drawings (subject to Minor Variations and such other changes as
are permitted hereunder) (collectively, a “Construction Defect”).  Tenant shall have one year after Substantial
Completion within which to notify Landlord of any such Construction Defect
discovered by Tenant, and Landlord shall use reasonable efforts to remedy or
cause the responsible contractor to remedy any such Construction Defect within
30 days thereafter.  Notwithstanding the
foregoing, Landlord shall not be in default under the Lease if the applicable
contractor, despite Landlord’s reasonable efforts, fails to remedy such
Construction Defect within such 30-day period, in which case Landlord shall
have no further obligation with respect to such Construction Defect other than
to cooperate, at no cost to Landlord, with Tenant should Tenant elect to pursue
a claim against such contractor, provided that Tenant shall defend with counsel
reasonably acceptable to Landlord, indemnify and hold Landlord harmless from
and against any claims arising out of or in connection with any such claim.

Tenant shall be entitled to receive the benefit of all
construction warranties and manufacturer’s equipment warranties relating to
equipment installed in the Premises.  If
requested by Tenant, Landlord shall attempt to obtain extended warranties from
manufacturers and suppliers of such equipment, but the cost of any such
extended warranties shall be borne solely out of the TI Fund.  Landlord shall promptly undertake and
complete, or cause to be completed, all punch list items.

(f)            Commencement Date Delay.  Except as otherwise provided in the Lease,
Delivery of the Premises shall occur when Landlord’s Work has been
Substantially Completed, except to the extent that completion of Landlord’s
Work shall have been actually delayed by any one or more of the following
causes (“Tenant Delay”):

(i)            Tenant’s
Representative was not available to give or receive any Communication or to
take any other action required to be taken by Tenant hereunder;

(ii)           Tenant’s
request for Change Requests (as defined in Section 4(a) below) whether or not
any such Change Requests are actually performed;

(iii)          Construction
of any Change Requests;

(iv)          Tenant’s
request for materials, finishes or installations requiring unusually long lead
times;

 3
 

(v)           Tenant’s
delay in reviewing, revising or approving plans and specifications beyond the
periods set forth herein;

(vi)          Tenant’s
delay in providing information critical to the normal progression of the
Project.  Tenant shall provide such
information as soon as reasonably possible, but in no event longer than one
week after receipt of any request for such information from Landlord;

(vii)         Tenant’s
delay in making payments to Landlord for Excess TI Costs (as defined in Section
5(d) below); or

(viii)        Any
other act or omission by Tenant or any Tenant Party (as defined in the Lease),
or persons employed by any of such persons.

If Delivery is delayed for any of the foregoing
reasons, then Landlord shall cause the TI Architect to certify the date on
which the Tenant Improvements would have been completed but for such Tenant
Delay and such certified date shall be the date of Delivery.

4.             Changes. 
Any changes requested by Tenant to the Tenant Improvements after the
delivery and approval by Landlord of the TI Design Drawings shall be requested
and instituted in accordance with the provisions of this Section 4 and shall be
subject to the written approval of Landlord and the TI Architect, such approval
not to be unreasonably withheld, conditioned or delayed.

(a)           Tenant’s Request For Changes.  If Tenant shall request changes to the Tenant
Improvements (“Changes”), Tenant shall request such Changes by notifying
Landlord in writing in substantially the same form as the AIA standard change
order form (a “Change Request”), which Change Request shall detail the nature
and extent of any such Change.  Such
Change Request must be signed by Tenant’s Representative.  Landlord shall, before proceeding with any
Change, use commercially reasonable efforts to respond to Tenant as soon as is
reasonably possible with an estimate of: 
(i) the time it will take, and (ii) the architectural and engineering
fees and costs that will be incurred, to analyze such Change Request (which
costs shall be paid from the TI Fund to the extent actually incurred, whether or
not such change is implemented). 
Landlord shall thereafter submit to Tenant in writing, within 5 business
days of receipt of the Change Request (or such longer period of time as is
reasonably required depending on the extent of the Change Request), an analysis
of the additional cost or savings involved, including, without limitation,
architectural and engineering costs and the period of time, if any, that the
Change will extend the date on which Landlord’s Work will be Substantially
Complete.  Any such delay in the
completion of Landlord’s Work caused by a Change, including any suspension of
Landlord’s Work while any such Change is being evaluated and/or designed, shall
be Tenant Delay.

(b)           Implementation of Changes.  If Tenant: 
(i) approves in writing the cost or savings and the estimated extension
in the time for completion of Landlord’s Work, if any, and (ii) deposits with
Landlord any Excess TI Costs required in connection with such Change, Landlord
shall cause the approved Change to be instituted.  Notwithstanding any approval or disapproval
by Tenant of any estimate of the delay caused by such proposed Change, the TI
Architect’s determination of the amount of Tenant Delay in connection with such
Change shall be final and binding on Landlord and Tenant.

5.             Costs.

(a)           Budget For Tenant Improvements.  Before the commencement of construction of
the Tenant Improvements, Landlord shall obtain from The Richmond Group or
another contractor reasonably approved by Landlord and Tenant a detailed
breakdown by trade of the costs incurred or that will be incurred in connection
with the design and construction of the Tenant Improvements (the “Budget”).  The Budget shall be based upon the TI
Construction Drawings approved by Tenant and shall include a payment to Landlord
of administrative rent (“Administrative Rent”) equal to 3% of the TI Costs (net
of soft costs, including architectural, consulting and engineering costs) for
monitoring and inspecting the construction of the Tenant Improvements and
Changes, which sum shall be payable from the TI Fund (as

 4
 

defined in Section
5(d).  Administrative Rent shall include,
without limitation, all out-of-pocket costs, expenses and fees incurred by or
on behalf of Landlord arising from, out of, or in connection with monitoring the
construction of the Tenant Improvements and Changes, and shall be payable out
of the TI Fund.  If the Budget is greater
than the TI Allowance, Tenant shall deposit with Landlord the difference, in
cash, prior to the commencement of construction of the Tenant Improvements or
Changes, for disbursement by Landlord as described in Section 5(d).

(b)           TI Allowance.  Landlord shall provide to Tenant a tenant
improvement allowance (the “TI Allowance”) of $180.00 per rentable square foot
of the Premises (which, based on 44,084 rentable square feet initially demised
under the Lease, equates to $7,935,120.00 in the aggregate).  Within 10 business days of receipt of the
Budget from Landlord, Tenant shall notify Landlord how much of the TI Allowance
Tenant has elected to receive from Landlord. 
Such election shall be final and binding on Tenant, and may not
thereafter be modified without Landlord’s consent, which may be granted or
withheld in Landlord’s sole and absolute subjective discretion.  The TI Allowance shall be disbursed in
accordance with this Work Letter.  Tenant
shall have no right to the use or benefit (including any reduction to or
payment of Base Rent) of any portion of the TI Allowance not required for TI
Costs (“Unrequired TI Allowance”), except that Tenant shall be entitled to
receive any Unrequired TI Allowance with respect to any space leased to Tenant
directly by Landlord in the Building (pursuant to this Lease or otherwise), for
Alterations thereto provided that (i) such Alterations are completed no later
than twenty-four (24) months after the Commencement Date, (ii) the
disbursement of such Unrequired TI Allowance shall be subject to Landlord’s
reasonable requirements consistent with the Lease and this Work Letter and
(iii) a written request for such disbursement satisfying all such
requirements shall have been received by Landlord no later than twenty-four
(24) months after the Commencement Date.

(c)           Costs Includable in TI Fund.  The TI Fund shall be used solely for the
payment of design, permits and construction costs in connection with the
construction of the Tenant Improvements, including, without limitation, the
cost of electrical power and other utilities used in connection with the
construction of the Tenant Improvements, the cost of preparing the TI Design
Drawings and the TI Construction Drawings, all costs set forth in the Budget,
including Landlord’s Administrative Rent, Landlord’s out-of-pocket expenses,
costs resulting from Tenant Delays and the cost of Changes (collectively, “TI
Costs”), provided, however, that Tenant shall not be entitled to utilize any
more than 5% of the TI Allowance for architectural, consulting and engineering
costs.  Notwithstanding anything to the
contrary contained herein, the TI Fund shall not be used to purchase any
furniture, personal property or other non-Building system materials or
equipment, including, but not limited to, Tenant’s voice or data cabling,
non-ducted biological safety cabinets and other scientific equipment not
incorporated into the Tenant Improvements.

(d)           Excess TI Costs.  Landlord shall have no obligation to bear any
portion of the cost of any of the Tenant Improvements except to the extent of
the TI Allowance, it being agreed that Landlord will enter into a so-called “open
book” construction contract for the Tenant Improvements with The Richmond Group
or such other contractor reasonably approved by Landlord and Tenant.  If at any time the remaining TI Costs under
the Budget exceed the remaining unexpended TI Allowance, Tenant shall deposit
with Landlord, as a condition precedent to Landlord’s obligation to complete
the Tenant Improvements, 100% of the then current TI Cost in excess of the
remaining TI Allowance (“Excess TI Costs”). 
If Tenant fails to deposit any Excess TI Costs with Landlord, Landlord
shall have all of the rights and remedies set forth in the Lease for nonpayment
of Rent (including, but not limited to, the right to interest at the Default
Rate and the right to assess a late charge). 
For purposes of any litigation instituted with regard to such amounts,
those amounts will be deemed Rent under the Lease.  The TI Allowance and Excess TI Costs are
herein referred to as the “TI Fund.” 
Funds deposited by Tenant shall be the first disbursed to pay TI
Costs.  Notwithstanding anything to the
contrary set forth in this Section 5(d), Tenant shall be fully and solely
liable for TI Costs and the cost of Minor Variations in excess of the TI
Allowance.  If upon Substantial
Completion of the Tenant Improvements and the payment of all sums due in
connection therewith there remains any undisbursed portion of the TI Fund,
Tenant shall be entitled to such undisbursed TI Fund solely to the extent of
any Excess TI Costs deposit Tenant has actually made with Landlord.

 5
 

6.             Tenant Access.

(a)           Tenant’s Access Rights.  Landlord hereby agrees to permit Tenant
access, at Tenant’s sole risk and expense, to the Building (i) subject to
Landlord’s prior written consent, prior to the Commencement Date to perform any
work (“Tenant’s Work”) required by Tenant other than Landlord’s Work, provided
that such Tenant’s Work is coordinated with the TI Architect and the general
contractor, and complies with the Lease and all other reasonable restrictions
and conditions Landlord may impose, and (ii) prior to the completion of
Landlord’s Work, to inspect and observe work in process; all such access shall
be during normal business hours or at such other times as are reasonably
designated by Landlord.  Notwithstanding
the foregoing, Tenant shall have no right to enter onto the Premises or the
Project unless and until Tenant shall deliver to Landlord evidence reasonably
satisfactory to Landlord demonstrating that any insurance reasonably required
by Landlord in connection with such pre-commencement access (including, but not
limited to, any insurance that Landlord may require pursuant to the Lease) is
in full force and effect.  Any entry by
Tenant shall comply with all established safety practices of Landlord’s
contractor and Landlord until completion of Landlord’s Work and acceptance
thereof by Tenant.

(b)           No Interference.  Neither Tenant nor any Tenant Party (as
defined in the Lease) shall interfere with the performance of Landlord’s Work,
nor with any inspections or issuance of final approvals by applicable
Governmental Authorities, and upon any such interference, Landlord shall have
the right to exclude Tenant and any Tenant Party from the Premises and the
Project until Substantial Completion of Landlord’s Work.

(c)           No Acceptance of Premises.  The fact that Tenant may, with Landlord’s
consent, enter into the Project prior to the date Landlord’s Work is
Substantially Complete for the purpose of performing Tenant’s Work shall not be
deemed an acceptance by Tenant of possession of the Premises, but in such event
Tenant shall defend with counsel reasonably acceptable by Landlord, indemnify
and hold Landlord harmless from and against any loss of or damage to Tenant’s
property, completed work, fixtures, equipment, materials or merchandise, and
from liability for death of, or injury to, any person, caused by the act or
omission of Tenant or any Tenant Party.

7.             Miscellaneous.

(a)           Consents. 
Whenever consent or approval of either party is required under this Work
Letter, that party shall not unreasonably withhold, condition or delay such consent
or approval, unless expressly set forth herein to the contrary.

(b)           Modification.  No modification, waiver or amendment of this
Work Letter or of any of its conditions or provisions shall be binding upon
Landlord or Tenant unless in writing signed by Landlord and Tenant.

 6
 

 

Exhibit 1 to Work
Letter

TI Design Drawings

 7

Exhibit

Sirtris
Pharmaceuticals, Inc.

Document List

	
  No.

  	
   

  	
  Title

  	
   

  	
  Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Drawing prepared by R.E. Dinneen Architects &
  Planners, Inc. of Boston, MA

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  T-0.1

  	
   

  	
  Title Sheet - Drawing List

  	
   

  	
  5/18/07

  	
   

  
	
  T-0.2

  	
   

  	
  Code Plans

  	
   

  	
  5/18/07

  	
   

  
	
  T-0.3

  	
   

  	
  Partition Types, Misc.

  	
   

  	
  5/18/07

  	
   

  
	
  A-1.1

  	
   

  	
  First Floor Plan

  	
   

  	
  5/18/07

  	
   

  
	
  A-1.2

  	
   

  	
  Second Floor Construction Plan

  	
   

  	
  5/18/07

  	
   

  
	
  A-1.3

  	
   

  	
  Third Floor Construction Plan

  	
   

  	
  5/18/07

  	
   

  
	
  A-2.2

  	
   

  	
  Second Floor Reflected Ceiling Plan

  	
   

  	
  5/18/07

  	
   

  
	
  A-2.3

  	
   

  	
  Third Floor Reflected Ceiling Plan

  	
   

  	
  5/18/07

  	
   

  
	
  A-3.2

  	
   

  	
  Second Floor Furniture & Equipment Plan

  	
   

  	
  5/18/07

  	
   

  
	
  A-3.3

  	
   

  	
  Third Floor Furniture & Equipment Plan

  	
   

  	
  5/18/07

  	
   

  
	
  A-4.2

  	
   

  	
  Second Floor Finish Plan & Schedule

  	
   

  	
  5/18/07

  	
   

  
	
  A-4.3

  	
   

  	
  Third Floor Finish Plan & Schedule

  	
   

  	
  5/18/07

  	
   

  
	
  A-5.1

  	
   

  	
  Interior Elevations & Details

  	
   

  	
  5/18/07

  	
   

  
	
  A-5.2

  	
   

  	
  Interior Elevations & Details

  	
   

  	
  5/18/07

  	
   

  
	
  A-6.2

  	
   

  	
  Second Floor Sections & Details

  	
   

  	
  5/18/07

  	
   

  
	
  A-6.3

  	
   

  	
  Third Floor Sections & Details

  	
   

  	
  5/18/07

  	
   

  
	
  A-7.1

  	
   

  	
  Door Schedule

  	
   

  	
  5/18/07

  	
   

  
	
  A-8.1

  	
   

  	
  Lab Casework Elevations

  	
   

  	
  5/18/07

  	
   

  
	
  A-8.2

  	
   

  	
  Lab Casework Elevations

  	
   

  	
  5/18/07

  	
   

  
	
  A-8.3

  	
   

  	
  Lab Casework Elevations

  	
   

  	
  5/18/07

  	
   

  
	
  A-8.4

  	
   

  	
  Lab Casework Elevations

  	
   

  	
  5/18/07

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Drawings prepared by AHA Consulting Engineering,
  Inc. of Lexington, MA

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  P001

  	
   

  	
  Plumbing Legend

  	
   

  	
  5/18/07

  	
   

  
	
  P100

  	
   

  	
  Plumbing Basement Plan

  	
   

  	
  5/18/07

  	
   

  
	
  P101

  	
   

  	
  Plumbing First Floor Plan

  	
   

  	
  5/18/07

  	
   

  
	
  P102

  	
   

  	
  Plumbing Preliminary Layout Lower Floor

  	
   

  	
  5/18/07

  	
   

  
	
  P103

  	
   

  	
  Plumbing Preliminary Layout Upper Floor

  	
   

  	
  5/18/07

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  FA100

  	
   

  	
  Fire Alarm Legend, Details, Notes, &
  Specifications

  	
   

  	
  5/18/07

  	
   

  
	
  FA101

  	
   

  	
  Fire Alarm Upper & Lower Floor Plans

  	
   

  	
  5/18/07

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  FP100

  	
   

  	
  Fire Protection Ledgend, Details, Notes, &
  Specifications

  	
   

  	
  5/18/07

  	
   

  
	
  FP101

  	
   

  	
  Fire Protection Upper & Lower Floor Plans

  	
   

  	
  5/18/07

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  H001

  	
   

  	
  HVAC Legend, Abbreviations & General Notes

  	
   

  	
  5/18/07

  	
   

  
	
  H002

  	
   

  	
  HVAC Schedules

  	
   

  	
  5/18/07

  	
   

  
	
  H003

  	
   

  	
  HVAC Details 1

  	
   

  	
  5/18/07

  	
   

  
	
  H004

  	
   

  	
  HVAC Details 2

  	
   

  	
  5/18/07

  	
   

  
	
  H101

  	
   

  	
  HVAC Second Floor Plan

  	
   

  	
  5/18/07

  	
   

  
	
  H102

  	
   

  	
  HVAC Third Floor Plan

  	
   

  	
  5/18/07

  	
   

  

 

 8
 

 

	
  E001

  	
   

  	
  Electrical Legend & Notes

  	
   

  	
  5/18/07

  	
   

  
	
  E002

  	
   

  	
  Electrical Riser Diagram

  	
   

  	
  5/18/07

  	
   

  
	
  E102

  	
   

  	
  Electrical Second Floor Power Plan

  	
   

  	
  5/18/07

  	
   

  
	
  E103

  	
   

  	
  Electrical Third Floor Power Plan

  	
   

  	
  5/18/07

  	
   

  
	
  E202

  	
   

  	
  Electrical Second Floor Lighting Plan

  	
   

  	
  5/18/07

  	
   

  
	
  E203

  	
   

  	
  Electrical Third Floor Lighting Plan

  	
   

  	
  5/18/07

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Specifications prepared by AHA Consulting
  Engineering, Inc. of Lexington, MA

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  15300

  	
   

  	
  Fire Protection

  	
   

  	
  5/18/07

  	
   

  
	
  15400

  	
   

  	
  Plumbing

  	
   

  	
  5/18/07

  	
   

  
	
  15500

  	
   

  	
  Heating, Ventilating & Air Conditioning

  	
   

  	
  5/18/07

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  16000

  	
   

  	
  Electrical

  	
   

  	
  5/18/07

  	
   

  
	
  16700

  	
   

  	
  Fire Alarm

  	
   

  	
  5/18/07

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Misc. Documents

  	
   

  	
   

  	
   

  
	
  —

  	
   

  	
  Equipment Utility Matrix (The Richmond Group)

  	
   

  	
  5/30/07

  	
   

  
	
  —

  	
   

  	
  M/E/P/FP Basis of Design (AHA Consulting
  Engineering)

  	
   

  	
  rev 5/31/07

  	
   

  

 

 9

Exhibit
2 to Work Letter

Landlord’s
Work

Landlord’s Work

200
Technology Square – Core and Shell Upgrade

Richmond Project No. 120006

Drawing List

March 30, 2007

	
  Document
  Number

  	
   

  	
  Drawing Title

  	
   

  	
  Drawing Date

  
	
  A-0

  	
   

  	
  Cover Sheet

  	
   

  	
   

  
	
  A-0.1

  	
   

  	
  LEED Notes

  	
   

  	
  February 23, 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  C1.1

  	
   

  	
  Site Preparation Plan

  	
   

  	
  January 26, 2007

  
	
  C2.1

  	
   

  	
  Grading & Layout Plan

  	
   

  	
  February 23, 2007

  
	
  C3.1

  	
   

  	
  Utilities Plan

  	
   

  	
  February 23, 2007

  
	
  C4.1

  	
   

  	
  Civil Details

  	
   

  	
  January 26, 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  D1.0

  	
   

  	
  Ground Floor Demolition Plan

  	
   

  	
  January 26, 2007

  
	
  A2.0

  	
   

  	
  Basement Plan

  	
   

  	
  February 23, 2007

  
	
  A2.1

  	
   

  	
  Ground Floor Plan

  	
   

  	
  February 23, 2007

  
	
  A2.2

  	
   

  	
  Typical Floor Plan (Floors 2-9)

  	
   

  	
  January 26, 2007

  
	
  A2.3

  	
   

  	
  Tenth Floor Plan

  	
   

  	
  February 23, 2007

  
	
  A2.4

  	
   

  	
  Penthouse / Roof Plan

  	
   

  	
  February 23, 2007

  
	
  A2.5

  	
   

  	
  Doors / Partition Types & Schedules

  	
   

  	
  February 23, 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A3.1

  	
   

  	
  Loading Dock / Ramp Plan & Section

  	
   

  	
  February 23, 2007

  
	
  A3.2

  	
   

  	
  Loading Dock / Ramp Details

  	
   

  	
  January 26, 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A6.0

  	
   

  	
  Basement Reflected Ceiling Plan

  	
   

  	
  February 23, 2007

  
	
  A6.1

  	
   

  	
  Ground Floor Reflected Ceiling Plan

  	
   

  	
  February 23, 2007

  
	
  A6.2

  	
   

  	
  Tenth Floor Reflected Ceiling Plan

  	
   

  	
  January 26, 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  S1.0

  	
   

  	
  General Notes

  	
   

  	
  January 26, 2007

  
	
  S2.0

  	
   

  	
  First Floor / Foundation Framing Plan

  	
   

  	
  January 26, 2007

  
	
  S2.1

  	
   

  	
  Existing Second Floor Framing Plan

  	
   

  	
  January 26, 2007

  
	
  S2.2

  	
   

  	
  Existing 10th Floor and Roof Framing Plan

  	
   

  	
  February 23, 2007

  
	
  S2.3

  	
   

  	
  New Roof Grillage Framing Plan

  	
   

  	
  February 23, 2007

  
	
  S3.0

  	
   

  	
  Sections & Details Sheet One

  	
   

  	
  January 26, 2007

  
	
  S3.1

  	
   

  	
  Sections & Details Sheet Two

  	
   

  	
  January 26, 2007

  
	
  S3.2

  	
   

  	
  Sections & Details Sheet Three

  	
   

  	
  February 23, 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  FA1.0

  	
   

  	
  Fire Alarm Legend, Details, Basement & First
  Floor Plans

  	
   

  	
  January 26, 2007

  
	
  FA1.1

  	
   

  	
  Fire Alarm Typical & Tenth Floor Plans

  	
   

  	
  January 26, 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  FP1.0

  	
   

  	
  Fire Protection Legend, Details Basement & First
  Floor Plans

  	
   

  	
  January 26, 2007

  
	
  FP1.1

  	
   

  	
  Fire Protection Typical & Tenth Floor Plans

  	
   

  	
  January 26, 2007

  

 

 10
 

 

	
  P0.1

  	
   

  	
  Plumbing Legend, Diagrams & Schedules

  	
   

  	
  January 26, 2007

  
	
  P0.2

  	
   

  	
  Plumbing Riser Diagrams

  	
   

  	
  February 23, 2007

  
	
  P1.0

  	
   

  	
  Plumbing Basement Plan

  	
   

  	
  January 26, 2007

  
	
  P1.1

  	
   

  	
  Plumbing First Floor Plan

  	
   

  	
  January 26, 2007

  
	
  P1.2

  	
   

  	
  Plumbing Typical Floors 2nd Thru 9th Plan

  	
   

  	
  February 23, 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  P1.3

  	
   

  	
  Plumbing Tenth Floor Plan

  	
   

  	
  February 23, 2007

  
	
  P1.4

  	
   

  	
  Plumbing Roof Plan

  	
   

  	
  February 23, 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  H0.1

  	
   

  	
  HVAC Legend, Abbreviations & General Notes

  	
   

  	
  January 26, 2007

  
	
  H0.2

  	
   

  	
  HVAC Schedules

  	
   

  	
  February 23, 2007

  
	
  H0.3D

  	
   

  	
  HVAC CHW Piping Schematic Demolition

  	
   

  	
  February 23, 2007

  
	
  H0.3

  	
   

  	
  HVAC CHW & CW Piping Schematics

  	
   

  	
  January 26, 2007

  
	
  H0.4

  	
   

  	
  HVAC HW Piping Schematic

  	
   

  	
  January 26, 2007

  
	
  H0.5D

  	
   

  	
  HVAC Air Riser Diagrams Demolition

  	
   

  	
  January 26, 2007

  
	
  H0.5

  	
   

  	
  HVAC Air Riser Diagram

  	
   

  	
  January 26, 2007

  
	
  H0.6

  	
   

  	
  HVAC Custom Air Handling Units

  	
   

  	
  January 26, 2007

  
	
  H0.7

  	
   

  	
  HVAC Details 1

  	
   

  	
  January 26, 2007

  
	
  H0.8

  	
   

  	
  HVAC Details 2

  	
   

  	
  January 26, 2007

  
	
  H0.9

  	
   

  	
  HVAC Details 3

  	
   

  	
  January 26, 2007

  
	
  H1.0D

  	
   

  	
  HVAC Basement Floor Plan Demolition

  	
   

  	
  January 26, 2007

  
	
  H1.0

  	
   

  	
  HVAC Basement Floor Plan

  	
   

  	
  January 26, 2007

  
	
  H1.1D

  	
   

  	
  HVAC Ground Floor Plan Demolition

  	
   

  	
  January 26, 2007

  
	
  H1.1

  	
   

  	
  HVAC Ground Floor Plan

  	
   

  	
  February 23, 2007

  
	
  H1.2D

  	
   

  	
  HVAC Typical Floor Plan Demolition

  	
   

  	
  January 26, 2007

  
	
  H1.2

  	
   

  	
  HVAC Typical Floor Plan

  	
   

  	
  February 23, 2007

  
	
  H1.3D

  	
   

  	
  HVAC Tenth Floor Plan Demolition

  	
   

  	
  January 26, 2007

  
	
  H1.3

  	
   

  	
  HVAC Tenth Floor Plan

  	
   

  	
  February 23, 2007

  
	
  H1.4D

  	
   

  	
  HVAC Roof Plan Demolition

  	
   

  	
  January 26, 2007

  
	
  H1.4

  	
   

  	
  HVAC Roof Plan

  	
   

  	
  February 23, 2007

  
	
  H2.1

  	
   

  	
  HVAC Part Plans

  	
   

  	
  January 26, 2007

  
	
  H2.2

  	
   

  	
  HVAC 100 Tech Square First Floor Part Plan

  	
   

  	
  January 26, 2007

  
	
  H2.3

  	
   

  	
  HVAC 100 Tech Square Penthouse Part Plan

  	
   

  	
  January 26, 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  E0.1

  	
   

  	
  Electrical Legend

  	
   

  	
  February 23, 2007

  
	
  E1.0

  	
   

  	
  Electrical Basement Power Plan

  	
   

  	
  February 23, 2007

  
	
  E1.1

  	
   

  	
  Electrical First Floor Power Plan

  	
   

  	
  February 23, 2007

  
	
  E1.2

  	
   

  	
  Electrical 2nd thru 9th Floor Demo, New Lighting
  & Power Plan

  	
   

  	
  January 26, 2007

  
	
  E1.3

  	
   

  	
  Electrical 10th Floor Demolition & New Power
  Plans

  	
   

  	
  January 26, 2007

  
	
  E1.4

  	
   

  	
  Electrical Penthouse Demo & New Power Plans

  	
   

  	
  January 26, 2007

  
	
  E2.0

  	
   

  	
  Electrical Basement Demo & New Lighting Plans

  	
   

  	
  February 23, 2007

  
	
  E2.1

  	
   

  	
  Electrical First Floor Demo & New Power Plans

  	
   

  	
  February 23, 2007

  
	
  E2.2

  	
   

  	
  Electrical Building 100 Part Plans

  	
   

  	
  January 26, 2007

  
	
  E3.1

  	
   

  	
  Electrical Riser Diagram

  	
   

  	
  January 26, 2007

  
	
  E3.2

  	
   

  	
  Electrical Schedules

  	
   

  	
  February 23, 2007

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  15300

  	
   

  	
  Fire Protection Specification

  	
   

  	
  January 5, 2007

  
	
  15400

  	
   

  	
  Plumbing Specification

  	
   

  	
  January 5, 2007

  

 

 11
 

 

	
  15500

  	
   

  	
  Heating, Ventilation, and Air Conditioning
  Specification

  	
   

  	
  February 23, 2007

  
	
  16000

  	
   

  	
  Electrical Specification

  	
   

  	
  January 5, 2007

  
	
  16700

  	
   

  	
  Fire Alarm Specification

  	
   

  	
  January 5, 2007

  

 

 12

EXHIBIT D TO LEASE

ACKNOWLEDGMENT OF
COMMENCEMENT DATE

This ACKNOWLEDGMENT OF
COMMENCEMENT DATE is made as of this           
day of                           ,
2007, between ARE-TECH SQUARE, LLC, a Delaware limited liability company (“Landlord”), and SIRTRIS PHARMACEUTICALS, a Delaware
corporation  (“Tenant”),
and is attached to and made a part of the Lease dated as of March         ,
2007 (the “Lease”), by and between
Landlord and Tenant.  Any initially
capitalized terms used but not defined herein shall have the meanings given
them in the Lease.

Landlord and Tenant hereby acknowledge and agree, for
all purposes of the Lease, that the Commencement Date of the Base Term of the
Lease is                         ,
                          
[, the “Rent Commencement Date [for Base Rent] [Operating Expenses] is                                 ,
                    ]
and the expiration date of the Base Term of the Lease shall be midnight on                             ,
                    . 
In case of a conflict between the terms of the Lease and the terms of this
Acknowledgement of Commencement Date, this Acknowledgement of Commencement Date
shall control for all purposes.

IN WITNESS WHEREOF, Landlord and Tenant have executed
this ACKNOWLEDGMENT OF COMMENCEMENT DATE to be effective on the date first
above written.

 

	
   

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SIRTRIS PHARMACEUTICALS, INC.,

  
	
   

  	
   

  	
  a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  LANDLORD

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ARE-TECH SQUARE, LLC, a Delaware limited liability
  company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  ARE-MA REGION NO. 31, LLC, a Delaware limited
  liability

  company, its Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  ALEXANDRIA REAL ESTATE EQUITIES, L.P.,

  
	
   

  	
   

  	
   

  	
   

  	
  a Delaware limited partnership, its Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  ARE-QRS CORP., a Maryland corporation,

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Title:

  
									

 

 1

EXHIBIT E TO LEASE

Rules and Regulations

1.             The sidewalk, entries, and driveways of the Project
shall not be obstructed by Tenant, or any Tenant Party, or used by them for any
purpose other than ingress and egress to and from the Premises.

2.             Tenant shall not place any objects, including antennas,
outdoor furniture, etc., in the parking areas, landscaped areas or other areas
outside of its Premises, or on the roof of the Project.

3.             Except for animals assisting the disabled, no animals
shall be allowed in the offices, halls, or corridors in the Project.

4.             Tenant shall not disturb the occupants of the Project or
adjoining buildings by the use of any radio or musical instrument or by the
making of loud or improper noises.

5.             If Tenant desires telegraphic, telephonic or other
electric connections in the Premises, Landlord or its agent will direct the
electrician as to where and how the wires may be introduced; and, without such
direction, no boring or cutting of wires will be permitted.  Any such installation or connection shall be
made at Tenant’s expense.

6.             Tenant shall not install or operate any steam or gas
engine or boiler, or other mechanical apparatus in the Premises, except as
specifically approved in the Lease.  The
use of oil, gas or inflammable liquids for heating, lighting or any other
purpose is expressly prohibited. 
Explosives or other articles deemed extra hazardous shall not be brought
into the Project.

7.             Parking any type of recreational vehicles is
specifically prohibited on or about the Project.  Except for the overnight parking of operative
vehicles, no vehicle of any type shall be stored in the parking areas at any
time.  In the event that a vehicle is
disabled, it shall be removed within 48 hours. 
There shall be no “For Sale” or other advertising signs on or about any
parked vehicle.  All vehicles shall be
parked in the designated parking areas in conformity with all signs and other
markings.  All parking will be open
parking, and no reserved parking, numbering or lettering of individual spaces
will be permitted except as specified by Landlord.

8.             Tenant shall maintain the Premises free from rodents,
insects and other pests.

9.             Landlord reserves the right to exclude or expel from the
Project any person who, in the judgment of Landlord, is intoxicated or under
the influence of liquor or drugs or who shall in any manner do any act in
violation of the Rules and Regulations of the Project.

10.           Tenant shall not cause any
unnecessary labor by reason of Tenant’s carelessness or indifference in the preservation
of good order and cleanliness.  Landlord
shall not be responsible to Tenant for any loss of property on the Premises,
however occurring, or for any damage done to the effects of Tenant by the
janitors or any other employee or person.

11.           Tenant shall give Landlord prompt
notice of any defects in the water, lawn sprinkler, sewage, gas pipes,
electrical lights and fixtures, heating apparatus, or any other service
equipment affecting the Premises.

12.           Tenant shall not permit storage
outside the Premises, including without limitation, outside storage of trucks
and other vehicles, or dumping of waste or refuse or permit any harmful
materials to be placed in any drainage system or sanitary system in or about
the Premises.

 1
 

13.           All moveable trash receptacles
provided by the trash disposal firm for the Premises must be kept in the trash
enclosure areas, if any, provided for that purpose.

14.           No auction, public or private, will
be permitted on the Premises or the Project.

15.           No awnings shall be placed over the
windows in the Premises except with the prior written consent of Landlord.

16.           The Premises shall not be used for
lodging, sleeping or cooking or for any immoral or illegal purposes or for any
purpose other than that specified in the Lease. 
No gaming devices shall be operated in the Premises.

17.           Tenant shall ascertain from Landlord
the maximum amount of electrical current which can safely be used in the
Premises, taking into account the capacity of the electrical wiring in the
Project and the Premises and the needs of other tenants, and shall not use more
than such safe capacity.  Landlord’s
consent to the installation of electric equipment shall not relieve Tenant from
the obligation not to use more electricity than such safe capacity.

18.           Tenant assumes full responsibility
for protecting the Premises from theft, robbery and pilferage.

19.           Tenant shall not install or operate
on the Premises any machinery or mechanical devices of a nature not directly
related to Tenant’s ordinary use of the Premises and shall keep all such
machinery free of vibration, noise and air waves which may be transmitted
beyond the Premises.

 2

EXHIBIT F TO LEASE

TENANT’S PERSONAL
PROPERTY

None.

 1

EXHIBIT G TO LEASE

Replacement Sections
2(a), 2(b), 2(c) and 3(a) 

of Work Letter for Available Space (per Section 39(b) of Lease)

2.             Tenant Improvements.

(a)           Tenant Improvements Defined.  As used herein, “Tenant Improvements” shall
mean all improvements to the Project of a fixed and permanent nature as shown
on the TI Construction Drawings, as defined in Section 2(c) below.  Other than Landlord’s Work (as defined in
Section 3(a) below, Landlord shall not have any obligation whatsoever with
respect to the finishing of the Available Space for Tenant’s use and occupancy.

(b)           Tenant’s Space Plans.  Tenant shall deliver to Landlord and the TI
Architect schematic drawings and outline specifications (the “TI Design
Drawings”) detailing Tenant’s requirements for the Tenant Improvements within
10 business days of the date on which Tenant Exercises its Expansion
Right.  Not more than 10 days thereafter,
Landlord shall deliver to Tenant the written objections, questions or comments
of Landlord and the TI Architect with regard to the TI Design Drawings.  Tenant shall cause the TI Design Drawings to
be revised to address such written comments and shall resubmit said drawings to
Landlord for approval within 10 days thereafter.  Such process shall continue until Landlord has
approved the TI Design Drawings.

(c)           Working
Drawings.  Not later than 10
business days following the approval of the TI Design Drawings, Landlord shall
cause the TI Architect to prepare and deliver to Tenant for review and comment
construction plans, specifications and drawings for the Tenant Improvements (“TI
Construction Drawings”), which TI Construction Drawings shall be prepared
substantially in accordance with the TI Design Drawings.  Tenant shall be solely responsible for
ensuring that the TI Construction Drawings reflect Tenant’s requirements for
the Tenant Improvements.  Tenant shall
deliver its written comments on the TI Construction Drawings to Landlord not
later than 10 business days after Tenant’s receipt of the same; provided,
however, that Tenant may not disapprove any matter that is consistent with the
TI Design Drawings without submitting a Change Request.  Landlord and the TI Architect shall consider
all such comments in good faith and shall, within 10 business days after
receipt, notify Tenant how Landlord proposes to respond to such comments, but
Tenant’s review rights pursuant to the foregoing sentence shall not delay the
design or construction schedule for the Tenant Improvements.  Any disputes in connection with such comments
shall be resolved in accordance with Section 2(d) hereof.  Provided that the design reflected in the TI
Construction Drawings is consistent with the TI Design Drawings, Tenant shall
approve the TI Construction Drawings submitted by Landlord, unless Tenant
submits a Change Request.  Once approved
by Tenant, subject to the provisions of Section 4 below, Landlord shall not
materially modify the TI Construction Drawings except as may be reasonably
required in connection with the issuance of the TI Permit (as defined in Section
3(b) below).

(d)           Approval
and Completion.  Upon any
dispute regarding the design of the Tenant Improvements, which is not settled
within 10 business days after notice of such dispute is delivered by one party
to the other, Tenant may make the final decision regarding the design of the
Tenant Improvements, provided (i) Tenant acts reasonably and such final
decision is either consistent with or a compromise between Landlord’s and
Tenant’s positions with respect to such dispute, (ii) that all costs and
expenses resulting from any such decision by Tenant shall be payable out of the
TI Fund (as defined in Section 5(d) below), and (iii) Tenant’s decision will
not affect the base Building, structural components of the Building or any
Building systems.  Any changes to the TI
Construction Drawings following Landlord’s and Tenant’s approval of same
requested by Tenant shall be processed as provided in Section 4 hereof.

3.             Performance of
Landlord’s Work.

(a)           Definition
of Landlord’s Work.  As used
herein, “Landlord’s Work” shall mean the work of constructing the Tenant
Improvements.

 1

EXHIBIT H TO LEASE

ROOFTOP EQUIPMENT
LOCATION

200 Technology Square

Roof Plan

 1

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