Document:

EX-10.23

 Exhibit 10.23 
  

 
 October 19, 2014 
 Lisa
Utzschneider 
 Dear Lisa: 
 Get ready to yodel. 

Congratulations! On behalf of Yahoo! Inc. (“Yahoo” or the “Company”), I am pleased to offer you the position of SVP, Sales, Americas,
reporting to Marissa Mayer, working in Yahoo’s New York office. For purposes of this letter, your first day of work at Yahoo will be considered your “Employment Start Date.” 

Base Salary. Your starting base salary will be $50,000 per month ($600,000 annually), less applicable taxes, deductions and withholdings, paid
semi-monthly and subject to annual review. Yahoo’s regularly scheduled pay days are currently on the 10th and 25th of every month. 

Sign-On Bonus. Upon acceptance of this offer, you will receive a sign-on bonus in the amount of $1,000,000, which will be paid to you on or before the
third semi-monthly paycheck you receive from Yahoo. The sign-on bonus payment will be subject to applicable taxes, deductions and withholdings. Because your sign-on bonus is not fully earned until you have completed one year of service with Yahoo,
if you voluntarily resign from your employment with Yahoo or your employment with Yahoo is terminated for Cause1 during the first 12 months following your Employment Start Date, a pro-rated,
unearned portion of the sign-on bonus amounts received will become due and payable by you to Yahoo within 15 days of your last day of employment.2 In regard to the sign-on bonus only, voluntary
resignation shall not include circumstances which cause you to resign for “Good Reason” – defined as a material change to your job title or reduction of your duties or base
salary.3 
  

	1 	For purposes of this letter, “Cause” means termination of your employment with the Company based upon the Company’s good faith belief of the occurrence of one or more of the following which, with respect
to clauses (1), (2) and (3) below, if curable, you have not cured within 14 days after you receive written notice from the Company specifying with reasonable particularity such occurrence: (1) your refusal, material neglect or
material failure to perform your job duties and responsibilities (other than by reason of your serious physical or mental illness, injury or medical condition), (2) your failure or refusal to comply in any material respect with material Company
policies or lawful directives, (3) your material breach of any contract or agreement between you and the Company (including but not limited to this letter agreement and any Employee Confidentiality and Assignment of Inventions Agreement or
similar agreement between you and the Company), or your material breach of any statutory duty, fiduciary duty or any other obligation that you owe to the Company, (4) your commission of an act of fraud, theft, embezzlement or other unlawful act
against the Company or involving its property or assets or your engaging in unprofessional, unethical or other intentional acts that materially discredit the Company or are materially detrimental to the reputation, character or standing of the
Company, or (5) your indictment or conviction or nolo contendre or guilty plea with respect to any felony or crime of moral turpitude. Following notice and cure as provided in the preceding sentence, upon any additional one-time
occurrence of one or more of the events enumerated in that sentence, the Company may terminate your employment for Cause without notice and opportunity to cure. However, should the Company choose to offer you another opportunity to cure, it
shall not be deemed a waiver of its rights under this provision. You and Yahoo agree that “Cause” shall not include circumstances where you are unable to perform some or all of your job duties as a result of legal action by a prior
employer. 

	2 	In the event of your termination for Cause or voluntary resignation within the first year following your Employment Start Date, you shall be obligated to repay Yahoo an amount equal to: (i) $83,333 multiplied by
(ii) 12 minus the number of months of Yahoo employment you have completed beginning with the Employment Start Date. 

	3 	“Good Reason” shall be deemed to exist only if (i) Yahoo shall fail to correct within 30 days after receipt of written notice from you specifying in reasonable detail the reason(s) you believe Good Reason
exists (provided such notice is delivered by you no later than 30 days after the initial existence of the reason(s)) and (ii) you resign your employment within 75 days after the initial existence of the reason(s). 

  
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 Restricted Stock Units. Management will recommend that the Compensation and Leadership Development
Committee of the Board of Directors (“Compensation Committee”) approve a Restricted Stock Unit grant (“RSUs”) with a total target valuation of $16,000,000. The number of RSUs granted shall be calculated by dividing the target
valuation amount by the closing share price of the Company’s common stock on the date the Compensation Committee approves your grant (or, if the NASDAQ is not open on such date, the immediately preceding trading day). 50% of the RSUs will be
subject to a four-year time-based vesting schedule (1/4 on the 12 month anniversary of your Employment Start Date, and 1/48 monthly thereafter), and 50% of the RSUs will vest based on time (four year schedule)
and satisfaction of performance criteria established and/or approved by the Compensation Committee. Except as otherwise provided in this paragraph and as specifically approved by the Compensation Committee, the RSUs will be granted
according to the Company’s regular grant schedule and will be subject to the terms and conditions of the Yahoo! Inc. Stock Plan, and the applicable RSU award agreement (which will include the RSU vesting schedule) and vesting of the RSUs is
contingent on your continued employment with Yahoo through each vesting date. Following the vesting of the RSUs, you will receive one share of Yahoo! Inc. common stock for each vested RSU (subject to tax withholding). 

Bonus Incentive Plan. If your Employment Start Date is on or before October 1, 2015, you will be eligible to participate in the 2015 bonus
incentive plan, with a target incentive of 90% of your annual base salary, pro-rated based on the period of time you are employed at Yahoo in a bonus eligible position during the relevant fiscal year, less applicable taxes, deductions and
withholdings. Target incentives do not constitute a promise of payment. Your actual bonus payout will depend on Yahoo’s financial performance and management’s assessment of group and individual factors, and it is subject to, and governed
by, the terms and requirements of the bonus plan document. Eligibility for participation in the bonus plan is subject to annual review. 
 Benefits.
A significant part of your total compensation at Yahoo is derived from the benefits that Yahoo provides. Yahoo provides a very competitive benefits package for its eligible full- and part-time employees. Eligible Yahoos may participate in
Yahoo’s health insurance benefits (medical, dental and vision), life insurance, short term and long term disability, the Employee Stock Purchase Plan, 401(k) Plan, and Yahoo’s Flexible Spending Plan (Healthcare Reimbursement Account and/or
Dependent Care Reimbursement Account). Yahoos working less than 40 hours per week may not be eligible for all benefit programs or certain benefits may be provided on a pro-rated basis. Please refer to benefit plan documents for eligibility. Of
course, Yahoo may change its benefits at any time. Prior to New Hire Orientation, you will be provided a website address and logon instructions to access detailed information about Yahoo benefits programs, including the plan
documents. 
 Paid Time Off. You will be eligible to accrue up to 20 days of vacation in your first year of employment (up to a maximum as
specified in our Vacation policy). Vacation is accrued based on hours worked, therefore Yahoos who work less than 40 hours per week accrue vacation on a pro-rata basis. In addition, Yahoo currently provides eligible employees
with a generous schedule of paid holidays each year. 
 Severance. As a senior leader of Yahoo, upon acceptance of this offer you will be eligible
for standard severance benefits then in effect for executives at your level. 

  
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 Proprietary Agreement and No Conflict with Prior Agreements. As an employee of Yahoo, it is likely
that you will become knowledgeable about confidential and/or proprietary information related to the operations, products and services of Yahoo and its clients. Therefore, Yahoo requires that you read, complete, and sign the enclosed Employee
Confidentiality and Assignment of Inventions Agreement (“Proprietary Agreement”) and return it to Yahoo prior to your Employment Start Date.4 Similarly, you may have confidential
or proprietary information from prior employers that should not be used or disclosed to anyone at Yahoo. Yahoo requires that you comply with any existing and/or continuing reasonable, legal and enforceable contractual obligations that you may have
with your former employers. For clarification purposes, you are strictly prohibited from engaging in any business activities (“Competitive Activities”) that would violate reasonable, legal and enforceable covenants contained in the
Confidentiality, Noncompetition and Invention Assignment Agreement that you signed with Amazon.com, Inc. (“Amazon”), a copy of which you provided to us. To further protect any legitimate business interest of your former employer, you and
Yahoo agree that for six months after ceasing substantive work on behalf of Amazon, you will not be involved, directly or indirectly, in soliciting business from Amazon customers or advertisers with which, to the best of your memory, you had direct
material contact with or reviewed confidential Amazon information in the prior twelve months. You and Yahoo further agree that for the same period, you will not be involved, directly or indirectly, on management of sales or advertising outside of
the United States, Canada and Latin America. You and Yahoo further agree that for twelve months after ceasing substantive work on behalf of Amazon, you will not be involved, directly or indirectly, in soliciting for employment any then current
employees of Amazon. Finally, should you come to believe that any of your job responsibilities or assigned duties for Yahoo could potentially be in conflict with your ongoing obligations to Amazon or new obligations to Yahoo, it is your obligation
to immediately bring such potential conflict to the attention of the Yahoo legal department for guidance prior to engaging in any Competitive Activities. 

Obligations. During your employment, you shall devote your full business efforts and time to Yahoo. This obligation, however, shall not preclude you
from engaging in appropriate civic, charitable or religious activities or from serving on the boards of directors of one or two companies that are not competitors to Yahoo, as long the activities do not materially interfere or conflict with your
responsibilities to or your ability to perform your duties of employment at Yahoo. Any outside activities must be in compliance with and approved if required by Yahoo’s Code of Ethics. 

Non-competition. In addition to the obligations specified in the Proprietary Agreement, you agree that, during your employment with Yahoo you will
not engage in, or have any direct or indirect interest in any person, firm, corporation or business (whether as an employee, officer, director, agent, security holder, creditor, consultant, partner or otherwise) that is competitive with the business
of Yahoo, including, without limitation, any then-current activities relating to providing Internet navigational products or services and any then-current activities providing search, e-mail, chat, e-commerce, instant messaging, media/content (e.g.,
news, music, video), ISP (e.g., connectivity, bandwidth or storage) or other Internet-based delivery or functionality. Notwithstanding the preceding sentence, you may own not more than 1% of the securities of any company whose securities are
publicly traded. 
 Employment At-Will. Please understand that this letter does not constitute a contract of employment for any specific period of
time, but will create an employment at-will relationship that may be terminated at any time by you or Yahoo, with or without cause and with or without advance notice. The at-will nature of the employment relationship may not be modified or amended
except by written agreement signed by Yahoo’s Chief Executive Officer and you. 
  

	4 	To the extent that there are any conflicts between the terms of the Proprietary Agreement and the terms of this letter regarding the same subject matter, the terms of this letter control. 

  
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 Yahoo Policies and Code of Ethics. Yahoo is committed to creating a positive work environment and
conducting business ethically. As an employee of Yahoo, you will be expected to abide by the Company’s policies and procedures including (without limitation) Yahoo’s human resources policies and Yahoo’s Code of Ethics. On your
Employment Start Date, Yahoo will require you to review and sign the Company’s standard Yahoo Policies and Code of Ethics Acknowledgment forms. In addition, as a Yahoo executive, it is important that you set a leadership example and fully
support the company’s goals. You agree that during your employment and for five years afterwards, you will not knowingly disparage the Company or its officers, directors, employees or agents in any manner likely to be harmful to it or them or
its or their business, business reputation or personal reputation. 
 Entire Agreement. This offer letter and the referenced documents and agreements
constitute the entire agreement between you and Yahoo with respect to the subject matter hereof and supersede any and all prior or contemporaneous oral or written representations, understandings, agreements or communications between you and Yahoo
concerning those subject matters. 
 Work Authorization/Visa. If you are in need of a work authorization, please let Yahoo know at the time that you
accept this offer. Please note that the number of employment visas available each year is limited by the United States government. In the event that your request for or extension of an employment visa is denied or an employment visa cannot be
obtained within a reasonable amount of time (as determined by Yahoo, in its sole discretion), Yahoo reserves the right to withdraw or suspend this offer and/or your employment may be terminated (or if your employment has not begun, you may not
become employed by Yahoo). In the event that Yahoo has agreed to sponsor you for an employment visa, Yahoo will cover all reasonable expenses associated with the visa application process. 

Eligibility to Work in the United States. In order for Yahoo to comply with United States law, on your Employment Start Date you are required to
provide Yahoo with appropriate documentation to verify your authorization to work in the United States. Yahoo may not employ anyone who cannot provide documentation showing that they are legally authorized to work in the United States. 

Foreign National Export License. Before releasing certain export-controlled technology and software to you during your employment at Yahoo, Yahoo may
be required to obtain an export license in accordance with United States law. Yahoo will inform you if an export license is needed. If an export license is required, then this offer of employment and/or your continued employment (if applicable) with
Yahoo is contingent upon receipt of the export license or authorization, and Yahoo will have no obligation to employ you or provide you with any compensation or benefits until the export license or authorization is secured. 

Background Check. Please understand that this offer is contingent upon the successful completion of your background check and verification of your
degree(s). 
 Accepting this Offer. We’re really excited to have you on our team and can’t wait to receive your acceptance by 5:00 p.m.
(PST) on October 26, 2014. This offer is contingent on you starting employment at Yahoo on or before November 15, 2014 or a date mutually agreed upon between you and Yahoo. 

  
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 To accept this offer, please sign this letter in the space provided below and scan and email the
following signed documents to Ron Johnstone: 
  

	 	•	 	Offer Letter 

  

	 	•	 	Employee Confidentiality and Assignment of Inventions Agreement (Proprietary Agreement) 

 We can’t wait to
start working with you and hope that you’ll find working at Yahoo one of the most rewarding experiences of your life, both professionally and personally. 

Start practicing your yodel! 
 /s/ Marissa A. Mayer 

Marissa A. Mayer 
 Chief Executive Officer 

I accept this offer of employment with Yahoo! Inc. and agree to the terms and conditions outlined in this letter. 

 

	
	 /s/ Lisa Utzschneider

	Signature
	
	 Lisa Utzschneider

	Full Name
	
	 October 20th, 2014

	Date
	
	 November 17th, 2014

	Planned Employment Start Date
	(Contingent upon completion of a satisfactory background check.)

 cc: HR file 

  
 Page 5 of 5exhibit_10-51.htm

EXHIBIT 10.51

 

ASSIGNMENT AND AMENDMENT OF LEASE

November 30, 2015

1.A.           Reference is made to lease dated December 6, 2000, by and between H&N Associates, LLC, a Massachusetts limited liability company, as landlord (“Landlord”), and Advanced Inhalation Research, Inc., a Delaware corporation, as tenant, with respect to premises known as Brickyard Square, 190 Everett Avenue, Chelsea, Massachusetts.  Alkermes, Inc. (hereinafter referred to as “Assignor”) has succeeded to the tenant’s interest in said lease.  Said lease, as amended by Side Letter dated December 6, 2000, by Amendment A dated August 22, 2002, by Side Letter dated January 13, 2004, by Amendment B dated December 4, 2006, by Side Letter dated August 1, 2007, by Side Letter dated December 19, 2007, by Side Letter dated January 26, 2011, by Side Letter dated April 13, 2011, and by letter of extension dated March 27, 2015 (the “Extension Letter”), is hereinafter collectively referred to as “the Lease”.

1.B.           Reference is further made to that certain sublease dated December 27, 2010, by and between Assignor, as sublandlord, and Civitas Therapeutics, Inc., a Delaware corporation formerly known as Corregidor Therapeutics, Inc., as subtenant (the “Subtenant” or “Tenant”, as applicable), for the said premises. Said sublease, as amended by Side Letter dated February 4, 2011, by Side Letter dated April 21, 2011, and by Side Letter dated March 25, 2015, is hereinafter collectively referred to as the “Sublease”. Subtenant is a wholly owned subsidiary of Acorda Therapeutics, Inc., a Delaware corporation.

2.A.           Assignor hereby assigns all its right, title and interest in the Lease to Subtenant, and Subtenant hereby assumes and agrees to perform all agreements, covenants, and conditions imposed on the tenant under the Lease arising on or after the date hereof, such assignment and assumption to be effective as of the date hereof, provided, however, Subtenant acknowledges and agrees that tenant’s obligations arising upon the expiration or termination of the Lease as set forth in Section 6(2) of the Lease shall be deemed to be arising on or after the date hereof. Assignor shall and hereby agrees to indemnify, defend and hold Subtenant harmless from and against any and all actions, claims, demands, penalties, liabilities or costs (including reasonable attorneys’ fees) incurred in connection with the Lease and arising or accruing from Assignor’s acts or omissions prior to the date hereof, except to the extent such acts or omissions are (i) tenant’s obligations arising upon the expiration or termination of the Lease pursuant to the covenants set forth in Section 6(2) of the Lease or (ii) Subtenant obligations under the Sublease first arising or accruing from and after December 27, 2010. Subtenant shall and hereby agrees to indemnify, defend and hold Assignor harmless from and against any and all actions, claims, demands, penalties, liabilities or costs (including reasonable attorneys’ fees) incurred in connection with (x) the Lease and first arising on or after the date hereof and (y) Subtenant obligations under the Sublease and first arising or accruing from and after December 27, 2010.  Notwithstanding the foregoing and except for payments to be made pursuant to tenant’s obligations arising upon the expiration or termination of the Lease as set forth in Section 6(2) of the Lease, any payment to be made under the Lease that pertains to events or time prior to the date hereof, but is not yet due and payable, shall be reconciled and paid by Landlord or Assignor, as applicable, when such payment would otherwise become due and payable as set forth in the Lease.

  

  

  

2.B.           Assignor and Subtenant hereby agree that, notwithstanding any provision of the Sublease to the contrary, the term of the Sublease will expire and come to an end on the date hereof with the same force and effect as if such date were the date initially set forth therein as the expiration date thereof, with no additional cost payable by Assignor or Subtenant that is solely related to the early expiration of the Sublease, and the parties thereto shall have no obligations to each other except (i) any obligations under the Sublease arising or accruing prior to the date hereof, (ii) Assignor shall deliver each letter of credit being held by Assignor under the Sublease in the amounts of $1,000,000 and $4,809,263, respectively, to Subtenant within five (5) business days of the date hereof and (iii) any payment to be made under the Sublease that pertains to events or time prior to the date hereof, but is not yet due and payable, shall be reconciled and paid by the applicable party when such payment would otherwise become due and payable as set forth in the Sublease.

3.           Landlord hereby consents to the matters referenced in Section 2 hereof, provided, however, that it is understood and agreed that, as between Landlord and Assignor, Assignor shall continue to remain liable for the tenant’s obligations under the Lease regarding any environmental contamination and/or remediation of any hazardous materials in the demised premises or on the Lot, which were not present at the time Landlord delivered the demised premises to Assignor, and which have arisen prior to the date hereof.  It is understood and agreed that Landlord’s consent to said matters shall not be deemed a consent to any further assignment of the Lease or any subletting or licensing of the whole or any part of the premises demised by the Lease, provided, however, notwithstanding any provision contained in the Lease to the contrary, Landlord hereby agrees to permit Subtenant to assign its rights under the Lease to a parent or affiliate of Subtenant upon ten (10) days written notice to Landlord, so long as Subtenant shall continue to remain liable under the Lease, such liability to be primary and joint and several with that of the assignee.  Landlord hereby represents and warrants to Subtenant that Assignor is not in monetary default under the Lease, and no event has occurred, but for the passage of time, that would otherwise constitute a monetary default under the Lease, nor, to the best of Landlord’s knowledge without investigation, is Assignor in default of any of its other obligations under the Lease, and Landlord has not issued any notice of default of any of Assignor’s other obligations under the Lease that remains uncured.  Assignor hereby represents and warrants to Subtenant that Landlord is not in default under the Lease and no event has occurred, but for the passage of time, that would otherwise constitute a default under the Lease.

4.           Landlord and Assignor hereby represent and warrant to Subtenant that the documents that constitute the Lease as referenced herein are all of the documents and agreements that exist in connection with the Lease.

5.           Pursuant to the Extension Letter, the term of the Lease has been extended for a period of five (5) years commencing on January 1, 2016 and expiring on December 31, 2020 (“the First Extension Term”).  Simultaneously with the effectiveness of the assignment of the Lease set forth herein, notwithstanding any provision in the Lease to the contrary, Landlord and Tenant hereby agree that the Lease is hereby amended in the following respects:

(A)           Tenant hereby exercises the one (1) remaining five (5) year option set forth in the Lease so that the term of the Lease is hereby extended for an additional period of five

  

2

  

(5) years from January 1, 2021 and same shall now expire on December 31, 2025 (“the Second Extension Term”).

(B)           Tenant shall have the right, at its election, to further extend the term of the Lease for an additional period of five (5) years commencing on January 1, 2026 (“the First Additional Period”), provided that Landlord shall receive written notice from Tenant of the exercise of its election at least nine (9) months prior to December 31, 2025, and provided further that Tenant shall not be in default at the time of Landlord’s receipt of such notice in the payment of any Fixed Rent beyond any applicable notice and cure period.  Tenant shall have the right, at its election, to further extend the term beyond the First Additional Period for one (1) additional period of five (5) years commencing upon the expiration of the term as previously extended (“the Second Additional Period” and, together with the First Additional Period, the “Additional Periods”), provided that Landlord shall receive written notice from Tenant of the exercise of its election at least nine (9) months prior to the expiration of the First Additional Period and provided further that Tenant shall not be in default at the time of Landlord’s receipt of such notice in the payment of any Fixed Rent beyond any applicable notice and cure period.  The expression “the term of the Lease” or any equivalent expression means the period expiring on December 31, 2025.  After the exercise by Tenant of one or both of the aforesaid elections, the expression “the term of the Lease” or any equivalent expression shall mean the term as it may have been then extended.  Except as expressly otherwise provided in the Lease, all the agreements and conditions in the Lease contained shall apply to the additional period or periods to which the term shall be extended as aforesaid.  If Landlord shall receive notice of the exercise of an election in the manner and within the time provided aforesaid, the term shall be extended upon the receipt of the notice without the requirement of any action on the part of Landlord.

(C)           As of January 1, 2016, the Fixed Rent payable, pursuant to Article V of the Lease, shall be payable at the following annual rates:

	
  

	
(i)

	
During the first year of the First Extension Term...$1,042,762.50;

	
  

	
(ii)

	
During the second year of the First Extension Term...$1,068,831.56;

	
  

	
(iii)

	
During the third year of the First Extension Term...$1,095,552.35;

	
  

	
(iv)

	
During the fourth year of the First Extension Term...$1,122,941.16;

	
  

	
(v)

	
During the fifth year of the First Extension Term...$1,151,014.69;

	
  

	
(vi)

	
During the first year of the Second Extension Term...$1,179,790.06;

	
  

	
(vii)

	
During the second year of the Second Extension Term...$1,209,284.81;

	
  

	
(viii)

	
During the third year of the Second Extension Term...$1,239,516.93;

	
  

	
(ix)

	
During the fourth year of the Second Extension Term...$1,270,504.85;

  

  

  

	
  

	
(x)

	
During the fifth year of the Second Extension Term...$1,302,267.47; and

	
  

	
(xi)

	
During each year of the First Additional Period and during each year of the Second Additional Period (if said Additional Periods are exercised), the Fixed Rent shall increase each year by an amount equal to that sum arrived at by multiplying the Fixed Rent payable immediately prior to the year in question by two and a half percent (2 1⁄2%).

In each case, Fixed Rent shall be payable as set forth in Section (A) of Article V of the Lease.

(D)           Except as otherwise set forth herein, Tenant shall pay all additional rent and other charges arising after the date hereof under the Lease during the remainder of the term of the Lease as same may be extended.

6.           [Intentionally omitted]

7.           The address for notices and other communications authorized or required under the Lease to be directed to Tenant shall be directed to Tenant at 420 Saw Mill River Road, Ardsley, New York 10502, Attn: Legal Department, with a copy to: Evan S. Hirsch, Esq., c/o Jones Day, 901 Lakeside Avenue, Cleveland, Ohio 44114; and if to Landlord c/o HCG Properties, LLC, 651 Washington Street, Suite 200, Brookline, MA  02446, Attention Hal Garnick, with a copy to Gary D. Buchman, Esq., c/o Sherin and Lodgen LLP, 101 Federal Street, Boston, MA 02110.

8.           BROKERS.

(A)           Assignor hereby represents and warrants to Landlord and Tenant that it has not dealt with any broker in connection with this Assignment and Amendment of Lease and, to the best of its knowledge, there are no brokerage commissions or finders’ fees payable in connection herewith.  Assignor hereby agrees to hold Landlord and Tenant harmless from, and indemnified against all loss or damage (including, without limitation, the cost of defending the same) arising from any breach of the foregoing representation and warranty.

(B)           Tenant hereby represents and warrants to Landlord and Assignor that it has not dealt with any broker in connection with this Assignment and Amendment of Lease and, to the best of its knowledge, there are no brokerage commissions or finders’ fees payable in connection herewith.  Tenant hereby agrees to hold Landlord and Assignor harmless from, and indemnified against all loss or damage (including, without limitation, the cost of defending the same) arising from any breach of the foregoing representation and warranty.

(C)           Landlord hereby represents and warrants to Assignor and Tenant that it has not dealt with any broker in connection with this Assignment and Amendment of Lease and, to the best of its knowledge, there are no brokerage commissions or finders’ fees payable in connection herewith.  Landlord hereby agrees to hold Assignor and Tenant harmless from, and indemnified against all loss or damage (including, without limitation, the cost of defending the same) arising from any breach of the foregoing representation and warranty.

  

4

  

9.           Any capitalized term not defined herein shall have the same meaning given to it in the Lease.

10.           Except as expressly modified herein, the Lease shall remain unmodified and in full force and effect. In the event there is a conflict between this Assignment and Amendment of Lease and the Lease and/or Sublease, this Assignment and Amendment of Lease shall control.

11.           This Assignment and Amendment of Lease (A) shall be binding upon and shall inure to the benefit of Landlord, Tenant and Assignor and their respective legal representatives, successors and assigns and (B) may be executed in one or more counterparts, and by different parties hereto on separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The parties acknowledge and agree that the signatures of the parties hereto may be delivered via facsimile or email and that such signatures shall be effective to the same extent as delivery of an original signature.

[Signatures on next page]

  

5

  

In Witness Whereof, Landlord, Tenant and Assignor have caused this Assignment and Amendment of Lease to be executed as an instrument under seal as of the day and year first above written.

LANDLORD:

H&N ASSOCIATES, LLC

By:   /s/ Harold C. Garnick

         Name: Harold C. Garnick

Title:  Manager

By:   /s/ Noah Goldstein

         Name: Noah Goldstein

Title:  Manager

ASSIGNOR:

ALKERMES, INC.

By:  /s/ Michael Landine

       Name: Michael Landine

       Title: Senior Vice President

SUBTENANT/TENANT:

CIVITAS THERAPEUTICS, INC.

By:  /s/ Ron Cohen

        Name: Ron Cohen, M.D.

        Title: Authorized Representative

  

6

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