Document:

crsp-ex101_103.htm

 

Exhibit 10.1

 

33 New York Avenue

Framingham, MA

 

Second Amendment to Lease

CRISPR Therapeutics, Inc.

 

THIS SECOND AMENDMENT TO LEASE (“Second Amendment”) is made as of April    , 2021 (the “Effective Date”) by and between 33 NYA OWNER (DE) LLC, a Delaware limited liability company (“Landlord”), and CRISPR THERAPEUTICS, INC., a Delaware corporation (“Tenant”).

 

Background

 

Pursuant to the provisions of that certain Lease dated as of May 5, 2020, as amended by that certain First Amendment dated as of November , 2020 (collectively, the “Original Lease”), Landlord, as successor-in-interest to CRP/KING 33 NY AVE. OWNER, L.L.C., leases to Tenant and Tenant leases from Landlord, those certain premises in the building known and numbered as 33 New York Avenue,  Framingham,  MA,  the  “Premises”)  as  set  forth  in  the  Original Lease. Capitalized terms used and not defined herein shall have the respective meanings ascribed to them in the Original Lease. The Original Lease, as amended hereby, is hereinafter referred to as the “Lease.”

 

Tenant has requested, a Landlord has approved, a revision to the Plans which will increase the square footage of the Prime Premises by a de minimis amount.

 

Landlord and Tenant desire to enter into this Second Amendment to provide for such revision of the Prime Premises min accordance with the terms and conditions set forth herein.

 

Agreement

 

NOW, THEREFORE, in consideration of the foregoing and mutual covenants contained herein, Landlord and Tenant hereby agree to modify and amend the Original Lease as follows:

 

1.Prime Premises. Exhibit 1A to the Lease is hereby deleted and replace with Exhibit 1A attached hereto.

 

(a) Notwithstanding the revision to Exhibit 1A, the parties hereby acknowledge and agree that there shall be no change to the Rentable Square Footage of the Premises, which shall remain 50,249 rentable square feet for all purposes under the Lease.

 

	
 
	
2.
	
Miscellaneous

 

(a)Brokerage. Tenant shall indemnify and hold Landlord and its trustees, managers, members, principals, beneficiaries, partners, officers, directors, employees, mortgagees and agents harmless from all claims of any other brokers, agents or finders claiming to have represented Tenant in connection with this  Second Amendment.  Any assistance rendered by any agent or employee of 

 

1

 

Landlord in connection with this Second Amendment or any subsequent amendment or modification or any other document related hereto has been or will be made as an accommodation to Tenant solely in furtherance of consummating the transaction on behalf of Landlord, and not as agent for Tenant.

 

(b)Tenant Confirmations. Tenant represents and warrants to Landlord that (1) the person(s) executing this Second Amendment on behalf of Tenant are duly authorized and have full power to execute and deliver this Second Amendment, (2) to Tenant’s knowledge as of the date hereof, (i) Landlord is not in default of its obligations under the Lease, (ii) nor do circumstances exist which, with the giving of notice or passage of time, or both, would constitute a default by Landlord under the Lease, and (iii) Tenant has no claim, offset, or defense against the enforcement of the Lease in accordance with its terms, and (3) Tenant is not acting, directly or indirectly, for or on behalf of any person, group, entity, or nation named by any Executive Order or the United States Treasury Department as a terrorist, “Specially Designated National and Blocked Person”, or other banned or blocked person, group, entity, nation, or transaction pursuant to any law, order, rule, or regulation that is enforced or administered by the Office of Foreign Assets Control and that it is not engaged in this transaction, directly or indirectly, on behalf of, or instigating or facilitating this transaction, directly or indirectly, on behalf of any such person, group, entity, or nation.

 

(c)General. The submission of this Second Amendment to Tenant or a summary of some or all of its provisions for examination does not constitute a reservation of or option for the Leased Premises or an offer to lease any space, and no legal obligations shall arise with respect to the Leased Premises hereunder or other matters herein unless and until such time as this Second Amendment is executed and delivered by Landlord and Tenant. This Second Amendment may be executed in one or more counterparts and, when executed by each party, shall constitute an agreement binding on all parties notwithstanding that all parties are not signatories to the original or the same counterpart provided that all parties are furnished a copy or copies thereof reflecting the signature of all parties. Transmission of a facsimile or by email of a pdf copy of the signed counterpart of this Second Amendment or execution thereof by electronic signature shall be deemed the equivalent of the delivery of the original.

 

(d)Entire Amendment. This Second Amendment contains all of the agreements of the parties with respect to the subject matter hereof and supersedes all prior dealings between the parties with respect to such subject matter.

 

(e)Binding Amendment. This Second Amendment shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and assigns.

 

(f)Governing Law. This Second Amendment shall be governed by the laws of the Commonwealth of Massachusetts without regard to conflict of laws principles.

 

(g)Authority. Landlord and Tenant each warrants to the other that the person or persons executing this Second Amendment on its behalf has or have authority to do so and that such execution has fully obligated and bound such party to all of the terms and provisions of this Second Amendment.

 

(h)Ratification. Except as expressly modified by this Second Amendment, the Lease is hereby confirmed and shall remain in full force and effect.

 

 

2

 

 

[signature page follows]

 

3

 

IN WITNESS WHEREOF, Landlord and Tenant have entered into this Second Amendment as a sealed Massachusetts instrument as of the Effective Date set forth above.

 

	
LANDLORD:

	
 
	
 
	
 

	
33 NYA OWNER (DE) LLC,

	
a Delaware limited liability company

	
 

	
 
	
 
	
 

	
By:
	
 
	
/s/ Brian Barriero

	
Name:
	
 
	
Brian Barriero

	
Title:
	
 
	
Vice President

 

 

	
By:
	
 
	
/s/ Kristen Binck

	
Name:
	
 
	
Kristen Binck

	
Title:
	
 
	
Vice President

 

	
TENANT:

	
 
	
 
	
 

	
CRISPR THERAPEUTICS, INC.,

	
a Delaware corporation

	
 

	
 
	
 
	
 

	
By:
	
 
	
/s/ Denis Desmond

	
Name:
	
 
	
Denis Desmond

	
Title:
	
 
	
Head of Facilities Services, Operations & Real Estate

 

 

 

 

 

4

 

 

EXHIBIT 1A

LEASE PLAN – PRIME PREMISES

 

[***]

 

 

 

 

Exhibit 1A, Page 1crsp-ex102_184.htm

 

Exhibit 10.2

 

[***] Certain portions of this exhibit have been omitted because they are not material and the registrant customarily and actually treats that information as private or confidential.

 

 

 

April 29, 2021

 

VIA E-MAIL

 

Pfizer Inc.

Legal Division

235 East 42nd Street New York, NY 10017

Attention: William C. Longa

 

	
Re:
	
Sublease dated August 1, 2016 (“5th Floor Sublease”) between Pfizer Inc. (“Pfizer”) and CRISPR Therapeutics, Inc. (“CRISPR”) of the 5th floor of Premises at 610 Main Street, Cambridge, MA (the “Building”) and Sublease dated May 6, 2016 (“6th-7th Floor Sublease”) between Pfizer and CRISPR of the 6th and 7th floors of the Building (collectively, the “Subleases”)

 

Dear William:

 

This letter is sent to confirm and memorialize our discussions regarding CRISPR’s proposed further sublease of the above-referenced premises, as more fully detailed in our letter to you dated [***] (the “Sublease Consent Letter”). As provided in the Sublease Consent Letter, CRISPR proposes to further sublease the [***] floor premises to [***] (the “[***] Sub-Sublease”) and further sublease [***] floor premises to [***] (the “[***] Sub-Sublease”, and collectively with the [***] Sublease, the “Proposed Sub-Subleases”).

 

Notwithstanding anything to the contrary contained in the Subleases, Pfizer and CRISPR have agreed as follows with respect to the Proposed Sub-Subleases only:

 

	
 
	
1.
	
CRISPR hereby waives the thirty (30) day requirement set forth in Section 19(b) of the Subleases in which Pfizer may respond to the Sublease Consent Letter. Notwithstanding anything in the Subleases to the contrary, Pfizer may consent, refuse consent, or elect to exercise its recapture rights with respect to the premises covered by each Proposed Sub-Sublease and terminate the applicable Sublease, in each case, each as and to the extent permitted under the applicable Sublease and this letter agreement, by providing written notice to CRISPR no later than [***] (the parties acknowledging that Pfizer may elect to 

 

	
CRISPR Therapeutics
	
610 Main St, Cambridge, MA 02139
	
www.crisprtx.com

 

 

	
 
		
treat each of the Proposed Sub-Subleases separately), and Pfizer’s failure to provide any such written notice with respect to a Proposed Sub-Sublease by such date shall be deemed to constitute Pfizer’s consent to such Proposed Sub-Sublease;

 

	
 
	
2.
	
CRISPR may, in its discretion, continue to negotiate the Proposed Sub-Subleases and may execute the Proposed Sub-Subleases, subject to the rights of Pfizer under the Subleases and this letter agreement and the rights of Overlandlord (as defined in the Subleases). Pfizer shall not be responsible for any costs or expenses incurred in connection with such negotiations and/or signing, even if consent to such Proposed Sub-Subleases is subsequently refused pursuant to the applicable Sublease;

 

	
 
	
3.
	
If Pfizer shall elect to exercise its recapture rights with respect to one or both of the Subleases and to terminate the applicable Sublease(s), the effective date of any such termination shall be July 1, 2022 (the “Termination Date”), subject to clause (4) below, as though such date were the original Expiration Date of the applicable Sublease(s) for all purposes;

 

	
 
	
4.
	
Notwithstanding the Termination Date as provided in clause (3) and notwithstanding anything to the contrary set forth in the Subleases, Pfizer acknowledges and agrees that CRISPR may adjust the Termination Date upon not less than six (6) months prior written notice to Pfizer to a date (i) not more than three (3) months prior to July 1, 2022 or (b) not more than three (3) months after July 1, 2022; and

 

	
 
	
5.
	
The foregoing terms and conditions shall modify the Subleases solely with respect to the Proposed Sub-Subleases and except as otherwise modified by this letter agreement, the Subleases shall remain in full force and effect and unamended.

 

Kindly acknowledge your agreement to the foregoing terms by signing this letter in the appropriate acknowledgement section below and returning a copy to me by email.  Please call if you have any questions.

 

Sincerely,

CRISPR THERAPEUTICS, INC.

 

	
/s/ Michael Tomsicek
	
 
	
/s/ Denis Desmond
	
 

	
Name: Michal Tomsicek
	
 
	
Denis Desmond
	
 

	
Title: CFO
	
 
	
Head of Facilities Services, Operations & Real Estate

 

	
	
Acknowledged and agreed:

PFIZER INC.

	
 

	
/s/ Gary Annino

	
Name: Gary Annino

	
Title: Sr Director, FS & CRE

 

 

	
CRISPR Therapeutics
	
610 Main St, Cambridge, MA 02139
	
www.crisprtx.com

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00331-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00331-of-00352.parquet"}]]