Document:

Exhibit 10.8

 

 

Basic Terms

 

	Client:	AmpliPhi
    Bioscience Corporation	Suite:	Office
    Suites PLUS near Innsbrook
	 	Attn.:
    Phil Young	 	Attn.:
    Doug Rose
	 	800
    E. Leigh Street	 	4870
    Sadler Road
	 	Suite
    54	 	Suite
    300
	 	Richmond,
    VA 23219	 	Richmond,
    VA 23060
	Telephone
    number:	(800) 985-3730	Telephone number:	(804) 205-5000
	E-mail
    address:	pjy@ampliphibio.com	E-mail address:	cdrose@officesuitesplus.com

 

	Primary
    Billing Contact:	 	 	 
	(if different)	 	 	 
	 	Additional
    Portal	 	 
	Secondary
    Billing Contact:	Contact
    (optional)	 	 
	(Optional)		Meeting Room only
    access	 ̈
	 	Check
    only one:	 	 
	 		Meeting
    Room and billing access	 ̈

 

	Term:	Start
    Date: March
    1, 2013	End
    Date:        	February 28, 2014
	 	 	 	 
	Notice
    Date:	December
    31, 2013	 	 
	 	 	 	 
	Office
    Number:	348,
    350	 	 
	Maximum
    occupants:	4	 	 

 

	Monthly Fees:	 	Professional Office

    Package Value	 	 	Breakdown of Recurring Monthly Fees	 
	Package:	 	 	 	 	Period	 	 	Discount 	 	 	Monthly
    Fees *	 
	2	 	Professional
    office	 	$	2,397.00	 	 	03/01/2013	 	 	 to	 	 	 	 02/28/2014	 	 	$	(322.00	)	 	$	2,075.00	 
	 	 	Estimated
    tax	 	 	To
                                                                                                                                                                                                         Be
                                                                                                                                                                                                         Billed	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Total	 	$	2,397.00	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Services:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2	 	Furniture
    package(s)	 	 	Included	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2	 	Telephone
    answering	 	 	Included	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2	 	High-speed
    Internet access	 	 	Included	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	16	 	Hours
    meeting room usage	 	 	Included	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	1	 	6
    mbps shared pool bandwidth	 	 	Included	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Due
    upon execution of Agreement:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Initial
    Programming and Installation	 	$	429.00	 	Included
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Discount:	 	$	 429.00	 	 	 	 	 	 	 	 	 
	Services
    Retainer	 	$	2,075.00	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	First
    Month’s Fee	 	$	2,075.00	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Tax
    on first Month's Fee	 	 	To
                                                                                                                                                                                                         Be
                                                                                                                                                                                                         Billed	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total	 	 	 	$	4,579.00	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

	 	KW	 	Feb 18, 2013 
	 	KW Client Initial	 	Date

 

* Excludes
sales, use and/or other applicable tax.

 

    	 

    	 

    

  

License Agreement

 

1.
Use of Office.

 

(A) You are granted
a license to use the Suite and that particular Office(s) assigned in the Basic Terms, if any, pursuant to the terms of this license
agreement (the “Agreement”), one person per Office, unless otherwise set forth in the Basic Terms. If no Office is assigned
in the Basic Terms, you may have the use of an office or meeting room, if available, at the then prevailing rate. You agree to
use the premises for general office purposes and no other purpose, to only operate approved machinery or equipment within the Office
or otherwise in the building, and to comply with all laws, rules, regulations and ordinances.

 

(B) We reserve the
right to relocate you to another space within the same Suite and to substitute such other space for your Office, provided such
other space is substantially similar to your Office and you incur no increase in Monthly Office Fees or any moving cost or expense
as a result of the relocation.

 

(C) You agree to abide
by such rules and regulations governing the use of your Office and the Suite as may now exist or may later be adopted by us. It
is your sole responsibility to ensure that your employees, guests and invitees abide by all such rules.

 

(D) Upon any termination
of this Agreement, you agree to vacate the Office and cease all use of the Suite. Furthermore, we will not be responsible for providing
any further service to you. On or before the Notice Date, you agree to give us notice of your intent to terminate this Agreement
or to renew it. Any renewal will only be upon such terms or conditions as we may agree in writing. In the event you fail to provide
us with such notice, this Agreement will automatically renew for a Term equal in time to the original Term of and upon the same
terms and conditions as this Agreement: provided, the Monthly Fees will be the then applicable Monthly Fees for your Office and
services, and the Monthly Fees may be higher than those previously applicable. In the event you have been assigned an Office and
notify us that you intend to vacate your Office and fail to do so on the End Date, the terms of this Agreement and the license
granted to you will continue on a month-to-month basis at the then applicable Monthly Fees for your Office (based on a month-to-month
term) and services, and the Monthly Fees may be higher than those previously applicable, and you will be liable to us for any damages
resulting from your failure to vacate the Office.

 

2. Services.

 

(A) You acknowledge
and agree that it is your sole responsibility to review any work performed by our personnel and we will have no liability for the
work performed by our personnel.

 

(B) You will not offer
to any party outside your own company, whether or not located in the Suite or elsewhere in the building, any of the services that
we provide our clients from time to time.

 

(C) You agree not to
install or utilize any telecommunications equipment or wiring, other than the equipment and wiring provided by us. You understand
the violation of this paragraph may result in damage to our equipment and/or wiring and if such damage occurs, you are solely responsible
for any and all charges to repair or replace it. All programming and/or installation required to initially setup your Office, as
well as any subsequent changes, additions, deletions or other modifications will be subject to the then current programming and/or
installation charges, respectively, and will be due at such time service is performed. You acknowledge that all telephone or other
telecommunication numbers and addresses are our proprietary property, and further understand that yellow page or other similar
forms of advertising such numbers or addresses is your sole responsibility and all charges associated with such advertising are
to be billed directly to you.

 

3. Fees Payable.

 

(A) Upon execution
of this Agreement, you will pay all initial programming and installation fees and the Services Retainer, in the amounts indicated
in the Basic Terms. In addition, you will pay all other fees and taxes as indicated in the Basic Terms. The Services Retainer
will be held as security for your performance under this Agreement. You agree that the Services Retainer need not be kept separate
and apart from our other funds and no interest will be paid to you.

 

(B) You agree to pay
the Monthly Fees in the amount indicated in the Basic Terms or as otherwise due and payable on or before fifteen (15) days from
the date invoiced to you. In addition to any sums due. you agree to pay monthly late charges equal to five percent (5.0%) of any
sums due, or such lower maximum charge allowable under applicable law, that have not been paid to us on or before such date due
and payable, with or without written notice from us.

 

(C) Recurring Monthly
Fees are payable in advance. Fees payable for such other services that may be reasonably requested by you from time to time will
be payable by you as set forth in the fee schedule applicable at such time services are performed or. if not set forth in a fee
schedule, as determined by us.

 

(D) You agree that
the Services Retainer will not be used by you as payment for Monthly Fees. In the event you default in the performance of any of
the terms of this Agreement, we may immediately and without prior notice, use, apply or retain the whole, or any part, of the Services
Retainer for the payment of Monthly Fees, any service fee or any other payment due, or for payment of any other sum that we may
spend by reason of your default. If, upon termination of this Agreement, you have fully and faithfully complied with all the terms
and provisions of this Agreement, remitted all amounts due and payable, and surrendered all keys, access cards, building passes
and all our other property provided to you, the Services Retainer or any remaining balance, will be returned to you within 45 days;
provided, however, you agree to pay for repainting and cleaning the carpet in each Office you used for less than twelve (12) months
at a cost not to exceed the Services Retainer.

 

4. Utilities. Electric
power will be furnished for approved machinery or equipment only. We will use our reasonable efforts to provide heating and air-conditioning
at temperatures and times provided by the building owner that will be reasonable and comfortable during normal business hours.

 

5. Damage and Insurance.

 

(A)You will not
damage, deface or alter the Office, furniture, furnishings, walls, ceilings, floors, or make or suffer to be made any waste, obstruction
or unlawful, improper or offensive use of the Office or the common area facilities. You will not cause damage to any part of the
building or our property or disturb the quiet enjoyment of any licensee or occupant of the building. Upon the termination of this
Agreement, the Office assigned to you, if any, will be in as good condition as when you first occupied it, normal wear and tear
excepted and we may apply the Services Retainer to any damage to the Office. We retain the right to enter your Office to inspect
it, to make repairs and alterations as we reasonably deem necessary and the cost of any repair resulting from an act or omission
by you or your employees, guests and invitees will be reimbursed to us by you upon demand. We retain the right to show your Office
to prospective clients, lenders and purchasers provided that we use reasonable efforts to not disrupt your business.

 

(B)
You assume all risks of loss with respect to your personal property and the personal property of your agents, employees, contractors
and invitees, within or about the Suite. You must maintain insurance coverage to cover the risks set forth in this paragraph and
paragraph 6(B).

 

(C) You agree to waive
any and all acts of recovery against us. or our directors, licensors, officers, agents, servants and employees, for loss of, or
damage to your property or the property of others that is under your control to the extent of such loss or damages covered or required
to be covered by any insurance policy.

 

(D) If the Suite is
made unusable, in whole or in part, by fire or other casualty, we may, at our option terminate this Agreement upon notice to you,
effective upon such casualty, or may elect to repair or restore the Suite, without expense to you, unless due to your negligence,
within ninety (90) days or within such longer period of time as may be required because of events beyond our control. If repaired
or restored, this Agreement will not terminate, but the Monthly Fees will be abated on a prorated basis for the period of time
that the Office is unusable or services not provided.

 

6. Liability and Indemnifications.

 

(A) NEITHER OUR
COMPANY NOR ANY OF OUR OFFICERS, DIRECTORS, EMPLOYEES, SHAREHOLDERS, PARTNERS, AFFILIATES, AGENTS OR REPRESENTATIVES WILL BE
LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE, OR EXEMPLARY DAMAGES ARISING OUT OF OUR
FAILURE TO PROVIDE USE OF THE OFFICE, TO PROVIDE ANY UTILITY, TO FURNISH ANY SERVICES, OR ANY ERROR OR OMISSION OR ANY DELAY
OR ANY INTERRUPTION WITH RESPECT THERETO. ANY INJURY TO PERSON OR DAMAGE TO YOUR PROPERTY OR PROPERTY OF YOUR EMPLOYEE’S, GUESTS OR INVITEES, ALL OF WHICH ARE EXPRESSLY ASSUMED AND WAIVED BY YOU.

 

(B) YOU AGREE TO
INDEMNIFY, DEFEND AND HOLD HARMLESS OUR COMPANY AND OUR OFFICERS, DIRECTORS, EMPLOYEES, SHAREHOLDERS, PARTNERS, AGENTS AND
REPRESENTATIVES FROM AND AGAINST ANY LIABILITY TO PARTIES ARISING OUT OF YOUR USE AND OCCUPANCY OF THE OFFICE OR ANY ACT OR
OMISSION OF YOU OR YOUR OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, REPRESENTATIVES, CONTRACTORS, CUSTOMERS OR INVITEES UNLESS
CAUSED BY OUR GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

 

7. Default.

 

(A) You will be deemed
to be in default under this Agreement if: (i) you default in the payment of the Monthly Fees or other sums when due hereunder,
regardless of whether or not we provide written notice of such default; (ii) you default in the prompt and full performance of
any other provision of this Agreement and any such default continues for more than five (5) business days after we provide written
notice of such default to you; (iii) there is a material adverse change in your financial condition from the date of this Agreement
as determined in our sole discretion; or (iv) you are in default under any other agreement between you and us.

 

(B) If you are
in default, we have the option to pursue any one or more of the following remedies without any additional notice:

 

(i) we may immediately
terminate this Agreement and may enter your Office, if any, and take and hold possession of the contents in the Office (and we
are hereby granted a lien thereon), terminate all services provided and change any locks or access codes without releasing you,
in whole or in part from any of your obligations under this Agreement. In the event of such termination, we may, at our option,
declare the entire amount of the Monthly Fees that would become due and payable during the remainder of the Term, to be due and
payable immediately, and you agree to promptly pay us the entire amount. Further, any of your personal property which remains in
the Office or the Suite after the termination of this Agreement may, in our sole discretion, be deemed to have been abandoned by
you and we may either hold possession thereof as our property or may dispose of such personal property, without any accountability
or liability and at your expense, in any manner (including having the same stored at your risk and expense).

 

(ii) pursue any other
remedy now or later available to us. Our exercise of any right or remedy will not prevent us from exercising any other right or
remedy.

 

(C) You agree to pay
all costs and expenses including reasonable attorneys’ fees, expended or incurred by us in connection with the enforcement
of this Agreement, the collection of any sum due hereunder, any action for declaratory relief in any way related to this Agreement
or the protection or preservation of any of our rights under this Agreement.

 

8. Covenant Not
to Solicit Employees. You understand that our employees are an indispensable part of our business operation. Accordingly, you
will not, without our prior written approval, for your purposes or on behalf of any party, employ, take away or solicit or attempt
to employ any employee with whom you had contact during your Term or for a period of one (1) year thereafter. In the event of a
breach of your obligation in this paragraph, you agree to pay liquidated damages equal to each such employee's annual salary for
each employee with respect to whom such breach occurs, it being mutually agreed that the actual damage that would be sustained
by us as the result of any such breach would be extremely difficult to fix and that the liquidated damage amount is fair and reasonable.

 

9. Miscellaneous.

 

(A) This is the only
Agreement between us for the Office and all amendments to this Agreement will be in writing, signed by both parties. The invalidity
or unenforceability of any provision of this Agreement will not affect the rest of the Agreement.

 

(B) All waivers must
be in writing and signed by the waiving party. Our failure to enforce any provision of this Agreement or our acceptance of fees
will not be a waiver and will not prevent us from enforcing any provision of this Agreement in the future. No receipt of money
by us will be deemed to waive any of your defaults.

 

(C) The laws of the
state in which the Suite is located will govern this Agreement.

 

(D) You represent that
all parties signing this Agreement on your behalf are authorized to execute this Agreement, and you agree that the obligations
of the parties signing this Agreement (including any guarantor) are to be joint and several.

 

(E) Neither you nor
anyone claiming by, through or under you will assign this Agreement or permit the use of any portion, of the Suite by any individual
or entity other than you, unless approved by us in our sole discretion. In the event of any such permitted assignment or use, you
will not be relieved any of your obligations under this Agreement. Any assignment not approved by us will be void.

 

(F) You specifically
agree to maintain and protect all access codes, cards and/or keys provided by us in a confidential manner and to not provide these
to anyone else. Furthermore, you agree to notify us promptly if you have any reason to believe that a third party has improperly
obtained any of your access codes, cards and/or keys.

 

(G) All notices provided
under this Agreement will be in writing. Notices will be deemed to be duly given if mailed by registered or certified mail, postage
prepaid, addressed to the addresses provided in the Basic Terms.

 

(H) THIS AGREEMENT
IS NOT INTENDED TO CREATE A LEASE OR ANY OTHER INTEREST IN REAL PROPERTY IN FAVOR OF YOU. BUT MERELY GRANTS YOU A LICENSE TO USE
THE SUITE AND YOUR OFFICE FOR THE PURPOSES IDENTIFIED IN THIS AGREEMENT AND IS REVOCABLE BY US IN ACCORDANCE WITH THE TERMS OF
THIS AGREEMENT. This Agreement is subject and subordinate to any underlying lease or contract or mortgage now or later encumbering
the building or the premises comprising the Office or the Suite. This Agreement will terminate simultaneously with the termination
of the Suite operation for any reason. You are not a party to nor do you have any rights under any of the foregoing.

 

(I) You acknowledge
that it will be your responsibility to notify all parties of termination of the use of your Suite address, assigned telephone number
and facsimile numbers and we will have no liability therefore.

 

(J) We may assign this
Agreement and/or any fees hereunder without your consent and you agree to attorn to any such assignee.

 

(K) Terms not otherwise
defined in this Agreement will have the meaning set forth in the Basic Terms attached hereto and incorporated herein by reference.

 

(L)
Terms used in the singular also include the plural, and vice versa. References to either gender are to include all genders.

 

CLIENT

 

	By:	/s/  Kelley Wendt	 	 
	 	Kelley
    Wendt (Feb 18, 2013)	 	Print Name
	 	Authorized signature	 	 
	 	 	 	 
	Its:	CFO	 	Feb 18, 2013
	 	Title	 	Date
	 	 	 	
	OFFICE
    SUITES PLUS PROPERTIES. INC.	 	 
	 	 	 	 
	By:	/s/ Doug Rose 	 	Print Name
	 	Doug Rose	 	 
	 	 	 	 
	Its:	Suite
    Manager	 	Feb 18, 2013
	 	Title	 	Date

 

PERSONAL
GUARANTEE: For value received, the undersigned unconditionally and irrevocably guarantees the prompt payment and performance
of all obligations of Client in this Agreement. This guaranty is a guaranty of payment. The undersigned will not be released if
any term of this Agreement is waived or modified.

 

	By:	 	 
	 	Authorized Signature	 
	 	 	 
	 	CFO	Feb 18, 2013
	 	Print Name	DateExhibit 10.9

 

VIRGINIA BIOTECHNOLOGY CENTER

VIRGINIA BIOTECHNOLOGY RESEARCH PARK

 

AGREEMENT OF LEASE

 

THIS AGREEMENT
OF LEASE, dated as of the 23rd day of February, 2011 by and between VIRGINIA BIOTECHNOLOGY RESEARCH PARTNERSHIP
AUTHORITY, a political subdivision of the Commonwealth of Virginia created by an act of the Virginia General Assembly, the
purpose of which is to develop and operate the Virginia Biotechnology Research Park for the purpose of expanding, developing and
commercializing knowledge pertaining to scientific and technological research among public and
private entities including, but not limited to, knowledge in the area of the biotechnology and biomedical sciences (the "Authority"),
and AMPLIPHI BIOSCIENCES CORPORATION, a Washington Corporation, (the "Tenant"), recites and provides:

 

RECITALS:

 

The Virginia
Biotechnology Center ("the Center"), is part of the Phase I Complex of the Virginia Biotechnology
Research Park, which is being developed as a biotechnology and biomedical research park (the "Research Park"). The Center
is located at 800 East Leigh Street in the City of Richmond (the "Center").

 

The Authority
wishes to lease to the Tenant for its exclusive use and occupancy one office suite on the 2nd level of the Center and known as
Room #57 as depicted on Exhibit A attached hereto and referred to herein as the "Premises."

 

AGREEMENT OF LEASE:

 

For and in consideration
of the mutual covenants and conditions set forth herein, the Authority and the Tenant agree as follows:

 

1.          Leased
Premises.

 

(a)          The
Authority hereby leases the Premises to the Tenant, and the Tenant hereby rents the Premises from the Authority for the term (as
defined herein).

 

(b)          The
Tenant shall also have the right to use certain common facilities and services of the Center at no cost, and the option to purchase
additional services, all of which are specified in Exhibit B attached hereto and referred
to herein as "Common Facilities and Services."

 

(c)          For
purposes of patent and copyright ownership, the Premises and the Center are to be considered facilities of the Virginia Biotechnology
Research Partnership Authority and not the facilities of any Virginia university or institution.

 

    	1

    	 

    

 

2.          Term.
The term of this Lease (the "Term") shall be for a period of one (1) year, beginning
on March 1, 2011 (the “Commencement Date”) and ending February 29, 2012 (the “Termination Date.”).
In addition, the Authority grants to the Tenant two one-year renewal options, with each renewal option dependent upon the Tenant
giving the Authority 60 days prior notice of the exercise of such renewal and dependent upon approval by the Authority.

 

3.          Rent.

 

(a)          The
Tenant shall pay all rent and other charges to be paid by the Tenant hereunder to the Authority at the office of the Authority
in Richmond, Virginia, or to such other individual, firm or corporation and at such other place as may be designated by the Authority.

 

(b)          The
Tenant shall pay a monthly rent (the “Monthly Rent") without notice, demand or setoff during the term hereof based
upon an initial total annual rent of $17,972.75. No reduction or increase in rent shall be available
for non-material discrepancies in actual square footage. During the first Lease Year the Monthly
Rent shall be $1,497.73 per month. Thereafter, the Monthly rent shall be increased annually as
of the date the first payment of each Lease Year is due beginning with the second Lease Year by an amount equal to 3% of the last
Monthly Rent payable during the preceding Lease year.

 

(c)          The
Monthly Rent is to be payable in advance on the first day of each calendar month during the term hereof without notice or demand
and without setoff and it is to be received at the Authority’s offices within five (5) days after the first day of each rental
month. If the Monthly Rent is not received in the Authority’s office within five (5) days after the first day of each rental
month, there shall be imposed upon the Tenant a late charge equal to 5% of the monthly rental
amount and the total outstanding balance will be assessed an interest rate equivalent to 12% per annum. If the Commencement Date
is not the first day of a calendar month, the Tenant shall pay on the first day of the first
calendar month following the Commencement Date a proportionate amount of the monthly Rent for the period of time from the Commencement
Date to the date on which such first monthly payment is due.

 

(d)          All
amounts and charges in addition to the Monthly Rent required to be paid by the Tenant in accordance with the terms hereof shall
be deemed to be additional rent (the "Additional Rent"). Such amounts or charges, if not paid at the time provided in this
Lease, shall be collectible as Additional Rent with the next installment of the rent due and payable hereunder, provided, however,
that nothing herein contained shall be deemed to suspend or delay the time for any payment to be made by the Tenant hereunder or
to limit any other remedy of the Authority.

 

4.          Space
“As Is”.    The tenant shall take occupancy of the Premises in “as
is” condition.

 

5.          Use
of Premises..   The Tenant shall use the Premises for biotechnology and biomedical research & development purposes
or advanced technology initiatives in information technology, computers, telecommunications, microelectronics, chemical, pharmaceutical
or biotechnology as described in Exhibit C . Tenant shall not use the Premises or permit
the Premises to be used for any other purpose without the prior written consent of the Authority, and such consent shall
not be unreasonably withheld. The Tenant shall comply with all applicable laws and regulations in connection with its use
and occupancy of the Premises.

 

    	2

    	 

    

 

6.          Security
Deposit.       Upon execution of this Lease, the Tenant shall
deposit with the Authority cash in the amount of $1,497.73. Such deposit shall be held by the Authority without interest, for the
entire term of this Lease, and until all of the Tenant’s obligations under this Lease have been paid in full, as security
for the performance by the Tenant of all of its obligations under this Lease. If at any time during the term of this Lease any
rent or other charge to be paid by the Tenant is not paid when due, or the Tenant fails to perform any of its obligations under
this Lease, the Authority may, at its option, apply any part of such deposit to the payment of any such overdue rent or other charge
or to the reimbursement of the Authority for any loss or damage sustained as a result of the Tenant's failure to perform its obligations.
If such deposit, or any part thereof, is applied by the Authority as provided herein, upon written demand by the Authority, the
Tenant shall remit to the Authority forthwith a sufficient amount in cash to restore such deposit to the original amount thereof.
When all the Tenant’s obligations hereunder have been paid in full, the Authority shall return to the Tenant such deposit
or so much thereof as he held by the Authority for the Tenant. The Authority shall have the right to transfer the funds deposited
hereunder by the Tenant to any purchaser of the Authority’s interest in the Leased Premises, and upon any such transfer of
such funds the Authority shall be discharged from any further liability with respect hereto.

 

7.          Common
Areas.    All areas and common facilities furnished by the Authority inside or outside
the Center for the general use, in common, of tenants or occupants of the Center and their employees and invitees shall at all
times be subject to the exclusive control and management of the Authority.

 

8.          Services
and Utilities.     (a) The following services will be supplied to the Tenant at the expense of Authority during the
term hereof:

 

		(i)	Electricity.

 

		(ii)	Heating and air conditioning in season Monday through Friday from 7:30 a.m. to 5:30 p.m., except
on the following holidays: Christmas, New Year's Day, Thanksgiving, July 4th, Memorial Day and Labor Day.

 

		(iii)	Cleaning services for the Premises, common areas and the rest rooms of the Building, Monday through
Friday of each week, except on City holidays.

 

		(iv)	Hot and cold water and lavatory supplies; additionally, hot and cold water are to be supplied to
the Premises.

 

		(v)	Maintenance & electric lighting for all common areas.

  

    	3

    	 

    

 

(b)         If any law, regulation,
executive or administrative order requires that the Authority or Tenant reduce or maintain
at a certain level the consumption of electricity for the Premises or the Center which affects the heating, air conditioning, lighting,
or hours of operation of the Premises or the Center, the Authority and the Tenant shall each adhere to and abide by such laws,
regulations, or executive or administrative orders.

 

(c)          Failure
by the Authority to furnish the services provided above or any cessation thereof resulting from causes beyond the control of the
Authority shall not render the Authority liable for damages to either person or property, nor be construed as an eviction of the
Tenant, nor work an abatement of rent, nor relieve the Tenant from fulfillment of any covenant or agreement hereof.

 

9.            Real
Property Taxes.   The Authority shall pay all real property taxes,
including special assessments, if any, which may be levied or assessed against the Premises.

 

10.         Tenant’s
Equipment, Fixtures and Alterations.    (a) The Tenant will not install or allow to be installed
in the Premises any electrically operated equipment or other machinery other than general office,
laboratory and research equipment or any equipment which will necessitate any changes, replacements or additions to, or changes
in the use of, the water system, heating system, plumbing system, air-conditioning system, or electrical system in the Premises
without first obtaining the prior written consent of the Authority, which consent shall not be unreasonably withheld. The Tenant
shall be solely responsible for any and all costs associated with the installation and maintenance of such equipment. The Tenant
shall also be solely responsible for any and all costs associated with high speed telecommunications access and usage within the
leased premises. The Tenant acknowledges and accepts a “building standard” for telecommunications and data (Internet)
service provided by the landlord on the leased premises. The tenant further acknowledges that they shall be responsible for any
and all costs associated with the possession of these services by any third party supplier or carrier, including the cost of any
equipment upgrades or changes to the “building standard” provided by the landlord in the leased premises. These changes
may, at the requirement of the supplier or carrier, also require connection, access or other fees in addition to equipment costs
and/or monthly service fees to be paid by the tenant for such service. The parties acknowledge and agree that Tenant shall have
the right to upgrade electrical and telephone service into the Premises at its own expense, provided it receives the prior written
consent of the Authority.

 

(b)          The
Tenant shall not make or cause to be made any interior or exterior modifications or additions to the Premises without the prior
written consent of the Authority. The Tenant shall present to the Authority plans and specifications for such work at the time
such consent is sought Upon approval of such plans and specifications, the Tenant shall employ a contractor acceptable to the Authority
to make such improvements. Such improvements shall comply with the requirements of all applicable laws.

 

(c)          The
Tenant shall pay all contractors and materialmen promptly to minimize the possibility of any lien being asserted against the Premises.
If any such lien is asserted, the Tenant shall take such action as may be necessary to have such lien released or bonded within
thirty (30) days after the Tenant receives notice thereof.

 

    	4

    	 

    

 

(d)         Upon
the expiration of the Term, the Tenant shall remove all trade fixtures and furnishings installed by the Tenant and not a part of
the real estate or of the furnishings provided by the Authority, and Tenant shall surrender the
Premises as provided hereinafter. The Tenant shall repair all damage to the Premises caused by
the installation or removal of any fixtures or other furnishings. All trade fixtures and furnishings which the Tenant has not removed
prior to the termination or expiration of the term hereof shall become the property of the Authority.

 

11.         Insurance.
    (a)    During the Term, the Tenant shall, at its expense, insure the Premises and all activities conducted by the Tenant in the Center
under a general liability insurance policy with a combined property damage, bodily injury and death liability limit of at least
$1,000,000. Such policy of insurance shall name the Authority and any person or entity having
an interest in the Center and designated by the Authority as additional insured parties and shall contain
a clause that the insurer shall not cancel or change the terms
of such insurance policy without first giving the Authority and such other person or entity ten (10) days' prior written notice
thereof. Such insurance policy shall be issued by an insurance company rated A or higher by Best and copies thereof or the issuer’s
certificate of insurance shall be delivered by the Tenant to the Authority and to all other additional insured parties.

 

(b)          The
Tenant shall not do or allow to be done in or about the Premises anything which is prohibited
under any policy of insurance carried by the Authority insuring against loss or damage by fire
or other hazards. The Tenant agrees that if its use or occupancy of the Premises causes the premium for such fire or other insurance
carried by the Authority to be higher than the minimum premium applicable for such insurance,
the Tenant shall pay the difference promptly upon demand therefor by the Authority.

 

(c)          The
Authority agrees to maintain, at its expense, an appropriate fire, extended coverage and malicious mischief insurance policy on
the Center. The Tenant shall be furnished with copies of all such insurance policies or the issuers' certificate of insurance.
The Tenant shall, at its expense, insure the Tenant's furniture, furnishings, equipment, improvements and trade fixtures located
in the Premises, and cause its subtenants to insure their furniture, furnishings, equipment,
improvements and trade fixtures located in the Premises, under a standard fire and extended coverage insurance policy providing
adequate coverage to replace such property. The Tenant acknowledges that the Authority shall not be responsible for carrying insurance
of any kind on the Tenant's furniture, furnishings, equipment, improvements or trade fixtures and that the Authority shall not
be obligated to repair or replace the same in the event of a fire or other casualty affecting the Premises.

 

12.         Building
Repairs and Alterations.    The Authority reserves the right at any time to make repairs and reasonable alterations
to the Center, other than those repairs necessitated by the negligence or willful misconduct of the Tenant or its subtenants, and
to enter the Premises to take all necessary action to make such repairs and alterations. Such entry shall not be deemed to constitute
an eviction of the Tenant or to give the Tenant any

 

right to abatement of rent for loss or interruption
of the business of the Tenant; provided, however, the Authority shall use its best efforts to minimize any interference with the
business of the Tenant. The Authority shall indemnify and hold harmless Tenant from and against any actual cost, expense, loss
or liability incurred as a result of such repairs or alterations.

 

    	5

    	 

    

 

13.         Surrender.
    At the expiration or termination of the term of this Lease, the Tenant shall quit and surrender
the Premises and all Authority-supplied furnishings and equipment in good order and condition, ordinary wear and use and casualty
excepted. The Tenant shall surrender to the Authority all keys and electronic identification cards or passes used in connection
with the Premises.

 

14.         Tenant's
Property, etc.   (a) All personal property belonging to the Tenant, located in or about the Premises shall
be there at the sole risk of the Tenant; and neither the Authority nor Authority's agent shall
be liable for the theft or misappropriation thereof, nor for any damage or injury thereto, nor for damage or injury to
the Tenant or any of its officers, agents or employees, or to other persons or to any property caused by fire, explosion, water,
gas, electricity, leaks from the roof or other portions of the Building, the bursting or leaking of pipes, plumbing, electrical
wiring and equipment and fixtures of any kind, or by any act or neglect of other Tenants or occupants of the Building, or due
to any other cause whatsoever.

 

(b)          The
Tenant agrees to notify the Authority immediately of any hazard, fire or accident in the Premises or in the Center and of any defects
therein or in any of the fixtures or equipment located therein.

 

(c)          The
Tenant shall be responsible for and shall pay when due all municipal, county or state taxes assessed during the term of this Lease
against any leasehold interest or personal property of any kind, owned by or placed in the Premises by the Tenant.

 

15.         Damage
or Destruction.    If the Premises are damaged by fire,
the elements or by accident, but are not thereby rendered untenantable, the Authority shall, at its expense, cause such damage
to be repaired and the rent shall not be abated. If by reason of such occurrence, the Premises are rendered untenantable in part
only, the Authority shall, at its expense, cause such damage to be repaired, and the rent shall be abated proportionately to the
portion of the Premises rendered untenantable until such damage is repaired. If the Premises are rendered wholly untenantable by
reason of such occurrence, the Authority shall, at its expense, cause such damage to be repaired, and the rent shall be abated
in full until the Premises have been restored and rendered tenantable, unless within 60 days after such occurrence, the Authority
gives the Tenant written notice that it has elected not to cause such damage to be repaired, in which event this Lease and the
tenancy hereby created shall terminate as of the date of such occurrence, and the rent shall be adjusted as of such date. If the
Authority elects to repair and repairs are not completed within 90 days, Tenant may terminate this Lease.

 

16.         Legal
and Environmental Compliance.

 

(a)      During
the Term including all renewals or extensions thereto, the Tenant agrees to comply with all applicable environmental laws (the
"Environmental Laws").

 

(b)     The
Authority represents to the Tenant that (i) it has not received any notice of any alleged violation at the Premises of any Environmental
Laws; and (ii) to the best of the Authority's knowledge, information and belief with respect to the Premises and the Center, there
are no violations of any Environmental Laws.

 

    	6

    	 

    

 

17.         Default.
(a) The following events shall constitute a default hereunder:

 

(i)    The
Tenant fails to pay any rent, security deposit, additional rent or other charge to be paid by the Tenant hereunder within five
days after the due date therefor.

 

(ii)   The
Tenant fails to perform any of its other obligations under this Lease for more than thirty (30)
days after written notice of such default given by the Authority to the Tenant unless Tenant shall provide evidence of commencing
corrective measures during such period and shall then pursue them to completion within a reasonable period of time.

 

Upon the occurrence
of a default, in addition to all remedies the Authority may have at law or in equity, and the right to be reimbursed by the Tenant
for all reasonable attorneys' fees and court costs incurred by the Authority as a result of such default, the Authority shall have
the immediate right to re-enter the Premises and remove all persons and property therefrom and
store such property in a public warehouse or elsewhere at the cost of, and for the account of, the Tenant. The Authority shall
have the right to take such action without service of notice or resort to legal process and without being deemed guilty of trespass
or becoming liable for any loss or damage which may be occasioned thereby. If the Authority elects
to re-enter or to take possession of the Premises, the Authority may, at its option, either terminate this Lease, or without terminating
this Lease, re-lease the Premises or any part thereof, for the benefit of the Tenant, for such term or terms (whether shorter or
longer than the term of this Lease) and at such rent or rents and upon such other terms and conditions as the Authority, in its
sole discretion, deems advisable. No re-entry or taking possession of the Premises by the Authority shall be construed as an election
by the Authority to terminate this Lease unless written notice of such intention is given by the Authority to the Tenant or this
Lease is terminated by an order or a decree of a court of competent jurisdiction. Notwithstanding any such reletting without termination,
the Authority may at any time thereafter elect to terminate this Lease for any previous default by the Tenant in the performance
of the terms and conditions of this Lease.

 

(b)          No
re-entry or taking possession of the Premises by the Authority or any other action taken by the Authority, as a result of any default
of the Tenant, shall relieve the Tenant of any of its liabilities and obligations under this Lease whether or not the Premises
are relet.

 

18.         Access.   
Upon reasonable notice, except in the case of emergency, the Authority shall have the right to enter the Premises at all reasonable
times to examine the Premises and, during the last year of the term, to show such property to prospective tenants, mortgagees
or purchasers; provided, however, that in connection with showing the property the Authority shall use all reasonable efforts
to minimize any interference with the business of the Tenant.

 

19.         Quiet
Enjoyment.   The Authority covenants that the Tenant shall have quiet and peaceful possession and enjoyment of the
Premises for the Term.

 

    	7

    	 

    

 

20.         Special
Conditions.   The special terms and conditions set forth on Exhibit D (Environmental
Health and Safety Guidelines and Practices) hereto are hereby incorporated into this Lease by reference.

 

21.         Assignment
and Subletting.   The Tenant may not assign this Lease or sublet the Premises without
written permission from the Authority; provided, however, that the Authority’s permission shall not be required with respect
to an assignment or sublease to an assignee or sublessee that is acquiring all or substantially all of the assets of Tenant or
acquiring Control of Tenant, or that as a result of a merger will either be Controlled by or be under common Control with Tenant,
where such assignee or sublessee will continue to operate Tenant’s business from the Premises. “Control” for
the purposes of the foregoing shall mean direct or indirect ownership of 50% or more of the equity interests in any business entity.

 

22.         Successors.  
Subject to the restrictions on assignment and subletting set forth above, this Lease and the terms hereof shall be binding upon
and inure to the benefit of the Authority and its respective successors and assigns.

 

23.         Authority
of Parties: Title: Zoning.   The Authority and the Tenant each warrant to the other that the person or persons executing
this Lease on behalf of the Authority or the Tenant, as the case may be, has authority to do so and fully obligate the Authority
or the Tenant, as the case may be, to all terms and provisions of this Lease. If the Authority or the Tenant is a corporation,
each warrants that it has legal authority to operate and is authorized to do business in the state in which the Premises are situated.

 

24.         Non-Waiver.
   The failure of the Authority or the Tenant to insist upon the strict performance of any of the terms hereof shall not constitute
or be construed as a waiver or relinquishment for the future of any such terms, and such terms shall continue in full force and
effect. The payment of rent by the Tenant or the receipt of rent by the Authority, with knowledge
of the breach of any term herein contained, shall not be deemed a waiver of such breach.

 

25.         Notices.
   All notices from the Tenant to the Authority required or permitted by any provision of this Lease shall be in writing and effective
when delivered or upon second day after being sent by registered or certified mail and addressed as follows or upon receipt when
delivered by overnight courier or telecopy:

 

Virginia Biotechnology Research Partnership Authority

800 East Leigh Street

Richmond, Virginia 23219

 

    	8

    	 

    

 

All notices from the Authority
to the Tenant so required or permitted shall be in writing and effective when delivered or upon the second day after being sent
by registered or certified mail and addressed as follows:

 

AmpliPhi BioSciences Corporation

Lab #57

Virginia Biotechnology Research Park

800 B. Leigh Street

Richmond, VA 23219

 

With a copy to:

Chief Executive Officer

AmpliPhi BioSciences Corporation

Colworth Science Park

Sharnbrook, Bedfordshire, MK44 1LQ

United Kingdom

 

Either party may, at any time,
designate in writing a substitute address for the address set forth above, and thereafter notices shall be directed to such substitute
address.

 

26.         Memorandum.
   Each of the parties agrees that, upon the request of the other, it will execute and deliver in recordable form a memorandum of this
Lease. The party who records such memorandum shall pay the recording cost therefor.

 

27.         Titles.   
The titles and paragraph headings used herein are for purposes of convenience only and shall not be construed to limit or extend
the meaning of any part of this Lease.

 

28.         Applicable
Law.   This Lease shall be governed by and construed in accordance with the laws of the Commonwealth of Virginia.

 

29.         Force
Majeure.    If by reason of acts of God, strikes, lockouts or other industrial disturbances; acts
of public enemies; orders of any kind of the government of the United States or the Commonwealth of Virginia, or any civil or
military authority; insurrections; riots; epidemics; landslides; lightning; earthquakes; fires;
hurricanes; tornadoes; blizzards, or other storms; floods, washouts; droughts; arrests; restraint of government and people; civil
disturbances; explosions; breakage or accident to machinery; partial or entire failure of utilities; or any cause or event not
reasonably within the control of the Landlord, the Landlord is unable in whole or in part to carry out its agreements contained
in this Lease, the Landlord shall not be deemed in Default during the continuance of such inability.

 

29.        Entire
Agreement.      This Lease contains the entire agreement between the Authority and the
Tenant relating to the Premises and supersedes all negotiations, understandings and agreements, written or oral, between the parties.
This Lease shall not be amended or modified, and no waiver of any provision hereof shall be
effective, unless set forth in a written instrument signed by the Authority and the Tenant.

 

    	9

    	 

    

 

WITNESS the following signatures:

 

	 	VIRGINIA BIOTECHNOLOGY RESEARCH 

PARTNERSHIP
AUTHORITY

 

	 	By:	/s/ Robert T. Skunda
	 	 	Robert T. Skunda
	 	 	Executive Director
	 	 	 
	 	Date:	2-25-11	 

 

	 	AMPLIPHI BIOSCIENCES CORPORATION

 

	 	By:	/s/ David J. Poston
	 	 	David J. Poston
	 	 	Vice President, Chief Financial Officer 

Treasurer and Secretary

 

	 	Date:	2-23-11	 

 

    	10

    	 

    

 

EXHIBIT A

 

 

	SECOND FLOOR PLAN (BIOTECH CENTER)

 

    	11

    	 

    

 

EXHIBIT B 

 

SERVICES AND SUPPORT

 

SERVICES WHERE SEPARATE CHARGES
APPLY:

 

VBDC Membership (if applicable)

 

Telecommunications capabilities,
Ethernet access, modem compatibility, telephone service and equipment will be at tenant’s expense.

 

Security swipe cards –
No more than 2 cards for office tenants at no charge; no more than 3 for Biotech Center lab tenants and 5 for Biotech One lab
tenants at no charge. Additional cards are $5 each.

 

OWNER’S RIGHTS

 

The Virginia Biotechnology Research
Partnership and VCU reserve the right to promulgate and amend a list of reasonable rules, regulations, procedures, and schedules
for the use of all common and shared facilities and equipment and to insure fair apportionment of the amenities among the users
and to minimize operating costs exposure to liability.

 

    	12

    	 

    

 

EXHIBIT C

 

Tenant’s Use of Premises

 

TO BE PROVIDED:

 

Description of research
Activity to be undertaken by Tenant, including a list of chemicals and estimated use volume for chemicals on a monthly basis. Also
include an estimate of type and quantity of disposal of hazardous wastes on a monthly basis.

 

Uses include administrative
functions of Tenant as well as research and development of devices and instruments for biomedical applications, including urine
testing and analysis.

 

    	13

    	 

    

 

EXHIBIT D

 

Environmental Health and Safety Guidelines
and Practices

 

Tenants of Virginia Biotechnology
Research Park (VBRP) shall comply with applicable occupational and environmental health regulations, including Occupational safety
and Health Administration (OSHA), Environmental Protection Agency (EPA), Nuclear Regulatory Commission (NRC), Virginia Department
of Environmental Quality (VDEQ), City of Richmond Department of Public Utilities, Department of Wastewater Treatment, and Office
of the State Fire Marshall. Protection of the health and environment of the VBRP community is of utmost concern. Assistance with
compliance is available through the VCU Office of Environmental Health and Safety (OEHS), which maintains copies of applicable
regulations.

 

1.          Use,
Handling, Storage and Disposal of Hazardous Materials and Physical Agents

 

Tenant is responsible for developing
standard operating procedures to safely use, handle, store and dispose of hazardous materials and hazardous physical agents. Procedures
must be written and incorporated into worker training programs.

 

2.          Record
Keeping Requirements

 

Tenant shall
maintain records in accordance with regulatory requirements including: material safety data sheets and complete, accurate
chemical inventories; hazardous materials disposal manifests; worker training records; worker protection programs; and laboratory
inspection records.

 

3.          Worker
Protection and Training

 

Tenant shall provide appropriate
employee training and safety programs. Tenant must maintain Laboratory Safety, Hazard Communication, ALARA, and other requisite
programs.

 

4.          Emergency
Procedures

 

General emergency procedures will
be developed and administered by VBRP. Emergency procedures unique to individual tenants (i.e. spill control) must be developed
by tenant and made available to safety committee. Tenant must post names, addresses, and telephone numbers of individuals to be
contacted in case of after-hours emergencies.

 

VBRP will file emergency procedures
for all tenants with OEHS, as OEHS is the liaison with local emergency authorities.

 

8/14/02

 

    	14

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