Document:

exv10w6

Exhibit 10.6

SECURITIES PURCHASE AGREEMENT

     THIS SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated as of March 31, 2009, by and
among Alseres Pharmaceuticals, Inc., a Delaware corporation with headquarters located at 239 South
Street, Hopkinton, MA 01748 (the “Company”) and each investor identified on the signature pages
hereto (individually, an “Investor” and collectively, the “Investors).

PREAMBLE

     A. The Company and each Investor is executing and delivering this Agreement in reliance upon
the exemption from registration afforded by Section 4(2) of the Securities Act of 1933, as amended
(the “Securities Act”), and Rule 506 of Regulation D as promulgated by the United States Securities
and Exchange Commission (the “SEC”) under the Securities Act.

     B. Each Investor, severally and not jointly, wishes to purchase, and the Company wishes to
sell, upon the terms and conditions stated in this Agreement and for a purchase price of $25 per
share, that aggregate number of shares of Series F Convertible Preferred Stock, par value $0.01 per
share, of the Company (the “Series F Stock”), set forth on such Investor’s signature page to this
Agreement (which aggregate amount for all Investors together shall be up to 100,000 shares of
Series F Stock and shall collectively be referred to herein as the “Shares”).

     NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for
other good and valuable consideration the receipt and adequacy of which are hereby acknowledged,
the Company and the Investors, severally and not jointly, agree as follows:

ARTICLE I

DEFINITIONS

     1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, the
following terms have the meanings indicated:

     “Affiliate” means any Person that, directly or indirectly through one or more intermediaries,
controls or is controlled by or is under common control with a Person, as such terms are used in
and construed under Rule 144 under the Securities Act.

     “Agreement” has the meaning set forth in the Preamble.

     “Business Day” means any day other than Saturday, Sunday, any day which shall be a federal
legal holiday in the United States or any day on which banking institutions in The State of New
York are authorized or required by law or other governmental action to close.

     “Closing” has the meaning set forth in the in Section 2.1.

     “Closing Date” has the meaning set forth in Section 2.1.

 

 

     “Company” has the meaning set forth in the Preamble.

     “Company Counsel” means Wilmer Cutler Pickering Hale and Dorr LLP, counsel to the Company.

     “Common Stock” means shares of common stock, par value $0.01 per share, of the Company.

     “Convertible Securities” means any stock or securities (other than Options) convertible into
or exercisable or exchangeable for Common Stock.

     “Disclosure Materials” has the meaning set forth in Section 3.1(e).

     “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     “FINRA” has the meaning set forth in Section 3.2(c).

     “Investor” has the meaning set forth in the Preamble.

     “Lien” means any lien, charge, claim, security interest, encumbrance, right of first refusal
or other restriction.

     “Material Adverse Effect” means (i) a material adverse effect on the results of operations,
assets, business or financial condition of the Company and its subsidiaries taken as a whole on a
consolidated basis or (ii) material and adverse impairment of the Company’s ability to perform its
obligations under this Agreement, provided, that none of the following alone shall be deemed, in
and of itself, to constitute a Material Adverse Effect: (i) a change in the market price or
trading volume of the Common Stock or (ii) changes in general economic conditions or changes
affecting the industry in which the Company operates generally (as opposed to Company-specific
changes) so long as such changes do not have a disproportionate effect on the Company and its
subsidiaries taken as a whole.

     “Options” means any outstanding rights, warrants or options to subscribe for or purchase
Common Stock or Convertible Securities.

     “Restricted Shares” has the meaning set forth in Section 4.1(a).

     “SEC” has the meaning set forth in the Preamble.

     “SEC Reports” has the meaning set forth in Section 3.1(e).

     “Series F Stock” has the meaning set forth in the Preamble.

     “Shares” has the meaning set forth in the Preamble.

     “Securities Act” has the meaning set forth in the Preamble.

     “Short Sales” has the meaning set forth in Section 3.2(i).

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     “Trading Day” means (i) a day on which the Common Stock is traded on a Trading Market (other
than the OTC Bulletin Board), or (ii) if the Common Stock is not listed or quoted on a Trading
Market (other than the OTC Bulletin Board), a day on which the Common Stock is traded in the
over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not
listed or quoted on any Trading Market, a day on which the Common Stock is quoted in the
over-the-counter market as reported by the Pink Sheets LLC (or any similar organization or agency
succeeding to its functions of reporting prices); provided, that in the event that the Common Stock
is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a
Business Day.

     “Trading Market” means whichever of the New York Stock Exchange, the American Stock Exchange,
the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market or the OTC
Bulletin Board on which the Common Stock is listed or quoted for trading on the date in question.

     “Transaction” has the meaning set forth in Section 3.2(i).

     “Transfer Agent” means Continental Stock Transfer & Trust Company, or any successor transfer
agent for the Company.

ARTICLE II

PURCHASE AND SALE

     2.1 Closing. The Closing (the “Closing”) of the sale and purchase of the Shares under
this Agreement shall take place on the date hereof (the “Closing Date”), at the offices of Company
Counsel or remotely via the exchange of documents and signatures.

     2.2 Closing Deliveries.

          (a) At the Closing, the Company shall deliver or cause to be delivered to each Investor
evidence of a direct registration account in such Investor’s name as set forth on such Investor’s
signature page to this Agreement, and the deposit, by direct registration, into such account of the
number of Shares purchased by such Investor.

          (b) At the Closing, each Investor shall deliver or cause to be delivered to the Company the
purchase price set forth on such Investor’s signature page to this Agreement in United States
dollars and in immediately available funds, by wire transfer to an account designated in writing to
such Investor by the Company for such purpose.

ARTICLE III

REPRESENTATIONS AND WARRANTIES

     3.1 Representations and Warranties of the Company. The Company hereby represents and
warrants to the Investors as follows:

          (a) Organization and Qualification. The Company is an entity duly organized, validly
existing and in good standing under the laws of the State of Delaware, with the requisite power and
authority to own and occupy its properties and to carry on its business as currently

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conducted.
The Company is not in violation of any of the provisions of its certificate of incorporation or
bylaws. The Company is duly qualified to do business and is in good standing as a foreign
corporation in each jurisdiction in which the nature of the business conducted or property owned by
it makes such qualification necessary, except where the failure to be so qualified or in good
standing, as the case may be, would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect.

          (b) Authorization; Enforcement. The Company has the requisite corporate authority to
enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry
out its obligations hereunder. The execution and delivery of this Agreement by the Company and the
consummation by it of the transactions contemplated hereby have been duly authorized by all
necessary corporate action on the part of the Company and no further consent or action is required
by the Company, its Board of Directors or its stockholders. This Agreement has been (or upon
delivery will be) duly executed by the Company and, assuming the due authorization, execution and
delivery by the Investors, is, or when delivered in accordance with the terms hereof, will
constitute, the valid and binding obligation of the Company enforceable against the Company in
accordance with its terms, except (i) as limited by general equitable principles and applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting
enforcement of creditors’ rights generally and (ii) as limited by laws relating to the availability
of specific performance, injunctive relief or other equitable remedies.

          (c) No Conflicts. The execution, delivery and performance of this Agreement by the
Company and the consummation by the Company of the transactions contemplated hereby do not, and
will not, (i) conflict with or violate any provision of the Company’s certificate of incorporation
or bylaws, (ii) conflict with, or constitute a default (or an event that with notice or lapse of
time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement,
credit facility, debt or other instrument (evidencing a Company debt or otherwise) or other
agreement to which the Company is a party or by which any property or asset of the Company is
bound, or affected, except to the extent that such conflict, default, termination, amendment,
acceleration or cancellation right would not reasonably be expected to have a Material Adverse
Effect, or (iii) result in a violation of any law, rule, regulation, order, judgment, injunction,
decree or other restriction of any court or governmental authority to which the Company is subject
(including, assuming the accuracy of the representations and warranties of the Investors set forth
in Section 3.2 hereof, federal and state securities laws and regulations and the rules and
regulations of any self-regulatory organization to which the Company or its securities are
subject), or by which any property or asset of the Company is bound or affected, except to the
extent that such violation would not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect.

          (d) Issuance of Shares and Common Stock. The issuance, sale and delivery of the
Shares in accordance with this Agreement, and the issuance and delivery of the shares of Common
Stock issuable upon conversion of the Shares, have been duly authorized. The Shares
when so issued, sold and delivered against payment therefor in accordance with the provisions
of this Agreement, and the shares of Common Stock issuable upon conversion of the Shares, when
issued upon such conversion, will be duly and validly issued, fully paid and nonassessable, free

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and clear of all Liens and will not be subject to preemptive or similar rights of stockholders
(other than those provided for in this Agreement). The Company has reserved from its duly
authorized capital stock the number of shares of Common Stock issuable upon conversion of the
Shares.

          (e) SEC Reports. The Company has filed all documents required to be filed by it under
the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the twelve months
preceding the date hereof on a timely basis or has received a valid extension of such time of
filing and has filed any such documents prior to the expiration of any such extension and has filed
all documents required to be filed by it under the Exchange Act, including pursuant to Section
13(a) or 15(d) thereof, for the two years preceding the date hereof, such documents, together with
any materials filed or furnished by the Company under the Exchange Act, whether or not any such
reports were required being collectively referred to herein as the “SEC Reports” and, together with
this Agreement, the “Disclosure Materials”. As of their respective dates (or, if amended or
superseded by a filing prior to the Closing Date, then on the date of such filing), the SEC Reports
filed by the Company complied in all material respects with the requirements of the Securities Act
and the Exchange Act and the rules and regulations of the SEC promulgated thereunder, and none of
the SEC Reports, when filed (or, if amended or superseded by a filing prior to the Closing Date,
then on the date of such filing) by the Company, contained any untrue statement of a material fact
or omitted to state a material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they were made, not misleading.

          (f) Capitalization. The authorized capital stock of the Company (immediately prior to
the Closing) consists of 80,000,000 shares of Common Stock, of which 23,055,645 were issued and
outstanding as of such date and 1,000,000 shares of preferred stock, $.01 par value per share, of
which 25,000 shares are designated as Series A Convertible Preferred Stock, 500,000 shares are
designated as Series D Convertible Preferred Stock, 800 shares are designated as Series E
Convertible Preferred Stock and 200,000 shares are designated as Series F Stock, of which 20,000
shares were issued and outstanding as of such date. All outstanding shares of capital stock are
duly authorized, validly issued, fully paid and nonassessable and have been issued in compliance in
all material respects with all applicable securities laws. Except as disclosed in or contemplated
the SEC Reports, the Company does not have outstanding any other Options, script rights to
subscribe to, calls or commitments relating to, or securities, rights or obligations convertible
into or exercisable or exchangeable for, or entered into any agreement giving any Person any right
to subscribe for or acquire, any shares of Common Stock, or securities or rights convertible or
exchangeable into shares of Common Stock. Except as set forth in the SEC Reports, and except for
customary adjustments as a result of stock dividends, stock splits, combinations of shares,
reorganizations, recapitalizations, reclassifications or other similar events, there are no
anti-dilution or price adjustment provisions contained in any security issued by the Company (or in
any agreement providing rights to security holders) and the issuance and sale of the Securities
will not obligate the Company to issue shares of Common Stock or other securities to any Person
(other than the Investors) and will not result in a right of
any holder of the Company’s securities to adjust the exercise, conversion, exchange or reset
price under such securities.

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          (g) Compliance. Except as would not, individually or in the aggregate, reasonably be
expected to have or result in a Material Adverse Effect, (i)  the Company is not in default under
or in violation of (and no event has occurred that has not been waived that, with notice or lapse
of time or both, would result in a default by the Company under), nor has the Company received
written notice of a claim that it is in default under or that it is in violation of, any indenture,
loan or credit agreement or any other agreement or instrument to which it is a party or by which it
or any of its properties is bound (whether or not such default or violation has been waived), (ii) 
the Company is not in violation of any order of any court, arbitrator or governmental body, and
(iii)  the Company is not in violation of any statute, rule or regulation of any governmental
authority.

     3.2 Representations and Warranties of the Investors. Each Investor hereby, as to
itself only and for no other Investor, represents and warrants to the Company as follows:

          (a) Organization; Authority. If such Investor is an entity, such Investor is an
entity duly organized, validly existing and in good standing under the laws of the jurisdiction of
its organization with the requisite corporate, partnership or other power and authority to enter
into and to consummate the transactions contemplated by this Agreement and otherwise to carry out
its obligations hereunder. The purchase by such Investor of the Shares hereunder has been duly
authorized by all necessary corporate, partnership or other action on the part of such Investor.
This Agreement has been duly executed and delivered by such Investor and constitutes the valid and
binding obligation of such Investor, enforceable against it in accordance with its terms, except
(i) as limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of
creditors’ rights generally, (ii) as limited by laws relating to the availability of specific
performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and
contribution provisions may be limited by applicable law.

          (b) No Public Sale or Distribution. Such Investor is acquiring the Shares and upon
conversion of the Shares will acquire the Common Stock issuable upon conversion thereof, for its
own account for investment and not with a view towards, or for resale in connection with, the
public sale or distribution thereof, and such Investor does not have a present intention to effect
any distribution of the Shares or such Common Stock to or through any person or entity;
provided, however, that by making the representations herein, such Investor does
not agree to hold any of the Shares or such Common Stock for any minimum or other specific term and
reserves the right to dispose of the Shares and such Common Stock at any time in accordance with or
pursuant to a registration statement or an exemption under the Securities Act.

          (c) Investor Status. At the time such Investor was offered the Shares, it was, and on
the date hereof it is, an “accredited investor” as defined in Rule 501(a) under the Securities Act.
Such Investor is not a registered broker dealer registered under Section 15(a) of the Exchange
Act, nor required to be registered as such, or a member of The Financial Industry Regulatory
Authority (“FINRA”) or an entity engaged in the business of being a broker dealer. Such Investor
is not affiliated with any broker dealer registered under Section 15(a) of the Exchange Act, or a member of FINRA or an entity engaged in the business of being a broker
dealer.

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          (d) General Solicitation. Such Investor is not purchasing the Shares as a result of
any advertisement, article, notice or other communication regarding the Shares published in any
newspaper, magazine or similar media, broadcast over television or radio, disseminated over the
Internet or presented at any seminar or any other general solicitation or general advertisement.

          (e) Experience of Such Investor. Such Investor, either alone or together with its
representatives has such knowledge, sophistication and experience in business and financial matters
so as to be capable of evaluating the merits and risks of the prospective investment in the Shares,
including the risk of total loss of such Investor’s investment, and has so evaluated the merits and
risks of such investment. Such Investor understands that it must bear the economic risk of this
investment in the Shares indefinitely, and is able to bear such risk and is able to afford a
complete loss of such investment. Such Investor understands that the market price of the Common
Stock can be volatile and that no representation is being made as to the future value of the Shares
or the Common Stock.

          (f) Access to Information. Such Investor acknowledges that it has reviewed the
Disclosure Materials and has been afforded: (i) the opportunity to ask such questions as it has
deemed necessary of representatives of the Company concerning the terms and conditions of the
offering of the Shares and the merits and risks of investing in the Shares; (ii) access to
information about the Company and each of its subsidiaries and their respective financial
condition, results of operations, business, properties, management and prospects sufficient to
enable it to evaluate its investment; and (iii) the opportunity to obtain such additional
information that the Company possesses or can acquire without unreasonable effort or expense that
is necessary to make an informed investment decision with respect to the investment. Neither such
inquiries nor any other investigation conducted by or on behalf of such Investor or its
representatives or counsel shall modify, amend or affect such Investor’s right to rely on the
Company’s representations and warranties contained herein. Such Investor acknowledges that no
third party has made or will make any representation or warranty to such Investor regarding the
adequacy or completeness for such Investor’s purpose of the information such Investor has
requested. Such Investor acknowledges receipt of copies of the SEC Reports filed through the date
hereof.

          (g) No Governmental Review. Such Investor understands that no United States federal
or state agency or any other government or governmental agency has passed on or made any
recommendation or endorsement of the Shares or the fairness or suitability of the investment in the
Shares nor have such authorities passed upon or endorsed the merits of the offering of the Shares.

          (h) No Conflicts. The execution, delivery and performance by such Investor of this
Agreement and the consummation by such Investor of the transactions contemplated hereby will not
(i) result in a violation of the organizational documents, if any, of such Investor or
(ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both
would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which such Investor
is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree
(including federal and state securities laws) applicable to such Investor, except in the case of

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clauses (ii) and (iii) above, for such that are not material and do not otherwise affect the
ability of such Investor to consummate the transactions contemplated hereby.

          (i) Prohibited Transactions; Confidentiality. Such Investor, directly or indirectly,
has not and no Person acting on behalf of or pursuant to any understanding with such Investor, has
engaged in any purchases or sales in the securities, including derivatives, of the Company
(including, without limitation, any Short Sales (a “Transaction”) involving any of the Company’s
securities) since the time that such Investor was first contacted by the Company or any other
Person regarding the investment in the Company contemplated by this Agreement. Such Investor
covenants that neither it nor any Person acting on its behalf or pursuant to any understanding with
such Investor will engage, directly or indirectly, in any Transactions in the securities of the
Company (including Short Sales) prior to the time the transactions contemplated by this Agreement
are publicly disclosed. “Short Sales” include, without limitation, all “short sales” as defined in
Rule 200 promulgated under Regulation SHO under the Exchange Act and all types of direct and
indirect stock pledges, forward sale contracts, options, puts, calls, short sales, swaps,
derivatives and similar arrangements (including on a total return basis), and sales and other
transactions through non-U.S. broker-dealers or foreign regulated brokers.

          (j) Restricted Securities. Such Investor understands that the Shares (and the shares
of Common Stock into which the Shares are convertible) are characterized as “restricted securities”
under the U.S. federal securities laws inasmuch as they are being acquired from the Company in a
transaction not involving a public offering and that under such laws and applicable regulations
such securities may be resold without registration under the Securities Act only in certain limited
circumstances and that the Company is relying upon the truth and accuracy of, and such Investor’s
compliance with, representations, warranties, agreements, acknowledgements, understandings of such
Investor set forth herein in order to determine the availability of such exemptions of such
Investor and the eligibility of such Investor to acquire the Shares.

          (k) Legends. It is understood that, except as provided in Section 4.1(b) of
this Agreement, certificates evidencing the Restricted Shares may bear the legend set forth in
Section 4.1(c).

          (l) No Legal, Tax or Investment Advice. Such Investor understands that nothing in
this Agreement or any other materials presented by or on behalf of the Company to such Investor in
connection with the purchase of the Shares constitutes legal, tax or investment advice. Such
Investor has consulted such legal, tax and investment advisors as it, in its sole discretion, has
deemed necessary or appropriate in connection with his purchase of the Shares.

          (m) Offering Documents. Such Investor understands that other than this Agreement and
the SEC Reports, no disclosure or offering document will be provided or prepared in connection with
the offer and sale of the Shares contemplated hereby.

          (n) Restrictions on Shares. Such Investor acknowledges that the Company has
represented that no action has been or will be taken in any jurisdiction outside the United States
by the Company that would permit an offering of the Shares, or possession or distribution of
offering materials in connection with the issuance of the Shares, in any jurisdiction outside the

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United States where action for that purpose is required. If such Investor is located or domiciled
outside the United States, it agrees to comply with all applicable laws and regulations in each
foreign jurisdiction in which it purchases, offers, sells or delivers Shares or has in its
possession or distributes any offering material, in all cases at its own expense.

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ARTICLE IV

OTHER AGREEMENTS OF THE PARTIES

     4.1 Transfer Restrictions.

     (a) Restricted Shares. “Restricted Shares” means (a) the Shares, (b) the shares of
Common Stock issued or issuable upon conversion of the Shares, and (c) any other shares of capital
stock of the Company issued in respect of such shares (as a result of stock splits, stock
dividends, reclassifications, recapitalizations or similar events); provided,
however, that shares of Common Stock which are Restricted Shares shall cease to be
Restricted Shares (x) upon any sale pursuant to a registration statement under the Securities Act,
Section 4(1) of the Securities Act or Rule 144 under the Securities Act or (y) at such time as (i)
a period of at least one year, as determined in accordance with paragraph (d) of Rule 144 under the
Securities Act, has elapsed since the later of the date the Restricted Shares were acquired from
the Company or an Affiliate of the Company and (ii) they become eligible for sale under Rule
144(b)(1)(i) under the Securities Act.

     (b) Requirements for Transfer. Restricted Shares shall not be sold or transferred
unless either (i) they first shall have been registered under the Securities Act or (ii) the
Company first shall have been furnished with an opinion of legal counsel, reasonably satisfactory
to the Company, to the effect that such sale or transfer is exempt from the registration
requirements of the Securities Act.

     (c) Legend. Each certificate representing Restricted Shares shall bear a legend
substantially in the following form:

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL SUCH SHARES ARE REGISTERED
UNDER SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY IS OBTAINED TO
THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED.”

     The foregoing legend shall be removed from the certificates representing any Restricted
Shares, at the request of the holder thereof, at such time as (a) a period of at least one year, as
determined in accordance with paragraph (d) of Rule 144 under the Securities Act, has elapsed since
the later of the date the Restricted Shares were acquired from the Company or an affiliate of the
Company, and (b) the Restricted Shares become eligible for resale pursuant to Rule 144(b)(1)(i)
under the Securities Act.

     4.2 Furnishing of Information. Until the date that any Investor may sell all of its
Shares (or the shares of Common Stock into which the Shares have at such time converted) under Rule
144 of the Securities Act (or any successor provision), the Company covenants to use its reasonable
best efforts to timely file (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to the
Exchange Act. The Company further covenants that it will take such further

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action as any Investors holding shares (or the shares of Common Stock into which the Shares
have at such time converted) may reasonably request, to the extent required from time to time to
enable such Investor to sell such Shares (or the shares of Common Stock into which the Shares have
at such time converted) without registration under the Securities Act.

     4.3 Integration. The Company shall not, and shall use its reasonable best efforts to
ensure that no Affiliate thereof shall, sell, offer for sale or solicit offers to buy or otherwise
negotiate in respect of any security (as defined in Section 2 of the Securities Act) that would be
integrated with the offer or sale of the Shares in a manner that would require the registration
under the Securities Act of the sale of the Shares to the Investors.

     4.4 Reservation of Securities. At all times during which Shares remain outstanding,
the Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance
pursuant to this Agreement in such amount as may be required to fulfill its obligations to issue
the shares of Common Stock issuable upon the conversion of the Shares. In the event that at any
time the then authorized shares of Common Stock are insufficient for the Company to satisfy its
obligations to issue such shares of Common Stock, the Company shall promptly take such actions as
may be required to increase the number of authorized shares.

     4.5 Treatment of Non-Public Information. Each Investor covenants and agrees with the
Company (a) to hold the existence, terms and conditions of the transactions contemplated by this
Agreement in confidence and not to disclose the same to any other person until such time as the
Company files with the SEC a Current Report on Form 8-K disclosing the offering or publicly
announces the offering, and (b) to hold all matters disclosed to it by the Company (other than any
matters included in the SEC Reports) in confidence and not to disclose the same to any other person
until such time as the Company files with the SEC a report publicly disclosing such information.
Each Investor understands that the federal securities laws impose restrictions on trading based on
information regarding the transactions contemplated by this Agreement.

ARTICLE V

MISCELLANEOUS

     5.1 Fees and Expenses. Each party hereto shall pay the fees and expenses of its
advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such
party incident to the negotiation, preparation, execution, delivery and performance of this
Agreement. The Investors shall pay, and hold the Company harmless against, any liability, loss or
expense (including, without limitation, reasonable attorney’s fees and out-of-pocket expenses)
arising in connection with any claim for fees from persons engages by any Investor or their
investment advisors arising out of the issuance of the Shares pursuant to this Agreement. The
Company shall pay all Transfer Agent fees, stamp taxes and other taxes and duties levied in
connection with the sale and issuance of the Securities.

     5.2 Entire Agreement. This Agreement contains the entire understanding of the parties
with respect to the subject matter hereof and supersedes all prior agreements and understandings,
oral or written, with respect to such matters, which the parties acknowledge have been merged into
such document. At or after the Closing, and without further consideration, the

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Company will execute and deliver to the Investors such further documents as may be reasonably
requested in order to give practical effect to the intention of the parties under this Agreement.

     5.3 Notices. Any and all notices or other communications or deliveries required or
permitted to be provided hereunder shall be in writing and shall be deemed given and effective on
the earliest of (a) the date of transmission, if such notice or communication is delivered via
facsimile or email at the facsimile number or email address specified in this Section 5.3
prior to 6:30 p.m. (Boston time) on a Trading Day, (b) the next Trading Day after the date of
transmission, if such notice or communication is delivered via facsimile or email at the facsimile
number or email address specified in this Section 5.3 on a day that is not a Trading Day or
later than 6:30 p.m. (Boston time) on any Trading Day, (c) the Trading Day following the date of
deposit with a nationally recognized overnight courier service, or (d) upon actual receipt by the
party to whom such notice is required to be given. The addresses, facsimile numbers and email
addresses for such notices and communications are those set forth on the signature pages hereof, or
such other address or facsimile number as may be designated in writing hereafter, in the same
manner, by any such Person.

     5.4 Amendments; Waivers. No provision of this Agreement may be waived or amended
except in a written instrument signed, in the case of an amendment, by the Company and the
Investors holding a majority of the shares of Common Stock issued or issuable upon conversion of
the Shares (voting as a single class and on an as-converted basis) or, in the case of a waiver, by
the party against whom enforcement of any such waiver is sought. No waiver of any default with
respect to any provision, condition or requirement of this Agreement shall be deemed to be a
continuing waiver in the future or a waiver of any subsequent default or a waiver of any other
provision, condition or requirement hereof, nor shall any delay or omission of any party to
exercise any right hereunder in any manner impair the exercise of any such right.

     5.5 Construction. The headings herein are for convenience only, do not constitute a
part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof.
The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

     5.6 Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of the parties and their successors and permitted assigns. The Company may not assign this
Agreement or any rights or obligations hereunder without the prior written consent of the
Investors. Any Investor may assign its rights under this Agreement to any Person to whom such
Investor assigns or transfers any Shares (or the shares of Common Stock issued upon conversion of
the Shares), provided (a) such transferor agrees in writing with the transferee or assignee to
assign such rights, and a copy of such agreement is furnished to the Company after such assignment,
(b) the Company is furnished with written notice of (i) the name and address of such transferee or
assignee and (ii) the number of Shares (or the shares of Common Stock issued upon conversion of the
Shares) being transferred or assigned, (c) following such transfer or assignment, the further
disposition of such shares by the transferee or assignee is restricted under the Securities Act and
applicable state securities laws, (d) such transferee agrees in writing to be bound, with respect
to the transferred Shares (or the shares of Common Stock issued upon conversion of the Shares), by
the provisions hereof that apply to the “Investor” and (e) such transfer shall have been made to an
“accredited investor” as that term is defined in Rule 501(a)

-12-

 

of Regulation D of the Securities Act and in accordance with the applicable requirements of
this Agreement and with all laws applicable thereto.

     5.7 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the
parties hereto and their respective successors and permitted assigns and is not for the benefit of,
nor may any provision hereof be enforced by, any other Person.

     5.8 Governing Law; Venue; Waiver of Jury Trial. THE CORPORATE LAWS OF THE STATE OF
DELAWARE SHALL GOVERN ALL ISSUES CONCERNING THE RELATIVE RIGHTS OF THE COMPANY AND ITS
STOCKHOLDERS. ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION
OF THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
DELAWARE. THE COMPANY AND THE INVESTORS HEREBY IRREVOCABLY SUBMIT TO THE NON-EXCLUSIVE
JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE STATE OF DELAWARE FOR THE ADJUDICATION
OF ANY DISPUTE BROUGHT BY THE COMPANY OR ANY INVESTOR HEREUNDER, IN CONNECTION HEREWITH OR WITH ANY
TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE ENFORCEMENT OF
ANY OF THE TRANSACTION DOCUMENTS), AND HEREBY IRREVOCABLY WAIVE, AND AGREE NOT TO ASSERT IN ANY
SUIT, ACTION OR PROCEEDING BROUGHT BY THE COMPANY OR ANY INVESTOR, ANY CLAIM THAT IT IS NOT
PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, OR THAT SUCH SUIT, ACTION OR PROCEEDING
IS IMPROPER. EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO
PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF VIA
REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH PARTY AT THE
ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL
CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN
SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. THE
COMPANY AND THE INVESTORS HEREBY WAIVE ALL RIGHTS TO A TRIAL BY JURY.

     5.9 Survival. The representations and warranties, agreements and covenants contained
herein shall survive the Closing until the date that is one year after the Closing Date (at which
time they shall expire and be of no further force or effect).

     5.10 Execution. This Agreement may be executed in two or more counterparts, all of
which when taken together shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each party and delivered to the other party, it being
understood that both parties need not sign the same counterpart. In the event that any signature
is delivered by facsimile transmission or email attachment, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the
same force and effect as if such facsimile or email-attached signature page were an original
thereof.

-13-

 

     5.11 Severability. If any provision of this Agreement is held to be invalid or
unenforceable in any respect, the validity and enforceability of the remaining terms and provisions
of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt
to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon
so agreeing, shall incorporate such substitute provision in this Agreement.

     5.12 Replacement of Certificates. If any certificate or instrument evidencing any
Shares or the shares of Common Stock issued upon conversion of the Shares is mutilated, lost,
stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for
and upon cancellation thereof, or in lieu of and substitution therefor, a new certificate or
instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss,
theft or destruction and the execution by the holder thereof of a customary lost certificate
affidavit of that fact and an agreement to indemnify and hold harmless the Company for any losses
in connection therewith. The applicants for a new certificate or instrument under such
circumstances shall also pay any reasonable third-party costs associated with the issuance of such
replacement.

[SIGNATURE PAGES FOLLOW]

-14-

 

     IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be
duly executed by their respective authorized signatories as of the date first indicated above.

	 	 	 	 	 	 	 
	 	 	ALSERES PHARMACEUTICALS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Kenneth L. Rice Jr.
 

Name: Kenneth L. Rice Jr.
	 	 
	 

	 	 	 	Title: EVP & CFO	 	 

	 	 	 
	 

	 	Address for Notice:
	 
	 	 
	 

	 	239 South Street
	 

	 	Hopkinton, MA 01748
	 

	 	Tel:      (508) 497-2360
	 

	 	Fax:      (508) 497-9964
	 

	 	Attn:     Chief Executive Officer
	 
	 	 
	 

	 	With a copy to:
	 
	 	 
	 

	 	Wilmer Cutler Pickering Hale and Dorr LLP
	 

	 	60 State Street
	 

	 	Boston, Massachusetts 02109
	 

	 	Tel     (617) 526-6439
	 

	 	Fax:     (617) 526-5000
	 

	 	Attn:     Philip Rossetti, Esq.

 

 

Investor Signature Page

     By its execution and delivery of this signature page, the undersigned Investor hereby joins in
and agrees to be bound by the terms and conditions of the Securities Purchase Agreement dated as of
March 31, 2009 (the “Purchase Agreement”) by and among Alseres Pharmaceuticals, Inc. and the
Investors (as defined therein), as to the number of shares of Series F Convertible Preferred Stock
(“Shares”) set forth below, and authorizes this signature page to be attached to the Purchase
Agreement or counterparts thereof.

	 	 	 	 	 
	 	Name of Investor:

 	 
	 	/s/ Robert L. Gipson
 	 
	 
	 	By:  	Robert L. Gipson
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 	 	 
	 

	 	Address for Notice:
	 	 
 

	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Telephone No.:
	 	 
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Facsimile No.:
	 	 
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Email Address:
	 	 
 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Number of Shares:
	 	 
 

	 	 
	 
	 	 	 	 	 	 
	 	 	Aggregate Purchase Price: $500,000                                        

-2-exv10w1

Exhibit 10.1

OFFICE LEASE AGREEMENT

BETWEEN

KING WALTHAM LLC

d/b/a

KING BEAR HILL

(“LANDLORD”)

AND

OXIGENE, Inc.

(“TENANT”)

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	I. Basic Lease Information
	 	 	1	 
	II. Lease Grant
	 	 	4	 
	III. Adjustment of Commencement Date; Possession
	 	 	4	 
	IV. Rent
	 	 	4	 
	V. Compliance with Laws; Use
	 	 	8	 
	VI. Security Deposit
	 	 	9	 
	VII. Services to be Furnished by Landlord
	 	 	10	 
	VIII. Leasehold Improvements
	 	 	11	 
	IX. Repairs and Alterations
	 	 	12	 
	X. Use of Electrical Services by Tenant
	 	 	13	 
	XI. Entry by Landlord
	 	 	14	 
	XII. Assignment and Subletting
	 	 	15	 
	XIII. Liens
	 	 	17	 
	XIV. Indemnity and Waiver of Claims
	 	 	17	 
	XV. Insurance
	 	 	18	 
	XVI. Subrogation
	 	 	18	 
	XVII. Casualty Damage
	 	 	19	 
	XVIII. Condemnation
	 	 	20	 
	XIX. Events of Default
	 	 	20	 
	XX. Remedies
	 	 	21	 
	XXI. Limitation of Liability
	 	 	23	 
	XXII. No Waiver
	 	 	23	 
	XXIII. Quiet Enjoyment
	 	 	23	 
	XXIV. Relocation
	 	 	23	 
	XXV. Holding Over
	 	 	24	 
	XXVI. Subordination to Mortgages; Estoppel Certificate
	 	 	24	 
	XXVII. Attorneys’ Fees
	 	 	25	 
	XXVIII. Notice
	 	 	25	 
	XXIX. Excepted Rights
	 	 	25	 
	XXX. Surrender of Premises
	 	 	26	 

Bear Hill Business Park, Waltham, Massachusetts

April 16, 2009

i

 

	 	 	 	 	 
	XXXI. Miscellaneous Covenants
	 	 	26	 
	XXXII. Miscellaneous
	 	 	26	 
	XXXII. Entire Agreement
	 	 	28	 

Bear Hill Business Park, Waltham, Massachusetts

April 16, 2009

ii

 

OFFICE LEASE AGREEMENT

          This Office Lease Agreement (the “Lease”) is made and entered into as of the 21st day of
April, 2009 by and between King Waltham LLC d/b/a/ King Bear Hill, a Massachusetts limited
liability company (“Landlord”) and OXIGENE, Inc. (“Tenant”) a Delaware corporation.

I. Basic Lease Information.

	 	A.	 	“Building” shall mean the building located within the Bear Hill Business Park at 300
Bear Hill Road, Waltham, Massachusetts.
	 
	 	B.	 	“Rentable Square Footage of the Building” is deemed
to be 30,762 square feet.
	 
	 	C.	 	“Premises” shall mean the area shown on Exhibit A to this Lease. The Premises are
located on the second (2nd) floor of the building. The “Rentable Square Footage
of the Premises” is deemed to be 3,891 square feet. Landlord and Tenant stipulate and agree
that the Rentable Square Footage of the Building and the Rentable Square Footage of the
Premises are correct and shall not be remeasured.
	 
	 	D.	 	“Base Rent”:

	 	 	 	 	 	 	 
	Period	 	Annual Rate	 	Annual	 	Monthly
	(Years)	 	Per Square Foot	 	Base Rent	 	Base Rent
	1

	 	$19.00
	 	$73,929.00
	 	$6,160.75
	2
	 	$20.00
	 	$77,820.00
	 	$6,485.00

	 	E.	 	“Tenant’s Pro Rata Share”: Tenant’s Pro Rata Share shall be a ratio, the numerator
of which is the Rentable Area of the Premises, and the denominator of which is the Rentable
Square Footage of the Building. The Pro Rata Share for the Premises is 12.65 %
	 
	 	F.	 	“Base Year” for Taxes: Fiscal Year (defined below) 2010 (i.e., July 1, 2009 to June
30, 2010).
	 
	 	 	 	“Base Year” for Expenses: Calendar Year 2009.
	 
	 	 	 	For purposes hereof, “Fiscal Year” shall mean the Base Year for Taxes and each period of
July 1 to June 30 thereafter.
	 
	 	G.	 	“Term”: A period of two (2) years commencing on June 1, 2009 (the “ Commencement
Date”) and, unless terminated early in accordance with this Lease, ending at 11:59 PM,
Boston Time on May 31, 2011 (the “Termination Date”). Notwithstanding the foregoing,
if the Termination Date shall fall on other than the last day of a calendar month, said
Termination Date shall be deemed to be the last day of the calendar month in which said
Termination Date occurs.

Bear Hill Business Park, Waltham, Massachusetts

April 16, 2009

1

 

	 	 	 	Landlord will use reasonable efforts to substantially complete the Landlord Work on or
before the Commencement Date. Landlord’s failure to Substantially Complete the Landlord Work
by the Commencement Date shall not be a default by Landlord or otherwise render Landlord
liable for damages.
	 
	 	H.	 	Tenant allowance(s): NONE.
	 
	 	I.	 	“Security Deposit”: $ 12,321.50
	 
	 	J.	 	“Guarantor(s)”: Not Applicable
	 
	 	K.	 	“Broker(s)”: DTZ FHO Partners/CB Richard Ellis/ New England.
	 
	 	L.	 	“Permitted Use”: General Office Use
	 
	 	M.	 	“Notice Addresses”:
	 
	 	 	 	On and after the Commencement Date, notices shall be sent to Tenant at the Premises. Prior
to the Commencement Date, notices shall be sent to Tenant at the following address:

	 	 	 	 	 
	 

	 	Tenant:
	 	          With a copy to:
	 

	 	OXiGENE, Inc.
	 	OXiGENE, Inc.
	 

	 	230 Third Avenue
	 	230 Third Avenue
	 

	 	Waltham, MA 02451
	 	Waltham, MA 02451
	 

	 	Attn: James Murphy, VP & CFO
	 	Attn: Contracts Department
	 
	 	 	 	 
	 

	 	Landlord:
	 	          With a copy to:
	 

	 	King Waltham LLC
	 	Goulston & Storrs
	 

	 	c/o King Street Properties
	 	400 Atlantic Avenue
	 

	 	101 Huntington Avenue, 9th Floor
	 	Boston, MA 02110
	 

	 	Boston, MA 02199	 	 
	 

	 	Attn: Thomas Ragno
	 	Attn: Jordan Krasnow, Esq.

Rent (defined in Section IV.A) is payable to the order of King Waltham LLC at the following
address:

	 	 	 	 	 
	 

	 	By U.S. Mail
	 	Wire or ACH
	 
	 	 	 	 
	 

	 	King Waltham LLC
	 	King Waltham LLC
	 

	 	P.O. Bos 840309
	 	Lockbox Account No. 004609771451
	 

	 	Dallas, TX 75284-0309
	 	Bank of America
	 

	 	 	 	ABA for AHC is 011000138
	 

	 	 	 	ABA for wire transfer is 026009593

Bear Hill Business Park, Waltham, Massachusetts

OXIGENE, Inc.

4/16/2009

2

 

	 	N.	 	“Business Day(s)” are Monday through Friday of each week, exclusive of New Year’s Day,
Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day (“Holidays”).
Landlord may designate additional Holidays, provided that the additional Holidays are
commonly recognized by other office buildings in the area where the Building is located.
Notwithstanding, Tenant shall have access to the Premises, twenty-four (24) hours per day,
seven days (7) per week, including Holidays.
	 
	 	O.	 	“Landlord Work” means that prior to the Commencement Date Landlord, at its cost and
expense, will perform the following work and modifications to the Premises:

	 	•	 	Landlord will furnish and install one (1) standard kitchen sink with hot and
cold water within the existing kitchenette;
	 
	 	•	 	Landlord will install a submeter to measure electricity consumed in the
Tenant’s Premises;
	 
	 	•	 	Landlord will steam clean the carpet.

	 	P.	 	“Law(s)” means all applicable statutes, codes, ordinances, orders, rules and
regulations of any municipal, or governmental entity.
	 
	 	Q.	 	“Normal Business Hours” for the Building are 8:00 A.M. to 6:00 P.M. on Business Days,
Monday through Friday, and 8:00 A.M. to 1:00 P.M. on Saturdays. Notwithstanding, Tenant
shall have access to the Premises, twenty four (24) hours per day, seven (7) days per
week, including Holidays.
	 
	 	R.	 	“Property” means the Building and the parcel(s) of land on which it is located and, at
Landlord’s discretion, the Building garage and other improvements serving the Building, if
any, and the parcel(s) of land on which they are located.
	 
	 	S.	 	(1) “Environmental Laws” as used herein means all federal, state, and local laws,
regulations, orders, permits, ordinances or other requirements, which exist now or as may
exist hereafter, concerning protection of human health, safety and the environment, all as
may be amended from time to time including, without limitation, the Comprehensive
Environmental Response, Compensation and Liability Act, 42 U.S.C.
9601 et seq. (“CERCLA”)
and the Resource Conservation and Recovery Act, 42 U.S.C. 6901 et seq. (“RCRA”).

(2) “Hazardous Materials” as used herein means any hazardous or toxic substance, material,
chemical, pollutant, contaminant or waste as those terms are defined by any applicable
Environmental Laws and any solid wastes, polychlorinated biphenyls, urea formaldehyde,
asbestos, radioactive materials, radon, explosives, petroleum products and oil.

Bear Hill
Business Park, Waltham, Massachusetts

OXIGENE, Inc.

4/16/2009

3

 

II.
Lease Grant.

          Landlord leases the Premises to Tenant and Tenant leases the Premises from Landlord, together
with the right in common with others to use any portions of the Property that are designated from
time to time by Landlord for the common use of tenants and others, such as sidewalks, common
corridors, elevator foyers, restrooms, vending areas and lobby areas (the “Common Areas”) and the
common parking area adjacent to the Building for unreserved, unassigned parking of not more than
ten (10) cars for Lessee’s staff, employees or business invitees, in common with all others
lawfully entitled to the use thereof. Parking of any trailers, trucks, motor homes, or
unregistered vehicles in the parking lots is prohibited.

III. Adjustment of Commencement Date; Possession.

	 	A.	 	Subject to Landlord’s obligation, if any, to perform Landlord Work and Landlord’s
obligations under Section IX.B., the Premises are accepted by Tenant in “as is” condition
and configuration. By taking possession of the Premises, Tenant agrees that the Premises
are in good order and satisfactory condition, and that there are no representations or
warranties by Landlord regarding the condition of the Premises or the Building. If
Landlord is delayed delivering possession of the Premises or any other space due to the
holdover or unlawful possession of such space by any party, Landlord shall use
reasonable efforts to obtain possession of the space. If the Commencement Date shall be
postponed by both parties’ mutual written consent until a further date, the Termination
Date, at the option of Landlord, may be postponed by an equal number of days.
	 
	 	B.	 	If Tenant with Landlord’s written approval, takes possession of the Premises before
the Commencement Date, such possession shall be subject to the terms and conditions of this
Lease and Tenant shall pay Rent (defined in Section IV.A.) to Landlord for each day of
possession before the Commencement Date. However, except for the cost of services
requested by Tenant (e.g. freight elevator usage), Tenant will, upon notice to Landlord, be
permitted to take possession of the Premises during the thirty (30) day period prior to the
Commencement Date. Tenant shall not be required to pay Rent for any days of
possession before the Commencement Date provided that Tenant is in possession of the
Premises for the sole purpose of installing furniture, cabling, equipment or other personal property.

IV. Rent.

	 	A.	 	Payments. As consideration for this Lease, Tenant shall pay Landlord, without
any setoff or deduction, except as set forth is Section VII. B. the total amount of Base
Rent and Additional Rent due for the Term. “Additional Rent” means all sums (exclusive of
Base Rent) that Tenant is required to pay Landlord. Additional Rent and Base Rent are
sometimes collectively referred to as “Rent”. Tenant shall pay and be liable for all
rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured
by Rent under applicable Law. Base Rent and recurring monthly charges of Additional Rent
shall be due and payable in advance on the first day of each calendar month without

Bear Hill Business Park, Waltham, Massachusetts

OXIGENE, Inc.

4/16/2009

4

 

	 	 	 	notice or demand. All other items of Rent shall be due and payable by Tenant on or before
30 days of receipt of Landlord’s invoice. All payments of Rent shall be by good and
sufficient check or by other means (such as automatic debit or electronic transfer)
acceptable to Landlord. If Tenant fails to pay any item or installment of Rent when due,
Tenant shall pay Landlord interest on the unpaid balance for each month or fraction thereof
from the due date until paid computed at the lesser of the maximum legally permissible rate
by law or the annual rate of five percentage points over the prime rate (as published in
the Wall Street Journal the first of each month), provided that Tenant shall be entitled to
a grace period of 5 days for the first 2 late payments of Rent in a given calendar year. If
the Term commences on a day other than the first day of a calendar month or terminates on a
day other than the last day of a calendar month, the monthly Base Rent and Tenant’s Pro
Rata Share of any Tax Excess (defined in Section IV.B.) or Expense Excess (defined in
Section IV.B.) for the month shall be prorated based on the number of days in such calendar
month. Landlord’s acceptance of less than the correct amount of Rent shall be considered a
payment on account of the earliest Rent due. No endorsement or statement on a check or
letter accompanying a check or payment shall be considered an accord and satisfaction, and
either party may accept the check or payment without prejudice to that party’s right to
recover the balance or pursue other available remedies. Tenant’s covenant to pay Rent is
independent of every other covenant in this Lease, except as set forth in Section VII. B.
	 
	 	B.	 	Expense Excess and Tax Excess. Tenant shall pay Tenant’s Pro Rata Share of the
amount, if any, by which Expenses (defined in Section IV.C.) for each calendar year during
the Term exceed Expenses for the Base Year (the “Expense Excess”) and also the amount, if
any, by which Taxes (defined in Section IV.D.) for each Fiscal Year during the Term exceed
Taxes for the Base Year (the “Tax Excess”). If Expenses and/or Taxes in any calendar year
or Fiscal Year decrease below the amount of Expenses and/or Taxes for the Base Year,
Tenant’s Pro Rata Share of Expenses and/or Taxes, as the case
may be, for that calendar year
or Fiscal Year shall be $0. Landlord shall provide Tenant with a good faith estimate of the
Expense Excess and of the Tax Excess for each calendar year or Fiscal Year during the Term.
On or before the first day of each month, Tenant shall pay to Landlord a monthly
installment equal to one-twelfth of Tenant’s Pro Rata Share of Landlord’s estimate of the
Expense Excess and one-twelfth of Tenant’s Pro Rata Share of Landlord’s estimate of the Tax
Excess. If Landlord determines that its good faith estimate of the Expense Excess or of the
Tax Excess was incorrect by a material amount, Landlord may provide Tenant with a revised
estimate. After its receipt of the revised estimate, Tenant’s monthly payments shall be
based upon the revised estimate. If Landlord does not provide Tenant with an estimate of
the Expense Excess by January 1 of a calendar year, or the Tax Excess by the start of each
new Fiscal Year, Tenant shall continue to pay monthly installments based on the previous
calendar year’s or Fiscal Year’s estimate(s), as the case may be, until Landlord provides
Tenant with the new estimate. Upon delivery of the new estimate, an adjustment shall be
made for any month for which Tenant paid monthly installments based on the previous
calendar or Fiscal Year’s estimate(s). Tenant shall pay Landlord the amount of any
underpayment within 30 days after receipt of the

Bear Hill
Business Park, Waltham, Massachusetts

OXIGENE, Inc.

4/16/2009

5

 

	 	 	 	new estimate. Any overpayment shall be credited against the next due future
installment(s) of Additional Rent.
	 
	 	 	 	As soon as is practical following the end of each calendar year or Fiscal Year, as the case
may be, Landlord shall furnish Tenant with a statement of the actual Expenses and Expense
Excess and the actual Taxes and Tax Excess for the prior calendar year or Fiscal Year, as
the case may be. If the estimated Expense Excess and/or estimated Tax Excess for the prior
calendar year or Fiscal Year, as the case may be, is more than the actual Expense Excess
and/or actual Tax Excess for the prior calendar year or Fiscal Year, as the case may be,
Landlord shall apply any overpayment by Tenant against Additional Rent due or next becoming
due, provided if a) the Tenant is not in default of the Lease, and b) the Term expires
before the determination of the overpayment, Landlord shall refund any overpayment to Tenant
after first deducting the amount of Rent due. If the estimated Expense Excess and/or
estimated Tax Excess for the prior calendar year or Fiscal Year, as the case may be, is less
than the actual Expense Excess and/or actual Tax Excess for such prior calendar year or
Fiscal Year, as the case may be, Tenant shall pay Landlord, within 30 days after Tenant’s
receipt of the statement of actual Expenses and/or Taxes and of an invoice for, any
underpayment for the prior calendar year. Any obligations under this Article IV which have
not been paid at the expiration or sooner termination of the term of this Lease, shall
survive such expiration and shall be paid when and as the amount of same shall be determined
to be due.
	 
	 	C.	 	Expenses Defined. “Expenses” means all costs and expenses incurred in each
calendar year in connection with operating, maintaining, repairing, and managing the
Building and the Property, including, but not limited to:

	 	1.	 	Labor costs, including, wages, salaries, social security and employment taxes,
medical
and other types of insurance, uniforms, training, and retirement and pension plans.
	 
	 	2.	 	Management fees, the cost of equipping and maintaining a management office,
accounting and bookkeeping services, legal fees not attributable to leasing or
collection activity, and other administrative costs. Landlord, by itself or through an
affiliate, shall have the right to directly perform or provide any services under this
Lease, including management services.
	 
	 	3.	 	The cost of services, including amounts paid to service providers and the
rental and
purchase cost of parts, supplies, tools and equipment.
	 
	 	4.	 	Premiums and deductibles paid by Landlord for insurance, including
workers
compensation, fire and extended coverage, earthquake, general liability, rental loss,
elevator, boiler and other insurance customarily carried from time to time by owners
of comparable office and/or research and development buildings.

Bear Hill Business Park, Waltham, Massachusetts

OXIGENE, Inc.

4/16/2009

6

 

	 	5.	 	Electrical Costs (defined below) and charges for water, gas, steam and sewer, but
excluding those charges for which Landlord is reimbursed by tenants (other than by
payment of any tenant’s share of Expenses as set forth herein) “Electrical Costs”
means: (a) charges paid by Landlord for electricity; (b) costs incurred in connection
with an energy management program for the Property; and (c) if and to the extent
permitted by Law, a fee for the services provided by Landlord in connection with the
selection of utility companies and the negotiation and administration of contracts for
electricity, provided that such fee shall not exceed 50% of any savings obtained by
Landlord. Electrical Costs shall be adjusted as follows: (i) amounts received by
Landlord from other tenants as reimbursement for above standard electrical
consumption shall be deducted from Electrical Costs; (ii) the cost of electricity
incurred to provide overtime HVAC
to specific tenants (as reasonably estimated by Landlord) shall be deducted from
Electrical Costs; and (iii) if Tenant is billed directly for the cost of building
standard electricity to the Premises as a separate charge in addition to Base Rent, the
cost of electricity to individual tenant spaces in the Building shall be deducted from
Electrical Costs.
	 
	 	6.	 	The amortized cost of capital improvements (as distinguished from items of
capital
repair or replacement parts or components installed in the ordinary course of
business) made to the Property which are: (a) performed primarily to reduce
operating expense costs or otherwise improve the operating efficiency of the Property;
or (b) required to comply with any Laws that are enacted, or first interpreted to apply
to the Property, after the date of this Lease. The cost of capital improvements shall be
amortized by Landlord over the useful life of the capital improvement. “Payback
Period” means the reasonably estimated period of time that it takes for the cost savings
resulting from a capital improvement to equal the total cost of the capital improvement.

If Landlord incurs Expenses for the Property together with one or more other buildings or
properties, whether pursuant to a reciprocal easement agreement, common area agreement or
otherwise, the shared costs and expenses shall be equitably prorated and apportioned by
Landlord in its reasonable discretion between the Property and the other buildings or
properties.

Expenses
shall not include: the cost of capital improvements (except as set forth above);
depreciation; interest (except as provided above for the amortization of capital
improvements); principal payments of mortgage and other non-operating debts of Landlord; the
cost of repairs or other work to the extent Landlord is reimbursed by insurance or
condemnation proceeds; costs in connection with leasing space in the Building, including
brokerage commissions; lease concessions, including rental abatements and construction
allowances, granted to specific tenants; costs incurred in connection with the sale,
financing or refinancing of the Building; fines, interest and penalties incurred due to the
late payment of Taxes (defined in Section IV.D) or Expenses; organizational expenses
associated with the creation and operation of the entity which constitutes Landlord; or any
penalties or damages that Landlord pays to Tenant under this Lease or to other tenants in
the Building under their respective leases.

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	 	 	 	If the Building is not at least 95% occupied during any calendar year or if Landlord is not
supplying services to at least 95% of the total Rentable Square Footage of the Building at
any time during a calendar year, Expenses shall, be determined as if the Building had been
95% occupied and Landlord had been supplying services to 95% of the Rentable Square Footage
of the Building during that calendar year. If Tenant pays for its Pro Rata Share of
Expenses based on increases over a “Base Year” and Expenses for a calendar year are
determined as provided in the prior sentence, Expenses for the Base Year shall also be
determined as if the Building had been 95% occupied and Landlord had been supplying
services to 95% of the Rentable Square Footage of the Building. The extrapolation of
Expenses under this Section shall be performed by appropriately adjusting the cost of those
components of Expenses that are impacted by changes in the occupancy of the Building.
	 
	 	D.	 	Taxes Defined. “Taxes” shall mean: (1) all real estate taxes, betterment
assessments, and other assessments on the Building and/or Property, including, but not
limited to, assessments for special improvement districts and building improvement
districts, taxes and assessments levied in substitution or supplementation in whole or in
part of any such taxes and assessments and the Property’s share of any real estate taxes
and assessments under any reciprocal easement agreement, common area agreement or similar
agreement as to the Property; (2) all personal property taxes for property that is owned by
Landlord and used in connection with the operation, maintenance and
repair of the Property;
and (3) all costs and fees incurred in connection with seeking reductions in any tax
liabilities described in (1) and (2), including, without limitation, any costs incurred by
Landlord for compliance, review and appeal of tax liabilities. Without limitation, Taxes
shall not include any income, capital levy, franchise, capital stock, gift, estate or
inheritance tax. If an assessment is payable in installments, Taxes for the year shall
include the amount of the installment and any interest due and payable during that year.
For all other real estate taxes, Taxes for that year shall, at Landlord’s election, include
either the amount accrued, assessed or otherwise imposed for the year or the amount due and
payable for that year, provided that Landlord’s election shall be applied consistently
throughout the Term. If a change in Taxes is obtained for any year of the Term during which
Tenant paid Tenant’s Pro Rata Share of any Tax Excess, then Taxes for that year will be
retroactively adjusted and Landlord shall provide Tenant with a credit, if any, based on
the adjustment. Likewise, if a change is obtained for Taxes for the Base Year, Taxes for
the Base Year shall be restated and the Tax Excess for all subsequent years shall be
recomputed. Tenant shall pay Landlord the amount of Tenant’s Pro Rata Share of any such
increase in the Tax Excess within 30 days after Tenant’s receipt of a statement from
Landlord.

V. Compliance with Laws; Use; Hazardous Materials.

a) The Premises shall be used only for the Permitted Use and for no other use
whatsoever. Tenant shall not use or permit the use of the Premises for any purpose which

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is illegal, dangerous to persons or property or which, in Landlord’s reasonable opinion,
unreasonably disturbs any other tenants of the Building or interferes with the operation of
the Building. Tenant shall not bring or permit to be brought or kept in or on the Leased
Premises or elsewhere on the Property any Hazardous Materials or toxic, inflammable,
combustible or explosive fluid, material, chemical or substance (except such as are related
to Tenant’s use of the Leased Premises in the ordinary course of business, provided that
the same are stored and handled in a proper fashion consistent with applicable legal
standards, including without limitation any direction from the fire marshal or any other
state or local fire prevention official). Tenant may, with Landlord’s prior written
consent, which shall not be unreasonably withheld, install at its own cost and expense
hot/cold water fountains and/or sinks, coffee makers, microwaves, and refrigerator,
provided that no cooking or frying, which would require special exhaust venting, will be
carried on in the premises. Tenant acknowledges that the Building is not engineered to
provide any such special venting. Tenant shall comply with all Laws, including the
Americans with Disabilities Act, regarding the operation of Tenant’s business and the use,
condition, configuration and occupancy of the Premises. Tenant, within 10 days after
receipt, shall provide Landlord with copies of any notices it receives regarding a
violation or alleged violation of any Laws. Tenant shall reimburse and compensate Landlord
for all expenditures made by, or damages or fines sustained or incurred by, Landlord due to
any violations of Laws by Tenant or any Tenant Related Parties with respect to the
Premises. Tenant shall comply with the rules and regulations of the Building attached as
Exhibit B and such other reasonable rules and regulations adopted by Landlord from time to
time. Tenant shall also cause its agents, contractors, subcontractors, employees,
customers, and subtenants to comply with all rules and regulations. Landlord shall not
knowingly discriminate against Tenant in Landlord’s enforcement of the rules and
regulations.

b) Tenant shall comply with all applicable Environmental Laws and shall not generate,
manufacture, produce, store, dispose or release on, under, about or from the Leased
Premises, any Hazardous Materials in a manner that is in violation of federal, state or
local laws and regulations. Tenant shall fully and promptly comply with all Environmental
Laws at all times during the Term. Tenant agrees to indemnify Landlord for any and all
costs, loss or damage incurred by Landlord resulting from a release, discharge or any other
violation of applicable Environmental Laws caused by Tenant in connection with its use of
the Leased Premises or any other violation of the obligations set forth in this Paragraph.

	VI.	 	Security Deposit.

          Upon execution of this Lease by Tenant, the Security Deposit shall be delivered to Landlord by
means of a check made payable to King Waltham LLC, and shall be held by Landlord as security for
the performance of Tenant’s obligations. The Security Deposit is not an advance payment of Rent or
a measure of Tenant’s liability for damages. Landlord may, from time to time, without prejudice to
any other remedy, use all or a portion of the Security Deposit

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to satisfy past due Rent or to cure any uncured default by Tenant. If Landlord uses the Security
Deposit, Tenant shall on demand restore the Security Deposit to its original amount. Landlord
shall return any unapplied portion of the Security Deposit to Tenant within 45 days after the
latest to occur of: (1) the determination of Tenant’s Pro Rata Share of any Tax Excess and Expense
Excess for the final year of the Term; (2) the date Tenant surrenders possession of the Premises
to Landlord in accordance with this Lease; or (3) the Termination Date. If Landlord transfers its
interest in the Premises, Landlord may assign the Security Deposit to the transferee and,
following the assignment, Landlord shall have no further liability for the return of the Security
Deposit. Landlord shall not be required to keep the Security Deposit separate from its other
accounts.

	VII.	 	Services to be Furnished by Landlord.

	 	A.	 	Landlord agrees to furnish Tenant with the following services: (1) Hot and cold water
service for use in the lavatories on each floor on which the Premises are located; (2)
Heat and air conditioning during normal heating and air-conditioning seasons during Normal
Business Hours on Business Days, at such temperatures and in such amounts as are standard
for comparable buildings or as required by governmental authority. Tenant, upon such
advance notice as is reasonably required by Landlord, shall have the right to receive HVAC
service during hours other than Normal Business Hours. Tenant shall pay Landlord the
standard charge of $50.00 per hour during the initial lease term for the additional HVAC
service and as reasonably determined by Landlord from time to time thereafter; (3)
Maintenance and repair of the Property as described in Section IX.B.; (4) Janitor service
on Business Days. If Tenant’s use, floor covering or other improvements require special
services in excess of the standard services for the Building, Tenant shall pay the
additional cost attributable to the special services; (5) Elevator service; (6) trash and
snow removal (7) Electricity for building common areas,: (8) Electricity to the Premises
for general office use, in accordance with and subject to the terms and conditions in
Article X; (9) exterior grounds maintenance, (10) management services and (10) such other
services as Landlord reasonably determines are necessary or appropriate for the Property.
	 
	 	B.	 	Landlord’s failure to furnish, or any interruption or termination of, services due to the
application of Laws, the failure of any equipment, the performance of repairs, improvements or
alterations, or the occurrence of any event or cause beyond the reasonable control of Landlord
(a “Service Failure”) shall not render Landlord liable to Tenant, constitute a constructive
eviction of Tenant, give rise to an abatement of Rent, nor relieve Tenant from the obligation
to fulfill any covenant or agreement. In no event, shall Landlord be liable to Tenant for any
loss or damage, including the theft of Tenant’s Property (defined in Article XV), arising out
of or in connection with the failure of any security services, personnel or equipment.
Notwithstanding the foregoing, if any essential utility or service that Landlord is required
by this Lease to supply (or that is delivered through facilities or equipment within the
limits of the Landlord’s property) to the Premises is interrupted due to the negligent or
intentional and wrongful act or omission of

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Landlord, and such interruption of essential services or utilities renders the Premises
untenantable for business operations, Tenant shall immediately give Landlord notice
thereof. If Tenant actually discontinues operations within the Premises solely as a result
of such interruption and untenantability then, so long as such interruption and
untenantability shall continue, payment of Base Rent shall abate until such time as such
utility or service has been restored or the Premises are rendered tenantable. Landlord
shall use due diligence following receipt of Tenant’s notice to cause such restoration
without unreasonable delay. Without limiting the first sentence hereof, the foregoing shall
in no event be applicable to any interruption that is the result of fire or other casualty,
or from any other cause beyond the reasonable control of Landlord.

	 	C.	 	In the event Tenant requires additional air conditioning for business equipment,
meeting rooms or other special purposes, or because of occupancy or excess electrical
loads, any additional air conditioning units, chillers, condensers, compressors, ducts,
piping and other equipment will be installed and maintained by the Landlord at Tenant’s
sole cost and expense, provided that, in Landlord’s reasonable judgment, the installation
of the additional equipment will not create an adverse effect on the building or disturb
other tenants. Tenant shall also reimburse Landlord for costs incurred in operating such
supplemental air conditioning equipment. Landlord acknowledges that Tenant will require
supplemental HVAC in the existing server room and, subject to Landlord’s review and
approval of the specifications for the proposed equipment, Landlord agrees that Tenant may
install and maintain such supplemental HVAC at Tenant’s sole cost and expense, as more
fully described above.

	VIII.	 	Leasehold Improvements.

          All improvements to the Premises (collectively, “Leasehold Improvements”), with the exception
of Tenant’s supplemental HVAC system, shall be owned by Landlord and shall remain upon the Premises
without compensation to Tenant. However, Landlord, by written notice to Tenant not later than 30
days prior to the Termination Date, may require Tenant to remove, at Tenant’s expense: any
Leasehold Improvements that are performed by or for the benefit of Tenant and, in Landlord’s
reasonable judgment, are of a nature that would require removal and repair costs that are
materially in excess of the removal and repair costs associated with standard office improvements
(collectively referred to as “Required Removables”), with the exception of Tenant’s supplemental
HVAC in Tenant’s server room, which may be removed at Tenant’s sole discretion. Without limitation,
it is agreed that Required Removables include internal stairways, raised floors, personal baths and
showers, vaults, rolling file systems and structural alterations and modifications of any type
(except Cable, defined in Section IX.A.). The Required Removables designated by Landlord shall be
removed by Tenant before the Termination Date, provided that upon prior written notice to Landlord,
given no later than twenty (20) days prior to the Termination Date, Tenant may remain in the
Premises for up to five (5) days after the Termination Date for the sole purpose of removing the
Required Removables. Tenant’s possession of the Premises shall be subject to all of the terms and
conditions of this Lease, including the obligation to pay Rent on a per diem basis at the rate in
effect for the last month of

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the Term. Tenant shall repair damage caused by the installation or removal of Required Removables.
If Tenant fails to remove any Required Removables or perform related repairs in a timely manner,
Landlord, at Tenant’s expense, may remove and dispose of the Required Removables and perform the
required repairs. Tenant, within 30 days after receipt of an invoice sent not later than sixty
(60) days of Tenant vacating the Premises, shall reimburse Landlord for the reasonable costs
incurred by Landlord.

	IX.	 	Repairs and Alterations.

	 	A.	 	Tenant’s Maintenance and Repair Obligations. Tenant shall, at its sole cost and
expense, promptly perform all maintenance and repairs to the Premises that are not Landlord’s
express responsibility under this Lease, and shall keep the Premises in good condition and
repair, reasonable wear and tear and damage by fire and casualty excepted. Tenant’s
repair obligations include, without limitation, repairs to: (1) floor covering; (2) interior
partitions; (3) doors; (4) the interior side of demising walls; (5) electronic, phone and
data cabling and related equipment (collectively, “Cable”) that is installed by or for the
exclusive benefit of Tenant and located in the Premises or other portions of the Building;
(6) supplemental air conditioning units, private showers and kitchens, including hot water
heaters, plumbing, and similar facilities serving Tenant exclusively; and (7) Alterations
performed by contractors retained by Tenant, including related HVAC balancing. Tenant
shall be responsible for providing and maintaining approved labeled fire extinguishers
within the demised premises as recommended by the Fire Insurance or Fire Protection
authorities. All work shall be performed in accordance with the rules and procedures
described in Section IX.C. below. If Tenant fails to commence making any repairs to the
Premises for more than 30 days after notice from Landlord (although notice shall not be
required if there is an emergency), or to make repairs within 45 days of notice from
Landlord, Landlord may make the repairs, and Tenant shall pay the reasonable cost of the
repairs to Landlord within 30 days after receipt of an invoice together with an
administrative charge in an amount equal to 10% of the cost of the repairs.
	 
	 	B.	 	Landlord’s Repair Obligations. Landlord shall keep and maintain in good repair
and working order and make repairs to and perform maintenance upon: (1) structural elements
of the Building; (2) mechanical (including HVAC), electrical, plumbing and fire/life
safety systems serving the Building in general; (3) Common Areas; (4) the roof of the
Building; (5) exterior windows of the Building; and (6) elevators serving the Building.
Landlord shall promptly make repairs (considering the nature and urgency of the repair)
for which Landlord is responsible. In addition, Landlord may elect, at the expense of
Tenant, to repair any damage or injury to the Building caused by moving property of
Tenant in or out of the Building, or by installation or removal of furniture or other
property, or by misuse by, neglect or improper conduct of Tenant or any Tenant Related
Parties (hereinafter defined).
	 
	 	C.	 	Alterations. Tenant shall not make alterations, additions or improvements to the
Premises or install any Cable in the Premises or other portions of the Building
(collectively referred to as “Alterations”) without first obtaining the written consent of

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Landlord in each instance, which consent shall not be unreasonably withheld or delayed
provided that the proposed alternations, additions or improvements will not affect the
building structure or its systems. However, Landlord’s consent shall not be required for any
Alteration that satisfies all of the following criteria (a “Cosmetic Alteration”): (1) is of
a cosmetic nature such as painting, wallpapering, hanging pictures; (2) is not visible from
the exterior of the Premises or Building; (3) will not affect the systems or structure of
the Building; and (4) does not require work to be performed inside the walls or above the
ceiling of the Premises However, even though consent is not required, the performance of
Cosmetic Alterations shall be subject to all the other provisions of this Section IX.C. and
Tenant will provide notice to Landlord of any work to be performed for which a building
permit from the City of Waltham is required. Prior to starting work, Tenant shall furnish
Landlord with plans and specifications reasonably acceptable to Landlord; names of
contractors reasonably acceptable to Landlord (provided that Landlord may designate specific
contractors with respect to Building systems); copies of contracts; necessary permits and
approvals; evidence of contractor’s and subcontractor’s insurance in amounts reasonably
required by Landlord; and any security for performance that is reasonably required by
Landlord. Tenant agrees that it will not use any contractors (directly or indirectly) and/or
materials if their use will create any difficulty, whether in the nature of a labor dispute
or otherwise with other contractors and/or labor engaged by Tenant or Landlord or others in
the construction, maintenance, and/or operation of the building or any part thereof. Changes
to the plans and specifications must also be submitted to Landlord for its approval.
Alterations shall be constructed in a good and workmanlike manner using materials of a
quality that is at least equal to the quality designated by Landlord as the minimum standard
for the Building. Landlord may designate reasonable rules, regulations and procedures for
the performance of work in the Building and, to the extent reasonably necessary to avoid
disruption to the occupants of the Building, shall have the right to designate the time when
Alterations may be performed. Tenant shall reimburse Landlord within 30 days after receipt
of an invoice for sums paid by Landlord for third party examination of Tenant’s plans for
non-Cosmetic Alterations. In addition, within 30 days after receipt of an invoice from
Landlord, Tenant shall pay Landlord a fee for Landlord’s oversight and coordination of any
non-Cosmetic Alterations (not including the installation of Tenant’s supplemental HVAC
system in Tenant’s server room) equal to 10% of the cost of the non-Cosmetic Alterations.
Upon completion, Tenant shall furnish “as-built” plans (except for Cosmetic Alterations),
completion affidavits, full and final waivers of lien and receipted bills covering all labor
and materials. Tenant shall assure that the Alterations comply with all insurance
requirements and Laws. Landlord’s approval of an Alteration shall not be a representation by
Landlord that the Alteration complies with applicable Laws or will be adequate for Tenant’s
use. Tenant shall pay, as an additional charge, the entire increase in real estate taxes on
the Building which shall, at any time prior to or after the Commencement Date, result from
or be attributable to any alteration, addition or improvement to the Premises made by or for
the account of Tenant in excess of the Building Standard improvements for the Building.

	X.	 	Use of Electrical Services by Tenant.

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	 	A.	 	Tenant acknowledges that the cost of providing electricity to the Premises, other
than for heating, ventilating and air conditioning base building equipment serving the
Premises, is not included in Base Rent. Landlord, at Landlord’s cost and expense, will
install a sub-meter to measure the consumption of electricity within the Tenant’s Premises
(“Tenant Electric Sub Meter”). Landlord will bill Tenant a separate monthly charge payable
by Tenant to reimburse Landlord for electricity costs based on Tenant’s actual electrical
usage as determined by the Tenant Electric Sub- Meter.
	 
	 	 	 	Electrical service to the Premises may be furnished by one or more companies providing
electrical generation, transmission and distribution services, and the cost of electricity
may consist of several different components or separate charges for such services, such as
generation, distribution and stranded cost charges. Landlord shall have the exclusive right
to select any company providing electrical service to the Premises, to aggregate the
electrical service for the Property and Premises with other buildings, to purchase
electricity through a broker and/or buyers group and to change the providers and manner of
purchasing electricity. If by negotiation of special contract rates, Landlord is able to
reduce the cost of electricity delivered to the Building, Landlord shall be entitled to
receive a fee (if permitted by Law) for the selection of utility companies and/or the
negotiation and administration of contracts for electricity, provided that the amount of
such fee shall not exceed a total of $1,000.00 over the initial term of the Lease.
	 
	 	B.	 	Tenant’s use of electrical service shall not exceed, either in voltage, rated
capacity, use beyond Normal Business Hours or overall load, that which Landlord deems to
be standard for the Building. If Tenant requests permission to consume excess electrical
service, Landlord may refuse to consent or may condition consent upon conditions that
Landlord reasonably elects (including, without limitation, the installation of utility
service upgrades, meters, sub-meters, air handlers or cooling units), and the additional
usage (to the extent permitted by Law), installation and maintenance costs shall be paid
by Tenant. Landlord shall have the right at any time to separately meter electrical usage
for the Premises and to measure electrical usage by survey or other commonly accepted
methods.

	XI.	 	Entry by Landlord.

          Landlord, its agents, contractors and representatives may enter the Premises to inspect or
show the Premises, to clean and make repairs, alterations or additions to the Premises, and to
conduct or facilitate repairs, alterations or additions to any portion of the Building, including
other tenants’ premises. Except in emergencies or to provide janitorial and other Building services
after Normal Business Hours, Landlord shall provide Tenant with reasonable prior notice of entry
into the Premises, which may be given orally. If reasonably necessary for the protection and safety
of Tenant and its employees, Landlord shall have the right to temporarily close all or a portion of
the Premises to perform repairs, alterations and additions. However, except in emergencies,
Landlord will not close the Premises if the work can reasonably be completed on weekends and after
Normal Business Hours. Entry by Landlord shall not constitute constructive eviction or entitle
Tenant to an abatement or reduction of Rent. Landlord reserves

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the right, during the last six (6) months of the lease term, to show the space to prospective
tenants and to keep affixed to the Leased Premises a notice for leasing or selling.

	XII.	 	Assignment and Subletting.

	 	A.	 	Except in connection with a Permitted Transfer and Additional Permitted Transfer
(defined in Section XII.D&E. below), Tenant shall not assign, sublease, transfer or
encumber any interest in this Lease or allow any third party to use any portion of the
Premises (collectively or individually, a “Transfer”) without the prior written consent of
Landlord, which consent shall not be unreasonably withheld if Landlord does not elect to
exercise its termination rights under Section XII.B Without limitation, it is agreed that
Landlord’s consent shall not be considered unreasonably withheld if: (1) the proposed
transferee’s financial condition does not meet the criteria Landlord then uses to select
Building tenants having similar leasehold obligations; (2) the proposed transferee’s
business is not suitable for the Building considering the business of the other tenants and
the Building’s prestige, or would result in a violation of another tenant’s rights; (3) the
proposed transferee is a governmental agency or occupant of the Building or another
neighboring building owned by the Landlord or any affiliate of Landlord; (4) Tenant is in
default after the expiration of the notice and cure periods in this Lease; (5) any portion
of the Building or Premises would likely become subject to additional or different Laws as
a consequence of the proposed Transfer; (6) Landlord has commenced negotiations, as
evidenced by an exchange of written proposals, with the proposed transferee for other space
in the Building or another neighboring building owned by the Landlord or (7) if involving
a sublease, the terms of the proposed sublease are more favorable to the sublessee than the
terms of this Lease. Tenant shall not be entitled to receive monetary damages based upon a
claim that Landlord unreasonably withheld its consent to a proposed Transfer and Tenant’s
sole remedy shall be an action to enforce any such provision through specific performance
or declaratory judgment. Any attempted Transfer in violation of this Article shall, at
Landlord’s option, be void. Consent by Landlord to one or more Transfer(s) shall not
operate as a waiver of Landlord’s rights to approve any subsequent Transfers. In no event
shall any Transfer or Permitted Transfer release or relieve Tenant from any obligation
under this Lease.
	 
	 	B.	 	In the event Tenant requests Landlord’s consent to a Transfer, Tenant shall provide
Landlord with financial statements for the proposed transferee, a complete copy of the
proposed form of assignment, sublease and other contractual documents and such other
information as Landlord may reasonably request. In the event Tenant proposes either to
assign this Lease or to enter into a sublease, Landlord, at Landlord’s option, may elect to
terminate the Lease with respect to the portion of the Premises that Tenant is proposing to
assign or sublet. Landlord shall, by written notice to Tenant within 30 days of its receipt
of the required information and documentation, either: (1) consent to the Transfer by the
execution of a consent agreement in a form reasonably designated by Landlord or reasonably
refuse to consent to the Transfer in writing; or (2) exercise its right to terminate this
Lease with respect to the portion of the Premises that Tenant is proposing

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to assign or sublet. Any such termination shall be effective on the proposed effective date
of the Transfer for which Tenant requested consent. Tenant shall reimburse Landlord for
Landlord’s actual reasonable costs and expenses (including reasonable attorney’s fees) in
connection with Landlord’s review of any Permitted Transfer or requested Transfer.

	 	C.	 	Tenant shall pay Landlord 50% of all rent and other consideration which Tenant receives
as a result of a Transfer that is in excess of the Rent payable to Landlord for the portion of
the Premises and Term covered by the Transfer. Tenant shall pay Landlord for Landlord’s
share of any excess within 30 days after Tenant’s receipt of such excess consideration.
Tenant may deduct from the excess all reasonable and customary expenses directly incurred
by Tenant attributable to the Transfer, including brokerage fees, legal fees and
construction costs. If Tenant is in Monetary Default (defined in Section XIX.A. below), Landlord may
require that all sublease payments be made directly to Landlord, in which case Tenant shall
receive a credit against Rent in the amount of any payments received (less Landlord’s share
of any excess).
	 
	 	D.	 	Except as provided below with respect to a Permitted Transfer and Additional Permitted
Transfer, if Tenant is a corporation, limited liability company, partnership, or similar
entity, and if the entity which owns or controls a majority of the voting shares/rights at
any time changes for any reason (including but not limited to a merger, consolidation or
reorganization), such change of ownership or control shall constitute a Transfer. Tenant
may assign its entire interest under this Lease to a successor to Tenant by said change in
ownership of voting shares/rights (a “Permitted Transfer”) provided all of the following
conditions are satisfied: (1) Tenant is not in default under this Lease; (2) Tenant’s
successor shall have a net worth which is at least equal to the greater of Tenant’s net
worth at the date of this Lease, or Tenant’s net worth as of the day prior to the proposed
purchase, merger, consolidation or reorganization and (3) Tenant shall give Landlord
written notice at least 30 days prior to the effective date of the proposed purchase,
merger, consolidation or reorganization. Tenant’s notice to Landlord shall include
information and documentation showing that each of the above conditions has been
satisfied. If requested by Landlord, Tenant’s successor shall sign a commercially
reasonable form of assumption agreement. The foregoing shall not apply so long as
Tenant is an entity whose outstanding stock is listed on a recognized security exchange,
or if at least 80% of its voting stock is owned by another entity, the voting stock of which
is so listed.
	 
	 	E.	 	Tenant may assign its entire interest under this Lease to a successor to Tenant by
purchase, merger, consolidation or reorganization without the consent of Landlord,
provided that all of the following conditions are satisfied (an “Additional Permitted
Transfer”): (1) Tenant is not in default under this Lease; (2) Tenant’s successor shall own
all or substantially all of the assets of Tenant; (3) Tenant’s successor shall have a net
worth which is at least equal to the greater of Tenant’s net worth at the date of this Lease
or Tenant’s net worth as of the day prior to the proposed purchase, merger, consolidation
or reorganization; (4) the Permitted Use does not allow the Premises to be used for retail
purposes; and (5) Tenant shall make commercially reasonable efforts to give Landlord

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written notice at least 30 days prior to the effective date of the proposed purchase,
merger, consolidation or reorganization. Tenant’s notice to Landlord shall include
information and documentation showing that each of the above conditions has been satisfied.
If requested by Landlord, Tenant’s successor shall sign a commercially reasonable form of
assumption agreement.

	XIII.	 	Liens.

          Tenant shall not permit mechanic’s or other liens to be placed upon the Property, Premises or
Tenant’s leasehold interest in connection with any work or service done or purportedly done by or
for benefit of Tenant. If a lien is so placed, Tenant shall, within 10 days of notice from
Landlord of the filing of the lien, fully discharge the lien by settling the claim which resulted
in the lien or by bonding or insuring over the lien in the manner prescribed by the applicable
lien Law. If Tenant fails to discharge the lien, then, in addition to any other right or remedy of
Landlord, Landlord may bond or insure over the lien or otherwise discharge the lien. Tenant shall
reimburse Landlord for any amount paid by Landlord to bond or insure over the lien or discharge
the lien, including, without limitation, reasonable attorneys’ fees (if and to the extent
permitted by Law) within 30 days after receipt of an invoice from Landlord.

	XIV.	 	Indemnity and Waiver of Claims.

	 	A.	 	Except to the extent caused by the negligence or willful misconduct of Landlord or
any Landlord Related Parties (defined below), and subject to applicable waivers of claims and
rights of subrogation, Tenant shall indemnify, defend and hold Landlord, its trustees,
members, principals, beneficiaries, partners, officers, directors, employees, Mortgagee(s)
(defined in Article XXVI) and agents (“Landlord Related Parties”) harmless against and
from all liabilities, obligations, damages, penalties, claims, actions, costs, charges and
expenses, including, without limitation, reasonable attorneys’ fees and other professional
fees (if and to the extent permitted by Law), which may be imposed upon, incurred by or
asserted against Landlord or any of the Landlord Related Parties and arising out of or in
connection with any damage or injury occurring in the Premises during the Lease Term or
any negligent acts or omissions (including violations of Law) of Tenant, the Tenant
Related Parties (defined below) or any of Tenant’s transferees, contractors or licensees.
	 
	 	B.	 	Except to the extent caused by the negligence or willful misconduct of Tenant or any
Tenant Related Parties (defined below), and subject to applicable waivers of claims and
rights of subrogation, Landlord shall indemnify, defend and hold Tenant, its trustees,
members, principals, beneficiaries, partners, officers, directors, employees and agents
(“Tenant Related Parties”) harmless against and from all liabilities, obligations, damages,
penalties, claims, actions, costs, charges and expenses, including, without limitation,
reasonable attorneys’ fees and other professional fees (if and to the extent permitted by
Law), which may be imposed upon, incurred by or asserted against Tenant or any of the
Tenant Related Parties and arising out of or in connection with the acts or omissions

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(including violations of Law) of Landlord, the Landlord Related Parties or any of
Landlord’s contractors.

	 	C.	 	Landlord and the Landlord Related Parties shall not be liable for, and Tenant waives,
all claims for loss or damage to Tenant’s business or loss, theft or damage to Tenant’s
Property or the property of any person claiming by, through or under Tenant resulting
from: (1) wind or weather; (2) the failure of any sprinkler, heating or air-conditioning
equipment, any electric wiring or any gas, water or steam pipes; (3) the backing up of any
sewer pipe or downspout; (4) the bursting, leaking or running of any tank, water closet,
drain or other pipe; (5) water, snow or ice upon or coming through the roof, skylight,
stairs, doorways, windows, walks or any other place upon or near the Building; (6) any act
or omission of any party other than Landlord or Landlord Related Parties; and (7) any
causes not reasonably within the control of Landlord. Tenant shall insure itself against
such losses under Article XV below.

	XV.	 	Insurance.

          Tenant shall carry and maintain the following insurance (“Tenant’s Insurance”), at its sole
cost and expense: (1) Commercial General Liability Insurance applicable to the Premises and its
appurtenances providing, on an occurrence basis, a minimum combined single limit of $3,000,000.00
for bodily or personal injury or damage to property; (2) “Special Form” Property/Business
Interruption Insurance, including flood and earthquake, written at replacement cost value and with
a replacement cost endorsement covering all of Tenant’s trade fixtures, equipment, furniture not
owned by the Landlord, and other personal property within the Premises (“Tenant’s Property”); (3)
Workers’ Compensation Insurance as required by the state in which the Premises is located and in
amounts as may be required by applicable statute; and (4) Employers Liability Coverage of at least
$1,000,000.00 per occurrence. Any company writing any of Tenant’s Insurance shall have an A.M. Best
rating of not less than A-. All Commercial General Liability Insurance policies shall name Tenant
as a named insured and Landlord (or any successor), and its respective members, Landlord’s Managing
Agent and Property Management Agent, including the Mortgagee as the interest of such designees
shall appear, as additional insureds. Tenant’s Insurer or agent shall endeavor to give Landlord and
its designees at least 30 days’ advance written notice of any change, cancellation, termination or
lapse of insurance. Tenant shall provide Landlord with a certificate of insurance evidencing
Tenant’s Insurance prior to the earlier to occur of the Commencement Date or the date Tenant is
provided with possession of the Premises for any reason, and on or before the renewal date of
Tenant’s insurance. So long as the same is available at commercially reasonable rates, Landlord
shall maintain so called All Risk property insurance on the Building at replacement cost value, as
reasonably estimated by Landlord. Except as specifically provided to the contrary, the limits of
either party’s’ insurance shall not limit such party’s liability under this Lease. Landlord shall
provide Tenant with a certificate of insurance evidencing Landlord’s Insurance prior to the earlier
to occur of the Commencement Date or the date Tenant is provided with possession of the Premises
for any reason, and on or before the renewal date of Landlord’s insurance.

	XVI.	 	Subrogation.

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          Notwithstanding anything in this Lease to the contrary, Landlord and Tenant hereby waive, and
shall cause their respective insurance carriers to waive, any and all rights of recovery, claim,
action or causes of action, by subrogation or otherwise, against the other and their respective
trustees, principals, beneficiaries, partners, officers, directors, agents, and employees, for any
loss or damage that may occur to the property of the waiving party or any party claiming by,
through or under such party, as the case may be, including all rights of recovery, claims, actions
or causes of action arising out of the negligence of the other party, which loss or damage is (or
would have been, had the insurance required by this Lease been carried) covered by insurance
carried by the waiving party. Any additional premium required by any insurer to permit or consent
to such a waiver will be borne by the waiving party.

XVII. Casualty Damage.

	 	A.	 	If all or any part of the Premises is damaged by fire or other casualty, Tenant shall
immediately notify Landlord in writing. During any period of time that all or a material
portion of the Premises is rendered untenantable as a result of a fire or other casualty,
the Rent shall abate for the portion of the Premises that is untenantable and not used by
Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be
damaged so that, in Landlord’s reasonable judgment, substantial alteration or
reconstruction of the Building shall be required (whether or not the Premises has been
damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially
the same form as existed before the fire or casualty; (3) the Premises have been materially
damaged and there is less than 2 years of the Term remaining on the date of the casualty;
(4) any Mortgagee requires that the insurance proceeds be applied to the payment of the
mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may
exercise its right to terminate this Lease by notifying Tenant in writing within 90 days
after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall
commence and proceed with reasonable diligence to repair and restore the Building and
the Leasehold Improvements (excluding any of Tenant’s personal property and any
Alterations that were performed by Tenant in violation of this Lease). However, in no
event shall Landlord be required to spend more than the insurance proceeds received by
Landlord. Landlord shall not be liable for any loss or damage to Tenant’s Property or to
the business of Tenant resulting in any way from the fire or other casualty or from the
repair and restoration of the damage. Landlord and Tenant hereby waive the provisions
of any Law relating to the matters addressed in this Article, and agree that their
respective
rights for damage to or destruction of the Premises shall be those specifically provided in
this Lease.
	 
	 	B.	 	If all or any portion of the Premises shall be made untenantable by fire or other
casualty, Landlord shall, with reasonable promptness, cause an architect or general contractor
selected by Landlord to provide Landlord and Tenant with a written estimate of the
amount of time required to substantially complete the repair and restoration of the
Premises and make the Premises tenantable again, using standard working methods
(“Completion Estimate”). If the Completion Estimate indicates that the Premises cannot

			
	 	 	 
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	 	 	 	be made tenantable within 270 days from the date the repair and restoration is started,
then regardless of anything in Section XVII.A above to the contrary, either party shall
have the right to terminate this Lease by giving written notice to the other of such
election within 10 days after receipt of the Completion Estimate. Tenant, however, shall
not have the right to terminate this Lease if the fire or casualty was caused by the
negligence or intentional misconduct of Tenant, Tenant Related Parties or any of Tenant’s
transferees, contractors or licensees.
	 
	 	C.	 	Notwithstanding the foregoing, if all or any portion of the Premises shall be made
untenantable by fire or other casualty during the last twelve (12) months of the Term,
the Tenant shall have the right to terminate the lease without penalty upon thirty (30)
days written notice to the Landlord.

XVIII. Condemnation.

          Either party may terminate this Lease if the whole or any material part of the Premises
shall be taken or condemned for any public or quasi-public use under Law, by eminent domain or
private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate
this Lease if there is a Taking of any portion of the Building or Property which would leave the
remainder of the Building unsuitable for use as an office building in a manner comparable to the
Building’s use prior to the Taking. In order to exercise its right to terminate the Lease,
Landlord or Tenant, as the case may be, must provide written notice of termination to the other
within 45 days after the terminating party first receives notice of the Taking. Any such
termination shall be effective as of the date the physical taking of the Premises or the portion
of the Building or Property occurs. If this Lease is not terminated, the Rentable Square Footage
of the Building, the Rentable Square Footage of the Premises and Tenant’s Pro Rata Share shall,
if applicable, be appropriately adjusted. In addition, Rent for any portion of the Premises taken
or condemned shall be abated during the unexpired Term of this Lease effective when the physical
taking of the portion of the Premises occurs. All compensation awarded for a Taking, or sale
proceeds, shall be the property of Landlord, any right to receive compensation or proceeds being
expressly waived by Tenant. However, Tenant may file a separate claim at its sole cost and
expense for Tenant’s Property and Tenant’s reasonable relocation expenses, provided the filing of
the claim does not diminish the award which would otherwise be receivable by Landlord.

XIX. Events of Default.

     Tenant shall be considered to be in default of this Lease upon the occurrence of any of the
following events of default:

	 	A.	 	Tenant’s failure to pay when due all or any portion of the Rent, if the failure
continues for five (5) days within receipt of written notice by Tenant (“Monetary Default”).
	 
	 	B.	 	Tenant’s failure (other than a Monetary Default) to comply with any term, provision
or covenant of this Lease, if the failure is not cured within 10 days of receipt of a
written notice by Tenant. However, if Tenant’s failure to comply cannot reasonably be cured

			
	 	 	 
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	 	 	 	within 10 days, Tenant shall be allowed additional time (not to exceed 60 days) as is
reasonably necessary to cure the failure so long as: (1) Tenant commences to cure the
failure within 10 days, and (2) Tenant diligently pursues a course of action that will
cure the failure and bring Tenant back into compliance with the Lease. However, if
Tenant’s failure to comply creates a hazardous condition, the failure must be cured
immediately upon notice to Tenant. In addition, if Landlord provides Tenant with notice
of Tenant’s failure to comply with any particular term, provision or covenant of the
Lease on 3 occasions during any 12 month period, Tenant’s subsequent violation of such
term, provision or covenant shall, at Landlord’s option, be an incurable event of default
by Tenant.
	 
	 	C.	 	Tenant or any Guarantor files for bankruptcy, becomes insolvent, makes a transfer in
fraud of creditors or makes an assignment for the benefit of creditors, or admits in
writing its inability to pay its debts when due.
	 
	 	D.	 	The leasehold estate is taken by process or operation of Law.
	 
	 	E.	 	Tenant does not take possession of, or abandons or vacates all or any portion of the
Premises.
	 
	 	F.	 	Tenant is in default beyond any notice and cure period under any other lease or
agreement with Landlord, including, without limitation, any lease or agreement for
parking.

XX. Remedies.

	 	A.	 	Upon any default, Landlord shall have the right without notice or demand (except as
provided in Article XIX) to pursue any of its rights and remedies at Law or in equity,
including any one or more of the following remedies:

	 	1.	 	Terminate this Lease, in which case Tenant shall immediately surrender the
Premises to Landlord. If Tenant fails to surrender the Premises, Landlord may, in
compliance with applicable Law and without prejudice to any other right or remedy,
enter upon and take possession of the Premises and expel and remove Tenant, Tenant’s
Property and any party occupying all or any part of the Premises. Tenant shall pay
Landlord on demand the amount of all past due Rent and other losses and damages which
Landlord may suffer as a result of Tenant’s default, whether by Landlord’s inability
to relet the Premises on satisfactory terms or otherwise, including, without
limitation, all Costs of Reletting (defined below) and any deficiency that may arise
from reletting or the failure to relet the Premises. “Costs of Reletting” shall
include all costs and expenses incurred by Landlord in reletting or attempting to
relet the Premises, including, without limitation, reasonable legal fees, brokerage
commissions, the cost of alterations and the value of other concessions or allowances
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	 	2.	 	Terminate Tenant’s right to possession of the Premises and, in compliance with
applicable Law, expel and remove Tenant, Tenant’s Property and any parties occupying all
or any part of the Premises. Landlord may (but shall not be obligated to) relet all or
any part of the Premises, without notice to Tenant, for a term that may be greater or
less than the balance of the Term and on such conditions (which may include concessions,
free rent and alterations of the Premises) and for such uses as Landlord in its absolute
discretion shall determine. In the event of any termination of this Lease following a
default by Tenant, Landlord agrees to use commercially reasonable efforts to relet the
Premises for the purpose of mitigating damages, provided, however, that if Landlord
attempts to relet the Premises, Landlord shall be the sole judge as to whether or not a
proposed tenant is suitable and acceptable. Landlord shall not be obligated to
prioritize the reletting of the Premises over the leasing of other areas within the
Building, and the Landlord shall be entitled to take into account in connection with any
reletting of the demised premises all relevant factors which would be taken into account
by a sophisticated developer in securing a replacement tenant for the Premises, such as,
but not limited to, the type of business proposed by a prospective tenant, matters of
tenant mix, and the financial responsibility of any such replacement tenant. Landlord
may collect and receive all rents and other income from the reletting. Tenant shall pay
Landlord on demand all past due Rent, all Costs of Reletting and any deficiency arising
from the reletting or failure to relet the Premises. Landlord shall not be responsible
or liable for the failure to relet all or any part of the Premises or for the failure to
collect any Rent. The re-entry or taking of possession of the Premises shall not be
construed as an election by Landlord to terminate this Lease unless a written notice of
termination is given to Tenant.

	 	3.	 	In lieu of calculating damages under Sections XX.A.1 or XX.A.2 above,
Landlord may elect to receive as damages the sum of (a) all Rent accrued through the
date of termination of this Lease or Tenant’s right to possession, and (b) an amount
equal to the total Rent that Tenant would have been required to pay for the remainder
of the Term discounted to present value at the Prime Rate (defined in Section XX.B.
below) then in effect, minus the then present fair rental value of the Premises for
the remainder of the Term, similarly discounted, after deducting all anticipated
Costs of Reletting.

	 	B.	 	Unless expressly provided in this Lease, the repossession or re-entering of all or
any part of the Premises shall not relieve Tenant of its liabilities and obligations
under the Lease. No right or remedy of Landlord shall be exclusive of any other right or
remedy. Each right and remedy shall be cumulative and in addition to any other right and
remedy now or subsequently available to Landlord at Law or in equity. If Landlord
declares Tenant to be in default, Landlord shall be entitled to receive interest on any
unpaid item of Rent at a rate equal to the Prime Rate plus 5%. For purposes hereof, the
“Prime Rate” shall be the per annum interest rate publicly announced as its prime or base
rate on the first day of each month in the Wall Street Journal. Forbearance by Landlord
to enforce one or more remedies shall not constitute a waiver of any default.

			
	 	 	 
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XXI. LIMITATION OF LIABILITY.

     NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS LEASE, THE LIABILITY OF LANDLORD
(AND OF ANY SUCCESSOR LANDLORD) TO TENANT SHALL BE LIMITED TO THE THEN EQUITY INTEREST OF LANDLORD
IN THE PROPERTY. TENANT SHALL LOOK SOLELY TO LANDLORD’S THEN EQUITY INTEREST IN THE PROPERTY FOR
THE RECOVERY OF ANY JUDGMENT OR AWARD AGAINST LANDLORD. NEITHER LANDLORD NOR ANY LANDLORD RELATED
PARTY SHALL BE PERSONALLY LIABLE FOR ANY JUDGMENT OR DEFICIENCY. BEFORE FILING SUIT FOR AN
ALLEGED DEFAULT BY LANDLORD, TENANT SHALL GIVE LANDLORD AND THE MORTGAGEE(S) (DEFINED IN ARTICLE
XXVI BELOW) WHOM TENANT HAS BEEN NOTIFIED HOLD MORTGAGES (DEFINED IN ARTICLE XXVI BELOW) ON THE
PROPERTY, BUILDING OR PREMISES, NOTICE AND REASONABLE TIME TO CURE THE ALLEGED DEFAULT. WITHOUT
LIMITING THE FOREGOING, IN NO EVENT SHALL TENANT, TENANT RELATED PARTIES LANDLORD OR ANY
MORTGAGEES OR LANDLORD RELATED PARTIES EVER BE LIABLE FOR ANY CONSEQUENTIAL, PUNITIVE, INDIRECT OR
INCIDENTAL DAMAGES OR ANY LOST PROFITS OF TENANT OR THE OTHER PARTY TO THIS LEASE.

XXII. No Waiver.

          Either party’s failure to declare a default immediately upon its occurrence, or delay in
taking action for a default shall not constitute a waiver of the default, nor shall it constitute
an estoppel. Either party’s failure to enforce its rights for a default shall not constitute a
waiver of its rights regarding any subsequent default. Receipt by Landlord of Tenant’s keys to the
Premises shall not constitute an acceptance or surrender of the Premises.

XXIII. Quiet Enjoyment.

          Tenant shall, and may peacefully have, hold and enjoy the Premises, subject to the terms of
this Lease, provided Tenant pays the Rent and fully performs all of its covenants and agreements.
This covenant and all other covenants of Landlord shall be binding upon Landlord and its successors
only during its or their respective periods of ownership of the Building, and shall not be a
personal covenant of Landlord or the Landlord Related Parties.

XXIV. Relocation.

          Landlord, at its expense, at any time before or during the Term, may relocate Tenant from the
Premises to reasonably comparable space (“Relocation Space”) within the Building or adjacent
buildings within the Bear Hill Business Park upon 90 days’ prior written notice to Tenant. Bear
Hill Business Park includes 150, 255, 303, and 335 Bear Hill Road, 300 Second, 60 and 69 Hickory
Drive. From and after the date of the relocation, “Premises” shall refer to the Relocation Space
into which Tenant has been moved and the Base Rent and Tenant’s Pro Rata

			
	 	 	 
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Share shall remain the same as set forth in this lease. Landlord shall pay all of Tenant’s moving
costs (Tenant’s furniture, equipment, supplemental HVAC and printing and distributing notices to
Tenant’s customers of Tenant’s change of address and one month’s supply of stationery showing the
new address) including the build-out of the Relocation Premises.

XXV. Holding Over.

          Except for any permitted occupancy by Tenant under Article VIII, if Tenant fails to surrender
the Premises at the expiration or earlier termination of this Lease, occupancy of the Premises
after the termination or expiration shall be that of a tenancy at sufferance. Tenant’s occupancy
of the Premises during the holdover shall be subject to all the terms and provisions of this Lease
and Tenant shall pay an amount (on a per month basis without reduction for partial months during
the holdover) during the first 60 days of holdover equal to 150% during the first 30 days of
holdover and 200% thereafter of the greater of (1) the sum of the Base Rent and Additional Rent
due for the period immediately preceding the holdover; or (2) the fair market gross rental for the
Premises as reasonably determined by Landlord. No holdover by Tenant or payment by Tenant after the
expiration or early termination of this Lease shall be construed to extend the Term or prevent
Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise.
In addition to the payment of the amounts provided above, if Landlord is unable to deliver
possession of the Premises to a new tenant, or to perform improvements for a new tenant, as a
result of Tenant’s holdover and Tenant fails to vacate the Premises within 15 days after Landlord
notifies Tenant of Landlord’s inability to deliver possession, or perform improvements, Tenant
shall be liable to Landlord for all damages, including, without limitation, consequential damages,
that Landlord suffers from the holdover.

XXVI. Subordination to Mortgages; Estoppel Certificate.

          Tenant accepts this Lease subject and subordinate to any mortgage(s), deed(s) of trust,
ground lease(s) or other lien(s) now or subsequently arising upon the Premises, the Building or
the Property, and to renewals, modifications, refinancings and extensions thereof (collectively
referred to as a “Mortgage”). The party having the benefit of a Mortgage shall be referred to as a
“Mortgagee”. This clause shall be self-operative, but upon request from a Mortgagee, Tenant shall
execute a commercially reasonable subordination agreement in favor of the Mortgagee. In lieu of
having the Mortgage be superior to this Lease, a Mortgagee shall have the right at any time to
subordinate its Mortgage to this Lease. If requested by a successor-in-interest to all or a part
of Landlord’s interest in the Lease, Tenant shall, without charge, attorn to the
successor-in-interest. Landlord and Tenant shall each, within 10 days after receipt of a written
request from the other, execute and deliver an estoppel certificate to those parties as are
reasonably requested by the other (including a Mortgagee or prospective purchaser). The estoppel
certificate shall include a statement certifying that this Lease is unmodified (except as
identified in the estoppel certificate) and in full force and effect, describing the dates to which
Rent and other charges have been paid, representing that, to such party’s actual knowledge, there
is no default (or stating the nature of the alleged default) and indicating other matters with
respect to the Lease that may reasonably be requested.

			
	 	 	 
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XXVII.

          Attorneys’ Fees.

          If either party institutes a suit against the other for violation of or to enforce any
covenant or condition of this Lease, or if either party intervenes in any suit in which the other
is a party to enforce or protect its interest or rights, the prevailing party shall be entitled to
all of its costs and expenses, including, without limitation, reasonable attorneys’ fees.

XXVIII. Notice.

          If a demand, request, approval, consent or notice (collectively referred to as a “notice”)
shall or may be given to either party by the other, the notice shall be in writing and delivered
by hand or sent by registered or certified mail with return receipt requested, or sent by
overnight or same day courier service at the party’s respective Notice Address(es) set forth in
Article I, except that if Tenant has vacated the Premises (or if the Notice Address for Tenant is
other than the Premises, and Tenant has vacated such address) without providing Landlord a new
Notice Address, Landlord may serve notice in any manner described in this Article or in any other
manner permitted by Law. Each notice shall be deemed to have been received or given on the earlier
to occur of actual delivery or the date on which delivery is refused, or, if Tenant has vacated
the Premises or the other Notice Address of Tenant without providing a new Notice Address, three
(3) days after notice is deposited in the U.S. mail or with a courier service in the manner
described above. Either party may, at any time, change its Notice Address by giving the other
party written notice of the new address in the manner described in this Article.

XXIX. Excepted Rights.

          This Lease does not grant any rights to light or air over or about the Building. Landlord
excepts and reserves exclusively to itself the use of: (1) roofs, (2) telephone, electrical and
janitorial closets, (3) equipment rooms, Building risers or similar areas that are used by Landlord
for the provision of Building services, (4) rights to the land and improvements below the floor of
the Premises, (5) the improvements and air rights above the Premises, (6) the improvements and air
rights outside the demising walls of the Premises, and (7) the areas within the Premises used for
the installation of utility lines and other installations serving occupants of the Building.
Landlord has the right to change the Building’s name or address. Landlord has the right to alter or
relocate any common facility of the Building. Landlord also has the right to make such other
changes to the Property and Building as Landlord deems appropriate, provided the changes do not
materially affect Tenant’s ability to use the Premises for the Permitted Use. Landlord shall also
have the right (but not the obligation) to temporarily close the Building if Landlord reasonably
determines that there is an imminent danger of significant damage to the Building or of personal
injury to Landlord’s employees or the occupants of the Building. The circumstances under which
Landlord may temporarily close the Building shall include, without limitation, electrical
interruptions, hurricanes and civil disturbances. A closure of the Building under such
circumstances shall not constitute a constructive eviction nor entitle Tenant to an abatement or
reduction of Rent.

			
	 	 	 
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XXX. Surrender of Premises.

          At the expiration or earlier termination of this Lease or Tenant’s right of possession,
Tenant shall remove Tenant’s Property (defined in Article XV) from the Premises, and quit and
surrender the Premises to Landlord, broom clean, and in good order, condition and repair,
ordinary wear and tear excepted. Tenant shall also be required to remove the Required Removables
in accordance with Article VIII. If Tenant fails to remove any of Tenant’s Property within 2 days
after the termination of this Lease or of Tenant’s right to possession, Landlord, at Tenant’s
sole cost and expense, shall be entitled (but not obligated) to remove and store Tenant’s
Property. Landlord shall not be responsible for the value, preservation or safekeeping of
Tenant’s Property. Tenant shall pay Landlord, upon demand, the expenses and storage charges
incurred for Tenant’s Property. In addition, if Tenant fails to remove Tenant’s Property from the
Premises or storage, as the case may be, upon a prompt written notice and within 30 days after
Tenant vacating the Premises, Landlord may deem all or any part of Tenant’s Property to be
abandoned, and title to Tenant’s Property shall be deemed to be immediately vested in Landlord.

XXXI. Miscellaneous Covenants

A. Signs, Blinds and Drapes: Tenant shall not have the right to install any exterior or
interior signs that would be visible from outside tenant’s premises. Draperies and/or blinds
hung in the premises must follow the general pattern and color of the building and must first be
approved in writing by the Landlord. Landlord, at Landlord’s sole cost and expense, shall
initially provide Tenant with one building standard sign in the main lobby directory.

B. Floor Loading: Tenant shall not place a load upon any floor of the premises exceeding
the floor load per square foot of area which such floor was designed to carry and which is
allowed by law. Landlord reserves the right to prescribe the weight and position of all business
machines and mechanical equipment. Business machines and mechanical equipment shall be placed and
maintained by Tenant, at Tenant’s expense, in settings sufficient in Landlord’s judgment to
absorb and prevent vibration, noise and annoyance.

XXXII. Miscellaneous.

	 	A.	 	This Lease and the rights and obligations of the parties shall be interpreted,
construed and enforced in accordance with the Laws of the state in which the Building is
located and Landlord and Tenant hereby irrevocably consent to the jurisdiction and proper
venue of such state. If any term or provision of this Lease shall to any extent be
invalid or unenforceable, the remainder of this Lease shall not be affected, and each
provision of this Lease shall be valid and enforced to the fullest extent permitted by
Law. The headings and titles to the Articles and Sections of this Lease are for
convenience only and shall have no effect on the interpretation of any part of the Lease.

			
	 	 	 
	Bear Hill Business Park, Waltham, Massachusetts
	 	 
	OXIGENE, Inc.	 	 
	4/16/2009	 	 

26

 

	 	B.	 	Tenant shall not record this Lease or any memorandum or notice without Landlord’s prior
written consent; provided, however, Landlord agrees to consent to the recordation or
registration of a memorandum or notice of this Lease, at Tenant’s cost and expense (and
in a form reasonably satisfactory to Landlord), if the initial term of this Lease or the
initial
term plus any renewal terms granted exceed, in the aggregate, 10 years. If this Lease is
terminated before the Term expires, upon Landlord’s request the parties shall execute,
deliver and record an instrument acknowledging the above and the date of the termination
of this Lease, and Tenant appoints Landlord its attorney-in-fact in its name and behalf to
execute the instrument if Tenant shall fail to execute and deliver the instrument after
Landlord’s request therefor within 10 days.
	 
	 	C.	 	Landlord and Tenant hereby waive any right to trial by jury in any proceeding based
upon a breach of this Lease.
	 
	 	D.	 	Whenever a period of time is prescribed for the taking of an action by Landlord or
Tenant, the period of time for the performance of such action shall be extended by the
number of days that the performance is actually delayed due to strikes, acts of God,
shortages of labor or materials, war, civil disturbances and other causes beyond the
reasonable control of the performing party (“Force Majeure”). However, events of Force
Majeure shall not extend any period of time for the payment of Rent or other sums
payable by either party or any period of time for the written exercise of an option or
right by either party.
	 
	 	E.	 	Landlord shall have the right to transfer and assign, in whole or in part, all of its
rights and obligations under this Lease and in the Building and/or Property referred to herein
and upon such transfer Landlord shall be released from any further obligations hereunder,
and Tenant, upon prior written notice, agrees to look solely to the successor in interest
of Landlord for the performance of such obligations.
	 
	 	F.	 	Tenant represents that it has dealt directly with and only with the Broker as a broker
in connection with this Lease. Tenant shall indemnify and hold Landlord and the Landlord
Related Parties harmless from all claims of any other brokers claiming to have
represented Tenant in connection with this Lease. Landlord agrees to indemnify and hold
Tenant and the Tenant Related Parties harmless from all claims of any brokers claiming
to have represented Landlord in connection with this Lease.
	 
	 	G.	 	Tenant covenants, warrants and represents that: (1) each individual executing,
attesting and/or delivering this Lease on behalf of Tenant is authorized to do so on behalf of
Tenant; (2) this Lease is binding upon Tenant; and (3) Tenant is duly organized and
legally existing in the state of its organization and is qualified to do business in the state
in which the Premises are located. If there is more than one Tenant, or if Tenant is
comprised of more than one party or entity, the obligations imposed upon Tenant shall be
joint and several obligations of all the parties and entities. Notices, payments and
agreements given or made by, with or to any one person or entity shall be deemed to have
been given or made by, with and to all of them.

			
	 	 	 
	Bear Hill Business Park, Waltham, Massachusetts
	 	 
	OXIGENE, Inc.	 	 
	4/16/2009	 	 

27

 

	 	H.	 	Time is of the essence with respect to Tenant’s exercise of any expansion, renewal or
extension rights granted to Tenant. This Lease shall create only the relationship of
landlord and tenant between the parties, and not a partnership, joint venture or any other
relationship. This Lease and the covenants and conditions in this Lease shall inure only to
the benefit of and be binding only upon Landlord and Tenant and their permitted successors
and assigns.
	 
	 	I.	 	The expiration of the Term, whether by lapse of time or otherwise, shall not relieve
either party of any obligations which accrued prior to or which may continue to accrue
after the expiration or early termination of this Lease. Without limiting the scope of the
prior sentence, it is agreed that Tenant’s obligations under Sections IV.A, IV.B, VIII,
XIV, XX, XXV and XXX shall survive the expiration or early termination of this Lease.
	 
	 	J.	 	Landlord has delivered a copy of this Lease to Tenant for Tenant’s review only, and
the delivery of it does not constitute an offer to Tenant or an option. This Lease shall
not be effective against any party hereto until an original copy of this Lease has been
signed by such party.
	 
	 	K.	 	All understandings and agreements previously made between the parties are superseded
by this Lease, and neither party is relying upon any warranty, statement or representation
not contained in this Lease. This Lease may be modified only by a written agreement signed
by Landlord and Tenant.
	 
	 	L.	 	In the event of a default or upon request of the Landlord, Tenant shall furnish to
Landlord, within 120 days of the close of Tenant’s fiscal year, Tenant’s annual financial
statement reviewed by a Certified Public Accountant and, if available, an annual financial
report. If the Tenant is subject to regulation by the Federal Securities and Exchange
Commission, Tenant shall, upon request of the Landlord, furnish to Landlord a copy of form
10K furnished to said commission.
	 
	 	M.	 	Confidentiality. Landlord agrees, upon written request of the Tenant from time to
time, to enter into a commercially reasonable confidentiality agreement with respect to
information which Tenant provides Landlord in writing and which Tenant informs Landlord
in writing is confidential.

XXXIII. Entire Agreement.

              This Lease and the following exhibits and attachments constitute the entire agreement between
the parties and supersede all prior agreements and understandings related to the Premises,
including all lease proposals, letters of intent and other documents: Exhibit A (Outline and
Location of Premises), Exhibit B (Rules and Regulations), Exhibit C (Commencement Letter),
Exhibit D (Intentionally Omitted) and Exhibit E (Additional Provisions, if applicable)

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

			
	 	 	 
	Bear Hill Business Park, Waltham, Massachusetts
	 	 
	OXIGENE, Inc.	 	 
	4/16/2009	 	 

28

 

LANDLORD:

King Waltham LLC, a Delaware limited liability company

d/b/a King Bear Hill

By: Its Manager, King Metro Waltham LLC

     By: Its Manager, King DiMaggio LLC

          By: Its Manager, King Street Properties LLC

               By: Thomas Ragno, Manager

	 	 	 	 	 
	 

	 	/s/ Thomas Ragno	 	 
	 

	 	 

TENANT:
	 	 
	 
	 	 	 	 
	 

	 	OXiGENE, Inc., a(n)
 

Delaware Corporation
		 
	 

	 	 	 	 

	 	 	 	 	 
	 

	 	By:	 	/s/ James B. Murphy
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:
	 	James B. Murphy
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:
	 	VP & CFO
	 

	 	 	 	 

			
	 	 	 
	Bear Hill Business Park, Waltham, Massachusetts
	 	 
	OXIGENE, Inc.	 	 
	4/16/2009	 	 

29

 

EXHIBIT A

PREMISES

     This
Exhibit is attached to and made a part of the Lease dated as of April
      2009, by and
between King Waltham LLC d/b/a King Bear Hill, a Massachusetts limited liability company
(“Landlord”) and OXIGENE, Inc. a Delaware corporation. (“Tenant”) for space in the Building
located at 300 Bear Hill Road, Waltham, Massachusetts.

	 	 	 
	 

	 	Floor Two
	King Street Properties

	 	300 Bear Hill Road
	 

	 	Waltham, Massachusetts

Bear Hill
Business Park, Waltham, MA

OXIGENE, Inc.

April 16, 2009

1

 

EXHIBIT B

BEAR HILL BUSINESS PARK

RULES AND REGULATIONS

The following rules and regulations (collectively, the “Rules”) shall apply, where applicable, to
the Premises, the Building, the parking lot, the Project and the appurtenances thereto. Whenever
Landlord’s judgment, approval or consent is required under any Rules, Landlord agrees that it will
act reasonably.

As used herein “Common Areas” shall have the meaning set forth in Section 1.4 of the Lease.

A. GENERAL

	 	1.	 	Sidewalks, areas outside of doorways, exterior vestibules and other similar areas
shall not be obstructed by Tenant or used by Tenant for any purpose other than ingress and
egress to and from the Premises. No rubbish, litter, trash, or material of any nature
shall be placed, emptied, or thrown in those areas. At no time shall Tenant permit
Tenant’s employees, contractors or other representatives to loiter in Common Areas, or in
any other areas outside the Building.
	 
	 	2.	 	Any Tenant or vendor sponsored activity or event in Common Area must be approved and
scheduled through Landlord’s representative, which approval shall not be unreasonably
withheld.
	 
	 	3.	 	Alcoholic beverages (without Landlord’s prior written consent), illegal drugs or
other illegal controlled substances are not permitted in the Common Areas, nor will any
person under the influence of the same be permitted in the Common Areas.
	 
	 	4.	 	No firearms or other weapons are permitted in the Common Areas.
	 
	 	5.	 	No fighting or “horseplay” will be tolerated at any time in the Common Areas.
	 
	 	6.	 	Fire protection and prevention practices implemented by Landlord from time to time
in the Common Areas, including participation in fire drills, must be observed by Tenant
at all times.
	 
	 	7.	 	Tenant shall not cause any unnecessary janitorial labor or services in the Common
Areas by reason of Tenant’s carelessness or indifference in the preservation of good order
and cleanliness.
	 
	 	8.	 	Subject to the provisions of Article 31 of the Lease, no signs, advertisements or
notices shall be painted or affixed on or to any windows, doors or other parts of the
Building that are visible from the exterior of the Building unless approved in writing by
Landlord.

Bear Hill Business Park, Waltham, MA

OXIGENE, Inc.

April 16, 2009

1

 

	 	9.	 	Tenant shall not exceed the acceptable floor loading and weight distribution requirements
for the Building.
	 
	 	10.	 	No animals, except seeing-eye dogs, shall be brought into or kept in, on or about
the Common Areas.
	 
	 	11.	 	Smoking and discarding of smoking materials by Tenant and/or any Tenant Party is
permitted only in exterior locations designated by Landlord. Tenant will instruct and
notify its visitors and employees of such policy.
	 
	 	12.	 	There shall not be used in any Common Area, either by any Tenant or by delivery
personnel or others, in the delivery or receipt of merchandise, any hand trucks, except
those equipped with rubber tires and sole guards.
	 
	 	13.	 	Tenant shall provide Landlord in writing the names and contact information of two (2)
representatives authorized by the Tenant to request Landlord services, either billable or
non billable and to act as a liaison for matters related to the Premises.

B. ACCESS & SECURITY

	1.	 	Bicycles and other vehicles are not permitted on the walkways outside the Building, except in
those areas specifically designated by Landlord for such purposes.
	 
	2.	 	Canvassing, soliciting, and peddling in or about the Project (other than in the Premises)
is prohibited. Tenant, its employees, agents and contractors shall cooperate with said
policy, and Tenant shall use its best efforts to prevent the same by Tenant’s invitees.
	 
	3.	 	Tenant and its employees, agents, contractors, invitees and licensees are limited to the
Premises and the Common Areas. Tenant and its employees, agents, contractors, invitees and
licensees may not enter other areas of the Project (other than the Common Areas) except when
accompanied by an escort from Landlord.
	 
	4.	 	Tenant acknowledges that Project security problems may occur which may require the employment
of extreme security measures in the 

day-to-day operation of the Common Areas. Accordingly,
Tenant agrees to cooperate and cause its employees, contractors and other representatives to
cooperate fully with Landlord in the implementation of any reasonable security procedures
concerning the Common Areas.

C. SHIPPING/RECEIVING

1. Dock
areas exterior to the Building shall not be used for storage or staging by Tenant.

2. In no case shall any truck or trailer be permitted to remain in a loading dock area for more
than forty-eight hours.

Bear Hill Business Park, Waltham, MA

OXIGENE, Inc.

April 16, 2009

2

 

EXHIBIT C

COMMENCEMENT LETTER 

(EXAMPLE)

Date:

Tenant:

Address:

	 	 	 
	Re:

	 	Commencement Letter with respect to that certain Lease dated as of          by and
between King Waltham LLC, d/b/a King Bear Hill, a Massachusetts limited liability
company, as Landlord, and           , as Tenant, for           rentable square feet on the
floor           of the Building located at                      Waltham, Massachusetts.

Dear:

     In accordance with the terms and conditions of the above referenced Lease, Tenant accepts
possession of the Premises and agrees:

	 	1.	 	The Commencement Date of the Lease is           ;
	 
	 	2.	 	The Termination Date of the Lease
is          .

     Please acknowledge your acceptance of possession and agreement to the terms set forth above by
signing all 3 counterparts of this Commencement Letter in the space provided and returning 2 fully
executed counterparts to my attention. 

Sincerely,

Property Manager

Agreed and Accepted:

Tenant:

          By:

Bear Hill Business Park, Waltham, MA

OXIGENE, Inc.

April 16, 2009

3

 

Exhibit D

INTENTIALLY OMITTED

Bear Hill
Business Park, Waltham, MA

OXIGENE, Inc.

April 16, 2009

1

 

EXHIBIT E

ADDITIONAL PROVISIONS

          This Exhibit is attached to and made a part of the Lease and is entered into as of the
day of April, 2009, by and between King Waltham LLC d/b/a King Bear Hill, a
Massachusetts limited liability company (“Landlord”) and OXIGENE, Inc., a Delaware
corporation (“Tenant”) for space in the Building located at 300 Bear Hill Road, Waltham,
Massachusetts.

1. OPTION TO EXTEND

Provided that OXIGENE, Inc. is in occupancy of the Premises as of the Notice Date (as
hereinafter defined) and on the first day of the Extension Term, and that Tenant is not in
default under the Lease on the Notice Date and the first day of the Extension Term, then
Tenant shall have the option (the “Extension Option”) to extend the term hereof for one (1)
additional period of one (1) year (the “Extension Term”) by giving Landlord written notice
of such exercise on or before the date nine (9) months prior to the Termination Date (“the
Notice Date”). If Tenant fails to timely exercise the Extension Option, or, if at the time
of exercise or on the first day of the Extension Term Tenant has failed to satisfy the
conditions set forth in this Section 2, then this Extension Option shall immediately and
automatically terminate and any rights of Tenant in the Extension Term shall be void and
without force and effect. All terms and conditions of this Lease shall remain in effect
with respect to the Extension Term, except that, a) there shall be no further option to
extend the Term of the Lease, b) Landlord shall have no obligation to perform leasehold
improvements or to provide an allowance for leasehold improvements, rent credit or other
incentives customarily provided to new tenants, c) the Extension Option is not transferable
to any third party, except a Permitted Transferee, and d) annual Base Rent shall be as
follows:

Base Rent shall be increased effective as of the commencement of the Extension Term to
reflect the fair market rental value for comparable office space within the Waltham market,
but not less than the rate in effect during the last month of the initial lease term,
taking into account Tenant’s obligations to pay Additional Rent and all other provisions of
this Lease. Said fair market rental value shall be as determined in a notice given by
Landlord to Tenant. In the event that Tenant disputes Landlord’s determination of fair
market rental value, and if Landlord and Tenant cannot mutually agree upon the same within
forty-five (45) days following receipt of Tenant’s objection, then in such event said fair
market rental value shall be determined by appraisers, one to be chosen by Landlord, one to
be chosen by Tenant, and a third to be selected by the two first chosen. The unanimous
written decision of the first two chosen, without selection and participation of a third
appraiser, or otherwise the written decision of a majority of three appraisers chosen and
selected as aforesaid, shall be conclusive and binding upon

Bear Hill Business Park, Waltham, MA

OXIGENE, Inc.

April 16, 2009

1

 

Landlord and Tenant. Landlord and Tenant shall each notify the other of its chosen appraiser
within ten (10) days following expiration of the aforesaid forty-five (45) day period and,
unless such two appraisers shall have reached a unanimous decision within thirty (30) days
after having been chosen, they shall within a further ten (10) days elect a third appraiser
and notify Landlord and Tenant thereof. Each party shall bear the expense of the appraiser
chosen by such party pursuant to this Section, and the parties shall equally share the
expense of the third appraiser (if any). If Base Rent shall not have been determined prior
to the commencement thereof, Tenant shall continue to pay Base Rent at the rate most
recently in effect, subject to retroactive adjustment by both parties within fifteen (15)
days after Base Rent for such period has in fact been determined. In no event shall the
foregoing provisions be construed so as to result in any reduction in Base Rent. All Base
Rent and any recurring monthly charges shall be paid without setoff or deduction in equal
monthly installments in advance on or before the first day of each calendar month, and
proportionately (on a per diem basis) at the rate then in effect with respect to any
calendar month in which the term of this Lease may begin or end.

2. EXISTING PERSONAL PROPERTY

As of the date of this Lease, the Premises contains furniture owned by the Landlord. As long
as the Tenant is not in Default of the Lease and remains in possession of the Premises,
Tenant shall be entitled to use said furniture at no cost or expense. On or before the
Commencement Date, the Tenant and Landlord will identify in writing, which list to be
attached hereto as Exhibit F, the furniture to be used by the Tenant. Any furniture which is
not identified for Tenant’s use will be removed from the Premises at Landlord’s sole cost and
expense. Upon the expiration of the Lease Term, all such furniture shall be left by the
Tenant in the Premises, in the same condition as it is as of the Commencement Date,
reasonable wear and tear excepted.

Bear Hill Business Park, Waltham, MA

OXIGENE, Inc.

April 16, 2009

2

 

EXHIBIT F

LIST OF LANDLORD’S FURNITURE TO BE USED BY TENANT

	 	 	 
	QUANTITY	 	DESCRIPTION
	 

	 	 
	 
	 	 
	 

	 	 
	 
	 	 
	 

	 	 
	 
	 	 

Bear Hill Business Park, Waltham, MA

OXIGENE, Inc.

April 16, 2009

3

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