Document:

EXHIBIT 10.1

 

SECOND LOAN MODIFICATION AGREEMENT

 

This Second Loan Modification Agreement (this “Loan Modification Agreement”) is entered into as of the
Second Loan Modification Effective Date by and between SILICON
VALLEY BANK, a California corporation, with its principal place of
business at 3003 Tasman Drive, Santa Clara, California 95054 and with a
loan production office located at One Newton Executive Park, Suite 200,
2221 Washington Street, Newton, Massachusetts 02462 (“Bank”)
and (i) SATCON TECHNOLOGY CORPORATION, a
Delaware corporation; SATCON POWER SYSTEMS, INC.,
a Delaware corporation; SATCON APPLIED TECHNOLOGY,
INC., a Delaware corporation; SATCON ELECTRONICS, INC.,
a Delaware corporation, each with offices located at 27 Drydock Avenue, Boston,
Massachusetts 02210; and (ii) SATCON POWER SYSTEMS
CANADA LTD. (the “Canadian Borrower”),
a corporation organized under the laws of the Province of Ontario, Canada with
offices located at 835 Harrington Court, Burlington, Ontario L7N 3P3
(individually and collectively, jointly and severally, “Borrower”).

 

1.             DESCRIPTION
OF EXISTING INDEBTEDNESS AND OBLIGATIONS. Among other indebtedness and
obligations which may be owing by Borrower to Bank, Borrower is indebted to
Bank pursuant to a loan arrangement dated as of February 20, 2008,
evidenced by, among other documents, a certain Loan and Security Agreement
dated as of February 20, 2008, as amended by that certain First Loan
Modification Agreement, dated as of the First Loan Modification Effective Date
(as amended, the “Loan Agreement”).
Capitalized terms used but not otherwise defined herein shall have the same
meaning as in the Loan Agreement.

 

DESCRIPTION
OF COLLATERAL. Repayment of the Obligations is secured by the
Collateral as described in the Loan Agreement and a certain Intellectual
Property Security Agreement dated as of February 20, 2008, as may be
amended from time to time (the “IP Agreement”).

 

2.             Hereinafter,
the Loan Agreement and the IP Agreement, together with all other documents
executed in connection therewith evidencing, securing or otherwise relating to
the Obligations (other than this Loan Modification Agreement) shall be referred
to as the “Existing Loan Documents”.

 

3.             DESCRIPTION
OF CHANGE IN TERMS.

 

A.                                   Modifications
to Loan Agreement.

 

1                                          The
Loan Agreement shall be amended by deleting the following Section 6.9
entitled “Financial Covenants” in its entirety:

 

“              6.9          Financial
Covenants.

 

Borrower shall
maintain at all times, to be tested as of the last day of each month, unless otherwise noted, on a consolidated basis with
respect to Borrower and its Subsidiaries:

 

(a)                                  Liquidity. Borrower’s (A) unrestricted cash on deposit at
Bank plus (B) unused availability pursuant to the Revolving Line under
this Agreement, as determined by Bank with reference to the Availability Amount
set forth herein, of at least $3,000,000.

 

1

 

(b)           Tangible
Net Worth. A Tangible Net Worth of at least (i) from the Effective
Date through March 29, 2008, $17,500,000, and (ii) from May 3,
2008 and as of the end of each fiscal month of Borrower thereafter, $16,500,000.
The Tangible Net Worth requirements set forth herein shall  increase by 50% of quarterly Net
Income and 50% of issuances of equity after the Effective Date.”

 

and inserting in
lieu thereof the following:

 

“              6.9          Financial
Covenants.

 

Borrower shall
maintain at all times, to be certified by the Borrower as of the last day of each
month, unless otherwise noted, on a
consolidated basis with respect to Borrower and its Subsidiaries:

 

(a)           Liquidity.
Borrower’s (A) unrestricted cash on deposit at Bank plus (B) unusedavailability
pursuant to the Revolving Line under this Agreement, as determined by Bank with
reference to the Availability Amount set forth herein, of at least $4,000,000.

 

(b)           Tangible
Net Worth. A Tangible Net Worth, tested as of the last day of each fiscal
quarter, of at least (i) from the Second Loan Modification Effective Date
through March 31, 2009, $12,000,000, and (ii) from June 30,
2009, and as of the end of each fiscal quarter of Borrower thereafter,
$12,500,000. The Tangible Net Worth requirements set forth herein shall  increase by 50%
of quarterly Net Income and 50% of issuances of equity after the Second Loan
Modification Effective Date.”

 

2              The
Loan Agreement shall be amended by inserting the following definitions in the
appropriate alphabetical order in Section 13.1 thereof, entitled “Definitions”:

“              “Second Loan Modification Agreement” means that certain
Second Loan Modification Agreement, dated as of the Second Loan Modification
Effective Date, by and between Borrower and Bank.”

 

“Second Loan Modification Effective Date”
is the date noted on the signature page to the Second Loan Modification
Agreement.”

 

3              The
Compliance Certificate appearing as Exhibit D
to the Loan Agreement is hereby replaced with the Compliance Certificate
attached as Exhibit D hereto.

 

4.             FEES.
Borrower shall pay to Bank a modification fee in the amount of Fifteen Thousand
Dollars ($15,000.00), which fee shall be due and payable and fully earned as of
the date hereof. Borrower shall also reimburse Bank for all legal fees and
expenses incurred by Bank in connection with the Existing Loan Documents and
this amendment thereto.

 

5.             RATIFICATION
OF INTELLECTUAL PROPERTY SECURITY AGREEMENT. Borrower hereby ratifies,
confirms, and reaffirms, all and singular, the terms and conditions of the IP
Agreement and acknowledges, confirms and agrees that the IP Agreement contains
an accurate and complete listing of all Intellectual Property.

 

2

 

6.             RATIFICATION
OF PERFECTION CERTIFICATE. Borrower hereby ratifies, confirms and
reaffirms, all and singular, the terms and disclosures contained in a certain
Perfection Certificate dated as of February 20, 2008 between Borrower and
Bank, and acknowledges, confirms and agrees the disclosures Borrower provided
to Bank in the Perfection Certificate, as amended, has not changed.

 

7.             AUTHORIZATION
TO FILE. Borrower hereby authorizes Bank to file UCC financing statements
without notice to Borrower, with all appropriate jurisdictions, as Bank deems
appropriate, in order to further perfect or protect Bank’s interest in the
Collateral, including a notice that any disposition of the Collateral, by
either the Borrower or any other Person, shall be deemed to violate the rights
of the Bank under the Code.

 

8.             CONSISTENT
CHANGES. The Existing Loan Documents are hereby amended wherever necessary
to reflect the changes described above.

 

9.             RATIFICATION
OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and reaffirms all
terms and conditions of all security or other collateral granted to the Bank,
and confirms that the indebtedness secured thereby includes, without
limitation, the Obligations.

 

10.           NO
DEFENSES OF BORROWER. Borrower hereby acknowledges and agrees that, as of
the date of this Loan Modification Agreement, Borrower has no offsets,
defenses, claims, or counterclaims against Bank with respect to the
Obligations, or otherwise, and that if Borrower now has, or ever did have, any
offsets, defenses, claims, or counterclaims against Bank, whether known or
unknown, at law or in equity, all of them are hereby expressly WAIVED and
Borrower hereby RELEASES Bank from any liability thereunder.

 

11.           CONTINUING
VALIDITY. Borrower understands and agrees that in modifying the existing
Obligations, Bank is relying upon Borrower’s representations, warranties, and
agreements, as set forth in the Existing Loan Documents. Except as expressly
modified pursuant to this Loan Modification Agreement, the terms of the
Existing Loan Documents remain unchanged and in full force and effect. Bank’s
agreement to modifications to the existing Obligations pursuant to this  Loan Modification Agreement in no way shall
obligate Bank to make any future modifications to the Obligations. Nothing in
this Loan Modification Agreement shall constitute a satisfaction of the
Obligations. It is the intention of Bank and Borrower to retain as liable
parties all makers of Existing Loan Documents, unless the party is expressly
released by Bank in writing. No maker will be released by virtue of this Loan
Modification Agreement.

 

12.           COUNTERSIGNATURE.
This Loan Modification Agreement shall become effective only when it shall have
been executed by Borrower and Bank.

 

[The remainder of this page is
intentionally left blank]

 

3

 

IN WITNESS WHEREOF, the parties
hereto have caused this Loan Modification Agreement to be executed as a sealed
instrument under the laws of the Commonwealth of Massachusetts as of the Second
Loan Modification Effective Date.

 

 

BORROWER:

 

	
  SATCON
  TECHNOLOGY CORPORATION

  	
   

  
	
   

  	
   

  
	
  By

  	
  /s/ Charles S. Rhoades

  	
   

  
	
  Name: 

  	
   Charles
  S. Rhoades

  	
   

  
	
  Title: 

  	
   President

  	
   

  
	
   

  	
   

  
	
  SATCON POWER
  SYSTEMS, INC.

  	
   

  
	
   

  	
   

  
	
  By

  	
  /s/ Charles S. Rhoades

  	
   

  
	
  Name: 

  	
   Charles
  S. Rhoades

  	
   

  
	
  Title: 

  	
   President

  	
   

  
	
   

  	
   

  
	
  SATCON
  APPLIED TECHNOLOGY, INC.

  	
   

  
	
   

  	
   

  
	
  By

  	
  /s/ Charles S. Rhoades

  	
   

  
	
  Name: 

  	
   Charles
  S. Rhoades

  	
   

  
	
  Title: 

  	
   President

  	
   

  
	
   

  	
   

  
	
  SATCON
  ELECTRONICS, INC.

  	
   

  
	
   

  	
   

  
	
  By

  	
  /s/ Charles S. Rhoades

  	
   

  
	
  Name: 

  	
   Charles
  S. Rhoades

  	
   

  
	
  Title: 

  	
   President

  	
   

  
	
   

  	
   

  
	
  SATCON POWER
  SYSTEMS CANADA LTD.

  	
   

  
	
   

  	
   

  
	
  By

  	
  /s/ Charles S. Rhoades

  	
   

  
	
  Name: 

  	
   Charles
  S. Rhoades

  	
   

  
	
  Title: 

  	
   President

  	
   

  
	
   

  	
   

  
	
  BANK:

  	
   

  
	
   

  	
   

  
	
  SILICON
  VALLEY BANK

  	
   

  
	
   

  	
   

  
	
  By

  	
  /s/ Philip Silvia

  	
   

  
	
  Name: 

  	
   Philip
  T. Silvia

  	
   

  
	
  Title: 

  	
   Relationship
  Manager

  	
   

  
					

 

Second Loan Modification
Effective Date: September 26, 2008

 

[Satcon –Second Loan Modification Agreement Signature Page]

 

 

EXHIBIT D

 

COMPLIANCE
CERTIFICATE

 

	
  TO:

  	
   

  	
  SILICON VALLEY BANK

  	
   

  	
  Date:               
  

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  FROM:

  	
   

  	
  SATCON TECHNOLOGY CORPORATION, et al.

  	
   

  	
   

  

 

The
undersigned authorized officer of Satcon Technology Corporation and its
Subsidiaries (“Borrower”) certifies that under the terms and conditions of the
Loan and Security Agreement between Borrower and Bank (the “Agreement”), (1) Borrower
is in complete compliance for the period ending                      with
all required covenants except as noted below, (2) there are no Events of
Default, (3) all representations and warranties in the Agreement are true
and correct in all material respects on this date except as noted below;
provided, however, that such materiality qualifier shall not be applicable to
any representations and warranties that already are qualified or modified by
materiality in the text thereof; and provided, further that those
representations and warranties expressly referring to a specific date shall be
true, accurate and complete in all material respects as of such date, (4) Borrower,
and each of its Subsidiaries, has timely filed all required tax returns and
reports, and Borrower has timely paid all foreign, federal, state and local
taxes, assessments, deposits and contributions owed by Borrower except as
otherwise permitted pursuant to the terms of Section 5.9 of the Agreement,
and (5) no Liens have been levied or claims made against Borrower or any
of its Subsidiaries, if any, relating to unpaid employee payroll or benefits of
which Borrower has not previously provided written notification to Bank. Attached
are the required documents supporting the certification. The undersigned
certifies that these are prepared in accordance with generally GAAP
consistently applied from one period to the next except as explained in an
accompanying letter or footnotes. The undersigned acknowledges that no
borrowings may be requested at any time or date of determination that Borrower
is not in compliance with any of the terms of the Agreement, and that
compliance is determined not just at the date this certificate is delivered. Capitalized
terms used but not otherwise defined herein shall have the meanings given them
in the Agreement.

 

Please indicate compliance status by circling
Yes/No under “Complies” column.

 

	
  Reporting Covenant

  	
   

  	
  Required

  	
   

  	
  Complies

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Monthly financial statements with
  Compliance Certificate

  	
   

  	
  Monthly within 30 days

  	
   

  	
  Yes No

  
	
  Annual financial statement (CPA Audited) +
  CC

  	
   

  	
  FYE within 120 days

  	
   

  	
  Yes No

  
	
  10-Q, 10-K and 8-K

  	
   

  	
  Within 5 days after filing with SEC

  	
   

  	
  Yes No

  
	
  A/R & A/P Agings

  	
   

  	
  Monthly within 15 days

  	
   

  	
  Yes No

  
	
  Projections

  	
   

  	
  Annually

  	
   

  	
  Yes No

  

 

The following
Intellectual Property was registered after the Effective Date (if no
registrations, state “None”) 

 

 

	
  Financial Covenant

  	
   

  	
  Required

  	
   

  	
  Actual

  	
   

  	
  Complies

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Maintain on a Monthly Basis:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Minimum Liquidity

  	
   

  	
  $

  	
  4,000,000

  	
   

  	
  $

  	
   

  	
   

  	
  Yes No

  	
   

  
	
  Minimum Tangible Net Worth

  	
   

  	
  $

  	
       

  	
   

  	
  $

  	
      

  	
   

  	
  Yes No

  	
   

  
	
   

  	
   

  	
  *See
  Section 6.9(b)

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

The following financial covenant analyses and
information set forth in Schedule 1 attached hereto are true and accurate as of
the date of this Certificate.

 

The following are the exceptions with respect to the
certification above:  (If no exceptions
exist, state “No exceptions to note.”)

 

	
   

  
	
   

  
	
   

  
	
  SATCON TECHNOLOGY CORPORATION, et al.

  	
   

  	
  BANK USE ONLY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Received by: 

  	
   

  
	
  By:

  	
   

  	
   

  	
  AUTHORIZED
  SIGNER

  
	
  Name:

  	
   

  	
   

  	
  Date:

  	
   

  
	
  Title:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Verified: 

  	
   

  
	
   

  	
   

  	
  AUTHORIZED
  SIGNER

  
	
   

  	
   

  	
  Date:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Compliance Status:           Yes    No

  
										

 

 

Schedule 1 to Compliance
Certificate

 

Financial Covenants of Borrower

 

Dated:                    

 

I.              Liquidity (Section 6.9(a))

 

Required:               $4,000,000 (at
all times)

 

Actual:

 

	
  A.

  	
  Unrestricted
  cash at Bank

  	
   

  	
  $

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  B.

  	
  Availability
  Amount

  	
   

  	
  $

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  C.

  	
  Liquidity
  (line A plus line B)

  	
   

  	
  $

  	
   

  	
   

  
							

 

Is
line C equal to or greater than $4,000,000      ?

 

	
  o No, not
  in compliance

  	
   

  	
  o Yes, in
  compliance

  

 

 

II.            Tangible Net Worth
(Section 6.9(b))

 

Required:               As of the end
of each fiscal quarter from
the Second Loan Modification Effective Date through March 31, 2009,
$12,000,000, and (ii) from June 30, 2009, and as of the end of each
fiscal quarter of Borrower thereafter, $12,500,000. The Tangible Net Worth
requirements set forth herein shall  increase by 50% of quarterly Net
Income and 50% of issuances of equity after the Effective Date.

 

Actual:                   $        

 

	
  A.

  	
  Aggregate
  value of total assets of Borrower

  	
   

  	
  $

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  B.

  	
  Deferred
  Financing Costs

  	
   

  	
  $

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  C.

  	
  Aggregate
  value of goodwill of Borrower

  	
   

  	
  $

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  D.

  	
  Aggregate
  value of intangible assets of Borrower

  	
   

  	
  $

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  E.

  	
  Aggregate
  value of obligations owing to Borrower from officers or other directors

  	
   

  	
  $

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  F.

  	
  Aggregate
  value of any reserves not already deducted from assets

  	
   

  	
  $

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  G.

  	
  Total
  Liabilities

  	
   

  	
  $

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  H.

  	
  Value of
  Line A plus B minus C minus D minus E minus
  F minus G

  	
   

  	
  $

  	
   

  	
   

  

 

Is line H equal to or greater than $             ?

 

	
  o No, not
  in compliance

  	
   

  	
  o Yes, in
  complianceExhibit 10.1

 

TERMINATION OF LEASE

 

This Termination of Lease
(“Agreement”) is made as of August 8, 2008, between Blackmore Signal Hill,
a California limited partnership (“Landlord”), and Genoptix, Inc., a
Delaware corporation (“Tenant”), who agree as follows:

 

RECITALS

 

This Agreement is made
with reference to the following facts and objectives:

 

A.            Landlord and Tenant
entered into a Standard Multi-Tenant Office Lease-Gross dated January 30,
2008 (“Lease”), in which Landlord leased to Tenant and Tenant leased from
Landlord, certain premises consisting of approximately 12,472 rentable square
feet (“Premises”) located at 1555 Faraday Avenue, in the City of Carlsbad,
County of San Diego, State of California, which Lease has a term expiring on January 31,
2010. Initially capitalized terms that are used but not otherwise defined
herein shall have the meanings given to them in the Lease.

 

B.            Tenant has entered
into a certain Standard Multi-Tenant Office Lease-Gross dated April 14,
2008 (“Aston Lease”) with an affiliate of Landlord, Allen Joseph Blackmore,
Trustee of the Blackmore Family Trust, Restated 1995 (“Landlord Affiliate”). Pursuant
to paragraph 70 of the Aston Lease, Landlord Affiliate is required to cause the
Lease to be terminated on the terms provided therein.

 

C.            Landlord and Tenant
wish to terminate the Lease so that Tenant can vacate the Premises on the
Termination Date, and so that Landlord and Tenant can be released and
discharged from further performance of the Lease provisions.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing Recitals, the mutual
covenants hereafter set forth, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

 

1.             Termination Date.   The
date on which the Lease shall terminate shall be the date (“Termination Date”)
that Tenant vacates the Premises and leaves it in the condition specified in Section 7.4(c) of
the Lease, which is anticipated to be approximately August 9, 2008. Tenant
shall provide Landlord with not less than three (3) business days advance
written notice of Tenant’s selected date for vacating the Premises.

 

2.             Termination of
Lease.   Subject to all of the terms and conditions of this
Agreement, the Lease is hereby terminated as to all of the Premises effective
as of 5:30 p.m. (San Diego, California time) on the Termination Date. On
or before the Termination Date, Tenant shall vacate the Premises and return it
to Landlord in the condition specified in Section 7.4(c) of the Lease
for surrender of the Premises. Each of the parties acknowledges and agrees that
(i) in reliance upon that certain letter dated July 14, 2008 from The
Blackmore Company to Tenant, Tenant has paid the sum of $29,309.00 in Base Rent
with respect to the Premises for August 2008 under the Lease, with the sum
of $14,654.50 paid to Landlord and the sum of $14,654.50 paid to Landlord
Affiliate, (ii) Tenant shall 

 

 

have no
further obligation to pay Base Rent or other charges under the Lease to
Landlord, and (iii) Tenant shall not be required to pay any further
charges to Landlord Affiliate for occupancy of the Relocation Space (as defined
in the Aston Lease) during August 2008. Notwithstanding any provision to
the contrary in the Lease, commencing as of September 1, 2008, Tenant
shall pay Base Rent to Landlord Affiliate at the rate of $29,309.00 per month,
and Tenant shall pay such sum monthly thereafter until the Commencement Date
(as defined in the Aston Lease) under the Aston Lease, when such Base Rent
payment obligations under the Lease shall terminate.

 

3.             Compensation to
Landlord.   Tenant shall pay Base Rent until the
Commencement Date under the Aston Lease as provided above. The release in
paragraph 4 shall not be effective to release Tenant until it has vacated the
Premises, returned the Premises to the required condition and paid all amounts
due hereunder to Landlord as of the Termination Date.

 

4.             Release of
Liability.  Conditioned on the performance by the parties of the
provisions of this Agreement, on the Termination Date, all agreements,
covenants or obligations of the parties hereto under or in any way arising from
the Lease from and after the Termination Date shall be of no further force or
effect whatsoever, except (i) as provided in the Lease as surviving
termination or expiration of the Lease, including, without limitation, the
provisions of Article 8 of the Lease with respect to occurrences prior to
the Termination Date or (ii) as constituting a condition to any vacation
of the Premises by Tenant which shall survive the termination of the Lease. This
Agreement shall otherwise fully and finally settle all demands, charges,
claims, accounts, or causes of action of any nature, including, without
limitation, both known and unknown claims and causes of action that arose out
of or in connection with the Lease. The release of liability contained in this
Agreement shall not preclude a party from exercising any discovery rights it
has against the other party in connection with any civil litigation or
arbitration proceedings involving a third party. Each of Landlord and Tenant
expressly waives the provisions of California Civil Code 1542 pertaining to the
Lease, the Premises and the Building, which provides:

 

“A general release does not extend to claims which the creditor does
not know or suspect to exist in his favor at the time of executing the release,
which if known by him must have materially affected his settlement with the
debtor.”

 

/s/
[ILLEGIBLE]  TENANT’S INITIALS      /s/
[ILLEGIBLE]  LANDLORD’S INITIALS

 

5.             Security Deposit.    Landlord
currently holds a security deposit of $29,309.00. No later than sixty (60) days
after Tenant returns the Premises to Landlord in the required condition,
Landlord shall reconcile any costs of restoring the Premises to the required
condition following Tenant’s return of the Premises to Landlord. Within a
reasonable period of time thereafter, Landlord shall provide Tenant with either
(i) a refund of any amounts remaining under the security deposit after
such reconciliation, or (ii) a statement indicating that Tenant owes
additional amounts under the Lease for operating expenses or repairs and Tenant
shall pay such statement in full within ten (10) business days of receipt
of such statement.

 

6.             Representations of
Parties.  Each party represents that, except as stated herein, it
has not made any assignment, sublease, transfer, conveyance, or other
disposition of the Lease, or interest in the Lease, or any claim, demand,
obligation, liability, action, or cause of action arising from the Lease.

 

 

7.             Voluntary
Agreement.   The parties have read this Agreement and the
mutual releases contained in it, and upon having the opportunity to seek the
advice of and consult with counsel, they have freely and voluntarily entered
into this Agreement.

 

8.             Successors.   This
Agreement shall be binding on and inure to the benefit of the parties and their
successors.

 

9.             Further Assurances.   The
parties hereto shall perform any further acts and execute and deliver any
documents that may be reasonably necessary to carry out the intent of this
Agreement.

 

10.           Attorneys’ Fees.   Should
any dispute arise pertaining to this Agreement, the prevailing parties in any
litigation shall be entitled, among other things, to recover reasonable attorneys’
fees and costs incurred in connection with such dispute.

 

11.           Governing Law.   This
Agreement is made and entered into at San Diego, California, and shall be
interpreted, enforced and governed by and under the laws of California.

 

12.           Jurisdiction and
Venue.   Parties agree that any action, whether judicial
action, arbitration, or otherwise, taken to enforce or interpret the terms of
this Agreement shall be brought and maintained in San Diego County, California,
and in no other place.

 

13.           Independent Advice.   Parties
each acknowledge that they have received independent legal advice with respect
to the advisability of making this Agreement, and specifically with respect to
the meaning and effect of waiving California Civil Code Section 1542.

 

14.           Tax Consequences.   The
Parties acknowledge and understand that there may be certain tax consequences
connected with entering into this Agreement and by executing this Agreement,
each party confirms that neither any other party nor any other party’s counsel
have made any representations in that regard.

 

15.           Severance.   If
a provision of this Agreement is held to be illegal or invalid by a court of
competent jurisdiction, such provision shall either be rewritten by the Court
to be legal and valid as long as the rewritten provision remains consistent
with the intent of the parties expressed herein or deemed to be severed and
deleted. Neither such revision nor such severance and deletion shall affect the
validity of the remaining provisions.

 

16.           Counterparts.  This
Agreement may be executed in one or more counterparts, all of which together
shall constitute one and the same Agreement.

 

17.           Interpretation.   The
parties have each agreed to the use of the particular language of the
provisions of this Agreement, and any question of doubtful interpretation shall
not be resolved by any rule of interpretation providing for interpretation
against the parties who cause an uncertainty to exist or against the draftsman.

 

 

18.           Authority.   Any
person executing this Agreement on behalf of an entity represents and warrants
that such entity has approved this Agreement.

 

19.           Pronouns.   Masculine
and/or feminine pronouns shall be substituted for the neuter form and/or vice
versa, and the plural shall be substituted for the singular form and/or vice
versa, in any place or places herein in which the content requires such
substitution or substitutions.

 

20.           No Oral
Modifications.   This Agreement may be amended or modified
in writing only, signed by the parties to be charged or bound by such amendment
or modification.

 

IN WITNESS WHEREOF, the undersigned have executed this
Termination of Lease as of the date first written above.

 

 

	
  LANDLORD:

  	
  BLACKMORE
  SIGNAL HILL,  

  a California limited partnership 

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Allen Joseph
  Blackmore

  
	
   

  	
   

  	
  Allen Joseph Blackmore, Trustee of the 

  Blackmore Family Trust, Restated 1995 

  
	
   

  	
   

  	
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  TENANT:

  	
  GENOPTIX,
  INC.,  

  a Delaware corporation 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Douglas A.
  Schuling

  
	
   

  	
   

  	
  Its:

  	
  SVP and CFO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  The undersigned hereby executes
  this 

  Agreement solely for purposes of its 

  acknowledgement of, and agreement to be 

  bound by, the provisions of Section 2 of this 

  Agreement.  

  
	
   

  	
   

  	
   

  
	
  LANDLORD
  AFFILIATE:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Allen Joseph
  Blackmore

  
	
   

  	
   

  	
  Allen Joseph Blackmore, Trustee of the

  Blackmore Family Trust, Restated 1995

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00149-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00149-of-00352.parquet"}]]