Document:

Exhibit 10.48

 

THIRD AMENDMENT TO SUBLEASE

 

THIS THIRD AMENDMENT TO SUBLEASE (“Third Amendment”) is entered into as of this
27th day of January, 2006 by and between Vertex Pharmaceuticals Incorporated (“Sublandlord”) and Momenta
Pharmaceuticals, Inc. (“Subtenant”).

 

R E C I T A L S

 

A. Sublandlord and Subtenant entered into a
sublease, dated as of September 14, 2004 in which Sublandlord subleased to
Subtenant that certain real property on the fourth floor and the first floor (“Sublease
Premises”) of the building
located at 675 West Kendall Street, Cambridge, Massachusetts (“Building”), which sublease Sublandlord
and Subtenant amended by a First Amendment to Sublease (“First Amendment”)
dated September 7, 2005 and by a Second Amendment dated November 16,
2005  (as amended, “Sublease”); and

 

B. The Sublease provided in Section 1(b) for
the use of approximately 20,000 rentable square feet located on the third floor
of the Building and defined in the Sublease as the “Temporary Premises” from
the Commencement Date until March 31 2006 at which time Subtenant was to
vacate the Temporary Premises in accordance with the terms of the Sublease; and

 

C. Sublandlord and Subtenant desire to modify the
Temporary Premises Expiration Date to provide for a phased expiration date on
the terms and conditions set forth herein, as well as revising and confirming
other provisions of the Sublease as set forth herein.

 

NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Sublandlord and Subtenant, for themselves and their respective successors and
assigns, covenant and agree as follows:

 

1.                                       Extension of Temporary
Premises Demise. The phased vacancy plan denotes the areas of the Temporary Premises,
which the Subtenant will vacate on the dates set forth herein and is attached
as Exhibit B to this Third Amendment (“Phased Vacancy Plan”). The
date on which Subtenant is obligated to vacate the Temporary Premises pursuant
to Section 1(b) of the Sublease is changed from March 31, 2006
to:  (a) with respect to the area
shown as “A” on the Phased Vacancy Plan, December 31, 2005;  (b) with respect to the area shown as “B”
on the Phased Vacancy Plan, January 31, 2006;  (c) with respect to the area shown as “C”
on the Phased Vacancy Plan, February 15, 2006;  and (d) with respect to the area shown
as “D” on the Phased Vacancy Plan, June 30, 2006 (with respect to each
specific area of the Temporary Premises, the “Temporary Premises Expiration
Date”).

 

2.                                       Temporary Premises Doors. Sublandlord shall construct the entrance doors as
shown on the Phased Vacancy Plan, upon the written request of Subtenant and at
the sole cost of Subtenant.

 

3.                                       Subtenant’s Share. “Subtenant’s Share” as defined in the Defined Terms
of the Sublease is amended to read as follows:

 

 

The ratio, expressed as a percentage, of the Rentable
Square Footage of the premises leased by Subtenant to the Rentable Square
Footage of the Master Premises, equal to (i) 6.88% from the Commencement
Date until the day prior to the Sublease Premises Rent Commencement Date, (ii) 25.22%
from the Sublease Premises Rent Commencement Date through June 30, 2006,
and (iii) 26.99% thereafter.

 

4.                                       Definitions. Unless otherwise set forth in this Third
Amendment, all capitalized terms shall have the same meaning as set forth in
the Sublease.

 

5.                                       Effective Date. This Third Amendment shall take effect as of the
date on which Landlord consents in writing to this Third Amendment (“Effective Date”).

 

6.                                       Ratification. The Sublease, as amended hereby, is hereby
ratified, confirmed and deemed in full force and effect in accordance with its
terms. Each party represents to the other that such party (a) is currently
unaware of any default by the other party under the Sublease; and (b) has
full power and authority to execute and deliver this Third Amendment and this
Third Amendment represents a valid and binding obligation of such party
enforceable in accordance with its terms.

 

7.                                       Multiple Counterparts. This Third Amendment may be executed in
multiple counterparts, each of which when so executed and delivered shall be
deemed to be originals and together shall constitute but one and the same
instrument.

 

8.                                       No Offer.
Submission of this instrument for examination and signature by Subtenant does
not constitute an offer to lease or a reservation of or option for lease, and
this instrument is not effective as a sublease amendment or otherwise until
executed and delivered by both Sublandlord and Subtenant and consented to by
Master Landlord.

 

9.                                       Master Landlord Consent. BMR-675 West Kendall Street LLC, a Delaware
limited liability company, as a successor to Kendall Square, LLC is the Master
Landlord as defined in the Sublease under the Master Lease, also defined in the
Sublease. Following the parties’ execution of this Third Amendment, Sublandlord
shall promptly submit this Third Amendment to the Master Landlord for its
consent. The effectiveness of this Third Amendment is conditioned on the
consent to this Third Amendment by Master Landlord as indicated by its
execution of this Third Amendment in the space provided below (or the execution
of another consent form reasonably satisfactory to Sublandlord and
Subtenant) on or before January 31, 2006.

 

1

 

IN WITNESS WHEREOF, the parties hereto have executed
this instrument under seal as of the day and year first above written.

 

	
   

  	
  SUBLANDLORD:

  
	
   

  	
   

  
	
   

  	
  VERTEX PHARMACEUTICALS

  INCORPORATED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth S.
  Boger

  
	
   

  	
  Name:

  	
  Kenneth S. Boger

  
	
   

  	
  Title:

  	
  Senior VP & General Counsel

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SUBTENANT:

  
	
   

  	
   

  
	
   

  	
  MOMENTA PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/
  Richard P. Shea

  
	
   

  	
   

  	
  Richard P. Shea,
  its Vice President, Treasurer and Chief Financial Officer

  

 

2

 

EXHIBIT A

MASTER LANDLORD CONSENT

 

The undersigned, BMR-675
West Kendall Street LLC, hereby
consents to this Third Amendment, subject to the terms and conditions of that
certain Consent to Sublease dated as of September 23, 2004, by and between
KS Parcel A, LLC (as predecessor-in-interest to Master Landlord), Sublandlord
and Subtenant.

 

	
   

  	
  MASTER
  LANDLORD

  
	
   

  	
  BMR-675 WEST KENDALL STREET LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Gary A. Kreitzer

  
	
   

  	
  Name:

  	
  Gary A. Kreitzer

  
	
   

  	
  Title:

  	
  Executive VP.

  

 

 

EXHIBIT B

 

PHASED
VACANCY PLAN FOR TEMPORARY PREMISES 

 

FOLLOWING
THIS PAGEExhibit 10.17

 

	
  

  	
   

  	
  Ordinary
  Labor Contract

  	
   

  
	
   

  	
  For
  Indefinite Time Period

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  Ministry of Labor

  	
   

  	
   

  	
   

  
	
  and Social Security

  	
   

  	
   

  	
   

  
	
  National Institute of
  Labor

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Contract Code

  	
  0

  	
  1

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Registry Seal of the Office of the National
  Institute of Employment (INEM).

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Social Security

  	
  Code

  	
  Number

  	
  Dig.
  Contr.

  	
   

  	
   

  
	
   

  	
  Registration Number

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  (Social Security Account)    

  	
  xx

  	
  xxxxxx

  	
  xx

  	
   

  	
   

  
	
  For the Firm

  	
   

  	
   

  
	
   

  	
  Regime of Social Security

  	
   

  
																

 

	
  Mr./Ms (1):   CLEMENTE GONZALEZ AZPEITIA

  	
  National ID:

  	
  xxxxxxxxx

  	
  Position (1):

  	
  GENERAL DIRECTOR

  
	
  Name or
  registered name: BELMAC LABORATORIES  S.A Tax code/number: 78964038  Economic Activity: FAP. ESP. FARM. AAE

  
	
  Personal
  Domicile: Montearagon Street, 9

  	
  City: Madrid

  	
  Postal code:
  28033

  	
  Number: 108

  
	
  Business
  Domicile: Montearagon Street, 9

  	
  City: Madrid

  	
  Postal code:
  28033

  	
  Number: 57

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mr./Ms.: ADOLFO
  HERRERA MALAGA

  	
  Social Security
  Number:   xxxxxxxxxxxxx

  	
  Level of
  Education:           Code

  
	
  Date of Birth:
  1-04-1960

  	
  National ID:
  xxxxxxxxx

  	
  Domicile:  XXXXXXXXXXX

  
	
   

  	
   

  	
   

  
												

 

With
the legal assistance in your case of
                                                                                                                             

License
number                                                                      ,
in his/her capacity as (2)                                                     

 

DECLARE

 

That
the conditions necessary to create the present labor contract are met and
therefore [the parties] agree to formalize the agreement with the following
conditions:

 

	
  CLAUSES

  
	
   

  	
  GENERAL ADJUNCT DIRECTOR

  

 

First.-  The employee will lend his/her services as
(3)

with
the professional category of DIRECTOR at the headquarters located at
MONTEARAGON STREET, MADRID, SPAIN 

 

Second.-
The work schedule shall be           
FORTY           hours per week
from MONDAY to FRIDAY               with
vacation time as legally established or as convenient.

 

Third.-  The employee shall receive a total
compensation of 13,000,000                         pesetas
(4) ANNUALLY                 that
shall be distributed in the following method (5)                             BASE
SALARY PLUS SUPPLEMENTS

 

	
  Fourth.-  The duration of the
  present contract shall be INDEFINITE, starting from the business day and
  there shall be established a 

  
	
  trial period of (6)                                                                             

  	
   

  	
  2-12-98

  

 

(1)          Director, General, .... Etc.

(2)          Father, mother, or legal representative.

(3)          Indicate the profession

 

 

(4)          Daily, weekly, monthly.

(5)          Base salary, supplemental salaries, bonuses.

(6)          In any case, one must respect Article 14.1 of the Consolidated
Text of the Law of Workers, approved by the legislature 1/1995, March 24
(B.O.E. March 24)

(7)          Minimum of thirty natural days

 

Fifth.-  The duration of annual vacations shall be (7) THIRTY
NATURAL DAYS

 

Sixth.-  Areas not foreseen or covered under this
contract shall be decided by current law, particularly the law contained in the
Consolidated Text of the Law of Workers.

 

Seventh.-  The present contract shall be registered in
the National Institute of Employment (INEM) SANTAMARCA- MADRID

 

ADDITIONAL CLAUSES

 

First.-  The company shall establish a premium for achieving
objectives where the amount, form of payment, and objectives shall be
fixed by set criteria.

 

Second.-  The
annual compensation shall be prorated in 12 monthly installments.

 

And
for the record the contract shall be drawn up in triplicate and in the place
and date indicated as follows, signed by the interested parties.

 

	
   

  	
  In MADRID on the TWELFTH of FEBRUARY     1998

  
	
  The employee

  	
   

  	
  The representative of the Firm,

  	
  The legal representative

  
	
   

  	
   

  	
  of the firm

  	
  of the minor, if applicable

  
	
   

  	
   

  	
  BELMAC LABORATORIES, S.A.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Signed: 

  	
  /s/ Adolfo Herrera

  	
   

  	
   

  	
  Signed:  

  	
  /s/ Clemente Gonzalez Azpeitia

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]