Document:

exv10w2

Exhibit 10.2

THIRD AMENDMENT TO LEASE

     This Third Amendment to Lease (this “Third Amendment”), made as of the 11th day of May, 2010,
by and between ARE-MA REGION NO. 28, LLC, a Delaware limited liability company (“Landlord”) and
ALNYLAM PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”).

W
I T N E S S E T H :

     WHEREAS, Landlord and Tenant are parties to a Lease dated as of September 26, 2003, as amended
by a First Amendment to Lease dated March 16, 2006 between Landlord (as successor to Three Hundred
Third Street LLC), and Tenant (as successor to Alnylam U.S., Inc., a Delaware corporation that is a
subsidiary of Tenant and was formerly known as Alnylam Pharmaceuticals, Inc. (the “Original
Tenant”), pursuant to an Assignment of Lease dated February 28, 2006 between Original Tenant and
Tenant), and by a Second Amendment to Lease between Landlord and Tenant dated June 26, 2009 (as so
amended, the “Lease”); and

     WHEREAS, pursuant to the Lease, Landlord leases to Tenant certain premises within the building
known and numbered as 300 Third Street, Cambridge, Massachusetts (the “Building”), which premises
include but are not limited to space on the second, third and fourth floors of the Building and are
more particularly described in the Lease (the “Alnylam Premises”); and

     WHEREAS, Tenant desires to add to the Alnylam Premises demised under the Lease the space on
Level 01 consisting of approximately 33,529 square feet (the “First Floor Premises”), the acid
neutralization room on Level P-2 consisting of approximately 185 square feet (the “2010 Acid
Neutralization Room”) and the chemical storage room on Level P-1 consisting of approximately 300
square feet (the “300 SF Chemical Storage Room,” which together with the 2010 Acid Neutralization
Room and the First Floor Premises is referred to herein as the “Additional Premises”) and otherwise
to amend the Lease in certain particulars; and

     WHEREAS, Landlord currently leases the Additional Premises to Archemix Corp., (“Archemix”)
pursuant to a Lease, dated April 11, 2005 by and between Three Hundred Third Street LLC, a Delaware
limited liability company, the predecessor-in-title to Landlord, and Tenant, as amended by a First
Amendment to Lease dated July 9, 2006, a Second Amendment to Lease dated October 31, 2007 and a
Third Amendment to Lease dated June 26, 2009 (as so amended, the “Archemix Lease”), and Landlord
anticipates exercising its right pursuant to the Archemix Lease to recapture the Additional
Premises; and

     WHEREAS, Landlord and Tenant have agreed to amend the Lease to, among other things, add the
Additional Premises to the Alnylam Premises when Landlord recaptures the Additional Premises and
the Archemix Lease is terminated, all as more particularly provided below.

     NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby covenant
and agree as follows:

1

 

     1. Defined Terms. All capitalized terms used and not otherwise defined herein shall
have the respective meanings ascribed to them in the Lease. In the event of any inconsistency
between the Lease and this Third Amendment, the provisions of this Third Amendment shall control,
and all other provisions of the Lease shall remain in full force and effect.

     2. Additional Premises Commencement Date. The “Additional Premises Commencement Date”
shall be the later of: (a) October 1, 2010, or (b) the date that Landlord delivers the Additional
Premises free of any prior tenant or occupant. The “Additional Premises Rent Commencement Date”
shall be the Additional Premises Commencement Date.

     3. Modifications to Lease. Landlord and Tenant agree to amend the Lease to add the
Additional Premises to the Alnylam Premises as provided in this Third Amendment. Effective as of
the Additional Premises Commencement Date, the Lease is hereby modified as follows:

          (a) Article 1D entitled “Premises” is hereby deleted in its entirety and replaced with the
following:

			
	          D. Premises:	 	Square feet (Rentable): A total of approximately
129,424 square feet comprised of (a) 33,529 square feet on Level 01 (the “First
Floor Premises”), (b) 33,022 square feet on Level 02 (the “Second Floor
Premises”), (c) 32,537 square feet on Level 03 (the “Third Floor Premises”),
(d) 28,428 square feet on Level 04 (the “Fourth Floor Premises”), and (e) 185
square feet relating to one acid neutralization room (the “2003 Acid
Neutralization Room”), 300 square feet relating to a Level P-1 chemical storage
room (the “300 SF Chemical Storage Room”) 366 square feet relating to the
rooftop penthouse, 185 square feet relating to a second acid neutralization
room (the “2010 Acid Neutralization Room”), 365 square feet relating to one
Level P-1 chemical storage room (the “365 SF Chemical Storage Room”) and 507
square feet relating to a third Level P-1 chemical storage room (the “507 SF
Chemical Storage Room”) (the rooftop penthouse, 2003 Acid Neutralization Room,
2010 Acid Neutralization Room 365 SF Chemical Storage Room, 507 SF Chemical
Storage Room and 300 SF Chemical Storage Room are hereinafter collectively
referred to as the “Peripheral Spaces”).

          (b) The Additional Premises, the 2010 Acid Neutralization Room and the 300 SF Chemical Storage
Room are shown on Exhibit A attached hereto and made a part hereof, which Exhibit A is hereby
attached to and made a part of the Lease.

2

 

     (c) Article 1K entitled “Monthly Rent” is hereby amended so that beginning on the Additional
Premises Commencement Date the Monthly Rent for the entire Alnylam Premises shall be as set forth
in the table below:

	 	 	 	 	 	 	 	 	 	 	 
	 	 	ANNUAL	 	MONTHLY	 	RATE PER SQUARE
	PERIOD	 	RENT	 	RENT	 	FOOT1
	For the Additional
Premises, from the
Additional Premises
Rent Commencement
Date through
October 9, 2011,
and for all
portions of the
Premises other than
the Additional
Premises, from July
1, 2009 through
October 9, 2011

	 	$	5,055,301.84	 	 	$	421,275.15	 	 	Set forth in Footnote 1 below
	October 10, 2011
through September
30, 2012

	 	$	5,307,678.24	 	 	$	442,306.52	 	 	$41.01 per square foot
	October 1, 2012
through September
30, 2013

	 	$	5,519,933.60	 	 	$	459,994.47	 	 	$42.65 per square foot
	October 1, 2013
through September
30, 2014

	 	$	5,741,248.64	 	 	$	478,437.39	 	 	$44.36 per square foot
	October 1, 2014
through September
30, 2015

	 	$	5,970,329.12	 	 	$	497,527.43	 	 	$46.13 per square foot
	October 1, 2015
through September
30, 2016

	 	$	6,209,763.52	 	 	$	517,480.29	 	 	$47.98 per square foot

     (d) The first sentence of Article 1N of the Lease is hereby deleted and replaced with the
following (it being understood that the second sentence of Article 1N is unchanged):

           N. Tenant’s Pro Rata Share:           98.32%

 

			
	1	 	The rental rates per square foot are
set forth below for the Additional Premises, from the
Additional Premises Rent Commencement Date through October 9,
2011, and for all portions of the Premises other than the
Additional Premises, from July 1, 2009 through October 9,
2011:

	 	 	 	 	 
	PORTION OF PREMISES	 	RATE PER SQUARE FOOT
	Level 03, Suite 300
	 	$	45.50	 
	Roof and Chem. Suite 300A
	 	$	45.50	 
	Level 04, Suite 401
	 	$	45.50	 
	Suite 402 (First Amendment)
	 	$	11.95	 
	Level 02, Suite 200 and 507 SF
Chemical Storage Room
	 	$	45.00	 
	Level 01, 2010 Acid Neutralization
Room and 300 SF Chemical Storage Room
	 	$	39.06	 

3

 

          (e) Article 1R entitled “Parking Fee/Parking Spaces” is hereby deleted in its entirety and
replaced with the following:

			
	          
R.       Parking Fee:	 	Fair market parking rates, as adjusted from time
to time. As of the Additional Premises Commencement Date the Parking Fee shall
be $215.00 per space per month, subject to future adjustment in accordance with
the Lease.

      
               Parking Spaces: 139 non-reserved spaces.

          (f) Article 32 of the Lease title “Expansion to First Floor” is hereby deleted.

     4. Delivery; Condition of Additional Premises. If Landlord fails to deliver the
Additional Premises on or before October 1, 2010 for any reason beyond Landlord’s control
(including without limitation the continued occupancy of all or any part of the Additional Premises
by a prior occupant thereof or any holding over by Archemix following the delivery by Landlord of
the notice of recapture under the Archemix Lease of the Additional Premises), such failure shall
not give rise to any liability of Landlord hereunder, and shall not affect the full force and
validity of this Third Amendment, provided that the Additional Premises Rent Commencement Date and
Additional Premises Commencement Date shall be delayed with respect to only the Additional Premises
until the date that Landlord delivers the Additional Premises free of any prior tenant or occupant.
Nothing herein shall affect the obligations of Tenant to pay Monthly Rent with respect to all
other portions of the Alnylam Premises and to pay all other amounts due under the Lease.

     Tenant acknowledges and agrees that no promise of Landlord to alter, remodel, repair or
improve the Additional Premises and no representation, either expressed or implied, respecting any
matter or thing relating to the Additional Premises (including the condition of the Additional
Premises) has been made by Landlord to Tenant. The Additional Premises shall be delivered by
Landlord and accepted by Tenant in “as is” condition, except that the Additional Premises shall be
in broom clean condition and Landlord shall cause its third-party environmental consultant, ENVIRON
International Corporation, or its affiliate, to audit the decommissioning of the Additional
Premises and perform or cause to be performed such decommissioning services as may be required so
that Environ is able to issue a written report stating that the Premises are suitable for
re-tenancy by another life sciences company (the “Environ Report”). The Environ Report shall also
describe the methods employed in the decommissioning work. Landlord shall provide Tenant a copy of
the Environ Report and a letter agreement from Environ that when signed by Tenant permits Tenant to
rely on the Environ Report.

     5. Subleasing. Landlord agrees that it will provide its written consent (the
“Sublease Consent”) to a sublease of the Additional Premises by Tenant to sanofi-aventis U.S., Inc.
(“Sanofi”) that is substantially consistent with the terms of the letter of intent attached to this
Third Amendment as Exhibit B (the “Proposed Sublease”), which Sublease Consent shall be on
Landlord’s standard form of Consent to Sublease and include, among other things, the following:

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     (a) That Landlord neither approves nor disapproves the terms, conditions and agreements
contained in the sublease, all of which shall be subordinate and subject to: (a) all of the
covenants, agreements, terms, provisions and conditions contained in the Lease, (b) superior
ground leases, mortgages, deeds of trust, or any other hypothecation or security now
existing or hereafter placed upon the real property of which the Additional Premises are a
part and to any and all advances secured thereby and to all renewals, modifications,
consolidations, replacements and extensions thereof, and (c) all matters of record affecting
the Additional Premises and all laws, ordinances and regulations now or hereafter affecting
the Additional Premises.

     (b) That nothing contained in the Sublease Consent or in the sublease shall be
construed to modify, waive, impair, or affect any of the terms, covenants or conditions
contained in the Lease (including Tenant’s obligation to obtain any required consents for
any other or future sublettings), or to waive any breach thereof, or any rights or remedies
of Landlord under the Lease against any person, firm, association or corporation liable for
the performance thereof, or to enlarge or increase Landlord’s obligations or liabilities
under the Lease.

Tenant and Landlord agree that 100% of the Excess Income (as defined under the Lease) from a
sublease of the Additional Premises through December 31, 2011 shall be paid to Landlord, except if
Tenant subleases to Sanofi, in which event 100% of the Excess Income from such sublease to Sanofi
shall be paid to Landlord through the term of such sublease to Sanofi and any extension thereof.
For clarity, if (i) Sanofi occupies the Additional Premises after December 31, 2011, (ii) such
occupancy is a result of holding over past the term of the sublease (rather than an extension of
the term of the sublease, whether by exercise by Sanofi of its 3-month renewal option as set forth
in Exhibit B or by mutual agreement between Sanofi and Tenant to extend the original term for up to
3 months), and (iii) Tenant receives one or more payments from Sanofi in connection with such
occupancy after December 31, 2011, then the only portion of such payment or payments that Landlord
will be entitled to receive pursuant to the Excess Income provision of the Lease will be that
portion that is equal to the Excess Income resulting from the amount of rent that Sanofi would have
been required to pay pursuant to the sublease for occupying the Additional Premises as if the term
of the sublease had been extended pursuant to its terms or by mutual agreement of Sanofi and Tenant
for up to 3 months beyond the expiration of the original term (and not as a result of Sanofi
holding over past the term of the sublease). Tenant acknowledges that Landlord’s prior written
consent shall be required for any proposed extension of the sublease term other than the one
3-month renewal option set forth in Exhibit B.

Landlord and Tenant agree further that, in addition to the other matters set forth in Section 16(A)
of the Lease, it shall be reasonable for Landlord to withhold its consent to a sublease if the
rental rate under such sublease is less than $49.00 per square foot of the subleased premises for
the term of such sublease. Except as provided above with respect to a sublease to Sanofi, Excess
Income, if any, for any sublease of the Additional Premises after January 1, 2012 shall be paid to
Landlord in accordance with the terms of the Lease.

5

 

     6. Additional Covenants. Landlord and Tenant agree further that:

          (a) Landlord shall use commercially reasonable efforts promptly after execution of this Third
Amendment by Tenant and Landlord to send Archemix the notice of Landlord’s exercise of its right to
recapture the Additional Premises from Archemix.

          (b) Following execution of this Third Amendment by Tenant and Landlord and the sending of the
notice of recapture as aforesaid, Landlord shall use commercially reasonable efforts to cause
Archemix to surrender the Additional Premises to Landlord in accordance with the terms of the
Archemix Lease provided, however, that nothing herein shall give require Landlord to commence
litigation.

     7. Alnylam Exterior Sign. Subject to the terms and conditions of this Third Amendment and the
Lease, Landlord shall allow Tenant to install a sign on the exterior of the Building (the “Alnylam
Exterior Sign”) of similar size and in the same location as the current signage installed by
Archemix, provided that: (i) plans and specifications for the Alnylam Exterior Sign and its
installation shall be submitted to Landlord and must be approved by Landlord prior to installation,
(ii) Tenant shall obtain at its sole cost and expense all applicable permits and approvals as may
be required for the Alnylam Exterior Sign, (iii) Tenant shall provide copies of all such permits
and approvals to Landlord prior to the commencement of any work related to the installation of such
Alnylam Exterior Sign, (iv) Tenant shall be responsible at its sole cost and expense for repairing
any and all property damage relating to the installation, maintenance and repair of the Alnylam
Exterior Sign, (v) the Alnylam Exterior Sign shall at all times comply with all applicable legal
requirements, (vi) Tenant shall be responsible at its sole cost and expense for the maintenance and
repair necessary to keep the Alnylam Exterior Sign in good and safe condition and repair and in
accordance with applicable permits, approvals and legal requirements, (vii) the rights granted
hereunder with respect to the Alnylam Exterior Sign shall be personal to Tenant and not assignable
to any other party, and (viii) upon the expiration, termination or assignment of the Lease, Tenant
shall at its sole cost and expense remove the Alnylam Exterior Sign and repair any property damage
relating thereto. Landlord agrees to cooperate with Tenant, at Tenant’s sole cost and expense, in
connection with Tenant’s efforts to obtain the permits and approvals required for the Alnylam
Exterior Sign. The rights and obligations of Tenant with respect to the Alnylam Exterior Sign
shall be in addition to the exterior and interior signage allowed pursuant to the Lease. If Tenant
fails to maintain the Alnylam Exterior Sign as required hereunder, Landlord shall have the right to
repair or remove the Alnylam Exterior Sign at Tenant’s sole cost and expense.

     8. Ratification of Lease; Effect of Third Amendment. The Lease, as amended by this
Third Amendment, is hereby ratified and confirmed, and each and every provision, covenant,
condition, obligation, right and power contained in and under, or existing in connection with, the
Lease, as amended by this Third Amendment, shall continue in full force and effect from and after
the date hereof and throughout the Term. This Third Amendment is not intended to, and shall not be
construed to, effect a novation, and, except as expressly provided in this Third Amendment, the
Lease has not been modified, amended, canceled, terminated, surrendered, superseded or otherwise
rendered of no force and effect. Tenant acknowledges and agrees that the Lease, as amended by this
Third Amendment, is enforceable against Tenant in

6

 

accordance with its terms. The Lease and this Third Amendment shall be construed together as a single
instrument. This Third Amendment is the entire agreement between the parties with respect to the
subject matter hereof and supersedes all prior and contemporaneous oral and written agreements and
discussions. This Third Amendment may be amended only by an agreement in writing signed by the
parties hereto.

     9. No Defaults, Counterclaims or Rights of Offset; Release of Landlord. Tenant hereby
warrants and represents that, to its knowledge, as of the date of the execution of this Third
Amendment by Tenant, there are no defaults under the Lease in respect of Landlord’s performance
thereunder and there exist no defenses, counterclaims or rights of offset with respect thereto.
Tenant, for itself, its officers, directors, members, shareholders and their respective legal
representatives, successors and assigns, does hereby absolutely and irrevocably waive, remise,
release and forever discharge Landlord, its successors, assigns, partners, employees, affiliates,
attorneys and agents, of and from any and all manner of action and actions, cause and causes of
actions, suits, debts, dues, sums of money, accounts, reckoning, bonds, bills, specialties,
covenants, contracts, controversies, agreements, promises, variances, trespasses, damages,
judgments, extents, executions, claims and demands whatsoever, in law or in equity, for items or
matters that Tenant could have been aware of or known about, through and including the date of
execution and delivery of this Third Amendment in connection with or relating to the Lease or the
transactions contemplated hereby. Nothing contained in this paragraph shall be construed to
release Tenant from its obligations under the Lease throughout the Term of the Lease (including the
Extended Term, if any).

     10. Brokers. Landlord and Tenant represent and warrant to each other that neither has
dealt with any broker, finder or agent in procuring this Third Amendment except for Richards Barry
Joyce & Partners (the “Broker”). Tenant and Landlord represent and warrant to each other that,
except with respect to the Broker, who represented Tenant, no broker, agent, commission
salesperson, or other person has represented it in the negotiations for and procurement of this
Third Amendment and of the Additional Premises and that with respect to this Third Amendment no
commissions, fees, or compensation of any kind are due and payable in connection herewith to any
broker, agent, commission salesperson, or other person. Tenant and Landlord agree to indemnify and
hold harmless each other, its agents, members, partners, representatives, officers, affiliates,
shareholders, employees, successors and assigns from and against any and all loss, liabilities,
claims, suits, or judgments (including, without limitation, reasonable attorneys’ fees and court
costs incurred in connection with any such claims, suits, or judgments, or in connection with the
enforcement of this indemnity) for any fees, commissions, or compensation of any kind which arise
out of or are in any way connected with any claimed agency relationship not referenced in this
paragraph.

     11. Successors and Assigns. This Third Amendment shall bind and inure to the benefit
of the parties hereto and their respective permitted successors and assigns.

     12. Counterparts. This Third Amendment may be executed in a number of identical
counterparts, each of which for all purposes shall be deemed to be an original, and all of which
shall collectively constitute but one agreement, fully binding upon, and enforceable against the
parties hereto.

7

 

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

	 	 	 	 	 	 	 	 	 	 	 

	 	 	TENANT:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	ALNYLAM PHARMACEUTICALS, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Patricia L. Allen	 	 
	 	 	 	 	 	 	 
	 	 	Name:	 	Patricia L. Allen	 	 
	 	 	Title:	 	VP, Finance & Treasurer	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	LANDLORD:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	ARE-MA REGION NO. 28, LLC,

a Delaware limited liability company	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Alexandria Real Estate Equities, L.P., 

a Delaware limited liability company, its member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	ARE-QRS Corp., a Maryland corporation, 

its general partner	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	/s/ Jackie Clem	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Jackie Clem	 	 
	 

	 	 	 	 	 	Title:
	 	VP Real Estate Legal Affairs	 	 

8

 

EXHIBIT A

Drawings Showing First Floor Premises, 2010 Acid Neutralization Room

and 300 SF Chemical Storage Room

 

 

 

 

 

 

 

 

EXHIBIT B

Letter of Intent for Proposed Sublease

[copy attached]

 

 

Exhibit B

(page 1 of 10)

1900 K Street, NW Suite 850 :: Washington, DC 20006 :: main 202.682.8722 :: fax
202.682.8751 : www.jmzell.com

April 29, 2010

Steven
M. Purpura

Partner

Richards Barry Joyce & Partners

53 State Street

Boston, MA 02109

Dear Steve:

Thank
you all for assisting Zell Partnership, Inc.’s client, sanofi-aventis
U.S. Inc. (“s-a”), the prospective subtenant (“Subtenant”), in structuring a potential
transaction with your respective clients/firm, Alnylam Pharmaceuticals (“Alnylam”,
“Sublandlord”). Sublandlord is a tenant of Alexandria Real Estate Equities, Inc.
(“Overlandlord”) at 300 Third Street in Cambridge, Massachusetts (“Building”) pursuant to a
lease with Overlandlord (“Prime Lease”) and is entitled to certain rights of first offer
with regard to expansion space in the Building. Pursuant to the right of first offer, the
Premises shall become part of the space leased by Sublandlord under the Prime Lease and
Subtenant shall sublease the Premises from sublandlord pursuant to the terms and
conditions of this letter described below.

This letter/proposal is intended solely as a preliminary expression of general intentions and
is to be used for discussion purposes only. The parties intend that neither shall have any
contractual obligations to the other with respect to the matters referred herein unless and until
a definitive agreement has been fully executed and delivered to the parties. The parties agree
that this letter/proposal is not intended to create any agreement or obligation by either party to
negotiate a definitive lease/purchase and sale agreement and imposes no duty whatsoever on either
party to continue negotiations, including without limitation any obligation to negotiate in good
faith or in any way other than at arm's length. Prior to delivery of a definitive executed
agreement and without any liability to the other party, either party may  (1) propose different
terms from those summarized herein, (2) enter into negotiations with other parties and/or (3)
unilaterally terminate all negotiations with the other party hereto.

 

 

Exhibit B

(page 2 of 10)

Letter of Interest: 300 Third Street 

April 29, 2010

Page 2

Each party will indicate its agreement to this letter by executing below.

	 	 	 

	Building:

	 	300 Third Street

Cambridge, MA 02142

Approximately 131,547 rentable square feet

total in Building.
	 
	 	 
	Premises:

	 	Approximately 34,014 rentable square feet,
comprised of approximately 485 rentable square feet
(“rsf”) of storage space located on Level P-1 of the
Building (“Storage Space”) and the entire Level 01 of
the Building (the “First Floor Premises”), totaling
approximately 33,529 rsf.
	 
	 	 
	Term:

	 	Through December 31, 2011.
	 
	 	 
	Use:

	 	The Premises may be utilized for any or all of
the following: life science research including wet and
dry laboratories, general office and research space
and any other uses
permitted under the Prime Lease.
	 
	 	 
	Subtenant:

	 	sanofi-aventis U.S. Inc.
	 
	 	 
	Lease Commencement:

	 	Sublandlord shall make reasonable efforts to
provide the Premises to Subtenant by October 1, 2010
and shall leave the Premises broom clean, in good
order and condition. Sublandlord agrees to use its
commercially reasonable efforts to work with
Overlandlord

This letter/proposal is intended solely as a preliminary expression of general intentions and
is to be used for discussion purposes only. The parties intend that neither shall have any
contractual obligations to the other with respect to the matters referred herein unless and until
a definitive agreement has been fully executed and delivered to the parties. The parties agree
that this letter/proposal is not intended to create any agreement or obligation by either party to
negotiate a definitive lease/purchase and sale agreement and imposes no duty whatsoever on either
party to continue negotiations, including without limitation any obligation to negotiate in good
faith or in any way other than at arm's length. Prior to delivery of a definitive executed
agreement and without any liability to the other party, either party may  (1) propose different
terms from those summarized herein, (2) enter into negotiations with other parties and/or (3)
unilaterally terminate all negotiations with the other party hereto.

 

 

Exhibit B

(page 3 of 10)

Letter of Interest: 300 Third Street

April 29, 2010

Page 3

	 	 	 

	 

	 	and Archemix to obtain written agreement as to the
specific dates for Archemix to vacate the Building,
and Sublandlord agrees to negotiate in good faith with
Subtenant if Sublandlord reasonably believes that
Sublandlord will be able to deliver the Premises on a
date that is prior to October 1, 2010.

Time shall be of the essence with regard to the dates
provided in this section.
	 
	 	 
	Base Rent:

	 	Rent shall be $49:00 NNN per rentable square
foot.
	 
	 	 
	Rent Commencement:

	 	Upon delivery of the Premises.
	 
	 	 
	Operating Expenses, Insurance
and Real Estate Taxes:

	 	Subtenant will pay its proportionate share of
the actual operating expenses. Subtenant
reserves the right to review a projected operating
expense budget prior to Sublease execution. The
operating expenses are currently projected to be
$13.68/rsf for Calendar Year 2010. Subtenant will pay
its proportionate share of the real estate taxes. The
real estate taxes are estimated to be $9.69/rsf for
Fiscal Year 2010.
	 
	 	 
	 

	 	Subtenant shall be responsible for paying for its
utilities and for the cleaning of the Premises. The
Premises are separately submetered for electric.
	 
	 	 
	Rental Abatement:

	 	None.

This letter/proposal is intended solely as a preliminary expression of general intentions and
is to be used for discussion purposes only. The parties intend that neither shall have any
contractual obligations to the other with respect to the matters referred herein unless and until
a definitive agreement has been fully executed and delivered to the parties. The parties agree
that this letter/proposal is not intended to create any agreement or obligation by either party to
negotiate a definitive lease/purchase and sale agreement and imposes no duty whatsoever on either
party to continue negotiations, including without limitation any obligation to negotiate in good
faith or in any way other than at arm's length. Prior to delivery of a definitive executed
agreement and without any liability to the other party, either party may  (1) propose different
terms from those summarized herein, (2) enter into negotiations with other parties and/or (3)
unilaterally terminate all negotiations with the other party hereto.

 

 

Exhibit B

(page 4 of 10)

Letter of Interest: 300 Third Street

April 29, 2010

Page 4

	 	 	 

	Delivery Condition:
	 	Space will be delivered “as is,” broom clean,
and in good order and condition.
	 
	 	 
	Furniture, Fixtures and Equipment:
	 	To be determined prior to sublease
execution. Sublandlord shall use its commercially
reasonable efforts to obtain the rights
for Subtenant to a portion of the existing
furniture, fixtures and equipment in the
Premises.
	 
	 	 
	Security:
	 	Subtenant shall have the right to install its own
security system in the Premises, and Subtenant shall
remove or alter such security system at the end of
Subtenant’s occupancy of the Premises to the
satisfaction of Sublandlord. Sublandlord shall
provide Subtenant with Building entry security
cards in adequate numbers for all of Subtenant’s employees working in the Premises.
	 
	 	 
	Parking:
	 	During the Term of the sublease, Subtenant
shall have the right to lease up to 1.1 spaces per
1,000 rsf in the Building garage. Tenant shall have
the right to lease its proportionate share of such
spaces pro rata with the delivery of the Premises.
These parking spaces shall be on an unassigned,
unreserved basis. Parking spaces shall be paid for
by Subtenant directly to the Sublandlord, as
additional rent, at the then market parking rates
(currently $275/ space/month).
	 
	 	 
	Subtenant Improvements:
	 	After delivery of the Premises to Subtenant,

This letter/proposal is intended solely as a preliminary expression of general intentions and
is to be used for discussion purposes only. The parties intend that neither shall have any
contractual obligations to the other with respect to the matters referred herein unless and until
a definitive agreement has been fully executed and delivered to the parties. The parties agree
that this letter/proposal is not intended to create any agreement or obligation by either party to
negotiate a definitive lease/purchase and sale agreement and imposes no duty whatsoever on either
party to continue negotiations, including without limitation any obligation to negotiate in good
faith or in any way other than at arm's length. Prior to delivery of a definitive executed
agreement and without any liability to the other party, either party may  (1) propose different
terms from those summarized herein, (2) enter into negotiations with other parties and/or (3)
unilaterally terminate all negotiations with the other party hereto.

 

 

Exhibit B

(page 5 of 10)

Letter of Interest: 300 Third Street

April 29, 2010

Page 5

	 	 	 

	 

	 	Subtenant may perform its alterations, subject to
Sublandlord’s consent, which consent may be withheld
in Sublandlord’s reasonable discretion, and the
alterations may be performed only by contractors or
mechanics approved by Sublandlord in writing and upon
the approval by Sublandlord in writing of fully
detailed and dimensioned plans and specifications
pertaining to the alterations, to be prepared and
submitted by Subtenant, at its sole cost and expense.
	 
	 	 
	 

	 	Sublandlord shall cooperate with Subtenant and make
commercially reasonable efforts to assist Subtenant in
obtaining the necessary governmental permits for
construction of the improvements to the Premises.
Additionally, Sublandlord shall reasonably cooperate
with Subtenant to obtain any governmental permits
required for occupancy. Subject to Sublandlord’s
approval of the alterations, Subtenant shall not be
required to remove any approved alterations at the
expiration of its Sublease Term.
	 
	 	 
	Signage:

	 	Subtenant, at its cost, shall have the right to
install standard lobby directory, suite and
directional signage.
	 
	 	 
	Loading Dock:

	 	Subtenant shall have the right to utilize the
loading dock and freight elevator on the same terms
available to Sublandlord, without additional charge.
Use shall be coordinated in

This letter/proposal is intended solely as a preliminary expression of general intentions and
is to be used for discussion purposes only. The parties intend that neither shall have any
contractual obligations to the other with respect to the matters referred herein unless and until
a definitive agreement has been fully executed and delivered to the parties. The parties agree
that this letter/proposal is not intended to create any agreement or obligation by either party to
negotiate a definitive lease/purchase and sale agreement and imposes no duty whatsoever on either
party to continue negotiations, including without limitation any obligation to negotiate in good
faith or in any way other than at arm's length. Prior to delivery of a definitive executed
agreement and without any liability to the other party, either party may  (1) propose different
terms from those summarized herein, (2) enter into negotiations with other parties and/or (3)
unilaterally terminate all negotiations with the other party hereto.

 

 

Exhibit B

(page 6 of 10)

Letter of Interest: 300 Third Street

April 29, 2010

Page 6

	 	 	 

	 

	 	a manner consistent with the Overlease.
	 
	 	 
	Assignment & Subletting:

	 	Subtenant may sublease all of the Premises or
assign the Sublease to affiliates, subsidiaries or a
successor company without Sublandlord’s consent but
with prior notice to Sublandlord of any such sublease
or assignment and on all other terms and conditions
required to be consistent with the Prime Lease,
provided that Subtenant shall not be released of any
of its liability under the Sublease by virtue of such
sublease or assignment.
	 
	 	 
	Renewal Option:

	 	Subtenant shall have one (l), three (3) month renewal option for
the Premises under the same terms and conditions as this letter of intent, exercisable upon no
more than six (6) months and no less than three (3) months prior written notice Such Renewal
Option is subject to the approval of Sublandlord of which approval or denial will be given within
ten (10) business days of Sublandlord’s receipt of Subtenant’s renewal notice.
	 
	 	 
	Security Deposit:

	 	None
	 
	 	 
	Compliance with laws and
regulations:

	 	Sublandlord represents and covenants that, to
the best of its knowledge, the Premises is not
in violation of any applicable governmental laws,
ordinances and regulations.
	 
	 	 
	Quiet Enjoyment:

	 	Sublandlord covenants that if the Subtenant

This letter/proposal is intended solely as a preliminary expression of general intentions and
is to be used for discussion purposes only. The parties intend that neither shall have any
contractual obligations to the other with respect to the matters referred herein unless and until
a definitive agreement has been fully executed and delivered to the parties. The parties agree
that this letter/proposal is not intended to create any agreement or obligation by either party to
negotiate a definitive lease/purchase and sale agreement and imposes no duty whatsoever on either
party to continue negotiations, including without limitation any obligation to negotiate in good
faith or in any way other than at arm's length. Prior to delivery of a definitive executed
agreement and without any liability to the other party, either party may  (1) propose different
terms from those summarized herein, (2) enter into negotiations with other parties and/or (3)
unilaterally terminate all negotiations with the other party hereto.

 

 

Exhibit B

(page 7 of 10)

Letter of Interest: 300 Third Street

April 29, 2010

Page 7

	 	 	 

	 

	 	performs its obligations under the Sublease, then the
Subtenant shall quietly enjoy and occupy the full
possession of the Premises without molestation or
hindrance by Sublandlord or any party claiming through
Sublandlord.
	 
	 	 
	Environmental Conditions:

	 	Subtenant understands that the current tenant in the Premises, Archemix,
will be decommissioning and vacating the Premises in accordance with the requirements of its lease
with Overlandlord and applicable law. Sublandlord shall make reasonable efforts to obtain from
Archemix and the Overlandlord and provide to Tenant written documentation from third party vendors
of all methods employed and analytical results regarding the decontamination of fume
hoods/ventilation enclosures, lab benches/countertops and sink traps, vivarium areas, chemical
storage cabinets/areas, and any other area/apparatus that may have contained hazardous
substances. Sublandlord shall disclose to Subtenant any violations of law or the presence of
hazardous materials in the Premises of which it has knowledge. Subtenant shall have no liability
for any environmental condition or violation of law that exists in the Premises as of the Lease
Commencement Date.
	 
	 	 
	Brokerage:

	 	Louis W. Kluger, Senior Vice President of Zell
Partnership, Inc. is a Licensed real estate

This letter/proposal is intended solely as a preliminary expression of general intentions and
is to be used for discussion purposes only. The parties intend that neither shall have any
contractual obligations to the other with respect to the matters referred herein unless and until
a definitive agreement has been fully executed and delivered to the parties. The parties agree
that this letter/proposal is not intended to create any agreement or obligation by either party to
negotiate a definitive lease/purchase and sale agreement and imposes no duty whatsoever on either
party to continue negotiations, including without limitation any obligation to negotiate in good
faith or in any way other than at arm's length. Prior to delivery of a definitive executed
agreement and without any liability to the other party, either party may  (1) propose different
terms from those summarized herein, (2) enter into negotiations with other parties and/or (3)
unilaterally terminate all negotiations with the other party hereto.

 

 

Exhibit B

(page 8 of 10)

Letter of Interest: 300 Third Street

April 29, 2010

Page 8

	 	 	 
	 
	 	brokerage in the Commonwealth of Massachusetts. Louis
Kluger of Zell Partnership, Inc. as broker and JM
Zell Partners, Ltd. as consultant, are acting as agent
for Subtenant in this transaction, with a fiduciary
duty solely to Subtenant. Louis W. Kluger is to be paid
a market commission by Sublandlord per separate
agreement. Louis W. Kluger, Zell Partnership, Inc. and
JM Zell Partners, Ltd. are not acting as agent for
Sublandlord in this transaction.
	 
	 	 
	Non-Disclosure:
	 	This proposal and all discussions related thereto shall be held in
confidence by Sublandlord and will not be discussed with third parties except on an “as needed”
basis (e.g., attorneys, lenders).
	 
	 	 
	 
	 	Despite the non-binding nature of this letter of
intent, the parties agree to negotiate in good faith to
incorporate the terms of this letter of intent into the
Sublease between Sublandlord and Subtenant.
	 
	 	 
	Exclusivity:
	 	Following full execution of the letter of intent (“Effective Date”), Sublandlord
agrees not to enter into any negotiations or agreements with any third party regarding the sublease
or assignment of the Premises or any part thereof until the earlier
of: (1) thirty (30) days after
the Effective Date, (2) cessation of negotiations of a sublease between Sublandlord and Subtenant,
and (3) the execution of a sublease.

This letter/proposal is intended solely as a preliminary expression of general intentions and
is to be used for discussion purposes only. The parties intend that neither shall have any
contractual obligations to the other with respect to the matters referred herein unless and until
a definitive agreement has been fully executed and delivered to the parties. The parties agree
that this letter/proposal is not intended to create any agreement or obligation by either party to
negotiate a definitive lease/purchase and sale agreement and imposes no duty whatsoever on either
party to continue negotiations, including without limitation any obligation to negotiate in good
faith or in any way other than at arm's length. Prior to delivery of a definitive executed
agreement and without any liability to the other party, either party may  (1) propose different
terms from those summarized herein, (2) enter into negotiations with other parties and/or (3)
unilaterally terminate all negotiations with the other party hereto.

 

 

Exhibit B

(page 9 of 10)

Letter of Interest: 300 Third Street

April 29, 2010

Page 9

This letter of intent is non-binding and not intended to be contractual in nature or create any
opportunity for good faith bargaining. Neither Subtenant nor Sublandlord shall have an obligation
to sublease the subject space or be bound in any other manner (other than as indicated in this
letter) unless and until a written sublease in form and substance satisfactory to Subtenant and
Sublandlord has been prepared and executed.

This letter/proposal is intended solely as a preliminary expression of general intentions and
is to be used for discussion purposes only. The parties intend that neither shall have any
contractual obligations to the other with respect to the matters referred herein unless and until
a definitive agreement has been fully executed and delivered to the parties. The parties agree
that this letter/proposal is not intended to create any agreement or obligation by either party to
negotiate a definitive lease/purchase and sale agreement and imposes no duty whatsoever on either
party to continue negotiations, including without limitation any obligation to negotiate in good
faith or in any way other than at arm's length. Prior to delivery of a definitive executed
agreement and without any liability to the other party, either party may  (1) propose different
terms from those summarized herein, (2) enter into negotiations with other parties and/or (3)
unilaterally terminate all negotiations with the other party hereto.

 

 

Exhibit B

(page 10 of 10)

Letter of
Interest: 300 Third Street

April 29, 2010

Page 10

If this letter of intent is acceptable to Sublandlord, please sign where indicated below and
return one original of this document to my attention. This letter may be executed in counterparts,
which taken together shall constitute one complete whole. This letter of intent shall be null and
void and of no further force and effect after 3pm Washington, DC time on April 30, 2010. We look
forward to hearing from you prior to such date.

If you
have any questions, please do not hesitate to call.

Sincerely,

Louis W. Kluger, CRE

Senior Vice-President

Zell Partnership, Inc.

cc: sanofi-aventis U.S. Inc.

AGREED & ACCEPTED BY:

ALNYLAM PHARMACEUTICALS

	 	 	 	 	 

	Name:
	 	/s/ Patricia L. Allen
 

	 	 
	 
	 	 	 	 
	Title:

	 	VP, Finance & Treasurer	 	 
	Date: 4/29/10	 	 

This letter/proposal is intended solely as a preliminary expression of general intentions and
is to be used for discussion purposes only. The parties intend that neither shall have any
contractual obligations to the other with respect to the matters referred herein unless and until
a definitive agreement has been fully executed and delivered to the parties. The parties agree
that this letter/proposal is not intended to create any agreement or obligation by either party to
negotiate a definitive lease/purchase and sale agreement and imposes no duty whatsoever on either
party to continue negotiations, including without limitation any obligation to negotiate in good
faith or in any way other than at arm's length. Prior to delivery of a definitive executed
agreement and without any liability to the other party, either party may  (1) propose different
terms from those summarized herein, (2) enter into negotiations with other parties and/or (3)
unilaterally terminate all negotiations with the other party hereto.exv10w1

Exhibit 10.1

AMENDMENT TO FORRESTER RESEARCH, INC. EMPLOYEE RETENTION PLAN

     This Amendment (“Amendment”) to the Forrester Research, Inc. Employee Retention Plan (the
“Plan”) is made as of the 28th day of June 2010 (“Amendment Effective Date”).

	 	1.	 	This Amendment amends the Plan as provided herein. Capitalized terms used herein and
not defined herein shall have the meanings ascribed to them in the Plan. Except as
expressly set forth herein, the terms and conditions of the Plan shall remain in full
force and effect in accordance with their terms. From and after the Amendment Effective
Date, reference to the Plan shall mean the Plan as amended by this Amendment.
	 
	 	2.	 	Paragraph b of Section 8 of the Plan is amended by striking 2010 and replacing it
with 2013.
	 
	 	3.	 	Paragraph a of Section 16.1 of the Plan is amended by striking 2010 and replacing it
with 2013.

	 	 	 	 	 	 	 	 	 

	 	 	FORRESTER RESEARCH, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Michael A. Doyle	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	(signature)	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Michael A. Doyle	 	 
	 	 	 	 	 
	 

	 	 	 	 	 	(Print or Type Name)	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Chief Financial Officer	 	 
	 	 	 	 	 
	 

	 	 	 	 	 	(Title)

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