Document:

rcel-ex1030_535.htm

 

Exhibit 10.30

 

 

 

FOURTH AMENDMENT TO LEASE

 

 

THIS FOURTH AMENDMENT TO LEASE AGREEMENT (the “Amendment”) is entered into as of the 25th day of August, 2021, by and between RIF III – Avenue Stanford, LLC, a California limited liability company (“Landlord”) and Avita Medical Americas, LLC, a Delaware limited liability company (“Tenant”).

 

W I T N E S S E T H:

 

WHEREAS, Landlord and Tenant have entered into a Lease dated October 3, 2016, as amended by that certain First Amendment to Lease, dated as of December 14, 2016, as amended by that certain Second Amendment to Lease, dated as of December 4, 2017 and as amended by that certain Third Amendment to Lease, dated as of November 17, 2020 (the “Third Amendment”) (as amended, the “Existing Lease”) pursuant to which Landlord leased to Tenant certain premises consisting of approximately 17,465 square feet located at 28159 Avenue Stanford, Suites 200 and 220, Valencia, California, 91355 (the “Premises”), such Existing Lease, as heretofore modified, being herein referred to as the “Lease”.

 

WHEREAS, the current Expiration Date of the Lease is July 31, 2022. Landlord and Tenant desire to modify the Lease to, among other things, extend the term of the Lease, on the terms and conditions set forth below.

 

A G R E E M E N T:

 

NOW THEREFORE, in consideration of the Premises and the mutual covenants hereinafter contained, the parties hereto agree as follows:

 

	
 
	
1.
	
The Lease Term is extended such that the Lease shall terminate on July 31, 2023 (the “Fourth Extension Term”). The monthly Base Rent during the Fourth Extension Term shall be as follows:
	
 

 

 

	
Period
	
Monthly Base Rent

	
August 1, 2022 – July 31, 2023
	
$35,204.38

 

 

	
 
	
2.
	
Except as otherwise expressly provided herein, all defined terms used in this Amendment shall have the same respective meanings as are provided for such defined terms in the Lease. Tenant shall accept the Premises in its “as is” condition, without any representations or warranties, and shall pay all increases in Common Area Operating Expenses, over the Base Year as provided in the Lease during the Fourth Extension Term.
	
 

 

	
 
	
3.
	
Notwithstanding anything to the contrary in the Lease, Tenant, at its expense, shall maintain during the Lease Term, at Tenant’s sole cost and expense, commercial general liability insurance (and, if necessary, commercial excess liability insurance) applicable to the Premises and its appurtenances providing a minimum combined single limit of not less than $2,000,000 per occurrence with an annual aggregate of not less than $2,000,000; and if Tenant stores property of others for a fee, Tenant shall maintain warehouse operator’s legal liability insurance for the full value of the property of such customers as determined by the warehouse contract between Tenant and its customer.
	
 

 

 

 

 

 

 

	
 
	
4.
	
In addition to Tenant’s insurance requirements under Section 8 of the Existing Lease, Tenant shall be required to maintain the following insurance: (i) employers liability insurance of at least $1,000,000; and
	
 

(ii) business automobile liability insurance (and, if necessary, commercial excess liability insurance) having a combined single limit of not less than $2,000,000 per accident insuring Tenant against liability arising out of the ownership maintenance or use of any owned, hired or non-owned automobiles

 

	
 
	
5.
	
Section 8.3(a) of the Existing Lease shall be amended such that Landlord may, but is not obligated to, maintain such other insurance and additional coverages as it may deem necessary, including, but not limited to earthquake insurance. All such insurance costs shall be included as part of the Common Area Operating Expenses charged to Tenant.
	
 

 

	
 
	
6.
	
As of the date hereof, Addendum Two of the Third Amendment is hereby deleted in its entirety and of no further force and effect. Tenant shall have no further options to extend the term of the Lease.
	
 

 

	
 
	
7.
	
Except as otherwise provided in this Lease, Tenant shall, at Tenant's sole expense and regardless of the cost therefor or the time remaining on the Lease Term, fully, diligently and in a timely manner, materially comply with all Legal Requirements, which shall include without limitation all South Coast Air Quality Management District rules and more specifically SCAQMD Rule 2305. Under SCAQMD Rule 2305, Tenant is and shall be deemed to be the "warehouse operator" of the Premises and shall be solely responsible for compliance with such rule and any and all fees assessed thereunder.
	
 

 

	
 
	
8.
	
Tenant warrants, represents and certifies to Landlord that as of the date of this Amendment, (i) Landlord is not in default under the Lease, (ii) Tenant does not have any defenses or offsets to payment of rent and performance of its obligations under the Lease as and when the same become due; and (iii) Tenant has no remaining renewal, extension or termination options or rights of first offer or first refusal.
	
 

 

	
 
	
9.
	
Tenant represents and warrants that it has dealt with no broker, agent or other person in connection with this transaction and that no broker, agent or other person brought about this transaction, other than CBRE, Inc., and Tenant agrees to indemnify and hold Landlord harmless from and against any claims by any other broker, agent or other person claiming a commission or other form of compensation by virtue of having dealt with Tenant with regard to this leasing transaction.
	
 

 

	
 
	
10.
	
Insofar as the specific terms and provisions of this Amendment purport to amend or modify or are in conflict with the specific terms, provisions and exhibits of the Lease, the terms and provisions of this Amendment shall govern and control; in all other respects, the terms, provisions and exhibits of the Lease shall remain unmodified and in full force and effect.
	
 

 

	
 
	
11.
	
Landlord and Tenant hereby agree that (i) this Amendment is incorporated into and made a part of the Lease, (ii) any and all references to the Lease hereinafter shall include this Amendment, and (iii) the Lease and all terms, conditions and provisions of the Lease are in full force and effect as of the date hereof, except as expressly modified and amended hereinabove.
	
 

 

	
 
	
12.
	
Tenant agrees and understands that Landlord shall have the right (provided that the exercise of Landlord’s rights does not materially and adversely affect Tenant’s use and occupancy of the Premises or subject Tenant to additional costs), without Tenant’s consent, to place a solar electric generating system on the roof of the Building or enter into a lease for the roof of the Building whereby such roof tenant shall have the right to install a solar electric generating system on the roof of the Building, and Landlord and its agents shall have access to the roof to accomplish the foregoing.
	
 

 

	
 
	
13.
	
For so long as Landlord maintains the contract for electricity at the Project, Landlord shall have access to the Energy Data (defined below) and shall collect Energy Data on Tenant’s behalf annually. In the 
	
 

 

 

 

 

 

 

	
 
		
event Landlord is not the intermediary for electricity at the Project and Tenant obtains its own electricity contract, annually Tenant, at Tenant’s sole cost and expense, shall deliver to Landlord data regarding the electricity consumed in the operation of the Premises (the “Energy Data”) for purposes of regulatory compliance, manual and automated benchmarking, energy management, building environmental performance labeling and other related purposes, including but not limited, to the Environmental Protection Agency’s Energy Star rating system and other energy benchmarking systems. Tenant agrees to update such benchmarking information for Tenant’s operations conducted during the year. Landlord shall use commercially reasonable efforts to utilize automated data transmittal services offered by utility companies to access the Energy Data. Additionally, Tenant shall be responsible, at Tenant’s sole cost and expense, upon Landlord’s request, to provide any required information necessary for Landlord to comply with South Coast Air Quality Management District rules related to Tenant’s use of the Premises.
	
 

 

	
 
	
14.
	
Each party hereto, and their respective successors and assigns shall be authorized to rely upon the signatures of all of the parties hereto on this Amendment which are delivered by facsimile or PDF as constituting a duly authorized, irrevocable, actual, current delivery of this Amendment with original ink signatures of each person and entity. Further, the parties hereto expressly consent and agree that this Amendment may be electronically signed and that electronic signatures appearing on this Amendment shall be treated, for purposes of validity, enforceability and admissibility, the same as hand-written signatures. This Amendment may be executed in counterparts, each of which shall be deemed an original part and all of which together shall constitute a single agreement.
	
 

 

 

 

 

[Signature Page Follows]

 

 

 

 

 

 

 

 

 

IN WITNESS WHEREOF, the parties hereto have signed this Amendment as of the day and year first above written.

 

TENANT:

 

AVITA MEDICAL AMERICAS, LLC,

a Delaware limited liability company

 

	
By:
	

	
 

	
 
	
 
	
 

	
Name:
	
Michael Holder
	
 

	
 
	
 
	

	
Title:
	
CFO

	
 
	
 

	
Date:
	
Aug 27, 2021 | 5:49 PM PDT

 

 

LANDLORD:

 

RIF III – AVENUE STANFORD, LLC,

                  a California limited liability company

 

By: Rexford Industrial Realty, L.P., 

                  a Maryland limited partnership, 

                  Its Managing Member

 

By: Rexford Industrial Realty, Inc., 

                  a Maryland corporation,

                  Its General Partner

 

 

	
By:
	

	
 

	
 
	
 
	
 

	
Name Printed:
	
Howard Schwimmer
	
 

	
 
	
 
	
 

	
Title:
	
Co-Chief Executive Officer
	
 

	
 
	
 
	
 

	
Date:
	
Aug 31, 2021 | 9:12 AM PDT​

​
Exhibit 10.8
​
Certain identified information has been excluded from the exhibit because it is both (i) not material and (ii) is the type of information that the registrant treats as private or confidential. Triple asterisks denote omissions.
​
FIRST AMENDMENT TO AGREEMENTS
​
This First Amendment to Agreements (the “First Amendment”) is made effective as of the date of the last signature below (the “First Amendment Effective Date”) by and between ImmunoGen, Inc., a Massachusetts corporation (“ImmunoGen”), with its principal place of business being 830 Winter Street, Waltham, Massachusetts 02451, USA, and Eli Lilly and Company, an Indiana corporation (“Lilly”), with its principal place of business at Lilly Corporate Center, Indianapolis, Indiana 46285. ImmunoGen and Lilly are sometimes hereinafter referred to individually as a “Party” and collectively as the “Parties.”
​
WHEREAS, ImmunoGen and Lilly are parties to that certain Multi-Target Agreement made effective as of December 19, 2011 (the “Multi-Target Agreement”) and that certain License Agreement made effective as of August 26, 2013 (the “8/26/2013 License Agreement”); and
​
WHEREAS, the Parties desire to amend the Multi-Target Agreement and the 8/26/2013 License Agreement in the manner set forth in this First Amendment; and
​
WHEREAS, the capitalized terms used in this First Amendment and not otherwise defined herein shall have the meanings ascribed to them in the Multi-Target Agreement and the 8/26/2013 License Agreement, as applicable;
​
NOW, THEREFORE, in consideration of the foregoing premises and mutual covenants herein contained, the Parties agree and covenant as follows.
​
Multi-Target Agreement
​
I. Section 3.3 of the Multi-Target Agreement is hereby deleted in its entirety and replaced with the following:
3.3 Number of Exclusive Licenses; Upfront Fees. Anything contained in this Agreement to the contrary notwithstanding, Lilly may take Exclusive Licenses to up to a total of three (3) Reserve Option Targets during the Term. Except as set forth below, each Exclusive License shall provide for an upfront fee, payable by Lilly to ImmunoGen within [***] days following the Effective Date of such Exclusive License. From and after the First Amendment Effective Date, (a) no upfront fee is due for one (1) of the two (2) remaining Exclusive Licenses available hereunder (the “No Upfront Fee License”), and (b) the upfront fee for the other of the two (2) remaining Exclusive Licenses available hereunder shall be Two Million United States Dollars ($2,000,000). Lilly shall have the right to designate in its sole discretion which Exclusive License taken after the First Amendment Effective Date shall be the No Upfront Fee License. For purposes of clarity, Lilly’s designation of the first Exclusive License taken after the First Amendment Effective Date as the No Upfront Fee License shall not create any obligation on the part of Lilly to take the remaining Exclusive License hereunder. Subject to Section 3.4 hereof, if an Exclusive License is terminated at any time for any reason, such terminated Exclusive License shall nevertheless continue to be counted against the aggregate number of Exclusive Licenses available to Lilly under this Section 3.3.
​
II. Section 5.1 of the Multi-Target Agreement is hereby amended by adding the following new paragraph at the end thereof:
​
In connection with Lilly’s exercise of its right to extend the term of this Agreement beyond the Initial Term or the First Extended Term in accordance with Sections 8.1(b) and 8.1(c) hereof, Lilly agrees in each case to pay ImmunoGen a Term extension fee (the “Extension Fee”) in the amount of [***] ($[***]) payable in accordance with Section 5.3 hereof at any time prior to the expiration of the Initial Term or the First Extended Term, as the case may be, which Extension Fees shall be non-refundable and non-creditable.
​
III. Section 8.1 of the Multi-Target Agreement is hereby deleted in its entirety and replaced with the following:
​
8.1 Term.

​

​

(a) Initial Term. The term of this Agreement shall commence on the Effective Date and shall continue until the third (3rd) anniversary of the Effective Date, subject to earlier termination in accordance with Section 8.2 hereof (the “Initial Term”).
​
(b) First Extended Term. If this Agreement has not been terminated in accordance with Section 8.2 hereof (other than termination by Lilly in accordance with Section 8.2(b) hereof) on or before the expiration of the Initial Term, then Lilly may extend the term of this Agreement from the end of the Initial Term until June 19, 2015, subject to earlier termination in accordance with Section 8.2 hereof (the “First Extended Term”), by providing written notice and by paying the Extension Fee in accordance with Section 5.1 hereof at any time prior to the expiration of the Initial Term.
​
(c) Second Extended Term. If this Agreement has not been terminated in accordance with Section 8.2 hereof (other than termination by Lilly in accordance with Section 8.2(b) hereof) on or before the expiration of the First Extended Term, then Lilly may extend the term of this Agreement from the end of the First Extended Term until December 19, 2015, subject to earlier termination in accordance with Section 8.2 hereof (the “Second Extended Term”), by providing written notice and by paying another Extension Fee in accordance with Section 5.1 hereof at any time prior to the expiration of the First Extended Term. The Initial Term, together with the First Extended Term and the Second Extended Term, if applicable, shall be referred to herein collectively as the “Term.” The foregoing notwithstanding, the Term shall automatically expire once Lilly has taken the maximum number of Exclusive Licenses available to Lilly pursuant to Section 3.3 hereof.
​
IV. Footnotes 2, 3 and 4 to the form of License Agreement attached to the Multi-Target Agreement as Schedule A are hereby deleted in their entirety and replaced with the following:
​
(2) Insert Zero U.S. Dollars ($0.00) in the No Upfront Fee License taken under the Multi-Target Agreement after the First Amendment Effective Date. Insert Two Million U.S. Dollars ($2,000,000) in any other Exclusive License taken under the Multi-Target Date after the First Amendment Effective Date.
​
(3) Insert $[***] in the No Upfront Fee License taken under the Multi-Target Agreement after the First Amendment Effective Date. Insert $[***] in any other Exclusive License taken under the Multi-Target Agreement after the First Amendment Effective Date.
​
(4) Insert $[***] in the No Upfront Fee License taken under the Multi-Target Agreement after the First Amendment Effective Date. Insert $[***] in any other Exclusive License taken under the Multi-Target Agreement after the First Amendment Effective Date.
​
8/26/2013 License Agreement
​
V. Sections 5.1 and 5.2 of the 8/26/2013 License Agreement are hereby deleted in their entirety and replaced with the following:
​
5.1 Upfront Fee. In consideration of the grant of the license described in Section 2.1 hereof and the mutual covenants contained in the First Amendment, Lilly hereby agrees to pay ImmunoGen an upfront fee (the “Upfront Fee”) in the amount of Two Million United States Dollars ($2,000,000) payable in accordance with Section 5.6(d) hereof within [***] days after the First Amendment Effective Date, which Upfront Fee shall be non-refundable and non-creditable.
​
5.2 Milestone Payments for Licensed Products. In further consideration of the grant of the license by ImmunoGen hereunder, and subject to the other terms of this Agreement, Lilly will make the following payments to ImmunoGen in accordance with Section 5.6(d) hereof within [***] days after Lilly’s receipt of an invoice from ImmunoGen reflecting the first occurrence of each of the milestones set forth below:
​
	Clinical Milestones
		Milestone Payment
	
				
	(a) Initiation of first Phase I Clinical Study for a Licensed Product
		$
	5.0 Million
	
				
	[***]
		$
	[***]
	
				
	[***]
		$
	[***]
	
				
	Regulatory Milestones
			
				
	[***]
		$
	[***]
	
				
	[***]
		$
	[***]
	
				

​

​

	Sales Milestones
			
				
	[***]
		$
	[***]
	
				
	[***]
		$
	[***]
	
				
	[***]
		$
	[***]
	
				
	[***]
		$
	[***]
	

​
If the milestone described in [***] above occurs before milestone described in [***] above, the milestone payment payable upon the occurrence of the milestone described in [***] above shall be increased from $[***] to $[***], and no milestone payment will be payable with respect to any [***] of the [***]. It is hereby acknowledged and agreed that any milestone payment shall be [***], with respect to the [***] of the [***], regardless of how many times [***] is [***] and [***]. All milestone payments shall be nonrefundable and noncreditable. Lilly shall notify ImmunoGen of the achievement of each milestone hereunder as provided in Section 3.5(b) hereof.
​
Miscellaneous
​
VI. The Parties hereby confirm and agree that each of the Multi-Target Agreement and the 8/26/2013 License Agreement, as amended by this First Amendment, remains in full force and effect. References in the Multi-Target Agreement to “Agreement” mean the Multi-Target Agreement as amended by this First Amendment, and references in the 8/26/2013 License Agreement to “Agreement” mean the 8/26/2013 License Agreement as amended by this First Amendment.
​
[Remainder of page intentionally left blank.]

​

​

IN WITNESS WHEREOF, the Parties have caused this First Amendment to Agreements to be executed by their duly authorized representatives.
​
	IMMUNOGEN, INC.
	ELI LILLY AND COMPANY

		
		
	By:
	/s/ Peter Williams
		By:
	/s/ Jan M. Lundberg

					
	Name:
	Peter Williams
		Name:
	Jan M. Lundberg, PhD

					
					Executive Vice President, Science &

	Title:
	Vice President
		Title:
	Technology and President, LRL

					
	Date:
	12/9/2013
		Date:
	12/4/2013

​

​

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