Document:

Fifth Amendment to Lease

 Exhibit 10.1 
 FIFTH AMENDMENT TO LEASE 
 THIS FIFTH AMENDMENT TO
LEASE (this “Amendment”) is entered into as of this 16th day of December, 2010, by and between BMR-3450 MONTE VILLA PARKWAY LLC, a Delaware limited liability company (“Landlord,” as successor-in-interest to Phase 3 Science Center LLC
(“Original Landlord”)), and MARINA BIOTECH, INC., a Delaware corporation (“Tenant,” f.k.a. MDRNA Inc., as successor-in-interest to Nastech Pharmaceutical Company Inc. (“Original Tenant”)).

 RECITALS 
 A. WHEREAS, Original Landlord and Original Tenant entered into that certain Lease dated as of April 23, 2002 (the “Original Lease”), as amended by that certain First Amendment to
Lease dated as of July 1, 2003, that certain Second Amendment to Lease dated as of January 29, 2004, that certain Third Amendment to Lease dated as of March 5, 2009 (the “Third Amendment”), and that certain Fourth
Amendment to Lease dated as of July 27, 2009 (collectively, the “Lease”), whereby Tenant leases certain premises from Landlord at 3450 Monte Villa Parkway in Bothell, Washington; 

B. WHEREAS, Tenant desires to decrease its obligation to pay Basic Annual Rent in exchange for Tenant issuing shares of its common stock
to an affiliate of Landlord pursuant to that certain Stock Purchase Agreement dated on or about the date hereof; and 
 C.
WHEREAS, Landlord and Tenant desire to modify and amend the Lease only in the respects and on the conditions hereinafter stated. 

AGREEMENT 
 NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
and intending to be legally bound, agree as follows: 
 1. Definitions. For purposes of this Amendment, capitalized terms
shall have the meanings ascribed to them in the Lease unless otherwise defined herein. 
 2. Abatement and Resumption of
Basic Annual Rent. Tenant’s obligation to pay Basic Annual Rent shall abate with respect to the period from October 1, 2010, until June 30, 2011. Commencing on July 1, 2011, and continuing until January 31, 2016 (i.e.,
such discount shall not apply to any future extension or renewal terms), Tenant shall pay, in accordance with the Lease and subject to the next succeeding sentence, fifty percent (50%) of the amount of Basic Annual Rent otherwise required
pursuant to the Lease with respect to such period (with such fifty percent (50%) currently equal to One and 65/100 Dollars ($1.65) per rentable square foot per month). Increases in Basic Annual Rent in accordance with Section 6.1 of
the Original Lease shall be performed in accordance with such Section on the full amount of Basic Annual Rent (i.e., prior to the fifty percent (50%) reduction), and the resulting number shall then be multiplied by fifty percent (50%) to
find the amount of Basic Annual Rent to be paid by Tenant for the next succeeding year. 

  
 Form dated
5/3/07 

 3. Stock in Tenant. Tenant shall, upon execution of this Amendment, issue to
Landlord, or Landlord’s assignee, 2,115,727 shares of certificated stock in Tenant, and in connection therewith Landlord (or Landlord’s assignee) and Tenant have executed and delivered a Stock Purchase Agreement in the form attached hereto
as Exhibit A providing for the issuance of such shares, which shares shall be deemed fully earned upon the execution and delivery of this Amendment and such a Stock Purchase Agreement, and shall not be subject to rebate. 

4. Broker. Tenant represents and warrants that it has not dealt with any broker or agent in the negotiation or obtaining of this
Amendment and agrees to indemnify, defend and hold Landlord harmless from any and all cost or liability for compensation claimed by any such broker or agent employed or engaged by it or claiming to have been employed or engaged by it. 

5. Effect of Amendment. Except as modified by this Amendment, the Lease and all the covenants, agreements, terms, provisions and
conditions thereof shall remain in full force and effect and are hereby ratified and affirmed. The covenants, agreements, terms, provisions and conditions contained in this Amendment shall bind and inure to the benefit of the parties hereto and
their respective successors and, except as otherwise provided in the Lease, their respective assigns. In the event of any conflict between the terms contained in this Amendment and the Lease, the terms herein contained shall supersede and control
the obligations and liabilities of the parties. From and after the date hereof, the term “Lease” as used in the Lease shall mean the Lease, as modified by this Amendment. 

6. Preference. In the event that any court of competent jurisdiction enters a final order, judgment or other finding that any
payment under this Amendment or the Stock Purchase Agreement constitutes a voidable or preferential payment or an improper or disproportionate payment or is otherwise in violation of law or subject to a claim of preference (a
“Finding”), then Landlord may, in its sole and absolute discretion, in addition to any other remedy provided by the Lease, at law or in equity, declare this Amendment to be null and void and Landlord’s claims revived as if this
Amendment had not been entered into; provided that all statutes of limitations with respect to Landlord’s right to payments of Basic Annual Rent under the Lease shall be tolled from the date of this Amendment to the date of the Finding.

 7. Miscellaneous. This Amendment becomes effective only upon execution and delivery hereof by Landlord and Tenant. The
captions of the paragraphs and subparagraphs in this Amendment are inserted and included solely for convenience and shall not be considered or given any effect in construing the provisions hereof. All exhibits hereto are incorporated herein by
reference. 
 8. Counterparts. This Amendment may be executed in one or more counterparts that, when taken together,
shall constitute one original. 
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 2 

 IN WITNESS WHEREOF, Landlord and Tenant have hereunto set their hands as of the date and
year first above written, and acknowledge that they possess the requisite authority to enter into this transaction and to execute this Amendment. 
 LANDLORD: 
 BMR-3450 MONTE VILLA PARKWAY LLC, 

a Delaware limited liability company 
  

			
	By:	 	 /s/ Kevin M. Simonsen

	Name:	 	 Kevin M. Simonsen

	Title:	 	 V.P. Real Estate Counsel

 TENANT: 
 MARINA BIOTECH, INC., 

a Delaware corporation 
  

			
	By:	 	 /s/ J. Michael French

	Name:	 	 J. Michael French

	Title:	 	 President and CEO

 ACKNOWLEDGEMENT 

 

			
	STATE OF Washington	  	§
		  	§
	COUNTY OF Snohomish	  	§

 On 12 16, 2010, before me, a
Notary Public in and for said state, personally appeared J. Michael French, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that
he executed the same in his authorized capacity, in that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. 

WITNESS my hand and official seal. 
  

	
	Taryn Joy Frazier
	Taryn Joy Frazier, Notary Public
	My commission expires 3/29/13

 ALL PURPOSE ACKNOWLEDGMENT 

 

							
		 	 }
	 		 	
	STATE OF CALIFORNIA	 	 		 	
		 	 	SS.	 	
	COUNTY OF SAN DIEGO	 	 		 	
		 	 		 	

 On December 16, 2010, before me, Christy Bartlett, a Notary Public in and for said County and
State, personally appeared Kevin M. Simonsen. 
  
  

who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that
he executed the same in his authorized capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. 
 I certify under PENALTY OF PERJURY under the lows of the State of California that the foregoing paragraph is true and correct. 
 WITNESS my hand and official seal. 
 Signature: /s/ Christy D. BartlettStock Purchase Agreement

 Exhibit 10.2 
 EXHIBIT A 
 STOCK PURCHASE AGREEMENT 

THIS STOCK PURCHASE AGREEMENT (this “Agreement”) by and between MARINA BIOTECH, INC., a Delaware corporation (the
“Company,” f.k.a. MDRNA Inc., as successor-in-interest to Nastech Pharmaceutical Company Inc.), and BIOMED REALTY, L.P., a Maryland limited partnership (“BioMed”), is executed and effective as of December 16,
2010 (the “Effective Date”). 
 RECITALS 

WHEREAS, BMR-3450 Monte Villa Parkway LLC, a Delaware limited liability company (the “Landlord,” as
successor-in-interest to Phase 3 Science Center LLC), and the Company entered into that certain Lease dated as of April 23, 2002, as amended by that certain First Amendment to Lease dated as of July 1, 2003, that certain Second Amendment
to Lease dated as of January 29, 2004, that certain Third Amendment to Lease dated as of March 5, 2009, and that certain Fourth Amendment to Lease dated as of July 27, 2009; 

WHEREAS, on or about the date hereof, the Company and the Landlord are entering into that certain Fifth Amendment to Lease (the
“Fifth Amendment”); 
 WHEREAS, pursuant to Section 3 of the Fifth Amendment, the Company and BioMed, the
sole member of the Landlord, enter into this Agreement pursuant to which the Company shall issue to BioMed, and BioMed shall acquire from the Company, an aggregate of 2,115,727 shares (the “Shares”) of the Company’s common
stock, par value $0.006 per share (the “Common Stock”), on the terms and subject to the conditions specified herein. 
 NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the parties hereto hereby agree as follows: 

 

	 	1.	Issuance of Shares. 

 1.1.
Issuance of Shares. On the Effective Date and subject to the terms and conditions of this Agreement, in consideration of entering into the Third Amendment and for other good and valuable consideration the sufficiency of which is hereby
recognized, the Company agrees to issue to BioMed, and BioMed agrees to acquire from the Company, the Shares. 
 1.2.
Delivery of Shares. No later than five (5) business days following the Effective Date, the Company shall deliver to BioMed or cause to be delivered to BioMed, a share certificate registered in BioMed’s name representing the Shares
that BioMed is to receive from the Company. 

 2. Representations and Warranties of the Company. The Company hereby represents and warrants to
BioMed as of the Effective Date, and with respect to Sections 2.7, 2.8, 2.9 and 2.10 for so long as BioMed holds the Shares, as follows: 
 2.1. Organization; Good Standing. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power
and authority to carry on its business as presently conducted and as proposed to be conducted, and is qualified to do business as a foreign corporation in good standing in all other jurisdictions in which the conduct of its business requires such
qualification. 
 2.2. Authorization. All corporate action on the part of the Company, its respective officers, directors
and shareholders necessary for the authorization, execution and delivery of this Agreement, the performance of all obligations of the Company hereunder, and the authorization, issuance and delivery of the Shares has been taken, and this Agreement
constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms. The Shares being purchased by BioMed hereunder, when issued, sold and delivered in accordance with the terms of this Agreement for the
consideration expressed herein, will be duly and validly issued, fully paid and nonassessable, and not subject to preemptive or other similar rights of the Company’s stockholders or others. 

2.3. Percentage of Outstanding Stock. The Shares represent less than eight percent (8.0%) of the voting interest and less
than eight percent (8.0%) of the value of the outstanding stock of the Company. 
 2.4. Securities Laws. Subject to
the accuracy of the representations and warranties of BioMed set forth in Section 3 below, the offering, issuance and sale of the Shares to BioMed is exempt from the registration requirements of Section 5 of the Securities Act of
1933, as amended (“Securities Act”) by virtue of Rule 506 of Regulation D promulgated by the Securities Act, and no consent, approval, qualification, registration or filing under any federal or state securities law is required in
connection therewith, except for the filing of a Form D, which shall be filed with the Securities and Exchange Commission after the Shares are issued and which the Company agrees to file in a timely manner whenever required. Rule 506 of Regulation D
is available to the offering, issuance, sale and delivery of the Shares to BioMed because, among other things, (1) there has been no general solicitation or general advertisement in connection with such offering, issuance and sale to BioMed,
and (2) there are no other offerings of securities of the Company which could be integrated with the offering, issuance and sale of the Shares contemplated by this Agreement. 

2.5. Restrictions. The Shares will be free of restrictions on transfer other than restrictions on transfer set forth in this
Agreement or as otherwise required by applicable federal and state securities laws. 
 2.6. No Violation. Neither the
execution, delivery and performance of this Agreement by the Company nor the issuance, sale and delivery of the Shares contemplated hereby will violate, conflict with or result in any breach of any of the terms, conditions or provisions of,

 
constitute a default under, or require any consent not obtained as of the Effective Date under, (1) the certificate of incorporation or by-laws of the Company, (2) any agreement,
contract, arrangement or understanding to which the Company is a party (including, but not limited to, any shareholders’ or similar agreements), or (3) any statute or any rule, regulation, order, judgment or decree of any court or other
governmental body applicable to the Company. 
 2.7. Health Care / Lodging Facilities. The Company does not operate or
manage any health care facilities (including a congregate care facility or assisted living facility) or lodging facilities or provide any person, under a franchise, license or otherwise, rights to any brand name under which any lodging facility or
health care facility is operated. 
 2.8. Annual Reports. The Company shall furnish to BioMed, as soon as practicable and
in any event within 90 days after the end of each fiscal year of the Company, audited, consolidated annual financial statements certified by an independent certified public accountant and prepared in accordance with U.S. GAAP; provided, however,
that so long as the Company remains subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Company may satisfy this requirement by the timely filing of such financial
statements with the Securities and Exchange Commission. 
 2.9. Quarterly Information. The Company shall furnish to
BioMed, as soon as practicable and in any event within 15 days after the end of each calendar quarter, (i) a capitalization table setting forth all of the capital stock issued and outstanding or issuable by the Company, including the value of
such capital stock, the voting power of such capital stock and the rights of such capital stock to appoint directors of the Company; provided, however, that so long as the Company remains subject to the reporting requirements of the Exchange Act,
the Company may satisfy this requirement by timely filing its quarterly reports on Form 10-Q and annual report on Form 10-K with the Securities and Exchange Commission; and (ii) such other information as is reasonably requested by BioMed to be
necessary or helpful to monitor BioMed’s compliance with the requirements relating to the status of BioMed or its affiliates as a real estate investment trust for federal income tax purposes. 

2.10. Notification. In the event that the Company becomes aware of any event which has resulted or which may result in the Shares
held by BioMed constituting greater than eight percent (8.0%) of the voting interest and/or greater than eight percent (8.0%) of the value of the outstanding stock of the Company, the Company shall immediately notify BioMed, and in no
event later than five (5) days after the occurrence of such event. 
 3. Representations and Warranties of BioMed to the Company.
BioMed hereby represents and warrants to the Company as of the Effective Date that: 
 3.1. Authorization. All corporate
action on the part of BioMed, its respective officers, directors, members and shareholders necessary for the authorization, execution and delivery of this Agreement, and the performance of all obligations of BioMed hereunder, has been taken, and
such Agreement constitutes a valid and legally binding obligation of BioMed, enforceable in accordance with its terms except (i) as limited by 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 or specific performance, injunctive relief, or other equitable remedies. 

 3.2. No Violation. Neither the execution, delivery and performance of this Agreement
by BioMed nor the acquisition by BioMed of the Shares will violate, conflict with or result in any breach of any of the terms, conditions or provisions of, constitute a default under, or require any consent not obtained as of the Effective Date
under, (1) the certificate of incorporation or by-laws of BioMed, (2) any agreement, contract, arrangement or understanding to which BioMed is a party (including, but not limited to, any shareholders’ or similar agreements), or
(3) any statute or any rule, regulation, order, judgment or decree of any court or other governmental body applicable to BioMed. 
 3.3. Investment Experience. BioMed acknowledges that it is an “accredited investor” as such term is defined in Regulation D promulgated under the Securities Act, that it can bear the
economic risk of its investment, and that it has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Shares. BioMed also represents it has not been organized
solely for the purpose of acquiring the Shares. 
 3.4. Restricted Securities. BioMed understands that the Shares it is
purchasing are characterized as “restricted securities” under the Securities Act 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. 

3.5. Legends. It is understood that the certificate(s) evidencing the Shares shall bear the following legend: 

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”).
SUCH SHARES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION UNLESS SUCH SALE OR TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT OR UNLESS SOLD PURSUANT TO RULE 144 OF THE ACT. 

4. Piggyback Registration. If (but without any obligation to do so) the Company proposes to register any additional shares of its Common Stock or
other securities under the Securities Act in connection with the public offering of such securities (other than (a) a registration statement relating to the sale of securities to employees of the Company pursuant to a stock option, stock
purchase or similar plan, (b) a registration statement on Form S-4, or (c) a registration statement on a form not available for registering the Shares), the Company shall, at such time, promptly give BioMed written notice of such
registration. Upon the written request of BioMed given 

 
within twenty (20) days after mailing of such notice by the Company, the Company shall use its best efforts to cause to be registered under the Securities Act all of the Shares that BioMed
has requested to be registered; provided, however, that: (i) the Company shall have the right to postpone or withdraw any registration statement pursuant to this Section 4 without obligation to BioMed; (ii) of the Shares specified in
the written request delivered to the Company by BioMed, the Company may cut-back and exclude from such registration such number of Shares as is specified by the Company’s underwriter or investment bank as reasonably necessary in order not to
harm the market for the Common Stock or the underwriting in question, which cut-back shall be applied pro-rata to all selling stockholders exercising piggyback registration rights in proportion to the number of shares of Common Stock each seeks to
register thereby; and (iii) notwithstanding anything herein to the contrary, the Company shall not be required to register any Shares if counsel for the Company opines that such Shares may be sold publicly without restriction by BioMed without
registration under the Securities Act (including in reliance on Rule 144 under the Securities Act). 
 5. Miscellaneous. 

5.1. Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the
benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any
rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 
 5.2. Governing Law. This Agreement shall be governed by and construed under the laws of the State of Washington as applied to agreements entered into and to be performed entirely within Washington.

 5.3. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. 
 5.4. Titles and Subtitles. The titles and subtitles
used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

5.5. Notices. All notices and other communications required or permitted hereunder shall be in writing, shall be effective when
given, and shall in any event be deemed to be given upon receipt or, if earlier, (a) five (5) days after deposit with the U.S. Postal Service or other applicable postal service, if delivered by first class mail, postage prepaid,
(b) upon delivery, if delivered by hand, (c) one (1) business day after the business day of deposit with Federal Express or similar overnight courier, freight prepaid or (d) one (1) business day after the business day of
facsimile transmission (with confirmation), if delivered by facsimile transmission with copy by first class mail, postage prepaid, and shall be addressed (i) if to BioMed, at 17190 Bernardo Center Drive, San Diego, CA 92128, Attn: General
Counsel/Corporate Legal; and (ii) if to the Company, at the address or facsimile number of the Company’s principal corporate offices, or at such other address as a party may designate by ten days’ advance written notice to the other
party pursuant to the provisions above. 

 5.6. Costs and Expenses. Each party shall pay its respective expenses in connection
with the preparation, execution and delivery of this Agreement and the transactions contemplated hereby, including the fees and out-of-pocket expenses of legal counsel. 
 5.7. Amendment and Waivers. Any term of this Agreement may be amended and the severance of any term of this Agreement may be waived (either generally or in a particular instance and either
retroactively or prospectively) only with the written consent of the parties hereto. 
 5.8. Severability. If one or more
provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable
in accordance with its terms. 
 5.9. Entire Agreement. This Agreement and the documents referred to herein constitute
the entire agreement among the parties and no party shall be liable or bound to any other party in any manner by any warranties, representations, or covenants except as specifically set forth herein or therein. 

[Remainder of page intentionally left blank.] 

 The parties have executed this Stock Purchase Agreement as of the date first above written.

 MARINA BIOTECH, INC. 
  

			
	By:	 	 /s/ J. Michael French

	Name:	 	 J. Michael French

	Title:	 	 President and CEO

 BIOMED REALTY, L.P. 
  

			
	By:	 	 /s/ Kevin M. Simonsen

	Name:	 	 Kevin M. Simonsen

	Title:	 	 V.P. Real Estate Counsel

[SIGNATURE PAGE TO STOCK PURCHASE AGREEMENT]

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